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

[Pentax]

class action is likely better.  a good lawyer has a better chance of winning than any one of us showing up in court.  that will cost some amount of money.  and yes, I'd be willing to look at that option, as it becoming clear that they have no plans to do anything about any of this.

Small claims court is the best. No lawyers allowed, so minimal cost to go to small claims court. It would be easy to show you ordered a product with specific performance, and were delivered something that fails to meet the specs (or not delivered anything, etc). The hard part is you have to show up in their home town court. If you live far away, that would be a problem.

I looked at small claims initially also, thinking the same thing.

I came to a different conclusion however due to these facts:

1.  as you indicate this is in Texas, which I am not, and it's likely that most customers are not either.
2.  I've looked into Texas law and, from what I've found, either party can bring an attorney to small claims, so one could not assume that CT will not have representation.  I think they almost certainly would.  
3.  I think a local lawyer would be better suited to argue it, having a better understanding of the laws/courts there.  
 
On a more anecdotal level I went to court once without a lawyer, thinking it was an easy, obvious thing.  I will never do that again.  

What I learned was to always bring a lawyer to court.  The most experienced, respected member of the local bar as is possible.  

[Syke]

2.  I've looked into Texas law and, from what I've found, either party can bring an attorney to small claims, so one could not assume that CT will not have representation.  I think they almost certainly would.  

Thanks for the correction. Texas small claims courts do allow lawyers. A few other states do not.

[kkurtmann]

They have the in stock 1.6Th/s miners out on sale for $4799. Lots of people must have cancelled their order and requested a refund.

probably because KnCMiner just opened up sales of mini Neptune for $3500 at same speed and lower power consumption than cointerra's.

[solarion]

They have the in stock 1.6Th/s miners out on sale for $4799. Lots of people must have cancelled their order and requested a refund.

probably because KnCMiner just opened up sales of mini Neptune for $3500 at same speed and lower power consumption than cointerra's.

Correction. Knc did *NOT* just open up sales of mini Neptunes. They opened up a NON-REFUNDABLE queue in which you may pay 100% of the price now and hopefully get your perishable product if and when they get around to building it.

[DustyRah]

What action did you guys take when one of the 4 cores stopped working? As though its not already bad with 20% less hashrate now one of the cores has stopped working reducing the hash rate to 1.2 Th/s.

Just restart cgminer from the config tab.

No luck restarting cgminer. I also restarted the machine both using Restart System option and hard booting it. The 2nd core of CTA0 appears to be hosed. I have left a voicemail and sent an email. Hope to have this resolved ASAP with Cointerra's asistance.

Appears one of the four pumps is not running. The machine is sealed so I am basically waiting now to see how this gets fixed by Cointerra.

[Pentax]

They have the in stock 1.6Th/s miners out on sale for $4799. Lots of people must have cancelled their order and requested a refund.

probably because KnCMiner just opened up sales of mini Neptune for $3500 at same speed and lower power consumption than cointerra's.

KnC is eating their ass for lunch.  makes the first few posts in this thread seem even funnier.   

[Pcpoet]

Posted From bitcointalk.org Android App

[CurcO]

I just filled a class action , PM I will send you the details.

I have a CT IV which hashes about 1.1 thps.  That's 55% of what I paid for.  They seem disinclined to provide any satisfaction.

Are there any lawsuits pending which I might join?  Is anyone else interested in joining a class action?

[asnghost]

I just filled a class action , PM I will send you the details.

I have a CT IV which hashes about 1.1 thps.  That's 55% of what I paid for.  They seem disinclined to provide any satisfaction.

Are there any lawsuits pending which I might join?  Is anyone else interested in joining a class action?

I'm watching, i can't say the i... word anymore.

[DPoS]

Appears one of the four pumps is not running. The machine is sealed so I am basically waiting now to see how this gets fixed by Cointerra.

Why not ask dtuur how he feels or cares about your issues... Cointerra has angel investors that they answer to and please, the customers are just a means to that end

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

[sirky]

I just saw this today: http://www.coindesk.com/cointerra-ships-5000th-terraminer-offers-20-discount/. I went to the CoinTerra website and confirmed this was the case, and you do claim that you have miners in stock. The story I linked to also has the following line:

March orders were fulfilled and the company now says it has shipped the April batch of orders to customers ahead of schedule.

They have not shipped my March order yet. This is incredibly frustrating for me when you take into account everything I went through with my December Order. I am sending them an email, and will let everyone know.

[kenmomotaro]

I just saw this today: http://www.coindesk.com/cointerra-ships-5000th-terraminer-offers-20-discount/. I went to the CoinTerra website and confirmed this was the case, and you do claim that you have miners in stock. The story I linked to also has the following line:

March orders were fulfilled and the company now says it has shipped the April batch of orders to customers ahead of schedule.

They have not shipped my March order yet. This is incredibly frustrating for me when you take into account everything I went through with my December Order. I am sending them an email, and will let everyone know.

Dude, my situation is just as same as you. God knows when will CT send those compensation miners.

[RoadStress]

I just saw this today: http://www.coindesk.com/cointerra-ships-5000th-terraminer-offers-20-discount/. I went to the CoinTerra website and confirmed this was the case, and you do claim that you have miners in stock. The story I linked to also has the following line:

March orders were fulfilled and the company now says it has shipped the April batch of orders to customers ahead of schedule.

They have not shipped my March order yet. This is incredibly frustrating for me when you take into account everything I went through with my December Order. I am sending them an email, and will let everyone know.

I know that you got burned by CT, but if you are looking for a better treatment from your mining company have a look at my sig Group Buy.

[tzortz]

Preorders?

[Pcpoet]

Preorder are terrible. Period.   

[sirky]

I just saw this today: http://www.coindesk.com/cointerra-ships-5000th-terraminer-offers-20-discount/. I went to the CoinTerra website and confirmed this was the case, and you do claim that you have miners in stock. The story I linked to also has the following line:

March orders were fulfilled and the company now says it has shipped the April batch of orders to customers ahead of schedule.

They have not shipped my March order yet. This is incredibly frustrating for me when you take into account everything I went through with my December Order. I am sending them an email, and will let everyone know.

To follow up, I sent them an email Wednesday afternoon, right before I posted this. The official cointerra account here (bitcointalk) reached out to me Thursday, and I gave them all the information they asked for, as well as the message numbers of the emails I sent them. However, as of right now, more than four days later, I have not heard any official word back from them. Albeit - I am basically asking for a refund of a miner I got for free (since I was a December order), so they might be discussing what to do about that with the higher ups, I don't know.

And I want to say, I don't think Cointerra are bad people, or are out to get anyone, I just think they have had some issues, both in miner implementation (completely excusable, considering they were on the cutting edge IMO) and in customer service/shipping/organization (much less excusable). I mention in my email I would buy from them again in the future. I would just rather have cash in late April for my March miner than a 1.5-1.6 TH miner that pulls 2kish watts at this time.

I will still let everyone know how this all resolves.

[dogie]

This company's rating has changed in the Manufacturer Trustworthiness Guide.

[neuromancerES]

Hi,

I'm selling my 2 Cointerra's Terraminer IV (Early Jan. Batch, shipped mid. Feb.)

http://www.ebay.es/itm/171307074595

Both hash at 1.6TH/s. The power consumption of both is about 1800W.

Good luck!

[sirky]

I just saw this today: http://www.coindesk.com/cointerra-ships-5000th-terraminer-offers-20-discount/. I went to the CoinTerra website and confirmed this was the case, and you do claim that you have miners in stock. The story I linked to also has the following line:

March orders were fulfilled and the company now says it has shipped the April batch of orders to customers ahead of schedule.

They have not shipped my March order yet. This is incredibly frustrating for me when you take into account everything I went through with my December Order. I am sending them an email, and will let everyone know.

To follow up, I sent them an email Wednesday afternoon, right before I posted this. The official cointerra account here (bitcointalk) reached out to me Thursday, and I gave them all the information they asked for, as well as the message numbers of the emails I sent them. However, as of right now, more than four days later, I have not heard any official word back from them. Albeit - I am basically asking for a refund of a miner I got for free (since I was a December order), so they might be discussing what to do about that with the higher ups, I don't know.

And I want to say, I don't think Cointerra are bad people, or are out to get anyone, I just think they have had some issues, both in miner implementation (completely excusable, considering they were on the cutting edge IMO) and in customer service/shipping/organization (much less excusable). I mention in my email I would buy from them again in the future. I would just rather have cash in late April for my March miner than a 1.5-1.6 TH miner that pulls 2kish watts at this time.

I will still let everyone know how this all resolves.

I spoke to them on the phone today, and they took care of me. They asked that I keep the terms of our agreement confidential, but they owned up to the mistake, and I am once again happy.

[aerobatic]

just want to confirm that as of an hour or so ago i have formally accepted cointerra's invitation to become an 'advisor' (and since I'm the only one at this time, i believe I'm the 'chief advisor')  i will give them my views and hope that its good advice and help them make good decisions going forwards.

as most of you know, I've been fulfilling an informal 'backchannel' role for awhile, helping a few forum folks out with problems and passing notes back and forth between cointerra execs and the forum.. while still trying to be as balanced and neutral as possible (which can be tough, i admit)

i still mine with kncminer, hashfast and cointerra gear.  I'm sure i will still continue to buy other company's mining gear as well as i am bought a lot of cointerra gear.  And yes, I've even bought used cointerra gear from some of you (not all of my miners came direct from cointerra).  will still try to be balanced and agnostic about mining gear, and use the best tools for the job.

any questions, let me know.  I'm NOT a cointerra employee.  Anything i say is definitely not cointerra's view.  I did buy ALL of the cointerra gear I've got.  but i will try my best to get them to visit the forums a bit more than they have done in the past. 

happy mining...

-- Jez