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Author Topic: KNCminer is a SCAM - Lost thousands!  (Read 1200 times)
kncminerSCAM
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November 20, 2013, 10:52:36 AM
 #1

I'm preparing a post with proof of purchase, proof of contact and proof of financial loss. In the meantime, here are the points I will be covering.

- Confirmation of a BTC refund (I paid in BTC) and then a denial that I could no longer receive it
- Blocked me from all communication (phone and emails, I ended up reaching them through an alias email address)
- After 6 weeks they decided to refund me when the price of BTC was around $900 (I paid in BTC when the price was $150) in USD (which was around $10,000 difference)
- I still have not received my refund and I think they have lied to me AGAIN that the refund was processed (when it was not). It has been a week and it is not even displaying whether it is incoming.

I have called the Stockholm police who want to launch an official investigation into the legitimacy of this 'company'. This has been such a nightmare. I have never experienced so much un-professionalism.

DO NOT BUY FROM KNCMINER.COM - SCAM!

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Red_Evil
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November 20, 2013, 11:02:25 AM
 #2

I have called the Stockholm police who want to launch an official investigation into the legitimacy of this 'company'. This has been such a nightmare. I have never experienced so much un-professionalism.

DO NOT BUY FROM KNCMINER.COM - SCAM!



Take a Order by Butterflylabs Perhaps .....  " I have never experienced so much un-professionalism. "

You are an Idiot -.- Visit .... http://youareanidiot.org/

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November 20, 2013, 11:19:52 AM
Last edit: November 21, 2013, 12:33:11 AM by kncminerSCAM
 #3

I have called the Stockholm police who want to launch an official investigation into the legitimacy of this 'company'. This has been such a nightmare. I have never experienced so much un-professionalism.

DO NOT BUY FROM KNCMINER.COM - SCAM!



Take a Order by Butterflylabs Perhaps .....  " I have never experienced so much un-professionalism. "

You are an Idiot -.- Visit .... http://youareanidiot.org/



Lol going through victim's threads on the scam accusations section and calling them idiots. Did I at any point compare them to BFL? In any way? No. Idiot.
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November 20, 2013, 11:22:05 AM
Last edit: November 20, 2013, 11:38:00 AM by btc_uzr
 #4

This sounds bad.

I do not want to judge whether you're a paid shill from a competitor (sorry, but not impossible) trying to make KnCMiner just look bad, or you are really suffering and its caused by things out of your sphere of influence.

If first case matches, we will discover it soon - no worries.
If second case matches I'm wondering about the exact words chosen when you communicated with them. May I ask you to share your correspondence, please ? It may help to clarify the issue and prevent similar experiences in the future (improve the situation for all of us).

However when you pay in BTC through Bitpay, then KnCMiner receives $ - so why a BTC to refund?
Prices in the shop are in $ as well, not in BTC.
When I transfer from my € bank account to their $ bank account some money, they receive in this case $ as well and they will refund the dollars as well.
Depending on the €/$ exchange rate I may have suffered a loss when requesting a refund.
So, no difference to BTC payments, but nobody complains as the changes in €/$ rate are tiny.

From my personal experience I can confirm that the support team is friendly, tries to resolve your issues, but ok - they may take up to 3 days when there's a lot of ppl mailing them.
I give them from my personal experience 8/10 for customer support and 11/10 for the incredible hardware.


*edit:
I'm wondering how you define the meaning of the word 'SCAM'. We obviously understand sth. completely different
For me a scam is: faked identity, smoke and mirrors, bad intentions, lies, misleading, sucking your money with no possibilities of refund at all, disappearing with less or no traces, but for sure not a legit company with several thousand happy customers worldwide you can visit during business hours and have a talk, in addition they offer refunds
This leads me to the assumption that you do better in staying stealth regarding your identity, as they might sue you for calumny, which is indeed a crime btw.

..and Thou shalt spread the coin in the name of cryptography for eternity
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November 20, 2013, 11:37:53 AM
 #5

BTC refunds ? That's something noobs dream about. Buy at 100 and get a refund at 900... Cheesy

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November 20, 2013, 11:45:34 AM
 #6

BTC refunds ? That's something noobs dream about. Buy at 100 and get a refund at 900... Cheesy

Actually HashFast offers (or offered) them if I recall it right, but this doesn't really increase my confidence and trust in them.
They need the pre-order money for development and production.

..and Thou shalt spread the coin in the name of cryptography for eternity
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November 20, 2013, 12:13:38 PM
 #7

I'm preparing a post with proof of purchase, proof of contact and proof of financial loss. In the meantime, here are the points I will be covering.

- Confirmation of a BTC refund (I paid in BTC) and then a denial that I could no longer receive it
- Blocked me from all communication (phone and emails, I ended up reaching them through an alias email address)
- After 6 weeks they decided to refund me when the price of BTC was around $900 (I paid in BTC when the price was $150) in USD (which was around $10,000 difference)
- I still have not received my refund and I think they have lied to me AGAIN that the refund was processed (when it was not). It has been a week and it is not even displaying whether it is incoming.

I have called the Stockholm police who want to launch an official investigation into the legitimacy of this 'company'. This has been such a nightmare. I have never experienced so much un-professionalism.

DO NOT BUY FROM KNCMINER.COM - SCAM!



Utter bollocks.

Make my day! Say thanks if you found me helpful Smiley BTC Address --->
1487ThaKjezGA6SiE8fvGcxbgJJu6XWtZp
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November 20, 2013, 12:36:12 PM
 #8

This reeks of slander. Why u do that OP ;o
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November 20, 2013, 02:37:15 PM
 #9

This same story plays out whenever refunds come up regardless of the maker.

A buyer should only expect a refund of the purchase price.  KNC's products are clearly priced in USD.  When I bought my November Jupiter the price shown on the product page was $4995.00.  If I were to request a refund, I would expect to receive a refund in that amount.

It doesn't matter if I paid in some other currency, be it BTC converted by bitpay, or EUR converted by paypal.

"All safe deposit boxes in banks or financial institutions have been sealed... and may only be opened in the presence of an agent of the I.R.S." - President F.D. Roosevelt, 1933
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November 20, 2013, 03:26:37 PM
 #10

To be honest, assuming everything happened as the OP laid out*, I feel bad for him.
If KnC really did delay the refund for 6 weeks* and then refunded him at the height of the bubble in BTC, he really did get screwed on this if for no other reason than bad luck.

*I have a hard time believing it though, as the height of the bubble would have been 2am Sweden time. Not that KnC couldn't have been working then, but it's an odd time to refund.
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November 20, 2013, 06:06:09 PM
 #11

The price was in Fiat!!!! That never changed, this guy is unreal! So if the price of bitcoin would of dropped to 1USD a piece are you telling me he would of been fine getting back the same amount of BTCs he bought the Rig for? No wonder Tigers eat their young. This is just ridiculous!

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November 20, 2013, 09:11:17 PM
 #12

I paid for my order in BTC @ 217 .  I emailed asking for a refund in BTC only the price was 266 and they agreed (it took a few days for them to agree).  In the end I decided to take my chances for ROI and cancelled my refund request.  I hope I made the right decision.

For me they offered a BTC refund, it took 2 or 3 days to get a reply to the email, but I was happy enough with the response.

The words SCAM and KnC, for me at least don't ring true.  I have no reason to doubt them, they are not perfect, but certainly the best asic company out there and they have proven themselves to be so.


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November 20, 2013, 10:14:25 PM
 #13

This may sound crazy but the only company that was honest and diligent enough to ever pay me back in BTC even when BTC increased %200 was Silkroad.  Sorry, the drug dealing gods were more honest then most companies I've dealt with. I'd rather not go into detail. Smiley


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November 21, 2013, 12:36:49 AM
 #14

I didn't even reas through the whole thread when it hit me:
This would be the perfect hedge against falling exchange rate!
Buy mining hardware with bitcoins. You have a 90% chance it will be delayd. If the exchange rate falls, you have the mining hardware, and maybe even falling difficulty. If the exchange rate rises, request a refund in btc! Brilliant!

Ah, I hate it when I come up with the perfect crime, but am to ethical to go through it! :-P

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kncminerSCAM
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November 21, 2013, 12:40:02 AM
 #15

This sounds bad.

I do not want to judge whether you're a paid shill from a competitor (sorry, but not impossible) trying to make KnCMiner just look bad, or you are really suffering and its caused by things out of your sphere of influence.

If first case matches, we will discover it soon - no worries.
If second case matches I'm wondering about the exact words chosen when you communicated with them. May I ask you to share your correspondence, please ? It may help to clarify the issue and prevent similar experiences in the future (improve the situation for all of us).

However when you pay in BTC through Bitpay, then KnCMiner receives $ - so why a BTC to refund?
Prices in the shop are in $ as well, not in BTC.
When I transfer from my € bank account to their $ bank account some money, they receive in this case $ as well and they will refund the dollars as well.
Depending on the €/$ exchange rate I may have suffered a loss when requesting a refund.
So, no difference to BTC payments, but nobody complains as the changes in €/$ rate are tiny.

From my personal experience I can confirm that the support team is friendly, tries to resolve your issues, but ok - they may take up to 3 days when there's a lot of ppl mailing them.
I give them from my personal experience 8/10 for customer support and 11/10 for the incredible hardware.


*edit:
I'm wondering how you define the meaning of the word 'SCAM'. We obviously understand sth. completely different
For me a scam is: faked identity, smoke and mirrors, bad intentions, lies, misleading, sucking your money with no possibilities of refund at all, disappearing with less or no traces, but for sure not a legit company with several thousand happy customers worldwide you can visit during business hours and have a talk, in addition they offer refunds
This leads me to the assumption that you do better in staying stealth regarding your identity, as they might sue you for calumny, which is indeed a crime btw.

Then by your definition they are a scam. They lied/ misled me into believing I would receive a refund in BTC. From this delay, I have now endured a huge financial loss. I have given them until this weekend to solve the issue before I post evidence.
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November 21, 2013, 02:41:28 AM
 #16

I'm preparing a post with proof of purchase, proof of contact and proof of financial loss. In the meantime, here are the points I will be covering.

- Confirmation of a BTC refund (I paid in BTC) and then a denial that I could no longer receive it
- Blocked me from all communication (phone and emails, I ended up reaching them through an alias email address)
- After 6 weeks they decided to refund me when the price of BTC was around $900 (I paid in BTC when the price was $150) in USD (which was around $10,000 difference)
- I still have not received my refund and I think they have lied to me AGAIN that the refund was processed (when it was not). It has been a week and it is not even displaying whether it is incoming.

I have called the Stockholm police who want to launch an official investigation into the legitimacy of this 'company'. This has been such a nightmare. I have never experienced so much un-professionalism.

DO NOT BUY FROM KNCMINER.COM - SCAM!



I wonder if maybe you did not buy your unit from a fake scam site claiming to be or reselling KNC stuff

ie like this place

http://forum.kncminer.com/forum/resellers-affilicates/general-questions/17030-


if so that would explain a lot..otherwise what you claim makes no sense....they always convert to $$$ on this stuff even if you pay in BTC....if BTC goes down they would not have contacted you for MORE money.....so why ...do you think they would not refund you in $$$ as well

anyway prob stupid replying to this troll thread but what the heck


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