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Author Topic: Cointerra Class-Action Lawsuit  (Read 6179 times)
cxz
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May 06, 2014, 01:21:59 AM
 #21

Cointerra offered to ship the second unit for $1400.  I accepted.  They only shipped one unit and did not get back to me regarding the second unit.  Up until now, nobody emailed me back.

I got the same offer but turned it down. I requested a full refund. They sent me an automated message saying your refund request has been submitted and being reviewed by our support team.

I've heard nothing since.

I email cointerra usually twice a day and heard nothing back ever.

Their phone number doesn't accept calls.

They are impossible to communicate with.

Ive even send messages to their twitter and facebook profiles.

So with no miner and no refund, I have no option but to take legal action.

Count me in!
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May 06, 2014, 02:02:19 AM
 #22

Can we organize a "cointerra" boycott at their headquarter?   Everybody lets get naked and line up in their main entrance?

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May 11, 2014, 02:49:38 AM
 #23

Cointerra will retain a bunch of professional liars(lawyers) to argue the meaning of the word "is" and attack the plaintiffs, but I hope cointerra goes down. Lessee.

Cointerra sued, bfl sued, hashfast sued, vmc sued. Guess that about covers all the American manufacturers. Obviously US laws haven't been much of a fraud deterrent to this point.

ok, i find this argument a little surreal.

let me play devil's advocate here.. and put forward an opposing viewpoint just for a moment.  I'm going to go for the extreme opposing viewpoint and show you what it can look like from another point of view.  indulge me please...   i will also use the devil theme a lot in these thoughts...

there's one striking difference in that list.  cointerra did.. actually ship!  and they shipped within a few weeks (not months) of the promised date.  and caught up their backlog very quickly (in weeks) and now ship from stock and shipped the may and june batches early (who even does that!?).

you can't say that bfl shipped anything ever, on time (monarch was promised in november, and we're now may and its still not shipping - even 6 months later.. and many people only ordered the monarch as a conversion because their original order for the 65nm single or mini rigs was taking more than 6 (and in some cases 12 months!!) and us suckers thought we could catch up on hash rate by letting bfl play the shell game one more time.  I'm one of the suckers - i ordered my bfl single in feb and received it in november after its value had diminished to almost zero!) - and bfl fight to the death to avoid giving any refunds - really pulling out all the stops to prevent anyone getting a refund...

hashfast promised october.. and we're now may and they're still not shipping and they're now talking june onwards (and not refunding either), vmc, er lost track of when they promised.. but they're still not shipping.   so whats your beef?  that they didn't accurately predict the performance and power consumption?  thats it?   and yet, they may be one of only very few bitcoin mining hardware companies to actually ship nearly on time?  and nearly to spec?

heck, even the golden boys kncminer have fallen out of favour. go read their forums.  they could do no wrong, with the first couple of jupiter batches... but when they started building out their huge data center instead of allowing customers to buy any more, under the pre tense of 'network protection' they started offending customers.. and now that they've delayed the neptune and offered everyone some poor second fiddle options that turned out to be less than acceptable (frankenjups arriving in pieces) and no longer allowing refunds.

And what about avalon?  oh yea, they also delayed and failed to ship most of batch 2 and all of batch 3.  and made people wait months while they hashed with it themselves.

you missed out a few.. how about bitmine?  promised october, and still not shipping to this day.  and no refunds.   blackarrowsoftware?  and a whole slew of others I've forgotten to mention...  

and you claim cointerra overcharged?  you think so?  they were and still are one of the cheapest thats actually shipping.  their price per gigahash back when they took the orders was way less than anyone else's at the time - way less than what hashfast charged ($14/gh), and kncminer charged ($17.5/gh).. and what did cointerra charge most of the customers?   most of them paid a little over $3/gh, except the first batch, that paid a little more (and were compensated by getting two machines instead of one, AND front of line delivery).   at the time of sales, and yes, even at the time of delivery.. cointerra was one of the lowest cost miners - per gigahash - on the market so you can't possibly argue they overcharged when compared with everyone else they were much much less expensive.

So go take a look at the bitcoin mining hardware companies out there - and make a list - and lets pretend the awful ones are in hell and the perfect ones are in heaven, and you tell me where cointerra is on that scale.  they sure aren't the devil.  maybe they're not a saint either, but they're nowhere near the bottom of the pile compared to most of the company they keep.   whose in heaven?  spondoolies maybe (but they're very recent and weren't shipping until recently).  what about asicminer?  sure, they're good.. but they've been uncompetitive for awhile and their prices per gigahash and power consumption made cointerra's look like the biggest bargain ever.

then there's the refund policy.  sure, they didn't encourage refunds.. but everyone who took delivery of their underperforming miner was offered a refund, or had the chance to get a refund instead of a delivery of the miner.  AND everyone who took delivery was offered compensation in the form of discount on a future order.   So, you really think you can sue them even though your ultimate recourse was to ask for a refund and you wouldve got one (as several customers did)- cointerra is one of the only companies i know of who allowed refunds (not encouraged them, mind, but allowed them)...   then there's the sales contract and terms and conditions?  if you ordered something from cointerra, then you agreed to their t's & c's when you placed the order.  it specified that if you have a beef with them, you work it out in arbitration.  that doesn't allow you to do a class action.  you have no grounds to do it.  or are you going to lie in court and say you ordered it from their online store without agreeing to their terms and conditions of sale?

ok, there's my devils advocate thoughts.  i hope i could show that there's two sides to every story.


All that drama.

While good old ASICMiner, a true public Bitcoin company that is 40% community owned, keeps a low profile and is shipping their new chips for prices the "overseas market" has not even comprehended yet.

They are now able to ship 2PH in a shipping container for <$900/TH. All that's needed is power and internet, everything else included.

ASICMiners track record (just to name a few):

- Designed and delivered the first ASIC chip
- In time, up to specs
- Publicly funded, despite the setbacks of early days (GLBSE etc)
- Has never taken a single order for a product they didn't have in stock
- Has therefore never disappointed anyone with under-delivering specs
- Cannibalistic crowd funding is literally a foreign word to them
- Has intentionally skipped a hardware generation not to engage in costly competition over nothing
- Is now again delivering (as in 'shipping') the most efficient chip (efficient as in price/performance/etc).
- Invented a new way to deploy Bitcoin clusters with immersion cooling
- Can build 2PH gen3 1.2MW clusters for <$900/TH in shipping containers with a delivery of 3 months
- Can follow up with gen4 plug-and-play clusters for $0 additional cost, as they plug into the same immersion cooled containers
- Has resellers, board designers and franchise partners all over the world
- their network can produce and deploy tens of thousands of boards per year (air or immersion, no matter what)

Talk about ahead of the game.

Friedcat for president  Grin
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June 10, 2014, 08:05:04 PM
 #24

There are hundreds of posts on the forum if you are inclined to find out more about what has happened. Just remember that there are often two side to every story.

forum is no longer available  Undecided
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June 23, 2014, 10:40:07 PM
 #25

So how DO I join the class action lawsuit.  They are at this point late on my "May Batch" of the 2TH/s COINTERRA IV model.  NOT A SINGLE reply (other than automated messages) to my voice and e-mails.  And now, I read that the units are NOT 2TH/s and consume far more power than advertised.  Am I out of $6K?  (Don't blame anyone but myself, actually....)

There are hundreds of posts on the forum if you are inclined to find out more about what has happened. Just remember that there are often two side to every story.

forum is no longer available  Undecided
LongAndShort
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June 24, 2014, 09:49:50 PM
 #26

Dammit this is where you guys are i want in on a class action too i bought in for jan batch and think we should be compensated better pm me or tell me here if you have something going or want to start something..I live in Melbourne Australia
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June 25, 2014, 07:26:57 AM
 #27

Hi guys, where can I join the suit?

Prepare to enter a world of stress
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June 28, 2014, 08:05:06 AM
 #28

I'm in. I ordered something that I thought was going to be 2 THS for their "special" price. After running my machine for almost 2 months, this machine is a piece of shit. It fluctuates like crazy and doesn't perform well. Even their "dashboard" is a lie. Hash power reported on their dashboard is not the same received from the mining pools. What's worse is that the day I ordered my machine, they slashed the price by $1500 the next week.

1. Doesn't perform at advertised numbers
2. Fluctuates
3. Draws more power than advertise

Aerobic is a shill that invested in Cointerra.
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August 02, 2014, 08:22:19 PM
 #29

Same here,  I purchased a Terraminer IV in November 2013 for $5999 + UK Import taxes and shipping (Early January Batch)

1.6TH (now 1.2Th as 1 asic is dead)
2050 Watts (nearly double the power costs although that has reduced a little as 1 a sic is dead)

I would like some for of compensation for this, but I cannot even get a response from Cointerra.

Aside from the late delivery 2 months late (It was delivered mid March so I missed out on around 16BTC) This has been the worst experience with a manufacturer that I have ever had.

Please tell me how to join in the class action suit.

G Smiley

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maras49
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September 14, 2014, 04:12:48 PM
 #30



Hi, I bought two Miners from COINTERRA and like Allegro of us instead of 2T received osły 1,6 T.
Please letni me know how to join to lawsuit against cointerra??Can You ADHD me?
best regards
Marek
stepienmarek3@gmail.com
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September 14, 2014, 04:50:59 PM
 #31

Same here,  I purchased a Terraminer IV in November 2013 for $5999 + UK Import taxes and shipping (Early January Batch)

1.6TH (now 1.2Th as 1 asic is dead)
2050 Watts (nearly double the power costs although that has reduced a little as 1 a sic is dead)

I would like some for of compensation for this, but I cannot even get a response from Cointerra.

Aside from the late delivery 2 months late (It was delivered mid March so I missed out on around 16BTC) This has been the worst experience with a manufacturer that I have ever had.

Please tell me how to join in the class action suit.

G Smiley

You are lucky that you got anything at all. Look at the Blackarrow situation. Over 7 months late and X3 miners finally started shipping in late August to only have the company ask people to stop mining due to fire issues. You think Cointerra is bad? I bet many in the Blackarrow boat wish they were in your situation.
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September 19, 2014, 06:58:32 PM
 #32

Same here,  I purchased a Terraminer IV in November 2013 for $5999 + UK Import taxes and shipping (Early January Batch)

1.6TH (now 1.2Th as 1 asic is dead)
2050 Watts (nearly double the power costs although that has reduced a little as 1 a sic is dead)

I would like some for of compensation for this, but I cannot even get a response from Cointerra.

Aside from the late delivery 2 months late (It was delivered mid March so I missed out on around 16BTC) This has been the worst experience with a manufacturer that I have ever had.

Please tell me how to join in the class action suit.

G Smiley

You are lucky that you got anything at all. Look at the Blackarrow situation. Over 7 months late and X3 miners finally started shipping in late August to only have the company ask people to stop mining due to fire issues. You think Cointerra is bad? I bet many in the Blackarrow boat wish they were in your situation.

I dont feel lucky
I have same problems. some cpu get sick after mining and Thz get down to 1.1. Cointerra gives no respons. To much power consumption, performance far under estimate.
I like to join too.
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September 19, 2014, 07:06:00 PM
 #33

I'm interested in joining this lawsuit as well.

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September 26, 2014, 07:20:41 PM
 #34

I am glad I found this post. I might join as well.

They have declined to provide warranty support for my machines, does not perform to spec.

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