Swedish ASIC miner company kncminer.com

[dropt]

Because in a recent news update, Cointerra was not able to reach their 2TH/s mark in preliminary tests, they were only able to reach 1.6 @ full blast

KnC managed to find another up to another 120GH after launching at ~550GH did they not?  I wouldn't put it outside the realm of possibility that Cointerra will be able to hit 2TH per machine.

[merv77]

What is a real exchange? Coinbase is great for getting cash into bitcoin and back again. I use exchanges to trade between currencies, but there really isn't another choice to get $$ out of it.

coinbase was about half-good and now about a quarter-good mainly since only a few options exist for users statewide (as phoenix mentioned)...  OKpay was a nice way to get money into btc-e but they are on hold last I checked..

interesting to see what Circle does when they launch and if kraken ever gets approvals to allow USD from stateside sources

I think OKpay has changed it's mind, well for GBP if you're in the UK.

other good news...

http://www.usatoday.com/story/dispatches/2014/01/21/las-vegas-casinos-accepting-bitcoins/4713243/

http://news.cnet.com/8301-1023_3-57617502-93/ebay-uk-to-allow-bitcoin-sales-in-virtual-currency-category/

[vesperwillow]

Because in a recent news update, Cointerra was not able to reach their 2TH/s mark in preliminary tests, they were only able to reach 1.6 @ full blast

KnC managed to find another up to another 120GH after launching at ~550GH did they not?  I wouldn't put it outside the realm of possibility that Cointerra will be able to hit 2TH per machine.

Yeah the techs were saying there's still room, but now that they've found a stable ground they'll start shipping. Firmware can be updated, much like what KNC did.

Even if they don't reach 2TH.. they still have the 'time to market' variable right now, and could appease customers with more physical equipment.

[DPoS]

Coinbase is just far faster and works well for me. You're up and running in minutes and it's seamless with bank accounts. It's also superb for folks who want merchant capabilities, as it's built-in. There are some limits if you're unverified, but they're reasonable.. 50BTC purchase / 10 BTC sell, per day. For being unverified, that's very reasonable.

I think the limits go away entirely after a certain amount of time being verified.

nah, they aren't allowed to hold customer money in their accounts so when you buy 50btc you lock in a price and then wait...wait...for your btc.  Selling isn't terrible except they make some wide spreads lately and those 1% fees each way add up

sadly coinbase is turning into a joke on the buy side and is focusing mostly on merchants for the sell side.

I think OKpay has changed it's mind, well for GBP if you're in the UK.

I'll have to check back with them..  I have a verified OKPay account so I rather not bother setting up with others

[greenbtc]

Coinbase is just far faster and works well for me. You're up and running in minutes and it's seamless with bank accounts. It's also superb for folks who want merchant capabilities, as it's built-in. There are some limits if you're unverified, but they're reasonable.. 50BTC purchase / 10 BTC sell, per day. For being unverified, that's very reasonable.

I think the limits go away entirely after a certain amount of time being verified.

nah, they aren't allowed to hold customer money in their accounts so when you buy 50btc you lock in a price and then wait...wait...for your btc.  Selling isn't terrible except they make some wide spreads lately and those 1% fees each way add up

sadly coinbase is turning into a joke on the buy side and is focusing mostly on merchants for the sell side.

I think OKpay has changed it's mind, well for GBP if you're in the UK.

I'll have to check back with them..  I have a verified OKPay account so I rather not bother setting up with others

I'd have to agree with your statements on Coinbase here, they used to be one of the best gigs in town but with their new limits, 1% each way, and their customer service has turned me away from them. Their service has gotten better lately, but a few months ago it left a sour enough taste in my mouth to never use them again.

[RickJamesBTC]

I'm fully verified with coinbase, and it works great. I've never had a delay. We need better choices sure, but with the amount of fraud in this business, I'd rather stick with the largest or best known choice. I'd also like to stick with a company in the USA.

[kendog77]

I'm fully verified with coinbase, and it works great. I've never had a delay. We need better choices sure, but with the amount of fraud in this business, I'd rather stick with the largest or best known choice. I'd also like to stick with a company in the USA.

I like Coinbase as well, but they recently reduced their instant buy limit from 10 BTC per day to 1 BTC per day.

A lot of folks have purchased BTC from Coinbase, waited 5 days for them to be available, and then had the transaction cancelled right before the BTC was supposed to be available after the price went up. Coinbase can cancel transactions and call them "high risk" whenever it benefits them to do so.

They also provide no insurance on deposits. I use Coinbase, but don't particularly trust them and don't keep any BTC or USD in Coinbase for longer than it takes to complete a transaction.

Hopefully these issues will get better with time.

[greenbtc]

I'm fully verified with coinbase, and it works great. I've never had a delay. We need better choices sure, but with the amount of fraud in this business, I'd rather stick with the largest or best known choice. I'd also like to stick with a company in the USA.

I like Coinbase as well, but they recently reduced their instant buy limit from 10 BTC per day to 1 BTC per day.

A lot of folks have purchased BTC from Coinbase, waited 5 days for them to be available, and then had the transaction cancelled right before the BTC was supposed to be available after the price went up. Coinbase can cancel transactions and call them "high risk" whenever it benefits them to do so.

They also provide no insurance on deposits. I use Coinbase, but don't particularly trust them and don't keep any BTC or USD in Coinbase for longer than it takes to complete a transaction.

Hopefully these issues will get better with time.

This right here happens all the time, and is shady, however, I have had them straight try to steal from me--and I've seen them do it to others--and that is when I had to get my own bank involved and cease any future relationship with Coinbase, especially after working with their support for over 3 weeks and the only response I got was "this should be fixed now." --  and of course, it wasn't.

[r1senfa17h]

Finally got my refund for 1 of the three Neptunes I purchased. As promised, here's the timeline and what happened.

• 12/29 - 11:06PM ET: Sent email to [email protected] asking for refund
• 12/29 - 11:06PM ET: Automated response confirming my request was received
• 12/30 - 8:37AM ET: Kurt from KnC tells me that my order has been canceled as requested and he asks for my wire transfer info
• 12/30 - 8:49AM ET: I respond to Kurt's request with my info and inquire about whether I can be refunded in the equivalent amount of bitcoin instead
• 12/30 - 9:21AM ET: Kurt responds to confirm that the refund has been initiated to my bank account and that they do not offer refunds in bitcoin
• 1/08 - 2:30PM ET: Sent email to [email protected] asking about status of refund
• 1/08 - 2:36PM ET: Automated response confirming my email was received
• 1/09 - 9:10AM ET: Natalie responds, "I will contact our finance team and get back to you shortly"
• 1/13 - 8:59AM ET: Natalie emails and says, "Could you please send us your bank details for international transfer so we can process the refund?"
• 1/13 - 4:22PM ET: I respond to Natalie with the same wire transfer info I sent the first time
• 1/13 - 5:30PM ET: Liam responds with, "These details have been added to your order. All refunds are processed once weekly on a Thursday."
• 1/21 - 8:00AM ET: Bank shows wire transfer for refund is processing

Refund took 23 days total. I think this was a worst case scenario considering the holidays, but I was a little frustrated that I had to give them my wire transfer info twice. I still have two customer appreciation batch Neptunes on order, but have decided to spend the rest of my btc on other mining devices that are immediately available.

[vesperwillow]

I like Coinbase as well, but they recently reduced their instant buy limit from 10 BTC per day to 1 BTC per day.

That is frustrating, but all of the exchanges seem to have some form of delay on this matter, whether it's getting your fiat or getting your crypto.

A lot of folks have purchased BTC from Coinbase, waited 5 days for them to be available, and then had the transaction cancelled right before the BTC was supposed to be available after the price went up. Coinbase can cancel transactions and call them "high risk" whenever it benefits them to do so.

I can't speak to others' experience, but when I bought some BTC during this type of time period, I had no issue.

This right here happens all the time, and is shady, however, I have had them straight try to steal from me--and I've seen them do it to others--and that is when I had to get my own bank involved and cease any future relationship with Coinbase, especially after working with their support for over 3 weeks and the only response I got was "this should be fixed now." --  and of course, it wasn't.

I've heard of this from all the exchanges, and everytime I've asked for proof (simply for my own welfare of trust), I've never seen it. Do you have any?

[greenbtc]

I like Coinbase as well, but they recently reduced their instant buy limit from 10 BTC per day to 1 BTC per day.

That is frustrating, but all of the exchanges seem to have some form of delay on this matter, whether it's getting your fiat or getting your crypto.

A lot of folks have purchased BTC from Coinbase, waited 5 days for them to be available, and then had the transaction cancelled right before the BTC was supposed to be available after the price went up. Coinbase can cancel transactions and call them "high risk" whenever it benefits them to do so.

I can't speak to others' experience, but when I bought some BTC during this type of time period, I had no issue.

This right here happens all the time, and is shady, however, I have had them straight try to steal from me--and I've seen them do it to others--and that is when I had to get my own bank involved and cease any future relationship with Coinbase, especially after working with their support for over 3 weeks and the only response I got was "this should be fixed now." --  and of course, it wasn't.

I've heard of this from all the exchanges, and everytime I've asked for proof (simply for my own welfare of trust), I've never seen it. Do you have any?

I do, but it would require me posting my banking statements. Not all that keen on that, and I'm not all that keen on going through and marking it up so I can post it. They essesntially charged me for a purchase of BTC I never made (I sold BTC to them, not purchased). Instead of giving me money, they took it out. I'm pretty sure my bank ruled in my favor for a reason.

[vesperwillow]

I do, but it would require me posting my banking statements. Not all that keen on that, and I'm not all that keen on going through and marking it up so I can post it. They essesntially charged me for a purchase of BTC I never made (I sold BTC to them, not purchased). Instead of giving me money, they took it out. I'm pretty sure my bank ruled in my favor for a reason.

Makes me wonder if it was a server-side burp. Did they have anything to say about it?

[vesperwillow]

To the folks who have used my referral link for Neptunes: THANK YOU

2 folks have used it. I don't know who, but wanted to provide an update. I will hold to my commitment, any "free" machines I get from KNC, I will dedicate a third of the profits to charities.

I will setup a thread on the matter soon. Those who have used my link can provide me with charity suggestions, and I will give those priorities.

8 more to go for a Neptune

Keep in mind, I can host many Neptunes (power-wise), so don't worry about that. And this is a form of giving to those who don't even know you, which is truly an ultimate form of helping fellow man. There are also charities for the environment, if that's your thing.

[greenbtc]

I do, but it would require me posting my banking statements. Not all that keen on that, and I'm not all that keen on going through and marking it up so I can post it. They essesntially charged me for a purchase of BTC I never made (I sold BTC to them, not purchased). Instead of giving me money, they took it out. I'm pretty sure my bank ruled in my favor for a reason.

Makes me wonder if it was a server-side burp. Did they have anything to say about it?

Yep... "we fixed it."

It was not fixed. I had waited 3 weeks to get that reply, and at that point, just went to my bank. I think it was back when they were having tons of issues when BTC started to run in October, so maybe that's why they were slow...but never again for me, CB

[DPoS]

I like Coinbase as well, but they recently reduced their instant buy limit from 10 BTC per day to 1 BTC per day.

it's 1 per week... rather abysmal

A lot of folks have purchased BTC from Coinbase, waited 5 days for them to be available, and then had the transaction cancelled right before the BTC was supposed to be available after the price went up. Coinbase can cancel transactions and call them "high risk" whenever it benefits them to do so.

if you can get 'whitelisted' this doesn't happen.. whitelisted is more than just level 2.
back when they had active customer service support I was able to get whitelisted and never had an issue again  (except one database issue on their side which affected a lot of people one day)

They also provide no insurance on deposits. I use Coinbase, but don't particularly trust them and don't keep any BTC or USD in Coinbase for longer than it takes to complete a transaction.

they can't keep any customer money on their side. just btc.  they don't have exchange clearance or whatever

[lemonte]

To the folks who have used my referral link for Neptunes: THANK YOU

2 folks have used it. I don't know who, but wanted to provide an update. I will hold to my commitment, any "free" machines I get from KNC, I will dedicate a third of the profits to charities.

I will setup a thread on the matter soon. Those who have used my link can provide me with charity suggestions, and I will give those priorities.

8 more to go for a Neptune

Keep in mind, I can host many Neptunes (power-wise), so don't worry about that. And this is a form of giving to those who don't even know you, which is truly an ultimate form of helping fellow man. There are also charities for the environment, if that's your thing.

Nice work Vesper Willow! Very good to hear you're doing it for charity as well.

[kendog77]

I like Coinbase as well, but they recently reduced their instant buy limit from 10 BTC per day to 1 BTC per day.

it's 1 per week... rather abysmal

A lot of folks have purchased BTC from Coinbase, waited 5 days for them to be available, and then had the transaction cancelled right before the BTC was supposed to be available after the price went up. Coinbase can cancel transactions and call them "high risk" whenever it benefits them to do so.

if you can get 'whitelisted' this doesn't happen.. whitelisted is more than just level 2.
back when they had active customer service support I was able to get whitelisted and never had an issue again  (except one database issue on their side which affected a lot of people one day)

They also provide no insurance on deposits. I use Coinbase, but don't particularly trust them and don't keep any BTC or USD in Coinbase for longer than it takes to complete a transaction.

they can't keep any customer money on their side. just btc.  they don't have exchange clearance or whatever

I know they only keep BTC, but they don't offer insurance on BTC deposits. That means if they get hacked, make an honest mistake, or get cleaned out via an insider job the folks who lose BTC are simply out of luck.

Hopefully Coinbase will insure BTC deposits in the future. They use 2 factor authentication, which is good, but there are still many ways that a customer could get cleaned out by storing BTC with them.

[soy]

I doubt home mining is going to be around by the end of the year, though Cointerra and KNC have both been up front about this. Everything in Bitcoin is evolving quickly at the moment, adoption is up, massive advances in mining, I just wish the price would follow suit. Here's hoping that once the China situation which seems to be hanging over everyone like a dark cloud is out of the way, we see the price improving.

I also think it's quickly going to turn into a 2 horse race.

May I ask what you feel the China situation is and what would put it 'out of the way'?  I don't disagree I just don't understand.

If it's anything like printed circuit board manufacturing in the US it doesn't end well.

[lemonte]

I doubt home mining is going to be around by the end of the year, though Cointerra and KNC have both been up front about this. Everything in Bitcoin is evolving quickly at the moment, adoption is up, massive advances in mining, I just wish the price would follow suit. Here's hoping that once the China situation which seems to be hanging over everyone like a dark cloud is out of the way, we see the price improving.

I also think it's quickly going to turn into a 2 horse race.

May I ask what you feel the China situation is and what would put it 'out of the way'?  I don't disagree I just don't understand.

If it's anything like printed circuit board manufacturing in the US it doesn't end well.

Clarity, even if it's bad news, reading posts/articles from a Chinese persons perspective and speaking to a few, they too are in the dark with what the guidelines actually mean. I'd like to see volumes kick in and things heading back in the right direction after the 31st, even if that does mean a crash first. Then again, there is the argument that the news is already priced in.

[2tights]

*disclosure: My opinion is more favorable because I've got a batch 1 Neptune order.*

Wow, I've never taken all day to read one thread. Holy shit, people, stay on topic!

Lots of good chatter, I'm glad to see you're all keeping it together for the most part.


Observations

1. KNC is trying very hard to juggle all these balls. I think they're doing very well.  It is clear to me that KNC is doing their best to give their customers every advantage they can.

2. Power supply conversation: KNC : PLEASE DONT' FEEL OBLIGATED TO INCLUDE A PSU. This is crazy simple, people. Buy your own PSU's (back ups are a good idea...).

3. Self appointed know-it-alls are dragging this thread down. News flash: None of you know anything for certain, so please stop speculating about speculations. What I (and I think we) need is real time information, not speculation. If you have real information to contribute, please keep it coming!

edit: 3.1 : Coinbase is solid, I've had positive experience there.

4. I am a poker player and like a good gamble. I have learned to make my bet when the betting is good, which I've done. Then let it shake out... HODL as you'd say. I will HODL. I suggest you do the same, or don't. But I don't care If you decide not to, please delay your refund or sale of your hardware as long as possible.


I appreciate all the conversations, here. Thanks!