Topic: Swedish ASIC miner company kncminer.com - page 970. (Read 3050071 times)

Sooner or later the merchants will have to spend that bitcoin moeny somehow or take a profit, unless they are going to pay all of their suppliers, employees and owners with bitcoins, there will be money traces somewhere when bitcoin is converted into regular currency.

Or our government can just switch to use tax and ablolish the completely broken and unfixable tax codes.  It is kind of like VAT on anything and everything you buy.  It will save all the wasted time and money (I hear $500 billion?) to try to figure out the tax code and pay the correct amount of tax every year.  The government will save money by laying off 90% of IRS agents.  There is no more tax cheat and loophole for the wealthy and corporation that can afford to hire accountants and set up off-shore accounts.  It will encourage savings.  It is fair, the more you spent (have the money to), the more you will be paying and lower income folks can get some kind of credit to off-set the use tax up to a certain amount for necessity.  I can only dream...

I've to say that Slush really like cgminer-tune, despite the fact I get lower hashrate @cgminer interface, slush is telling that my 2 jups are minting at 1.12TH/s. With prev cgminer version I was barely able to get 1.09TH/s.


edit: fix a typo

from what I can tell from their page they still take paypal is that true? I don't see anything for credit cards anymore of course that option still exists under paypal

Kaliecious, I love your tag!  It reminds me of another saying I heard "The more you know, the less you believe".

shit.    I wish they would have changed that one their website before I ordered the 850W that was listed.   While I appreciate the information you pass on here, it is REALLY hard to read through the multiple pages of back slapping, complaining, off topic stuff to find information.   This thread is more like a chat room than an info thread.    You basically have to search con's name and then read his post history to even find the really important stuff that he posts.
Thanks for letting me know since I will now try to get an RMA (right in front of black friday sales madness) and order different ones.

I'm happy to hear that early investors will get a discount but I'm less happy to learn it through  a third party what I'm supposed to learn by a proper communication sent directly by KnCminer.

Having said that, let's see what they have to offer  

It draws around 950w at the wall when pushing the cards currently. The suggestion to use 1200w PSUs I mentioned for a while back.

I'll have a more recommendations for you shortly, not crucial mods, but you can add them to the Nov boxes if you wish.

Lol, i borrow 2500$ from bank to buy mercury in August (there wasn't Jupiter's opinion in summer)  and and now they ask 15k-20k $ it fuks, do you know my brothers and sisters why? Because in Europe the winter / springs means later April.

http://www.coindesk.com/kncminer-pre-orders-next-asic/

there are others on here that have more expertise that can chime in but to the best of my knowledge they draw more power because they are supposedly capbable of 650gh..now seeings how  KNC often "under estimates" what is what on GH if it was me I'd get at least a 1200w unit simply because you just "know" someone down the line when it is prudent is gonna have a hack to 'overclock" knc units

anyway that is my take on it..better safe then sorry

Searing

Looks like Coindesk got the scoop from KnC.

http://www.coindesk.com/kncminer-pre-orders-next-asic/

Hey I saw someone posted on the KNC site that the November Jupiters draw a lot more power.   Does anyone knew if this is true?   Could KNC tell us please since they are shipping they must have tested a few.    Or could the first people receiving through up a draw number at the wall?    It would be appreciated since I assume everyone ordered their PSU in advance and I used their recommendation of an 850W.

I've just checked since I have an unused account @mineb and I found out that a block that took 13hs to be solved was orphaned. a real pity. it happened to me also in other pools (e.g. slush), nonetheless a real pity.

It is very similar to a person that has a Swiss bank account. The consumption of that person is a stimulus for the economy, so government will welcome you (A rich foreign customer). They will charge the car or house dealer for income tax, but not you

I can see many problems with taxation when merchants all accept bitcoin payment, since their bitcoin income are not traceable in current accounting system. One woman on the senate hearing session raised this question, but it seems so far no one have an idea how is that going to be handled

I am no tax expert, but I don't think you should under-estimate the length your government will do to get what they want especially your "hard-earned" money.  And it is naive to think that they will play by the rule.  Officially it is $10k, but it can be much less if you have multiple smaller activity/transactions (even in different banks) that add up to a large sum of money.

I am very interested in hearing how you have been or intended to laundering your bitcoin profits?  Even if you sell it locally for cash, how do you deposit that money into your banks without looking suspicious as to the origin of your money?  Are you using it to buy a car or house?  How do you explain to the IRS when you bought a $1 million house and/or $100,000 Tesla  all in cash when you are only making $50,000/yr?  I guess you must be running an Italian restaurant that has no paying customer as a front to launder your bitcoin money..  Or have rolls of hundreds under your mattress 

So on the Neptune what are we looking at here ...assuming they ask for $$$ from the pre-existing customers on say DEC 1st 2013.. a consensus here guess of say
shipping started March 15th 2014? or so?

The other related "horror" of this scenario ..is that is 3.5 to 4 months say of $$$ tied up (likely around 10k) for all that time....and that is a lot of time to take pre-orders..so your miner and start mining  with everyone else dumped on network in 2 weeks or so from that backlog....at worst/best case scenario they'd be pumping out units big time the next 2 months (this is due to proven track record 20mm footprint and refund policy and credit card paypal up to shipping ..who would you buy from)...they will  have more orders then capacity imho it will be nuts!!!

I"ll probably buy the next unit..because I am somewhat bored of late and like playing at mining is fun in a scary "hey lets be an astronaut" kinda way.....but I should look at it like a "Bass Boat" and my dream of paying for it by "competitive Bass fishing tournament winnings" ..a pleasant dream but not very likely..of course the way my unit arrived from Sweden last time ..I could use this as an excuse to fly to Sweden (of course then I would have to come home....that would suck)

*shudders to think of ups/dhl handling a "lighter" 10k unit from Sweden to USA...........smaller more fun to toss and better distance DHL/UPS toy.....

silly hobby an't it (have to think of it as a hobby I start to think of this as "real money" I crap myself..oh well wine/women and song are overrated I hear)

Searing

Thanks, I'll check it out. If it really turns out to be 2.5% less than guild, my savings will be more than enough to cover all of my food expenses, for instance. Until difficulty jumps significantly, that is.

smaller in size isn't a bad idea, but much much bigger/higher in hashing power I hope.

Just because you are right does not mean that people will listen.

Track your expenses, run it like a business. Pay your taxes and stay out of jail.

If you do not believe this -- call a CPA/Tax Accountant in the USA or a CA/CGA in Canada. Only Lawyers can invoke attorney/client privilege though -- so if you intend to cheat -- stick to dealing with a lawyer.

Can you get away with cheating? -- probably for a while -- maybe even forever. But it is a gamble.

It's like you think you're immune to structuring laws (hint : ALL transactions relating to bitcoins are flagged as suspeciouis and investigated, as they should be, vastly abused by tax evaders)

it's like you literally think you can withdrawl from an exchange to some sort of account that DOESN'T redflag and report everything you do

Reminder : localbitcoins is constnatly pushed by tax evaders because IT. IS. THE. ONLY. ACTUAL. WAY. TO. AVOID. TAXES.

You would do well to remember this, but you've probably already fucked up hard and sold your coins.  Or spent them!!!

Remember!~  Spending coins = TAXABLE. TRANSACTION.

Prepare.
For
Audits.