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

[Garr255]

Actually, the first thing I considered was buying back shares with extra capital, but I thought it would be better for the GLBSE economy to reinvest into others. I will raise a few motions soon regarding the extra funds, the one with the best yes/no ratio will be put in to effect.

Are there any other suggestions?

[friedcat]

Actually, the first thing I considered was buying back shares with extra capital, but I thought it would be better for the GLBSE economy to reinvest into others. I will raise a few motions soon regarding the extra funds, the one with the best yes/no ratio will be put in to effect.

Are there any other suggestions?

I would suggest 1-2 additional GPUs, or collect a little more BTC to buy another FPGA board.

[TheSeven]

Actually, the first thing I considered was buying back shares with extra capital, but I thought it would be better for the GLBSE economy to reinvest into others. I will raise a few motions soon regarding the extra funds, the one with the best yes/no ratio will be put in to effect.

Are there any other suggestions?

I think I'm fine with four options:
1. Just make it fit by buying more hardware
2. Invest in something like Kluge's deal above until you can make use of the coins
3. Buy back some shares with these funds (might complicate matters)
4. Pay it as a dividend

[Bitsinmyhead]

4. Pay it as a dividend

100% fair and very simple. Just do this.

[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

For what it's worth -- when I look at a mining company to invest in one of the big things is how they use the capital they already have and the capital they have raised. Of course a startup like DMC is different, but if a mining company with existing hashpower issues funds and ends up buying and holding assets of another miner over a long term basis, while this does in fact reduce risk it lowers the return on capital because the miner is paying another miner to mine and that second miner has to be profitable before paying out.

So what I like to see in a miner is that they use the capital they are given to do what they said they would do. Now, if someone has 100 bitcoins left over from buying a single, no one said they have to let the shares sit there. But it's a little alarming to see mining companies buying up shares of each other and then using that income to pay dividends on existing shares. In that case, what about buying back the shares so the existing shares are backed entirely by the GHash of the farm?

Doing that is what I would consider as the natural course of operation for any miner issuing shares for expansion.

Not trying to tell anyone what to do just giving a suggestion.

Well, thats the thing. DMC is different, and I'm just holding the bonds as a way to make money not sit. Buying small scale hardware just isn't worth it, and buying hardware now that 28nm could be here in 6 months isn't worth it either. Paying the premium isn't so bad: small scale purchases plus the wait of shipping plus the cost of residential electricity, I'm going to be in the lower 0.50s of mh/$, and the bonds in the long term are going to be putting me in the upper 0.40s. Its not that big of a difference.

[Garr255]

GPUs aren't an option, because when the reward halves I'd be operating at a loss.

I will raise motions for all the other options.

[stabs]

1174 shares to go?

[Garr255]

1174 shares to go?

Yup, between your and BeesBros' preorders it got down to that.

[stabs]

I'm suprised the rest of the shares haven't sold, I know shares were diluted by another 1400 but it's twice the hash power.  If everyone was willing to purchase at .5, purchasing at .6 for double the hash with 1400 more diluted shares seems much more attractive.

Everyone must be investing in PPT.

[Garr255]

Someone just bought out the rest of the offering.

Dividends this week will be a little low as well, because eligius isn't keeping up with payouts properly: http://eligius.st/~artefact2/7/1DfGiAHbW1jV8i4ZRcFpR6CGRkWnmdYdFb
Rest assured next week's dividends will compensate for this.

Motions will be raised soon regarding what to do with these funds before we are allowed to purchase the new boards.

[Garr255]

Today we are going to start moving funds over to USD, which the company we will be purchasing the boards from accepts.

I will continue to keep the website updated with the most recent transactions and holdings.

If anybody is interested in Dwolla --> BTC, Cognitive is selling!

[Garr255]

I just switched out cluster over to P2Pool via P2Pmining.com

Eligius is still behind on their payouts. http://eligius.st/~artefact2/7/1DfGiAHbW1jV8i4ZRcFpR6CGRkWnmdYdFb

[Garr255]

100btc of our funds have been sold to an investor who is going to put them right back into Cognitive

Sold 400 to alexmat. Very easy transaction.

[TheSeven]

I just switched out cluster over to P2Pool via P2Pmining.com

Looks like we have some stats over here then: http://p2pmining.com/?method=miner&data=19yYGCtVSoGTLjFQCe2BSfaXWhDxskozfg

How is this p2pool over the internet construct working stale-wise? I'd estimate a return of just 90%PPS with this setup.

What was wrong with Clipse/GPUMAX? I'll happily help nailing any issues down

[Garr255]

I just switched out cluster over to P2Pool via P2Pmining.com

Looks like we have some stats over here then: http://p2pmining.com/?method=miner&data=19yYGCtVSoGTLjFQCe2BSfaXWhDxskozfg

How is this p2pool over the internet construct working stale-wise? I'd estimate a return of just 90%PPS with this setup.

What was wrong with Clipse/GPUMAX? I'll happily help nailing any issues down

We're only getting 3% stales, so the shouldn't be significant.

Clipse accepted about 500 shares then they were all rejected after that. GPUmax never got the work properly and never attempted submitting a share.

I'll hop on #mpbm. Ultimately I'd like to have GPUmax/Clipse as the main work source then a p2pool fallback.

[Garr255]

Switched back to Clipse, all is working well. We now have

Stats at http://bonuspool.co.cc case sensitive username Cognitive.

Now mining at GPUmax with Clipse at its backup. Then as backups we have Clipse, P2Pool, and Eligius.

[Vernon715]

I hope this works out well

[PolymorphicAssasin]

Subscribalicious.  I own 1 whole share.

[Garr255]

Subscribalicious.  I own 1 whole share.

Haha, I remember purchasing my first share of FPGA.contract on GLBSE 1.0...

That was really exciting for me. I do think GLBSE 1.0 was cooler, but 2.x is great because of its ability to allow not so tech savvy investors to join ultimately increasing liquidity.

Anyway, thanks for investing!

[petermeuris]

Q: Why has the hashrate dropped from 7000MH/s to 3000 MH/s ?
(as found http://eligius.st/~artefact2/7/1DfGiAHbW1jV8i4ZRcFpR6CGRkWnmdYdFb)