Quote from: murraypaul on September 30, 2014, 07:24:42 PM

Quote from: retro72 on September 29, 2014, 11:46:00 PM

KNC take note http://www.coindesk.com/ftc-butterfly-labs-held-back-shipments-illicit-mining/

Quote

[Butterfly Labs] misrepresented the delivery and profitability of the BitForce machine, and then made the same misrepresentations to induce consumers to purchase the Monarch, and did so yet again to sell their cloud mining services. They should not get a fourth change (or a fifth chance, in the case of one of the defendants).

It's interesting to note the FTC called BFL customers "consumers" this blows a hole in the you have to be a business to own miners argument. In the US at least. If the same is proven true in Europe KNC will probably be bankrupted by refunds. I'm going to use every waking minute to find out. The game's afoot.

Who has said you need to be a business to own miners? That is a strawman argument.
The KNC terms and conditions includes a clear requirement that the purchaser agreed that they were purchasing as a business, not a consumer.
Did the BFL TnC include the same term? If not, what does one have to do with the other?

It's entirely unrelated, as BFL is a US company dealing with US customers/consumers and the US does not have strong consumer protection. The term "all sales are final" for BFL's T&C may be regarded sufficient to reject refunds.

However, KnC operates in the EU and sold to EU customers. We have proper laws here and cowboys don't stand a chance in european courts. So we may be successful arguing that we are consumers not businesses.

I also think that KnC broke several contract terms even if we run a business.