Swedish ASIC miner company kncminer.com

[TookDk]

This has to be one of the greatest marketing tactics ever.  It's actually a 6 month window. Maybe April 1 maybe sept 30.  Even then it's only estimated not guaranteed.

Yeah... they will properly have to mine with "my" machine a few month before it is shipped, just to make sure that Andreas can buy a 2nd Ferrari.

[faetos]

I am still happy with my KnC Jupiters, but I ask for a refund for Neptunes in early february.
I am glad I did that and invested the BTC in Dragons 1T miners.

Same exact position. Very happy (and still mining with) my Jupiters, chugging away. Neptunes, made the smart move (like everyone else) and went refunds. If they are on time with Titans and are what I expect, then continuing, KnCMiner is still good in my book.

You're selling shares in them, so of course they're still good " Titan Shares starting at $29 for 1 MH/s "

Lol, I'm sorry, was this supposed to be a jab at me or something?

I'm not selling anything in regards to the SP10s or SP30s and I think those are good machines (should be priced better) but they are good in my book as well.

I think in regards to scrypt mining the Lee Group is doing well too. Not selling anything related to them.

So, I'm sorry if you thought I was 'shilling' for KnC but people have seen me post in here time and time again for a lonngg time about what I do and do NOT like about KnC. Additionally, you even quoted me saying I refunded all of my orders on a miner because I knew they weren't good. Clearly showing I'm not 'all' for KnC.

no, no jab. just thought the whole thing was funny. Thanks for clearing it up.

[Searing]

For those of you that still have an order with knc they've had your money now for 8 months. If you had refunded early at $10,000 you could have bought 28 bitcoins when it was $350 and now had btc worth $18,500.

You could buy 4T from bitmain now and have $600 left over. Why are you all so determined to keep your orders? How much longer are you going to wait?

yeah i saw that order ..they ship in 48 hrs at 15c elec where i'm at if i remember right if i bought coin at 650 usd i got like .20 btc more then if i got the miners (4 of them)
used 10,200 for my knc neptune number.that included elec etc and such...not worth the bother

yeah...this year may be the last merry go round for any 'major' asic purchase ...likely from now on it is under 500 buck toys if any in 2015

Searing

[jelin1984]

I had email newsletter form knc

They will have these week more news
Let's see if these week not free hosting I will be very disappointment
I am one of the very first 1-500 knc customers

[Zelek Uther]

I had email newsletter form knc

They will have these week more news
Let's see if these week not free hosting I will be very disappointment
I am one of the very first 1-500 knc customers

I was excited to see an email update from KnCMiner... then disappointed to find that it was just a summary of the recent news. That is: no news.

We're fast approaching mid-June. CA batch customers were promised 3TH/s cloud hashing in early June. That's the news we are waiting for.

[bobsmoke]

I had email newsletter form knc

They will have these week more news
Let's see if these week not free hosting I will be very disappointment
I am one of the very first 1-500 knc customers

I hope you know they are not hosting the neptunes, right?

[edgar]

 

[JasonSW]

Does anybody know the current estimated shipping data for the Titan, anything more precise than Q2/Q3?

This has to be one of the greatest marketing tactics ever.  It's actually a 6 month window. Maybe April 1 maybe sept 30.  Even then it's only estimated not guaranteed.

Neptune supposed to be Q1/Q2, right? now is end of Q2, and 3rd batch even doesn't have a delivery date, simply one month after batch 2, who knows when.

Conclusion: they promised delivery date is just a reference, could be next year.

p.s., I did't follow KNC all the way, but based on recent conversion/online posts, KNC promise no longer exists; correct me if I am wrong.

[JasonSW]

Probably I am one of very few peole decided cancellation now. They said I am in the queue for refunds and they will process ASAP but may take several weeks for refunds to be processed. This is ridiculous. So we have a long long queue waiting for refunds? Anyone did cancellation and got refunds recently?

By the way, few people taking about the newletter. I got it immediately before they answered my cancellation. What a coincidence! Anyway, the newletter is meaningless, just a copy of their online news on June 2. This means they don't have any progress within a week, or these guys are just careless about the news they released to us. (OK, these guys are not stupid they did modify the date  )

News Update On Neptune Production
 
We're pleased to announce that our ground-breaking 20nm chip development process is moving forward as planned.
 
The wafers for the first of our Neptune deliveries left the fab yesterday. Next stop is the packaging house, to turn the wafers into actual chips, so they can be mounted on our boards.
 
There are still a few steps to go before delivery, including power consumption measurements, thermal stress testing and general tweaking, but stay tuned as we'll soon be able to announce final delivery date for the first round of Neptune deliveries.
 
Graphics for our Neptune housing is being finalized as well, and we've included a sneak preview from our Art Director Robert, at the top of this post.
 
Best,
The KnC Team, Stockholm, June 2, 2014.

Neptune Wafers Have Left The Building

We're pleased to announce that our ground-breaking 20nm chip development process is moving forward as planned.

The wafers for the first of our Neptune deliveries left the fab June 1. Next stop is the packaging house, to turn the wafers into actual chips, so they can be mounted on our boards.

There are still a few steps to go before delivery, including power consumption measurements, thermal stress testing and general tweaking, but stay tuned as we'll soon be able to announce final delivery date for the first round of Neptune deliveries.

Graphics for our Neptune housing is being finalized as well, and we've included a sneak preview from our Art Director Rober.

Stay tuned for more news on our upcoming cloud products later this week!

Best, The KnC Team, June 09, Stockholm.

[opentoe]

From KNCminer April 8 Neptune Update, regarding the "Hash while you wait" or "plan B":

The first customers (batch 1) are expected to be hashing in our data center in early June and the last customer will hash in our data center around the last week of June.

Early June is definitely now, the data center has been ready and has been eating up our potential profits for a while now. There is really no reason why this plan doesn't come into play right now.

This was obviously a gesture to prevent us from requesting a refund, and in my case, it worked. I am so sick of being lied to and treated like shit, so please KNC, reward your customers who actually stuck with you!

As stated before, anything they say is %100 on a marketing/sales level and you have to think that way also. Not just blatantly believe them.

[faetos]

Does anybody know the current estimated shipping data for the Titan, anything more precise than Q2/Q3?

This has to be one of the greatest marketing tactics ever.  It's actually a 6 month window. Maybe April 1 maybe sept 30.  Even then it's only estimated not guaranteed.

Neptune supposed to be Q1/Q2, right? now is end of Q2, and 3rd batch even doesn't have a delivery date, simply one month after batch 2, who knows when.

Conclusion: they promised delivery date is just a reference, could be next year.

p.s., I did't follow KNC all the way, but based on recent conversion/online posts, KNC promise no longer exists; correct me if I am wrong.

They are very poor at communication with customers. They've stated the "news, alas no news after all." a few times. A lot of people have cancelled their orders, I among them. There's been a ridiculous delay to process refunds. Some people have been able to get btc refunds which might cut a week or two off of "processing." So, you're in for waiting and waiting for your refund. You can read back several pages to see what others have experienced. Anyway, welcome to the forum!

[JasonSW]

Does anybody know the current estimated shipping data for the Titan, anything more precise than Q2/Q3?

This has to be one of the greatest marketing tactics ever.  It's actually a 6 month window. Maybe April 1 maybe sept 30.  Even then it's only estimated not guaranteed.

Neptune supposed to be Q1/Q2, right? now is end of Q2, and 3rd batch even doesn't have a delivery date, simply one month after batch 2, who knows when.

Conclusion: they promised delivery date is just a reference, could be next year.

p.s., I did't follow KNC all the way, but based on recent conversion/online posts, KNC promise no longer exists; correct me if I am wrong.

They are very poor at communication with customers. They've stated the "news, alas no news after all." a few times. A lot of people have cancelled their orders, I among them. There's been a ridiculous delay to process refunds. Some people have been able to get btc refunds which might cut a week or two off of "processing." So, you're in for waiting and waiting for your refund. You can read back several pages to see what others have experienced. Anyway, welcome to the forum!

Thanks for the info. I will report when I get the refunds. By the way, looks like many people are ordering Titan; but based on the Neptune experience, hard to believe they can keep their words, or they may keep the words, cause they want secure a portion of the scrypt market share. So again this is risky.

[xhomerx10]

From KNCminer April 8 Neptune Update, regarding the "Hash while you wait" or "plan B":

The first customers (batch 1) are expected to be hashing in our data center in early June and the last customer will hash in our data center around the last week of June.

Early June is definitely now, the data center has been ready and has been eating up our potential profits for a while now. There is really no reason why this plan doesn't come into play right now.

This was obviously a gesture to prevent us from requesting a refund, and in my case, it worked. I am so sick of being lied to and treated like shit, so please KNC, reward your customers who actually stuck with you!

As stated before, anything they say is %100 on a marketing/sales level and you have to think that way also. Not just blatantly believe them.

 Stated by who?  If you can't get factual information from the company producing the product with respect to delivery dates, who can you get it from?  You?! Me?! I don't think so.  Do you have a magical crystal ball that allows one to guess at the percentage accuracy of a companies claims?  Given KNC's earlier reputation, I would say they deserved credibility.  Now I would say otherwise, but isn't it really too late for those who are waiting a refund given that the money might have been better spent elsewhere?

[paranoidx]

Does anybody know the current estimated shipping data for the Titan, anything more precise than Q2/Q3?

Considering they took about 3 months from tapeout to the release of Jupiter, I would estimate the Titan being released late August/early September, which coincides with KNC's marketing strategic plan of: give possible release dates but wait to the last minute possible to actually deliver.

[gafter]

On April 11 I cancelled our most recent order from kncminer.  On April 24 I received a "refund" that is short of the correct amount by more than $6,000 USD. I've gone round and round with support staff about this, and the final word (from Sam) is that they have no intention of paying me one cent more.

Sorry to pile on to this, but I thought it best to let you all know.

Can you explain how this came to be for the benefit of others who may be facing similar fraudulence?

sorry to hear they raped you too - the fearful part is we are going to get used to it and start liking it...

Yes please elaborate, I'd guess that the disputed amount revolves around the change in BTC price, OP is trying to get the same amount of BTC back that he paid, but KNC have refunded the $ amount, in which case there is no scam.

Quite the opposite, actually. I paid during the first batch of orders when the price of bitcoins was around $830 USD. The purchase price was $203,320 USD. I requested a refund when it was around $480 USD. They used $495 USD as the exchange rate to compute my refund, even though it wasn't trading anywhere near there, thereby shorting my refund (see the refund at https://blockchain.info/address/1FCBP2nNjWE5CnSxqdpBW33RAeVJ1RGQWx)

Since that time the exchange rate has increased, and they are claiming that they don't owe me any more. Their support said things like

Anna (kncminer)
Apr 24 18:37

Hello,

The bitcoin exchange rate at the time of refund was 495 USD.
We will not be refunding any additional funds on this matter.


Best regards  |
Med vänlig hälsning

Anna Jagdhar

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

and

Hello Neal,

You have paid for your orders in bitcoins and you actually paid much less bitcoins that you have received from us:
11707 - 121.96 BTC and have been refunded 205.37 BTC
12008 - 121.56 BTC and have been refunded 205.37 BTC

You have received 167.22 BTC more than you actually paid for the order.

Best regards  |
Med vänlig hälsning

Anna Jagdhar

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

Sam's explanation of not wanting to pay the full USD value was

May 22
to Neal

Ok
 
So as this was a USD value based transaction, how about you send us back the 410 BTC and then we will recalculate and send again.
 
As far as I can see you used us to hedge the price of BTC paying only a fraction of the coins we have sent you. This was not the terms you agreed to you agreed to when purchasing so if you want to take this further feel free, but you will receive no more coins from us.
 
Thanks,
Sam

Med vänlig hälsning  |  Best regards
Sam Cole 
Kncminer

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

[The Avenger]

Sam's explanation of not wanting to pay the full USD value was

May 22
to Neal

Ok
 
So as this was a USD value based transaction, how about you send us back the 410 BTC and then we will recalculate and send again.
 
As far as I can see you used us to hedge the price of BTC paying only a fraction of the coins we have sent you. This was not the terms you agreed to you agreed to when purchasing so if you want to take this further feel free, but you will receive no more coins from us.
 
Thanks,
Sam

Med vänlig hälsning  |  Best regards
Sam Cole  
Kncminer

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

Wow, KNC are disgusting greedy scum-fucks. Your investment may go up or down, but Sam is shitting his pants about losing a few BTC.

knc got most of their Jupiter orders when btc was $100 and shipped when btc was $1000. Did they give refunds to make up the difference???!?!!!!

This was not the terms you agreed to you agreed to when purchasing so if you want to take this further feel free, but you will receive no more coins from us.

What does this mean? We lost out rather than you lost out, which makes us angry? Actually, that's typical of knc's attitude.

Geesus, knc are pathetic. How the fuck can anyone invest in these pigs when it's so obvious they want to slaughter you, but not lose a dime themselves.

[Phoenix1969]

Does anybody know the current estimated shipping data for the Titan, anything more precise than Q2/Q3?

Considering they took about 3 months from tapeout to the release of Jupiter, I would estimate the Titan being released late August/early September, which coincides with KNC's marketing strategic plan of: give possible release dates but wait to the last minute possible to actually deliver.

Where did you get that TOTAL MISINFORMATION from?
They taped put Jupiter on September 17th last year, and I had my machines by October 15th.
others got them a week sooner

[RoadStress]

Where did you get that TOTAL MISINFORMATION from?
They taped put Jupiter on September 17th last year, and I had my machines by October 15th.
others got them a week sooner

They didn't tape out the Jupiter in September. No way! First Jupiters shipped right at September's end/October start so can't have 1 week from tape out to shipping products.

[The Avenger]

I think KNC said there were still alot of steps until tape out was done "but its in the process" of taping-out.

Yes. The whole engineering process has to happen, which is not just "tweaking" like they write in their newsletters. KNC are very good at marketing and misleading people. But they suck pretty badly at real world engineering and dealing with real world problems. Anyone who expects to see a 3TH+ Netpune this month is DREAMING

[Phoenix1969]

I think KNC said there were still alot of steps until tape out was done "but its in the process" of taping-out.

Yes. The whole engineering process has to happen, which is not just "tweaking" like they write in their newsletters. KNC are very good at marketing and misleading people. But they suck pretty badly at real world engineering and dealing with real world problems. Anyone who expects to see a 3TH+ Netpune this month is DREAMING

*Bookmarked for future reference...  
You don't remember when KNC delivered double spec when others failed... like HashFast and Cointerra?
Their machines did indeed work 1st go-around, when so-called "Experts" in Silicon Valley outsourced PCB design and totally failed!
We shall see about that.