Full refunds in BTC are something you should not expect from any company.
Yifu gave refunds chip refunds in BTC, even though the terms of sale said "No refunds". I don't know if there was much of a price difference at the time.
Topic: KNCMiner REfusing refunds (Read 9526 times)
Yifu gave refunds chip refunds in BTC, even though the terms of sale said "No refunds". I don't know if there was much of a price difference at the time.
"Due to volatility they almost immediately liquidate the BTC at the price it was at when you paid for the device." - not my call what they do with their BTC and how can you be sure of your statement?
Because they use BitPay which automatically liquidates the bitcoins for them. BitPay allows merchants to sell stuff in bitcoins without exposing themselves to the volatility of the bitcoin price which could ruin their business.
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"If BTC had crashed to $20 do you think they would give you the amount of BTC back you paid for? I'm certain you would feel ripped off if they did" - not really and still willing to take the risk if they refund me my full amount of BTC. Tomorrow it might fall to $20, right?
Don't be silly you can sell those bitcoins right away at market value. The hardware is priced in dollars not in bitcoins, you just happen to also be able to pay with bitcoins but the dollar price is the actual price and that's what you get in case of a refund.
A lot of people need to realize that when they buy something priced in USD with BTC they are effectively "cashing out" unless of course they bought that BTC with USD at the time of purchase.
I just got my refund today. Right back to my paypal account. I was order 65xx and there was no way in fuck I was getting my miner before november so fuck that noise. They were VERY fast (I requested it sunday morning and they replied first thing monday morning swedish time).
"Due to volatility they almost immediately liquidate the BTC at the price it was at when you paid for the device." - not my call what they do with their BTC and how can you be sure of your statement?
Because they use BitPay which automatically liquidates the bitcoins for them. BitPay allows merchants to sell stuff in bitcoins without exposing themselves to the volatility of the bitcoin price which could ruin their business.
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"If BTC had crashed to $20 do you think they would give you the amount of BTC back you paid for? I'm certain you would feel ripped off if they did" - not really and still willing to take the risk if they refund me my full amount of BTC. Tomorrow it might fall to $20, right?
Don't be silly you can sell those bitcoins right away at market value. The hardware is priced in dollars not in bitcoins, you just happen to also be able to pay with bitcoins but the dollar price is the actual price and that's what you get in case of a refund.
Confirming KNC refuses to refund the amount of BTC they were given for their products. They offered to refund almost 50% less though, take it or leave it?
What does it say in their terms of sale? Full refunds in BTC are something you should not expect from any company.
Why?
At least they are offering refunds.... btc, fiat, whatever
Full refunds in BTC are something you should not expect from any company.
"Due to volatility they almost immediately liquidate the BTC at the price it was at when you paid for the device." - not my call what they do with their BTC and how can you be sure of your statement?
"If BTC had crashed to $20 do you think they would give you the amount of BTC back you paid for? I'm certain you would feel ripped off if they did" - not really and still willing to take the risk if they refund me my full amount of BTC. Tomorrow it might fall to $20, right?
Also please notice that they refused to refund between 1st-15th of Oct when the BTC rate was relatively stable, while allowing refunds now... that says a lot about their honesty.
"If BTC had crashed to $20 do you think they would give you the amount of BTC back you paid for? I'm certain you would feel ripped off if they did" - not really and still willing to take the risk if they refund me my full amount of BTC. Tomorrow it might fall to $20, right?
Also please notice that they refused to refund between 1st-15th of Oct when the BTC rate was relatively stable, while allowing refunds now... that says a lot about their honesty.
Confirming KNC refuses to refund the amount of BTC they were given for their products. They offered to refund almost 50% less though, take it or leave it?
Ofcourse they're not giving you back the amount of BTC you originally bought the device for. Due to volatility they almost immediately liquidate the BTC at the price it was at when you paid for the device. If BTC had crashed to $20 do you think they would give you the amount of BTC back you paid for? I'm certain you would feel ripped off if they did, so their only sensible choice is to refund the money in $ or in its value in BTC at the current exchange rate.
Confirming KNC refuses to refund the amount of BTC they were given for their products. They offered to refund almost 50% less though, take it or leave it?
rly? could you please post KNC response with this statement?
Confirming KNC refuses to refund the amount of BTC they were given for their products. They offered to refund almost 50% less though, take it or leave it?
Funny This is EXACTLY the same crap BFL tried to pull.... Scum Bags... All of them
Greed!!!!
for them doesnt matter if one more or less unit will be shipped
they are the same units.
they are disgusting liars, such a shame.
problem is, jupiter production cost is about 500$, first early adopters are paying ridiculous margin for NRE for the next months, years.
those early adopters are all fucked by knc due to late shipping, no working prototype at the last days of september.
that means they will get maybe 50% back what they have paid in BTC, or less.
The voltage regulators alone cost $500. $1000 on the 8-VRM versions.
Look it up.
https://www.kncminer.com/news/news-30
Quote
Today we have our PCB’s back from the assembly house. These boards will each contain one ASIC chip and be individually connected to the main controller board. The Chip in the picture below is an FPGA which we are using to emulate the full functionality of the boards.
The entire space you can see in the middle of the DC/DC modules (GE Critical Power DC/DC CONVERTER 0.45-2V 40A SMD) will be consumed by our ASIC.
We would also like to share some facts about our boards with you.
The DC/DC modules we have on our boards are the largest and best quality available from GE Critical Power. Each capable of 40 amps making the max available 320 amps per ASIC
Our PCB laminat is not standard either. It has been given extra thick copper layers and multiple power and ground plains which enable it to more than handle our requirements.
We will be using these boards to fully validate the entire setup. They will consume the same power, make the same noise level, produce the same heat and run the same RTL code. The only difference will be related to hashing.
The entire space you can see in the middle of the DC/DC modules (GE Critical Power DC/DC CONVERTER 0.45-2V 40A SMD) will be consumed by our ASIC.
We would also like to share some facts about our boards with you.
The DC/DC modules we have on our boards are the largest and best quality available from GE Critical Power. Each capable of 40 amps making the max available 320 amps per ASIC
Our PCB laminat is not standard either. It has been given extra thick copper layers and multiple power and ground plains which enable it to more than handle our requirements.
We will be using these boards to fully validate the entire setup. They will consume the same power, make the same noise level, produce the same heat and run the same RTL code. The only difference will be related to hashing.
I assume you know how to check the price of an electronic component, right?
They now that they have their chips, and know they don't actually take 40*8 amps each they can try cheaper components to see if they work as well.
I got the impression BFL is hardly even trying; they don't seem to work weekends, they don't even seem to make full use of their assembly space/stations by running shifts 24/7 so are presumably only using 1/3 to 1/2 the number of people in assembly as the space could fit if put to full use.
-MarkM-
-MarkM-
Trust me! When BFL rids their backlog by the end of the year, give or take, they'll be free to dedicate their entire resources to only one line--the Monarch. And since they have learned from all pass mistakes, they're be no problem when them getting all the units pre-sold into the hands of their customs no later then the end of February as
OTOH, KnC promised that all refunds will be honored up to the time of the item being shipped and I will cry fowl, like a free-ranged chicken, if they renege on that promise.
You sir are thoughly brainwashed...................BFL has NOT learned anything,except how guillable customers are
Phinnaeus Gage is kidding I assume. Similar to
https://bitcointalksearch.org/topic/m.2501963
or
https://bitcointalksearch.org/topic/i-deserve-the-scammer-tag-if-all-those-who-reply-to-thread-are-not-paid-back-278780
No love lost between Inaba and Phinnaeus...
Ironically, the post in question was penned to keep you in stitches, but somehow it got lost in translation. Short of using the seven letter word starting with s and ending with m, did you notice the strikethrough on the word promise?
Thank god for that; sometimes when it seems everyone else has gone crazy, one starts to question one's own sanity...
Thanks Phinnaeus, for confirming to me that I've not gone off the deep end
The only thing I've mostly scaled back is the vitriol attacks and FUD. Trust me, I'm not brainwashed. Anybody planning on going to Atlanta next week?
Remember to say Hi, to Josh and Jody
Funny This is EXACTLY the same crap BFL tried to pull.... Scum Bags... All of them
Greed!!!!
for them doesnt matter if one more or less unit will be shipped
they are the same units.
they are disgusting liars, such a shame.
problem is, jupiter production cost is about 500$, first early adopters are paying ridiculous margin for NRE for the next months, years.
those early adopters are all fucked by knc due to late shipping, no working prototype at the last days of september.
that means they will get maybe 50% back what they have paid in BTC, or less.
The voltage regulators alone cost $500. $1000 on the 8-VRM versions.
woah! If that's true KnC is going to have hard time competing with other ASIC manufacturers in the future.
I don't think this generation was exactly built for price wars or efficiency, they seemed to mainly focusing on getting something that would work without proper testing and evaluation to make sure they could stick to their schedule. Building in margins to account for worst case scenarios and trying to rush things can increase cost exponentially quite easily.
The voltage regulators alone cost $500. $1000 on the 8-VRM versions.
Funny This is EXACTLY the same crap BFL tried to pull.... Scum Bags... All of them
Greed!!!!
for them doesnt matter if one more or less unit will be shipped
they are the same units.
they are disgusting liars, such a shame.
problem is, jupiter production cost is about 500$, first early adopters are paying ridiculous margin for NRE for the next months, years.
those early adopters are all fucked by knc due to late shipping, no working prototype at the last days of september.
that means they will get maybe 50% back what they have paid in BTC, or less.
The voltage regulators alone cost $500. $1000 on the 8-VRM versions.
We see no reason why it cant work like that, the only addition I will add is that the refund will be 100% with the order cancelled, We wont be offering a discount/refund and still shipping you the boxes. Refunds are offered up to the day of shipment of your order.
Above all else we will be fair.
Sam
Above all else we will be fair.
Sam
https://i.imgur.com/6Ms5qIu.png
Do you have any proof for this..
proof of the no refunds being offered, yes I do, its on the first page. if ya didn't skim the thread like I sometimes do you would see the big huge pic of the email I posted.
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