Cointerra will retain a bunch of professional liars(lawyers) to argue the meaning of the word "is" and attack the plaintiffs, but I hope cointerra goes down. Lessee.
Cointerra sued, bfl sued, hashfast sued, vmc sued. Guess that about covers all the American manufacturers. Obviously US laws haven't been much of a fraud deterrent to this point.
Cointerra sued, bfl sued, hashfast sued, vmc sued. Guess that about covers all the American manufacturers. Obviously US laws haven't been much of a fraud deterrent to this point.
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.
+1 Cointerra has it together. They are the best of us, granted they had funding where others didn't but they continue to deliver and ship their miners. Out of all the companies cointerra is thus far the best and a big brother/role model for the little guys to look up to. And a class action will never fly in their case because everyone already got their machine.
In our case a class action is interesting, especially from a PR standpoint, so the lawyers next door to us had something to gain from it all. But Cointerra is a legitimate organization of guys that know what they're doing, their not in over their heads and they were upfront and direct with everyone every step of the way, something we should have done from day 1.
Where others failed, cointerra succeeded and success should never be punished.
