Topic: Cointerra Class-Action Lawsuit (Read 6369 times)

You are lucky that you got anything at all. Look at the Blackarrow situation. Over 7 months late and X3 miners finally started shipping in late August to only have the company ask people to stop mining due to fire issues. You think Cointerra is bad? I bet many in the Blackarrow boat wish they were in your situation.

Same here,  I purchased a Terraminer IV in November 2013 for $5999 + UK Import taxes and shipping (Early January Batch)

1.6TH (now 1.2Th as 1 asic is dead)
2050 Watts (nearly double the power costs although that has reduced a little as 1 a sic is dead)

I would like some for of compensation for this, but I cannot even get a response from Cointerra.

Aside from the late delivery 2 months late (It was delivered mid March so I missed out on around 16BTC) This has been the worst experience with a manufacturer that I have ever had.

Please tell me how to join in the class action suit.

G

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There are hundreds of posts on the forum if you are inclined to find out more about what has happened. Just remember that there are often two side to every story.

ok, i find this argument a little surreal.

let me play devil's advocate here.. and put forward an opposing viewpoint just for a moment.  I'm going to go for the extreme opposing viewpoint and show you what it can look like from another point of view.  indulge me please...   i will also use the devil theme a lot in these thoughts...

there's one striking difference in that list.  cointerra did.. actually ship!  and they shipped within a few weeks (not months) of the promised date.  and caught up their backlog very quickly (in weeks) and now ship from stock and shipped the may and june batches early (who even does that!?).

you can't say that bfl shipped anything ever, on time (monarch was promised in november, and we're now may and its still not shipping - even 6 months later.. and many people only ordered the monarch as a conversion because their original order for the 65nm single or mini rigs was taking more than 6 (and in some cases 12 months!!) and us suckers thought we could catch up on hash rate by letting bfl play the shell game one more time.  I'm one of the suckers - i ordered my bfl single in feb and received it in november after its value had diminished to almost zero!) - and bfl fight to the death to avoid giving any refunds - really pulling out all the stops to prevent anyone getting a refund...

hashfast promised october.. and we're now may and they're still not shipping and they're now talking june onwards (and not refunding either), vmc, er lost track of when they promised.. but they're still not shipping.   so whats your beef?  that they didn't accurately predict the performance and power consumption?  thats it?   and yet, they may be one of only very few bitcoin mining hardware companies to actually ship nearly on time?  and nearly to spec?

heck, even the golden boys kncminer have fallen out of favour. go read their forums.  they could do no wrong, with the first couple of jupiter batches... but when they started building out their huge data center instead of allowing customers to buy any more, under the pre tense of 'network protection' they started offending customers.. and now that they've delayed the neptune and offered everyone some poor second fiddle options that turned out to be less than acceptable (frankenjups arriving in pieces) and no longer allowing refunds.

And what about avalon?  oh yea, they also delayed and failed to ship most of batch 2 and all of batch 3.  and made people wait months while they hashed with it themselves.

you missed out a few.. how about bitmine?  promised october, and still not shipping to this day.  and no refunds.   blackarrowsoftware?  and a whole slew of others I've forgotten to mention...  

and you claim cointerra overcharged?  you think so?  they were and still are one of the cheapest thats actually shipping.  their price per gigahash back when they took the orders was way less than anyone else's at the time - way less than what hashfast charged ($14/gh), and kncminer charged ($17.5/gh).. and what did cointerra charge most of the customers?   most of them paid a little over $3/gh, except the first batch, that paid a little more (and were compensated by getting two machines instead of one, AND front of line delivery).   at the time of sales, and yes, even at the time of delivery.. cointerra was one of the lowest cost miners - per gigahash - on the market so you can't possibly argue they overcharged when compared with everyone else they were much much less expensive.

So go take a look at the bitcoin mining hardware companies out there - and make a list - and lets pretend the awful ones are in hell and the perfect ones are in heaven, and you tell me where cointerra is on that scale.  they sure aren't the devil.  maybe they're not a saint either, but they're nowhere near the bottom of the pile compared to most of the company they keep.   whose in heaven?  spondoolies maybe (but they're very recent and weren't shipping until recently).  what about asicminer?  sure, they're good.. but they've been uncompetitive for awhile and their prices per gigahash and power consumption made cointerra's look like the biggest bargain ever.

then there's the refund policy.  sure, they didn't encourage refunds.. but everyone who took delivery of their underperforming miner was offered a refund, or had the chance to get a refund instead of a delivery of the miner.  AND everyone who took delivery was offered compensation in the form of discount on a future order.   So, you really think you can sue them even though your ultimate recourse was to ask for a refund and you wouldve got one (as several customers did)- cointerra is one of the only companies i know of who allowed refunds (not encouraged them, mind, but allowed them)...   then there's the sales contract and terms and conditions?  if you ordered something from cointerra, then you agreed to their t's & c's when you placed the order.  it specified that if you have a beef with them, you work it out in arbitration.  that doesn't allow you to do a class action.  you have no grounds to do it.  or are you going to lie in court and say you ordered it from their online store without agreeing to their terms and conditions of sale?

ok, there's my devils advocate thoughts.  i hope i could show that there's two sides to every story.

Cointerra offered to ship the second unit for $1400.  I accepted.  They only shipped one unit and did not get back to me regarding the second unit.  Up until now, nobody emailed me back.

+1 yep they did. And it was the smartest thing they ever did.

since I'm on ignore, you won't see this.

cointerra knew their 2 TH miner was only 1.6 TH before they shipped it and they updated all their customers to the ongoing situation, and they offered their customers the chance to refund, or take delivery with some compensation from a future order.  those were the two choices, and if a customer didn't want a 1.6 th miner (itself, still timely delivered and still the fastest miner in town), then they could've opted for the refund.  there's no beef.   it was take it, as it was, or, have a refund.   

Cointerra sucks crap. Pointing at bigger frauds and saying "look at what those guys stole!" is a non-starter as an argument. Cointerra knew their 2Th miners didn't do 2Th when they shipped them. Proving as much in a room full of people overpaid to spew bs for a living is the challenge.

aerobatic is on ignore. His posts are complete trash imo and always pro cointerra. No reason to waste time on mindless fanbois & paid propagandists.