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

[damiano]

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

Which isnt good 

edit: i currently am not a shareholder

[theterabyte]

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

Which isnt good 

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.

[trek27]

Garrett,
Any update on progress with electrical work and litecoin hardware?

[alincoln]

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]

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

[kakobrekla]

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]

Cognitive is recognized for being the most transparent, shareholder-friendly, and efficient mining company.

Hehe, reminds me of this.

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]

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]

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]

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.

[Garr255]

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.

[damiano]

When do you expect hashing to begin?

[alincoln]

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]

Nice words, lets see if any actions follow.

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?

[theterabyte]

Nice words, lets see if any actions follow.

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?

Avalon chips were *also* ordered by COG.  Those avalons were able to be refunded and the refund was applied towards the cointerra order (hence, COG.F1 and COG.F2 will both mature when the cointerra order arrives, COG.F1 was originally for an avalon order which went sideways).

If Garr is doing it right, the ones listed on the cog website are only the cog order, but Garr should be able to confirm that for us.

[Garr255]

Nice words, lets see if any actions follow.

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?

Avalon chips were *also* ordered by COG.  Those avalons were able to be refunded and the refund was applied towards the cointerra order (hence, COG.F1 and COG.F2 will both mature when the cointerra order arrives, COG.F1 was originally for an avalon order which went sideways).

If Garr is doing it right, the ones listed on the cog website are only the cog order, but Garr should be able to confirm that for us.

Confirmed.

Also Moderators, please remove the above spam. Go to https://bitcointalk.org/index.php?topic=67547.msg4791447#msg4791447 to scroll above kakoberkla's spam.

Thanks.

[theterabyte]

In other "happy joy!" news, Cointerra says on their blog they shipped the first retail unit and it is now in a customer's hands:
http://cointerra.com/pr-cointerra-begins-shipment-terraminer-iv-worlds-fastest-bitcoin-miner/

I wouldn't be surprised if we still don't actually receive our miners until February (they are still slightly behind schedule), but this is still great news.

[theterabyte]

It's also worth noting that earlier (Dec. 10th) I ran some projections (https://bitcointalk.org/index.php?topic=67547.msg3916609#msg3916609):

Difficulty at the end of January (low projected) => 908mil * ( 1.284**4 ) => 2468mil
Difficulty at the end of January (middle projected) => 908mil * ( 1.35**4 ) => 3015mil
Difficulty at the end of January (pessimistic projected) => 908mil * ( 1.50**4 ) => 4596mil

We are currently at 2.19mil, under the lowest projection I made.  Things are going to ramp up when cointerra ships, no doubt, but we are on track to make a tidy sum still.

[stabs]

Is Cointerra going to add extra hashing capacity to our order since they did not make the January deadline?  I seem to remember 30% more hash for every month they were behind but am too busy at the moment to find the post.

[investr]

I just emailed a number of asset platforms, asking them to convince us to use theirs. Right now I think Havelock is one of the better options.

Yesterday, I placed an order for Cognitive from CoinTerra! I negotiated a discounted rate so we were able to purchase 14 2th/s boxes for a total hashrate of 28th/s, to be delivered in January!

For added protection, I signed a contract with CoinTerra that includes: "If delivery is beyond January 31 2014, for every thirty days late CoinTerra is in delivery of hardware, CoinTerra shall deliver an additional 30% of the total
hashpower agreed to in this contract. if no hardware is delivered within 180 days after January
31, a full refund shall be made to Cognitive."

I can't wait to see where share price goes once we list on a new exchange, and as we get closer and closer to delivery

I suppose nothing happens between days 2 - 29?