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Author Topic: Sam Cole and KNCMiner Scam  (Read 741 times)
mightyMight (OP)
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June 07, 2017, 11:15:08 AM
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I wonder if ever Sam Cole and his collegues are taken to justice for their scam. Anyone knows the numbers how many Kncminer customers have been cheated?
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Every time a block is mined, a certain amount of BTC (called the subsidy) is created out of thin air and given to the miner. The subsidy halves every four years and will reach 0 in about 130 years.
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June 07, 2017, 08:41:33 PM
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I wonder if ever Sam Cole and his collegues are taken to justice for their scam. Anyone knows the numbers how many Kncminer customers have been cheated?

Did anything ever come of this? I don't remember seeing anything.

They now run the Xbtprovider ETN listed in Sweden which isn't hugely reassuring considering their track record.
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June 08, 2017, 03:33:29 AM
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No, he was not.

http://www.coindesk.com/swedish-court-rules-against-kncminer-mining-hardware-customers/

Documents provided to CoinDesk show that the recent suit against KnCMiner ran into problems related to what rights as consumers those customers had. The court ruled on 29th April that the plaintiffs involved should be considered businesses, not consumers – a key determination that effectively cut them off from seeking redress from the consumer perspective.


 and it cost the plaintiffs even more money:

The court further ordered the plaintiffs to pay KnC’s legal costs, amounting to 772,000 krona, or approximately $93,000.


mightyMight (OP)
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June 08, 2017, 06:40:49 AM
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I wonder if ever Sam Cole and his collegues are taken to justice for their scam. Anyone knows the numbers how many Kncminer customers have been cheated?

Did anything ever come of this? I don't remember seeing anything.

They now run the Xbtprovider ETN listed in Sweden which isn't hugely reassuring considering their track record.
From what i see, those guys are not prosecuted and get away with it.
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