nonsense.

KNC clearly scammed their customer by providing constant lies.

1. the promise not to compete against their own customer over 5% of the customers hash rate, as of this writing they currently mine over 9% of the total bitcoin network.

2. The promised refunds, they are delaying refunds so much, it is giving the impression that refunds have stopped, no one is known to have recently been refunded, and they are not being transparent at all.

3. The offered a free unconditional second neptune to discourage more refunds, that was not honored since the second neptuned is under the condition that you do not accept the offer to mine while you wait.

4. The were late on shipping, batch 0, 1 was supposed to be delivered 1 month before batch 2 and batch 2 was due on q1/q2, this did not happen. They where late.

5. They build a huge data center with customers money, money which was meant for the unique purpose of the construction of miners.

6. The offered new equipment, and super jupiter customers got defective used equipment, they were cleaning their data center to make room for the neptunes, but told the customers another well known story which was another scam.

7. They are violating EU law by not honoring refund within the 30 days that the law stipulates.

8. They sell a product which is a fire hazard, and more than one fire will occur it is a matter of time, they are pushing over 400 watts on a port that was designed for 150 watts, that is outright illegal, it violated UL and CE standards, and that is why their products are not certified for safety, it is not the excuse they tell customers in regards the power supply, all other mining companies ship a power supply with the miner.

9. They delete posts from their forum which are not on their best interest.

10. They are known for banning users for the same reason.

11. To prevent further refunds they started shipping before announcing final specs, and some customers that wanted refunds as of recent for miners that have not shipped could not get refunds since they have started the shipping process.

12. Some Neptunes delivered recently do not work.

13. They now claim their customers are businesses even though they do not operate as a business, have no business affiliations, and are clearly end users.

and I am sure other can point other things I may have missed, but what I mention above alone is enough to put KNC almost at the same level as BFL, they are outright crooks.

I have to point out that given enough time every crook meets its match, and it is bound to happen.

Dogies rating of mining companies have lost all of my respect, for rating a company that is scamming, and failing to  provide refunds as good, with a comment that they honor refund, and they are not honoring refunds based on evidence seen on this forum, redit, and their forum.
If I were to rate them it would be a D-.

Sam Cole are you listening, if you want to clean up your dignity now is your change, otherwise you are proving us that you have no dignity, it is not because  I  say it, it is your actions that define you.

That sam arsehole, is a man of no dignity, he promised not to mine over 5% of the customers hash rate, and now he is not honoring the refunds that were promise, he is a thief.

We should organize, we should not let this crooks get away, they have stole millions from miners like you and me.
he sold used junk as new.

He is pure filth, he could sell his mother if he could, a perfect example of pure greed and evil.

Bitmain has the opportunity of a lifetime in become the number one hardware vendor if they do things right with the S3.

As of now we have a lot of crooks running large mining data centers such an KNC, we need to decentralized that as much as possible, we need for mining to be available for the average person, that will eventually happen like it used to be, but now the ball is with Bitmain, if the play the cards right or wrong.

I see 2 cases:

case 1:
This is the most likely case which is not bad, but ti is not really that good. Bitmain releases S3 miner and it is priced so that it barely ROIs, then the difficulty goes up by 30%, and then price is reduced by 30% so that it barely ROIs again, and this process is repeated several times, everyone is happy, but nothing special happens, with this approach profit per S3 is maximized, but sales are ok, but bitcoin mining keeps centralized hurting everyone in the long run.


case 2:
Independent of ROI, lets say they decide to sell the S3 for a 5% or even 10% profit over the hardware cost and sell from stock, immediately S3 would sell out, probably S3 would sell out as fast as they can be produced, and this cycle would be repeated several times before  there comes a time in which they do not sell out immediately.
Bitmain could limit orders to 1, and just have a massive amount of orders, this would greatly help with decentralization of mining.
What could be accomplished is to decentralize mining, Bitmain would become the biggest hardware vendor,  it would help preserve a decentralized bitcoin economy, Bitmains profit would be much higher than in case 1 since the sales would be a lot bigger.
The limit of 1 per order would be critical for the decentralization, otherwise companies like BFL, Avalon, and KNC could buy huge amounts of S3 screwing us over again.

That is my opinion, now Bitmain probably has the chance of a lifetime to help to decentralized the bitcoin mining, and it creates a win-win situation for most of us including Bitmain, but I am afraid it will not happen since they will prefer to maximize the profit per unit, instead of maximizing the overall profit by having huge sales.
 
 With case 2 not only we help to decentralize mining, we all make more profits on the long term, including Bitmain, since otherwise a large part of those profits are taken by the large mining companies like BFL, Avalon, KNC, and many others, the only losers in case 2 are the large mining companies.

I would strongly recommend for Bitmain to consider case 2 as a case to study, I think it would help us all.
The only limitation in case 2 would be how fast Bitmain can produce the miners.

Bitmain are you going to reward your loyal customers with some good coupons without expiration dates for the S3, and S3 updates from S1 ?

Spondoolies will be not be a match for the S3, for one simple reason:
S3 sells from stock.
SP30 is a pre-order, I would stay away from all pre-orders, they are very high risk. just take a look at all the mining companies that have gove corrupt BFL, Avalon, and now KNC.
Now if Spondoolies changes their policy, eliminates all pre purchases, and sell from stock, it would be interesting to see which product returns a better ROI, but as it stands now the S3 is a far better choice, anytime when you have to decide between buying from stock or pre-order, buy from stock.

As of this writing at current time, Bitmain seems to be one of the better mining vendors, the day the start pre-orders and mining for themselves we are screwed and time to look for another vendor, but at present they seem to be the best.

Warning about coindesk, they are censoring  posts that contains  links to either this forum or the KNC forum that mention the KNC refunds.

you can check yourself, make a post to a link in regards knc scams and see how quickly your post gets deleted.

Do not trust coindesk, anyone that is against freedom of speech, specially when trying to warn miners about the KNC scams is unethical.

They have posted an article pro KNC ignoring all the facts in regards to the scams in regards the super jupiters and the fact that they are withholding refunds, I have a strong feeling coindesk are being paid by KNC to post only good things about KNC and preventing the truth in regards KNC to be posted, that is unethical behavior of coindesk which present the post as an independent article which in fact it is a KNC commercial.

here is the link, post anything against KNC with links and see how quickly your post gets deleted:
http://www.coindesk.com/kncminer-unveils-20nm-neptune-chips/#

At this point I would not trust coindesk for the review of any products, since the reviews are rigged and most likely paid by the company being reviewed.

Spread the word about KNC fraud to prevent more miners from being scammed, there is plenty of evidence.

I am allowing the users to change vote, to update the poll when the user gets the refunds if he/she gets it.
I will make another poll to check how long refunds are taking, I think both polls are needed, this poll would indicate if refunds have stopped or slowed down.
I am also allowing up to 5 votes per user, it is one vote per Neptune.
If you did not ask for a refund, this poll does not apply to you.
The goal here is to have some idea in regards the refund queue, KNC is not being transparent and I feel we are at great risk of loosing our money, by alerting other it will motivate KNC to expedite refunds.

From here down is a direct message to Sam Cole:

This is an open message directly to Sam Cole, this message is for you Sam Cole, we know you go the money, you built a huge mining data center with our money, if you have any dignity left in you, which you probably do not have, I call you to refund everyone that has requested a refund in an expedite way, 1 month, 2 months, 3 moths only shows you have no dignity, you are a low life scumbag that can not keep his word on the promises made.

Remember Sam Cole you promised not to mine over 5% of the customers hashing power, please explain what is this: follow the link
http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11237976

Yea that is right, you have failed in your promise, you are a man of no dignity, no scruples, no consciousness, scamming miner that have a lot less than you.


Remember Sam Cole this promise highlighted in red:
http://postimg.org/image/epebmgbdp/
"All refund will be returned in dollars and you can refund up to shipment"
Is it the reason for the delays that you plan to ship the miners to customers that have requested the refunds, that would be falling extremely low, what a disgrace to society you are Sam Cole, I feel sorry for you, I have a lot less  money than you and I have never scammed anyone, all the money I have is clean money.

You are a man of no dignity, and here I am giving you your change to prove otherwise by refunding everyone in an expedite way, we know you can do it, this will reflect if I was right or wrong, and it will give to a change to prove yourself.
Also make the information in regards the refund queue public, we all want to know where we stand.


Do not be an scumbag and honor the refunds now!!!! We have been waiting for months now for refund and we are truly tired of scambugs like you, you are definitely not the only scambug at KNC but I had to start from the top.

I will not stop until we are all refunded, and do not even think about running with out money.

If for some reason I was wrong I will give an apology, but as things stand I am giving a change to prove that you have dignity or that you are a low life scammer with no dignity, by refunding us it will prove that I was wrong and it that event I own an apology, if the refunds take over a month from now there will be no apology, since a month is what EU law defines as the legal limit for a refund to take, by not refunding us it will show that everything I said about you was right.

The ball is in your hands, will we get the refund we are asking in an expedite way?

We will see if you have more greed or dignity, depending on how the refunds go.

My last words you Sam Cole are an asshole, and I am giving you a chance  to  prove that I am wrong, I am sure few if any people call you an asshole and give you the opportunity to prove otherwise and correct a wrongdoing.

Note: I have never insulted anyone on this forum in many years, but Sam Cole really earned what I told him, I hope that for the benefit of all the miners that have been scammed this post does not get deleted, after all my goal is to show the real face of KNC in order for the miners to get their refunds.
 
We got scammed by BFL, enough is enough, we have to stop scammers before it is too late.

I am under lots of stress thanks to KNC.


 

At this point int time KNC can not be trusted, here I posted a link to my other post:

https://bitcointalk.org/index.php?topic=384125.msg7356095#msg7356095

The are taking forever with refunds, scammed super jupiter customers, and basically broken all of the promises they have made.
For more details follow the link above, some will agree with me some will not, but a lot of the things stated are facts not opinions.


I would want everyone to get a refund for several reason, the biggest one is once a company does not respect their own customers and breaks their own promises anything is possible, just look at the super jupiter customers.

What warranty do you have that Neptune will not turned out to be like a super jupiter, absolutely none, even getting a refund which was supposed to be a safe choice is now risky refunds are taking over 2 months in btc, and over 3 months in dollars based on what has been posted on the knc forum and this forum.

My personal recommendation is to get a refund soon before it is too late, it may be too late already we do not know that.

Once trust is broken there is no honor, once you get the neptune there will be no refunds, that is what knc did to super jupiter customers, what makes you think you are different than a supper jupiter customer? we are all the same, if the super jupiter customers got scammed, we could as well get scammed, I have already requested my refund, and have been waiting over a moth for it.

When refunds are delayed it is a very bad sign, intersango, cointerra, BFL and now KNC they have all delayed refund, and we know how the first 3 turned out to be, knc is following the same path.

I did my duty in warning everyone in regards of KNC, hopefully I am wrong but all the evidence says otherwise.

I did warm people in regards gox unethical behavior in 2012, hopefully some listened, I was criticized back then by a few because mtgox was legit, I had no clue how bad things were and what would happen 2 years latter.

My warning against gox on this forum in 2012, was about unethical behavior, the scam back then, it was an anonymous site no id was required, no kyc rules, and then later in 2012 they started freezing withdraws on anonymous accounts, nothing wrong if they have a change in plans, but the problem was that customers did not have an option to opt out, like saying you changed the rules, now I am out, but instead by force they had to ID otherwise the money dollars or BTC were confiscated (not possible to withdraw), this was in 2012 approx, I would have to check my own post for exact date, it was the very first sign that things were wrong at mtgox, wrong from an ethical point of view, from a legal perceptive I do not know but I would think that was ilegal. As early as 2012 mtgox had experience in blocking withdraws.
I did try to warn people, most did not hear, probably a few did, most likely because mtgox grew exponentially, and since the anonymous accounts where only the really early ones, the only really affected by the first scam were an early generation of bitcoin users as mtgox grew this users became an increasingly small percentage, maybe some of the people that have been around here a lot can remember that first mtgox scam.

Now I am warning in regards KNC, a situation that is looking uglier each day that passes.









 

It is time to get a refund, even then things look ugly. Many miners have requested refunds in BTC and they are taking longer than 2 months in BTC, in dollar the wait time is much longer.

In my opinion things overall at KNC look really ugly, not quite as ugly as BFL, but getting there, and would not be surprised if in a few months they are the new BFL.

Remember the KNC that we knew in 2013 is not the same KNC I am talking about today.

Just a few observations:
1. They promised not to mine over 5% of the customers hash rate, they mine more than all of their customers together, they were one of the main factors in making the equipment they sell obsolete. That promised was broken.
2. They offered refunds for Neptune Batchs 0,1 and 2 (not 3), they are not honoring those refunds in good faith, having to wait several month for something that could be reasonable be done in 24 hours is not good faith, European law considers the deadline for refunds 30 days. Here is the link:
http://ec.europa.eu/justice/consumer-marketing/rights-contracts/distance/index_en.htm
so this is another broken promise, the law says a refund should take up to 30 days, and KNC is taking over 3 months in some cases, as it can be seen on the forum.
3. They offered, new hardware ready to go with the exception of the power supply. super jupiter customers got partial kits, they had to build their own cases, their own mounting hardware, and the hardware was used not new. another broken promise.
4. The offered plan B in which customers could start hashing on their data center early June, currently no one is hashing on their data center, and early June is over. another broken promise.
5. Late on delivery and fail to admit it. Batches 0,1 were promised to be delivered on Q1/Q2 - 1 month, and  Batch 2 was offered on Q1/Q2, in other words batches 0 and 1 were going to be delivered a month earlier than batch 2 but delivery for batch 2 was Q1/Q2. Well for batches 0,1 they are clearly late, the end of May is over. the reason they did this was batch 0 costs $10000, batch 1 $13000, and then batch 2 $10000, people in batch 1 paid an extra $3000 to have it a month earlier of course when batch 1 was sold they did not say batch 2 was going to cost $3000 less. Well they are late, and this is another promise broken.

So right here I have just listed 5 promised they broke, I am sure some of you guys can mention some I have missed.

Unethical behavior, not illegal, but something a decent company does not do to their customers:
1. They have began to ban users on their own forums.
2. They have began to delete some posts especially the ones that talk about refunds, or super jupiters.
3.  They silently eliminated all  refunds from new purchases, Titans, and Neptune batch 3 do not have the options for refunds.
4. The terms and agreements page silently changed, they removed the original page no longer found on the knc forum, but found on other pages, and replaced by a different terms and agreements page, the warranty was 1 year, now it silently changed to 3 months, so if you were on the 1 year warranty, now they will refer you to the 3 month warranty since the original page is missing.
5. They promised not to compete in mining against its customers because they said it was not good for their customers, and now that is exactly what they do.
6. Lack of transparency, like there is absolutely no information in regards the refund queue, even though it has been asked my many to know their positions in the queue to monitor the process in refunds, but KNC will not provide this information.
7. Lack of transparency in regards the progress of Neptune.
 

So at this point with so many broken promises, so much unethical behavior, and absolutely no signs of them correcting themselves, how possible on earth could you trust them, at this point trust is completely lost.

All of the good references about KNC are from last year, even if someone were to ask me about KNC last year I would say they were ok, but all the bad about KNC has been building up slowly since this year.

They could very well be planning to burn their customers in regards refunds, after all they did burn and really burned big time the super jupiter customers, I would be highly surprised if you can find more than a few happy super jupiter customers.

Super jupiter was an scam to clean their data center of old hardware in preparation for the Neptunes, so they offloaded that junk onto their customers, once customers realized the junk they were getting KNC denied all refunds.

For all of the above reasons, they can not be trusted, trust has nothing to do with the hardware, it has to do weather they will honor on good faith what they say, once trust is broken it is very difficult to repair that, since they are purposely scamming their customers.

Anyone can make a mistake, but with KNC the problem could be greed, there is nothing in the world forcing them to lie to their customers.

I have a bad feeling this is another BFL, mtgox, we will have to organize, they have the money, and I am sure we could be refunded in a timely manner if they wanted to.

If after all the warnings I gave you about KNC which are facts which many can prove to be correct, you still trust KNC you are taking a huge risk, huge could be an understatement of the risk you are taking.

I gave warnings about mtgox in 2012, the warnings I gave about gox were much lighter than what happened in 2014, thats because they were showing bad signs by unethical behavior, but hard to predict accurately what was going to happen 2 years latter.

Intersango, was delaying btc refunds and we all know how that turned out to be.

Now I am givings warnings about KNC, I have no clue how bad things can get, but as of now they look really ugly.
My personal recommendation is to try to get a refund, but at present time even that is risky since refunds are mostly stuck in a queue that does not move.

Yes they are late. they promised for B2 Q1/Q2, and it was promised that B2 would be delivered one month after B0/B1 so if you do the math they are late, for B0/1, or in other words B0/1  would be delivered one month before B2, if B2 is Q1/Q2, then B0/1 is Q1/Q2 -1 month, they are late according their own terms.
The last month for Q2 is June, minus a month for B0/1 and you have May, we are on June they are a month late.
Remember customers for B1 payed $13000 for a Neptune, it was for being delivered a month earlier than B2 which was $10000.
B1 was not Q1/Q2, it was Q1/Q2 - 1, B2 was Q1/Q2.

And as far as refund not having stopped, we do not know that, for practical purposes they have almost stopped since EU law allows only for 30 days delays, they are taking over 2 months on some cases, and when asked they reply "shortly", "soon", "sometime this week" which is misleading, as far as information of the refunds queue, there is absolutely no transparency,  they will not provide that information, the only info we have is what we see on this forum, on redit, and on the kncforum to some degree since they are deleting posts in regards refunds. What we do know is that the productions of Neptunes was limited and only Batches 0,1,2 are allowed refunds, customers on Batch 3 got burned on only on no refunds but only a 3 month warranty instead of the year, so there should not be a reason for such large delays, delays which exceed the legal limit, from a legal point of view it is like if refunds had stopped. I hope you are right and refunds do not stop, but the lack of transparency is painful.
A B is normally considered good, KNC is definitely not good.

It does matter weather it is new or used, there are many reasons but the most important one is that you do not want to buy from someone that is competing against you since you are the little guy and will always be at the loosing end.

If a company mines with the hardware that they sell they will not be motivated to sell if they can ROI by mining it is that simple.

If they are only a hardware vendor, their goal is to make profit selling hardware independent of how much you ROI, this will happen eventually some big company that only sells hardware will sell hardware at much lower prices because it is in relation to how much the hardware costs not how much it ROI's and all mining companies that mine with the hardware that they sell will stop selling because they will prefer to mine to maximize profit, but it the end they will get burned.

think of the old days, video cards were sold in regards  to the hardware not in regards the ROI, and you could generate lots of profit, if someone tried to sell a video card based on ROI like on ebay, they could only do it while they  were sold out on newegg, buy.com, amazon, etc as soon as this vendors got new stock the guy that was selling based on ROI on ebay could not do it, since the price based on hardware was like 1/3.

Same thing will happen to Asics, and Satoshi's dream will become true as far as mining, but it depends on us, this are a few things we must do:
1. Do not buy preorder, only from stock.
2. only 1 Asic at a time, if you get burned, it will be only one, and then post here to warn others.
3. Do not accept used gear from hardware vendors, it means they compete against you which is unethical. Nothing wrong with used gear from ebay or craiglist from an independent miner, and independent miner is not a hardware vendor.

And I am sure some of you can complete this idea much better, but what I have mentioned is the start of and idea of how to fix this Asic mining mess, this mess did not exist in the days of CPU and GPU mining.

The reason is that CPU and GPU vendors in general did not sell based on ROI, it was based on hardware cost, the same should be and it will be for ASICS, it is a matter of time, but we can help accelerate this process.

If I ever get used gear from a hardware vendor, I a done with them, based on ethics, not based on weather the hardware works or not.

Things are looking ugly at kncminer, they are deleting their customers posts in regards refunds, refunds taking several months, super jupiters customers being scammed with used and faulty equipment.

Thats not good, they are doing the same sort of thing that BFL was well known for doing.

They also lowered the guarantee from 1 year to 3 months, taken down all references to the 1 year guarantee.

It seems they may be planning on filing for bankruptcy and taking all the bitcoins with them.

It would be a good idea to track their bitcoin wallets in case something goes really wrong.
 
Here is an example of a removed post, this one is in regards the old 1 year warranty
http://webcache.googleusercontent.com/search?q=cache:zv3aAqwHUYgJ:forum.kncminer.com/forum/resellers-affilicates/general-questions/43923-important-quote-from-other-user-we-all-need-to-read/page2+&cd=1&hl=en&ct=clnk&gl=uk&lr=lang_de|lang_en&client=firefox-a


Here is a link about a refund that is gone:
http://forum.kncminer.com/forum/resellers-affilicates/general-questions/43923-important-quote-from-other-user-we-all-need-to-read/page2
Ironically the link was provided by a knc moderator, as it can be seen in the page below.

The link originates from this page which is still there:
http://forum.kncminer.com/forum/main-category/hardware/41492-kncminer-uses-fine-print-claims-in-terms-and-conditions-to-avoid-refunds/page2

There is another link on this forum where people are tracking down refund delays:
https://bitcointalk.org/index.php?topic=601855.40


It looks really ugly, it is not time to relax a neptune costs 10 to 13k and it will not ROI, since it is only rated at 3 TH/s, and late on delivery, and refunds are moving at an extremely slow pace.

I have to disagree in regards to KNC, they used to be a good company last year, but this years things have changed drastically and it can be seen in the forums.

KNC failed on their word not to miner over 5% of the customers hashing power.
KNC sent used and defective equipment to super jupiter customers and did not honor refunds for them.
KNC has a delay of 2 months or more on something that was guaranteed in the contract when the Batch 0, 1 and 2 where purchased, now the current contract offers no refunds.
KNC posts of their forum seem to get deleted, I had made a post on their forum, and a customer made a link to https://bitcointalk.org/index.php?topic=601855.40  my post was deleted, and a message that person sent me was made unavailable by KNC.
KNC is late on delivery with the Neptunes.

Under those conditions I fail to see how KNC would be B rated, I would personally rate it D-.

At any time refunds could stop, I see no other reason for the delays, since the production on Neptunes was limited to 12000 for each batch, and based on a survey I the number of refund is about 30%, thats about 1080 Neptunes, we could safely assume a ballpark of 1000 Neptunes being refunded, over a 6 month period, thats about 8 Neptunes per day on average, how is it possible that they are not keeping up?

They are late, since on Batch 2 was promised a delivery on Q1/Q2 and a month later than batch 0 and 1, that makes the deadline for Batch 0 and 1 the end of May, and plan B is not taking effect.


My general advice for buying mining equipment:
1. Do not buy from a company that mines themselves, they are either a hardware vendor or a mining company, but not both.
2. Do not purchase on preorders, say no to preorders, that will hurt of all of us and goes against the spirit of Bitcoin.
3. Bitmain seems to be the only honest mining company so far which ships within 48 hours, but the problem is that they do not ROI, the S1 barely ROI's, and when bitcoin price went up and they could ROI, the miners price also went up making them not ROI by definition even with the coupon, it is a matter of using the calculator bitcoinwisdom or any calculator that considers the difficulty increase.
4. When doing mining calculations for ROI, always use a calculator that takes into consideration the difficulty increase in a period of about 10 days, historically the difficulty has increased as much as 30% percent if not more, it is safe to assume 15%, anything less you risk loosing money, nothing wrong with comparing mining calculators, if 2 calculators have the same input they should provide same output, if not, one of them is wrong.

I am very upset at KNC we trusted them and helped them get their business going only to be betrayed by them.

If you go to any mining site and only see preorders, stay away even if they deliver, it is not in our benefit, it is time we organize and support companies that help us, not the ones that betray us. There was a time in which preorders were sort of ok since this companies were starting out, but we all know know that turned out to be, now it is time based on principle to say no to pre-orders even if the deal looks good, principals are first, after all thats what got us to use Bitcoin in the first place for many of us, a matter of principals against currency corruption.

It is a matter of time until some of us get burned again with pre-orders and it will happen.

KNC to improve their rating back to  B or better would have to do this:
1. Would have to honor all refunds in an expedite way.
2. provide a solution to super jupiter customers.
3. get rid of their data center if they pretend to be a bitcoin hardware vendor, since that data center was built for them not us, plan B was an evil excuse to justify their actions, after all they offered the guarantee not to mine over 5% of the customers hash rate, well that 5% is so far off, that to compensate only 0% would work.

My prediction is that KNC will be the customers of their own neptunes, and when they are old they will be sold as "super neptunes", be very careful if you ever hear the word "super neptune" from them, the same for "super titans".

Requested refund on May 15 for 2 Neptunes orders.
Refund was in BTC to expedite process according to KNC.

Still waiting for refund.

Also on the KNC forum there was a link to this page posted by one of the users, which seems to have been removed since it can not be found, and it was a link fairly new.

On my last email I got from KNC they are claiming refunds will take 1 to 2 months in BTC and more for wire, that is completely unacceptable, it seems they are following the path of BFL.

I have been waiting for over 3 weeks for 2 refunds. Refunds seem to be stuck, they will not inform about the position in queue.
The Neptune will clearly not ROI so I have asked for a refund from knc with no success so far.

BFL is an scam company.
Last year on May I ordered a Jalapeno, which had a delivery date of 2 months, well after about 5 months I requested a refund, the refund was approved, but never executed, it was impossible to call BFL, and emails would be ignored by them, after 8 months I got the jalapeno even though a refund had been requested and approved. needless to say that the jalapen~o did not ROI, and it would overheat really bad, I had to create my own cooling solution for it.

My advice, only deal with companies that deliver on time, and stay away from all preorders, most preorders are scams.

I believe only if you touch the dollar. crypto to crypto may not need registration, this was an old believe but it may not be accurate since the laws have changed in unbelievable ways just in the last year. Also Fincen only applies in the USA and in the so called friendly countries, in truly independent nations Fincen does not have jurisdiction. Fincen overseas will only be enforce for very large sums in non interdependent nations, for example Liberty reserve was based on Costa Rica but since Costa Rica is not an independent nation Fincen rules could be enforced.
 

Are there any plan to make the S2 be able to ROI, at the current price it hashes at $2.3 per GH/s vs the S1 at $1.3.
The S2 should cost a little more due to the case and the power supply, but at the current price it is almost double the price and does not ROI.
I think a fair price would be at around $1.5 per GH/s this way it is possible to ROI at current difficulty rate.

Using any calculator that considers the difficulty increase, and using a difficulty increase of 18%  indicates the S2 does not ROI at current prices.

As of now the S1 is the only miner that can ROI, but the problem is that due to the extra energy it uses it will soon be obsolete and for the S2 to take its place the S2 must be able to ROI.

Cointerra $1.9 per GH/s better than S2 but not good enough, sp10 $2 per GH/s better than s2 but not good enough for ROI to occur but lower energy consumption.

Conclusion the S1 is the best value per GH/s but very soon the extra energy it uses will kill the ROI.




 

ok, send me 2 s1 coupons, I am not sure if I can use 2 in a single purchase, since now they make you buy 2 s1 at once.
if for some reason I can not use the 2 s1 coupons, I will return the unsed coupon.

Are you sure the coupons are 0.05 btc each and not 0.005 btc?

Hi will you be taking coupons s2 coupons provided by bitmaintech.com?
will you provide coupons for purchases of S1 or S2 ?
I have never used the bitmaintech coupons before, so I am not really sure how they work, is it possible to accumulate coupons and then use several coupons on a single purchase or is it one per purchase?
Do you take bitcoins or visa, paypal, money orders as other forms of payments?
Is this a one time deal or it will be offered on a regular basis?

I am very interested with this deal, I will be waiting for your reply.