Swedish ASIC miner company kncminer.com

[lowbander80]

its crazy they are still looking for more fool people to finance their past broken promises and build
their new center...
I wonder how much cloud they have sold so much
Not me not buying anything from KNC again

I will wait until my jupiters become collectibles!!!

[Biffa]

http://www.bloomberg.com/news/2014-10-21/bitcoin-miner-ditches-clients-to-chase-2-billion-coding-prize.html

...everyone should be leaving a nice message for knc since they have never been back here!

"KnC generates bitcoin at a cost Cole says is “significantly below $400” per unit."

How much were neptunes again? 10,000 USD? 

He means that it costs them significantly less than the current BTC cost to mine a single BTC not that it costs less than $400 to make a neptune.

[dziny]

He means that it costs them significantly less than the current BTC cost to mine a single BTC not that it costs less than $400 to make a neptune.

Correct, but it lets you estimate how much does it cost them to build a Neptune since the number of coins each Neptune will generate can be easily estimated. Multiply the number of the coins by a number "significantly less than $400" and that is their production price of a Neptune.

[murraypaul]

These guys are fighting hard for a class action lawsuit.

Are they?
Their blog has precisely one entry, where they redefine their practice from what it was previously (DUI, employment and immigration matters) to now claim to be cryptocurrency specialists.
What else have they done?
(I say 'they', but this seems to actually be a single practitioner firm.)
KMC are not a US company and have no US presence to be sued. As such, the entire thing would seem to be a waste of time.

http://web.archive.org/web/20130601092918/http://lincharlotte.com/

Welcome to the Law Office of Charlotte C. Lin
I am a California licensed attorney. I focus on administrative law (including immigration), and criminal defense (misdemeanor, traffic infractions, expungement).

http://lincharlotte.com/

Please check out each of our practice areas:

DUI | DMV

Traffic Tickets

Immigration

Employment

http://kncclassaction.com/

Law Office of Charlotte C. Lin represents cryptocurrency miners and participants throughout the globe, concentrating its practice in consumer protection class actions.

One of these things is not like the others, one of these things is not quite the same.

[Puppet]

ambulance chasing in the crypto world.

[s1gs3gv]

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.

[s1gs3gv]

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

[cryptodaknight]

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? 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.

[cryptodaknight]

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

[nightengale]

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.

[dexu]

 [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 !

[bitdigger2013]

 [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 

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.

[dexu]

I know, You know it .. but knc probably not take it personally.

[s1gs3gv]

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'.

[vesperwillow]

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.

[getro]

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

[sillywhim]

Excerpt from a recent Sam Cole Interview:

“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.

[sillywhim]

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

[s1gs3gv]

Yeah, now at last Sam Cole feels he can be honest LOL ...

[s1gs3gv]

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