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Author Topic: Starting a new FPGA mining farm/contract! Cognitive Resurrected on[Havelock]  (Read 274484 times)
Atruk
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January 17, 2014, 03:35:14 AM
 #1941

Let us just look forward I suppose, we have bigger fish to fry Smiley

Adequate.

Tilikum?

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January 17, 2014, 05:07:36 AM
 #1942

12 Sep 2014   574,773,647,115   0.02515523   0.27670751   384.19828432
23 Sep 2014   747,205,741,249   0.01935018   0.21285193   384.41113625
04 Oct 2014   971,367,463,624   0.01488475   0.16373226   384.57486850

CoinTerra TerraMiner IV became unprofitable at +300,000,000,000 dificult (with actual BTC price), and other old ASIC too.
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January 17, 2014, 02:41:34 PM
 #1943

Thanks for all your calculations and estimates theterabyte.

Regarding the investment we already invested in GPU, that is great.
Now, could we consider cloud mining of CPU coin ?

It is extremely fast to setup : a matter of minutes and low risk as you pay per hour of use. No delaying, no scam.
You only mine when it is profitable. What do you guys think ?



 

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January 17, 2014, 05:04:01 PM
 #1944



The current share totals for all assets are:

Cognitive: 10420 shares, 9577 of which have been claimed.
COG.F:     100 Contracts, 96 have been claimed
COG.F2:   100 Contracts, 95 have been claimed



Very good. Thanks.

How are we going to deal with the shares that have not been claimed?

After Cog.F and Cog F2 convert, there will be a total of 1,023 unclaimed shares.
I move that we vote to determine whether we want the unclaimed shares to be used as a means of paying for additional staff.

I vote yes

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January 17, 2014, 05:38:54 PM
 #1945



The current share totals for all assets are:

Cognitive: 10420 shares, 9577 of which have been claimed.
COG.F:     100 Contracts, 96 have been claimed
COG.F2:   100 Contracts, 95 have been claimed



Very good. Thanks.

How are we going to deal with the shares that have not been claimed?

After Cog.F and Cog F2 convert, there will be a total of 1,023 unclaimed shares.
I move that we vote to determine whether we want the unclaimed shares to be used as a means of paying for additional staff.

I vote yes

The main problem with this is, would we invalidate those shares so they can never ever be claimed?  If not, then it's really just a loan that could be called in any time, and if yes, then we are literally taking people's shares.  We don't know if these people are dead, in a coma, on a 6 month cruise around the world, or what...

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January 17, 2014, 05:46:34 PM
 #1946

Thanks for all your calculations and estimates theterabyte.

Regarding the investment we already invested in GPU, that is great.
Now, could we consider cloud mining of CPU coin ?

It is extremely fast to setup : a matter of minutes and low risk as you pay per hour of use. No delaying, no scam.
You only mine when it is profitable. What do you guys think ?

I support this plan.
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January 17, 2014, 05:58:07 PM
 #1947


The main problem with this is, would we invalidate those shares so they can never ever be claimed?  If not, then it's really just a loan that could be called in any time, and if yes, then we are literally taking people's shares.  We don't know if these people are dead, in a coma, on a 6 month cruise around the world, or what...

I agree with with terabyte here, there are just way too many logical reasons why unclaimed shares have remained...unclaimed.

As other people have said earlier in this thread it is very unwise to go around taking ownership of other member's shares. Not to mention how sketchy that is. Those unclaimed shares need to be held in a reserve...



Hi Garrett,
Just wanted to check in and see how things were coming along with getting an explanation for the (lack of) dividends back in October/November.

Thanks in advance for taking the time to respond.

btcboston

Seems like nobody cares of this massive mismanagement only a short period ago. I tried to bring some attention on numerous very real issues only a couple of pages back with no responses. 

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January 17, 2014, 06:43:44 PM
 #1948



The current share totals for all assets are:

Cognitive: 10420 shares, 9577 of which have been claimed.
COG.F:     100 Contracts, 96 have been claimed
COG.F2:   100 Contracts, 95 have been claimed



Very good. Thanks.

How are we going to deal with the shares that have not been claimed?

After Cog.F and Cog F2 convert, there will be a total of 1,023 unclaimed shares.
I move that we vote to determine whether we want the unclaimed shares to be used as a means of paying for additional staff.

I vote yes

The main problem with this is, would we invalidate those shares so they can never ever be claimed?  If not, then it's really just a loan that could be called in any time, and if yes, then we are literally taking people's shares.  We don't know if these people are dead, in a coma, on a 6 month cruise around the world, or what...

Should unclaimed shares should be entitled to "back dividends"Huh?
How about we create an Unclaimed Shares Reserve and use the dividends from these unclaimed shares to pay for staffing. In the event that the shares are claimed, the owners then receive their shares back but no back dividends. Thus decreasing the staffing budget as well.

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January 17, 2014, 07:12:09 PM
 #1949

What?! How do you even justify that? Of course they are entitled to the back dividends...

Unclaimed shares still have an owner, and it's not another party who hasn't purchased those shares. Why doesn't Cognitive do like every reasonable and professional company and use REVENUE to pay for staffing? Or better yet, Garr takes some of his shares and uses that as payment for the additional staff.

Is there a financial statement out yet? The one promised what, December 2nd?

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January 17, 2014, 07:19:44 PM
 #1950

What?! How do you even justify that? Of course they are entitled to the back dividends...
Unclaimed shares still have an owner, and it's not another party who hasn't purchased those shares. Why doesn't Cognitive do like every reasonable and professional company and use REVENUE to pay for staffing? Or better yet, Garr takes some of his shares and uses that as payment for the additional staff.
Is there a financial statement out yet? The one promised what, December 2nd?

Cognitive is not a real company. We are free to suggest and discuss ideas even if it looks uncommon. We don't have any obligations unless we decide to.

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January 17, 2014, 07:28:20 PM
 #1951

What?! How do you even justify that? Of course they are entitled to the back dividends...

Unclaimed shares still have an owner, and it's not another party who hasn't purchased those shares. Why doesn't Cognitive do like every reasonable and professional company and use REVENUE to pay for staffing? Or better yet, Garr takes some of his shares and uses that as payment for the additional staff.

Is there a financial statement out yet? The one promised what, December 2nd?

Unclaimed shares obviously do NOT have an owner or they would've been claimed by now.  Put the democratic process to work and let other shareholders decide if this is something the want to execute.

Time is money.

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January 17, 2014, 07:49:36 PM
 #1952

Unclaimed shares obviously do NOT have an owner -snip-

Im just going to let that sink in and leave this thread for a little bit.

Those shares wouldn't exist without an owner. Claimed =/= Owned.

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January 17, 2014, 09:26:36 PM
 #1953

Unclaimed shares obviously do NOT have an owner -snip-

Im just going to let that sink in and leave this thread for a little bit.

Those shares wouldn't exist without an owner. Claimed =/= Owned.

MilkyLep is completely right here.  A democracy doesn't mean the majority should vote to treat the minority unfairly.  If this terrible precedent was set, what is to stop Garr from deciding to send out an email asking *everyone* to "re-claim" their shares, or forfeit them, one whatever arbitrary schedule he wants?  If we raised a motion today to do this, everyone who saw the motion would think "Hey, *I* will answer the email, so my shares are safe, and if we reclaim/destroy other people's shares, mine are more valuable" - so everyone who attentively checks the motion has a motive to vote yes, and everyone who doesn't doesn't get represented.  This is terrible.

Cognitive is as "real" a company as any.  The whole point of bitcoin is enabling companies outside of the tethers of government control.  If two people get married without government involvement, is their marriage "not a real marriage"?  If someone starts a company without filling out the paperwork in whatever arbitrary country you decide to care about, are they not "a real company"?  Who gave you the right to say such bullshit?  COG is as real as Garrett keeps it, by his own actions.  Real doesn't mean perfect, it doesn't mean successful, it doesn't mean recognized by arbitrary governments, it means "reflects reality".

Contractually, a "share" of a company is a contract saying you own one portion of a company.  If you destroy these, or reassign their ownership, not only are you breaking contract, you are also stealing someone's property and casting doubt on the future reliability of everyone else's shares.

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January 17, 2014, 09:33:50 PM
 #1954

For those of you who clearly aren't very up on what "share", "stock", and "equity" means: http://www.investopedia.com/university/stocks/stocks1.asp

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January 17, 2014, 10:43:43 PM
 #1955

Why doesn't Cognitive do like every reasonable and professional company ....

Hahaha, comedy gold.

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January 18, 2014, 09:07:47 PM
 #1956

Completely unrelated to recent discussion - I was recently pointed to GridChip, which is working on a Scrypt ASIC, and recently presented 400 developer boards in early december.

https://litecointalk.org/index.php?topic=9545.0

Might be worth investigating - I am not very positive on altcoins in general but if we can make more mining altcoins then immediately converting to BTC, I'm in favor.

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January 19, 2014, 09:28:12 AM
 #1957

Completely unrelated to recent discussion - I was recently pointed to GridChip, which is working on a Scrypt ASIC, and recently presented 400 developer boards in early december.
https://litecointalk.org/index.php?topic=9545.0
Might be worth investigating - I am not very positive on altcoins in general but if we can make more mining altcoins then immediately converting to BTC, I'm in favor.



Yes let's get these chips for cheap and find an assembly. Is Garrett or anyone able to assembly chip/board ?


Also what do you think about my idea of cloud-mining CPU coin ?

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January 19, 2014, 10:01:48 AM
 #1958

Also what do you think about my idea of cloud-mining CPU coin ?

I like that it is low-risk, but if it takes a lot of time/effort to set up that might be better spent elsewhere, that'd be my only concern.  There are always opportunity costs.  If it was easy to set up, everyone would do it.

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January 19, 2014, 10:08:39 AM
 #1959

Also what do you think about my idea of cloud-mining CPU coin ?
I like that it is low-risk, but if it takes a lot of time/effort to set up that might be better spent elsewhere, that'd be my only concern.  There are always opportunity costs.  If it was easy to set up, everyone would do it.

I am into CPU mining and I can tell that every time a new CPU coin is launched, there is an unbelievable jump of difficulty due to cloud mining.
All CPU coins are mined at 90% by cloud server.

It is very fast to setup because you don't deal with the hardware. You just write a nice auto-install script and copy paste it on hundred of server you just rented.

The only little problem is that you need a bank account with FIAT to rent most of servers. Some accept Bitcoins but they are expensive.

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January 19, 2014, 10:17:19 AM
 #1960

Also what do you think about my idea of cloud-mining CPU coin ?
I like that it is low-risk, but if it takes a lot of time/effort to set up that might be better spent elsewhere, that'd be my only concern.  There are always opportunity costs.  If it was easy to set up, everyone would do it.

I am into CPU mining and I can tell that every time a new CPU coin is launched, there is an unbelievable jump of difficulty due to cloud mining.
All CPU coins are mined at 90% by cloud server.

It is very fast to setup because you don't deal with the hardware. You just write a nice auto-install script and copy paste it on hundred of server you just rented.

The only little problem is that you need a bank account with FIAT to rent most of servers. Some accept Bitcoins but they are expensive.

Cognitive is run by a guy who has little time. I suggest he gets Cognitive right first, before venturing into every possible available altcoin.

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