Starting a new FPGA mining farm/contract! Cognitive Resurrected on[Havelock]

[redbeans2012]

Nothing from BFL?  Weren't the Cognative orders on July 14?

Actually, they were in July of last year, 2012! Still nothing from BFL unfortunately.

I will keep urging them to process our order of course but there is much more opportunity in the new chips arriving in a few months anyway

Do you remember the date they were ordered? it seems they are on July 22 orders.  I agree the plan for the end of the year is great, but nothing like doubling your hash power right now. :p

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[medicine]

+1

Watching closely to see how cogf2 contracts sell.  The last batch went quite quickly.

[arctos]

How is cog.f being handled considering the recent uproar with avalon?

[lightlord]

https://btct.co/security/COG.F2
600 for 3,000 BTC.
Which will yield 1,000 TH.

Am I reading this correctly?

Lets say a person invests 30 BTC hypothetically.
Does that mean he will be entitled to 10 TH of mining power?
Or am I reading this wrongly?

And at what approximate date?

Geesh, I should cancel my 5 orders of Hashfast.
And throw 280 BTC into this. And that yeild me
about 90 TH from 2TH I would of gotten from Hashfast?

I must be missing something.

List to what he just said because he is right on.  When investors know where their money is and can see the value of the share today it builds great confidence.  I'm also interested in investing in your IPO.

Thanks. I am definitely going to do what he's suggested!

[dvdrewritable]

Lets say a person invests 30 BTC hypothetically.
Does that mean he will be entitled to 10 TH of mining power?
Or am I reading this wrongly?

No because there are existing shareholders, and you don't get mining power (it's not a PMB), you get shares. Also part of the mining revenue is kept for future reinvestment. I think it's better that way, but then, do your own calculations.

1PH for 3000BTC? It looks like that's 0.5% cost of buying 1PH retail in batches of 5 - with a 6 million USD discount?. Am I calculating something completely wrong here?

It's chips, not complete machines, as I understand. Though the chips are likely most of the cost.

even talking chips only in amounts of 50pcs - 25T/H (highest publicly listed) comes to BTC1175, you'd need 40 batches for a P/H or BTC47000 so that's a discount of BTC44,000 or $5,232,000.

[theterabyte]

Today, COG has 10420 shares and ~500GH.  Once the BFL equip arrives, that'll be about 1TH.

There are (100*20=) 2000 future shares in COG.F and (700*20=) 14000 future shares in COG.F2

After BFL equipment, today's COG share will earn 50% dividends on (1000GH/s / 10420) => 96MH/s, or about (50% of 0.0049 BTC=) 0.0025 BTC per week, or an annualized return of of 0.13BTC (41% of value as of this writing).

if COG.F *and* COG.F2 both were realized, and COG.F added zero hashing power (not including it because I don't know how much hasing power we have ordered and things look uncertain we will ever get it), and COG.F2 added 1000 TH/s, we would have:

10420 + 2000 + 14000 = 26420 total shares
1001 TH/s total hash power

Each share would get 50% of the dividends from (26420 / 1001 =) 26.4TH/s

If this happens in december, *and* difficulty continues to raise 30% every 2 weeks, difficulty would be (65mil * (1.3**8 ) = ) 530 mil by end of december.  At this diff, each share earns (26.4TH @530mil => 25BTC/day =>) 87BTC/week.

It seems unlikely cognitive can dump 1PH/s on the network without the network growing by an even larger amount, so let's suppose the diff is 10X higher than current exponential projections.

26.4TH/s @ 5.3bil => 2.51 BTC/day => 8.785 BTC/week.  Still an insane div.

Even if the network is 100 times its current size in just 4 months, if we had 1000TH/s each share would earn 3x its current value in dividends each week.

So there's some numbers I made up for you.  Anyone see any mistakes?
EDIT: sunglasses in my equations

[adameb]

So there's some numbers I made up for you.  Anyone see any mistakes?

Probably only in the part where we buy 1P for 3000btc, but I can't wait for that explanation.

[theterabyte]

if COG.F *and* COG.F2 both were realized, and COG.F added zero hashing power (not including it because I don't know how much hasing power we have ordered and things look uncertain we will ever get it)

Why would COG.F be realized and add zero hashing power? Wouldn't it be a refund?

Since it has traded for quite a bit over the original 2.5 btc price, it could be refunded at 2.5, converted to shares anyways (better to dillute share holders by ~1% than screw over a bunch of new investors maybe?) or some other compromise might be reached.  My point was just to do back-of-the-envelope calculations and the worst-case for shareholders is they get 0 hashing power and still get diluted, and even despite that the numbers are still very good.

I agree, the main question here is how 3000BTC equals 1PH.  If Garr has managed to get us a deal like that, we're gonna have to start making Garr for President T-shirts, AM I RITE?

[redbeans2012]

For the record I have a facebook friend that ordered singles upgrades on the 21'st of July last year and got the tracking number today. 

[adameb]

For the record I have a facebook friend that ordered singles upgrades on the 21'st of July last year and got the tracking number today. 

After Garr's incident with Josh from BFL, i wouldn't be surprised if our date got dramatically adjusted.

[redbeans2012]

For the record I have a facebook friend that ordered singles upgrades on the 21'st of July last year and got the tracking number today.  

After Garr's incident with Josh from BFL, i wouldn't be surprised if our date got dramatically adjusted.

So they had an incident and as punishment, Josh pushed his place in line down? What?  

Here is the day that the order was placed.

https://bitcointalk.org/index.php?topic=67547.msg1031030#msg1031030

Did i miss some news?

[Carnth]

So they had an incident and as punishment, Josh pushed his place in line down? What? 

Right now this is speculation, rumor, hearsay, etc. etc. etc. Please don't make it worse.

But, the fact that Cognitive hasn't received any devices raises my eyebrows (and lowers my dividends).

[btcboston]

Why are so many more shares being released without being approved by shareholders?

This should have been subject to shareholder vote.

[dvdrewritable]

I understood that you were early investor of cointerra and as such should have access to favourable bulk pricing.

can you comment on this:

https://bitcointalk.org/index.php?topic=67547.msg3040506#msg3040506

Excluding 20% additions Cognitive mining is claiming to be purchasing same hashrate as your IPO @ BTC64,500 ($7,656,000) less? - BTC52,833 if you count 16.6k shares brought up

As angel investors in CoinTerra we were not able to negotiate a deal of 1PH for BTC3000. I think there is something wrong regarding the numbers Cognitive mining is stating.

waiting for issuer to address this

[btcash]

Why is there no motion for COG.F3? I am little suspicious. First your behaviour in the forums, then COG.F3 and now you are asking for 3000BTC. I hope this is not becoming another Bakewell.

[Code_red]

He did talk about there not being a vote of cog.f 3 because of the details of the agreement and the nature of the fast pace needed in the asic game if I remember correctly

COG.F(x) are big hardware investment.
These are vital for the COGNITIVE share to increase in value.
It may decrease the value of shares in short-term but it will increase them in the medium and long-term.

This is now a turning point : new hardware is coming with unbelievable hashing power. If COGNITIVE doesn't invest big right now, he is not likely to survive the next 6 months.

Thanks for further explaining this. Would anyone be opposed to doing a larger COG.F3? Possibly 500 contracts? This would raise 2500 coins, turning Cognitive into a big player. I believe large-scale expansion via fundraising is critical to our long-term success right now.

There is always more demand than supply for COG.F contracts, so I believe offering 500 instead of 100 would mitigate that problem (mind you it is an excellent problem to have ).

Cheers,
Garrett

[theterabyte]

I can't believe the price has gone *down* in the face of this news.  I agree things are a little risky until garret confirms the now-crazy-sounding numbers he has released, but once he does, aren't people just going to buy up?  Seems like shares are deliciously discounted at the moment...

What else could explain the price drop?  Do people not trust cointerra or something?

[KCBitcoin]

I can't believe the price has gone *down* in the face of this news.  I agree things are a little risky until garret confirms the now-crazy-sounding numbers he has released, but once he does, aren't people just going to buy up?  Seems like shares are deliciously discounted at the moment...

What else could explain the price drop?  Do people not trust cointerra or something?

i guess mostly bcz the delayed BFL singles.

[theterabyte]

I can't believe the price has gone *down* in the face of this news.  I agree things are a little risky until garret confirms the now-crazy-sounding numbers he has released, but once he does, aren't people just going to buy up?  Seems like shares are deliciously discounted at the moment...

What else could explain the price drop?  Do people not trust cointerra or something?

i guess mostly bcz the delayed BFL singles.

Oh, I guess that makes sense, since BFL singles would basically double our current hashrate, but man, that's SO short-term.  500GH/s is gonna be nothing in the face of 1PH, and cognitive is one of the few places where people are actually looking 6mo+ forward saying "how are we going to stay ahead of teh curve".  That's a long-term investment IMO.  Brings a tear to my eyes.

[KCBitcoin]

I can't believe the price has gone *down* in the face of this news.  I agree things are a little risky until garret confirms the now-crazy-sounding numbers he has released, but once he does, aren't people just going to buy up?  Seems like shares are deliciously discounted at the moment...

What else could explain the price drop?  Do people not trust cointerra or something?

i guess mostly bcz the delayed BFL singles.

Oh, I guess that makes sense, since BFL singles would basically double our current hashrate, but man, that's SO short-term.  500GH/s is gonna be nothing in the face of 1PH, and cognitive is one of the few places where people are actually looking 6mo+ forward saying "how are we going to stay ahead of teh curve".  That's a long-term investment IMO.  Brings a tear to my eyes.

yea true. but the 1PH won't happen if none of the 600 COG.F2 are sold.