Topic: CoinTerra announces its first ASIC - Hash-Rate greater than 500 GH/s - page 103. (Read 231002 times)

They said they would release info within 48 hours, then missed that deadline.

They said their remaining, more affordable (but higher $ per GH) units would be announced by the end of August and it is now over a week late.

The Intel chip Photoshop is SHOCKING

They are very quiet and post no information about progress, etc.  "No news is good news" has been proven untrue by every other ASIC manufacturer.  

Their video was surprisingly devoid of content.

They are way overpriced (or under powered) for the $ per GH they want.

They did not accept bitcoin for orders for about a week after opening their store.

Their penalty for shipping late is total bullshit.  It doesn't kick in until 30 days AFTER their "deadline", effectively moving their deadline 30 days later.  They have not even stated that this deadline is December, if it is end of Jan, plus 30 days (all of feb), their penalty could take effect as late as March.  Meaning, you receive your rig on Feb 28th and there is no penalty. The penalty should kick in the day after your "deadline" or it is not a deadline.

Their penalty for shipping late is total bullshit, part 2.  Making me buy another unit from you to claim this "penalty" is not a protection plan.  Not to mention that 20% of hash power, by the time received will be so minuscule it won't make up for anything anyway.

If you need a refund, they will only refund in USD.  Meaning if bitcoin goes up, they can close up shop, never ship, refund everyone and keep all of the profit earned by your "loan" of 15k in BTC.  Refunds, if there are any, should be in BTC if you pay in BTC.

In my opinion price should be in BTC not USD so profitability does not depend on WHEN you buy one.  Hint: Cointerra, people with BTC will be hesitant to pull the trigger if they think BTC will be higher tomorrow, and the next day, thus making your product cheaper to them the longer they wait... thus needing less BTC to see a return.  By December BTC may be $1000, so if your product mines 16 BTC, is that a success in your eyes?  It is not to the person who pays 100+ BTC now.

Hey Cointerra, hire me or someone else from the forums who knows what's up to straighten your shit out a little.  I hope you address some of the issues I mentioned.  I'm excited about your technology, it's "everything else" that screams either "noob to bitcoin" or "ripoff" that scares me about investing with you.  

+1

Irony - easy to use, not so easy to detect.

Well, we'll see if that works out. Easy to say, not so easy to do.

lol

TAKE MY MONEY NOW!

No way dood.  CoinTerra is the first ASIC manufacturer achieving sufficient die density to warrant socketed solutions.  The Golden Promise^TM MLSI^TM (Mega Large Scale Integration) package is optimized for off-the-shelf CPU cooling solutions and is upward compatible with the future generations of fine CoinTerra SHA256-hashing solutions.

CoinTerra:  Future perfect solutions for a brighter tomorrow^TM
*"Solution" is the laziest word in the English language.

At 5k I will definitely BUY 2 for sure.

That's pretty lazy.  HashFast was able to do a render of what they expected their chip (package) to look like.

They actually probably don't know what package their chip is even going to use at this point, but just photoshoping an Intel chip is pretty amateur hour.

It's been mentioned but I think a visual would better illustrate the point.

http://www.tweaktown.com/image.php?image=http://imagescdn.tweaktown.com/content/4/6/4673_03_intel_core_i7_3770k_lga_1155_ivy_bridge_cpu_review_full.png

http://cointerra.com/wp-content/uploads/2013/08/chip-large.jpg

Isn't this image copyrighted? Why would cointerra choose to use the image of an ivy bridge intel processor as their own? This reflects poorly on the company. Many, such as myself, take this as an indicator to avoid them.

^ Don't worry: as competition heats up, the prices will become more competitive. Like you said, buy and hold BTC until then

I agree. At 10k I'd buy one, but at 13k they are an overpriced gamble.

I tried talking some sense into them, but they seem content charging whatever price the market can bear. I don't blame them, but anyone that pays what they're asking for is an idiot.

The CEO said cost of silicone, R&D, etc. as justification of their price. However, in a recent news article they said they sold 150 units right off the bat. This would of covered the 1.5 million they needed to raise from investors for R&D. Obviously they could eat into those profit margins quite a bit, but were simply unwilling to do so because there are so many idiots that will pay what they're asking... I imagine its the same crowd buying ASICMINER equipment.

Oh well. They can screw someone else, I'd rather buy and hold bitcoins than gamble on whether they will deliver or not. There is not enough upside to make the gamble.

I feel Cointerra's price is still too high for December.  I assume when they say December, it means LATE December if no delays happen.

If you have yet to purchase an ASIC, I feel the best thing to do is wait.  Wait for October 1st to roll around, check out the reviews for KNC, then decide which company to order from.  If KNC delivers in Sept/Oct, they will become the first ASIC manufacture to have a continuous flow of products for sale with set delivery dates. (This should cause other companies to drop prices)

If Cointerra had a price of $10k, that would be a different story-- wish they did, but they don't. 

I'll be watching for that price decrease!

I spotted that too, it was pretty blatant. I think the image has been removed their promotional material, but it's only more evidence of which kind of customer Cointerra are pitching this to.

Ironically, I think the plan is to have the chips designed to use that large a die area, which, as I analysed in a previous post in this thread, is asking for trouble in with keeping fabrication costs low. This company has a strange strategy overall.

Yep.  This is the all-pro bitcoin future.
The bankers are dead.  Long live the bankers!
I, for one, welcome our new ASIC overlords.
Thanks to everyone who made it possible -- ur pre-order monyz paid for this.

Well,without an "entry level" priced device,I won't be able to even think about thier products 

$13,000 is not "entry level",$1,000-$2,000 is........................

Even KnC dropped thier lowest price model 

Only those well funded types will be able to mine soon 

They have a photoshopped picture of an intel chip so far...

I mostly find it strange they publish so much marketing material, but nothing of substance. At the same time, they say that the whole team is full of technical experts. I find it strange how the flow of marketing material doesn't seem to match the team they have. Not to mention their recent price drop, which tells us they are certainly placing the price as high as the market can handle.

Maybe not grammar nazi, but spelling at least.

On a more serious note, I'll agree that CoinTerra has more impressive marketing material than most of their peers, but is there any 'meat' anyone can link me to? Where are they at in terms of schedule? Are they still on track? Did they pass tape-out yet? When are their first wafers expected? What does their PCB look like? Are they using air or water cooling? Will they rely on a host controller (such as USB-connected PC) or will they be using their own integrated controller such as an rPi?

I'm late to this party, but the details coming out of the CoinTerra camp seem to be quite sparse. Details which should have been long ironed out and committed to. I'd like to know how far along they are and if their December target is still viable. Competitors like BitFury and BFL have been posting board layouts, actual PCB pictures, enclosure pics, etc. all along. I'd expect CoinTerra to have these available as well, but have they disclosed any of this yet?

Does anyone know anything beyond the little that can be gleemed from their website? Someone asked me if they are legit ... I wasn't sure how to answer that.

Well unless the first poster was talking about how much capital cointerra has to work with, I think they used the wrong word. Talking about values is "principle". I didn't want to go all grammer nazi though earlier...

Thanks for bringing this to our attention.

This was an issue with the UPS API that has now been solved. The problem occurred when people placed orders for more than one TerraMiner.

We've gone through our order list to make sure nobody paid too much. We are not flawless, so if you think you may have been overcharged on your order, send us an email and we'll look into it.

Accept my apologies, it appears that if you add an item to your shopping cart and go to checkout, the Bitpay option appears. Nowhere else before these steps does it occur, however. Still makes me feel they're a bit disconnected from the ecosystem, at least within their glossy marketing. Placing their (only) payment processing partner at least somewhere else on the site for the interested buyers to see would seem like part of the information that a potential customer would like.