Topic: KnC Cloud Mining - it's a bust... (Read 6492 times)

Any updates on this? A scam all over again? Any proof of the claims in this thread like account screenshots or w/e?

THEY ARE NOT PAYING A PENNY TO THE CLOUDMINING CONTRACTORS FOR LAS THREE DAYS ......
i think there is no corporate check and balance in SWEDEN

there are deeper levels of 'hell' with KNC ..ask the Neptune and Titan owners...be grateful.......you are not one of 'us' the knc damned (dramatic music insert here)

https://www.youtube.com/watch?v=VjPAWbk5jKc

Maintenance charges change the results dramatically between a company that has low maintenance costs and one that has high maintenance costs.

You're wrong. Mine, just do the math first.
To hodl you have to own coins first and mining does the job. There's just a big difference between mining with your hardware and in fake cloud operated by thieves.
Those who bought last year in q1 - q3 will surely disagree with the hodl advice

Never mine, just hodl

if i had read this post before paying them ... i might be avoided from being robbed 250$ to knc cloud mining ........ now they are TIPING me from 0.11 to 0.50 $ a day .......    and i have to bear it for next 4 months ...  JESUS HELP ME

Same here..., and no answers... :/
I guess buying a jupiter didnt scare me enough

Knc is pure fraud

Is anyone else having problems with KNC Cloud, I've been mining with them for about a month
all of a  sudden I can't get a payout

That's where I found it

Well seems as though this is also being discussed here ---> http://www.reddit.com/r/Bitcoin/comments/2l52wg/knc_is_a_fraud_if_you_dont_already_know/

And it's also a hot topic on other forums and chat rooms. 

Knc lies through their teeth

http://forum.kncminer.com/forum/resellers-affilicates/general-questions/65252-knc-to-stop-selling-miners-mine-for-themselves

All mining companies have negative expectation of profit right now if they mine themselves.

The only way for them to profit is to sell those over price ASIC miners to end consumers who have no clue on what they are doing.

I would say that regardless of KnC's level of trustworthiness, their prices are well above what you could reasonably expect to earn from mining over the six months that you would be cloud mining with their hardware. 

I don't trust cloud mining. Lost money before and it's a risky thing, might as well go to a casino, or play slot machines.

only exception so far that is active in forums seems to be spondoolies-tech.....just waiting for them to backslide i sure hope not
they got me a refund where guite frankly they did not have to do so on their terms..and they offered i did not ask from a post
i made ...so figure i owe them a unit..but man..with btc price this low and difficulty high ..even if they come thru *unlike knc* and
next equipment will NOT be pre-order.....just can't get the numbers to fly

so the truth is KNC /spondoolies etc can't get the home numbers to fly (still on the fence about GAW see my tagline
some say they make $$$ others say not gonna see how it shakes out this month)

but home equip wise ...can find NO handle on that making ROI in any manner ...very sad

Sad to see all mining manufactures turn out the same way.

Same thing appears to be happening for coin exchange also.

Hang in there people!!!!

https://www.getbitcoin.com.au/bitcoin-news/price-bitcoins-go-100000

Keep your eye on the prize

there ...fixed that for you ;-)

Holding is better than willingly giving someone your money then begging for it back

You forget to factor in maintenance charges. Hashnest give me about the same payout..

Stop paying, knc is a scam

Tried the same here. Totally nothing.

LOL! These boys have SCAM written all over them, including the fact they've misspelled their own company name on their website.

Here is the difference: KNC is scamming you, but your business partner in the third world country might be scamming you.

yes, because instead of investing thousands of dollars and trusting KNC, who might be crooks, I am better off sending thousands of dollars of equipment to a third world country and trusting someone who is a crook and willing to steal electricity for me.

Rather than do cloud mining, might have better return sending the miners to a third-world country where stealing gigawatts of electricity is as easy as bribing the meter reader guy $30 a month...

Bangladesh do cross my mind..

glad you posted this. i'll start by saying that i actually had good luck with their first generation of hardware miners. I was part of the October 2013 batch, and received mine 10 days late. sucked, but not the end of the world. when my BeagleBoard went kaput after ~3 months, I did have to cajole them a bit to convince them that flashing the Beagle wasn't doing the trick. they sent me replacement gear that somehow allowed me to has at ~30 GH/s faster than the original. I had to be belligerent to get the service, though.

I got into a discussion with Sam Cole at the time about how their products were overpriced, and I wanted to see them get into cloud mining, since, at the time, they were not on the same level of being crap as BFL was. I was tired of having gear at home, and could mining looked like an interesting alternative. BFL's price was too steep, IMO, and I didn't know how long I would have to wait (and if you have read other threads regarding BFL lately, it's not a secret that I used to work there - and I had ZERO confidence that they'd deliever cloud hashing in time for any investment to be profitable, unless BTC's value went up to something like $500+, but more like $700+, if I recall my calculations at the time....it's been many months since I've been involved with mining). I remember discussing with Cole that KnC would miss out on a huge opportunity, since the majority of new miners were often ignorant of how the technology worked, and that could mining would be a way to attract new customers interested in BTC, but not interested in maintaining the gear. He said they were looking into it. This was probably in February/March 2014, but my memory isn't the best on the timeline.

I knew they built 3 huge data centers, but had no idea they were selling mining contracts. So, they're shit, eh? Not surprising. They had potential coming out of the gate (like for 3 months lol), but they seemed to have gone the way of just about every BTC hardware mfg out there, which is to suck ass. Glad I sold my gear when I did, and thanks for the review on their cloud mining. I will definitely be sure to not consider them, should I decide to have anything to do with mining in the future. Thanks again!

knc ended up as scammers similar to BFL

I am surprised that someone is trusting KNC after all these times when they screwed us over. Their hardware miners were a scam and I am not suppose things are gonna change with cloud mining. Just dont do it.

Never heard of them, but whatever they are the title of this thread is "KNC cloud mining" not "paste a link to your cloud mining".

Don't mine with Knc, I tried them out and I had a horrible experience.

Try other service: The newest with the most affordable mining contracts and highest payout is http://www.ihash-mining.com/
I have been testing them since the start along with other cloud service. I am planning on posting a review on the cloud services.

Other than that Genesis-Mining is good too, but they are pricy.

Don't fucking do it

Knc is a fraud

Well, if its unprofitable to mine then the difficulty would drop. So its balanced..

I do agree the price of BTC is hurting mining in general. Even if it were to get up to $500, things would be looking much better!

Tried, paid, nothing.

Life would be wonderful if BTC as floating @ over $1,000 but unfortunately it's around $300 and falling, whilst difficulty has gone through the roof! No wonder I see thousands of Bitcoin ASIC miners on Ebay starting from $1.00 .

Game over people           

LOL must be... looks like I won't be buying more of this 6 month cloud contract.

Fear not.
Good old KNC is just robbing Paul to pay Peter.
They need to get the refund money for their Titans somewhere before the class action becomes too large to handle.

So I have decided to take the plunge on buying some GH on KnC's cloud mining. I have 800 GH/s with them and I must say, the past 48 hours have been a bust! I've only mined .006 BTC in that time. I have 2 antminer S1's mining on ghash for 360gh/s and I get around .006-.007 BTC a day with that.... Anyone else having problems like this?