Posting this here because I never got a response. This was sent on September 25. Did group buyers here help pay for Cognitive's latest order of hardware from CoinTerra? Hello Garrett,
Thank you for processing the refund, I checked my wallet before leaving for work and saw the funds. I know this task required more energy and time than we all foresaw. I'm thrilled that everyone was able to receive a semblance of return when the situation with Bitsyncom looked so bleak and dim.
However, even though I expected a fee for your work and time devoted to the group buy I find it strange to only refund a portion of what you charged everyone. Premium priced, undelivered chips were sold to group buyers yet only a fraction of the funds were refunded. I don't feel it's right to demand a full refund for reasons I've stated earlier but something closer to .9 btc/chip seems it would be beneficial to all parties involved. This would allow you to collect a deserved 10% fee while ensuring chip participants don't lose ~20% of their "investment."
I believe facilitating further explanation and discussions on the forum would be in everyone's best interest. Although I understand the group buy was a separate project from Cognitive I don't doubt people will bring awareness to any clear implications.
I look forward to hearing from you in email or on bitcointalk.
Best Regards,
MilkyLep Sorry, I missed that question. The answer is no. --Garrett |
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Thanks for the laugh  |
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Hello everyone,
As someone holding FIMB shares on BTCT.CO I thought of coming here and ask why no dividends have been paid in October. Has Garrett made any announcement regarding this issue?
So there is no answer to this? I see it a rather serious situation as technically Garrett is on default and investors don't seem to care. Even if you don't have FIMB shares but are holding Cognitive shares this should be of concern to you. Garrett, can you give some explanation please? Hey, Now that trading is halted, dividends will be paid manually to those who have submitted their BTC address to BTC-TC. If you have not done this, I have sent you an email stating that dividends will go out only to those who have submitted an address started November 1, and October divs are being delayed until the 15th to allow fair time to submit BTC addresses, so as to ensure no btc are stuck in BTC-TC after the closure. I am currently working on a plan to migrate seamlessly to another trading platform. There should be very little grief involved in the process. Cheers, Garrett I didn't receive such email but might have overlooked it. Anyways I've already set the withdrawal address, thank you for informing it'll be paid on the 15th. If you have set your address you didn't receive the email, and you have nothing else to worry about  --Garrett |
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Hello everyone,
As someone holding FIMB shares on BTCT.CO I thought of coming here and ask why no dividends have been paid in October. Has Garrett made any announcement regarding this issue?
So there is no answer to this? I see it a rather serious situation as technically Garrett is on default and investors don't seem to care. Even if you don't have FIMB shares but are holding Cognitive shares this should be of concern to you. Garrett, can you give some explanation please? Hey, Now that trading is halted, dividends will be paid manually to those who have submitted their BTC address to BTC-TC. If you have not done this, I have sent you an email stating that dividends will go out only to those who have submitted an address started November 1, and October divs are being delayed until the 15th to allow fair time to submit BTC addresses, so as to ensure no btc are stuck in BTC-TC after the closure. I am currently working on a plan to migrate seamlessly to another trading platform. There should be very little grief involved in the process. Cheers, Garrett |
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Refunds for the past week will be processed today, and every Wednesday in the future until they are all claimed.
Cheers,
Garrett
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If you can afford to buy its sources for 9 BTC you could launch it by yourself.
I'd pay BTC1 tops  |
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Can you bring this game back? It was quite fantastic back in the day |
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Where can we find information about our current financial status? The website seems to be grossly out of date.
Thanks.
I will bring the web site up-to-date this week. Sorry for the delays there. |
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can i ask what is happening to congnitive shares held on btct? i don't think i have noticed any updated posted
From what I can tell, Garret is trying to move to a different exchange. We don't know which one for sure. Until then, it's business as usual on btct.co That's correct; I will updating shareholders as things progress. Luckily there is not a huge rush to move to another exchange, so we can take our time and do it right. Best, Garrett |
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Simply take the sha256 hash of the ID and boom, there's your private key That's a fantastic idea and I'm going to use it now |
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I remember reading about this idea a long time ago and talking about it on IRC, and I love it. I'll toss a BTC to whoever gets this done!
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Thanks for the update Garret. When will you merge cog1 and cog2? Is there a bonus for current cogf2 holders compared to the upcoming 600 batch? Or will it be cancelled? Do you have an update of the financial status report?
Terabyte, i would expect a few steeper diff increases. What will happen when 1 or 2 next gen chips become available.. knc, am, bfl.. Look at the steep rampup in the gpu era...
I will have updates regarding all of this within the next few weeks. Thankfully, we have a good amount of time to figure things out before moving forward. --Garrett Will it GenesisBlock? I'm not sure what you mean by that? |
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I sent out refunds for all who have claimed them about two minutes ago. The refunded amount is in proportion to the amount Avalon refunded me, therefore, BTC782.1/10000 chips = BTC0.07821 refunded per chip.
Best,
Garrett
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Thanks for the update Garret. When will you merge cog1 and cog2? Is there a bonus for current cogf2 holders compared to the upcoming 600 batch? Or will it be cancelled? Do you have an update of the financial status report?
Terabyte, i would expect a few steeper diff increases. What will happen when 1 or 2 next gen chips become available.. knc, am, bfl.. Look at the steep rampup in the gpu era...
I will have updates regarding all of this within the next few weeks. Thankfully, we have a good amount of time to figure things out before moving forward. --Garrett |
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[...]
This move is positive, and I hope this will be the right move.
That is key. We are certainly moving in the right direction. And I hope this leads to many more expansions in the future, via both CoinTerra and others. There is honor involved here on CT's end of things. I am confident they will do the right thing. |
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What are the payment terms in the contract with Cointerra?
The entirety of the payment was made upfront. |
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I know COGNITIVE is planning to move to another exchange... what about COG.F, COG.F2, and FIMB? Will they be moving as well?
Thanks!
Hi, All of these assets will move to the same exchange with the same transition process as Cognitive I just emailed a number of asset platforms, asking them to convince us to use theirs. Right now I think Havelock is one of the better options. Yesterday, I placed an order for Cognitive from CoinTerra! I negotiated a discounted rate so we were able to purchase 14 2th/s boxes for a total hashrate of 28th/s, to be delivered in January! For added protection, I signed a contract with CoinTerra that includes: "If delivery is beyond January 31 2014, for every thirty days late CoinTerra is in delivery of hardware, CoinTerra shall deliver an additional 30% of the total hashpower agreed to in this contract. if no hardware is delivered within 180 days after January 31, a full refund shall be made to Cognitive." I can't wait to see where share price goes once we list on a new exchange, and as we get closer and closer to delivery This is really good, the only problem I have with it is CoinTerra should have some repercussions for not meeting their obligations after 180 days other than a full refund. Otherwise it's like a 6 month 0 percent loan. Hopefully they'll be a class act and deliver as promised. Yes, that is certainly a risk we are taking by choosing them. If they choose to take that path, they will lose all reputability and certainly lose a majority of their customer base. I believe we will be getting our hardware in early January Cheers, Garrett |
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I just emailed a number of asset platforms, asking them to convince us to use theirs. Right now I think Havelock is one of the better options. Yesterday, I placed an order for Cognitive from CoinTerra! I negotiated a discounted rate so we were able to purchase 14 2th/s boxes for a total hashrate of 28th/s, to be delivered in January! For added protection, I signed a contract with CoinTerra that includes: "If delivery is beyond January 31 2014, for every thirty days late CoinTerra is in delivery of hardware, CoinTerra shall deliver an additional 30% of the total hashpower agreed to in this contract. if no hardware is delivered within 180 days after January 31, a full refund shall be made to Cognitive." I can't wait to see where share price goes once we list on a new exchange, and as we get closer and closer to delivery |
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wait... what?
17:34 (S) 9 @ 0.10000000 COG.F2
17:34 (S) 1 @ 0.40000000 COG.F2
who is the lucky guy?
I'm curious who that is too. What a steal... I'll gladly buy all 10 of those for 1btc each! |
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I will be posting here, and emailing all shareholders with an easy "how-to" guide, describing everything you need to do to migrate. I will work to make the transition as easy as possible on shareholders.
Cheers,
Garrett
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