Oh dear KnC, you made a little boo boo again!

Missed the fact that your own staff confirmed that, while it was primarily designed to mine Litecoin it also . . .
http://forum.kncminer.com/forum/main-category/main-forum/32234-mining-software-details-on-titan?p=32368#post32368
31st March 2014, 12:09 PM
OOPSIE!

But, just in case you're still not sure about how definite the whole 'altcoin' mining or pool capability being claimed for the Titan was, try . . .

Sounds great! Can I have one of these awesome scrypt miners that can mine both Litecoin and other Scrypt currencies on any pool that I choose too?

No?

Why?

Ohhhhh, yeah, because it doesn't actually do that currently.

Ok KnC, apart from that bullshit claim, which isn't supported by anything other than the wayback-machine's archive of your original Titan sales page showing it to be in your 'Litecoin Mining Hardware' category, which doesn't actually qualify as being a product specification because, well, you had an actual product specification list for this device and it proudly boasted of a 250Mh/s scrypt mining capability, how *are* you going to handle the other inconvenient truth that it couldn't mine Litecoin on 'p2pool'?

I mean, even if we were to entertain your ludicrous attempt to claim the Titan was sold as a Litecoin miner, why could it not mine Litecoin on p2pool?

Was this something you knew from the beginning but chose to omit from the specifications, exposing you to charges of fraudulent misrepresentation?

Was this something you only discovered much later in the development path of the Titan, exposing you to simply needing to honour cancellation and refund requests from people who asked for it?

You see, if you insist on this new excuse of yours, that the Titan was purchased on pre-order by customers who were fully armed with the fact that you were selling them the Titan as a, "straight-forward Litecoin-miner", you'll be needing to actually come up with some evidence that supports such an unusual claim, especially considering the mountain of evidence to the contrary that exists on your very own website that the Titan was to be your first product 'dedicated to scrypt mining', entirely absent the phrase 'straight-forward Litecoin mining'.

Failure to provide sufficient evidence of having properly informed your customers at the time of this 'fact' you are only now claiming, will risk your company being exposed to fraud-related charges.

If, however, you choose to finally accept the fact that your customers were entitled to cancel based on the new information that came to light about the Titan's limitations of use, your company will be exposed to refund costs and you can process them and go about your merry way with all your grand schemes for the future.

It's not that difficult a choice, one takes you further down the legal rabbit-hole and could wind up with your company in big trouble, the other just reduces your profit for the year by a little bit.

What's so hard about making the right decision KnC?

Got a reply from the UK Companies House about the registered office address being vacant and being unable to contact them.

"I can confirm that I have written to the company to request the forms AD01 to update the public record without delay.

As we have no response steps will be taken to commence action to remove this company from the Register."

Oh KnC, it is fun to see you scrabbling around in the murk of the past to try and re-write history.


Do be careful you don't end up incriminating yourself as having intentionally misrepresented a product through omission of your, current, claim towards the original sales specification of the Titan as being solely designed to be a 'Litecoin miner'.

After all, whether it be your own archived announcement history, or the wayback-machine archive evidence, the only claim you could possibly make regarding an attempt to imply you were selling this device solely as a 'Litecoin miner', would be the labelling of the web-page you were selling the Titan from being in the 'Litecoin mining' category.

Entirely absent from the explicit specifications you did list for this unit, was any mention of it being intended solely as a 'Litecoin miner'. In fact the evidence from your own website shows you listing it as not just a 'scrypt mining' product but, in fact, it being 'dedicated to scrypt mining'.

"Dedicated to scrypt mining"

Awwww, KnC, so close, so very close with yesterday's experiment with time-travel.

Shall we say it again a little louder in case you didn't want to hear it properly the first time, "DEDICATED TO SCRYPT MINING".

Your words, not ours.

Not a lot of grey area there. Fairly cut and dry, wouldn't you say?

From where are these donations to come from? You have launched a coin hoping it would increase in value and are offering 40,000 towards the airdrop, which even if you doubled the current market value between now and the 11th, would only be just over 3BTC in value.

Where was the value intended to be created? That this is a Berlusconi-backed project, the expectation would have been for there to be a professional marketing and promotion plan targeting charitable giving amongst those outside the existing cryptocurrency community. That would have brought new funds into your coin's market, instead of relying on an already tapped-out altcoin investor market contribution.

I just don't see what you intend to be the main driver of this coin's market, other than simply as a cryptocurrency 'begging bowl'.

What about the eight wallet addresses listed as being richer than the escrow address? There are a total of 1,383,236 coins in those top eight addresses.

Do you see the significant imbalance between what is being offered for charity and what is waiting to be sold for profit?

Staggeringly ignorant claim. One does not need to believe in an invisible omnipotent super-being to be charitable, kind and compassionate. In fact, if one is only these things *because* of a belief in an invisible omnipotent super-being, then one is not a charitable, kind or compassionate person in the first place.

Well, I cannot say, yet, whether KnC's failure to meet the specification of "all scrypt applications" is sufficient for an across-the-board liability and obligation to honour every and all cancellation and refund request, however, given that my friend's company's legal challenge to KnC is within their asserted 'B2B' trade agreement meaning that, unlike a consumer product you cannot simply cancel on a whim, the fact they have failed to deliver a device which can work for all scrypt applications and were informed of the cancellation and refund request after they themselves had confirmed it could not mine on p2pool or fast-block-time coins, means the cancellation instruction was not made 'on a whim', but because of there being a serious deviation from the original specifications, with a limitation of use that was not disclosed at the time of purchase, it is possible that said product limitation will expose them to being obligated to give full refunds to anybody who asks for one, or it might be limited only to those cancellations and refunds they were advised of prior to despatch and based on the units being of limited use.

That they are grossly late in delivering these Titans is irrelevant because, as everybody observed months ago, all they had to do was ship one Titan out before the end of September, which I believe is what they did.

That the units didn't mine reliably or at the promised speeds was always going to see KnC excusing themselves with "the promised speeds were only estimates".

That there was now little-to-no chance of ever making ROI was, to be fair to KnC on this point, legally nothing to do with them.

A limitation of use, however, is something that must be disclosed at the time of sale/purchase for a product that would otherwise be reasonably assumed not to have such a limitation. No other scrypt ASIC miner on the market is sold with a limitation on where it can function, the Titan is the only one with such a limit and, even up to the end of last week KnC's sales web-page was touting the Titan as being able to be used "for all scrypt applications" when, the fact is, no, it cannot be used for all scrypt applications.

BTW, I realise actually that the removal of the "all scrypt applications" element of KnC's sales page on their website is because they have posted, "All litecoin mining hardware is currently sold-out."

Which means the offending text contained within the Titan sales description is not there anymore.

For those who miss its bold, confident, albeit false, assertion:

So, KnC, any chance of answering this gentleman's valid question?
http://forum.kncminer.com/forum/main-category/hardware/69437-when-will-the-titan-be-able-to-mine-all-scrypt-based-coins

Just out of interest, how many coins in total is your mining operation likely to add by the 11th to the existing 40,000CHILD being held for the 'airdrop'?

My friend's company has a top-class Swedish lawyer on the case, asking KnC's lawyer, who tried to claim there was nothing wrong with the Titan, to answer the question, "are you saying this device can be used for ALL scrypt applications?".

As I have been saying, it's going to be *real* interesting to see how KnC answer that particular question when they've already posted on their own forums and in email replies that it can't function properly for fast-block-time networks or p2pool.

Now they have pulled that "all scrypt applications" claim from their website, I'd say it might have got their attention.

Did you cancel your order prior to KnC shipping it?

They also have the right to suddenly pull that Titan sales page and replace the confident "all scrypt applications" assertion with some mumbling about 'tweakers' appreciating the modular design. No more mention of performance!

https://www.kncminer.com/categories/litecoin-mining-hardware

Oh KnC, how *are* you going to answer that oh-so-difficult question regarding "all scrypt applications", when everybody concerned has already clocked the fact you boldly asserted a performance specification in the sales description that turned out to be utterly false?

In fact, how *are* you going to deal with the thorny issue that a scrypt miner which is limited to where it can actually mine, is a rather unusual beast and, as such, said limitation would have had to have been disclosed as part of the original sales description in order to avoid being accused of essential breach of contract, amongst other potential charges.

Tricky, tricky, tricky. What *is* one to do?

No, they do not, hence the police fraud reports being made these days.

They were explicitly warned that if they did not respond to the refund request and they continued remaining silent, it would have to be assumed they were seeking to defraud and reports would be filed with both the police and companies house (about the registered office being vacant and process servers being unable to serve legal documents).

Since then they have continued to remain silent, bar the ridiculous "Greetings miners!. . ." bullshit posts on their forum.

LOL.

Oh noes, it looks like somebody else is asking that awkward question directly to KnC. What *will* their answer be?

http://forum.kncminer.com/forum/main-category/hardware/69437-when-will-the-titan-be-able-to-mine-all-scrypt-based-coins

*AWKWARD!*

Just a little update regarding my friend's company and their ongoing legal process to make KnC honour the cancellation and refund instruction they received when it was confirmed to him that there were a number of limitations on where these units could hash. He had emailed KnC to ask whether, along with the growing list of places it couldn't function properly, was it also incapable of mining on p2pool, with a reply from them confirming that it was currently unable to work with p2pool and was given a handy link to the announcement of pools where it could function.

This reads like a description of a device that is limited to where it can mine.

This reads like a description of a device that, contrary to KnC's claims, cannot actually be used "for all scrypt applications".

Strange how the sales description never mentioned that it was going to be limited to where it could mine and, in fact, says the exact opposite of such a thing, claiming it can be used "for all scrypt applications".

How does that work again?

It supposedly can be used for all scrypt applications, yet it can't actually be used for all scrypt applications and KnC have themselves confirmed that it can't be used for all scrypt applications prior to my friend's company cancelling their order.

KnC are instructed to cancel the order on the basis that the device cannot be used for all scrypt applications, something they have explicitly confirmed in their email stating that it couldn't be used for p2pool and directing the company to the announcement of confirmed pools where it did work properly, yet they are currently claiming that there is no fault in the product and they deny any responsibility for it not working for all scrypt applications?

The cognitive dissonance is strong at KnC.

So they repeatedly ignored the explicit cancellation, which was based on proven facts regarding an essential breach of contract, resulting in them eventually just shipping out these units against the company's instruction not to, while threatening the company that if they did not accept delivery, they would be liable for the additional shipping charges.

Their business practices are shameful, bullying people into taking delivery of a device that they have already admitted cannot actually mine on all scrypt networks.

I wait with baited breath to see how they intend to respond to the direct question from the Swedish laywer, "are you claiming this device will work for all scrypt applications".

Because, let's be honest, they are still claiming it on their sales page now.

Anyone fancy take a punt at what their reply might be?

I raised the issue of them needing to clarify what they actually meant by their claim in the latest announcement that they were processing refunds.

They deleted my question.

The word 'Bitcoin' is probably a variable that changes depending on the search terms used etc.

I bet there are ones that are exactly the same but instead of "Do not buy Bitcoin" it'll say, "Do not buy Stocks".

As has already been pointed out, it's clickbait set to target people who are interested in investments of various kinds.

Which wallet are you running? The new beta?

No it's T3CLtd's ATM product brand.

I believe an update to that placeholder page is coming soon which will give you a better idea of what is being rolled out in the New Year.

FYI, watch this space: http://globalbitpoint.com

Are you listening KnC? You do remember the sales description includes the phrase "all scrypt applications"? Entirely absent, however, was the phrase, "Except fast block time coins and . . . "

Try paying attention to this phrase, KnC, "Essential breach of contract".

You are saying that you have received both the USD10,000 batch1 Titan AND a USD7,000 batch2 Titan?

Do you have some proof you can post because KnC assured everyone they would not ship batch2 units until at least one month after they finished shipping batch1 devices. If they have reneged on that assurance then its more evidence against them for those pursuing legal action to recover their funds.