Swedish ASIC miner company kncminer.com

[bittawm]

are we going to sue these guys or what?

[1713582430]

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[1713582430]

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[1713582430]

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[RealMalatesta]

are we going to sue these guys or what?

I'm currently discussing this issue with a lawfirm in Sweden. Once I receive their legal opinion, I'll post it here.

[SgtMoth]

are we going to sue these guys or what?

I'm currently discussing this issue with a lawfirm in Sweden. Once I receive their legal opinion, I'll post it here.

I want in on this lawsuit too

[yelloyello]

First I wait for their solution.

If not, second, I go in person to Sweden to discuss this.

(see my earlier post about visiting in person, are you in Belgium, the Netherlands or Germany? Come on, take some broken KNC cards and your bill and fly with me. I leave from Zaventhem/Brussels)

Third, count me in the lawsuit.

[faetos]

never roi i think which pool?
mining?

Swimming.

I get you are upset with KNC so say your peace and move on. In society people who get upset about something and do nothing but get in other peoples faces who are somewhat or satisfied suffer from some form of mental instability and need to be treated. Are you one those people Joeventura?

I don't mind if this post get yank from this thread but to be honest all your posts fear monger posts should stripped out too, and not just from this thread but all the other threads too, unless Admin believes in allowing unstable people to have free reign of this site.

It's called civil discourse and all opinions are welcome in bct. There's an ignore button if you don't like someone, but that's no fun. If you want sunny side up KnC love then go hang out in their forums. PPL are pissed there, too, but they tend to ban and delete posts they don't like. This thread is fairly civil. If you want to see some serious disfunction you should check out a BFL thread. I pity those folks.

Just chill, relax and enjoy the discussion.

[xstr8guy]

For what its worth....

After a week Super Jupiter Mining there is the first btc.

Forget about ROI.

Only 21 more BTC to go before you get to Zero!!

18 more months and you are good to go!!

Let this be a warning to everyone else GET YOUR REFUND NOW!!

So what happened to that old argument... "ROI is only when you earn your original BTC investment back"? I paid just over 10 BTC not $10,000.

I have 18 working boards from the first batch that hash at ~2.5THs. I also bought 2 extra controllers (PSUs and heatsinks for another ~$2000 invested) so I can run another 12 boards from the second shipment. I'm just waiting for some IDC ribbon cables to be delivered. Hopefully I can cherry-pick enough boards to get another ~2THs.

I haven't done the math but I should be able to get close to a positive ROI at some point in the future. The biggest downside to ROI is the resale value of these fragile hunks of crap. Unless it's a local delivery, I don't see much chance of ever being able to resell them.

[tzortz]

Where did you buy those ribbon IDC cables?

[xstr8guy]

Where did you buy those ribbon IDC cables?

eBay. There's a thread on the KNC forum with links. I tried to order them without advice and got the wrong ones. Cost me over a week of hashing time. So be sure to use the links in the thread.

http://forum.kncminer.com/forum/main-category/hardware/41901-kurt-idc-ribbon-cable-specs

[tzortz]

Thanks so much.

[Cablez]

So what happened to that old argument... "ROI is only when you earn your original BTC investment back"? I paid just over 10 BTC not $10,000.

I have 18 working boards from the first batch that hash at ~2.5THs. I also bought 2 extra controllers (PSUs and heatsinks for another ~$2000 invested) so I can run another 12 boards from the second shipment. I'm just waiting for some IDC ribbon cables to be delivered. Hopefully I can cherry-pick enough boards to get another ~2THs.

I haven't done the math but I should be able to get close to a positive ROI at some point in the future. The biggest downside to ROI is the resale value of these fragile hunks of crap. Unless it's a local delivery, I don't see much chance of ever being able to resell them.

What happened to the equally old argument of taking the BTC refund and getting 2X your initial investment right now?     

[xstr8guy]

So what happened to that old argument... "ROI is only when you earn your original BTC investment back"? I paid just over 10 BTC not $10,000.

I have 18 working boards from the first batch that hash at ~2.5THs. I also bought 2 extra controllers (PSUs and heatsinks for another ~$2000 invested) so I can run another 12 boards from the second shipment. I'm just waiting for some IDC ribbon cables to be delivered. Hopefully I can cherry-pick enough boards to get another ~2THs.

I haven't done the math but I should be able to get close to a positive ROI at some point in the future. The biggest downside to ROI is the resale value of these fragile hunks of crap. Unless it's a local delivery, I don't see much chance of ever being able to resell them.

What happened to the equally old argument of taking the BTC refund and getting 2X your initial investment right now?     

Lol, point taken! But a refund was not an option for me at the time as they were offering bank transfer only for small orders which I did not want. I would have taken a BTC refund though if it had been offered.

[opentoe]

31 days after my Refund request Anna keep rolling the same " it will be transferred in few weeks" .

One month lies and BS.

Is it sure that the bank accounts of KNC are still not blocked by Swedish government?

Something start smell here. 1 Month for refund is really a lot, even for cheap bastards like KNC.

Just to remind you guys:

Don't send any Money to KNC. Don't buy any nonrefundable hardware from them.

KNC is SCAM NOW and they going to score Fraud of 2014. Hold on for Q5

Request for a BTC refund instead as they are offering that as an option now.

BTC refund will not work for our Tax office in UK.
All we want is this transfer started finally how they promised when we pay for the product:

"All Refunds will be refunded in dollars and you can refund till shipment"

Are we doing something wrong KNC?

Then you get it to work. That's a lame excuse. BTC refund won't work because of taxes issuses. Get your BTC back, get it back in cash. Then make appointment with your IRS and ask them how to proceed. You'll have them going in circles for months they'll never get back to you and you'll be covered from the paper work you have trying to make it right.

[bittawm]

are we going to sue these guys or what?

I'm currently discussing this issue with a lawfirm in Sweden. Once I receive their legal opinion, I'll post it here.

keep me informed mate, cannot believe theyre the new bfl

[opentoe]

Me unpacking my $10,000 investment:

http://youtu.be/UsPYcQlMlGk

You guys are seriously getting FUCKED up the ass here and really should get some legal help with this. They seriously can't blame every issue to the shipping company. How could that be even possible? %100 out of %100 deliveries damaged? Don't shit on this shit, I'd get legal help somehow and fast. You all spent at least $9k on these things, so you have to have some money. Put the legal pressure on. Don't let them keep giving you the run around with sending you already broken parts. Wait until people start receiving parts that are already broken. Then you have to go through the RMA shit ALL over again. And maybe by that time, you've lost thousands of dollars but were offered a cloud hashing subscription? You'll never make the money you intended to make if things were correct here. Anyone right now that is affiliated with KNC is screwed.

[DPoS]

I don't see much chance of ever being able to resell them.

ask KNC, they seem to be experts

[SgtMoth]

So what happened to that old argument... "ROI is only when you earn your original BTC investment back"? I paid just over 10 BTC not $10,000.

I have 18 working boards from the first batch that hash at ~2.5THs. I also bought 2 extra controllers (PSUs and heatsinks for another ~$2000 invested) so I can run another 12 boards from the second shipment. I'm just waiting for some IDC ribbon cables to be delivered. Hopefully I can cherry-pick enough boards to get another ~2THs.

I haven't done the math but I should be able to get close to a positive ROI at some point in the future. The biggest downside to ROI is the resale value of these fragile hunks of crap. Unless it's a local delivery, I don't see much chance of ever being able to resell them.

What happened to the equally old argument of taking the BTC refund and getting 2X your initial investment right now?     

Lol, point taken! But a refund was not an option for me at the time as they were offering bank transfer only for small orders which I did not want. I would have taken a BTC refund though if it had been offered.

I wanted a refund too, but I bought through a buddy in the states and a cash refund would have hurt him.

[gmaxwell]

If KNC made enough money for Boden from original orders (Saturns and Jupiters) why in the world would they need to finance the development of the Neptunes and Titans with preorders?

An uncharitable interpretation would be so they could be "delayed" and leave customers in a lurch where they would feel grateful to accept apparently used hardware, allowing KNC to cycle out their inventory so that their own facility can run on the latest gear.  But what do you expect from a company who flagrantly violated their self-mining promises pretty much as rapidly as they good, using their customers payments to go into competition with them and making their own products into an assured bitcoin for bitcoin loss?

[RoadStress]

If KNC made enough money for Boden from original orders (Saturns and Jupiters) why in the world would they need to finance the development of the Neptunes and Titans with preorders?

You got it wrong. They built the Boden facility with customers Neptune preorders. Titan preorders were just a bonus. Now with their big ass DC they don't care about their customers. They are the pure example of simple nerds turning into greedy sons of bitches. And now I understand why nerds deserve bullying. Because KnC!

[freakingcat]

Please let me know if you initialize a lawsuit, I am joining

[davewr2013]

I tried to find my Neptune posts so I could copy them -- and gloat. But gloating seems in really poor taste because of all the problems...

Anyway when Neptune was announced I provided some cautions -- including that I had some Xilinx 20NM based product on order -- and it was already late -- it should have been delivered in Oct/Nov 2013. I should see a shipping notice this week -- I guess.

As someone who worked all his life at the bleeding edge of technology I could not see this (Neptune) product could be delivered on time. I had hoped they would make additional Jupiters available in December/January -- as they likely (but not certainly) would have made a positive ROI.

My calculations showed that delivery later than mid-March 2014 made a positive payout seem unlikely.

Then I saw the notice about their northern mining factory....

Then came the 3THash mining contracts offer...

The came the "be patient" -- we'll deliver a "two-for-one" offer!


Anyway -- I guess this cost me since the rise in difficulty means we will get about 10 BTC less than estimated from our Jupiter (nee Saturn)...

It looks like bait and switch to me -- go get them!

Not happy in Canuckistan!

Risk is one thing -- chance is another -- don't want to use the nasty "F-Word" but when you promise one thing and don't deliver -- or deliver something else or devalued goods -- what can you call it? Just a wee mistake?