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

[Garr255]

Interesting proposal. Before starting a motion, let's see what shareholders have to say right here. Speak up!
I think it would be fair to do this, but at a significantly larger price per share, granting less to you thus maintaining the value of all other shares.

How much electricity are the 6 boards drawing now?

Around 120W, right where it should be

Edit: I'm doing some reconfiguring of the miner setup right now. Trying to up the clock speed a bit therefore upping the hashrate.

Alright! All boards running at 200mhz. Getting a steady 2,399mh with the six boards.

[HorseRider]

Kluge, why not pitch your idea to FPGA.contract? I think it's because that you know that the share price of Cognitive is undervalued.

I will vote nay if the share price is under 40x of monthly net income, while the price of FPGA.contract is more than 50x of monthly net income now. If the Cognitive is at the same level of valuation as FPGA.contract, it should be traded at 1.5BTC per share in a very short time.

I think Kluge really should reconsider his proposal.

Garr, it's you who paying the utility bills. You should do the math carefully. If you issue new share at such a undervalued price, you're very dangerous put yourself at loss if the difficult rising faster than the exchange rate in the near future, which is very much possible.

We are soon will mining at a steady high hash rate and paying out weekly regular dividends. we have a transparent CEO who share his ID information publicly, both of which will give the public investor confidence. all of this will push up the share price. We Cognitive can issue new share at a much higher price than it is right now(now lots of people don't see regular dividends which they need to build the confidence.)

[Garr255]

I've been talking with various shareholders. Almost unanimously, we've decided you will need to offer an extremely good price. What do you think about a lower price HorseRider?

Edit: Also going back to the overclocker firmware. 200mhz was giving us about 17% invalids. Boards stayed below 35C too.

[HorseRider]

I've been talking with various shareholders. Almost unanimously, we've decided you will need to offer an extremely good price. What do you think about a lower price HorseRider?

Edit: Also going back to the overclocker firmware. 200mhz was giving us about 17% invalids. Boards stayed below 35C too.

Traditionally, issuing new shares at a discount price compared to the market is acceptable, if and only if the market share price is not under valued.

I'm very happy that the CEO of the firm, you Garr, is so trusted by a Hero member of this forum. He is willing to send you the board without any pre-payment;) Thanks for Kluge!

Garr, if you do the math in the best interest of yourself, I think I will support your negotiation result. Because the interest of yours and the company's is very much the same thing.

[TheSeven]

Edit: Also going back to the overclocker firmware. 200mhz was giving us about 17% invalids. Boards stayed below 35C too.

Rev3 @200MHz with 17% invalids average? That can't be quite right. How was the distribution of the invalids across the FPGAs, and how many were that absolute?

[Garr255]

7: Ah, those were rejects by the pool, not invalids. These boards have never found an invalid. Still though, what might be causing this?

Kluge: How about a better offer? I think 325 shares would be a good offer on both sides.

[TheSeven]

7: Ah, those were rejects by the pool, not invalids. These boards have never found an invalid. Still though, what might be causing this?

If you have edited a work source less than 2 minutes before that, it might have been some bug that caused old jobs to not be purged correctly.
If not, hm, it must have been a network connectivity or pool-side issue. Did they come in a burst, or scattered over time? What kind of error messages did the log window report?

[Kluge]

Kluge: How about a better offer? I think 325 shares would be a good offer on both sides.

No. The difference between issuing shares vs. selling aftermarket is that freshly-issued shares go toward growing the company. If the market thought Cognitive were so undervalued, it would fulfill the ask orders. You're asking me to pay significantly over aftermarket price, in which case, I have no incentive to request IPO shares.

@ 350 shares, I'm a smidge over breaking even on purchasing the boards @ current market rates.

[Garr255]

What if we wait until I receive the boards, then agree to issue you $800 worth of shares at the going rate. This is because I believe the company is undervalued right now, mostly because, as HorseRider said, dividends from mining have not been paid out yet. I think the price per share will rise in the next few weeks, as dividends are paid, and all the hardware is received and set up.

I'm going to pay the first dividend this Saturday if the Eligius pool pays out by then. Due to their payout scheme, the first dividend could be a little less than normally mining with six boards for 1.5 days. In case you missed it above, this will all be publicly viewable on the worker page, here: http://eligius.st/~artefact2/7/15XmWTsyLp6WVMCn52sSTm1tB9NXyP9fRM

[Kluge]

What if we wait until I receive the boards, then agree to issue you $800 worth of shares at the going rate. This is because I believe the company is undervalued right now, mostly because, as HorseRider said, dividends from mining have not been paid out yet. I think the price per share will rise in the next few weeks, as dividends are paid, and all the hardware is received and set up.

That's even worse for me than before if you're right about the stock being undervalued. No worries -- I might try bringing this up again, later. Anyhoo, I'ma snap up some aftermarket shares and'm excited to see how this progresses. Cheers!

[Garr255]

Alright, sounds good. Speaking for the company: We're happy to expand, if the price is right!

[Garr255]

Speaking of expansion, six more boards arrived today! I'll try to get them all hashing away tonight.

http://dl.dropbox.com/u/9542654/btc/IMG_00000063.jpg

[HorseRider]

All the more than 100 shares(2%) asking orders around 0.65 were wiped out.

[Kluge]

All the more than 100 shares(2%) asking orders around 0.65 were wiped out.

Waiting for the correction before I go in again.

[Garr255]

All six new boards set up. Going to reboot everything and try out the 200mhz firmware.

Edit: 12 boards get 4400mh, but tons of stales at the higher clock speed. Going back to the overclocker firmware now.

Getting 3300mh now, with fewer stales. Six more boards will be in the mail shortly!

[HorseRider]

All the more than 100 shares(2%) asking orders around 0.65 were wiped out.

Waiting for the correction before I go in again.

As I guess, even if there is a correction, the volume won't be significant enough for you(a Hero member, lots of bitcoin, haha).

[Garr255]

This morning I'm weeding out the boards that can't handle the 200mhz firmware temperature wise, then giving them better cooling. One or two of them was getting above 40C, but the reason for all the stales at that firmware is still being looked for.

[TheSeven]

This morning I'm weeding out the boards that can't handle the 200mhz firmware temperature wise, then giving them better cooling. One or two of them was getting above 40C, but the reason for all the stales at that firmware is still being looked for.

Looks like an overly high CPU load (on a not quite powerful CPU) is triggering some weird behavior in MPBM that makes it even worse.
I've nailed down why these stales are happening, just have to figure out a way how to fix that without breaking anything else...

[Garr255]

Thanks, TheSeven.

The first dividend will not be today, it will be next Saturday, because Eligius hasn't paid out yet.
Eligius just payed out, so the dividend will be today (120 confirmations takes a long time, so the dividend will after all be next Saturday, 4.14.2012 as planned) after all 120 confirmations required for mined coins, and every Saturday in the future of Cognitive.
In case you missed it on a previous page, you can see the pool stats here: http://eligius.st/~artefact2/7/15XmWTsyLp6WVMCn52sSTm1tB9NXyP9fRM?autorefresh=1

I've been experimenting with cooling strategies today, so that's why the hashrate has been down. The risers should arrive early next week which will hopefully allow for better cooling, and the last batch of x6500s hasn't shipped out yet, but should arrive the next week.

[Garr255]

MPBM crashed about an hour ago. Fixed and hashing again.