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Author Topic: Swedish ASIC miner company kncminer.com  (Read 3008909 times)
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February 05, 2014, 01:40:00 PM
 #29481

Back at the end of november i remember :-) that i wasnt able to pay the neptune due to spending exessive amounts of money in bitmine's coincrafts. Regardless of yet not having coincrafts mining, i am happy that my money is not stuck in sweden for some planet in a datacenter. the datacenter they build with money for neptune's.

knc have lost all credibility in my opinion.
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February 05, 2014, 02:10:46 PM
 #29482

I've had one refunded, one on order.  That's the easy "get out" anyone can take.
I still don't have an issue with how things are progressing, and my lack of posting doesn't reflect my experience or understanding of things.
They are simply making the best commercial decisions.  If you want charity, donate at the link in my sig.
If you want a capitalist free market economy and private enterprise making the best commercial decisions for success.....

So refunds don't get any kind of fincen hassle?  I don't quite understand what the $10k fincen limit encompasses.  Isn't it more than just bank accounts but foreign assets as well?  Would a 13k miner account be an asset on foreign soil? (for the US users here).



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ElGabo
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February 05, 2014, 03:06:11 PM
 #29483

I was a happy customer.

I'm out....

 Kiss Cry

" I'm waiting for my punishment, I know it's on my way
  So cut, cut, cut me up and fuck, fuck, fuck me up"
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February 05, 2014, 03:14:11 PM
 #29484

I'm concerned that the company has all this hashing power in their data center to give out.  They just promised to offer hashing power of their 28nm equipment to all preorder customers.  Call it 3600 units at 3th/s each, or 10,800 th/s or mining power.

Originally, KnC's company mission was to only mine with 5% of what they produced for their customers.  That would mean that the company, after selling about 7,000th/s of mining power in 28nm chips, should have only about 5% or 350th/s on site in their data center....

Even if you assume the company delivered the entire network in hashing power, 18,000 th/s at 5% is only 900th/s on site at their data center.  How does a company that promised to only have 5% of their customer's orders hashing for themselves, have the equivalent of 10,800th/s mining in their data center to give out to customers....

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February 05, 2014, 03:14:55 PM
 #29485

I've seen enough... Good luck to you all.

I'm done with this KnC charade and refunding my order.
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February 05, 2014, 03:16:27 PM
 #29486

I was a happy customer.

I'm out....

 Kiss Cry

My sentiments exactly. It's a shame they compromised their values and principles by changing the structure of their business to serve a different master.
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February 05, 2014, 03:23:03 PM
 #29487

I'm concerned that the company has all this hashing power in their data center to give out.  They just promised to offer hashing power of their 28nm equipment to all preorder customers.  Call it 3600 units at 3th/s each, or 10,800 th/s or mining power.

Originally, KnC's company mission was to only mine with 5% of what they produced for their customers.  That would mean that the company, after selling about 7,000th/s of mining power in 28nm chips, should have only about 5% or 350th/s on site in their data center....

Even if you assume the company delivered the entire network in hashing power, 18,000 th/s at 5% is only 900th/s on site at their data center.  How does a company that promised to only have 5% of their customer's orders hashing for themselves, have the equivalent of 10,800th/s mining in their data center to give out to customers....

Despite the fact the 5% promise is still in the FAQs on the website, i suspect KnC no longer feel bound to it.

Anyway, if they want to be tricky and still stick with the 5% promise, they can just sell 10PH to Byteminer - a CUSTOMER of KnC - with favourable terms for leasing back hash-rate for their 'Plan-B'

It would go something like this:

KnC: "OHAI Byteminer - i hear you want to buy loads of cheap 28nm miners!?"

Byteminer: "oh yes please, person whom I have never met before and who definitely isn't a shareholder in Byteminer" *wink*

KnC: "Well you know i have this pesky 5% limit on my own hash, but look at all these 28nm miners i have lying around. So how about we sell you a metric fuckload of 28nm miners for a bargain basement price, and you guarantee we can borrow some hash in July for our Neptune suckers *cough cough* i mean valued customers"

*both giggle*

Byteminer: "Well jees, that sounds swell - by the way, what kind of champagne do you think we should serve at the byteminer shareholders meeting? You bring the cheese ok? And don't forget to invite Mum and Dad"

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February 05, 2014, 03:25:49 PM
 #29488

I was a happy customer.

I'm out....

 Kiss Cry

My sentiments exactly. It's a shame they compromised their values and principles by changing the structure of their business to serve a different master.

Exactly

" I'm waiting for my punishment, I know it's on my way
  So cut, cut, cut me up and fuck, fuck, fuck me up"
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February 05, 2014, 03:35:57 PM
 #29489

I'm concerned that the company has all this hashing power in their data center to give out.  They just promised to offer hashing power of their 28nm equipment to all preorder customers.  Call it 3600 units at 3th/s each, or 10,800 th/s or mining power.

Originally, KnC's company mission was to only mine with 5% of what they produced for their customers.  That would mean that the company, after selling about 7,000th/s of mining power in 28nm chips, should have only about 5% or 350th/s on site in their data center....

Even if you assume the company delivered the entire network in hashing power, 18,000 th/s at 5% is only 900th/s on site at their data center.  How does a company that promised to only have 5% of their customer's orders hashing for themselves, have the equivalent of 10,800th/s mining in their data center to give out to customers....

Despite the fact the 5% promise is still in the FAQs on the website, i suspect KnC no longer feel bound to it.

Anyway, if they want to be tricky and still stick with the 5% promise, they can just sell 10PH to Byteminer - a CUSTOMER of KnC - with favourable terms for leasing back hash-rate for their 'Plan-B'

It would go something like this:

KnC: "OHAI Byteminer - i hear you want to buy loads of cheap 28nm miners!?"

Byteminer: "oh yes please, person whom I have never met before and who definitely isn't a shareholder in Byteminer" *wink*

KnC: "Well you know i have this pesky 5% limit on my own hash, but look at all these 28nm miners i have lying around. So how about we sell you a metric fuckload of 28nm miners for a bargain basement price, and you guarantee we can borrow some hash in July for our Neptune suckers *cough cough* i mean valued customers"

*both giggle*

Byteminer: "Well jees, that sounds swell - by the way, what kind of champagne do you think we should serve at the byteminer shareholders meeting? You bring the cheese ok? And don't forget to invite Mum and Dad"


Fuck LOL  Grin

A true story Smiley)))))

" I'm waiting for my punishment, I know it's on my way
  So cut, cut, cut me up and fuck, fuck, fuck me up"
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February 05, 2014, 03:36:46 PM
 #29490

Yes I am completing a refund for 2 now.

Good luck all  Cry Undecided
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February 05, 2014, 03:50:11 PM
 #29491

where does it say batch 2 neptunes are nonrefundable?

read the terms. They stopped refund availability after batch 1.
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February 05, 2014, 03:57:24 PM
 #29492

where does it say batch 2 neptunes are nonrefundable?

read the terms. They stopped refund availability after batch 1.

..and now we know why.

Hope things work out better than they look for their faithful customers and funders from the start.
What a massive stab in the back. Reputation destroyed. Sad.
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February 05, 2014, 04:12:49 PM
 #29493

I'm concerned that the company has all this hashing power in their data center to give out.  They just promised to offer hashing power of their 28nm equipment to all preorder customers.  Call it 3600 units at 3th/s each, or 10,800 th/s or mining power.

Originally, KnC's company mission was to only mine with 5% of what they produced for their customers.  That would mean that the company, after selling about 7,000th/s of mining power in 28nm chips, should have only about 5% or 350th/s on site in their data center....

Even if you assume the company delivered the entire network in hashing power, 18,000 th/s at 5% is only 900th/s on site at their data center.  How does a company that promised to only have 5% of their customer's orders hashing for themselves, have the equivalent of 10,800th/s mining in their data center to give out to customers....

Speculation: For conscience sake perhaps the company itself only lists on paperwork that it "owns/mines" with 5%, but provided a bunch more to its "founding employees" as part of their employment, which lets them "mine with it". This would let them say that they only mine 5%, while still letting them use a butt-tonne more hash.

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February 05, 2014, 04:18:03 PM
 #29494

where does it say batch 2 neptunes are nonrefundable?
Spot the difference (clue: bullet points):

https://web.archive.org/web/20131212133634/https://www.kncminer.com/categories/miners
https://www.kncminer.com/categories/miners

But hey, if knc are such a reputable company with customers interests at the heart of their business - ask for a refund and see what happens, even if you are batch 2.

This statement was in their newsletter yesterday "blah blah .... completely unacceptable to us as a company and everything we stand for".

Ask them for a refund... and see what they actually stand for.

"I am not The Avenger"
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February 05, 2014, 04:42:04 PM
 #29495

It seems like the days of the solo miner are quickly disappearing.  The big money has moved in, and the hardware companies are either failing or changing their business plan to the detriment of the individual miner
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February 05, 2014, 04:55:24 PM
 #29496

After these two boards I will have sent 4 boards back for RMA in the space of a month. these are October's though.

GREAT SERVICE

YMMV..  I RMA'ed a board and got one back that had an on and off again die..  and now stays off..  and between the two extra modules I bought, one had a dead die that hardly ever comes back on..

perhaps if a few more dies die it will make the shipping worth it since it was a waste on the RMA one




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February 05, 2014, 06:25:05 PM
 #29497

So I asked them.  I emailed them some questions and this is the response. I received the response from Keith Gurnett

Now before anyone goes off on one, I know some of the answers seem vague, so I have asked for clarity specifically on the 3rd question.

Hope this helps.

Quote
Q1. Do you still feel confident to launch Neptune on time?
A1. At the moment things are going ahead as planned, we will provide more information as work progresses.

Q2. If so do you think it will be closer to the end of Q1, Q2 or later?
A2. Similar to above, we are currently on target and will provide more details as soon as we can.

Q3. Have you been manufacturing 28nm Miners all the time since you stopped the last batch of November Jupiters?
A3. No, we are creating the data center now for "Plan B" as a back up to be used if there are any delays with the Neptune production.

Q4. If so, have you been mining with the 28nm miners manufactured since November?
A4. We are mining, but we have not exceeded the 5% of the hash rate which has been released.

Q5. Do you plan on manufacturing any upgrade boards for the Mercury and Saturn customers?
A5.  We are looking at the possibility of releasing upgrade modules, however our management team have not yet decided on the final details. We will provide further information as soon as possible.


Q6. What date will you start offering compensatory hosted hash-rate, and how much will be given?
A6. Plan B will only come in to action if there are any delays with the Neptune production, as stated previously we will provide further updates as soon as we can.

Q7. What date will you start offering to convert non-delivered Neptunes into hosted 28nm, and how much will be exchanged?
A7. Like above, if there are any delays customers will be provided with the hosted hash rate.

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February 05, 2014, 06:33:24 PM
 #29498

just fyi, my neptune refund came in today.
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February 05, 2014, 06:40:25 PM
 #29499

just fyi, my neptune refund came in today.

They'd be a lot quicker if only there was some means of transferring funds instantly for low cost, I dunno something like a crypto currency, someone should look at starting one could be revolutionary Smiley

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February 05, 2014, 06:41:41 PM
 #29500

just fyi, my neptune refund came in today.

They'd be a lot quicker if only there was some means of transferring funds instantly for low cost, I dunno something like a crypto currency, someone should look at starting one could be revolutionary Smiley

dude, you just invented the term 'cryptocurrency'  Shocked

tips    1APp826DqjJBdsAeqpEstx6Q8hD4urac8a
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