Post
Topic
Board Mining (Altcoins)
Re: Swedish ASIC miner company kncminer.com
by
CYPER
on 13/10/2013, 18:16:13 UTC
KnC originally promised Jupiter at 250Gh/s for $7k.

Is that supposed to be an argument supporting the statement that "They will have already compensated you by delivering over TWICE the hashrate you paid for."?


They have never lied about their intention to deliver on time.

They might not have lied, but they definitely misleaded a lot of people.
"All current paid orders will be shipped no later than October 15th." - This is a non-ambiguous statement.
You know perfectly well how UK laws treat misleading information and for that matter any EU Law.
If there is a court case and this piece of evidence is provided you can be sure it will be sufficient to conclude there is a delay.

And last I would like to post my views on the Delay situation:

Quote
First I want to state a very simple fact, which some people tend to miss: KNC is a for-profit company and there is no denying that. Their prime objective is to make money.
On the other side of the relationship are the KNC customers, who again are for-profit entities and are here to make money. I've seen people claiming the opposite on the forums saying "oh You should be happy to help Bitcoin grow and not care so much about ROI". I find it very hard to believe that there are people who will willingly pay thousands of USD just to help Bitcoin grow and prosper. Nobody is here only or mainly to support the Bitcoin network with money outside of his own pocket. Everyone is here to make a profit as their prime goal. Nobody is thinking: oh I will invest 7000USD in this company to help Bitcoin, regardless of ROI and just feel happy about myself.
Bottom line: ROI is everything for everyone.

To simplify things I will compare ROI to a set number of days: each day represents a portion of the expected ROI. Imagine it like a big apple pie, where one piece gets rotten and bad for each day that passes, so you have to throw it in the bin. So what happens is for every day that KNCMiner is late beyond the advertised shipping date a piece of the pie gets thrown away and eventually I will receive half a pie or worse. When does it end? How far beyond the advertised date KNC would have to be late, before they change their position and realize that customers are being injured financially?
Would customers feel good about KNC if they were to receive their miners 1st of week of November and all November orders were to follow from the 15th November? What about 10th November?
What time window do KNC find acceptable for delays to occur in?