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Author Topic: CoinTerra announces its first ASIC - Hash-Rate greater than 500 GH/s  (Read 229847 times)
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May 06, 2014, 01:19:16 PM
 #2301


will give it a try

nevertheless whats the warranty frame? 3 months?
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May 06, 2014, 06:12:24 PM
 #2302


quick question: whats again the warranty for the terraminers? 3 months??

i think i will have to open mine cause it looks very dirty inside and its overheating.

a vacuum cleaner placed up close to the fans should do the trick.  if you've got a good one that has a hose attachment so you can point it directly at the fans (like a dyson...) that should work.

-- jez


Well if there is any lint in there a vacuum will do you no good cause of the screen on the fans. And if it has any lint in it and you hit the back side of the unit with compressed air to clean the radiators its going to cause the lint to swirl around in the unit and stick together then you will have patches of lint on the radiators when you start it back up. Been there done that!

Edit: As for the warranty it was 90 days but now I think its 30. So I guess it would depend on when you got it.
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May 07, 2014, 07:18:30 PM
 #2303

I have to clean my unit every month, however if you do this you void the worthless warranty , CT TMIV design is awful.
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May 08, 2014, 03:36:14 AM
 #2304

I just got back my unit from repair a week ago and it has started acting up again. Can't do jack but watch it whine and bitch like a baby due to the warranty seal etc. I can't understand how it has any issues performing in a nice air conditioned closed dust free environment.
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May 08, 2014, 03:39:17 AM
 #2305

I just got back my unit from repair a week ago and it has started acting up again. Can't do jack but watch it whine and bitch like a baby due to the warranty seal etc. I can't understand how it has any issues performing in a nice air conditioned closed dust free environment.

It was built by retarded scammers?

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May 12, 2014, 06:51:47 PM
 #2306

LOL did you guys see the news from cointerra.

They are now offering 1-2 year mining contracts.  12 month contract for 2TH cost $8000, which is 0.009 btc/gh (8000/440/2000).  That's 30% more expensive than cex.io (already overpriced), only lasts 12 months, and doesnt have a market to be easily traded like cex. 

What a joke, those guys should just fold shop. Gig is up.

Be a Pioneer,
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Ends on Nov. 30, 2018
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May 12, 2014, 06:56:57 PM
 #2307

LOL did you guys see the news from cointerra.

They are now offering 1-2 year mining contracts.  12 month contract for 2TH cost $8000, which is 0.009 btc/gh (8000/440/2000).  That's 30% more expensive than cex.io (already overpriced), only lasts 12 months, and doesnt have a market to be easily traded like cex.  

What a joke, those guys should just fold shop. Gig is up.

Why not, hashfast seems to have declared bankruptcy after stealing all they could.

http://ia902509.us.archive.org/13/items/gov.uscourts.canb.522575/gov.uscourts.canb.522575.1.0.pdf

How far behind can crapterra, bfl, and vmc be? US manufacturers seem to be formed to do business just long enough to grab all they can before folding up shop.

Edit: It seems likely hashfast did not declare bankruptcy. That this filing is an involuntary bankruptcy filing from hashfast's creditors.

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May 12, 2014, 07:13:12 PM
 #2308

LOL did you guys see the news from cointerra.

They are now offering 1-2 year mining contracts.  12 month contract for 2TH cost $8000, which is 0.009 btc/gh (8000/440/2000).  That's 30% more expensive than cex.io (already overpriced), only lasts 12 months, and doesnt have a market to be easily traded like cex. 

What a joke, those guys should just fold shop. Gig is up.



yep.  they delivered underspec garbage for 6K.  the lawsuits are coming, and that will be the end of that....
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May 12, 2014, 07:40:09 PM
 #2309

LOL did you guys see the news from cointerra.

They are now offering 1-2 year mining contracts.  12 month contract for 2TH cost $8000, which is 0.009 btc/gh (8000/440/2000).  That's 30% more expensive than cex.io (already overpriced), only lasts 12 months, and doesnt have a market to be easily traded like cex. 

What a joke, those guys should just fold shop. Gig is up.



yep.  they delivered underspec garbage for 6K.  the lawsuits are coming, and that will be the end of that....


Class action I hope?
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May 12, 2014, 08:44:52 PM
 #2310

LOL did you guys see the news from cointerra.

They are now offering 1-2 year mining contracts.  12 month contract for 2TH cost $8000, which is 0.009 btc/gh (8000/440/2000).  That's 30% more expensive than cex.io (already overpriced), only lasts 12 months, and doesnt have a market to be easily traded like cex.  

What a joke, those guys should just fold shop. Gig is up.

Hey newguy

the 'gig' may not be quite so 'up' as there was something missing from your comparison.

cex.io doesn't just charge to buy the gh's.. they ALSO charge per month to host them for you (you have to pay extra for hosting, power, repairs, maintenance etc) and you neglected to mention this 'monthly' charge in your comparison.

cex.io's price doesn't include hosting (which is a major part of the cost if you're going to operate long-term and not just trade it).    cointerra's price was an all inclusive price including hosting for either 12 or 24 months whereas cex.io charges extra each month for the hosting (see  https://cex.io/maintenance  )

re-running your example again with 24 months to show the true (long-term) costs of bitcoin mining...

cex.io, 2 TH/s, buy price is 0.007 btc ($3.08 at today's btc price of $440) plus 24 months of hosting (currently $0.26/gh) = $9.32/gh (total paid for 24 month contract is $18,640)
cointerra 2 TH/s, buy price for 24 months - all inclusive of hosting - is $11,999 (a big saving over cex.io).  even if it was only for 12 months, cointerra is still cheaper than cex.io

but why stop at 2 TH/s...   we should try the same math for 100 TH/s (cointerra gives volume discounts, whereas cex.io being a 'true market' of buyers and sellers would mean the price goes up the more you buy and you'd be severely penalised for buying a larger amount)

cex.io, $308K to buy the 100 TH (in reality it'd cost much more to buy it this way), plus $26k per month in hosting for 24 months ($624k) = total of $932K (just shy of $1m!)
whereas cointerra's 100 TH hosted for 24 months is less than half the price at $450k (well under $0.5m!)

You can similarly compare the hosted prices of other cloud hashing companies like nimbusmining.com (butterflylabs) who charges $20/gh... or cloudhashing ($8-9/gh) compared to cex.io's $9.32 and cointerra's $6/gh (for 2 TH 24 mnth) or $4.5/gh (for 100 TH 24 mnth)
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May 12, 2014, 08:51:12 PM
 #2311

Lengthy crapterra cheer!

tl;dr

The other guys are even bigger scams.

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May 13, 2014, 05:09:49 AM
 #2312

LOL did you guys see the news from cointerra.

They are now offering 1-2 year mining contracts.  12 month contract for 2TH cost $8000, which is 0.009 btc/gh (8000/440/2000).  That's 30% more expensive than cex.io (already overpriced), only lasts 12 months, and doesnt have a market to be easily traded like cex. 

What a joke, those guys should just fold shop. Gig is up.

Hey newguy

the 'gig' may not be quite so 'up' as there was something missing from your comparison.

cex.io doesn't just charge to buy the gh's.. they ALSO charge per month to host them for you (you have to pay extra for hosting, power, repairs, maintenance etc) and you neglected to mention this 'monthly' charge in your comparison.

cex.io's price doesn't include hosting (which is a major part of the cost if you're going to operate long-term and not just trade it).    cointerra's price was an all inclusive price including hosting for either 12 or 24 months whereas cex.io charges extra each month for the hosting (see  https://cex.io/maintenance  )

re-running your example again with 24 months to show the true (long-term) costs of bitcoin mining...

cex.io, 2 TH/s, buy price is 0.007 btc ($3.08 at today's btc price of $440) plus 24 months of hosting (currently $0.26/gh) = $9.32/gh (total paid for 24 month contract is $18,640)
cointerra 2 TH/s, buy price for 24 months - all inclusive of hosting - is $11,999 (a big saving over cex.io).  even if it was only for 12 months, cointerra is still cheaper than cex.io

but why stop at 2 TH/s...   we should try the same math for 100 TH/s (cointerra gives volume discounts, whereas cex.io being a 'true market' of buyers and sellers would mean the price goes up the more you buy and you'd be severely penalised for buying a larger amount)

cex.io, $308K to buy the 100 TH (in reality it'd cost much more to buy it this way), plus $26k per month in hosting for 24 months ($624k) = total of $932K (just shy of $1m!)
whereas cointerra's 100 TH hosted for 24 months is less than half the price at $450k (well under $0.5m!)

You can similarly compare the hosted prices of other cloud hashing companies like nimbusmining.com (butterflylabs) who charges $20/gh... or cloudhashing ($8-9/gh) compared to cex.io's $9.32 and cointerra's $6/gh (for 2 TH 24 mnth) or $4.5/gh (for 100 TH 24 mnth)

You idiot, I paid $6000 for a crappy miner which broke just 3 weeks into mining and lost 2 weeks of mining. Then again after 10 days its broke again. Not to mention I lost 20% of hashing power as well with no compensation of any kind.

Do you really think anyone cares what you have to say after they have played with people's hard earned money?
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May 13, 2014, 05:09:19 PM
 #2313

IF anyone in California wants to join the Class Action Suit agiast CT plz  PM.
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May 13, 2014, 05:17:29 PM
 #2314

those garbage stole their customer and now sell them their plunder.
Disgusting.

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May 13, 2014, 08:31:53 PM
 #2315

LOL did you guys see the news from cointerra.

They are now offering 1-2 year mining contracts.  12 month contract for 2TH cost $8000, which is 0.009 btc/gh (8000/440/2000).  That's 30% more expensive than cex.io (already overpriced), only lasts 12 months, and doesnt have a market to be easily traded like cex.  

What a joke, those guys should just fold shop. Gig is up.

Hey newguy

the 'gig' may not be quite so 'up' as there was something missing from your comparison.

cex.io doesn't just charge to buy the gh's.. they ALSO charge per month to host them for you (you have to pay extra for hosting, power, repairs, maintenance etc) and you neglected to mention this 'monthly' charge in your comparison.

cex.io's price doesn't include hosting (which is a major part of the cost if you're going to operate long-term and not just trade it).    cointerra's price was an all inclusive price including hosting for either 12 or 24 months whereas cex.io charges extra each month for the hosting (see  https://cex.io/maintenance  )

re-running your example again with 24 months to show the true (long-term) costs of bitcoin mining...

cex.io, 2 TH/s, buy price is 0.007 btc ($3.08 at today's btc price of $440) plus 24 months of hosting (currently $0.26/gh) = $9.32/gh (total paid for 24 month contract is $18,640)
cointerra 2 TH/s, buy price for 24 months - all inclusive of hosting - is $11,999 (a big saving over cex.io).  even if it was only for 12 months, cointerra is still cheaper than cex.io

but why stop at 2 TH/s...   we should try the same math for 100 TH/s (cointerra gives volume discounts, whereas cex.io being a 'true market' of buyers and sellers would mean the price goes up the more you buy and you'd be severely penalised for buying a larger amount)

cex.io, $308K to buy the 100 TH (in reality it'd cost much more to buy it this way), plus $26k per month in hosting for 24 months ($624k) = total of $932K (just shy of $1m!)
whereas cointerra's 100 TH hosted for 24 months is less than half the price at $450k (well under $0.5m!)

You can similarly compare the hosted prices of other cloud hashing companies like nimbusmining.com (butterflylabs) who charges $20/gh... or cloudhashing ($8-9/gh) compared to cex.io's $9.32 and cointerra's $6/gh (for 2 TH 24 mnth) or $4.5/gh (for 100 TH 24 mnth)

You are correct cex charges a 30% maintenance cost, but if you think cointerra will let you mine free for 2 years after the initial one-time payment i have a bridge in my backyard to sell to you.

Even with this assumption - $0 electricity/maintenance, 2TH, 24 months, and $12000 one time payment. The difficulty increase has to be at an average of 5% only just to breakeven. Anything higher you will lose money, if you believe going forward we will have average of 5% increase per, i have another bridge in my backyard for you...

Another key advantage of cex is the ability to trade on a whim, cointerrra does not allow you to trade at all.

There is no upside, just a lose lose situation with significant counterparty risk - you are in hope/pray mode cointerra doesnt go out of business for 2 years AND they will honor your contract for free mining/electricity for 2 years.

To be clear i am not advocating to buy cex shares, they are also overpriced ( i was buying when fhm was at 0.004, not the current price).  But if you are looking to throw away bitcoins, cex is by far the better bet.


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Puppet
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May 14, 2014, 10:25:51 AM
 #2316

Even with this assumption - $0 electricity/maintenance, 2TH, 24 months, and $12000 one time payment. The difficulty increase has to be at an average of 5% only just to breakeven. Anything higher you will lose money, if you believe going forward we will have average of 5% increase per, i have another bridge in my backyard for you...

Actually, an average of 5% per difficulty adjustment (assuming that is what you meant) for the next two years is extremely unlikely at todays price. That would mean difficulty in two years would be more than 100x higher than today rendering even the most power efficient machines operationally unprofitable for almost anyone. Of course the last ~18 months of that 24 month contract dont really matter, and during the first 6 months it will be well above 5%, so you wont hear me saying this is a sound investment, but on average difficulty adjustment over that period of time will be FAR below 5%, assuming constant BTC price. So how much do you want for that bridge?
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May 14, 2014, 02:38:09 PM
 #2317

I am so boared with the whole Cointerra- Terramine Hosting ( it is the same CEO ).

I am waiting for refund now over 5 months even if I made a storno and deleted my order before the money arrived at their banc account.

They are holding me online since 4 months. No refund moral.

I paid with Fiat and I although gave them the possibiltie to pay in BTC.

Heard nothing anymore since two weeks.

Exhausting and I think I take an american lawyer for this issue.

Anybody such bad experiences with them too?

greetings

Pentax
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May 14, 2014, 04:34:57 PM
 #2318

I am so boared with the whole Cointerra- Terramine Hosting ( it is the same CEO ).

I am waiting for refund now over 5 months even if I made a storno and deleted my order before the money arrived at their banc account.

They are holding me online since 4 months. No refund moral.

I paid with Fiat and I although gave them the possibiltie to pay in BTC.

Heard nothing anymore since two weeks.

Exhausting and I think I take an american lawyer for this issue.

Anybody such bad experiences with them too?

greetings

w

file a complaint with the better business bureau

BBB serving Central, Coastal, Southwest Texas & Permian Basin
1005 La Posada Drive
Austin, TX 78752
Phone: 512 445 2911
Fax: 512 445 2096
Email: info@centraltx.bbb.org
Specialkey
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May 14, 2014, 04:40:50 PM
 #2319

I am so boared with the whole Cointerra- Terramine Hosting ( it is the same CEO ).

I am waiting for refund now over 5 months even if I made a storno and deleted my order before the money arrived at their banc account.

They are holding me online since 4 months. No refund moral.

I paid with Fiat and I although gave them the possibiltie to pay in BTC.

Heard nothing anymore since two weeks.

Exhausting and I think I take an american lawyer for this issue.

Anybody such bad experiences with them too?

greetings

w

file a complaint with the better business bureau

BBB serving Central, Coastal, Southwest Texas & Permian Basin
1005 La Posada Drive
Austin, TX 78752
Phone: 512 445 2911
Fax: 512 445 2096
Email: info@centraltx.bbb.org

Thx for information. I will try.
ProfMac
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May 14, 2014, 05:20:42 PM
 #2320


file a complaint with the better business bureau

BBB serving Central, Coastal, Southwest Texas & Permian Basin
1005 La Posada Drive
Austin, TX 78752
Phone: 512 445 2911
Fax: 512 445 2096
Email: info@centraltx.bbb.org

That is less than 2 miles from my house.

I try to be respectful and informed.
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