Topic: Cointerra Terraminer "2" TH "February" Batch (Read 1760 times)

I am a retired IBM employee who specialized in hardware and software testing while at IBM. I purchased 2 of Cointerra's Terraminer 4s. I have thoroughly tested them and found this hardware to be completely unsatisfactory. I strongly do not recommend buying one of these devices. If you do you will be sorry. The reasons why this is a bad investment is as follows.

1. They failed to deliver the preorders in a timely manner. You will lose thousands just waiting for the machines to arrive. They will be months later than promised.

2. They under perform in every way that is important.

   a. They promise to deliver a 2 TH machine. The Terraminer 4 cannot be made to go any faster than 1.6 Ths. Believe me when I tell you I have tried. The max speed is 1.6ths which will leave you 400 ghs short. Over time that will cost you loses in the thousands of dollars.

   b. They use nearly double the power that they should use. Each Terraminer uses nearly 2000 watts per machine. This problem will cause you much hardship. This much power usage can't be run reliably in most homes as it will cause the circuit breakers to trip. I had to rewire my workroom to accommodate the extraordinary power consumption. Obviously your power bill will sky rocket when running these machines.

3. The Terraminer 4 are also very sensitive to temperature as well. If the air temperature in the room goes over 77 degrees Fahrenheit the hashing rate drops dramatically sometimes going below 1 ths. What this means to you is that you will have to supply additional air conditioning to keep the temperature below 77 degrees. I am running 2 air conditioners that use about 2800 watts of additional electricity. Needless to say my power bill is staggering because of the inferior design of their hardware. The ac and the 2 Terraminers use approximately 24 dollars a day of power. This cuts very deeply into your profits.
4. The Terraminer 4s also are extremely loud. If you are married there is no way that your wife will let you run these things in your house.

In summation these machines will cost you thousands just to operate. You will spend most of your time monitoring the air conditioning and restarting the miners when they malfunction due to slight over temperature. These machines are garbage avoid them at all cost.

wise move indeed... you need to hurry though while coins are still cheap...

I get that, but I think I can cancel my order and just the money back and buy BTC.

TAKE THE OFFER.

Why?

Well I wish I would have taken the first offer on my Avalon Batch 3 that would have gotten my investment back - as it stood I lost ~40BTC (100BTC invested 60BTC mined)

Don't let yourself make a loss, worst comes to worst convince whichever of your friends hosts the other one to host yours as well and give them a % of profits to keep him happy and offset his costs and in the meantime find a buyer, people always love "in hand" over a delay.

An unrealised loss is a future gain in disguise However a realised loss is a loss forever

I will disregard that bid as it provides me with just about zero (0) profit margin.

I will bid 9.5 BTC pending review/verification of all the correct sales info, and would request escrow

Yes, this is not news.  However, it's supposed to be 1.6 - 1.7.

I just received email that the machine has moved to "shipping preparation" from "production".

I just saw an important thread that, the 2 TH, is under performing at 1.2 TH at the mining pools.

Good luck.

Cointerra called me today to verify shipping address.  If anyone is interesting in paying 13 BTC for 1 unit, let me know by 10 PM CST March 5th.

I just received notice that my order has "entered manufacturing".  I'm going to close the auction for now while I do some math.

Ok - I would do that.

Since estimates put the return at about 13BTC perhaps you start your auction at a price you might sell it at?

So start bid, 17 BTC, which includes the shipping I've already paid.  That does not include intl shipping.
I am open to using escrow, but you are purchasing an pre-order, how is this usually done?  I don't want to have to wait for the funds until the unit arrives, that's one of the reasons I am selling.

Hey guys - sorry I've been really slow.

So to answer your questions.

Why I am selling :

1) I currently scrypt mine with a bunch of video cards and am pretty much maxing out the electrical capacity of my apartment.
2) Mining scrypt has been kind of a hassle.  The cold weather has helped, so looking towards the summer, I expect mining to be an even more annoying process.  I know that the Terraminer should be easier, but I'm kinda over it.
3) As you can see in the invoice, I ordered two.  My second one is a group buy with friends of which I own about a third.  I'm pretty silly (as you can see in my posting history) and I actually gave out "Merry Hashmas" Christmas cards out for Christmas.  And I actually got a calligrapher to fill them out.  The second one is probably going to have to be hosted not in my home.
4) I hear that the unit is loud.  My apartment isn't that big.
5) I think I'm already exposed enough as far as Bitcoin/Crypto investment risk is concerned.

I don't know how much shipping to Australia is.  I'm sure Cointerra has already shipped internationally, so this shouldn't be difficult to figure out.

https://i.imgur.com/eNyX5wx.png
https://i.imgur.com/UWYmVRG.png

It seems like theres nothing to look at here? 

Please scan the invoice. Also where are you shipping from ?
I am in Australia. I suspect shipping will be expensive. I will wait for the invoice to verify first of course.
Why are you selling it ?

I'm selling an early March batch for 17 BTC. 
https://bitcointalksearch.org/topic/early-march-batch-cointerra-17-btc-475905

This was ordered 1-3 days (don't remember exactly when) after the February batch sold out.

I have to think about a reasonable price point.  I'll scan the invoice this weekend.

You have your actual invoice showing this?

Escrow? Reasonable price point?