Terra is land or Earth, based on the French word for Earth
Tera is an order of magnitude.

Might want to fix that. On your site and this forum. Doesn't reflect well on the team.


There are a whole bunch of other English issues on your site and post but no one, including me cares. Terra and tera- is a pretty glaring mix-up though, especially when it is in big green title letters on your site. I don't want to be your editor, I just wanted to point out an error. You're welcome. I can see you take criticism well by sarcastically passive-aggressively attacking those that comment.

mokahless
1 ordered
15/05/2014
BTC
Waiting
Waiting

Hmm. I guess you aren't updating this anymore.

mokahless
1 ordered
15/05/2014
BTC
01/07/2014
BTC

Below, "Bitcoin" is the protocol and "bitcoin" is a unit of currency.

What you are missing is that Bitcoin is a protocol.

The code is open source.

Transactions require verification and miners do this, attempting to find a hash value that works with the previous hash value of the last block. This process solidifies transactions to prevent double spending. Essentially, verifying the Bitcoin ledger.

The protocol/ code of Bitcoin itself is responsible for issuing new bitcoins. These bitcoins are not issued by people; they are issued by the Bitcoin system automatically. This is part of the whole idea behind Bitcoin where no person can control any part of the system or inflate it at will like the FED can with the US dollar. This is part why Bitcoin is so important. It is a completely autonomous currency experiment, among other very amazing innovations in what can be done with the technology.

The newly issued coins become a new transaction with no inputs and just an output to the address of the miners. Only the process of mining can create transactions without inputs (a source).

The issuance is automatically controlled and set to an average rate of introducing 25 new XBT into the system per 10 minutes. This halves every ~4 years, resulting in controlled inflation of the amount of bitcoins in the system to eventually result in a static number, after which the transaction fees will encourage miners to continue verifying transactions.

To be a bit more detailed, mining attempts to find the correct hash by guessing at billions of hashes per second until a valid hash is found. The protocol itself adjusts the average rate needed to find a block such that no matter how much power is thrown at the network, a set number of bitcoins, and no more, will be introduced every 10 minutes.

1. He was not an MSI employee nor was anyone there representing MSI, so your post is misleading.

2. I think you killed all chance of getting anyone to look at Bitcoin fairly on that forum with your statement:


It sounds like those spam "I made $46,000 this month by going to this website" comment posts to anyone who doesn't know much about Bitcoin. And as someone who's first intro to Bitcoin is that statement, I would immediately dismiss it.

Basically, on the mining side, instead of explaining about electrical cost and transaction processing, you said something like "I'm making tons of money! Bitcoin is awesome!"


I do find it interesting, the responses. It's very interesting socially how people suddenly become very biased and mean when they dislike something. Or even if they are just judging someone by initial impression.


It's too bad he closed the thread. I think forum members here who are also MSI members would have posted some interesting comments in that thread.

Man, I kinda wish they weren't a scam so I could see how they try to dissipate 600W+ for each chip.

I dunno, man. I'm looking at newegg:

280x/HD7950 either out of stock or no lower than $380

equivalent GTX760 in stock and $259 or $269

In my experience, a lot of people are biased towards Nvidia for gaming.

Last month, my nearby tigerdirect had a sale on sapphire 7950s for ~$200. And just after that, they had lots in stock. Last week I checked. There were none and I overheard an exchange between the manager and some customers. He told them people were buying them for "bitcoin mining" so they were out of stock to which the customer seemed surprised and stated "Isn't that not worth it anymore with GPUs?" I went over to the section where they were before and there were just a bunch of 760s, 770s, 780s and titans.

Look at the litecoin hashrate jump since mid-November and it seems to match up with this hypothesis, especially with the last 21% diff jump. Since Nov. 21st, the total hashrate for litecoin mining has gone up the equivalent of over 57,000 radeon 7970s or over 40,000 R9 290x's, heavily overclocked.

Now, time for some supposition and a break from facts. It really looks to me like litecoin is repeating the Bitcoin summer of 2011. I mined a bunch to immediately sell when litecoin was still CPU only. When the GPUs first rose way back then, I immediately gathered my remains and stopped selling (heh, if only I had kept them). I recently sold 1/4 of my holdings at 0.0316XBT but was surprised when it went as high as 0.05 before falling. I should stop underestimating speculators. I'm really curious as to what will happen, considering litcoin does not have the same support Bitcoin did back then and most places that accept litecoin do this in addition to bitcoin. Where will it level out? How will the upcoming ASICs affect this market where so many people are deluded by the idea that litecoin can't have a dedicated device built to mine it? The idea that that can't happen really makes absolutely no sense. Will it have it's own place? Or will it die? Will people realize their misnomers regarding the so-called advantages? Or will the crowd mentality grow such that the people using it aren't using it because of the so-called advantages?

Shoot. Got really busy with other things in my life right after. I'll be down if you ever do this again.

...

Business not going so well?

Just to put it out there, your business model, how you present yourself, the website, the fancy case designs and broad lineup are all in line with previous scams seen on this forum. Not to mention accepting only payment methods that provide no consumer protection (go on, try to buy something without cheque, XBT or wire. You can't even on products that aren't on "special sale, XBT, wire and cheque only." It's a bait and switch). If you have units, why are he pictures on the product page on your site still mockups?

Not to mention that your not-so-tightly-packed, fancy-cased miners appear to be designed to appeal to general customers. This is contradictory with your claim to be targeting the corporate/business sector. If I were in such a situation... heck, even in the mining situation I am in now, I would much prefer miners to be designed with space and scalability in mind. 4U cases are a common idea but at the very least, stackable, rectangular cases would be desirable for large scale mining.

Therefore, with your target audience in mind, I cannot see a logical reason for your case design or your unnecessarily diverse product line. It makes even less sense for a startup who wants to minimize their production costs. Mining is not a sector where people want pay more for pretty boxes to use as furniture. It is a sector where people want efficient and scalable equipment.

Holy shit, what a day.

That is not your choice. You do not control free speech nor do you control information in the mining industry. People have the right to compare you to your competitors. Complaining like this really makes you look bad.

Why are you announcing this on a public forum?

a typical "with us or against us" tactic of scammers. Please stop if you want to stop looking like a scammer.

impressive.

...gross


Based on my objective reading of this entire thread, I really think you should practice what you preach.

Are they warm and cuddly?

He says. Then he proceeds to both take it and dish it, tarnishing his reputation. How you take constructive criticism or even nonconstructive criticism, will speak volumes.

I have quoted what has stood out to me in this thread (and some jokes) but in all seriousness, you seem to be a small business attempting to take on the challenge of designing, building and selling mining technology. Good. But I would not be willing to purchase from you at this time. Your standoffishness against your customers is painful to watch. You present yourselves as unprofessional and, well, remind me a LOT of Inaba. Just because some of your customers/ potential customers are dicks doesn't mean you should be one.

I am very interested in your mining units for the future and might be a potential customer but you need to get your act together first. KNC did this. I was critical of their first announcement. They got their act together and I ordered from them. They then delivered. I very much hope you guys can get your acts together, start acting professional and not lose it trying to show up customers on a public forum. It raises too many red flags with me. I will then look at you more closely and might order as I did with KNC. Mario74's endorsement of you certainly peaks my interest in your units.

Please clean up your act so I can take you seriously. You seem like a small startup. So do it once and do it right. Best of luck.

------------
Edit: heh, must have been tired, Marto74, I'll leave my post unchanged for posterity though. And your white shirt is in Bulgaria. I'll buy it when I visit there

George Lucas could now sell all his USD (from 2011) and buy all XBT in existence, if none were lost and all were being sold.

Things are starting to heat up again. Now I also need to decide if I should keep following the MTGOX price, which places us a mere $1.4M from the $27M we surpassed before.

Add me to the total for 1. I may update this post later as I might be in for 2. (Shipping to Canada, Medium)

I will send transaction once I've figured out if I am in for 1 or 2.

Alright, well, I have my chips now and most of my components. Now I need programmed PICs and K1 boards. Suggestions?

I have access to a local place that can make boards but I am unsure of the information I need to give them. I'd also really rather avoid programming the PICs myself, as that would require further investment than I was hoping for a hobby project.

In that case, I am piping in my interest for 5+ depending on my Canadian miner friends. Soon as paypal is up.

I'm not saying if he is a scam or not. It doesn't matter. What I care about is my investment. Whether he disappeared due to personal matters and comes back in 2 months or if this was some elaborate scheme (unlikely) doesn't change the situation on my end.

I know I am past the paypal limit and I know there are ways around it. I just need to decide over the next little while if all the effort will be worth $50 or not.

To double check, Chis was the only one involved with the web store for the boards, correct?

Also, it seems the project is progressing well without him. I originally wanted this as a personal project for fun, anyway. So how are the K1's progress? What information would I need to give to a board manufacturer to have the unpopulated boards custom made?

I may have to file a claim with paypal if Chris doesn't respond to my email. We'll see where that goes.

I have not kept up to date with what is going on so from an objective standpoint, someone disappearing suddenly with a message like that... There is clearly something wrong and risk-wise, I want my money back if he cannot ship my products immediately.

From an objective standpoint, I do not understand all the people in this thread after a month of him gone saying stuff like "he has a good reason" or "maybe he is taking some time to himself" or "I think he has his reasons". Seriously? I made an investment and he has disappeared with my money without so much as a PM, forum post or email explaining and I have nothing in return. Someone tell me why you are all still behind him. Please keep in mind I have not been keeping up with the goings-on since I ordered at the end of July. (The smallest free-shipping amount, with the intention of ordering more once I received my first.)

Maybe I am missing something from reading only a couple pages back? Would someone like to enlighten me?

1. Ask them. The product doesn't exist yet.
2. Ask them. The product doesn't exist yet. That said, the specs indicate a RPI host integrated into the unit. It will operate on its own.
3. You are neglecting difficulty. I recommend you not look into any serious mining investments until you are capable of properly creating your own difficulty modelling based on manufacturers and shipping ASICs. That said, my calculator indicates a <6-month return if they actually deliver before January.
4. Ask them. The product doesn't exist yet.
5. I don't trust them yet. Excellent returns. Never seen them around much. They did deliver Avalon clones in the past successfully. They only accept non-reversible transactions (BTC, Wire Transfer)... Could be the next Xcrowd. Could be the next bASIC. Could be the next KNC. Could be the next BFL. Could be the next ASICminer. We all know what is happening with those companies. At a glance, the Bitcointalk community seems to trust them so far. Do your own research though. Look into this very, very thoroughly.
6. Properly? No. You are essentially becoming responsible for your own mini-datacenter where uptime is of utmost importance for your profitability.

^ this. If anyone has info, I'd like to properly incorporate them into my mining calculations. If they are currently mining, my total network estimates will drop.

Thanks for posting the entire profile. His profile is not publicly viewable, unlike most. I simply assumed it was blank.

This is what I like to see. Due diligence and discussion both ways without trollers. A few more (https://bitcointalk.org/index.php?topic=269093.msg3140206#msg3140206) fishy/sketchy/odd things to be taken care of and I may start looking at them more seriously. It took me several months before I found KNC to be trustworthy enough to take that risk.

That said, I will never make a serious investment in anything without fraud protection from escrow, CC or Paypal.