Swedish ASIC miner company kncminer.com

[cryptodevil]

There seems to be a great deal of misunderstanding as to what the B2B aspect of a Titan purchase actually means. Just because the B2C consumer laws might not be applicable, in that you can't just cancel your order because you changed your mind about it, it doesn't mean that KnC are allowed to ship a faulty product and roundly declare 'no refunds'.

The whole 'no refunds' aspect is for when a company has held up its end of the transaction but the consumer wants to cancel anyway. Under B2C they would still be able to cancel, whereas for B2B they would not.

But if a company is shipping shoddy, badly performing hardware, due to design or component failure, they can't just keep repeating 'no refunds'. Otherwise we could all set up shop as producers of gadget X which will [insert claim here] to a particular performance standard of [insert performance speed here] and then just buy in some cheap crap which barely functions to ship out to our gullible customers while crowing about how they don't get to complain because, well, "B2B, No Refunds, Bitches!!!!!11".

That's not what 'no refunds' regarding a B2B transaction means.

KnC fail to meet the standards required in this transaction. It is not their place to hide behind 'no refunds' as people are not cancelling on a whim, they are doing so because the product is not performing how they originally claimed it would when they took the orders and the money.

[1713573485]

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[1713573485]

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[1713573485]

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[1713573485]

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[1713573485]

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[TonyT]

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.

Well, you may be right about this company, I don't know all the facts, but in general I think the principle of "caveat emptor" applies when dealing with commercial transactions such as this.  For example, did KNC have better prices than the competition?  Well there might be a reason for that, see my views here: https://bitcointalk.org/index.php?topic=802645.msg9205822#msg9205822   (Butterfly Labs thread)

[l3sny]

@cryptodevil
You are absolutely right. But the main question is whether  KnC can unilateraly declare their clients are not consumers even if they put  in TandC that it is a business transaction. In other words is it possible to strip a person from their consumer protection rights? Even the banks have problems with it when it comes to filthy rich people;) I do not think it is possible given EU Directives but we need to see a counsel's opinion on that.

My personal view is that consumer's protection prevails.  This is simply more beneficial for the market of the products as a whole, provides more reliability on the part of the producers etc. I see no reason for any exemption.

[bitdigger2013]

photo storage

Well I thought I was ok with 2 PSU with stock AWG16 pci-e cables.

Above pic was from Strider 1200 Gold with stock AWG16 cables. It was running 2 of my 4 KNC Titan cubes.

[Searing]

photo storage

Well I thought I was ok with 2 PSU with stock AWG16 pci-e cables.

Above pic was from Strider 1200 Gold with stock AWG16 cables. It was running 2 of my 4 KNC Titan cubes.

it is pics like this that make me wonder if I should just put the Titan up on ebay unopened in box as in hand and just sell it

currently $4,800 usd seems to be the price for such according to ebay when I looked today

frigging take the $$$ put it in bitcoin and pray it all works out....

and remember I am a LEGAL miner in the USA (due to bank error had to prove I was legit and biz took 1 day but had to file to be on the up and up)

I CAN get 1/4 of my 10,131.80 purchase price back of $2532.95 back over 5 years according to 2013 irs guidelines (computer equip)

but lately looking at this crap even if I got it and it only mined half assed (say 1/4 purchase price back mining) and the above...it prob would not amount

to more then 4.8k anyway ..so why go thru all that angst to get to the same boat plus elec of around $140 usd a month at 1300w at 0.15c/kwh

KNC is going to fight this in court till the 'heat death of the universe" to protect their reputation to get arctic cloud class A and B big $$$ investors

this is also imho why no one ..coindesk ..the rest of btc press...or lawyers don't want to fight KNC they will never 'settle' thus no easy $$ for a class
action or such

with a 90 day warranty..and from the lack of effort getting the Titans fixed...(look at the git hub archives on knc firmware have done zip)

they are just gonna get them out the door 1/2 assed working imho ...tell you to RMA if you don't like it (with email saying they have no idea when
you get the cube(s) back ...and basically wait for the 90 day warrenty to wind down and walk

nothing makes sense otherwise.....with no refunds and the you are a business defense (and no replies to email if you ever send them and email saying you want
a refund ..good luck on RMA then)...they are just letting the rubber band wind down 90 days....and then they will wash hands of the works completely

remember with BTC down ..them working on 16mm for their actic cloud..the danger to not getting investors class A and class B on said farm and the rest

no frigging way..they will fight this till their last breath...thus the lack of swedish lawyers and others that will touch this...

i just see no way we can get redress in time with their 90 day warrenty and just stonewalling....by them..they have all the cards it seems ....pressure
via PR or the press or whatever does not matter......they MUST protect their class A and class B investors and say we are full of it....at current BTC
prices..they likely are not doing too hot at that end either

hope I am completely wrong but nothing seems to be breaking our way ......indeed the equip looks crappier (likely won't last past 90 days) and they
already have been deleting my posts on knc forums and threatened to ban me for spreading FUD as they put it...

(i asked if 90 warrenty could be started after they got the firmware stable.....sheesh.....that is gonna get me the threat of banning ..i've said worse on there)

so it is all about $$$ they plain ass probably don't have any to give back and are likley plain ass scared if they admit failure it would put their arcitc cloud

big boy investors on edge

nope unless there is some Swedish equiv of FTC or some such that steps in ...they will play this out till the 90 days wind down and walk w/o something
like that...they have no reason at all do worry about our efforts

again I really hope I'm full of it...the more we squeak (even reasonable how long to RMA when does the 90 day TOS change started etc) they just clamp

down harder...if they had any sense at all they would close down their forums completely only NON reply via email and isolate us all (expect that soon imho)

[Searing]

by the way seeings how supposedly the micro SD cards or whatever that come with the Titan are crap ...I should just probably flash a replacement
before the Titan even ships (have instructions for that)

would this be what I want (have no frigging clue on SD card stuff)

http://www.ebay.com/itm/SanDisk-64GB-microSDXC-64G-microSD-Extreme-45MB-micro-SD-SDXC-UHS-Class-10-R10W-/181560033032?pt=US_Cellphone_Memory_Cards&hash=item2a45d23f08

if so I may just get one now and flash it ahead of time.....in that you go to www.kncforums.com and the ones KNC sends seem to all degrade over time

i gather the above class 10 is the best i can get and I also assume 64gb is good or do I need something bigger or something else entirely?

thanks post here for others in my boat on playing 'guess wtf is gonna go wrong next" with your Titan order (already got the www.shakmods.com 16awg cables that MAY
help? or not)

only can do what I can do in anticipation of the doorstop/space heater NO refund NO ROI Titan when it arrives don't ya know

thank god I can take 1/4 of the purchase price back in equip depreciation over 5 yrs as a virtual currencey biz under IRS quidelines 2013
(for those equip heavy talk to a CPA you may want to go legal ..me was stuck into it due
to prove i was legit on bank error...but wtf do i know with btc price tanked and if you have enough equip or titan(s) maybe your CPA would say go legal fyi)

Searing

[poodle63]

Still knc not respond this issue, they are really firm.

Or may be they just setting thing right for us, hope they can ship all orders next week with right version, cheers!

[5craziest]

photo storage

Well I thought I was ok with 2 PSU with stock AWG16 pci-e cables.

Above pic was from Strider 1200 Gold with stock AWG16 cables. It was running 2 of my 4 KNC Titan cubes.

it is pics like this that make me wonder if I should just put the Titan up on ebay unopened in box as in hand and just sell it

currently $4,800 usd seems to be the price for such according to ebay when I looked today

frigging take the $$$ put it in bitcoin and pray it all works out....

and remember I am a LEGAL miner in the USA (due to bank error had to prove I was legit and biz took 1 day but had to file to be on the up and up)

I CAN get 1/4 of my 10,131.80 purchase price back of $2532.95 back over 5 years according to 2013 irs guidelines (computer equip)

but lately looking at this crap even if I got it and it only mined half assed (say 1/4 purchase price back mining) and the above...it prob would not amount

to more then 4.8k anyway ..so why go thru all that angst to get to the same boat plus elec of around $140 usd a month at 1300w at 0.15c/kwh

KNC is going to fight this in court till the 'heat death of the universe" to protect their reputation to get arctic cloud class A and B big $$$ investors

this is also imho why no one ..coindesk ..the rest of btc press...or lawyers don't want to fight KNC they will never 'settle' thus no easy $$ for a class
action or such

with a 90 day warranty..and from the lack of effort getting the Titans fixed...(look at the git hub archives on knc firmware have done zip)

they are just gonna get them out the door 1/2 assed working imho ...tell you to RMA if you don't like it (with email saying they have no idea when
you get the cube(s) back ...and basically wait for the 90 day warrenty to wind down and walk

nothing makes sense otherwise.....with no refunds and the you are a business defense (and no replies to email if you ever send them and email saying you want
a refund ..good luck on RMA then)...they are just letting the rubber band wind down 90 days....and then they will wash hands of the works completely

remember with BTC down ..them working on 16mm for their actic cloud..the danger to not getting investors class A and class B on said farm and the rest

no frigging way..they will fight this till their last breath...thus the lack of swedish lawyers and others that will touch this...

i just see no way we can get redress in time with their 90 day warrenty and just stonewalling....by them..they have all the cards it seems ....pressure
via PR or the press or whatever does not matter......they MUST protect their class A and class B investors and say we are full of it....at current BTC
prices..they likely are not doing too hot at that end either

hope I am completely wrong but nothing seems to be breaking our way ......indeed the equip looks crappier (likely won't last past 90 days) and they
already have been deleting my posts on knc forums and threatened to ban me for spreading FUD as they put it...

(i asked if 90 warrenty could be started after they got the firmware stable.....sheesh.....that is gonna get me the threat of banning ..i've said worse on there)

so it is all about $$$ they plain ass probably don't have any to give back and are likley plain ass scared if they admit failure it would put their arcitc cloud

big boy investors on edge

nope unless there is some Swedish equiv of FTC or some such that steps in ...they will play this out till the 90 days wind down and walk w/o something
like that...they have no reason at all do worry about our efforts

again I really hope I'm full of it...the more we squeak (even reasonable how long to RMA when does the 90 day TOS change started etc) they just clamp

down harder...if they had any sense at all they would close down their forums completely only NON reply via email and isolate us all (expect that soon imho)

Selling it on Ebay is probably the path to the smallest loss

[retro72]

There seems to be a great deal of misunderstanding as to what the B2B aspect of a Titan purchase actually means. Just because the B2C consumer laws might not be applicable, in that you can't just cancel your order because you changed your mind about it, it doesn't mean that KnC are allowed to ship a faulty product and roundly declare 'no refunds'.

The whole 'no refunds' aspect is for when a company has held up its end of the transaction but the consumer wants to cancel anyway. Under B2C they would still be able to cancel, whereas for B2B they would not.

But if a company is shipping shoddy, badly performing hardware, due to design or component failure, they can't just keep repeating 'no refunds'. Otherwise we could all set up shop as producers of gadget X which will [insert claim here] to a particular performance standard of [insert performance speed here] and then just buy in some cheap crap which barely functions to ship out to our gullible customers while crowing about how they don't get to complain because, well, "B2B, No Refunds, Bitches!!!!!11".

That's not what 'no refunds' regarding a B2B transaction means.

KnC fail to meet the standards required in this transaction. It is not their place to hide behind 'no refunds' as people are not cancelling on a whim, they are doing so because the product is not performing how they originally claimed it would when they took the orders and the money.

QFMFT.

Business or no business. KNC can't promise to sell you an orange then ship you a banana. Or in this case a lemon. But as they are bunch of greedy arseholes it will probably take legal action to remedy this.

[retro72]

Can you believe this shit?

Titan Reaching Higher Speeds


A KnCMiner Titan can easily reach 300+ MH/s on straight-forward litecoin scrypt mining, which is a major bump up from the advertised speeds at the time of ordering the product.But we've been working hard to also have the Titan mine at these stratospheric speeds on several of the largest pools on the scrypt networks, including coin-switching multipools.


The pool operators at Clevermining are currently working to implement several enhancements and configurations tailored for the Titan, and will automatically detect the Titan by examining the payload of the stratum protocol. These updates could become available as soon as this weekend, and at several different geographical server locations for lowest possible latency.


We're also working with and have tested our hardware against Coinotron and we are happy with the results so far. We have another few enhancements in development planned for release in the next few days.

In addition we're working with the embedded controller configuration to reduce flushwork to further increase speeds, and we've already made enhancements in the area. Those upgrades will be distributed in a new firmware update shortly, as we're waiting for the implementation of these new configurations at some of these pools.


We'll continue working with pool operators as we continue shipping Titans over the days and weeks coming and we'll update this space with more specific info as it becomes available.


For now, we're happy to conclude that there is no other hardware scrypt miner on the market coming close to the power of the Titan. Currently we have no units left for sale, but we'll update this space if that changes in the future.


Best, The KnC Team, October 17, Stockholm.

[unitedminers]

There seems to be a great deal of misunderstanding as to what the B2B aspect of a Titan purchase actually means. Just because the B2C consumer laws might not be applicable, in that you can't just cancel your order because you changed your mind about it, it doesn't mean that KnC are allowed to ship a faulty product and roundly declare 'no refunds'.

The whole 'no refunds' aspect is for when a company has held up its end of the transaction but the consumer wants to cancel anyway. Under B2C they would still be able to cancel, whereas for B2B they would not.

But if a company is shipping shoddy, badly performing hardware, due to design or component failure, they can't just keep repeating 'no refunds'. Otherwise we could all set up shop as producers of gadget X which will [insert claim here] to a particular performance standard of [insert performance speed here] and then just buy in some cheap crap which barely functions to ship out to our gullible customers while crowing about how they don't get to complain because, well, "B2B, No Refunds, Bitches!!!!!11".

That's not what 'no refunds' regarding a B2B transaction means.

KnC fail to meet the standards required in this transaction. It is not their place to hide behind 'no refunds' as people are not cancelling on a whim, they are doing so because the product is not performing how they originally claimed it would when they took the orders and the money.

QFMFT.

Business or no business. KNC can't promise to sell you an orange then ship you a banana. Or in this case a lemon. But as they are bunch of greedy arseholes it will probably take legal action to remedy this.

You're completely right! They offered a Titan in a Jupiter case and not 4 single cubes. So I guess they are in big trouble because all batch 1 customers got bananas instead of oranges

BTW Does anybody know why my Titan doesn't start anymore after a failed reboot?

[s1gs3gv]

would this be what I want (have no frigging clue on SD card stuff)

I think 8 GB would be plenty.

[s1gs3gv]

KNC 'customer care' policies contrast sharply with best practices in modern industry.

As an example, I ordered a gaming headset from Amazon a couple of weeks ago. After a few days it quit working. I filed for a refund and they supplied a UPS label. Within 2 hours of the UPS driver picking up my return I had an email from Amazon saying that they had credited my account for the refund. Yes, you read that right. Within 2 hours of the UPS driver picking up my package for delivery.

I'll be sure to purchase from Amazon again.

And I'll be sure to do everything I can to make sure that anyone considering purchasing a KNC product understands that they are very likely to receive a faulty, unreliable and unsafe product and that if they do KNC's notion of 'best practices' in customer care are to ignore difficult questions and avoid refunds at any cost to their reputation.

[cryptodaknight]

KNC 'customer care' policies contrast sharply with best practices in modern industry.

As an example, I ordered a gaming headset from Amazon a couple of weeks ago. After a few days it quit working. I filed for a refund and they supplied a UPS label. Within 2 hours of the UPS driver picking up my return I had an email from Amazon saying that they had credited my account for the refund. Yes, you read that right. Within 2 hours of the UPS driver picking up my package for delivery.

I'll be sure to purchase from Amazon again.

And I'll be sure to do everything I can to make sure that anyone considering purchasing a KNC product understands that they are very likely to receive a faulty, unreliable and unsafe product and that if they do KNC's notion of 'best practices' in customer care are to ignore difficult questions and avoid refunds at any cost to their reputation.

Most basic is GIVE A REFUND TO UNSHIPPED MERCHANDISE!! This not mentioning they are behind their schedule and anyone that has not been shipped to yet, should be full refund right? NOPE, they are refusing to. BTW, this is illegal for them to do in Sweden too.

[whisper]

Can you believe this shit?

Titan Reaching Higher Speeds


A KnCMiner Titan can easily reach 300+ MH/s on straight-forward litecoin scrypt mining, which is a major bump up from the advertised speeds at the time of ordering the product.But we've been working hard to also have the Titan mine at these stratospheric speeds on several of the largest pools on the scrypt networks, including coin-switching multipools.


The pool operators at Clevermining are currently working to implement several enhancements and configurations tailored for the Titan, and will automatically detect the Titan by examining the payload of the stratum protocol. These updates could become available as soon as this weekend, and at several different geographical server locations for lowest possible latency.


We're also working with and have tested our hardware against Coinotron and we are happy with the results so far. We have another few enhancements in development planned for release in the next few days.

In addition we're working with the embedded controller configuration to reduce flushwork to further increase speeds, and we've already made enhancements in the area. Those upgrades will be distributed in a new firmware update shortly, as we're waiting for the implementation of these new configurations at some of these pools.


We'll continue working with pool operators as we continue shipping Titans over the days and weeks coming and we'll update this space with more specific info as it becomes available.


For now, we're happy to conclude that there is no other hardware scrypt miner on the market coming close to the power of the Titan. Currently we have no units left for sale, but we'll update this space if that changes in the future.


Best, The KnC Team, October 17, Stockholm.

OMG! Where is the YouTube video proof of that? We wont to see multipool scrypt mining with 300mgh and killawat measure... and selfish smiles of both KnC

[l3sny]

KnC are notorious scammers

[bitdigger2013]

photo storage

Well I thought I was ok with 2 PSU with stock AWG16 pci-e cables.

Above pic was from Strider 1200 Gold with stock AWG16 cables. It was running 2 of my 4 KNC Titan cubes.

Oh and if the likely hood of burning down your house is not bad enough...this is what happens when you try to mine a fast coin...most any other coin then LTC...on the Titan

[2014-10-17 20:01:50] KNC 1[2-1] Flushing stale works (New work)
 [2014-10-17 20:01:50] KNC 1[2-2] Flushing stale works (New work)
 [2014-10-17 20:01:51] KNC 1[2-3] Flushing stale works (New work)
 [2014-10-17 20:01:51] Pool 0 stale share detected, submitting as user requested
 [2014-10-17 20:01:51] Rejected 00027cd4 KNC 0coh Diff 401m/15m (job not found)
 [2014-10-17 20:01:51] Pool 0 stale share detected, submitting as user requested
 [2014-10-17 20:01:51] Rejected 002c729a KNC 1bcd Diff 22m/15m (job not found)
 [2014-10-17 20:01:51] Pool 0 stale share detected, submitting as user requested
 [2014-10-17 20:01:51] Rejected 00060a13 KNC 1bmb Diff 165m/15m (job not found)
 [2014-10-17 20:01:51] Network difficulty changed to 36 (264.8M)
 [2014-10-17 20:01:52] Stratum from pool 0 detected new block
 [2014-10-17 20:01:54] KNC 0[1-0] Flushing stale works (New work)
 [2014-10-17 20:01:55] Network difficulty changed to 36 (261.7M)
 [2014-10-17 20:01:55] Stratum from pool 0 detected new block
 [2014-10-17 20:01:55] KNC 0[1-1] Flushing stale works (New work)
 [2014-10-17 20:01:55] KNC 0[1-2] Flushing stale works (New work)
 [2014-10-17 20:01:55] KNC 0[1-3] Flushing stale works (New work)
 [2014-10-17 20:01:55] Network difficulty changed to 36 (259.7M)
 [2014-10-17 20:01:56] Stratum from pool 0 detected new block
 [2014-10-17 20:01:56] KNC 1[2-0] Flushing stale works (New work)
 [2014-10-17 20:01:56] KNC 1[2-1] Flushing stale works (New work)
 [2014-10-17 20:01:56] KNC 1[2-2] Flushing stale works (New work)
 [2014-10-17 20:01:57] KNC 1[2-3] Flushing stale works (New work)
 [2014-10-17 20:01:57] Pool 0 stale share detected, submitting as user requested
 [2014-10-17 20:01:57] Rejected 0000a026 KNC 0azu Diff 1/15m (job not found)
 [2014-10-17 20:01:57] Pool 0 stale share detected, submitting as user requested
 [2014-10-17 20:01:57] Rejected 0037b977 KNC 1cev Diff 17m/15m (job not found)
 [2014-10-17 20:01:57] Network difficulty changed to 36 (257.9M)
 [2014-10-17 20:01:58] Stratum from pool 0 detected new block
 [2014-10-17 20:01:59] KNC 0[1-0] Flushing stale works (New work)
 [2014-10-17 20:01:59] KNC 0[1-1] Flushing stale works (New work)
 [2014-10-17 20:01:59] Network difficulty changed to 35 (255.4M)
 [2014-10-17 20:01:59] Stratum from pool 0 detected new block
 [2014-10-17 20:02:00] KNC 0[1-2] Flushing stale works (New work)
 [2014-10-17 20:02:00] KNC 0[1-3] Flushing stale works (New work)
 [2014-10-17 20:02:00] KNC 1[2-0] Flushing stale works (New work)
 [2014-10-17 20:02:00] KNC 1[2-1] Flushing stale works (New work)
 [2014-10-17 20:02:01] KNC 1[2-2] Flushing stale works (New work)
 [2014-10-17 20:02:01] KNC 1[2-3] Flushing stale works (New work)
 [2014-10-17 20:02:01] Pool 0 stale share detected, submitting as user requested
 [2014-10-17 20:02:01] Pool 0 stale share detected, submitting as user requested
 [2014-10-17 20:02:01] Rejected 000a2ff7 KNC 0aon Diff 98m/15m (job not found)
 [2014-10-17 20:02:01] Rejected 001743de KNC 0bal Diff 42m/15m (job not found)
 [2014-10-17 20:02:01] Pool 0 stale share detected, submitting as user requested
 [2014-10-17 20:02:01] Rejected 0017b352 KNC 1bkn Diff 42m/15m (job not found)
 [2014-10-17 20:02:02] KNC 0[1-0] Flushing stale works (New work)

[Searing]

Well latest post from KNC on their main page

still protecting their butts

link

https://www.kncminer.com/news/news-112


like the "300mh on straight forward litecoin scrypt mining" quote ...notice how they did not mention using a pool with this

the entire thing is to cover their butt

what a farce

[Discokruse]

http://s29.postimg.org/d6h6z5wjr/melted1.jpg
photo storage

Well I thought I was ok with 2 PSU with stock AWG16 pci-e cables.

Above pic was from Strider 1200 Gold with stock AWG16 cables. It was running 2 of my 4 KNC Titan cubes.

Did this one plug run 2 cubes?  AWG16 are rated to handle 16A if you have top shelf 90C rated wires.  4 cable pairs at 12V is a pretty simple power calculation:  4 x 12V x 16A = 768W

Each cube takes 350W.  2 of these should be lower than the 768W max of those power lines, but you probably didn't take into consideration the plug is rated at 13A.  This is why the melting started near the plug, not it any wire kink.  Each cube should take a single plug directly from the power supply...with its own plug...this means no sharing.  3 cable pairs x 12V x 13A = 468W.  More than enough to handle the 350W required by the cube.

2 pcie plugs would have been a seriously cheap solution.  I think the real solution is to remove the crappy plug and hardwire 2x 8AWG lines to bus bars.   

Lesson learned: KnC cut corners, but buyer beware.  Do the math and save your ass.

[mwizard]

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.

There are lots of reasons why a lawyer in the US would be reluctant to get involved.

1) The product was brought from a foreign country.  Generally when purchasing items over the internet from foreign countries it is a matter of "buyer beware".  

Local consumer protection laws only apply to products sold within a country or state.  Products imported from foreign companies only have to pass any customs import restrictions.

2) The product is not directly sold in the US.

3) There is no representative of the manufacturer in the US and no US distributor.  It would be almost impossible to have a state or federal court case in the US against a foreign company with no presence in the US.  

4) The product required a level of specialist knowledge to use.  It is not a normal consumer product.   It is also not a complete product as it requires additional components before it is usable.  

No lawyer would offer "no win/no pay" with little prospect of winning.  So someone would first need to put the lawyer on a retainer.

Finally KNC is not a huge company.  It recently raised 14 million dollars in funding but a "very very large settlement" is unlikely.  Bitfury server farms, for example, are many times larger than the KNC farms.