Re: Swedish ASIC miner company kncminer.com

AFox, did you file in Sweden? How long did the whole process take?

I hired a lawyer in my country (France) specialized in European law.
It took two weeks.
I don't know how the lawyer did it.
He just asked for the invoice from KNC, my IBAN (account informations) and my identity card.
The interesting thing, is that I paid in BTC, but KNC issued me an invoice in USD and paid me back by bank transfer in USD.

So you basically made money? Paid 11 btc or so, and got $10,000 back (which would buy 16.6 btc now)?
Brilliant, instead of buying a machine that makes bitcoin, you invented a refund process that makes even MORE bitcoing the machine.

No he did not make money. He paid $10k and got back his $10k in another form.

Not true. He bought a machine that produces bitcoin not dollars (and he bought it with btc). His refund of the machine produced 5.6 BTC more than he paid. His refund produced 3x more bitcoin than the machine will over its life. He did a great trade.

All right, I give. He's as sly as AFox.
Wouldn't it have been easier to sell the BTC when it was worth $1200 and buy it back at $600? You know, cut out the middleman, the lawyers, the stress etc...

maybe he could not at the time. maybe he liked the optionality of betting the difficulty curve? it could have went either way for him you understand correct? The miner could have been worth than paid when they shipped also. He received something of value called optionality. He did a good trade and then he did the correct exit trade also, netting him more than anyone who took delivery will ever receive.