Read cyberjock's guide (linked to in his signature).
Data loss is always an option unless you're backing up the data somewhere. RAID isn't backup. A power supply can explode and take out your whole array. There are several things you need to consider. Here are some:
- If you have to replace a disk, how long do you want to run with reduced functionality? If you have 4TB discs, reaplacing a disk (resilvering) is going to take a LONG time. The bigger the vdev, the longer it'll take. For that reason, folks commonly try to keep vdevs down to 6 drives.
- Efficient RAID-Z2 (can lose up to 2 drives and still have your data) layouts are 4, 6, and 10 drives. But be aware of the aforementioned rebuild times if you lose a drive in a 10-drive vdev.
- Losing more drives than your vdev can tolerate results in all data in the POOL being lost, not just that vdev.
How'd you settle on 16 drives? Is 18 an option? (3@6x4TB in RAID-Z2) You can also do 2@6x4TB + 1@4x4TB in RAID-Z2.
Remember when calculating available storage that to covert the number of data drives you'll have (minus the parity drives) to TiB by multiplying by 0.90. So a 4TB drive becomes 3.6TB, minus more space for ZFS formatting and overhead (swap space).