CoinTerra announces its first ASIC - Hash-Rate greater than 500 GH/s

[dtuur]

I'm suspicious of Cointerra. They are entering a market of consumers who have been fucked and misled by every ASIC mining company. Why are they any different than anyone else? All these companies have proven to be motivated by the dream of printing money, just as much as their consumers are motivated to throw money at them to finance their dreams, and then never get their product. So, big deal, Cointerra has access to better technology, does this mean we should automatically assume they will run a more honest business? You can talk all you want about business models that favor the consumer, while you plan on taking pre-orders, and plan on delivering late because you do what every other mining company has done: massive delays without any real excuse, misleading consumers, etc. At what point should we assume you are anymore honest than they were?

Another concern is the fact that you have only announced one product, over .5 TH. How is that good for the market? It will most probably be too expensive for entry level miners. See, that is proof that you don't care about what will make the real Bitcoin market strong, and that is the small people.

I hope I'm wrong.

I've been in talks with Ravi and his team since the San Jose conference. When considering an investment, probing the integrity of the people involved is an important part of my investigation - long lasting business success in a non-protected market just doesn't grow on dishonest soil.

All my findings have confirmed my initial impression that this is a group of ethical and extremely skilled people that have the vision to help shape a completely new industry - that of crypto currency transaction clearing. This idea is very exciting to me, which is why I decided to become an angel investor.     

Tuur Demeester

[deadgiveaway]

I'm suspicious of Cointerra. They are entering a market of consumers who have been fucked and misled by every ASIC mining company. Why are they any different than anyone else? All these companies have proven to be motivated by the dream of printing money, just as much as their consumers are motivated to throw money at them to finance their dreams, and then never get their product. So, big deal, Cointerra has access to better technology, does this mean we should automatically assume they will run a more honest business? You can talk all you want about business models that favor the consumer, while you plan on taking pre-orders, and plan on delivering late because you do what every other mining company has done: massive delays without any real excuse, misleading consumers, etc. At what point should we assume you are anymore honest than they were?

Another concern is the fact that you have only announced one product, over .5 TH. How is that good for the market? It will most probably be too expensive for entry level miners. See, that is proof that you don't care about what will make the real Bitcoin market strong, and that is the small people.

I hope I'm wrong.

I've been in talks with Ravi and his team since the San Jose conference. When considering an investment, probing the integrity of the people involved is an important part of my investigation - long lasting business success in a non-protected market just doesn't grow on dishonest soil.

All my findings have confirmed my initial impression that this is a group of ethical and extremely skilled people that have the vision to help shape a completely new industry - that of crypto currency transaction clearing. This idea is very exciting to me, which is why I decided to become an angel investor.      

Tuur Demeester

Well I hope you get what you're looking for out of your investment. Are we allowed to know any specific details? (I assume not) I'm curious if you get access to cheaper products/discounts, or other perks.

[Bitcoinorama]

I'm suspicious of Cointerra. They are entering a market of consumers who have been fucked and misled by every ASIC mining company. Why are they any different than anyone else? All these companies have proven to be motivated by the dream of printing money, just as much as their consumers are motivated to throw money at them to finance their dreams, and then never get their product. So, big deal, Cointerra has access to better technology, does this mean we should automatically assume they will run a more honest business? You can talk all you want about business models that favor the consumer, while you plan on taking pre-orders, and plan on delivering late because you do what every other mining company has done: massive delays without any real excuse, misleading consumers, etc. At what point should we assume you are anymore honest than they were?

Another concern is the fact that you have only announced one product, over .5 TH. How is that good for the market? It will most probably be too expensive for entry level miners. See, that is proof that you don't care about what will make the real Bitcoin market strong, and that is the small people.

I hope I'm wrong.

I've been in talks with Ravi and his team since the San Jose conference. When considering an investment, probing the integrity of the people involved is an important part of my investigation - long lasting business success in a non-protected market just doesn't grow on dishonest soil.

All my findings have confirmed my initial impression that this is a group of ethical and extremely skilled people that have the vision to help shape a completely new industry - that of crypto currency transaction clearing. This idea is very exciting to me, which is why I decided to become an angel investor.     

Tuur Demeester

Hi Tuur, when you state 'completely new industry' of crypto currency transaction clearing, do you just mean ASIC mining devices, or something more exotic w.r.t. purchasing and mainstream accepence?

[crumbs]

...Hi Tuur, when you state 'completely new industry' of crypto currency transaction clearing, do you just mean ASIC mining devices, or something more exotic w.r.t. purchasing and mainstream accepence?

"Our mission is to become a reliable and trusted node for transaction clearing on a stable and flourishing Bitcoin network." Cointerra website marketing filler, if this helps.  Caught my eye too

[dtuur]

Well I hope you get what you're looking for out of your investment. Are we allowed to know any specific details? (I assume not) I'm curious if you get access to cheaper products/discounts, or other perks.

The perk for the angel is that if the value of the company goes up, so does the value of your investment. I'm sorry, I can't release any specific details.

[dtuur]

Hi Tuur, when you state 'completely new industry' of crypto currency transaction clearing, do you just mean ASIC mining devices, or something more exotic w.r.t. purchasing and mainstream accepence?

Pushing Bitcoin mining forward with ASIC technology is exotic enough to me :-)

[deadgiveaway]

I'm suspicious of Cointerra. They are entering a market of consumers who have been fucked and misled by every ASIC mining company. Why are they any different than anyone else? All these companies have proven to be motivated by the dream of printing money, just as much as their consumers are motivated to throw money at them to finance their dreams, and then never get their product. So, big deal, Cointerra has access to better technology, does this mean we should automatically assume they will run a more honest business? You can talk all you want about business models that favor the consumer, while you plan on taking pre-orders, and plan on delivering late because you do what every other mining company has done: massive delays without any real excuse, misleading consumers, etc. At what point should we assume you are anymore honest than they were?

Another concern is the fact that you have only announced one product, over .5 TH. How is that good for the market? It will most probably be too expensive for entry level miners. See, that is proof that you don't care about what will make the real Bitcoin market strong, and that is the small people.

I hope I'm wrong.

I've been in talks with Ravi and his team since the San Jose conference. When considering an investment, probing the integrity of the people involved is an important part of my investigation - long lasting business success in a non-protected market just doesn't grow on dishonest soil.

All my findings have confirmed my initial impression that this is a group of ethical and extremely skilled people that have the vision to help shape a completely new industry - that of crypto currency transaction clearing. This idea is very exciting to me, which is why I decided to become an angel investor.      

Tuur Demeester

Hi Tuur, when you state 'completely new industry' of crypto currency transaction clearing, do you just mean ASIC mining devices, or something more exotic w.r.t. purchasing and mainstream accepence?

It would be great if the mainstream could get their hands on mining machines and get excited about this currency. Especially in this fucked up economy. Excitement will drive the price up, and that will sustain ROI more than anything. This is crucial is Bitcoin is going to prevail, rather than flop. Cointerra, you have the future of the world resting on your shoulders. Good luck.

[2112]

That is outdated. We do NOT plan to mine. We only plan retail sales.

All my findings have confirmed my initial impression that this is a group of ethical and extremely skilled people that have the vision to help shape a completely new industry - that of crypto currency transaction clearing.

Something or somebody doesn't check out in this thread. "Clearing cryptocurrency transactions" without mining?

"Our mission is to become a reliable and trusted node for transaction clearing on a stable and flourishing Bitcoin network." Cointerra website marketing filler, if this helps.  Caught my eye too

Again something doesn't check out. How they want to "become a reliable and trusted node" without mining?

[superduh]

head - > explode

[dogie]

LOL you better hope its less than 1W/GH, have fun cooling 500W from a single chip.

[Anenome5]

beside the preorders facts, i ve got a presentation from cointerra where they only shows their interests in mining for themselves and not only selling miners

what is your exact plan?

i ve got a ppt presentation where all this is detailled →i can put it online if someone needs it

That is outdated. We do NOT plan to mine. We only plan retail sales.

Because they figured out where the least risky money was to be made :\ On dupes who can't see where the difficulty is going.

Cointerra appears to be too late to the party. If KNC ships, they're largely screwed. High efficiency is a luxury only if the device can achieve positive ROI in the first place, efficiency then extends its life against electrical costs. I don't think a device shipping in Jan '14 with these stats can achieve positive ROI unless it's less than $2k, and then that's hardly any profit for the manufacturer so why are they bothering.

Late, late, for a very important date.

[deadgiveaway]

beside the preorders facts, i ve got a presentation from cointerra where they only shows their interests in mining for themselves and not only selling miners

what is your exact plan?

i ve got a ppt presentation where all this is detailled →i can put it online if someone needs it

That is outdated. We do NOT plan to mine. We only plan retail sales.

Because they figured out where the least risky money was to be made :\ On dupes who can't see where the difficulty is going.

Cointerra appears to be too late to the party. If KNC ships, they're largely screwed. High efficiency is a luxury only if the device can achieve positive ROI in the first place, efficiency then extends its life against electrical costs. I don't think a device shipping in Jan '14 with these stats can achieve positive ROI unless it's less than $2k, and then that's hardly any profit for the manufacturer so why are they bothering.

Late, late, for a very important date.

They're not screwed at all. They're going to get financing for their chips from the public, then they are going to mine the shit out of Bitcoin. Smart if you ask me.

[Ytterbium]

Because they figured out where the least risky money was to be made :\ On dupes who can't see where the difficulty is going.

Cointerra appears to be too late to the party. If KNC ships, they're largely screwed. High efficiency is a luxury only if the device can achieve positive ROI in the first place, efficiency then extends its life against electrical costs. I don't think a device shipping in Jan '14 with these stats can achieve positive ROI unless it's less than $2k, and then that's hardly any profit for the manufacturer so why are they bothering.

Late, late, for a very important date.

If KnC ships, HashFast customers are screwed.
If HashFast ships, then Cointerra customers are screwed. 

The only way they can make a profit is by going for extremely high volume.

If they charge $1000 for 500Gh/s anyone interested in mining will basically have no choice but to buy.  They sell 3,000 units, that's $3 million dollars, and 1.5Ph/s added to the network.

And if you think about it, there's probably no reason they can't charge prices like that.  An Intel celeron chip is fab'd at 22nm and only cost $50, for example.

[seriouscoin]

Because they figured out where the least risky money was to be made :\ On dupes who can't see where the difficulty is going.

Cointerra appears to be too late to the party. If KNC ships, they're largely screwed. High efficiency is a luxury only if the device can achieve positive ROI in the first place, efficiency then extends its life against electrical costs. I don't think a device shipping in Jan '14 with these stats can achieve positive ROI unless it's less than $2k, and then that's hardly any profit for the manufacturer so why are they bothering.

Late, late, for a very important date.

If KnC ships, HashFast customers are screwed.
If HashFast ships, then Cointerra customers are screwed. 

The only way they can make a profit is by going for extremely high volume.

If they charge $1000 for 500Gh/s anyone interested in mining will basically have no choice but to buy.  They sell 3,000 units, that's $3 million dollars, and 1.5Ph/s added to the network.

And if you think about it, there's probably no reason they can't charge prices like that.  An Intel celeron chip is fab'd at 22nm and only cost $50, for example.

God.... i have to reply to this idiot....

Comparing billion dollard revenue to few million dollards revenue...... what a genius.


There is a reason why Intel's cost is $50/chip idiot.

[Loredo]

God.... i have to reply to this idiot....
Comparing billion dollard revenue to few million dollards revenue...... what a genius.
There is a reason why Intel's cost is $50/chip idiot.

You know, even if English isn't your first language...the spell checker is in English...so:

If you're going to engage in ad hominem attacks on somebody, you look way more credible, and invite way less attention, if you don't spell words like "dollar" wrong.

Just sayin...

[Ytterbium]

God.... i have to reply to this idiot....

Comparing billion dollard revenue to few million dollards revenue...... what a genius.


There is a reason why Intel's cost is $50/chip idiot.

At least I know how to spell "dollar".  

I wasn't saying Cointerra could sell their chip for $50, only that they could probably sell it for less then $1000 if they had enough volume.

[klee]

Because they figured out where the least risky money was to be made :\ On dupes who can't see where the difficulty is going.

Cointerra appears to be too late to the party. If KNC ships, they're largely screwed. High efficiency is a luxury only if the device can achieve positive ROI in the first place, efficiency then extends its life against electrical costs. I don't think a device shipping in Jan '14 with these stats can achieve positive ROI unless it's less than $2k, and then that's hardly any profit for the manufacturer so why are they bothering.

Late, late, for a very important date.

If KnC ships, HashFast customers are screwed.
If HashFast ships, then Cointerra customers are screwed.  

The only way they can make a profit is by going for extremely high volume.

If they charge $1000 for 500Gh/s anyone interested in mining will basically have no choice but to buy.  They sell 3,000 units, that's $3 million dollars, and 1.5Ph/s added to the network.

And if you think about it, there's probably no reason they can't charge prices like that.  An Intel celeron chip is fab'd at 22nm and only cost $50, for example.

And not to mention non-28nm competitors flooding the market (Bitfury, Labcoin, BTCGarden, Active Mining, ASICMiner, Avalon, BFL, the guys from UK...)!

EDIT: Guys from UK=xCrowd

[crumbs]

...
If KnC ships, HashFast customers are screwed.
If HashFast ships, then Cointerra customers are screwed. 

The only way they can make a profit is by going for extremely high volume.
...

+1
If none of them ship, all the customers are screwed.
If *all* of them ship, all the customers are screwed too! 

The only meaningful win:
The horse you back wins, the others drop out of the race. 

[WastedLTC]

...
If KnC ships, HashFast customers are screwed.
If HashFast ships, then Cointerra customers are screwed. 

The only way they can make a profit is by going for extremely high volume.
...

+1
If none of them ship, all the customers are screwed.
If *all* of them ship, all the customers are screwed too! 

The only meaningful win:
The horse you back wins, the others drop out of the race. 

What we need is BTC to go above 200 again!   

[MikeMike]

...
If KnC ships, HashFast customers are screwed.
If HashFast ships, then Cointerra customers are screwed. 

The only way they can make a profit is by going for extremely high volume.
...

+1
If none of them ship, all the customers are screwed.
If *all* of them ship, all the customers are screwed too! 

The only meaningful win:
The horse you back wins, the others drop out of the race. 

What we need is BTC to go above 200 again!   

Exactly.
It has to otherwise the entire concept does not work.