Swedish ASIC miner company kncminer.com

[wasubii]

Has Knc Cloud shut down? "KncMiner" stopped finding blocks. What the hell is going on?

Maybe something to do with the class action lawsuit?

[cryptodaknight]

Has Knc Cloud shut down? "KncMiner" stopped finding blocks. What the hell is going on?

Maybe something to do with the class action lawsuit?

I sure hope so, this company needs to go with all its assets given to those that got screwed by them.

Their fortune was made on the $$$ of others without any sort of far interest or VC capital involved.

[kingscrown]

Has Knc Cloud shut down? "KncMiner" stopped finding blocks. What the hell is going on?

Maybe something to do with the class action lawsuit?

where can i read more about class action lawsuit andwhat to fill in?

[FoolPartedWithMoney]

I can imagine that it's easy to get pumped up about the lawsuit. But check out the misery in Hashfast thread to see that the only people getting money from that ordeal are lawyers.

[kingscrown]

knc is in EU, should be easy to get cash back for EU people imo.
jsut thread is so long i would like somebody to gude me where to go.

[Ollie]

Has Knc Cloud shut down? "KncMiner" stopped finding blocks. What the hell is going on?

Maybe something to do with the class action lawsuit?

Did they run with the money to some Central American or Caribbean state to avoid responsibility for the Titan(ic) disaster?

[wasubii]

For those who are unfamiliar with google...

http://kncclassaction.com

[mishax1]

Some are also contacting Magnus Daar

[l3sny]

Some are also contacting Magnus Daar

I think Nova is for the EU clients only.

[smoothrunnings]

I'm skeptical that this attorney is ready for something like this. As far as I can find, she's only been practicing for 2 years and it's mostly traffic court. KNC with our millions may eat her alive.

The alternative is just to sit by and do nothing.

Have to wonder, were yields so bad on first batch of chips that KnC is waiting for second batch of chips to finish batch 1 orders?

What is the progress of this lawsuit, as i signed on to it also. I'd love to know where we are at and how far this can go? As they made 200 million, i think that shutting them down and suing them for all their assets is in order cause they got rich off their customers money, it no longer belongs to them.

Class action lawsuits take YEARS to resolve, so you might as well let your children know so that they are around when you aren't to collect the money.

[nightengale]

But the threat of a lawsuit may inspire KnC to do the right thing.

[jelin1984]

I think knc

Will never sent batch 1 miner
Titan
Mine still paid

Order number 19@@@

[l3sny]

I'm skeptical that this attorney is ready for something like this. As far as I can find, she's only been practicing for 2 years and it's mostly traffic court. KNC with our millions may eat her alive.

The alternative is just to sit by and do nothing.

Have to wonder, were yields so bad on first batch of chips that KnC is waiting for second batch of chips to finish batch 1 orders?

What is the progress of this lawsuit, as i signed on to it also. I'd love to know where we are at and how far this can go? As they made 200 million, i think that shutting them down and suing them for all their assets is in order cause they got rich off their customers money, it no longer belongs to them.

Class action lawsuits take YEARS to resolve, so you might as well let your children know so that they are around when you aren't to collect the money.

Not really. Dragging this for years will ruin the respondents because of their legal costs.

[Searing]

But the threat of a lawsuit may inspire KnC to do the right thing.

actually the fact the titans are NOT working etc strenghtens KNC's case that this is a business to business transaction and as such these are experimental devices etc not ready for the consumers...so broken products only makes their "this is not a consumer product thus not protected under EU consumer laws" even more solid

quite smart on their part actually

as far as I can tell from knc forums and here...NO ONE that has got on and 'crowed' that his Titan is working FLAWLESSLY at 300mh on anything.....so you'd THINK if KNC was telling the truth and problems are the exception with the Titan someone would be on crowing about how 'they are kicking a*s with their working miner and the rest of us are out of luck

I have seen NO such post..those that DO work seem to only work (for a while) on the LTC pool and at around 150mh to 175mh with frequent downtimes

again the above is what I can tell of the units that WORK

as to the rest it is bad SD card..bad cube ...etc etc with ONLY option according to KNC is to "change pools" TM KNC or send it back as a RMA issue (and their emails state
if you do people have posted....they have no idea when they will send your unit back in that they are swamped)

my own view is they are not 'shipping' because they are getting more units back then they usually could ship and quite frankly don't know wtf is going on yet with what is
wrong with the Titans

they have sorta acknowledged that the SD cards commonly need to be reflashed.....I know zip about this can someone point me to a link of a good SD card to get and type 10 or
whatever I'm supposed to buy? I may just want to have one flashed and ready before the doorstop/space heater Titan arrived (know zip about diff flavors or whatever for SD cards)

we be soooo screwed....I'm at a loss of even what to say/do with this mess...from quality control to parts to equip errors on mnfg to just plain sh*tty product...it just seems
to be spiraling down ...it kinda looks like that damn things won't work more the 90 days under any circumstances...

experimental product  indeed so no refunds business to business transaction ...not suitable or covered by consumer laws as a result

well played KNC well played....

[l3sny]

Did they advertise it as experimental products? You cannot sell experimental products to the consumers no matter what label you put on the box.
The problem is that this has to be yet assessed by a judge. Apart from consumer's protection there are unfair market practices.

The only problem I see is to whether KnC customers are consumers. That's a preliminary issue that needs to be resolved as first.

DEFINITION OF 'UNFAIR TRADE PRACTICE'
Using various deceptive, fraudulent or unethical methods to obtain business. Unfair trade practices include misrepresentation, false advertising, tied selling and other acts that are declared unlawful by statute. It can also be referred to as deceptive trade practices.

[Searing]

Did they advertise it as experimental products? You cannot sell experimental products to the consumers no matter what label you put on the box.
The problem is that this has to be yet assessed by a judge. Apart from consumer's protection there are unfair market practices in which case even a business has a right to protection.

DEFINITION OF 'UNFAIR TRADE PRACTICE'
Using various deceptive, fraudulent or unethical methods to obtain business. Unfair trade practices include misrepresentation, false advertising, tied selling and other acts that are declared unlawful by statute. It can also be referred to as deceptive trade practices.

they say it is a business to business transaction..... under EU law


from what I understand this includes experimental devices or devices not suitable for consumers (bitcoin miners are not a big consumer product)

anyway others on here have posted such...they can chime in

but essentially imho that is why knc is saying it is a biz to biz transaction..the fact we have to supply our own power supply (not what a consumer would expect)
bitcoin miners (not a traditinal consumer product) the fact we agreed in the TOS....they fact KNC states all bitcoin mining is a buiness no one does it for a hobby

anyway others feel free to hop  on here..but that is the POSITION knc is taking imho

not that it flies well imho ..but they are resisting all efforts to conform to consumer law in the EU ....sucessful or not that is the track they have been taking

from what I can tell from posts here and on knc forums and such

I'd like to be wrong by the by..... but don't think they are gonna budge from that or we could just send back the units w/in 14 days under what I think is EU
consumer law...if you do so now knc states they simply will send it back and charge you postage w/o accepting it...this is also true of any RMA you send
w/o getting permission to sent it to them first

[Searing]

Did they advertise it as experimental products? You cannot sell experimental products to the consumers no matter what label you put on the box.
The problem is that this has to be yet assessed by a judge. Apart from consumer's protection there are unfair market practices.

The only problem I see is to whether KnC customers are consumers. That's a preliminary issue that needs to be resolved as first.

DEFINITION OF 'UNFAIR TRADE PRACTICE'
Using various deceptive, fraudulent or unethical methods to obtain business. Unfair trade practices include misrepresentation, false advertising, tied selling and other acts that are declared unlawful by statute. It can also be referred to as deceptive trade practices.

I don't disagree I just think that KNC has the $$$ to stop this all in its tracks for YEARS....via lawyers etc

I mean we can't even get www.coinbase.com to make a report on KNC actions.....with that as an example ...they did not even go after BFL till recently

the bitcoin press needs to get on this ..but no one wants to piss off the big giant KNC corp

and don't forget most Titan and 3rd batch owners only have 90 day warrenty...KNC just has to string this along so long till the warrenty runs out

and the way the stuff seems to be built seems very likely they may barely last 90 days of kinda working

again with the buiness designation the only option is to sue for damages etc let the courts work it out which is why knc calls bitcoin mining a buinsess in the first place

again they blindsided us by going to the dark side quickly this last year.....and likely will never admit they did anything wrong in as to not

put in jeopardy their large class A and class B multi million dollar arctic cloud investors catching wind of this scam....thus they will tie this up in court forever imho


on a side note

the problem also is if the dang Titan worked at 300mh ....did multi-pool.....could handle new fast block coins w/o locking up....did not catch on fire...did not have
the constant reboots and dead die issues.....etc

we STILL likely would have gotten only 1/2 our purchase price back under the above no refund we are a business scenario


the fact that they are shoving a product that does not work out the door asap to get under their timeline they set...offering no support except that it is the 'pools fault' tm knc
denying that anything is wrong...is the real slap in the face....it shows knc's true colors that they can't even live up to their own business to business options

they are out of consumer product biz ..they plain don't give a f*ck about customers of their last bit of equipment....

that is what puts it over the top for me...the DENIAL that they have issues ..just ship the shitty product out anyway..it only has a 90 day warrenty by the time you send it back after fiddling around with their supposed fixes or attempst to fix say 3wks to month shot..lose another month on RMA get it back still don't work..you have 1 month left on warrenty no reason to ship it back ..by that point your screwed with a non-working device that will never really work anyway

90 warranty done knc walks.... again they offer no idea on when you get your product back when you RMA it...you could rma a cube back and not get it back till dec 2014 for example
assuming they really really tried to fix it to cover their ass..which at that point it is all moot anyway

so again even if we had a working product we'd be way way down to 1/2 of purchase price recovered...under current situation...w/o any real support from KNC we all will be lucky
limping along with some cubes that work at say 150mh speed etc ..baby sitting the unit to get 1/4 of our purchase price back

with NO RECOURSE from a consumer protection point of view with this fly by night 90 day warrenty clicking past imho

by the by I asked KNC if I was under the 90 day warranty (march 27th) or 1 year warranty...they said it depends WHEN  you ordered and what the TOS says..they of course refuse to state
when the TOS was changed from 1 year to 90 days..in that their current TOS is 90 days ...would not want to clear that up ...in case someone with a 1 year warrenty was to
try to RMA something after 90 days look at the tos and assume he could not

and then again when you ask KNC could just plain ass lie and use any date they wanted to say NOPE your not under it

so anyone have any real idea on when they changed the TOS...i'm sure they know..but they sure as hell won't tell me ..just a line of " if the TOS said 1 year when you ordered you have 1 year" email reply

well we will see what the next couple weeks bring..this last week it is the fact the crappy SD cards they use are failing and no real fix since 1.04 (which don't work I gather)

this could continue to degrade to even more of a farce it equip continues to fail at this rate

whatever...please post a link of a good link to a good brand SD card type 10 is it? I have instructions on how supposedly to do this...but no idea what type 10 sd cards means etc

probably should get one or two of them and flash them in anticipation of the crappy ones they will send and just be prepared

FML

Searing


 

[l3sny]

Wel....

Take it easy with NOVA.

I got a letter from them and they are asking for the money first. No word of the client care policy, no win no fee or anything. Lets wait before we embark on this.

[cryptodaknight]

The evidence KNC has screwed people is so large I cannot see why there would not be a lawyer that would go after them, they made 200 million off the backs of us, the peoples money.

This is no small potatoes crime here, it's huge. You can buy some cars for the price of one of these KNC titans they have not shipped or if they have don't work.

I think it's safe to say, with such large amount of evidence of wrongdoing, WHY wouldn't a lawyer get involved? This would be a big case with very very large settlement. So what if KNC has money for lawyers, the pile of $$$ that they are sitting on is 1/5 billion dollars just in one year alone.

Yeah, these guys need to be taken down, plain and simple. We need more press releases on this situation.

[l3sny]

Did they advertise it as experimental products? You cannot sell experimental products to the consumers no matter what label you put on the box.
The problem is that this has to be yet assessed by a judge. Apart from consumer's protection there are unfair market practices in which case even a business has a right to protection.

DEFINITION OF 'UNFAIR TRADE PRACTICE'
Using various deceptive, fraudulent or unethical methods to obtain business. Unfair trade practices include misrepresentation, false advertising, tied selling and other acts that are declared unlawful by statute. It can also be referred to as deceptive trade practices.

they say it is a business to business transaction..... under EU law


from what I understand this includes experimental devices or devices not suitable for consumers (bitcoin miners are not a big consumer product)

anyway others on here have posted such...they can chime in

but essentially imho that is why knc is saying it is a biz to biz transaction..the fact we have to supply our own power supply (not what a consumer would expect)
bitcoin miners (not a traditinal consumer product) the fact we agreed in the TOS....they fact KNC states all bitcoin mining is a buiness no one does it for a hobby

anyway others feel free to hop  on here..but that is the POSITION knc is taking imho

not that it flies well imho ..but they are resisting all efforts to conform to consumer law in the EU ....sucessful or not that is the track they have been taking

from what I can tell from posts here and on knc forums and such

I'd like to be wrong by the by..... but don't think they are gonna budge from that or we could just send back the units w/in 14 days under what I think is EU
consumer law...if you do so now knc states they simply will send it back and charge you postage w/o accepting it...this is also true of any RMA you send
w/o getting permission to sent it to them first

what they say does not constitute a mutually valid contract. At least you would need to sign a waiver of your consumer rights at the purchase. I know it is in TandC to some extent. It reads:

1.2   The Products are sold for business use only and Purchaser hereby accepts that it has purchased the Products in order to conduct a business.

So it does not waive the consumer's rights strictly. I doubt it is possible to change someone's status by including this in their TandC. In my opinion it owuld not have any effect. Moreover KnC has confirmed it is running a business for the consumers in respect of the cloud mining and consumer's rights are clear cut there.

This would actually create a sort of double standards as those who hosted with KnC may be consumers and those who asked for delivery not but let's leave it for the judge.

The issue with power supply is irrelevant. I can buy a toy in the shop and it has no battery. I can buy a computer that needs PSU and will be protected.

The thing with 14 days return is correct. I demanded it and received no response at all. In my case these were Jupiters in 2013.