KNC Miner PERMABANNED for asking awkward questions
I didn't want to do this, the whole "go to reddit with your complaints" but I obviously can't keep my questions to the official forums any more. I created the following thread in two areas of the forum, they have both been deleted since my ban, which is out of the ordinary, as you can usually see peoples post history but the tag BANNED would show up underneath their username. =-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-= You can see here the history of the KNC Miner owned pool over the weeks leading up to the release of the Neptune through until today. Source : http://organofcorti.blogspot.com.au/...n-network.html June 1st 6.49% June 8th 6.14% June 15h 3.13% June 22nd 6.35% June 29th 5.31% July 6th 5.31% July 13th 4.11% July 20th 4.20% July 27th 3.56% August 3rd 4.37% August 10th 3.52% August 17th 3.56% August 24th 3.89% August 31st 2.96% September 7th 2.85% September 14th 3.70% September 21st 3.92% September 28th 4.64% October 6th 4.74% At the beginning of this time period the difficulty was 10,456,000,000, the difficulty is now 35,002,000,000, overall growth of 334%. The June 1st results (6.49% of approx 80PH) would indicate a hashrate of about 5.2PH The October 6th results (4.74% of approx 260PH) would indicate a hashrate of 12.3PH An approximate growth of 7.1PH for the KNC Miner pool over the time period since the Neptune announcement and deliveries began. Assuming 3.6TH per Neptune, this growth would indicate an additional 1972 Neptunes (7100 / 3.6) that have been added to the private KNC Miner pool over the last four months. This, while customers are still awaiting delivery of their Neptunes + Bonus Neptunes. You can see a gradual decline of the % of total hashrate up until late August or early September, this decline is only in relative terms to the total growth of the Bitcoin network. The KNC Mining pool hashrate continued to grow throughout this period. It allows us to pinpoint where they seem to have completely stopped giving a damn about paying customers and started really focusing on themselves. Here it is, the best evidence I could find to support the accusations that KNC are giving us the shaft. Thoughts? Anyone from KNC care to comment on this? =-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-= I saved that post as I expected I might get banned for that rather than get answers, sadly I did not archive what followed so I have to paraphrase from memory. The response I got from Kurt was that the growth I was looking at was due to the spare 28nm chips they had laying around. I did the math on that. I make a post pointing out that this growth would be the equivalent of 10,000 Jupiters (assuming 700GHs ea) being added to the KNC Miner pool. I asked if this is what they're really trying to tell us has happened, if we're meant to believe that this is the case. I ask that KNC Miner state for certain that they have not used any of the 20nm SHA256 chips in their mining centers while customer orders are outstanding. One other person posted in that thread asking similar questions, he was banned as well but his posts remained. No reply. I restated my questions but made the 'mistake' of asking if we can 'get some fucking answers'. PERMABANNED - INAPPROPRIATE LANGUAGE POSTS DELETED THREADS DELETED The announcement where KNC Miner promised a Bonus Neptune. http://forum.kncminer.com/forum/news-and-anouncments/38332-neptune-performance-upgrade "Thanks to KnCMiner’s offer, each customer who ordered a first or second batch Neptune, will get a minimum 6TH for each order, with their original 3TH product shipped in June and the free “third batch” machine delivered in August." We are now in October, they have made no announcements, no explanations and no apologies. The only information that is available is by following the staff accounts on the forums and trying to put together what little scraps of information they give out piecemeal across multiple threads. FUCKING (I can swear here) GIVE US SOME ANSWERS!!!
"If it's easy everyone could/would do it" = bit coin is going up to $XXXXX.00 - a late night Op Ed :)
Tired, steak + beers = my thoughts but here it goes: As difficulty goes up, shouldn't the inherent risk/reward go up as well? Less people will mine, which will lead to a slowing down or leveling off of difficulty. As it approaches "impossible" who would mine? No one! When that day comes, miners will evolve and grow into real businesses (not geeks at home, which is already happening in 2014 with 20nm chips) with real expenses and risks. The price of the next BTC must go up as miners supplying coin decreases But the demand for bitcoin will only increase with time thanks to media attention and widespread acceptance and as demand and difficulty of mining go up, the price must also increase. This is basic supply-demand economics. When supply increases at a pace that is only a fraction of the demand for a single bit coin, the price must go up -- and each miner's reward will decrease. The Fed is doing the opposite with the dollar by printing more (increasing supply). This inflationary measure will only increase the price of a bit coin too! If demand reaches zero because bit-coin fizzles, the same thing that happened to lobsterman will happen to bit coin. The demand destruction in the lobster industry was caused by a trifecta of global macro events: 1-conservation efforts lead to increased supply, 2 -costs for fuel and wages increased causing a dramatic shift in risk and profitability, 3 - and, the economy tanked and people didn't go out and order it at restaurants as often Seems like the emergence/future of bitcoin has a binary future (how fitting) - its all or nothing btw, lobster prices are back up since 2007-2009, guess why :) can't wait for my Neptune LOL
Lets calculate the hash rate at the marginal cost of electricity; 0.10 $/kWatthour 800.00 Bitcoin price 150.00 Bitcoins per hour (using 25 per 10 mins target) 120,000.00 $ Payout per hour 1,200,000,000.00 Watt (price times payout) 0.70 Watts/GH/s (here I used the Neptune 20nm miner) 1,714,285,714 Giga Hash/s (Watt/0.7) This is where I think we will eventually end up should the price stay at this level.
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