Topic: Swedish ASIC miner company kncminer.com - page 153. (Read 3049514 times)
They can always rent out the data hall site if all fails and btc mining really dies.
That is not a knc employee. That guys is from Accel, the people who just invested $15million. They obviously have seen kfc's books and know exactly who much they are making. If they are willing to invest $15million, then the cash flow has got to look good.
kfc's biggest outgoing is the $450,000 electricity bill each month. Also, they have to replace miners which break down and replace them with new ones every so often. But that isn't too expensive - you just clean the dust off them and send the broken ones out to customers waiting for their bonus rigs
kfc's biggest outgoing is the $450,000 electricity bill each month. Also, they have to replace miners which break down and replace them with new ones every so often. But that isn't too expensive - you just clean the dust off them and send the broken ones out to customers waiting for their bonus rigs
Kottings on the KNC board now. But I take your point about their books, but as you probably know, investments are made on a number of factors, cash flow/turnover being just one. I would think the KNC data centre alone is worth much more than $15mil so investors have millions in assets not mention IP to liquidate if it hits the fan. Interestingly KNC have been quick to spout turnover figures but remain suspiciously quiet when asked about profit. There's a saying: Turnover for vanity, profit for sanity. Their annual report would be an interesting read.
I have raspberry 2 put it at Titan miner
But does not work
Any solution?
..
But does not work
Any solution?
.. 
which NEPTUNE firmware version are u guys using that works best?
i foud non Titan actually older version is better than newest one. i Wonder if its like that on Neptune too
i foud non Titan actually older version is better than newest one. i Wonder if its like that on Neptune too
From same article as above:
"Mr. Kotting said KnCMiner is generating substantial cash flows, but much of it is being reinvested into upgrading its equipment, and maintaining its data center. "
"Mr. Kotting said KnCMiner is generating substantial cash flows, but much of it is being reinvested into upgrading its equipment, and maintaining its data center. "
By the same token I wouldn't expect Mr Kotting to say:
KNCMiner is generating so little cash flows they had to come pan handling to me for money, and much of it is being reinvested into equipment instead of shipping miners to their customers so now they're in a legal minefield.
I'm not saying those quotes aren't true but we probably need to look for more objective sources than KNC employees.
kfc's biggest outgoing is the $450,000 electricity bill each month. Also, they have to replace miners which break down and replace them with new ones every so often. But that isn't too expensive - you just clean the dust off them and send the broken ones out to customers waiting for their bonus rigs
KNC don't have a gaggle of lawyers, they have one guy and he really doesn't seem to know what he's doing.
According to the Wall Street Journal article I just read here http://blogs.wsj.com/venturecapital/2015/02/03/bitcoin-mining-company-kncminer-gets-15-million-amid-lawsuits :
“KnCMiner disputes, and will continue to dispute, all refund claims regarding the Titan miners. We believe that there are very strong legal grounds for KnCMiner’s position,” wrote Per Widman in an email to VentureWire. Mr. Widman, an attorney with Advokaterina Liman & Partners AB, represents KnCMiner in the lawsuits."
http://www.limanpartners.se/index.php?pageid=3&subpageid=65
Per Widman specialises in employment law and dispute resolution. He also has extensive experience within the fields of contract & company law, procurement law and insolvency law.
Sic'em Ms Lin!
Per Widman specialises in scratching his bollocks and dangle berry picking. He also has extensive experience within the fields of dandruff procurement and flatulence.
As I said I have read his defence and it is pretty laughable. But we'll just have to wait and see what a judge makes of it.
From same article as above:
"Mr. Kotting said KnCMiner is generating substantial cash flows, but much of it is being reinvested into upgrading its equipment, and maintaining its data center. "
"Mr. Kotting said KnCMiner is generating substantial cash flows, but much of it is being reinvested into upgrading its equipment, and maintaining its data center. "
By the same token I wouldn't expect Mr Kotting to say:
KNCMiner is generating so little cash flows they had to come pan handling to me for money, and much of it is being reinvested into equipment instead of shipping miners to their customers so now they're in a legal minefield.
I'm not saying those quotes aren't true but we probably need to look for more objective sources than KNC employees.
These will always be King of Suck imho. Here's something to chew on - knowing how greedy Scam Hole really is, if KfC were making money hand over fist why would they need anyone else's money? They're obviously not making enough to sustain themselves and have found a much larger pool of fools to con.
From same article as above:
"Mr. Kotting said KnCMiner is generating substantial cash flows, but much of it is being reinvested into upgrading its equipment, and maintaining its data center. "
KNC don't have a gaggle of lawyers, they have one guy and he really doesn't seem to know what he's doing.
According to the Wall Street Journal article I just read here http://blogs.wsj.com/venturecapital/2015/02/03/bitcoin-mining-company-kncminer-gets-15-million-amid-lawsuits :
“KnCMiner disputes, and will continue to dispute, all refund claims regarding the Titan miners. We believe that there are very strong legal grounds for KnCMiner’s position,” wrote Per Widman in an email to VentureWire. Mr. Widman, an attorney with Advokaterina Liman & Partners AB, represents KnCMiner in the lawsuits."
http://www.limanpartners.se/index.php?pageid=3&subpageid=65
Per Widman specialises in employment law and dispute resolution. He also has extensive experience within the fields of contract & company law, procurement law and insolvency law.
Sic'em Ms Lin!
still wait
titan batch 2
awful@@@@@@@@@@@@@@@@@@@@@22
titan batch 2
awful@@@@@@@@@@@@@@@@@@@@@22
These will always be King of Suck imho. Here's something to chew on - knowing how greedy Scam Hole really is, if KfC were making money hand over fist why would they need anyone else's money? They're obviously not making enough to sustain themselves and have found a much larger pool of fools to con.
I don't know if there will be any kind of justice served in the future after the long con runs out with these clowns. If you look at the other hardware groups that scammed us all silly not much justice got served there. Maybe there will be a reckoning one day long in the future, i dunno.
What saddens me most about the whole thing is the loss of innovation in this space now. That was the fun part and now it's been closed off to us. I keep looking at bitmain and sponds to do something groundbreaking and keep hoping there will be someone that takes this to a new innovative level, but I just don't see it.
I miss that excitement and the adventure that this whole thing spawned. I hope we see it again someday.
I don't know if there will be any kind of justice served in the future after the long con runs out with these clowns. If you look at the other hardware groups that scammed us all silly not much justice got served there. Maybe there will be a reckoning one day long in the future, i dunno.
What saddens me most about the whole thing is the loss of innovation in this space now. That was the fun part and now it's been closed off to us. I keep looking at bitmain and sponds to do something groundbreaking and keep hoping there will be someone that takes this to a new innovative level, but I just don't see it.
I miss that excitement and the adventure that this whole thing spawned. I hope we see it again someday.
At the same time: Accel Investing In KnCMiner – 16nm tape-out completed
In 2013 KnCMiner got their start from people here on BCT who backed them with pre-orders. Not that I'm a fan of pre-orders (or KnCMiner), but just saying, we funded their startup.Now we're completely left out of the loop, they haven't even offered their 16nm product to us! Not that I'm up for another pre-order, I'm waiting for a decent manufacturer like Spond or Bitmain to bring out their next-gen products as an in-stock order.
My guess: Nevertheless, people will still place their pre-orders in the future :bump:
there was an article (see belo) whrere the main thrust was KNC was out of the consumer miner business....they seem to want the perception
that they will be a consumer company w/o any of the issues involved in actually being a consumer friendly company....
so anyway with the knc announcement https://www.kncminer.com/news/news-124
looks like you will not have to worry about the 'temptation' of pre-orders (not that anyone is tempted anymore) in that it seems to be all data hall all the way
so no need to worry yourself about any 'further' KNC pre-orders (unless you got some big IPO money in the data hall ..waiting for your miner stuff ..heh
moving on to richer and more clueless 'marks' then ourselves...
(kinda explains why they suddenly started to release the bonus neptunes..they are gonna need the room don't ya know
)edit: here is one of the articles where they are spreading the hype
sept 5th 2014
http://insidebitcoins.com/news/kncminer-denies-abandoning-customers-though-admits-it-will-mine-for-its-own-benefit-possible-lawsuits-loom/25700
here is the other one
http://blogs.wsj.com/venturecapital/2014/09/05/for-kncminer-time-to-forget-selling-bitcoin-machines-to-at-home-miners/
above oct 25th 2014
and of course the one today (in previous posts) of 15 million dollars of further investment
I think I read someplace? that sam cole wants to have at least 40% of all the bitcoin mining to be from KNC.......sheesh...
(anyway moving on as soon as my knc titan hits doorstop status...www.coinbase.com is then my friend...I'm in to 'attic mining" in other
words the 5K of crap from 40yrs in my attic I should be selling on ebay and putting into BTC .....although boring to do don't ya know....
anyway sam cole seems to be (at this time) having a fine time with life....(gets voodoo doll and pins) we will see......
At the same time: Accel Investing In KnCMiner – 16nm tape-out completed
In 2013 KnCMiner got their start from people here on BCT who backed them with pre-orders. Not that I'm a fan of pre-orders (or KnCMiner), but just saying, we funded their startup.Now we're completely left out of the loop, they haven't even offered their 16nm product to us! Not that I'm up for another pre-order, I'm waiting for a decent manufacturer like Spond or Bitmain to bring out their next-gen products as an in-stock order.
My guess: Nevertheless, people will still place their pre-orders in the future :bump:
At the same time: Accel Investing In KnCMiner – 16nm tape-out completed
In 2013 KnCMiner got their start from people here on BCT who backed them with pre-orders. Not that I'm a fan of pre-orders (or KnCMiner), but just saying, we funded their startup.Now we're completely left out of the loop, they haven't even offered their 16nm product to us! Not that I'm up for another pre-order, I'm waiting for a decent manufacturer like Spond or Bitmain to bring out their next-gen products as an in-stock order.
Mr. Kotting said. “I don’t see this as a case where they screwed a lot of people to build up their own business.”
What a fucking Asshole!
Here is something sad. The top hasher at litecoinpool.org is making 93 ltc per day. This is less than $180 USD.
they have one guy and he really doesn't seem to know what he's doing.
Ha ha, story of kfc's life 
Fair enough, I think you know more about the companies around and that invest in kfc than I do. But I'm not surprised that people who invested in a company that "prints money" to turn a quick profit and screws it own customers multiple times could potentually be shady.
The amount that has been invested, according to their latest press release, is incredible:
"Sam Cole, co-founder and CEO of KnCMiner, said: “We have invested more than $70M over the last 12 months into building a world-class bitcoin mining operation and plan to invest a further $150M over the next 18 months as we become one of the key transaction processors within Bitcoin. "
That's why it seems hopeless for a traffic ticket lawyer to go against a company with 100's of millions of dollars.
What really annoys me is that hardware vendors have fleeced the community, without some laywers also getting in on the action and fleecing even more money. When they probably know they can't win, but just want to collect fees. Let's hope Ms Lin proves me wrong and does have some solid info that can be used to invoke RICO action. I won't hold my breath, as she probably has a few dui's to deal with first.
The amount that has been invested, according to their latest press release, is incredible:
"Sam Cole, co-founder and CEO of KnCMiner, said: “We have invested more than $70M over the last 12 months into building a world-class bitcoin mining operation and plan to invest a further $150M over the next 18 months as we become one of the key transaction processors within Bitcoin. "
That's why it seems hopeless for a traffic ticket lawyer to go against a company with 100's of millions of dollars.
What really annoys me is that hardware vendors have fleeced the community, without some laywers also getting in on the action and fleecing even more money. When they probably know they can't win, but just want to collect fees. Let's hope Ms Lin proves me wrong and does have some solid info that can be used to invoke RICO action. I won't hold my breath, as she probably has a few dui's to deal with first.
I admit I wasn't impressed by Ms Lin's interview but don't write her off just yet. I doubt she'll be dealing with the Swedish end. I know she met up with Magnus Daar so he may be handling that (it all has to be filed in Swedish). I've got a suit filed with lawyers in Sweden and its moving along nicely. KNC don't have a gaggle of lawyers, they have one guy and he really doesn't seem to know what he's doing. I've read KNC's defence and quite frankly its a joke. I'd wager even Ms Lin could tear it apart. They are the most unprofessional outfit I've ever had to deal with, so unless they start throwing serious money at this soon I doubt Ms Lin will have a problem.
Any one with a bonus Neptune have anything to report? Any signs that they have been used/ex data centre stock?
Have you read this?
KNC facing a class action lawsuit:
KNC facing a class action lawsuit:
I'm well known for my funny photos, but this is actually a real image from her website!
Watching that video, I'm not convinced she is up to the task. kfc are multi-millionaire ruthless crooks, who have made it a conflict of interest for any lawyer in Sweden to work against them. She'll be swallowed whole in 15 minutes.
The impression she left in the video is, hm, how to write it in a polite way...?
As a matter of facts, it doesn't really matter what lawyer you have in the US. All you need is one who can convince the DA that it is a RICO-case. And given some facts which are freely available, I don't think this will be so difficult. It would make sense if the community would dox a couple of the persons involved, and with this information, it would be a cake-walk.
What do you mean by doxing persons involved? All the directors of kfc are well known, with plenty TV interviews etc on record that identifies them. They even say in those interviews they sell to private individuals, which negates their t&c's completely about selling only to businesses. You can search for my older posts and find that interview Scam Hole did where he said they "sell to everyone". These facts are all freely available. I hope our intrepid traffic ticket lawyer is reading and already has that evidence in her files.
No. RICO has been used in financially related crimes during the last 30 years - just look at the James Irwin-case. There are, however, a couple of goals which have to be met. But if you look at some of the persons invovled in the several companies - KnC, the VC-companies etc - I'm sure this can be accomplished. Also: doxing the KnC-guys who are well known is one thing. But look at the persons who were employed. What did they do in the past? Were some of them involved in computer related crimes (some of them were - and it is up to KnC to prove that they did a proper DD.). Look at the VC-companies: Were some of them related in tax issues.... Look at the persons in these VCs: Were they involved in some shady financial operations? Yes, some of them were. It is not that the victims have to get all the evidence. They have to get only the evidence which shows a RICO-related behavior. Let's KnC spend their money for their defense. So every potential future investor will ask twice if he will spend money for KnC's lawyers instead of the technology.
The amount that has been invested, according to their latest press release, is incredible:
"Sam Cole, co-founder and CEO of KnCMiner, said: “We have invested more than $70M over the last 12 months into building a world-class bitcoin mining operation and plan to invest a further $150M over the next 18 months as we become one of the key transaction processors within Bitcoin. "
That's why it seems hopeless for a traffic ticket lawyer to go against a company with 100's of millions of dollars.
What really annoys me is that hardware vendors have fleeced the community, without some laywers also getting in on the action and fleecing even more money. When they probably know they can't win, but just want to collect fees. Let's hope Ms Lin proves me wrong and does have some solid info that can be used to invoke RICO action. I won't hold my breath, as she probably has a few dui's to deal with first.
Maybe I wasn't so wrong back in 2013 when I spoke about:
the Swedish bitcoin mafia
Have you read this?
KNC facing a class action lawsuit:
KNC facing a class action lawsuit:
I'm well known for my funny photos, but this is actually a real image from her website!
Watching that video, I'm not convinced she is up to the task. kfc are multi-millionaire ruthless crooks, who have made it a conflict of interest for any lawyer in Sweden to work against them. She'll be swallowed whole in 15 minutes.
The impression she left in the video is, hm, how to write it in a polite way...?
As a matter of facts, it doesn't really matter what lawyer you have in the US. All you need is one who can convince the DA that it is a RICO-case. And given some facts which are freely available, I don't think this will be so difficult. It would make sense if the community would dox a couple of the persons involved, and with this information, it would be a cake-walk.
What do you mean by doxing persons involved? All the directors of kfc are well known, with plenty TV interviews etc on record that identifies them. They even say in those interviews they sell to private individuals, which negates their t&c's completely about selling only to businesses. You can search for my older posts and find that interview Scam Hole did where he said they "sell to everyone". These facts are all freely available. I hope our intrepid traffic ticket lawyer is reading and already has that evidence in her files.
No. RICO has been used in financially related crimes during the last 30 years - just look at the James Irwin-case. There are, however, a couple of goals which have to be met. But if you look at some of the persons invovled in the several companies - KnC, the VC-companies etc - I'm sure this can be accomplished. Also: doxing the KnC-guys who are well known is one thing. But look at the persons who were employed. What did they do in the past? Were some of them involved in computer related crimes (some of them were - and it is up to KnC to prove that they did a proper DD.). Look at the VC-companies: Were some of them related in tax issues.... Look at the persons in these VCs: Were they involved in some shady financial operations? Yes, some of them were. It is not that the victims have to get all the evidence. They have to get only the evidence which shows a RICO-related behavior. Let's KnC spend their money for their defense. So every potential future investor will ask twice if he will spend money for KnC's lawyers instead of the technology.
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