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Author Topic: Swedish ASIC miner company kncminer.com  (Read 3011295 times)
r1senfa17h
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January 21, 2014, 07:47:22 PM
 #28481

Finally got my refund for 1 of the three Neptunes I purchased. As promised, here's the timeline and what happened.

  • 12/29 - 11:06PM ET: Sent email to sales@kncminer.com asking for refund
  • 12/29 - 11:06PM ET: Automated response confirming my request was received
  • 12/30 - 8:37AM ET: Kurt from KnC tells me that my order has been canceled as requested and he asks for my wire transfer info
  • 12/30 - 8:49AM ET: I respond to Kurt's request with my info and inquire about whether I can be refunded in the equivalent amount of bitcoin instead
  • 12/30 - 9:21AM ET: Kurt responds to confirm that the refund has been initiated to my bank account and that they do not offer refunds in bitcoin
  • 1/08 - 2:30PM ET: Sent email to sales@kncminer.com asking about status of refund
  • 1/08 - 2:36PM ET: Automated response confirming my email was received
  • 1/09 - 9:10AM ET: Natalie responds, "I will contact our finance team and get back to you shortly"
  • 1/13 - 8:59AM ET: Natalie emails and says, "Could you please send us your bank details for international transfer so we can process the refund?"
  • 1/13 - 4:22PM ET: I respond to Natalie with the same wire transfer info I sent the first time
  • 1/13 - 5:30PM ET: Liam responds with, "These details have been added to your order. All refunds are processed once weekly on a Thursday."
  • 1/21 - 8:00AM ET: Bank shows wire transfer for refund is processing

Refund took 23 days total. I think this was a worst case scenario considering the holidays, but I was a little frustrated that I had to give them my wire transfer info twice. I still have two customer appreciation batch Neptunes on order, but have decided to spend the rest of my btc on other mining devices that are immediately available.

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January 21, 2014, 07:48:48 PM
 #28482

I like Coinbase as well, but they recently reduced their instant buy limit from 10 BTC per day to 1 BTC per day.

That is frustrating, but all of the exchanges seem to have some form of delay on this matter, whether it's getting your fiat or getting your crypto.

A lot of folks have purchased BTC from Coinbase, waited 5 days for them to be available, and then had the transaction cancelled right before the BTC was supposed to be available after the price went up. Coinbase can cancel transactions and call them "high risk" whenever it benefits them to do so.

I can't speak to others' experience, but when I bought some BTC during this type of time period, I had no issue.

This right here happens all the time, and is shady, however, I have had them straight try to steal from me--and I've seen them do it to others--and that is when I had to get my own bank involved and cease any future relationship with Coinbase, especially after working with their support for over 3 weeks and the only response I got was "this should be fixed now." --  and of course, it wasn't.

I've heard of this from all the exchanges, and everytime I've asked for proof (simply for my own welfare of trust), I've never seen it. Do you have any?

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January 21, 2014, 07:53:32 PM
 #28483

I like Coinbase as well, but they recently reduced their instant buy limit from 10 BTC per day to 1 BTC per day.

That is frustrating, but all of the exchanges seem to have some form of delay on this matter, whether it's getting your fiat or getting your crypto.

A lot of folks have purchased BTC from Coinbase, waited 5 days for them to be available, and then had the transaction cancelled right before the BTC was supposed to be available after the price went up. Coinbase can cancel transactions and call them "high risk" whenever it benefits them to do so.

I can't speak to others' experience, but when I bought some BTC during this type of time period, I had no issue.

This right here happens all the time, and is shady, however, I have had them straight try to steal from me--and I've seen them do it to others--and that is when I had to get my own bank involved and cease any future relationship with Coinbase, especially after working with their support for over 3 weeks and the only response I got was "this should be fixed now." --  and of course, it wasn't.

I've heard of this from all the exchanges, and everytime I've asked for proof (simply for my own welfare of trust), I've never seen it. Do you have any?

I do, but it would require me posting my banking statements. Not all that keen on that, and I'm not all that keen on going through and marking it up so I can post it. They essesntially charged me for a purchase of BTC I never made (I sold BTC to them, not purchased). Instead of giving me money, they took it out. I'm pretty sure my bank ruled in my favor for a reason.
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January 21, 2014, 08:04:49 PM
 #28484


I do, but it would require me posting my banking statements. Not all that keen on that, and I'm not all that keen on going through and marking it up so I can post it. They essesntially charged me for a purchase of BTC I never made (I sold BTC to them, not purchased). Instead of giving me money, they took it out. I'm pretty sure my bank ruled in my favor for a reason.

Makes me wonder if it was a server-side burp. Did they have anything to say about it?

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January 21, 2014, 08:08:44 PM
 #28485

To the folks who have used my referral link for Neptunes: THANK YOU

2 folks have used it. I don't know who, but wanted to provide an update. I will hold to my commitment, any "free" machines I get from KNC, I will dedicate a third of the profits to charities.

I will setup a thread on the matter soon. Those who have used my link can provide me with charity suggestions, and I will give those priorities.

8 more to go for a Neptune

Keep in mind, I can host many Neptunes (power-wise), so don't worry about that. And this is a form of giving to those who don't even know you, which is truly an ultimate form of helping fellow man. There are also charities for the environment, if that's your thing.

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January 21, 2014, 08:09:33 PM
 #28486


I do, but it would require me posting my banking statements. Not all that keen on that, and I'm not all that keen on going through and marking it up so I can post it. They essesntially charged me for a purchase of BTC I never made (I sold BTC to them, not purchased). Instead of giving me money, they took it out. I'm pretty sure my bank ruled in my favor for a reason.

Makes me wonder if it was a server-side burp. Did they have anything to say about it?

Yep... "we fixed it."

It was not fixed. I had waited 3 weeks to get that reply, and at that point, just went to my bank. I think it was back when they were having tons of issues when BTC started to run in October, so maybe that's why they were slow...but never again for me, CB
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January 21, 2014, 08:20:28 PM
 #28487


I like Coinbase as well, but they recently reduced their instant buy limit from 10 BTC per day to 1 BTC per day.

it's 1 per week... rather abysmal


A lot of folks have purchased BTC from Coinbase, waited 5 days for them to be available, and then had the transaction cancelled right before the BTC was supposed to be available after the price went up. Coinbase can cancel transactions and call them "high risk" whenever it benefits them to do so.

if you can get 'whitelisted' this doesn't happen.. whitelisted is more than just level 2.
back when they had active customer service support I was able to get whitelisted and never had an issue again  (except one database issue on their side which affected a lot of people one day)


They also provide no insurance on deposits. I use Coinbase, but don't particularly trust them and don't keep any BTC or USD in Coinbase for longer than it takes to complete a transaction.


they can't keep any customer money on their side. just btc.  they don't have exchange clearance or whatever



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lemonte
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January 21, 2014, 08:22:02 PM
 #28488

To the folks who have used my referral link for Neptunes: THANK YOU

2 folks have used it. I don't know who, but wanted to provide an update. I will hold to my commitment, any "free" machines I get from KNC, I will dedicate a third of the profits to charities.

I will setup a thread on the matter soon. Those who have used my link can provide me with charity suggestions, and I will give those priorities.

8 more to go for a Neptune

Keep in mind, I can host many Neptunes (power-wise), so don't worry about that. And this is a form of giving to those who don't even know you, which is truly an ultimate form of helping fellow man. There are also charities for the environment, if that's your thing.

Nice work Vesper Willow! Very good to hear you're doing it for charity as well.

kendog77
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January 21, 2014, 08:41:04 PM
 #28489


I like Coinbase as well, but they recently reduced their instant buy limit from 10 BTC per day to 1 BTC per day.

it's 1 per week... rather abysmal


A lot of folks have purchased BTC from Coinbase, waited 5 days for them to be available, and then had the transaction cancelled right before the BTC was supposed to be available after the price went up. Coinbase can cancel transactions and call them "high risk" whenever it benefits them to do so.

if you can get 'whitelisted' this doesn't happen.. whitelisted is more than just level 2.
back when they had active customer service support I was able to get whitelisted and never had an issue again  (except one database issue on their side which affected a lot of people one day)


They also provide no insurance on deposits. I use Coinbase, but don't particularly trust them and don't keep any BTC or USD in Coinbase for longer than it takes to complete a transaction.


they can't keep any customer money on their side. just btc.  they don't have exchange clearance or whatever




I know they only keep BTC, but they don't offer insurance on BTC deposits. That means if they get hacked, make an honest mistake, or get cleaned out via an insider job the folks who lose BTC are simply out of luck.

Hopefully Coinbase will insure BTC deposits in the future. They use 2 factor authentication, which is good, but there are still many ways that a customer could get cleaned out by storing BTC with them.
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January 21, 2014, 09:52:14 PM
 #28490


I doubt home mining is going to be around by the end of the year, though Cointerra and KNC have both been up front about this. Everything in Bitcoin is evolving quickly at the moment, adoption is up, massive advances in mining, I just wish the price would follow suit. Here's hoping that once the China situation which seems to be hanging over everyone like a dark cloud is out of the way, we see the price improving.

I also think it's quickly going to turn into a 2 horse race.

May I ask what you feel the China situation is and what would put it 'out of the way'?  I don't disagree I just don't understand.

If it's anything like printed circuit board manufacturing in the US it doesn't end well.



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lemonte
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January 21, 2014, 10:00:44 PM
 #28491


I doubt home mining is going to be around by the end of the year, though Cointerra and KNC have both been up front about this. Everything in Bitcoin is evolving quickly at the moment, adoption is up, massive advances in mining, I just wish the price would follow suit. Here's hoping that once the China situation which seems to be hanging over everyone like a dark cloud is out of the way, we see the price improving.

I also think it's quickly going to turn into a 2 horse race.

May I ask what you feel the China situation is and what would put it 'out of the way'?  I don't disagree I just don't understand.

If it's anything like printed circuit board manufacturing in the US it doesn't end well.

Clarity, even if it's bad news, reading posts/articles from a Chinese persons perspective and speaking to a few, they too are in the dark with what the guidelines actually mean. I'd like to see volumes kick in and things heading back in the right direction after the 31st, even if that does mean a crash first. Then again, there is the argument that the news is already priced in.

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January 21, 2014, 10:20:54 PM
 #28492

*disclosure: My opinion is more favorable because I've got a batch 1 Neptune order.*

Wow, I've never taken all day to read one thread. Holy shit, people, stay on topic!

Lots of good chatter, I'm glad to see you're all keeping it together for the most part.


Observations

1. KNC is trying very hard to juggle all these balls. I think they're doing very well.  It is clear to me that KNC is doing their best to give their customers every advantage they can.

2. Power supply conversation: KNC : PLEASE DONT' FEEL OBLIGATED TO INCLUDE A PSU. This is crazy simple, people. Buy your own PSU's (back ups are a good idea...).

3. Self appointed know-it-alls are dragging this thread down. News flash: None of you know anything for certain, so please stop speculating about speculations. What I (and I think we) need is real time information, not speculation. If you have real information to contribute, please keep it coming!

edit: 3.1 : Coinbase is solid, I've had positive experience there.

4. I am a poker player and like a good gamble. I have learned to make my bet when the betting is good, which I've done. Then let it shake out... HODL as you'd say. I will HODL. I suggest you do the same, or don't. But I don't care Smiley If you decide not to, please delay your refund or sale of your hardware as long as possible.


I appreciate all the conversations, here. Thanks!
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January 21, 2014, 10:43:36 PM
 #28493

Having seen how sexy the HF and CT cases are, a really interesting on-topic discussion would be the neptune case design? No one has mentioned that yet.

I'm sure knc would appreciate some input at this early stage, way before they start, so they don't go and make the Jupiter mistake again (i.e. front heatsinks blasting hot air into back heatsinks, attaching last minute baffles to lid - a lid which many people leave off)  Cool

Assuming they go for a 4 board design again, what would be your ideal neptune case look like? Air/water/oil? You're paying - might as well tell them what you want  Smiley

"I am not The Avenger"
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January 21, 2014, 10:47:05 PM
 #28494

Having seen how sexy the HF and CT cases are, a really interesting on-topic discussion would be the neptune case design? No one has even mentioned that yet.

I'm sure knc would appreciate some input at this early stage, way before they start, so they don't go and make the Jupiter mistake again (i.e. front heatsinks blasting hot air into back heatsinks, attaching last minute baffles to lid - a lid which many people leave off)  Cool

Assuming they go for a 4 board design again, what would be your ideal neptune case look like? Air/water/oil?

There were some mock ups on the Kncminer forums a while ago, can't find them now.

I'd like water or oil, easier to build a little cooling system for multiple units rather than buying loads of noisy fans.

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January 21, 2014, 10:59:49 PM
 #28495

Having seen how sexy the HF and CT cases are, a really interesting on-topic discussion would be the neptune case design? No one has mentioned that yet.

I'm sure knc would appreciate some input at this early stage, way before they start, so they don't go and make the Jupiter mistake again (i.e. front heatsinks blasting hot air into back heatsinks, attaching last minute baffles to lid - a lid which many people leave off)  Cool

Assuming they go for a 4 board design again, what would be your ideal neptune case look like? Air/water/oil? You're paying - might as well tell them what you want  Smiley

I choose function over form. It would be the ugliest thing ever as long as it mines like a champ.
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January 21, 2014, 11:12:33 PM
 #28496

Having seen how sexy the HF and CT cases are, a really interesting on-topic discussion would be the neptune case design? No one has mentioned that yet.

I'm sure knc would appreciate some input at this early stage, way before they start, so they don't go and make the Jupiter mistake again (i.e. front heatsinks blasting hot air into back heatsinks, attaching last minute baffles to lid - a lid which many people leave off)  Cool

Assuming they go for a 4 board design again, what would be your ideal neptune case look like? Air/water/oil? You're paying - might as well tell them what you want  Smiley

I choose function over form. It would be the ugliest thing ever as long as it mines like a champ.
People said that about Jupiter - and knc took them at their word Grin

I imagine this time around, people will want something slightly better than 2x 140mm fans to keep $13k machine cool?

"I am not The Avenger"
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January 21, 2014, 11:13:57 PM
 #28497


If the day ever come that amazon accepts btc...watch out Smiley

not so sure that would be good short term..  if you followed the overstock situation, coinbase turned it into a reverse layaway plan.  They dropped their instant buy from 10btc/week to 1btc/week so if you are trying to shop for anything over ~$80 you will have to wait 5-7 days to buy enough coins from coinbase...  but if you already have 400 coins and want to cash out into items, then that is a lot more selling pressure than buying.


Exactly why coinbase is for total noobs, and children.   Why would one go to coinbase and establish such a bottlekneck?
It's worthless if you are moving large amounts. Nothing beats a real exchange.
The tiered confirmation system there sucks too. I've been confirmed at all the exchanges...no problem; but when I go to get confirmed at coinbase, I always get rejected, because they always try to ask questions from my childhood, and I don't see how their questions could ever be answered; I'ts like they're asking housing questions from when I was 2yrs old, how the fuzz am I supposed to know that? I gave up after a half-dozen attempts over a two week period...   but no worries with those ridiculous limits, I'm totally stoked with Bitstamp and Camp BX

Coinbase is for noobs but you tried to sign up half dozen times over a two week period? I'm verified at Bitstamp and Camp and they're all the same.


Need help with your Newznab usenet indexer? http://www.newznabforums.com
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January 21, 2014, 11:14:28 PM
 #28498


I doubt home mining is going to be around by the end of the year, though Cointerra and KNC have both been up front about this. Everything in Bitcoin is evolving quickly at the moment, adoption is up, massive advances in mining, I just wish the price would follow suit. Here's hoping that once the China situation which seems to be hanging over everyone like a dark cloud is out of the way, we see the price improving.

I also think it's quickly going to turn into a 2 horse race.

May I ask what you feel the China situation is and what would put it 'out of the way'?  I don't disagree I just don't understand.

If it's anything like printed circuit board manufacturing in the US it doesn't end well.

Clarity, even if it's bad news, reading posts/articles from a Chinese persons perspective and speaking to a few, they too are in the dark with what the guidelines actually mean. I'd like to see volumes kick in and things heading back in the right direction after the 31st, even if that does mean a crash first. Then again, there is the argument that the news is already priced in.

I nod and smile affirmatively.



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January 21, 2014, 11:19:04 PM
 #28499

Having seen how sexy the HF and CT cases are, a really interesting on-topic discussion would be the neptune case design? No one has even mentioned that yet.

I'm sure knc would appreciate some input at this early stage, way before they start, so they don't go and make the Jupiter mistake again (i.e. front heatsinks blasting hot air into back heatsinks, attaching last minute baffles to lid - a lid which many people leave off)  Cool

Assuming they go for a 4 board design again, what would be your ideal neptune case look like? Air/water/oil?

There were some mock ups on the Kncminer forums a while ago, can't find them now.

I'd like water or oil, easier to build a little cooling system for multiple units rather than buying loads of noisy fans.

Aye, something that would lend itself to running plumbing thru the wall to the outside where forced air cooling of the ASICs' circulating fluid would be sufficient even when it's 102°F out while the rest of the electronics are at a reasonable room temperature.  Or if the ASICs need to be even cooler, an outside forced air pre-cooler then a second cooling indoors.



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January 21, 2014, 11:34:46 PM
 #28500



Aye, something that would lend itself to running plumbing thru the wall to the outside where forced air cooling of the ASICs' circulating fluid would be sufficient even when it's 102°F out while the rest of the electronics are at a reasonable room temperature.  Or if the ASICs need to be even cooler, an outside forced air pre-cooler then a second cooling indoors.

if 2 or 3 of these came in a rig that I can heat my pool while cooling off the miners then I might get interested  Cool

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