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Author Topic: Swedish ASIC miner company kncminer.com  (Read 3011992 times)
RealMalatesta
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May 12, 2014, 10:47:47 PM
 #33621

Strong rumors re KnC announcement tomorrow on spond board.
My prediction:
1. Neptune in 7-14 days at 3.5-4.5th instead of 3 plus new cloud hashing option similar to Cointerra. Boring.
2. More interesting: Reduction of price for Mini neptune to $3499 (if they are smart) or $3999 (if they are greedy; at 2th), which would be available in 3-4 weeks. Again, if they want to really push it, make mini available in 2 weeks. Mini is the only thing they can use to fight SP-10.

If not 1 or 2, then it is lights out eventually.

Guess it is option 3.
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Biodom
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May 12, 2014, 10:48:37 PM
 #33622

Who is going to buy from Knc again?

I bet not many.



People will buy if price and product is good and NOT a 4-6 mo preorder (2-3 wk probably OK).
Are you saying that ~2th machine for $3499 in 2 wk is not competitive? In 4 wk-I don't know.
RealMalatesta
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May 12, 2014, 10:50:38 PM
 #33623

any news on a law suit?

Not yet. The COI-process has been finished, hope to hear more tomorrow.
tolip_wen
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May 12, 2014, 10:58:29 PM
 #33624

so far, i have 3 boards that dont work and one broken board, gone through only 6


How are you troubleshooting the boards?

I suggest one known good controller, one known good ribbon cable, and test each board with the known good components.

DO NOT use power extension cables for testing!
(don't know if the franken has them but they have a high failure rate)

One thing to look out for is the ribbon cable to ASIC module connection.
On the controller side they have keyed sockets to prevent mis-installation.
The ASIC modules just have the pins without the keyed plastic housing.
It is possible to mis-install the cable at the ASIC end.
Also keep in mind the stripe on the cable indicates pin one.

Subdivide and conquor!

Hope this helps! Smiley

..........................................
I don't know what the Sweedish translation of "penny wise and pound foolish" is but I think it applies to KnC.
Frugal to a FAULT!
They probably spent more due to errors from easy mishaps that they would have spent to prevent them.
IMneverHO

You get what you play for.
(Insert favorite Jim Layhey shitism here)



YMMV
Smiley

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tzortz
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May 12, 2014, 11:02:34 PM
 #33625

Who is going to buy from Knc again?

I bet not many.



People will buy if price and product is good and NOT a 4-6 mo preorder (2-3 wk probably OK).
Are you saying that ~2th machine for $3499 in 2 wk is not competitive? In 4 wk-I don't know.


Of course, theoretically speaking is competitive,  but dont forget that only a few , if not none, trust Knc anymore.

They failed with an inferior product. Who is trusting them with the hi-tech 20nm???

All is Mine!

1H7LUdfx9AFTMSXPsCBror3RDk57zgnc2R
Biodom
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May 12, 2014, 11:12:21 PM
 #33626

Who is going to buy from Knc again?

I bet not many.



People will buy if price and product is good and NOT a 4-6 mo preorder (2-3 wk probably OK).
Are you saying that ~2th machine for $3499 in 2 wk is not competitive? In 4 wk-I don't know.


Of course, theoretically speaking is competitive,  but dont forget that only a few , if not none, trust Knc anymore.

They failed with an inferior product. Who is trusting them with the hi-tech 20nm???

I like this potential news because once we have an intense competition (Bitmain, Spond, KnC, Cointerra), better prices and equipment should ensue.
xstr8guy
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May 12, 2014, 11:16:48 PM
 #33627

Who is going to buy from Knc again?

I bet not many.



People will buy if price and product is good and NOT a 4-6 mo preorder (2-3 wk probably OK).
Are you saying that ~2th machine for $3499 in 2 wk is not competitive? In 4 wk-I don't know.


Of course, theoretically speaking is competitive,  but dont forget that only a few , if not none, trust Knc anymore.

They failed with an inferior product. Who is trusting them with the hi-tech 20nm???

Total wild-guess here but I'd bet only a relatively small percentage of KNC customers even read the forums and don't know anything about recent troubles. It's illuminating to read the alt coin forum and see all of the people who are still absolutely giddy for the Titan. Many of them have absolutely no idea of KNC's SHA miner history and they continue to site KNC as a company that "over-delivers". Heck, the official BFL forum still has a lot of cheerleaders excited for their Monarchs despite poor communication and continued delays.

My point, I have a feeling that those of us who are active and critical on the forums are a very vocal minority and the masses simply don't know or care about the details.
dhenson
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May 12, 2014, 11:22:31 PM
 #33628

Just a heads up to those of you with hosted miners being sent to you.  My miner just went offline, I'm assuming my hosting term is now over.  I've not received official word from KNC just noticed the lack of hash.
Biodom
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May 12, 2014, 11:25:58 PM
 #33629


Total wild-guess here but I'd bet only a relatively small percentage of KNC customers even read the forums and don't know anything about recent troubles...My point, I have a feeling that those of us who are active and critical on the forums are a very vocal minority and the masses simply don't know or care about the details.

This is simply not possible. People paid 20-26K for 2 machines.
To me, this is serious money (not to play with).
You could buy a reasonable midsize car for 26K (Honda, Volkswagen or Toyota)
RoadStress
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May 12, 2014, 11:37:14 PM
 #33630


What for?

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
xstr8guy
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May 12, 2014, 11:39:06 PM
 #33631


Total wild-guess here but I'd bet only a relatively small percentage of KNC customers even read the forums and don't know anything about recent troubles...My point, I have a feeling that those of us who are active and critical on the forums are a very vocal minority and the masses simply don't know or care about the details.

This is simply not possible. People paid 20-26K for 2 machines.
To me, this is serious money (not to play with).
You could buy a reasonable midsize car for 26K (Honda, Volkswagen or Toyota)

I beg to differ. You are giving the "average Joe" way too much credit!  Lol. People are generally lazy and will often expend the minimal amount of effort to research their purchases. New people continue to flock to blatant scams and always will. So a somewhat reputable company like KNC will have very little difficulty attracting new, uninformed customers.
joeventura
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May 12, 2014, 11:42:48 PM
 #33632


Total wild-guess here but I'd bet only a relatively small percentage of KNC customers even read the forums and don't know anything about recent troubles...My point, I have a feeling that those of us who are active and critical on the forums are a very vocal minority and the masses simply don't know or care about the details.

This is simply not possible. People paid 20-26K for 2 machines.
To me, this is serious money (not to play with).
You could buy a reasonable midsize car for 26K (Honda, Volkswagen or Toyota)

I beg to differ. You are giving the "average Joe" way too much credit!  Lol. People are generally lazy and will often expend the minimal amount of effort to research their purchases. New people continue to flock to blatant scams and always will. So a somewhat reputable company like KNC will have very little difficulty attracting new, uninformed customers.

Unless the average Joe is me.

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RealMalatesta
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May 12, 2014, 11:44:09 PM
 #33633

Who is going to buy from Knc again?

I bet not many.



People will buy if price and product is good and NOT a 4-6 mo preorder (2-3 wk probably OK).
Are you saying that ~2th machine for $3499 in 2 wk is not competitive? In 4 wk-I don't know.


Of course, theoretically speaking is competitive,  but dont forget that only a few , if not none, trust Knc anymore.

They failed with an inferior product. Who is trusting them with the hi-tech 20nm???

Total wild-guess here but I'd bet only a relatively small percentage of KNC customers even read the forums and don't know anything about recent troubles. It's illuminating to read the alt coin forum and see all of the people who are still absolutely giddy for the Titan. Many of them have absolutely no idea of KNC's SHA miner history and they continue to site KNC as a company that "over-delivers". Heck, the official BFL forum still has a lot of cheerleaders excited for their Monarchs despite poor communication and continued delays.

My point, I have a feeling that those of us who are active and critical on the forums are a very vocal minority and the masses simply don't know or care about the details.

I agree. In groups other than here (nanog, delug and alike), people still are over-enthusiastic about KnC. "Hey, see, I've received this mail. I will get TWO miners, not only one..." That's the sound there.

So it is about time to set up a website for publishing the facts.

And frankly: The facts on the Frankenjupiters and Neverneptunes are one issue. This will not hurt them. What will hurt them are facts about the people behind KnC. About the founders, the money they used, the investors, about their bank-plans and alike. Because THIS is what counts in the world of finance. A couple of miners have been ripped off? That's a banker's normal day-to-day business. But it looks different when a banker has to think twice if he wants to be involved with sex, drugs - and no, no Rock-n-roll....
helmax
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May 12, 2014, 11:54:59 PM
 #33634

Bitcoinorama is gone a long time ago

looking job
RealMalatesta
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May 13, 2014, 12:00:56 AM
 #33635

I love stuff like this. It won't speed up my refund (if it ever will come), but gives some feeling of comfort...

Quote
Recently, Pierce angered bitcoin enthusiasts through his involvement in KnCMiner, a company that sold broken computers to bitcoin miners. Pierce says his involvement with the company is limited, and that the firm is committed to compensating its customers.
RealMalatesta
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May 13, 2014, 12:04:10 AM
 #33636

And this:


Quote
KnCMiners is a Swedish company that sells specialized computers designed to run the complex algorithm that creates bitcoins — a process known as “mining.” Although any computer can technically run the program, fierce competition among miners has spurred an arms-race of computing power, in which users are forced to constantly upgrade their hardware to continue to make a profit.

Pierce is the chairman of KnCMiners.cn, which he describes on his LinkedIn page as “distributor of KNCminer Bitcoin ASIC mining devices in China.” In a statement, he said that he does not “own KnCMiner or have anything to do with the principal business” and only works as a distributor of KnC products in China.

The firm has recently been mired in controversy after hundreds of its customers received damaged or otherwise useless hardware. On an April 28 blog post, the company apologized to its customers for selling them products that were “quite frankly unusable.”

Bitcoin miners took to the company’s forum and to popular discussion board Bitcointalk to complain about delayed refunds. Commenters appeared particularly upset by the fact that KnCMiners refused to refund them in cash, and insisted to pay in bitcoin.

But perhaps the most bitter complaint in the forums was that KnCMiners had shipped the broken computers just as it prepares to begin competing with its customers. According to the Wall Street Journal, the company has built a large mining center in Boden, a city in the remote north of Sweden. The “mine” will run state of the art supercomputers night and day, taking advantage of the region’s freezing weather to cool down the machines and make millionaire profits.

Pierce offered an explanation for the data center. He said the idea is that people will be able to purchase “shares” of a supercomputer and allow a professional company to manage the day-to-day function of the machines — which means that KnC would not in fact compete with its consumers.

He added that bitcoin-mining hardware is by definition “a prototype” that cannot be expected to work perfectly. He said that KnC is “the most reputable of any company in the business” and that it had offered its clients a good deal by shipping new machines to them without requiring that consumers return the faulty ones.

KnCMiners did not immediately respond to requests for comment.
RealMalatesta
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May 13, 2014, 12:07:08 AM
 #33637

And this:


Quote
KnCMiners is a Swedish company that sells specialized computers designed to run the complex algorithm that creates bitcoins — a process known as “mining.” Although any computer can technically run the program, fierce competition among miners has spurred an arms-race of computing power, in which users are forced to constantly upgrade their hardware to continue to make a profit.

Pierce is the chairman of KnCMiners.cn, which he describes on his LinkedIn page as “distributor of KNCminer Bitcoin ASIC mining devices in China.” In a statement, he said that he does not “own KnCMiner or have anything to do with the principal business” and only works as a distributor of KnC products in China.

The firm has recently been mired in controversy after hundreds of its customers received damaged or otherwise useless hardware. On an April 28 blog post, the company apologized to its customers for selling them products that were “quite frankly unusable.”

Bitcoin miners took to the company’s forum and to popular discussion board Bitcointalk to complain about delayed refunds. Commenters appeared particularly upset by the fact that KnCMiners refused to refund them in cash, and insisted to pay in bitcoin.

But perhaps the most bitter complaint in the forums was that KnCMiners had shipped the broken computers just as it prepares to begin competing with its customers. According to the Wall Street Journal, the company has built a large mining center in Boden, a city in the remote north of Sweden. The “mine” will run state of the art supercomputers night and day, taking advantage of the region’s freezing weather to cool down the machines and make millionaire profits.

Pierce offered an explanation for the data center. He said the idea is that people will be able to purchase “shares” of a supercomputer and allow a professional company to manage the day-to-day function of the machines — which means that KnC would not in fact compete with its consumers.

He added that bitcoin-mining hardware is by definition “a prototype” that cannot be expected to work perfectly. He said that KnC is “the most reputable of any company in the business” and that it had offered its clients a good deal by shipping new machines to them without requiring that consumers return the faulty ones.

KnCMiners did not immediately respond to requests for comment.

For someone who only is distributing KnC-devices in Asia, Pierce is obviously deeper involved in KnC's day-to-day-business as we all thought.
SgtMoth
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May 13, 2014, 12:53:58 AM
 #33638

I have 10 working boards from the replacements, 5 more have broken pieces, and 3 more that wont start
SgtMoth
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May 13, 2014, 12:54:34 AM
 #33639

these looked like new boards, most of them
RealMalatesta
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May 13, 2014, 12:55:10 AM
 #33640

I have 10 working boards from the replacements, 5 more have broken pieces, and 3 more that wont start

Two more days, and KnC will tell you that they've sent you crap for educational purpose.
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