Swedish ASIC miner company kncminer.com

[kendog77]

Good.  They brought it on themselves by being fucking assholes and screwing us over with their "datorhall"/bullshit delays.

It will now take Knc ~160TH of mining power to earn enough Bitcoin in a single day to refund one 13K Neptune pre-order, and that number is increasing as Bitcoin falls in value.

[2tights]

Good.  They brought it on themselves by being fucking assholes and screwing us over with their "datorhall"/bullshit delays.

It will now take Knc ~160TH of mining power to earn enough Bitcoin in a single day to refund one 13K Neptune pre-order, and that number is increasing as Bitcoin falls in value.

They receive no sympathy on my part. The moment they changed their business model to serve a different master they lost all credibility and my order. These ass holes misled everyone. I hope their farm fails.

[smoothrunnings]

This MT.GOX blow up will have ramifications for years in this industry and we'll never see those nice high values anymore for a long time. BTC has been slowly dropping day by day and continues to do so. There's nothing that is going to make it go back up either. So all you bitcoin rich people out there, how's it feel to have huge amounts of less money? I'm waiting for the price to drop to $100. Then maybe I'll buy some more.

Your too funny. Granted the price of bitcoin is slipping a bit with or without the help of MtGox eventually it will climb back up to $1000 mark. And to be honest this isn't just about Bitcoin, but it also involves all the other crypto currencies. What sets them apart from Bitcoin is they haven't had to go through the growing pains that Bitcoin has since 2009, so they won't last period, while Bitcoin who has made it this far and continues to move forwards will continue.

I agree that Knc is in a bit of a pickle with the hashing rates going through the roof. In the end they will have either refund the money they still have from people who have ordered the Neptune, like myself, or delay the release until they have something that has a good ROI. Maybe that would be a Neptune 2?

But whatever you do, don't panic because the sky isn't really falling!!

[sikke]

Good.  They brought it on themselves by being fucking assholes and screwing us over with their "datorhall"/bullshit delays.

It will now take Knc ~160TH of mining power to earn enough Bitcoin in a single day to refund one 13K Neptune pre-order, and that number is increasing as Bitcoin falls in value.

They receive no sympathy on my part. The moment they changed their business model to serve a different master they lost all credibility and my order. These ass holes misled everyone. I hope their farm fails.

They can afford to refund 10 orders /day with profits, while pumping up their mining power in datorhall... untill all is refunded... KnC will reborn as cloudmining and bitcoin wallet / service provider company... mining and lending hashingpowers with combined in-their-wallet-system-transactions + service fees is more profitable than hardware selling. It is business modell with continuous income instead of one time cashing as equipment sales. It.s business 101 why sell if you can lend, why sell if you can rent out and charge fees. Sadly this was paid by customers.. no amount of refunds will crash KnC stop KnC anymore.

With paidout hardware KnC can keep mining for good profits and disrupting the hasrate balance. They are least ~10% of network total hashrate. Eligius top2 miners mine to same wallet.

3500 coins per day, they get least 300.

Neptune wont profit... KnC will survive.

[Biodom]

KnC will reborn as cloudmining and bitcoin wallet / service provider company... mining and lending hashingpowers with combined in-their-wallet-system-transactions + service fees is more profitable than hardware selling. It is business modell with continuous income instead of one time cashing as equipment sales. It.s business 101 why sell if you can lend, why sell if you can rent out and charge fees.

You cannot lend something that no one wants. This model in predicated on constantly rising bitcoin price. With flat or declining price, lending model fails.
Are there many takers of BFL cloudhashing for $40/Gh. Certainly, not, or at least i hope not.
One time cashing on hardware worked pretty good for Apple and BMW. Of course, the hardware has to be good...

[opentoe]

They replied to me.....
"Refund will only be processed in USD.
In order to process your refund we would need for you to provide us with the details as listed below. "

you can use the $10,000 to buy bitcoin from bitsimple or some trustworthy place.

Seriously. Take your $10k and buy youself a crack whore for the night and make her do everything you can think of. You'll feel very very relieved the next day and never regret it for a minute. A crack whore can give you a better return for your money then the bitcoin industry.

[thomashrev89]

They replied to me.....

"Refund will only be processed in USD.
In order to process your refund we would need for you to provide us with the details as listed below. "

I got the same reply, then after i sent my bank info i got this:

"Your orders xxxxx and xxxxx have been cancelled and will be refunded shortly.
Could you please also provide us with bitcoin wallet, as the other two orders might be refunded in BTC."

Those "other two orders" are orders paid in BTC, rest in fiat. I cross my fingers for BTC refund as it only "might" be refunded in BTC whatever that means.

[kendog77]

They replied to me.....

"Refund will only be processed in USD.
In order to process your refund we would need for you to provide us with the details as listed below. "

I got the same reply, then after i sent my bank info i got this:

"Your orders xxxxx and xxxxx have been cancelled and will be refunded shortly.
Could you please also provide us with bitcoin wallet, as the other two orders might be refunded in BTC."

Those "other two orders" are orders paid in BTC, rest in fiat. I cross my fingers for BTC refund as it only "might" be refunded in BTC whatever that means.

Knc is mining your refund right now. The "might" part is to account for variance. 

[pvnamk19]

New BTC commers are asking serious questions about BTC futurer beforing investing on so called cloud hashing now. Our Bitcoin miners will not accept the recently unacceptable prices from cloud hashing farms => Cloud hashing will not develop? No, they just need to nicely adjust their benefits and we will come in to share the risks. Otherwise, mining themselves, we leave BTC world and who need it!? BTW, I mine BTCs and spend most of them on BTC related industry. That's is the way I can help our community up until now.

[sikke]

They replied to me.....

"Refund will only be processed in USD.
In order to process your refund we would need for you to provide us with the details as listed below. "

I got the same reply, then after i sent my bank info i got this:

"Your orders xxxxx and xxxxx have been cancelled and will be refunded shortly.
Could you please also provide us with bitcoin wallet, as the other two orders might be refunded in BTC."

Those "other two orders" are orders paid in BTC, rest in fiat. I cross my fingers for BTC refund as it only "might" be refunded in BTC whatever that means.

Knc is mining your refund right now. The "might" part is to account for variance. 

After you get refund..

I bet if you give us the refunded bitcoins trail.. sherlocks in here can point out how they were mined in Eligius. Shiny new minted coins.

[thomashrev89]

They replied to me.....

"Refund will only be processed in USD.
In order to process your refund we would need for you to provide us with the details as listed below. "

I got the same reply, then after i sent my bank info i got this:

"Your orders xxxxx and xxxxx have been cancelled and will be refunded shortly.
Could you please also provide us with bitcoin wallet, as the other two orders might be refunded in BTC."

Those "other two orders" are orders paid in BTC, rest in fiat. I cross my fingers for BTC refund as it only "might" be refunded in BTC whatever that means.

Knc is mining your refund right now. The "might" part is to account for variance. 

After you get refund..

I bet if you give us the refunded bitcoins trail.. sherlocks in here can point out how they were mined in Eligius. Shiny new minted coins.

Not a dumb idea 

[mo_mo]

I've asked for refund a month ago and still haven't gotten my refund ..kept on saying the wrong information for my wire,,i've checked multiple times it's all correct!
ANYONE HERE HAVE PROBLEMS GETTING THEIR REFUNDS! I THINK THEY WANT TO HOLD UP MY FUNDS

[Bogart]

Well, they denied me a BTC refund for my single Neptune order, saying that my only option is a wire transfer to a bank.

Of course they never mentioned any banking requirement to receive a refund when I placed the order. 

I have no desire to involve banksters in any of my coin-related business, so now I'm kinda stuck. 

[CYPER]

Well, they denied me a BTC refund for my single Neptune order, saying that my only option is a wire transfer to a bank.

Of course they never mentioned any banking requirement to receive a refund when I placed the order. 

I have no desire to involve banksters in any of my coin-related business, so now I'm kinda stuck. 

Did you pay with bank transfer or BTC via Bitpay?

[eiliant]

Well, they denied me a BTC refund for my single Neptune order, saying that my only option is a wire transfer to a bank.

Of course they never mentioned any banking requirement to receive a refund when I placed the order. 

I have no desire to involve banksters in any of my coin-related business, so now I'm kinda stuck. 

I thought they mentioned BTC paid - BTC refund, fiat paid fiat refund?

[OmegaCentauri]

Seriously. Take your $10k and buy youself a crack whore for the night and make her do everything you can think of. You'll feel very very relieved the next day and never regret it for a minute. A crack whore can give you a better return for your money then the bitcoin industry.

Best advice so far. A+++ would lol again!

[Unacceptable]

Seriously. Take your $10k and buy youself a crack whore for the night and make her do everything you can think of. You'll feel very very relieved the next day and never regret it for a minute. A crack whore can give you a better return for your money then the bitcoin industry.

Best advice so far. A+++ would lol again!

Nah...take your $10,000 & go to Costa Rica,rent a car & drive to Jaco,then stop by the Beetle Bar & get ALL the gals you could EVER want for a MONTH!!!!!!!!!! 

[Searing]

Received my refund today.

- 14th Feb made a request
- 14th Feb same day response asking for bank details
- 15th Feb I sent my details
- 17th Feb they confirmed and said details had been passed to finance team
- 25th Feb payment arrives

It's very sad, I love KNC, had an order for Neptune in the first hour or so, but their announcements combined with bitcoin price dropping makes refund the only thing to do. 

ditto sent in my refund request today for my 2nd Neptune....had all the correct info today they said it has been cancelled and refund is being processed

I still have the 1st customer batch Neptune thou....have not dumped that yet....may keep it if  I can even ROI or a bit better


something to do some people bass fish some people mine btc

going to be interesting they frame the choice in this manner for the Neptune

1) you can get a virtual miner for free say 4 months NOW but never get the physical miner ..and then only have virtual miner option

2) you can wait say 4-6 weeks from virtual miner availability and get your physical miner

3) you can refund

er that would be (3) refund imho

virtual miner till you get your physical miner still may be tempting

but again  this is from the "hobby" point of view ie a bit more then ROI would be nice..kinda thing)

actually reading the above it is kinda looking like i'll dump the 1st one too at the current rate of silliness/drama and such going on with bitcoin lately

Seairng

[Searing]

I've asked for refund a month ago and still haven't gotten my refund ..kept on saying the wrong information for my wire,,i've checked multiple times it's all correct!
ANYONE HERE HAVE PROBLEMS GETTING THEIR REFUNDS! I THINK THEY WANT TO HOLD UP MY FUNDS

I know they are big on a bank SWIFT code being included...the major bank branches have them...my one bank (joke) said it would go thru ...did not trust that
went to another bank I may do all my business with (they try harder) and they had on their form a statement "for international xfers requiring BANKS SWIFT NUMBER
contact bank services'
 
I did so..they actually (my small local bank) are a branch office and or too small to have a SWIFT code...there work around was to go thru wells fargo in san fransicco
with a swift number .....they have an account for this purpose..they said it should work ok gave me the info told me just to make sure to add my name and accnt number
to the wire xfer info

so I sent and email with the info above with the 1 bank hope deal in between and knc had no problems with it (so far) on my Neptune refund I put in today.

anyway seems this 10k limit on transactions thing has Swedish banks nervous thus the swift code ....small bank branches and savings and loans don't have such
so the banks overseas sending wire xfers or over 10k to usa like to have that swift info ..ie they know you are a real bank so to speak

anyway hope this helps your process so far seems to work i'll let folks know if it blows up

but my advice is ask about swift number and say knc is kinda adamant they get one...and see I  your bank has a work around or go to a commercial bank
or a bank that does (not an option here where I live)

Searing

[fr33_lasagna]

If you have a 10k Neptune, Then please message me so I can trade your 10k Neptune queue for my late 13k neptune queue. It is beneficial for both of us that I get 3k back and you get 10k back. Consider it a post xmas present to me, the good will of people.