Swedish ASIC miner company kncminer.com

[samsonn25]

When they claim to make $1 million per day when the dc is complete, I did a simple calculation if that happens at 12 Billion difficulty they need 60 PH to do that!  @.10 electricity

WTF are they BSing or they have that much firepower.

Thats 20,000 Neptunes.  So it is they pre-sell 2500 units and make 10x that amount for themselves first I guess huh.

The article was probably transcribed from Swedish into English and it's likely 1m krona ($190,000) not 1m dollars. Didn't we already have this discussion in this thread? They'd need something like 75%* of the network to earn a million dollars per day.



* ok, I didn't actually do the math but you get the idea, lol.

that makes sense-  krona

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[RchGrav]

Hey guys,

I'm receiving a few Power Regulation modules as parts to fix broken superjup boards this week.

http://archive.ericsson.net/service/internet/picov/get?DocNo=28701-EN/LZT146435&Lang=EN&HighestFree=Y

http://www.mouser.com/ProductDetail/Ericsson-Power-Modules/BMR4641002-001/?qs=sGAEpiMZZMt6Q9lZSPl3RQ93FTH1Y6%252bgllbhf4%252bg7jQ%3d

It might be easier to scavenge parts off of these for missing bits and fix a few of the power modules instead of replacing a whole module due to a missing cap or resistor. 

I think I'm going to have a few extra's... PM me if you are interested and how many u think u need.

Regards,

Rich

[opentoe]

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.

So you forgot all about at least $20,000? Greed is what makes people come here, I seriously doubt you forgot about that much money and no one will believe you if you said you did.

[1l1l11ll1l]

IMPORTANT UPDATE!



Just received CCTV footage of the KNC 5% mining farm. They've added a 2nd and 3rd level to the shelving, so they can stack the miners 3x as high.

The indecent below shows what happened 1 day before they decided to offer "sooper Jupiters"

[opentoe]

Who wants to buy 5.4TH miner for $10? its possible! http://devcoinauctions.com/blog/auction/sp30-yukon-august-batch-asic-miner-5-3ths/

early bird special.

People gotta stop buying shit that isn't made yet. Who ever heard of auctions for gear that isn't even made yet? People are nuts around here. O yea I'll but that...but now I have to wait a few months to get it.

Listen, the consumer bitcoin mining era has been here and gone. And when I say consumer I mean the regular household that doesn't re-wire their entire house or add commercial cooling or anything like that. It's the way of the dollar. I wonder what KNC is doing with all those bitcoins they are generating? Are there Swedish tax laws regarding bitcoins? I'd love to stay in the hobby, but when prices of hardware start to rise towards prices of small American cars, its not a hobby anymore. I think I'll start my own porn company. Everyone else is doing it, why not me.

[opentoe]

I had one controller set with 2 boxes of miners (the only ones which seemed to be functioning) and hashing as expected at 1 TH/s on overnight to test them. This morning 5 out of the 6 ASIC boards had shut down, very likely due to the high temperatures. Even I have built them up in an airconditioned office room with 20 degrees and good ventilation. My "miner" office which I had especially rented to run my Bitcoin farm is in an office complex where other people also run their servers. Now I have paid 10.000 USD and received a pile of junk, invested lots of money in buying PSU, a small computer, paid my technician to set up everything professionally, rented an office and have miners which do NOT EVEN F******** work!

I am sorry KnC, but I really have enough and if you read the forum, so does everyone who has received their "Super" Junk. Not only that those miners don't function properly they are so badly constructed and get so hot that they are dangerous. My technician who had built up many server farms and is highly skilled advised me not to run those miners unsupervised and only in a factory surrounding where if they start to burn the damage would be limited!!!!!!!!!

I have written to KnC, informed Sam and Customer Support, have taken lots of picture evidence during yesterdays 12 hours testing marathon and have the testimony of a licensed technician.

This is not what I have paid for and 10.000 USD is a lot of money.

I am sorry KnC, I always supported you and had hoped that you would make things right, but reading so many other horror stories in almost every forum about the 3TH Super Junior it seems you have just tried to make a quick buck by freeing space for 400 Neptunes for people who didn't want to wait until you say you would deliver them. It was obvious from the comments from other customers that the boxes have been taken from your data centre in North Sweden, thus are used and have already brought their ROI for you. Those were shipped carelessly and only partially or non functioning to customers who had all invested their money to buy a quality miner similar to the Jupiters you had delivered before.

I doubt that this action is legal and unless KnC is refunding my money (I am willing to ship back the whole crap to KnC but NOT on my expenses) or finds another solution for me, I will join a class lawsuit. Those "miners" which KnC has sent out are dangerous, they overheat, they are not proper secured, parts are missing or loosely assembled, they are a danger to have them around.

How will KnC react if due to their miners and apartment catches fire and there is loss of life?

KnC has to react now and not just patch up their delivery hoping the shitstorm calms down.

YOUR 3TH SUPER JUPITER MINERS ARE DANGEROUS TO RUN FOR CUSTOMERS - every technician can verify this.

Please find a solution immediately.

Not to be a party pooper here, but EVERYONE here knew this was all a pre-order risk with bitcoin manufacturer company and pretty much %100 of all the bitcoin manufacturing companies today are greedy thieves. Even that new start up Spoonyermama or whatever their name is, they will also fall into the same category as KNC has once they get that money. When you give people money and power they completely change. That's why this entire world is fucked. I just wish I was alive to see it all come crashing down one day.

[opentoe]

Might be perfect for the Neptunes...

Introducing the Corsair AX1500i

It ain't cheap ($449) but it is Titanium-rated and delivers 1500W on a single rail but also configurable for multiple rails.

I've got a geek boner!  

Nice! But pricey.

How are people planning on powering their Neptunes out of interest? I've been looking at server PSU's and breakout boards.

Probably the cheapest thing would be to be is to buy a small Honda car and let the engine run 24/7.

[opentoe]

Guys the garbage KNC is shipping out now is apparently used/faulty hardware from previous RMA's most likely. I would even think some of those parts weren't even soldered on the boards when it was packed up. They just needed to make sure they sent enough parts to make up a full miner rig, that's all. Seriously, how can those little tiny parts fall off like that?

If you are still waiting for your Neptune, tell them you don't want any heat sink fans or anything. You just want the boards, controller card(s) and cabling and that's it.

I wonder if they chose to increase the insurance on the shipping? Because UPS only insures up to $100 for free, if you want more you have to ask for more and they charge considerably more if you want more insurance.

[Searing]

Guys the garbage KNC is shipping out now is apparently used/faulty hardware from previous RMA's most likely. I would even think some of those parts weren't even soldered on the boards when it was packed up. They just needed to make sure they sent enough parts to make up a full miner rig, that's all. Seriously, how can those little tiny parts fall off like that?

If you are still waiting for your Neptune, tell them you don't want any heat sink fans or anything. You just want the boards, controller card(s) and cabling and that's it.

I wonder if they chose to increase the insurance on the shipping? Because UPS only insures up to $100 for free, if you want more you have to ask for more and they charge considerably more if you want more insurance.

I think on this thread there was a link to the swedish consumer protection ..if it was me I'd be going that route..to get a full refund even if i had to pay 300 bucks to rma all ths parts back.....it is looking like they are simply gonna try to shoot parts back to the super jupiters and pocket the clean neptune cash that would have normally refunded

anyway you'd probably have a better shot at a refund with info/contact from that agency to quote in your email for a refund

anyway I converted my neptune CA batch to a Titan...before KNC fell down the rabbit hole into BFL clone hell...that may have been a mistake

sheesh...got out just 2 days ago from BFL got a refund (and my prev jally) of equiv $8519.30 usd in FULL (a frigging miracle) on my forced updated to monarchs

so I seem to have a pre-order drama with BFL in 2013 after 1 year and 20 days resolved...

and

now it is looking like I'll have a pre-order drama with KNC in 2014 on a shoddy built Titan? crap!

er sigh

Searing

[WEB slicer]

it's now been 22 since i requested a refund. i emailed KNC to ask when i can expect my refund and Anna Jagdhar told me their finance department is "extremely busy" and i wont get my refund for a few more weeks. kurt told me 7-10 days when i originally asked for a refund.

do not trust anything these people tell you.

[Harlbatr]

it's now been 22 since i requested a refund. i emailed KNC to ask when i can expect my refund and Anna Jagdhar told me their finance department is "extremely busy" and i wont get my refund for a few more weeks. kurt told me 7-10 days when i originally asked for a refund.

do not trust anything these people tell you.

When did they turned to be so untrusted ? Seemed very good company from the start.

[btc_uzr]

FYI, Firmware release 1.01 available on www.kncminer.com now, but no news announcement yet.
https://www.kncminer.com/pages/firmware
https://www.kncminer.com/userfiles/file/kncminer-1.01.bin

Seems to be uploaded today:
Last-Modified   Mon, 05 May 2014 11:44:34 GMT

[bobsag3]

it's now been 22 since i requested a refund. i emailed KNC to ask when i can expect my refund and Anna Jagdhar told me their finance department is "extremely busy" and i wont get my refund for a few more weeks. kurt told me 7-10 days when i originally asked for a refund.

do not trust anything these people tell you.

When did they turned to be so untrusted ? Seemed very good company from the start.

Ive been waiting for a refund for my GB since early march. If I dont have a refund from them by Friday, im getting my legal counsel involved. Maybe a letter from them will speed it up, might as well get my monies worth from my retainer.

[raskul]

good

[CYPER]

it's now been 22 since i requested a refund. i emailed KNC to ask when i can expect my refund and Anna Jagdhar told me their finance department is "extremely busy" and i wont get my refund for a few more weeks. kurt told me 7-10 days when i originally asked for a refund.

do not trust anything these people tell you.

When did they turned to be so untrusted ? Seemed very good company from the start.

Ive been waiting for a refund for my GB since early march. If I dont have a refund from them by Friday, im getting my legal counsel involved. Maybe a letter from them will speed it up, might as well get my monies worth from my retainer.

Early March or April?

[robix]

Requested refund on Apr 9th. Still waiting. Also considering legal action.

[bobsag3]

it's now been 22 since i requested a refund. i emailed KNC to ask when i can expect my refund and Anna Jagdhar told me their finance department is "extremely busy" and i wont get my refund for a few more weeks. kurt told me 7-10 days when i originally asked for a refund.

do not trust anything these people tell you.

When did they turned to be so untrusted ? Seemed very good company from the start.

Ive been waiting for a refund for my GB since early march. If I dont have a refund from them by Friday, im getting my legal counsel involved. Maybe a letter from them will speed it up, might as well get my monies worth from my retainer.

Early March or April?

Early march.

Its also pretty cheap for me to fly up to Sweden... just dont have time before the BTC14 conference.

[server]

Early March

Why don't you call KNC and ask for a BTC-refund ?

[Biffa]

Guys the garbage KNC is shipping out now is apparently used/faulty hardware from previous RMA's most likely. I would even think some of those parts weren't even soldered on the boards when it was packed up. They just needed to make sure they sent enough parts to make up a full miner rig, that's all. Seriously, how can those little tiny parts fall off like that?

They can't "fall off like that" the 1kg heatsinks and fans were not attached properly and came off rolling around all over the inside of the case smashing bits off.

[RealMalatesta]

Early March

Why don't you call KNC and ask for a BTC-refund ?

Never mind if you ask for a cash- or BTC-refund: They write you back that they are "extremely busy" and will not give you a refund or a date when they will refund you.

I have meanwhile contacted not only the Swedish Chamber of Commerce, but also the embassy's trade department of our country in Sweden. Furthermore, I have filed a claim and highly recommend that everyone of you does so, too. You can download the document here:

http://www.kronofogden.se/download/18.3ad14b751432a2e49d11da1/1389777725396/9012B11.pdf

And here you can read more about the following proceeding:

http://www.kronofogden.se/Applicationforinjunctiontopay.html

Mainly interesting for me is the following:

http://www.kronofogden.se/WhattheEnforcementAuthorityisallowedtoseize.html

So basically, I have requested that they would also seize all data regarding the financing of KnC's operation. This information may be crucial for submitting it to a lawyer who should file a criminal complaint if he finds any wrongdoing - and normally, such a wrongdoing can be found. If a criminal case is successfull and you have filed a claim that KnC has to pay for damages, you are in a pretty good situation if your financial (civil) claim has been approved.

And damages are here: With the assets witheld by KnC 20nm AB, you could have bought a miner and made BTC and may have sold them. So make sure you already have a good documentation of when you sent them which mail.

Also: Kronofogden explicitly writes:

You can apply for an order to pay provided that:

    the payment due date has passed
    you are able to affect the debt via a hearing (it can be settled)
    the debt is monetary.

So first send KnC a mail giving them a last deadline for payment.
If you have agreed to be paid by Bitcoin: Inform them that you retreat from this offer and - after they have failed to pay you in US$ and Bitcoin - now request a payment in US$. Otherwise, your order to pay surely will be rejected by the authorities.

This retraction from a payment by Bitcoins HAS to be sent to KnC BEFORE you send the letter to Kronofogden.

This is the information I received up to date from our embassy as well as from the Chamber of Commerce. I'll post any additional information I receive.