We're waiting to find out

KNC is in the hands of a bankruptcy trustee now as they try to find a buyer or break up the company. They will continue mining as every bitcoin they earn may be needed to pay their creditors.

Hey Guys

Sorry I haven't been more forthcoming with info on the case but as you can imagine there is still a lot going on behind the scenes and with KNC now bankrupt (karma's a bitch huh) we need to figure out how this affects us. Once we all know where we stand I'll be back to give a full account of the case from my perspective, as I cannot speak for the others plaintiffs and will try to answer any questions you have.

Cheers

R

Not sure why anyone but a half wit would find this funny but yeah. We lost. KNC won. 

I'll say it again for those who have seen this whole shit show unfold and might not actually believe it but, KNC WON.

I haven't read the judgement yet, it came in today and it's in Swedish but my lawyer is going to translate it and send it it over so I'll give you more info, when I get it.

I wasn't in the class action so I can't speak for that but my case was strong based on a number of arguments. Obviously the Judge did not see it that way. The fact that it had to be heard with a number of others may have been to its detriment but I won't know for sure until I read the judgement.  Apparently it's very complicated. I won't go into too much as some may want to appeal, but I'll try to answer any questions I can, within reason.

For me it's never been about the money, I've got enough to be comfortable, I'm just not the type of person to take shit lying down. KNC are crooks and we deserved our day in court, it didn't go our way this time, that's life. As any poker player will tell you I was what you would call "pot committed", I had enough down to make the "all in" worth it. This time it didn't pay off. It's not going to ruin my life, I'm just a little pissed that those assholes got away with it. But I guess the law in Sweden is a bit like the law in Britain:

Steal £200 get a jail sentence
Steal £20 million get a Knighthood

I'm guessing there's going to be a lot of new, unused Titans flooding the market in the next few weeks. As for KNC's lawyers fees. I hope they take litecoin

Dude. There's no point wasting your time explaining things over and over to the same people in this thread. They just will not listen. Its like the Alpha-T thread all over again. Some people will always have an excuse to bend over and take it, others will fight no matter what. That's just the way the world is.  Notlist3d keeps going on about the same shit over and over despite being told it is illegal in Sweden to take no win no fee cases. Its also been explained that the court decides what reasonable costs of litigation are so KNC will be liable for the extra cost if they hire 50 lawyers at 50k each.

Instead of doing actual research, or listening to people that have, the same people keep coming here posting the same nonsense over and over. Leave them to it. If they are happy to have KNC shit on them and do nothing about it, it's really not up to you or anyone else to convince them otherwise.

I'm going back to lurking, I wasted far too much time on the Alpha thread and this thread seems to be going the same way.

So its actually a 35mh/s miner that you can overclock to 50mh/s  . On the plus side they may meet their July shipping date. Just a year later than promised.

These guys have got some brass balls.

Please don't take my word for it. It's there in black and white on the Swedish Courts website.

Regarding costs. They are awarded by the court and represent "reasonable costs of counsel" So no, KNC can't employ an army 10k an hour Lawyers and expect the plaintiffs to pay for them. They will be liable for any extra costs over and above what is deemed reasonable by the court. Also as far as I'm aware they have one guy working on this, Per Widman so there is not a herd of Armani suits running the show.

Coincidently Joakim just emailed me about joining the class action and said the forms would be up in a few days. I guess that's why you can't get them. I still need to figure whether to join or continue with my individual case. I feel I have a strong case so spreading of the costs in the event of loss isn't really an issue for me and seems to be the only benefit of joining the class action in my case. But discretion is the better part of valour so I'll have to give it some thought.

Searing. I've seen you post this same statement a few times now. This is just FUD and not how the law works.

KNC can appeal the decision ONCE in the Appeals court (Appellate Court) THAT IS IT. In extreme circumstances where a legal precedent needs to be set a party can appeal to the Supreme Court. That is absolutely not the case with KNC.

They have only 3 weeks to appeal the decision from the date they receive judgement. Leave to appeal can also be denied, making the Judges ruling final.

So KNC cannot drag this out ad-infinitum draining the plaintiffs of their finances. It's just not possible. I wish people would do the most basic research before posting statements or making decisions that may cost them or other people thousands of dollars.

Read this if you would like more info on appeals or the Swedish courts system in general http://www.domstol.se/Funktioner/English/Legal-proceedings/Contentious-cases/Appeal/

@notlist3d I know someone posted Joakim was doing a no up front cost deal/percentage, but that is probably a spoof email/scam. As far as I'm aware Swedish law prohibits "No win, No fee" deals so the idea that the lawyers don't have confidence in the case because they won't work on a percentage does not apply here. But I would email them and ask.

Look, if you don't feel you have a strong case and its not worth the risk, sit this one out. Personally I think KNCs case is extremely weak on so many fronts, morally and legally and I'm prepared to put my money where my mouth is. I'm certainly not going to roll over and let KNC shaft me. I've never let anyone do it the past. I see no reason to start now.

As for notthematrix. I sure people here have enough sense to dismiss whatever that fool has to say regarding this or anything else quite frankly.

Do you're own research and come to your own conclusions.

Does being this stupid come naturally or do you have to work at it?

@s1gs3gv
I'm waiting for the prelim hearings where we go before the judge and outline our case. Should be May/June. I'm not in the class action, I have my own case but the class action has slowed everything down. The Judge wants to hear all the KNC cases together to speed up the process. So unfortunately the head start I had has been nullified.

@notlist3d
Give Joakim or Magnus a bell. Someone posted a few pages back they were offering to work on a percentage with no up front costs on the class action. I've already paid so I haven't got the details but it might be worth dropping them a line.

Well that's some good news at least.

Can you post the email? Can anyone else confirm this? Not that I doubt you, I just want to make sure you're not an isolated case.

This is not how the law works you buffoon. You're making yourself look even more of a horses ass than normal spewing this nonsense. If I buy an iphone from Apple and it blows up in my hand I SUE APPLE NOT FOXCONN YOU IDIOT!! If Apple choose to sue Foxconn to reclaim any damages, that is up to them, but the legal responsibility is on Apple to make sure their products are fit for purpose before selling them,no matter where they are made.

The same goes for KNC. I can see why you didn't go into the family business  Maybe you should ask your "lawyer family" for some free advice before running your mouth off. You might look like less of a fool.

I was one of the first to take legal action against KNC re Titans, so you may want to take my opinions with a pinch of salt. But I've seen KNCs legal defence and its pretty weak in my view and quite frankly dishonest. I can't believe even a kangaroo court wouldn't find against KNC for some of the stunts they've pulled. But you'll have to use your own judgement. Talk to Magnus or Joakim, see what you think.

Personally, having read all the arguments I don't think KNC have a leg to stand on and are clutching at straws. I think they are trying to drag this out, hoping most people will give up so they can settle the minimum amount of cases. That's just my opinion, you'll have to come to your own conclusions.

Yes, that's the way it works.

Reading, writing and basic common sense must have skipped a generation 

You truly are a buffoon aren't you?

Can you not see the status of the case in your money claim account?

Really? And you know this how? Show me where KNC say you need to be an electronics engineer to run these things.  Because I can show you where Sam Cole says they sell to anyone.  
http://youtu.be/bxOHAha7MAk?t=45s

Sam Cole: "Yeah, sure, we're making ASIC mining equipment and we're selling to the general public. We're selling fully functional devices that anyone can come and buy."
(Thanks Teslaman)

If you have the skill and the aptitude to babysit and rebuild your miners and are happy to do so, have at it. But don't blame us customers for being pissed off when the FULLY FUNCTIONAL DEVICES we bought don't work as advertised and KNC tell us to go fuck ourselves.

As you don't mind a bit of "tinkering". I've got some lovely property in down town Damascus you might be interested in. Open plan, panoramic views, in slight need of renovation.



Give me a shout if you're interested.

^^this. I got a PM the other day from an Alpha customer whose bailiff cheque just cleared for £2400. If you include  Mubasher Akram in the claim the bailiffs will come after him personally, as was the case here. Alpha tried to ignore the award but when bailiffs contacted him Mubasher paid by debit card on the spot!!!

Here's a pic http://i.imgur.com/qPylGrn.jpg?1 Notice the defendant/debtor is Mubasher Akram.

It's easily done.

Congratulations fightalpha on a huge success

No buddy you weren't. You only joined this forum in Feb 2014 way after Alpha closed their first round of pre-orders so lets cut the bullshit. Your first post on this thread was in August and you've been spamming the same bollocks ever since. (https://bitcointalk.org/index.php?topic=314402.msg8371900#msg8371900)

Lets not pretend you're some genius whose predictive powers were ignored by all the gullible fools in this thread. You're just a Jonny come lately arsehole trying to make his dick look big by spamming shit people smarter than you had already pointed out.

You're the same ZetaOS that posted this:(https://bitcointalk.org/index.php?topic=485237.msg7155938#msg7155938)


Those amazing predictive powers of yours again eh? Your argument seems to be. They had shit hole offices and they're called Mohammad. Your buddy over at MAT had nice offices and was called Marc but still turned out to be a scam artist. I guess its ok for him to rip people off because his skin isn't brown. Jog on you racist wanker.

Wow. An update that said pretty much nothing, but implied they were better than every other manufacturer because they haven't shipped ANYTHING. What are these guys smoking. I'm guessing they got a call from GMP so thought they had better post something before the Fraud Squad kicked their door in.

That Viper looks pretty ghetto and seems to be the only one in existence. There's not even a pic of another case. Just the same battered piece of junk from their other "updates". This is a real dog and pony show.