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Topic: Starting a new FPGA mining farm/contract! Cognitive Resurrected on[Havelock] - page 115. (Read 300762 times)

full member
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Du hast
Have those shares been pulled from the market last I checked they were still listed at .62 which we are approaching.

The shares Cognitive currently has for sale are not the same ones that have to be redeemed as COG.F shares. In previous posts I remember specifying that if those shares sell, then more will be issued to cover the COG.F transfers.

Although, you do bring up a good point: What should we do with the funds from the shares currently for sale? They were originally intended for purchasing Avalon units, so if they sell I think we should try to buy another Avalon pre-order from someone.

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.
legendary
Activity: 938
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What's a GPU?
Have those shares been pulled from the market last I checked they were still listed at .62 which we are approaching.

The shares Cognitive currently has for sale are not the same ones that have to be redeemed as COG.F shares. In previous posts I remember specifying that if those shares sell, then more will be issued to cover the COG.F transfers.

Although, you do bring up a good point: What should we do with the funds from the shares currently for sale? They were originally intended for purchasing Avalon units, so if they sell I think we should try to buy another Avalon pre-order from someone.
member
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Have those shares been pulled from the market last I checked they were still listed at .62 which we are approaching.
legendary
Activity: 938
Merit: 1000
What's a GPU?
I have sent out emails to a few people who offered to sell the units, and plan on purchasing two of them as of now, then letting the remaining ~30 coins sit aside for boards for our Avalon chips.

Yes Cognitive lost 100btc a long time ago because PatrickHarnett turned out to be a scammer who ran away with our deposit. We have learned from this, and are most likely only going to be investing in physical mining hardware hereafter.

Re: COG.F

The COG.F funds were used to purchase the said Avalon chips, and once they start hashing for us (Mid-Late August) the COG.F contracts will all be converted to Cognitive shares.

Cheers, these coming months are good times for Cognitive Smiley

--Garrett
hero member
Activity: 634
Merit: 500
  We should be investing our reserve coins rather then just having them sit idle. 


Buying mining equipment is investing.

So I say yes.

sr. member
Activity: 434
Merit: 250
We can estimate value of avalon units from BASIC-MINING valuation Smiley

Current market cap is 10050 BTC (5000 shares @2.1. BTC).

We can remove liquid assets out of equation (as creativex can simply sell them and pay dividends):

1247 BTC
100 ASICMINER shares @3.5 BTC each: 350 BTC

What's left is 8453 BTC, attributed to 4 GPUs, 3 avalon units and creativex's creativity Smiley

That's 2800 BTC per unit.

If Garr's creativity isn't any less, it totally makes sense to buy avalon units then. This can double or triple market cap Smiley

On the other hand, value of 1 Mh/s PMB on the market is about 0.004-0.005 BTC. Thus if maintenance was free, value of 80 Gh/s unit would be 320 BTC. So if you believe that electricity and amortization cost is less than 230 BTC over lifetime, it's worth buying.

Thanks for the breakdown. Would you say an in hand batch 2 Avalon(or two) deserve a premium over a batch 3 second hand pre-order?

Trolls aside, I think you should definitely do this Garr if you can find a trustworthy source for a batch 3 pre-order at that price. Presumably this is a 3 module Avalon?
member
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Any updates on COG.F?  What is happening with those funds? 
legendary
Activity: 1022
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We can estimate value of avalon units from BASIC-MINING valuation Smiley

Current market cap is 10050 BTC (5000 shares @2.1. BTC).

We can remove liquid assets out of equation (as creativex can simply sell them and pay dividends):

1247 BTC
100 ASICMINER shares @3.5 BTC each: 350 BTC

What's left is 8453 BTC, attributed to 4 GPUs, 3 avalon units and creativex's creativity Smiley

That's 2800 BTC per unit.

If Garr's creativity isn't any less, it totally makes sense to buy avalon units then. This can double or triple market cap Smiley

On the other hand, value of 1 Mh/s PMB on the market is about 0.004-0.005 BTC. Thus if maintenance was free, value of 80 Gh/s unit would be 320 BTC. So if you believe that electricity and amortization cost is less than 230 BTC over lifetime, it's worth buying.
legendary
Activity: 947
Merit: 1008
central banking = outdated protocol
We tried investing before...
Yes, as much as I love losing 100 BTC...I think the minimal interest isn't worth the risk.

I vote Yes.

Agreed and a yes vote here on the avalon. Funds should be spent on increasing hashing power as soon as the right buying opportunity presents itself, not loaning it out or risking on other investments.
member
Activity: 109
Merit: 10
We tried investing before...
Yes, as much as I love losing 100 BTC...I think the minimal interest isn't worth the risk.

I vote Yes.
hero member
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0xFB0D8D1534241423
We tried investing before...
hero member
Activity: 697
Merit: 501
I vote yes.

Are the coins we have earning interest in any way? Such as using CoinLenders, bonds, or AM shares?

I was also wondering about this point.  We should be investing our reserve coins rather then just having them sit idle. 

I also vote yes to purchasing the Avalon chips.  Time is so critical at this point and we may never have an opportunity this good again.
 
member
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Merit: 10
I vote yes.

Are the coins we have earning interest in any way? Such as using CoinLenders, bonds, or AM shares?
sr. member
Activity: 267
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newbie
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legendary
Activity: 938
Merit: 1000
What's a GPU?
How much do we have in the bank?

~BTC230 and growing every week Smiley
hero member
Activity: 634
Merit: 500
informally poll shareholders here: Do you think we should purchase ~80gh Avalons for 80-90 coins each?

My vote is yes; they are supposed to be shipping very soon.

Cheers,
Garrett

How much do we have in the bank?
member
Activity: 110
Merit: 10
legendary
Activity: 938
Merit: 1000
What's a GPU?
"Shipping Singles SC's from Jun 23"

https://forums.butterflylabs.com/blogs/bfl_jody/

Does this mean our Singles are on the way or our FPGA's are in transit?

Our Singles weren't ordered until later, unfortunately. I'll definitely post an update when I get a shipping notification!

Also, there are at least two people who want to sell me their batch three Avalon order for 80-90 coins. There isn't enough time to raise a motion so I'll informally poll shareholders here: Do you think we should purchase ~80gh Avalons for 80-90 coins each?

My vote is yes; they are supposed to be shipping very soon.

Cheers,
Garrett
member
Activity: 109
Merit: 10
"Shipping Singles SC's from Jun 23"

https://forums.butterflylabs.com/blogs/bfl_jody/

Does this mean our Singles are on the way or our FPGA's are in transit?
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