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Author Topic: Swedish ASIC miner company kncminer.com  (Read 3008292 times)
Cablez
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I owe my soul to the Bitcoin code...


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May 11, 2014, 09:57:10 PM
 #33581

So what happened to that old argument... "ROI is only when you earn your original BTC investment back"? I paid just over 10 BTC not $10,000.

I have 18 working boards from the first batch that hash at ~2.5THs. I also bought 2 extra controllers (PSUs and heatsinks for another ~$2000 invested) so I can run another 12 boards from the second shipment. I'm just waiting for some IDC ribbon cables to be delivered. Hopefully I can cherry-pick enough boards to get another ~2THs.

I haven't done the math but I should be able to get close to a positive ROI at some point in the future. The biggest downside to ROI is the resale value of these fragile hunks of crap. Unless it's a local delivery, I don't see much chance of ever being able to resell them.

What happened to the equally old argument of taking the BTC refund and getting 2X your initial investment right now?  Wink   

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xstr8guy
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Glow Stick Dance!


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May 11, 2014, 11:36:17 PM
 #33582

So what happened to that old argument... "ROI is only when you earn your original BTC investment back"? I paid just over 10 BTC not $10,000.

I have 18 working boards from the first batch that hash at ~2.5THs. I also bought 2 extra controllers (PSUs and heatsinks for another ~$2000 invested) so I can run another 12 boards from the second shipment. I'm just waiting for some IDC ribbon cables to be delivered. Hopefully I can cherry-pick enough boards to get another ~2THs.

I haven't done the math but I should be able to get close to a positive ROI at some point in the future. The biggest downside to ROI is the resale value of these fragile hunks of crap. Unless it's a local delivery, I don't see much chance of ever being able to resell them.

What happened to the equally old argument of taking the BTC refund and getting 2X your initial investment right now?  Wink   

Lol, point taken! But a refund was not an option for me at the time as they were offering bank transfer only for small orders which I did not want. I would have taken a BTC refund though if it had been offered.
opentoe
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Personal text my ass....


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May 11, 2014, 11:50:27 PM
 #33583

31 days after my Refund request Anna keep rolling the same " it will be transferred in few weeks" .

One month lies and BS.

Is it sure that the bank accounts of KNC are still not blocked by Swedish government?

Something start smell here. 1 Month for refund is really a lot, even for cheap bastards like KNC.

Just to remind you guys:

Don't send any Money to KNC. Don't buy any nonrefundable hardware from them.

KNC is SCAM NOW and they going to score Fraud of 2014. Hold on for Q5

Request for a BTC refund instead as they are offering that as an option now.

BTC refund will not work for our Tax office in UK.
All we want is this transfer started finally how they promised when we pay for the product:

"All Refunds will be refunded in dollars and you can refund till shipment"

Are we doing something wrong KNC?

Then you get it to work. That's a lame excuse. BTC refund won't work because of taxes issuses. Get your BTC back, get it back in cash. Then make appointment with your IRS and ask them how to proceed. You'll have them going in circles for months they'll never get back to you and you'll be covered from the paper work you have trying to make it right.

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bittawm
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May 11, 2014, 11:58:57 PM
 #33584

are we going to sue these guys or what?

I'm currently discussing this issue with a lawfirm in Sweden. Once I receive their legal opinion, I'll post it here.

keep me informed mate, cannot believe theyre the new bfl

BTC:1B3GN2WRQ6LBk9PcuZxoXevhty8sTgVrxn  <-------ONLY DEPOSIT TO THIS ADDRESS
LIMITED INTERNET ACCESS UNTIL 21st NOVEMBER
opentoe
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Personal text my ass....


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May 12, 2014, 12:13:03 AM
 #33585

Me unpacking my $10,000 investment:

http://youtu.be/UsPYcQlMlGk

You guys are seriously getting FUCKED up the ass here and really should get some legal help with this. They seriously can't blame every issue to the shipping company. How could that be even possible? %100 out of %100 deliveries damaged? Don't shit on this shit, I'd get legal help somehow and fast. You all spent at least $9k on these things, so you have to have some money. Put the legal pressure on. Don't let them keep giving you the run around with sending you already broken parts. Wait until people start receiving parts that are already broken. Then you have to go through the RMA shit ALL over again. And maybe by that time, you've lost thousands of dollars but were offered a cloud hashing subscription? You'll never make the money you intended to make if things were correct here. Anyone right now that is affiliated with KNC is screwed.

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DPoS
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May 12, 2014, 12:34:10 AM
 #33586

I don't see much chance of ever being able to resell them.

ask KNC, they seem to be experts

~~BTC~~GAMBIT~~BTC~~Play Boardgames for Bitcoins!!~~BTC~~GAMBIT~~BTC~~ Something I say help? Donate BTC! 1KN1K1xStzsgfYxdArSX4PEjFfcLEuYhid
SgtMoth
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buy silver!


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May 12, 2014, 12:52:02 AM
 #33587

So what happened to that old argument... "ROI is only when you earn your original BTC investment back"? I paid just over 10 BTC not $10,000.

I have 18 working boards from the first batch that hash at ~2.5THs. I also bought 2 extra controllers (PSUs and heatsinks for another ~$2000 invested) so I can run another 12 boards from the second shipment. I'm just waiting for some IDC ribbon cables to be delivered. Hopefully I can cherry-pick enough boards to get another ~2THs.

I haven't done the math but I should be able to get close to a positive ROI at some point in the future. The biggest downside to ROI is the resale value of these fragile hunks of crap. Unless it's a local delivery, I don't see much chance of ever being able to resell them.

What happened to the equally old argument of taking the BTC refund and getting 2X your initial investment right now?  Wink   

Lol, point taken! But a refund was not an option for me at the time as they were offering bank transfer only for small orders which I did not want. I would have taken a BTC refund though if it had been offered.

I wanted a refund too, but I bought through a buddy in the states and a cash refund would have hurt him.
gmaxwell
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May 12, 2014, 02:00:41 AM
 #33588

If KNC made enough money for Boden from original orders (Saturns and Jupiters) why in the world would they need to finance the development of the Neptunes and Titans with preorders?
An uncharitable interpretation would be so they could be "delayed" and leave customers in a lurch where they would feel grateful to accept apparently used hardware, allowing KNC to cycle out their inventory so that their own facility can run on the latest gear.  But what do you expect from a company who flagrantly violated their self-mining promises pretty much as rapidly as they good, using their customers payments to go into competition with them and making their own products into an assured bitcoin for bitcoin loss?

Bitcoin will not be compromised
RoadStress
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May 12, 2014, 02:07:07 AM
 #33589

If KNC made enough money for Boden from original orders (Saturns and Jupiters) why in the world would they need to finance the development of the Neptunes and Titans with preorders?

You got it wrong. They built the Boden facility with customers Neptune preorders. Titan preorders were just a bonus. Now with their big ass DC they don't care about their customers. They are the pure example of simple nerds turning into greedy sons of bitches. And now I understand why nerds deserve bullying. Because KnC!

iCEBREAKER is a troll! He and cypherdoc helped HashFast scam 50 Million $ from its customers !
H/w Hosting Directory & Reputation - https://bitcointalk.org/index.php?topic=622998.0
freakingcat
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May 12, 2014, 03:07:51 AM
 #33590

Please let me know if you initialize a lawsuit, I am joining
davewr2013
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Bitcoin For All


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May 12, 2014, 04:29:34 AM
 #33591

I tried to find my Neptune posts so I could copy them -- and gloat. But gloating seems in really poor taste because of all the problems...

Anyway when Neptune was announced I provided some cautions -- including that I had some Xilinx 20NM based product on order -- and it was already late -- it should have been delivered in Oct/Nov 2013. I should see a shipping notice this week -- I guess.

As someone who worked all his life at the bleeding edge of technology I could not see this (Neptune) product could be delivered on time. I had hoped they would make additional Jupiters available in December/January -- as they likely (but not certainly) would have made a positive ROI.

My calculations showed that delivery later than mid-March 2014 made a positive payout seem unlikely.

Then I saw the notice about their northern mining factory....

Then came the 3THash mining contracts offer...

The came the "be patient" -- we'll deliver a "two-for-one" offer!


Anyway -- I guess this cost me since the rise in difficulty means we will get about 10 BTC less than estimated from our Jupiter (nee Saturn)...

It looks like bait and switch to me -- go get them!

Not happy in Canuckistan!

Risk is one thing -- chance is another -- don't want to use the nasty "F-Word" but when you promise one thing and don't deliver -- or deliver something else or devalued goods -- what can you call it? Just a wee mistake?



Give me this day my daily Bitcoin...
sbfree
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May 12, 2014, 07:48:00 AM
 #33592

Please let me know if you initialize a lawsuit, I am joining
freakingcat, are you the one who received the 1st BROKENJUP from KNC?? and the same who visited zeusminer?? are they legit unlike our thread hosts.
yelloyello
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May 12, 2014, 08:30:05 AM
 #33593

This morning I have a good telephone conversation with KNC.
I can send back all the broken cards on their costs. Received a UPS label.

KNC confirmed the replacement cards are new and tested.
So I hope this nightmare comes to an end.

Keep you guys informed.

freakingcat
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May 12, 2014, 09:23:09 AM
 #33594

Please let me know if you initialize a lawsuit, I am joining
freakingcat, are you the one who received the 1st BROKENJUP from KNC?? and the same who visited zeusminer?? are they legit unlike our thread hosts.

Yes I am the same who got the damaged KnC miners and had them tested with a technician who told me that they are dangerous to run as they run too hot. Just posted some screenshots of yesterday's second testing round on the KnC Forum.

I usually buy all the miners which are out there and as I live in Hong Kong which is close to Shenzhen I went to meet Zeus. I can guarantee you that Zeus is genuine and that they are producing high quality miners which they will ship out already on the 20th. I have invested a lot of money with them and no worries as Terry is very transparent, friendly, knowledgable. I have seen the first prototypes hashing. Can't wait to get my miners!
yelloyello
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May 12, 2014, 10:15:41 AM
 #33595

Does Zeus have a website?
Biffa
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May 12, 2014, 10:46:21 AM
 #33596

Please let me know if you initialize a lawsuit, I am joining
freakingcat, are you the one who received the 1st BROKENJUP from KNC?? and the same who visited zeusminer?? are they legit unlike our thread hosts.

Yes I am the same who got the damaged KnC miners and had them tested with a technician who told me that they are dangerous to run as they run too hot. Just posted some screenshots of yesterday's second testing round on the KnC Forum.

I usually buy all the miners which are out there and as I live in Hong Kong which is close to Shenzhen I went to meet Zeus. I can guarantee you that Zeus is genuine and that they are producing high quality miners which they will ship out already on the 20th. I have invested a lot of money with them and no worries as Terry is very transparent, friendly, knowledgable. I have seen the first prototypes hashing. Can't wait to get my miners!

Zeus is scrypt mining isn't it?

AFox
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May 12, 2014, 11:41:58 AM
 #33597

How can they come up with a so bad design for the FrankenJupiter !
Look at their video : https://www.dropbox.com/s/wq0fl657n3i818u/20140430_200829.mp4
Did they seriously think it would arrive in one piece ?! The box itself is thin and the coolers aren't attached to anything.

My lucky BTC address : 1LoTTerY3WYbGxVRHvh8oDudDdTxFvvqWF
elasticband
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Nighty Night Don't Let The Trolls Bite Nom Nom Nom


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May 12, 2014, 12:33:49 PM
 #33598

have they gone insane? I hope to hell they don't ship out hosted miners like that, with the NEW upgrade boards they are putting in and yes Anna said NEW boards on the phone to me.
btc_uzr
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let's have some fun


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May 12, 2014, 01:00:45 PM
 #33599

KNC now has ties with the Bitcoin Foundation Board of Directors.
http://www.coindesk.com/bobby-lee-brock-pierce-join-bitcoin-foundations-board-directors/

yuk that's messy i hope they clean up the hotel rooms after their 'parties'


Welcome to the League of Extraordinary Gentlemen!

From the ones they replace, one is in jail and the other will end there soon. Great perspective for bitcoin.

Yep, others feel the same way
https://bitcoinfoundation.org/forum/index.php?/topic/951-post-your-bitcoin-foundation-resignations-here/

!! File Complaints Against KnCMiner NOW !!
..and Thou shalt spread the coin in the name of cryptography for eternity
Phoenix1969
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LIR DEV


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May 12, 2014, 04:47:16 PM
 #33600

This morning I have a good telephone conversation with KNC.
I can send back all the broken cards on their costs. Received a UPS label.

KNC confirmed the replacement cards are new and tested.
So I hope this nightmare comes to an end.

Keep you guys informed.


New, and tested, eh.....   so the thermal paste is from the testing, and the cards are actually new, so there was indeed a manufacture problem confirmed?  Did they say anything else besides "new"?


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