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Posts Tagged ‘KnCMiner Titan’
Potential Class Action Lawsuit Against KnCMiner
13, Oct 2014
The Law Office of Charlotte C. Lin has announced that it is investigating KNCMiner for possible breach of implied warranty of fitness, misrepresentation, and other violations of law by failing to provide a functional or usable product, false advertising; failing to deliver product within adequate time frame, and failing to provide refund upon demand. The Law Office of Charlotte C. Lin is inviting everyone who is not satisfied with his Titan order from KNC to contact them in order to get more details on what possible legal actions can be taken against the company.
Under the terms of the advertised Titan, it should “Yield a minimum of 300 MH/s” and “purchasers shall also receive the Titan during Q3 of 2014” both of which have certainly been up for debate in the mining community at large. The investigation relates to whether the Titan delivered hashing power below advertised, whether the Titans were delivered late, whether such violations breached its Implied Warranty of Fitness and whether KNCMiner made misrepresentations.
– For more information about the possible class action lawsuit against KnCMiner…
- Published in: Crypto News
- Related tags: Charlotte C. Lin, class action lawsuit, KnC, kncclassaction, KnCMiner, kncminer class action lawsuit, KnCMiner Titan, titan class action lawsuit
Today the guys at KnCMiner have released some tips for users that have received or are about to get their Titan Scrypt ASIC miners regarding how to maximize the hashrate and meet the announced 300 MHS expectations that users are having. According to KNC the use of crypto coins with very fast blocktimes on multi-pools are not recommended for maximum hashrate and they do recommend users to go for the following pools that should not have issues with the high hashrate that the Titan miners have:
WeMineLTC (stable above 300MH/s, this pool also merge-mines DOGE).
LiteGuardian (best performance so far but LTC only (no merged DOGE mining)) 300MH/s+
GHash (300MH/s+ on both LTC and Multi-pool)
KNCMiner have also announced that they are working with some other pools in order to improve performance with the Titan miners where currently users are having trouble getting at 300 MHS. These pools include Coinotron, where they are apparently getting around 260-270MH/s so far as well as CleverMining and apparently others that were not cited in the latest news release coming from the company.
The settings KNC recommends to be used on the mentioned above pools:
WeMineLTC: Use the regular stratum and leave the worker settings at default; stratum+tcp://power.wemineltc.com:3333
LiteGuardian: Use the ASIC-ready URL: stratum+tcp://asic1.liteguardian.com:3335
Ghash: Set the difficuly to 8192 at the pool, you can find this under worker settings. You can use the LTC/DOGE or Multipool URLs: stratum+tcp://ltc.ghash.io:3333 or stratum+tcp://multi.ghash.io:3333
This however is not enough to cover for the many more problems that users who have already reported after receiving their Titan miners as the lower than advertised hashrate is just one of the issues that is often experienced. It also does not cover the fact that KnCMiner is already late in shipping all of their Titan Batch 1 miners to users, something that was supposed to happen before the end of Q3 and we are already Q4 with a lot of people still waiting for their mining hardware. With the KNC policy of not offering refunds to customers, their products having a lot of issues, the company delaying shipments and so on it seems that a lot of people are already considering taking legal action against KnCMiner…
- Published in: General Info|Mining Hardware
- Related tags: KnC, KnCMiner, KnCMiner Titan, KnCMiner Titan ASIC, Titan ASIC, Titan Scrypt ASIC
Earlier this month KnCMiner has announced that they are ready to start shipping the Titan Scrypt ASICs and they are apparently already doing so, though a bit late than they initially announced. Users on the Bitcointalk forum are reporting that they are seeing status updates on their pre-orders for the first batch of KNC Titan Scrypt ASIC miners that are apparently being shipped and they are getting tracking numbers. The pre-order price of the 300 MHS KnCMiner Titan Scrypt ASIC miner was $9995 USD without VAT and since their initial announcement they have been upgraded to 300 MHS hashrate (for the first batch) and to 400 MHS for the second batch. With the current price and the expected difficulty increase for Litecoin and other Scrypt-based crypto currencies the ROI time for these machines does not promise to be short. Not to mention that users that have received their units already are not too happy with the results – hardware issues and lower than advertised performance seem to be common, higher power draw than advertised is also reported and each cube still has a single PCI-E power connector for 250W+. Could KnC be following in the footsteps of BFL, decent start and then starting to disappoint customers more and more until the company gets shut down by the government?
– Check the user reports about their pre-orders of KNC Titan apparently being shipped…
- Published in: General Info
- Related tags: KnC, KnC ASIC, KnC Litecoin, KnC LTC, KnC Scrypt ASIC, KnC Titan, KnCMiner, KnCMiner Litecoin ASIC, KnCMiner LTC ASIC, KnCMiner Titan, KnCMiner Titan Scrypt ASIC, Litecoin ASIC, LTC ASIC, Scrypt ASIC, Titan, Titan Scrypt ASIC