And to add just one more thing. Their original idea was to treat their customers well, so they stay loyal to KNC and would keep coming back and ordering more. Sam said in the interview they wanted to keep their customers, rather than going out looking for new ones all the time.
I'd say about a month ago, this idea was scrapped. They are now only going to pursue new customers. They realised old customers ain't going to make enough back from their miners to reinvest. So it only makes sense to pursue new customers, new markets. Hence China.
They are doing nothing to protect their original investors. Chopping the warranty down to 1 year was a finger to us all.
If they are so passionate about us making a return, they should extend their warranty to regular 2 year consumer warranty. Sam says they sell to the general public, so it should be that anyway. Take some long term responsibility for their products and customers.
I'm pretty sure over two years, everyone can make their money back. 1 year on bitcoin, then 1 year on alts. If we knew our miners would be kept in full working order for 2 years, we'd be properly taken care of.
Doesnt the EU have something with minimum warenties for consumer goods? I know apple got into trouble for it but Im not a lawyer so couldnt speak to it.
http://ec.europa.eu/consumers/ecc/consumer_topics/buying_goods_services_en.htmThis has been discussed a lot of times before. KNC terms and conditions say they sell only to businesses. That way, they can offer a limited 1 year warranty rather than the normal 2 year consumer warranty a consumer is entitled to.
I think it's really pissed me off hearing him say "We are selling to the general public, anyone can buy from us" and then their t&c's, written long before this interview, say the exact opposite:
"1.2 The Products are sold for business use only and Purchaser hereby accepts that it has purchased the Products in order to conduct a business."
and
" 6. Limited Warranty
6.1 KnCMiner warrants that the Products, will perform according to the at all times published specification for a period of twelve (12) months from delivery"