Topic: Swedish ASIC miner company kncminer.com - page 616. (Read 3050085 times)

I ordered 2nd batch (November) Jupiter a while back. When I saw that BTC price dropped from 300 to 200 I chickened out and cancelled the order. Then, while waiting for refund via Paypal, the BTC price started to go up. I realized that I made a mistake. I sent them an email saying, that since I still didn't receive a refund, to please cancel my cancellation, that is, I wanted to keep my order. I hoped that since they didn't open up a sale for my cancelled Jupiter, they'll let me do that as a nice gesture towards a previous customer (I had an October Saturn). But they didn't do it, and returned my money the same day. That's when I realized that they don't really care much about previous customers.
Among other things I wished were different with KNC:
- They delayed October shipments a bit, I think mainly due to reports of fire, so I don't blame them for that (I blame those who burnt their miners   ).
- They stopped allowing paypal/credit card payments.

But I realize that they are not a charity, so they do what's best for them. I was quite a bit worried during the October wait that once they finally produce valuable machines, they will either not send them to customers, or delay significantly. So, they were honorable in that respect and I really appreciate that. That outweighs many of their negatives in my opinion. Plus, I was lucky that stuff I got from them performed fairly well.
I don't really care that they didn't open up sales for more upgrade modules (i would have bought just one and it wouldn't have made much difference), or more Jupiters (they would've priced them too high). I don't have a Neptune order and I don't plan to order any more mining equipment with them, or anyone else for that matter. So I don't really care how they will treat their Neptune or other customers  . Yes, they could've become more arrogant now, but they left me with some good memories (like that time when they were bringing up the chip overnight and also when I finally received my miner), that's all that matters to me. So thanks KNC.
Needed to get this off my chest.

Bad news.  It was a taxable event when you PURCHASED the miner, NOT when you refunded it.

Even if you keep your order, it's still taxable

I am still keeping mine, hoping that I will receive physical miners, which I can mine with for a while and then sell them on Ebay or sell directly on Ebay.
But it looks more and more plausible that we will all receive virtual hashrate.
Also I really don't like their attitude towards their customers. I sent them an email with questions + called them and got exactly what I expected: a lot of words and phrases, but not real information.
Phone support does not even want to answer the question: Is 1st July considered late?
Sam is nowhere to be found and would rather be hit by a train, than speak with any of his customers.
Bitcoinorama is also nowhere to be found.

Basically communication and information is totally lacking and they don't care a single bit.

This is still in their news section: "Shipment begins in Q1/Q2 of 2014". I'm surprised that hasn't been "revised" to reflect the reality that Q1 was just a teaser. Btw, who all still has an order with them? I've seen a lot of refunds here, so I'm curious who is still sticking to their order and why.

so if I paid 10 coins for my miner. I would get current spot price X 10 coins? I was under the assumption the Fiat amount paid when purchased, would be returned..

Regards,
Brian

lol.  wrong assumption.  Would your assumptions about my ownership somehow answer the two lies that have already happened? these aren't speculation if they've already happened, ie past tense.  KNC has restructured their model, Plan B, and any 28nm produced from Dec. to Feb. went to... KNC.

I am aware of the bullshit they post on their website, but I said DETAILS. If they are so confident on batch 2 in Q2, they should surely be able to provide concrete, technical details about the product now.

Remember >
64 days fab + "will leave about one month after the first batch" and still to deliver in Q2 means they have to tape out before 2nd April. So they have about 32 days left to complete one of the first 20nm projects in the world and ensure they get it right the first time. This after announcing only 6 weeks ago they were only in preliminary design stages.

Still feeling lucky? 

You are a damn hypocrite, you have plenty of posts commenting on things you have never experienced but there you are happily sharing your perspective. While I am going to take someone's opinion with a grain of salt when they haven't slogged through it themselves they may still have very valid points to make due to the fact that they, like anyone else can research. Much like you seem to do elsewhere.

So using your logic you shouldn't complain about a number of topics you like to, wait maybe that is silly and instead you dismiss them more easily like others do and deal with the discourse.

Are you Daff? It's right there on their website in black and white. The Pre-order now is for the batch 2 Neptune's of course if you knew how to read you'd know that.

"Neptune is our first 20nm product and will be shipping in Q2 of 2014. This order is for the second batch which will leave about one month after the first batch."

Diverse viewpoints? How is a diverse viewpoint when the people complaining don't even have an Neptune on order? It's like saying I hate Honda's, though I have never owned one nor have I driven one. Is my view valid, no and I shouldn't be mocking Honda because I don't have any right too.

You can't compare the government to Knc.. That's like comparing apples to oranges, so get real or get lost!

So if knc can confidently run an ad on google stating this:

KnCMiner 3+ TH/s Bitcoin - kncminer.com‎
Ad www.kncminer.com/bitcoin/miner‎
Neptune Miner Pre-order for $9,995Shipment begins in Q2 of 2014

How come they can't tell their paying customers the same in an official announcement with the details?

I think Josh taught Sam & Andreas well

well if we're going to go off topic, lets do democrats versus republicans is crap there's only the government official/employee party and the rest of us.

That's the same as saying you can't comment on the government if you haven't been in government, or you can't comment on killing chickens if you haven't killed a chicken.

Really?

The more diverse viewpoints the better. Let open discussion persuade or dissuade, as the case may be.

You know I entered the Bitcoin mining scene when the price was at $140. When Max Keiser and other entered the price was $0.05 a Bitcoin. Now you of all people have some gall to complain with the price being at $600 CAD ($5xx USD) a Bitcoin if it goes down any further. Really now!! If you are that worried about the price I recommend that you get out of Bicton all together and invest your money into the stock exchange. You really also shouldn't be adding your 2 cents to this forum unless you have an order or own a KnC miner as your speculation doesn't mean anything to the rest of Neptune and or Knc owners.
 

That view it was an unfair interest free loan doesn't hold water as far as I'm concerned.  Their fair refund has prevented my Bitcoin adventure from being a disaster in view of the MtGox debacle.  And my miner runs great, albeit suffering from the network hashrate.  So, all in all, thank you KnC.

KnC needs to put up a sign... BUY at your OWN RISK! As refunds may not be turned in the same currency your product was purchased in.

When BTC turn into cash its a taxable event.

When more than $10k gets transferred into your account in the U.S. it fires off a red flag to the IRS

That is why KNC should refund back in the form it was paid in. But they are doing the opposite so that they can have credit for refunding in fiat. The more they have in BTC and the less they have in fiat the better they are too (less taxable events)

And that they flat out lied twice,
and never answered for it, when a vendor who is active on bitcointalk..disappears, questions should be raised.

#1 Their fairness program, not building or selling any "new" products for Q1, but instead mining themselves with all the "new" product they've been creating, proof see video and their known hashrate, essentially, they sold products for Q1, to themselves, at no cost.

Actually worse, product "we" previous customers paid for, with the capital we provided based on good faith.

#2 Delivering a 22nm miner by Q2, how they try to bypass this completely without actually being sued, probably not, but I think it is clear with Plan B, they're gonna do it their way. Which really isn't influenced by anyone on this board.. the machine is in process now.

Watch if Bitcoin's price falls anymore.. "Exclusive used modules now for sale".. what a joke.
And don't fall for it people! If and when you become part of their business model again..

BTC refunds are being done as the cost in USD converted to BTC at the current rate.
If you want to end up with BTC anyway, it is quicker and cheaper than receiving a USD refund then buying BTC yourself.

Been away for a while.  I am confused.  Why do ppl want a btc refund?  Take cash and buy more btc than you had before.  Hasn't spot been mostly $800-1000 during most of the Neptune pre-order period?