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

[iCEBREAKER]

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.

I'm in for two.  COG.F2 needs better marketing, people need to know about the Cointerra deal and warehouse.

This is CryptX's Petamine done right, a competitor to ice.drill and potential Asicminer 2.0!   

[silverfuture]

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.

Dry those tears with a good opportunity to pick up some mid term valuable shares.

[stabs]

Garr, could you please confirm our order date for the BFL singles?  Why have they not shipped yet?

[investr]

Garr, could you please confirm our order date for the BFL singles?  Why have they not shipped yet?

July 14:

https://bitcointalk.org/index.php?topic=67547.400

[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?  

As of now it seems to be the only sane way to "invest" in CoinTerra.

This bit is really interesting:

http://www.anandtech.com/show/7246/the-rush-to-bitcoin-asics-ravi-iyengar-launches-cointerra

Q: By my calculations, a 2TH/s machine at $14k would earn back its share in Bitcoin in little over a week at current rates.  Why have you chosen to sell your ASICs rather than do something similar to ASICMiner and design the infrastructure to sell shares in your systems?

A: The concept the selling of shares is blurring a legal line, especially in the US.  We are not sure if that model is possible within our boundaries.  There is also the issue regarding dealing with Bitcoin and converting to cash, thus becoming a money service.  We do not want to be in any grey area, and we want to be clear with our business model.  The goal of CoinTerra is to be a hardware product company first, rather than a base for Bitcoin distribution.

Could Cognitive be the way for CoinTerra of selling shares in "their" mining operation?

Wow, that's an interesting take too - would explain a lot.  Although wouldn't Garret have negotiated shares of cognitive rather than BTC from F2 contracts then?  Or maybe the cost is 3000BTC plus some shares we'll have to have a motion to raise - and that explains how the numbers are so crazy - because we wouldnt' really be paying 3000BTC for 1PH, it'd be 3000BTC plus some number of shares...

I presume if F2 contracts don't sell well enough to buy anything they will be refunded.

[CoinHoarder]

There's no way that he got that cheap of a price from Cointerra, from my experience they are quite stingy and won't budge from their prices much even in bulk (known from personal experience and talks with Cointerra's CEO.) In fact, if he offered you this price I would be pretty pissed because he couldn't offer me $10,000 per 2 TH (which is a shit deal anyways for bulk.)

But um, yea. In review: Cointerra is stingy, Garret must of made a typo in his post.

[dvdrewritable]

There's no way that he got that cheap of a price from Cointerra, from my experience they are quite stingy and won't budge from their prices much even in bulk (known from personal experience and talks with Cointerra's CEO.) In fact, if he offered you this price I would be pretty pissed because he couldn't offer me $10,000 per 2 TH (which is a shit deal anyways for bulk.)

But um, yea. In review: Cointerra is stingy, Garret must of made a typo in his post.

yes, he hasn't got those prices. Seems like he wanted to raise BTC2,500 in COG.F3  including current funds which would allow purchase of 40TH (same hardware as he is using for 1PH- as he wrote) even without however much current funds entail, BTC2,500 is actually about $45,000 more expensive than buying 20 2TH fully assembled single rigs at retail with no form of bulk discount. Then that got rejected by shareholder vote so he went on to write 1/PH for BTC3,000  and raise 600 contracts on F2- extrapolating requested amount of BTC2500 for 40TH you'd arrive at BTC62,500 for 1PH.. 3000 is a bit off and of a strange typo to make multiple times

doesn't look good, Interested for his explanation as to how these numbers came about

[stslimited]

hmm, this had become a substantial part of my portfolio, ouch. although well diversified (well.. between mining companies) still looking forward to good news

[redbeans2012]

It amazes me that people will ask to raise thousands and thousands of dollars, then disappear.   

[Code_red]

So I thought divs were paid autocratically. Am I incorrect?

[investr]

2013-08-25 06:51   ฿ 16.50187462   10420   0.00158367   COMPLETE
2013-08-17 10:56   ฿ 20.30784444   10420   0.00194892   COMPLETE
2013-08-10 11:03   ฿ 9.54655383   10420   0.00091617   COMPLETE
2013-08-04 09:22   ฿ 18.93013063   10420   0.00181671   COMPLETE
2013-07-27 11:07   ฿ 15.23936521   10420   0.00146251   COMPLETE
2013-07-20 11:06   ฿ 9.44572407   10420   0.00090649   COMPLETE
2013-07-13 12:54   ฿ 1.84521691   9709   0.00019005   COMPLETE
2013-07-07 01:07   ฿ 1.78452542   8809   0.00020257   COMPLETE
2013-06-29 10:59   ฿ 2.18463116   8809   0.00024799   COMPLETE
2013-06-24 01:24   ฿ 2.02837503   8629   0.00023506   COMPLETE
2013-06-15 21:14   ฿ 2.02145980   8629   0.00023426   COMPLETE
2013-06-08 21:44   ฿ 2.05263161   8629   0.00023787   COMPLETE
2013-06-02 07:06   ฿ 5.18222033   8629   0.00060055   COMPLETE
2013-05-25 16:07   ฿ 2.51262376   8629   0.00029118   COMPLETE
2013-05-18 20:05   ฿ 3.02280045   8629   0.00035030   COMPLETE
2013-05-12 19:31   ฿ 2.59536396   8629   0.00030077   COMPLETE
2013-05-05 10:40   ฿ 5.02195723   8620   0.00058259   COMPLETE
2013-04-29 02:20   ฿ 4.97263827   8619   0.00057693   COMPLETE
2013-04-21 22:10   ฿ 5.04513812   8619   0.00058535   COMPLETE
2013-04-13 19:00   ฿ 5.97044805   8619   0.00069270   COMPLETE
2013-04-07 05:35   ฿ 4.02399688   8619   0.00046687   COMPLETE
2013-03-30 23:05   ฿ 4.49963182   8619   0.00052205   COMPLETE
2013-03-23 20:30   ฿ 5.27178474   8619   0.00061164   COMPLETE
2013-03-16 07:05   ฿ 5.68884013   8619   0.00066003   COMPLETE
2013-03-09 08:05   ฿ 4.54261576   8619   0.00052704   COMPLETE
2013-03-03 08:55   ฿ 4.20980053   8619   0.00048843   COMPLETE
2013-02-23 22:30   ฿ 5.67842489   8619   0.00065882   COMPLETE
2013-02-17 07:05   ฿ 11.48569879   8619   0.00133260   COMPLETE
2013-02-16 08:00   ฿ 11.48569879   --   --   CANCELED
2013-02-10 09:00   ฿ 10.78421568   8619   0.00125121   COMPLETE
2013-02-03 20:05   ฿ 11.77895531   8619   0.00136662   COMPLETE
2013-01-26 08:05   ฿ 10.74819150   8619   0.00124703   COMPLETE
2013-01-20 18:35   ฿ 9.76238540   8619   0.00113265   COMPLETE
2013-01-13 04:30   ฿ 11.00000077   8619   0.00127625   COMPLETE
2013-01-06 01:00   ฿ 10.54146172   8619   0.00122304   COMPLETE
2012-12-30 01:00   ฿ 10.89382396   9032   0.00120613   COMPLETE
2012-12-23 01:00   ฿ 12.39492013   8619   0.00143809   COMPLETE
2012-12-16 01:00   ฿ 191.29976990   8616   0.02220285   COMPLETE

[Code_red]

I've suffered from a local internet outage this week. Our miners are still hashing away because everything is redundant for them, but the script to send out divs runs on a machine separate from that network. I just got home and will be sending them manually within ten minutes. Sorry for the delay here!

As for the Singles, I've still got no word from BFL on the matter. Hopefully it will be soon...

[Vycid]

Where is the Cointerra operation going to be hosted (and how much is electricity there?)

[Garr255]

Apologies for the confusion in the previous post! I've been extremely busy these past few weeks and made that post when I was quite sleep deprived. The one petahash figure is the estimation for our total hashpower in a few months, as in Q1 or Q2 of next year. The number that CoinTerra has given me for my bulk order purchase is still covered by their NDA that I had to sign, and cannot be disclosed without their explicit permission, which I have asked for.

A large investor in another mining venture of mine does not want this new location disclosed publicly for security purposes, which I believe is a very good choice. I will talk with him and see if he would be willing to agree to share the location with those willing to sign an agreement not to disclose it.

The first batch of COG.F2 sold out in a few hours, so I expect this batch to sell fairly quickly after the numbers can be publicly finalized. I am going to be calling the CEO of CoinTerra tomorrow morning to figure this out.

--Garrett

[Garr255]

So I thought divs were paid autocratically. Am I incorrect?

Dividends are paid "semi-automatically" in that the Cognitive balance is automatically paid out as a dividend whenever there is a balance. So the fluctuation in times is a result of the variation of me sending mining revenues to the btc-tc wallet and how long it takes the said transaction to confirm.

Also, with regard to my tardiness responding to inquiries on this thread, I will be more and more active here in the coming days.

--Garrett

[redbeans2012]

So I thought divs were paid autocratically. Am I incorrect?

Dividends are paid "semi-automatically" in that the Cognitive balance is automatically paid out as a dividend whenever there is a balance. So the fluctuation in times is a result of the variation of me sending mining revenues to the btc-tc wallet and how long it takes the said transaction to confirm.

Also, with regard to my tardiness responding to inquiries on this thread, I will be more and more active here in the coming days.

--Garrett

Still nothing about BFL ignoring your order date? is there something that you never told us about? I'm confused? I invested expecting to double our hash rate. 

[Garr255]

Still nothing about BFL ignoring your order date? is there something that you never told us about? I'm confused? I invested expecting to double our hash rate. 

I will also call BFL in the morning regarding our order of 7 Singles. The order was placed on July 14th 2012 and we've still received nothing, which is absolutely absurd and unacceptable. I have a contact currently residing in KC who may be willing to talk to BFL in person for us.

[KCBitcoin]

btw, tmr is labor day

[Garr255]

btw, tmr is labor day

Yep, I have personal numbers for those who I will be talking to so the holiday won't be a problem.

[Vycid]

Apologies for the confusion in the previous post! I've been extremely busy these past few weeks and made that post when I was quite sleep deprived. The one petahash figure is the estimation for our total hashpower in a few months, as in Q1 or Q2 of next year. The number that CoinTerra has given me for my bulk order purchase is still covered by their NDA that I had to sign, and cannot be disclosed without their explicit permission, which I have asked for.

A large investor in another mining venture of mine does not want this new location disclosed publicly for security purposes, which I believe is a very good choice. I will talk with him and see if he would be willing to agree to share the location with those willing to sign an agreement not to disclose it.

The first batch of COG.F2 sold out in a few hours, so I expect this batch to sell fairly quickly after the numbers can be publicly finalized. I am going to be calling the CEO of CoinTerra tomorrow morning to figure this out.

--Garrett

I understand the security issue. I just want to know the jurisdiction and general area, so I know the legal circumstances and the cost per kilowatt-hour. Any additional information is unnecessary.

I'm sure you agree there is no reasonable security concern that would keep you from sharing the state or province?