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

[DustyRah]

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

I'm in the same boat, waiting since Feb and still no reply.

Getting worried they may disappear over night before they refund their customers.

That sounds very scary. Some others reported here that they did get their refund.

[TheWoodser]

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

I'm in the same boat, waiting since Feb and still no reply.

Getting worried they may disappear over night before they refund their customers.

That sounds very scary. Some others reported here that they did get their refund.

EVERYONE I know that requested a refund have NOT received it.......Do not give them a cent until this is fixed....

[Specialkey]

Sorry to hear that many of us have problems with the refund.

And now I saw what they are doing with our money.

They create a Mining park depending on our money.

http://mining.cointerra.com/

Building their future with our bucks.

So now it is enough. I think about a journey to sweet Texas.

[Grasberg]

Put me on the list of refunds pending.  It makes me very nervous to hear about so many others.  Maybe I got scammed even harder than if I'd taken delivery of the unit.

[DustyRah]

I have a refund pending which they confirmed to offer me 3 weeks ago. I sent them an email couple days back asking for status but no response yet. Can you guys give info about when your refund was confirmed by them and how long since then it has been?

BTW, I have seen comment or two about some people actually getting their refund.

[Specialkey]

I have waited paitently too for a long time now.

With this paying/ refund moral Terramine Hosting/ Cointerra is not a trust worthy company anymore.

They invest our money in theit future that is not right and I think it is illegal too depending on US rights.

I think about opening an own thread one for Terramine Hosting victims. Then we get a lawyer together.

My patience is after 6 months and many sorrys over.

[Specialkey]

Oh what did I have right now in my email box

http://cointerra.com/?wysija-page=1&controller=email&action=view&email_id=30&wysijap=subscriptions

Hope that that will bring the money to refund us.

[Korbman]

Oh what did I have right now in my email box

http://cointerra.com/?wysija-page=1&controller=email&action=view&email_id=30&wysijap=subscriptions

Hope that that will bring the money to refund us.

Ah, yes, I've received that as well. Hosted mining between $4.99 and $2.75 per GH/s, which I suppose isn't so bad.

Oh wait... http://goo.gl/p7emyh

[Specialkey]

Oh what did I have right now in my email box

http://cointerra.com/?wysija-page=1&controller=email&action=view&email_id=30&wysijap=subscriptions

Hope that that will bring the money to refund us.

Ah, yes, I've received that as well. Hosted mining between $4.99 and $3.50 per GH/s, which I suppose isn't so bad.

Oh wait... http://goo.gl/p7emyh

Difficuty climbs up fast like hell

[Korbman]

Ah, yes, I've received that as well. Hosted mining between $4.99 and $2.75 per GH/s, which I suppose isn't so bad.

Oh wait... http://goo.gl/p7emyh

Difficuty climbs up fast like hell

Currently it does, sure, but that won't last too far into the future. My point in this case is that it's a much more sensible investment (for most people) to purchase Bitcoins outright instead of either mining themselves or going through hosted plans.

Let's say the hosted hardware CoinTerra is offering somehow manages to get 1w per 1 GH/s. For a 12 month host, that 1w / 1GH/s will cost approximately $2.19 (@ $0.25 per kWh to cover industrial energy, space, cooling, and security).

200GH/s is priced at $999, and costs CoinTerra $438 to host. Profit is ~$2.80 per GH/s.
1,000,000 GH/s is priced at $2.75M, and costs CoinTerra $2.19M to host. Profit is $0.56 per GH/s.

If you go with the max plan, 1PH/s for 24 months:
1,000,000 GH/s is priced at $3.5M, and costs CoinTerra $4.38M to host. Obviously they can't have a loss, so my guess is either A) they've already factored in a baseline profit from developing the hardware itself (e.g. it costs less than $1.75 per GH/s to develop the hardware), B) I've overestimated the cost per kWh, C) something I've missed, or D) a mix of A, B, and/or C.

In any case, they've got some high margins on plans most people would actually purchase. Things only get reasonable when you start spending a few $100k-$1M.

[cxz]

Ah, yes, I've received that as well. Hosted mining between $4.99 and $2.75 per GH/s, which I suppose isn't so bad.

Oh wait... http://[Suspicious link removed]/p7emyh

Difficuty climbs up fast like hell

Currently it does, sure, but that won't last too far into the future. My point in this case is that it's a much more sensible investment (for most people) to purchase Bitcoins outright instead of either mining themselves or going through hosted plans.

Let's say the hosted hardware CoinTerra is offering somehow manages to get 1w per 1 GH/s. For a 12 month host, that 1w / 1GH/s will cost approximately $2.19 (@ $0.25 per kWh to cover industrial energy, space, cooling, and security).

200GH/s is priced at $999, and costs CoinTerra $438 to host. Profit is ~$2.80 per GH/s.
1,000,000 GH/s is priced at $2.75M, and costs CoinTerra $2.19M to host. Profit is $0.56 per GH/s.

If you go with the max plan, 1PH/s for 24 months:
1,000,000 GH/s is priced at $3.5M, and costs CoinTerra $4.38M to host. Obviously they can't have a loss, so my guess is either A) they've already factored in a baseline profit from developing the hardware itself (e.g. it costs less than $1.75 per GH/s to develop the hardware), B) I've overestimated the cost per kWh, C) something I've missed, or D) a mix of A, B, and/or C.

In any case, they've got some high margins on plans most people would actually purchase. Things only get reasonable when you start spending a few $100k-$1M.

I've been waiting for a refund for months. No response the my messages. Wouldn't trust this company with that sort of money.

[Specialkey]

Ah, yes, I've received that as well. Hosted mining between $4.99 and $2.75 per GH/s, which I suppose isn't so bad.

Oh wait... http://goo.gl/p7emyh

Difficuty climbs up fast like hell

Currently it does, sure, but that won't last too far into the future. My point in this case is that it's a much more sensible investment (for most people) to purchase Bitcoins outright instead of either mining themselves or going through hosted plans.

Let's say the hosted hardware CoinTerra is offering somehow manages to get 1w per 1 GH/s. For a 12 month host, that 1w / 1GH/s will cost approximately $2.19 (@ $0.25 per kWh to cover industrial energy, space, cooling, and security).

200GH/s is priced at $999, and costs CoinTerra $438 to host. Profit is ~$2.80 per GH/s.
1,000,000 GH/s is priced at $2.75M, and costs CoinTerra $2.19M to host. Profit is $0.56 per GH/s.

If you go with the max plan, 1PH/s for 24 months:
1,000,000 GH/s is priced at $3.5M, and costs CoinTerra $4.38M to host. Obviously they can't have a loss, so my guess is either A) they've already factored in a baseline profit from developing the hardware itself (e.g. it costs less than $1.75 per GH/s to develop the hardware), B) I've overestimated the cost per kWh, C) something I've missed, or D) a mix of A, B, and/or C.

In any case, they've got some high margins on plans most people would actually purchase. Things only get reasonable when you start spending a few $100k-$1M.

Build up includes our refunds. That is the oint that mostly suks to me.

[Pentax]

Ah, yes, I've received that as well. Hosted mining between $4.99 and $2.75 per GH/s, which I suppose isn't so bad.

Oh wait... http://goo.gl/p7emyh

Difficuty climbs up fast like hell

Currently it does, sure, but that won't last too far into the future. My point in this case is that it's a much more sensible investment (for most people) to purchase Bitcoins outright instead of either mining themselves or going through hosted plans.

Let's say the hosted hardware CoinTerra is offering somehow manages to get 1w per 1 GH/s. For a 12 month host, that 1w / 1GH/s will cost approximately $2.19 (@ $0.25 per kWh to cover industrial energy, space, cooling, and security).

200GH/s is priced at $999, and costs CoinTerra $438 to host. Profit is ~$2.80 per GH/s.
1,000,000 GH/s is priced at $2.75M, and costs CoinTerra $2.19M to host. Profit is $0.56 per GH/s.

If you go with the max plan, 1PH/s for 24 months:
1,000,000 GH/s is priced at $3.5M, and costs CoinTerra $4.38M to host. Obviously they can't have a loss, so my guess is either A) they've already factored in a baseline profit from developing the hardware itself (e.g. it costs less than $1.75 per GH/s to develop the hardware), B) I've overestimated the cost per kWh, C) something I've missed, or D) a mix of A, B, and/or C.

In any case, they've got some high margins on plans most people would actually purchase. Things only get reasonable when you start spending a few $100k-$1M.

absolutely true.  the difficulty climbs faster than these pre-orders can get to market.  by the time they're out, they're junk.

it doesn't help when they're produced and shipped at 20% under spec with zero compensation for that deficiency, as Cointerra has done.  that's fraud as far as I'm concerned and is grounds for a certifiable class action.

in terms of the difficulty, it is still rising, albeit slowing a bit.  However, Black Arrow is getting ready to ship, finally, as is KnC.  Spoondillies is spitting them out also, as is bitmain.  from a market perspective they'll keep producing as long as people keep buying.  price/Gh will drop but as long as it's profitable we can expect network hashrate to continue to rise, although I think it's reasonable to expect that the rate of increase, as a percentage of network hashrate, will slow somewhat.

[KIDC]

You might be interested in this thread over at the Cointerra forums: http://forum.cointerra.com/threads/making-the-terraminer-cooling-more-efficient.817/

I'm going into great detail there and sharing pictures of repaste attempts and discussion back and forth regarding overheating and throttling issues.

EDIT: I accidentally a word, the whole thing

[5craziest]

I bought 3 TM IV's.  I believe they were March delivery.  Anyway, as soon as they released the initial performance data around the holidays, I crunched the numbers and wasn't happy.  I asked for a refund.  I think because I put the request in so early it came through (after 4 weeks and quite a few calls and emails from my end). 

[DustyRah]

<quote>
CoinTerra Support (CoinTerra)
May 13 13:52

Can you try this firmware? Only the second board is having issues. Usually related to the CorePerf Mode = 75; this changes some of the settings on the board.

Regards,
Marshall

Attachment(s)
TerraMiner_0.8.12.tgz
</quote>

They sent me a firmware and after applying firmware, machine does not show up on network. Cannot reset it either. Almost feels like they did it on purpose. Worst experience of my life buying a product!

[CrazyGuy]

<quote>
CoinTerra Support (CoinTerra)
May 13 13:52

Can you try this firmware? Only the second board is having issues. Usually related to the CorePerf Mode = 75; this changes some of the settings on the board.

Regards,
Marshall

Attachment(s)
TerraMiner_0.8.12.tgz
</quote>

They sent me a firmware and after applying firmware, machine does not show up on network. Cannot reset it either. Almost feels like they did it on purpose. Worst experience of my life buying a product!

At least you got a response. I opened a support ticket 3 weeks ago and haven't heard anything back. I tried calling them and they no longer answer the phone, requesting that customers email them. I'm extremely frustrated and disappointed with Cointerra's level of service. I now have a terrahasher that I can not safely run over power stepping 6. I'm under warranty and being completely ignored...

Let this be a warning to any buyers considering one of their discount 1.6 th/s machines. They degrade quickly and there is currently no way to get in touch with their customer service department.

[asnghost]

<quote>
CoinTerra Support (CoinTerra)
May 13 13:52

Can you try this firmware? Only the second board is having issues. Usually related to the CorePerf Mode = 75; this changes some of the settings on the board.

Regards,
Marshall

Attachment(s)
TerraMiner_0.8.12.tgz
</quote>

They sent me a firmware and after applying firmware, machine does not show up on network. Cannot reset it either. Almost feels like they did it on purpose. Worst experience of my life buying a product!

At least you got a response. I opened a support ticket 3 weeks ago and haven't heard anything back. I tried calling them and they no longer answer the phone, requesting that customers email them. I'm extremely frustrated and disappointed with Cointerra's level of service. I now have a terrahasher that I can not safely run over power stepping 6. I'm under warranty and being completely ignored...

Let this be a warning to any buyers considering one of their discount 1.6 th/s machines. They degrade quickly and there is currently no way to get in touch with their customer service department.

Last week I applied for technical support, since my miner went from 1.6 (running 1 month) to 1.4 th/s. The core temps running around 85. Seems a bit high to me. I think my unit got bad chips. Anyway, no response so far. They under delivered and now they are not responding, very bad indeed.

They could offer free hosting for the missing th-gh/s as compensation for a period of time. 

[Mattster28]

Any idea of price per GH/s?

I am trying to decide to wait for you, or order through KnC.

If you are ok with discarding your KNC product in a couple of months after purchase, then go for it.

All these problems customers are having takes me back to this little gem.

Edit: Bold

[Pentax]

Any idea of price per GH/s?

I am trying to decide to wait for you, or order through KnC.

If you are ok with discarding your KNC product in a couple of months after purchase, then go for it.

All these problems customers are having takes me back to this little gem.
 
Edit: Bold

I know.  I reread a lot of this also.  After talking all of that shit, they've done nothing but ram their dicks in the asses of their customers.

I absolutely cannot wait for the lawsuit.