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Author Topic: Swedish ASIC miner company kncminer.com  (Read 3008335 times)
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April 23, 2015, 09:26:09 AM
 #40341

If they are in jail will be hardly continue to exist as a company.
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April 23, 2015, 10:34:56 AM
 #40342

After being frustrated with my Corsair AX1200i PSUs which kept shutting down randomly, I went out and bought an EVGA SuperNOVA Platinum 1600W.

Nice PSU: it can power three Neptune modules with plenty of juice to spare.

Today I noticed a burning smell (!), and immediately ran downstairs to my garage and switched off my Neppy (still haven't had time to get my bonus Neppy running yet). I'm gutted, two of my five modules have the bottom three pins burned out of the power connector. It also destroyed two of my PCIe 2-to-1 cables (luckily I have spares). Both of the burnt modules were powered by the EVGA, which claims to have Over Current Protection, but it obviously didn't kick in. Now I have more respect for my AX1200is, I was at my wits end with them, but all along they were just protecting the modules by cutting off with OCP (I didn't know that at the time, I just thought they were "dying"). This has only started in the last month or so, prior to that the Neppy ran like a trooper with no issues.

I have replaced those two burnt modules with bonus modules, and they seem to be working fine. However, the DC/DC avg temp on the bonus modules is about 10C higher than the original modules.

I was running all modules at 475MHz, and have been since July 2014. Now that I've suffered the loss of two modules, I have taken the precaution of down-clocking the original modules to 450MHz, and the bonus modules to 425MHz as their cooling isn't working as well as the originals. After doing this, the Neppy is still hashing at about 3TH/s, which I'm fairly happy with.

I'm not happy with two modules with burnt power connectors and one bonus module which was DOA due to a popped rivet on the bottom (it's on my to-do list to inquire about RMAing that bonus module).

As for the two modules with burnt power connectors, can I assume that the ASICs are still ok? Has anyone tried repairing a burnt power connector, and had success in reviving the module?

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April 23, 2015, 11:26:46 AM
 #40343

A group of about twenty different customers, and some former KnCMiner employees, have started a Twitter account to help preserve evidence of the KnCMiner fraud.

If you DM, we can also provide help with referrals to lawyers in both Sweden and the USA for help in recovering money stolen by KnC.

Thank you

twitter.com/knc_law

Samuel


there is no knc miner fraud. , only dumb users who expected to much. Smiley
an asked money back ,,, and got it back in BTC witch IS legal by sewdish law,
KNC Delivred evrything in the end and the ROI must be seen in BTC.
because only  the coversion rate @ time of transaction does matter!
that the BTC price fell can not be blamed on KNC.





In the USA if you pay in USD you MUST get your refund in USD.... I assume it is the same for the Eu...so no that is not legal even if you accept
we are a business and you are a business method of transaction (I know this because american express card gave me a refund on my 30% down
on my alpha-t.net scrypt miner that never shipped..on that aspect alone.....you pay in usd you get paid back in usd ..how i won the case /dispute

Nope ,,, bitpay is located in Europe! Amsterdam to be preceice!
Knc is sweden so iets europe ,, alphe-t offerd a calender based payout in bitisch pounds...
Like if you ask refund at day X then you get 80 % day Y 50% erc,,, then they can NOT use the BTC price because BTC is not money!
In case of KNC ,, they just offer refund of the TRANSACTION ,,, this means they pay back the trade!

 
http://blog.bitpay.com/2014/09/07/bitpay-s-new-amsterdam-headquarters.html


not so in usa law..and we paid in usd so the refund is in usd...as to bitcoin yeah you pay bitcoin they probably can just send you bitcoin

alpha had an offer to make folk go away by only paying part back ...on a pre-order....instead of usd they were gonna give you 'stock' in
the company for the rest.....should have been more clear...

as again to knc you paid in usd you should get refunded in usd as to bitpay and bitcon that is probably correct

but again your point was knc is lawful on all its transactions ..my post was to point out some of the points where others differ and will be
found one way or another in a court of law ...3x that is...there are 3 different class actions (not counting the future one with the IPO's in
my opinion on their lackluster return on 'cloud mining' per say

the legal cases will determine such....but knc does not care because they decided to burn the customers because they will have no customers
in the future on any product just 16nm equip for them privately with their IPO money........

anyway my view i'm sure will be born out by the courts...if they say knc is in the clear i'll accept that ..hey its the law...i suspect if knc loses
big time which is my expectation and settles or what not...you probably post on here and troll how it was a 'miscarrige of justice"

got to admit taking the contrary view of the troll on this thread probably works really really good for all them negative vibe cooties you enjoy so well

anyway that is how i see it ....they are gonna lose and admidtly pay a fine/ settle the class actions with a NDA for an undisclosed amount ...and
after they pay off the lawyers and the class action and the fines etc..they will be way way way ahead of actually doing the expensive right thing
for their customers only...if they sold 2.5k of titans say that is 25 million bucks at 10k a titan ..so hey all batches figure at least imho 15 million bucks
or say 10 million clear profit...all the above fines/settlements/lawyers etc is a couple million tops....so yeah .....they will lose and still smell like roses
is my guess




Well Bitpay is located Iin AMSTERDAM , to avoid us law.
KNC used chineese asamblers , that then send the boxes to the custumers.
I asked them , but only replacement was done localy , so if you got a new package it was send from china,
I have seen this with my phone too they use swiss for this trick , swiss has a free trade agreement with china AND europe.
so what the do is send it form china to swiss.
there they repakage it and then send it in to you in europe!
Good chance KNC never saw the miner send to them.
What can be the case is that KNC used a chineese carrier to send the us pakages , if that one fucked up can you blame KNC? ,, so A nice one for you guys is to find out if you al come from a certain continent?
The reason that iam sceptical about effectively suing is that I come form a lawyer family and know the tricks used.
so make sure you sue the right compony,
and that can be the cheneese assabler instead of KNC.
For bringing stuff to late... , well its bitcoin , it is a gamble don't think you get far because you cant predict the price 12 moths from now.




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April 23, 2015, 12:28:37 PM
 #40344

After being frustrated with my Corsair AX1200i PSUs which kept shutting down randomly, I went out and bought an EVGA SuperNOVA Platinum 1600W.

Nice PSU: it can power three Neptune modules with plenty of juice to spare.

Today I noticed a burning smell (!), and immediately ran downstairs to my garage and switched off my Neppy (still haven't had time to get my bonus Neppy running yet). I'm gutted, two of my five modules have the bottom three pins burned out of the power connector. It also destroyed two of my PCIe 2-to-1 cables (luckily I have spares). Both of the burnt modules were powered by the EVGA, which claims to have Over Current Protection, but it obviously didn't kick in. Now I have more respect for my AX1200is, I was at my wits end with them, but all along they were just protecting the modules by cutting off with OCP (I didn't know that at the time, I just thought they were "dying"). This has only started in the last month or so, prior to that the Neppy ran like a trooper with no issues.

I have replaced those two burnt modules with bonus modules, and they seem to be working fine. However, the DC/DC avg temp on the bonus modules is about 10C higher than the original modules.

I was running all modules at 475MHz, and have been since July 2014. Now that I've suffered the loss of two modules, I have taken the precaution of down-clocking the original modules to 450MHz, and the bonus modules to 425MHz as their cooling isn't working as well as the originals. After doing this, the Neppy is still hashing at about 3TH/s, which I'm fairly happy with.

I'm not happy with two modules with burnt power connectors and one bonus module which was DOA due to a popped rivet on the bottom (it's on my to-do list to inquire about RMAing that bonus module).

As for the two modules with burnt power connectors, can I assume that the ASICs are still ok? Has anyone tried repairing a burnt power connector, and had success in reviving the module?


I'm surprised about the 1200i. Ive been running my bonus neptune on 2 x EVGA G2 1000w units with no issues. Interested in selling the 1200i?
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April 23, 2015, 01:53:59 PM
 #40345

If you have been screwed by KnC, there are at least three law firms you can contact.

Read and see if any of these issues apply to you below.

Each are easily found on Google, as well have a new site:  KNCCLASSACTION.COM

Sweden:

(1) Joakim Strignert
(2) Magnus Daar

USA:

Charlotte Lin


ATTENTION ALL KNCMINER CUSTOMERS:
MAGNUS DAAR OF ADVOKATFIRMAN RISE & CO AB, JOAKIM STRIGNERT OF JURISTFIRMA DIN RÄTT, AND LAW OFFICE OF CHARLOTTE C. LIN ANNOUNCES AN INTERNATIONAL EFFORT TO PURSUE A JOINT GLOBAL CLASS ACTION AGAINST KNCMINERS.
If you purchased KnCMiner product including Titan, Titan Mini, Neptune, Jupiter, or Cloud Mining, while you were residing in any country, you may be eligible to file a claim against KnCMiner.

The class action alleges that KnCMiner sold defective and underperforming miners, materially breached contracts, and knowingly used deceptive marketing tactics to sell their KnCMiner products. KnCMiner denies it did anything wrong, and fraudulently withheld refunds on products that they knew they could provide, or withheld refunds illegally in violation of Swedish law. This class action is to bring KnCMiner in front of Swedish court to answer to consumer’s grievances across the globe.

If you fall within these groups, you may have a claim against KnCMiner.

Your Titan Batch 1 was shipped late.

Your Titan Batch 1 was defective.

You never received your Titan Batch 1.

Your Titan Batch 2 was shipped late.

Your Titan Batch 2 was defective.

You never received your Titan Batch 2.

Your Neptune was shipped late.

You never received your Neptune.

Your Neptune was defective.

You were promised cloud mining in consideration of giving up something (right to ask for refund, right to 2-for-1 miner, etc).

You were promised a “bonus miner” in consideration of giving up something (right to ask for refund, etc).

You were shipped a miner that was obviously used.

Your Titan Mini was shipped late.

You never received your Titan Mini.

Your Titan Mini was defective.

You asked for a refund before your miner shipped, and was denied a refund.

IF YOU FALL WITHIN ONE OF THESE GROUPS, FILL OUT AN ONLINE CLAIMS FORM.

Thank you, sir.

From http://kncclassaction.com/faq/ :

Quote
Will I get my retainer back? - short answer is you will, but from KNC

The retainer is non-refundable to our firm, however, you will be awarded your legal costs against KNC when you win, per swedish laws.

For example:

You bought a titan for $10,131.80. Paid $1,519.77 in legal costs (the retainer). You were awarded $12,000 in damages plus the $1,519.77 you paid in legal costs. You will then be able to recuperate your legal costs back from KnC.

Any legal experts here who specifically think this is viable / not viable?

Edit:

There's no claims form on their site, and their contact email is down:

Quote
This is an automatically generated Delivery Status Notification.
Delivery to the following recipients failed.
info@kncclassaction.com

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April 23, 2015, 01:56:55 PM
 #40346

......The reason that iam sceptical about effectively suing is that I come form a lawyer family and know the tricks used.

Reading, writing and basic common sense must have skipped a generation  Roll Eyes
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April 23, 2015, 01:59:31 PM
 #40347

Will I get my retainer back? - short answer is you will, but from KNC

The retainer is non-refundable to our firm, however, you will be awarded your legal costs against KNC when you win, per swedish laws.

For example:

You bought a titan for $10,131.80. Paid $1,519.77 in legal costs (the retainer). You were awarded $12,000 in damages plus the $1,519.77 you paid in legal costs. You will then be able to recuperate your legal costs back from KnC.

Any legal experts here who specifically think this is viable / not viable?


Yes, that's the way it works.
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April 23, 2015, 02:01:39 PM
 #40348

Will I get my retainer back? - short answer is you will, but from KNC

The retainer is non-refundable to our firm, however, you will be awarded your legal costs against KNC when you win, per swedish laws.

For example:

You bought a titan for $10,131.80. Paid $1,519.77 in legal costs (the retainer). You were awarded $12,000 in damages plus the $1,519.77 you paid in legal costs. You will then be able to recuperate your legal costs back from KnC.

Any legal experts here who specifically think this is viable / not viable?


Yes, that's the way it works.

I mean the whole class action suit -- as in, is there a high likelihood that it could succeed? (if not, the retainer money is lost, and KNC will have fucked us even more)

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April 23, 2015, 02:34:54 PM
 #40349

Guys, regarding the neptune. cgminer 4.9.1 VS bfgminer 5.0, any advantages to one or the other? I imagine bfgminer supports #xnsub for pools like nicehash while cgminer doesn't? Anything else?

What do you neptune owners prefer to run?

I use cgminer on both 1st and bones neptune Smiley



Mining around Ghash.


for thoose who asked  me here my temps of bones miner.



and





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April 23, 2015, 02:36:49 PM
 #40350

I mean the whole class action suit -- as in, is there a high likelihood that it could succeed? (if not, the retainer money is lost, and KNC will have fucked us even more)

I was one of the first to take legal action against KNC re Titans, so you may want to take my opinions with a pinch of salt. But I've seen KNCs legal defence and its pretty weak in my view and quite frankly dishonest. I can't believe even a kangaroo court wouldn't find against KNC for some of the stunts they've pulled. But you'll have to use your own judgement. Talk to Magnus or Joakim, see what you think.

Personally, having read all the arguments I don't think KNC have a leg to stand on and are clutching at straws. I think they are trying to drag this out, hoping most people will give up so they can settle the minimum amount of cases. That's just my opinion, you'll have to come to your own conclusions.
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April 23, 2015, 03:07:09 PM
 #40351

if not, the retainer money is lost, and KNC will have fucked us even more

THIS is the reason, why I'm scared to join. I lost because of those swedish retards thousands of dollars and I'm somehow living with it but...if court will be unsuccessful for any reason I will lost even more..Is there any assumption about success court from somebody, who is familiar with law?

good luck with those fuckers anyway.
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April 23, 2015, 04:19:54 PM
 #40352

if not, the retainer money is lost, and KNC will have fucked us even more

THIS is the reason, why I'm scared to join. I lost because of those swedish retards thousands of dollars and I'm somehow living with it but...if court will be unsuccessful for any reason I will lost even more..Is there any assumption about success court from somebody, who is familiar with law?

good luck with those fuckers anyway.

Its very impotant that you got the right party to sue ,,, if KNC for example used a chineese compony to assamble the miners and send to the US.
changes are that you want to sue that chineese compony if you can , and if KNC for example sue the same chineese compony because they also blame them then chances are not looking good , for people since knc exported the control of assambling miners to China.
For example if KNC only gave blueprints of a miner to manifacture , and notting is made in sweden , KNC will be the wrong party since all happend in China.
the same way its works with apple and foxconn , apple is NOT respoinsible for killings in  assamblage , the only thing they have to is replace faulty i-phones.
 



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retro72
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April 23, 2015, 06:08:08 PM
 #40353

if not, the retainer money is lost, and KNC will have fucked us even more

THIS is the reason, why I'm scared to join. I lost because of those swedish retards thousands of dollars and I'm somehow living with it but...if court will be unsuccessful for any reason I will lost even more..Is there any assumption about success court from somebody, who is familiar with law?

good luck with those fuckers anyway.

Its very impotant that you got the right party to sue ,,, if KNC for example used a chineese compony to assamble the miners and send to the US.
changes are that you want to sue that chineese compony if you can , and if KNC for example sue the same chineese compony because they also blame them then chances are not looking good , for people since knc exported the control of assambling miners to China.
For example if KNC only gave blueprints of a miner to manifacture , and notting is made in sweden , KNC will be the wrong party since all happend in China.
the same way its works with apple and foxconn , apple is NOT respoinsible for killings in  assamblage , the only thing they have to is replace faulty i-phones.
 

This is not how the law works you buffoon. You're making yourself look even more of a horses ass than normal spewing this nonsense. If I buy an iphone from Apple and it blows up in my hand I SUE APPLE NOT FOXCONN YOU IDIOT!! If Apple choose to sue Foxconn to reclaim any damages, that is up to them, but the legal responsibility is on Apple to make sure their products are fit for purpose before selling them,no matter where they are made.

The same goes for KNC. I can see why you didn't go into the family business  Roll Eyes Maybe you should ask your "lawyer family" for some free advice before running your mouth off. You might look like less of a fool.
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April 23, 2015, 06:10:13 PM
 #40354



I emailed Magnus Daar yesterday. Hopefully I'll get a response on monday. Perhaps he doing a lot of knc cases. But one of them are this where knc emailed and said that they couldn't deliver the Titan because of "technical issues in the selection process".
That's about the bonus miner were people choose a Titan instead of a Neptune.

As I said, I haven't talked to him yet. But I heard from another one that if there are more then 20 people in this case. The lawyer will take the cost's in the trial, if there will be one.

I held off contacting the lawyer, i wanted to give it one week to see if KNC was seriously only going to refund 1/3 of the price paid. They notified me today they have decided to refund the full USD value paid for the mini Titans.

The email stated they are refunding all batch 2 mini Titan customers in full, so they are stepping up to the plate and doing the right thing for those of us who had our batch 2 mini Titan order cancelled. No word on when the refunds will be processed, but knowing they aren't waiting for the price of Bitcoin to drop to save money on the refund makes waiting on a refund much much less stressful.

edit: just reread your post varchar, my order wasn't a bonus miner it was a standard order for the mini Titan.  I quoted you since you responded to me earlier in the thread. If you were waiting on a bonus Titan I don't know anything about how that's going to be handled. If you ordered a mini Titan and it was cancelled they are issuing full refunds.

retro72
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April 23, 2015, 07:18:15 PM
 #40355

I held off contacting the lawyer, i wanted to give it one week to see if KNC was seriously only going to refund 1/3 of the price paid. They notified me today they have decided to refund the full USD value paid for the mini Titans.

The email stated they are refunding all batch 2 mini Titan customers in full, so they are stepping up to the plate and doing the right thing for those of us who had our batch 2 mini Titan order cancelled. No word on when the refunds will be processed, but knowing they aren't waiting for the price of Bitcoin to drop to save money on the refund makes waiting on a refund much much less stressful.

edit: just reread your post varchar, my order wasn't a bonus miner it was a standard order for the mini Titan.  I quoted you since you responded to me earlier in the thread. If you were waiting on a bonus Titan I don't know anything about how that's going to be handled. If you ordered a mini Titan and it was cancelled they are issuing full refunds.

Well that's some good news at least.

Can you post the email? Can anyone else confirm this? Not that I doubt you, I just want to make sure you're not an isolated case.
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April 23, 2015, 10:39:45 PM
 #40356

if not, the retainer money is lost, and KNC will have fucked us even more

THIS is the reason, why I'm scared to join. I lost because of those swedish retards thousands of dollars and I'm somehow living with it but...if court will be unsuccessful for any reason I will lost even more..Is there any assumption about success court from somebody, who is familiar with law?

good luck with those fuckers anyway.

Its very impotant that you got the right party to sue ,,, if KNC for example used a chineese compony to assamble the miners and send to the US.
changes are that you want to sue that chineese compony if you can , and if KNC for example sue the same chineese compony because they also blame them then chances are not looking good , for people since knc exported the control of assambling miners to China.
For example if KNC only gave blueprints of a miner to manifacture , and notting is made in sweden , KNC will be the wrong party since all happend in China.
the same way its works with apple and foxconn , apple is NOT respoinsible for killings in  assamblage , the only thing they have to is replace faulty i-phones.
 

This is not how the law works you buffoon. You're making yourself look even more of a horses ass than normal spewing this nonsense. If I buy an iphone from Apple and it blows up in my hand I SUE APPLE NOT FOXCONN YOU IDIOT!! If Apple choose to sue Foxconn to reclaim any damages, that is up to them, but the legal responsibility is on Apple to make sure their products are fit for purpose before selling them,no matter where they are made.

The same goes for KNC. I can see why you didn't go into the family business  Roll Eyes Maybe you should ask your "lawyer family" for some free advice before running your mouth off. You might look like less of a fool.

Well In the US you can sue for notting , in sweden this is diffrent Wink , but KNC is going to refunt as I read so I guess they are not so bad at all.
oh btw if you dont accept the refund well then you are on your own.
as long KNC miners are not FCC or CE , certified you have NO CASE if it explodes in your face!




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alh
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April 23, 2015, 11:04:37 PM
 #40357

At least in the US, when a company is faced with a lawsuit that they may not win, they are motivated to do the right thing. It wouldn't be a surprise if a similar dynamic is in play in Sweden.

Case in point: Butterfly Labs (aka BFL)
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April 23, 2015, 11:05:24 PM
 #40358

I was one of the first to take legal action against KNC re Titans, so you may want to take my opinions with a pinch of salt. But I've seen KNCs legal defence and its pretty weak in my view and quite frankly dishonest. I can't believe even a kangaroo court wouldn't find against KNC for some of the stunts they've pulled. But you'll have to use your own judgement. Talk to Magnus or Joakim, see what you think.

Personally, having read all the arguments I don't think KNC have a leg to stand on and are clutching at straws. I think they are trying to drag this out, hoping most people will give up so they can settle the minimum amount of cases. That's just my opinion, you'll have to come to your own conclusions.

I assume your case is now waiting for adjudication or is there some kind of discovery process in progress ?
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April 23, 2015, 11:12:17 PM
 #40359

I was one of the first to take legal action against KNC re Titans, so you may want to take my opinions with a pinch of salt. But I've seen KNCs legal defence and its pretty weak in my view and quite frankly dishonest. I can't believe even a kangaroo court wouldn't find against KNC for some of the stunts they've pulled. But you'll have to use your own judgement. Talk to Magnus or Joakim, see what you think.

Personally, having read all the arguments I don't think KNC have a leg to stand on and are clutching at straws. I think they are trying to drag this out, hoping most people will give up so they can settle the minimum amount of cases. That's just my opinion, you'll have to come to your own conclusions.

I assume your case is now waiting for adjudication or is there some kind of discovery process in progress ?

I'm guessing they are also waiting on amount of people.  I can't seem to find post but I believe there was a minimum number of people to join before they would move on.

I for one would be scared as you could lose even more money.   I like when lawyers agree to a percent and don't charge upfront, if a lawyer is willing to do this it makes me think they believe in your case more then giving you a rate to pay up front.
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April 24, 2015, 01:42:10 AM
 #40360

Well In the US you can sue for notting , in sweden this is diffrent Wink , but KNC is going to refunt as I read so I guess they are not so bad at all.
oh btw if you dont accept the refund well then you are on your own.
as long KNC miners are not FCC or CE , certified you have NO CASE if it explodes in your face!

Does being this stupid come naturally or do you have to work at it?

@s1gs3gv
I'm waiting for the prelim hearings where we go before the judge and outline our case. Should be May/June. I'm not in the class action, I have my own case but the class action has slowed everything down. The Judge wants to hear all the KNC cases together to speed up the process. So unfortunately the head start I had has been nullified.

@notlist3d
Give Joakim or Magnus a bell. Someone posted a few pages back they were offering to work on a percentage with no up front costs on the class action. I've already paid so I haven't got the details but it might be worth dropping them a line.

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