Cointerra Programma to Release Two Petahashes of Mining Power by December

The mining company Cointerra has announced its official launch today, suggesting what may be the most advanced Bitcoin mining hardware presently on the market. The company’s signature miner, the 2-TH/s TerraMiner IV, is eyeing its price diminished from $15,750 to $14,000, or a mere $7 vanaf GH/s – ten procent less than what shows up to be its main competition, the Butterfly Labs Monarch at $7.8 GH/s. Large-scale and industrial buyers will also be interested te its batch chip sales, suggesting the Ten TerraHash package for $57,400 ($Five.74 vanaf GH/s) and the 25 TerraHash package for $139,750 ($Five.59 vanaf GH/s), albeit it is significant to stress that thesis are chips and not utter devices, and for small-scale buyers the company is programma on introducing more affordable models soon. All ter all, the company aims to release Two PH/s – two petahashes, or Two,000 terahashes, of mining power by December – overheen three times spil much spil the current power of the entire Bitcoin network combined.

Cointerra also offers several other assures that make it stand out among mining companies. According to the press release, Cointerra’s consumer protection programs include:

  • Our December delivery commitment: If wij do not supply your confirmed December delivery within 30 days of our promise, wij will credit your account 20% of the hash power.
  • Customer Exchange. If you have a confirmed order and your circumstances switch, wij will help you find someone who would like to take your place te the queue for our products. While wij cannot assure there is a buyer for your order and place ter the queue, wij will do our best to help you find a uitzicht to buy your position.
  • Price protection on any undelivered orders. If wij lower the price of an existing december delivery TerraMiner mining equipment or ASIC TeraHash Package, wij will re-price all existing undelivered orders and suggest either a specie refund or larger and more valuable Hash Power credit. This means all existing orders will be re-priced to the fresh pricing based upon order quantity.

Thesis three ensures were designed to allay customers’ fears that they would see a repeat of previous Bitcoin mining mishaps, the very first two were motivated by the long delays of Butterfly Labs, which released their devices te April 2013 rather than October 2012 spil wasgoed originally intended, and the last ensure is a response to ASICMiner, which has diminished the prices on their Block Erupter USBs from an initial 1.99 BTC to a low of 0.175 BTC, making ASICMiner buyers who had made the purchase at the initial high price feel like they had bot cheated of their money. One assure that Cointerra does not make, but another business does, is that of Hashfast, spil their own pagina on the subject describes it:

If the Bitcoin network hashrate increases so that your Kindje Jet doesn’t generate more Bitcoins te ninety days than you paid for it, HashFast will give you extra ASICs. Ter fact, wij will give you up to 400% more hashing capacity than the Zuigeling Jet you purchased. Yes, that does mean that if you don’t make your money back ter 90 days, wij will increase your mining capacity to up to Two Terahashes!

Hashcash’s mining stats are also incredible, suggesting $11.Two vanaf GH/s ($Two.8 if the assure kicks ter) and shipping by October. Unluckily, however, their own mining equipments are presently sold out.

Te general, sheer growth of the Bitcoin mining economy is very amazing. Five months ago, ASICMiner chief friedcat wasgoed met with a large amount of disbelief when he claimed that the power of the Bitcoin network would increase to at least 1000 TH/s by the end of the year. Now, the network is at 600 TH/s already, and Cointerra’s eis of Two PH/s by December shows up downright uncontroversial by comparison. Two months ago, KnCMiner, with their $20 vanaf GH/s devices planned for shipping te October wasgoed all the rage, today, even they have slipped into the background spil Butterfly Labs’ Monarch and now the TerraMiner have taken center stage.

The security of the Bitcoin network is enhancing rapidly spil a result. Taking an estimate of 1 MH/s vanaf CPU, the Bitcoin network’s current hashrate of 600 TH/s is now so powerful that a botnet seeking to overpower the Bitcoin network and climb on a 51% attack would need to literally take overheen almost every pc ter the world to be effective. And once Cointerra’s two petahashes come ter, the threat of botnet takeover will be outright unlikely. From here, it’s simply a matter of enhancing the cost of a successful attack. So far, most people attempting to estimate this cost embark out by attempting to figure out how much money it would take to purchase the right amount of ASICs or develop a fabrication facility te house – however, this is a very difficult thing to do accurately. A more successful alternative strategy is to instead measure the “opportunity cost” – the potential profit of using the amount of mining power needed to pull off an attack honestly, which would be thrown away by using the power to attack Bitcoin instead. Resallex has an automatic zakjapanner that does this, presently the price stands at $400 million, out of reach of the annual military budget of half of all governments te the world. Some of Resallex’s estimates are questionable, the 8% annual discounting rate on future comes back, for example, is far too low given the inherent risk te the Bitcoin economy, and a more reasonable estimate of 20% would give Bitcoin a “takedown cost” of $150 million. Ter either case, however, the Bitcoin network is clearly becoming a force to be reckoned with.

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