Swedish ASIC miner company kncminer.com

[frankenmint]

Here's a question - has anyone done the math to see what the profitability will be in switching over to an alt-coin early? I know for a good while when the difficulty was approaching unprofitability for GPU's other miners were able to make more profit mining alts, then trading them for bitcoin than they were just mining bitcoin.

Is it possible to use their devices for mining alternative coins?
Any proofs from manufacturer(KnCMiners)?
Somewhere I had read that impossible.
KnCMiners designed only for bitcoin mining.
No?

sha256 alts of course....scrypt or scrypt-jane NO

[rizzman]

Here's a question - has anyone done the math to see what the profitability will be in switching over to an alt-coin early? I know for a good while when the difficulty was approaching unprofitability for GPU's other miners were able to make more profit mining alts, then trading them for bitcoin than they were just mining bitcoin.

Is it possible to use their devices for mining alternative coins?
Any proofs from manufacturer(KnCMiners)?
Somewhere I had read that impossible.
KnCMiners designed only for bitcoin mining.
No?

...And... you need to read more.

The machine mines based on SHA256 algorithms, so yes..... It can mine alt-coins as long as they utilize the SHA256 algorithm.

[ilovethebtc]

God what a naysayer comment.  They have promised a country of over 1.351 Billion chinese folks a working demo live and hashing in less than 48 hours.  I think that by far trumps this teeny tiny infinitesimal bitcointalk thread.

just saying STFU puny single person lol

Yeah well a Nigerian prince promised me half of a massive inheritance if I gave him my bank account info and social security number.

[frankenmint]

yes but the nigerian prince didnt go through great lengths to make and scrap an fpga prototype, a webstore, a forum, have an open day to preview their premesis, nor create a chinese announcement about their new device that is supposed to debut in 48 hours.

By the way it was me...I'm not nigerian.....and you'd be suprised that I really used it to blackmail ppl and not necessarily scam them.

[scrawler]

Here's a question - has anyone done the math to see what the profitability will be in switching over to an alt-coin early? I know for a good while when the difficulty was approaching unprofitability for GPU's other miners were able to make more profit mining alts, then trading them for bitcoin than they were just mining bitcoin.

Is it possible to use their devices for mining alternative coins?
Any proofs from manufacturer(KnCMiner)?
Somewhere I had read that impossible.
KnCMiners designed only for bitcoin mining.
No?

sha256 alts of course....scrypt or scrypt-jane NO

I ask about it KnCMiner by email 1 day ago with no answer.
It would be great if they do that.

[The Avenger]

I'm curious how long it takes until -Redacted- or TheAvenger jump on you..

I'm not bothered. Some of my posts early today were to head off the 20 or 30 pages of crap/FUD/BS speculation that we saw yesterday. We only had about 6 pages of new posts today, so I think it worked. Or else people wised up on their own to how pointless speculation is, which is fine too.

If Bitcoinorama delivers what he said the other day:

If there's something worth videoing i'll do my best to insist they allow that, as nothing puts minds at rest more. Whatever happens warts and all, i'll be honest with my account, but this time round there should be a lot more to actually show in moving images than written word.

then Saturday or Sunday we should know for sure if KNC have delays or whether things are really going to plan, albeit a few days late.

I'm sure that is what anyone who reads this thread really wants to know.

[The Avenger]

Here's a question - has anyone done the math to see what the profitability will be in switching over to an alt-coin early? I know for a good while when the difficulty was approaching unprofitability for GPU's other miners were able to make more profit mining alts, then trading them for bitcoin than they were just mining bitcoin.

Is it possible to use their devices for mining alternative coins?
Any proofs from manufacturer(KnCMiners)?
Somewhere I had read that impossible.
KnCMiners designed only for bitcoin mining.
No?

...And... you need to read more.

The machine mines based on SHA256 algorithms, so yes..... It can mine alt-coins as long as they utilize the SHA256 algorithm.

He's referring to this post on the KNC forum, where it seems Johan from Orsoc told him in an email it's not possible. I assume it's a mistake/misunderstanding, but this is what he's referring to:
http://forum.kncminer.com/forum/resellers-affilicates/general-questions/1175-on-which-coin-will-you-use-your-miner-btc-ppc-frc-trc-zet-bte?p=3621#post3621

[ImI]

I'm sorry guys & gals, but this time Xallia & Crumbs are right.
When I ordered, It was for September DELIVERY, not September shipping.

True. So it looks like you will get your order one, two or three days late.

BUT, when you ordered 400 GH/s was the name of the game. Now we are talking 500 GH/s (maybe even more), so absolutely no reason to whine imo.

[AussieHash]

they could have stopped all this as well as refunds by naming a shipping date or at least give more news about current progress
as well as [edit-begin] sticking to claims like [edit-end] allowing refunds until shipment as stated [edit2-begin] since there are still some asking for October slots as far as I know [edit2-end]

being silent in order to surprise customers seems to be a stupid tactic and I do not think they are stupid

Well if there is anybody looking for October Jupiters I have 2. I did buy them with PayPal and an AMEX so I still have some options.

I'm sorry guys & gals, but this time Xallia & Crumbs are right.
When I ordered, It was for September DELIVERY, not September shipping.

True. So it looks like you will get your order one, two or three days late.

BUT, when you ordered 400 GH/s was the name of the game. Now we are talking 500 GH/s (maybe even more), so absolutely no reason to whine imo.

The 500GH/s has never been confirmed. Just Sam in coindesk I think saying 450GH/s and a KnC forum post re PSU requirements. The truth is KnC don't even know how fast their chips will be.  Butfury's chips have 5GH printed on the package for instance.

[rizzman]

Here's a question - has anyone done the math to see what the profitability will be in switching over to an alt-coin early? I know for a good while when the difficulty was approaching unprofitability for GPU's other miners were able to make more profit mining alts, then trading them for bitcoin than they were just mining bitcoin.

Is it possible to use their devices for mining alternative coins?
Any proofs from manufacturer(KnCMiners)?
Somewhere I had read that impossible.
KnCMiners designed only for bitcoin mining.
No?

...And... you need to read more.

The machine mines based on SHA256 algorithms, so yes..... It can mine alt-coins as long as they utilize the SHA256 algorithm.

He's referring to this post on the KNC forum, where it seems Johan from Orsoc told him in an email it's not possible. I assume it's a mistake/misunderstanding, but this is what he's referring to:
http://forum.kncminer.com/forum/resellers-affilicates/general-questions/1175-on-which-coin-will-you-use-your-miner-btc-ppc-frc-trc-zet-bte?p=3621#post3621

My apologies,  I took that as more of a statement than a question.

[ImI]

they could have stopped all this as well as refunds by naming a shipping date or at least give more news about current progress
as well as [edit-begin] sticking to claims like [edit-end] allowing refunds until shipment as stated [edit2-begin] since there are still some asking for October slots as far as I know [edit2-end]

being silent in order to surprise customers seems to be a stupid tactic and I do not think they are stupid

Well if there is anybody looking for October Jupiters I have 2. I did buy them with PayPal and an AMEX so I still have some options.

I'm sorry guys & gals, but this time Xallia & Crumbs are right.
When I ordered, It was for September DELIVERY, not September shipping.

True. So it looks like you will get your order one, two or three days late.

BUT, when you ordered 400 GH/s was the name of the game. Now we are talking 500 GH/s (maybe even more), so absolutely no reason to whine imo.

The 500GH/s has never been confirmed. Just Sam in coindesk I think saying 450GH/s and a KnC forum post re PSU requirements. The truth is KnC don't even know how fast their chips will be.  Butfury's chips have 5GH printed on the package for instance.

Indeed it was a forum post of a KNC member. Yes, maybe even KNC doesnt know exactly what will be possible.

But that doesnt make any big difference regarding my statement: If KNC ships miners hashing 500GH/s+ nobody has the right to whine about 3 days delayed delivery and nobody should as its the much better choice to have a 500 GH miner at October 3rd than a 400 GH/s at september 30th.

[Phoenix1969]

I was always so confident I would win my Bitbetting "yes"; now, considering the terms of the bet, Looks like I loose. Oh well.
http://bitbet.us/bet/472/kncminer-will-deliver-asic-devices-before-october-1st/
I just hope they don't forget us "September Delivery" Folks, and make up for it in some way.
Even if they shipped units right this moment, and shipping only took two days, yadda yadda.
And now the VAT issue is scaring me... Who is collecting the VAT, and WHEN? It could end up that our VATs are at the end of some list that takes a few days. I'm ready, and waiting for a call....  the list was sent in days ago and nothing has shipped, yet our promise of refunds up to the day of shipping has been yanked. I'm confused here, although I wasn't thinking of any refund, seemed a red flag, or at least bright yellow.

I will be thankful at least to see shipping begin, and appreciate still all the hard work they have done in bringing these to market under such harsh conditions, but a promise is a promise... So I look for the gang at KNC to make good on that promise.

[Mota]

I'm sorry guys & gals, but this time Xallia & Crumbs are right.

When I ordered, It was for September DELIVERY, not September shipping.

Call it what you will... Fact is...   Come Monday... If the miners are not delivered... The miners are late.

thanks. much appreciate this statement..

I think someone just withdrew from the fan club...

Easy there, I'm still a fan, but the truth is the truth. When I was placing orders, especially the first one(5x), they were still indeed advertising



I could spend hours digging up more, but no bother, I'm just a bit sad we are indeed behind now. Those of us who were in the first 890 preorder, were told we would get our machines in september, and were told several times they are on track for "september delivery", which has somehow turned into "Shipping in September"

I hate to break it to you, but September delivery and Shipping in September mean basically the same thing. "Delivery" is per definition the act of transporting letters or goods to a predefined point/person - shipment is the act or an instance of shipping goods. It is NOT the same as you getting your order in September. 

[crumbs]

...
I hate to break it to you, but September delivery and Shipping in September mean basically the same thing. "Delivery" is per definition the act of transporting letters or goods to a predefined point/person - shipment is the act or an instance of shipping goods. It is NOT the same as you getting your order in September. 

I see.  So if i just had a letter delivered to me, that means someone just dropped it in the mail, and i should be expecting delivery soo.. wait.  Where do you get this ridiculous stuff?  Is this a German thing?  Sauce pl0x.

[nightengale]

I just hope "Shipping in September" doesn't turn into an apology... I'm too deep in now to worry about profit. Now I just hope I can reach breakeven.

It is sad to hear anyone, much less Phoenix1969, talk about KnC and merely hoping we can reach break-even...  Ugggh... The silence from them right now is such a bad thing.

[Paladin69]

Honestly, the best people I think can hope for is that CoinTerra and HashFast fold.  If you have a November KnC order, you may have only bought yourself a nice space heater for the winter.

The amount of new companies releasing hardware are going to cause the difficulty to run away from everyone.  This is going to get bad.  If you are buying next-gen hardware with BTC, you will be at a loss.  If you are buying with cash, it might be better to just buy BTC directly instead.

[The Avenger]

Honestly, the best people I think can hope for is that CoinTerra and HashFast fold.  If you have a November KnC order, you may have only bought yourself a nice space heater for the winter.

The amount of new companies releasing hardware are going to cause the difficulty to run away from everyone.  This is going to get bad.  If you are buying next-gen hardware with BTC, you will be at a loss.  If you are buying with cash, it might be better to just buy BTC directly instead.

That's a terribly pessimistic outlook.

When GPU's were no longer any use for mining bitcoin, gpu miners swopped over to litecoin.

When the lower end asic miner no longer mine enough BTC to make it worthwhile, they'll switch to an alt too. I assume people with jalapeno's are mining zetacoin or something like that, rather than huddling round it for heat.

I'd say it's fairly likely we'll see a SHA256 alt coin explode in 2014 for this reason.

[Cablez]

Honestly, the best people I think can hope for is that CoinTerra and HashFast fold.  If you have a November KnC order, you may have only bought yourself a nice space heater for the winter.

The amount of new companies releasing hardware are going to cause the difficulty to run away from everyone.  This is going to get bad.  If you are buying next-gen hardware with BTC, you will be at a loss.  If you are buying with cash, it might be better to just buy BTC directly instead.

^^^  This.  It would be very unwise to believe you will gain more BTC from a mining device than you spent on it during the ASIC transition.  Just remember 6-8PH by the end of December, that is 6-8X where we are now.  Pray for other companies to fold, just not yours to see some extra BTC.  

[itod]

If you are buying next-gen hardware with BTC, you will be at a loss.  If you are buying with cash, it might be better to just buy BTC directly instead.

This is not necessarily so, though it is a good advice to buy BTC instead of miners. But, if KnC folds like TerraHash and not ship at all, than Bitfury will not be able to alone drive the difficulty at these levels, almost guaranteeing both HashFast and CoinTerra buyers positive ROI. You can bat many of their buyers are watching this new KnC situation with great interest.

[Biomech]

I was always so confident I would win my Bitbetting "yes"; now, considering the terms of the bet, Looks like I loose. Oh well.
http://bitbet.us/bet/472/kncminer-will-deliver-asic-devices-before-october-1st/
I just hope they don't forget us "September Delivery" Folks, and make up for it in some way.
Even if they shipped units right this moment, and shipping only took two days, yadda yadda.
And now the VAT issue is scaring me... Who is collecting the VAT, and WHEN? It could end up that our VATs are at the end of some list that takes a few days. I'm ready, and waiting for a call....  the list was sent in days ago and nothing has shipped, yet our promise of refunds up to the day of shipping has been yanked. I'm confused here, although I wasn't thinking of any refund, seemed a red flag, or at least bright yellow.

I will be thankful at least to see shipping begin, and appreciate still all the hard work they have done in bringing these to market under such harsh conditions, but a promise is a promise... So I look for the gang at KNC to make good on that promise.

I was under the impression you were in the US. No VAT here, despite the worst efforts of some politicians.