Bitcoin Forum
December 03, 2016, 12:32:07 AM *
News: Latest stable version of Bitcoin Core: 0.13.1  [Torrent].
 
   Home   Help Search Donate Login Register  

Warning: Moderators do not remove likely scams. You must use your own brain: caveat emptor. Watch out for Ponzi schemes. Do not invest more than you can afford to lose.

Pages: « 1 ... 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 [131] 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 158 »
  Print  
Author Topic: Starting a new FPGA mining farm/contract! Cognitive Resurrected on[Havelock]  (Read 274429 times)
robitnik
Jr. Member
*
Offline Offline

Activity: 42


View Profile
March 24, 2014, 09:15:15 PM
 #2601

Two questions.

1) What is the situation with Havelock? Nevermind. Answered above.

2) What will our final hashrate be after CoinTerra has delivered everything including the 1% per day deal?
1480725127
Hero Member
*
Offline Offline

Posts: 1480725127

View Profile Personal Message (Offline)

Ignore
1480725127
Reply with quote  #2

1480725127
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1480725127
Hero Member
*
Offline Offline

Posts: 1480725127

View Profile Personal Message (Offline)

Ignore
1480725127
Reply with quote  #2

1480725127
Report to moderator
jimmothy
Hero Member
*****
Offline Offline

Activity: 770



View Profile
March 24, 2014, 09:47:31 PM
 #2602

Are you going to address the issue regarding hashfast?

Yes: Cognitive Mining (The corporation involved in this company) is in no way affiliated with Hashfast and never will be without raising a motion.

Cognitive (A separate entity) is one controlled by me and is involved in deals with Hashfast. This does not effect Cognitive Mining or Cognitive Mining shareholders whatsoever.

I apologize for the confusion that comes from the similar names.

The hardware (eight Terraminers) is en route to the Canadian datacenter with a scheduled arrival time of Wednesday at 12pm EST.

Best,
Garrett

Just to be clear, you are using your own personal funds to bail out hashfast and any profits from this venture will not go to cog shareholders correct?

Correct. Cognitive Mining is not in anyway involved with Hashfast.

Thanks for clarification.

Are you aware that dragonminers and spondoolies are both $3/gh and 0.9w/gh at the wall for complete miners?

And you are charging $4.3/gh for a preorder of an incomplete miner that gets 1.2w/gh at the wall.
theterabyte
Member
**
Offline Offline

Activity: 118


View Profile
March 25, 2014, 06:49:53 AM
 #2603

So that is some interesting info about the hashfast thing.  I'm very concerned about that.  I believe Garr when he says this is a separate venture, but if Joe Entrepeneur owns Business A and Business B, the massive failure of Business B *could* impact Business A (and vice versa).  I understand why people are concerned.  Now there is Cognitive, Cognitive Mining, and FIMB all in-flight (any more?  If so, you should disclose them in case anyone else on this thread, like myself, doesn't follow the forums closely).

I think these are ok for now, but it is important for Cognitive Mining investors to understand these added risks due to your obligations and involvement with these other companies, separate though they are.

In other news, I've signed the Cognitive Mining NDA and Garrett has shared some documents with me.  I can tell you that I have viewed the contract for the data center space to run our machines.  It has Garrett's name on it, is priced in USD (but payable in BTC at the current exchange rate at http://bitcoinaverage.com/#USD), is in a location where power is likely to be very.  I don't have time to go figure out what the numbers mean, however, so if anyone can comment on how good ~$270/kWh/month is, that's what we've got.  Additionally, the contract specifies we pay for actual usage, not projected or total capacity, which is good.  Emergency support work is available for $100/hr, which seems reasonable should something explode.  Hopefully we won't need that of course =)

The contract required a down payment of ~8k to make it happen, and we all know garrett is running around like a headless chicken to make this happen, so I understand why he had to use COG funds for this.  If the motion fails, however, Garrett should pay back the funds to the reinvestment fund over time, as he is able.  We'll have to follow up about that later.  I believe he made that decision at the time trying to do the best thing for cognitive.

I have also viewed the contract with CoinTerra and I can confirm it is short and sweet.  The two main holes in the wording are:

1. The 30-days 30% thing (does that mean 0% after 29 days and 30% at 30 days, and 30% at 59 days and 60% at 60 days?  or 1% for each day)
2. Is "lateness" defined by the delivery of the first unit, or the last unit?

It sounds like Garrett has already gotten CT to commit to the reading of this document in our favor - and I think it is reasonable to presume that was the intent of the document (#2 is a stronger case for our favor than #1, but I think both could be argued if it came down to it).

I will continue to keep you guys up to date as more documents are shared with me, as much as I can do so within the confines of the NDA.  The cointerra NDA itself, for example, cannot be shared with me (which is weird, but having seen the contract between cog and CT, I don't see any reason to need the CT NDA itself).

It is my belief that none of the above information constitutes a violation of the NDA I signed with Cognitive Mining in order to view these documents, and furthermore, the only new piece of information I've revealed (besides to confirm what has already been said) is the price we are getting for power, which, in not revealing, would open the operators of Cognitive up to accusations of insider trading, so I am confident that is not a problem.

My Bitcoin Tip Jar: 11Ws5nzwy44cMcymu6ddRxdp9uvDonNqB
jimmothy
Hero Member
*****
Offline Offline

Activity: 770



View Profile
March 25, 2014, 07:14:16 AM
 #2604

if anyone can comment on how good ~$270/kWh/month is, that's what we've got. 

That's pretty bad actually. $270/month/kwh = $0.375/kwh

Compare that to other industrial scale mining operations which will get around $0.01-0.05/kwh
elasticband
Legendary
*
Offline Offline

Activity: 966


Nighty Night Don't Let The Trolls Bite Nom Nom Nom


View Profile
March 25, 2014, 07:16:42 AM
 #2605

if anyone can comment on how good ~$270/kWh/month is, that's what we've got. 

That's pretty bad actually. $270/month/kwh = $0.375/kwh

Compare that to other industrial scale mining operations which will get around $0.01-0.05/kwh

This cannot be right.

I Live in the Netherlands, which is bloody expensive and i pay around $0.33/kwh. paying $0.045 more than i do is not cheap power.
superresistant
Legendary
*
Offline Offline

Activity: 1316



View Profile
March 25, 2014, 07:23:44 AM
 #2606

if anyone can comment on how good ~$270/kWh/month is, that's what we've got. 
That's pretty bad actually. $270/month/kwh = $0.375/kwh
Compare that to other industrial scale mining operations which will get around $0.01-0.05/kwh

This can't be exact. If the price is that high, it must include air conditioning cooling (which would be perfect for the CT hardware).

theterabyte
Member
**
Offline Offline

Activity: 118


View Profile
March 25, 2014, 10:50:19 AM
 #2607

Ah yes, if I read the contract correctly that includes cooling.  I seem to remember hearing the figure that 60% of a data center's power usage goes into cooling.  I am sure that is highly variable depending on the layout and cooling techniques used at the data center, of course.

My Bitcoin Tip Jar: 11Ws5nzwy44cMcymu6ddRxdp9uvDonNqB
CMMPro
Hero Member
*****
Offline Offline

Activity: 574



View Profile
March 25, 2014, 11:00:44 AM
 #2608

You do know that NDA stands for "Non-disclosure agreement" right?



odin.dillinger
Jr. Member
*
Offline Offline

Activity: 42


View Profile
March 25, 2014, 11:06:51 AM
 #2609

You do know that NDA stands for "Non-disclosure agreement" right?







Lol. I was thinking the same. But then again, now I dont have to sign the NDA. Haha
jimmothy
Hero Member
*****
Offline Offline

Activity: 770



View Profile
March 25, 2014, 11:46:18 AM
 #2610

if anyone can comment on how good ~$270/kWh/month is, that's what we've got. 
That's pretty bad actually. $270/month/kwh = $0.375/kwh
Compare that to other industrial scale mining operations which will get around $0.01-0.05/kwh

This can't be exact. If the price is that high, it must include air conditioning cooling (which would be perfect for the CT hardware).


Why does it matter what is using the electricity?
cedivad
Legendary
*
Offline Offline

Activity: 1106



View Profile
March 25, 2014, 11:56:51 AM
 #2611

The cooling costs are usually included in the kW costs you have.
That being said, it's rare for a modern datacenter to have PUE > 1.1 (10% of power costs goes to cooling, lights, etc)
Posted from Bitcointa.lk - #nwMHE0fNQbYG7Goi

My anger against what is wrong in the Bitcoin community is productive:
Bitcointa.lk - Replace "Bitcointalk.org" with "Bitcointa.lk" in this url to see how this page looks like on a proper forum (Announcement Thread)
Hashfast.org - Wiki for screwed customers
superresistant
Legendary
*
Offline Offline

Activity: 1316



View Profile
March 25, 2014, 12:27:37 PM
 #2612

The cooling costs are usually included in the kW costs you have.
That being said, it's rare for a modern datacenter to have PUE > 1.1 (10% of power costs goes to cooling, lights, etc)
Posted from Bitcointa.lk - #nwMHE0fNQbYG7Goi

But not all datacenter are modern I suppose.
50-60% is what use a classic datacenter.

Why does it matter what is using the electricity?

Electricity is important to run the hardware longer. Until energy usage > gain.
Cooling is decisive to run CT hardware. If it get a bit hot, some machines shut-down.

trek27
Full Member
***
Offline Offline

Activity: 171


View Profile
March 25, 2014, 04:07:41 PM
 #2613

We are working closely with Cognitive to find a quick resolution.

Thank you,

Havelock Investments


I think COG trading should be re-opened. Actually halting wasn't really explained.
As for COG transparency: a month ago it was more or less the same as it is today.

If Havelock knows something more then they should make it public and allow people to get out or in based on everyone's own judgement.
 
Tafelpoot
Full Member
***
Offline Offline

Activity: 191


View Profile
March 25, 2014, 04:08:30 PM
 #2614

We are about to put 30+ TH/s at 1.2 kW/TH/s = 36 kW of hardware in a data center at $0.375/kWh ... we suddenly have to pay 9k usd = 15 btc monthly while earning less than 1 btc a day... the 1cogxX mined only 24.8 btc over the last 4 months.

The difficulty is now almost 5B. At a difficulty of 25B, we are running at a loss. This will happen most likely in about 5 to 7 months.
We need to have the coming 16 difficulty jumps to be below 11% on average in order to achieve a positive ROI in terms of USD ... while chances are quite non-existing that we break-even in terms of btc.

Garrett would you be willing to be responsible for the mining part, while leaving the management part to someone else?
You were still not able to give a detailed and provable overview of the expenses and income of the last 6 months and a lot of bitcoins seem to be missing in the fund.
Some external person could produce new 1cog adresses for you to put the miners to and take care of issuing the dividends.
While it doesn't protect cognitive from you pointing the miners to personal addresses, it does safeguard the reinvestment fund from you using it for personal loans (FIMB) and other projects (HF bailout).
I'd be willing to do this and even put some of my own btc with a reputable escrow to show that I wouldn't just run away with the funds.

You have neglected Cognitive at the cost of 100s of btc in market cap and also more than 100 btc in mining revenue (50 btc in October and 50+ btc last 2 months).
What are you going to do to make up for this? Your future dividends mean little to me if we have to base our estimates on that amount on the past. There is little incentive for you to hurry up if you're about to give away your gains anyway... I want fixed numbers with double/triple digits instead of 4 weeks x 20 pct (your shares) x 2 btc ...

You bailout HashFast but you'd better bailed out Cognitive and FIMB.
investr
Full Member
***
Offline Offline

Activity: 222


View Profile
March 25, 2014, 05:01:24 PM
 #2615

I was involved in funding a project last summer where $25,000 was lost

Double that and put me on salary. I bet I can run the other half of that CT order.

Successful transactions: http://pastebin.com/GM27Ju59
robitnik
Jr. Member
*
Offline Offline

Activity: 42


View Profile
March 25, 2014, 05:18:14 PM
 #2616

We are about to put 30+ TH/s at 1.2 kW/TH/s = 36 kW of hardware in a data center at $0.375/kWh ... we suddenly have to pay 9k usd = 15 btc monthly while earning less than 1 btc a day... the 1cogxX mined only 24.8 btc over the last 4 months.

The difficulty is now almost 5B. At a difficulty of 25B, we are running at a loss. This will happen most likely in about 5 to 7 months.
We need to have the coming 16 difficulty jumps to be below 11% on average in order to achieve a positive ROI in terms of USD ... while chances are quite non-existing that we break-even in terms of btc.

I was under the impression that the current ($0.375/kWh) place was temporary (renewed on a monthly basis) just to get our current hardware running in the short term. When a permanent and, hopefully, cheaper data center is organized, we move the hardware there. Am I wrong?


...
Some external person could produce new 1cog adresses for you to put the miners to and take care of issuing the dividends.
While it doesn't protect cognitive from you pointing the miners to personal addresses, it does safeguard the reinvestment fund from you using it for personal loans (FIMB) and other projects (HF bailout).
I'd be willing to do this and even put some of my own btc with a reputable escrow to show that I wouldn't just run away with the funds.
...

A multisig 2-of-3 could be useful here. Funds are mined to the address and it takes 2 of 3 "directors" to agree on where to send it. Of course, we're still left with the problem of finding people who won't collaborate to run off with the funds.
silverfuture
Hero Member
*****
Offline Offline

Activity: 863


central banking = outdated protocol


View Profile
March 25, 2014, 05:44:33 PM
 #2617

Is the Cointerra still mining at 1.6TH? After about 20 days, mine is only mining at 1.2 and after the upgrade to the latest firmware (7.6), it decreased to below 1.2.  Many in the forum complain about the same problem.

We were running at ~1.6TH/s up until I updated the firmware.  After the firmware upgrade (which from what I can tell lowers the temp limit to 76 degrees from 83 degrees) our machine is throttling like crazy, even in cool ambient temperatures.  The result was a decrease in hashrate down to <1TH/s.  I've just finished downgrading to the prior firmware.  It would be an understatement to say that CoinTerra didn't live up to expectations.  I'm very glad we only have one of these rigs to deal with. 

some confirmation of the difficulty in running the CT hardware.

-----------------------------------------------------------------------------------------------------------------------
NastyFans - The Fan Club for Bitcoin Enthusiasts | MININGCOINS | POOL | ESCROW
-----------------------------------------------------------------------------------------------------------------------
superresistant
Legendary
*
Offline Offline

Activity: 1316



View Profile
March 25, 2014, 06:32:15 PM
 #2618

Is the Cointerra still mining at 1.6TH? After about 20 days, mine is only mining at 1.2 and after the upgrade to the latest firmware (7.6), it decreased to below 1.2.  Many in the forum complain about the same problem.
We were running at ~1.6TH/s up until I updated the firmware.  After the firmware upgrade (which from what I can tell lowers the temp limit to 76 degrees from 83 degrees) our machine is throttling like crazy, even in cool ambient temperatures.  The result was a decrease in hashrate down to <1TH/s.  I've just finished downgrading to the prior firmware.  It would be an understatement to say that CoinTerra didn't live up to expectations.  I'm very glad we only have one of these rigs to deal with.  
some confirmation of the difficulty in running the CT hardware.

I hope Garrett read the firmware feedback before changing the firmware.

I just had a great plan :
We put Garrett in jail, take the hardware (and Garrett shares), dispatch it through all members that are competent in mining, mine at a common address, distribute 100% of the profit proportionally and everyone is happy ?

investr
Full Member
***
Offline Offline

Activity: 222


View Profile
March 25, 2014, 06:33:09 PM
 #2619

Isn't that what a co-op is?

Successful transactions: http://pastebin.com/GM27Ju59
Garr255
Legendary
*
Offline Offline

Activity: 952


What's a GPU?


View Profile
March 25, 2014, 08:28:35 PM
 #2620

Hey, I just want to clear some things up.

I have not bailed out HashFast. I do not have the funds necessary to do this.

Eight additional units are scheduled to come online this week in the Canadian datacenter.

This will put our total hashrate just below 20th/s.

Three additional units will be shipped from CoinTerra this week, putting our hashrate at ~22th/s.

I have spoken with havelock and they have a very fair approach to resuming trading. Once the hardware comes online this week, they will make an announcement 24 hours in advance and then resume trading. I am confident that share price will regain value when this happens. Dividends are scheduled to resume the Monday after trading, which should be 31 March.

I and the folks at the Canadian datacenter are preparing everything to ensure a smooth transition and to get the hardware online within an hour of it arriving.

“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!
Pages: « 1 ... 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 [131] 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 158 »
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!