Swedish ASIC miner company kncminer.com

[Biodom]

I think some of you guys should add comments to this story on WSJ.

http://blogs.wsj.com/venturecapital/2014/09/05/for-kncminer-time-to-forget-selling-bitcoin-machines-to-at-home-miners/

Great posts on there - very accurate descriptions of this scamterprise

Another one gone...

[The Avenger]

I think some of you guys should add comments to this story on WSJ.

http://blogs.wsj.com/venturecapital/2014/09/05/for-kncminer-time-to-forget-selling-bitcoin-machines-to-at-home-miners/

This is the best bit:

There, it generates bitcoin for itself, as revenue, and also has started leasing power to customers. Customers can come to its website and pay a fee to get a certain amount of compute power for a duration of time.

Mr. Cole declined to say whether this activity is profitable for customers. “We don’t give indications of returns. That would be bad for business. We are not a financial adviser. We cannot guarantee the performance they will get. The customer will have to do this,” Mr. Cole said.

The difference now, he said, is that given that customers get access to the mining equipment immediately, it “makes the math easier to do.”

Scam Hole basically is spelling out their cloud business is primarily a business set up to fool idiots out of money. How does that guy sleep at night, it's disgusting. And not just Scam of course - Andreas and Marcus are equally disgusting people.

[Marvell1]

Edit
I'm pretty sure this post gets deleted in about 10 mins btw lol

Reading this thread and all the whining here cracks me up.

We as private miners are the cause of this rise of this monster called KNC.  

They used our greed against us and used Our freaking money to not only make it harder for us to mine but also now probably using all the infrastructure
they build using YOUR money as collateral in order to secure MORE cash to even expand thier mining operations further ?!!!

This is the true definition of the gift that keeps on giving.  What fascinates me about this is that people actually gave them another $15million or so
on Titan Preorders when we already know what they were about.

At least Bitmain doesn't even pretend to care about selling hardware to private miners.

I have the say KNC has pretty much won this fight after reading this last announcement , I think the only thing to do know is do all you can to
boycott all their services , blogs and ignore them like people do Bitmain.

I'ts hard to believe they could say this with a straight face.  I can just imagine the raucous laughter that occurs in their meetings and strategy sessions when they discss this shit

Mr. Cole declined to say whether this activity is profitable for customers. “We don’t give indications of returns. That would be bad for business. We are not a financial adviser. We cannot guarantee the performance they will get. The customer will have to do this,” Mr. Cole said.
The difference now, he said, is that given that customers get access to the mining equipment immediately, it “makes the math easier to do.”

[de_ixie]

I think some of you guys should add comments to this story on WSJ.

http://blogs.wsj.com/venturecapital/2014/09/05/for-kncminer-time-to-forget-selling-bitcoin-machines-to-at-home-miners/

Great posts on there - very accurate descriptions of this scamterprise

Shit - mine got removed 2 - accused them of stalling refunds since April

[xstr8guy]

I'm thinking, KNC will triple or even more over delivery hashing power again to us as a happy ending of their small miners, and also a happy starting of heir giant cloud datahall!

A lot of people were saying the same thing about the Neptune. Some idiots were using questionable math and  predicting that each Neptune was going to hash at 12-15THs, lol. And how did that work out for everyone?

For some reason I guess KNC maight change their mind at last moment to not over delivery Nepy's hashing power, actually, they can easily to achieve 8Th/s SHA256 hashing power on Nepy, but they might concerning the global growth of hashing power and do not want to be the first one who trigger miner nuclear war on bitcoin mining, but that's IMHO and I just guessing it and no confirmation source, so just treat this like a tale.

And that's different situation on Scrypt miners, due to compete company already announce  and have a call, so they should fought back for their reputation, this is also IMHO, and do not have confirmation source, so you could just treat it like a tale.    

WTF are you smoking?! You obviously live somewhere were weed is legal or you have a medical marijuana prescription because you're smoking the GOOD stuff.  

All kidding aside... your post is not based in reality... at all.

[poodle63]

Truly marijuana~~

[leozzo]

They are scammers like oder 95% of crypto-involved industry.

When they will release their miner you will cant have back your ROI cause the difficulty and eletricity costs.

Leo

[jomay]

Mr. Cole declined to say whether this activity is profitable for customers. We don’t give indications of returns. That would be bad for business. We are not a financial adviser. We cannot guarantee the performance they will get.



Exactly!

Not quite. I think they can guarantee a "performance" that will disappoint. KnC is good at that. And at scamming people.

Their T&C are actually extremely hostile towards customers and I can't help but wonder if that is legal (smells like business misconduct and fraud). As they just got some funding, time for customers to get their money back, right?

I hope they go out of business soon. Maybe time to herd a flock of polar bears towards their mining center and keep them circling? Muhahaha!

[Searing]

https://bitmaintech.com/productDetail.htm?pid=00020140830074550960Um75pnzg06E3

How do the Titan owners feel now?

if Knc offer a second Titan and ship before October and the Titan deliver 600 Mh/s for 600 watts, they will feel OK.
else they feel deeply fucked.

I like your world of rainbows..unicorns...and playmate fairies.....but it is not gonna happen....they have a NO REFUND policy
now...so they don't have to give us anything...but I like your world view..especially the playmate faries....(sigh off to daydream land)

Searing

KNC has funding. Perhaps the reason for their change of attitude towards their customers. They no longer need to satisfy their customers, only their investors.

https://www.kncminer.com/news/news-104

Greed's a bitch and she's going to get hers when they screw over their investors. Customers complain, but investors make ppl disappear. RIP Scam Hole.

well could KNC just go to 14nm and just go PRIVATE it seems to be the trend...big farm ..big investors..no pesky eguipment customers...if the investors in their PH farm
operation and funding for the 14nm chip get burnt..well KNC can simply point out that in their likely signed investor agreement risks are these big money investors and
profit can not be assured to come to pass... in that it is speculation on their cutting edge 14nm and other endeavors...(sounds like BFL huh?)...

KNC wins either way...funding and success on 14nm and further expansion and centralization and profits..or if it don't work out...well...these big money types
have replaced US PREVIOUS CONSUMER MINERS to carry the load if things go south..hell makes more sense what they are doing now....why go after a bunch
of small change mice consumer miners  like us when you can go after big money types on your enthusiastic KNC miner dream (and yeah they be dreaming did you see the prices on
the KNC cloud)..it is like KNC is BFL now...but know what they are doing on scamming folks..not just making it up like BFL did as they went along...

yeah it is gonna be a train wreck with BIGGER DREAMERS/BIGGER $$$ then ourselves......ah the NEWBIE TRAIN it knows no income level....you be newbie squeezed
irregardless....(prob at the same percentage of income squeeze on false hope as ourselves..just think 'supersized fries vs us regular fries folk...

but well hell at least they have moved on likely to screw bankers/stock market investors/Realtors etc...KNC has moved on to bigger prey...the  eye of MORDOR has moved on....

Ah but I got my Titan coming...so..who am I to talk.... (my precious.....)

Searing

I love your stories...Are you a writer? Hehe

you are the first person to ask me that...considering I write like a 'demented intelligent squirrel on acid' er..... NO.....I have never met a punctuation rule that I could not break...now maybe if I had a full time copywriter/grammar/spell checker...but alas....if I could be a writer...well...I fear for the survival of civilization as we know it...too low a load for mankind to survive I'm afraid

as to knc and this thread that they no longer will make miners and are heading for the sky with 'cloud mining' and all that nice new fluffy investment money

http://www.coindesk.com/kncminer-series-a-funding-round/

face it guys..as I stated in a previous post...we are 'small change' why get $$$ out of bunch of us when you can go after big buck venture capitalist bucks on your cloud
mining operation (ie scam).....ah the move from being an 'loan shark' on the block ...to morphing yourself into 'organized crime' ...power truly corrupts!

Yeah they have moved on to newbies/VC money/higher income level types......our time is past...we've already been fleeced....time to move on

KNC .....the Fickle Finger of Fate Award....the fickle finger of fate once f*cked moves ever onward!

https://www.youtube.com/watch?v=aYG6L9jcFOE

well played KNC well played.....now your plan to make Skynet of the Bitcoin world...er I mean your 'Arctic Cloud' services...(apt name 'when hell froze over theme....fitting....
you make any $$$ at those rates it will be when hell freezes over) ...anyway I digress as usual....

well.... 5% hashing power for yourselves and sell the other 95% at unreal rates....it all works out in the wash I guess...100% $$$ is 100% $$$

maybe it is that KNC is NOT skynet...perhaps ...they are this evil fiend...(seems likely the theme seems the same)

https://www.youtube.com/watch?v=ljxIrxKDIh0

anyway...lets just say after all this I'm keeping a very very close eye on Sweden these days....the whole 'passive aggressive' country could go 'rogue' at any time IMHO

again well played KNC well played....will get popcorn and watch the next reincarnation of BFL/KNC etc move thru the next flock of newbie sheep...at least it is moving
in the rareified 'arctic cloud' of 'real money' .....someone at KNC get Donald Trump ..the Kardasians...and some others in and lose some real $$$ I may even forgive you (not!)

humans we as such a funny bunch of clueless hairy little monkey primates...(look a shiny pebble...wanders off in surge of a slurpie)

Searing

[nightengale]

So they have been "tuning" Titan for 4-5 days now... I'm guessing this does not bode well?

[arbitrage001]

So they have been "tuning" Titan for 4-5 days now... I'm guessing this does not bode well?

This is now Q3. There are only 25 days left before Q3 end.


Is there any news when they are going ship Titan out?

[5craziest]

So they have been "tuning" Titan for 4-5 days now... I'm guessing this does not bode well?

This is now Q3. There are only 25 days left before Q3 end.


Is there any news when they are going ship Titan out?

In short, no.  Nothing official, save for the occasional canned updates showing progress.  I anticipate it will be October

[Micky25]

I hope they go out of business soon. Maybe time to herd a flock of polar bears towards their mining center and keep them circling? Muhahaha!

[fractal02]

Hey Guys....

Josh from GAW miner open a KNC refugee :

https://hashtalk.org/topic/4139/attention-knc-refugees/2


Good discount on Hashlet for you

Leave the crooks and join us

[Micky25]

This is why I am happy to announce my KNC Refuge Program. Until the end of this month I will provide a 15% discount for all customers that use their refunded Titan money to purchase Hashlets.

how should this go? There is no refund on the Titans.

[forzendiablo]

guys my KNC miner sees just 1 cube. any ideas what to do?

[RoadStress]

guys my KNC miner sees just 1 cube. any ideas what to do?

Have you tried to power the cubes one by one to see if there is an issue with any of them?

[forzendiablo]

guys my KNC miner sees just 1 cube. any ideas what to do?

Have you tried to power the cubes one by one to see if there is an issue with any of them?

i tried to hard reset but doesnt work. clicked 5 times, 5 secs, 5 times - nothing.
now other thing i see is.. i ticked bfgminer yet it mines with cgminer on this 1 cube.



currently it sees 2 miners out of 4. at slot 2 and slot 6.

im using 2 PSUs:  EVGA 1000W GOLD, Seasonic 1050W GOLD and connected 4 cubes with them.

any ideas?

[RoadStress]

guys my KNC miner sees just 1 cube. any ideas what to do?

Have you tried to power the cubes one by one to see if there is an issue with any of them?

i tried to hard reset but doesnt work. clicked 5 times, 5 secs, 5 times - nothing.
now other thing i see is.. i ticked bfgminer yet it mines with cgminer on this 1 cube.



currently it sees 2 miners out of 4. at slot 2 and slot 6.

im using 2 PSUs:  EVGA 1000W GOLD, Seasonic 1050W GOLD and connected 4 cubes with them.

any ideas?

You haven't answered to my question. Try to power the cubes one by one to see if you have a defective one. If all cubes are working then try to power 2 cubes with different power supplies. Then try the same thing with the other 2 cubes. Give report here afterwards.

[forzendiablo]

ok im on it btw aint this hashrate bad?