Topic: CoinTerra announces its first ASIC - Hash-Rate greater than 500 GH/s - page 13. (Read 231002 times)

totally agree!

I looked at that too.  I've got an utterly useless 'coupon' for the fact that they sold me a 2 Th/s miner and delivered a 1.6 Th/s miner, which I could apply also.  To get my 'compensation' I have to buy another one of their products?  Give me a break. 

here's an idea in terms of compensation for selling deficient miners to your customers, a couple actually: upgrade the thing, or give me a mining card, or give me 20% of my money back. 

They have all of those options available and have decided to instead to offer themselves more profit as compensation to the customer for getting short-changed by ~20% on the hashpower those people paid for.

I wonder if they had a good laugh in the boardroom over the idea of getting suckers to give them more money as 'compensation' for delivering a deficient product in the first place.  What a joke.

Glad I perused this thread before even contemplating buying "from stock".  Unreliable product and 4 weeks for refunds = FAIL!

$3/GH is a more competitive price but still a loser now...

yah "Now powering > 10% of the Bitcoin network!!"
(with your money)

oh and sorry that you paid for 2 Th/s and that we gave you 1.6 and kept your money anyhow

rofl!

Relax. Dude, they told me they will give me a March batch one for compensation, it's April 15 now and I haven't receive it.
By the way, anyone received their compensation miner ? 

Because they need the time to mine more coins and convert to fiat.

Did you happen to ask Christina why it takes them up to 4 weeks to process a simple refund request? Do they keep records on used kleenex and do maths with an abacus? All of the american scam companies(which is all of the american manufacturers) employ this tactic as well. Funds go in real quick, but take weeks or months to come out...if ever.

I just remembered about this thread: https://bitcointalksearch.org/topic/coolit-systems-selected-by-cointerra-to-partner-for-liquid-cooling-solution-303244 and i want to ask. Is CoinTerra providing cooling solutions from CoolIT or it was just a marketing scheme like HashFail with CIARA?

 
I think it should be explored.  They've sold one thing and delivered another.

Send in a request to cancel your order.  I did (except to actually cancel) and boom, next e-mail was that my order was preparing to ship.

So you're saying they did well? ...or they did well compared to the pure scam american companies? If you put charlie manson in a room with hitler and stalin, suddenly manson's crimes don't seem so serious anymore. Feel me?

They said April orders will ship in April.  12 days in and not even halfway through the month I think you could be a little more patient.  THey seemed pretty confident they'd be on time and you're jumping the gun claiming they havn't shipped yet. Plenty of April left to go and there's a good chance you will get it in days not weeks.

its not surprising.  class actions are for companies that do wrong (especially, intentionally do wrong).  its hard to argue cointerra did anything other than 'best efforts'... and tried to make the best of an imperfect situation.

1.  they actually shipped their products (and by all accounts, i believe at 1,000+/month, there are now thousands of customers with them.
2.  they weren't excessively late (unlike most bitcoin mining companies).  they made best efforts, and pretty much closed their back orders by march.  april batch was shipped 'in april' and they're pretty much caught up now.
3.  when they realised their system fell short on performance by 20%, they offered every customer their choice of either a discount on a future order to accept the reality of the situation, or, an insta-refund.   yet again, few if any bitcoin mining companies allow refunds, and those that do make it painfully difficult to get them or delay them for months and months.

if the company is offering you discount compensation on a future order, or a refund if you're not happy, you pretty much have all bases covered.   not much grounds for a class action...

and now i believe they're shipping from stock so you can get one in 48 hours (for small premium over pre-order price, and yes, they're allowing may & june pre-orders to upgrade to immed deliver if they want)

I'm surprised there hasn't been a class action against Cointerra.

There are many clones out there that all more or less do 1Thash for 1000W at varying pricepoints but the best deals run around $3000 for the box itself and then varying shipping costs.  They are also overclockable though you would have to upgrade the power supplies or add a 2nd power supply for this to be stable long term-I managed to squeeze out 1.2Thash out of my box and I'm gonna add a 2nd PSU so it can be run like this longer term.  I paid $3400 for it to be overnighted to the US at the end of March, though customs clearance did take almost a week and it seems like the prices are cheaper now.  The quality of the casing isn't nearly nice as the Cointerra units and the software is also less polished, but the lower power use and stable hashrate is a big plus.

Then there's also bitmain's Antminer S2 units who are comparable in terms of power draw.

The problem is that my $6280 (with shipping) boxes would show up in mid-late April and hash 1.6Thash, whereas I bought a box from a random Chinese manufacturer with an unknown reputation on these forums and they managed to deliver a box that actually mines at the promised hashrate for $3400.  No, the hardware is not as polished as Cointerra and the interface was a headache to get up and running because of the weird static IP they chose to assign it but if it weren't for customs taking 5 days to clear the box I would have had the box WITHIN ONE WEEK of payment because they overnighted it from Hong Kong.  So for $6800 or so I can have an actual 2TH of computing power within the same power envelope as 1.6Thash from Cointerra and not needing to wait until May for a revised board.  Even worse is that it's not even $6800 now because the Chinese manufacturers are so aggressive about dropping their prices, now you can basically buy 2Thash delivered in a week from them for the same price that 1.6Thash delivered sometime later this month would be from Cointerra.  The hardware isn't as nicely designed but the boards actually hash at the promised rate, and unfortunately with difficulty skyrocketing and the price of BTC tanking it's become very hard to justify keeping Cointerra orders. 

Now admitted if BTC hadn't just tanked it's price and if the IRS hadn't announced rather awful taxation policies for miners then Cointerra would probably still be an attractive and profitable choice, but as it is now the missing 400Ghash of hashing power is basically the entire profit margin for people hosted at colo centers.  My business partner who controls half of our mining company along with me has been pushing me to get a refund and unfortunately I cannot make a good case for why we should keep our Cointerra orders because it honestly makes no financial sense now. 

http://cointerra.com/engineering-update-terraminer-iv-hashing-2-ths/

Anyone else notice one of the cores at 102°C? I hope they have glycol in that coolant...

All the american manufacturers seem to make crappy products that are delivered late and fail to meet specs. No idea why they can't seem to get it right when companies in the eurozone and asia build nice stuff.

Thanks for the update/review