Author

Topic: Swedish ASIC miner company kncminer.com - page 355. (Read 3050076 times)

legendary
Activity: 3234
Merit: 1221
Wtf.

In line to be made.   Means not made.

Not shipped.

No more refunds. 

Holding people and their money hostage.

er unclear on this whole refund option...I assume (prob wrongly) that if you asked for a refund BEFORE their announcement of NO refunds you will get a refund...OR
are they simply gonna ship your product instead in lieu of your requested refund (some of which are 3 months late)

am I just being paranoid or could they actually get away with withholding your refund $$$ for that long and say 'screw you' and ship the unit at this late date and be golden?

(i converted to Titan..I get to go thru all of this crap sometime in the future FML)

Searing


Currently if you were waiting for a refund before production started your refund will be honoured (at some point in the future)

However you won't get to "go thru all of this crap" as there are no refunds on Titans Smiley

Searing meant he has to play the waiting game for his Titan delivery, not refund.

It didn't read that way, but then this is Searing we are talking about, almost "Joycean" in his stream of conciousness writing style Smiley
legendary
Activity: 2912
Merit: 1060
I feel screwed when I know that KnC's "hash while you wait" means forfeiting "Neptune two-for-one"!

KnC announced "hash while you wait" on April 8, saying first batch customers will start their cloud mining from early June and the last customer will hash in their data center around the last week of June. Now this is close to the end of June, and finally the Plan B arrived.

On April 28, KnC announced that "KnCMiner, the most trusted brand in Bitcoin mining, announced today that it will give every current customer who has an outstanding order for a machine from its Neptune line’s first two batches a free Neptune from its upcoming “third batch” of Neptunes."  I felt happy when KnC announced this, because it shows KnC at least tries to bring more profits to the customers (although, in fact, two Neptune still cannot reach ROI). To my understanding, this is a bonus/gift/giveaway from KnC, it has nothing to do with the compensation due to delay of delivery.

In the email I receved from KnC two days ago, I am notified to choose either "hash while you wait" or "switch to Titan". There was no terms saying that by select any of the options, the "neptune two-for-one" plan will no longer be valid. I read their T&C (convert.kncminer.com/terms/), the two options they offered has nothing to do with the two-for-one plan, therefore I signed up "hash while you wait", happily waiting for the cloud mining next week, first Neptune by the end of June, and second one in August.

Then I read the forum discussion, and I know that KnC actually use "hash while you wait" in replace of "neptune two-for-one"! I feel totally cheated and pissed off! How come KnC breaks their public promises, and deprive my rights by just giving some vague and ambiguous terms and conditions?

I use the online calculator for some maths: https://bitcoinwisdom.com/bitcoin/calculator. (I set the difficulty increase 20%, power consumption 2.1kW, the rest parameters are with default values)

I spent 12999 USD on 3TH Neptune. With current difficulty, even if I start mining today, I can mine up to 6BTC before electricity fee exceeds the income. Suppose bitcoin price is 600USD, I can get back 3600 USD. There is still a gap of 9399USD!

If I receive a second neptune by Aug 31 (earliest estimated delivery date), then before electricity bill wins, I can mine up to 8.4 BTC together with the first neptune. This is about 5040USD in total. And the gap is still 7959USD!

"hash while you wait" has a max period of 45 days. Suppose I don't receive my neptune and therefore I use up all the cloud mining time, then I can get around 3.8BTC, equivalent to 2280USD. Of course, if KnC ships my first Neptune by end of June, then I only get 0.8-0.9 BTC while waiting...

So, even if I have both "hash while you wait" and "neptune 2-for-1", I can get maximum $(5040+2280)=$7320. The gap is $5679.

If I only have "hash while you wait" and one neptune, then revenue is $(3600+2280)=$5880, gap is $7119!

Now I can buy a 1TH miner for about 1500-1700 USD(e.g. http://www.lketc.com/goods/show-172.aspx  the dragon miner, one of the well-known mining rigs in China), and such mining rig is in stock and can be delivered in 2-3 days. With 12999 USD, I can buy up to 7-8 TH mining power! This is far more than 6TB that KnC can provide.

KnC said Neptune is to be delivered in Q1/Q2, and they make customers believe it refers to March/early April. Now it is the very end of Q2, and I feel disappointed.

KnC said the "hash while you wait" will be started in early June, and it is delayed, and I feel disappointed.

Now KnC will revoke their promises of give away a second Neptune, I am totally pissed!

Me too
hero member
Activity: 784
Merit: 1004
Glow Stick Dance!
Wtf.

In line to be made.   Means not made.

Not shipped.

No more refunds. 

Holding people and their money hostage.

er unclear on this whole refund option...I assume (prob wrongly) that if you asked for a refund BEFORE their announcement of NO refunds you will get a refund...OR
are they simply gonna ship your product instead in lieu of your requested refund (some of which are 3 months late)

am I just being paranoid or could they actually get away with withholding your refund $$$ for that long and say 'screw you' and ship the unit at this late date and be golden?

(i converted to Titan..I get to go thru all of this crap sometime in the future FML)

Searing


Currently if you were waiting for a refund before production started your refund will be honoured (at some point in the future)

However you won't get to "go thru all of this crap" as there are no refunds on Titans Smiley

Searing meant he has to play the waiting game for his Titan delivery, not refund.
legendary
Activity: 3234
Merit: 1221
Wtf.

In line to be made.   Means not made.

Not shipped.

No more refunds. 

Holding people and their money hostage.

er unclear on this whole refund option...I assume (prob wrongly) that if you asked for a refund BEFORE their announcement of NO refunds you will get a refund...OR
are they simply gonna ship your product instead in lieu of your requested refund (some of which are 3 months late)

am I just being paranoid or could they actually get away with withholding your refund $$$ for that long and say 'screw you' and ship the unit at this late date and be golden?

(i converted to Titan..I get to go thru all of this crap sometime in the future FML)

Searing


Currently if you were waiting for a refund before production started your refund will be honoured (at some point in the future)

However you won't get to "go thru all of this crap" as there are no refunds on Titans Smiley
full member
Activity: 203
Merit: 100
Just got tracking numbers for all of my CA orders.

Good to hear I'm not the only one  Wink ... feels so lonely here on that big planet called Neptune....
donator
Activity: 1617
Merit: 1012
Just got tracking numbers for all of my CA orders.
full member
Activity: 131
Merit: 100

Yes: I'm already working on this.  Many things can be improved.

Thank you for you postings Elenelen. I've already ordered these because of your postings:

http://www.newark.com/aavid-thermalloy/374124b00032g/heat-sink/dp/53R2166

Conveniently these come with thermal tape already applied although I think thermal glue might be the better option. They are a little large; but, that can't hurt.

It is possible that KNC has a better solution; but, obviously they are under pressure to get everything shipped right now.
copper member
Activity: 2898
Merit: 1465
Clueless!
Wtf.

In line to be made.   Means not made.

Not shipped.

No more refunds. 

Holding people and their money hostage.

er unclear on this whole refund option...I assume (prob wrongly) that if you asked for a refund BEFORE their announcement of NO refunds you will get a refund...OR
are they simply gonna ship your product instead in lieu of your requested refund (some of which are 3 months late)

am I just being paranoid or could they actually get away with withholding your refund $$$ for that long and say 'screw you' and ship the unit at this late date and be golden?

(i converted to Titan..I get to go thru all of this crap sometime in the future FML)

Searing
sr. member
Activity: 434
Merit: 250
did I miss anything? mass shipping commenced?
been working on p2pool nodes and haven't had my head out of terminal for a week. nodes now in Iceland, Middle East and Europe, if anyone in those regions needs a local p2pool node  Grin

so... nippy's shipping in mass yet? or are they just mining with them all themselves?
hero member
Activity: 728
Merit: 500
Anyone else got his Neptune?
hero member
Activity: 882
Merit: 1003
Wtf.

In line to be made.   Means not made.

Not shipped.

No more refunds. 

Holding people and their money hostage.
hero member
Activity: 798
Merit: 1000
Hot off the knc forum, from colonel kurt.

Quote
Today, 09:33 AM
Hi, Refunds are no longer given on any Neptune orders I am afraid. Your Neptune order is due to be created and shipped very soon.
No changes can be made at this late stage.
Kind regards,

Terms of sale knc agreed with batch 1 customers
Quote
All refunds will be refunded in dollars and you can refund up to shipment

KNC - cheap bastards and lying fucks!


Still, this all happened before.

https://bitcointalksearch.org/topic/m.3727199

People never gonna learn.
legendary
Activity: 2408
Merit: 1004
no roi of course for sure
hero member
Activity: 798
Merit: 1000
So I was 3 weeks out. I thought the refunds would be shut off at the beginning of June (because knc promised to give everyone free hashing at start of June, which of course was a typical underhanded knc lie/deception).

But I did warn you all in plenty time to start aggressively demanding your refund if you wanted it, or KNC would take your money.

OKBYE

--snip--
So y'all have 10 days left to bail, then KNC owns your cash  Grin
^^^^^^^^^^^^

If they can delay you another 10 days, like I said, you will get hashing the datacentre and they will get your money. There will be no more refunds after 1st June, believe me.

Ring them up and tear them a new arsehole. You have 10 days left to get a refund.
legendary
Activity: 2408
Merit: 1004
mine too in progess
1 neptune
legendary
Activity: 1904
Merit: 1007
Have had fears this was the case, and it seems more likely now than ever.. hope i will see my refunds someday Sad

http://www.reddit.com/r/Bitcoin/comments/28ur9e/breaking_kncminer_refund_queue_is_completely_fake/

Me and my friends that have 5 neptunes awaiting refund, are seriously pondering involving lawyers and the swedish police in this now, as we all are swedish citizens it makes it a whole lot easier..

I will contribute with 1 BTC if you bring Sam Cole to justice! Just do it! Contact a lawyer first then go to the police!
copper member
Activity: 2898
Merit: 1465
Clueless!
121xx "In Progress" now after requesting refund for it


but of course.....(someone is rubbing hands together at KNC mumbling 'excellent' ......)



and I have found the "fiends' behind KNC!

http://www.youtube.com/watch?v=iJPFSNu_QNs

it is a 'plot' to take over the world!

Searing


legendary
Activity: 938
Merit: 1000
LIR DEV
121xx "In Progress" now after requesting refund for it (at buyers request)
member
Activity: 181
Merit: 53
Rest of my CA orders switched to in progress.
member
Activity: 71
Merit: 10
Have had fears this was the case, and it seems more likely now than ever.. hope i will see my refunds someday Sad

http://www.reddit.com/r/Bitcoin/comments/28ur9e/breaking_kncminer_refund_queue_is_completely_fake/

Me and my friends that have 5 neptunes awaiting refund, are seriously pondering involving lawyers and the swedish police in this now, as we all are swedish citizens it makes it a whole lot easier..
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