Cointerra Mining ASIC coming soon

[Loredo]

^I believe that's Gov Perry on the left.  Can't tell for sure with that cap hiding his Good Hair.

Could be.  But it looks more like Josh Zerlan to me.

[1715386040]

1715386040

[1715386040]

1715386040

[iCEBREAKER]

Can you find my photo at The Hole in the Wall?

I love that place.  Discovered Woody Pines there during SX.  Great music and new favorite band, even for a normally 100% dubstep type.

Damn, I would kill for a margarita now.   

[-Redacted-]

Sounding more realistic....

http://thegenesisblock.com/billionaire-investor-and-samsung-lead-cpu-architect-bet-on-bitcoin-mining/

[minternj]

Realistic like the article right under it which was a hoax?

edit - Fyi i do think this cointerra is credible, just having some fun. But in the article i see,

"They plan on starting pre-orders by the end of the month, with production scheduled for December."

Wow. December? Good luck with that one! You're 2 months too late. It better be like 1000 for 400GH

[gateway]

Wow. December? Good luck with that one! You're 2 months too late. It better be like 1000 for 400GH

Ya that's the prob with all of this a getting roi back, even 1k by dec might be a stretch :/

[KS]

I'm still wondering about the actual level of protection under section 75, given the Terms you accepted when you ordered stipulated it was a business sale and you admitted to be a business.

So, one of the two or both is/are acting in bad faith. You're acting in bad faith because you claim to do the trade as an individual (i.e. not a business) to be covered by S75 or a business (which you are not) to be able to buy from them (circumventing the Terms) and they're acting in bad faith because they don't want to offer the necessary security for private customers (and no warranty) - but this is more debatable.

Did you have a lawyer look it over? (apologies if it was mentioned already, TL;DR)

I'm going to look at the same question over here (different laws, different judges).

I doubt it'll be that big of an issue,  KnC's refund policy is that you can ask for a refund at any time until they ship your unit. If they turn out to be a scam and violate their refund policy then it shouldn't be too hard to sue them, as we know who they are and Bitcoinorama and KnC are both in the EU.

What happens if they send you an overpriced toaster ? So yes, you can sue, but as a "business" (not the same warranty as a private person/consumer) and it becomes very expensive. That's quite a bit different from doing a chargeback under S75.

[KS]

I'm still wondering about the actual level of protection under section 75, given the Terms you accepted when you ordered stipulated it was a business sale and you admitted to be a business.

So, one of the two or both is/are acting in bad faith. You're acting in bad faith because you claim to do the trade as an individual (i.e. not a business) to be covered by S75 or a business (which you are not) to be able to buy from them (circumventing the Terms) and they're acting in bad faith because they don't want to offer the necessary security for private customers (and no warranty) - but this is more debatable.

Did you have a lawyer look it over? (apologies if it was mentioned already, TL;DR)

I'm going to look at the same question over here (different laws, different judges).

I doubt it'll be that big of an issue,  KnC's refund policy is that you can ask for a refund at any time until they ship your unit. If they turn out to be a scam and violate their refund policy then it shouldn't be too hard to sue them, as we know who they are and Bitcoinorama and KnC are both in the EU.

Nah, shouldn't be that hard to sue them.  We'll do it the same ol' way we handled Pirateat40 -- we'll rant all sorts of vengeance on these boards & wait for our parents the bankers to do something.  
BTW, what does KNC doing in this thread?  Are they on iffy terms with reality too?

Indeed.

S75 applies to everyone else too, this is not about them per se.

[aerobatic]

So you guys are saying that the boxes that KnC are currently pre-selling for $7000 and BitFury are preselling for $8000 for October delivery would struggle to be priced for December delivery at $1000?   That seems like a very steep price decrease and I think you might be over-egging the devaluation... and if anyone really believed that, no one would buy a $7000 box for October!

Wow. December? Good luck with that one! You're 2 months too late. It better be like 1000 for 400GH

Ya that's the prob with all of this a getting roi back, even 1k by dec might be a stretch :/

[jlsminingcorp]

Sounding more realistic....

http://thegenesisblock.com/billionaire-investor-and-samsung-lead-cpu-architect-bet-on-bitcoin-mining/

Notice that the 10x increase in power efficiency rumor has already started to propagate and has found its way into this article. Cointerra suggested that this was not going to be achievable a couple of days ago (https://bitcointalk.org/index.php?topic=267552.msg2867038#msg2867038).

[creativex]

So you guys are saying that the boxes that KnC are currently pre-selling for $7000 and BitFury are preselling for $8000 for October delivery would struggle to be priced for December delivery at $1000?   That seems like a very steep price decrease and I think you might be over-egging the devaluation... and if anyone really believed that, no one would buy a $7000 box for October!

I wouldn't be so certain. Bitfury for August delivery was priced at 22k and then 19.25k. Many companies are claiming they're bringing products to market in Q4 and ASICMiner has hundreds of Th/s to deploy if they're to stick to their schedule. December delivery is too late to have much pricing power in this environment, but how many pre-order investors will recognize that?

Cheers.

[eve]

Realistic like the article right under it which was a hoax?

edit - Fyi i do think this cointerra is credible, just having some fun. But in the article i see,

"They plan on starting pre-orders by the end of the month, with production scheduled for December."

Wow. December? Good luck with that one! You're 2 months too late. It better be like 1000 for 400GH

that would be a more reasonable price or 1000 for 500GH but will they deliver?

[Bitcoinorama]

So you guys are saying that the boxes that KnC are currently pre-selling for $7000 and BitFury are preselling for $8000 for October delivery would struggle to be priced for December delivery at $1000?   That seems like a very steep price decrease and I think you might be over-egging the devaluation... and if anyone really believed that, no one would buy a $7000 box for October!

Someone doesn't understand difficulty vs hashrate.

A $7000 KnC Box in Late September/Early October should be able to recoup it's costs in 3 Months or so, making considerably less every month.

By the time Late December rolls around (And don't kid yourself, every time someone says the month they plan to release, count it as the very last day of that month), at the same hashrate (400GH) if it costs over $1,000 you will probably see even less of a return even if the power consumption is extremely low or you have free power.

If KnC releases the amount of Hash Power that is predicted, we can easily see 300M-500M Difficulty come January 1st.

Either way, with all the new players popping up left and right even with the Credentials these guys have I will be hard pressed to make another pre-order that is estimated to ship around 5 months from now. I know there are new people here who are not aware of the ASIC Flood that is going to happen over the next 5 months and will end up making pre-orders that are based on current math but they will likely get burned hard.

HashFast/VMC/KnC all plan to ship before December. Avalon Chips haven't even arrived in Bulk yet. Butterfly Labs may eventually start shipping past day 1 (Hah I know).

Unless we start seeing $1-2/GH in Late December/January or an extreme boost to the bitcoin price, there won't be much demand for more mining equipment.

(I for one hope there is a large boost to bitcoin price but that again makes mining even more risky if there is another bubble)


All of that being said,

It is still exciting to see new players enter the market.

It's good for us miners. The original estimated profits were always going to be diluted by new entrants, not mining companies, but miners themselves. The mining companies just serve a purpose feeding the hunger that exists, and the more quality companies we get to choose from that compete against eachother, the better the deal we get.

The waiting game whilst BFL and Avalon attempted to fill a gap was the time to make excessive profits mining if you were lucky to get your hand in an ASIC when all anyone else had was GPUs and FPGAs, and understandably there's some belief, that's in fact that's exactly what BFL and Bitsyncom were doing for themselves.

Personally I see this ASIC revolution very quickly becoming as profitable as GPUs once were. Of course profit will be squeezed out until new entrants are no longer satisfied and stop purchasing. The guys that had the FPGAs did best and most consistently for the length of time they bridged from FPGA to ASIC as they were able to readily add to their rigs with immediate purchasing for a decent amount of time during the ASIC delays.

I don't believe we will get anywhere near $1,000 per Gh by December though, no way, not unless there are a huge amount of buyers waiting in the wings to purchase as and when a product is available without pre-order. I reckon it will have a more inversely proportional linear effect in price as manufacturers compete against eachother dropping bit by bit so as not to shave too much from their own profits too rapidly. They are developing companies at the same time and not even they know what the capacity for new custom is yet. I think we'd be lucky to see $4,000. These new guys wouldn't be making back their NRE costs otherwise. Perhaps after they can fight between themselves.

At the moment the 'Bitcoin craze' is focused on delivering this new tech to process and verify BTC transactions, negating the fact there's not a huge deal of transactions actually taking place. That's what needs to improve or all this has been for nothing. The money is in Bitcoin's mainstream adoption and encouraging that takes place through developing innovative ways for the public to adopt and use Bitcoin for it's low transaction costs, secure payment methods (as long as they treat it as they do cash and understand the lack of recourse) and varying anonymity. This new payment requires some education for people, we've seen enough people get scammed here, and the members of this forum are meant to be Bitcoin savvy. Traditional payment methods cater for the inherent stupidity in the general public and the inability for them to take responsibility for their actions. That's a huge barrier for Bitcoin to overcome before it's used frequently as a mainstream currency...

[Flashman]

I don't believe we will get anywhere near $1,000 per Gh by December though, no way, not unless there are a huge amount of buyers waiting in the wings to purchase as and when a product is available without pre-order.

Hmmm, seems to me that there's not any large influx of new money around any time soon, and all there is is us bunch of thrice bitten, twice shy old curmudgeons who need a 2 or 3 months production out of ASICs already in hung up vapourware hell, before we'll consider reinvestment. Oct, Nov, Dec is going to be a tense time waiting for all the ordered hardware to hit the network so that it is possible to see whether it's going to be worth running even 5 Terahash by then.

<ski instructor> If you based your ASIC project financial projections on the $/GH of Avalon Batch 3, or even 1st round of AM blades..... you're going to have a bad time.</ski instructor>

Anyway, what I see is that there's gonna be a huge oversupply of miners, all trying to pry open the wallets of gunshy vets...
http://en.wikipedia.org/wiki/Supply_and_demand
Who are probably all mostly tapped out for the next 3 months even if they ARE actually interested.

Then in addition, remember this, they are worth way, way less in projected benefit per gigahash than miners people thought they had a hope in hell of getting with "only" a 8 figure difficulty, or at least low 9s. It was a situation somewhat similar to Tickle Me Elmos, or Game Consoles, just before that first Christmas, Christmas is over, nobody wants a $500 Elmo now.

[2112]

Notice that the 10x increase in power efficiency rumor has already started to propagate and has found its way into this article. Cointerra suggested that this was not going to be achievable a couple of days ago (https://bitcointalk.org/index.php?topic=267552.msg2867038#msg2867038).

And I need to make a correction to your correction. The power efficiency increase is achievable, just not by Cointerra, simply because Cointerra doesn't have the required expertise in the back-end of the IC design. This still leaves the room for improvements made either by a new entrant or one of the existing vendors.

[jlsminingcorp]

Notice that the 10x increase in power efficiency rumor has already started to propagate and has found its way into this article. Cointerra suggested that this was not going to be achievable a couple of days ago (https://bitcointalk.org/index.php?topic=267552.msg2867038#msg2867038).

And I need to make a correction to your correction. The power efficiency increase is achievable, just not by Cointerra, simply because Cointerra doesn't have the required expertise in the back-end of the IC design. This still leaves the room for improvements made either by a new entrant or one of the existing vendors.

Thanks for the addition, that's quite right, I was only talking about the power efficiency that cointerra have discussed. It will be great to see even higher power efficiencies in the future.

[Bitcoinorama]

Cointerra, a well-funded startup of highly experienced ASIC designers, is pleased to announce that we are developing a high performance, low power and low cost 28nm ASIC which is expected to arrive in Q4 2013.

To learn more about Cointerra and to sign up for regular updates please visit our website: www.cointerra.com and follow us on Twitter @cointerra.

Signed up, looking forward for more info.

That's the first positive message I've ever seen you type! Congrats, it's quite refreshing...

[Sitarow]

Cointerra, a well-funded startup of highly experienced ASIC designers, is pleased to announce that we are developing a high performance, low power and low cost 28nm ASIC which is expected to arrive in Q4 2013.

To learn more about Cointerra and to sign up for regular updates please visit our website: www.cointerra.com and follow us on Twitter @cointerra.

Coinlab has anything to do with this?



At the advertised price for 10TH if network difficulty increase is constant at 20% or every 12 days and BTC value stays at $100USD each BTC.





Would be better to purchase BTC?

[dwdoc]

I think the winner will be the company that doesn't rely on pre-orders to fund development/production, and has stock on hand for new product launches. When an item runs out of stock, they stop taking money for it, and send you an email when it's back in stock so you can then place an order. That's how most other online electronics orders seem to work.

Other electronics are not money printing machines.  If a company does not need pre-order cash for development it will use its miners to hash for themselves or sell them for an amount that will barely ROI. What incentive do they have to do otherwise?  Look at what miners are sold for in secondary markets on this forum. That is how individuals and companies operate with miners in hand.

[Ytterbium]

While Cointerra sounds interesting,

having the blessing of Bitcoin megamouth and crumbs is actually bad press.....

Btw, Crumbs just deleted a posted referring to Cointerra with a "We". Implying that he is somehow involved with it.

Interesting.

What did he actually say, you remember his exact quote? it would be surprising if crumb was pro Cointerra when he was bashing KnC and HashFast just for taking pre-orders.

[dwdoc]

I'm in Texas and Austin is definitely our version of Silicon Valley.
Subscribed and watching with interest.

http://venturebeat.com/2013/03/05/why-austin-is-techs-new-destination-of-choice/