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Author Topic: Swedish ASIC miner company kncminer.com  (Read 3031293 times)
Meizirkki
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October 12, 2014, 12:11:55 PM
 #38541

Remember, the sole purpose of a company is to make money
The main purpose of a company is to fulfill a need.
That's the purpose of a non-profit organization. No company will fulfill any need unless it's profitable to them.
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October 12, 2014, 12:57:20 PM
 #38542

....does not bode very well does it?

Nyet commissar Sea-Ring
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October 12, 2014, 04:53:10 PM
 #38543

wondering on your bonus neptune and what KNC is up to with the old pools?

from www.kncminer.com forums

link

http://forum.kncminer.com/forum/main-category/hardware/63400-knc-mining-pool-grows-while-we-continue-to-wait

in detail below the cut and paste from sixbk on kncforums

begging of quote



KNC Mining pool grows while we continue to wait
Today, 03:48 PM
You can see here the history of the KNC Miner owned pool over the weeks leading up to the release of the Neptune through until today.

Source : http://organofcorti.blogspot.com.au/...n-network.html

June 1st
6.49%
June 8th
6.14%
June 15h
3.13%
June 22nd
6.35%
June 29th
5.31%
July 6th
5.31%
July 13th
4.11%
July 20th
4.20%
July 27th
3.56%
August 3rd
4.37%
August 10th
3.52%
August 17th
3.56%
August 24th
3.89%
August 31st
2.96%
September 7th
2.85%
September 14th
3.70%
September 21st
3.92%
September 28th
4.64%
October 6th
4.74%

At the beginning of this time period the difficulty was 10,456,000,000, the difficulty is now 35,002,000,000, overall growth of 334%.

The June 1st results (6.49% of approx 80PH) would indicate a hashrate of about 5.2PH

The October 6th results (4.74% of approx 260PH) would indicate a hashrate of 12.3PH

An approximate growth of 7.1PH for the KNC Miner pool over the time period since the Neptune announcement and deliveries began.

Assuming 3.6TH per Neptune, this growth would indicate an additional 1972 Neptunes (7100 / 3.6) that have been added to the private KNC Miner pool over the last four months.

This, while customers are still awaiting delivery of their Neptunes + Bonus Neptunes.

You can see a gradual decline of the % of total hashrate up until late August or early September, this decline is only in relative terms to the total growth of the Bitcoin network. The KNC Mining pool hashrate continued to grow throughout this period. It allows us to pinpoint where they seem to have completely stopped giving a damn about paying customers and started really focusing on themselves.

Here it is, the best evidence I could find to support the accusations that KNC are giving us the shaft.

Thoughts?

Anyone from KNC care to comment on this?

(posted on kncforum by sixbk)


end quote

I particularly like this line

"Assuming 3.6TH per Neptune, this growth would indicate an additional 1972 Neptunes (7100 / 3.6) that have been added to the private KNC Miner pool over the last four months."
Jeez 334% increase in their hashing pools from june 1st to oct 6th

guess that explains the old Neptune delays

anyway just figured a repost of this was a heads up

















 

 

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Collider
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October 12, 2014, 04:58:48 PM
 #38544

While KnC isn´t technically scamming anyone (intentionally) they have been operating in what I would consider a legal grey area, delivering late-ish on their promises (but not actually late most of the time).

The only reason KnC still bothers with public customers is to make you guys pay for their NRE and maybe bag some cash from nonrefundable pre-orders, and afterwards mass produce their own miners for their mining facility.

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October 12, 2014, 05:00:32 PM
 #38545

There are however some instances of late delivery, particularly regarding their most recent Bitcoin miner, which was delivered late in some cases, and was (way) overpriced in all cases.

Some people unfortunately didn´t take their pre-order refund, and some weren´t allowed to.


For most miners pre-ordering doesn´t pay, however many miners have to learn this the hard way.

I had a Neptune pre-order myself, but I got my refund (after waiting approximately 2 months for it).

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October 12, 2014, 05:05:31 PM
 #38546

There are however some instances of late delivery, particularly regarding their most recent Bitcoin miner, which was way overpriced anyway.

Some people unfortunately didn´t take their pre-order money back, and some weren´t allowed to.

remember they only have a 90 day warranty now...in the case of the Titan it has been almost 30 days since the first units were shipped so for those guys 1/3
of the warranty is already gone....they only have to say support the Titan for say 120 days total assuming they ship it all out to us so that 120 is best case imho

after that point if it is still kludged up and kinda sorta working KNC can walk away

they have no incentive in any direction to provide public support and fixes and again ....I'll state here in Nov/Dec they will announce (perhaps modest) Titan Data Hall
imho

also on kncforums if you send in something for a RMA they send back something stating they make NO CLAIMS on when you will get you stuff back fixed ..in that
they are swamped

if you email them about a refund they stop replying to you about ANYTHING even legit RMA issues

man talk about going the BFL route in a big way!














 

 

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October 12, 2014, 05:08:19 PM
 #38547

@Searing

Yeah, their business ethics is essentially BFL but with a little more production competence.

As I said, they will do exactly as much as required by law.
This unfortunately means that much of their product will most likely never ROI (even lass than any other product that is) and they will use any case of plausable deniabilty against you.

Production quality was horrible on the Neptune and FrankenJupiter, and it doesn´t seem to be significantly better with the Titan.

On top of that, I would advise anyone living in a facility with an active miner to invest in some fire detection equipment, which can be purchased for less than 30$ at your local hardware store
(especially if you live in a wooden aka standard American home).

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October 12, 2014, 06:56:42 PM
 #38548

Yeah, their business ethics is essentially BFL but with a little more production competence.

Hello cpt. Obvious:)

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October 12, 2014, 07:05:32 PM
 #38549

@Searing

Yeah, their business ethics is essentially BFL but with a little more production competence.

As I said, they will do exactly as much as required by law.
This unfortunately means that much of their product will most likely never ROI (even lass than any other product that is) and they will use any case of plausable deniabilty against you.

Production quality was horrible on the Neptune and FrankenJupiter, and it doesn´t seem to be significantly better with the Titan.

On top of that, I would advise anyone living in a facility with an active miner to invest in some fire detection equipment, which can be purchased for less than 30$ at your local hardware store
(especially if you live in a wooden aka standard American home).


yeah my thinking on this the last few days is the amount of FUD and just plain problems with Titan...EVEN if they would have arrived more or less working at 300mh
and did multipools

the stuff of quality control and all the other issues I and others have mentioned in other posts...even if the dang Titan worked as advertised at 300mh and did
multipools..the quality of the item and all the other hic ups would be epic (in conjunction with the 90 day warranty)

on top of the Titan not working and not doing 300mh and not mulit-pools and not doing scrypt  N  and a time line of 90 days before KNC walks away from this piece of sh*t
product....well imho it is way way way over the top...we are taking in the front (no roi) and the back (plain ass don't work)...and KNC has NO reponsiblity to worry about in all this
as far as they are concerned in either situation...ie no refund..we are a business...we just have to eat this sh*t sandwich

so we got doubled up on the fact it CAN'T ROI even if it did work as advertised and on time for shipping etc...the additional stuff imho knocks a Titan owner from MAYBE
if it worked getting 1/2 of his purchase price back from using the equipment to now with all the problems on top of that it a person running the Titan (assuming it lasted past the 90 day warranty) you MIGHT get 1/4 of your purchase price out on the Titan now imho assuming you EVENTUALLY get  a Titan that works at 300mh and does multi-pool

the odds against us and for KNC on the responsibility of the Titan purchase got for us a lot worse imho

anyway you get my drift......its like you bought a boat ..took a 1/2 loss on the boat and now find the boat needs major repairs to get it to work...and now you are 3/4 in the hole
on said boat...with the guy who sold you the boat having NO responsibility...in any type of consumer protection we not only got took we are continuing to get taken the longer this piece of sh*t product has problems

well so it goes i guess but seems to be piling up on us at the consumer end big time

 














 

 

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October 12, 2014, 09:17:42 PM
 #38550

anyone interested in purchasing a first batch titan ?  I am willing to take a loss.  Make me an offer. 
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October 12, 2014, 09:21:06 PM
 #38551

No I prefer to wait for mine

When it will be arrived
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October 12, 2014, 09:41:03 PM
 #38552

anyone interested in purchasing a first batch titan ?  I am willing to take a loss.  Make me an offer. 

sure i'll take it...probably worth 1/10th of what ya paid for it...so i'll offer 10% of what ya paid for it Smiley

Dreams of cyprto solving everything is slowly slipping away...Replaced by scams/hacks Sad
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October 12, 2014, 09:55:10 PM
 #38553

any news on the bonus miners?

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October 12, 2014, 10:26:04 PM
 #38554

Yeah they are prolly all in the Know Nothing Company DC mining the dodo out of BTC while they still can.
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October 12, 2014, 10:59:14 PM
 #38555

and they will send them when mining below costs of electricity.
I want to see the scumbags roasted by some consumers protection EU agenda. No chance they would get away with that forever.

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cryptodaknight
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October 12, 2014, 11:24:00 PM
 #38556

If you haven't seen this yet, time we organize and get a proper lawsuit going.

https://twitter.com/KNCRefund

http://www.kncrefund.com/index.html

Not only refunds, but lost BTC we could have made that they made instead from out seed money. These guys need to be dismantled and then assets divided among those having their funds taken and used toward datacenter on our dime.
l3sny
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October 12, 2014, 11:46:40 PM
 #38557

goood! wish you all the best!
I just want to get my bonus miner and cut the ties with the scumbags.

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Searing
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October 13, 2014, 12:51:37 AM
 #38558

anyone interested in purchasing a first batch titan ?  I am willing to take a loss.  Make me an offer.  

the in hand Titan's are going (just now link below of sold units) for 4.75k on Ebay ..in hand new in box...just so you get an idea on how much pain you will take

and EBAY is high in price imho too boot

link to completed Titan units sold 1st batch in hand etc

http://www.ebay.com/sch/i.html?_from=R40|R40&_nkw=knc+titan&_in_kw=1&_ex_kw=&_sacat=0&LH_Sold=1&_udlo=&_udhi=&_samilow=&_samihi=&_sadis=15&_stpos=&_sargn=-1%26saslc%3D1&_salic=1&_sanli=1&_sop=12&_dmd=1&_ipg=50&LH_Complete=1

me well for that price I may as well play with the damn thing....I was forced thru bank error to be a 'legal miner' in USA (yeah it sucks essentially bank said i paid 90k to knc
rather then 10k and had to show myself as bona fide business to get it fixed.prove the bank screwed up....ie tax form under 2013 irs alt currency business etc)

anyway I can take 25% off in equip (they say it is a computer) for 5 years thus get that back at least...so maybe this will work out well for me this year as well
(was supposed to pay 4k last year in taxes but had biz and equip deductions paid zip probably same this year zip)

anyway on a side note with btc tanking and if you are in too much into equip like me you MAY want to talk to CPA about this .you may want to go legal

so anyway with that in mind...may as well get the 25% back off the full price in tax credits as sell the boat anchor on $10,131.80 that comes out to $2532.95

so it hardly pays to sell at 4.75k at this point in the 'shake down' in my purchase from KNC

anyway my boat...I'm stuck as to others maybe an ebay price of 4.75k makes sense you probably would be able to BUY more BTC then the Titan will ever make imho

so it goes.. bitcoin is a cruel mistress learning curve wise don't ya know

















 

 

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zakalwe
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October 13, 2014, 09:59:07 AM
 #38559

Guys stay away from these clowns. My titans order is in shipping modsince 20 days and all they can answer is "our system doesn't allow us to see the queue". This is becoming a real fraud. As BFL

And frankly crypto world needs to get rid of all this scammers.

zakalwe
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October 13, 2014, 10:00:29 AM
 #38560

Yeah, their business ethics is essentially BFL but with a little more production competence.

Hello cpt. Obvious:)


You're having fun Sam and company? I'm glad........... Keep on laughing.....


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