Topic: Starting a new FPGA mining farm/contract! Cognitive Resurrected on[Havelock] - page 121. (Read 300686 times)

Dividend accidentally not get put in again?

Dividends today?  Did I miss some news about this?

I want to clarify the above post, as there is some potential confusion. We are not shipping yet. We plan on shipping possibly by the end of next week, but I will update on a shipping schedule as soon as I have more definitive information with regards to that.

15 April 2013 Update

Short update today, more to come in the next day or two, hopefully.

We've been working on getting the software and firmware nailed down. Things are mostly stabilized at this point and with our current boards (we do not have the redesigned boards in house yet), power usage exceeds the 1w/GH, unfortunately, but it's much better than anything out by 40 - 50%, at the wall. We are gearing up to start shipping out some dev boards and a few Jalapeno's most likely this week (at least a few dev boards) and then as more chips roll in we'll be shipping out the Jalapeno's. When the new boards land in KC, we'll start shipping Little Singles and Singles at that time. I don't currently have a time frame for those, but I should have something later this week in regards to that.

Obviously, the minirig can't fit 1.5 TH/s in a case the size of what we were planning, but we have some interesting solutions with regards to that. Expect and update on there as well, but I did want to let everyone know we have several solutions to solve the minirig issue and we are moving forward on that front.

I did want to quash any rumors that there was something wrong with the chips; there isn't. The chips themselves are fine (other than using more power than we expected), the delay is strictly due to having to re-engineer the power system on the boards (which requires a larger PCB redesign to a degree) and refine/streamline our processes for getting chips from silicon to mounted on boards. Things will be rolling along soon, albeit a bit slow at first, and then picking up speed as the whole process is optimized and finalized.

Also, to only price Cognitive in BTC is a mistake.  I have been pricing everything in my local currency as can be seen in my earlier posts.  As an article today better explains than I could ever:

Im a significant holder now due to what i think is undervalued stock. So im looking forward to bfl shipping.

Actually I think you'll find part of the reason for the discount on Cognitive shares IS the existence of COG.F.  Cognitive shares will tend to fall until they're slightly above COG.F.  They've likely fallen too far - but in the recent bull market for BTC nearly all share prices have been taking a kicking (ASICMINER being the notable exception).  Certainly, at a MINIMUM, Cognitive should be trading at .125 + the expected dividends to be paid out until COG.F hardware arrives.

That's unless someone has done the math and determined that even with the COG.F hardware it's still overpriced at .125.  I haven't actually done the math for Cognitive on that - but it's not impossible.  The approximate value of Cognitive ignoring COG.F is the cost of 7 Singles equivalent at the new prices + the 2nd-hand value of the existing mining gear converted into BTC and divided by the outstanding shares.  As that's what it would cost to order that hardware now.  That would then need to be marked up because it's an already running company with infrastructure in place and a solid reputation.  And further marked up because pre-orders already in place are worth more than new orders.  But that's how I value mining companies - haven't actually done it for Cognitive yet though (I've been lazy and been trading it based on a floor price of around .12).

To put things simply: every good in Bitcoinia is an import and every job must be offshored. In that kind of economy, exchange-rate volatility matters a very great deal indeed.

I think I'm glad to hear it Re: no-split. The only concern I have is that when the IPO was issued it was a very nice discount against the main-fund shares (even including the potential hit from the dilution), but at the moment there's almost zero liquidity in the fund shares and the discount doesn't really exist.

I hold a fair bit of COG.F (relative to the 31 shares sold so far) and balance future purchases against the main-issue price and ASICMINER. ASICMINER has a lot of future hashing power already priced in (although I think it's still cheap), whereas it seems to me that COGNITIVE is being discounted heavily, perhaps based on the lack of certainty in the BFL timeline.

That is correct. The 7 SC Singles are unrelated to COG.F.

Davos, the intent of COG.F was to provide investors incentive to make substantial investments, while maintaining a competitive price. A split would defeat those purposes (or at least one of them).

I believe when the Bitcoin exchange rate stabilizes a bit, the cognitive price will rise as well. Because after all we're generating roughly the same amount of btc regardless what the exchange rate is Also when BFL delivers I believe Cognitive price will rise.

Best,
Garrett

My understanding (garrett can correct this) is that COG.F will remain a separate fund until the funds have been spent and until the equipment purchased with those funds is hashing.

will COG.F be converted to cognitive shares upon delivery of the 7 BFL singles or is it some other conditions?

Re: First BFL ASIC! thread: is this where we all party? Share price for the main Cognitive fund is already back up to 0.29. Good news..