I don't feel like it is necessary to bring that up now. The auction puppet case is said to be solved between the involved parties.
I prefer to keep the focus to the missing dividends. I just can't believe Garret has no records of any of the addresses he used to mine.
Topic: Starting a new FPGA mining farm/contract! Cognitive Resurrected on[Havelock] - page 68. (Read 300686 times)
December 24, 2013, 07:17:46 AM
December 24, 2013, 02:36:02 AM
But from other points of view he still did act in bad faith, lie, cheat, and steal, correct?
Also, these are only the things that he was caught doing, who knows what other ways he manipulated his to go his way.
Also, these are only the things that he was caught doing, who knows what other ways he manipulated his to go his way.
The only thing of all of those that I did was "cheat and act in bad faith". I acted in the best faith of
Scammer tag? No, this what the feedback system is for, and it's working.
The trust system works great as long as you actively curate the collection of people you trust.
December 24, 2013, 02:13:38 AM
But from other points of view he still did act in bad faith, lie, cheat, and steal, correct?
Also, these are only the things that he was caught doing, who knows what other ways he manipulated his to go his way.
Also, these are only the things that he was caught doing, who knows what other ways he manipulated his to go his way.
The only thing of all of those that I did was "cheat and act in bad faith". I acted in the best faith of
Scammer tag? No, this what the feedback system is for, and it's working.
December 24, 2013, 02:10:29 AM
But from other points of view he still did act in bad faith, lie, cheat, and steal, correct?
Also, these are only the things that he was caught doing, who knows what other ways he manipulated his to go his way.
Also, these are only the things that he was caught doing, who knows what other ways he manipulated his to go his way.
The only thing of all of those that I did was "cheat and act in bad faith". I acted in the best faith of
December 22, 2013, 08:18:02 PM
FIMB has taken longer than I've hoped because of complications at Havelock due to its bond nature. It will be online and all backed up dividends will go out this month, hopefully on Monday.
Just to be clear, I have never scammed and will never scam anyone.
Just to be clear, I have never scammed and will never scam anyone.
Garrett,
We're still looking for more detailed info on the much lower than expected dividend payment. When will you be addressing this? Why do you continue to ignore all messages relating to this in this forum?
December 21, 2013, 05:26:09 PM
I'll be back soon with good news, and pictures of our new 28TH that will be online in just a few weeks.
Cheers
Cheers
December 21, 2013, 05:24:00 PM
FIMB has taken longer than I've hoped because of complications at Havelock due to its bond nature. It will be online and all backed up dividends will go out this month, hopefully on Monday.
Just to be clear, I have never scammed and will never scam anyone.
Just to be clear, I have never scammed and will never scam anyone.
December 21, 2013, 04:11:44 PM
Having some staff could make Cognitive more appealing and the shares would be more valuable.
I agree, and I have had a few people ask to fill a PR role. I do feel that Cognitive will have a better image once some staff is in place, because I cannot be maintaining the forums all the time, due to the fact that every minute I spend on these boards is a minute not spent on growing Cognitive in a more direct way.
In the next hour, a motion will go out for the purchase of an alt-coin mining rig, and to determine where we want to point this hash power we can have polls via email with all shareholders.
--Garrett
For god's sake can you let FIMB bondholders know once and for all what will be made of their invested money? WHEN will FIMB be migrated to a new exchange and WHEN will delayed dividends be paid? Why don't you pay up right now using BTCT.CO's addresses as you did before? This issue can't be ignored/postponed forever, I know you are alone and that you feel that answering forum posts is a bit of "waste of time" but with all due respect if you ignore me this time around I will write in bolds everywhere I can that COGNITIVE is a scam.
December 21, 2013, 04:08:54 PM
On the other hand, my cost basis was ***MUCH*** higher, so maybe you have a more manageable amount of shares at a lower entry price and can rationalize holding
I could not rationalize this
I could not rationalize this
No, my cost basis is pretty high too. But read my previous posts - I predicted the difficulty would be this high in january 2 months ago. This is not a surprise. The only thing we didn't predict was bitcoins 10x value increase, and all that does is make the "reinvestment fund" more valuable. On an investment like this, 20% annual returns is great. At the current price, the expectation is more like 100% return in under 3 months, plus we still own the hardware/reinvestment fund. Pretty crazy.
December 21, 2013, 03:03:46 PM
Having some staff could make Cognitive more appealing and the shares would be more valuable.
I agree, and I have had a few people ask to fill a PR role. I do feel that Cognitive will have a better image once some staff is in place, because I cannot be maintaining the forums all the time, due to the fact that every minute I spend on these boards is a minute not spent on growing Cognitive in a more direct way.
In the next hour, a motion will go out for the purchase of an alt-coin mining rig, and to determine where we want to point this hash power we can have polls via email with all shareholders.
--Garrett
December 21, 2013, 11:21:41 AM
At current difficulty 28TH/s (the actual amount we are scheduled to receive) we see:
That means each day it will find ~12 BTC
This means if we got the miners right now, and assuming 30% network growth and 12-day adjustments instead of 14, we would get 144 BTC in the first 12 days, 100.9BTC the second 12-day period, 70.65BTC the third 12-day period, and 49.5BTC the fourth 12-day period. This means in the first 48 days we'd see 366 BTC, 50% of which would be 183BTC, which is better than break-even at the current market cap. If cointerra comes through, the shares will pay for themselves in DIVs alone in under 2 months at teh current share price. Getting a share in hardware that will break even in under 2 months is unheard-of practically. Add to that that you still have the shares to sell (which are even more valuable because COG has 186BTC to spend on even more hardware) and it is still looking pretty good.
The only reason to sell remains uncertainty over Garrett (and it is very uncertain now, I agree). That said, I'd rather hold and be wrong then sell and be wrong, so I'll take your cheap shares, tyvm.
Code:
1172.0*1000*1000*(2**32)/(28.0*1000*1000*1000*1000*60*60*24) => 2.0807298573544974 days to find a block
That means each day it will find ~12 BTC
Code:
25.0 / 2.0807298573544974 => 12.015BTC/day
This means if we got the miners right now, and assuming 30% network growth and 12-day adjustments instead of 14, we would get 144 BTC in the first 12 days, 100.9BTC the second 12-day period, 70.65BTC the third 12-day period, and 49.5BTC the fourth 12-day period. This means in the first 48 days we'd see 366 BTC, 50% of which would be 183BTC, which is better than break-even at the current market cap. If cointerra comes through, the shares will pay for themselves in DIVs alone in under 2 months at teh current share price. Getting a share in hardware that will break even in under 2 months is unheard-of practically. Add to that that you still have the shares to sell (which are even more valuable because COG has 186BTC to spend on even more hardware) and it is still looking pretty good.
The only reason to sell remains uncertainty over Garrett (and it is very uncertain now, I agree). That said, I'd rather hold and be wrong then sell and be wrong, so I'll take your cheap shares, tyvm.
okay, I'm doing my calculations on www.dustcoin.com/mining , but yes with 28TH things look slightly rosier
but only with the share price at .0181/share , partially a result of me selling into liquidity
just a week ago at .06/share yes this predicted a 30% return
and a week before that at .010/share this predicted a 20% return
On the other hand, my cost basis was ***MUCH*** higher, so maybe you have a more manageable amount of shares at a lower entry price and can rationalize holding
I could not rationalize this
December 21, 2013, 01:29:34 AM
At current difficulty 28TH/s (the actual amount we are scheduled to receive) we see:
That means each day it will find ~12 BTC
This means if we got the miners right now, and assuming 30% network growth and 12-day adjustments instead of 14, we would get 144 BTC in the first 12 days, 100.9BTC the second 12-day period, 70.65BTC the third 12-day period, and 49.5BTC the fourth 12-day period. This means in the first 48 days we'd see 366 BTC, 50% of which would be 183BTC, which is better than break-even at the current market cap. If cointerra comes through, the shares will pay for themselves in DIVs alone in under 2 months at teh current share price. Getting a share in hardware that will break even in under 2 months is unheard-of practically. Add to that that you still have the shares to sell (which are even more valuable because COG has 186BTC to spend on even more hardware) and it is still looking pretty good.
The only reason to sell remains uncertainty over Garrett (and it is very uncertain now, I agree). That said, I'd rather hold and be wrong then sell and be wrong, so I'll take your cheap shares, tyvm.
Code:
1172.0*1000*1000*(2**32)/(28.0*1000*1000*1000*1000*60*60*24) => 2.0807298573544974 days to find a block
That means each day it will find ~12 BTC
Code:
25.0 / 2.0807298573544974 => 12.015BTC/day
This means if we got the miners right now, and assuming 30% network growth and 12-day adjustments instead of 14, we would get 144 BTC in the first 12 days, 100.9BTC the second 12-day period, 70.65BTC the third 12-day period, and 49.5BTC the fourth 12-day period. This means in the first 48 days we'd see 366 BTC, 50% of which would be 183BTC, which is better than break-even at the current market cap. If cointerra comes through, the shares will pay for themselves in DIVs alone in under 2 months at teh current share price. Getting a share in hardware that will break even in under 2 months is unheard-of practically. Add to that that you still have the shares to sell (which are even more valuable because COG has 186BTC to spend on even more hardware) and it is still looking pretty good.
The only reason to sell remains uncertainty over Garrett (and it is very uncertain now, I agree). That said, I'd rather hold and be wrong then sell and be wrong, so I'll take your cheap shares, tyvm.
December 21, 2013, 12:29:07 AM
COGNITIVE:
20TH coming online in the next couple months.
with share prices of .02/share Cognitive has a market cap of 191 bitcoin.
at ***CURRENT*** difficulty 20TH would earn 77 bitcoins per week, half of which goes into the reinvestment fund (right?)
so for dividends sake, think 38.5 bitcoin.
Assuming difficulty adjusts every two weeks, then you are looking at 77 bitcoin during one round of difficulty.
And this will only be a diminishing return.
At share prices of .02/share , cognitive shareholders will *NEVER* make their investment back.
Garret's dividend withholding is just an extra reason to get out while you can.
just posting this now that I've finished selling with limit and market orders.
20TH coming online in the next couple months.
with share prices of .02/share Cognitive has a market cap of 191 bitcoin.
at ***CURRENT*** difficulty 20TH would earn 77 bitcoins per week, half of which goes into the reinvestment fund (right?)
so for dividends sake, think 38.5 bitcoin.
Assuming difficulty adjusts every two weeks, then you are looking at 77 bitcoin during one round of difficulty.
And this will only be a diminishing return.
At share prices of .02/share , cognitive shareholders will *NEVER* make their investment back.
Garret's dividend withholding is just an extra reason to get out while you can.
just posting this now that I've finished selling with limit and market orders.
Was that you who finished getting out at .0181?
Sold some on the forums, some on Havelock
Thanks for the liquidity
I had been holding for the CoinTerra chips, but difficulty was under one hundred million at the time, now that it will surpass 1 billion, this is no longer a good bet
This was one of the more promising ways to get exposure to ASIC technologies, unfortunately no longer viable.
ActiveMining is aiming to have single machines that can do 24 TH/s, KncMiner will be rolling out their batch right along with CoinTerra
this particular security offering doesn't have the potential in the face of these outcomes
I was thinking that maybe I would hold for dividend euphoria, like when one big dividend came in with ASICMiner people would just bid up the shares as if it would happen for all eternity, but with my calculations on this share issue no price for COGNITIVE makes sense, that and coupled with the fact that dividends are being withheld, I could no longer rationalize even holding a smaller position in COGNITIVE
caveat emptor and hold that helps
December 20, 2013, 11:07:51 PM
COGNITIVE:
20TH coming online in the next couple months.
with share prices of .02/share Cognitive has a market cap of 191 bitcoin.
at ***CURRENT*** difficulty 20TH would earn 77 bitcoins per week, half of which goes into the reinvestment fund (right?)
so for dividends sake, think 38.5 bitcoin.
Assuming difficulty adjusts every two weeks, then you are looking at 77 bitcoin during one round of difficulty.
And this will only be a diminishing return.
At share prices of .02/share , cognitive shareholders will *NEVER* make their investment back.
Garret's dividend withholding is just an extra reason to get out while you can.
just posting this now that I've finished selling with limit and market orders.
20TH coming online in the next couple months.
with share prices of .02/share Cognitive has a market cap of 191 bitcoin.
at ***CURRENT*** difficulty 20TH would earn 77 bitcoins per week, half of which goes into the reinvestment fund (right?)
so for dividends sake, think 38.5 bitcoin.
Assuming difficulty adjusts every two weeks, then you are looking at 77 bitcoin during one round of difficulty.
And this will only be a diminishing return.
At share prices of .02/share , cognitive shareholders will *NEVER* make their investment back.
Garret's dividend withholding is just an extra reason to get out while you can.
just posting this now that I've finished selling with limit and market orders.
Was that you who finished getting out at .0181?
December 20, 2013, 07:55:27 PM
COGNITIVE:
20TH coming online in the next couple months.
with share prices of .02/share Cognitive has a market cap of 191 bitcoin.
at ***CURRENT*** difficulty 20TH would earn 77 bitcoins per week, half of which goes into the reinvestment fund (right?)
so for dividends sake, think 38.5 bitcoin.
Assuming difficulty adjusts every two weeks, then you are looking at 77 bitcoin during one round of difficulty.
And this will only be a diminishing return.
At share prices of .02/share , cognitive shareholders will *NEVER* make their investment back.
Garret's dividend withholding is just an extra reason to get out while you can.
just posting this now that I've finished selling with limit and market orders.
20TH coming online in the next couple months.
with share prices of .02/share Cognitive has a market cap of 191 bitcoin.
at ***CURRENT*** difficulty 20TH would earn 77 bitcoins per week, half of which goes into the reinvestment fund (right?)
so for dividends sake, think 38.5 bitcoin.
Assuming difficulty adjusts every two weeks, then you are looking at 77 bitcoin during one round of difficulty.
And this will only be a diminishing return.
At share prices of .02/share , cognitive shareholders will *NEVER* make their investment back.
Garret's dividend withholding is just an extra reason to get out while you can.
just posting this now that I've finished selling with limit and market orders.
December 20, 2013, 04:38:17 PM
Can we get an official statement regarding FIMB migration status? Dividends are very late, and no word has been given when it will be migrated to a new exchange. At a minimum, dividends should continue to be paid on schedule using BTCT's panic address, as months have passed since the shutdown and there is no reason for withholding payments.
Once again, can I get an answer to this? FIMB bondholders have been continuously restricted in their right to do whatever the hell they want with their divs, because they are NOT being paid and there is no reason for that. I'd have converted to fiat when BTC was abobe $1,000 but will take a loss if they are paid now.
I will keep posting this every day until I get an answer or dividends are paid.
This is my THIRD post asking for an update regarding FIMB dividend payments, and still NO ANSWER. I will keep posting and asking for an update regarding MY MONEY until the administrator cares to answer or receives a scammer tag.
I once had trust in Cognitive but the recent lack of transparency and communication is unbearable.
December 20, 2013, 06:10:09 AM
Garret, I have given you a negative trust rating for the lack of transparency and communication. I hope you take measures to restore our trust in Cognitive & FIMB.
December 18, 2013, 11:46:57 AM
Dividends have been down across the board for me its not just on Cognitive but other mining operations too. Rising difficulty explains part of the reason why dividends are lower. You also have to remember 50% of dividends get held and reinvested in new hardware so that has to be taken into account when your calculating how much should get paid out. Plus their had to have been some fee to get listed on havelock initially which may explain why it was so low.
It could be better explained if the finances of this operation where made transparent.
It could be better explained if the finances of this operation where made transparent.
Yes, divs are down across the board, but that isn't what we are talking about. If you read the thread history you will see the divs from the time during which COG was between exchanges was lower than expected taking the difficulty into account, enough lower to be *very* unlikely due to random luck.
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