Swedish ASIC miner company kncminer.com

[RoadStress]

Don't think there is any honesty nor money left in KnC...they are bankrupt...they went Gox

Refunds take more and more time to process
They prefer to have a court trial over the Super Jupiter crap they sent us
Refuse refunds on Titans
No product updates on Neptunes

KnC is bust....

Hard to be bankrupt with a 10MW DC...But yes they suck.

[joeventura]

So, if received on or before the 28th?
I think yours were already mailed at that point, right?
Friggin' lame.
So, yeah, looks like he thought there would be good boards left from the original,
Keeps on sucking worse and worse this Franken-Deal.

Don't think there is any honesty nor money left in KnC...they are bankrupt...they went Gox

Refunds take more and more time to process
They prefer to have a court trial over the Super Jupiter crap they sent us
Refuse refunds on Titans
No product updates on Neptunes

KnC is bust....

You are incorrect.

[5craziest]

Don't think there is any honesty nor money left in KnC...they are bankrupt...they went Gox

Refunds take more and more time to process
They prefer to have a court trial over the Super Jupiter crap they sent us
Refuse refunds on Titans
No product updates on Neptunes

KnC is bust....

Hard to be bankrupt with a 10MW DC...But yes they suck.

Everyone says they can't be broke b/c they have this big data farm, but is there any reliable data on what kind of revenue it's producing and what the operating costs are?  Just curious what they're net revenue is

[raskul]

Don't think there is any honesty nor money left in KnC...they are bankrupt...they went Gox

Refunds take more and more time to process
They prefer to have a court trial over the Super Jupiter crap they sent us
Refuse refunds on Titans
No product updates on Neptunes

KnC is bust....

Hard to be bankrupt with a 10MW DC...But yes they suck.

Everyone says they can't be broke b/c they have this big data farm, but is there any reliable data on what kind of revenue it's producing and what the operating costs are?  Just curious what they're net revenue is

not to mention TAXES. may KnC be stung for 200% by the government of Scandinaviland.

[Templer]

What if the DC isnt a KNC thing anymore, maybe they sold all the boards for i dont know 1$ to their own daughter company? KNC broke, daughter company liquid

think about it.

[RealMalatesta]

What if the DC isnt a KNC thing anymore, maybe they sold all the boards for i dont know 1$ to their own daughter company? KNC broke, daughter company liquid

think about it.

This was my first thought, too.

kncminer.com is owned by Kennemar & Cole AB. The Neptunes which I ordered were paid to KnC 20nm AB, while they write on the homepage that the content is copyrighted by KnCMiner AB.

KnC Cloud is operated by KnC Group AB while the domain is owned by KncMiner AB.

We all do not know how they have transfered the assets internally and if they have intercompany loans.

They once wrote that they make 400'000 US$ per day by mining. This is, however, already a couple of diff-adjustments ago (gosh, do I really start to measure time in diff-changes?)

[underneath_the_water_line]

What if the DC isnt a KNC thing anymore, maybe they sold all the boards for i dont know 1$ to their own daughter company? KNC broke, daughter company liquid

think about it.

This was my first thought, too.

kncminer.com is owned by Kennemar & Cole AB. The Neptunes which I ordered were paid to KnC 20nm AB, while they write on the homepage that the content is copyrighted by KnCMiner AB.

KnC Cloud is operated by KnC Group AB while the domain is owned by KncMiner AB.

We all do not know how they have transfered the assets internally and if they have intercompany loans.

They once wrote that they make 400'000 US$ per day by mining. This is, however, already a couple of diff-adjustments ago (gosh, do I really start to measure time in diff-changes?)

If I may ask, how do you know that your payment were made out to KnC 20 nm AB? Did you by any chance pay by bank transfer?

I paid through BitPay and don't recall anything regarding that specific company name. It is a truly interesting observation on your part. This is one of the reasons I want to collect information on KNC's mining operations and their address' but the community didn't seem too keen on it. Fearmongering they say...

[bittawm]

any news on class action lawsuit

[fubly]

If KNC delivers with this specs for on Neptune order:

2 x 3600 Gh/s
2 x 2100 Watt
01. June shipping date

Also the Bitcoin price remains at 450USD or less.
Diff growth rate 15%. Then...
PowerCost: 0.10 USD / Kw/h

If KNC is starting shipping the miner on 1. June to the customers who has 1. unofficial Batch, then these customers
will never have an BEP.

Because:

Mining Start: 01. June 2014 Mining End: 05. Feb. 2015
My Ghs: 7,200
--------------------------------------------------------------------
Result on 05. Feb. 2015

• Diff:96,361,146,364
  btc/day/1Gh/s: 0.0000052230
  Next Diff in: 14 Days
  Mined Bitcoins: 37.4079456
  Earned befor powercost: 16,190.16 USD
  Powercost: 3,916.08 USD
  Earned: 12,274.08 USD

--------------------------------------------------------------------

Starting down trend!
--------------------------------------------------------------------
Result on 19. Feb. 2015

• Diff:110,815,318,319
  btc/day/1Gh/s: 0.0000045420
  Next Diff in: 14 Days
  Mined Bitcoins: 37.8657792
  Earned befor powercost: 16,388.31 USD
  Powercost: 4,142.88 € USD
  Earned: 12,245.43 € USD

--------------------------------------------------------------------

For all other KNC customers, the day on which the powercost is higher then mined btc.

If anyone want the math sheet, then pm me, Thanks for 0,15 btc

My conclusion: the price for one Gh/s must be under 1 USD

 

[Syke]

If KNC delivers with this specs for on Neptune order:

2 x 3600 Gh/s
2 x 2100 Watt
01. June shipping date

There's no way they're delivering 2x3600 in June. None. Why bother estimating the impossible?

[raskul]

If KNC delivers with this specs for on Neptune order:

2 x 3600 Gh/s
2 x 2100 Watt
01. June shipping date

There's no way they're delivering 2x3600 in June. None. Why bother estimating the impossible?

September.

[RealMalatesta]

What if the DC isnt a KNC thing anymore, maybe they sold all the boards for i dont know 1$ to their own daughter company? KNC broke, daughter company liquid

think about it.

This was my first thought, too.

kncminer.com is owned by Kennemar & Cole AB. The Neptunes which I ordered were paid to KnC 20nm AB, while they write on the homepage that the content is copyrighted by KnCMiner AB.

KnC Cloud is operated by KnC Group AB while the domain is owned by KncMiner AB.

We all do not know how they have transfered the assets internally and if they have intercompany loans.

They once wrote that they make 400'000 US$ per day by mining. This is, however, already a couple of diff-adjustments ago (gosh, do I really start to measure time in diff-changes?)

If I may ask, how do you know that your payment were made out to KnC 20 nm AB? Did you by any chance pay by bank transfer?

I paid through BitPay and don't recall anything regarding that specific company name. It is a truly interesting observation on your part. This is one of the reasons I want to collect information on KNC's mining operations and their address' but the community didn't seem too keen on it. Fearmongering they say...

When I asked for their banking information, they wrote:

For Bank Transfers;
In the reference please add your order number only (no product name) so we can track your payment
Payment must be in USD.
Please use the following details:

Bank Name: SEB (Skandinaviska Enskilda Banken)
Account Name: KnC 20nm
IBAN (USD): SE3250000000054238221028
BIC/SWIFT: ESSESESS
Bank Address: SEB, Stureplan 2, 106 40 STOCKHOLM/SWEDEN
KnC 20nm AB address: Birger Jarlsgatan 33 5tr, Stockholm, 111 45, Sweden.

Once I have all the documents from the Swedish registry of commerce, I'll post them here.

[raskul]

^ CRAFTY AS FUCK.

[fubly]

If KNC delivers with this specs for on Neptune order:

2 x 3600 Gh/s
2 x 2100 Watt
01. June shipping date

There's no way they're delivering 2x3600 in June. None. Why bother estimating the impossible?

And yes, it will be impossible to have an BEP with batch 0 / 1 / 2 / 3. You are so right.

I think mining is death and also the rest.

[Phoenix1969]

Don't think there is any honesty nor money left in KnC...they are bankrupt...they went Gox

Refunds take more and more time to process
They prefer to have a court trial over the Super Jupiter crap they sent us
Refuse refunds on Titans
No product updates on Neptunes

KnC is bust....

Hard to be bankrupt with a 10MW DC...But yes they suck.

Everyone says they can't be broke b/c they have this big data farm, but is there any reliable data on what kind of revenue it's producing and what the operating costs are?  Just curious what they're net revenue is

not to mention TAXES. may KnC be stung for 200% by the government of Scandinaviland.

about 56% actually...
Sweden has a progressive income tax, the rates for 2014 are as follows:
From Wiki...
0% from 0 kr to 18,800 kr (~0 - 2,690 USD)
Circa 31% (ca. 7% county and 24% municipality tax): From 18,800 kr to 433,900 kr (~2,690 - 62,140 USD)
31% + 20%: From 433,900 kr to 615,700 kr (~62,140 - 88,180 USD)
31% + 25%: Above 615,700 kr (88,180 USD and up)
but hefty

[RealMalatesta]

any news on class action lawsuit

No and Yes.

First of all, it is not a "Class Action" - this is an instrument mainly known in the US legislation.

Second: I am working with one of the hugest lawfirms in Sweden. They first had to check in all of their offices and with their lawyers if there is any conflict of interest.

The good news: No, there isn't. The bad news: This took a couple of days. I wrote today a summary of events and have sent it to them, describing the different kinds of "victims":
- Persons who didn't get their money back
- Persons who received broken Frankenjupiters

I'm waiting now for a response from the lawyers and will - depending on their response - open an own thread for this.

[Zelek Uther]

If KNC delivers with this specs for on Neptune order:

2 x 3600 Gh/s
2 x 2100 Watt
01. June shipping date

There's no way they're delivering 2x3600 in June. None. Why bother estimating the impossible?

https://www.kncminer.com/news/news-87

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.

1 Neptune in June and 1 Neptune in August... not 2 Neppys in June.

[fubly]

If KNC delivers with this specs for on Neptune order:

2 x 3600 Gh/s
2 x 2100 Watt
01. June shipping date

There's no way they're delivering 2x3600 in June. None. Why bother estimating the impossible?

https://www.kncminer.com/news/news-87

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.

1 Neptune in June and 1 Neptune in August... not 2 Neppys in June.

I know this before! Thought for thought.

What we need is an bitcoin price of 1400 USD and more

[RoadStress]

any news on class action lawsuit

No and Yes.

First of all, it is not a "Class Action" - this is an instrument mainly known in the US legislation.

Second: I am working with one of the hugest lawfirms in Sweden. They first had to check in all of their offices and with their lawyers if there is any conflict of interest.

The good news: No, there isn't. The bad news: This took a couple of days. I wrote today a summary of events and have sent it to them, describing the different kinds of "victims":
- Persons who didn't get their money back
- Persons who received broken Frankenjupiters

I'm waiting now for a response from the lawyers and will - depending on their response - open an own thread for this.

Taking a couple of days to check stuff up can't be a bad thing. Let us know of any other updates. I have some bitcoins that beg me to be turned into belgian beers.

[mo_mo]

Anyone got there btc refund after switching from wire ?
I requested a wire refund in beginning of April,  now changed to btc, still waiting for the refund.
All you get is a genetic bs email reply