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Author Topic: Swedish ASIC miner company kncminer.com  (Read 3006563 times)
McKinley
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February 02, 2015, 10:05:44 PM
 #39701

biggest lost is titan batch 2

they did not shipped yet
and maybe not shipped  Sad Sad Sad Sad Sad Sad Sad Sad Sad Sad Sad

True, i also ordered one Titan - at the beginning of June 2014 (!!!). Now is February 2015. The delivery time is like with Butterflylabs. Untrustworthy.
But while Butterflylabs didn't promise delivery times, KNC did. They wrote the batch 2, would be 1 month after batch 1.

So they are worse than Butterflylabs, cause they're also not keeping to their contract. This is a legal issue. Everyone not having received one Titan batch 2, within 1 month after batch 1 is eligible for legal action against KNC. Lawyers have easy play with contracts not being kept. With a contract there's not much arguing.

But i'm afraid it won't help, that the contract hasn't been kept. Since they invested big in mining, i think they had to take debts to finance them. And since the bitcoin prices fell those investments are worth to null. Now, if they order a new batch, and need to pay for it they would have to take more debs, and if the bank refuses, they can't.
When they run out of paying their employees salaries they will file for bankruptcy and say, they couldn't have seen it any earlier. If they do that, remember my post then.

All we will have from Titan batch #2 orders is a claim in the bankruptcy proceedings.
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McKinley
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February 02, 2015, 10:13:48 PM
 #39702

Is it time for Mini Titan Batch 2 customers to consider forming a class action lawsuit against KnCMiner? Batch 1 finished shipping last year. We are well beyond the advertised time frame for delivery of batch 2. Has KnCMiner engaged in deceptive advertising? 

As i recall, that promise was part of the product details in the store. Therefore it's part of the contract.
I don't recall an advertisment of the +1 month outside the store? Was there, too? - that would cement the case.
The Avenger
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February 02, 2015, 10:46:59 PM
 #39703

UPS just informed me of an unexpected 15.5 kg package coming from Sweden. I wonder what it could be?

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February 02, 2015, 10:48:15 PM
 #39704

Is it time for Mini Titan Batch 2 customers to consider forming a class action lawsuit against KnCMiner? Batch 1 finished shipping last year. We are well beyond the advertised time frame for delivery of batch 2. Has KnCMiner engaged in deceptive advertising? 

As i recall, that promise was part of the product details in the store. Therefore it's part of the contract.
I don't recall an advertisment of the +1 month outside the store? Was there, too? - that would cement the case.

There have been many breaches of contract, and I've no doubt that if you got to court you would win.

KNC however rely on the fact that it is very hard for most people to do this, so they will deny everything and hide behind un-enforceable contract terms to make it as difficult as possible and string the matter out.

Many people paid out $1500 to some swedish solicitor about 4 months ago and nothing has been heard since, the wheels of justice turn slow and they are very expensive.

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February 02, 2015, 10:54:30 PM
 #39705

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
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February 03, 2015, 02:11:51 AM
 #39706

UPS just informed me of an unexpected 15.5 kg package coming from Sweden. I wonder what it could be?

4 cubes that wont connect to controller Wink

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February 03, 2015, 02:44:39 AM
 #39707

If I were in the US, I would do some research about their investors. You could make a RICO case out of this and thus go after US-based investors. This would make things easier and quicker instead of trying to fight them on their ground.

edit: Just looked up some facts about GP Bullhound. Gee, I'm almost sad that KnC refunded me. Such a lawsuit would be fun!
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February 03, 2015, 05:46:23 AM
 #39708

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
 #39709

Yeah, I used to be pretty bullish about LTC.. No longer. I really think it's future is sub 50 cents.
dogjunior
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February 03, 2015, 07:00:27 AM
 #39710

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
 #39711

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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February 03, 2015, 01:05:55 PM
 #39712

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
 #39713

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.

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RealMalatesta
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February 03, 2015, 01:40:10 PM
 #39714

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
 #39715

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.

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February 03, 2015, 02:19:32 PM
 #39716

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
 #39717

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
 #39718

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
 #39719

 


wall-street-journal-blog


https://archive.today/BkpSn

The Avenger
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February 03, 2015, 06:31:40 PM
 #39720

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

"I am not The Avenger"
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