Topic: Starting a new FPGA mining farm/contract! Cognitive Resurrected on[Havelock] - page 149. (Read 300686 times)

Dividend paid!
0.00412787645 per share, 20.63938225 total

First dividend will be in a few hours, after some coins I just sent get six confirmations.

Awesome job!

electricity bills: FPGA consumes far less power. As the FPGA is more and more common, the difficulty will rise and some of the GPU will be mining at a loss with a common electricity price while all the FPGA is mining at full power with profit. and the most the importantly,  Cognitive have to pay no bills. Garr pays it.

scalability: It will be very impossible to expand the operation for the GPU mining for a single person.

Liquidity: With the 5750 mining at your home, it will be less convenient for one person to quit the mining investment. If one wants to reinvest, it will have to wait for months to accumulate the mining revenue to buy a new card. However, if invested in the Cognitive, you can reinvest and enlarge your mining power every week and quit the mining investment at any time you want.

time: How many time will it save you from the cooling/monitering?

Capital gain: the FPGA.Contract is trading at a even higher valuation level. and since the IPO end to now, the share price have been increased by nearly 20%, while at the same time there is mining income.

Mm. It means to get 150 Mhs or a little more I would need either to invest 50$ in a 5750 or 60 BTC=300$ for 100 shares. Maybe I better keep pwning mining hardware at home.

edit: mining @l33t speed

Also curious.

We got the rest of the boards, and up and running today!
http://dl.dropbox.com/u/9542654/btc/k/IMG_00000074.jpg
http://dl.dropbox.com/u/9542654/btc/k/IMG_00000076.jpg
http://dl.dropbox.com/u/9542654/btc/k/IMG_00000081.jpg

First mined dividend tomorrow!

Dipping into my personal funds a bit because some of the mined coins won't verify in time.

So who put up the askwall?

Also, the total mined balance can be found here: http://blockchain.info/address/15XmWTsyLp6WVMCn52sSTm1tB9NXyP9fRM

The reason the final balance is less than the total received is I'm sending funds to GLBSE as they become available.

yes, we're talking about the same difficulty that changed from 1.0 to 1.6 * 10^7 in last 40 months

http://bitcoin.sipa.be/
https://bitcointalk.org/?topic=2345.0

I am sorry, about "difficulty rising so fast", are we talking about same bitcoin difficulty? Difficulty is going to drop slightly in 2 hours (shortterm) and dropped compared to what it was 5 monthes ago (longterm). Does not looking like dropping, well I cannot call it fast also. Just to clarify.

Regarding resell value - you have the bond to resell in the case of bonds.

an off topic discussion.

the mining bond is a very trick financial product. the problem underlines in the option: the issuer have the right to purchase it back. A mining bond should be lower valued to reflect this option that is given to the issuers.

For example, there are 2 kind of securities listed on the GLBSE. A is a mining bond, B is a mining share.

B has the right to both the intangible mining power and the the mining rigs hardware, which mean that if one day the difficulty is becoming severely unfavorable, the shareholders of the B can stop the mining business by sell all the mining rigs. As I was informed, the x6500 and Icarus can be put into other use, so I guess no matter how high the difficulty is (assuming that the ASIC mining is realized),  we can always get away from the mining business with 40%-70% of the initial investment. For example, Cognitive will have 1.5M/shares mining power in a week, and the shareholder will get dividend from this mining power every week while they hold the shares, and if the ASIC is popular that the difficulty is so high that the mining is so profitless,  the shareholder can hope that Garr will sell all the rigs on the secondhand market with a 40%-70% of the initial investment. So the price of the shares cannot fall under half of the IPO price. So a shareholder can assume that they will get the dividend as long as the mining is still profitable and anytime the mining business ends there will be a 40%-70% residual value.

However, A only have the right to the intangible mining power, which will be depreciated as much as the productivity=f(hashrate, difficulty) reflects. and the price may be even only 10% of the initial investment. There is a very possibility that the mining bond investors buy in the shares with a hope that they will have all their investment back within a 12 months but the difficulty rising so fast that their bond soon became so cheap so fast, that before the dividend pays back the investment, the issuer strike the buying-back option and all the investor is at loss.

To hedge such kind of risk in A, or the value of the option given to the issuer of A, with the same level of mining hash rate, a mining bond should be lower valued than a mining share. the length of the price diffidence is depends on the anticipation of the speed of difficulty rising. the buyers of A should be aware of such kind of risk/option, too. They don't take any advantage. they have just taken risks.

It's a UFO!

Nightshot.

http://dl.dropbox.com/u/9542654/btc/IMG_00000064.jpg

The last six boards have shipped out and should be here either Saturday or next week.

^ Yes. And possibly more with future firmwares or expansion.

Should end up being ~1.5MH/s per share.

Nice to see the discount just after I bought at the top.
Another question, before I decide to double my bet: any estimate about Mhs per share and/or weekly return per share at current difficulty?

and who's the father?


// post #400

You got me. I'm Goat's kid.



I'm glad to see share prices on the rise



We're getting substantially less stales now thanks to TheSeven's work on MPBM! (see http://eligius.st/~artefact2/7/15XmWTsyLp6WVMCn52sSTm1tB9NXyP9fRM?autorefresh=1 )

Currently the Eligius pool is being used because of it's freely accessible graphs, consistent payout, and no fee. In the future I think GPUmax (which I'm already accepted to) and an undecided fallback pool will be used, unless someone else points out a way to earn more.

PATTAYA!!!

You sure it is not Thailand?