Swedish ASIC miner company kncminer.com

[Aggrophobia]

And regarding the individual: You can set up a company without capital, i.e. use the miner as capital. As long as the miner is not delivered, the company is not existing, thus, you still are a private person protected by consumer laws. If you ask for a refund, you stop being a possible business, i.e. you are again a consumer who's assets are not sent back in time.

Sadly, this doesn´t apply.
KnC TOS state that you "agree" to be a business and agree to a b2b contract.

It doens´t matter wether you actually run this as a business or not, you will be treated as such.

As to the fraud debate: as stated above it might be treated as fraud by relevant authorities.

However, i see this as irrelevant because in the meantime they will just refund you and get off the hook.

It's not so easy to bypass european law with one sentence, in a b2b contract the seller has to verify that the customer
is running a business via EU Company VAT/TAX Number.

http://www.shopbetreiber-blog.de/2012/02/23/verkauf-nur-an-gewerbetreibende-verkaufer-trifft-kontrollpflicht/

[1713472798]

1713472798

[1713472798]

1713472798

[Biffa]

And regarding the individual: You can set up a company without capital, i.e. use the miner as capital. As long as the miner is not delivered, the company is not existing, thus, you still are a private person protected by consumer laws. If you ask for a refund, you stop being a possible business, i.e. you are again a consumer who's assets are not sent back in time.

Sadly, this doesn´t apply.
KnC TOS state that you "agree" to be a business and agree to a b2b contract.

It doens´t matter wether you actually run this as a business or not, you will be treated as such.

As to the fraud debate: as stated above it might be treated as fraud by relevant authorities.

However, i see this as irrelevant because in the meantime they will just refund you and get off the hook.

It's not so easy to bypass european law with one sentence, in a b2b contract the seller has to verify that the customer
is running a business via EU Company VAT/TAX Number.

http://www.shopbetreiber-blog.de/2012/02/23/verkauf-nur-an-gewerbetreibende-verkaufer-trifft-kontrollpflicht/

That really covers selling on Ebay which is primarily a consumer medium, and there is the provision to put your VAT ID on the purchase page.

And its all really a moot point, most people who asked for refunds have recieved them no problem, there seems to be a bit of a delay at present which is being communicated to people who are impacted.

Lets start to get the pitchforks out if it drags on for extended lengths of time beyond what they have said to expect.

There have been two public holidays in Sweden in April, not sure if everyone is counting them as working days.

[opentoe]

 Neptune performance upgrade


4/28/2014 6:48:00 PM


KnCMiner Offers Two-for-One Deal on Bitcoin Mining’s Most Powerful Machine to Loyal Customers

 

 

STOCKHOLM, DATE, 2014 — KnCMiner (https://www.kncminer.com/), the most trusted brand in Bitcoin mining, announced today that it will give every current customer who has an outstanding order for a machine from its Neptune line’s first two batches a free Neptune from its upcoming “third batch” of Neptunes. This represents a $5,995 value and, perhaps more importantly, will provide KnCMiner’s most loyal customers with twice the hashing power they would have otherwise received with just one of these machines.

 

“We know that it is getting tougher to successfully mine in this environment and we want our customers to have every advantage we can give them,” said KnCMiner CEO Sam Cole. “So to combat the downward trend in mining returns for the customers who have been with us right from the beginning, and to show our competition we mean business, we will be over-delivering again on all orders.”

 

Neptune is KnCMiner’s first 20nm product. It features a minimum of 3,000 GH/s (aka 3 TH/s) of hashing speed, five times faster than the company’s most recent bestselling miner, the Jupiter. It also boasts a 30 percent reduction in watts-per-GH. Thanks to KnCMiner’s offer, each customer who ordered a first or second batch Neptune, will get a minimum 6TH for each order, with their original 3TH product shipped in June and the free “third batch” machine delivered in August.

 

“As miners face growing competition, and the increasing difficulty to mine Bitcoin, we will keep working on creative and unorthodox ways to put the best and most loyal customers on the planet first and provide them with the competitive edge they’ve come to expect from KnCMiner,” said Cole.

 

The company has recently announced other initiatives to engage all form of cryptominers, including the launch of a “Mini Neptune” machine (1500 GH/s, $3,495), and for all those Litecoin and Dogecoin enthusiasts, the availability of scrypt miners—the Titan (300 MH/s, $9,995) and “Mini Titan” (150 MH/s, $5,495). KnCMiner also offers cloud-hosted mining participation to existing customers. To learn more about these products and services, please visit https://www.kncminer.com.

One of the last panic announcements of KnC to keep their Neptunes Customers stick with the current orders. Now when the hopefull and loyal Customers, which transferred their order, are pissed at how they got threatened/abused/mislead/scammed etc. will probably apply for a refund. And this call must prevent them from doing this. I imagine KnC probably allready have a huge wave of refunds now... At the moment they seem to have big troubles in refunding cancellations, and their current funds and mining can't cope this? Yeah, yeah!!! Well they mine ~400BTC a day (~14-17 Neptune units of refunds a day; they need ~160 Days at current conditions to mine back the refunds for the first and second batch). If enough people Bought Titans and 3th Batch Neptunes or even the smaller Models of them, they directly can compensate the refundings. Nontheless, it still stresses them hard. On the other hand it sounds really Sad: while some people want to get out, new people are getting involved into a bigger and bigger ponzi scheme and new customers May even be in doubt if they are getting a working unit in the end. It looks like KnC is turning their reputation into some amaturistic hobbists, who ships broken pieces of what is called FrankenJupter, can not deliver in time anymore and making poor decisions in the long run. When everyone is applying for their refunds and taking futher proper legal actions, this might get them on the edge of surviving in this turbulent Bitcoin economy....

Well people better get things straight and act rational while they still can!!!!


Note

KnC doesn't seems to be a trustful company:
- Which "newspaper" brought this news? Looks like they paraphrases themselves in the article.
- They broke promises by building themselves a massive Miningfarm bigger than stated in their own code of conduct.
- It is very plausible the farm is financed direct from Neptunes Customers money, while no one is getting a share/btc back of it.
- Their deliverly of FrankenJupiters are mostly DOA's, proves they do not care about the Quality they deliver to customers.
- What about the original 3th Neptunes Customers: they also deserve an equivalent compensation. That would be fair!
- ...
- ...

Well the list could be longer, these are just some of the big things which now are the case.

Now you have to try and power TWO Neptunes in the summer. Not  for my boys. They finally requested refund. They can't power two Neptunes and keep them cool.

[bittawm]

does anyone know where the fans plug into with the super jups? dont think they fit on controller

[mo_mo]

This is the 10th business day and i still don't have my refund.

KNC PLEASE STOP HOLDING MY MONEY AND SEND ME MY ENTITLED REFUND!!!

Hello,

It usually takes about 10 business days for finance department to issue refund.
However, it might take a bit longer in case if finance department is loaded with work.
Please do not hesitate in contacting us if you have further questions.

Poor Natalie. She is like a robot. I got the same mail 4 times now.




I think i will just ask them until they refund me.

I got the same email from her.
it's been more than 3 weeks now

[xstr8guy]

does anyone know where the fans plug into with the super jups? dont think they fit on controller

They plug into the ASIC boards (inside the case) not the controller boards.

[1l1l11ll1l]

This board is about to confirm Godwin's law.
technical stuff and money>bitching about KnC>beer>sex, including how f'ed we are>....

HITLER!!!

I win!

Wrong! 6 months too late (a bit like KNC  )

https://bitcointalk.org/index.php?topic=170332.msg3304368#msg3304368

Damn Missed it by that much

6 inches?

[AFox]

I'm so happy, still have some Neptune orders because I forgot them. And now they are doubled  !
Also, KNC is learning from their mistakes (shipping, firmware, maybe dead lines), so I'm sure to receive full functional miners.

[ElGabo]

I'm so happy, still have some Neptune orders because I forgot them. And now they are doubled  !
Also, KNC is learning from their mistakes (shipping, firmware, maybe dead lines), so I'm sure to receive full functional miners.

Could you give me half of you optimism? 

I would be the happiest guy in the world. 

[Searing]

I'm so happy, still have some Neptune orders because I forgot them. And now they are doubled  !
Also, KNC is learning from their mistakes (shipping, firmware, maybe dead lines), so I'm sure to receive full functional miners.

forgot them?? forgot them?? (have to sit down I feel dizzy......alas I wish I could purchase jupiters and give
them the attention of purchasing them the same weight as usb 333mh asic miners....

the mind boggles

Searing

(ps hire me to run you gh empire...i'd remember!!!

[samsonn25]

I'm so happy, still have some Neptune orders because I forgot them. And now they are doubled  !
Also, KNC is learning from their mistakes (shipping, firmware, maybe dead lines), so I'm sure to receive full functional miners.

You will eventually.  But unless you have too much money, did the investment bring anything in return. . .

[lemonte]

Looking at my reseller figures, I'd hazard a guess that they've just done a shed load of refunds. Anyone care to confirm?

[whonesta]

Looking at my reseller figures, I'd hazard a guess that they've just done a shed load of refunds. Anyone care to confirm?

I can confirm they have been HOLDING my refund for 23+ days now. I can confirm they have completely ignored my request, save the "status" change to "Refund ready for process". I can confirm they have had my Swift banking &/OR BTC account for 23+ days. I can confirm that KnC is far and away the shit-eating-est manufacturer, YES even worse then Inaba and BFL (They actual did ship, albeit 11 months late, I am running their equipment). KnC totally Phucked their customers and in a LAST ditch effort to save their A$$E$ are doubling the hash of devices, oh how very Hashfast of them.

In conclusion KnC is the BFL of '14, BFL is the Hashfast of '14, and BitMainTech is the ONLY manufacturer that is giving miners(US) a chance @ ROI.

[clubminer]

anyone want buy miner with 3TH/s ?? PM me. 

[bittawm]

buying controllers pm me

[yelloyello]

I'm so happy, still have some Neptune orders because I forgot them. And now they are doubled  !
Also, KNC is learning from their mistakes (shipping, firmware, maybe dead lines), so I'm sure to receive full functional miners.

"some Neptunes" and "forgot them" 

Something doesn't fit here...  I absolute don't forget an investment of tens of thousends of dollars.

[aramaic]

Unfortunately my first post here will be negative for KNC

22 days after Refund was requested , I'm receiving this funny note from Anna:


 Anna (kncminer)

Apr 30 14:02

Hello,

We will process refund by bank transfer.
Please be aware, it might take some more weeks as finance department is busy.
Thank you.


Best regards  |
Med vänlig hälsning

Anna Jagdhar

Kncminer
www.kncminer.com
Office: +46 8559 253 20

Is there anyone received Refund from beginning of April till now?
Or KNC are going on the bankrun in the next weeks?

[midyatspor]

Unfortunately my first post here will be negative for KNC

22 days after Refund was requested , I'm receiving this funny note from Anna:


 Anna (kncminer)

Apr 30 14:02

Hello,

We will process refund by bank transfer.
Please be aware, it might take some more weeks as finance department is busy.
Thank you.


Best regards  |
Med vänlig hälsning

Anna Jagdhar

Kncminer
www.kncminer.com
Office: +46 8559 253 20

Is there anyone received Refund from beginning of April till now?
Or KNC are going on the bankrun in the next weeks?

waiting for mine also, it's been almost 20 days.

[RoadStress]

Today i got my BTC refund from KnC. I advise everyone to go that route! Farewell KnC!

[elasticband]

How much btc dis you get per neptune?

When did you convert to btc? I did so last week.