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Author Topic: Starting a new FPGA mining farm/contract! Cognitive Resurrected on[Havelock]  (Read 274510 times)
silverfuture
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February 04, 2014, 02:00:24 PM
 #2081

I confirm having received the first half of FIMB re-payment (BTC38.56) from Garrett today. Hallelujah!

Fucking hell what a release !

We're on the good way.


Yes, this is very good news. I'll put the cognitive link back in my sig. 

Kakobrekla is not helpful at all here and should be ignored, but this is a serious issue that needs to addressed sooner rather than later.

If retards like you would listen to me, you would never get into this mess with this scammer in the first place.
Even then, I gave fair warnings to get out, 3 months ago.

Do not worry, I enjoy looking at fools being parted from their money.


That is a sick way to get enjoyment. You aren't being helpful at all because you have no substance in any of your claims, just predictions of doom and a personal vendetta.  It makes you look like a sad little person with nothing better to do than hurl feces at others from the sidelines.

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February 04, 2014, 04:43:43 PM
 #2082

Quit feeding the troll, people.  A religious zealot is someone who believes for poor reasons.  A religious zealot will use whatever facts he can to support his presuppositions, and when the facts fail, resort to ad hominem attacks.

Sometimes zealots are right, and sometimes they are wrong.  Even a broken clock is right twice a day.  This troll was right that not everything was perfect with Garr, and mistakes were made, but he's been proven wrong that the intent was malicious.  There is no reason to believe it was in garr's best interest to pay 32BTC just to "further the scam".  FIMB was not a scam, it was just a failure.  COG is not a scam, and when the hardware arrives, it has the potential to be very successful.  But despite this new evidence, some people aren't looking at the evidence, and some people will never be convinced.  Those people should be ignored.

Nobody should forget what happened in the past, but they should consider all the evidence.  Garr is obviously making an effort here and we should continue to encourage him to improve, hire the help he needs, etc.

(Disclosure:  I own about 1.7% of COG by shares)

My Bitcoin Tip Jar: 11Ws5nzwy44cMcymu6ddRxdp9uvDonNqB
Garr255
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What's a GPU?


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February 04, 2014, 05:02:08 PM
 #2083

Quit feeding the troll, people.  A religious zealot is someone who believes for poor reasons.  A religious zealot will use whatever facts he can to support his presuppositions, and when the facts fail, resort to ad hominem attacks.

Sometimes zealots are right, and sometimes they are wrong.  Even a broken clock is right twice a day.  This troll was right that not everything was perfect with Garr, and mistakes were made, but he's been proven wrong that the intent was malicious.  There is no reason to believe it was in garr's best interest to pay 32BTC just to "further the scam".  FIMB was not a scam, it was just a failure.  COG is not a scam, and when the hardware arrives, it has the potential to be very successful.  But despite this new evidence, some people aren't looking at the evidence, and some people will never be convinced.  Those people should be ignored.

Nobody should forget what happened in the past, but they should consider all the evidence.  Garr is obviously making an effort here and we should continue to encourage him to improve, hire the help he needs, etc.

(Disclosure:  I own about 1.7% of COG by shares)

Thank you for your level head, theterabyte. I am working to correct everything that has gone wrong. By the end of the year (hopefully much much sooner) FIMB will be fully repaid. Fixed interest with mining is a risky thing to attempt, and it has costed me dearly.

“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!
silverfuture
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central banking = outdated protocol


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February 04, 2014, 05:13:32 PM
 #2084

Quit feeding the troll, people.  A religious zealot is someone who believes for poor reasons.  A religious zealot will use whatever facts he can to support his presuppositions, and when the facts fail, resort to ad hominem attacks.

Sometimes zealots are right, and sometimes they are wrong.  Even a broken clock is right twice a day.  This troll was right that not everything was perfect with Garr, and mistakes were made, but he's been proven wrong that the intent was malicious.  There is no reason to believe it was in garr's best interest to pay 32BTC just to "further the scam".  FIMB was not a scam, it was just a failure.  COG is not a scam, and when the hardware arrives, it has the potential to be very successful.  But despite this new evidence, some people aren't looking at the evidence, and some people will never be convinced.  Those people should be ignored.

Nobody should forget what happened in the past, but they should consider all the evidence.  Garr is obviously making an effort here and we should continue to encourage him to improve, hire the help he needs, etc.

(Disclosure:  I own about 1.7% of COG by shares)

+1

Thanks for your insights and contributions to Cognitive.

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Surf Capital Management
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February 04, 2014, 10:14:39 PM
 #2085




kakobrekla
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Psi laju, karavani prolaze.


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February 04, 2014, 10:37:15 PM
 #2086

USD  Roll Eyes

Dood, its algorithmic dollar!

logicbomb666
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February 04, 2014, 10:45:37 PM
 #2087

USD  Roll Eyes

As much as you want to doubt it, the world still runs on FIAT. And it will probably continue to run on FIAT for a looooong time.

I think snare rolls should be used as a currency.
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February 04, 2014, 11:13:08 PM
 #2088

"logic"bomb  Roll Eyes

Seriously, if you price a Bitcoin security in USD, you're a retard. There is no way around that.
Just keep your bitcoins and don't invest, you'll be richer.

You're wrong.

Within a simple model where difficulty is proportional to Bitcoin price in US dollars (or, maybe, just correlates with it positively), investment in mining securities is essentially a bet against rising Bitcoin price.

In reality it is much more complex, but the general idea is the same. You can dig up a story of burnside's Litecoin mining bond, it provides empiric evidence to this theory. (Rapid rise of Litecoin price -> rapid decline of perpetual bond value.)

If you have a crystal ball and are 100% sure that Bitcoin price will go up, it probably makes sense to keep bitcoins in your paper wallet.

But ordinary people do not have a crystal ball, and they know that Bitcoin price can go down, or stagnate for a couple of years. That's what happened July 2011 - January 2013, after all.

So they need to hedge... Obviously, one can just sell his bitcoins and keep US dollars, we can consider it a baseline.

Buying mining-related securities is another way to hedge it.

And thus this graph definitely makes sense:

1. it shows performance of investment into mining security against default hedge strategy (keeping US dollars)
2. in general, price of mining hardware is in USD, so in makes more sense to price mining company shares in USD as well... they are traded on Bitcoin exchanges, yes, but Bitcoin can be seen as a payment system here.

tl; dr: You'll see how it works if you won't look at it from permabull's position.

colored coins proof-of-concept: private currencies, stock/bond p2p exchange

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mainline
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February 04, 2014, 11:35:18 PM
 #2089

...
Within a simple model where difficulty is proportional to Bitcoin price in US dollars (or, maybe, just correlates with it positively), investment in mining securities is essentially a bet against rising Bitcoin price.
...

I'm afraid garbage in->garbage out (junk model).

There is clearly no causal relationship between difficulty and bitcoin price, otherwise we should be able to drive the price by increasing the hashrate.
The correlation between hashrate/price is also flaky at best.  It's impossible to make even the most basic assumptions, like !((price of mining gear) > (bitcoins mined over lifetime)) - see 99% of all the ASICs bought at consumer level to date.  We're not dealing with a rational, frictionless system.
zefyr0s
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February 05, 2014, 07:20:09 AM
 #2090

Blood in blood out, right mainline?

The thing is, if the price increases, mining solutions that would not make ROI actually have the chance to do so. Meaning buying gear with a less than 100% ROI is just a gamble, one supposing that the price will increase.
kakobrekla
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Psi laju, karavani prolaze.


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February 05, 2014, 08:52:00 AM
 #2091

The thing is, if the price increases, mining solutions that would not make ROI actually have the chance to do so.

See the thing is, you are retarded and will end up poor.

Not that theres anything wrong with that.

theterabyte
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February 05, 2014, 09:22:10 AM
 #2092

Blood in blood out, right mainline?

The thing is, if the price increases, mining solutions that would not make ROI actually have the chance to do so. Meaning buying gear with a less than 100% ROI is just a gamble, one supposing that the price will increase.

Price increasing can cause a machine to ROI that otherwise wouldn't have - IF you consider the purchase price in USD - but if it only ROIs due to increase in bitcoin price, you should have just bought bitcoins.

One rational explanation for why people buy hardware that won't ROI is it is a "premium" they are paying for "truly anonymous coins" - If you buy a $1600 miner, produce 1.5 bitcoins with it, and bitcoins are worth $800 each, you technically didn't ROI, but you might consider those 1.5 BTC you didn't have to sign up for coinbase or go meet someone on localbitcoins to obtain to be worth $1600 total (i.e. 33% markup).

Obviously, that said, it is still a very risky strategy since the projected return of a miner can vary so heavily between the time it is ordered and the time it is received, you could still end up paying an unreasonable markup.

As for bitcoin difficulty, there is NO clear correlation between price and difficulty or hash rate.  Value has gone up, hash rate has gone up, but so has my blood pressure and the number of seconds since 1980.  That doesn't mean they have anything to do with each other.  The price goes up when demand goes up faster than supply, but demand is fickle as a motherfucker and supply has a constant component from new coins, but is supplemented by people cashing out or buying things from vendors that convert to USD, which is a very complex system.

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Garr255
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February 05, 2014, 06:02:03 PM
 #2093

I got an e-mail from Ravi, my first units will be going out this week.  Grin

We are in the same order, so the same goes for Cognitive Smiley

“First they ignore you, then they laugh at you, then they fight you, then you win.”  -- Mahatma Gandhi

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btcboston
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February 05, 2014, 06:07:23 PM
 #2094

Quit feeding the troll, people.  A religious zealot is someone who believes for poor reasons.  A religious zealot will use whatever facts he can to support his presuppositions, and when the facts fail, resort to ad hominem attacks.

Sometimes zealots are right, and sometimes they are wrong.  Even a broken clock is right twice a day.  This troll was right that not everything was perfect with Garr, and mistakes were made, but he's been proven wrong that the intent was malicious.  There is no reason to believe it was in garr's best interest to pay 32BTC just to "further the scam".  FIMB was not a scam, it was just a failure.  COG is not a scam, and when the hardware arrives, it has the potential to be very successful.  But despite this new evidence, some people aren't looking at the evidence, and some people will never be convinced.  Those people should be ignored.

Nobody should forget what happened in the past, but they should consider all the evidence.  Garr is obviously making an effort here and we should continue to encourage him to improve, hire the help he needs, etc.

(Disclosure:  I own about 1.7% of COG by shares)

We still have no evidence that COG dividends won't continue to disappear. That issue has never been addressed and all our requests for more information have been ignored. It's great that he partially repaid FIMB but there are still many questions here.

investr
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February 06, 2014, 06:51:56 PM
 #2095

I got an e-mail from Ravi, my first units will be going out this week.  Grin

Did you have to sign an NDA as well?

Successful transactions: http://pastebin.com/GM27Ju59
investr
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February 06, 2014, 06:56:29 PM
 #2096

If you didn't have to sign an NDA, why did Garr have to sign an NDA for this "first round" of orders?

Successful transactions: http://pastebin.com/GM27Ju59
btcash
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February 07, 2014, 12:58:14 AM
 #2097

Quote
Also, I just got two sCrypt rigs set up for Cognitive on Tompool.org. The mining output is viewable by looking for the address starting in "1cog".
Where can I see the hashrate on tompool? Could you specify the address?

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February 07, 2014, 03:24:20 AM
 #2098

appears to have not been mining there for several hours

There may be a problem with that pool its speed and user seems to be steadily declining
superresistant
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February 07, 2014, 09:20:52 AM
 #2099

appears to have not been mining there for several hours
There may be a problem with that pool its speed and user seems to be steadily declining

That pool is shit in my opinion. We better try an other.
Garrett probably have trouble setting up the RIG because he went offline or maybe he is trying different pools with new addresses to see which is the best.

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February 07, 2014, 09:45:42 PM
 #2100

We received a dividend on 01/20, and on 02/03, but not the one on 01/27...

Successful transactions: http://pastebin.com/GM27Ju59
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