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Author Topic: Cointerra TerraMiner Prices Released (updated)  (Read 10002 times)
CoinHoarder
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August 20, 2013, 12:55:57 AM
 #181

Also...

HashFast/xCrowd are offering a "Miner protection plan" of some sort. (If difficulty goes up so high that you can't ROI, they will provide extra chips for free... something along those lines.)

I'm a bit weary to order from a company that doesn't also provide this, because if they delay then you're out of luck.

I feel like a "Miner Protection Plan" is needed for any new start ups to be taken seriously.

Hashfast offer raw chips, but you have to pay for associated parts, assembly and shipping. Plus you'd presumably have to wait for such additionally hashing power to be made for you. This all negates any miner protection. Furthermore they guarantee refunds out of what, the pool of monies they have spent on development and wages? No third party assuming liability, no real protection.

X-Crowd offer protection on a global network of sub 350million in difficulty. By the time they deliver it will be beyond 350 million in difficulty, therefore such protection is also negated.

It's just marketing. You either fall for it, or you don't.

Cointerra looked promising as they promised to accept a secured payment with potential third party assuming liability to really protect their customers funds, but at this pricepoint there is no way they could have even genuinely considered Paypal as a payment choice.

I understand that the extra hashing power is only provided in chips (not assembled), but it is better than the NOTHING you would get from the other manufacturers if they are delayed and you won't make ROI, is it not?

Obviously xCrowd's miner protection plan of difficulty <350 million is not really a miner protection plan. I did not know they had placed such a limit on the difficulty. HOWEVER, they also are offering escrow so I fail to see how a gap in their miner protection plan is really that big of a deal. HashFast's miner protection plan seems decent.

In one case you are just screwed if they delay (KNC), and in the other case you can pay a little more to get the chips assembled and still make ROI (HashFast). I fail to see how not offering a miner protection plan is better than offering one...

Try looking at the situation without your KNC is the only legit answer goggles on...

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August 20, 2013, 01:02:57 AM
 #182

Also...

HashFast/xCrowd are offering a "Miner protection plan" of some sort. (If difficulty goes up so high that you can't ROI, they will provide extra chips for free... something along those lines.)

I'm a bit weary to order from a company that doesn't also provide this, because if they delay then you're out of luck.

I feel like a "Miner Protection Plan" is needed for any new start ups to be taken seriously.

Hashfast offer raw chips, but you have to pay for associated parts, assembly and shipping. Plus you'd presumably have to wait for such additionally hashing power to be made for you. This all negates any miner protection. Furthermore they guarantee refunds out of what, the pool of monies they have spent on development and wages? No third party assuming liability, no real protection.

X-Crowd offer protection on a global network of sub 350million in difficulty. By the time they deliver it will be beyond 350 million in difficulty, therefore such protection is also negated.

It's just marketing. You either fall for it, or you don't.

Cointerra looked promising as they promised to accept a secured payment with potential third party assuming liability to really protect their customers funds, but at this pricepoint there is no way they could have even genuinely considered Paypal as a payment choice.

I understand that the extra hashing power is provided in chips not assembled. But, it is better than the NOTHING you would get from the other manufacturers if they are delayed and you won't make ROI, is it not?

Obviously xCrowd's miner protection plan of difficulty <350 million is not really a miner protection plan. I did not know they had placed such a limit on the difficulty. However, HashFast's miner protection plan seems decent.

In one case you are just screwed if they delay, and in the other case you can pay a little more to get the chips assembled and still make ROI. I fail to see how not offering a miner protection plan is better than not offering one...

No if they are delayed because they lied about being able to raise funds, and secure fabrication at TSMC before October/November as promised, then as a customer when it dawns on me that a rocket run wasn't even feasible, I'd want my funds back in their entirey. Giving me an extra chip instead of the freedom of my own choice means nothing to me in the scheme of things. There is a reason they only give you a two week window to refund in January, and not before. There's a reason they keep refusing Paypal as a payment option when you would know inside of Paypal's 45 day protection plan whether Hashfast were capable of delivering as originally
promised in October.

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CoinHoarder
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August 20, 2013, 01:12:54 AM
 #183

No if they are delayed because they lied about being able to raise funds, and secure fabrication at TSMC before October/November as promised, then as a customer when it dawns on me that a rocket run wasn't even feasible, I'd want my funds back in their entirey. Giving me an extra chip instead of the freedom of my own choice means nothing to me in the scheme of things. There is a reason they only give you a two week window to refund in January, and not before. There's a reason they keep refusing Paypal as a payment option when you would know inside of Paypal's 45 day protection plan whether Hashfast were capable of delivering as originally
promised in October.

Right... and if KNC is unable to deliver, they will have enough funds to refund everyone 100%?  Roll Eyes

Maybe your credit card company/Paypal will bail you out, but there are plenty of people that have ordered with Bitcoin through KNC (including myself) and would be screwed in a similar circumstance. Also, they wouldn't get free extra chips for the "inconvenience" either...

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August 20, 2013, 01:25:40 AM
 #184

No if they are delayed because they lied about being able to raise funds, and secure fabrication at TSMC before October/November as promised, then as a customer when it dawns on me that a rocket run wasn't even feasible, I'd want my funds back in their entirey. Giving me an extra chip instead of the freedom of my own choice means nothing to me in the scheme of things. There is a reason they only give you a two week window to refund in January, and not before. There's a reason they keep refusing Paypal as a payment option when you would know inside of Paypal's 45 day protection plan whether Hashfast were capable of delivering as originally
promised in October.

Right... and if KNC is unable to deliver, they will have enough funds to refund everyone 100%?  Roll Eyes

Maybe your credit card company/Paypal will bail you out, but there are plenty of people that have ordered with Bitcoin through KNC (including myself) and would be screwed in a similar circumstance. Also, they wouldn't get free extra chips for the "inconvenience" either...

Well you can't say I didn't suggest used the safest means possible for yourself, but CoinHoarder from reading your posts I don't fear you aren't informed enough as to make your own decisions and accept responsibility for your own actions. You appear more mature and seasoned than most. Also I'd say it's fair they want your repeat custom, so let's see what happens. For me though anything I have to order in advance over £200 in value, I look for the most protected means possible.

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August 20, 2013, 01:32:03 AM
 #185

Quote from: cointerra
Due to high interest and demand, we have decided to announce the specs and price of our first product: TerraMiner IV, before the official launch of our full product line.
TerraMiner IV is the most powerful, high-performance Bitcoin mining rig available for pre-order and packs a hashrate of greater than 2 TH/s.
Designed by the world’s leading experts in ASICs, mathematics and algorithm design, it features Cointerra’s in-house designed ASIC – the GoldStrike1.
TerraMiner IV delivers unprecedented performance while maintaining an exceptionally efficient wattage rating (of significantly less than a watt per Gh/s). It is optimized and designed for use by Bitcoin mining (what else would it be used for ?) professionals who demand the very best cost/performance ratio for their systems.
TerraMiner IV will ship in December this year and retails for $15,750.
For more information and to place an order, go to order.cointerra.com.

 I haven't seen a bullshit fluff-laden PR piece like that since, well, the Butterfly Labs Monarch announcement.
 
 I'm calling shenanigans.
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August 20, 2013, 01:40:09 AM
 #186

None of it is lies.  It just is marketing speak.  Could have been a bullet list for all we care, but marketing bots do what marketing bots will do.

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August 20, 2013, 01:49:39 AM
 #187

Quote from: cointerra
Due to high interest and demand, we have decided to announce the specs and price of our first product: TerraMiner IV, before the official launch of our full product line.
TerraMiner IV is the most powerful, high-performance Bitcoin mining rig available for pre-order and packs a hashrate of greater than 2 TH/s.
Designed by the world’s leading experts in ASICs, mathematics and algorithm design, it features Cointerra’s in-house designed ASIC – the GoldStrike1.
TerraMiner IV delivers unprecedented performance while maintaining an exceptionally efficient wattage rating (of significantly less than a watt per Gh/s). It is optimized and designed for use by Bitcoin mining (what else would it be used for ?) professionals who demand the very best cost/performance ratio for their systems.
TerraMiner IV will ship in December this year and retails for $15,750.
For more information and to place an order, go to order.cointerra.com.

 I haven't seen a bullshit fluff-laden PR piece like that since, well, the Butterfly Labs Monarch announcement.
 
 I'm calling shenanigans.


yeah this was the biggest letdown so far, it was really enjoyable watching these clowns lol
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August 20, 2013, 02:12:14 AM
 #188

CoinTerra Unveils 2TH/s ASIC Bitcoin Miner

Due to high interest and demand, we have decided to announce the specs and price of our first product, TerraMiner IV, before the official launch of our full product line.

TerraMiner IV is currently the most powerful, high-performance Bitcoin mining rig available for pre-order and packs a hashrate of greater than 2 TH/s.

Designed by the world’s leading experts in ASICs, mathematics and algorithm design, it features Cointerra’s in-house designed ASIC – the GoldStrike1.

TerraMiner IV delivers unprecedented performance while maintaining an exceptionally efficient wattage rating. It is optimized and designed for use by Bitcoin mining professionals who demand the very best cost/performance ratio for their systems.

TerraMiner IV will ship in December this year and retails for $15,750.
 
For more information and to place an order, go to order.cointerra.com.

Looking forward to serving you,

The CoinTerra Team

- -

We apologize for the slight delay in the announcement here on the forum. We wanted to be sure that all the people who actively signed up for email updates on our website received this message first.

You mentioned before that you would have a

Quote
very customer friendly delay policy

Unfortunately your terms of service leave much to be desired: http://www.cointerra.com/consumer-sales-agreement/

Quote
• Excusable Delay. Cointerra shall not be liable for any delay or failure to perform due to any cause beyond its control or the control of its suppliers or subcontractors such as, for example, strikes, acts of God, acts of Buyer, interruption of transportation or inability to obtain the necessary labor, materials or facilities. Delivery schedules shall be considered extended by a period of time equal to the time lost because of any excusable delay. In the event Cointerra is unable wholly or partially to perform because of any such cause it may cancel its acceptance of Buyer’s order without liability to Buyer.
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August 21, 2013, 01:30:00 PM
 #189

also:
Quote
Warranties. CoinTerra warrants that its Product(s) will, at the time of shipment and for a period of ninety days thereafter

even though:
Quote
These Consumer Terms of Sale

(Emphasis mine.)

They have to offer 2 years warranty for sales to the EU. That's mandatory.

Given it's a "consumer" device, are they going through the FCC/CE certification process?

The price is "meh" for something shipping that late. They'll probably have to lower it or offer additional equipment at a heavy discount.

edit: funny they say it's for professionals in the announcement and not the T&C.

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June 10, 2014, 03:08:26 AM
 #190

This company has not produced a 2th/s miner ever to date!
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