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Author Topic: Starting a new FPGA mining farm/contract! Cognitive Resurrected on[Havelock]  (Read 274486 times)
snowdropfore
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October 13, 2013, 10:53:16 AM
 #1381

still no update???
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October 13, 2013, 01:18:56 PM
 #1382

still no update???

Did the website get updated?

The website has not been updated which bothers me simply because I would to see more active management of the security.  Staying on top of simple things like that shows commitment to Cognitive and the share holders.

Moving the security to another exchange isn't as much of a worry because there will be new exchange options coming available in the near future.

What are our options to get this thing moving ahead quicker?


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October 13, 2013, 03:16:19 PM
 #1383

You buyin?

Successful transactions: http://pastebin.com/GM27Ju59
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October 13, 2013, 04:04:50 PM
 #1384

Garret when do you consider to sell the BFL singles?
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October 13, 2013, 05:02:41 PM
 #1385

still no update???

Did the website get updated?

The website has not been updated which bothers me simply because I would to see more active management of the security.  Staying on top of simple things like that shows commitment to Cognitive and the share holders.

Moving the security to another exchange isn't as much of a worry because there will be new exchange options coming available in the near future.

What are our options to get this thing moving ahead quicker?



Visit garr in montana? Anyone up for a road trip?

Now that the GLBSE is out you are spending time with scammer kids? I guess this is how business gets done!

Garr255
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October 14, 2013, 07:29:05 AM
 #1386

Hey all,

I'm actively working on a plan to move all assets to a platform we can all trade freely on. Rest assured I'm still alive and at work!

Details will come toward the end of October.

Cheers,
Garrett

“First they ignore you, then they laugh at you, then they fight you, then you win.”  -- Mahatma Gandhi

Average time between signing on to bitcointalk: Two weeks. Please don't expect responses any faster than that!
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October 14, 2013, 07:30:06 AM
 #1387

Also, the website is updated. Try holding ctrl + f5 if your browser caches it.

“First they ignore you, then they laugh at you, then they fight you, then you win.”  -- Mahatma Gandhi

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superresistant
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October 14, 2013, 07:55:16 AM
 #1388

Hey all,
I'm actively working on a plan to move all assets to a platform we can all trade freely on. Rest assured I'm still alive and at work!
Details will come toward the end of October.
Cheers,
Garrett

Thx for the update & good luck.

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October 14, 2013, 01:15:19 PM
 #1389

Hey all,

I'm actively working on a plan to move all assets to a platform we can all trade freely on. Rest assured I'm still alive and at work!

Details will come toward the end of October.

Cheers,
Garrett
Good news!

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October 15, 2013, 10:02:08 PM
 #1390

Hello everyone,

As someone holding FIMB shares on BTCT.CO I thought of coming here and ask why no dividends have been paid in October. Has Garrett made any announcement regarding this issue?



So there is no answer to this? I see it a rather serious situation as technically Garrett is on default and investors don't seem to care. Even if you don't have FIMB shares but are holding Cognitive shares this should be of concern to you.

Garrett, can you give some explanation please?

Hey,

Now that trading is halted, dividends will be paid manually to those who have submitted their BTC address to BTC-TC. If you have not done this, I have sent you an email stating that dividends will go out only to those who have submitted an address started November 1, and October divs are being delayed until the 15th to allow fair time to submit BTC addresses, so as to ensure no btc are stuck in BTC-TC after the closure.

I am currently working on a plan to migrate seamlessly to another trading platform. There should be very little grief involved in the process.

Cheers,
Garrett

Hi, are dividends coming today? Will you make an announcement regarding this?
Garr255
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October 16, 2013, 12:40:47 AM
 #1391

Hello everyone,

As someone holding FIMB shares on BTCT.CO I thought of coming here and ask why no dividends have been paid in October. Has Garrett made any announcement regarding this issue?



So there is no answer to this? I see it a rather serious situation as technically Garrett is on default and investors don't seem to care. Even if you don't have FIMB shares but are holding Cognitive shares this should be of concern to you.

Garrett, can you give some explanation please?

Hey,

Now that trading is halted, dividends will be paid manually to those who have submitted their BTC address to BTC-TC. If you have not done this, I have sent you an email stating that dividends will go out only to those who have submitted an address started November 1, and October divs are being delayed until the 15th to allow fair time to submit BTC addresses, so as to ensure no btc are stuck in BTC-TC after the closure.

I am currently working on a plan to migrate seamlessly to another trading platform. There should be very little grief involved in the process.

Cheers,
Garrett

Hi, are dividends coming today? Will you make an announcement regarding this?


Yes FIMB will be paid out today.

“First they ignore you, then they laugh at you, then they fight you, then you win.”  -- Mahatma Gandhi

Average time between signing on to bitcointalk: Two weeks. Please don't expect responses any faster than that!
snowdropfore
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October 16, 2013, 01:08:23 AM
 #1392

i own cof-f2 shares bougt at 5B per shares,but i have no dividends. garr255, what will you deal with us??
Garr255
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October 16, 2013, 08:14:48 AM
 #1393

i own cof-f2 shares bougt at 5B per shares,but i have no dividends. garr255, what will you deal with us??

you will have to wait until what you bought is converted into cog shares. that will hopefully be around jan 2014

If all goes to plan they will indeed convert in January.

Best,
Garrett

“First they ignore you, then they laugh at you, then they fight you, then you win.”  -- Mahatma Gandhi

Average time between signing on to bitcointalk: Two weeks. Please don't expect responses any faster than that!
theterabyte
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October 16, 2013, 04:40:22 PM
 #1394

Let's rerun some maths with current numbers:

According to Garr's message here:
https://bitcointalk.org/index.php?topic=67547.msg3226890#msg3226890

We are expecting 14x2TH/s boxes, bringing our total to nearly 29TH/s.  Both Garr and CoinTerra have confirmed that they are on schedule for January recently.

The last difficulty increase was 41%, which is higher than anticipated.  It is unlikely that the diff will continue to increase 41% every 2 weeks between now and January, but I'll use it as an example.

Echoing my previous comments, time to find a block on average T = diff * (2**32) / rate.  Expected blocks per unit time B = 1/T, expected BTC per unit time P = B * 25BTC/block

P = 25.0 * 1.0 / ( diff * (2**32) / rate ) => BTC/second (multiply by 60*60*24*7 for weekly profits)

It is the middle of october, so say there is 2 weeks in october, 4 in november, 4 in december, and 4 in january.  This means 7 difficulty adjustments.  Call it 8 to fudge for growth reducing the cycle time.

Difficulty at the end of January (projected) => 268mil * ( 1.41**8 ) => 4187mil

P = 24.38 BTC/week

At 26420 shares, that is 0.000923 BTC per week, or an annualized return of 0.048 BTC per share, or 20% @ 0.25BTC per share.  (of course, the annualized return is instantaneously measured as of january, the actual return over the year will depend greatly on the difficulty leveling off, cognitive continuing to grow exponentially, or both).

Long story short, the maths look ok, even with this "back of the envelope" calculation, but we certainly hope the difficulty will not increase by 41% every 2 weeks between now and January.  If the difficulty increases by less than 41%, we receive our mining hardware before the very last day of January, or other beneficial opportunities arise, we stand to make even more profit.  The equations are all up there, so feel free to plug in your own estimates.

Let's also remember that mining in general is a poor investment at this time, but if you are going to invest in mining, the way to do it is via a company like cognitive where you benefit from the economy of scale (and Garr's bulk pricing deals).  Buying a single share of cognitive today is, as long as cointerra comes through, like buying 1.08GH/s to be delivered in January, meaning at 0.25BTC/share you are paying 0.23BTC/GH in January.  Evaluated on the BTC/GH alone this doesn't look like a particularly good deal, except not a lot of people can drop 6k on buying hardware direct from cointerra, but pretty much anyone can afford a few shares of COG (also, it beats the USB block eruptors event at their most recent pricecut, and has way better power/scaling perf).  If you look at the future projections of 1 petahash by Q2 2014 it is the long-term value of cognitive which justifies this price IMO (we all hope! =D ).

EDIT: it is worth noting that my previous maths used assumptions about difficulty growth being around 65% per month.  This one assumes 41% growth per adjustment period, which is roughly the network DOUBLING every month.  Whether this estimate or the other is more accurate remains to be determined (and is probably up to KNC and cointerra's delivery schedule).

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dunchy
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October 16, 2013, 05:01:34 PM
 #1395

Thanks for the effort theterabyte. Hope that at the end the figures work out close to your calculation.
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October 17, 2013, 11:05:09 AM
 #1396

Any news about witch exchange will be used?
Garr255
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October 18, 2013, 06:00:56 AM
 #1397

Any news about witch exchange will be used?

That will be coming in the update at the end of the month.

Cheers,
Garrett

“First they ignore you, then they laugh at you, then they fight you, then you win.”  -- Mahatma Gandhi

Average time between signing on to bitcointalk: Two weeks. Please don't expect responses any faster than that!
pascal257
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October 18, 2013, 11:31:53 AM
 #1398

I see there were dividend payments on BTCT. How about the PT on litecoinglobal???
JimiQ84
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October 18, 2013, 11:53:09 AM
 #1399

I see last dividend at 7th of october, then nothing  Huh
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October 18, 2013, 12:13:51 PM
 #1400

I see last dividend at 7th of october, then nothing  Huh

Same here.

I am also curious to know where the dividends are going right now? Still through btct or should we be getting them directly to our bitcoin address?

I think snare rolls should be used as a currency.
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