Topic: Starting a new FPGA mining farm/contract! Cognitive Resurrected on[Havelock] - page 124. (Read 300686 times)
March 14, 2013, 08:04:26 PM
How many COG.F contracts are you going to issue?
March 14, 2013, 02:43:16 PM
Hey all,
This morning I gave BTC-TC my application for approval of COG.F
The first contracts will be sold in a few days when the asset goes live on the exchange for 2.5btc each. Before then, I am accepting bulk orders of these shares at the rate of 45btc per 20 COG.F shares.
For those just tuning in, here's the contract for COG.F:
COG.F is an asset representing contracts for delivery of COGNITIVE shares that will be issued upon arrival of mining hardware purchased with COG.F funds.
One (1) COG.F represents a contract for twenty (20) COGNITIVE shares, to be delivered upon arrival of said mining hardware.
Now is a great time to invest bitcoins into mining, both because of the new ASIC hardware that is going to be released, and because of the high bitcoin value which maximizes investment payoff!
Best,
Garrett
This morning I gave BTC-TC my application for approval of COG.F
The first contracts will be sold in a few days when the asset goes live on the exchange for 2.5btc each. Before then, I am accepting bulk orders of these shares at the rate of 45btc per 20 COG.F shares.
For those just tuning in, here's the contract for COG.F:
COG.F is an asset representing contracts for delivery of COGNITIVE shares that will be issued upon arrival of mining hardware purchased with COG.F funds.
One (1) COG.F represents a contract for twenty (20) COGNITIVE shares, to be delivered upon arrival of said mining hardware.
Now is a great time to invest bitcoins into mining, both because of the new ASIC hardware that is going to be released, and because of the high bitcoin value which maximizes investment payoff!
Best,
Garrett
March 10, 2013, 08:51:52 PM
Great, thanks a lot for the quick reply.
March 10, 2013, 04:53:44 PM
I am a small Cognitive shareholder thinking to pick up some more shares as the price has moved lower in the last few days.
Any updates on the "Contract for delivery" idea?
Also, I have read through this thread, but it would be helpful if we could get an update on the current hash rate, and the estimated hash rate following the arrival of the new hardwares. Hope this isn't too much to ask.
Thanks.
Any updates on the "Contract for delivery" idea?
Also, I have read through this thread, but it would be helpful if we could get an update on the current hash rate, and the estimated hash rate following the arrival of the new hardwares. Hope this isn't too much to ask.
Thanks.
Hello,
I've been away for the past few days and unable to announce it, but the latest motion has passed!
In an effort to raise funds for upcoming ASIC sales, if this motion passes as per the new contract (reflected here:
http://cognitivemining.com/contract.html ), a new sub-asset of Cognitive will be created in the funds section of BTC-TC with the ticker
"COG.F". Each one of these shares represents one share of Cognitive to be delivered once the hardware purchased from capital raised from
these shares arrives and is hashing. COG.F shares will not pay a dividend, nor will they have voting power until the said delivery. Because of
this, COG.F shares will be sold in bulk, and priced competitively. This will be a good opportunity for long term investors.
COG.F shares will be issued later this week. It's a great time to invest bitcoins in Cognitive, while the USD price is high!
I believe the following post answers the rest of your questions. Feel free to ask if you have any more!
Best,
Garrett
Hey! I have looked at Cognitive from time to time and have just been catching up. I have a few questions, that I couldn't answer from reading the thread:
What is the current MH/s of the mining farm?
Are the BFL Singles still hashing or are they already on their way back to BFL? (By the way, the OP still says that the Singles have not been delivered yet.)
Any contingency plan in case those new shares issued for acquiring Avalon ASICs are not actually sold on GLBSE anytime soon? I mean, it's almost $20k in new money needed there. And in the meantime those unsold shares kind of dilute the dividend payment, don't they? Or are you somehow redirecting the dividend payment for those unsold shares? (or does GLBSE already do that?)
Thanks in advance! :-)
What is the current MH/s of the mining farm?
Are the BFL Singles still hashing or are they already on their way back to BFL? (By the way, the OP still says that the Singles have not been delivered yet.)
Any contingency plan in case those new shares issued for acquiring Avalon ASICs are not actually sold on GLBSE anytime soon? I mean, it's almost $20k in new money needed there. And in the meantime those unsold shares kind of dilute the dividend payment, don't they? Or are you somehow redirecting the dividend payment for those unsold shares? (or does GLBSE already do that?)
Thanks in advance! :-)
Hello jav,
Sorry for not keeping the OP up to date... the web site is always up to date if you want to see inventory.
We currently have 13200mh/s, then the BFL ASICs will add 420000mh/s, then the Avalon ASICs will add 600000mh/s, for a total of 1033.2gh/s!
In the past all shares have always sold within a week. I'm confident these will sell in a timely manner, but if they don't we will have to develop a plan.
GLBSE does not pay dividends to shares held by Cognitive (AKA only outstanding shares are paid), so that isn't a problem.
Thanks for your interest,
Garrett
March 10, 2013, 09:46:53 AM
I am a small Cognitive shareholder thinking to pick up some more shares as the price has moved lower in the last few days.
Any updates on the "Contract for delivery" idea?
Also, I have read through this thread, but it would be helpful if we could get an update on the current hash rate, and the estimated hash rate following the arrival of the new hardwares. Hope this isn't too much to ask.
Thanks.
Any updates on the "Contract for delivery" idea?
Also, I have read through this thread, but it would be helpful if we could get an update on the current hash rate, and the estimated hash rate following the arrival of the new hardwares. Hope this isn't too much to ask.
Thanks.
March 03, 2013, 07:14:17 PM
Thanks
March 01, 2013, 09:54:39 PM
Heard anything about anymore asics arriving?
BFL's estimated shipping date is in the next few weeks. They always seem to find a way to delay it further though. I will post back when I hear anything from them, and when we (finally) get a shipping notice!
Cheers,
Garrett
March 01, 2013, 08:45:30 PM
Heard anything about anymore asics arriving?
February 23, 2013, 02:36:55 AM
Where do you want to order ASICs with the COG.F funds? You won't be able to update your order if BFL ships on March 1.
Avalon will be our preferred choice. If the first BFL order processes before we raise funds to expand it, we have another one (for the SC Single upgrades) placed shortly after, and is still a low order number
February 22, 2013, 06:55:45 PM
Where do you want to order ASICs with the COG.F funds? You won't be able to update your order if BFL ships on March 1.
February 22, 2013, 02:29:47 PM
Taken from BTC-TC
YES: 4752 - NO: 141 - ABSTAIN: 211 - OUTSTANDING: 8619
The total yes shares is 4752. The total voting shares is 4752+141=4893
4752/4893= 0.97118332311, therefore the motion passed with more than a 97% majority.
Sorry you're confused. Does that make more sense?
Yes, thank you !!
February 22, 2013, 01:40:43 PM
In other news, both motions passed, so the contract is changing from:
I'm confused, how is that the first motion passed?
the motion text reads "For this motion to pass, the number of shares voting yes divided by the total number of
voting shares needs to produce a decimal with a value equal to or greater than 0.70."
so 4752 / 8619 = 0.55 which is NOT equal to nor greater than 0.70.
Taken from BTC-TC
YES: 4752 - NO: 141 - ABSTAIN: 211 - OUTSTANDING: 8619
The total yes shares is 4752. The total voting shares is 4752+141=4893
4752/4893= 0.97118332311, therefore the motion passed with more than a 97% majority.
Sorry you're confused. Does that make more sense?
February 22, 2013, 01:07:00 PM
In other news, both motions passed, so the contract is changing from:
I'm confused, how is that the first motion passed?
the motion text reads "For this motion to pass, the number of shares voting yes divided by the total number of
voting shares needs to produce a decimal with a value equal to or greater than 0.70."
so 4752 / 8619 = 0.55 which is NOT equal to nor greater than 0.70.
February 22, 2013, 12:06:45 PM
Is is still that only 1 person has received a shipment from Avalon?
Yes. Before we send them any money the second batch will have shipped and in turn we will be able to more accurately verify that they have a working product
In other news, both motions passed, so the contract is changing from:
Cognitive Mining (asset id COGNITIVE) was created with the intent to give
investors the opportunity to participate in FPGA Bitcoin mining without
purchasing their own hardware. 100% of mining revenue will be distributed
proportionally among shareholders. One share of the asset gives you one share of
the revenue. Operating costs will be paid for by shares held by the operator of
the asset. Each share represents a share in the ownership of the hardware.
Motions to sell more shares can be raised by shareholders if 25% agree. 70% of
shareholders will need to agree to issue the proposed shares. In the event of
liquidation, all revenue will be distributed evenly to shareholders. The
operator reserves the rights, regardless of the amount of shares owned, to raise
a motion, and sell all hardware. Dividends will be paid weekly. Further
information can be found at http://cognitivemining.com/
To:
Cognitive Mining (asset id COGNITIVE) was created with the intent to give investors the opportunity to participate in FPGA Bitcoin mining without purchasing their own hardware. 50% of mining revenue will be distributed proportionally among shareholders as dividends, and 50% of mining revenue will be added to our growth fund, which will be used for investing in additional mining hardware. One share of the asset gives you one share of this revenue. Operating costs will be paid for by shares held by the operator of the asset. Each share represents a share in the ownership of the hardware. Motions to sell more shares can be raised by shareholders if 25% agree. To pass any motion, 51% of a minimum 60% quorum must vote "yes" for the motion. Motions will be raised for a minimum of two weeks. In the event of liquidation, all revenue will be distributed evenly to shareholders. The operator reserves the rights, regardless of the amount of shares owned, to raise a motion, and sell all hardware. Dividends will be paid weekly. Further information can be found at http://cognitivemining.com/
February 22, 2013, 03:57:28 AM
Avalon is shipping and we need to get on board.
After the current motions pass on Friday, I'm planning on raising two more:
1) As requested by a shareholder, a motion that lets me spend Cognitive's funds on mining hardware freely. I will, of course, continue to operate in Cognitive's best interest as I have with funds in the past. The main advantage is not having to wait two weeks for a motion to pass, because sometimes ASIC ordering windows are much shorter than that!
2) The sale of "Contracts for Delivery", meaning the sale of an asset in order to purchase mining hardware that will mature into a Cognitive share when said hardware arrives and is hashing. These would be competitively priced, to encourage investments, and would be sold in bulk only. I think 100 for BTC22 would be an extremely good deal for investors, as Cognitive shares trade for 0.3+.
As always, suggestions are appreciated.
Best,
Garrett
After the current motions pass on Friday, I'm planning on raising two more:
1) As requested by a shareholder, a motion that lets me spend Cognitive's funds on mining hardware freely. I will, of course, continue to operate in Cognitive's best interest as I have with funds in the past. The main advantage is not having to wait two weeks for a motion to pass, because sometimes ASIC ordering windows are much shorter than that!
2) The sale of "Contracts for Delivery", meaning the sale of an asset in order to purchase mining hardware that will mature into a Cognitive share when said hardware arrives and is hashing. These would be competitively priced, to encourage investments, and would be sold in bulk only. I think 100 for BTC22 would be an extremely good deal for investors, as Cognitive shares trade for 0.3+.
As always, suggestions are appreciated.
Best,
Garrett
Is is still that only 1 person has received a shipment from Avalon?
February 21, 2013, 02:09:56 AM
So someone just sold their cognitive shares at prices above .23 BTC. Maybe I am assuming too much but is it because now they are looking at a better deal on your contracts for delivery?
I see the logic in that, but I personally think that'd be an unwise move, as the contracts for delivery idea is not yet set in stone.
February 21, 2013, 02:05:47 AM
Avalon is shipping and we need to get on board.
After the current motions pass on Friday, I'm planning on raising two more:
1) As requested by a shareholder, a motion that lets me spend Cognitive's funds on mining hardware freely. I will, of course, continue to operate in Cognitive's best interest as I have with funds in the past. The main advantage is not having to wait two weeks for a motion to pass, because sometimes ASIC ordering windows are much shorter than that!
2) The sale of "Contracts for Delivery", meaning the sale of an asset in order to purchase mining hardware that will mature into a Cognitive share when said hardware arrives and is hashing. These would be competitively priced, to encourage investments, and would be sold in bulk only. I think 100 for BTC22 would be an extremely good deal for investors, as Cognitive shares trade for 0.3+.
As always, suggestions are appreciated.
Best,
Garrett
After the current motions pass on Friday, I'm planning on raising two more:
1) As requested by a shareholder, a motion that lets me spend Cognitive's funds on mining hardware freely. I will, of course, continue to operate in Cognitive's best interest as I have with funds in the past. The main advantage is not having to wait two weeks for a motion to pass, because sometimes ASIC ordering windows are much shorter than that!
2) The sale of "Contracts for Delivery", meaning the sale of an asset in order to purchase mining hardware that will mature into a Cognitive share when said hardware arrives and is hashing. These would be competitively priced, to encourage investments, and would be sold in bulk only. I think 100 for BTC22 would be an extremely good deal for investors, as Cognitive shares trade for 0.3+.
As always, suggestions are appreciated.
Best,
Garrett
So someone just sold their cognitive shares at prices above .23 BTC. Maybe I am assuming too much but is it because now they are looking at a better deal on your contracts for delivery?
February 21, 2013, 12:34:16 AM
Avalon is shipping and we need to get on board.
After the current motions pass on Friday, I'm planning on raising two more:
1) As requested by a shareholder, a motion that lets me spend Cognitive's funds on mining hardware freely. I will, of course, continue to operate in Cognitive's best interest as I have with funds in the past. The main advantage is not having to wait two weeks for a motion to pass, because sometimes ASIC ordering windows are much shorter than that!
2) The sale of "Contracts for Delivery", meaning the sale of an asset in order to purchase mining hardware that will mature into a Cognitive share when said hardware arrives and is hashing. These would be competitively priced, to encourage investments, and would be sold in bulk only. I think 100 for BTC22 would be an extremely good deal for investors, as Cognitive shares trade for 0.3+.
As always, suggestions are appreciated.
Best,
Garrett
After the current motions pass on Friday, I'm planning on raising two more:
1) As requested by a shareholder, a motion that lets me spend Cognitive's funds on mining hardware freely. I will, of course, continue to operate in Cognitive's best interest as I have with funds in the past. The main advantage is not having to wait two weeks for a motion to pass, because sometimes ASIC ordering windows are much shorter than that!
2) The sale of "Contracts for Delivery", meaning the sale of an asset in order to purchase mining hardware that will mature into a Cognitive share when said hardware arrives and is hashing. These would be competitively priced, to encourage investments, and would be sold in bulk only. I think 100 for BTC22 would be an extremely good deal for investors, as Cognitive shares trade for 0.3+.
As always, suggestions are appreciated.
Best,
Garrett
February 16, 2013, 11:33:47 AM
Can you still update your BFL order?
How many more bitcoins do you need for an extra Single?
How many more bitcoins do you need for an extra Single?
Yes, they have told me I can add to the order. I would add to my personal order though so we would get our hardware sooner, as I am first in line
At the current rate of $27 per coin, we need BTC48 for another SC Single.
February 16, 2013, 08:41:31 AM
Can you still update your BFL order?
How many more bitcoins do you need for an extra Single?
How many more bitcoins do you need for an extra Single?
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