Topic: Starting a new FPGA mining farm/contract! Cognitive Resurrected on[Havelock] - page 128. (Read 300686 times)

Motion Raised! https://btct.co/security/COGNITIVE


Personally, I believe this will be a good choice for Cognitive's long term success!

Not many have sold unfortunately (less than forty). And that number does not reflect the shares sold at 0.62.

How many shares sold at .62?  Is there really only 1.91 BTC remaining like the main cognitive page suggests?

A preferred stock could be that the owner of the preferred stock has an extra return of X% each month and then after a certain amount of months those preferred shares are exchanged for normal shares.  Berkshire Hathaway did this with Bank of America a few years ago.

The way to initialize this would be to just open a new class of shares.

You should probably write off that Starfish default unless you think you can collect from him some way.

After reading up on preferred stock, I'm intrigued. How would you suggest going about issuing these?

While I support Cognitive buying Cognitive back, we don't have the reserve funds available because of the Starfish BCB (PatrickHarnett) default. Our holdings are always visible at http://cognitivemining.com/

Soon a few motions will be raised regarding a few things:

• Introduction of a growth fund (taken from mining revenue)
• What to do with the shares currently for sale at 0.62

If anyone has recommendations, they are always appreciated!

--Garrett

I agree.  I would like to invest in the ASIC technology via Cognitive, but it is hard to justify paying a 50% premium over the current trading range. Your electric rates are a competitive advantage, but I think further investment is ASIC hardware is essential to future profitability.

I think it might be more effective to take down the 1805 shares on sale for 0.62 BTC and use the reserve funds to purchase back some of the shares, unless you think the current ask prices of 0.38-0.50 are still overpriced.  The large number of shares at 0.62 makes it impossible for investors to sell shares above that price in the short term.  If you want to sell those share then I suggest you do it in a range that you feel Cognitive is fairly valued at, or offer them as a preferred stock to entice people to buy them.

awsome garr! so far even with delays bfl keeps producing more and more to show people. looking forward.

Additionally, I just got an email from Butterfly Labs, sending me here: https://forums.butterflylabs.com/content/129-13-jan-13-asic-update.html

They say the ASICs will be ready to ship by the end of this month

Yes, very significantly. The seven SC singles are predicted to put out 60,000mh/s each, which raises the MH/s/share from the ~1.27 mh/s we have now to ~41.03 mh/s per share! And this calculation was made assuming all shares are outstanding, but in actuality there are currently over 1000 shares up for sale that are owned by Cognitive, so the increase in hashpower per share will be even greater.

Additionally, the shares owned by cognitive are for sale on the exchange for 0.62btc each. Because of other shares for sale at a lower price, Cognitive's ability to sell these shares is hindered. If you'd like to purchase shares from Cognitive for 0.62 each it would help your investment further because funds would go towards more hardware! Contact me if you're interested in this.

Best,
Garrett

Is the Mhs/share going to rise once you get delivery of your orders?

Thanks for the info.

Right now not enough of the newly issued shares have sold to purchase an Avalon order (less than 40btc worth). So it is likely that when those shares are sold, we will raise a motion to reallocate those funds. As for the BFL order, our 7 SC Single upgrades have been paid for and we're just waiting for BFL on this one.

If you have any other questions feel free to ask.

Cheers,
Garrett

Can you give us some information about the current status of Cognitive and ASICs orders?

Avalon are saying they will ship this week.

Thanks for the divs! 

Well... but since, despite of refraining, you have pointed out me being unprofessional, let me tell you that your friend Nefario had been all about being professional, and look what has happened now.

Besides I assure you that I am very professional - I just don't work in sales, nor in marketing, neither in any other useless profession that would require me to sell bullshit.
I have a good product and so I don't even need to advertise it.
For this product, it is enough to just wait for people to learn. Because similar problems with other asset exchanges seem inevitable to me, and it is just a matter of time before another gets hacked or something, and again nobody will be able to prove anything.

How many exchanges need to blow up before people finally learn how to protect their assets?
Hard to say, but from what I see I should probably say: too many...

Anyway, you already said several times that you're not going to use my idea, because you find its inventor and developer unprofessional.
Fine, then don't use it - who asks you to?
I'm not even sure why you are repeating yourself again, but you called it - so here I came.

Therefore answering your insinuations, I would like to make it straight for other people, such who would actually be interested in parking their bitcoin-based assets outside traditional exchanges, that Cognitive is welcome at assets-otc. And I don't expect delisting it ever, because doing business with Garrett has always been my pleasure and I believe it was also the other way around. So I cannot imagine any reason for it to change.

And you stochastic - you are just talking bullshit, as you usually have.

Since this is a thread about Cognitive, I will refrain from pointing out your admittance of being unprofessional, but good luck to your work.  I think #assets-otc is a great idea in the hands of a professional person.

I think you are talking to me, though addressing your speech to someone else. In which case, I am going to do exactly the same

Why am I unstable?
The only reason you have to support the theory that I am unstable is that I delisted your friend's asset from my generously free contract management service, after he had offended me.
So what is so unstable about it?
If Garrett had ever offended me, I would have delisted his asset as well - surprise? I don't think so.
And moreover, I don't think he will ever offend me because he is a normal honest guy who can listen to reason and never talks bullshit. So I believe he will listen to my reason, publically if needs so. And you - you keep selling bullshit to him, but don't dare to use my name with it, hoping for no reaction. There will always be a reaction - you can bet on it.

And, by the way, let me tell you once again that assets-otc is nowhere about anyone's trust to me.
I'm not holding anyone's balls for any moment - I'm only storing contracts.
Being delisted at my page does not mean anything.
In fact soon I'm going to publish the source code so anyone can get his shit and just start it at his own server, if he knows what php and mysql is.

Said a guy who used to be Nefario's big advocate - at the same time when I was already calling him a crook who was backing Goat to cheat his customers, stole 3000 ASICMINER shares, and god knows what else he did to screw over GLBSE users...

There are obviously people who will never learn, like you stochastic, but trust me, dear: I am the last person who would be trying to educate you.

So despite of your confidence in Nefario's honesty, I did not listen to you but chose listening to my reason and thus already in August I preemptively parked my modest share in Garrett's business.
Such a crazy move allowed me to keep receiving the divs while everyone else was shaking their pants  worrying whether Nefario would give the shareholders list or not. The list which BTW nobody can still be sure to be correct. In fact it does not look correct at all if you know that 3 days before GLBSE went muted there were only 7870 COGNITIVE shares, Garrett told you that he did not sell anything outside the market, and if you see at the twitter feed that the total trading volume for that last 3 days was.... below 200 shares!
So how the hell did it end up with 8616 shares?  I guess there must be a perfectly reasonable answer for that, but unfortunately no way to verify if such an answer would be true.
My blind shot is that the extra new shares just ended up as Nefario's "claim", but since we cannot prove that, all we can do is asking Garrett "how has he invested the money acquired by selling the 746 new shares?" - and then, he will most likely answer with "what money?" And not because he is the one who screwed us here - he just cannot do anything else in this circumstances, having no proofs for anything that happen on the exchange, because no single transaction can be proven.

So yeah: be very careful with having PGP signed contracts for what you own!!!
Just listen to stochastic - the guy knows what he is talking about and he will give you the best advise, as he always had yet back in the GLBSE times.


Yeah.
And I like the idea of spending Christmas on a white sanded sunny beach, sleeping under a palm, smoking joints, soaking cold bier, watching crabs and snorkeling with fishes...
But the reality is cruel and so you can't always get what you want.
Or skipping the metaphors: colored-coins is just a theoretical idea, while assets-otc is already a practical reality.

So if you prefer colored-coins then be my guest: keep waiting for your dreams to come true, hoping that the bitcoin enterprise that you are currently in, based on exactly the same security concept as the one that screwed you before, won't just blow up one day, right into your face.
And stay away from simple PGP-signed contracts, because they are so inconvenient that only crazy people use them