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Author Topic: Cointerra TerraMiner Prices Released (updated)  (Read 10020 times)
JohnyBigs
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August 19, 2013, 08:06:07 PM


i think they still arent sure what prices to declare.

doesn't matter post something like those are not our prices on there ect. we will be posting prices shortly ect. ect.
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forevernoob
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August 19, 2013, 08:07:28 PM

No one cares for your pre-order nonsense, come back when you have something in hand and ready to ship.
+1

There should be a new subsection in this forum: "Pre-Orders & other vaporware"
All posts not directly related to existing hardware should go straight to that subsection.  This would cleanup the Custom Hardware section.

It is not "Custom Hardware Pre-orders"  or "Custom Dream/What I want for Christmas Hardware" section but "Custom Hardware".
It implies an existing hardware.



Problem is there is so few manufacturers that actually have a product to ship.
But I agree out of all threads in this forum 2 out of 10 are about actual products that you can buy today.
It's very hard to navigate. Maybe it's time to open up a new subsection called "available ASIC products" or something.


Ytterbium
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August 19, 2013, 08:09:48 PM

I know how stocks, shares, and dividends work, I just don't understand these companies completely complicated prices. Divide 20 million shares into total hashrate, then calculate dividends, ect.

Labcoin has 10m shares right now.  Their first batch of prototype chips should be 6TH/s and should be arriving in a couple days (but will take them some time to get all their boards assembled and online).  Once the chips are tested they'll order about 50TH/s worth by September.    You're not just buying shares in 50TH/s, though, they'll be adding more chips and are working on a 65nm design.

Their overall goal is to get 10% of the network.  If they only manage to get 2%, it would be ~72btc/day/10,000,000 shares = 0.00264BTC/year/share

gkm22d
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August 19, 2013, 08:13:40 PM

I might have considered 2Th for 5K in 12/13
$15K in 12/13 is a joke

Cointerra had a chance to really make an impact.  They had the hype and the potential, but completely blew it on the price.  Customers have to at least have the illusion of turning a profit before they will be willing to risk this much money on a product they won't receive for 3 months.

I was ready to drop a considerable amount of coin on a largish setup (10+ Th) but won't be pulling the trigger now.
+1
JohnyBigs
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August 19, 2013, 08:13:55 PM

I know how stocks, shares, and dividends work, I just don't understand these companies completely complicated prices. Divide 20 million shares into total hashrate, then calculate dividends, ect.

Labcoin has 10m shares right now.  Their first batch of prototype chips should be 6TH/s and should be arriving in a couple days (but will take them some time to get all their boards assembled and online).  Once the chips are tested they'll order about 50TH/s worth by September.    You're not just buying shares in 50TH/s, though, they'll be adding more chips and are working on a 65nm design.

Their overall goal is to get 10% of the network.  If they only manage to get 2%, it would be ~72btc/day/10,000,000 shares = 0.00264BTC/year/share

so for arguments sake if i invest $4,000 at .002 a share it gives me 2 million shares I'll make 5,200BTC for the year? is my math correct?
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August 19, 2013, 08:18:06 PM


so for arguments sake if i invest $4,000 at .002 a share it gives me 2 million shares I'll make 5,200BTC for the year? is my math correct?

2,000,000 x 0.002 = 4000 BTC = $400,000


$4,000 / 100 = 40 BTC / 0.002 = 20,000 shares = 52.8 BTC/yr

That's IF they can reach and maintain 2% of the BTC Hashrate for the entire year, I assume?

Edit:  2% of the current hashrate is about 800-1000TH/s unless my math is off...

My data is taken from here:

http://blockexplorer.com/q/nethash/2016
JohnyBigs
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August 19, 2013, 08:21:57 PM


so for arguments sake if i invest $4,000 at .002 a share it gives me 2 million shares I'll make 5,200BTC for the year? is my math correct?

2,000,000 x 0.002 = 4000 BTC = $400,000


$4,000 / 100 = 40 BTC / 0.002 = 20,000 shares = 52.8 BTC/yr

That's IF they can reach and maintain 2% of the BTC Hashrate for the entire year, I assume?

Ok that makes more sense, that it's pretty worthless compared to buying your own equipment.
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August 19, 2013, 08:34:18 PM


so for arguments sake if i invest $4,000 at .002 a share it gives me 2 million shares I'll make 5,200BTC for the year? is my math correct?

2,000,000 x 0.002 = 4000 BTC = $400,000


$4,000 / 100 = 40 BTC / 0.002 = 20,000 shares = 52.8 BTC/yr

That's IF they can reach and maintain 2% of the BTC Hashrate for the entire year, I assume?

Ok that makes more sense, that it's pretty worthless compared to buying your own equipment.

If you look at the Mining calculators, most barely make ROI in a year, and henceforth make barely anything at all.  With an investment like this (or ASICMINER) their overall hashrate goes up along with the rest of the network.  So you continue to make money year after year into the future.  Not just for one year before it becomes worthless.

Furthermore 2% was just a random example.  Their actual goal is ~10% or more. Their chips only cost them $9-10 and so they only pay about $2-3/GH/s. Compared to anywhere from $20 for KnC to $7 something for Cointerra if you want to drop $15k

JohnyBigs
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August 19, 2013, 08:37:20 PM


so for arguments sake if i invest $4,000 at .002 a share it gives me 2 million shares I'll make 5,200BTC for the year? is my math correct?

2,000,000 x 0.002 = 4000 BTC = $400,000


$4,000 / 100 = 40 BTC / 0.002 = 20,000 shares = 52.8 BTC/yr

That's IF they can reach and maintain 2% of the BTC Hashrate for the entire year, I assume?

Ok that makes more sense, that it's pretty worthless compared to buying your own equipment.

If you look at the Mining calculators, most barely make ROI in a year, and henceforth make barely anything at all.  With an investment like this (or ASICMINER) their overall hashrate goes up along with the rest of the network.  So you continue to make money year after year into the future.  Not just for one year before it becomes worthless.

Furthermore 2% was just a random example.  Their actual goal is ~10% or more. Their chips only cost them $9-10 and so they only pay about $2-3/GH/s. Compared to anywhere from $20 for KnC to $7 something for Cointerra if you want to drop $15k

Yeah but you are not getting the GH for $2-3/gh. If you were you would be making like $50K. If you were getting $2-3/gh you would make $100K, clearly that is not the case, if you only end up with a $1,000 profit.

This means their shares are an equivalent of probably $40/gh even more expensive than KNC as even KNC will give you an ROI of $9,000
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August 19, 2013, 08:37:31 PM

 Why should we trust Cointerra when they can't even be relied upon to release announcements in a reasonable timeframe ?

 This is why you don't make announcements about upcoming announcements. You just make the announcement when you are good and ready.
JohnyBigs
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August 19, 2013, 08:40:02 PM

Why should we trust Cointerra when they can't even be relied upon to release announcements in a reasonable timeframe ?

 This is why you don't make announcements about upcoming announcements. You just make the announcement when you are good and ready.

I clearly don't trust them anymore, this lack of incompetence spreads throughout the whole business. If these idiots can't even announce something properly would love for them to try and execute an ASIC design with proper time management.

It's one thing to not post on time, but at least come on and explain what is going on. You have a website posting numbers, you are late with your announcement, and you don't even bother to explain. Shows complete stupidity and recklessness.
Damnsammit
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August 19, 2013, 08:45:52 PM

yeah I understand wanting to generate hype, but I don't get the need for a pre-announcement of a price-announcement that in itself is a pre-announcement for the pre-order... Huh

mtminer
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August 19, 2013, 08:49:56 PM


so for arguments sake if i invest $4,000 at .002 a share it gives me 2 million shares I'll make 5,200BTC for the year? is my math correct?

2,000,000 x 0.002 = 4000 BTC = $400,000


$4,000 / 100 = 40 BTC / 0.002 = 20,000 shares = 52.8 BTC/yr

That's IF they can reach and maintain 2% of the BTC Hashrate for the entire year, I assume?

Ok that makes more sense, that it's pretty worthless compared to buying your own equipment.

If you look at the Mining calculators, most barely make ROI in a year, and henceforth make barely anything at all.  With an investment like this (or ASICMINER) their overall hashrate goes up along with the rest of the network.  So you continue to make money year after year into the future.  Not just for one year before it becomes worthless.

Furthermore 2% was just a random example.  Their actual goal is ~10% or more. Their chips only cost them $9-10 and so they only pay about $2-3/GH/s. Compared to anywhere from $20 for KnC to $7 something for Cointerra if you want to drop $15k

For them to keep the 2% they would need to add capacity at the same rate that the network is increasing. IE ~50% just this month alone.
Buildings with large installations of power 1,000 amp range aren't cheap, and buildings with multiple redundant feeds are even more expensive. Some of the best data centers only run 1 watt of computing power to 1 watt of cooling.

JohnyBigs
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August 19, 2013, 08:58:08 PM

yeah I understand wanting to generate hype, but I don't get the need for a pre-announcement of a price-announcement that in itself is a pre-announcement for the pre-order... Huh



That hype turns into negativity when you fail to deliver and even post a clarification lol. The hype would of been good if right before deadline they posted prices it would of kept the hype going, not this sorry excuse of a failure lol. This just kills anything you had going for yourself plus it damages you beyond repair.

Why would we trust these guys when they can't even take 2 seconds of their time to post something.
erschiessen
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August 19, 2013, 09:53:07 PM

Cointerra GoldStrike System prices will be released within 48 hours! Stay tuned!!
It's nearing 56 hours since this was posted.

Is it the genesis block story?
Shucks, I am disappointed.
It surely didn't live up to the hype.

Your Message Here
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GodfatherBond
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August 19, 2013, 09:56:51 PM

yeah I understand wanting to generate hype, but I don't get the need for a pre-announcement of a price-announcement that in itself is a pre-announcement for the pre-order... Huh



That hype turns into negativity when you fail to deliver and even post a clarification lol. The hype would of been good if right before deadline they posted prices it would of kept the hype going, not this sorry excuse of a failure lol. This just kills anything you had going for yourself plus it damages you beyond repair.

Why would we trust these guys when they can't even take 2 seconds of their time to post something.

Not anymore wasting time for watching cointerra - maybe they will be good supplier in the future, but this is somehow funny. Anyway - if I buy, I will buy new Avalons if they will have those ready to ship within three days at some stage - of course depending on the price Wink

Have to say that I was expecting prompt announcement from cointerra, but basicly nothing - nothing here or their site. Goodbye cointerra.
gkm22d
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August 19, 2013, 10:01:13 PM

I guess they knew nobody was interested so they aren't even going to bother.
Newscastix
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August 19, 2013, 10:05:15 PM

yeah I understand wanting to generate hype, but I don't get the need for a pre-announcement of a price-announcement that in itself is a pre-announcement for the pre-order... Huh



The twist is that bitcoin mining products are probably the only products on earth that sell like hot cakes without any hype at all... just by having them in stock..  Grin

 
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August 19, 2013, 10:08:29 PM

yeah I understand wanting to generate hype, but I don't get the need for a pre-announcement of a price-announcement that in itself is a pre-announcement for the pre-order... Huh
The twist is that bitcoin mining products are probably the only products on earth that sell like hot cakes without any hype at all... just by having them in stock..  Grin

Or just promising to make them sometime in vaguely defined future. Cheesy
JohnyBigs
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August 19, 2013, 10:37:06 PM

It's amazing how many of these companies shoot themselves in the foot by being complete morons lmao.
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