Topic: Starting a new FPGA mining farm/contract! Cognitive Resurrected on[Havelock] - page 122. (Read 300686 times)

Thanks for the kind words, stochastic and silverfuture


Yeah thanks, and that's exactly what it'll be going toward (although I'm very bullish so I won't be selling until the bill comes ).

Also just to avoid confusion: the preorders I am selling are mine personally, that I bought with my own funds and they have no association with Cognitive. I wouldn't undermine our company like that.


I say yes, but I'm always bullish when it comes to bitcoin mining.

These are some fun times for bitcoin!

If true, yes it is. I think it is but maybe that's just false hope.

Garrett, congrats on selling that Jally.  I'm assuming they paid for the SC upgrade too.  That'll cover a year of school if you cash out now

and still....
isnt that bullish to COGNITIVE and COG.F ?

@silver - update yesterday from Josh from BFL

https://forums.butterflylabs.com/announcements/692-bfl-asic-status-2.html

post #20

He promises 1. to post a vid in 3 days and 2. to ship the hiigher wattage asics if client so desires... 3. even these would presumably outperform anything on the market Josh says...

no way of telling how much is truth...

 

Agree completely. I'm not being critical of anyone's management as I think Garrett has done as good a job as could be expected with all of the variables and unknowns to consider.  Some of the current policy changes will take a little time to have an effect and if those bfl asic come soon enough we'll be in a great position to do very well both short and long term.  I'm really looking at investing more into cognitive but that uncertainty over bfl shipping is a real kicker considering i'm already in relatively deep. It's still probably one of our best chances at getting asic profits within a reasonable time considering the price and shipping dates of asics these days.

I agree with your statement but one thing that a pure bitcoin investment cannot do is pay dividends every week to the owners of bitcoins.  If bitcoins continue is appreciation other people might buy into bitcoin at increasingly higher prices but a mining fund would consistently get more bitcoins from their initial investment.  This fund was hit when more shares were used to purchase the BFL ASIC.  It cut the dividend per share because their were extra shares but no extra incoming revenue.  At that point the dividend being paid out could not be the only metric for the book value of the fund.  There is also the value of those ordered ASIC that need to be taken into consideration when pricing the fund.  There is also the bitcoins held in reserve that the fund has.  It may use those bitcoins to purchase more ASIC but it could also just pay a large dividend as well if that is more beneficial.  Another important thing is how the fund is well managed.  Just look at some other funds (ex. BITBOND) and see how much risk a bad manager can add to your investment.

I would not be surprised in the future that as the ASIC are delivered and as the fund grows less of the fund's bitcoin revenue will need to be held in reserve for future growth.  Once the fund becomes a growth fund then investors will not have to worry about share dilution and their initial investment may outperform bitcoin's rate of appreciation.

Yes.

Are these the 60GH/s singles?

Just double checking.

Where did you come to the 500+ per coin figure?

If bitcoin doubles in value compared to the usd how can any legal investment do better than bitcoin? If you want companies to straight outperform bitcoin that may never happen for more than a few months at the very least we will need to see 500+ per coin.

Although that is true and worth considering, we need to get to a point where btc denominated investments do (at least slightly) better than just holding bitcoin.  We're not there yet by my rough estimations. 

I'd also like to point out that the value of BTC has gone up substantially in the last few weeks. Even though Cognitive shares are worth less BTC now than when I bought in, they actually have a higher USD value.

The BFL orders were placed in the middle of last year. I'd give you the exact date and order number but Bit-Pay's invoice system is down right now so I can't check at the moment. Scratch that -- I just remembered BFL has a new invoice system of their own

The order was placed on 7/14/12 and it is # 3277. I just checked and the order numbers are up to above 10,000 now so it's safe to say we got in fairly early!

The shares to be delivered to COG.F holders will first come from the Cognitive holdings originally intended to be sold for Avalons (as per the final GLBSE motion) and then new shares will have to be issued to meet the COG.F demands. The Cognitive portfoio is public and can be viewed at https://btct.co/portfolio/frc2



Well said, Code_red.

I'll cover what he missed. COG.F contracts will be converted to COGNITIVE shares upon arrival of hardware purchased with the COG.F funds. Because of this, your dividends will be higher while hardware delivery is pending, and ultimately your shares will be worth more, because of the newly acquired hardware.

For more specifics, please refer to the motions and contracts (as Code_red and others have done) here and here.

If you have any other questions, I'm always happy to answer.

--Garrett

lol your unhappy with the way cognitive is being run? Then sell it don't complain here if you don't know what your referring to. Do you see something Garr could be doing that he is not? If so we would all love to here it. If not please don't fill the thread with unfounded complaints.
On the other hand anyone who invested in Cognitive should know how many pre-orders we have and when we ordered them. Also if you spent your own money investing in cognitive you should know that half of the divs are being held in a growth fund now to purchase more equipment at a future date. As for Cog.f can you not read its not another fund, its a way of raising capital for cognitive to buy more equipment all of which leads to higher cognitive value and div.  

Why have the value of my shares and dividend payments decreased so much? I've lost a lot of money on this fund now, not pleased with the directions it's taken since the exchange switch and now you are taking more money for another fund? What has come of the original one? Will it be receiving any dividends from these asics?

When were the BFL pre-orders placed? (Apologies - I'm sure this is something I'd learn if I deep-read the whole thread)

I agree that prudence is key in dealing with BFL.

Also - are the 2000 COGNITIVE shares to be delivered pending the completion of the COG.F sub-asset contract current treasury shares or will they be new issue?

Maybe use some of the funds to place bets against BFL shipping? I'm half serious . Unless it's actually a good idea, then I'm completely serious.

Currently Cognitive has an order paid in full for seven BFL SC Singles.

I'd certainly feel more comfortable sending BFL additional preorder funds after we see a working product shipping from them.

How many paid pre-orders and from whom does the main security currently hold?