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Author Topic: Swedish ASIC miner company kncminer.com  (Read 3039472 times)
Searing
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February 03, 2015, 05:46:23 AM
 #39701

KNC has really gone to hell. I got an underperforming Titan that has bad dies. My only goal now to mine 1000 LTC and pray to the sweet crypto gods that LTC will get back to 10$ and I will have some sort for ROI.  Smiley

Jeez...that is my bet too...(currently held every LTC I can miner on www.litecoinpool.org now with the merge mine addition it is at 105% ...was at 108% on 3.80 LTC Nov 8th
when I started this run up of hoarding LTC) ...anyway as of today at 550 LTC

But then again reading on what you posted above vs me "hoping" this in my head..it seems a lot more 'unlikely' ...then in the unicorn and rainbow world of my hopes/dreams....

no choice...I just CAN'T sell LTC direct to BTC on a multi-pool at 1.80 usd...it just makes me 'feel dirty' (so so wrong) so will hold and hope

when LTC dumps to 48c and such ..it will complete my dismal KNC TItan experience.......

but yeah I like what you write above ..it is my bet as well.....but reading it in black/white....in the 'real world' scares the bejebbes out of me...

still clinging to the hope that it will not matter in the future 'what you paid for your BTC/LTC/Mining or whatever...at this 2013 to 2015 point in time....but "when" you paid that
amount for the equiv coin'......ie got in early.....this too shall pass 'knock wood".....


(back to my in my head world view of unicorns and rainbows..and 40 buck LTC and 2K BTC as a 'bubble start' senario.....ah...much better....reality is overrated)


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Prelude
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February 03, 2015, 06:10:36 AM
 #39702

Yeah, I used to be pretty bullish about LTC.. No longer. I really think it's future is sub 50 cents.
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February 03, 2015, 07:00:27 AM
 #39703

Yeah, I used to be pretty bullish about LTC.. No longer. I really think it's future is sub 50 cents.

Hum well sub 50 cents. If I can mine 20k LTC then I will have made ROI.  Cheesy  So if the hash rate stays the same, in 10 years I will have mined 20K LTC. I don't think my Titan will last a year let alone 10 years. Sad My only hope is $10 LTC.

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February 03, 2015, 07:08:12 AM
 #39704

Have you read this?

KNC facing a class action lawsuit: http://bitcoinist.net/bitcoinist-news-bits-knc-lawsuit-investigation/
 Sad

Bitcointalk member since 2013! Smiley
TheRealSteve
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FUN > ROI


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February 03, 2015, 01:05:55 PM
 #39705

At the same time: Accel Investing In KnCMiner – 16nm tape-out completed

The Avenger
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February 03, 2015, 01:09:17 PM
 #39706

Have you read this?

KNC facing a class action lawsuit: http://bitcoinist.net/bitcoinist-news-bits-knc-lawsuit-investigation/
 Sad

I'm well known for my funny photos, but this is actually a real image from her website!



Watching that video, I'm not convinced she is up to the task. kfc are multi-millionaire ruthless crooks, who have made it a conflict of interest for any lawyer in Sweden to work against them. She'll be swallowed whole in 15 minutes.

"I am not The Avenger"
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RealMalatesta
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February 03, 2015, 01:40:10 PM
 #39707

Have you read this?

KNC facing a class action lawsuit: 
 Sad

I'm well known for my funny photos, but this is actually a real image from her website!



Watching that video, I'm not convinced she is up to the task. kfc are multi-millionaire ruthless crooks, who have made it a conflict of interest for any lawyer in Sweden to work against them. She'll be swallowed whole in 15 minutes.

The impression she left in the video is, hm, how to write it in a polite way...?

As a matter of facts, it doesn't really matter what lawyer you have in the US. All you need is one who can convince the DA that it is a RICO-case. And given some facts which are freely available, I don't think this will be so difficult. It would make sense if the community would dox a couple of the persons involved, and with this information, it would be a cake-walk.
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February 03, 2015, 01:54:36 PM
 #39708

Have you read this?

KNC facing a class action lawsuit:  
 Sad

I'm well known for my funny photos, but this is actually a real image from her website!



Watching that video, I'm not convinced she is up to the task. kfc are multi-millionaire ruthless crooks, who have made it a conflict of interest for any lawyer in Sweden to work against them. She'll be swallowed whole in 15 minutes.

The impression she left in the video is, hm, how to write it in a polite way...?

As a matter of facts, it doesn't really matter what lawyer you have in the US. All you need is one who can convince the DA that it is a RICO-case. And given some facts which are freely available, I don't think this will be so difficult. It would make sense if the community would dox a couple of the persons involved, and with this information, it would be a cake-walk.
They use RICO to prosecute for murder, kidnapping, arson etc. Not sure kfc are quite on the same level as the Gambino family Grin

What do you mean by doxing persons involved? All the directors of kfc are well known, with plenty TV interviews etc on record that identifies them. They even say in those interviews they sell to private individuals, which negates their t&c's completely about selling only to businesses. You can search for my older posts and find that interview Scam Hole did where he said they "sell to everyone". These facts are all freely available. I hope our intrepid traffic ticket lawyer is reading and already has that evidence in her files.

"I am not The Avenger"
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RealMalatesta
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February 03, 2015, 02:19:32 PM
 #39709

Have you read this?

KNC facing a class action lawsuit:  
 Sad

I'm well known for my funny photos, but this is actually a real image from her website!



Watching that video, I'm not convinced she is up to the task. kfc are multi-millionaire ruthless crooks, who have made it a conflict of interest for any lawyer in Sweden to work against them. She'll be swallowed whole in 15 minutes.

The impression she left in the video is, hm, how to write it in a polite way...?

As a matter of facts, it doesn't really matter what lawyer you have in the US. All you need is one who can convince the DA that it is a RICO-case. And given some facts which are freely available, I don't think this will be so difficult. It would make sense if the community would dox a couple of the persons involved, and with this information, it would be a cake-walk.
They use RICO to prosecute for murder, kidnapping, arson etc. Not sure kfc are quite on the same level as the Gambino family Grin

What do you mean by doxing persons involved? All the directors of kfc are well known, with plenty TV interviews etc on record that identifies them. They even say in those interviews they sell to private individuals, which negates their t&c's completely about selling only to businesses. You can search for my older posts and find that interview Scam Hole did where he said they "sell to everyone". These facts are all freely available. I hope our intrepid traffic ticket lawyer is reading and already has that evidence in her files.

No. RICO has been used in financially related crimes during the last 30 years - just look at the James Irwin-case. There are, however, a couple of goals which have to be met. But if you look at some of the persons invovled in the several companies - KnC, the VC-companies etc - I'm sure this can be accomplished.  Also: doxing the KnC-guys who are well known is one thing. But look at the persons who were employed. What did they do in the past? Were some of them involved in computer related crimes (some of them were - and it is up to KnC to prove that they did a proper DD.). Look at the VC-companies: Were some of them related in tax issues.... Look at the persons in these VCs: Were they involved in some shady financial operations? Yes, some of them were. It is not that the victims have to get all the evidence. They have to get only the evidence which shows a RICO-related behavior. Let's KnC spend their money for their defense. So every potential future investor will ask twice if he will spend money for KnC's lawyers instead of the technology.
The Avenger
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February 03, 2015, 03:06:17 PM
Last edit: February 03, 2015, 03:20:32 PM by The Avenger
 #39710

Have you read this?

KNC facing a class action lawsuit:  
 Sad

I'm well known for my funny photos, but this is actually a real image from her website!



Watching that video, I'm not convinced she is up to the task. kfc are multi-millionaire ruthless crooks, who have made it a conflict of interest for any lawyer in Sweden to work against them. She'll be swallowed whole in 15 minutes.

The impression she left in the video is, hm, how to write it in a polite way...?

As a matter of facts, it doesn't really matter what lawyer you have in the US. All you need is one who can convince the DA that it is a RICO-case. And given some facts which are freely available, I don't think this will be so difficult. It would make sense if the community would dox a couple of the persons involved, and with this information, it would be a cake-walk.
They use RICO to prosecute for murder, kidnapping, arson etc. Not sure kfc are quite on the same level as the Gambino family Grin

What do you mean by doxing persons involved? All the directors of kfc are well known, with plenty TV interviews etc on record that identifies them. They even say in those interviews they sell to private individuals, which negates their t&c's completely about selling only to businesses. You can search for my older posts and find that interview Scam Hole did where he said they "sell to everyone". These facts are all freely available. I hope our intrepid traffic ticket lawyer is reading and already has that evidence in her files.

No. RICO has been used in financially related crimes during the last 30 years - just look at the James Irwin-case. There are, however, a couple of goals which have to be met. But if you look at some of the persons invovled in the several companies - KnC, the VC-companies etc - I'm sure this can be accomplished.  Also: doxing the KnC-guys who are well known is one thing. But look at the persons who were employed. What did they do in the past? Were some of them involved in computer related crimes (some of them were - and it is up to KnC to prove that they did a proper DD.). Look at the VC-companies: Were some of them related in tax issues.... Look at the persons in these VCs: Were they involved in some shady financial operations? Yes, some of them were. It is not that the victims have to get all the evidence. They have to get only the evidence which shows a RICO-related behavior. Let's KnC spend their money for their defense. So every potential future investor will ask twice if he will spend money for KnC's lawyers instead of the technology.
Fair enough, I think you know more about the companies around and that invest in kfc than I do. But I'm not surprised that people who invested in a company that "prints money" to turn a quick profit and screws it own customers multiple times could potentually be shady.

The amount that has been invested, according to their latest press release, is incredible:
"Sam Cole, co-founder and CEO of KnCMiner, said: “We have invested more than $70M over the last 12 months into building a world-class bitcoin mining operation and plan to invest a further $150M over the next 18 months as we become one of the key transaction processors within Bitcoin. "

That's why it seems hopeless for a traffic ticket lawyer to go against a company with 100's of millions of dollars.

What really annoys me is that hardware vendors have fleeced the community, without some laywers also getting in on the action and fleecing even more money. When they probably know they can't win, but just want to collect fees. Let's hope Ms Lin proves me wrong and does have some solid info that can be used to invoke RICO action. I won't hold my breath, as she probably has a few dui's to deal with first.

Maybe I wasn't so wrong back in 2013 when I spoke about:

the Swedish bitcoin mafia
Cheesy

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retro72
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February 03, 2015, 05:51:09 PM
 #39711

Fair enough, I think you know more about the companies around and that invest in kfc than I do. But I'm not surprised that people who invested in a company that "prints money" to turn a quick profit and screws it own customers multiple times could potentually be shady.

The amount that has been invested, according to their latest press release, is incredible:
"Sam Cole, co-founder and CEO of KnCMiner, said: “We have invested more than $70M over the last 12 months into building a world-class bitcoin mining operation and plan to invest a further $150M over the next 18 months as we become one of the key transaction processors within Bitcoin. "

That's why it seems hopeless for a traffic ticket lawyer to go against a company with 100's of millions of dollars.

What really annoys me is that hardware vendors have fleeced the community, without some laywers also getting in on the action and fleecing even more money. When they probably know they can't win, but just want to collect fees. Let's hope Ms Lin proves me wrong and does have some solid info that can be used to invoke RICO action. I won't hold my breath, as she probably has a few dui's to deal with first.

I admit I wasn't impressed by Ms Lin's interview but don't write her off just yet. I doubt she'll be dealing with the Swedish end. I know she met up with Magnus Daar so he may be handling that (it all has to be filed in Swedish). I've got a suit filed with lawyers in Sweden and its moving along nicely. KNC don't have a gaggle of lawyers, they have one guy and he really doesn't seem to know what he's doing. I've read KNC's defence and quite frankly its a joke. I'd wager even Ms Lin could tear it apart. They are the most unprofessional outfit I've ever had to deal with, so unless they start throwing serious money at this soon I doubt Ms Lin will have a problem.

Any one with a bonus Neptune have anything to report? Any signs that they have been used/ex data centre stock?
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February 03, 2015, 05:52:49 PM
Last edit: February 03, 2015, 06:05:47 PM by Paid Piper
 #39712

 


wall-street-journal-blog


https://archive.today/BkpSn

The Avenger
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February 03, 2015, 06:31:40 PM
 #39713

they have one guy and he really doesn't seem to know what he's doing.
Ha ha, story of kfc's life Cheesy

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February 03, 2015, 10:02:21 PM
 #39714

Here is something sad. The top hasher at litecoinpool.org is making 93 ltc per day. This is less than $180 USD.
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February 03, 2015, 10:32:05 PM
 #39715




wall-street-journal-blog


https://archive.today/BkpSn





Mr. Kotting said. “I don’t see this as a case where they screwed a lot of people to build up their own business.”

What a fucking Asshole!
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February 03, 2015, 11:16:45 PM
 #39716

In 2013 KnCMiner got their start from people here on BCT who backed them with pre-orders. Not that I'm a fan of pre-orders (or KnCMiner), but just saying, we funded their startup.

Now we're completely left out of the loop, they haven't even offered their 16nm product to us! Not that I'm up for another pre-order, I'm waiting for a decent manufacturer like Spond or Bitmain to bring out their next-gen products as an in-stock order.

Run a Bitcoin node, support the network.
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February 03, 2015, 11:22:44 PM
 #39717

In 2013 KnCMiner got their start from people here on BCT who backed them with pre-orders. Not that I'm a fan of pre-orders (or KnCMiner), but just saying, we funded their startup.

Now we're completely left out of the loop, they haven't even offered their 16nm product to us! Not that I'm up for another pre-order, I'm waiting for a decent manufacturer like Spond or Bitmain to bring out their next-gen products as an in-stock order.

My guess: Nevertheless, people will still place their pre-orders in the future :bump:
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February 04, 2015, 04:45:33 AM
 #39718

In 2013 KnCMiner got their start from people here on BCT who backed them with pre-orders. Not that I'm a fan of pre-orders (or KnCMiner), but just saying, we funded their startup.

Now we're completely left out of the loop, they haven't even offered their 16nm product to us! Not that I'm up for another pre-order, I'm waiting for a decent manufacturer like Spond or Bitmain to bring out their next-gen products as an in-stock order.

My guess: Nevertheless, people will still place their pre-orders in the future :bump:


there was an article (see belo) whrere  the main thrust was KNC was out of the consumer miner business....they seem to want the perception
that they will be a consumer company w/o any of the issues involved in actually being a consumer friendly company....

so anyway with the knc announcement https://www.kncminer.com/news/news-124

looks like you will not have to worry about the 'temptation' of pre-orders (not that anyone is tempted anymore) in that it seems to be all data hall all the way
so no need to worry yourself about any 'further' KNC pre-orders (unless you got some big IPO money in the data hall ..waiting for your miner stuff ..heh
moving on to richer and more clueless 'marks' then ourselves...

(kinda explains why they suddenly started to release the bonus neptunes..they are gonna need the room don't ya know Smiley )

edit: here is one of the articles where they are spreading the hype

sept 5th 2014

http://insidebitcoins.com/news/kncminer-denies-abandoning-customers-though-admits-it-will-mine-for-its-own-benefit-possible-lawsuits-loom/25700


here is the other one

http://blogs.wsj.com/venturecapital/2014/09/05/for-kncminer-time-to-forget-selling-bitcoin-machines-to-at-home-miners/



above oct 25th 2014

and of course the one today (in previous posts) of 15 million dollars of further investment

I think I read someplace? that sam cole wants to have at least 40% of all the bitcoin mining to be from KNC.......sheesh...

(anyway moving on as soon as my knc titan hits doorstop status...www.coinbase.com is then my friend...I'm in to 'attic mining" in other
words the 5K of crap from 40yrs in my attic I should be selling on ebay and putting into BTC .....although boring to do don't ya know.... Smiley

anyway sam cole seems to be (at this time) having a fine time with life....(gets voodoo doll and pins) we will see......


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February 04, 2015, 04:40:48 PM
 #39719

These will always be King of Suck imho. Here's something to chew on - knowing how greedy Scam Hole really is, if KfC were making money hand over fist why would they need anyone else's money? They're obviously not making enough to sustain themselves and have found a much larger pool of fools to con.

I don't know if there will be any kind of justice served in the future after the long con runs out with these clowns. If you look at the other hardware groups that scammed us all silly not much justice got served there. Maybe there will be a reckoning one day long in the future, i dunno.

What saddens me most about the whole thing is the loss of innovation in this space now. That was the fun part and now it's been closed off to us. I keep looking at bitmain and sponds to do something groundbreaking and keep hoping there will be someone that takes this to a new innovative level, but I just don't see it.

I miss that excitement and the adventure that this whole thing spawned. I hope we see it again someday.
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February 04, 2015, 04:58:25 PM
 #39720

still wait
titan batch 2

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