samuel kern, your pictures don't really make for as good memes as Garrets.
You are quite young to be married no? Proudest moment for Olivia's life when you went to work for cognitive mining?
Topic: Starting a new FPGA mining farm/contract! Cognitive Resurrected on[Havelock] - page 21. (Read 300744 times)
April 02, 2014, 01:33:33 AM
April 02, 2014, 01:11:10 AM
April 02, 2014, 12:38:29 AM
I originally voted against liquidation but I am inclined to change my vote (given the recent "mathing" - which though I haven't verified, looks legit). Garr, Sam, if you have a counter-argument to "300BTC versus 50BTC", you should post it now, or expect a flood of vote changing. =/
Garrett agrees with the math. Assuming these calculations are correct, it seems that our best option is to liquidate. Garrett is going to post the current results of the motion on the Cognitive Mining website tonight.
More updates to come.
- Samuel
Please also remove Garrett's shares from the mass dividend when we liquidate. It's the least he could do for causing massive losses for everyone.
April 01, 2014, 08:51:40 PM
I originally voted against liquidation but I am inclined to change my vote (given the recent "mathing" - which though I haven't verified, looks legit). Garr, Sam, if you have a counter-argument to "300BTC versus 50BTC", you should post it now, or expect a flood of vote changing. =/
Garrett agrees with the math. Assuming these calculations are correct, it seems that our best option is to liquidate. Garrett is going to post the current results of the motion on the Cognitive Mining website tonight.
More updates to come.
- Samuel
April 01, 2014, 08:41:00 PM
I originally voted against liquidation but I am inclined to change my vote (given the recent "mathing" - which though I haven't verified, looks legit). Garr, Sam, if you have a counter-argument to "300BTC versus 50BTC", you should post it now, or expect a flood of vote changing. =/
Garrett agrees with the math. Assuming these calculations are correct, it seems that our best option is to liquidate. Garrett is going to post the current results of the motion on the Cognitive Mining website tonight.
More updates to come.
- Samuel
April 01, 2014, 07:52:28 PM
I originally voted against liquidation but I am inclined to change my vote (given the recent "mathing" - which though I haven't verified, looks legit). Garr, Sam, if you have a counter-argument to "300BTC versus 50BTC", you should post it now, or expect a flood of vote changing. =/
April 01, 2014, 02:33:27 PM
Talked to Havelock support. They say they are waiting for information from the fund operator and hope to reopen trading soon.
April 01, 2014, 03:24:31 AM
Garrett promised us free / the cheapest hosting on the planet with electricity rates around 0.06 usd/kWh.
Months later and two weeks after the first pieces of hardware arrive he changes this to 0.37 usd/kWh.
This operation is not viable anymore...
You are naive if you think that difficulty will stabilize at (or below) 25b (a 5-fold of what it is now). Not even a price drop to 100 usd would cause that.
It will be somewhere around 60b - 300b.
Add the fact that 50 btc went missing in November "because we were very unlucky" and another 100 btc last 2 months "due to the hardware failing, no time to reboot it, too busy making HF website". I start wondering if even the BFL delay we experienced ("they didn't ship on friday") was true.
Sam / Garrett, why the radio silence?
Months later and two weeks after the first pieces of hardware arrive he changes this to 0.37 usd/kWh.
This operation is not viable anymore...
You are naive if you think that difficulty will stabilize at (or below) 25b (a 5-fold of what it is now). Not even a price drop to 100 usd would cause that.
It will be somewhere around 60b - 300b.
Add the fact that 50 btc went missing in November "because we were very unlucky" and another 100 btc last 2 months "due to the hardware failing, no time to reboot it, too busy making HF website". I start wondering if even the BFL delay we experienced ("they didn't ship on friday") was true.
Sam / Garrett, why the radio silence?
April 01, 2014, 03:18:39 AM
So... has the vote closed? 
April 01, 2014, 02:35:25 AM
Almost all of the mining operations have turned out to be scams. None of them have turned a profit.
False. See asicminer.
I said almost all.
April 01, 2014, 02:14:58 AM
Almost all of the mining operations have turned out to be scams. None of them have turned a profit.
False. See asicminer.
April 01, 2014, 02:12:15 AM
This isn't about calculations, not even about my opinion. My question is simple: I'm by far the largest shareholder and I did not vote for liquidation. Where are the results?
Anyone care to respond before this conversation escalates to Godwin's law ?There is NO results and we don't know where is Garr.
If you guys like investing in mining operation, there are many operations that are run by competent and honest people.
Why would you want to continue with Cognitive ?
Let's just stop this operation and do what ever we want with the BTC left... before it's too late.
Almost all of the mining operations have turned out to be scams. None of them have turned a profit. Even with bitcoin crashing and not going up right now these operations never seem to ever make back the original bitcoins spent on the equipment.
I am evenly invest in what use to seem like the four most reliable mining operations with dividends right on time everytime. So far 2 where scams is COG the 3rd one. That just leaves 25% of my investment left in the only operation that did not scam NastyFans.
April 01, 2014, 02:02:53 AM
Here the option in the email.
Vote "YES" for the reserve fund to cover hosting expenses from the time my personal dividends were insufficient forward.
Vote "NO" to liquidate all Cognitive mining assets and disperse via a large dividend.
Its all of Cognitives mining assets to be liquidated and disperse via a large dividend.
Vote "YES" for the reserve fund to cover hosting expenses from the time my personal dividends were insufficient forward.
Vote "NO" to liquidate all Cognitive mining assets and disperse via a large dividend.
Its all of Cognitives mining assets to be liquidated and disperse via a large dividend.
What exactly are all of cognitives assets? Shouldn't he have a huge amount of btc from the extra shares sold?
There should really be an option to liquidate and not shut down.
All the bitcoins raised from those extra shares that were sold have all been spent already on mining equipment.
All of the assets would be the equipment, the 50% mining revenue going to a reserve fund, and any other bitcoin dividends held in COG addresses that have not been paid out yet that came from mining.
Mining hardware: https://docs.google.com/spreadsheet/ccc?key=0AgfcX1i_jmKIdDJiRnJTWHlQUWtweEVYOC1XeEN3cEE&usp=sharing#gid=0
Bitcoin asic mining dividends: 1cogxXyYU2EXEbdcV9j18PWenRU7gAjt1
Bitcoin hardware purchasing reserve fund: 1cogghK1bWFNSVHdicX2dQLfcWJzxHBHY
Altcoin mining dividends converted to bitcoin: 1cogHCDW6ScMxuXQ5DNxS6LvLRVP18vBt
April 01, 2014, 01:34:12 AM
This isn't about calculations, not even about my opinion. My question is simple: I'm by far the largest shareholder and I did not vote for liquidation. Where are the results?
Anyone care to respond before this conversation escalates to Godwin's law ?There is NO results and we don't know where is Garr.
If you guys like investing in mining operation, there are many operations that are run by competent and honest people.
Why would you want to continue with Cognitive ?
Let's just stop this operation and do what ever we want with the BTC left... before it's too late.
April 01, 2014, 01:11:47 AM
This isn't about calculations, not even about my opinion. My question is simple: I'm by far the largest shareholder and I did not vote for liquidation. Where are the results?
Anyone care to respond before this conversation escalates to Godwin's law ?
April 01, 2014, 12:03:30 AM
Here the option in the email.
Vote "YES" for the reserve fund to cover hosting expenses from the time my personal dividends were insufficient forward.
Vote "NO" to liquidate all Cognitive mining assets and disperse via a large dividend.
Its all of Cognitives mining assets to be liquidated and disperse via a large dividend.
Vote "YES" for the reserve fund to cover hosting expenses from the time my personal dividends were insufficient forward.
Vote "NO" to liquidate all Cognitive mining assets and disperse via a large dividend.
Its all of Cognitives mining assets to be liquidated and disperse via a large dividend.
What exactly are all of cognitives assets? Shouldn't he have a huge amount of btc from the extra shares sold?
There should really be an option to liquidate and not shut down.
March 31, 2014, 11:56:09 PM
Here the option in the email.
Vote "YES" for the reserve fund to cover hosting expenses from the time my personal dividends were insufficient forward.
Vote "NO" to liquidate all Cognitive mining assets and disperse via a large dividend.
Its all of Cognitives mining assets to be liquidated and disperse via a large dividend.
Vote "YES" for the reserve fund to cover hosting expenses from the time my personal dividends were insufficient forward.
Vote "NO" to liquidate all Cognitive mining assets and disperse via a large dividend.
Its all of Cognitives mining assets to be liquidated and disperse via a large dividend.
March 31, 2014, 11:54:04 PM
I had no idea the option to liquidate included shutting down the operation.
How can they have a vote for something so drastic without a financial report. Or did I miss it?
How can they have a vote for something so drastic without a financial report. Or did I miss it?
I don't know but it involves liquidating all the hardware and distributing all the money from the sale of the hardware as dividends.
March 31, 2014, 11:49:08 PM
I had no idea the option to liquidate included shutting down the operation.
How can they have a vote for something so drastic without a financial report. Or did I miss it?
How can they have a vote for something so drastic without a financial report. Or did I miss it?
March 31, 2014, 11:43:58 PM
Beside the fact that votes may not be accurate, why would anyone not want to liquidate hardware?
Surely it would be better to find a cheaper datacenter and fill it up with next gen asicminer chips.
Surely it would be better to find a cheaper datacenter and fill it up with next gen asicminer chips.
I really want to liquidate the hardware and buy next gen chips that will make a profit on the investment. But the options are either keep current chips and continue mining or liquidate hardware and shut down the operation.
There is no option 3 to liquidate hardware and to continue the operation. If we do liquidate the hardware it look like the operation ends. I can't see why we couldn't vote for someone else to run the operation and to appoint multiple trusted members to run and operate the hardware along with someone trusted to be the treasurer. We must remove Garr from being in control of the hardware and money.
Jump to: