He's selling an SC Single, not a SC Mini Rig. |
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Currently Cognitive has an order paid in full for seven BFL SC Singles.
Are these the 60GH/s singles? Just double checking. Yes. |
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How many paid pre-orders and from whom does the main security currently hold?
Currently Cognitive has an order paid in full for seven BFL SC Singles. I'd certainly feel more comfortable sending BFL additional preorder funds after we see a working product shipping from them. When were the BFL pre-orders placed? (Apologies - I'm sure this is something I'd learn if I deep-read the whole thread) I agree that prudence is key in dealing with BFL. Also - are the 2000 COGNITIVE shares to be delivered pending the completion of the COG.F sub-asset contract current treasury shares or will they be new issue? The BFL orders were placed in the middle of last year. I'd give you the exact date and order number but Bit-Pay's invoice system is down right now so I can't check at the moment. Scratch that -- I just remembered BFL has a new invoice system of their own  The order was placed on 7/14/12 and it is # 3277. I just checked and the order numbers are up to above 10,000 now so it's safe to say we got in fairly early! The shares to be delivered to COG.F holders will first come from the Cognitive holdings originally intended to be sold for Avalons (as per the final GLBSE motion) and then new shares will have to be issued to meet the COG.F demands. The Cognitive portfoio is public and can be viewed at https://btct.co/portfolio/frc2Why have the value of my shares and dividend payments decreased so much? I've lost a lot of money on this fund now, not pleased with the directions it's taken since the exchange switch and now you are taking more money for another fund? What has come of the original one? Will it be receiving any dividends from these asics?
lol your unhappy with the way cognitive is being run? Then sell it don't complain here if you don't know what your referring to. Do you see something Garr could be doing that he is not? If so we would all love to here it. If not please don't fill the thread with unfounded complaints.
On the other hand anyone who invested in Cognitive should know how many pre-orders we have and when we ordered them. Also if you spent your own money investing in cognitive you should know that half of the divs are being held in a growth fund now to purchase more equipment at a future date. As for Cog.f can you not read its not another fund, its a way of raising capital for cognitive to buy more equipment all of which leads to higher cognitive value and div.
Well said, Code_red. I'll cover what he missed. COG.F contracts will be converted to COGNITIVE shares upon arrival of hardware purchased with the COG.F funds. Because of this, your dividends will be higher while hardware delivery is pending, and ultimately your shares will be worth more, because of the newly acquired hardware. For more specifics, please refer to the motions and contracts (as Code_red and others have done) here and here. If you have any other questions, I'm always happy to answer. --Garrett |
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I had over 100 coins with him at the time of shutdown... and those are suddenly becoming more important to me (Both because they're worth $75 each and I need 15k for college  ) |
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can a mod please lock this topic
As much as I hate what's being promoted here, it's difficult to present to me a topic I despise more than censorship. |
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How many paid pre-orders and from whom does the main security currently hold?
Currently Cognitive has an order paid in full for seven BFL SC Singles. I'd certainly feel more comfortable sending BFL additional preorder funds after we see a working product shipping from them. |
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I have to agree with stochastic here, in that waiting is going to be a good choice for two reasons: - Avalon ASICs are going to be sold for 75btc each in the coming weeks (http://launch.avalon-asics.com/#tab-03), which is because they aren't aiming to sell a ton, but rather keep them for themselves and mine away.
- By the time an opportunity to purchase reasonably priced ASICs rolls around, bitcoins might be worth more than they are now.
I do believe that it is wise to have these funds on standby, so when the opportunity comes about we can quickly take advantage of it. |
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Pretend for a moment that we are in $0.68 territory, and the all time high is $0.75. Now imagine that you can predict the future and see the price going to $32 and then one day, $75. Well, the way I see it, that could be similar to what's happening now only with price x 100.
I think the next few years will feel like deja vu and we'll be looking at $6000 bitcoins.
Then I can pay for college  ...and a plane! |
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OP is neglecting to include my and the one other users' negative $500 contributions. So the actual bounty is really still $500.  |
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It's a tough call on assessing the Avalon purchase, but if anything is certain it's that you would have to be insane to give any more money to BFL before they prove to have shipped/working units.
I agree. I also want to see a working product before purchasing more from them. I'd rater us have control of the funds than BFL while we're waiting for the product! Garrett, have you tried logging into BFL's new order tracking page yet?
Yes. Although It's not very helpful; it just says "pending". |
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Garrett, are you still considering an Avalon purchase after reading today's news?
Thanks,
Dave
Hi Dave, I haven't seen any formal confirmation from Avalon regarding the price adjustment for the Avalon ($5000 USD). If I'm missing something please send me a link! I believe that, at the $5000 price point, an Avalon would still be worth it if we didn't expect BFL to ship a significant sum of ASICs for another few months. Keeping this in mind, our decision will be based on the coming updates from BFL, and what the actual price for the Avalon comes down to. Currently we have 28btc in Cognitive's growth fund (and we will have over 30 after the dividend Saturday), and 50BTC raised via COG.F. At the current exchange rate of $60 this gets us almost all the way to the $5000 we need. I'd be happy to spot Cognitive whatever remaining funds we need (~$200). So we will have the funds to purchase an Avalon if it does end up costing $5000.So shareholders, what are your opinions regarding this? I see the three options being purchasing the Avalon, purchasing more from BFL, or waiting it out. Best, Garrett |
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Same with me, address 15HpBoo2DqaeJPW28ATzZMNnUTfqZQYA9H
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Of Avalon? Yes. BFL? No.
Correct. |
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Electrum is awesome. It's a perfect "light" version of Bitcoin, ideal for mobile devices. I use electrum on my laptop because I'm typically tethered to my phone which is a metered connection.
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Good morning everyone! The first few hours of COG.F sales have been decently successful. We currently have the funds to purchase one Avalon ASIC. The Avalon team should be accepting orders for their third batch of ASICs in the coming weeks. I will do my best to get in on the preorder (Usually a <6 hour time frame). If by chance I miss the opportunity to purchase the Avalon, another BFL SC Single will be added to our previous order from BFL, so it will be sent out fairly quickly Cheers, Garrett |
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One pitfall to be wary of is that COG.F shares are fungible.
If you sell 50 shares and order an ASIC then sell another 20 shares you have no way of determining which 50 shares of the 70 outstanding are the ones that should be converted when the ASIC arrives. Only way around this is to start a new ticker every time you place an order. That also makes sense as if you sold 50 and ordered an ASIC, then sold 50 more and ordered another ASIC, the price of the first 50 sold SHOULD rise due to them being nearer arrival than the second 50.
Not seeing any other way to do it short of manually tracking the shares and then manually upgrading just the ones entitled to an upgrade as each ASIC arrives.
You're right in that using the same ticker for multiple rounds of funding would be cumbersome, but there is an easy method to circumvent this. The way this is going to work is simple: We raise funds through COG.F, purchase the hardware, then wait for it to arrive. Once the hardware arrives the COG.F shares are traded back to Cognitive in exchange for standard COGNITIVE shares. Then the asset COG.F is free to do another round of funding. If we want to raise more funds between the time that the COG.F hardware purchase is made and when it is delivered, we simply create COG.F2 and repeat the process with that. Cheers, Garrett |
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Great news everyone! COG.F has been approved on BTC-TC: https://btct.co/security/COG.F and you can now place bids on the contracts. The first 100 will be listed for BTC2.5 each at 10:00 PM PST on Sunday the 18th. Cheers, Garrett |
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Hey all, This morning I gave BTC-TC my application for approval of COG.F The first contracts will be sold in a few days when the asset goes live on the exchange for 2.5btc each. Before then, I am accepting bulk orders of these shares at the rate of 45btc per 20 COG.F shares. How many COG.F contracts are you going to issue? Initially 100. More will be issued if there is significant demand. (A few people have contacted me recently regarding making large investments in Cognitive, so it is likely that demand for these contracts will be high.) What happens if there is not enough demand? Do you have a deadline for hardware purchase or can the funds stay in limbo forever? Honestly, until reading your post I had no plan for this, because that's how confident I am that the fund will get funded. I'm all for having a plan B though, so: If there isn't enough demand to purchase a single bitcoin miner after a week, COG.F purchases will be refunded. --Garrett |
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I will pledge negative $500 to this noble cause. So now the total bounty is $0. Any takers? *silence, occasional cricket chirping*  Bush says "boo-yah". |
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Coin received. Thanks to all who played (except for Jakers, you, sir, are a dick) |
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