Topic: CoinTerra announces its first ASIC - Hash-Rate greater than 500 GH/s - page 81. (Read 231002 times)

The last post really made me wonder:

If I sell you a machine for $1000, and bitcoin goes up to $800, I would MUCH RATHER refund your order for $1000 than let you mine precious bitcoins with it.  Could this be what these companies are going to do?  Just refund our orders for fiat?  It would make them 10x as much profit..

For Hashfast they absolutely can't afford to miss that dec 31st deadline cos they've got a lot of batch 1 customers holding a sales contract that gives them a right to a full refund if they miss the dec 31st date so you can think that this date is set in stone and Hashfast will move mountains to ensure they ship before then.  And as for Cointerra, they were originally running two months later than hashfast but events have conspired (hf being very late and cointerra being late but not as late)... so they've done some catching up and are now perhaps are weeks rather than months behind.  I still think they will show working systems in december like they promised and probably sneak in the first shipments by the end of december (like they promised) but most of their customers (including me) are in the january batch and they've got a lot more time to deliver that batch on schedule than they have for the Dec batch.  and all future orders for both hashfast and cointerra are now feb and march timeframe because their first few batches are completely sold out... so business for both of them mustve been pretty good (especially with bitcoin levels rising so much... everyone wants to be mining now.. and the ROI suddenly makes a lot more sense than it once did)

Black Arrow would certainly have announced their tape-out as soon as they hit that milestone.  Its simply not sensible in this marketplace there is any benefit to taping out secretly and not telling anyone... especially because they're trying to take pre-orders as we speak, and they'd get a hell of a lot more pre-orders if people had confidence the chip was coming.. so clearly, by definition, they haven't taped out yet, or they would've said.  And look at Cointerra for an example of the pre-tape out and post-tape out frenzy... ok, so bitcoin going up helped a lot... but their sales & support staff are snowed under with the volume of inquiries.. and that may have had a lot to do with announcing tape-out as it significantly reduces the risk profile of the product and its shipping on time.

For Black Arrow to pip Hashfast, Cointerra and BitMine to the post... there'd have to be an awful lot of things go wrong for each and every one of those three, and it has to go swimmingly well for Black Arrow (and they have to raise enough pre-orders - which gets harder all the time - and sell loads of their bitfury clone box....  so that they can hit the $5m in target that allows them to pay the fab and the other contractors to get their 28nm asic into production).   Now, this COULD happen without us knowing.. but i'd say its pretty unlikely.  These guys, just like almost everyone else.. will announce their tape-out with gusto because it helps them make pre-order sales!   Also, we don't know when the next KnCMiner machine is coming out.. but it won't be far behind Black Arrow.. so they will certainly be entering at a time when its hard to compete except on price.

They haven't announced it yet, there is a difference. Not everyone feels the need to announce their every breath and toilet break to serve as some kind of "evidence" that their project is on track. Cointerra making the announcement means little, they've had no opportunity so far to demonstrate that anything they've promised is true.

I have this sneaking suspicion that both Cointerra and Hashfast are going to miss their December delivery targets, just a hunch. Too much talk, too much glossy showroom stuff. Will it turn in to ASIC gen I part 2?

Will BlackArrow pip them at the post in mid-February, while the guys who paid for expensive front-page advertisements on shiny paper flounder around with their angry over-bought customers shrieking and wailing? Maybe, but the delivery window is narrowing, and they're all 3 looking like converging on the same timeframe. Tortoise (Avalon) won the last race, the hare (BFL) is still attempting to deliver it's overambitious promises.

How long is your backlog?  I was told a supervisor would contact me TWO WEEKS ago and I am still waiting.  You found the time and staff to launch your hosting services in the meantime.  Maybe you should stop launching new things until you can adequately service your existing customers.  You owe me money.  I doubt you would be so patient if our roles were reversed. 

Hello,
We are experiencing an exceptionally high volume of both phone and email support requests. We are actively training additional support staff, but currently we do have a backlog of emails and voice mails. Our support is staffed for phone support during business hours (Central time) but due to high call volume you may still reach our voice mail at times.

The CoinTerra Team

I have written cointerra 4 times over the past 2 weeks and no one has responded, not once.  I just posted in their forum about it and that post is now gone.  Cointerra had time to delete it but not respond to it or to my past emails. I am considering legal action if anyone else is being screwed by them, as I am.  I WISH there was only a 72 hour delay...

Wait what?  I'm a noob, I didn't even know there was a device called a Minion.  It was merely a Cointerracidence 

But good news!  The email reply came in today.  So for emails expect a 72 hour response delay.

Since Blackarrow haven't taped out the Minion asic yet, that seems a little unlikely.  they've got $5m+ to raise from pre-sales before they can go into production.  And they'd need to pay a lot more in expedite fees to get it in feb versus march.

-- Jez

The MINION might beat Cointerra to market.

Yea, don't know why they don't hire some extra minions

My bizz partner rang them again yesterday and someone named John gave a call back.  We got the reassurance on mid feb release.  John said they are swamped with work and apologized for the late response.  For anyone wanting to get in touch by phone,  expect a 48-72 hour response time for call backs.

no price drop for new March batch!  That makes me feel good about the value of my January order for 6k

they have ignored several emails from me for two weeks now.  prior to my purchase they answered within an hour on several occasions.

Anyone had any luck recently with contacting Cointerra by email/forum/PM/telephone?  I've made several attempts and had no luck.  It also appears they are moderating their forum posts on http://forum.cointerra.com/ which is totally fine by me but at least dedicate a person to moderate them.  It's not like they are dealing with thousands of posts.  Being legit in my book means hiring some extra staff to respond to legitimate customer requests during normal working hours.  

Yes, Cointerra is legit, as are several other companies (including hashfast, kncminer, bitmine).

if you tell us more about why you are asking we can be more helpful...

-- Jez

I'd say better do your research dude, instead of asking some strangers in the internet, otherwise you will regret it...
and keep in mind what looks like the dream today might become your tomorrow's nightmare

mining is in first place for enthusiasts, the greedy buy and hold coins as it offers more profit

What do people think, is CoinTerra legit?
We are looking to buy an asic soon - need some advice!

wow... either they're selling very well or their batch size is small.  I'm betting the former... with the price of bitcoin going through the roof, it makes cointerra's pricing look like a bargain ($3/GH)

February batch is sold out !

What news were you hoping for?

they taped out 10 days or so ago... we wont expect much news now til they get chips back in december... unless they want to send us photos of the chips being made in the fab at the halfway point or something.   or maybe photos of some of the parts arriving before manufacture (i imagine that too will be in december).

i imagine theyre snowed in with orders at this point... every time the price of btc goes up, i think more people order mining equipment.