Topic: Starting a new FPGA mining farm/contract! Cognitive Resurrected on[Havelock] - page 145. (Read 300764 times)

Someone just bought out the rest of the offering.

Dividends this week will be a little low as well, because eligius isn't keeping up with payouts properly: http://eligius.st/~artefact2/7/1DfGiAHbW1jV8i4ZRcFpR6CGRkWnmdYdFb
Rest assured next week's dividends will compensate for this.

Motions will be raised soon regarding what to do with these funds before we are allowed to purchase the new boards.

I'm suprised the rest of the shares haven't sold, I know shares were diluted by another 1400 but it's twice the hash power.  If everyone was willing to purchase at .5, purchasing at .6 for double the hash with 1400 more diluted shares seems much more attractive.

Everyone must be investing in PPT.

Yup, between your and BeesBros' preorders it got down to that.

1174 shares to go?

GPUs aren't an option, because when the reward halves I'd be operating at a loss.

I will raise motions for all the other options.

Well, thats the thing. DMC is different, and I'm just holding the bonds as a way to make money not sit. Buying small scale hardware just isn't worth it, and buying hardware now that 28nm could be here in 6 months isn't worth it either. Paying the premium isn't so bad: small scale purchases plus the wait of shipping plus the cost of residential electricity, I'm going to be in the lower 0.50s of mh/$, and the bonds in the long term are going to be putting me in the upper 0.40s. Its not that big of a difference.

100% fair and very simple. Just do this.

I think I'm fine with four options:
1. Just make it fit by buying more hardware
2. Invest in something like Kluge's deal above until you can make use of the coins
3. Buy back some shares with these funds (might complicate matters)
4. Pay it as a dividend

I would suggest 1-2 additional GPUs, or collect a little more BTC to buy another FPGA board.

Actually, the first thing I considered was buying back shares with extra capital, but I thought it would be better for the GLBSE economy to reinvest into others. I will raise a few motions soon regarding the extra funds, the one with the best yes/no ratio will be put in to effect.

Are there any other suggestions?

Exactly! It's counter-intuitive to invest in another mining operation unless they are doing something vastly different (think what's the differentiation or competitive advantage). You'd be better off investing in the race horse to avoid a conflict of interest. Buying more hardware (or saving for it) or buying back shares might make more sense then. Definitely needs some more discussion.

Clearly Kluge and Cognitive both should invest in DMC

Investing the funds back in your CD is a bit incestuous too!  Kluge invests in Cognitive. Cognitive invests in Kluge.

In case anyone misunderstands, I'm just stirring.  A lot of big listed companies have cross holdings. I'm not currently a Cognitive investor, but I think BDK is as good a place as any for funds not immediately required.

I also thing we should put the funds in the Kluge CD until Yohan and crew lets up pay.

I'm not a major share holder, but I think Kluge's offer sounds good and think he is a safe and profitable place to park funds for a while.

Thanks for the feedback everyone. I added that bit to the motion just because we might have 100 or less BTC left over and remaining dormant, and I'd hate to see it simply sit.

I do plan to ask before purchasing shares for the company, and I will make majority shareholders' opinions have a significant impact on what is done with the funds. Although, if everyone feels safer, I'd be happy to put all the coins in Kluge's CD.

Any proposals for fund placement?

Same here. I'm assuming we're talking about "leftover funds" which'd be used, not thousands of coins. May's well do something with them, and given how stupid-easy it is to grow something in the Bitcoin economy, you'd be hard-pressed to end up with a loss. Investing (I wrote "Incesting" at first - Idunno if that was really unintentional) in other mining companies seems a little cannibalistic and unconfident.

I own nearly 2/5 of Cognitive, now (ETA: this is false now there's 6.4k shares instead of 5k). I'd definitely prefer funds stay in something relatively liquid (I don't think you're providing seed money for any private manufacturers or investing in boats, so you should be good on that), and something with stable returns (low-risk). Blurring conflict-of-interest lines, but I'd be happy to give Cognitive a preferable CD rate of 6%/32D with the option to take out the entirety of funds on demand, but with interest-nulling penalty should it be exercised prior to date of maturity (which'd be every 32 days, assuming auto-renewal). No Pirate exposure, decent diversification, and relatively enormous % ownership equity compared to typical banks.

I noticed that too.

I figured that after buying new hardware, there would only be a small amount of funds left over, and was curious as to where and what Garr would invest in.   

I have an issue with this motion if you'll hear me out. I'm ok with expanding to purchase more hardware, but what I'm not ok with is "Remaining funds from this capital will be invested in other GLBSE companies/bonds, which will ultimately increase Cognitive's earnings". This is vague and incorrect in stating that earnings will ultimately increase. Other companies can fail and lose money, which is why I'm not investing in those companies. Also, nothing specific is given as to what companies Cognitive would invest in, how much would be invested, or on what quantitative or qualitative basis Cognitive would make to invest in companies. In my opinion, there should have been two separate motions, and I'm sorry I didn't come across this sooner.

Another point worth making is that as the sole operator of Cognitive, you have proven yourself to be a great technical operator, manager, communicator, and what have you for running your machines. But what makes you a good investor? I'm not sure that I trust someone else to make investments for me. I'm honestly surprised no one else has brought anything like this up, as I would want to know exactly where the money is going, how it is being spent, and based on what assessment. As I currently hold about 1% of Cognitive I feel that this is something worth bringing up and I'm curious to hear other people's perspectives.

The motion passed with 99.97% of voters for it. https://glbse.com/asset/old_motions/COGNITIVE

3780 for and one against.

As stated above, shares will be issued now and available for current stock owners to purchase, then will be put up for public sale at 8:00pm PST tomorrow.

I've been going back and fourth with the makers of the board we plan to invest in, and we're working out a way to get them their money, because they don't accept Bitcoin

So you don't have to read the last page: