Swedish ASIC miner company kncminer.com

[DPoS]

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.

what were you going to do once all the bitcoins are done mining anyway?  junk the coin?  Scrypt mining has become a total joke as the flavor of the minute coins are everywhere... what is the point of that?

the secret is out, the space is crowded..  did you think simple money from running a machine was going to last forever?

[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).

+ 1

Got 16.12 for my $13200.  Just waiting for the refund.

For the obvious reasons this strategy is valid only if price of bitcoin stays the same or goes up.
If tomorrow BTC is $500 you have no recourse, but to hold BTC or sell at a loss.

[Gator-hex]

What's everyones problem?

They did say Q1/Q2 2014 on the contract you purchased.

Q2 = end of June 2014!

They're not even in breach of contract yet?  

No other manufacturer even has a 3TH miner on the drawing board!

[2tights]

What's everyones problem?

They did say Q1/Q2 2014 on the contract you purchased.

Q2 = end of June 2014!

They're not even in breach of contract yet?  

No other manufacturer even has a 3TH miner on the drawing board!

I agree. This is crazy, the blind leading the blind. "Everyone jump ship!" someone said, "Everyone refund, now!."

Uhm... no. You refund, I'm fine.

Nothing significant has changed in the time between when we ordered and now. People really need to get a grip... All great battles are hard fought.  Right now, this is like being in the trenches. HODL and calm down.

[vesperwillow]

what were you going to do once all the bitcoins are done mining anyway?  junk the coin?  Scrypt mining has become a total joke as the flavor of the minute coins are everywhere... what is the point of that?

the secret is out, the space is crowded..  did you think simple money from running a machine was going to last forever?

I never said the coin or the technological advance in transactions would go away, I said it would become the foundation. This is barely the dawn to a new age. Beyond our lifetime will be far greater applications, technologies and methods.

If you think scrypt is a joke, you might need to re-evaluate your entire understanding of everything cryptocurrency. Yes, there are crap coins out there, their purpose is pump/dump for BTC. Ride that wave. Myself and others do. Make sure to store up good scrypt coins. They have a purpose as well.

No other manufacturer even has a 3TH miner on the drawing board!

Drawing board doesn't matter to most miners--quickest product delivered does. I could have a 5TH system on the drawing board, but if most people found out they could get 2TH delivered next week.. they'll be purchasing more from the other guy, even if it costs more electricity--ESPECIALLY if you believe BTC value will rise.

I have never been an advocate of folks demanding refunds for their Neptunes, I just explain why I never  bought one. If I had bought one, I would keep it just for the resale value--there's idiots out there who'll pay premium for them even if they can't make a profit. There's money to be made either way..

[The Avenger]

No other manufacturer even has a 3TH miner on the drawing board!

You do know Cointerra are *in production* with a 2TH device? These devices are going to be tested and certified, so most will be hashing at... 2TH.

If lots of people have 2TH hashing, it's not going to be long before they push what you can earn with 2TH down to nothing.

The very first Jupiters out of the gate were mining 1.5BTC a day. Three months later, that is down to 0.15BTC a day. And that was while none of the major manufacturers were shipping anything!

It's almost certain that knc will not ship neptune for at least 3 months [REDACTED/]if they don't tape out before chinese new year[/REDACTED] lol

Food for thought?

[Syke]

What's everyones problem?

They did say Q1/Q2 2014 on the contract you purchased.

Q2 = end of June 2014!

They're not even in breach of contract yet?  

No other manufacturer even has a 3TH miner on the drawing board!

People are wising up, realizing that Q1 was never actually a possibility. It's a lot more clear now that a Q2 delivery is unprofitable. So please, don't request a refund. It's more coins for me.

[arousedrhino]

What's everyones problem?

They did say Q1/Q2 2014 on the contract you purchased.

Q2 = end of June 2014!

They're not even in breach of contract yet?  

No other manufacturer even has a 3TH miner on the drawing board!

I agree. This is crazy, the blind leading the blind. "Everyone jump ship!" someone said, "Everyone refund, now!."

Uhm... no. You refund, I'm fine.

Nothing significant has changed in the time between when we ordered and now. People really need to get a grip... All great battles are hard fought.  Right now, this is like being in the trenches. HODL and calm down.

5 Antminers would give you 1TH now, versus waiting for 1-4 months on the Neptune. Things have changed, KNC has actual competition now.

[dropt]

Prospero x3(2th/s)in march and april, cointerra, hashfast, megabigpower, bitforce, bitfury, blue-fury, BFL Monarch, Avalon, and xtreme. Not to mention the secretive ones, like x-crowd, and a dozen others.

Close your eyes and go back in time to late July/Early August of 2013.  Now remind yourself of all of the manufacturers that were just moments away from shipping.   Fast forward to today and reflect on the COMPLETE failure of almost all of those manufacturers to ship a damn thing.

[Phoenix1969]

Prospero x3(2th/s)in march and april, cointerra, hashfast, megabigpower, bitforce, bitfury, blue-fury, BFL Monarch, Avalon, and xtreme. Not to mention the secretive ones, like x-crowd, and a dozen others.

Close your eyes and go back in time to late July/Early August of 2013.  Now remind yourself of all of the manufacturers that were just moments away from shipping.   Fast forward to today and reflect on the COMPLETE failure of almost all of those manufacturers to ship a damn thing.

and how long do you think they will falter? forever? They will be delivering soon. KNC being the only ones to deliver "bliss" so far was the luckiest thing we could ever have happen. It won't last. Over the next 3 months, we will see 40-60% diffchanges. Anything else would be a MIRACLE!
Don't worry- you'll make it back in fiat... imho

[dropt]

Prospero x3(2th/s)in march and april, cointerra, hashfast, megabigpower, bitforce, bitfury, blue-fury, BFL Monarch, Avalon, and xtreme. Not to mention the secretive ones, like x-crowd, and a dozen others.

Close your eyes and go back in time to late July/Early August of 2013.  Now remind yourself of all of the manufacturers that were just moments away from shipping.   Fast forward to today and reflect on the COMPLETE failure of almost all of those manufacturers to ship a damn thing.

and how long do you think they will falter? forever?

If I asked you that exact question in July/August of 2013, what would you answer be?

[soy]

I'll never say a bad thing about the south again.  9:30PM my internet stopped.  On the phone with cable tech support multiple time but no good.  This morning after again getting no further than 192.168.100.1 status docsis 3.0 cable modem offline, I drove the 17 miles to the office and got another modem.  Asked if I had to activate and told no just plug in.  It got nothing as well.  More tech support, finally told oh, it had to be activated.  Now for some reason my miners aren't coming up.  I started first with my KnC, and got it working after 14½ hours down.  Then the internet got lost again when it came back up the Merc wouldn't connect.  Nor would my RPi's,

I've tried all sorts of approaches to get the Merc back up including removing the ribbon cables and booting to just the controller board and BBB but it doesn't show on nmap, and of course not showing up on nmap it won't answer an ssh or telnet.

I'll never say an unkind work about the south again, I promise.  must read all the missed posts or work on  the miner....

[soy]

I'll never say a bad thing about the south again.  9:30PM my internet stopped.  On the phone with cable tech support multiple time but no good.  This morning after again getting no further than 192.168.100.1 status docsis 3.0 cable modem offline, I drove the 17 miles to the office and got another modem.  Asked if I had to activate and told no just plug in.  It got nothing as well.  More tech support, finally told oh, it had to be activated.  Now for some reason my miners aren't coming up.  I started first with my KnC, and got it working after 14½ hours down.  Then the internet got lost again when it came back up the Merc wouldn't connect.  Nor would my RPi's,

I've tried all sorts of approaches to get the Merc back up including removing the ribbon cables and booting to just the controller board and BBB but it doesn't show on nmap, and of course not showing up on nmap it won't answer an ssh or telnet.

I'll never say an unkind work about the south again, I promise.  must read all the missed posts or work on  the miner....

Okay removed the ribbon cables, unplugged the bbb from the ctrl brd, restarted and it's awake, now to try with ribbons


----------------

It's up again and hashing.  My KnC is usually real dependable. 

[DPoS]

20 billion diff, here we come, 5k a BTC too.

that's the fallacy..  it just points to the dumb money (late to the party miners) and smart money (milk the miners' greedy dreams)

btc can stay $800 as long as the whale bots keep it there...  perhaps wall street gets greater fools to dump their IRAs into it to get to $5k



it does make a good opportunity to start a business where if you accept bitcoin you can get a leg up and gain exposure while the big gorillas sit and wait

[soy]

I'll never say a bad thing about the south again.  9:30PM my internet stopped.  On the phone with cable tech support multiple time but no good.  This morning after again getting no further than...

Up to here you has the beginning of a good novel. "192.168.100.1 status docsis 3.0 cable modem offline" kinda spoiled it for me  

Yes.  Makes me wonder if all they had to do was reactivate the modem.  It was a Motorola and the replacement is a Cisco.   Could have been the webcast I was listening to.  Very left leaning NYC radio station that gives time to AlJazerra. 

[soy]

I'll never say a bad thing about the south again.  9:30PM my internet stopped.  On the phone with cable tech support multiple time but no good.  This morning after again getting no further than...

Up to here you has the beginning of a good novel. "192.168.100.1 status docsis 3.0 cable modem offline" kinda spoiled it for me  

Yes.  Makes me wonder if all they had to do was reactivate the modem.  It was a Motorola and the replacement is a Cisco.   Could have been the webcast I was listening to.  Very left leaning NYC radio station that gives time to AlJazerra. 

While it was down I was concerned KnC would open a short window for upgrade modules or Jups.

[vesperwillow]

Hmm.. some responses have been deleted..

[Flashman]

If I asked you that exact question in July/August of 2013, what would you answer be?

Well in July and August I was telling people there would be at least 3 or 4 Petahash on the network by end of 2013, and was getting called a hyper-exaggerating panic monger.

Think we had around 10 Peta going into Jan.

So since my recent projections tend to agree with 20 billion diff around the time when you might expect Neptunes to hit your doorstep, and I was off by a factor of 2.5 before, lets say worst case 50 billion ...

[Biodom]

What would happen if we have 20-50 bil difficulty and BTC still at $800? Mad scramble for cheap electricity? It would be the most important parameter.
I have allocated fiat to both miners and BTC, will re-evaluate in 2 weeks.
It seems that most backlash here is from the ambiguous timing.
Interestingly, KnC will have facility in Iceland at some point:
http://www.engadget.com/2014/01/10/KnCMiner-interview/?ncid=rss_truncated
at 11:30-11:45min ("[Iceland...]That's where eventually we'll go")

[dropt]

If I asked you that exact question in July/August of 2013, what would you answer be?

Well in July and August I was telling people there would be at least 3 or 4 Petahash on the network by end of 2013, and was getting called a hyper-exaggerating panic monger.

Think we had around 10 Peta going into Jan.

So since my recent projections tend to agree with 20 billion diff around the time when you might expect Neptunes to hit your doorstep, and I was off by a factor of 2.5 before, lets say worst case 50 billion ...

Going from 19MM to 1.7B is a lot easier than going from 1.7B to 20B.