Starting a new FPGA mining farm/contract! Cognitive Resurrected on[Havelock] - page 134.

Garr255

legendary

Activity: 938

Merit: 1000

What's a GPU?

GLBSE Has now opened a form to get your assets back, and without any personal information aside from an email address!

Head over there and fill out the form!

I've been talking with the founder of GLBSE and it looks like he is on track to get everything resolved within a week.

I imagine I will be holding a list of all shareholders containing only: and email, bitcoin address, and the number of shares held. After I receive this list, you should be able to trade assets p2p. Just get in contact with me at [email protected] using the email you gave GLBSE.

There are a number of people who will be happy to buy cheap shares

stochastic

hero member

Activity: 532

Merit: 500

Garr,

GLBSE is now requiring information from users to close their accounts and receive bitcoins/assets. Are you willing to enter that information? It requests email address, bitcoin address, and an agreement to share this contact information with asset issuers.

The next page requests:

Quote

Verify account
To comply with money laundering regulations we must ask you to submit documents for proof of your address and identity.

Picture of your ID
Please provide a clear picture of your photo ID. For France, Germany, Spain, and English speaking countries ID cards, Passports and drivers licences are accepted, for everywhere else only passports are accepted.

User picture
Please provide a clear picture of you, holding a piece of paper with your GLBSE username and the date written on it.

Proof of address
Please provide a clear(unaltered) picture of proof of address. Tax statements or utility bills are accepted. This must clearly show your name (same as that on your ID) and address, it must also be dated within the last 3 months.

Not accepted are bank statements or bills issued electronically

Here is the forum discussion:
https://bitcointalksearch.org/topic/verifing-account-of-glbse-discussion-117539

I am also requesting the release of all shareholder names of BitcoinGlobal, the parent company of GLBSE, but theymos is not willing to do that. Since they cannot keep control of their AWOL CEO, Nefario, I believe all shareholders of BitcoinGlobal should receive scammer tags until some settlement or all coins/assets are returned.

zorgberg

member

Activity: 62

Merit: 10

I invested with Cognitive fully aware that GLBSE might eventually be shut down because I trusted Garr would do whatever he can to keep things operating. I for one was excited by the direction Cognitive was taking before this bad news hit, so it is good to hear that my instinct was correct and Cognitive will continue on despite this development. My thought now is just to ride this out and let the dust settle, then we can look at options. As Garr said if some panic selling occurs once it is possible to trade again, then hopefully I can pick up some cheap shares and turn this crappy situation into a positive one.

Garr255

legendary

Activity: 938

Merit: 1000

What's a GPU?

Quote from: jav on October 06, 2012, 02:43:35 PM

Hey Garrett, any first thoughts on what to do regarding the whole GLBSE situation? Are you planning on continuing "on your own", if it (hopefully) will be possible to extract a list of share holders from GLBSE?

On the same note: Does anyone feel like panic selling? ;-) I was actually about to buy some COGNITIVE shares and would still be looking to get about 65, now at a price of 0.3 BTC each. Contact me, if you are interested. Escrow for both shares and BTC via Garrett (if he is fine with that), once that becomes somehow possible.

Hey jav,

I do want to keep Cognitive going and continue to comply with all of the new legal regulations that will probably start popping up.
Currently I have the understanding that Nefario will release shareholder information (or at least allow shareholders to provide it) on Monday.

Until all shares are accounted for I would advise not doing any p2p trades. Surely people will panic sell, and I among others are getting ready to catch some cheap shares. If needed when the time comes I will be happy to escrow.

As for exchanges there are a few options, the most likely being assets-otc or cryptostocks. As of now I just want a way to get dividends paid. All mining income will be building up as normal until such a time that that is possible.

This hit most of us like a bus, and I sincerely hope we can resolve this issue very soon.

Quote from: stochastic on October 06, 2012, 01:07:27 AM

Garr, I have a sixth sense, right?

Indeed you do.

jav

sr. member

Activity: 249

Merit: 251

Hey Garrett, any first thoughts on what to do regarding the whole GLBSE situation? Are you planning on continuing "on your own", if it (hopefully) will be possible to extract a list of share holders from GLBSE?

On the same note: Does anyone feel like panic selling? ;-) I was actually about to buy some COGNITIVE shares and would still be looking to get about 65, now at a price of 0.3 BTC each. Contact me, if you are interested. Escrow for both shares and BTC via Garrett (if he is fine with that), once that becomes somehow possible.

stochastic

hero member

Activity: 532

Merit: 500

Garr, I have a sixth sense, right?

Garr255

legendary

Activity: 938

Merit: 1000

What's a GPU?

Quote from: jav on October 02, 2012, 12:31:38 PM

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! :-)

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

jav

sr. member

Activity: 249

Merit: 251

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! :-)

Garr255

legendary

Activity: 938

Merit: 1000

What's a GPU?

Also, in addition to the recent expansion plans, BFL has updated the ASIC specs giving cognitive an extra 160GH/s than originally expected from our SC Singles!

https://forums.butterflylabs.com/content.php/117-Announcement-BFL-ASIC-Release-specifications

Garr255

legendary

Activity: 938

Merit: 1000

What's a GPU?

The motion for the Avalon ASICs has passed, and shares have been issued and put up for sale!

Voted Yes:2127
Voted No :91

A motion to create a growth fund will be initiated shortly. This will largely help in increasing and maintaining share value long term.

stochastic

hero member

Activity: 532

Merit: 500

Quote from: Garr255 on September 29, 2012, 11:21:18 PM

Quote from: burnside on September 29, 2012, 11:01:24 PM

I'd support redirecting 50% (or more) of revenue toward growth. I believe that is the only way to stay on top of the curve and keep the dividend steady. As long as difficulty is going up there are only two paths Cognitive can take:

A) Spend a chunk on growth, pay the remainder as a (steady and reliable) dividend.

B) Spend nothing on growth, pay a diminishing dividend until there's not enough coming in to keep the lights on.

I agree. This and utilizing a futures fund when and if we want to issue more shares to expand.

I will raise a motion for this after the current one ends.

As an aside, I've noticed that I agree with nearly all suggestions made on this thread. This just goes to show that intelligent people invest in Cognitive Wink

Edit:

Now we just have to decide the percentage of the revenue to be dedicated to growth. I suppose this could be done by using multiple motions. One (that needs 70%) to determine whether we dedicate x% of revenue to growth, and the others (that need best yes:no ratio) to decide the percentage to be reinvested in growth.

I think 50% would be optimal. We will likely be able to keep up with the latest in mining technology without temporarily diluting current shares before new hardware arrives.

I think 50% to 75% is good, but you also need to think about limiting currency exchange risk while you hold the bitcoins. Also, I would avoid putting any coins in a high interest yielding bitcoin "bank" like was passed in a previous motion. The recent past events show that many of these were exposed to HIYP scams.

Garr255

legendary

Activity: 938

Merit: 1000

What's a GPU?

Quote from: burnside on September 29, 2012, 11:01:24 PM

I'd support redirecting 50% (or more) of revenue toward growth. I believe that is the only way to stay on top of the curve and keep the dividend steady. As long as difficulty is going up there are only two paths Cognitive can take:

A) Spend a chunk on growth, pay the remainder as a (steady and reliable) dividend.

B) Spend nothing on growth, pay a diminishing dividend until there's not enough coming in to keep the lights on.

I agree. This and utilizing a futures fund when and if we want to issue more shares to expand.

I will raise a motion for this after the current one ends.

As an aside, I've noticed that I agree with nearly all suggestions made on this thread. This just goes to show that intelligent people invest in Cognitive Wink

Edit:

Now we just have to decide the percentage of the revenue to be dedicated to growth. I suppose this could be done by using multiple motions. One (that needs 70%) to determine whether we dedicate x% of revenue to growth, and the others (that need best yes:no ratio) to decide the percentage to be reinvested in growth.

I think 50% would be optimal. We will likely be able to keep up with the latest in mining technology without temporarily diluting current shares before new hardware arrives.

burnside

legendary

Activity: 1106

Merit: 1006

Lead Blockchain Developer

Quote from: Garr255 on September 25, 2012, 12:04:31 AM

Quote from: stochastic on September 24, 2012, 11:26:51 PM

Is there also going to be a motion to make the company more growth oriented by not paying all revenue as dividends?

This is an issue that will fundamentally change the way the company operates, so a motion will be raised after the current ASIC motion. So by all means, buy up some shares after this motion if you want some more voting power!

I do definitely believe that keeping some revenue for growth will prove hugely beneficial in the long term.

I'd support redirecting 50% (or more) of revenue toward growth. I believe that is the only way to stay on top of the curve and keep the dividend steady. As long as difficulty is going up there are only two paths Cognitive can take:

A) Spend a chunk on growth, pay the remainder as a (steady and reliable) dividend.

B) Spend nothing on growth, pay a diminishing dividend until there's not enough coming in to keep the lights on.

Garr255

legendary

Activity: 938

Merit: 1000

What's a GPU?

Dividend paid! Plus my crew team did really well at our regatta today Cheesy

Thanks go out to all investors, Cognitive has been a tremendously enlightening experience for me. Looking forward to getting some ASICs online in the coming months!

Garr255

legendary

Activity: 938

Merit: 1000

What's a GPU?

Quote from: stochastic on September 26, 2012, 05:40:01 PM

What about having a futures asset like BFLS does. That way COGNITIVE can fund its current expansion plan but not reduce the dividend return while shareholders wait for the delivery of the ASICs.

That is definitely a good (although slightly controversial) way of doing it. If the current motion doesn't pass then this will be considered.

investr

full member

Activity: 222

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Damn it, I missed the party?

PinkBatman

sr. member

Activity: 267

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I'm loving these low prices! Grin

stochastic

hero member

Activity: 532

Merit: 500

Quote from: Garr255 on September 26, 2012, 03:06:38 PM

Quote from: conspirosphere.tk on September 26, 2012, 02:07:29 PM

Quote from: Garr255 on September 26, 2012, 02:00:57 PM

Cognitive should be doing excellently.

What's the plan B in case someone else beats BFL?

The only option that I see currently is to diversify the current ASIC preorders. Currently nobody publicly plans to beat BFL, but many people are accepting the wait and going with other producers. This is another reason why we should invest in some ngzhang Avalon ASICs.

What about having a futures asset like BFLS does. That way COGNITIVE can fund its current expansion plan but not reduce the dividend return while shareholders wait for the delivery of the ASICs.

URSAY

legendary

Activity: 1974

Merit: 1010

Dropping like a rock. Buy orders are at .15 Cry

Garr255

legendary

Activity: 938

Merit: 1000

What's a GPU?

Quote from: conspirosphere.tk on September 26, 2012, 02:07:29 PM

Quote from: Garr255 on September 26, 2012, 02:00:57 PM

Cognitive should be doing excellently.

What's the plan B in case someone else beats BFL?

The only option that I see currently is to diversify the current ASIC preorders. Currently nobody publicly plans to beat BFL, but many people are accepting the wait and going with other producers. This is another reason why we should invest in some ngzhang Avalon ASICs.

Topic: Starting a new FPGA mining farm/contract! Cognitive Resurrected on[Havelock] - page 134. (Read 300686 times)