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Author Topic: Starting a new FPGA mining farm/contract! Cognitive Resurrected on[Havelock]  (Read 274431 times)
Garr255
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April 04, 2014, 01:17:41 AM
 #2861


Why is it even an option to liquidate and shut down?

Where is the option for liquidate and switch to a better datacenter+better hardware?

That would only be wise for in hand hardware. Any waiting around would be very costly.
The data center is a big part of the problem but the exchange rate is the killer.

At $270/kWh/month running 1 unit at 1.6 TH/s costs ~ $540. At today's rate, that is 1.2 BTC
At a difficulty of 6 billion (next 2 weeks) and 7.2 billion (the following 2 weeks) that miner will produce 3.44 BTC.
This leaves us with a profit of 2.24 BTC per unit for the next month.

If the exchange rate goes up or we can find cheaper hosting, Cognitive would be in a better position.
In the slightly longer term, reinvestment is going to be the decider (court cases and pissing contests not withstanding).

If we had deployed 30 TH/s on Feb. 18th (when the first CT machines arrived), over the course of three months we would have paid an average weekly dividend of 1.3 mBTC per share and had over 200 BTC available for reinvestment. Now we only have ~20 TH/s with ~10 TH/s waiting for delivery. Recovering from Cognitive's current position is going to be tricky.

Thanks for your maths here. I know Cognitive can pull out of this and I will push for the remainder of the units to ship out tomorrow and next week.

Also your calm approach is appreciated. I wish everyone could be rational and discuss things in such a matter.

Best,
Garrett

“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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Garr255
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April 04, 2014, 01:20:35 AM
 #2862

And Goat: Still waiting on you to accept my bet for BTC25. I really could use that kind of money!

Thanks,
Garrett

Edit: I did advise him to go on a run to release stress; hopefully he did and will come back with a rational and mature attitude.

I'm going to go off the forum now and try to actually make progress with Cognitive.

Todo list for the evening:
-Pay dividends
-Gather receipts for hosting expenses ever since I started paying for them out of pocket
-Arrange shipping of our remaining TerraMiners
-And finally, enjoy the view. Life is a beautiful thing that I think we all should take some time to appreciate Smiley

“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!
MilkyLep
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April 04, 2014, 01:23:09 AM
 #2863

A detailed expense report will be given for these expenses before payment is spent.

Will it also be accompanied by the financial reports you promised last year?

Either you own the bitcoins(private keys) or you don't. However with moneroj, nobody knows what you own.
Secure. Private. Untraceable.
snowdropfore
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April 04, 2014, 01:24:18 AM
 #2864


Why is it even an option to liquidate and shut down?

Where is the option for liquidate and switch to a better datacenter+better hardware?

That would only be wise for in hand hardware. Any waiting around would be very costly.
The data center is a big part of the problem but the exchange rate is the killer.

At $270/kWh/month running 1 unit at 1.6 TH/s costs ~ $540. At today's rate, that is 1.2 BTC
At a difficulty of 6 billion (next 2 weeks) and 7.2 billion (the following 2 weeks) that miner will produce 3.44 BTC.
This leaves us with a profit of 2.24 BTC per unit for the next month.

If the exchange rate goes up or we can find cheaper hosting, Cognitive would be in a better position.
In the slightly longer term, reinvestment is going to be the decider (court cases and pissing contests not withstanding).

If we had deployed 30 TH/s on Feb. 18th (when the first CT machines arrived), over the course of three months we would have paid an average weekly dividend of 1.3 mBTC per share and had over 200 BTC available for reinvestment. Now we only have ~20 TH/s with ~10 TH/s waiting for delivery. Recovering from Cognitive's current position is going to be tricky.

Thanks for your maths here. I know Cognitive can pull out of this and I will push for the remainder of the units to ship out tomorrow and next week.

Also your calm approach is appreciated. I wish everyone could be rational and discuss things in such a matter.

Best,
Garrett
i just want to confirm one thing,get the machines hashing asap. and i think CT should ship us additional machines due to their delay. hope all of us can get out of this mass. i invest 10B into this ,i do not want to lost everything.
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April 04, 2014, 01:26:48 AM
 #2865

I'm a small investor but I too would like to see an end to this drama (and NOT an end to COG).

I don't understand why we are selling the units for cents in the dollar and issuing a dividend, this whole thing seems bizarre to me.
Yes, the datacenter thing sounds like a bad deal for COG, I personally would like to see the full details of this agreement from Garrett with a breakdown of what it means for those of us non-technically minded.

And that - aside from all the delays, which lets face it we all hate but it happens at EVERY company and especially at those with only one person running the show - looks to me like the only mistake Garr made here (maybe the extra units which were unopened at another datacenter is on him aswell?).

I think a lot of people here need to chill, and especially Goat, I really wish that little princess would leave this thread in peace...
investr
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April 04, 2014, 01:26:53 AM
 #2866

It's just universally stupid to dump shares in the middle of a motion and expect those votes that no longer exist to count for some reason.

If you're going to take someone to court then do it, stop being an immature drama queen on the forums. If you want to make a bet then do it and don't complain that it is 20BTC instead of 200BTC. If you are 100% confident in being right then a win is a win.

For all the bashing on Garrett about being all talk and no execution, I can say it has been even more of a nuisance reading Goat's pages upon pages of melodrama that have done nothing but distract from meaningful discussion to get things done.

Thank you investr for your calm approach. I really can't believe someone probably twice my age is half as mature.

I will look back in the Goat drama of the past few minutes and quote then respond to the meaningful posts, I saw a few in there.

I'm hardly calm, just tired of the bullshit. Including yours, Garrett. I don't quite feel like it has sunk in for you that you have lost many people thousands of dollars. If anything, it should be you that's as emotional as Goat is right now. I know I would feel terrible in your position, and do anything I could to rectify it.

So I'll leave the discussion tonight with one open-ended question, since you have not been very good at answering specific ones lately:

How are you going to recoup the several thousand dollars I have lost?

Successful transactions: http://pastebin.com/GM27Ju59
El Cabron
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April 04, 2014, 01:29:54 AM
 #2867

http://oi62.tinypic.com/2e1ykwo.jpg

As you requested I removed the tracking. Fair enough.

However if you claim this is faked I hold the right, as we agreed to, to forward this e-mail to anyone who asks.

Sorry El Cabron, you are banned from posting or sending personal messages on this forum.
Trolling
https://bitcointalk.org/index.php?topic=622250.msg7030081#msg7030081
investr
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April 04, 2014, 01:34:49 AM
 #2868

http://oi62.tinypic.com/2e1ykwo.jpg

As you requested I removed the tracking. Fair enough.

However if you claim this is faked I hold the right, as we agreed to, to forward this e-mail to anyone who asks.

Without tracking I don't see what is relevant. Can you elaborate on what this picture shows?

Successful transactions: http://pastebin.com/GM27Ju59
El Cabron
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April 04, 2014, 01:38:09 AM
 #2869

http://oi62.tinypic.com/2e1ykwo.jpg

As you requested I removed the tracking. Fair enough.

However if you claim this is faked I hold the right, as we agreed to, to forward this e-mail to anyone who asks.

Without tracking I don't see what is relevant. Can you elaborate on what this picture shows?

When Garr was shipped the units from CT. As he did not want the tracking posted that is fine for privacy reasons as long as he does not say that this is fake and he admits the document is correct I will not post the tracking numbers. However if I need to prove that this is not fake I am willing to do so.

Edit: I'm only post this because I guess the document was not understandable with out the context. I really do not want to take part in this thread anymore unless you have direct questions like this to me. I'm pretty much over trying to improve Cog or get Garr to do his job.

Sorry El Cabron, you are banned from posting or sending personal messages on this forum.
Trolling
https://bitcointalk.org/index.php?topic=622250.msg7030081#msg7030081
Garr255
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April 04, 2014, 01:38:57 AM
 #2870

How are you going to recoup the several thousand dollars I have lost?

I am going to do the very best I can to restore Cognitive to a state where it is earning everyone money again and we are all in the positive.

“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!
El Cabron
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April 04, 2014, 01:43:01 AM
 #2871

I originally voted against liquidation but I am inclined to change my vote (given the recent "mathing" - which though I haven't verified, looks legit).  Garr, Sam, if you have a counter-argument to "300BTC versus 50BTC", you should post it now, or expect a flood of vote changing. =/


Garrett agrees with the math. Assuming these calculations are correct, it seems that our best option is to liquidate. Garrett is going to post the current results of the motion on the Cognitive Mining website tonight.

More updates to come.

- Samuel



When this was posted I had well over 225 shares. The motion was closed. I had every reason to expect it was closed.

Sorry El Cabron, you are banned from posting or sending personal messages on this forum.
Trolling
https://bitcointalk.org/index.php?topic=622250.msg7030081#msg7030081
MilkyLep
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April 04, 2014, 01:44:19 AM
 #2872

So there should be 17 units hashing?

17 x 1.6 = 27.2

Is that what you are getting at? Are the whole timeline ordeal? Possibly the combo of both?

Either you own the bitcoins(private keys) or you don't. However with moneroj, nobody knows what you own.
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investr
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April 04, 2014, 01:44:41 AM
 #2873

http://oi62.tinypic.com/2e1ykwo.jpg

As you requested I removed the tracking. Fair enough.

However if you claim this is faked I hold the right, as we agreed to, to forward this e-mail to anyone who asks.

Without tracking I don't see what is relevant. Can you elaborate on what this picture shows?

When Garr was shipped the units from CT. As he did not want the tracking posted that is fine for privacy reasons as long as he does not say that this is fake and he admits the document is correct I will not post the tracking numbers. However if I need to prove that this is not fake I am willing to do so.

Edit: I'm only post this because I guess the document was not understandable with out the context. I really do not want to take part in this thread anymore unless you have direct questions like this to me. I'm pretty much over trying to improve Cog or get Garr to do his job.

Ok so we have proof of shipment. What we need are tracking numbers for proof of delivery. So since we have confirmation of shipment:


Tracking numbers have not been released because the units have not been shipped. I will gladly post them and a confirmation from CoinTerra when they ship.

Let's see the tracking numbers.

Successful transactions: http://pastebin.com/GM27Ju59
El Cabron
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April 04, 2014, 01:45:38 AM
 #2874

http://oi62.tinypic.com/2e1ykwo.jpg

As you requested I removed the tracking. Fair enough.

However if you claim this is faked I hold the right, as we agreed to, to forward this e-mail to anyone who asks.

Without tracking I don't see what is relevant. Can you elaborate on what this picture shows?

When Garr was shipped the units from CT. As he did not want the tracking posted that is fine for privacy reasons as long as he does not say that this is fake and he admits the document is correct I will not post the tracking numbers. However if I need to prove that this is not fake I am willing to do so.

Edit: I'm only post this because I guess the document was not understandable with out the context. I really do not want to take part in this thread anymore unless you have direct questions like this to me. I'm pretty much over trying to improve Cog or get Garr to do his job.

Ok so we have proof of shipment. What we need are tracking numbers for proof of delivery. So since we have confirmation of shipment:


Tracking numbers have not been released because the units have not been shipped. I will gladly post them and a confirmation from CoinTerra when they ship.

Let's see the tracking numbers.

If Garr says I am full of shit I will post the tracking numbers.

Sorry El Cabron, you are banned from posting or sending personal messages on this forum.
Trolling
https://bitcointalk.org/index.php?topic=622250.msg7030081#msg7030081
investr
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April 04, 2014, 01:46:37 AM
 #2875

We don't need him to say anything about you. He said he would post tracking numbers himself, as I have quoted.

Successful transactions: http://pastebin.com/GM27Ju59
stabs
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April 04, 2014, 01:47:26 AM
 #2876


Great, we get to execute a motion on old data.  I HAVE to believe with the recent developments (and assuming people can do simple math) that this CANNOT be an accurate reflection of shareholders opinions today.  It makes ZERO sense to continue this operation.
El Cabron
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April 04, 2014, 01:47:49 AM
 #2877

So there should be 17 units hashing?

17 x 1.6 = 27.2

Is that what you are getting at? Are the whole timeline ordeal? Possibly the combo of both?

That was as of the end of Feb. Cog was owed more than what was shipped. He should have gotten 4 to 5 more units in March like I did.  CT in the end did pay out full for the hashing power and the late stuff.

I do not have tracking for the last 4 or 5 units for Garr. Ravi did not send that to me.


Sorry El Cabron, you are banned from posting or sending personal messages on this forum.
Trolling
https://bitcointalk.org/index.php?topic=622250.msg7030081#msg7030081
stabs
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April 04, 2014, 01:50:24 AM
 #2878

I'm a small investor but I too would like to see an end to this drama (and NOT an end to COG).

Are you serious?  We will gain more by liquidating than keeping the miners and this operation running.  Please see previous posts with the analysis of the math.
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April 04, 2014, 01:59:09 AM
 #2879

How are you going to recoup the several thousand dollars I have lost?

I am going to do the very best I can to restore Cognitive to a state where it is earning everyone money again and we are all in the positive.

Garrett, to fast track this liquidation, please initiate your operator rights to close the operation and liquidate.

You've done the math, so has everyone else.  We cannot continue in your hosting facility and run a profitable operation.  It is in the best interest to all shareholders to liquidate.
investr
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April 04, 2014, 02:01:09 AM
 #2880

I originally voted against liquidation but I am inclined to change my vote (given the recent "mathing" - which though I haven't verified, looks legit).  Garr, Sam, if you have a counter-argument to "300BTC versus 50BTC", you should post it now, or expect a flood of vote changing. =/


Garrett agrees with the math. Assuming these calculations are correct, it seems that our best option is to liquidate. Garrett is going to post the current results of the motion on the Cognitive Mining website tonight.

More updates to come.

- Samuel



When this was posted I had well over 225 shares. The motion was closed. I had every reason to expect it was closed.

Actually, Goat, you make a good point with the question: When was the official end time of the motion?

It turns out, if you refer back to the official motion email:

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

Therefore the entire vote tally is inaccurate, since share ownership was calculated only hours ago.

According to those dates, share ownership should have been calculated while trading on Havelock was still frozen.

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