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Author Topic: Swedish ASIC miner company kncminer.com  (Read 3039471 times)
retro72
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February 07, 2015, 05:22:12 PM
 #39741

So I'm happy for btc to remain low all year, just so these VC guys implement their "exit strategy" and take kfc to the cleaners Tongue
I'd second that.

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samsonn25
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February 07, 2015, 05:53:38 PM
 #39742

So why are VC's investing $15million in a company they could asset strip for only $1 - $2 million?

I'm guessing that KNC had to raise new capital to finance Solar tape-out and manufacturing. This means that they weren't able to retain enough earnings from past activities to self fund the new generation of hardware (hence all the operational problems we've witnessed this last year). They may have really just sold a call option on their future bitcoin production, which leaves them (and their investors) seriously exposed to a further decline in BTC prices over the next 18 months. In any case, they don't act like a successful company that is flush with cash.

Is it time to fork BTC to switch to X11 yet ? Will DRK gain serious mindshare ? Join us next week for more conjecture on the jiving, conniving, thieving, scamming quasi-criminal wild west world of crypto currencies ...

I like the fork idea.  Would stab them right  in the  heart lol
jelin1984
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February 07, 2015, 06:02:34 PM
 #39743

still wait titan batch 2

we had sent money
knc

what happen?HuhHuhHuhHuh

you closed?HuhHuhHuhHuh?

The Avenger
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February 07, 2015, 06:21:01 PM
 #39744

Currently KnC has about 30+ million assets. New investor group, came in to replace and exit out previous investors at strict terms. As I said in past, bonus Neptunes will be used miners from their DC to make room for new chips and better hardware.
We know the routine of them shipping used equipment when they have new tech to put in the datorhall, that's what the Frankenjups were.

What are the 30+ million assets proudpak??

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Fatman3001
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February 07, 2015, 07:00:58 PM
 #39745

After the frankly underwhelming performance of the 20nm chip, (and in retrospect the 28nm chip given how much better everyone else's are) I wouldn't invest $1 let alone millions in the 16nm.

There's a reason why just about nobody else other than phone manufacturers took the dive into 20nm. But KnC should have gotten more out of those chips. It seems like they are compensating for their lack of experience and proprietary solutions to problems with sha256 asics by paying for more energy efficient processes (20nm, 16nm). They should definitely get a lot more with 16nm FinFet, but I would be surprised if them manage to get the stated 0,07w/GH. Cointerra was expecting 2w/GH, unless KnC have bought some new technology we don't know of I think 0,07w/GH was just to scare other, already battle-worn, mining gear manufacturers.

"I predict the Internet will soon go spectacularly supernova and in 1996 catastrophically collapse." - Robert Metcalfe, 1995
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February 08, 2015, 01:13:23 AM
Last edit: February 08, 2015, 03:37:16 AM by proudpak
 #39746

Currently KnC has about 30+ million assets. New investor group, came in to replace and exit out previous investors at strict terms. As I said in past, bonus Neptunes will be used miners from their DC to make room for new chips and better hardware.
We know the routine of them shipping used equipment when they have new tech to put in the datorhall, that's what the Frankenjups were.

What are the 30+ million assets proudpak??

I can only assume its mostly bitcoin, cash and mining hardware. But 30+mil is confirm, good for those who are suing them.
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February 08, 2015, 08:16:11 AM
 #39747

still wait titan batch 2

we had sent money
knc

what happen?HuhHuhHuhHuh

you closed?HuhHuhHuhHuh?

Join the lawsuit.  Cheesy
dropt
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February 08, 2015, 08:32:44 AM
 #39748

Currently KnC has about 30+ million assets. New investor group, came in to replace and exit out previous investors at strict terms. As I said in past, bonus Neptunes will be used miners from their DC to make room for new chips and better hardware.
We know the routine of them shipping used equipment when they have new tech to put in the datorhall, that's what the Frankenjups were.

What are the 30+ million assets proudpak??

I can only assume its mostly bitcoin, cash and mining hardware. But 30+mil is confirm, good for those who are suing them.

They have their IP for 28nm, 20nm, and now 16nm.  They also have the masksets for the 28nm and 20nm.
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February 08, 2015, 01:29:50 PM
 #39749

still wait titan batch 2

we had sent money
knc

what happen?HuhHuhHuhHuh

you closed?HuhHuhHuhHuh?

Join the lawsuit.  Cheesy

1500 bucks to join the lawsuit from what i've heard and the price can go up if KNC appeals (which they will) .they will fight this till the 'heat death of the universe"

I applaud those who are doing the above...me....no $$$ all went out the window to the knc Titan at least at this point in time (still holding what i've accumlated)

so it goes


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mishax1
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February 08, 2015, 01:54:13 PM
 #39750

still wait titan batch 2

we had sent money
knc

what happen?HuhHuhHuhHuh

you closed?HuhHuhHuhHuh?

Join the lawsuit.  Cheesy

1500 bucks to join the lawsuit from what i've heard and the price can go up if KNC appeals (which they will) .they will fight this till the 'heat death of the universe"

I applaud those who are doing the above...me....no $$$ all went out the window to the knc Titan at least at this point in time (still holding what i've accumlated)

so it goes

1500$ is only 12% of the price of the titan (after customs payments).. so it was an easy decision for me to join..


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February 09, 2015, 07:58:57 AM
Last edit: March 04, 2015, 09:49:32 AM by -ck
 #39751

1500$ is only 12% of the price of the titan (after customs payments).. so it was an easy decision for me to join..


but from what I understand (tell me if i am incorrect) in swedish courts the LOSER PAYS the court costs...so if they lose and/or have other fees you will be contacted again
for more $$$ for the lawsuit..in that imho if knc made 2.5k of Titans say that is 25 million dollars they can simply appeal and run the bill up till it makes no sense to cointinue
to push the court cases...thus why class actions are setup a different way in the states..if you got cash you can just bleed the whole thing dead with appeals and having
more money to end the cases against you (knc's strategy imho)

(again tell me that 1.5k is the full price I may re-consider but that is my understanding ...each case is submitted 1 at a time ....separate to the swedish courts...so you'd be
responsible for any over costs/charges ie the lawyer's make $$$ win/lose or draw..thus your $$$ to stay involved and not lose the 1.5k depends on how much $$$ you may have
to pay in the future as it drags on.

again this is from my muddled understanding ..clarification please...(and if this does not sound right by all means double check with the folk you already paid 1.5k to)

again this is what I heard thus my reluctance up to this point to jump in to the lawsuit (that and little cash) on such a swedish lawsuit

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mishax1
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February 09, 2015, 08:09:12 AM
Last edit: March 04, 2015, 09:49:43 AM by -ck
 #39752

but from what I understand (tell me if i am incorrect) in swedish courts the LOSER PAYS the court costs...so if they lose and/or have other fees you will be contacted again
for more $$$ for the lawsuit..in that imho if knc made 2.5k of Titans say that is 25 million dollars they can simply appeal and run the bill up till it makes no sense to cointinue
to push the court cases...thus why class actions are setup a different way in the states..if you got cash you can just bleed the whole thing dead with appeals and having
more money to end the cases against you (knc's strategy imho)

(again tell me that 1.5k is the full price I may re-consider but that is my understanding ...each case is submitted 1 at a time ....separate to the swedish courts...so you'd be
responsible for any over costs/charges ie the lawyer's make $$$ win/lose or draw..thus your $$$ to stay involved and not lose the 1.5k depends on how much $$$ you may have
to pay in the future as it drags on.

again this is from my muddled understanding ..clarification please...(and if this does not sound right by all means double check with the folk you already paid 1.5k to)

again this is what I heard thus my reluctance up to this point to jump in to the lawsuit (that and little cash) on such a swedish lawsuit


I didn't say go solo, I meant to the class-action lawsuit - http://blogs.wsj.com/venturecapital/2015/02/03/bitcoin-mining-company-kncminer-gets-15-million-amid-lawsuits/
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February 09, 2015, 08:20:06 AM
Last edit: March 04, 2015, 09:49:52 AM by -ck
 #39753


again from what i understand there is no 'class action' in sweden like the usa...if the price goes up on appeals etc you have to pay more into it and if you lose you pay the other guys court costs...again probably I am incorrect but what I was told when I looked into this...again from what I understand there is a class action lawsuit in usa but it is going thru the swedish guy in sweden....and again from what i understand their is no class action as such in sweden...so perhaps this is a complete usa class action...but it is all pretty murky when I asked about that at least a couple months ago

anyway you are likely correct but some clarification on 'further costs' and or liablity if you lose the case would be helpful to find out if you have 1.5k into this

please post if I am completely off the mark...stuff I was told a few months back when I looked into this ...again I was of the understanding it ALL has to go swedish courts to get a settlement

Try out www.synchro.net An 'Old School' BBS (Bulletin Board System) works on Win /10/8/7 and Linux!
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February 09, 2015, 08:43:19 AM
Last edit: March 04, 2015, 09:50:02 AM by -ck
 #39754

again from what i understand there is no 'class action' in sweden like the usa...if the price goes up on appeals etc you have to pay more into it and if you lose you pay the other guys court costs...again probably I am incorrect but what I was told when I looked into this...again from what I understand there is a class action lawsuit in usa but it is going thru the swedish guy in sweden....and again from what i understand their is no class action as such in sweden...so perhaps this is a complete usa class action...but it is all pretty murky when I asked about that at least a couple months ago

anyway you are likely correct but some clarification on 'further costs' and or liablity if you lose the case would be helpful to find out if you have 1.5k into this

please post if I am completely off the mark...stuff I was told a few months back when I looked into this ...again I was of the understanding it ALL has to go swedish courts to get a settlement

All costs will be divided proportionally, so in any case it shouldn't be that big of an amount.
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February 09, 2015, 09:13:45 AM
Last edit: March 04, 2015, 09:50:15 AM by -ck
 #39755

All costs will be divided proportionally, so in any case it shouldn't be that big of an amount.

i contacted the usa version of the lawsuit supposedly she is in contact with her swedish counterpart with his 'group action' as he calls it ...I fllled out the form we will see
but again 2.5k Titan 1st batch and 2.5k from what I heard 2nd 3rd batch (and those few who for a brief time changed their bonus neputunes to a titan option)  that is 50 million
dollars..again imho KNC will simply appeal for 10 years plus is my fear in that it is much cheaper then settling..I will consider it ...on what I get for a reply..but it does not take
a lot of thought to see KNC will fight this tooth and nail as to NOT put in danger all that lovely IPO money for the data farm in excess of 20 million bucks (or the next scam of
honest we will get the data farm out by such and such don't worry....or our situation but with people with bigger bucks game)....anyway will put what i find out here sent here
a bunch of info...pretty sure she knows most of it ...if she knows little of what is going on (see bitcointalk forum) and such that also will tell me much if this is just a way to make
the lawyers $$$$ or if there is any kind of shot

bitcoin never a dull moment


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February 09, 2015, 09:29:00 AM
Last edit: March 04, 2015, 09:50:33 AM by -ck
 #39756

i contacted the usa version of the lawsuit supposedly she is in contact with her swedish counterpart with his 'group action' as he calls it ...I fllled out the form we will see
but again 2.5k Titan 1st batch and 2.5k from what I heard 2nd 3rd batch (and those few who for a brief time changed their bonus neputunes to a titan option)  that is 50 million
dollars..again imho KNC will simply appeal for 10 years plus is my fear in that it is much cheaper then settling..I will consider it ...on what I get for a reply..but it does not take
a lot of thought to see KNC will fight this tooth and nail as to NOT put in danger all that lovely IPO money for the data farm in excess of 20 million bucks (or the next scam of
honest we will get the data farm out by such and such don't worry....or our situation but with people with bigger bucks game)....anyway will put what i find out here sent here
a bunch of info...pretty sure she knows most of it ...if she knows little of what is going on (see bitcointalk forum) and such that also will tell me much if this is just a way to make
the lawyers $$$$ or if there is any kind of shot

bitcoin never a dull moment



Who said it's about all 5000 titans ?  I don't know if you can call it a class action (the WSJ did, but I think they got it wrong..)..

"said he filed a class-action lawsuit on behalf of a group of 50 customers"  I don't think it's right to say class action when it comes to 50 customers.. A class action is usually on behalf of all 100% customers as far as I know..
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February 09, 2015, 09:35:13 AM
Last edit: March 04, 2015, 09:50:43 AM by -ck
 #39757

Who said it's about all 5000 titans ?  I don't know if you can call it a class action (the WSJ did, but I think they got it wrong..)..

"said he filed a class-action lawsuit on behalf of a group of 50 customers"  I don't think it's right to say class action when it comes to 50 customers.. A class action is usually on behalf of all 100% customers as far as I know..


yeah thus my questions to them...a class action you pay a set fee.....and no penalties if you lose....indv suits you pay as you go...so if a corp has more money they just appeal up
ward and onward till you are out of $$...so is this a class action or just a group action supposedly they will reply to these questions i posed to them if not i guess that tells me something as well...

imho if  a class action by 50 is WON then the others can jump in the pool after the fact as well (and or be included) but again i asked a few of these questions we will see what they say so far from what i understand they are in 'discovery /investigate mode" so hell it may not even go anywhere with that in mind

lawyers...shudder!


Try out www.synchro.net An 'Old School' BBS (Bulletin Board System) works on Win /10/8/7 and Linux!
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mwizard
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February 09, 2015, 11:50:28 PM
 #39758


There's a reason why just about nobody else other than phone manufacturers took the dive into 20nm. But KnC should have gotten more out of those chips. It seems like they are compensating for their lack of experience and proprietary solutions to problems with sha256 asics by paying for more energy efficient processes (20nm, 16nm). They should definitely get a lot more with 16nm FinFet, but I would be surprised if them manage to get the stated 0,07w/GH. Cointerra was expecting 2w/GH, unless KnC have bought some new technology we don't know of I think 0,07w/GH was just to scare other, already battle-worn, mining gear manufacturers.

Just for the record Cointerra was expecting 0.225 watt per GH/s on their Shiva 16nm chip, not 2W/GH.

http://cointerra.com/wp-content/uploads/2014/09/AIRE-Miner-Sales-Sheet.pdf


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February 10, 2015, 12:05:38 AM
 #39759

Just for the record Cointerra was expecting 0.225 watt per GH/s on their Shiva 16nm chip, not 2W/GH.

http://cointerra.com/wp-content/uploads/2014/09/AIRE-Miner-Sales-Sheet.pdf

CoinTerra is in bankruptcy so they aren't expecting anything. Even if they were expecting that is a very bad efficiency in order to worth the 16nm mask. 0.2W/GH can be easily achieved with a 28nm chip.

H/w Hosting Directory & Reputation - https://bitcointalk.org/index.php?topic=622998.0
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February 10, 2015, 02:03:42 PM
 #39760

There are currently two law firms suing KNC on behalf of customers. One is going as group lawsuit, and other is going individual. There is Pro and Cons for both, and about 80 people have filed against them. I am not sure if any new cases are taken by them (might be possible if you go solo), since both law firms have submitted their case to court and awaiting court hearing date. If they are able to get court decide all customers are consumers not businesses. It will be over soon. KnC would appeal but they can't appeal for next 10 years or so.
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