Topic: Starting a new FPGA mining farm/contract! Cognitive Resurrected on[Havelock] - page 98. (Read 300686 times)

Great to see the motions posted! All propositions seem like solid, beneficial responses to increase the potential for everyone involved with Cognitive. I've already voted.

Now all those big fish majority shareholders please don't play coy and wait the motions out, get logged in and vote! 

As a last sidebar, I feel anyone waiting on Avalon chips needs to take action quickly. Waiting further may prove detrimental to virtues of patience.

P.S. Maybe I've missed something in the wording of contracts or even forgotten, but must CogF funds be used explicitly for Avalon hardware? Would it be likely to get the refund from avalon and use it for hardware/chips before acquiring the 28nm chips later in the year?

Thanks Garrett!  All three of these motions sound beneficial for everyone.  I am really excited to hear details about the Cointerra thing.  TGB reports that they expect to deliver 2PH to the network by December (which is projected to be on the order of 5 PH around then), it is exciting to think cognitive could be a significant fraction of that! http://thegenesisblock.com/cointerra-expects-to-deliver-2-phs-of-asics-in-december/

Hopefully with the arrival of our BFL hardware and doubling of already-20%+-dividends, the share price will more accurately reflect the value cognitive is bringing.

I have written three motions and will be posting them momentarily:




I've spoken to a few majority shareholders and we've all agreed that the additional COG.F contracts are in order for a formal vote before selling them on the exchange.

The motion for cutting the minimum motion duration in half will be a great help, because as we've learned, waiting two weeks for a decision isn't practical in the mining industry.

Our BFL SC Singles will be online Monday evening, so that is some fantastic new in itself

Cheers,
Garrett

Good news!

Garr, please define the refund policy for CogF2 in the contract & use motions before you add extra shares. You got 3 replies in this thread on your question to issue extra shares, that is not representative at all.
I understand you are really busy right now, but you should have sorted it out before the release.
I'm looking forward to your update.

Good news! Thanks Garr!

I will be raising a number of motions regarding all of these events soon, along with details for everything.

Our 7 SC Singles will be arriving early next week!

I don't understand why there is even talk of a motion since, at this point, Garrett has made it clear that he does whatever he wants without going to shareholders.

I don't understand why there is even talk of a refund of Cog.F shares.

If Cognitive holds a motion to request a refund on avalon chips then the funds would be used to purchase other mining equipment.  The shares would be dispersed when that mining equipment is hashing.  That is the only reasonable interpretation of the contract.
"COG.F is an asset representing contracts for delivery of COGNITIVE shares that will be issued upon arrival of mining hardware purchased with COG.F funds"  

Note there is no actual mention of avalon or any other hardware manufacturer.

I haven't been following the avalon mess that closely - is everyone getting refunds, or just people who asked?  Are we in a group buy that has gone the refund route?  Are we sure cognitive's avalons are a no-go then?  Links to evidence if possible please?  Obviously, Garr comment would be best but he's a busy guy...

well technically, both Cog.F and Cog.F2 represent 20 Cognitive shares upon delivery, so I don't see it unfair joining both contracts and funds. Cog.F holders have the early bird advantage (and already had to show a lot of patience).
It would be rather disappointing for investors getting a 2.5 BTC refund after having waited 6 months and then having the possibility to jump on Cog.F2 for double the price.

disclaimer: I own 1 (one) share of Cog.F

Hi,
How long will the COG.F2 contracts be available for sale ?
What happen if all contracts aren't sold ?
Thx

Trading the Fund shares above face value is at the risk of the trader, don't you think? Buyer beware, and all that jazz? You are guaranteed a refund at the face value of 2.5BTC, why should the organization be responsible if you bought one for 5BTC?

I'd say refund would be a bad choice given how many people have paid a huge premium for them.  Transfer to cof.f2 seems like a better idea and would probably avoid pissing off a lot of investors/deterring them from cog.f2. 

The contracts were initially sold for 2.5 BTC each, so if there is a refund, which seems to be the best course of action, a lot of people who paid more then 2.5 bitcoins are going to get screwed.  Possibly an option between refund or transfer of cog.f to cog.f2 status could be an option?
I wonder how long the refunds are going to take form Avalon.
Peace

What's the plan for COG.F shares with Avalon out of the question?  

I presume the problem is what garr is and isn't allowed to tell us due to NDA stuff.  If the deal we are getting is really that good, they are going to want to keep it private as long as possible so they don't have to give the same deal to everyone.  That said, the poor selling performance so far is probably scaring people, along with the fact that the future of cognitive rides not only on garr but on cointerra also, so there are quite a few points of failure here.  Being in "the best position of any mining company" - which cognitive may very well be in - is still a risky place due to the entire space being risky.

With 540 shares of COG.F2 still offered at the original price, and 28 others offered at different prices, that is 32 shares being held.  Garr himself said he'd be increasing his cog position, I wonder how many of the remaining 32 shares he is holding?  Buying 10 or 20 certainly seems reasonable for him (presumably he trusts himself and cointerra).

Garr, can you comment on what happens if not all of the cog.f2 shares sell?  Are partial deals still possible?  will we simply get some reduced hashrate, or will the entire deal fall through and the cog.f2 funds be refunded?

-Carl

EDIT: FWIW, 24 BTC, or 66% of my current BTC portfolio is in COG, COG.F, and COG.F2.  I originally bought cog when it was around 0.16BTC/share and I have been very happy with the way it has been managed.  the F and F2 contracts seem like a great way for more people to buy-in and for all shareholders to benefit from increased buying power (which is everything in the mining hardware market).  I already rode cog from 0.16 to 0.95 once, and I look forward to doing it again.

asks for CogF are lower than bids for CogF2

Thanks Garr, I bought back in.  Keeping regular updates makes a big difference... especiallly in bitcoin land.

thank you very much for information and resolving dividend issue! :-)