Cointerra Mining ASIC coming soon - page 19.

minternj

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Quote from: NiteShdw on August 04, 2013, 01:02:47 AM

Quote from: minternj on August 04, 2013, 12:58:50 AM

Yet another preorder asic miner.

Given the costs involved in manufacturing these devices, it seems pretty reasonable that there would be a pre-order system. The other alternative would be to ask for investors, which would pretty much still be like a pre-order in that you would invest money into the company without a guaranteed return. It's risk either way you do it.

Except the first post said they were well funded. Guess their investors need to pass on risk to greater fools ASAP.

Bitcoinorama

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Quote from: ecliptic on August 04, 2013, 12:40:07 AM

Quote from: Bitcoinorama on August 03, 2013, 10:55:04 PM

Also I doubt their own wages come cheap.

Who needs wages when you're making machines that print money? Their work is quite literally its own reward. I'd rather be paid in top end 22nm chips than USD for a project like this.

Will have to see, I tend to agree esp. if I would get the luxury of purchasing devices at cost...

NiteShdw

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Quote from: minternj on August 04, 2013, 12:58:50 AM

Yet another preorder asic miner.

Given the costs involved in manufacturing these devices, it seems pretty reasonable that there would be a pre-order system. The other alternative would be to ask for investors, which would pretty much still be like a pre-order in that you would invest money into the company without a guaranteed return. It's risk either way you do it.

minternj

sr. member

Activity: 434

Merit: 250

Yet another preorder asic miner.

Loredo

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Quote from: Bitcoinorama on August 04, 2013, 12:37:48 AM

They claim in this thread to be well funded, that gives the impression they won't need pre-orders, yet on their site they mention seed capital of $1.2 million

Do you happen to know: how much did ASICminer raise, adjusting the BTC exchange rate back to what it was at the time of their offerings?

If you don't piss it away, and have a sizable endowment of human capital, a million dollars can be a lot of money.

ecliptic

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Activity: 322

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Quote from: Bitcoinorama on August 03, 2013, 10:55:04 PM

Also I doubt their own wages come cheap.

Who needs wages when you're making machines that print money? Their work is quite literally its own reward. I'd rather be paid in top end 22nm chips than USD for a project like this.

solex

legendary

Activity: 1078

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100 satoshis -> ISO code

Wow. What an impressive team! It is going to be interesting seeing what happens when Cointerra is shipping...

Bitcoinorama

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Quote from: Loredo on August 03, 2013, 11:49:56 PM

Quote from: Bitcoinorama on August 03, 2013, 10:55:04 PM

we can almost certainly assume another pre-order which will undoubtedly elicit a familiar response, but again is par for the course as they have no significant funding to manufacture otherwise.

Maybe, and i hope you're wrong on that. Here's the risk in pre-orders at this point, and why I'm more puzzled with each new one.

Nobody is going to buy into a pre-order scheme without some way (escrow, PayPal, credit card) to refund the order any more. And all it's going to take is one announcement by someone who has the chip on the board and the board in the box with the mailing label stuck on the day the credit card authorizes. Every one of the pre-orders would be a ghost town at that point.

You can say "yeah, but nobody has that kind of money." Would you be willing to bet a couple million dollars on that? Because that's what these pre-orders are doing.

Obv. I don't know, it a guess based on what details we have available. They claim in this thread to be well funded, that gives the impression they won't need pre-orders, yet on their site they mention seed capital of $1.2 million which barely covers the cumulative annual wages their current team is accustomed to. It could cover the path to taping out. It's no where near enough to cover 28nm dev. through fab, that's 100% certain. Let's just wait and see. Interesting times, if even solely as an observer...

Loredo

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Quote from: cointerra on August 04, 2013, 12:19:11 AM

Thanks for rooting for Cointerra! We will make all Texans proud

Most real Texans aren't proud of anything that goes on in Austin, with the possible exception of football. And then, only some years. Cheesy

In any case, I wish you the best of luck and greatest of fortune!

cointerra

member

Activity: 113

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Quote from: Loredo on August 04, 2013, 12:02:38 AM

Quote from: cointerra on August 03, 2013, 11:48:02 PM

We are in Austin.

Even though I'm not there all the time (like when the heat index is 100+), I have a farm in Caldwell County.
That makes you my home team. Go, cointerra!

Thanks for rooting for Cointerra! We will make all Texans proud

Loredo

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Quote from: cointerra on August 03, 2013, 11:48:02 PM

We are in Austin.

Even though I'm not there all the time (like when the heat index is 100+), I have a farm in Caldwell County.

That makes you my home team. Go, cointerra!

Loredo

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Quote from: Bitcoinorama on August 03, 2013, 10:55:04 PM

we can almost certainly assume another pre-order which will undoubtedly elicit a familiar response, but again is par for the course as they have no significant funding to manufacture otherwise.

Maybe, and i hope you're wrong on that. Here's the risk in pre-orders at this point, and why I'm more puzzled with each new one.

Nobody is going to buy into a pre-order scheme without some way (escrow, PayPal, credit card) to refund the order any more. And all it's going to take is one announcement by someone who has the chip on the board and the board in the box with the mailing label stuck on the day the credit card authorizes. Every one of the pre-orders would be a ghost town at that point.

You can say "yeah, but nobody has that kind of money." Would you be willing to bet a couple million dollars on that? Because that's what these pre-orders are doing.

cointerra

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Quote from: nightengale on August 03, 2013, 09:21:47 PM

Looking forward to technical details and pricing. Might even be worth the drive if Cointerra is planning to host some sort of open-day or is willing to entertain visitors...?

Where are you based? We are in Austin. Shoot an email to [email protected]. We can schedule a meeting.

Loredo

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Activity: 238

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Quote from: bbxx on August 03, 2013, 04:33:23 PM

Your website is great.
Missing phone/address is not a good sign though.

I hope you will succed, USA based customers would be very happy if you do most effective asics chips and lead the race.

What the hell are you talking about? Is this some kind of nationalistic bullshit? This ain't the Olympics; customers worldwide would be very happy with an effective hash solution that didn't entail pre-order nonsense and was sold at a reasonable price.

Quote from: superduh on August 03, 2013, 06:38:23 PM

logo is soso- but, noone should care about it

No, but I for one find it not only impressive, but somehow comforting, that within two hours of initially announcing their firm here, somebody has identified the origin and development strategy for the logo. Since BFL (and Avalon) potential vendors are not given very much slack around here.

Bitcoinorama

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Ok, so by 'well funded' they mean a $1.2m 'Angel investment' which for all intensive purposes will be spanked on the journey to tape-out. Also I doubt their own wages come cheap. So they are almost certainly a few mil shy of 28nm fab, therefore we can almost certainly assume another pre-order which will undoubtedly elicit a familiar response, but again is par for the course as they have no significant funding to manufacture otherwise.

Timewise it appears to be they will be head to head with Hashfast. Seed funding wise both Hashfast and Cointerra have tape out covered. Hashfast have 'partnered' with Uniquify that almost certainly means they have given away equity for use of time, staff and deskspace and split costs associated with tape out...

nightengale

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Looking forward to technical details and pricing. Might even be worth the drive if Cointerra is planning to host some sort of open-day or is willing to entertain visitors...?

eve

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Quote from: PeZ on August 03, 2013, 07:11:15 PM

Nice scam. Cheesy

Very much an Indian Project??

PeZ

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Activity: 297

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Nice scam. Cheesy

superduh

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logo is soso- but, noone should care about it

Bitcoinorama

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Merit: 500

I know they are looking for part time graphics as they crowdsourced their logo using 99designs.co.uk a couple of months back.

Impressive team btw. Looks good so far, was looking at your site yesterday... Wink

Topic: Cointerra Mining ASIC coming soon - page 19. (Read 35548 times)