Topic: Starting a new FPGA mining farm/contract! Cognitive Resurrected on[Havelock] - page 38. (Read 300686 times)

Lol, Garret could even be pointing these Cointerra rigs at an address he owns that he hasn't made public and -no one- would even know.

Garret has absolutely zero accountability!

I would not be surprised if he has been ripping shareholders off just because he knows that no one can see what he does. Like that time we had 2 months of unaccounted dividends because there was 0% luck on the pool. Soloing with that little hardware would have been a complete joke! I truly doubt that was what he was doing.

Reminds me of the BFL chip group buy where I unfortunately took part of.... He was the -only- group buyer to receive the BFL chips late, and he was late by a damn month. Who knows, he might have received them on time, made miners with them. Used the miners to get some BTC and buy another reel a month later for 1/8th the price.

I don't want to sound like a conspiracist here, but with 0% accountability, Garret can do whatever the fuck he wants, and I've already been ripped off several thousand $$$ from his damn ignorance.

Maybe my fears are right and he is stealing shareholders money though...... we all know he has some debts. The only way he could prove he isn't is by running these for Cog addresses.

Is there a way to remove Garret as the CEO of this company? Garret clearly can't handle this ship while he goes to college. I know a lot of you shareholders actually care about your money too.

I just can't get the possibility out of my head that this -kid- could be stealing our dollars just because he knows there is not much we can get done.


Maybe some-type of audit by the SEC wouldn't be bad for this company's shareholders, those are the guys I care about.... because I am a shareholder...

EDIT-
I would personally like to raise the motion to fire Garret as CEO of Cognitive Mining. I don't think he is doing a good job, and he is not worried about the shareholder's interests/BTC/$$ in this company.

Looks like somebody is dumping shares...

Nothing like managing a couple $100k's worth of other people's money and not being held liable for a dime of it

wow this is an absolute mess, 11% difficulty change just skipped us by and our HW is not even running stable after weeks from delivery.

This really is a sorry state of affairs.

What is going on with the miners?
Why is this happening?
What are your communications with coin terra regarding the matter?
when will this be resolved?

 About to dump 1% of total outstanding shares on Havelock.

At BTC.01/share you'll be drinking 30 packs of Natural Light on weekends. No more Labatt Blue or Corona Extra.
 
Garrett and Sam, we need communication, resolution, and hashpower!

how much did cog pay for it's 28TH contract? in BTC....

People would rather sell our $6000 units for $12000 than have them sit idle, that's all.  50% could be paid as divs, the rest go to the reinvestment fund, and cog is no worse off than it was a year ago.  Unlike having the hardware sit idle, losing opportunity and value every day.

If the units can be made to operate soon, nobody is advocating selling them, of course that'd be silly, but if they are not what was promised, or cannot be made to run consistently, we would make more money selling them.  we are just reminding everyone of the options to ensure Garrett evaluates them all.

Probably for the best considering these are two university students who can't dedicate their time to make sure everything stays running and thought that they could plug 30TH into their grandma's basement and somehow cool it all as well....now they are scrambling to arrange a datacenter co-locate? That should have been arranged before the equipment arrived. 


 

Yeah I can't believe how much of a bad idea selling the units is and how many people are advocating it. We bought hashrate not units (according to Garrett) so lets just get the 28th/s that we ordered operational, who cares what they are hashing at, just keep them steady and cointerra will be forced to give us more units if we aren't getting the agreed hashrate.

Those advocating selling the units, once sold what are we left with? What are going to buy instead? I would be in favour of it if Garrett hadn't signed a very favourable (to us) deal with cointerra. We've been promised hashrate, just be patient. I'm sure Garrett could be doing more but this is a company run by ONE person, try to keep your expectations reasonable.

Or don't tell me you plan to issue a dividend with the proceeds (I saw some people advocating this) and then what, the company folds due to no working capital?

Save them and use them IMO, but do get them running quickly. Burning money by not having them run is a piss-poor investment. Garret should buy a remote managed PDU so he can power cycle the units over the network.

I think the average price under 8k and the (likely) lower future diff increases make selling a much less clear choice.  I like the idea of seeing if we get any bites at 10-12k while continuing to *aggressively* work to make these machines operational.  If power and cooling is really the issue and it will all be magically fixed in a week, that is unfortunate that we are losing a week, but I still believe we can come out ahead in the long run since lower diffs means these units can be profitable to run for a longer period of time...  I hope folks are right and the diff increase is going to be closer to 10% most periods...

It's a cooling issue but IMO it is better to sell the units for a high price now and re-invest for better hardware later.

Are you saying all Cointerra miners will work 100% when you move them to the new location?  This is strictly a power issue or cooling issue and the new facility will afford plenty of both?

Mar 13 2014        3815.72M           10.55%      93% measured
Feb 28 2014   3,815,723,799   21.92%   27,314,015 GH/s
Feb 17 2014   3,129,573,175   19.39%   22,402,357 GH/s
Feb 05 2014   2,621,404,453   19.49%   18,764,744 GH/s
Jan 24 2014   2,193,847,870   22.59%   15,704,175 GH/s
Jan 13 2014   1,789,546,951   26.16%   12,810,076 GH/s
Jan 02 2014   1,418,481,395   20.12%   10,153,885 GH/s
Dec 21 2013   1,180,923,195   30.01%   8,453,378 GH/s
Dec 10 2013   908,350,862   28.41%   6,502,229 GH/s
Nov 29 2013   707,408,283   16.07%   5,063,826 GH/s
Nov 17 2013   609,482,680   19.29%   4,362,847 GH/s
Nov 05 2013   510,929,738   30.70%   3,657,378 GH/s
Oct 26 2013   390,928,788   46.02%   2,798,377 GH/s (knc batch 1, we may never see a spike like this again)
Oct 16 2013   267,731,249   41.45%   1,916,495 GH/s (knc batch 1, we may never see a spike like this again)
Oct 06 2013   189,281,249   27.19%   1,354,928 GH/s


Difficulty changes have been getting lower, this difficulty re-target is going to be around 10-12%

Datacenter delays are causing these problems. Typically, real estate of this large-scale nature is prepared months if not a year in advance and we are doing this in weeks. Everything will be operational within the coming week, but until then we have to do our best with our current resources. I will post the miners on ebay for 10 days and cancel if the 7 day motion does not pass.

If the motion to sell the units does not pass, we will be in a top-class tier-3 datacenter piggybacking on a larger operation, getting the cheapest power in the nation.

Best,
Garrett

Fine, we can put a fixed price of 12K (no bid) per units while we keep trying to run them.

The last 25 cointerra IV that sold on the bay located in the usa averaged $7368/unit

The last 13 averaged for $6870/unit

Last 6 averaged for $6687/unit

SLOW DOWN!!!

CT Units are not getting 12K off hand, and difficulty is not guaranteed to increase at the rates postulated!!!

Verify!
http://www.ebay.com/sch/i.html?_trksid=m570.l3201&_nkw=cointerra&_sacat=0

Most CT units are around the 6 - 8k mark, close to the return guessed on current rates.

Better value for Cog if we get those units running full time with someone paid to ensure it stays that way....but it needs to happen NOW

motion