What’s the good of being involved with bitcoin if you can’t geek out on the bitcoin miner hardware that makes it all come together?
KnCMiner ‘Plan B’ for Bitcoin Miners
The folks over at KnCMiner have shared some great images of their hashing data center — a facility that allows customers to mine before they’ve even received their hardware.
Dubbed “Plan B”, the company announced the hashed hosting for customers waiting for their orders to come in. Here’s a look at the facility that is home to countless miners.
Racks and racks of equipment
A simple, yet lucrative setup
An employee inspecting the equipments
Racks and racks of bitcoin mining equipments
Up close and personal
Endless mining
The team
Images via KnCMiner
Gjgjg 
Erik 
Templarknight 
Neptune Customer 
13k shy 
Jim 
beaker 
joe 
Drool!
Once the hero´s of bitcoin.
Now they are now so completely corrupt.
Builders should never keep hardware for themselves, well maybe 5% max like they stated before……(go back on your word much ?)
But perhaps that is a good think to know so early in the game. That nobody can be trusted to do the right thing.
Decentralized crypto currency’s all the way !
Erik do you always have such crap reading comprehension, or is this just an off day for you? “The folks over at KnCMiner has shared some great images of their hashing data center — a facility that allows **customers** to mine before they’ve even received their hardware.
Dubbed “Plan B”, KnCMiner announced the hashed **hosting for customers** waiting for their orders to come in. Here’s a look at the facility that is home to countless miners.”
The data centers are for CUSTOMERS to start mining, NOT the KNC team. seriously, stop spreading misinformation and actually read the articles you’re responding to. You probably just read the title of the post and then flipped to the comments. You know what they say about assuming, right? -_-
Lol, I am pretty sure I read up more on ASIC and on KNCminer.
Here is some history for you:
KncMiner promised to deliver there Neptune miner early 2014
-Then it was First quarter for pre-batch, and first or second quarter for first batch.
-Then out of the blue take told all there customers where there upgrades went (they were planning to sell them to Jupiter customers, but than later on no news).
– Plan B is already in full affect and they should already offer all the Neptune customers free hosting while they wait, but they will not, and how knows maybe they will have a deal there as well, because the second mining center is for plan B, Then where was the first one for ? And what do you think will happen after Plan B has for filled its task ? I’ll give you a hit they will continue to mine bitcoins but not for there customers but for KNC.
– They promised never to mine with more than 5% of there hardware, something that many customers calculated in there decision to buy or not. I not sure on the amounts but some say as much as 10% 20% of the total Network hash rate is from Knc (that a 20% decrease in profit buyers where not counting on !)
– Now The second quarter is almost over, and allot of hardware that should have been later than the Neptune is already mining, much buyers would not half bought in knowing the would overshoot there promise with more than 3 months.
I hope these facts give you a better idea of that there actually doing.
About half of what you stated isn’t facts, it’s speculation and conspiracy theories. You’re claiming that the delay of orders, which has been a problem for virtually all Bitcoin mining companies, and the resulting delay of Neptune hosting, due to the lack of completed hardware to host on, is somehow a ploy for KNC to mine on customer’s equipment. Yeah, sure it’s *POSSIBLE*, but considering the circumstances, a lot has to be assumed for that to be the case.
Occam’s Razor supports the conclusion that they had unforeseen difficulties related to the fabrication of cutting-edge 20nm ASICs, and are making a good faith effort to appease their customers in the meantime. No company is free of product delays or difficulties, and KNC is still a relatively new company, so it’s understandable for them to make mistakes. Your attitude is unbearably cynical; you take the extreme position that essentially because they had a product delay, that they are taking advantage of this “convenient” product setback to mine on customers’ products.
Sorry dude, but with that kind of BS cynicism, no Bitcoin mining company EVER would pass your test. KNC has been the most professional and high ROI company to enter the Bitcoin mining space, setting a new bar for ASIC performance and forcing other mining companies to produce more competitive products. You really need to put your assumptions into perspective before you start dramatizing a company’s shortcomings.
ps. can you clean up your grammar & spelling? It’s hurting my eyes.
Once again lol good thing you call yourself a blogger and not a journalist.
This information was there on there website to read and see, just because its not there anymore does not mean it never was. I am 100% sure that these are the stories that they told us, because I did allot of research after gotten burned by BFL, and than yes Jupiter was a awesome product and set the benchmark for everybody else to beat. I read up very carefully and became an early investor into batch 1.
But from that point on they used there millions earned not to better the bitcoin network but there own wallets. What they are doing is a very smart business plan. Earning on a proven and already paid for product and letting others (there customers) invest in a new improved product. If I had no soul that the same route I would take.
In general the most successful people and company’s are soulless, and the more power they gain the more corrupt they become. This the main reason why crypto-currency exist to battle the centralized power of the monetary financial system we live in. ( I hope you know that already, if not start by watching “Money as deb” found on YouTube.)
I think even you can clearly see that what KNC is becoming is centralize power. (Building, and mining a massive part of the network). So in short yes its bad its very bad.
You haven’t addressed any of my points. Incidentally, I am also a freelance journalist, though I haven’t done any articles for some time, but in either case, I find it quite humorous how you can talk about facts and spout baseless conspiracy theories in the same breath. You have no evidence. You have nothing but speculation and cynicism. You’re just a FUD (fear, uncertainty, and doubt) generating machine.
Rather than making up wild stories to try to convince people that the king of the bitcoin mining hill is just another BFL, why don’t you tell us a company that is measurably better than KNC in ROI? Like maybe Cointerra? They released their machines first, that’s why KNC felt pressured to release those shoddy Jupiter 28nm machines (which ended up DOA) in the first place.
First of all don’t quite your daytime job, pretening to be one is a crime in my eyes. Well actually you started not addressing any of my points I though perhaps your not getting them.
But to humor myself I will still answers some of your questions even do there is no point to answering them as you are clearly not reading my points. I am spreading FUD, and conspiracy ? lol…. what kind of weird subtext are you reading. I am not bringing up and FUD, I am in fact talking about what has already happened, and will happen in the near future. It was all there to read on the website
KNC is a new BFL ? lol again where are you getting this from. BFL is a different story than KNC. Stop lifting up BFL at the cost of KNC.
Here one of does conspiracy theories I am talking about (lol it even still on there website)
This from FAQ page from there website.
________________________________________________________
Why are you selling the Miners and don’t mine yourself (will you use the miners for mining yourself)? ▾
We are mining ourselves, but we believe in the bitcoin project and a diversified market is the best for all parties. We will continue to mine but we do not believe in a monopoly of miners. We will not mine with more than 5% of the hash rate we sell, and we will never mine with customer hardware.
Link can be found here:
https://www.kncminer.com/pages/faq
I think you ow me a apology 😉
That disclaimer by KNC has been in the website since day 1, so if anything I’m humored that you think your claims prove anything except for KNCs transparency about mining on their OWN machines. KNC also disclaims they never mine on customer machines, and in fact the machines they used for mining during the initial release were Mars machines, which they also used to demonstrate hashing ability to skeptical customers. They have never hashed more than 5% of the total sold hash rate, and nothing you’ve said argues against that fact, except with speculative conspiracy theories.
It’s good that you aren’t lumping KNC with BFL, but your cynical language, as I said, tells a different tale.
So, to recap: KNCs disclaimers about mining aren’t something that “happened” as you claim. You didn’t “discover” it. They were there before KNC even took their first preorder. Likely all mining companies mine, KNC was just the first to openly admit to it. That’s integrity.
To start with your recap. Where are you getting this from ? are you reading some else his posts ? what are you smoking. I am not stating things just happened after, No these statements where there from the start and that where I based my purchase on. PS I am dyslectic what your excuse for completely misreading my posts ?
Yes of course you can interpret that Q&A in a way that is favorable to them. They are very good at that, that probably one of best quality’s as a company, apart from making awesome hardware.
But normal people like myself look at Plan B as there own data center ! its well over 5% of what the sold and it’s well over a 100% what they sold, and the where going to sell upgrades to there customers as well, but guess what the came back on there word on that.
Since only customers benefit from plan B (beyond the 5%), what is your point?
As to your claim about upgrades, beyond buying new machines (i.e. Neptune/super Jupiter), its unsubstantiated, and even if you can find a source for that, if they didn’t follow through with it then it was just a miscommunication or a scrapped offer, which is the case when many companies which, after evaluating the resulting profit margins, realize they can’t afford to make that offer, and withdraw it. I ordered a low end Mercury machine myself, and they cancelled orders for that after just a few days. I still got my machine, and it hashed 40% above the initial hashrate.
Wow are you serious ? Is KNC paying you for this ? If not they should.
They have there Plan B running but there not giving that hash-rate out any of there Neptune customers yet so what you are stating is absolutely false. Why are you lying ?
In the coindesk article about KNCs “Plan B”:
“This is a plan that the company is *putting in place* (NOT COMPLETE) for CUSTOMERS of its latest model, the 3TH Neptune miner. The options are as follows:
1. Continue to wait.
2. Take a USD refund.
3. Convert to 3TH of hosting performance for a period (still to be worked out, but is likely to be around 6 months).”
If you don’t like plan B, you’re welcome to continue to wait or get a refund. What’s the problem?
I read the article. What the problem ? I told you already just read what I said.
PS Option to is of the table for Batch 2.
I read what you said. There would be a problem if KNC were indeed misleading their customers, using their machines for mining, or deliberately delaying release for personal profit. But first of all, there’s no evidence or solid reasoning for the claim you’re making that they are doing that, and second, competition from other Bitcoin mining companies, particularly Cointerra which managed to release 2 TH/s machines several months before KNC has been able to, ensure that such tactics won’t work. In the end, the free market ensures that the best machines get the biggest share of the customers.
You can read what you want, I hope there paying you for this or else your truly a sucker.
But honestly can’t you read or at least look at the pictures ! There is your proof its allot more than 5% they delivered to there customers. Does customers put there faith and invested (heavily) into them. And this is how they replayed there customers at made already rich in the first place.
I have as not yet speculated on anything like say, if there Plan B caused them to delay the Neptune or not. But now your bringing it up. Just looking at there team it’s only 4 man, it does seem very likely there should have been at least some form of delay. Neptune and Plan B are some major projects that for sure.
KNC is there own biggest customer by far. Cointerra may perhaps under delivered on there promise but until now they are not mining on the own equipment. Which separates building of usage.
Listen up dopey … I have hired people to actually find out if and how much KNC is really mining from their data center. I can tell you Factually that three weeks ago they were mining continuously at WELL over a Peta-hash and that today they are mining at much higher rate than that.
Hey Erik,
I think Ole Tim has a deal with KNC for Free Miners or something … Or maybe one of the guys in the company is married to his sister. I’m pretty sure there’s something else going on there. All he has to do is look at the hundreds of horror stories from REAL KNC CUSTOMERS, total up the Millions in losses depicted in those stories and make a decision based on those FACTS. Of course, he could just be a Progressive Democrat ( Communist Subversive by any other name ) they are genetically incapable of understanding cause and effect relationships.
I am a KNC Neptune Customer and you are wrong. They have not given one customer one cent from the Data Center. It seems to be all BS so they can mine. They then sent all of these used ASIC boards to their waiting customers. Most of all of them failed already with damage from shipping or heat damage. You Timothy Matias have no clue what you are talking about.
You have to choose the ~6 month plan (which isn’t available yet, otherwise they would have announced availability) in order to have access to the data center option. You don’t get the cloud hashing plus the other, you have the option of giving up the machine in exchange for an all-included 6 month cloud lease. They haven’t even completed the data center to provide that option. You clearly have no idea what you’re talking about -_-
Sorry Tim but either you’re a schmutz, a shill for KNC OR you have an indefatigable trust in human goodness.
I can tell you, For A Fact, that the so-called “Folks” at KNC are NOT your friends. Nor are they a friend to any of us.
I took delivery of defective Jupiters from Batch #1 a LONG time ago and had to fix them myself. One of my New Jupiter’s had mined 761 BC … before I ever put hands on it. I have been through the ringer with these creatures for a very long time and I can tell you factually, they are dishonest.
I made the mistake of listening to their self-deprecating BS and placed additional orders for Neptune’s (Plural).
Read my post above.
That is absolutely correct;
KNC has Never, as far as I can tell, made good on even a single offer to compensate any buyer in any regard whatsoever.
One thing that bothers me though is that everyone refers to their “Plan B” as being compensatory … IT ISN’T.
Under Plan-B, You weren’t mining in their data center and “waiting” for your Neptunes … You were actually “TRADING” your Neptune Order for a 3-month Mining Contract in their Data Center … Period.
At any rate, I don’t think anyone has actually been foolish enough to take them up on it. More likely, they never actually made good even on that “offer”.
KNC promised Q1/Q2 for the Neptune and plan B states that they will allow us to use their mining farm for 3TH/s in June (but they don’t give an exact date) based on a “best effort”. So they clearly have about 3.6 PH/s capacity RIGHT NOW and judging by the blurred fan blades, they are mining with it RIGHT NOW even though they promised not to mine with more than 5% of sales to customers. As we can plainly see, they ARE mining with much more than 5% of their sales to customers. In doing so, they are increasing the network difficulty which has a detrimental effect on the Bitcoin producing ability of the pre-ordered miners their customers will eventually receive.
On top of the mining farm, they had 400 available 3TH miners in the form of 18 modules used in the Mercury, Saturn and Jupiter products which they would gladly trade you for your Neptune straight up with NO WARRANTY (also per plan B). This equates to 1800 Jupiters – also more than 5% of their sales to customers which they were no doubt mining with already. If they weren’t mining with them, then why were they “sold out” of miners? It makes no sense that they had these on hand otherwise.
Plan ‘B’ is not for customers as much as it is to get some publicity. This very fan-boy article is proof of that. The mining center is not “a facility that allows customers to mine before they’ve even received their hardware”. It is for KNCminer to make money – period. Otherwise, those of us waiting for our Neptunes which they promised us in Q1/Q2, would already be hashing away rather than hopelessly wondering how much more of our shirts we stand lose by waiting.
Yes and OF COURSE they will refund your money! They have already used it to build the data center, mine a bitload of Bitcoin and unload it just as quickly for US dollars. Once they refund your money, they will put the Neptune in their data center and have a 3TH/s miner produced with your capital and no interest costs that they can resell in the cloud for many times the initial cost of the equipment or use to mine Bitcoins for themselves to dump on the market for US dollars.
Customers who purchased the Neptune are the losers here any way you hash it. For Kennemar ‘n Cole, any outcome is win-win.
Erik is right.
bunch of anti-customer competition-mongering whores. This company has no integrity whatsoever. DON’T GIVE THIS BUNCH OF LIARS AND CHEATS YOUR MONEY.
hey Dr Bunsen… when do we send these broken boxes to our victims? What do you mean we sent them broken boxes already? Oh. OK.
The problems at KNC are much more serious than faulty products but, for the record, the real problem with the “Franken-Jupiters” originated with the Chinese manufacturer who glued the components to the PC-Boards but then neglected to actually SOLDER the components in place.
The same scenario existed with regard to the ASIC chips or at least with the heat sinks intended to cool them. The heat sinks were pressed in place over a layer of thermal paste but the manufacturer then neglected to set the screws that held the heat sinks in place. The absolutely remarkable thing is simply that some of the units actually turned on and operated for a short time … until the heat caused the thermal paste to fail, releasing the heat sinks … which promptly fell off, dislodging other “glued-on” components and releasing the precious smoke from within the ASIC’s.
KNC and their foolish data center are competing not only against US, but against Themselves. As a result, They have defaulted not only on shipments for their various miners, but also on ALL refunds due and payable since March 8, 2014.
Apparently, KNC has disabled the Login Accounts for virtually everyone who has demanded a refund. This has undoubtedly been done to avoid the necessity of responding to hundreds of complaints destined for the KNC Forums and to make it all
the more difficult to hold them publicly accountable or to demand a refund in the first place. They also routinely remove forum posts “overly critical” of KNC and/or those alleging criminal intent.
Their strategy with regard to refunds seems to have been to collect the banking information from those demanding refunds and then, after a good long delay, to “attempt” to send the requested refund by Bank Wire. What they aren’t telling anyone is the collateral fact that their financial arm is intentionally altering the Bank’s Identity info in such a way as to guarantee that said “attempted” refund will be “kicked back”.
In this way, no funds are actually removed from their accounts and they get to tell the “unfortunate” customer that they “really tried” to send the refund … and that another attempt could now take many more days and that they cannot “rush up” that delayed process.
KNC is also pulling a “Fast One” on the Swedish Authorities who have stiff consumer protection laws… Laws that effectively invalidate the usurious contract they made their customers sign. Internally, KNC is “pretending” that all sales of it’s products are made to “Business Entities”, allowing it, for the moment, to skirt the aforementioned consumer protection laws, particularly with regard to refunds for late deliveries and faulty products. That charade is about to end very badly for KNC.
We have placed several orders ( the least of which exceeds $30,000) both personally and through our various business
entities, eventually requesting refunds for all of them, most prior to March 8, 2014. The pattern of deception with regard to those refunds brings one to the inevitable conclusion that the indicated behavior is criminal and essentially, theft by deception.
We have determined that civil litigation would be wasteful of both time and resources and that the best course of action, for everyone involved, is to file criminal complaints with both the Swedish National and Stockholm authorities … perhaps with the EU itself.
To this end, we have contacted a legal firm in Stockholm to act as our agent and intermediary for the filing of said criminal complaints and did, in fact, initiate that process a few days ago.
Not materially different in effect than MTGox, nor an exhaustive litany of their intentional transgressions, KNC is essentially an ongoing criminal enterprise insofar as they continue to advertise and accept money for products they have neither the intention nor the ability to deliver, that they illegally divert both funds and equipment into their “Data Center” and that they use
deceptive practices in attempting to avoid paying refunds. One might argue that placing OUR MONEY into their super-duper-Bitcoin-Pooper, prior to shipping our products or delivering our refunds … is also criminal behavior.
Meh. My batch 1 Jupiter is still going, just over a year I’ve had it. I’ve lost track of how much coin the thing has made me.
KNC at the time promised that they had no interest in mining for their own purposes, as it would be unethical to use their customers to generate funds only to have their investment squashed by economies of scale.
ha ha