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Topic: Starting a new FPGA mining farm/contract! Cognitive Resurrected on[Havelock] - page 114. (Read 300762 times)

legendary
Activity: 938
Merit: 1000
What's a GPU?
Garret, could you provide more details on the opportunity? When would you be able to receive these avalon units? And will you share this good news on btct Smiley?

We are currently negotiating a price (in Cognitive shares) for each unit. They are currently in possession of the seller so they would be hashing for us within a week of the purchase. I will certainly share the good news on btctc once we make the transaction Smiley

Will these shares be newly created or removed from treasury shares?  I'd prefer the latter as it wouldn't further dilute our shares and might take a dent out of that 1000 btc wall that is currently sitting at the .62 share price.

The latter is correct -- these are coming from the treasury shares, which will be beneficial to everyone.

The price we have agreed on is 900 shares for two avalons that hash at over 80gh/s each. I am going to send the 900 shares to JohnK to be our escrow, and the seller is going to send one of the units via 2 day expressmail. Once I recieve the first unit, JohnK will release half escrow and the next unit will be shipped.

I believe this is a great move for Cognitive, as we're actually going to be mining at a higher capacity instead of waiting around and sitting on hundreds of coins and shares!

Cheers,
Garrett
newbie
Activity: 19
Merit: 0
Garret, could you provide more details on the opportunity? When would you be able to receive these avalon units? And will you share this good news on btct Smiley?

We are currently negotiating a price (in Cognitive shares) for each unit. They are currently in possession of the seller so they would be hashing for us within a week of the purchase. I will certainly share the good news on btctc once we make the transaction Smiley

Will these shares be newly created or removed from treasury shares?  I'd prefer the latter as it wouldn't further dilute our shares and might take a dent out of that 1000 btc wall that is currently sitting at the .62 share price.
legendary
Activity: 938
Merit: 1000
What's a GPU?
Garret, could you provide more details on the opportunity? When would you be able to receive these avalon units? And will you share this good news on btct Smiley?

We are currently negotiating a price (in Cognitive shares) for each unit. They are currently in possession of the seller so they would be hashing for us within a week of the purchase. I will certainly share the good news on btctc once we make the transaction Smiley
full member
Activity: 191
Merit: 100
Garret, could you provide more details on the opportunity? When would you be able to receive these avalon units? And will you share this good news on btct Smiley?
legendary
Activity: 938
Merit: 1000
What's a GPU?
Recently I have been offered the opportunity to purchase two 80+ gh/s avalon units in exchange for the shares help by cognitive. This actually is exactly what the shares that are currently held by Cognitive were intended for, so as long as there are no objections to this, I will make the transaction and we will have increased our hashrate by multiple orders of magnitude Smiley

Maybe we should wait on what the next AsicMiner product is. Aren't they supposed to announce a new mini-blade and maybe other upgrades in the next couple days?

While I will openly consider this as an option, I would rather not feed competitors directly unless it is in our absolute best interest to do so.

--Garrett
member
Activity: 68
Merit: 10
Maybe we should wait on what the next AsicMiner product is. Aren't they supposed to announce a new mini-blade and maybe other upgrades in the next couple days?

Edit:

More like next couple hours. Anyone think these would be a good idea? ROI looks to be about 3 months.

https://bitcointalksearch.org/topic/m.2695650

Quote
rockxie just announced  the  new&mini blade. Here: http://vdisk.weibo.com/s/Jk4aV

new blade: 10GH/s=18.88BTC Group buy 18.68BTC
mini blade: 5GH/s=9.88BTC     Group buy 9.68BTC
hero member
Activity: 697
Merit: 501
What about our BFL chip credits?  Also did you hear back from any of the avalon unit sellers?

From how things are looking I believe it'd be best to sell our chip credits. I'm talking to a number of Avalon resellers right now and they are all wanting between 130-160 btc for an in-hand unit. I'm going to try to get one at the low end of that range.

Is there any argument on putting or BFL chip credits for sale?

Not from me. I dont think we should send bfl more money.
I completely agree.  I believe their (BFL's) incompetence and lack of progress is almost grounds for legal action at this point.
legendary
Activity: 938
Merit: 1000
What's a GPU?
What about our BFL chip credits?  Also did you hear back from any of the avalon unit sellers?

From how things are looking I believe it'd be best to sell our chip credits. I'm talking to a number of Avalon resellers right now and they are all wanting between 130-160 btc for an in-hand unit. I'm going to try to get one at the low end of that range.

Is there any argument on putting our BFL chip credits for sale?
newbie
Activity: 19
Merit: 0
What about our BFL chip credits?  Also did you hear back from any of the avalon unit sellers?
legendary
Activity: 938
Merit: 1000
What's a GPU?
Any news on the BFL or Avalon units?

Sadly I don't think anyone other than first day people have reported getting a unit.

Also Avalon has not sent out chips in bulk yet.

Please correct me if I am wrong.

That's correct, Goat.
member
Activity: 68
Merit: 10
Any news on the BFL or Avalon units?
full member
Activity: 222
Merit: 100
The time frame was 2013-06-30 00:33:20
hero member
Activity: 887
Merit: 1000
Can you guys give an update on whats expected with Cognative in the near future?  I own shares but have been out of the loop.  Aren't we expecting a few BFL singles soon?  What is the expected hashrate per share once these start going?

Thanks!
hero member
Activity: 784
Merit: 1000
0xFB0D8D1534241423
It's remarkable that COGNITIVE has done this well. IIRC, I first bought shares of COGNITIVE on the GLBSE at 0.4 BTC, when BTCUSD was $5. It's now $100, and COGNITIVE is still over 0.4 BTC.
full member
Activity: 222
Merit: 100
I saw that. I'm kicking myself for not picking up that 10 @ .3 now. Someone else did about 30 second later.
newbie
Activity: 3
Merit: 0
whoa, only one share actually sold at .14, but that was quite the black swan event. Shocked.  Not sure if it was linked to other selling that seemed to be across other stocks or not (we will never know).  Wish I had more dry powder to potentially buy more...I think someone just needed to cash out.
legendary
Activity: 938
Merit: 1000
What's a GPU?
How many of the shares on btct.co are still being offered by COGNITIVE? I assume it's most of the shares offered at BTC.615 or BTC.62.

Yes, currently there are 1611 shares for sale at 0.62. Cognitive's current holdings are publicly viewable at https://btct.co/portfolio/frc2

Cheers,
Garrett
member
Activity: 68
Merit: 10
How many of the shares on btct.co are still being offered by COGNITIVE? I assume it's most of the shares offered at BTC.615 or BTC.62.
full member
Activity: 251
Merit: 100
Du hast
I don't remember seeing a solution to staging. But the point is, the current COG.F holders have had those funds allocated for the Avalon chips, so in fairness if you raise more funds for another order, you would need to offer shares under a different ticker so no commingling happens when shares issue in CONGITIVE, as well as the market has placed a higher value to current COG.F warrants, I would imagine for time value as arrival of the Avalon chips will be sooner than an order placed today or near future.

I think you have a misunderstanding of how Cognitive and COG.F relate to one another. The funds raised by COG.F have already been used to order Avalon chips. Cognitive currently has extra funds, which should be used to purchase mining hardware very soon. Additionally, Cognitive has shares which have been on the market for a long time, at a price above what Cognitive has been previously traded at. We are now talking about what we should do with the funds raised from these shares in the event that they do sell.

Sorry for the confusion, does that make things clearer?

--Garrett

Yes, perfectly, I was not aware treasury shares were still being offered.
legendary
Activity: 938
Merit: 1000
What's a GPU?
I don't remember seeing a solution to staging. But the point is, the current COG.F holders have had those funds allocated for the Avalon chips, so in fairness if you raise more funds for another order, you would need to offer shares under a different ticker so no commingling happens when shares issue in CONGITIVE, as well as the market has placed a higher value to current COG.F warrants, I would imagine for time value as arrival of the Avalon chips will be sooner than an order placed today or near future.

I think you have a misunderstanding of how Cognitive and COG.F relate to one another. The funds raised by COG.F have already been used to order Avalon chips. Cognitive currently has extra funds, which should be used to purchase mining hardware very soon. Additionally, Cognitive has shares which have been on the market for a long time, at a price above what Cognitive has been previously traded at. We are now talking about what we should do with the funds raised from these shares in the event that they do sell.

Sorry for the confusion, does that make things clearer?

--Garrett
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