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Author Topic: Starting a new FPGA mining farm/contract! Cognitive Resurrected on[Havelock]  (Read 274535 times)
killerstorm
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January 23, 2014, 08:17:20 PM
 #2001

That's not how I understand it and IMO it's very questionable practice to use the name of the company you run to issue a personal loan

Take a closer look: For cognitive, issuer is COGNITIVE <garrett@cogntitivemining.com>

For  FIMB, issuer is CREATE <garrett@cognitivemining.com>

That is, he registered a different account to issue FIMB (actually he registered it for another security, but then re-purposed it for FIMB).

Email is the same, BTCT.co allowed one to use same email for multiple accounts.


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lunarboy
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January 23, 2014, 08:44:58 PM
 #2002



Assuming the 28.75 th/s comes online relatively soon, how about compensating this position using the dividends of the 1,023 unclaimed shares? All dividends paid out from these unclaimed shares can also be debited to an accounts payable ledger so we can keep track of what is owed in the event that the shares are claimed and back dividends need to be paid.


Seriously you need to stop with this, those shares are not yours, they are not for 're-appropriation'. If they remain unclaimed perhaps dividends should be kept on hold, but they very fact they are unclaimed doesn't give you, or anyone else the right to steal them. 

ps you might not have realised this, but becasue they remain unclaimed, it has effectively already reduced the overall share total, and hence increased the price of shares on the market.
theterabyte
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January 24, 2014, 01:52:40 AM
 #2003



Assuming the 28.75 th/s comes online relatively soon, how about compensating this position using the dividends of the 1,023 unclaimed shares? All dividends paid out from these unclaimed shares can also be debited to an accounts payable ledger so we can keep track of what is owed in the event that the shares are claimed and back dividends need to be paid.


Seriously you need to stop with this, those shares are not yours, they are not for 're-appropriation'. If they remain unclaimed perhaps dividends should be kept on hold, but they very fact they are unclaimed doesn't give you, or anyone else the right to steal them. 

ps you might not have realised this, but becasue they remain unclaimed, it has effectively already reduced the overall share total, and hence increased the price of shares on the market.

Quoted for truth.  At least *someone* understands what "shares" mean.

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alincoln
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January 24, 2014, 12:54:10 PM
 #2004

TODAY IS 01/24/14, IT'S BEEN 100 DAYS SINCE GARRETT LAST PAID FIMB DIVIDENDS.

I'll post this every day until he pays up late dividends and principal.

I own 7712 bonds (face value: 77.12BTC), my withdrawal address is 1Bqg9YKE25U1BRCRm3pJiGsiFE5vvgirtB

GARRETT, PAY UP.
alincoln
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January 25, 2014, 01:39:18 PM
 #2005

TODAY IS 01/25/14, IT'S BEEN 101 DAYS SINCE GARRETT LAST PAID FIMB DIVIDENDS.

I'll post this every day until he pays up late dividends and principal.

I own 7712 bonds (face value: 77.12BTC), my withdrawal address is 1Bqg9YKE25U1BRCRm3pJiGsiFE5vvgirtB

GARRETT, PAY UP.
kakobrekla
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January 25, 2014, 03:01:51 PM
 #2006

He is busy heating a larger pan for big fishes.

damiano
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January 25, 2014, 05:42:41 PM
 #2007

With mining about to start I would of thought there would of been a small rise in share price.  

Which isnt good  Undecided

edit: i currently am not a shareholder
theterabyte
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January 25, 2014, 06:35:34 PM
 #2008

With mining about to start I would of thought there would of been a small rise in share price.  

Which isnt good  Undecided

edit: i currently am not a shareholder

Nothing is ever "about to happen" in bitcoinland.  Everything is "2 weeks away(tm)" until it has already happened.  Except maybe for ASICMiner, which for some reason, price jumps happen on estimated dates even when there is no news.

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trek27
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January 25, 2014, 09:38:36 PM
 #2009


Garrett,
Any update on progress with electrical work and litecoin hardware?
alincoln
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January 26, 2014, 06:04:07 PM
 #2010

TODAY IS 01/26/14, IT'S BEEN 102 DAYS SINCE GARRETT LAST PAID FIMB DIVIDENDS.

Garrett, CEO of Cognitive Mining, issued FIMB (http://imgur.com/ePE3CyT), a BTC backed bond with 2% monthly interest, on the now defunct BTCT.CO securities exchange. After a couple months, he simply stopped paying dividends and walked away, without ever giving an explanation to bondholders.

I am sorry for the spammy nature of this message but it's one of the only ways of pressuring Garrett to come out of the shadows and resolve this issue, and also serves as a warning for anyone thinking of putting their hard earned money on anything ran by Garrett.

Some people say Garrett has been around with Cognitive for too long and is certainly "not a scammer". I leave it up for one's judgment how to call someone that does what Garrett is doing.

I own 7712 bonds (face value: 77.12BTC), my withdrawal address is 1Bqg9YKE25U1BRCRm3pJiGsiFE5vvgirtB and I'll post this message every day until he pays up late dividends and principal.

GARRETT, PAY UP.
superresistant
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January 26, 2014, 06:21:38 PM
 #2011


I reckon you made me laugh kakobrekla. You've got talent for sure.

kakobrekla
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January 26, 2014, 06:36:16 PM
 #2012

You've got talent for sure.

Thanks, but I'm not so sure. Lets ask alincoln, if he is laughing. alincoln, are you laughing?

kakobrekla
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January 26, 2014, 06:40:49 PM
 #2013

Quote from: Garrett MacDonald
Cognitive is recognized for being the most transparent, shareholder-friendly, and efficient mining company.

Hehe, reminds me of this.
Quote from: #bitcoin-assets
02:36:35 mircea_popescu: dentist = scam. not a scam AS SUCH, in the sense that it does fix your teeth but a) you have to make appointments and they charge if you cancel them without notice and b) it costs money.
02:36:53 mircea_popescu: voodoo specialist = doctor aaaaa++++ would use again.
02:37:08 mircea_popescu: not in the sense that he fixes your teeth, but very good service.

kakobrekla
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January 27, 2014, 03:37:23 AM
 #2014

I will start a request to put a scammer tag on him.
I'm afraid scammer tags are a thing of the past. Either mods threw the towel or they are cool with scammers.

You will also find this link... interesting: https://bitcointalk.org/index.php?topic=141503.msg1642658#msg1642658

And this http://bitcointalk.org/index.php?topic=123654.0

alincoln
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January 27, 2014, 01:53:58 PM
 #2015

TODAY IS 01/27/14, IT'S BEEN 103 DAYS SINCE GARRETT LAST PAID FIMB DIVIDENDS.

Garrett, CEO of Cognitive Mining, issued FIMB (http://imgur.com/ePE3CyT), a BTC backed bond with 2% monthly interest, on the now defunct BTCT.CO securities exchange. After a couple months, he simply stopped paying dividends and walked away, without ever giving any explanation to bondholders.

I am sorry for the spammy nature of these message but it's one of the only ways of pressuring Garrett to come out of the shadows and resolve this issue, and also serves as a warning for anyone thinking of putting their hard earned money on anything ran by this person.

Some people say Garrett has been around with Cognitive for too long and is certainly "not a scammer". I leave it up for one's judgment how to properly call someone that does what he is doing.

I own 7712 bonds (face value: 77.12BTC), my withdrawal address is 1Bqg9YKE25U1BRCRm3pJiGsiFE5vvgirtB and I'll post this message every day until he pays up late dividends and principal.

GARRETT, PAY UP.
Garr255
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January 28, 2014, 05:28:21 AM
 #2016

I will be emailing FIMB holders tomorrow evening regarding repayment. I will be able to repay the bonds and I will send as much payment as possible tomorrow. The transactions will be publicly viewable to all.

I have made some strategic relationships over the weekend and I will be able to make things right with all involved. Not another day will pass with any of my bitcoin affairs being neglected, you can be sure of that.

Edit: The Avalon chips that were purchased using FIMB funds are now sitting in a box, because they arrived so late it was not worth it to assemble them. I did not have the option to refund. Regardless, FIMB holders will be reimbursed.

“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!
Garr255
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January 28, 2014, 05:38:58 AM
 #2017

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

Yes but this part could be managed by an other person. The is no geographic requirement so anyone from this group could do it.
We can have a small CPU team like :
 - One person that write and test the auto-install script
 - One person that decide which coin to mine according to calculation
 - One person that rent servers and copy paste the script
 - One person that sell the coins on this forum or on exchange
Everyone could check the mining pool data and the main wallet.

It is all about getting a bit organized and having some staff or volunteers.

I too agree that in order for Cognitive to be wildly successful like it once was more people need to come on board on the management front, preferably shareholders, because we all have a vested interest in the company succeeding as opposed to contracted workers.

As the New hardware arrives, I have a plan to correct Cognitive fully:

First, total 100% transparency is entirely necessary. All book keeping will need to be done meticulously. There will not be an expense that goes unaccounted. Every thirty days a comprehensive, formal expense report will be posted in addition to the website inventory being updated the same day as a transaction.
Second, we need to find members willing to help this recovery process. People for PR, for research (which includes new hardware, new tech, and pricing on existing tech).
Third, the entirety of the hardware will soon be moved to a fully managed datacenter where power is $0.025/kWh, which is the cheapest in the nation because of an abundance of hydroelectric power.

As always, I love to hear constructive input of all sorts. It is my goal to make Cognitive the highly desirable asset it once was.

“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!
damiano
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January 28, 2014, 05:57:47 AM
 #2018

When do you expect hashing to begin?
alincoln
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January 28, 2014, 11:45:09 AM
 #2019

I will be emailing FIMB holders tomorrow evening regarding repayment. I will be able to repay the bonds and I will send as much payment as possible tomorrow. The transactions will be publicly viewable to all.

I have made some strategic relationships over the weekend and I will be able to make things right with all involved. Not another day will pass with any of my bitcoin affairs being neglected, you can be sure of that.

Edit: The Avalon chips that were purchased using FIMB funds are now sitting in a box, because they arrived so late it was not worth it to assemble them. I did not have the option to refund. Regardless, FIMB holders will be reimbursed.


I am pausing my daily rant and I am looking forward being partially or fully repaid tomorrow, 01/29/14. If you miss tomorrow's date, please come here and explain, instead of leaving bondholders in a complete disinformation limbo.

Needless to say that if there aren't any meaningful updates tomorrow I'll resume my messages the next day.
btcash
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January 28, 2014, 01:55:01 PM
 #2020

Nice words, lets see if any actions follow.

Quote
Edit: The Avalon chips that were purchased using FIMB funds are now sitting in a box, because they arrived so late it was not worth it to assemble them. I did not have the option to refund. Regardless, FIMB holders will be reimbursed.
Why are the Avalon chips listed on the cognitive website as expense? Reimbursed from your personal funds or the funds you owe cognitive shareholders?

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