Topic: Starting a new FPGA mining farm/contract! Cognitive Resurrected on[Havelock] - page 54. (Read 300752 times)

Blood in blood out, right mainline?

The thing is, if the price increases, mining solutions that would not make ROI actually have the chance to do so. Meaning buying gear with a less than 100% ROI is just a gamble, one supposing that the price will increase.

I'm afraid garbage in->garbage out (junk model).

There is clearly no causal relationship between difficulty and bitcoin price, otherwise we should be able to drive the price by increasing the hashrate.
The correlation between hashrate/price is also flaky at best.  It's impossible to make even the most basic assumptions, like !((price of mining gear) > (bitcoins mined over lifetime)) - see 99% of all the ASICs bought at consumer level to date.  We're not dealing with a rational, frictionless system.

You're wrong.

Within a simple model where difficulty is proportional to Bitcoin price in US dollars (or, maybe, just correlates with it positively), investment in mining securities is essentially a bet against rising Bitcoin price.

In reality it is much more complex, but the general idea is the same. You can dig up a story of burnside's Litecoin mining bond, it provides empiric evidence to this theory. (Rapid rise of Litecoin price -> rapid decline of perpetual bond value.)

If you have a crystal ball and are 100% sure that Bitcoin price will go up, it probably makes sense to keep bitcoins in your paper wallet.

But ordinary people do not have a crystal ball, and they know that Bitcoin price can go down, or stagnate for a couple of years. That's what happened July 2011 - January 2013, after all.

So they need to hedge... Obviously, one can just sell his bitcoins and keep US dollars, we can consider it a baseline.

Buying mining-related securities is another way to hedge it.

And thus this graph definitely makes sense:

1. it shows performance of investment into mining security against default hedge strategy (keeping US dollars)
2. in general, price of mining hardware is in USD, so in makes more sense to price mining company shares in USD as well... they are traded on Bitcoin exchanges, yes, but Bitcoin can be seen as a payment system here.

tl; dr: You'll see how it works if you won't look at it from permabull's position.

As much as you want to doubt it, the world still runs on FIAT. And it will probably continue to run on FIAT for a looooong time.

Dood, its algorithmic dollar!

+1

Thanks for your insights and contributions to Cognitive.

Thank you for your level head, theterabyte. I am working to correct everything that has gone wrong. By the end of the year (hopefully much much sooner) FIMB will be fully repaid. Fixed interest with mining is a risky thing to attempt, and it has costed me dearly.

Quit feeding the troll, people.  A religious zealot is someone who believes for poor reasons.  A religious zealot will use whatever facts he can to support his presuppositions, and when the facts fail, resort to ad hominem attacks.

Sometimes zealots are right, and sometimes they are wrong.  Even a broken clock is right twice a day.  This troll was right that not everything was perfect with Garr, and mistakes were made, but he's been proven wrong that the intent was malicious.  There is no reason to believe it was in garr's best interest to pay 32BTC just to "further the scam".  FIMB was not a scam, it was just a failure.  COG is not a scam, and when the hardware arrives, it has the potential to be very successful.  But despite this new evidence, some people aren't looking at the evidence, and some people will never be convinced.  Those people should be ignored.

Nobody should forget what happened in the past, but they should consider all the evidence.  Garr is obviously making an effort here and we should continue to encourage him to improve, hire the help he needs, etc.

(Disclosure:  I own about 1.7% of COG by shares)

Yes, this is very good news. I'll put the cognitive link back in my sig. 

That is a sick way to get enjoyment. You aren't being helpful at all because you have no substance in any of your claims, just predictions of doom and a personal vendetta.  It makes you look like a sad little person with nothing better to do than hurl feces at others from the sidelines.

Fucking hell what a release !

We're on the good way.

I confirm having received the first half of FIMB re-payment (BTC38.56) from Garrett today. Hallelujah!

I am looking forward receiving the other half in monthly payments as stated above, so I am expecting to hear from you no later than 03/04/2014. I would appreciate if you always sent payments to that same address and posted here in the sequence.

If you would like to re-pay the other half with COG shares you personally own, I am doing this one time offer of swapping your remaining BTC38.56 debt for 800 shares. While I prefer cold hard bits, I am willing to take the shares for the sake of putting a definitive end to this issue, so we can both move on with our projects. Let me know asap.

someones doing well.. 84 btc in change.  enough to buy some mining equipment...

hope the cointerra's machines are arrived...

I confirm that the GPU rig is running. The hashing was low at the start but slowly increasing as the pool calculate the average speed.

I hope you can complete your deal with alincoin asap so we can end the drama.

Repayment for FIMB (BTC38.56) will be sent sent to alincoln today, 1Bqg9YKE25U1BRCRm3pJiGsiFE5vvgirtB txid:

FIMB is going to be repaid as promised to alincoin within an hour. I am very sorry for the delays here, they will not happen any longer.

Also, I just got two sCrypt rigs set up for Cognitive on Tompool.org. The mining output is viewable by looking for the address starting in "1cog".

Will respond to the rest of the questions in this thread later tonight, busy setting up more miners right now.

Cheers,
Garrett

If retards like you would listen to me, you would never get into this mess with this scammer in the first place.
Even then, I gave fair warnings to get out, 3 months ago.

Do not worry, I enjoy looking at fools being parted from their money.

Exactly I start belive Garett is not a proper person to invest in COG. I am dropping my shares

Let's put the blame where it belongs. Garrett is twisting in the wind and making promises he can't keep. This is a very bad sign and my personal experience with this kind off thing tells me that it cannot be further ignored. Garrett could have said that payback was dependent on receiving the hardware, but he didn't... he said he would pay half and then didn't follow up. alincoln can't be blamed for bringing this to our attention and is really doing us a favor. Kakobrekla is not helpful at all here and should be ignored, but this is a serious issue that needs to addressed sooner rather than later.