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Author Topic: Swedish ASIC miner company kncminer.com  (Read 3037212 times)
jedygabriel
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November 19, 2014, 09:42:14 PM
 #39261

Guys, anyone could say if there would be a possibility of a legal action after those 3 months late??? i bought in preorder, but it said Q3, and just got ready on this week...
I am really desperate, and i was going to let the machines on genesis, and now they said that my contract is too small for them to be enrolled with the lawyers for my tax takeback on the airport.
Anyone know a farm in sweden or iceland to rent KW/H?
Some1 please give me a light...





im so fucked up...
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McKinley
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November 19, 2014, 11:09:56 PM
 #39262

KnCMiner is going to stop selling miners to “unhappy customers” and will instead focus on mining themselves.
.....

“When we don’t have these customers buy our hardware it becomes a different business model. It becomes much easier, much more open, much more honest,” Cole said in a phone interview. “There’s still going to be $2 billion, at today’s price, mined in the next few years. That’s a lot of cash that’s up for grabs, and we’re going to do our best to take a decent chunk of it.”

Their production costs are much lower than the price tag on any of their machines. The pricing for their customers probably includes R&D plus an extra. Their own machines they buy then only at production costs. Therefore they themselves make cash, their customers not. No wonder their customers are unhappy. They got an unequal deal.

More reasons to be unhappy:
1) KNC finds loopholes in their promises, i.e. Titan Q3 delivery is "we ship the first unit in Q3, the rest goes in Q4..."
2) KNC has preorders without refunds, plus a pricing for a MH/s value that at the time of delivery is far too high
$10.000 Titan customers earn now less than $ 30 a day - no discount or MH/s upgrade. And
3) if that interviews correct - Cole doesn't like "these" - who is meant by these? - all?- customers and regards them (or at least life with them) as dishonest?

Probably it makes sense not to offer customer products any more. Not because of dishonest customers, but because honest customers will not buy at a company that has a destroyed reputation like this.

It would be good for KNC to once imagine themselves as a customer being treated like this and see it the other way round. And then think again what they would expect in that situation. KNC did a good job when they started. Since then, it started with the upgrade promises for the slower bitcoin machines which they couldn't keep, then their late Bitcoin, then their late Litecoin miner with 3 months delivering. One goal shot, three goals received. If it'd be a football team: Time to change something.
samsonn25
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November 20, 2014, 12:36:24 AM
 #39263

I am sure I read somewhere Knc are stopped making hardware due to huge customer complaints

More likely because they made a killing with the Mercurys, Saturn, and Jupiters, and then did it again with the Neptunes.

Now the jig is up

Noone faling for the pre-order scam anymore, and they made enough anyway. 

I hope other competitors can market better asics faster and make their datorhall FUP
s1gs3gv
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November 20, 2014, 01:29:29 AM
 #39264

KNC is a crap company with crap products, crap customer support and crap ethics. In summary, KNC is just a bunch of dodo fouling up the streets of Stockholm and the bitcoin world.
Bogart
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November 20, 2014, 01:31:48 AM
 #39265

I'm trying 1.11 on my Titan now.

24 hours later it's still running fine.

1.11 seems to have had a positive impact on its effective hashrate.  The pool now reports a 24 hour average of 342Mh/s, where it showed 325Mh/s under 1.05.

"All safe deposit boxes in banks or financial institutions have been sealed... and may only be opened in the presence of an agent of the I.R.S." - President F.D. Roosevelt, 1933
s1gs3gv
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November 20, 2014, 01:55:11 AM
 #39266

I'm trying 1.11 on my Titan now.

24 hours later it's still running fine.


Try it on p2pool or solo mine a fast block time coin

~L)L~

jelin1984
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November 20, 2014, 11:11:17 AM
 #39267

which is the best diff for titan?? Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes
Sine(X)
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November 20, 2014, 11:34:32 AM
 #39268

KnCMiner is going to stop selling miners to “unhappy customers” and will instead focus on mining themselves. Hot on the heels of Magnus Daar Esq. of Nova, a law firm based in Sweden, stating that KnC’s actions might hurt Sweden’s reputation for other Swedish companies, KnC’s co-founder Sam Cole has admitted to closed and less-than-honest business dealings with former KnC customers. Here is his quote from his interview with Niclas Rolander of Bloomberg:

“When we don’t have these customers buy our hardware it becomes a different business model. It becomes much easier, much more open, much more honest,” Cole said in a phone interview. “There’s still going to be $2 billion, at today’s price, mined in the next few years. That’s a lot of cash that’s up for grabs, and we’re going to do our best to take a decent chunk of it.”
This will stop 90% of the pre-order whiners that don't know about the Q/1-Q/2 DISHONEST delivery quotes, because they ALWAYS ship the first machine on the last possible day, with or without working firmware.
Over a year ago, a couple well-known Trolls refused to believe KNC started working with AllChip on 16NM FinFet technology, and that the first ones would be rolling out in January... ahem... March 31st.   What do you think now?

KNC is still very strong player on the market, they have 21 Phs of own mining (by organofcorti report).
How much does KNC pay for electricity on their DC in Boden, Sweden? http://www.datacenterknowledge.com/archives/2014/02/06/bitcoin-miners-building-10-megawatt-data-center-sweden/

As I know Sweden isn't a country with cheap electricity..
Jamphone
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November 20, 2014, 01:40:27 PM
 #39269

From what I can find, the best rate you'll pay in Sweden for electricity is about 8 eurocents per kWh, which isn't very good. That's what large mines and data centres pay.
Egon
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November 20, 2014, 02:05:51 PM
 #39270

I went by KnC's offices this morning.  KnC claims that they have now issued refunds to all Jupiter customers who requested them.  I received my refund on the 17th of November in bitcoin, even though it was specifically acknowledged by KnC that my refund would be via wire transfer to USD at my bank.  Hopefully that will get sorted out.  I can vouch for their office setup at a minimum, they have multiple employees and appeared very busy handling support and development.  That being said, they still took six months to issue me a refund and didn't even issue it correctly... Feel free to PM me with questions.
Pt0x
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November 20, 2014, 05:36:37 PM
 #39271

Now with  this 12nm announcement, we can assume that we might (if ever) get the extra Neptunes (used) from the retired equipment of their data center's once they complete the upgrade.

 Undecided

BTC: 17sz6AoYVpwXjaStmnVCsGTufUhvrAMhTw
jelin1984
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November 20, 2014, 06:41:46 PM
 #39272

TITAN had anyone have

two cubes with two working dies each


working at same hashing speed like 1 good tube or not?HuhHuhHuh??
Micky25
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November 20, 2014, 07:54:09 PM
 #39273

well, it depends.
jelin1984
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November 20, 2014, 08:01:24 PM
 #39274

It depends of what???
BitcoinPappi
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November 20, 2014, 08:05:17 PM
 #39275

TITAN had anyone have

two cubes with two working dies each


working at same hashing speed like 1 good tube or not?HuhHuhHuh??

You were offered that option for your RMA ?
samsonn25
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November 20, 2014, 09:41:04 PM
 #39276

From what I can find, the best rate you'll pay in Sweden for electricity is about 8 eurocents per kWh, which isn't very good. That's what large mines and data centres pay.

Plus maintenance and rent.
The Avenger
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November 20, 2014, 09:56:43 PM
 #39277

KNC is a crap company with crap products, crap customer support and crap ethics. In summary, KNC is just a bunch of dodo fouling up the streets of Stockholm and the bitcoin world.

vs

BTW, anyone else notice how they put the component that reports the chip temperature at the very *edge* of the board

Derogatory comment with no supporting evidence !


Talk to you guys soon when Neptune ships ON TIME and OVER SPEC to see what kind of CYA excuses you are making for yourselves.

Still makes me chuckle - at least you've seen the light now - praise (bitcoin) jesus!  Grin


"I am not The Avenger"
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The Avenger
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November 20, 2014, 10:05:32 PM
 #39278

From what I can find, the best rate you'll pay in Sweden for electricity is about 8 eurocents per kWh, which isn't very good. That's what large mines and data centres pay.

Quote
KnCMiner, based in Stockholm, operates about 7,000 machines. While the mining company’s electric bill in March came to $450,000, the computers mined 21,000 bitcoins, according to co-founder Sam Cole.
http://www.businessweek.com/news/2014-04-11/bitcoin-mining-boom-sputters-as-prospectors-see-real-cash-losses

21000x$600 = $12,600,000
$12,600,000 - $450,000 = $12,150,000
Do not, ever, in any way, feel sorry for these c@ck-suckers.

"I am not The Avenger"
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s1gs3gv
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November 20, 2014, 11:47:34 PM
 #39279

KNC is a crap company with crap products, crap customer support and crap ethics. In summary, KNC is just a bunch of dodo fouling up the streets of Stockholm and the bitcoin world.

vs

BTW, anyone else notice how they put the component that reports the chip temperature at the very *edge* of the board

Derogatory comment with no supporting evidence !


Talk to you guys soon when Neptune ships ON TIME and OVER SPEC to see what kind of CYA excuses you are making for yourselves.

Still makes me chuckle - at least you've seen the light now - praise (bitcoin) jesus!  Grin



I'm not shy about admitting that I now understand what you folks were going through. Let me add though that you would have personally been a lot more convincing without the drama-queen and low-life rhetorical approach you adopted.

Just the facts and nothing but the facts would have brought a lot of us around to your point of view a lot sooner.

RoadStress
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November 21, 2014, 12:14:04 AM
 #39280

KNC is a crap company with crap products, crap customer support and crap ethics. In summary, KNC is just a bunch of dodo fouling up the streets of Stockholm and the bitcoin world.

vs

BTW, anyone else notice how they put the component that reports the chip temperature at the very *edge* of the board

Derogatory comment with no supporting evidence !
Talk to you guys soon when Neptune ships ON TIME and OVER SPEC to see what kind of CYA excuses you are making for yourselves.

Still makes me chuckle - at least you've seen the light now - praise (bitcoin) jesus!  Grin

I'm not shy about admitting that I now understand what you folks were going through. Let me add though that you would have personally been a lot more convincing without the drama-queen and low-life rhetorical approach you adopted.

Just the facts and nothing but the facts would have brought a lot of us around to your point of view a lot sooner.

I am ok with myself when it comes to that. In the past the facts were pro KnC and I don't regret supporting them in their Jupiter days. A big red flag should have raised in anyone's eye when I had to wait 3 weeks in April to get my refund for my Batch 0 Neptune. There was clearly something fishy going on over there.

Welcome back Avenger. Will you vanish after KnC will fall?

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
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