Re: Swedish ASIC miner company kncminer.com

This is puzzling.

They say in the newsletter they wouldn't be taking money before showing a working prototype... But then they cancel the "Mars" product, which is the only existing working prototype (and it's a FPGA, not an ASIC!!!!!), while they open payments for the Jupiters and Saturn (ASICs), for which a prototype is yet to be seen, and we have to pay in the next 7 days or we lose your spot in the queue? Plus, they make a lottery in order to get as many customers paying in the next 48 hours, starting from now?

I'm the only one reading some contradictions in all this?

It's called "bait and switch".

I had high hopes for this company, so it's really a shame that they're pulling the same stunts as all the other ASIC manufacturers. FPGA miners have been available for months, so it's really not that impressive to demonstrate a working FPGA miner.

Giving a company pre-order money in hopes of getting a working ASIC miner months later reminds me a lot of betting on a horse race. If you bet on the right horse, you can make a lot of money (Avalon or ASICMiner stock). If you bet on the wrong horse (BFL), you could be left with nothing.

I really hope a very large semiconductor company recognizes the potential of bitcoin mining in the near future and enters the market so we can put an end to all these shenanigans once and for all.

+1000

This wild west cowboy pre-order horse shit is getting old FAST. Long term (at least in bitcoin terms) interest free loans (which is what I consider all this pre-order BS) are a stone cold gamble on the lenders (purchasers) part and a wet fucking dream come true for the developing company.

So good luck to all the gamblers pre-ordering enjoy shouldering the majority of the risk for yet another start up ASIC manufacture.