KnCMiner is going to stop selling miners to unhappy customers and will instead focus on mining themselves.
.....
When we dont have these customers buy our hardware it becomes a different business model. It becomes much easier, much more open, much more honest, Cole said in a phone interview. Theres still going to be $2 billion, at todays price, mined in the next few years. Thats a lot of cash thats up for grabs, and were going to do our best to take a decent chunk of it.
Their production costs are much lower than the price tag on any of their machines. The pricing for their customers probably includes R&D plus an extra. Their own machines they buy then only at production costs. Therefore they themselves make cash, their customers not. No wonder their customers are unhappy. They got an unequal deal.
More reasons to be unhappy:
1)
KNC finds loopholes in their promises, i.e. Titan Q3 delivery is "we ship the first unit in Q3, the rest goes in Q4..."
2)
KNC has preorders without refunds, plus a pricing for a MH/s value that at the time of delivery is
far too high$10.000 Titan customers earn now less than $ 30 a day - no discount or MH/s upgrade. And
3) if that interviews correct -
Cole doesn't like "these" - who is meant by these? - all?-
customers and regards them (or at least life with them) as dishonest?Probably it makes sense not to offer customer products any more. Not because of dishonest customers, but because honest customers will not buy at a company that has a destroyed reputation like this.
It would be good for KNC to once imagine themselves as a customer being treated like this and see it the other way round. And then think again what they would expect in that situation. KNC did a good job when they started. Since then, it started with the upgrade promises for the slower bitcoin machines which they couldn't keep, then their late Bitcoin, then their late Litecoin miner with 3 months delivering. One goal shot, three goals received. If it'd be a football team: Time to change something.
