I finaly received the activation code aobut 1 and 1/2 hours later. Entered the code and it's working. No $5.00 worth of bitcoin. Guess I am not one of the first 1,000 user.
Seriously, why in the world would KNC want their own wallet program? How does it benefit them?
I could think of several venues:
1. the will make this 'wallet' a default for planB
2. they will get money from those who will send ads to people with bitcoin
3. they want to help snooping by those who think they are entitled to it (what do we know about this company anyway?)
4. they will charge you a little extra for bitcoin transfers
5. they want to become a bitcoin bank with possible P2P lending. afterall, Kinemaar background is in
banking IT.
Why would anyone use online, internet wallets, smart phone wallets, or keeping their BTC's online is asking for trouble. If you do, you are at their (exchanges') dictatorship. Look at Mtgox, BTC-E or any online wallet/exchanges. Can't withdrawal BTC or cash means your BTC is worthless. I keep a majority (of my BTC's) on my QT and transfer a few (into exchanges) just before I sell; in and out.