I'm going to quote Garrett's last post for posterity: Hello all,
Before signing off for the last time I just want to clarify a few things. The first being that I never stole from Cognitive Mining. The second being the 1 week delay in the hardware being online.
The reason for this: The initial CoinTerra boxes were sent to a Washington State datacenter who refused to bring them online without payment for an entire 1 megawatt of power consumption. I had plans to have 1mw+ of power online in November, hosting for a friend who made a large hardware purchase, so this should not have been a problem. Said purchase was delayed into May 2014 and the datacenter refused to set up temporary hosting so we had to scramble to find a place for them. Now they reside in Icedrill.
With regard to Goat: He and I did not reach any such settlement and he, yet again, is lying in order to stir things up. I simply do not have the funds to buy shares back; Even after I am compensated for the hosting when I paid for it out of pocket (as specified in the motion), I'm coming out of this with very little money at all.
The project was initially created because I am a computer geek who enjoys the idea of bitcoin mining, and is enthused by the technology that surrounds it. I did not start the company to make money (hence the minimal 10% cut), but in the spirit of education and knowledge. At the time, I thought it was perfectly harmless and I was doing absolutely nothing wrong. I have learned a ton so far and I appreciate those who participated in the IPO enabling this project to get off the ground. For period of over a year Cognitive Mining was viewed as the best bitcoin mining project around. Taking into account the bitcoin price at the time of IPO, people who bought in then are over double in terms of USD at the current share price of 0.01 and bitcoin exchange rate of $500.
The success of this project has always been my priority, and I give my best to all who maintained a realistic presence throughout.
I wish everyone the best of luck going forward, and I apologize for the fact that things are ending in such a way.
Cognitive Mining LLC is no longer liable for any past or present action or involved in the management of this project in any way. It is fully within the rights of Cognitive Mining LLC to find a new operator and resign. |
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All further correspondence with the new management shall be via email.
Thank you Shareholders need to discuss with each other what actions they would like to take moving forward, and locking the thread prevents that. If you want all correspondence to "new management" to be handled via email then that is your prerogative, but I think we have the right to speak to each other in an open forum regardless. |
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Sorry Mentor Palokaj, but the contract does not state that the operator may transfer holdings.
Also, who the hell is Mentor Palokaj.
Also, Goat I sent you a valid email address. Two, technically.
You needed to send me an e-mail address that could accept attachments. Your "temp" e-mail service was not acceptable and would not take my e-mail. I gave you my personal gmail address, too. The first email address was a throwaway from Mailinator but I did not realize you intended to send attachments. I'm sorry. Instead of communicating with me what you needed, you instead replied: okay so i sent you all the info and you did not even send me a real e-mail address. is this a game to you? wtf? and ignored my two replies after that. I'm still interested in the information, please use the personal gmail address I gave you. |
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Sorry Mentor Palokaj, but the contract does not state that the operator may transfer holdings.
Also, who the hell is Mentor Palokaj.
Also, Goat I sent you a valid email address. Two, technically.
Also, the dividend marked for today is still fake.
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I just received a dividend announcement from Havelock saying: The fund COG has announced a dividend!
Dividend Pay Date: 2014-04-21
Dividend: 0.00025841BTC/unit
Dividends will be paid out on the payment date shown I noticed that that my balance and the total dividend multiplied by my units are not displayed, which are usually included in the email, so I log into Havelock to check things. I see my balance is 0.07134640, which I also think is strange because I thought my balance was around ~0.07 last week as well, so I check back to my last email from Havelock: You have received a dividend payment from fund: COG
Your Units: 62
Dividend: 0.00023341BTC/unit
Total Dividend: 0.01447142BTC
Your new account balance is 0.07134640BTC Therefore, I received a "new dividend" email today missing the usual stats, and my balance has remained unchanged, indicating that I did not receive any dividend at all. I guess Dividends will be paid out on the payment date shown could mean that an announcement was posted and the funds will be dispersed later today, but that's still different from past activity and I don't know what the Havelock operator dashboard looks like. Discuss. |
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Your 'hint' of 'threatening with the FBI/SEC' was of little value and probably why at least two people thought you sounded like a dick. Clearly laid out instructions of how you got your money back would be more valuable. Just like your 'hint' of having information about shipping or tracking numbers was of little value, but actually having the tracking numbers would have been of great value. Anyone else agree with me?
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I mean, you either tell us something if you want to or shut the fuck up. What kind of a schoolgirl like behaviour is this ?
Garr is that you? If not what I did was point out he lied yet again. Should not really be a shock at this point but whatever. You defending his actions is pretty lulz however. And since I am still a shareholder what he does with the stolen funds is pretty much on topic. He's not defending anyone, he's saying you're being a dick by flaunting how you've recovered all your money among an audience of those who haven't. |
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Remember the radio silence before Gox's bankruptcy?
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http://oi62.tinypic.com/2e1ykwo.jpgAs you requested I removed the tracking. Fair enough. However if you claim this is faked I hold the right, as we agreed to, to forward this e-mail to anyone who asks. Without tracking I don't see what is relevant. Can you elaborate on what this picture shows? When Garr was shipped the units from CT. As he did not want the tracking posted that is fine for privacy reasons as long as he does not say that this is fake and he admits the document is correct I will not post the tracking numbers. However if I need to prove that this is not fake I am willing to do so. Edit: I'm only post this because I guess the document was not understandable with out the context. I really do not want to take part in this thread anymore unless you have direct questions like this to me. I'm pretty much over trying to improve Cog or get Garr to do his job. Ok so we have proof of shipment. What we need are tracking numbers for proof of delivery. So since we have confirmation of shipment:
They are still to be delivered.
Bullshit Tracking #? Tracking numbers have not been released because the units have not been shipped. I will gladly post them and a confirmation from CoinTerra when they ship. Let's see the tracking numbers. |
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Motion: Remove CEO of Cognitive and replace with interim board of top 5 shareholders until such time that someone else can be appointed as operator and treasurer or multisig wallet can be implemented.
Sorry Garrett, I like to smell the roses and life is too short to worry about the small stuff and all that, but your management decisions have caused severe dwindling of the trust and value I placed in you for years now. Cognitive as a company may survive but I don't think it is going to happen on your watch. Once anyone looks through the last few months of pages in this thread, why would anyone be stupid enough to ever invest again unless it was just to bottom feed and sell to a greater fool? You'll never get further funding for more hardware so Cog3 and 4 are toast. This isn't negativity, it is just calling it like it is. I am not making allegations of theft however ridiculously shady things have looked, but it is clear from my point of view that things have been slipping out of control for you for quite some time. Goat may be somewhat rabid and dramatic but having people do that type of thing as a large shareholder really reflects just as poorly on you as it does him.
Is it possible for shareholders to have enough unity to force Garrett's hand in giving up operator status and having the interim board either liquidate or carry on with better trust-less and transparency-minded solutions guided by the obviously talented individuals who have been contributing time and effort into this company?
We need a voting platform that is held by a third party to keep everything on the up and up or there will be allegations of fraud again. How can we do this?
I have lost big in this , but have have already cut my losses as I knew the risks going in.
If Havelock made an API call for share ownership I could build a rails app for voting based on the number of shares someone owns in an asset. |
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Then do it because the second motion is not over yet. Historically I'm pretty sure we've been having 7 day votes.
Based on the facts I see so far, we have voting results for the second motion I posted but not the first one. Is this correct?
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I'm saying we can safely assume 7 days because that was agreed on in one form or another in the past, once we moved away from the 2 week thing, and also based off the fact that the first motion was 7 days.
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Ah you are sort of right robotnik. One had start and end times, the other did not (but we could probably assume 7 days). Here are the two motions. Motion Start Date: 3-20-2014 Motion End Date: 3-27-2014 8:00 PM PST (GMT -7) Motion Terms: - Refer to the most recent revision of the contract: http://cognitivemining.com/contract.htmlLiquidation Terms: - As always, one share = one vote - If over 90% of votes are to liquidate their hardware, all of Cognitive's assets will be liquidated. - If under 10% of votes are to liquidate their hardware, none will be liquidated. - Shareholders have the option to liquidate 50% of owned shares. - Cognitive will do it's best to sell hardware for the highest price possible while maintaining the goal of selling within one week, so as to provide a quick turnaround for those wishing to liquidate. Something that should only be shared among shareholders: Soon, we will have the option to purchase in-stock hardware from Hashfast for under $3 per gh. We will Never send them money for hardware not being shipped the same day. The forum is increasingly bloated so I will be making all important announcements via email. As previously implied, things will be getting increasingly better for Cognitive after this hardware gets online, and those who want out can easily liquidate their hardware. Please reply to vote with the following format and we will take care of the rest: Motion: YES/NO Liquidate: YES/NO Best regards, and my sincere apologies, Garrett And then emailed March 27, 2014 12:29PM: It is now necessary for Cognitive to pay for hosting fees directly, as opposed to me using my personal dividends to do this.
Vote "YES" for the reserve fund to cover hosting expenses from the time my personal dividends were insufficient forward.
Vote "NO" to liquidate all Cognitive mining assets and disperse via a large dividend.
Best,
Garrett So which one is the google doc for? My votes were counted for the second one. |
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So that's a yes right? I did the shareholders a service!
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I'm kind of hard up on money right now, so if he gives you the 25BTC can I have like 5 for doing the heavy lifting?  |
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I originally voted against liquidation but I am inclined to change my vote (given the recent "mathing" - which though I haven't verified, looks legit). Garr, Sam, if you have a counter-argument to "300BTC versus 50BTC", you should post it now, or expect a flood of vote changing. =/
Garrett agrees with the math. Assuming these calculations are correct, it seems that our best option is to liquidate. Garrett is going to post the current results of the motion on the Cognitive Mining website tonight. More updates to come. - Samuel When this was posted I had well over 225 shares. The motion was closed. I had every reason to expect it was closed. Actually, Goat, you make a good point with the question: When was the official end time of the motion? It turns out, if you refer back to the official motion email: Motion Start Date: 3-20-2014
Motion End Date: 3-27-2014 8:00 PM PST (GMT -7)
Therefore the entire vote tally is inaccurate, since share ownership was calculated only hours ago. According to those dates, share ownership should have been calculated while trading on Havelock was still frozen. |
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We don't need him to say anything about you. He said he would post tracking numbers himself, as I have quoted.
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http://oi62.tinypic.com/2e1ykwo.jpgAs you requested I removed the tracking. Fair enough. However if you claim this is faked I hold the right, as we agreed to, to forward this e-mail to anyone who asks. Without tracking I don't see what is relevant. Can you elaborate on what this picture shows? When Garr was shipped the units from CT. As he did not want the tracking posted that is fine for privacy reasons as long as he does not say that this is fake and he admits the document is correct I will not post the tracking numbers. However if I need to prove that this is not fake I am willing to do so. Edit: I'm only post this because I guess the document was not understandable with out the context. I really do not want to take part in this thread anymore unless you have direct questions like this to me. I'm pretty much over trying to improve Cog or get Garr to do his job. Ok so we have proof of shipment. What we need are tracking numbers for proof of delivery. So since we have confirmation of shipment:
They are still to be delivered.
Bullshit Tracking #? Tracking numbers have not been released because the units have not been shipped. I will gladly post them and a confirmation from CoinTerra when they ship. Let's see the tracking numbers. |
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http://oi62.tinypic.com/2e1ykwo.jpgAs you requested I removed the tracking. Fair enough. However if you claim this is faked I hold the right, as we agreed to, to forward this e-mail to anyone who asks. Without tracking I don't see what is relevant. Can you elaborate on what this picture shows? |
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It's just universally stupid to dump shares in the middle of a motion and expect those votes that no longer exist to count for some reason.
If you're going to take someone to court then do it, stop being an immature drama queen on the forums. If you want to make a bet then do it and don't complain that it is 20BTC instead of 200BTC. If you are 100% confident in being right then a win is a win.
For all the bashing on Garrett about being all talk and no execution, I can say it has been even more of a nuisance reading Goat's pages upon pages of melodrama that have done nothing but distract from meaningful discussion to get things done.
Thank you investr for your calm approach. I really can't believe someone probably twice my age is half as mature. I will look back in the Goat drama of the past few minutes and quote then respond to the meaningful posts, I saw a few in there. I'm hardly calm, just tired of the bullshit. Including yours, Garrett. I don't quite feel like it has sunk in for you that you have lost many people thousands of dollars. If anything, it should be you that's as emotional as Goat is right now. I know I would feel terrible in your position, and do anything I could to rectify it. So I'll leave the discussion tonight with one open-ended question, since you have not been very good at answering specific ones lately: How are you going to recoup the several thousand dollars I have lost? |
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