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

[Garr255]

Its purely HTML5, which is also why it looks terrible in older browsers

[Garr255]

Motion Raised! Opposing what the motion page reads, and enforcing what the contract states: 70% of shareholders must vote "yes" for the motion to pass.

https://glbse.com/vote/view/24

If this motion passes, capital will be raised to purchase five Quad XC6SLX150 Boards, which are featured here: https://bitcointalk.org/index.php?topic=78239.0
1400 shares will be issued at 0.6BTC each. Remaining funds from this capital will be invested in other GLBSE companies/bonds, which will ultimately increase Cognitive's earnings. This will more than double Cognitive's current hashrate. The operator will maintain the contractually granted 10% of the company and will receive 140 shares.

[DiabloD3]

Motion Raised! Opposing what the motion page reads, and enforcing what the contract states: 70% of shareholders must vote "yes" for the motion to pass.

https://glbse.com/vote/view/24

If this motion passes, capital will be raised to purchase five Quad XC6SLX150 Boards, which are featured here: https://bitcointalk.org/index.php?topic=78239.0
1400 shares will be issued at 0.6BTC each. Remaining funds from this capital will be invested in other GLBSE companies/bonds, which will ultimately increase Cognitive's earnings. This will more than double Cognitive's current hashrate. The operator will maintain the contractually granted 10% of the company and will receive 140 shares.

Remember Cognitive is on the DMC bond trade list. 1 DMC for 1 Cognitive.

[nimda]

Seems like the hashrate is @ 0 starting today? Change pools? Internet down?
http://eligius.st/~artefact2/7/15XmWTsyLp6WVMCn52sSTm1tB9NXyP9fRM

[Garr255]

Seems like the hashrate is @ 0 starting today? Change pools? Internet down?
http://eligius.st/~artefact2/7/15XmWTsyLp6WVMCn52sSTm1tB9NXyP9fRM

Clipse's pool doesn't like MPBM; switching to GPUmax with Eligius backup both with 1DfGiAHbW1jV8i4ZRcFpR6CGRkWnmdYdFb

[nimda]

Well I'm blind
Thanks; thinking about buying a few shares

[Garr255]

Heh, no problem.

[Garr255]

Motion voting closes tomorrow around 6PM PST. Get your votes in!

[stabs]

Do current shareholders get first dibs on the new shares?

[Garr255]

Do current shareholders get first dibs on the new shares?

I'd like to do something like that, it seems very fair.

All who are interested:
Send me a PM with proof of ownership, GLBSE account name, and how many shares you want. I'll give you an address to send the coins to, and they will be sent back if the motion does not pass.

If the motion passes, shares will be issued tonight and put up for sale tomorrow at 8:00pm PST.

Preorders can be placed and will be fulfilled in the time between the issuance of the shares and when shares are released for public sale.

[Garr255]

The motion passed with 99.97% of voters for it. https://glbse.com/asset/old_motions/COGNITIVE

3780 for and one against.

As stated above, shares will be issued now and available for current stock owners to purchase, then will be put up for public sale at 8:00pm PST tomorrow.

I've been going back and fourth with the makers of the board we plan to invest in, and we're working out a way to get them their money, because they don't accept Bitcoin

So you don't have to read the last page:

Do current shareholders get first dibs on the new shares?

I'd like to do something like that, it seems very fair.

All who are interested:
Send me a PM with proof of ownership, GLBSE account name, and how many shares you want. I'll give you an address to send the coins to, and they will be sent back if the motion does not pass.

If the motion passes, shares will be issued tonight and put up for sale tomorrow at 8:00pm PST.

Preorders can be placed and will be fulfilled in the time between the issuance of the shares and when shares are released for public sale.

[investr]

I have an issue with this motion if you'll hear me out. I'm ok with expanding to purchase more hardware, but what I'm not ok with is "Remaining funds from this capital will be invested in other GLBSE companies/bonds, which will ultimately increase Cognitive's earnings". This is vague and incorrect in stating that earnings will ultimately increase. Other companies can fail and lose money, which is why I'm not investing in those companies. Also, nothing specific is given as to what companies Cognitive would invest in, how much would be invested, or on what quantitative or qualitative basis Cognitive would make to invest in companies. In my opinion, there should have been two separate motions, and I'm sorry I didn't come across this sooner.

Another point worth making is that as the sole operator of Cognitive, you have proven yourself to be a great technical operator, manager, communicator, and what have you for running your machines. But what makes you a good investor? I'm not sure that I trust someone else to make investments for me. I'm honestly surprised no one else has brought anything like this up, as I would want to know exactly where the money is going, how it is being spent, and based on what assessment. As I currently hold about 1% of Cognitive I feel that this is something worth bringing up and I'm curious to hear other people's perspectives.

[Bees Brothers]

I have an issue with this motion if you'll hear me out. I'm ok with expanding to purchase more hardware, but what I'm not ok with is "Remaining funds from this capital will be invested in other GLBSE companies/bonds, which will ultimately increase Cognitive's earnings". This is vague and incorrect in stating that earnings will ultimately increase. Other companies can fail and lose money, which is why I'm not investing in those companies. Also, nothing specific is given as to what companies Cognitive would invest in, how much would be invested, or on what quantitative or qualitative basis Cognitive would make to invest in companies. In my opinion, there should have been two separate motions, and I'm sorry I didn't come across this sooner.

Another point worth making is that as the sole operator of Cognitive, you have proven yourself to be a great technical operator, manager, communicator, and what have you for running your machines. But what makes you a good investor? I'm not sure that I trust someone else to make investments for me. I'm honestly surprised no one else has brought anything like this up, as I would want to know exactly where the money is going, how it is being spent, and based on what assessment. As I currently hold about 1% of Cognitive I feel that this is something worth bringing up and I'm curious to hear other people's perspectives.

I noticed that too.

I figured that after buying new hardware, there would only be a small amount of funds left over, and was curious as to where and what Garr would invest in.   

[Kluge]

I have an issue with this motion if you'll hear me out. I'm ok with expanding to purchase more hardware, but what I'm not ok with is "Remaining funds from this capital will be invested in other GLBSE companies/bonds, which will ultimately increase Cognitive's earnings". This is vague and incorrect in stating that earnings will ultimately increase. Other companies can fail and lose money, which is why I'm not investing in those companies. Also, nothing specific is given as to what companies Cognitive would invest in, how much would be invested, or on what quantitative or qualitative basis Cognitive would make to invest in companies. In my opinion, there should have been two separate motions, and I'm sorry I didn't come across this sooner.

Another point worth making is that as the sole operator of Cognitive, you have proven yourself to be a great technical operator, manager, communicator, and what have you for running your machines. But what makes you a good investor? I'm not sure that I trust someone else to make investments for me. I'm honestly surprised no one else has brought anything like this up, as I would want to know exactly where the money is going, how it is being spent, and based on what assessment. As I currently hold about 1% of Cognitive I feel that this is something worth bringing up and I'm curious to hear other people's perspectives.

I noticed that too.

I figured that after buying new hardware, there would only be a small amount of funds left over, and was curious as to where and what Garr would invest in.   

Same here. I'm assuming we're talking about "leftover funds" which'd be used, not thousands of coins. May's well do something with them, and given how stupid-easy it is to grow something in the Bitcoin economy, you'd be hard-pressed to end up with a loss. Investing (I wrote "Incesting" at first - Idunno if that was really unintentional) in other mining companies seems a little cannibalistic and unconfident.

I own nearly 2/5 of Cognitive, now (ETA: this is false now there's 6.4k shares instead of 5k). I'd definitely prefer funds stay in something relatively liquid (I don't think you're providing seed money for any private manufacturers or investing in boats, so you should be good on that), and something with stable returns (low-risk). Blurring conflict-of-interest lines, but I'd be happy to give Cognitive a preferable CD rate of 6%/32D with the option to take out the entirety of funds on demand, but with interest-nulling penalty should it be exercised prior to date of maturity (which'd be every 32 days, assuming auto-renewal). No Pirate exposure, decent diversification, and relatively enormous % ownership equity compared to typical banks.

[Garr255]

Thanks for the feedback everyone. I added that bit to the motion just because we might have 100 or less BTC left over and remaining dormant, and I'd hate to see it simply sit.

I do plan to ask before purchasing shares for the company, and I will make majority shareholders' opinions have a significant impact on what is done with the funds. Although, if everyone feels safer, I'd be happy to put all the coins in Kluge's CD.

Any proposals for fund placement?

[Bees Brothers]

Thanks for the feedback everyone. I added that bit to the motion just because we might have 100 or less BTC left over and remaining dormant, and I'd hate to see it simply sit.

I do plan to ask before purchasing shares for the company, and I will make majority shareholders' opinions have a significant impact on what is done with the funds. Although, if everyone feels safer, I'd be happy to put all the coins in Kluge's CD.

Any proposals for fund placement?

I'm not a major share holder, but I think Kluge's offer sounds good and think he is a safe and profitable place to park funds for a while.

[Garr255]

I also thing we should put the funds in the Kluge CD until Yohan and crew lets up pay.

[brendio]

[...] Investing (I wrote "Incesting" at first - Idunno if that was really unintentional) in other mining companies seems a little cannibalistic and unconfident.

I own nearly 2/5 of Cognitive

Investing the funds back in your CD is a bit incestuous too!  Kluge invests in Cognitive. Cognitive invests in Kluge.

In case anyone misunderstands, I'm just stirring.  A lot of big listed companies have cross holdings. I'm not currently a Cognitive investor, but I think BDK is as good a place as any for funds not immediately required.

[DiabloD3]

[...] Investing (I wrote "Incesting" at first - Idunno if that was really unintentional) in other mining companies seems a little cannibalistic and unconfident.

I own nearly 2/5 of Cognitive

Investing the funds back in your CD is a bit incestuous too!  Kluge invests in Cognitive. Cognitive invests in Kluge.

In case anyone misunderstands, I'm just stirring.  A lot of big listed companies have cross holdings. I'm not currently a Cognitive investor, but I think BDK is as good a place as any for funds not immediately required.

Clearly Kluge and Cognitive both should invest in DMC

[investr]

Exactly! It's counter-intuitive to invest in another mining operation unless they are doing something vastly different (think what's the differentiation or competitive advantage). You'd be better off investing in the race horse to avoid a conflict of interest. Buying more hardware (or saving for it) or buying back shares might make more sense then. Definitely needs some more discussion.