Topic: CoinTerra Update: Engineering and Production status - page 2. (Read 4660 times)

This is why I love reading this forum. You fanbois are quite humorous. 2100 watts, requires a extension cord from another circuit in another part of the house to be dragged across the floor to power the unit. Home use? LOL! I'll chose "obsolute" hardware that makes a profit over a pretty box that doesn't, any day of the week.

i completely agree with you, antminer is for people who want to buy something thats obsolete quickly and uses too much power, and takes up a too much space, and will require more hassle and wiring up power supplies, and is dangerous if used in a home environment because its not certified or approved for use.  ant miner is for hobbyists who don't mind having bare boards exposed, and power supply wires dangling.

i also completely agree with you that you're excellent at twisting and misquoting other people's posts

Free express shipping, arrives in a few days.

I completely agree! Antminer is for people who care about profitability. CT is for people who like wasting money on fancy boxes.

Thanks for the link.

I'd still be looking at roughly $1340 Canadian, plus shipping, can't see how much they charge, I'm assuming it isn't free.

Then I'm gonna get nailed by customs for tax and duty I assume. Tax alone would be about $160. There are people listing these on Craigslist for $3500 here though.

Maybe some money in just reselling them, buy bitcoin with that.

its a different product category.  the antminer looks like its aimed at the hobbyist end of the market (same as bitfury).. it doesn't seem quite as professional as some other products...  it doesn't have a case, nor a power supply, and seems less 'plug and play' (and costs more, and uses more power per gh, etc).  but yes, its available from stock, and that counts for a lot.

if i didn't already have an early order with knc, hashfast and cointerra i would've been more interested.  But I'm eagerly awaiting the wasp to see how they get on.

-- Jez

https://bitmaintech.com/productDetail.htm?pid=00020140107162747992Ce5uBuxW06D6

Thanks for the laugh joe !!!!!!!!!!!!!!!!   

Way to miss the point. CT is highly overpriced. CT = $3/GH, Bitmain = $6/GH. The difficulty is going up way more than 2x in 3 months. I guarantee it. Dare to bet on it?

JINX!!

ok.. reworking some of the assumptions...   if asic companies made their own asics and system boards and deployed their own asics in their own private mines...  they could buy the systems cheaper than retail, of that there is no doubt.   but the costs aren't zero.  its at best (in this generation) half the retail cost.

i suspect the cost price of a knc jupiter s probably still approx half the retail cost, and don't forget that the $3/gh that I've quoted is a cointerra price (i.e. cheapest that i currently know of), not a knc price (which was $17/gh for the 1st jupiters in oct).. later jupiters were cheaper and faster is still probably in the $8-$10/gh range.

if you're thinking that knc can make a jupiter (for their own in-house use) for $1/gh, i think thats much too low and not achievable in the current generation.  of course, with 20nm maybe its closer to reality.   And by comparison, look at the new asicminer chips announced yesterday, in the $1/gh range.. just for the asics.  when you add boards, cooling, power, controller, etc... the price is going to be north of $1.5-$2/gh.

and think about how many millions you need to devote to build out your private mine.   21e6 raised $5m at a 6m pre-money valuation...   what does $5m buy you?   maybe a full asic design and a first batch of production.  so maybe they could afford the first PH at most.  they can't afford any more without raising more cash, or mining to raise the cash, to build up the mine further.

and why would they do it when there are plenty of people willing to give them cash, now, to sell their miners.. cash in advance is much lower risk and a better return for them than mining, where they take on network diff risk and deferred cash-flow.

Don't confuse retail with "cost", do you think KNC is paying $3/GH for the hashrate they are putting online themselves?

I agree that 10x in three months is pessimistic, but 6x is what 2%/day suggests— and thats what we've been averaging for some time now (http://bitcoin.sipa.be/growth.png).  It can't continue forever, of course, but long enough to prevent profit for everyone buying at $3/GH delivered months from now? I absolutely think it can.

difficulty probably won't go up 10x in 3 months.  thats quite a pessimistic view.

we're at end of jan and the network is 17.5 PH today.  So you think think it could be seriously be 175 PH by end of April ?

And, as we know.. the lowest cost bitcoin mining equipment available today costs $3/GH and some of it is trading at $20-40 per GH, so that $3/gh price is at the extreme low end of the market ...  so for the sake of argument, lets assume that it stays at that price for the next 3 months...

So you're saying that with 175 - 17.5 PH.. thus 157 PH will be sold (or has been sold) to be deployed on the network in the next 3 months.

157 PH, at $3/GH (or, $3M per PH), is $472.5m's worth of bitcoin mining equipment.

you really think bitcoin miners will spend and deploy nearly $500m on bitcoin mining hardware in the next 3 months?

then lets compare electricity usage...

The best bitcoin miners today, and also anything available in the next 3 months, is approximately 1 watt per GH.. which equates to 1 Megawatt per Petahash.

Thus you are saying that 157 Megawatts of additional continuous power will be required for bitcoin mining in the next 3 months?

i really think thats unlikely.  i don't think you can simply take what bitcoin mining has done over the last few months and extrapolate even the next few months worth of use as we've undergone a transition from slow asics to fast asics, and that just can't continue at the same rate.  sure, it will keep growing, but at a slower growth rate.

-- Jez

200 gh/s for $1000?  I haven't been able to find anything close to that.  I'll have to keep looking.

That's at least 3 months away, difficulty will go up 10x in that time. So 200 GH/s now is equal to 2 TH/s in May. You can get 200 GH/s now for just over $1000. Why would you throw away $5000???

So I can pick one up (TerraMiner™ IV – 2TH/s, Networked ASIC Miner) for $6,391.97 U.S. to be delivered in May.

For the price, this seems to be the best bang for your buck that I have come across so far.

The only big variable i see is mining difficulty. Am I missing something?

I notice they only take Bitcoin and bank transfer, that's a big red flag to me, or is this normal with companies like this?

Do any take credit cards?

course it 'bothers me' that i will receive 15% less hash power than i was expecting.  But in the time since i ordered, bitcoins are worth 800% more than they were when i made the decision to buy...   so I'm significantly better off than i forecasted i would be...!  (and the hardware is consequently worth a lot more... if it were sold today!)   bitcoin mining hardware value correlates well with price of bitcoin.

but 'bother' is the wrong word.  this is business.  and my portfolio is diversified.  mining is one of my areas of interest and i invest in other assets (properties, companies etc).  

I've said this before.. but i'm less worried about taking delivery of my CT gear within a few weeks of schedule (at 15% less than expected hash rate) than i am at not receiving my HF gear, 12+ weeks later than scheduled... (regardless of whatever hash rate hf will over-delver).  and i paid more for my hf gear than my ct gear, $/gh.   bottom line, the delivery date is more important (read, more valuable!) than the hash rate.

Really 



more here:
https://bitcointalk.org/index.php?topic=416576.20

I agree with you that at this point, the best thing to do is to deliver what they have.  My complaint is the same one we discussed a few weeks ago, that they have over-promised and under-delivered.  This doesn't seem to bother you, and I'm trying to figure out why.

Did you really just compare CT with KNC? KNC delivered 2 weeks late with 50% greater hashrate. Customers were fairly compensated.

CT is delivering 2 months late, at -20% hashrate. Ouch!!!

"22 billion in May"


is very possible  at present 2% per day compound growth = 22 billion at end of may / early june ( this has being the trend for about 8 months)
it possible Neptune will ship by mid May
shipping soon  = bfl/hashfast/cointerra and others