Quote from: paulk11087 on October 22, 2014, 06:05:44 PM

So I have decided to take the plunge on buying some GH on KnC's cloud mining. I have 800 GH/s with them and I must say, the past 48 hours have been a bust! I've only mined .006 BTC in that time. I have 2 antminer S1's mining on ghash for 360gh/s and I get around .006-.007 BTC a day with that.... Anyone else having problems like this?

glad you posted this. i'll start by saying that i actually had good luck with their first generation of hardware miners. I was part of the October 2013 batch, and received mine 10 days late. sucked, but not the end of the world. when my BeagleBoard went kaput after ~3 months, I did have to cajole them a bit to convince them that flashing the Beagle wasn't doing the trick. they sent me replacement gear that somehow allowed me to has at ~30 GH/s faster than the original. I had to be belligerent to get the service, though.

I got into a discussion with Sam Cole at the time about how their products were overpriced, and I wanted to see them get into cloud mining, since, at the time, they were not on the same level of being crap as BFL was. I was tired of having gear at home, and could mining looked like an interesting alternative. BFL's price was too steep, IMO, and I didn't know how long I would have to wait (and if you have read other threads regarding BFL lately, it's not a secret that I used to work there - and I had ZERO confidence that they'd deliever cloud hashing in time for any investment to be profitable, unless BTC's value went up to something like $500+, but more like $700+, if I recall my calculations at the time....it's been many months since I've been involved with mining). I remember discussing with Cole that KnC would miss out on a huge opportunity, since the majority of new miners were often ignorant of how the technology worked, and that could mining would be a way to attract new customers interested in BTC, but not interested in maintaining the gear. He said they were looking into it. This was probably in February/March 2014, but my memory isn't the best on the timeline.

I knew they built 3 huge data centers, but had no idea they were selling mining contracts. So, they're shit, eh? Not surprising. They had potential coming out of the gate (like for 3 months lol), but they seemed to have gone the way of just about every BTC hardware mfg out there, which is to suck ass. Glad I sold my gear when I did, and thanks for the review on their cloud mining. I will definitely be sure to not consider them, should I decide to have anything to do with mining in the future. Thanks again!