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Author Topic: Cointerra still processing refunds  (Read 3107 times)
mitty
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November 06, 2013, 02:32:11 AM
 #21

I'm almost certain the refund was in fiat since the prices on cointerra's site are all in USD and because they use bitpay to process payments and automatically adjust the BTC price based on the current exchange rate.

I wouldn't complain if I'm wrong though. Wink

Update 2013-11-11: Peter from Cointerra finally got back to me and said they will send me a refund in the form of a check for USD.
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May 21, 2014, 10:53:00 PM
 #22

I'm almost certain the refund was in fiat since the prices on cointerra's site are all in USD and because they use bitpay to process payments and automatically adjust the BTC price based on the current exchange rate.

I wouldn't complain if I'm wrong though. Wink

Update 2013-11-11: Peter from Cointerra finally got back to me and said they will send me a refund in the form of a check for USD.

I wish Peter would get in touch with me. I paid them in December after requesting a refund and sending them my bank info I heard nothing.

I've been waiting months. No refund or response. I spoke to them today and they are still refusing to send my refund I am not one to take legal action but I complained to the texas attorney general in the hope I'll see my money again.
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May 22, 2014, 11:53:38 AM
 #23

May 21st, 2014

Dear Ed,

We are getting in touch with you because you have previously requested a refund of your CoinTerra hardware order.

At the time of your refund request, it was likely communicated to you that we typically take between 2-4 weeks to process refunds. Unfortunately, we received a larger quantity of refund requests around the time that we started to ship our April batch of TerraMiners to customers, and as a result we are running behind on processing them, as they are refunded in the order in which the refund request is received.

Your refund request is still active, and we are currently anticipating between 8 and 12 weeks processing time for some refunds.  We will continue to work towards processing the refunds as quickly as possible.

However, we would also like to share with you two incredible limited-time offers that, should you choose, will quickly get you back on track with your bitcoin mining activities:

Option 1

Some customers requested their refund because of the hash power deficit of 400 GH/s in the 1.6 TH/s units. With manufacturing running at full capacity we are now able to ship the 1.6 TH/s TerraMiners immediately from stock, and so for a limited time, if you are a US resident customer* who purchased at the original price of $5,999 (plus shipping) we can ship you 2 x your original order of TerraMiner IV 1.6 TH/s Bitcoin miners with FREE ground shipping on the additional unit(s).  That’s 3.2 TH/s for the same price paid for 2 TH/s!

An order for 1 x TerraMiner IV at $5,999 entitles you to receive a second TerraMiner IV with FREE UPS Ground shipping. An order of 2 x TerraMiner IV’s with total price of $11,998 + shipping entitles you to receive 4 x TerraMiner IV 1.6 TH/s shipped immediately with FREE UPS Ground shipping for the additional 2 units.

Option 2

Some customers requested a refund because for whatever reason they were unable to run the TerraMiners in their location.  We have been working on a solution to this problem and you may have read the announcement on May 12th that we have now launched a new service offering cloud-based Bitcoin Mining Contracts through CoinTerra Mining at:

http://mining.cointerra.com

A cloud-based mining contract is a solution where you receive regular payouts at the contracted hash power for a fixed term, powered by our scalable TerraMiner farm in a 24 x 7 datacenter: No equipment, no electricity costs, and no hands-on system management required.

For a limited time we are offering the equivalent of your purchase price of each TerraMiner converted to the 2 TH/s mining contract which is currently priced at $7,999 - a savings of $2,000!  If you have 2 x TerraMiner IV’s then you will get 2 x 2 TH/s plans, etc.

To discuss your order, please reply to this email with your preferred phone number and time of day to reach you (please include your time zone) and we will get in touch. If you are only able to communicate via email (for example, if you are not comfortable speaking in English) then please reply to this email and we will get back in touch.

In the event that you these offers do not interest you, we completely understand and we will keep you on the refund list and we thank you for your ongoing patience and understanding as we work to stay ahead in the incredibly fast-moving Bitcoin ecosystem.

Please do not hesitate to reach out to us if you have any questions.

 

Team CoinTerra

customeroffers@cointerra.com

This pretty much means they are broke and do not have the money to refund us. Also it is illegal. They cannot do this.
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January 09, 2015, 12:24:34 PM
 #24

Jan 08 10:58

Hello,

Thank you for contacting CoinTerra.

Our legal department has provided the following:

“The company has defaulted on its secured notes. The Note Holders have senior, secured and, we believe, perfected liens on all of CoinTerra's assets, including servers. We have proposed a plan to the Note Holders. However, at this point we do not know how they are going to react to our proposal. The Note Holders are evaluating their options. Until this is resolved, CoinTerra will be unable to make further payments.”

What this means is that we cannot issue any payments to customers at this time. We will let you know if this situation changes or if there are any relevant new developments but, for now, we have no further information.

Best regards,

CoinTerra Support Team

---------------------

I am just glad i ordered KNC at the same time who delivered on their promise.

#thanks for nothing

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