Swedish ASIC miner company kncminer.com

[Phoenix1969]

If you had just 100 Bitcoins, and the price settled over 10k.....   someday mate....  someday soon  
People will be so glad their machine spits out .005 a day....

[merv77]

If you had just 100 Bitcoins, and the price settled over 10k.....   someday mate....  someday soon  
People will be so glad their machine spits out .005 a day....

maybe at 0.1 or 0.05, but not at 0.005 a day, this will only be $50 at $10,000 per bitcoin, then takeaway power cost it will be even less...  

sure you calculated it correctly?

[sickpig]

If you had just 100 Bitcoins, and the price settled over 10k.....   someday mate....  someday soon  
People will be so glad their machine spits out .005 a day....

maybe at 0.1 or 0.05, but not at 0.005 a day, this will only be $50 at $10,000 per bitcoin, then takeaway power cost it will be even less...  

sure you calculated it correctly?

$50 a day is not that bad as long as it covers 50% of your operational costs.

e.g. $50 a day, 50% maintenance costs (energy + space rent + time etc etc) you still got 30*$50*.5=$750 net per month.

[pedrosoft]

@bitcoinorama any news on upgrade modules ?   

[Biffa]

If you had just 100 Bitcoins, and the price settled over 10k.....   someday mate....  someday soon  
People will be so glad their machine spits out .005 a day....

maybe at 0.1 or 0.05, but not at 0.005 a day, this will only be $50 at $10,000 per bitcoin, then takeaway power cost it will be even less...  

sure you calculated it correctly?

$50 a day is not that bad as long as it covers 50% of your operational costs.

e.g. $50 a day, 50% maintenance costs (energy + space rent + time etc etc) you still got 30*$50*.5=$750 net per month.

And how much will $750 a month buy at 2140 inflation levels?

[sickpig]

If you had just 100 Bitcoins, and the price settled over 10k.....   someday mate....  someday soon  
People will be so glad their machine spits out .005 a day....

maybe at 0.1 or 0.05, but not at 0.005 a day, this will only be $50 at $10,000 per bitcoin, then takeaway power cost it will be even less...  

sure you calculated it correctly?

$50 a day is not that bad as long as it covers 50% of your operational costs.

e.g. $50 a day, 50% maintenance costs (energy + space rent + time etc etc) you still got 30*$50*.5=$750 net per month.

And how much will $750 a month buy at 2140 inflation levels?

Don't be fooled by me translating the 0.005 btc into dollars, it was just for the sake of clarity.

I'm a miner and I never cash-out xtc right away after having mined it. I cash-out very rarely and only if I really need it and only for the amount that I have to spend. Or just because the thing I have to buy is available in btc only.

The real question you need to ask is: what you will be able to buy with 0.005 xtc by 2015 (I don't dare to move time horizon further than that

[timmmers]

or

If you had just 100 Bitcoins, and the price settled over 10k.....   someday mate....  someday soon  
People will be so glad their machine spits out .005 a day....

maybe at 0.1 or 0.05, but not at 0.005 a day, this will only be $50 at $10,000 per bitcoin, then takeaway power cost it will be even less...  

sure you calculated it correctly?

$50 a day is not that bad as long as it covers 50% of your operational costs.

e.g. $50 a day, 50% maintenance costs (energy + space rent + time etc etc) you still got 30*$50*.5=$750 net per month.

And how much will $750 a month buy at 2140 inflation levels?

IF Google adopt it to take on Paypal that could be more like 2016. Or Amazon. Or both.
Google have done some things that no-one even imagined would work out ...like driving a camera car down all those streets...and we now take it for granted. Some of those cars were even robots. Bitcoin is no stretch at all for their wallet.
The head of Paypal showed his lack of common sense by saying they would consider it when the price stabilized...as if them getting into botcoins woudn't have any effect on the price lmao

I used to share Pheonixes optimism but think he was a little too optimistic on timescale ..recently I've seen so much good stuff from everywhere that matters I think he maybe right. I also had no real idea what other uses the system has on top of just paying for stuff. Coloured coins atc.

[merv77]

If you had just 100 Bitcoins, and the price settled over 10k.....   someday mate....  someday soon  
People will be so glad their machine spits out .005 a day....

maybe at 0.1 or 0.05, but not at 0.005 a day, this will only be $50 at $10,000 per bitcoin, then takeaway power cost it will be even less...  

sure you calculated it correctly?

$50 a day is not that bad as long as it covers 50% of your operational costs.

e.g. $50 a day, 50% maintenance costs (energy + space rent + time etc etc) you still got 30*$50*.5=$750 net per month.

And how much will $750 a month buy at 2140 inflation levels?

Don't be fooled by me translating the 0.005 btc into dollars, it was just for the sake of clarity.

I'm a miner and I never cash-out xtc right away after having mined it. I cash-out very rarely and only if I really need it and only for the amount that I have to spend. Or just because the thing I have to buy is available in btc only.

The real question you need to ask is: what you will be able to buy with 0.005 xtc by 2015 (I don't dare to move time horizon further than that

I recently received my electric bill for $1700.00 AUD (Australia is 1kw/[email protected] cents) and it's for same period (3 months) of running 3 jupiters, 1 BFL little single plus air-con running 20% of the time.  BTW, I'm running Jupiter firmware 0.95 with only draws average 580W each
 
when I add 2 (maybe 3) Neptunes it will probably triple the power cost.  

[The Avenger]

@bitcoinorama any news on upgrade modules ?   

If the amount of people who have stated they are asking for a refund in this thread is a reflection of the overall mood towards neptunes, I imagine knc are having a crisis meeting today.

How to stop the refunds? Distract people with a sale of jupiter boards? Tell people they've taped out neptune, which will keep everyone on board for a few more months? Tell everyone they are definitely delivering in April and then announcing on May 1st they have a delay (the way they normally wait until a day after something was promised and announce some issue, i.e. 16th October, November jupiters) to keep people hanging on?

Or are they just so set on their future in the cloud hashing business, they don't really care about the small time buyers of neptune? They'll say nothing and give refunds to those who ask?

Their attitude to customers has been pretty shoddy since they started shipping in October, so will be interesting to see how they do business on this issue.

[jelin1984]

i think knc will be ok
and at end of these week will be have for sell some moddule

[faetos]

@bitcoinorama any news on upgrade modules ?   

If the amount of people who have stated they are asking for a refund in this thread is a reflection of the overall mood towards neptunes, I imagine knc are having a crisis meeting today.

How to stop the refunds? Distract people with a sale of jupiter boards? Tell people they've taped out neptune, which will keep everyone on board for a few more months? Tell everyone they are definitely delivering in April and then announcing on May 1st they have a delay (the way they normally wait until a day after something was promised and announce some issue, i.e. 16th October, November jupiters) to keep people hanging on?

Or are they just so set on their future in the cloud hashing business, they don't really care about the small time buyers of neptune? They'll say nothing and give refunds to those who ask?

Their attitude to customers has been pretty shoddy since they started shipping in October, so will be interesting to see how they do business on this issue.

You certainly called it with the cloud hashing nepotism crap. That's where miners will get their hashing power in the future at least from knc.  You guys will be fooling yourselves to think otherwise. I really don't think they care if people get refunds since that's more hash for Sam's brother. So, as a businessman I don't fault them for going in this direction. Why deal with a bunch of whiney miners when you can just source to one location.  I personally think this is bad for bitcoin's future if people have to rent their hash power sice it takes the power away from the individual and puts it in the hands of a few parties. Time will tell.

[vesperwillow]

@bitcoinorama any news on upgrade modules ?   

If the amount of people who have stated they are asking for a refund in this thread is a reflection of the overall mood towards neptunes, I imagine knc are having a crisis meeting today.

I'd say folks in this thread are more apt to get a refund than the average joe who purchased his system in good faith and is now simply forgetting about it/waiting for it, ie those who don't keep up with what's going on around them.

You certainly called it with the cloud hashing nepotism crap. That's where miners will get their hashing power in the future at least from knc.  You guys will be fooling yourselves to think otherwise. I really don't think they care if people get refunds since that's more hash for Sam's brother. So, as a businessman I don't fault them for going in this direction. Why deal with a bunch of whiney miners when you can just source to one location.  I personally think this is bad for bitcoin's future if people have to rent their hash power sice it takes the power away from the individual and puts it in the hands of a few parties. Time will tell.

It's unfortunate but true, that this is the eventual direction Bitcoin is going. A more people-centric crypto coin would be something like scrypt which is much harder to 'simplify hashing' but not hard enough that it becomes a chore.

I've always felt Bitcoin would be the foundation, but we would see better things down the road.

[Searing]

@bitcoinorama any news on upgrade modules ?   

If the amount of people who have stated they are asking for a refund in this thread is a reflection of the overall mood towards neptunes, I imagine knc are having a crisis meeting today.

How to stop the refunds? Distract people with a sale of jupiter boards? Tell people they've taped out neptune, which will keep everyone on board for a few more months? Tell everyone they are definitely delivering in April and then announcing on May 1st they have a delay (the way they normally wait until a day after something was promised and announce some issue, i.e. 16th October, November jupiters) to keep people hanging on?

Or are they just so set on their future in the cloud hashing business, they don't really care about the small time buyers of neptune? They'll say nothing and give refunds to those who ask?

Their attitude to customers has been pretty shoddy since they started shipping in October, so will be interesting to see how they do business on this issue.

You certainly called it with the cloud hashing nepotism crap. That's where miners will get their hashing power in the future at least from knc.  You guys will be fooling yourselves to think otherwise. I really don't think they care if people get refunds since that's more hash for Sam's brother. So, as a businessman I don't fault them for going in this direction. Why deal with a bunch of whiney miners when you can just source to one location.  I personally think this is bad for bitcoin's future if people have to rent their hash power sice it takes the power away from the individual and puts it in the hands of a few parties. Time will tell.

This is likely Naive..but in the USA midwest when faced with these types of corporate farms taking over everyting...we made co-op's they are called....the farmers got together and did  a group co-op elevator....they ..this far out in the midwest could not get elec companies to put in lines/plants...co-op electricty ...same for gas compaines etc

not sure how the bylaws or framework or shares etc work in such an arrangement....but such an endeavor if open books etc would probably kick butt....imho

again i'm probably naive..but my Dad ran a grain elev co-op for years ...started out very small....by the time he retired everyone merged with him.....grain terminals...their own train ..their own bank.....kinda "its a wonderful life" movie for farmers

anyway my 2c worth for what it is worth

Searing

[WastedLTC]

All this talk about refunds...   why?   Giving up with mining, just leave the thread.    My 4 Neptunes and my 2 Jupiters will run and run and run til they don't run any more.    My regret so far was selling one of my jupiters in early November.   Even with the difficulty rises, since mid November, my two Jupiters have created 37BTC.   Moving around 40 BTC to future mining isn't a big deal.   Today each Jupiter makes .15 but that is still $850 a week EACH ($810 BTC price).

I personally like seeing my pile of BTC grow...   I think people are just thinking short term.   You may not get 100% of your invested BTC in 10 days anymore...   got that--

Flip side, if KNC messes up, sure, refunds will be requested.   Nothing has changed since neptune went on sale.   Just relax and good luck.   Good times ahead.

[el_rlee]

All this talk about refunds...   why?   Giving up with mining, just leave the thread.    My 4 Neptunes and my 2 Jupiters will run and run and run til they don't run any more.    My regret so far was selling one of my jupiters in early November.   Even with the difficulty rises, since mid November, my two Jupiters have created 37BTC.   Moving around 40 BTC to future mining isn't a big deal.   Today each Jupiter makes .15 but that is still $850 a week EACH ($810 BTC price).

I personally like seeing my pile of BTC grow...   I think people are just thinking short term.   You may not get 100% of your invested BTC in 10 days anymore...   got that--

Flip side, if KNC messes up, sure, refunds will be requested.   Nothing has changed since neptune went on sale.   Just relax and good luck.   Good times ahead.

It might even be that you will be able to buy better hardware in hand at the time the Neptune's are finished. Bit I expect KNC to raise the specs.

[Biodom]

I think the Neptune as a machine will be OK, but i am not so sure that they will have a cheap and reliable hosting solution, especially if you have the machine working for a long time to make ROI-and this is a clincher for me. I am also not sure that everyone who made noises about selling really sold/refunded. However, if KnC had lots of refunds and did not care-this would be an indication that there is some plan afoot similar to cloudhashing.

I would't be surprised if later on KnC announces that Neptune will be just a bunch of hashing power in the datacenter.
Two other points:
1. Neptune is a god of sea in Roman mythology (hint-hint?)
2. Neptune is the last planet (Pluto does not count and they will not call some machine Uranus for obvious reasons).

Conclusion: Neptune will be the last and long lasting design and it will be either "under water" or "under liquid". Endgaget hints from Alex/Bitcoinorama concur.

[ASIC-K]

well, i asked for a refund as well. Everyone needs to jump ship, difficulty will be sky rocketing.

[Biodom]

All this talk about refunds...   why?   Giving up with mining, just leave the thread.    My 4 Neptunes....

I paid 12 BTC for my Neptune.  With refund I'll be getting about 16.

Unless you buy back today, you don't know what the price would be when you get the cash (in two-three weeks).

[pedrosoft]

All this talk about refunds...   why?   Giving up with mining, just leave the thread.    My 4 Neptunes....

I paid 12 BTC for my Neptune.  With refund I'll be getting about 16.

Unless you buy back today, you don't know what the price would be when you get the cash (in two-three weeks).

+ 1

[The Avenger]

1. Neptune is a god of sea in Roman mythology (hint-hint?)

There is a saying "He who is shipwrecked the second time cannot lay the blame on Neptune". Which means when something you do fails twice - it's probably your fault. After Jupiter, I learned my lesson!