Topic: CoinTerra announces its first ASIC - Hash-Rate greater than 500 GH/s - page 8. (Read 231002 times)

Currently it does, sure, but that won't last too far into the future. My point in this case is that it's a much more sensible investment (for most people) to purchase Bitcoins outright instead of either mining themselves or going through hosted plans.

Let's say the hosted hardware CoinTerra is offering somehow manages to get 1w per 1 GH/s. For a 12 month host, that 1w / 1GH/s will cost approximately $2.19 (@ $0.25 per kWh to cover industrial energy, space, cooling, and security).

200GH/s is priced at $999, and costs CoinTerra $438 to host. Profit is ~$2.80 per GH/s.
1,000,000 GH/s is priced at $2.75M, and costs CoinTerra $2.19M to host. Profit is $0.56 per GH/s.

If you go with the max plan, 1PH/s for 24 months:
1,000,000 GH/s is priced at $3.5M, and costs CoinTerra $4.38M to host. Obviously they can't have a loss, so my guess is either A) they've already factored in a baseline profit from developing the hardware itself (e.g. it costs less than $1.75 per GH/s to develop the hardware), B) I've overestimated the cost per kWh, C) something I've missed, or D) a mix of A, B, and/or C.

In any case, they've got some high margins on plans most people would actually purchase. Things only get reasonable when you start spending a few $100k-$1M.

Difficuty climbs up fast like hell

Ah, yes, I've received that as well. Hosted mining between $4.99 and $3.50 per GH/s, which I suppose isn't so bad.

Oh wait... http://goo.gl/p7emyh

Oh what did I have right now in my email box

http://cointerra.com/?wysija-page=1&controller=email&action=view&email_id=30&wysijap=subscriptions

Hope that that will bring the money to refund us.

That sounds very scary. Some others reported here that they did get their refund.

I'm in the same boat, waiting since Feb and still no reply.

Getting worried they may disappear over night before they refund their customers.

I am so boared with the whole Cointerra- Terramine Hosting ( it is the same CEO ).

I am waiting for refund now over 5 months even if I made a storno and deleted my order before the money arrived at their banc account.

They are holding me online since 4 months. No refund moral.

I paid with Fiat and I although gave them the possibiltie to pay in BTC.

Heard nothing anymore since two weeks.

Exhausting and I think I take an american lawyer for this issue.

Anybody such bad experiences with them too?

greetings

That is less than 2 miles from my house.

file a complaint with the better business bureau

BBB serving Central, Coastal, Southwest Texas & Permian Basin
1005 La Posada Drive
Austin, TX 78752
Phone: 512 445 2911
Fax: 512 445 2096
Email: [email protected]

file a complaint with the better business bureau

BBB serving Central, Coastal, Southwest Texas & Permian Basin
1005 La Posada Drive
Austin, TX 78752
Phone: 512 445 2911
Fax: 512 445 2096
Email: [email protected]

I am so boared with the whole Cointerra- Terramine Hosting ( it is the same CEO ).

I am waiting for refund now over 5 months even if I made a storno and deleted my order before the money arrived at their banc account.

They are holding me online since 4 months. No refund moral.

I paid with Fiat and I although gave them the possibiltie to pay in BTC.

Heard nothing anymore since two weeks.

Exhausting and I think I take an american lawyer for this issue.

Anybody such bad experiences with them too?

greetings

w

Even with this assumption - $0 electricity/maintenance, 2TH, 24 months, and $12000 one time payment. The difficulty increase has to be at an average of 5% only just to breakeven. Anything higher you will lose money, if you believe going forward we will have average of 5% increase per, i have another bridge in my backyard for you...

Hey newguy

the 'gig' may not be quite so 'up' as there was something missing from your comparison.

cex.io doesn't just charge to buy the gh's.. they ALSO charge per month to host them for you (you have to pay extra for hosting, power, repairs, maintenance etc) and you neglected to mention this 'monthly' charge in your comparison.

cex.io's price doesn't include hosting (which is a major part of the cost if you're going to operate long-term and not just trade it).    cointerra's price was an all inclusive price including hosting for either 12 or 24 months whereas cex.io charges extra each month for the hosting (see  https://cex.io/maintenance  )

re-running your example again with 24 months to show the true (long-term) costs of bitcoin mining...

cex.io, 2 TH/s, buy price is 0.007 btc ($3.08 at today's btc price of $440) plus 24 months of hosting (currently $0.26/gh) = $9.32/gh (total paid for 24 month contract is $18,640)
cointerra 2 TH/s, buy price for 24 months - all inclusive of hosting - is $11,999 (a big saving over cex.io).  even if it was only for 12 months, cointerra is still cheaper than cex.io

but why stop at 2 TH/s...   we should try the same math for 100 TH/s (cointerra gives volume discounts, whereas cex.io being a 'true market' of buyers and sellers would mean the price goes up the more you buy and you'd be severely penalised for buying a larger amount)

cex.io, $308K to buy the 100 TH (in reality it'd cost much more to buy it this way), plus $26k per month in hosting for 24 months ($624k) = total of $932K (just shy of $1m!)
whereas cointerra's 100 TH hosted for 24 months is less than half the price at $450k (well under $0.5m!)

You can similarly compare the hosted prices of other cloud hashing companies like nimbusmining.com (butterflylabs) who charges $20/gh... or cloudhashing ($8-9/gh) compared to cex.io's $9.32 and cointerra's $6/gh (for 2 TH 24 mnth) or $4.5/gh (for 100 TH 24 mnth)