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Author Topic: Swedish ASIC miner company kncminer.com  (Read 3039365 times)
s1gs3gv
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October 22, 2014, 11:35:19 AM
 #38761

Poorly planned and badly executed attempts at legal action against KNC could compromise subsequent attempts by more competent parties by setting legal precedent that KNC could use to later argue in their favor.

Retaining a competent Swedish lawyer who can review available information and provide sound advice on cost, strategy, timelines and probability of success is essential to a successful action.

Before this can be done, KNC customers need to organize and estimate the resources they have available to support the cost of proceeding. If adequate resources are available, then a plan needs to be created which:

a) Identifies a suitable escrow party to hold the funds
b) Identifies a strategy to select an appropriate legal representative in Sweden
c) Nominates one or more representatives to choose and coordinate with the Swedish legal advisor and communicate with participants
d) Identifies a decision making process whereby information obtained from the Swedish legal representative can be evaluated and a group decision made with respect to proceeding with or abandoning legal action against KNC
e) Identifies a methodology for distribution of responsibility for unplanned costs or, in the case of an adverse outcome, for any costs of a judgement against the group
f) Identifies a methodology for initiation of a collection action against KNC in the event of successful action
g) Identifies a methodology for equitable distribution of any such award

Personally, I don't see this likely to happen in this community. And I don't think individual attempts at actions against KNC are practical due to the costs involved. Maybe with luck the Swedish consumer protection agency will do the right thing and kick KNC around the block a few times and shame them badly and KNC will realize it is less costly to refund us than to embarrass the entire nation with their sociopathic behavior towards their customers.

Or maybe we'll get a good BTC crash around Xmas and it'll put KNC out of business permanently.


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October 22, 2014, 11:47:38 AM
 #38762

Now that a few Titans have been in the field for a month, we are starting to get a feel for what the KNC RMA process is like. It isn't pretty.

kncnews.org/rma
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October 22, 2014, 01:11:32 PM
 #38763

Well its been a full month now since KNC announced that they had started shipping the Titan (Q2/Q3, well within Q3 LOL) and I'm still waiting for my Titan, payment received 3/21. They have now had my hard earned $10000 for a full 7 months. The only thing I have received from KNC is a ban from their forums.

The implied warrantees of merchantability and fitness for purpose which exist on all commercial goods can not be voided by KNC claims of a non-refund policy.

The Titan is a faulty product which is unsafe to operate as shipped and has not been delivered in the promised timeframe.

The best you can say about it is that it mines some scrypt coins some of the time on some pools for some people, for a while before exhibiting reliability problems.

Kurt's claims of a 'silent majority' of satisfied Titan owners whom nobody has seen or heard of is unsubstantiated. His past employment with Fantasy Interactive" ( http://se.linkedin.com/in/kurt667 ) has obviously prepared him well for his current position.

KNC won't be selling anyone I know in the crypto mining world another product, ever.

problem is the KNC does not PLAN to ever sell a physical equip product again ever.....thus is why they think they can get away with this last act of greed

It is disgusting, considering that the customers financed them completely in the beginning, taking all risk on the R&D by paying up front.

Now that they have a massive venture capital injection, they've left us for dead.

I'm so pissed too. They take our money and run? Where is my titan refund? Never got shipped one. But they are using our funds to build a multimillon dollar datacenter mining operation?Huh WTF.

WE NEED TO SUE THIS COMPANY OUT OF BUSINESS AND HAVE THEIR 200 MILLION PLUS GIVEN BACK TO THE CUSTOMERS THAT THEIR MONEY WAS USED LIKE VC TO FUND THEIR CORRUPT OPERATION THEY CALL A LEGIT BUSINESS.

They think the moolah situation is bad??? Just wait, This one is sooooo much bigger and in dollars stolen, (I CONSIDER ALL THEIR PROFIT OURS, AS IT WAS ARE VC CAPTIAL THEY USED LYING TO US) and should be sued out of business.
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October 22, 2014, 01:35:09 PM
 #38764

If you haven't signed up, please do so. Lets show KNC we mean business!!!

http://www.kncrefund.com/

Retweet to spread the word

https://twitter.com/KNCRefund
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October 22, 2014, 02:01:26 PM
 #38765

Now that a few Titans have been in the field for a month, we are starting to get a feel for what the KNC RMA process is like. It isn't pretty.

kncnews.org/rma

When they don't currently have any chips to build RMA replacements, they can't do RMAs. First batch chip yields were horrible, even KnC admitted as much. They are waiting for more while the unlucky customers lose money.
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October 22, 2014, 02:03:40 PM
 #38766


 [2014-10-22 14:01:57] KNC 0[2-2] Flushing stale works (New work)
 [2014-10-22 14:01:58] KNC 0[2-3] Flushing stale works (New work)
 [2014-10-22 14:01:58] KNC 1[3-0] Flushing stale works (New work)
 [2014-10-22 14:01:58] KNC 1[3-1] Flushing stale works (New work)
 [2014-10-22 14:01:58] KNC 1[3-2] Flushing stale works (New work)
 [2014-10-22 14:01:59] KNC 1[3-3] Flushing stale works (New work)
 [2014-10-22 14:02:00] KNC 0[2-0] Flushing stale works (New work)
 [2014-10-22 14:02:00] KNC 0[2-1] Flushing stale works (New work)
 [2014-10-22 14:02:00] KNC 0[2-2] Flushing stale works (New work)
 [2014-10-22 14:02:01] KNC 0[2-3] Flushing stale works (New work)
 [2014-10-22 14:02:01] KNC 1[3-0] Flushing stale works (New work)
 [2014-10-22 14:02:01] KNC 1[3-1] Flushing stale works (New work)
 [2014-10-22 14:02:01] KNC 1[3-2] Flushing stale works (New work)
 [2014-10-22 14:02:02] KNC 1[3-3] Flushing stale works (New work)
 [2014-10-22 14:02:05] Stratum from pool 0 detected new block
 [2014-10-22 14:02:06] KNC 0[2-0] Flushing stale works (New work)
 [2014-10-22 14:02:06] KNC 0[2-1] Flushing stale works (New work)
 [2014-10-22 14:02:06] KNC 0[2-2] Flushing stale works (New work)
 [2014-10-22 14:02:07] KNC 0[2-3] Flushing stale works (New work)
 [2014-10-22 14:02:07] KNC 1[3-0] Flushing stale works (New work)
 [2014-10-22 14:02:07] KNC 1[3-1] Flushing stale works (New work)
 [2014-10-22 14:02:08] KNC 1[3-2] Flushing stale works (New work)
 [2014-10-22 14:02:08] KNC 1[3-3] Flushing stale works (New work)
 [2014-10-22 14:02:12] Stratum from pool 0 detected new block
 [2014-10-22 14:02:13] KNC 0[2-0] Flushing stale works (New work)
 [2014-10-22 14:02:14] KNC 0[2-1] Flushing stale works (New work)
 [2014-10-22 14:02:14] KNC 0[2-2] Flushing stale works (New work)
 [2014-10-22 14:02:14] KNC 0[2-3] Flushing stale works (New work)
 [2014-10-22 14:02:14] KNC 1[3-0] Flushing stale works (New work)
 [2014-10-22 14:02:15] KNC 1[3-1] Flushing stale works (New work)
 [2014-10-22 14:02:15] KNC 1[3-2] Flushing stale works (New work)
 [2014-10-22 14:02:15] KNC 1[3-3] Flushing stale works (New work)
 [2014-10-22 14:02:18] Stratum from pool 0 detected new block
 [2014-10-22 14:02:19] KNC 0[2-0] Flushing stale works (New work)
 [2014-10-22 14:02:19] KNC 0[2-1] Flushing stale works (New work)
 [2014-10-22 14:02:19] KNC 0[2-2] Flushing stale works (New work)
 [2014-10-22 14:02:20] KNC 0[2-3] Flushing stale works (New work)
 [2014-10-22 14:02:20] KNC 1[3-0] Flushing stale works (New work)
 [2014-10-22 14:02:20] KNC 1[3-1] Flushing stale works (New work)
 [2014-10-22 14:02:21] KNC 1[3-2] Flushing stale works (New work)
 [2014-10-22 14:02:21] KNC 1[3-3] Flushing stale works (New work)
 [2014-10-22 14:02:25] KNC 0bgm[2:1:273]: Got nonce for unknown work in slot 10



And this is the mining with TITAN ..

fuc**n shit !
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October 22, 2014, 02:06:02 PM
 #38767


 [2014-10-22 14:01:57] KNC 0[2-2] Flushing stale works (New work)
 [2014-10-22 14:01:58] KNC 0[2-3] Flushing stale works (New work)
 [2014-10-22 14:01:58] KNC 1[3-0] Flushing stale works (New work)
 [2014-10-22 14:01:58] KNC 1[3-1] Flushing stale works (New work)
 [2014-10-22 14:01:58] KNC 1[3-2] Flushing stale works (New work)
 [2014-10-22 14:01:59] KNC 1[3-3] Flushing stale works (New work)
 [2014-10-22 14:02:00] KNC 0[2-0] Flushing stale works (New work)
 [2014-10-22 14:02:00] KNC 0[2-1] Flushing stale works (New work)
 [2014-10-22 14:02:00] KNC 0[2-2] Flushing stale works (New work)
 [2014-10-22 14:02:01] KNC 0[2-3] Flushing stale works (New work)
 [2014-10-22 14:02:01] KNC 1[3-0] Flushing stale works (New work)
 [2014-10-22 14:02:01] KNC 1[3-1] Flushing stale works (New work)
 [2014-10-22 14:02:01] KNC 1[3-2] Flushing stale works (New work)
 [2014-10-22 14:02:02] KNC 1[3-3] Flushing stale works (New work)
 [2014-10-22 14:02:05] Stratum from pool 0 detected new block
 [2014-10-22 14:02:06] KNC 0[2-0] Flushing stale works (New work)
 [2014-10-22 14:02:06] KNC 0[2-1] Flushing stale works (New work)
 [2014-10-22 14:02:06] KNC 0[2-2] Flushing stale works (New work)
 [2014-10-22 14:02:07] KNC 0[2-3] Flushing stale works (New work)
 [2014-10-22 14:02:07] KNC 1[3-0] Flushing stale works (New work)
 [2014-10-22 14:02:07] KNC 1[3-1] Flushing stale works (New work)
 [2014-10-22 14:02:08] KNC 1[3-2] Flushing stale works (New work)
 [2014-10-22 14:02:08] KNC 1[3-3] Flushing stale works (New work)
 [2014-10-22 14:02:12] Stratum from pool 0 detected new block
 [2014-10-22 14:02:13] KNC 0[2-0] Flushing stale works (New work)
 [2014-10-22 14:02:14] KNC 0[2-1] Flushing stale works (New work)
 [2014-10-22 14:02:14] KNC 0[2-2] Flushing stale works (New work)
 [2014-10-22 14:02:14] KNC 0[2-3] Flushing stale works (New work)
 [2014-10-22 14:02:14] KNC 1[3-0] Flushing stale works (New work)
 [2014-10-22 14:02:15] KNC 1[3-1] Flushing stale works (New work)
 [2014-10-22 14:02:15] KNC 1[3-2] Flushing stale works (New work)
 [2014-10-22 14:02:15] KNC 1[3-3] Flushing stale works (New work)
 [2014-10-22 14:02:18] Stratum from pool 0 detected new block
 [2014-10-22 14:02:19] KNC 0[2-0] Flushing stale works (New work)
 [2014-10-22 14:02:19] KNC 0[2-1] Flushing stale works (New work)
 [2014-10-22 14:02:19] KNC 0[2-2] Flushing stale works (New work)
 [2014-10-22 14:02:20] KNC 0[2-3] Flushing stale works (New work)
 [2014-10-22 14:02:20] KNC 1[3-0] Flushing stale works (New work)
 [2014-10-22 14:02:20] KNC 1[3-1] Flushing stale works (New work)
 [2014-10-22 14:02:21] KNC 1[3-2] Flushing stale works (New work)
 [2014-10-22 14:02:21] KNC 1[3-3] Flushing stale works (New work)
 [2014-10-22 14:02:25] KNC 0bgm[2:1:273]: Got nonce for unknown work in slot 10



And this is the mining with TITAN ..

fuc**n shit !


Please line only LTC and the Pools we tell you to use  Grin

Seriously, Titan cannot mine coins with fast blocks and quick diff changes. They can say it's not true all they want...BUT THEY KNOW IT'S TRUE.
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October 22, 2014, 02:09:27 PM
 #38768

I know, You know it .. but knc probably not take it personally.
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October 22, 2014, 02:36:54 PM
 #38769

I think the whole 'urgent setwork' aka flush latency issue with the titan is going to turn out to be its achilles heel. if you look at the comments in the changelog for one of the first bfgminer releases, a knc engineer says that the DC/DC subsystem "doesn't like urgent setwork. don't do it !"

IMO this implies some kind of DC/DC hardware issue or rPI/DC/DC/PMbus performance issue that will make it very hard for KNC to fix this problem.

If they can't fix it, then the Titan can not meet the advertised purpose of being fit for 'any scrypt application'.
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October 22, 2014, 02:40:34 PM
 #38770

I think the whole 'urgent setwork' aka flush latency issue with the titan is going to turn out to be its achilles heel. if you look at the comments in the changelog for one of the first bfgminer releases, a knc engineer says that the DC/DC subsystem "doesn't like urgent setwork. don't do it !"

IMO this implies some kind of DC/DC hardware issue or rPI/DC/DC/PMbus performance issue that will make it very hard for KNC to fix this problem.

If they can't fix it, then the Titan can not meet the advertised purpose of being fit for 'any scrypt application'.


Exactly, absolutely agree with you. Having examined how their gear works, their method of flushwork is undermining the machine's ability to work. It's spending more time flushing than mining. It may have been an engineering shortcut, to design the system to closely to the SHA256 setup (whose original design was for bitcoin's long blocks), but it's crippling scrypt.

I remember when I ran my KNC hardware on 'fast block' sha256 altcoins, and similar issues appeared. Hashrates fluctuated wildly, sometimes it sat there doing very little work. Some of it was attributed to the back end of the pool, but flushwork was and has been an issue for KNC.

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October 22, 2014, 03:29:10 PM
 #38771

They delete post and ban User


No information about the delivery or product stability
Today, 03:06 PM
soon you will meet this guy

http://www.nova.se/en/employees/magnus-daar-2/

and your artic cloud will be closed

http://www.bloomberg.com/news/2014-1...ing-prize.html
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October 22, 2014, 03:32:05 PM
 #38772

Excerpt from a recent Sam Cole Interview:

Quote
“When we don’t have these customers buy our hardware it becomes a different business model. It becomes much easier, much more open, much more honest,” Cole said in a phone interview. “There’s still going to be $2 billion, at today’s price, mined in the next few years. That’s a lot of cash that’s up for grabs, and we’re going to do our best to take a decent chunk of it.”

I feel lied too. I feel abused. I feel RAPED.

https://www.cryptocoinsnews.com/kncminer-ditches-customers-favor-mining-bitcoin-litecoin-themselves/


I tried posting this TWICE on KNC Forums and both times my posts were IMMEDIATELY deleted, presumably by Kurt of KNC.
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October 22, 2014, 03:46:18 PM
 #38773

I have no basis for this, but I'm figuring the yields were so bad that there were not enough decent ones in the first batch of chips to fulfill the first batch of miner orders...

Au Contraire.

Hard for batch 1 Titan customers to get a good set of cubes with you fucking shameless pigs that is KNC are mining with excellent running cubes by picking and choosing and us paying customers get the scrap leftovers. Total A1 Fact.

This is the real fucking truth.

So sick (like real sick, not "good" sick) how KNC has self-degraded. Read the words of Sam Cole himself:

https://www.cryptocoinsnews.com/kncminer-ditches-customers-favor-mining-bitcoin-litecoin-themselves/

and:

http://www.bloomberg.com/news/2014-10-21/bitcoin-miner-ditches-clients-to-chase-2-billion-coding-prize.html
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October 22, 2014, 04:44:19 PM
 #38774

Yeah, now at last Sam Cole feels he can be honest LOL ...
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October 22, 2014, 04:56:30 PM
 #38775


I feel lied too. I feel abused. I feel RAPED.

Why don't you tell us how you really feel ?

Mind if I quote you on my page describing KNC Titan support practices ?  kncnews.org/support
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October 22, 2014, 10:26:23 PM
 #38776

Excerpt from a recent Sam Cole Interview:

Quote
“When we don’t have these customers buy our hardware it becomes a different business model. It becomes much easier, much more open, much more honest,” Cole said in a phone interview. “There’s still going to be $2 billion, at today’s price, mined in the next few years. That’s a lot of cash that’s up for grabs, and we’re going to do our best to take a decent chunk of it.”

Also says:
Quote
After bitcoin’s price collapsed from a high of more than $1,000 to lows of around $300 earlier this month, customers once eager to mine the digital currency have started to ask for their money back, according to KnC co-founder Sam Cole. Yet the pullback by individuals who had hoped to grow rich in their garages belies the potential for companies that have built up the scale to stick the course, he said.

So the Asscole is saying that he wants to go straight and be more honest, while at the same time saying that the problem is customers greed - trying to get rich quick in their basement.

Rather than the REAL problem which is knc failed to deliver what they promised - in hashing power (titan), in quality/safety(titan) and delivery schedule (neptune+titan), customer incentives (bonus rigs, neptune and titan). What a scammy cunt of a (sub)human being Asscole is.

"I am not The Avenger"
1AthxGvreWbkmtTXed6EQfjXMXXdSG7dD6
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October 23, 2014, 12:34:20 AM
 #38777

Excerpt from a recent Sam Cole Interview:

Quote
“When we don’t have these customers buy our hardware it becomes a different business model. It becomes much easier, much more open, much more honest,” Cole said in a phone interview. “There’s still going to be $2 billion, at today’s price, mined in the next few years. That’s a lot of cash that’s up for grabs, and we’re going to do our best to take a decent chunk of it.”

Also says:
Quote
After bitcoin’s price collapsed from a high of more than $1,000 to lows of around $300 earlier this month, customers once eager to mine the digital currency have started to ask for their money back, according to KnC co-founder Sam Cole. Yet the pullback by individuals who had hoped to grow rich in their garages belies the potential for companies that have built up the scale to stick the course, he said.

So the Asscole is saying that he wants to go straight and be more honest, while at the same time saying that the problem is customers greed - trying to get rich quick in their basement.

Rather than the REAL problem which is knc failed to deliver what they promised - in hashing power (titan), in quality/safety(titan) and delivery schedule (neptune+titan), customer incentives (bonus rigs, neptune and titan). What a scammy cunt of a (sub)human being Asscole is.

 Don't forget the refunds!  Many of us are still waiting for them to refund our money on cancelled Neptune orders.  Anyone still waiting should seriously think about giving "kncminer" some negative trust.  I know there are many other reasons to deal out negative trust and it is never too late - even if you think they wont be back here.

Sidehack is making progress! Buy him a burger to keep his energy up - 1BURGERAXHH6Yi6LRybRJK7ybEm5m5HwTr
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October 23, 2014, 12:35:35 AM
 #38778

Speaking of refunds, I just added a new topic to my website -> http://kncnews.org/refunds

 … and a section on shipping problems -> http://kncnews.org/shipping

Linking is encouraged for SEO reasons. i'd like to ensure that anyone searching for the term KNC reads kncnews.org
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October 23, 2014, 01:30:53 AM
 #38779

Speaking of refunds, I just added a new topic to my website -> kncnews.org/refunds

 That's a great site you've made!  It would be nice if you could note somewhere that there are still waiting for promised refunds on cancelled Neptune orders.  Here's what they wrote in August:

Quote from: kncminerwebsite
Markup If We're Late

Blah blah blah.... self-congratulatory crap, some boasting,  a few excuses and some lies

...However, we want satisfied customers and there is one area where we need to beef up our output: Neptune refund requests. Most refunds have already been taken care of but there is still a queue to work through. So we would like to share with you our compensation plan and you’ll see that we’ll penalize ourselves the longer a refund takes.

5-10 % Markup On Neptune Refunds

If your refund has not been sent before the start of September you will receive a 5% markup (i.e. if your requested refund order stands at 10.000 USD we will refund you 10.500 USD).

If your refund has not been sent before the end of October you will receive 10% markup (i.e. if your requested refund order stands at 10.000 USD we will refund you 11.000 USD).

These markups will be added automatically to your refund amount, no matter which method of refund you have chosen.

We sincerely hope this line of action reassures customers waiting for a refund that we’re in this for the long haul.

Best,

The Knc Team, August 18, 2014, Stockholm.

 What a load of shit.  "We need to beef up our output but meh, fuk u, we aren't going to.  Instead we promise you more money until our time runs out at which point we will promise you something else or maybe offer you three Titans that were returned for RMA but we didn't bother fixing because again - fuk u you unnecessary customer.  We don't need no stinkin' customers, we simply need your money!  Afterall, we're in this for the long haul.

 

Sidehack is making progress! Buy him a burger to keep his energy up - 1BURGERAXHH6Yi6LRybRJK7ybEm5m5HwTr
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October 23, 2014, 09:42:17 AM
 #38780

This has probably been posted before but it is important....KNC today said (again I guess) the following posted by Kurt on KNC Forums

start

Hi,

As there has been some confusion in regards to the warranty period of each product, it has now been decided that batch 1 Titans and batch 1 and 2 Neptune miners are now applicable for 12 months warranty from the date of delivery.

To answer your questions specifically Pete, the terms and conditions are the same for all batches apart from the warranty period, which has now been set to 12 months for the aforementioned products/batches.

Kurt
 
end

below is the link to the reply to this question on forums


 http://forum.kncminer.com/forum/main-category/acccounts/65038-t-c-specific-to-each-batch-need-to-be-made-available-online


well hell it is not much...but it is something ...not that it will help a lot but let them stall your RMA back..but still

(I'm a NO ROI NO REFUND Titan 1st batch order)

anyway to those who don't follow KNC forums

















 

 

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BitBlender 

 













 















 












 
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