Topic: Starting a new FPGA mining farm/contract! Cognitive Resurrected on[Havelock] - page 43. (Read 300686 times)

Nope, I had around 230 shares, and someone hacked into my Havelock account, sold all of my shares, and then withdrew around 10 BTC.

I'm quite pissed off about this.

EDIT: Here's the damage:

http://i.imgur.com/lauTijQ.png

So we have been down to around 2ths for about 24hrs. I am assuming this is so you can move them, if this is the case why are we moving them when there time is most valuable and not in a few weeks losing a day now can be like losing a week in a month.

Is the chart on http://cognitivemining.com/charts/ not working, or are we really only getting <2TH/s right now?

EDIT: Heh, looks like some folks dumped their shares after COG.F1/2 was converted.  Good for us, cheap shares, whee!

I agree, thank you for the smooth transition from Cog.F/2 to COG.

I'm glad people are bringing up all these things, and for a nice change, Garr and Cognitive-PR are being responsive.  This really is a pleasant change.  Please keep it up.  It's reasonable that there will be some confusion while the accounting practices are fixed - but the most important thing is the path forward.  Let's get those CT miners set up.  Let's get the 1cog* addresses accurate so they reflect mining and current balances.  Let's get the scrypt miners working.  Then, let's talk about the past (i.e. will the scrypt miners break even, missing divs, etc).

Thanks to both of you for all your work so far.

Any GPU rig get a return on investment in 2 or 3 months. That mean that if the GPU rig cost 10 BTC it should produce between 0.083 BTC and 0.111 BTC per day (unless Garrett bought the wrong hardware).
The Cognitive GPU rig is just not mining (or partially).

So we spent 10BTC for a rig that can produce at best 0.035BTC per day and is currently producing far less than that?

FUD : it started mining the first time on 2014-02-06 and have been interrupted many times. I don't think it has been mining more than few days (possibly less than 3 days).

The problem is that Garrett is too busy or not good at setting up GPU mining rig. I would help if I wasn't living too far.
It's not that complicated but you need few days to setup properly and optimise.

Also, where is the GPU rig mining at ?

So you are saying that the 20 btc in the 4 1cog addresses + havelock deposit address does not belong to Cognitive... this makes the accounting very fuzzy...

The cognitivemining.com/charts page is nice, but it does not include the 3.2 btc in the havelock "hot wallet". Also missing is the litecoin equipment address, so it's not a full overview...
A link as independent proof to the eligius page would make the chart page more trustworthy. For the 1coggh address you can add a link to blockchain.info.

I'll ask for the following to get the full picture:
- link to the tx of 682 btc (CT payment). the remaining balance will be the start value of the fund.
- sum of all dividends as of that moment up to today(which will be suspiciously low due to 2 months of no mining / "bad luck")
- link to the tx of 5-10 btc (litecoin payment) to be subtracted from this total.

Last of all, I'd like to point to everybody who voted "yes" to put up scrypt mining equipment... 10 btc paid for only a measly 1.04 btc return in almost 3 months... what a waste.

/rant.

How many KH/s did we get for 10btc??

evidence of this please, all i see is a payment out to garr

Garrett hadn’t imported Cog addresses into a wallet yet. He decided it would be faster and easier to pay dividends using his own funds.



No, about 10 BTC.



Lastly, an update:

Garrett will have the two CT units he transported to Washington up and hashing sometime tomorrow. More info to come soon.


- Samuel

Why did you have to loan cog money to pay divs, I do not understand this.  Cog mines it's divs. For aome reason were we not mining?

Are you claiming that you spent around 5 BTC on the scrypt hardware?

Tafelpoot, some of your requests were fulfilled before writing that post: http://cognitivemining.com/charts went live last night

(note: some funds in the 1cogx address are owed to me still, therefore will not be included in any dividends. I will make a payment out of the address to my personal one correcting the misrepresentation issue within an hour.)

Thank you both for the answers.
I'm glad that you'll convert CogF this week.

I guess you understand my annoyance when I saw 6 TH/s reported here on Feb 24 while we were promised to get 28 TH/s in January.
On top of that, I saw that out of this low mining revenue, 6% went straight into your pocket and 0% to my CogF shares...

We should have mined about 150 btc this month, but instead we mined not even 17 btc.
I hope you'll make this clear in the negotiations with your CT contacts.

The fact that you have to "calculate" the current balance in the "reserve fund" is also quite suspicious. If it was done properly, you could take the remaining balance of the addresses used to pay the 682 btc (please provide tx link) in september and add the sum of all dividends as of that moment. No other costs are indicated on your website, however how did you pay the litecoin gear then?

The whole reserve fund should be located in 1cogg, not spread out like it is now.
Why do you need a "hot wallet" on havelock? It is an unnecessary risk...
Every week you should send the whole balance on all 1cog(x,t,H,...) mining addresses for 50% to 1cogg and for 50% to havelock.
A fixed shedule for these dividends should be good as well.

The 1cogx, 1cogt, 1cogH addresses are proof that you are actually mining at 28+ TH/s for Cognitive.
The 1cogg address is proof that you still hold the Cognitive reserve fund.

If you make a setup like this, people have a clear and simple overview of the operation. It is not hard to do.
You can make a website, graphs and pictures later, it is too easy to manipulate those anyway.
Use the blockchain to regain trust.

I'm monitoring these 4 addresses and I see currently only about 3 TH/s to 1cogx mining address and only 11.2 btc in 1cogg.
However there are funds on 1cogx, 1cogt and 1cogH as well... those  should be split in 2 over the reserve fund and havelock divs.

My requests, in order of urgency:

• provide a list of all "1cog" addresses in use (and what they are about)
• put the whole reserve fund to "1cogg"
• review the LTC passthrough listing... if you can't maintain it, just close it.
• clarify which havelock deposit addresses are for cognitive / personal use. 1Gw8oc saw 25 btc this month and 2 btc on Nov 13...
• add the links to the "1cog" addresses to the contract as well for clarity.
• propose an update for the contract in general (remove FPGA legacy)

You cannot make that assumption based on this calculation.
Cognitive have been mining since 2012.
The share you own is not a share for a hardware, it is a share for a mining group that will continuously reinvest in future hardware and negotiate better contract with miner manufacturers.

With the current difficulty,28th wil generate 4.499B one day,31.5 a week . 31.5/2/14000=0.001125B per share. I think we would not made our bit coin back.

Are you kidding ? 28TH is huge. What are you comparing with ?

Yes more hash will be added, that's the idea of Cognitive : the group reinvest 50% of the earning into new hardware.

28th,is that all? Will be adding more hashrate in the near future?