Sadly after hearing about the other similar cases I really expected this was the direction this would take.  Their questionable business practices and warranty practices are pretty slimy, but hard to get recourse for this kind of thing.  Works out great for Knc, they got the seed money they needed to build a business, and exploit the market to get what they wanted...  Ethics doesn't seem like a strong suite for them.

All you can do is hope that there are enough people that remember and are able to tell people to stay away when the next BTC pump happens and Knc decides to drop another miner on the market.  I think we all expect that if the next gold rush of the pump happens that "mining hardware" companies will come out of the woodwork, and at least with this company we know up front if you buy something from them your pretty much on your own no matter what happens.  

I feel bad for everyone who is in the class action suite.  This is really messed up.

So you can circumvent consumer protection laws by convincing the court that all your customers are by definition businesses for no other reason than that they are your customers. I'd say they got their money's worth out of that lawyer.

Does that mean there are no business protection laws? You can rip off other businesses as much as you want without fear of consequences? Or would that have to be a different lawsuit which they'd clearly lose but now nobody can afford to sue them under business protection laws because all the money's already spent on the logical course of action for consumers seeking protection under the law?

To me it seems the key point is that the plaintiffs directly 'make income' from the miners vs crafters or hobbyists using a machine or tool to make something and then keep it or give away at no cost to friends,family, etc. That makes the buyers a business vs a consumer. The fact that a miner generally runs 24x7x365 doing what it does (generating income) clinches it.

Now if the suit(s) had been based on simple failure to fulfill the terms of a sales contract or other Breach of Contract I think the Courts wold have looked at it differently.

Didn't expected this! FU Sam Cole!

The papers say yes but that the risk is too high of just incurring more costs and getting no where. They're considering appealing the awarding of costs though.

Assumed or perhaps misunderstood theyd paid off the entire swedish judiciary over a year ago.

wasnt it the case that the Class action ppl found it almost impossible to find a lawyer?

either way, im not surprised.

greedy cunts usually get their own way.

i wouldnt be surprised to see shitcunt sam cole knighted or the swedish equivalent thereof.



oh, monsieur - with your blatant fraud earned millions, you are really spoiling us!

some salt

http://swedishstartupspace.com/2016/05/27/knc-miner-declares-bankruptcy-chinese-competition-too-tough/

Well, we've all been waiting for KNC to give up the ghost. Wasn't there talk about their hosting losing money over a year ago, and what have they really accomplished since then?

BW has a new chip out now as well.

21 Inc doesnt count. You cant mine for profit with them.

The despicable thing here is Bitcoiners who gamble on ASICs, hoping (or 100% Certain) they will profit in terms of Stateless Internet Money, but then run mewling like starving kittens back under the skirt of the Nanny State when they lose their wagers.

It's pure hypocrisy to praise ASIC manufacturers when they have favorable business conditions, then stab in the back and call them "human garbage" when the price/difficulty/competition stop cooperating.

Your standard of "fair weather friendship" is disgusting.  Most, if not all, ASIC manufactures sell to the public not because dealing with degenerate/litigious gamblers is fun, but because they want to help decentralize hashing power.

Every time you armchair anarchists run sobbing to your lawyers' offices because the mean old ASIC company tricked you, it's another reason for the next company to eschew retail for exclusively industrial/self mining.