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

[Anenome5]

eve is a retard and should die.

just ignore him. see his glowing yellow ignore button?

Does the ignore button become highlighted as more people ignore 'said' person?  With that being said, isn't even not even real??? Its always a repeated message that never has anything positive to say...sum bullshit like "show me the chips!!!!"

Lol, yes, the ignore button lights up as others ignore them.

[Pinwheel]

Cointerra is little different than Hashfast and KncMiner in that they're selling a high end mining product that has performance higher than those that have come before at a lower price per GH. 

Unfortunately high performance is not going to give much of advancement against Russian Bitfury, because of cheap power cost in Russia --- USD 0.025 per kvh

Please source your claim of .025 per kwh..

https://estore.enerdata.net/power-market/russia-electricity-report.html

According to this study: "The electricity price is controlled by the State. In 2011, the average price reached US$11c/kWh for households and US$6.7c/kWh for industry, showing a strong increase compared to 2010."

my source is private, and I do not have any reason do not trust him. calculations made according to current USD/RUB rate and his electricity bill. East Siberian region.

[testerx]

OK maybe I've lost my mine but I'm seriously considering a wire transfer today split with a few other people lol.  In retrospect I should have ordered more hardware last year instead of buying these future miners now but oh well.

[sirky]

I just preordered one, mainly because the principals of this company seem the most legitimate to me.

I feel very comfortable that there will be profit to be made here, despite the claims by people of one trillion difficulty (or more) by the end of 2013.

[cedivad]

I just preordered one, mainly because the principals of this company seem the most legitimate to me.

This is the only reason that keeps cointerra alive.

[console_cowboy]

I just preordered one, mainly because the principals of this company seem the most legitimate to me.

I feel very comfortable that there will be profit to be made here, despite the claims by people of one trillion difficulty (or more) by the end of 2013.

Out of curiosity, what particular principle do you feel that cointerra embodies that makes them so legitimate? I have read a good bit of their marketing materials too, and do not see how their lofty ambitions actually match company practices. They have excellent PR, but what does this PR really mean? Has BitSynCom and BFL really lowered the ball for principles in bitcoin mining so low that the first person to spout rhetoric doesn't have to back it up with proof first? I seem to remember BitSynCom had quite a bit of good rhetoric, community support, and seeming good will until the Avalon chip deal went up in flames.

I am not so quick to trust someone just due to pretty words. So far only a few small PCB makers seem to legitimately have principles. I'll put Cointerra in the same grouping when I see some action to back up the words.   

[Stinky_Pete]

I just preordered one, mainly because the principals of this company seem the most legitimate to me.

I feel very comfortable that there will be profit to be made here, despite the claims by people of one trillion difficulty (or more) by the end of 2013.

Out of curiosity, what particular principle do you feel that cointerra embodies that makes them so legitimate? I have read a good bit of their marketing materials too, and do not see how their lofty ambitions actually match company practices. They have excellent PR, but what does this PR really mean? Has BitSynCom and BFL really lowered the ball for principles in bitcoin mining so low that the first person to spout rhetoric doesn't have to back it up with proof first? I seem to remember BitSynCom had quite a bit of good rhetoric, community support, and seeming good will until the Avalon chip deal went up in flames.

I am not so quick to trust someone just due to pretty words. So far only a few small PCB makers seem to legitimately have principles. I'll put Cointerra in the same grouping when I see some action to back up the words.   

I hope we are not confusing 'principals' with 'principles' here. They have very different meanings.

[aerobatic]

I just preordered one, mainly because the principals of this company seem the most legitimate to me.

I feel very comfortable that there will be profit to be made here, despite the claims by people of one trillion difficulty (or more) by the end of 2013.

There is ZERO CHANCE that difficulty will be 1 trillion by end of 2013.  there's a slim chance it might get to 1 billion but even that is a stretch, but definitely not 1 trillion!

its unlikely to get 1 trillion by end of 2014 either.  that would be an insanely unrealistic expectation.

Difficulty of 1 trillion is 7,000 Petahashes of network performance!  (aka 7 Exahashes).  the cfhance of the network being 8,000 times more power than today in just over a year seems far fetched.

[Carlton Banks]

Cointerra do look a bit shark jump-ish. Turning up last to the party, charging the same $/GH/s value as Avalon Batch 1 and also still not accepting BTC payment. This is not something I would expect well informed BTC community members to buy, the whole ethos is reminiscent of what BFL thought they were going for (shiny boxes photography, LinkedIn respectability badges, press testimonials, top-drawer highest quality ultra power efficiency winner blah blah blah)

Long on marketing, short on anything approaching tangible

[aerobatic]

Cointerra do look a bit shark jump-ish. Turning up last to the party, charging the same $/GH/s value as Avalon Batch 1 and also still not accepting BTC payment. This is not something I would expect well informed BTC community members to buy, the whole ethos is reminiscent of what BFL thought they were going for (shiny boxes photography, press testimonials, top-drawer highest quality ultra power efficiency winner blah blah blah)

at least get your facts right... Cointerra do accept bitcoin.  its on their web site!

there's a heap of difference between bfl and cointerra.  one of those companies actually employs asic designers and its ceo is also one.  there's no comparison!

[creativex]

I like CoinTerra and generally find them to be credible. I do not like the insanely risky pre-order model that encourages investors to make poor decisions based on murky calculations about future profitability. The pre-order model would die a quick death if people would stop feeding it...then we could get vendors that were willing to shoulder some of the risk themselves.

[aerobatic]

I like CoinTerra and generally find them to be credible. I do not like the insanely risky pre-order model that encourages investors to make poor decisions based on murky calculations about future profitability. The pre-order model would die a quick death if people would stop feeding it...then we could get vendors that were willing to shoulder some of the risk themselves.

theres really two models that make sense for a new asic company :-

1.  the equity investment model.  ie: investors buy equity in the asic company.  said company then has all the funds it needs to cover the NRE (non recurring engineering fees) and start production.   Most likely, once the company can afford to make its own asics then it will go directly into mining with them, which is the most profitable use for them.   There's no reason for the company to sell its asics if it could make more money just mining with them.

2.  the pre-sales model.  instead of equity investors, the company takes pre-orders.  Those pre-orders are effectively crowdsourcing the funds required to start production.  That way, the company's production will be sold to its customers.  Since the company is focussed on crowdsourcing to raise its production costs, the customer is able to buy miners at a lower price, than if the company could afford to be mining with the hardware instead of selling it.

there may be some hybrid models too.

the pre-order system will probably remain for the forseeable future until such time as customers stop pre-ordering.  when that happens, the only asic mining companies will be those that make the asics purely for themselves, and only sell them to the public when they can make more at retail than they can mining themselves (asicminer for instance).

[Carlton Banks]

Cointerra do look a bit shark jump-ish. Turning up last to the party, charging the same $/GH/s value as Avalon Batch 1 and also still not accepting BTC payment. This is not something I would expect well informed BTC community members to buy, the whole ethos is reminiscent of what BFL thought they were going for (shiny boxes photography, press testimonials, top-drawer highest quality ultra power efficiency winner blah blah blah)

at least get your facts right... Cointerra do accept bitcoin.  its on their web site!

there's a heap of difference between bfl and cointerra.  one of those companies actually employs asic designers and its ceo is also one.  there's no comparison!

Accept my apologies, it appears that if you add an item to your shopping cart and go to checkout, the Bitpay option appears. Nowhere else before these steps does it occur, however. Still makes me feel they're a bit disconnected from the ecosystem, at least within their glossy marketing. Placing their (only) payment processing partner at least somewhere else on the site for the interested buyers to see would seem like part of the information that a potential customer would like.

[cointerra]

Cointerra's shipping prices on their website make no goddamn sense.  Why is it $194 to ship one 27 pound box via UPS ground, but then this skyrockets to $577 for two units?  If it's cheaper to ship them separately then just ship them separately.  Right now you're better off buying the units separately, wtf?

Thanks for bringing this to our attention.

This was an issue with the UPS API that has now been solved. The problem occurred when people placed orders for more than one TerraMiner.

We've gone through our order list to make sure nobody paid too much. We are not flawless, so if you think you may have been overcharged on your order, send us an email and we'll look into it.

[console_cowboy]

I just preordered one, mainly because the principals of this company seem the most legitimate to me.

I feel very comfortable that there will be profit to be made here, despite the claims by people of one trillion difficulty (or more) by the end of 2013.

Out of curiosity, what particular principle do you feel that cointerra embodies that makes them so legitimate? I have read a good bit of their marketing materials too, and do not see how their lofty ambitions actually match company practices. They have excellent PR, but what does this PR really mean? Has BitSynCom and BFL really lowered the ball for principles in bitcoin mining so low that the first person to spout rhetoric doesn't have to back it up with proof first? I seem to remember BitSynCom had quite a bit of good rhetoric, community support, and seeming good will until the Avalon chip deal went up in flames.

I am not so quick to trust someone just due to pretty words. So far only a few small PCB makers seem to legitimately have principles. I'll put Cointerra in the same grouping when I see some action to back up the words.   

I hope we are not confusing 'principals' with 'principles' here. They have very different meanings.

Well unless the first poster was talking about how much capital cointerra has to work with, I think they used the wrong word. Talking about values is "principle". I didn't want to go all grammer nazi though earlier...

[Epoch]

I didn't want to go all grammer nazi though earlier...

Maybe not grammar nazi, but spelling at least.

On a more serious note, I'll agree that CoinTerra has more impressive marketing material than most of their peers, but is there any 'meat' anyone can link me to? Where are they at in terms of schedule? Are they still on track? Did they pass tape-out yet? When are their first wafers expected? What does their PCB look like? Are they using air or water cooling? Will they rely on a host controller (such as USB-connected PC) or will they be using their own integrated controller such as an rPi?

I'm late to this party, but the details coming out of the CoinTerra camp seem to be quite sparse. Details which should have been long ironed out and committed to. I'd like to know how far along they are and if their December target is still viable. Competitors like BitFury and BFL have been posting board layouts, actual PCB pictures, enclosure pics, etc. all along. I'd expect CoinTerra to have these available as well, but have they disclosed any of this yet?

Does anyone know anything beyond the little that can be gleemed from their website? Someone asked me if they are legit ... I wasn't sure how to answer that.

[console_cowboy]

I didn't want to go all grammer nazi though earlier...

Maybe not grammar nazi, but spelling at least.

On a more serious note, I'll agree that CoinTerra has more impressive marketing material than most of their peers, but is there any 'meat' anyone can link me to? Where are they at in terms of schedule? Are they still on track? Did they pass tape-out yet? When are their first wafers expected? What does their PCB look like? Are they using air or water cooling? Will they relay on a host controller (such as USB-connected PC) or will they be using their own integrated controller such as an rPi?

I'm late to this party, but the details coming out of the CoinTerra camp seem to be quite sparse. Details which they should have long been ironed out and committed to. I'd like to know how far along they are and if their December target is still viable. Competitors like BitFury and BFL have been posting board schematics, actual PCB pictures, enclosure pics, etc. all along. I'd expect CoinTerra to have these available as well, but have they disclosed any of this yet?

Does anyone know anything beyond the little that can be gleemed from their website?

They have a photoshopped picture of an intel chip so far...

I mostly find it strange they publish so much marketing material, but nothing of substance. At the same time, they say that the whole team is full of technical experts. I find it strange how the flow of marketing material doesn't seem to match the team they have. Not to mention their recent price drop, which tells us they are certainly placing the price as high as the market can handle.

[Unacceptable]

Well,without an "entry level" priced device,I won't be able to even think about thier products 

$13,000 is not "entry level",$1,000-$2,000 is........................

Even KnC dropped thier lowest price model 

Only those well funded types will be able to mine soon 

[crumbs]

Yep.  This is the all-pro bitcoin future.
The bankers are dead.  Long live the bankers!
I, for one, welcome our new ASIC overlords.
Thanks to everyone who made it possible -- ur pre-order monyz paid for this.

[Carlton Banks]

Does anyone know anything beyond the little that can be gleemed from their website?

They have a photoshopped picture of an intel chip so far...

I spotted that too, it was pretty blatant. I think the image has been removed their promotional material, but it's only more evidence of which kind of customer Cointerra are pitching this to.

Ironically, I think the plan is to have the chips designed to use that large a die area, which, as I analysed in a previous post in this thread, is asking for trouble in with keeping fabrication costs low. This company has a strange strategy overall.