CoinTerra Unveils a 2TH/s ASIC Bitcoin Miner : TerraMiner IV

sharknutzz

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Quote from: sharknutzz on August 19, 2013, 08:39:55 PM

Quote from: cointerra on August 19, 2013, 06:44:44 PM

Due to high interest and demand, we have decided to announce the specs and price of our first product: TerraMiner IV, before the official launch of our full product line.

TerraMiner IV is the most powerful, high-performance Bitcoin mining rig available for pre-order and packs a hashrate of greater than 2 TH/s.

Designed by the world’s leading experts in ASICs, mathematics and algorithm design, it features Cointerra’s in-house designed ASIC – the GoldStrike1.

TerraMiner IV delivers unprecedented performance while maintaining an exceptionally efficient wattage rating (of significantly less than a watt per Gh/s). It is optimized and designed for use by Bitcoin mining professionals who demand the very best cost/performance ratio for their systems.

TerraMiner IV will ship in December this year and retails for $15,750.

For more information and to place an order, go to order.cointerra.com.

Looking forward to serving you,

The CoinTerra Team

- -

We apologize for the slight delay in the announcement here on the forum. We wanted to be sure that all the people who actively signed up for email updates on our website received this message first.

$15,750!? To me, that says "Hi. I'm Cointerra. I'm only interested in talking to you if you have a TON of money laying around for an asic."

Anybody with any real interest in the bitcoin community would be willing to serve all customers, not just wealthy ones.

This is a very unfortunate mistake you are making. It obviously only benefits very few with deep pockets, it is an absolute disgrace to the bitcoin community as a whole. It has no value whatsoever to low-end consumers (miners) - the very people that brought bitcoin into existence. What a horrible business model, nothing more than a quick exploit for big profits.

If you are interested, have a look at a company who serves the entire community: AsicMiner (friedcat) has everything from low-end USB sticks to blades. Something for everyone. (You'll figure out after you fail that "something for everyone" was something you've overlooked while you were blinded by huge hash rates selling for tons of money)

Will it make you happy knowing that so many out there would love to own a product like this, but that you've completely priced most of them out? You deserve to fail, miserably.

Goodbye Cointerra, and good riddance. Save some money for your bankruptcy lawyers.

http://www.coindesk.com/bitcoin-mining-firm-cointerra-files-chapter-7-bankruptcy/

onryo

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Your TerraMiner II that is set to be shipped on January 14 looks really interesting. 1 TH/s at $3500USD and a power utilization of 600 Watts (0.6 Watts/GH) and “only” $3.5 a GH looks extremely interesting.

http://mining.thegenesisblock.com/a/fa1b28edd8

As they say. If it sounds to good to be true it probably is.
I for one will make an order if you escrow or PP or use some other reversible payment. Sorry but we have been fucked over one to many times. Your team looks awesome. A European manufacturer/distributor would be advised as many of us are sick of shipping (shipping/customs time) custom fees and shipping fees and worst the satanic rape tax from items from outside of the EU. As a company you can avoid the import tax to Europe if the devices are assembled in the EU. Something as trivial as dropping in a PSU can be considered “manufacturing”. Pick a EU country that has ultra low taxes to send the items from that EU country. That way other EU countries wont get smacked with say a 25% (like the Nordic countries) import tax. They would just pay what the other EU sending country has to pay in VAT. Not sure if things have change with the laws in the last 6 years but this is how we would get things done back then.

600watt

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looks like not many forum people are ordering their stuff. will others do? are they selling large numbers ?

zedicus

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Quote from: CoinHoarder on August 28, 2013, 10:57:47 PM

Yes, although to be fair I don't think Cointerra has released cooling specs/info, neither have a couple other companies.

Yeah i was going through cointerra's faq looking for it..

CoinHoarder

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Yes, although to be fair I don't think Cointerra has released cooling specs/info, neither have a couple other companies.

zedicus

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Quote from: DeathAndTaxes on August 28, 2013, 09:21:18 PM

Quote from: zedicus on August 28, 2013, 08:45:57 PM

Impressive indeed, when you put it like that! I wonder who has the most energy efficient asic?

https://bitcointalksearch.org/topic/break-even-difficulty-by-hardware-efficiency-power-cost-value-of-btc-281279

Thanks for the link...

Quote from: CoinHoarder on August 28, 2013, 09:20:25 PM

Quote from: zedicus on August 28, 2013, 08:45:57 PM

Impressive indeed, when you put it like that! I wonder who has the most energy efficient asic? At the same time i wonder who's chip has the most headroom, in terms of overclocking..

If I had to guess, probably HashFast because water cooling comes as the stock cooling solution.

I forgot about that.. KNC dropped plans to water cool a while back if im not mistaken. I wonder if they will regret it.

DeathAndTaxes

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Gerald Davis

Quote from: zedicus on August 28, 2013, 08:45:57 PM

Impressive indeed, when you put it like that! I wonder who has the most energy efficient asic?

https://bitcointalksearch.org/topic/break-even-difficulty-by-hardware-efficiency-power-cost-value-of-btc-281279

CoinHoarder

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Quote from: zedicus on August 28, 2013, 08:45:57 PM

Impressive indeed, when you put it like that! I wonder who has the most energy efficient asic? At the same time i wonder who's chip has the most headroom, in terms of overclocking..

If I had to guess, probably HashFast because water cooling comes as the stock cooling solution.

zedicus

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Impressive indeed, when you put it like that! I wonder who has the most energy efficient asic? At the same time i wonder who's chip has the most headroom, in terms of overclocking..

CoinHoarder

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Quote from: zedicus on August 28, 2013, 08:29:01 PM

Sorry if this has already been asked but what is the power draw on these things? Anyone know?

I think they are estimating 1,200w... pretty impressive really considering a four module Avalon is 110 Gh @ 975w

zedicus

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Sorry if this has already been asked but what is the power draw on these things? Anyone know?

Carlton Banks

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Quote from: kingcoin on August 28, 2013, 03:14:47 PM

Cointerra in Anandtech:

http://www.anandtech.com/show/7246/the-rush-to-bitcoin-asics-ravi-iyengar-launches-cointerra

How this type of story fits into Anandtech's "cub-scout badge" journalism model beats me. Which staffer covers this story, the wastepaper basket?

crumbs

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Quote from: kingcoin on August 28, 2013, 03:14:47 PM

Cointerra in Anandtech:

http://www.anandtech.com/show/7246/the-rush-to-bitcoin-asics-ravi-iyengar-launches-cointerra

Thanks for the link.

"Q: Finally, how do you assuage feelings from users who have wanted ASICs but have been stung by long wait times? Will you be having regular updates with the community regarding the status of the products?

A: We plan to have a blog and have a person assigned to communicate to purchasers."

Lolz.

kingcoin

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Cointerra in Anandtech:

http://www.anandtech.com/show/7246/the-rush-to-bitcoin-asics-ravi-iyengar-launches-cointerra

Bitcoinorama

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Quote from: willphase on August 27, 2013, 08:06:07 AM

http://www.coindesk.com/cointerra-cuts-price-of-terraminer-iv-bitcoin-mining-rig/

price reduced from $15,750 to $13,999

approx $7 per Gh which makes it cheaper than BFL.

Will

Still not cheap enough to satisfy Paypal's maximum transaction price of US$10,000.

They promised to use Paypal as a secure payment processor, this offering sufficient consumer protection.

Rampion

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Quote from: gkm22d on August 25, 2013, 04:36:58 AM

Oh, I don't mind preorders. I think a lot of people will be terribly dissapointed when they realize that no preorder means no profit.

Why would you sell a product in hand for less than you would get from mining with it? Are there any asic manufacturers listed as charities?

16k still too expensive. I would purchase immediately for 10k though.

I guess you do not mind preorders because you did not preorder BFL, bASIC, Avalon batch #2 and #3 and Avalon chips.

No matter how hard we try to warn noobs, more and more noobs will flood the Bitcoin ecosystem, they will arrive completely blinded by greed, and they will throw their money into these pre-order schemes while dreaming about getting rich quick.

Sad.

willphase

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http://www.coindesk.com/cointerra-cuts-price-of-terraminer-iv-bitcoin-mining-rig/

price reduced from $15,750 to $13,999

approx $7 per Gh which makes it cheaper than BFL.

Will

tinus42

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Quote from: worldinacoin on August 25, 2013, 01:27:12 AM

Tired of all the pre-announcements. How about selling when your product is ready and ready to ship?

Only ASICMINER seems to be able to do this (and that is why they can charge high prices and people still buy from them). Why can't the others? C'mon give us some real competition!

gkm22d

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Quote from: monkee on August 25, 2013, 12:28:36 PM

Quote from: gkm22d on August 25, 2013, 04:36:58 AM

16k still too expensive. I would purchase immediately for 10k though.

you may want to revisit http://mining.thegenesisblock.com/ and set shipping date to jan/2014

10k is still way overpriced

they are supposed to announce their remaining product line "by the end of the month" unless they miss their second self imposed deadline.

i think they must decide to ship 3x hashpower for the same price or slash prices by a third to live up to their own hype and leave any meat on the bone for their customers... or implement a SERIOUS protection plan. guarantee a return of invested btc, minimum, for anyone to take them seriously.

Under this scenario, http://mining.thegenesisblock.com/a/90782dc52a , the difficulty would be 557 billion by the end of 2014. That would be almost 4,000 petahash. Even at $1 a gigahash, that is $4 billion worth of hardware, not to get into the electricity consumption.

I think this scenario is more likely:
http://mining.thegenesisblock.com/a/e9b41de60d
That is 2 billion for January (yes it says august), which is unrealistically high, with a 400 million increase, every month. that is another 2.8ish petahash a month.

Of course all numbers a can be thrown out the window if there is another bubble before then.

crumbs

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Quote from: DeathAndTaxes on August 25, 2013, 12:54:16 PM

Quote from: gkm22d on August 25, 2013, 04:36:58 AM

Oh, I don't mind preorders. I think a lot of people will be terribly dissapointed when they realize that no preorder means no profit.

This. Preorder = risk. Risk is the potential for profit.

Sounds clever but is untrue. Risk is the potential for *loss*, which may or may not translate into potential for profit. Stupid risks -- walking out into traffic, investing in Equestria real estate -- offer dubious profit potential.

Quote

I thing people are going to be terribly disapointed once companies have units in stock for immediate delivery. Look at ASICMiner as an example. I mean once built a company can do the same math a consumer can. Future cashflow can be reduced to net present value. If a company has a miner and it has a net present value of 50 BTC why would they sell it for less than 50 BTC?

Because they get a higher profit/time by selling miners than by mining them? If they make 90% profit by selling each miner at 45 BTC, and they feel the market could bear plenty of miners, why not sell miners, instead of mining for a year & only getting 10% profit? Come on, this is basic.

Quote

They could simply use it to mine and generate >50 BTC. Now if a company runs out of space, or power they may sell it for slightly less than 50 BTC but the days of massive "potential" profits are over.

No company is going to sell a miner (in stock ready to start hashing) which they project will produce 50 net BTC in a year for 20 BTC. Once again look at ASICMiner blade prices. This is the same equipment used by ASICMiner. Why would they sell it for significantly less than what they can earn from mining? As a shareholder it doesn't really matter where the revenue comes from (sales or mining) the goal is to maximize revenue.

See my answer above.

Topic: CoinTerra Unveils a 2TH/s ASIC Bitcoin Miner : TerraMiner IV (Read 18654 times)