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Author Topic: COGNITIVE Mining, continued.  (Read 1204 times)
investr
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April 21, 2014, 10:35:29 PM
 #1

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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.

Successful transactions: http://pastebin.com/GM27Ju59
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April 21, 2014, 10:38:07 PM
 #2

thanks was just away to do that.

So Mentor Palokaj is from the Netherlands, I am currently living there. Maybe i can make contact and figure out what the hell is going on.
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April 21, 2014, 10:41:43 PM
 #3

I'm going to quote Garrett's last post for posterity:
Quote
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.

Successful transactions: http://pastebin.com/GM27Ju59
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April 21, 2014, 10:42:59 PM
 #4

garret agreed a deal with Mentor Palokaj to sell the cointerra machines at $3.3k per unit / 6.6 BTC.

Which if i understand correctly is pretty much the money cognitive is due as hosting for for 30 days?

message i was sent bellow, i asked if ICEDRILL were the new COG managment.

Quote
lol i think Garret accepted $3.3k per unit / 6.6BTC - not sure yet - will be settled next week either way cause that would make 1 month / 30 days hosting for cog
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April 21, 2014, 10:47:00 PM
 #5

Asked who?

Successful transactions: http://pastebin.com/GM27Ju59
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April 21, 2014, 10:48:31 PM
 #6

a friend who is related to ICEDRILL/petamex/digimex.
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April 21, 2014, 11:06:27 PM
 #7

How is it possible we are selling all the units and it's not enough to cover the miners hosting? Seriously, we were there like a month.

Or did I read that wrong?
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April 21, 2014, 11:14:32 PM
 #8

okay i might be wrong about MP being involved with icedrill/petemex.


So it's in a legal contract with the hosting if they don't get paid then units start getting offset to them.

a $25k hosting contract was agreed with the icedrill hosting based on out max capacity, but this never reached them.

they still want paid for the contracted amount regardless of the usage or not.
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April 21, 2014, 11:17:45 PM
 #9

When I contacted him asking if he needed my help with hosting, or if he was willing to sell the units to help recover funds for Cognitive.  I was told the units were 20 BTC each and he wasn't willing to negotiate a deal to allow me to bail out anyone who may want to continue on with a more worthwhile Bitcoin mining project.

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April 21, 2014, 11:18:57 PM
 #10

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Cognitive Mining LLC is no longer liable for any past or present action or involved in the management of this project in any way

Good thing he clarified. For a second I thought he was responsible for this mess.
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April 21, 2014, 11:19:39 PM
 #11

I'd like to note:

  • That Garrett being compensated for paying the hosting out of pocket, and the entirety of the last two motions discussing this, was under dispute and in my opinion not truly resolved.
  • His last post states he's walking away from this with [a little] money. How many of you are walking away from this with money?
  • Financial statements have been promised for months and never delivered
  • Goat has promised tracking numbers but has not delivered, at least to me.
  • The last email states "former operator has transferred all of their COG holdings to Mentor Palokaj who will oversee the liquidation of the project". While it is in the contract that the operator can choose to liquidate, it is not in the contract that the operator can transfer "holdings" and I call into question the method/legality of this liquidation.
  • Goat said Garret compensated lost share value from the 0.6/share range. Garret said he did no such thing. One of these two people is lying.

Successful transactions: http://pastebin.com/GM27Ju59
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April 21, 2014, 11:43:51 PM
 #12

Just going to leave this here for you Garrett

Quote
I'm Garrett Ian MacDonald, a high school kid who felt like creating a passive income at little cost to myself.
http://cognitivemining.com/about.html

Quote
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. 

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April 21, 2014, 11:45:09 PM
 #13

How much per share is the project being liquidated for?
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April 21, 2014, 11:57:42 PM
 #14

It was only a matter of time, but still, what a joke.
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April 22, 2014, 12:01:29 AM
 #15

What's pankkake always saying? "Scammers goin' scam!"

Either you own the bitcoins(private keys) or you don't. However with moneroj, nobody knows what you own.
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