[Group Buy] KNC Jupiter

[soniq]

Ok, Gauging interest for a GB for KNCminer Jupiters.

I have three preorder slots  less than 85 and 1 Mars slot. I am confirming from KNCminer that I can order 3 Jupiters with each slot, and one Jupiter with Mars slot.

Once I get approval from KNC I propose a GB with terms

-a minimum 5 BTC per share-  a share will be proportional to the total collective GB minus OP expenses and commissions
-miners will be hosted with KNC
-OP will receive 1% to 6% for organizing buy depending on how large or small GB
-will provide proof of identity


these are some preliminary ideas, accepting more ideas and terms

post or PM if you have any interest?

[Bitcoinorama]

Ok, Gauging interest for a GB for KNCminer Jupiters.

I have three preorder slots and 1 Mars slot. I am confirming from KNCminer that I can order 3 Jupiters with each slot, and one Jupiter with Mars slot.

Once I get approval from KNC I propose a GB with terms

-a minimum 5 BTC per share-  a share will be proportional to the total collective GB minus OP expenses and commissions
-miners will be hosted with KNC
-OP will receive 1% to 6% for organizing buy depending on how large or small GB
-will provide proof of identity


these are some preliminary ideas, accepting more ideas and terms

post or PM if you have any interest?

Dude they've dropped Mars...

[soniq]

Yes, but they are allowing to upgrade to Saturn or Jupiter with your Mars preorder

Dude they've dropped Mars...

[Bitcoinorama]

Yes, but they are allowing to upgrade to Saturn or Jupiter with your Mars preorder

Dude they've dropped Mars...

Ah gotcha.

[aigeezer]

Nice idea for spreading the risk. I'm still thinking about the overall situation. It's good to have choices.

[mvidetto]

I was originally enthusiastic about this company becoming a top notch asic manufacturer, but this lottery thing has lead me astray.  The whole thing is starting to smell scammy even though they have the reputation of ORSoC behind them... Be careful.

[soniq]

It is also possible that KNC has not invested in a good Public realtions firm(invested that money into R&D instead?) and is run by engineers and mathematicians

I was originally enthusiastic about this company becoming a top notch asic manufacturer, but this lottery thing has lead me astray.  The whole thing is starting to smell scammy even though they have the reputation of ORSoC behind them... Be careful.

[xwr213]

I am also think about buy one but it looked big risk.

[DPoS]

I am very close to making purchase but lots of scammy bits in this TandC (who writes TandC??  I am suppose to take all their conditions seriously and they call it TandC?   is that a way to say this isn't really terms and conditions or some such?

https://www.kncminer.com/pages/tandc



8.2  Where delivery is delayed due to any of the circumstances constituting force majeure in accordance with 11 below or due to any act or omission by the Purchaser, the delivery period shall be extended by such a period as is reasonable in light of the circumstances.  The delivery period shall also be extended where the cause of the delay arises after the expiry of the originally agreed delivery period.

 11. Force Majeure

11.1 KnCMiner is exempted from fulfilling its obligations under this Agreement and is entitled to cancel the Purchaser’s confirmed orders without any liability, in the event of force majeure such as strikes, floods and fires, wars, riots, interruptions in transport, shortage of material or energy sources affecting KnCMiner or its sub-suppliers, accidents or other occurrences which affects sub-suppliers’ production, bankruptcy or compulsory liquidation of a sub-supplier, accidents of any kind, governmental decisions which affects manufacturing or use of the Products and, in general, such events that were unforeseen at the time of the order which prevents or hinder manufacturing, transportation or delivery of the Products to the Purchaser.

also....... no compensation?  is that saying no refund too?  they really should be clear on that

9.2  Termination and rescission under this section shall not under any circumstances give rise to any obligation for KnCMiner to pay compensation to the Purchaser, and does not restrict KnCMiner’s possibility to claim damages or other economic compensation due to the event which justified KnCMiner to terminate the order or the Agreement.


....

ahh  time to sleep on it..  still have another day to get into the lottery..  

[soniq]

Yeah, I would like some clarification on this too, will send them an email

I am very close to making purchase but lots of scammy bits in this TandC (who writes TandC??  I am suppose to take all their conditions seriously and they call it TandC?   is that a way to say this isn't really terms and conditions or some such?

https://www.kncminer.com/pages/tandc



8.2  Where delivery is delayed due to any of the circumstances constituting force majeure in accordance with 11 below or due to any act or omission by the Purchaser, the delivery period shall be extended by such a period as is reasonable in light of the circumstances.  The delivery period shall also be extended where the cause of the delay arises after the expiry of the originally agreed delivery period.

 11. Force Majeure

11.1 KnCMiner is exempted from fulfilling its obligations under this Agreement and is entitled to cancel the Purchaser’s confirmed orders without any liability, in the event of force majeure such as strikes, floods and fires, wars, riots, interruptions in transport, shortage of material or energy sources affecting KnCMiner or its sub-suppliers, accidents or other occurrences which affects sub-suppliers’ production, bankruptcy or compulsory liquidation of a sub-supplier, accidents of any kind, governmental decisions which affects manufacturing or use of the Products and, in general, such events that were unforeseen at the time of the order which prevents or hinder manufacturing, transportation or delivery of the Products to the Purchaser.

also....... no compensation?  is that saying no refund too?  they really should be clear on that

9.2  Termination and rescission under this section shall not under any circumstances give rise to any obligation for KnCMiner to pay compensation to the Purchaser, and does not restrict KnCMiner’s possibility to claim damages or other economic compensation due to the event which justified KnCMiner to terminate the order or the Agreement.


....

ahh  time to sleep on it..  still have another day to get into the lottery..  

[MZD]

Lets say you get three Jupiters. How many GH/s will my 5BTC get me?

[soniq]

assuming a $120 exchange rate for BTC, one share would get you approximately 30GH/s , less  my management fee and expenses


3 KNC Jupiters 1050 GH/s
3 *$6995=$20985 or 175 BTC
175 BTC/5 BTC per share = 35 shares
35 shares/1050 GH/s = 30Gh/s per share

[Vycid]

The OP has a pyramid scheme link in his signature. Very shady. Watch out.

[soniq]

If you had taken the time to read the full business model you would realize your accusations are untrue. But thank you for taking the time to post a useless post in my thread

The OP has a pyramid scheme link in his signature. Very shady. Watch out.

[soniq]

I have received a response from KNCminer aka Sam that I can buy 3 Jupiters with each slot. So GB can potentially buy 12 Jupiters. I have four positions under 85

Had sent a separate email to confirm refunds in regards to force majeure, and have not received a response to that email yet.

I have received some PMs and see some interest in this thread.

Will update more once I have confirmation on refund.

[redcomet]

Will update more once I have confirmation on refund.

If they confirm a refund in the purchase agreement if unable to deliver I would double the BTC amount I PMed you about.

[Bitcoinorama]

I am very close to making purchase but lots of scammy bits in this TandC (who writes TandC??  I am suppose to take all their conditions seriously and they call it TandC?   is that a way to say this isn't really terms and conditions or some such?

https://www.kncminer.com/pages/tandc

Lawyers write T&Cs, you get what you pay for there.

[soniq]

I have enough interest to start a GB, it has been started here https://bitcointalk.org/index.php?topic=226319.0

GB has  purchased 1 Jupiter so far