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Author Topic: Starting a new FPGA mining farm/contract! Cognitive Resurrected on[Havelock]  (Read 274425 times)
killerstorm
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December 31, 2013, 07:15:44 AM
 #1841

I propose two motions:

1. Motion to delete or not allow shareholders the ability to reclaim their shares that they have not claimed by now for Havelock.

I propose a motion to confiscate shares owned by stabs.

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stabs
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December 31, 2013, 08:17:00 AM
 #1842

I propose two motions:

1. Motion to delete or not allow shareholders the ability to reclaim their shares that they have not claimed by now for Havelock.

I propose a motion to confiscate shares owned by stabs.

It's been what, 2 and a half months?  How long are you willing to wait...
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December 31, 2013, 08:49:46 AM
 #1843

Those shares are a small percentage compared with the amount we will have when F and F2 get factored in, and this is the point when share dilution is really going to matter isn't it?
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December 31, 2013, 09:17:29 AM
 #1844

I'm not trying to convince you that you should invest, but it does seem to me he answered the questions but then the same ones got asked 100 more times.

Personally I think it was, and to a point still is incompetence here, not scamming. But then again I have been wrong before.

At least in the future everything will be out in the open.

No, he has not answered any of the questions. He brushed everything off by saying "oh, we were solo mining", which makes NO sense at all, and he stopped responding to any further questions on the matter.

If he was solo mining then what was the bitcoin address used for the mining, so we could see some of the payouts?  This was asked about a month ago and we have seen nothing on this or any evidence whatsoever.

Honestly, it is hard for me to believe given that Garrett refuses to provide any evidence to back this up or even so much as respond to any discussion of it.  The bitcoin world is full of scams as we have all seen and I'm seeing no reason to put blind trust in someone that can't even bother to spend 5 minutes answering questions about this. Ask yourself...why would all discussion of this topic be ignored by Garrett? If he truly has nothing to hide then why does he not respond to any of this?

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December 31, 2013, 12:13:50 PM
 #1845


But he did right? He said he was solo mining?

I'm not saying you should believe it, but that was his story right?

I must have missed it. Link?

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silverfuture
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December 31, 2013, 05:32:33 PM
 #1846


But he did right? He said he was solo mining?

I'm not saying you should believe it, but that was his story right?

I must have missed it. Link?

Garr can you address these calculations?

Sure thing.

The calculations being used here can only estimate the output of a given mining rig + pool combination. It turns out that our pool has had a bad luck streak for a good while and we have since switched to mineb.tc which is proving to be a bit more reliable, with more consistent payouts. We should see output much closer to these calculations with the coming dividends.

Cheers,
Garrett

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btcboston
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January 01, 2014, 12:18:14 AM
 #1847

If it was just bad luck on mining then thats just a bad management call that hoppfully will not be repeated.

We all make mistakes.

Also if the luck was the other way no one would be bitching.

If it was just bad luck on mining he should be able to provide a payout address of some sort so we could validate. It would have taken him all of 5 minutes to do so.

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January 01, 2014, 12:28:21 AM
 #1848

If it was just bad luck on mining then thats just a bad management call that hoppfully will not be repeated.

We all make mistakes.

Also if the luck was the other way no one would be bitching.

If it was just bad luck on mining he should be able to provide a payout address of some sort so we could validate. It would have taken him all of 5 minutes to do so.

proof of mistake or I don't believe it. we need validation.
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January 01, 2014, 03:10:14 AM
 #1849

i think it's just been a bundle of problems cropping up including:

btct closing
pool having bad luck and thus switching pools

Well, again, Garr mentioned that he was mining solo... Which means that he can't provide any evidence that it was mining at all.

Most likely he just stopped giving a fuck about miners for a month or two.

I agree with Tafelpoot that it no longer makes sense to ask for explanations and demand compensation instead.

Garrett already demonstrated that he will go to great length to avoid accusations, so it's just a waste of time.

In any case, (no matter what actually happened) it was a mismanagement and we can demand compensation.

I support this 100% and would like to work towards achieving a balanced solution for all involved.

Either you own the bitcoins(private keys) or you don't. However with moneroj, nobody knows what you own.
Secure. Private. Untraceable.
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January 01, 2014, 04:26:35 AM
 #1850


But he did right? He said he was solo mining?

I'm not saying you should believe it, but that was his story right?

I must have missed it. Link?

Garr can you address these calculations?

Sure thing.

The calculations being used here can only estimate the output of a given mining rig + pool combination. It turns out that our pool has had a bad luck streak for a good while and we have since switched to mineb.tc which is proving to be a bit more reliable, with more consistent payouts. We should see output much closer to these calculations with the coming dividends.

Cheers,
Garrett

Err, I fail to see a mention of solo mining in that quote. Did you mean this one?

Correct. Usually Cognitive can solo mine consistently enough to make sizable payouts, but it was an unlucky few weeks and I have changed the pool strategy accordingly.



Same as other users I want to know what happened, that's all. Chirping about transparency and not providing it doesn't work for me.

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killerstorm
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January 01, 2014, 12:10:24 PM
 #1851

Same as other users I want to know what happened, that's all. Chirping about transparency and not providing it doesn't work for me.

It is impossible to confirm that he was solo mining and had such a bad luck that solved zero blocks: in this case NO payouts were produced, so there is NO evidence.

Can you people just stop beating the dead horse?

Please stop asking about "payout address": if there were no payouts, it is 100% irrelevant.

It is obvious that Garr mentioned solo mining only because no evidence can be produced. That is, even if he was honest, he could not produce any evidence.

So again, any further investigation makes no sense. If you believe that "payout address" could reveal something, you're delusional and do not understand how Bitcoin mining works.

Let's focus on one fact we know for sure: due to Garr's negligence, mining equipment was not working for us for about a month. (More accurate time frame was mentioned here.) What do we do in this situation?

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btcboston
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January 01, 2014, 01:09:54 PM
 #1852

It is impossible to confirm that he was solo mining and had such a bad luck that solved zero blocks: in this case NO payouts were produced, so there is NO evidence.

Can you people just stop beating the dead horse?

Please stop asking about "payout address": if there were no payouts, it is 100% irrelevant.

It is obvious that Garr mentioned solo mining only because no evidence can be produced. That is, even if he was honest, he could not produce any evidence.

So again, any further investigation makes no sense. If you believe that "payout address" could reveal something, you're delusional and do not understand how Bitcoin mining works.

Let's focus on one fact we know for sure: due to Garr's negligence, mining equipment was not working for us for about a month. (More accurate time frame was mentioned here.) What do we do in this situation?

We did receive a dividend, so I'm not sure where that came from then, if no blocks were solved when supposedly solo mining.

killerstorm
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January 01, 2014, 01:49:47 PM
 #1853

We did receive a dividend, so I'm not sure where that came from then, if no blocks were solved when supposedly solo mining.

We were supposed to get dividends for 5 weeks of mining, we got dividends for 1 week of mining.

The likely scenario was that equipment was off for a month, then Garr found that out, started mining (on a mining pool), and paid dividends for 1 week only.

Other possibilities:

1. he was solo mining for one month and solved no blocks
2. he mined something (either via solo or via pooled mining) but doesn't want to share it with shareholders
3. money which he mined was stolen, but Garr doesn't want to mention that to avoid panic and accusations of bad security practices

It doesn't matter what exactly have happened, as end result is the same: shareholders lost approximately 1 month worth of dividends.

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alincoln
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January 01, 2014, 04:32:36 PM
 #1854

FIMB has taken longer than I've hoped because of complications at Havelock due to its bond nature. It will be online and all backed up dividends will go out this month, hopefully on Monday.

Just to be clear, I have never scammed and will never scam anyone.

2013 is now over, FIMB hasn't been migrated to Havelock and dividends are still missing. No other announcements were made, and bondholders are once again left with nothing but broken promises.

Garret, what is the new time frame for migrating FIMB and paying late dividends? Any chance it will be for real this time?
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January 01, 2014, 06:28:11 PM
 #1855

Please stop asking about "payout address": if there were no payouts, it is 100% irrelevant.

I didn't. I am looking forward to a statement in clear simple terms from Garr255 (a bit more than "oh, by the way...").

If you read from https://bitcointalk.org/index.php?topic=67547.msg3790160#msg3790160 :

The calculations being used here can only estimate the output of a given mining rig + pool combination. It turns out that our pool has had a bad luck streak for a good while and we have since switched to mineb.tc which is proving to be a bit more reliable, with more consistent payouts. We should see output much closer to these calculations with the coming dividends.

and just a little bit later:

Correct. Usually Cognitive can solo mine consistently enough to make sizable payouts, but it was an unlucky few weeks and I have changed the pool strategy accordingly.

This reads to me: We were mining at a pool (first bold), had bad luck and switched to mineb.tc. Then two posts later solo mining is mentioned. So which one was it initially? Pool or solo?

I have read this whole thread since it started and I do not recall any other mention of solo mining, a good number of mention of different pools though.


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killerstorm
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January 01, 2014, 11:33:35 PM
 #1856

Please stop asking about "payout address": if there were no payouts, it is 100% irrelevant.

I didn't.

Well, I wasn't addressing this specifically to you, sorry...

This reads to me: We were mining at a pool (first bold), had bad luck and switched to mineb.tc. Then two posts later solo mining is mentioned. So which one was it initially? Pool or solo?

This reads to me that Garr first tried to write it off as pool's bad luck, then understood that he won't be able to produce any evidence, and later mentioned solo mining. It's just a bullshit excuse.

If we continue asking about it Garr will say that by "our pool" he meant some kind of an internal pool (for all hardware which Garr manages), which is basically equivalent to solo mining.

Most likely Garr doesn't have enough bitcoins to compensate for this loss... Have you noticed that he is delinquent on FIMB loan?

So basically he provides some vague and weird explanations, communicating as infrequently as possible, in hope to win time: when cointerra hardware arrives, he'll get some bitcoins from mining (his personal stake in cognitive, for example) and would be able pay off FIMB interest, and maybe will compensate the loss of dividends in September/November.

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investr
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January 01, 2014, 11:44:29 PM
 #1857

Instead of direct compensation, how about we just don't add to the growth fund for a month and instead divert all coin to dividends for that time?

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January 02, 2014, 02:09:16 AM
 #1858

Instead of direct compensation, how about we just don't add to the growth fund for a month and instead divert all coin to dividends for that time?

-1

growth fund is better than divs.

might as well fund some kind of middlecoin mining rig, or save for a scrypt ASIC and then mine on middlecoin

almost double current divs isnt very much...

1EPyRTYv6PgNWa8biBHVdh2i8q5RDHGF7d
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January 02, 2014, 02:11:39 AM
 #1859

Instead of direct compensation, how about we just don't add to the growth fund for a month and instead divert all coin to dividends for that time?

 Huh take from the company to pay the company back.. ?  why not sell all the miners to buy more miners whilst your at it?
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January 02, 2014, 02:13:07 AM
 #1860

it's not paying anything back, it's just goodwill

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