Great!
Additionally, we have the option to order from BitFury, who I have received sample chips from already and I believe to be a very good option currently. We can order 400gh/s from them, guaranteed to be delivered in October, for ~BTC100
Topic: Starting a new FPGA mining farm/contract! Cognitive Resurrected on[Havelock] - page 108. (Read 300686 times)
July 20, 2013, 06:34:34 PM
July 20, 2013, 06:22:08 PM
Additionally, would anyone here be interested in lending to Cognitive via a nearly identical method as this? [FUNDED]NASTY MINING: 500GH/s Miner Loan
That was a fantastic way for them to raise funds, and we have the ability to do the exact same thing because we too have a 25% discount coupon.
I will pledge BTC50 of my own funds to do this. If there is enough interest here we can go ahead and raise funds for a MiniRig
That was a fantastic way for them to raise funds, and we have the ability to do the exact same thing because we too have a 25% discount coupon.
I will pledge BTC50 of my own funds to do this. If there is enough interest here we can go ahead and raise funds for a MiniRig
If you decide to do this we would chip in.
July 20, 2013, 05:20:02 PM
Additionally, would anyone here be interested in lending to Cognitive via a nearly identical method as this? [FUNDED]NASTY MINING: 500GH/s Miner Loan
That was a fantastic way for them to raise funds, and we have the ability to do the exact same thing because we too have a 25% discount coupon.
I will pledge BTC50 of my own funds to do this. If there is enough interest here we can go ahead and raise funds for a MiniRig
That was a fantastic way for them to raise funds, and we have the ability to do the exact same thing because we too have a 25% discount coupon.
I will pledge BTC50 of my own funds to do this. If there is enough interest here we can go ahead and raise funds for a MiniRig
July 20, 2013, 02:47:00 PM
Well I voted no an the reason why is people will just sell the shares and thus put downward pressure on the stock price.
Why not do it the way liek cog.f?
I voted no. I also think COG.F is a better way.Why not do it the way liek cog.f?
Since not all sellers are comfortable with selling their rigs for pure shares, their will want to sell part of these shares on market.
If we can do it half and half, say issue 1000 shares and gather some BTC through something similar to COG.F.
In this way, we can give the seller the number of shares they intend to hold, and pay for the rest in BTC, so that we can minimize our downward pressure.
I agree with this and a motion for another round of COG.F is coming. I do not plan to trade shares to people who intend on dumping them for BTC, as that would defeat the purpose here.
Cheers,
Garrett
July 20, 2013, 01:31:44 PM
Well I voted no an the reason why is people will just sell the shares and thus put downward pressure on the stock price.
Why not do it the way liek cog.f?
I voted no. I also think COG.F is a better way.Why not do it the way liek cog.f?
Since not all sellers are comfortable with selling their rigs for pure shares, their will want to sell part of these shares on market.
If we can do it half and half, say issue 1000 shares and gather some BTC through something similar to COG.F.
In this way, we can give the seller the number of shares they intend to hold, and pay for the rest in BTC, so that we can minimize our downward pressure.
July 20, 2013, 01:28:47 PM
2000 shares could probably buy 3 Minirigs, if negotiated well. This is why I've voted yes. ~16% dilution for a 400% increase in hashrate. That's a great deal for all shareholders.
This is a very solid piece of reasoning, IMO. Sounds like even if it only bought 2 minirigs it'd be a good deal for shareholders then, or some other hardware worth similar GH/s.
July 20, 2013, 12:09:04 PM
2000 shares could probably buy 3 Minirigs, if negotiated well. This is why I've voted yes. ~16% dilution for a 400% increase in hashrate. That's a great deal for all shareholders.
July 20, 2013, 11:16:41 AM
Well I voted no an the reason why is people will just sell the shares and thus put downward pressure on the stock price.
Why not do it the way liek cog.f?
Why not do it the way liek cog.f?
If the value for cognitive shares is there, downward pressure from sales should have little effect on long term market price.
July 20, 2013, 04:22:48 AM
Vote here: https://btct.co/security/COGNITIVE#tab5
Cognitive has recently made numerous succesful and effective purchases of high-powered mining hardware using treasury shares. I believe that it will be in our best interest to issue more treasury shares to have ready to be spent on hardware.
If this motion passes, 2000 (two-thousand) shares will be issued to Cognitve's treasury account. The shares will not be put up for sale publicly, and will be reserved only for purchasing hardware directly for shares. Dividends will not be paid to these shares until they are transfered out of the treasury account when used to purchase hardware, so dividends will not be dilluted because of these shares.
Between these treasury shares, and our exponentially increasing hashrate due to our growth fund, one can estimate that this will cause a rise in share value, therefore it is in our best interest to do.
Cheers,
Garrett
Cognitive has recently made numerous succesful and effective purchases of high-powered mining hardware using treasury shares. I believe that it will be in our best interest to issue more treasury shares to have ready to be spent on hardware.
If this motion passes, 2000 (two-thousand) shares will be issued to Cognitve's treasury account. The shares will not be put up for sale publicly, and will be reserved only for purchasing hardware directly for shares. Dividends will not be paid to these shares until they are transfered out of the treasury account when used to purchase hardware, so dividends will not be dilluted because of these shares.
Between these treasury shares, and our exponentially increasing hashrate due to our growth fund, one can estimate that this will cause a rise in share value, therefore it is in our best interest to do.
Cheers,
Garrett
July 19, 2013, 06:30:38 PM
quick comparison between bASIC and Cognitive:
bASIC mining - 51625 outstanding shares -
Total hashrate: 925 Gh/s now
Hashrate/share: 180 Mh/s now
Price: 0.73BTC
Cognitive - 10420 outstanding shares
Total hashrate: 393 Gh/s now, 813 Gh/s when BFL delivers.
Hashrate/share: 377 Mh/s now, 780 Mh/s later.
Price: 0.75BTC
What did I miss?
bASIC mining - 51625 outstanding shares -
Total hashrate: 925 Gh/s now
Hashrate/share: 180 Mh/s now
Price: 0.73BTC
Cognitive - 10420 outstanding shares
Total hashrate: 393 Gh/s now, 813 Gh/s when BFL delivers.
Hashrate/share: 377 Mh/s now, 780 Mh/s later.
Price: 0.75BTC
What did I miss?
Maybe a comma?
.b
July 19, 2013, 03:53:52 PM
July 19, 2013, 03:53:21 PM
quick comparison between bASIC and Cognitive:
bASIC mining - 51625 outstanding shares -
Total hashrate: 925 Gh/s now
Hashrate/share: 180 Mh/s now
Price: 0.73BTC
Cognitive - 10420 outstanding shares
Total hashrate: 393 Gh/s now, 813 Gh/s when BFL delivers.
Hashrate/share: 377 Mh/s now, 780 Mh/s later.
Price: 0.75BTC
What did I miss?
bASIC mining - 51625 outstanding shares -
Total hashrate: 925 Gh/s now
Hashrate/share: 180 Mh/s now
Price: 0.73BTC
Cognitive - 10420 outstanding shares
Total hashrate: 393 Gh/s now, 813 Gh/s when BFL delivers.
Hashrate/share: 377 Mh/s now, 780 Mh/s later.
Price: 0.75BTC
What did I miss?
After (or if ever) BFL delivers Cognitive shares will be further dilluted by COG.F conversion. I think you should add 2000 additional shares to current number, if my calculation s correct.
COG.F Contracts will be converted after the Avalon chips are delivered and hashing in September. That is a variable not even included in the above calculation; Our BFL orders have nothing to do with COG.F
Cheers
July 19, 2013, 03:45:36 PM
quick comparison between bASIC and Cognitive:
bASIC mining - 51625 outstanding shares -
Total hashrate: 925 Gh/s now
Hashrate/share: 180 Mh/s now
Price: 0.73BTC
Cognitive - 10420 outstanding shares
Total hashrate: 393 Gh/s now, 813 Gh/s when BFL delivers.
Hashrate/share: 377 Mh/s now, 780 Mh/s later.
Price: 0.75BTC
What did I miss?
bASIC mining - 51625 outstanding shares -
Total hashrate: 925 Gh/s now
Hashrate/share: 180 Mh/s now
Price: 0.73BTC
Cognitive - 10420 outstanding shares
Total hashrate: 393 Gh/s now, 813 Gh/s when BFL delivers.
Hashrate/share: 377 Mh/s now, 780 Mh/s later.
Price: 0.75BTC
What did I miss?
After (or if ever) BFL delivers Cognitive shares will be further dilluted by COG.F conversion. I think you should add 2000 additional shares to current number, if my calculation s correct.
July 19, 2013, 02:14:06 PM
quick comparison between bASIC and Cognitive:
bASIC mining - 51625 outstanding shares -
Total hashrate: 925 Gh/s now
Hashrate/share: 180 Mh/s now
Price: 0.73BTC
Cognitive - 10420 outstanding shares
Total hashrate: 393 Gh/s now, 813 Gh/s when BFL delivers.
Hashrate/share: 377 Mh/s now, 780 Mh/s later.
Price: 0.75BTC
What did I miss?
bASIC mining - 51625 outstanding shares -
Total hashrate: 925 Gh/s now
Hashrate/share: 180 Mh/s now
Price: 0.73BTC
Cognitive - 10420 outstanding shares
Total hashrate: 393 Gh/s now, 813 Gh/s when BFL delivers.
Hashrate/share: 377 Mh/s now, 780 Mh/s later.
Price: 0.75BTC
What did I miss?
Couple of additional differences:
BM pays out 70% vs Cog 50% in Dividends
BM also has over 1000 BTC in reserves
Both funds look very promising at this point though and the owners have been actively adding to their hashing power.
What is the point of having idle fund sitting there, and issue more shares to dilute people's holding?
Diluting the company 3.25% to double the hash rate is far cheaper than spending coin. Basic math (or in bitcoin terms, maths)
July 19, 2013, 02:08:30 PM
quick comparison between bASIC and Cognitive:
bASIC mining - 51625 outstanding shares -
Total hashrate: 925 Gh/s now
Hashrate/share: 180 Mh/s now
Price: 0.73BTC
Cognitive - 10420 outstanding shares
Total hashrate: 393 Gh/s now, 813 Gh/s when BFL delivers.
Hashrate/share: 377 Mh/s now, 780 Mh/s later.
Price: 0.75BTC
What did I miss?
bASIC mining - 51625 outstanding shares -
Total hashrate: 925 Gh/s now
Hashrate/share: 180 Mh/s now
Price: 0.73BTC
Cognitive - 10420 outstanding shares
Total hashrate: 393 Gh/s now, 813 Gh/s when BFL delivers.
Hashrate/share: 377 Mh/s now, 780 Mh/s later.
Price: 0.75BTC
What did I miss?
Couple of additional differences:
BM pays out 70% vs Cog 50% in Dividends
BM also has over 1000 BTC in reserves
Both funds look very promising at this point though and the owners have been actively adding to their hashing power.
What is the point of having idle fund sitting there, and issue more shares to dilute people's holding?
July 19, 2013, 11:20:19 AM
There are both very promising indeed.
Still, this is the time to ride the AMC rollercoaster :p (just for a few hours)
Still, this is the time to ride the AMC rollercoaster :p (just for a few hours)
July 19, 2013, 11:16:48 AM
I am bullish on both of these funds and think they are doing a very good job.
agree
July 19, 2013, 11:08:38 AM
quick comparison between bASIC and Cognitive:
bASIC mining - 51625 outstanding shares -
Total hashrate: 925 Gh/s now
Hashrate/share: 180 Mh/s now
Price: 0.73BTC
Cognitive - 10420 outstanding shares
Total hashrate: 393 Gh/s now, 813 Gh/s when BFL delivers.
Hashrate/share: 377 Mh/s now, 780 Mh/s later.
Price: 0.75BTC
What did I miss?
bASIC mining - 51625 outstanding shares -
Total hashrate: 925 Gh/s now
Hashrate/share: 180 Mh/s now
Price: 0.73BTC
Cognitive - 10420 outstanding shares
Total hashrate: 393 Gh/s now, 813 Gh/s when BFL delivers.
Hashrate/share: 377 Mh/s now, 780 Mh/s later.
Price: 0.75BTC
What did I miss?
Couple of additional differences:
BM pays out 70% vs Cog 50% in Dividends
BM also has over 1000 BTC in reserves
Both funds look very promising at this point though and the owners have been actively adding to their hashing power.
A bit misleading if the other 50% is reinvested in hardware. That is a plus to most of us.
True - it was not meant to mislead, but I was pointing out that for a dividend investor BM was paying out more at the current hash rates and difficultly level. That combined with the reserves that BM has provides adequate growth opportunity.
COG - " 50% of mining revenue will be distributed proportionally among shareholders as dividends, and 50% of mining revenue will be added to our growth fund"
BM - "70% of all revenue generated by bASIC-MINING will be distributed to shareholders on a daily basis. To ensure that bASIC-MINING can continue to grow and remain competitive as the BTC network grows, 30% of mining revenue will be held in reserve to purchase new hardware."
I am bullish on both of these funds and think they are doing a very good job.
July 19, 2013, 09:48:09 AM
What was the price paid for goat's BFL single? Also how many BTC are left in the growth fund?
much less than originally agreed to
but im a significant cog share holder so whatever is best for the company....
Yea, it was a very awkward situation and I don't envy either party. I'm just looking for some transparency on the deal so I can better assess the value of the company.
200 shares, but when they were worth much less than now.
I though the treasury shares dropped faster than they should have. Makes sense now, thanks.
July 19, 2013, 09:44:11 AM
What was the price paid for goat's BFL single? Also how many BTC are left in the growth fund?
much less than originally agreed to
but im a significant cog share holder so whatever is best for the company....
Yea, it was a very awkward situation and I don't envy either party. I'm just looking for some transparency on the deal so I can better assess the value of the company.
200 shares, but when they were worth much less than now.
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