Topic: Starting a new FPGA mining farm/contract! Cognitive Resurrected on[Havelock] - page 151. (Read 300764 times)

That's even worse for me than before if you're right about the stock being undervalued. No worries -- I might try bringing this up again, later. Anyhoo, I'ma snap up some aftermarket shares and'm excited to see how this progresses. Cheers!

What if we wait until I receive the boards, then agree to issue you $800 worth of shares at the going rate. This is because I believe the company is undervalued right now, mostly because, as HorseRider said, dividends from mining have not been paid out yet. I think the price per share will rise in the next few weeks, as dividends are paid, and all the hardware is received and set up.

I'm going to pay the first dividend this Saturday if the Eligius pool pays out by then. Due to their payout scheme, the first dividend could be a little less than normally mining with six boards for 1.5 days. In case you missed it above, this will all be publicly viewable on the worker page, here: http://eligius.st/~artefact2/7/15XmWTsyLp6WVMCn52sSTm1tB9NXyP9fRM

No. The difference between issuing shares vs. selling aftermarket is that freshly-issued shares go toward growing the company. If the market thought Cognitive were so undervalued, it would fulfill the ask orders. You're asking me to pay significantly over aftermarket price, in which case, I have no incentive to request IPO shares.

@ 350 shares, I'm a smidge over breaking even on purchasing the boards @ current market rates.

If you have edited a work source less than 2 minutes before that, it might have been some bug that caused old jobs to not be purged correctly.
If not, hm, it must have been a network connectivity or pool-side issue. Did they come in a burst, or scattered over time? What kind of error messages did the log window report?

7: Ah, those were rejects by the pool, not invalids. These boards have never found an invalid. Still though, what might be causing this?

Kluge: How about a better offer? I think 325 shares would be a good offer on both sides.

Rev3 @200MHz with 17% invalids average? That can't be quite right. How was the distribution of the invalids across the FPGAs, and how many were that absolute?

Traditionally, issuing new shares at a discount price compared to the market is acceptable, if and only if the market share price is not under valued.

I'm very happy that the CEO of the firm, you Garr, is so trusted by a Hero member of this forum. He is willing to send you the board without any pre-payment;) Thanks for Kluge!

Garr, if you do the math in the best interest of yourself, I think I will support your negotiation result. Because the interest of yours and the company's is very much the same thing.

I've been talking with various shareholders. Almost unanimously, we've decided you will need to offer an extremely good price. What do you think about a lower price HorseRider?

Edit: Also going back to the overclocker firmware. 200mhz was giving us about 17% invalids. Boards stayed below 35C too.

Kluge, why not pitch your idea to FPGA.contract? I think it's because that you know that the share price of Cognitive is undervalued.

I will vote nay if the share price is under 40x of monthly net income, while the price of FPGA.contract is more than 50x of monthly net income now. If the Cognitive is at the same level of valuation as FPGA.contract, it should be traded at 1.5BTC per share in a very short time.

I think Kluge really should reconsider his proposal.

Garr, it's you who paying the utility bills. You should do the math carefully. If you issue new share at such a undervalued price, you're very dangerous put yourself at loss if the difficult rising faster than the exchange rate in the near future, which is very much possible.

We are soon will mining at a steady high hash rate and paying out weekly regular dividends. we have a transparent CEO who share his ID information publicly, both of which will give the public investor confidence. all of this will push up the share price. We Cognitive can issue new share at a much higher price than it is right now(now lots of people don't see regular dividends which they need to build the confidence.)

Interesting proposal. Before starting a motion, let's see what shareholders have to say right here. Speak up!
I think it would be fair to do this, but at a significantly larger price per share, granting less to you thus maintaining the value of all other shares.


Around 120W, right where it should be

Edit: I'm doing some reconfiguring of the miner setup right now. Trying to up the clock speed a bit therefore upping the hashrate.

Alright! All boards running at 200mhz. Getting a steady 2,399mh with the six boards.

How much electricity are the 6 boards drawing now?

I have a proposal for Garr/Cognitive. I would like to see Cognitive grow, give Garr more to do, and I'd like a stake.

I got in on that bulk batch of Icarus boards a couple weeks ago and ordered two. They come with power adapters. With shipping and gratuities, it came to $492.50 each for me. I'd like $500 each for them in the equivalent of Cognitive shares, well below the original price for Icarus boards, but enough to make me feel like I've done well in the transaction. While the current highest bid for a share of Cognitive is @ .58BTC/share, total bid volume equals the equivalent of ~$100 (only ~$14 @ .58), so I don't believe that to be a valid figure to go by. Instead, I would like to receive issued shares at a cost of .525BTC, 5% higher than the original IPO price.

In total, I would receive roughly 389 newly-issued shares at the current rates. However, these boards are not expected to be shipped for ~ a month. I would not expect to receive the shares until you have received the boards. If you're interested, I suggest you initiate two separate motions between now and the transaction happening, one ASAP, and one when I've received confirmation the boards are being shipped. The first motion would allow shareholders to vote whether or not to have $1000 worth of Cognitive shares issued to me @ .525BTC/share upon you receiving the Icarus boards. The second motion (assuming the first succeeds) would give the exact number of shares which would be issued using the exchange rate at time motion is issued -- a confirmation vote that shareholders still want to go through with it.

If shareholders pass the first motion but deny the second motion, I will pay for you to ship the boards & power adapters to me, and no shares would be issued to me. All which ends up happening in that case is you'd need to ship the boards & adapters to me, and I'm out the cost of shipping I'll reimburse you for.


Cheers,

Ben

Not at all, because they're not in here. My GPUs take care of that
They put off very little heat though, really cool!

Awesome job, how much are the 6 heating up your room?

All six boards are happily hashing along!

A couple new pictures up on the site: http://cognitivemining.com/gallery.html

And here are some additional pictures:
http://dl.dropbox.com/u/9542654/btc/IMG_0005.JPG
http://dl.dropbox.com/u/9542654/btc/IMG_0002.JPG
http://dl.dropbox.com/u/9542654/btc/IMG_0003.JPG
http://dl.dropbox.com/u/9542654/btc/IMG_0004.JPG

I took a few on Monday when I got the boards. I've been so busy getting them mining I've forgotten to upload them.

For now, here's just before that table exploded with bubble wrap and thermal paste: http://dl.dropbox.com/u/9542654/btc/IMG_00000059.jpg

With the board idling there's no temp drop. I'm working hard to get them actually mining though!

Edit: We're mining! http://eligius.st/~artefact2/7/15XmWTsyLp6WVMCn52sSTm1tB9NXyP9fRM

Thanks a ton to the #mpbm channel! It turns out that the PSU was being activated wrong (PS_ON to PWR_OK instead of GND) -- completely my fault.

Another box will arrive soon, and they will all be mining within the next week or two.

Thanks everyone!

-Garrett

Edit: Powering down for a few minutes, moving the miner to its permanent spot

Mining on three one board now (need to reapply thermal paste). Will add three five more tomorrow.

I'm going to throw in an extra BTC in the first real dividend to make up for my mistakes.

I thought all boards have room temperature, disregard the paste used.

Yeah... there's just not enough time in a day.

Anywho, I just mounted sinks on another board with arctic silver paste. If it gives a significant temperature drop, I'll do the same for the rest of the boards.

Garr is still a teenager, he needs lots of sleep. I don't think it's good that Garr doing job for the company at the lost of sleep! You can take the time, sometimes sleep makes you work at even higher efficiency.