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

[plato14]

nevermind then i guess..
i deleted my post after i realized the site was working, and then got jumped on
nice way of shitting up the thread, go us..

LOL. Classic.


Are they shipping?

I think they are shipping really really soon, we are getting down to the wire here

[CanadianGuy]

i wonder if its possible this poor canadian can get his January order by the 20th...
or is that very wishful thinking

[plato14]

i wonder if its possible this poor canadian can get his January order by the 20th...
or is that very wishful thinking

Ask them and let this poor american know because I'm on the same boat

[Minor Miner]

what is the deal with the 20th?

Ignore this person canadianguy since he admitted that he was paid by zumzero (most likely ken slaughter) to pretend that he had received an ASIC made by some AMC/VMC.   I say mostly likely ken slaughter because it is strange to me how a "ceo" of a company that monitors his company's thread does not come out and deny an outright lie about shipping.

[CanadianGuy]

what is the deal with the 20th?

Ignore this person canadianguy since he admitted that he was paid by zumzero (most likely ken slaughter) to pretend that he had received an ASIC made by some AMC/VMC.   I say mostly likely ken slaughter because it is strange to me how a "ceo" of a company that monitors his company's thread does not come out and deny an outright lie about shipping.

Okay, that's great.. but what does this have anything to do with my inquiry? 

[Minor Miner]

what is the deal with the 20th?

Ignore this person canadianguy since he admitted that he was paid by zumzero (most likely ken slaughter) to pretend that he had received an ASIC made by some AMC/VMC.   I say mostly likely ken slaughter because it is strange to me how a "ceo" of a company that monitors his company's thread does not come out and deny an outright lie about shipping.

Okay, that's great.. but what does this have anything to do with my inquiry? 

Unless you are also an idiot to go along with you being a paid liar (admitted by yourself), you should be able to figure out what it means.   I cannot believe that gmaxwell has not banned you from the forum but everyone else should be aware that you tried to help perpetuate a fraud.

[CanadianGuy]

what is the deal with the 20th?

Ignore this person canadianguy since he admitted that he was paid by zumzero (most likely ken slaughter) to pretend that he had received an ASIC made by some AMC/VMC.   I say mostly likely ken slaughter because it is strange to me how a "ceo" of a company that monitors his company's thread does not come out and deny an outright lie about shipping.

Okay, that's great.. but what does this have anything to do with my inquiry? 

Unless you are also an idiot to go along with you being a paid liar (admitted by yourself), you should be able to figure out what it means.   I cannot believe that gmaxwell has not banned you from the forum but everyone else should be aware that you tried to help perpetuate a fraud.

i still have no idea what this has to with me asking of cointerra machines have shipped.  Please explain..

[CanadianGuy]

If I was trying to profit from this thread in some way I could understand the relevance.. but even if I was a murderer or a rapist, it has nothing to do with asking when I'm going to receive my cointerra machine

[plato14]

difficulty is going through the roof right now

[aerobatic]

difficulty is going through the roof right now

while its true that difficulty is going up... it has actually slowed down, and thats a natural consequence of the number being so high that its becoming harder and harder to double every month like it has been for the last few months.  i don't expect it to keep doubling every month this year... it may do once or twice more, but i think the days of doubling are hopefully almost over...

AND.. if you do the math on how much each GH costs... AND how much power is being used.. there are upper limits on how many GH's we can have, and it will most likely be a lot lower than the mining forecast web apps are predicting for the end of 2014 (as they just double each month for 12 months.. which is extremely unlikely and impossible to achieve)

-- Jez

[plato14]

difficulty is going through the roof right now

while its true that difficulty is going up... it has actually slowed down, and thats a natural consequence of the number being so high that its becoming harder and harder to double every month like it has been for the last few months.  i don't expect it to keep doubling every month this year... it may do once or twice more, but i think the days of doubling are hopefully almost over...

AND.. if you do the math on how much each GH costs... AND how much power is being used.. there are upper limits on how many GH's we can have, and it will most likely be a lot lower than the mining forecast web apps are predicting for the end of 2014 (as they just double each month for 12 months.. which is extremely unlikely and impossible to achieve)

-- Jez

I agree to a certain extent, but i think that the mining infrastructure has plenty of room to grow and if the price keeps increasing that gives people more incentive to buy mining hardware than to buy bitcoin, also i think we are going to see more large-scale miners getting in the game this year,  these things will keep driving the difficulty this year. 

One good thing that i am noticing is that cointerra is the best bet right now, hashfast seems to be imploding on itself looks like there will be a lawsuit, and although i feel for them they are in direct competition with us. 

[CanadianGuy]

I hope cointerra realizes that the rig could be exposed to temperatures far below 0 during transportation through cold regions.  I'm worried about the freezing point of their cooling liquid... Is this taken into account for up ~ -40 celcius? 

[newguy05]

difficulty is going through the roof right now

while its true that difficulty is going up... it has actually slowed down, and thats a natural consequence of the number being so high that its becoming harder and harder to double every month like it has been for the last few months.  i don't expect it to keep doubling every month this year... it may do once or twice more, but i think the days of doubling are hopefully almost over...

AND.. if you do the math on how much each GH costs... AND how much power is being used.. there are upper limits on how many GH's we can have, and it will most likely be a lot lower than the mining forecast web apps are predicting for the end of 2014 (as they just double each month for 12 months.. which is extremely unlikely and impossible to achieve)

-- Jez

difficulty will only stop doubling when there is no money left to be made in hardware, ie: hw manufacturing cost basis = price the market is willing to pay.  Currently take the best example - 180GH antminer is going for around 3 btc = $3000, it cost them <$300 at max to make those things (just hardware & manufacturing, not factoring in initial research cost).

So we have a long way to go before difficulty slows down. And it will always overshoot as all manufacture pump out miners until a point they realize they cant sell them anymore and have to lose money to get rid of inventory.  With 28/20nm now near end, there is nothing left but a race to the bottom.  

Expect 20-40% increase every cycle until end of 2014, then the difficulty will likely to slow down, by then you can get a 2-4TH miner for <$1000 assume btc remains at $1000

[ElGabo]

difficulty is going through the roof right now

while its true that difficulty is going up... it has actually slowed down, and thats a natural consequence of the number being so high that its becoming harder and harder to double every month like it has been for the last few months.  i don't expect it to keep doubling every month this year... it may do once or twice more, but i think the days of doubling are hopefully almost over...

AND.. if you do the math on how much each GH costs... AND how much power is being used.. there are upper limits on how many GH's we can have, and it will most likely be a lot lower than the mining forecast web apps are predicting for the end of 2014 (as they just double each month for 12 months.. which is extremely unlikely and impossible to achieve)

-- Jez

difficulty will only stop doubling when there is no money left to be made in hardware, ie: hw manufacturing cost basis = price the market is willing to pay.  Currently take the best example - 180GH antminer is going for around 3 btc = $3000, it cost them <$300 at max to make those things (just hardware & manufacturing, not factoring in initial research cost).

So we have a long way to go before difficulty slows down. And it will always overshoot as all manufacture pump out miners until a point they realize they cant sell them anymore and have to lose money to get rid of inventory.  With 28/20nm now near end, there is nothing left but a race to the bottom.  

Expect 20-40% increase every cycle until end of 2014, then the difficulty will likely to slow down, by then you can get a 2-4TH miner for <$1000 assume btc remains at $1000

And you will have to have a nuclear plant to run the units and cool them down....

[CanadianGuy]

we need an update

[TooDumbForBitcoin]

Expect 20-40% increase every cycle until end of 2014,

Really?  A 2500x increase in hashing power?

25 ExaHash/s, really?

At $1/G, people accumulate $25 billiion to spend on miners?  Really?

Oh, only $0.1/G .... $2.5 billion on miners?  Really?

That would take about 50GW of electricity, 24/7.  Fifty nuclear plants.

To mine 1.3 million coins.

So $2000 to $20,000 mining equipment cost per coin. 

Really?

[Bitcoinorama]

difficulty is going through the roof right now

while its true that difficulty is going up... it has actually slowed down, and thats a natural consequence of the number being so high that its becoming harder and harder to double every month like it has been for the last few months.  i don't expect it to keep doubling every month this year... it may do once or twice more, but i think the days of doubling are hopefully almost over...

AND.. if you do the math on how much each GH costs... AND how much power is being used.. there are upper limits on how many GH's we can have, and it will most likely be a lot lower than the mining forecast web apps are predicting for the end of 2014 (as they just double each month for 12 months.. which is extremely unlikely and impossible to achieve)

-- Jez

difficulty will only stop doubling when there is no money left to be made in hardware, ie: hw manufacturing cost basis = price the market is willing to pay.  Currently take the best example - 180GH antminer is going for around 3 btc = $3000, it cost them <$300 at max to make those things (just hardware & manufacturing, not factoring in initial research cost).

So we have a long way to go before difficulty slows down. And it will always overshoot as all manufacture pump out miners until a point they realize they cant sell them anymore and have to lose money to get rid of inventory.  With 28/20nm now near end, there is nothing left but a race to the bottom.  

Expect 20-40% increase every cycle until end of 2014, then the difficulty will likely to slow down, by then you can get a 2-4TH miner for <$1000 assume btc remains at $1000

So in essence it will come to a point of a margin above electricity costs like...well err...like graphics cards were?

By the way difficult has begun to slow down if you hadn't noticed. There will be periods where it increases and then becomes less dramatic like waves hitting a beach and being pulled back out to sea until the ASIC storm passes and we're back to where GPUs were.

Sorry for pointing out the bleeding obvious, but did you really believe that plugging in a box of tricks is a long term sustainable business unless you have access to significant hardware and cheap and accessible electricity?

Those margins will be squeezed whilst there is profit to be made from idley doing nothing.

Want to make lots of money? Then innovate a creative means of making Bitcoin infinitely more accesible to a mainstream audience, i.e. The general public in the west and especially the developing world where a unit of account divisible by 100 millionths makes microcredit feasible with the technology they have access to.

That sounds like work though doesn't? Probably why so few are concentrating on something infinitely more important to Bitcoins success than hoarding coins...

[CanadianGuy]

Cointerra has stopped approving posts in their forum since Dec 31. 
Is anyone starting to get nervous, or is it just me?

[plato14]

Cointerra has stopped approving posts in their forum since Dec 31. 
Is anyone starting to get nervous, or is it just me?

Thats weird i wonder why theyre doing that, i have posted there before and there the way they moderated was different

[CanadianGuy]

The only theory I could come up with is that they know they are about to experience a delay, but they don't want potential customers to read the frustration of december customers..
The most important question is how long this delay will last.  I phoned them today and she told me they should be shipping "any day now", and aiming to start shipping by the end of this week.  But she told the same story last week as well.  

They are way too quiet right now..
I think they are doing just fine, but they want to hold the machines for a little while to make some quick cash.. which should be illegal.  If they want to use the old "testing phase" excuse, then at least forward those bitcoins to the customers during any testing phase of mining..they are ours