Search content
Sort by
Showing 20 of 24 results by squish
Received my refund today.
- 14th Feb made a request
- 14th Feb same day response asking for bank details
- 15th Feb I sent my details
- 17th Feb they confirmed and said details had been passed to finance team
- 25th Feb payment arrives
It's very sad, I love KNC, had an order for Neptune in the first hour or so, but their announcements combined with bitcoin price dropping makes refund the only thing to do.
- 14th Feb made a request
- 14th Feb same day response asking for bank details
- 15th Feb I sent my details
- 17th Feb they confirmed and said details had been passed to finance team
- 25th Feb payment arrives
It's very sad, I love KNC, had an order for Neptune in the first hour or so, but their announcements combined with bitcoin price dropping makes refund the only thing to do.
The VAT situation seems wrong to me
Being in the UK, the law says that if you expect to go over the yearly threshold of £79,000 in the next 30 days the company must register.
Quote
Will there be additional duties and taxes payable on my purchase?
No. The price of the product is the total price you pay. No VAT, No delivery charge. Customs import duty may be applicable dependant on the receiving country procedures. This is the buyers responsibility.
No. The price of the product is the total price you pay. No VAT, No delivery charge. Customs import duty may be applicable dependant on the receiving country procedures. This is the buyers responsibility.
Being in the UK, the law says that if you expect to go over the yearly threshold of £79,000 in the next 30 days the company must register.
Since it sounds like KNC is no longer focused on speed to market I will most likely be dumping my Neptune pre-order as I'm not in the business of financing their next gen miner at a BTC loss which this is starting to look like from my POV. I think it's pretty safe to say Q1 delivery is now completely out of the question and a May/June delivery is quite possible so I will probably be better off buying back my BTC directly unless the difficulty acceleration magically flat-lines.
I feel the same way. Right now I can get 14.6 bitcoins for my Neptune order if I refund ($12174 inc VAT / $830), and bitcoinwisdom says if it is delivered on April 1st with a 25% increase each time (no pool fees, no electricity costs) it will recover about 13.2 bitcoins.
I think i'll wait another two adjustments and then make a decision. If the price of bitcoin goes down it'll be a no-brainer to refund and buy BTC directly.
I was wondering if anyone is using https://www.kncminer.com/products/neptune. Someone told me that it mines 2 BTC a day and breaks even in 2-3 weeks?
Anyone using this?
Also, what is the waiting time for this product after ordering (I reckon a year given the backlog orders)
Anyone using this?
Also, what is the waiting time for this product after ordering (I reckon a year given the backlog orders)
This product is in pre-order and is expected Q1/Q2 next year. Nobody is mining with it.
If it arrives around April next year at a difficulty of 5000m then it would mine about .3 bitcoins per day.
Hi, I love bitcoinwisdom, thanks for such a great tool. If only there was something this good for gold.
Feature request - can you please consider adding feathercoin (btc-e ftc/btc) support in the same way you have litecoin?
Thanks
Feature request - can you please consider adding feathercoin (btc-e ftc/btc) support in the same way you have litecoin?
Thanks
Re: Does BTC need to be over $2,000 in 2014 for mining to be profitable?
Can anyone new make a profit mining in 2014?
I looked up the specs on the new 3,000 GH/s Neptune from KncMiner and thought that it would make a great purchase. But when you try to work out the ROI, the numbers don't work unless BTC gets somewhere close to $2,000, you get the unit next week or you have solar panels.
I looked up the specs on the new 3,000 GH/s Neptune from KncMiner and thought that it would make a great purchase. But when you try to work out the ROI, the numbers don't work unless BTC gets somewhere close to $2,000, you get the unit next week or you have solar panels.
In my opinion, you really should be comparing the number of bitcoins you can buy with cash now with the number of bitcoins the Neptune will mine.
e.g.
- today, buy 15 bitcoins for $13,000. Wait a year. You have 15 bitcoins.
- today, buy a neptune for $13,000 or 15 bitcoins. Wait a year. You have whatever bitcoins it mined.
Therefore you make a "mining profit" if the number of bitcoins you mine is greater than the number you could buy now.
To put that another way, if you could have bought 15 bitcoins now for $13,000 but instead you buy a neptune and it mines only 5 bitcoins, but the exchange rate has tripled, you may think you've broken even but really from a mining perspective you lost 10 bitcoins.
Thus, in reference to the subject line, I don't think BTC needs to be any particular value in 2014 to determine if mining will be profitable or not. The value of BTC does on the other hand determine whether holding bitcoin (and buying a miner is like buying bitcoin in the future) will be profitable.
Me and a friend are considering buying the new kncminer Neptune. It's priced at $13k with minimum 3000GH/s of hashing speed.
How long would it take to pay for itself if we assume bitcoins will be at $800 in six months.
Would we be better off joining a mining pool or do it on our own?
Or maybe it might be better to buy equipment for the same amount and litecoin mine instead?
How long would it take to pay for itself if we assume bitcoins will be at $800 in six months.
Would we be better off joining a mining pool or do it on our own?
Or maybe it might be better to buy equipment for the same amount and litecoin mine instead?
My advice is to compare how many bitcoins you can get now with how many you can expect to mine if you bought the device. Therefore, it doesn't matter what the exchange rate is going to be in the future.
Today you can buy 15.1 bitcoins on bitstamp for $13000.
According to bitcoinwisdom mining calculator, a 3000GH/s delivered on 1st April 2014 with 25% difficulty increases from now until then will mine between 14 and 15 bitcoins.
You have to decide whether you think 25% is too much or too little, or whether 1st April is a likely delivery date, to come up with a conclusion.
Based on these figures, on 1st April 2014 a 3000GH/s device will mine 0.4 bitcoins a day. You do not want to mine solo because the probability is against you that you will find a 25 bitcoin block. That would be gambling. Mine in a pool.
obviously they are saving parts, i got only 4 voltage regulators instead of 8 per board
this causes high temperatures and high power consumption...(and lower Hashrate)
this causes high temperatures and high power consumption...(and lower Hashrate)
That's interesting. Only 4 of the 8 are actually working anyway (as seen with bertmod). They probably realised this and decided not to pointlessly install 8. As such, it shouldn't make any difference.
Well, I'm only quoting the electricity guy's message to me. England moved from 240v to 230v for residential supplies a few years ago and everything still works just as well on 230 as it did on 240 but just used less electricity doing it. I'm guessing he's alluding to this. Most people here still think it's 240 because that's what they grew up with and they haven't noticed anything different plus the devices invariably say 220-240v on them
Actually I think we changed the specifications but not the supply! I think we were and still are on 240v and we fudged it by moving to EU standard 230v with a permitted upwards range of 10%.
I'm in London and my UPS says it's 250v.
Me
1-500 custimer
Old #36x
New #51x
Paid 3rd June.
No tracking or mining.
Not panicking or complaining I'm sure mine will be on the way soon, but the original promise was to ship according to the original 1-500 order number so mine 'should' have gone before that order.
Similarly, I was 33x on original expression of interest, no news either here. I'll keep my fingers crossed for both of us. <>
So how do miners sit in regards to Tax.
Lets say I mine 50 BTC a Month and Sell them 50 BTC for £50.00 Pounds each, total = £2500 pounds.
Do I pay Income Tax at my Current rate, PAYE + BTC's Sold or Do I pay CGT at 18%.
Lets say I mine 50 BTC a Month and Sell them 50 BTC for £50.00 Pounds each, total = £2500 pounds.
Do I pay Income Tax at my Current rate, PAYE + BTC's Sold or Do I pay CGT at 18%.
Mining is self employment.
You should pay income tax based on the bitcoin value at the point it was mined based on that day's exchange rate. It is then your asset.
You should then pay capital gains on the difference between that and the value you later sell it at.
Individuals have a capital gains allowance of £10,900 this financial year, so unless you are very successful or selling something else (e.g. second property) in the year you probably don't need to worry about capital gains.
Ah ok, how?
Is it a SEPA transfer you do initiated from okpay? Does okpay do an FX from GBP to EUR in that case?btc-e says: The presently supported payment methods are : US Bank Wire, EU Bank Wire (SEPA), Liberty Reserve, Visa, Mastercard, Liqpay.com, unikarta.com, PerfectMoney.com, WebCreds.com, Ukash.com, Webmoney.ru.
squish
The way I do it is this:
Get a OKPAY account and got it verified.
Upload GBP to my wallet, via back transfer. (My bank does not charge for this, since it's sent to a UK bank, Barclays)
Then use BTC-e to withdrew the money from OKPAY.
Buy litecoin or bitcoins.
A LOT of HOOPS :-(
Buy bitcoin(s) at BTC-e and sell at Bitstamp!
Get a OKPAY account and got it verified.
Upload GBP to my wallet, via back transfer. (My bank does not charge for this, since it's sent to a UK bank, Barclays)
Then use BTC-e to withdrew the money from OKPAY.
Buy litecoin or bitcoins.
A LOT of HOOPS :-(
Buy bitcoin(s) at BTC-e and sell at Bitstamp!
okpay says bitcoin processing is suspended though? Or is using BTC-e something different?
https://www.okpay.com/en/company/news/bitcoin-processing-temporarily-suspended.html
squish
I'm new to bitcoin but have done lots of reading up on it for the past month. Would love to get into bitcoin mining but with the upcoming 50 to 25 coin payout, I'm a little bit weary about its profitability.
That already happened.
squish
Hey guys, Im new here and pretty new to btc as well. I need help finding somewhere or someone reliable where i can get BTC for GBP. Any help/ suggestions?
Thanks
Thanks
It's almost impossible these days to buy with GBP. localbitcoins.com and bitbargain.co.uk are about your only options.
squish