Topic: Swedish ASIC miner company kncminer.com - page 115. (Read 3049528 times)

I am not trying to cause any ill-will.  I just thought it could be a worse case then what was mentioned.   I am not a Swedish lawyer.  I will stay out of this thread as it seems tensions are high and my intent again was not ill-will.

Dude. There's no point wasting your time explaining things over and over to the same people in this thread. They just will not listen. Its like the Alpha-T thread all over again. Some people will always have an excuse to bend over and take it, others will fight no matter what. That's just the way the world is.  Notlist3d keeps going on about the same shit over and over despite being told it is illegal in Sweden to take no win no fee cases. Its also been explained that the court decides what reasonable costs of litigation are so KNC will be liable for the extra cost if they hire 50 lawyers at 50k each.

Instead of doing actual research, or listening to people that have, the same people keep coming here posting the same nonsense over and over. Leave them to it. If they are happy to have KNC shit on them and do nothing about it, it's really not up to you or anyone else to convince them otherwise.

I'm going back to lurking, I wasted far too much time on the Alpha thread and this thread seems to be going the same way.

I guess that the best way is if we find a solution with KnC before a trial. For an example, I don't think 3 btc is a fair amount instead of a Titan batch 2. If we find an other solution where they pay some more, I/we might agree with that. In that case, we don't need to go to trial. But if I know KnC enough I don't think they will pay a satoshi more then 3 btc.
If my bound is $8000 and if I'll get $4000 it's still better then nothing. But as you said it's no guarantee that we get the amount we request.

If they put them self into bankrupt, may so be. Then you loose the bound of $1000. If you don't have thoose money or if that amount is too big for you. Perhaps this isn't for you.
And ofc there are other things that could happen. But sometime you need to do some things that isn't what you calculated with. That's life I guess! Even if I only get $100 back, I will tell you for sure that it was worth it! Because I now that I at least did what I could.

I'm not trying to be dramatic.  But i consider that a significant loss if the group owes this much if they lose.  Also you might talk to "Joakim Strignert" again.... if I read the site right you also are going to be paying "a security bond" if you lose.  Again I could be wrong but I think you are forgetting to add this as a fee.

And  lawyer time is expensive I don't think there is anything that would limit KNC to the 50k.   That is a guess in my opinion.  But assuming they hire a firm get a few lawyers in the room and you will literally burn through money.  Assuming if they lose they pay 50 people 12k that would be 600k approx they would owe.  So I think they will fight hard and use as much legal team as needed.  And if they do lose bankruptcy is a real option.

But again I could be wrong.  The only decent case I dealt with lawyer did it based on settlement no retainer as he believed in case.  So I will admit I might be spoiled or jaded from using a lawyer who did based on results, and not doing it on a retainer.

I guess am a realist and not looking at best case scenario.  I do wish you luck and hope you guys win.

There is no guarantee that you will win $12,000. The courts could still say the max pay out below the requested amount, or better yet KNC could position themselves to go into bankruptcy if any verdict is handed down, in that case the company they owe money to such as their chip builder would get access to the money first then those who sued them would get whatever was left which might work out $350 per person. Is it really worth it?

There is so much more that can happen in the court of law that you end up holding the short end of the stick. This whole idea that if you give someone $1800 that you'll get $12,000 has been done before and has always turned out be a scam. You know what they say about things that are too good to be true right? This is one of those things.

Good luck!

I want to buy 2 Titan cube

Pm me with price

Lets play this as a poker game. The pot is $12000.
Your call to win this pott is $1800 (retainer of 15%, might even be lower).
You should always take this call if your chance to win the pot is 1/6 or better. And do you think that the chance to win against KnC is lower then 1/6??
In my opinion the chance to win is mutch better! I havn't any experience from lawyers and the court. But of course there are some risks. Of course there are a risk to loose the case.
But I dont think that KnC wins this 5 times of 6 (5/6), I do rather belive that we win this is 5 times  of 6!

And bankrupt? I will celebrate if they goes bankrupt! But I don't think they will do that.
Some weeks ago this news came: http://www.bloomberg.com/research/markets/news/article.asp?docKey=600-201504290300HUGIN___EUPRX____HUG1916185-1
The name of that cerificate is XBT Provider AB, it's a part of KnC Group (where KnC Miner is included).
And some month ago they got a huge amount from investors.



"So if you lose.... wow world of hurt"
Wow very dramatic sentence! But ofc it's true that if we loose the case WE in the group action will need to pay some "fees" and trial costs.
But that amount isn't compared with a "world of hurt".
I have some mail conversation with Joakim Strignert. I asked him specifically about this question. What he estimate and if we count high (everything goes wrong)/your world of hurt is:
We win in the district court. KnC appeal to the next instance, and they wins. In that case we need to pay all of it.
If we count that 50 people joins the group action and the cost are $50K. Each of us will need to pay $1000 in trial cost.

Ofc everyone that consider to join the group action needs to take this in his or hers equation.
A bad scenario will be something like this: Retainer $1000 + trial cost $1000 = $2000
$2000 to win $12000 = 1/6. And as I said before. I don't think that we win this case 1 of 6 times. If it isn't 6/6 I think it is at least 5/6.

For me it's good odds even when we count high!
But I can feel bad for those that however they do they can't take a risk. Even if we got the odds on our side, and even very good odds.

Well I've been hearing the opposite that they are merged now with another company and hope to control 40% of all bitcoin mining with their 1ckwh or whatever 16nm chip data halls...which is really gonna suck say in 2017 looking at knc with 40% of all bitcoin mining at that point..i will physically be ill on reading such someday (say it ain't so!)

you have a link to what you heard?

....my info is Sam Cole's previous ramblings in the press and their announcement of the merger and such with that other company for offering
stock etc on their www.kncminer.com site with their miners providing depth etc etc whatever they are saying about such using unicorns/rainbows and bar graphs....

I hope you are correct however just saying....make my day point me to something that proves me wrong on what I've heard...PLEASE!

And if you lose case you lose that + other's legal fee's it sounded like.  And a security bond.   So if you lose.... wow world of hurt.

And since the lawyers choose to get paid up front in retainer and not out of winnings, they win no matter what.

Have you been following the funding KNC is closing and following the company? They aren't going bankrupt very soon..

You realize if KNC goes bankrupt in the process you will lose your retainer ($1,500.00 ish USD) with these lawyers. You'd be better playing poker at a casino!

I didn't for sure! But I know that I saw someone in this thread that wrote that he did it.

No the only way to get some more back is trough the group action against KnC. 2 lawyers from Sweden and 1 from USA.
http://kncclassaction.com/

They have an open prison system in Sweden. As long as it was not violent crime, inmates can come and go during the day with an electronic tag. http://mic.com/articles/109138/sweden-has-done-for-its-prisoners-what-the-u-s-won-t

In Sweden, "Before you do the crime, don't even worry about the time".

Any thoughts on getting KFC extradited to the USA for prosecution? In a US prison, they would really be worried about dropping the soap in the showers 

Did anyone take back 3 btc

if this guys court find them guilty they spend much time in prison... According swedish low its around 6 months per case. So around 20 people sued them as I understand, this is 10 years and much soap.

I'm very optimistic, there is a lot to look forward to:



 

You haven't been round this thread long enough 

ohh well, at least this KFC lesson had some positive impact to your life.)

Pre-order scam and totally 'shopped! I ain't pre-ordering based offa skeematics, photoshop or 3D images ever again 

So, who ordered the Tesla Powerwall ? - http://www.teslamotors.com/powerwall