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Author Topic: Starting a new FPGA mining farm/contract! Cognitive Resurrected on[Havelock]  (Read 274476 times)
lunarboy
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March 21, 2014, 07:48:41 AM
 #2501

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Shareholders:

As you know, there has been much panic and distress regarding the downtime of the new hardware. This is currently my number one priority, and I am working with multiple other parties to get the entirety of our hardware online within seven days. It is not a question; It will be online within this time frame.

I am going to do my best to remedy this downtime, and forfeit my dividends for all of April, and forward these proceeds to shareholders.

Many people are frustrated and simply want out, which is understandable. To prove that I am not going to force anyone any which direction, I am raising a motion that, if passed, will allow people on a case by case basis to liquidate the equivalent hashpower to the percentage of Cognitive they own. Current Inventory of all hardware is here: http://cognitivemining.com/

If you want to get out of Cognitive, this will be the most fair way to do it. Instead of dumping shares on the open market Cognitive's inventory and outstanding share count will decrease proportionally, therefore only very minimally effecting other shareholders (the only effect being decrease of the growth rate of the growth fund).

I believe providing this option will positively influence the future of Cognitive, because everyone will get what they want, whether it is to stay or leave.

Motion Start Date: 3-20-2014
Motion End Date: 3-27-2014 8:00 PM PST (GMT -7)

Motion Terms:
- Refer to the most recent revision of the contract: http://cognitivemining.com/contract.html

Liquidation Terms:
- As always, one share = one vote
- If over 90% of votes are to liquidate their hardware, all of Cognitive's assets will be liquidated.
- If under 10% of votes are to liquidate their hardware, none will be liquidated.
- Shareholders have the option to liquidate 50% of owned shares.
- Cognitive will do it's best to sell hardware for the highest price possible while maintaining the goal of selling within one week, so as to provide a quick turnaround for those wishing to liquidate.

Something that should only be shared among shareholders: Soon, we will have the option to purchase in-stock hardware from Hashfast for under $3 per gh. We will Never send them money for hardware not being shipped the same day.

The forum is increasingly bloated so I will be making all important announcements via email.

As previously implied, things will be getting increasingly better for Cognitive after this hardware gets online, and those who want out can easily liquidate their hardware.

Please reply to vote with the following format and we will take care of the rest:

Motion: YES/NO
Liquidate: YES/NO

Best regards, and my sincere apologies,
Garrett
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elasticband
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March 21, 2014, 07:52:27 AM
 #2502


where is the motion?

Read the email thoroughly please.



You missed out answering the part where i ask you if you are for real ?
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March 21, 2014, 07:56:23 AM
 #2503

can we as shareholders have transcripts of your conversations with cointerra regarding our faulty machines and our compensation?
jimmothy
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March 21, 2014, 07:59:57 AM
 #2504

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Something that should only be shared among shareholders: Soon, we will have the option to purchase in-stock hardware from Hashfast for under $3 per gh. We will Never send them money for hardware not being shipped the same day.

Correct me if I'm wrong but this sounds a lot like you are getting a significant discount along with skipping all the thousands of hashfast preorder customers who have yet to receive their hardware.

Even with supposed discounts it is still not a good deal because by the time hashlast ships asicminer/knc/spondoolies will be releasing next gen hardware that makes 1w/gh obsolete.
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March 21, 2014, 08:02:15 AM
 #2505

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I am going to do my best to remedy this downtime, and forfeit my
dividends for all of April, and forward these proceeds to shareholders.


You are due cognative a lot more than just your April dividends.

If we got all hardware online for april i would say you would need to forfiet around 130% of the divs to make up for lost revenue this month.


How do we as shareholders know that the votes are handled correctly, how do we know you won't just publish the answer you prefer?

Garr255
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March 21, 2014, 08:08:20 AM
 #2506


I don't know how feasible it would be for Garr, but maybe he could pay his investors the equivalent they would have earned in a hypothetical situation with no fuckups on Garr's part.

I am going to come as close to doing this as I can.

“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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March 21, 2014, 08:09:22 AM
 #2507


where is the motion?

Read the email thoroughly please.



You missed out answering the part where i ask you if you are for real ?


Yes this is correct.

“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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March 21, 2014, 08:13:31 AM
 #2508

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I am going to do my best to remedy this downtime, and forfeit my
dividends for all of April, and forward these proceeds to shareholders.


You are due cognative a lot more than just your April dividends.

If we got all hardware online for april i would say you would need to forfiet around 130% of the divs to make up for lost revenue this month.


How do we as shareholders know that the votes are handled correctly, how do we know you won't just publish the answer you prefer?

People will be able to collaborate here, and if the totals don't make sense it will be obvious.

The first vote that came in was a Motion: NO Liquidate: NO

“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!
snowdropfore
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March 21, 2014, 08:16:48 AM
 #2509

what is going on??? i vote for no and no.we should keep going and hashing,otherwise we will never get our bitcoin back.
elasticband
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March 21, 2014, 08:21:40 AM
 #2510

i vote no and no just to keep garr as a worker slave  Kiss

 you will make this right, you will devote all your precious time to it, or you will be held accountable for your actions or lack of.....
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March 21, 2014, 08:23:30 AM
 #2511

garr ,do your best, and i think you will  make a good choice
Garr255
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March 21, 2014, 08:24:40 AM
 #2512

i vote no and no just to keep garr as a worker slave  Kiss

 you will make this right, you will devote all your precious time to it, or you will be held accountable for your actions or lack of.....

garr ,do your best, and i think you will  make a good choice

Well thanks for your faith in this operation guys, I am going to make things right.

“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!
elasticband
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March 21, 2014, 08:25:29 AM
 #2513

garr, how do you feel about your relationship with cointerra?

how do you feel about your incompetence letting your shareholders down?

how do you feel about all this hatred toward you?
Garr255
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March 21, 2014, 08:27:58 AM
 #2514

garr, how do you feel about your relationship with cointerra?

how do you feel about your incompetence letting your shareholders down?

how do you feel about all this hatred toward you?

I know this hatred is here because of things that went wrong but were ultimately in my own control. I am going to work my ass off to make things right.

My relationship with Ravi (CoinTerra CEO) is great, he wants Cognitive to succeed and has agreed he'd like to keep making deals with us for the long run.

“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!
elasticband
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March 21, 2014, 08:28:48 AM
 #2515

you have 7 days boy. I suggest cognitive raises a motion to use part of reinvestment fund to seek legal action against the management personal of this fund. this will be used if you fail to put your words into action, once again.

I would suggest an amount get transferred away from managements hands now and held with a trust worthy forum escrow, in case the sittuation arises the shareholders need to seek legal action.

Doe garr agree?
elasticband
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March 21, 2014, 08:29:28 AM
 #2516

can we as shareholders have transcripts of your conversations with cointerra regarding our faulty machines and our compensation?
Garr255
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March 21, 2014, 08:30:50 AM
 #2517

can we as shareholders have transcripts of your conversations with cointerra regarding our faulty machines and our compensation?

Yes, use this post as my approval and feel free to ask them for their records.

“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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March 21, 2014, 08:32:39 AM
 #2518

you have 7 days boy. I suggest cognitive raises a motion to use part of reinvestment fund to seek legal action against the management personal of this fund. this will be used if you fail to put your words into action, once again.

I would suggest an amount get transferred away from managements hands now and held with a trust worthy forum escrow, in case the sittuation arises the shareholders need to seek legal action.

Doe garr agree?

Legal action will not be productive in this case, we should see what happens in the next seven days. I'm happy to go so far as resign and hand this off to someone deemed more capable if this does not work out; that is my confidence level here.

“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!
elasticband
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March 21, 2014, 08:47:18 AM
 #2519

Garr255
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March 21, 2014, 08:49:57 AM
 #2520

The hosting for these units was going to be piggybacking on a larger hardware order from hashfast that ineededausername and I coordinated. The 1 megawatt facility hasn't been paid for yet because the hardware hasn't arrived, therefore we are not able to piggyback on this other order's facility and are scrambling for another. It is my fault for not preparing a plan B, and it is Hashfast's fault for not delivering in November when they were supposed to, and instead of saying how much longer it will actually take, followed the BFL model and kept saying "A little longer".

“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!
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