Swedish ASIC miner company kncminer.com

[Puppet]

Offtopic:  Is it just me or does it seem that hardware prices are just picked out of a hat?  Fancy new miners are always north of $10000 and even the more economical ones are seemingly always priced above what they should make back (sans inc. in currency prices).

If they were priced below what they should earn back, why would they sell them?

They should probably be priced in BTC outright as that is what they earn and forgo any exchange rate ties altogether. Dividend stocks are in fiat as that is what they earn, it just makes more sense.  Apologies if you read this and found the early morning rambling, I need coffee.  

I only partially agree. First of all, manufacturer costs are in fiat, not btc, so pricing their hardware in BTC would be suicidal. Secondly, the amount of bitcoins that the machine will mine is also tied to the BTC exchange rate. If BTC exchange rate where to increase 10 fold in the next month, you can guess what would happen to the network hashrate, and therefore your BTC mining revenue.

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[AussieHash]

FYI
I have just made a complete copy of the whole KNC Forum! I will keep it updated day by day.

Since they no longer need nor want consumers any more, it makes sense that they'll take down their forum like cointerra.
http://www.reddit.com/r/Bitcoin/comments/2k73h2/knc_becomes_mining_corporation_and_stops_selling/

[notbatman]

FYI
I have just made a complete copy of the whole KNC Forum! I will keep it updated day by day.

Since they no longer need nor want consumers any more, it makes sense that they'll take down their forum like cointerra.
http://www.reddit.com/r/Bitcoin/comments/2k73h2/knc_becomes_mining_corporation_and_stops_selling/

"Suppose we find out that Monopoly Mining Inc. is evil... then what?" lol

[xhomerx10]

FYI
I have just made a complete copy of the whole KNC Forum! I will keep it updated day by day.

Since they no longer need nor want consumers any more, it makes sense that they'll take down their forum like cointerra.
http://www.reddit.com/r/Bitcoin/comments/2k73h2/knc_becomes_mining_corporation_and_stops_selling/

"Suppose we find out that Monopoly Mining Inc. is evil... then what?" lol

 Seriously, where have you been hiding?  They ARE!

[notbatman]

FYI
I have just made a complete copy of the whole KNC Forum! I will keep it updated day by day.

Since they no longer need nor want consumers any more, it makes sense that they'll take down their forum like cointerra.
http://www.reddit.com/r/Bitcoin/comments/2k73h2/knc_becomes_mining_corporation_and_stops_selling/

"Suppose we find out that Monopoly Mining Inc. is evil... then what?" lol

 Seriously, where have you been hiding?  They ARE!

I've been hiding in the Black Arrow thread, signed up an X3 right after the Jupiter shipped; still waiting almost a year later.  

[customminer]

I've asked for refunds dozens of times now, only to be given canned responses by natalie and kurt that they're not offering refunds due to the "relatively young nature of scrypt mining" and giving me a link to their TOS.
When I purchased this device, there was no indication that these were non-refundable.
I've been scammed, i've seen the light now though - POW is DEAD, DPOS/POS is the future. POW is centralized, and the power miners are these corrupt scam companies using suckers as their primary funding.
FUCK KNC, I hope Kurt gets a shitload of time in jail.

Hi,

Please review our terms and conditions which can be found here: https://www.kncminer.com/pages/tandc
Due to the relatively young nature of the scrypt mining market we are not currently offering refunds on our scrypt mining products.


Med vänlig hälsning |  Best regards

Kurt Radcliffe
Kncminer
www.kncminer.com

Office: +46 8559 253 20

Hi,

We are currently working through the production and shipping queue as quickly as possible according to the payment dates of the orders. Unfortunately I cannot provide a specific date or estimate at this time as the number of miners produced per day is constantly changing. As soon as your order is fully produced and shipped you will receive a UPS tracking number via email.

Please review our terms and conditions which can be found here: https://www.kncminer.com/pages/tandc
Due to the relatively young nature of the scrypt mining market we are not currently offering refunds on our scrypt mining products.


Best regards
Med vänlig hälsning

Natalie

Kncminer
www.kncminer.com
Office: +46 8559 253
20

[cryptodaknight]

I've asked for refunds dozens of times now, only to be given canned responses by natalie and kurt that they're not offering refunds due to the "relatively young nature of scrypt mining" and giving me a link to their TOS.
When I purchased this device, there was no indication that these were non-refundable.
I've been scammed, i've seen the light now though - POW is DEAD, DPOS/POS is the future. POW is centralized, and the power miners are these corrupt scam companies using suckers as their primary funding.
FUCK KNC, I hope Kurt gets a shitload of time in jail.

Hi,

Please review our terms and conditions which can be found here: https://www.kncminer.com/pages/tandc
Due to the relatively young nature of the scrypt mining market we are not currently offering refunds on our scrypt mining products.


Med vänlig hälsning |  Best regards

Kurt Radcliffe
Kncminer
www.kncminer.com

Office: +46 8559 253 20

Hi,

We are currently working through the production and shipping queue as quickly as possible according to the payment dates of the orders. Unfortunately I cannot provide a specific date or estimate at this time as the number of miners produced per day is constantly changing. As soon as your order is fully produced and shipped you will receive a UPS tracking number via email.

Please review our terms and conditions which can be found here: https://www.kncminer.com/pages/tandc
Due to the relatively young nature of the scrypt mining market we are not currently offering refunds on our scrypt mining products.


Best regards
Med vänlig hälsning

Natalie

Kncminer
www.kncminer.com
Office: +46 8559 253
20

Amen brother. Sign up for classaction lawsuit, this needs to be taken to court all the way, not compromises, as KNC is ruining cryptos.

[RoadStress]

What the fuck is this meaning?

Due to the relatively young nature of the scrypt mining market we are not currently offering refunds on our scrypt mining products.

What has the scrypt mining market have to do with getting a legal refund? Such morons...

[Pt0x]

Bonus Neptunes ...    When? 

  2015, maybe

[cryptodaknight]

What the fuck is this meaning?

Due to the relatively young nature of the scrypt mining market we are not currently offering refunds on our scrypt mining products.

What has the scrypt mining market have to do with getting a legal refund? Such morons...

Means they want to steal your money to fund biggest bitcoin farm on earth.

Like i keep saying, we need to really organize a class action lawsuit, with also money they made on top of our money mining BTC with our funds. This legally should be ours, and their ponzi scam should be known to all.

This company is the worst.

[-ck]

What the fuck is this meaning?

Due to the relatively young nature of the scrypt mining market we are not currently offering refunds on our scrypt mining products.

What has the scrypt mining market have to do with getting a legal refund? Such morons...

It has everything to do with why they did not offer refunds right from the start - they knew that ASIC mining would kill off scrypt coins and anyone who bought an scrypt ASIC would regret it. Legal or not is a different issue....

[RoadStress]

What the fuck is this meaning?

Due to the relatively young nature of the scrypt mining market we are not currently offering refunds on our scrypt mining products.

What has the scrypt mining market have to do with getting a legal refund? Such morons...

It has everything to do with why they did not offer refunds right from the start - they knew that ASIC mining would kill off scrypt coins and anyone who bought an scrypt ASIC would regret it. Legal or not is a different issue....

They could've simply said we don't issue refunds. Implying the young market is simply a retarded argument in my view. But it's KnC who took BFL road.

A very big FU Sam Cole and your whole team of scammers who are shitting on the very people that got them to this point!

[RealMalatesta]

Luckily, I got my refund from KNC long time ago. Pressure did the work.

Meanwhile, as I read in this forum, there are a couple of legal actions being prepared.

This is fine.

However, sometimes I get the impression as if a lot of the persons who were scammed do express their frustration here in the board, while not doing what should be done: Building up pressure.

The Bitcoin-press, unfortunately, isn't more than just a bunch of PR-guys who never learned how to do proper research. If a company like KNC sends them a press release, they publish it.

So if you want to go after KNC, go after the money. Put pressure on them. Make their deals sour. Kick their backers where it hurts.

Here some recommendations.

a) Look for the weakest spot at KNC. Do some research on the persons who send you e-mails. Do they exist? Some of them DO exist, some do not. And if you follow the trails of the existing persons, you find that some of them worked for companies who were involved - let me put it in a friendly way - not so ethical dealings.

b) Who can be hurt? Have you ever looked at gpbullhound? They have a US-based presence. So they are vulnerable against any and all lawsuits filed in the US. And they DO have the money for compensation.

c) Write on Twitter on gpbullhounds timeline. Statements like "gpbullhound is financing white collar ciminals" will also be read by the SEC. If a story about Bitcoin is written in financial blogs: Comment on them, pointing out that financial companies like gpbullhounds is backing a fraudulent operation in the Bitcoin-world and that senior Bitcoiners are outraged about this. Stuff like this will help to build pressure.

d) Has anybody ever looked at the gpbullhound/creandum/knc-deal? Look at who's working at Creandum. It seems as if some people at KNC knwe Creandum-people. It is well possible that this was a sweatheart deal for ripping off investors found by Creandum. So again: Put pressure into the public, let Creandum-clients know that there was a smelly deal financed with their money - a deal which may end sour.

This is not a game. This is serious fraud. And everyone who wants to go against the fraudsters must know that this won't be a cakewalk.

However, just looking a bit into the involved companies in this deal, I'm sure that every single miner who got ripped off by KNC can get the money back pretty quickly.

[Xian01]

they knew that ASIC mining would kill off scrypt coins and anyone who bought an scrypt ASIC would regret it. Legal or not is a different issue....

... I wonder if this ultimately means scrypt based stuff dies off altogether and Bitcoin becomes stronger for it ...

[-ck]

they knew that ASIC mining would kill off scrypt coins and anyone who bought an scrypt ASIC would regret it. Legal or not is a different issue....

... I wonder if this ultimately means scrypt based stuff dies off altogether and Bitcoin becomes stronger for it ...

No it won't die off altogether.

Altcoins were developed only so that people could mine on commodity hardware and it be impossible to mine on GPUs FPGAs ASICs... oh shit, why do they exist now?

People forget why they got into a movement in the first place and then once they have embraced it they lose sight of it and fail to see when that reason has gone. History has shown time and time again that also-rans like this never die off fully with the early adopters pushing it for ever more, ever hopeful, but ultimately futile.

[s1gs3gv]

they knew that ASIC mining would kill off scrypt coins and anyone who bought an scrypt ASIC would regret it. Legal or not is a different issue....

... I wonder if this ultimately means scrypt based stuff dies off altogether and Bitcoin becomes stronger for it ...

No it won't die off altogether.

Altcoins were developed only so that people could mine on commodity hardware and it be impossible to mine on GPUs FPGAs ASICs... oh shit, why do they exist now?

People forget why they got into a movement in the first place and then once they have embraced it they lose sight of it and fail to see when that reason has gone. History has shown time and time again that also-rans like this never die off fully with the early adopters pushing it for ever more, ever hopeful, but ultimately futile.

With tongue somewhat in cheek, this observation seems as true for bitcoin as scrypt coins at the moment.

[Cablez]

It does present a quandary as to where this will ultimately lead, scryptcoins or bitcoin?  The future is so clouded, who wants fiat/who wants bitcoin.  Can't we all just get along, lol?

[s1gs3gv]

3 day chart speaks for itself https://bitcoinwisdom.com/markets/bitstamp/btcusd

green => hope
red => dispair

[Searing]

Well this guy on KNC forum has not had a lot of luck with their supposed fix of version 1.05 firmware.

http://forum.kncminer.com/forum/main-category/main-forum/65403-review-of-titan-firmware-1-05

Also other posts state KNC plans to have all Titans out within 3 weeks.....so working or not seems to be the plan by KNC.

anyway for those too depressed to even go to check the KNC forums (it is getting harder and harder to read their FUD)

Searing

[s1gs3gv]

KNC is in propaganda mode. Refunding Titan owners would 'screw the pitch' as the Brit's say. Truth is the victim.

… and all the Titan customers who placed their hope and trust in KNC ...