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

[theterabyte]

I haven't been following the avalon mess that closely - is everyone getting refunds, or just people who asked?  Are we in a group buy that has gone the refund route?  Are we sure cognitive's avalons are a no-go then?  Links to evidence if possible please?  Obviously, Garr comment would be best but he's a busy guy...

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[Mytche]

I don't understand why there is even talk of a refund of Cog.F shares.

If Cognitive holds a motion to request a refund on avalon chips then the funds would be used to purchase other mining equipment.  The shares would be dispersed when that mining equipment is hashing.  That is the only reasonable interpretation of the contract.
"COG.F is an asset representing contracts for delivery of COGNITIVE shares that will be issued upon arrival of mining hardware purchased with COG.F funds"  

Note there is no actual mention of avalon or any other hardware manufacturer.

[btcboston]

I don't understand why there is even talk of a refund of Cog.F shares.

If Cognitive holds a motion to request a refund on avalon chips

I don't understand why there is even talk of a motion since, at this point, Garrett has made it clear that he does whatever he wants without going to shareholders.

[Garr255]

I will be raising a number of motions regarding all of these events soon, along with details for everything.

Our 7 SC Singles will be arriving early next week!

[zefyr0s]

Good news! Thanks Garr!

[Tafelpoot]

If there isn't enough demand to purchase a single bitcoin miner after a week of the first sale of a COG.F contract, COG.F purchases will be refunded

... silence ...

Garr, please define the refund policy for CogF2 in the contract & use motions before you add extra shares. You got 3 replies in this thread on your question to issue extra shares, that is not representative at all.
I understand you are really busy right now, but you should have sorted it out before the release.
I'm looking forward to your update.

[servicelabs]

I will be raising a number of motions regarding all of these events soon, along with details for everything.

Our 7 SC Singles will be arriving early next week!

Good news!

[Garr255]

I have written three motions and will be posting them momentarily:

If this motions passes, we shall request a refund from the group-buy organizers we used to purchase out Avalon chips. Additionally, all COG.F contracts will be converted at a 1:1 rate to COG.F2 contracts. This should be beneficial to holders of each fund, because Cognitive now has better (more cost+power effective) alternatives to Avalon chips.

If this motion passes, an additional 600 COG.F2 contracts will be put up for sale for 5btc each. They will be equivalent in every way to the previously issued COG.F2 contracts. All COG.F funds will be used to significantly expand Cognitive, which acts as a catalyst for our exponential growth plan via the 50% growth fund! If this motion passes, we can expect to see over one petahash by Q2 2014.

If this motion passes, all future motions will have a minimum of a one (1) week duration, as opposed to the current two weeks. This will be beneficial because we will be allowed to make decisions more swiftly as a collective effort.

I've spoken to a few majority shareholders and we've all agreed that the additional COG.F contracts are in order for a formal vote before selling them on the exchange.

The motion for cutting the minimum motion duration in half will be a great help, because as we've learned, waiting two weeks for a decision isn't practical in the mining industry.

Our BFL SC Singles will be online Monday evening, so that is some fantastic new in itself

Cheers,
Garrett

[theterabyte]

I have written three motions and will be posting them momentarily:

If this motions passes, we shall request a refund from the group-buy organizers we used to purchase out Avalon chips. Additionally, all COG.F contracts will be converted at a 1:1 rate to COG.F2 contracts. This should be beneficial to holders of each fund, because Cognitive now has better (more cost+power effective) alternatives to Avalon chips.

If this motion passes, an additional 600 COG.F2 contracts will be put up for sale for 5btc each. They will be equivalent in every way to the previously issued COG.F2 contracts. All COG.F funds will be used to significantly expand Cognitive, which acts as a catalyst for our exponential growth plan via the 50% growth fund! If this motion passes, we can expect to see over one petahash by Q2 2014.

If this motion passes, all future motions will have a minimum of a one (1) week duration, as opposed to the current two weeks. This will be beneficial because we will be allowed to make decisions more swiftly as a collective effort.

I've spoken to a few majority shareholders and we've all agreed that the additional COG.F contracts are in order for a formal vote before selling them on the exchange.

The motion for cutting the minimum motion duration in half will be a great help, because as we've learned, waiting two weeks for a decision isn't practical in the mining industry.

Our BFL SC Singles will be online Monday evening, so that is some fantastic new in itself

Cheers,
Garrett

Thanks Garrett!  All three of these motions sound beneficial for everyone.  I am really excited to hear details about the Cointerra thing.  TGB reports that they expect to deliver 2PH to the network by December (which is projected to be on the order of 5 PH around then), it is exciting to think cognitive could be a significant fraction of that! http://thegenesisblock.com/cointerra-expects-to-deliver-2-phs-of-asics-in-december/

Hopefully with the arrival of our BFL hardware and doubling of already-20%+-dividends, the share price will more accurately reflect the value cognitive is bringing.

[MilkyLep]

Great to see the motions posted! All propositions seem like solid, beneficial responses to increase the potential for everyone involved with Cognitive. I've already voted.

Now all those big fish majority shareholders please don't play coy and wait the motions out, get logged in and vote! 

As a last sidebar, I feel anyone waiting on Avalon chips needs to take action quickly. Waiting further may prove detrimental to virtues of patience.

P.S. Maybe I've missed something in the wording of contracts or even forgotten, but must CogF funds be used explicitly for Avalon hardware? Would it be likely to get the refund from avalon and use it for hardware/chips before acquiring the 28nm chips later in the year?

[medicine]

I see what happened here now, the cog.f2 contracts have all been removed from BTC TC and now we're raising a motion before releasing them again.

I agree with Tafelpoot post #1270 above, more details need to be written into these contracts regarding refund policies in case ordered equipment again fails to be delivered by a certain date.

It's a good motion, but needs to be more well defined.

Peace

[kakobrekla]

Thanks Garrett!  All three of these motions sound beneficial for everyone.  I am really excited to hear details about the Cointerra thing.  TGB reports that they expect to deliver 2PH to the network by December (which is projected to be on the order of 5 PH around then), it is exciting to think cognitive could be a significant fraction of that! http://thegenesisblock.com/cointerra-expects-to-deliver-2-phs-of-asics-in-december/

Hopefully with the arrival of our BFL hardware and doubling of already-20%+-dividends, the share price will more accurately reflect the value cognitive is bringing.

sound like strong shill, in fact all your posts, not first time issuer has played dirty games..so would not be surprised
where is clear description of amount you try to raise and hashpower obtained for said amount
so far issue been sidestepped

Eh? Garr is a proven scammer.

[investr]

inappropriate

[redbeans2012]

Thanks Garrett!  All three of these motions sound beneficial for everyone.  I am really excited to hear details about the Cointerra thing.  TGB reports that they expect to deliver 2PH to the network by December (which is projected to be on the order of 5 PH around then), it is exciting to think cognitive could be a significant fraction of that! http://thegenesisblock.com/cointerra-expects-to-deliver-2-phs-of-asics-in-december/

Hopefully with the arrival of our BFL hardware and doubling of already-20%+-dividends, the share price will more accurately reflect the value cognitive is bringing.

sound like strong shill, in fact all your posts, not first time issuer has played dirty games..so would not be surprised
where is clear description of amount you try to raise and hashpower obtained for said amount
so far issue been sidestepped

Yeah kind of obvious there.

[redbeans2012]

Thanks Garrett!  All three of these motions sound beneficial for everyone.  I am really excited to hear details about the Cointerra thing.  TGB reports that they expect to deliver 2PH to the network by December (which is projected to be on the order of 5 PH around then), it is exciting to think cognitive could be a significant fraction of that! http://thegenesisblock.com/cointerra-expects-to-deliver-2-phs-of-asics-in-december/

Hopefully with the arrival of our BFL hardware and doubling of already-20%+-dividends, the share price will more accurately reflect the value cognitive is bringing.

sound like strong shill, in fact all your posts, not first time issuer has played dirty games..so would not be surprised
where is clear description of amount you try to raise and hashpower obtained for said amount
so far issue been sidestepped

Yeah kind of obvious there.

I presume the problem is what garr is and isn't allowed to tell us due to NDA stuff.  If the deal we are getting is really that good, they are going to want to keep it private as long as possible so they don't have to give the same deal to everyone

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.

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.

If that is with no further funding (but using our 50% growth reinvestment) that both explains the math *and* makes cog even more attractive

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?

 

Lots of facepalm here.   

[Code_red]

could just as easily be someone trying to look like a sock puppet to drive price down.

[stabs]

Garr, when the singles arrive please make an announcement on BTCT.

[theterabyte]

Thanks Garrett!  All three of these motions sound beneficial for everyone.  I am really excited to hear details about the Cointerra thing.  TGB reports that they expect to deliver 2PH to the network by December (which is projected to be on the order of 5 PH around then), it is exciting to think cognitive could be a significant fraction of that! http://thegenesisblock.com/cointerra-expects-to-deliver-2-phs-of-asics-in-december/

Hopefully with the arrival of our BFL hardware and doubling of already-20%+-dividends, the share price will more accurately reflect the value cognitive is bringing.

sound like strong shill, in fact all your posts, not first time issuer has played dirty games..so would not be surprised
where is clear description of amount you try to raise and hashpower obtained for said amount
so far issue been sidestepped

Yeah kind of obvious there.

I presume the problem is what garr is and isn't allowed to tell us due to NDA stuff.  If the deal we are getting is really that good, they are going to want to keep it private as long as possible so they don't have to give the same deal to everyone

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.

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.

If that is with no further funding (but using our 50% growth reinvestment) that both explains the math *and* makes cog even more attractive

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?

 

Lots of facepalm here.   

Hey, fuck you buddy.  I'm a 'real person' and an investor in cog.  I'm excited about the future of mining and trying to crunch some numbers and be positive but realistic.  If you want to talk to me, find me on freenode irc, username "cmyers", and you can all tell me to my "face" WHY everything I said above is so "facepalm" worthy.  assholes.  *sigh*

[zefyr0s]

Don't take it personal, friend. People will grasp at straws when they lack a real argument.

[Tafelpoot]

Garr, can you describe the costs tied to requesting a refund on the Avalons? I believe some people here don't know that assembly costs will not be refunded, as the investments are already made. It would help if we could compare both options, to see where we can minimize the losses.
The more people ask for a refund, the better the expectation on mining gets..