Topic: Swedish ASIC miner company kncminer.com - page 463. (Read 3050075 times)

imho their are now 3 parts to KNC the investment group (brock pierce or whatever his name is the one saving gox) the chip mnfg as the other part of the equation partner
and the KNC guys SAM Cole etc

MY GUESS IS

The chip guys in DEC or so said they simply could not get product out from chip to consumer product fast enough for difficulty rise (remember they too thought cointerra bfl and hashfast would come thru by Feb)...so thus the data hall plan was born and to justify they started the idea of plan B...ie btc price is high we are ambitious lets do both!

then BTC tanked from its nice 1250 high...the other mnfgs did not come thru on the hash and imho the chip part of knc and the investment group
(or it coulda been all of them) came around and said 'data farms' are the future...but then BTC fell down to 440 bucks ...i assume these big places
mine to USD directly ...so....hmmmm....we can make a 'super sh*t load of cash" selling modules/more Jupiters  etc to existing customers now that are competitors are stuck
in place

or

we can make a SUPER DUPER SUPER SUPER SH*T LOAD OF MONEY by just being the biggest baddest PH Farm in the world with this screw up of our competitors and us
keeping the equip to mine ourselves and don't offer upgrade modules/existing products in this gap to our 'loyal' customers..suck all that 28mm stuff ourselves while the
other competors lag and keep difficulty less then it would be otherwise

er IMHO if I had to be fair...whoever wanted us (customers) to be compensated fairly (hey give them a bone likely the knc group) imho got basically outvoted by the
money guys/investors and maybe the large chip mnfg part of KNC (or any combo there of) or heck they all coulda jumped into the pool with the devil who knows but
it was a massive change of direction and attitude toward us the consumers of their products imho.

Well at 440 a coin...Neptune refunds astronomical....something had to give...the 400 people who got frankenjupiters would likely have refunded too..so sell them
used parts from the data hall replace eventually with Neptunes.. save $4,080,000 dollars at 10.2k per unit refunded otherwise..if the damn used parts would worked
been in a unit that could run them...and not shipped like crap this ploy likely would have gotten a ho hum out of the 400 buyers in that they were hashing out of the
box at 3TH alas it all fell thru..shipping and mnfg wise...and they simply CAN'T  give them money for used parts they send back in the form of a refund that would
be silly...thus RMA tag ensues...

that and other stuff ...the slow slide probably has started

likely the above is a fantasy..but imho such a complete turn around from customer 1st to customers last something very drastic happened....the shock of $440 usd coin.
the expansion and Neptune process costs timeline was too much to ambitious ? or combo of all..greed....they became a Mexican soap opera ..... too much netflix and
House of Cards?

whatever it is ...we the customers left at the dock while KNC sails towards its new data hall island up north (soon to be followed imho by the rest of us dumped off when
they close down the consumer product wing completely and go straight private PH farm or virtual mining whatever...)

 we will all looking for another 'legit" boat (be it briefly) in that this at one time good company went completely off the rails imho

(and I'm on the sidelines with only a Titan on order...ol course ordered it 2 weeks before KNC took a dump who was to know?)

but man this shuffle was faster then Charlie Sheen dumping the "Goddesses"

fhe fickle finger of fate once f*ck*d moves on!


http://tytempletonart.files.wordpress.com/2011/01/flying-fickle-finger-of-fate.jpg

(sigh it likely ain't gonna get any better equip mnfg pre-order trust wise in the future imho...and virtual mining is basically an asic cathouse with KNC as the pimp
if that is the future imho


so it goes

Searing

We have a ton of broken used KNC garbage, and they aren't responsive at all to RMA requests anymore.  I've been waiting all week to RMA a bad controller.  I'm still testing and assembling all the shit with zip ties, takes forever but it does work.  The first batch was 75% broken rate, the remaining batch around 20%.  Some are burned up from long term "abuse". Even the "new packaging" resulted in resistors getting torn off by the cases.  All the shit is USED and the fans are dirty with some sooty black shit. The foam bullshit cases just plain don't work and suck donkey balls.

Pretty much everyone that got the Franken-Jupiter option got Franken-Fucked KNC style. It's looking like the best option is to have the boards repaired by somebody handy with a soldering iron.

These guys used to be so good, what the hell happened? 

G R E E D

Yup. They paid for it, while we are waiting for our refund. This shows clearly their priorities...

They are platinum members anyway aren't they?

That makes me vomit my cookie.

Welcome to the League of Extraordinary Gentlemen!

From the ones they replace, one is in jail and the other will end there soon. Great perspective for bitcoin.

yuk that's messy i hope they clean up the hotel rooms after their 'parties'

KNC now has ties with the Bitcoin Foundation Board of Directors.
http://www.coindesk.com/bobby-lee-brock-pierce-join-bitcoin-foundations-board-directors/

Well, i contributed as well. Monkey race-more like russian roulette with manufacturers. If mining is a charity-5 s1 is enough. if mining is to make money-numbers don't pan out. If mining is an advanced hobby-I can only dedicate small amount of time to it.
My intention is to maintain some mining according to this formula:

Your current bitcoin holdings/21 mil coins=1/2-1/3X your hash rate/worlds hash rate.
1/2-1/3 coefficient is optional (or could x1/10), but it should be less or equal to 1 (unity), in my opinion, or you have NOTHING supporting your BTC.

It was stated about a month ago in an interview that they (KNC) are "very careful to Cash-out the coin they mine every day",
which means they only have the ability to do a small amount of btc refunds per day. because they do not "Hold" bitcoin, at all

It's easy to say they are speculating for the highest price point to base your BTC refund on, but we all read that interview,
and we all know what happens to repetitive emails from an unanswered address...   I've been thru the refund process three times now, and it's different every time... yeah one took a month.

i really don't see it as a monkey race Biodom, perhaps you wanna let it out exactly what causes the issue to arise. to me the way bitcoin is mined simplifies everything. sorry... i just don't see it the same way and the only minor grievance would indeed be summer temperatures, nothing more would stop me wanting to keep bringing currencies into the world  

enjoy.

Maybe too dire of a prediction, but I am now out of this monkey race...will keep my ants running until electricity cost=mining, then do pencil mod, then sell to some school project on ebay, probably for $50-100 later on (if they are still functional). I don't think spond or S2 makes sense at the current prices plus summer heat is coming. Will reconsider in Oct-Nov time frame. Thinking of selling out my refund for cash.

My guess is that they already have the Neptunes and are upgradung their datahall first. Once they're done with that they'll ship out the rejects from the data hall to their serfs in late summer or fall. I don't think you'll see you Titaanics until Feb of next year. They'll be running them in their data hall first. Yeah, that's how they do ya and you know you like it.

You may get 6 TH/s and probably some loose parts. However, until you receive your first 3 TH/s, I'll happily hash away with my 4.2 which I got for the same price I would have gotten my first 3 TH/s. And once you got your additional 3 TH/s, I'll being spoondolied with additional 5.4 TH/s. And will have spent less than for the Neptocratics. Well, if they refund. But if they file for bankruptcy first (no US$ refunds last week...), you'll lose your money, I'll lose my money, but I'll be hashing :-p

"each customer who ordered a first or second batch Neptune, will get a minimum 6TH for each order, with their original 3TH product shipped in June and the free “third batch” machine delivered in August."

So I am not wrong, I am still getting 6TH/s. I will be just getting a "free" third batch machine in August. Either way I still win. I don't have to worry about the markets collapsing and being out $$$.

Both. It will be good to see when the last refunds were processed.

did you want people who've already received their refund or only people which are still waiting to post?

Just spoke to Liam too - as expected no useful information as to why there is such a huge delay, but I asked him when was the last USD refund processed and he said last week.
He also said that there were no USD refunds processed this week, which is worrying
Again no information of why the financial department is busy and what exactly they are busy with.

Got refund today(sorry guys, who still did not get it yet).
Talked to Liam (thanks, Liam!)
Requested refund on April 8, changed to BTC on April 29, got it on May 9.
If you call, be polite, ask nicely even if you were waiting for a while.
Tip: do not talk to Nicollete, she is very very stressed (I think that she is on the other site-Boden??-quality of phone connection to her was very poor).
Good luck!