Ok that's BIG News with respect to payment choice, that's direct credit card payment through a merchant account with an issuing bank, and a payment processor.

In this case it's SEB, which is Sweden's largest and most respected bank, and the direct payment processor, not sure doesn't say who. In any case that's proper, that takes massive negotitation w.r.t. interchange fees. I wonder what boxes they had to tick to achieve that. You have to promise a monthly minimum, typically in the tens, if not hundreds of thousands of $dollars (whatever that is in Swedish Krona), and presumably a very large float due to the nature of this business. Definitely a world first for a Bitcoin related business, and certainly significantly harder than just using Paypal to process payments. Congrats, major kudos, someone at SEB is taking these guys seriously.

Hashfast/Cointerra could get Paypal on board if protecting their customer's funds mattered at all to them (well Cointerra would have to drop their price, unless Paypal is willing to make an exception to their $10K transactional limit - they did promise to accept Paypal), but neither Hashfast, nor Cointerra would be able to offer direct credit card payments with a merchant bank unless they were will to cough up significant funds for whatever issuing bank they would acquire a merchant account from. Apparently KnC has a very healthy set of accounts according to SEB and are not holidaying in the Carribean.

Definitely a major step in the right direction by KnC in offering their customers, and potential customers a means of protecting their pre-order payments. I'm all over Bitcoin payments to them, once they have a product in hand, but after the scams, marketing lies and incompetence endured and continuing on this forum, this makes KnC hands down the only choice for pre-orders in my mind.

The others not accepting Paypal, when they could, and promised to, speaks volumes, they are gambling with customer funds and promising 'simulated' best case chip specs, not the pessimistic worst case KnC are. Under deliver, over promise was what I emailed Sam to do prior to the open day, at the open day, and they have taken to heart as their mantra. These guys are going far, you can't dissapoint when you're honest, and over deliver.

Integrity, you decide who has it, for me it's now blatant. Nuff said, no fanboy crap, look at who treats their customers best, and who treats them with marketing fluff and contempt. It's crystal clear.

Aside from the obvious chip arrival, and delivery, this was the news I was waiting for a mining manufacturer to state. Like to see another attempt this, bet there won't be, because it's clear none of the others gives a damn. I didn't even think it was possible for this business model to get a merchant bank account, apparently it is, in which case what the hell have all the others been doing, oh yeah, gambling with your cash.


P.s. Bargraphics, damn straight!

I just ordered a Saturn in hopes of it being the first miner purchased directly via CC.
BTC History.
(yes, I can afford it)

Thing is shipping in two weeks never needs to be said, it just needs to be done. That's the difference.

You missed the 'h', and the 'd' there.

Try it with pre-orders, bet you have to have a siginificant float as you own pre-payment with $7k orders. I know this as I have a friend in distruptive finance, and the money lending game, they wanted a huge deposit, in the hundreds of thousands, cloes to £1m, and his loans were small, but frequent. I was sat in the meeting with the head of MCard Europe opposite me, IDT Bank, and Yalamanchili as the payment processor. I know exactly what they had to negotiate upon, and it equalled two months worth of lending. I'd be surprised if this was any different with pre-orders, as once a product is delivered (or in my freinds case several months of loans had been repaid), you have movement with them. Your merchant account came from items in stock, I bet.

Porn, or money lending, the example with my friend was unheard of, IDT was the only bank we came across that would consider this for short term-lending in the country he was trageting (it was in Europe, but outside the UK).

This was dealt with a month ago.  You might want to go take a look before repeating something that is no longer true.


  

No, you can enter a worker name and worker password, but they don't currently have a free-form URL field You have to pick from one of the options they give you.  Slush is on the list.

However, I would not use slush if I were you, you don't get paid fully unless a block is found while you are hashing with them for at least 10-20 minutes, and you don't get anything unless a block is found within 20m of you stopping hashing (and almost nothing if it's more then 5m after)

Go with a pool doing a PPLNS or PPS.  Eligius will give you the most interesting stats, but you don't have control over payouts.

Not all banks have the same requirements for merchant accounts. While some may only need you to pay a monthly fee to swipe cards, others require much more investment to take cards online, especially international orders.

Either way, this is either an excellent long-con with well-done professional highlights, or they're really hanging their ass out the window for the customer's loyalty.

I'll be honest, either the long con or the loyalty aspect will bring you about the same amount of orders right now. BFL has ensured that, and truthfully my wager is that this is a legit business. They'll make more money being legit at this point.