Swedish ASIC miner company kncminer.com

[The Avenger]

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.”

Also says:

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.

[xhomerx10]

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.”

Also says:

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.

[s1gs3gv]

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

[xhomerx10]

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:

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.

 

[Searing]

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

[Unacceptable]

Wow,KnC bends over backwards & gives you a 1 YEAR warranty....out of the kindness of their hearts....& you still complain

Just completely ungrateful,I see why KnC is dumping you small fry,chump change carrying fools 

[jelin1984]

if not received titan miner
what the reason of quarante

[Searing]

Wow,KnC bends over backwards & gives you a 1 YEAR warranty....out of the kindness of their hearts....& you still complain

Just completely ungrateful,I see why KnC is dumping you small fry,chump change carrying fools  

yep we are the ungrateful ones that is for sure........ruining their grand plans to control 20% of the bitcoin virtual mining market

with their arctic cloud (recent article)

can't let us pesky past customers get in the way of their future

(hard to phathom from knc's point of view why we are not 'groveling' in awe at their greatness don't ya know)

bit of disconnect with past customers and quality of current products don't ya know....hard for them in their 'godlike' persona now....

as Kurt likes to say ..to protect KNC against refunds etc "the equipment is NOT comsumer quality" TM KNC

[cryptodevil]

Yeah, I don't remember them describing the Titan as needing to be limited to mining on an approved range of pools in order function properly, either.

They seemed to have omitted that from the sales description while they were taking everybody's money earlier in the year.

[Searing]

Yeah, I don't remember them describing the Titan as needing to be limited to mining on an approved range of pools in order function properly, either.

They seemed to have omitted that from the sales description while they were taking everybody's money earlier in the year.

KNC has done much to cover their tracks.....I know understand why Bitcoinrama probably quit and probably signed a NDA....

20/20 hindsight is a bitch

 but on the other hand....they went from champ to chump awful fast...hard to guard against something like this when it is

a complete turn around and abandonment of customers

the key is here however ..they 'don't need us as customers' ..they likely realized this sometime last March when they decided

to go all out with their data halls ...from the frankenjupiter on we as customers were just 'used' to further their data hall projects

quite the 180 in my view

but hey what is the downside to the guys who made KNC ...more money and a few pissed off customers....its all good from their point of view

[mishax1]

Wow,KnC bends over backwards & gives you a 1 YEAR warranty....out of the kindness of their hearts....& you still complain

Just completely ungrateful,I see why KnC is dumping you small fry,chump change carrying fools 

Wow, are you kidding? or just an ignorant knc fan ?

[xhomerx10]

Yeah, I don't remember them describing the Titan as needing to be limited to mining on an approved range of pools in order function properly, either.

They seemed to have omitted that from the sales description while they were taking everybody's money earlier in the year.

KNC has done much to cover their tracks.....I know understand why Bitcoinrama probably quit and probably signed a NDA....

20/20 hindsight is a bitch

 but on the other hand....they went from champ to chump awful fast...hard to guard against something like this when it is

a complete turn around and abandonment of customers

the key is here however ..they 'don't need us as customers' ..they likely realized this sometime last March when they decided

to go all out with their data halls ...from the frankenjupiter on we as customers were just 'used' to further their data hall projects

quite the 180 in my view

but hey what is the downside to the guys who made KNC ...more money and a few pissed off customers....its all good from their point of view

 The downside is living with the guilt and shame of having wronged so many others.  All the players weren't bad in the beginning but were corrupted by others with bad intentions and living with shame has grave implications.  Money isn't the be-all and end-all; it can't repair the damage to your soul.  There is actually no point to their greed - they have simply created a race for themselves to capture more of the bitcoin network.  Seeking power and perfection is actually a manifestation of the feelings of shame - they are trying to compensate for their shame by preventing future shame.  Ultimately they will fail.

[s1gs3gv]

KNC has done much to cover their tracks.....I know understand why Bitcoinrama probably quit and probably signed a NDA....

Executive summary on Bitcoinorama please ?

[y_boonstra]

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

Lol,

They are situated in the EU so by law they are obligated to provide at least 2 years warrenty !!!

[jelin1984]

We must have first the Titan miner
 

[vesperwillow]

KNC has done much to cover their tracks.....I know understand why Bitcoinrama probably quit and probably signed a NDA....

Executive summary on Bitcoinorama please ?

Nice guy, came from the community, began investigating KNC from their day 1 and thought well of them, kept tabs on them for awhile (visiting them in person) and kept saying they check out. Eventually got picked up by them as a spokesperson, he did some conventions, would help provide the community some light technical support, even helped work on the assembly line for the first generation of gear.

Then something happened and his demeanor/volume of info changed, and he dropped off the face of BCT. From what I remember, he was fired/resigned (pick one) and signed a keep-your-mouth-shut contract.

That was all anyone needed to know about KNC from that day forward. This was around the time the first few 'caught openly telling lies' situations started occuring. If you go back far enough you can find his posts.

Last active back in May: https://bitcointalk.org/index.php?action=profile;u=104810

[unitedminers]

I have a Titan with 4 cubes which are working for a few seconds each at 260 watts but jump back to about 7 watts and don't really mine much. Firmware 1.03 or 1.04 with class 10 SD card doesn't change anything.

Is there any way to get the cubes back mining? Maybe by increasing volt for every die which are currently at -0.0366?

[yochdog]

I have a Titan with 4 cubes which are working for a few seconds each at 260 watts but jump back to about 7 watts and don't really mine much. Firmware 1.03 or 1.04 with class 10 SD card doesn't change anything.

Is there any way to get the cubes back mining? Maybe by increasing volt for every die which are currently at -0.0366?

At this point, I think we have firmly established that the Titan is a bonafide piece of shit, that does not work, and has a very good chance of catching on fire.  No amount of work by the customer can change that.

KNC is shipping defective gear, obfuscating the issue whenever possible, deflecting and delaying legitimate complaints, and is in blatant violation of EU law.

I for one cannot wait until their "BFL moment", when the whole thing comes crashing down and these assholes get whats coming.  And it is coming. 

Some very good legal professionals are already after them, and the numbers are multiplying.  Pretending they are exempt from the law will only work for these dip-shits for so long. 
 

[l3sny]

what legal professionls if I may ask?

[Micky25]

if not received titan miner
what the reason of quarante

thats probably the reason of Kurts post. From now on, every product we deliver will have a 12 month warranty. What you don't know yet: we won't deliver any more products.