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Author Topic: Starting a new FPGA mining farm/contract! Cognitive Resurrected on[Havelock]  (Read 281752 times)
furuknap
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July 19, 2013, 11:30:38 PM
 #1001

quick comparison between bASIC and Cognitive:

bASIC mining - 51625 outstanding shares -
Total hashrate: 925 Gh/s now
Hashrate/share: 180 Mh/s now
Price: 0.73BTC

Cognitive - 10420 outstanding shares
Total hashrate: 393 Gh/s now, 813 Gh/s when BFL delivers.
Hashrate/share: 377 Mh/s now, 780 Mh/s later.
Price: 0.75BTC

What did I miss?

Maybe a comma?

.b

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Garr255
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July 20, 2013, 09:22:48 AM
 #1002

Vote here: https://btct.co/security/COGNITIVE#tab5

Cognitive has recently made numerous succesful and effective purchases of high-powered mining hardware using treasury shares. I believe that it will be in our best interest to issue more treasury shares to have ready to be spent on hardware.

If this motion passes, 2000 (two-thousand) shares will be issued to Cognitve's treasury account. The shares will not be put up for sale publicly, and will be reserved only for purchasing hardware directly for shares. Dividends will not be paid to these shares until they are transfered out of the treasury account when used to purchase hardware, so dividends will not be dilluted because of these shares.

Between these treasury shares, and our exponentially increasing hashrate due to our growth fund, one can estimate that this will cause a rise in share value, therefore it is in our best interest to do.

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Garrett

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July 20, 2013, 04:16:41 PM
 #1003

Well I voted no an the reason why is people will just sell the shares and thus put downward pressure on the stock price.

Why not do it the way liek cog.f?



If the value for cognitive shares is there, downward pressure from sales should have little effect on long term market price. 

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July 20, 2013, 05:09:04 PM
 #1004

2000 shares could probably buy 3 Minirigs, if negotiated well. This is why I've voted yes. ~16% dilution for a 400% increase in hashrate. That's a great deal for all shareholders.
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July 20, 2013, 06:28:47 PM
 #1005

2000 shares could probably buy 3 Minirigs, if negotiated well. This is why I've voted yes. ~16% dilution for a 400% increase in hashrate. That's a great deal for all shareholders.

This is a very solid piece of reasoning, IMO. Sounds like even if it only bought 2 minirigs it'd be a good deal for shareholders then, or some other hardware worth similar GH/s.

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July 20, 2013, 06:31:44 PM
 #1006

Well I voted no an the reason why is people will just sell the shares and thus put downward pressure on the stock price.

Why not do it the way liek cog.f?


I voted no. I also think COG.F is a better way.
Since not all sellers are comfortable with selling their rigs for pure shares, their will want to sell part of these shares on market.

If we can do it half and half, say issue 1000 shares and gather some BTC through something similar to COG.F.
In this way, we can give the seller the number of shares they intend to hold, and pay for the rest in BTC, so that we can minimize our downward pressure.
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July 20, 2013, 07:47:00 PM
 #1007

Well I voted no an the reason why is people will just sell the shares and thus put downward pressure on the stock price.

Why not do it the way liek cog.f?


I voted no. I also think COG.F is a better way.
Since not all sellers are comfortable with selling their rigs for pure shares, their will want to sell part of these shares on market.

If we can do it half and half, say issue 1000 shares and gather some BTC through something similar to COG.F.
In this way, we can give the seller the number of shares they intend to hold, and pay for the rest in BTC, so that we can minimize our downward pressure.

I agree with this and a motion for another round of COG.F is coming. I do not plan to trade shares to people who intend on dumping them for BTC, as that would defeat the purpose here.

Cheers,
Garrett

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July 20, 2013, 10:20:02 PM
 #1008

Additionally, would anyone here be interested in lending to Cognitive via a nearly identical method as this? [FUNDED]NASTY MINING: 500GH/s Miner Loan

That was a fantastic way for them to raise funds, and we have the ability to do the exact same thing because we too have a 25% discount coupon.

I will pledge BTC50 of my own funds to do this. If there is enough interest here we can go ahead and raise funds for a MiniRig Smiley

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July 20, 2013, 11:22:08 PM
 #1009

Additionally, would anyone here be interested in lending to Cognitive via a nearly identical method as this? [FUNDED]NASTY MINING: 500GH/s Miner Loan

That was a fantastic way for them to raise funds, and we have the ability to do the exact same thing because we too have a 25% discount coupon.

I will pledge BTC50 of my own funds to do this. If there is enough interest here we can go ahead and raise funds for a MiniRig Smiley

If you decide to do this we would chip in.

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July 20, 2013, 11:34:34 PM
 #1010

Great!

Additionally, we have the option to order from BitFury, who I have received sample chips from already and I believe to be a very good option currently. We can order 400gh/s from them, guaranteed to be delivered in October, for ~BTC100

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July 21, 2013, 02:55:27 AM
 #1011

How much are you looking to borrow?

BTC200, because it would be enough to either purchase a MiniRig or order 800gh/s from BitFury Smiley

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July 21, 2013, 03:00:59 AM
 #1012

why not 1:10 split??
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July 21, 2013, 09:25:24 AM
 #1013

Great!

Also, for our next round of COG.F I am thinking we stick with the same contract, and just change the inital price per contract for 20 shares from 2.5 to 10 btc each. This effectively prices the contracts at BTC0.5 per share.

Our last round of COG.F sold at BTC2.5 per contract for 20 shares and is now trading at BTC12 each! I hope to see the same kind of turnaround for our COG.F holders this time around Smiley

The security will be called COG.F2 and is already pending admin approval then will be up for voting on BTC-TC, but will not become active until the motion passes, of course!

why not 1:10 split??

I do believe a split will help liquidity on the market. I believe a 1:2 split would be more beneficial for Cognitive, on the basis that we would still have the integrity of being around BTC0.5 per share. If there are no objections I'll raise a motion for a 1:2 split Smiley

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July 21, 2013, 10:49:59 AM
 #1014

Great!

Also, for our next round of COG.F I am thinking we stick with the same contract, and just change the inital price per contract for 20 shares from 2.5 to 10 btc each. This effectively prices the contracts at BTC0.5 per share.

Our last round of COG.F sold at BTC2.5 per contract for 20 shares and is now trading at BTC12 each! I hope to see the same kind of turnaround for our COG.F holders this time around Smiley

The security will be called COG.F2 and is already pending admin approval then will be up for voting on BTC-TC, but will not become active until the motion passes, of course!

why not 1:10 split??

I do believe a split will help liquidity on the market. I believe a 1:2 split would be more beneficial for Cognitive, on the basis that we would still have the integrity of being around BTC0.5 per share. If there are no objections I'll raise a motion for a 1:2 split Smiley
If you're seriously considering a stock split and favour a btc 0.5/share price for current shares and possibly the cog.f2 shares, a 1:2 split may not be enough.  The shares are around 0.8-0.9 at the moment and if they split 1:2 the price will be around 0.4-0.45, then say things go quite well and the price jumps like it did with basic-mining, we're right back to this price point in no time at all.


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July 21, 2013, 11:26:29 AM
 #1015

Great!

Also, for our next round of COG.F I am thinking we stick with the same contract, and just change the inital price per contract for 20 shares from 2.5 to 10 btc each. This effectively prices the contracts at BTC0.5 per share.

Our last round of COG.F sold at BTC2.5 per contract for 20 shares and is now trading at BTC12 each! I hope to see the same kind of turnaround for our COG.F holders this time around Smiley

The security will be called COG.F2 and is already pending admin approval then will be up for voting on BTC-TC, but will not become active until the motion passes, of course!

why not 1:10 split??

I do believe a split will help liquidity on the market. I believe a 1:2 split would be more beneficial for Cognitive, on the basis that we would still have the integrity of being around BTC0.5 per share. If there are no objections I'll raise a motion for a 1:2 split Smiley


If you're seriously considering a stock split and favour a btc 0.5/share price for current shares and possibly the cog.f2 shares, a 1:2 split may not be enough.  The shares are around 0.8-0.9 at the moment and if they split 1:2 the price will be around 0.4-0.45, then say things go quite well and the price jumps like it did with basic-mining, we're right back to this price point in no time at all.



i personally think if we are going to split might as well do at least 1/5 if not 1/10.

we don't want to have to do a split right after a split.

+1

 I say patience and split 10:1 when we actually need it. Too many here want... get rich quick.
 If this company is managed professionally and seriously with level heads, it WILL grow. FACT.
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July 21, 2013, 01:19:04 PM
 #1016

Sorry, +1. I don't see a split as an urgent matter right now.  I also don't really see any way it could really  hurt Any potential negatives from splitting?

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July 21, 2013, 02:06:09 PM
 #1017

Sorry, +1. I don't see a split as an urgent matter right now.  I also don't really see any way it could really  hurt Any potential negatives from splitting?
It can change the perception of the value of the company - though it would be purely psychological, the number of clueless traders here is quite important.
You're also changing who can buy only one share, i.e. someone who can't afford 1 BTC will be able to buy a share. Now, it can be both positive and negative. One very positive aspect is to allow easier reinvestment trough dividends.

Yeah, I'm sure there are people who have $200 to invest in btc stock but have to pick the lower priced options like the AM shares that were 1/100th and the like. There are a lot of people who hold less than one AM share.

Ok yes thats what I thought.  I would be for a split.

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July 21, 2013, 08:28:42 PM
 #1018

Great!

Also, for our next round of COG.F I am thinking we stick with the same contract, and just change the inital price per contract for 20 shares from 2.5 to 10 btc each. This effectively prices the contracts at BTC0.5 per share.

Our last round of COG.F sold at BTC2.5 per contract for 20 shares and is now trading at BTC12 each! I hope to see the same kind of turnaround for our COG.F holders this time around Smiley

The security will be called COG.F2 and is already pending admin approval then will be up for voting on BTC-TC, but will not become active until the motion passes, of course!
Hi Garr, I guess there is a typo in your motion, where is says "Each one of these contracts represents one share of Cognitive to be delivered", as your post here says here one contract for 20 shares.
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July 22, 2013, 07:39:55 AM
 #1019

Fixed all of that. I apologize for the errors!

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July 22, 2013, 07:00:09 PM
 #1020

Say we buy Cog.F2 (after approval), and a week later a 1:2, 1:5, or 1:10 stock split is decided, or even later down the road. Will only the 20 shares be delivered in time, or will the split be taken into consideration? This slightly swayed me away from a previous cog.f purchase when the price shot up and many shareholders spoke of splits.

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