Topic: Swedish ASIC miner company kncminer.com - page 457. (Read 3050075 times)

Of course, theoretically speaking is competitive,  but dont forget that only a few , if not none, trust Knc anymore.

They failed with an inferior product. Who is trusting them with the hi-tech 20nm???

KnCMiners is a Swedish company that sells specialized computers designed to run the complex algorithm that creates bitcoins — a process known as “mining.” Although any computer can technically run the program, fierce competition among miners has spurred an arms-race of computing power, in which users are forced to constantly upgrade their hardware to continue to make a profit.

Pierce is the chairman of KnCMiners.cn, which he describes on his LinkedIn page as “distributor of KNCminer Bitcoin ASIC mining devices in China.” In a statement, he said that he does not “own KnCMiner or have anything to do with the principal business” and only works as a distributor of KnC products in China.

The firm has recently been mired in controversy after hundreds of its customers received damaged or otherwise useless hardware. On an April 28 blog post, the company apologized to its customers for selling them products that were “quite frankly unusable.”

Bitcoin miners took to the company’s forum and to popular discussion board Bitcointalk to complain about delayed refunds. Commenters appeared particularly upset by the fact that KnCMiners refused to refund them in cash, and insisted to pay in bitcoin.

But perhaps the most bitter complaint in the forums was that KnCMiners had shipped the broken computers just as it prepares to begin competing with its customers. According to the Wall Street Journal, the company has built a large mining center in Boden, a city in the remote north of Sweden. The “mine” will run state of the art supercomputers night and day, taking advantage of the region’s freezing weather to cool down the machines and make millionaire profits.

Pierce offered an explanation for the data center. He said the idea is that people will be able to purchase “shares” of a supercomputer and allow a professional company to manage the day-to-day function of the machines — which means that KnC would not in fact compete with its consumers.

He added that bitcoin-mining hardware is by definition “a prototype” that cannot be expected to work perfectly. He said that KnC is “the most reputable of any company in the business” and that it had offered its clients a good deal by shipping new machines to them without requiring that consumers return the faulty ones.

KnCMiners did not immediately respond to requests for comment.

KnCMiners is a Swedish company that sells specialized computers designed to run the complex algorithm that creates bitcoins — a process known as “mining.” Although any computer can technically run the program, fierce competition among miners has spurred an arms-race of computing power, in which users are forced to constantly upgrade their hardware to continue to make a profit.

Pierce is the chairman of KnCMiners.cn, which he describes on his LinkedIn page as “distributor of KNCminer Bitcoin ASIC mining devices in China.” In a statement, he said that he does not “own KnCMiner or have anything to do with the principal business” and only works as a distributor of KnC products in China.

The firm has recently been mired in controversy after hundreds of its customers received damaged or otherwise useless hardware. On an April 28 blog post, the company apologized to its customers for selling them products that were “quite frankly unusable.”

Bitcoin miners took to the company’s forum and to popular discussion board Bitcointalk to complain about delayed refunds. Commenters appeared particularly upset by the fact that KnCMiners refused to refund them in cash, and insisted to pay in bitcoin.

But perhaps the most bitter complaint in the forums was that KnCMiners had shipped the broken computers just as it prepares to begin competing with its customers. According to the Wall Street Journal, the company has built a large mining center in Boden, a city in the remote north of Sweden. The “mine” will run state of the art supercomputers night and day, taking advantage of the region’s freezing weather to cool down the machines and make millionaire profits.

Pierce offered an explanation for the data center. He said the idea is that people will be able to purchase “shares” of a supercomputer and allow a professional company to manage the day-to-day function of the machines — which means that KnC would not in fact compete with its consumers.

He added that bitcoin-mining hardware is by definition “a prototype” that cannot be expected to work perfectly. He said that KnC is “the most reputable of any company in the business” and that it had offered its clients a good deal by shipping new machines to them without requiring that consumers return the faulty ones.

KnCMiners did not immediately respond to requests for comment.

Of course, theoretically speaking is competitive,  but dont forget that only a few , if not none, trust Knc anymore.

They failed with an inferior product. Who is trusting them with the hi-tech 20nm???

This is simply not possible. People paid 20-26K for 2 machines.
To me, this is serious money (not to play with).
You could buy a reasonable midsize car for 26K (Honda, Volkswagen or Toyota)

Total wild-guess here but I'd bet only a relatively small percentage of KNC customers even read the forums and don't know anything about recent troubles...My point, I have a feeling that those of us who are active and critical on the forums are a very vocal minority and the masses simply don't know or care about the details.

People will buy if price and product is good and NOT a 4-6 mo preorder (2-3 wk probably OK).
Are you saying that ~2th machine for $3499 in 2 wk is not competitive? In 4 wk-I don't know.

People will buy if price and product is good and NOT a 4-6 mo preorder (2-3 wk probably OK).
Are you saying that ~2th machine for $3499 in 2 wk is not competitive? In 4 wk-I don't know.

Who is going to buy from Knc again?

I bet not many.