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)
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. |
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(The following is not related to Cognitive)
alincoln, I do realize that that would be the best case scenario for you. However, please acknowledge that I am taking a heavy loss on this one, so please accept a full refund of your initial investment Plus all dividends up to the last one that was paid. With that case, you've still made more money than just holding coins, which is pretty damn good.
I hope you believe this request to be reasonable. It's the best I can do.
I accept your offer. However if you are leaving half to be paid later as you said, I expect as a minimum that you schedule monthly payments according to your personal mining revenue and finish paying in 2014. I own 7712 bonds and my withdrawal address is 1Bqg9YKE25U1BRCRm3pJiGsiFE5vvgirtB Please confirm and post here. Repayment for FIMB ( BTC38.56) will be sent sent to alincoln today, 1Bqg9YKE25U1BRCRm3pJiGsiFE5vvgirtB txid: |
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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
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(The following is not related to Cognitive)
alincoln, I do realize that that would be the best case scenario for you. However, please acknowledge that I am taking a heavy loss on this one, so please accept a full refund of your initial investment Plus all dividends up to the last one that was paid. With that case, you've still made more money than just holding coins, which is pretty damn good.
I hope you believe this request to be reasonable. It's the best I can do.
I accept your offer. However if you are leaving half to be paid later as you said, I expect as a minimum that you schedule monthly payments according to your personal mining revenue and finish paying in 2014. I own 7712 bonds and my withdrawal address is 1Bqg9YKE25U1BRCRm3pJiGsiFE5vvgirtB Please confirm and post here. Actually Kakobrekla is terribly wrong. Half repayment ( BTC38.56) will be sent sent to alincoln today, 1Bqg9YKE25U1BRCRm3pJiGsiFE5vvgirtB txid: |
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Just ordered 20! 19*20=$380 Express shipping=$15 total=$395 Bitstamp rate: $784.03 395/784.03=0.50380725 Payment sent to 1J8y3SLzGoY2gLYScsbTZmUH7dW18J1q4S From: 15GTGr7Prgef7DPAVXZTcFzfudSRDNDd9r 1QDQmzJWHbtcgSLcXUoRWPzdfXNebHUCDD Thanks! You'll probably sell out of these as fast as people can get their hands on GPUs  |
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(The following is not related to Cognitive)
alincoln, I do realize that that would be the best case scenario for you. However, please acknowledge that I am taking a heavy loss on this one, so please accept a full refund of your initial investment Plus all dividends up to the last one that was paid. With that case, you've still made more money than just holding coins, which is pretty damn good.
I hope you believe this request to be reasonable. It's the best I can do.
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My apologies MilkyLep, I missed your quoted post. Yes everything is ready to go to receive hardware. The live charts are in developments and will be completed ASAP. The remainder of your inquires have been addressed throughout the posts following yours.
I fully believe we need to hire a PR manager, as my time can be much more effectively used actually working on things as opposed to maintaining this thread.
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I've heard negative things about middlecoin with regards to lots of downtime or errors. I believe what it came down to was that the service was an experiment that did not scale well with its popularity. Not sure how true or accurate that is today, but beware.
Yes it is true that middlecoin had some problem due to its popularity but I think that the owner is very aware of that and try his best to have an uptime close to 100%. Even if that pool get offline, I suggested to setup one or two backup pool thanks to a watcher. The goal is to switch automatically to the next pool whenever the main pool is offline. That way we cannot loose any minute of hashing. i have privately been told good things about tompool.org but someone i have met in person. They do not exchange the alts for you though, this would need to be done manually, or you can set cryptsy up with auto sale after deposit
That could be the first backup pool. Yes, we will certainly have an abundance of backup pools. tompool.org looks like a good alternative indeed. More GPUs are in the mail to us! Will post pictures after the next rig is set up. |
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If anyone can make the purchase 1:1 it'd be appreciated.
Thanks,
Garrett
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These are really great news.
For the bitcoin mining, the difficulty is lower than the best scenario we imagined. This is so awesome.
Thanks Garrett to make the GPU RIG working as fast as you can.
Please concider pointing the GPU RIG at middlecoin.com so everyone can see the mining transparently. This pool is optimised to mine the most profitable coin and pay directly with Bitcoins. That is exactly what we need. Please have a watcher like CGWatcher to monitor, restart the miner or the system in case of hardware failure. You also need to add at least one backup pool (2 or 3 would be better) in case middlecoin goes offline.
I've done some investigation and really like the middlecoin setup. Once all our sCrypt rigs are complete I will make a dedicated bitcoin address and point all the miners to it via middlecoin. |
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It's also worth noting that earlier (Dec. 10th) I ran some projections ( https://bitcointalk.org/index.php?topic=67547.msg3916609#msg3916609): Difficulty at the end of January (low projected) => 908mil * ( 1.284**4 ) => 2468mil
Difficulty at the end of January (middle projected) => 908mil * ( 1.35**4 ) => 3015mil
Difficulty at the end of January (pessimistic projected) => 908mil * ( 1.50**4 ) => 4596mil
We are currently at 2.19mil, under the lowest projection I made. Things are going to ramp up when cointerra ships, no doubt, but we are on track to make a tidy sum still. Indeed we are! The Litecoin situation is going well. Our first rig is ready to go physically -- I am copying BAMT to a flash drive as I write this, so we will be online within the hour! P.S. Emails have been sent to FIMB holders regarding repayment. Please confirm here. Also, please review the quote below if you have not read it above. I am turning Cognitive around. Cognitive is run by a guy who has little time. I suggest he gets Cognitive right first, before venturing into every possible available altcoin.
Yes but this part could be managed by an other person. The is no geographic requirement so anyone from this group could do it. We can have a small CPU team like : - One person that write and test the auto-install script - One person that decide which coin to mine according to calculation - One person that rent servers and copy paste the script - One person that sell the coins on this forum or on exchange Everyone could check the mining pool data and the main wallet. It is all about getting a bit organized and having some staff or volunteers. I too agree that in order for Cognitive to be wildly successful like it once was more people need to come on board on the management front, preferably shareholders, because we all have a vested interest in the company succeeding as opposed to contracted workers. As the New hardware arrives, I have a plan to correct Cognitive fully: First, total 100% transparency is entirely necessary. All book keeping will need to be done meticulously. There will not be an expense that goes unaccounted. Every thirty days a comprehensive, formal expense report will be posted in addition to the website inventory being updated the same day as a transaction. Second, we need to find members willing to help this recovery process. People for PR, for research (which includes new hardware, new tech, and pricing on existing tech). Third, the entirety of the hardware will soon be moved to a fully managed datacenter where power is $0.025/kWh, which is the cheapest in the nation because of an abundance of hydroelectric power. As always, I love to hear constructive input of all sorts. It is my goal to make Cognitive the highly desirable asset it once was. |
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Nice words, lets see if any actions follow. Edit: The Avalon chips that were purchased using FIMB funds are now sitting in a box, because they arrived so late it was not worth it to assemble them. I did not have the option to refund. Regardless, FIMB holders will be reimbursed. Why are the Avalon chips listed on the cognitive website as expense? Reimbursed from your personal funds or the funds you owe cognitive shareholders? Avalon chips were *also* ordered by COG. Those avalons were able to be refunded and the refund was applied towards the cointerra order (hence, COG.F1 and COG.F2 will both mature when the cointerra order arrives, COG.F1 was originally for an avalon order which went sideways). If Garr is doing it right, the ones listed on the cog website are only the cog order, but Garr should be able to confirm that for us. Confirmed. Also Moderators, please remove the above spam. Go to https://bitcointalk.org/index.php?topic=67547.msg4791447#msg4791447 to scroll above kakoberkla's spam.Thanks. |
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The game is over and all have been repaid in full. This ended just under a year ago but I never updated this post. Will update now.
Edit: Locking now also.
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Cognitive is run by a guy who has little time. I suggest he gets Cognitive right first, before venturing into every possible available altcoin.
Yes but this part could be managed by an other person. The is no geographic requirement so anyone from this group could do it. We can have a small CPU team like : - One person that write and test the auto-install script - One person that decide which coin to mine according to calculation - One person that rent servers and copy paste the script - One person that sell the coins on this forum or on exchange Everyone could check the mining pool data and the main wallet. It is all about getting a bit organized and having some staff or volunteers. I too agree that in order for Cognitive to be wildly successful like it once was more people need to come on board on the management front, preferably shareholders, because we all have a vested interest in the company succeeding as opposed to contracted workers. As the New hardware arrives, I have a plan to correct Cognitive fully: First, total 100% transparency is entirely necessary. All book keeping will need to be done meticulously. There will not be an expense that goes unaccounted. Every thirty days a comprehensive, formal expense report will be posted in addition to the website inventory being updated the same day as a transaction. Second, we need to find members willing to help this recovery process. People for PR, for research (which includes new hardware, new tech, and pricing on existing tech). Third, the entirety of the hardware will soon be moved to a fully managed datacenter where power is $0.025/kWh, which is the cheapest in the nation because of an abundance of hydroelectric power. As always, I love to hear constructive input of all sorts. It is my goal to make Cognitive the highly desirable asset it once was. |
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I will be emailing FIMB holders tomorrow evening regarding repayment. I will be able to repay the bonds and I will send as much payment as possible tomorrow. The transactions will be publicly viewable to all.
I have made some strategic relationships over the weekend and I will be able to make things right with all involved. Not another day will pass with any of my bitcoin affairs being neglected, you can be sure of that.
Edit: The Avalon chips that were purchased using FIMB funds are now sitting in a box, because they arrived so late it was not worth it to assemble them. I did not have the option to refund. Regardless, FIMB holders will be reimbursed.
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I've spoken with Ravi, and out CoinTerra Hardware is on track for a late-January delivery! Wow, so they arrive in approximately two weeks?  Yessir! Finally we wil get the machine and start mining. And our f1 f2 will get the dividends too? That's a great question - historically we have had delays which have been attributed to havelock not moving as fast as we like. Are there any potential blockers to F1 and F2 converting, or is it self-service and you can just click a button, Garr? I just have to send Havelock an email and they will handle the conversion promptly. The current share totals for all assets are: Cognitive: 10420 shares, 9577 of which have been claimed. COG.F: 100 Contracts, 96 have been claimed COG.F2: 100 Contracts, 95 have been claimed Initially, COG.F2 was set up to sell 600 contracts, but only 100 sold before moving to Havelock, therefore the remaining 500 still "for sale" did not transfer. Theterabyte, I believe you are correct that hiring some help will be in the best interest of Cognitive. Whether this is for PR purposes, programming infrastructure, or anything in between, I don't know yet. To date, whenever I have needed help with something that pertains to Cognitive, I have paid him or her out of pocket. I am having some electrical work being done to our current warehouse, converting some 240v lines into 120v, in preparation for our new hardware. This will be completed on Tuesday of next week, the same day our Litecoin rigs will be complete and hashing. I will be posting pictures and potentially video of the completed setup. With regard to the time necessary to continue operation of Cognitive, I know this has been an issue for the past six months. As some speculated even a year ago, university has been a distractor from Cognitive. To counter this, I am taking a schedule of classes that only occur two days per week, Monday and Wednesday. With additional focus on Cognitive, and a bit of hired help I am determined we can restore Cognitive to the state it once was. |
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I've spoken with Ravi, and out CoinTerra Hardware is on track for a late-January delivery! Wow, so they arrive in approximately two weeks? Yessir! |
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Hey all, I've spoken with Ravi, and out CoinTerra Hardware is on track for a late-January delivery! The sCrypt hardware is scheduled to arrive Saturday, and will be fully online on Tuesday. I have been unable to send out this week's dividend because I can't make the payment via mining.bitcoin.cz:  If the site isn't back online today, last week's dividend will be combined with this week's, making a double dividend on Saturday. --Garrett How about the FIMB dividends which were promised for December and which you claim to have emailed bondholders, but I got no email from you nor a reply from the PM I sent you? Please email me back at garrett[at]cognitivemining[dot]com I get tons of PMs and emails daily so some may go overlooked. I apologize for this! |
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I talked to a guy a few days ago who is creating a sCrypt bitstream for the x6500s which will be finished in a few weeks. It may or may not be more profitable than mining btc on them, but keep your eyes open for that Did you ever hear anything more about that? If we could get a scrypt bitstream running and point the miners at middlecoin or something that automatically converts the proceeds to BTC, we'd mine much more than we ever will just mining BTC. I haven't, I'll ping him again. |
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Hey all, I've spoken with Ravi, and out CoinTerra Hardware is on track for a late-January delivery! The sCrypt hardware is scheduled to arrive Saturday, and will be fully online on Tuesday. I have been unable to send out this week's dividend because I can't make the payment via mining.bitcoin.cz: If the site isn't back online today, last week's dividend will be combined with this week's, making a double dividend on Saturday. --Garrett |
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