Bitcoin Forum
December 03, 2016, 05:48:33 PM *
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 2 3 4 5 6 7 8 9 10 11 12 13 14 15 [16] 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 ... 158 »
  Print  
Author Topic: Starting a new FPGA mining farm/contract! Cognitive Resurrected on[Havelock]  (Read 274491 times)
TheSeven
Hero Member
*****
Offline Offline

Activity: 504


FPGA Mining LLC


View Profile WWW
June 03, 2012, 05:56:47 PM
 #301

dividends in one year will be the same as they are now, assuming a constant difficulty.

That is a rather optimistic assumption going against the trend of BTC so far..

This is purely provable maths.

My tip jar: 13kwqR7B4WcSAJCYJH1eXQcxG5vVUwKAqY
1480787313
Hero Member
*
Offline Offline

Posts: 1480787313

View Profile Personal Message (Offline)

Ignore
1480787313
Reply with quote  #2

1480787313
Report to moderator
1480787313
Hero Member
*
Offline Offline

Posts: 1480787313

View Profile Personal Message (Offline)

Ignore
1480787313
Reply with quote  #2

1480787313
Report to moderator
1480787313
Hero Member
*
Offline Offline

Posts: 1480787313

View Profile Personal Message (Offline)

Ignore
1480787313
Reply with quote  #2

1480787313
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1480787313
Hero Member
*
Offline Offline

Posts: 1480787313

View Profile Personal Message (Offline)

Ignore
1480787313
Reply with quote  #2

1480787313
Report to moderator
1480787313
Hero Member
*
Offline Offline

Posts: 1480787313

View Profile Personal Message (Offline)

Ignore
1480787313
Reply with quote  #2

1480787313
Report to moderator
1480787313
Hero Member
*
Offline Offline

Posts: 1480787313

View Profile Personal Message (Offline)

Ignore
1480787313
Reply with quote  #2

1480787313
Report to moderator
TheSeven
Hero Member
*****
Offline Offline

Activity: 504


FPGA Mining LLC


View Profile WWW
June 03, 2012, 05:57:33 PM
 #302

I think he is talking more about income v. expense rather than what will happen relative to other companies.

Operating expense is very low with FPGA miners, and is completely covered by Garrett's shares, so he carries the whole risk of that.

My tip jar: 13kwqR7B4WcSAJCYJH1eXQcxG5vVUwKAqY
Vernon715
Full Member
***
Offline Offline

Activity: 182



View Profile
June 03, 2012, 07:23:27 PM
 #303



So I'm curious, what are our plans for when the reward rate halves at the end of the year? Do we still expect this mining farm to be profitable? Are there any good discussions about what to expect in respect to our farm?

We will surely still be profitable! Like all miners and mining companies, our revenue will halve (which I think will cause instability with GPU bonds), but aside from that, Cognitive will remain the same.

I think he is talking more about income v. expense rather than what will happen relative to other companies.

Our income will halve, our costs will remain constant. However, because of our recent expansions, dividends in one year will be the same as they are now, assuming a constant difficulty.

Buying more FPGAs?

Please donate: 1FfJzfpGCXD6saKqmMs8W1qt9wouhA98Mj

http://bitcoinpyramid.com/r/1642

100101011010100100101010010111001010010101010100101001000100101010101010101010
Garr255
Legendary
*
Offline Offline

Activity: 952


What's a GPU?


View Profile
June 03, 2012, 08:15:01 PM
 #304

Buying more FPGAs?

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.

“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!
Vernon715
Full Member
***
Offline Offline

Activity: 182



View Profile
June 03, 2012, 08:17:36 PM
 #305

Buying more FPGAs?

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.

I should have been more specific: Are you buying an more in addition to these?

Please donate: 1FfJzfpGCXD6saKqmMs8W1qt9wouhA98Mj

http://bitcoinpyramid.com/r/1642

100101011010100100101010010111001010010101010100101001000100101010101010101010
Garr255
Legendary
*
Offline Offline

Activity: 952


What's a GPU?


View Profile
June 03, 2012, 08:24:12 PM
 #306

I should have been more specific: Are you buying an more in addition to these?

I do plan to expand more in the future, yes. I do not know whether they will be FPGAs or ASICs. This completely depends on what new technologies are available!

Cognitive will always aim to be very efficient, utilizing the best mining hardware available.

“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!
Vernon715
Full Member
***
Offline Offline

Activity: 182



View Profile
June 03, 2012, 08:25:05 PM
 #307

Sounds good.     Thanks

Please donate: 1FfJzfpGCXD6saKqmMs8W1qt9wouhA98Mj

http://bitcoinpyramid.com/r/1642

100101011010100100101010010111001010010101010100101001000100101010101010101010
Garr255
Legendary
*
Offline Offline

Activity: 952


What's a GPU?


View Profile
June 04, 2012, 03:35:19 AM
 #308

A new wave of seven motions has been raised, and are as follows.

1: https://glbse.com/vote/view/29
Code:
This motion is first in a series of seven motions. The motion with the best for:against ratio will be put into effect. If two or more motions have the same for:against ratio the Operator will make the decision.
Continue with the plan as initially stated, purchasing as many Cairnsmore1 boards as we are able to with the already raised capital. This is because Enterpoint will not be able to include us in the June preorder, thus will most likely raise the price of the boards. Funds will remain dormant until Enterpoint allows payment. The expected shipping time is September 2012.

2: https://glbse.com/vote/view/30
Code:
This motion is second in a series of seven motions. The motion with the best for:against ratio will be put into effect. If two or more motions have the same for:against ratio the Operator will make the decision.
(Same as first but with CD)
Continue with the plan as initially stated, purchasing as many Cairnsmore1 boards as we are able to with the already raised capital. This is because Enterpoint will not be able to include us in the June preorder, thus will most likely raise the price of the boards. Funds will be invested in a CD earning interest until Enterpoint allows payment. The expected shipping time is September 2012.

3: https://glbse.com/vote/view/31
Code:
This motion is third in a series of seven motions. The motion with the best for:against ratio will be put into effect. If two or more motions have the same for:against ratio the Operator will make the decision.
Buy as many x6500s as possible with the funds. These will be delivered very quickly relative to other options. Remaining funds after the purchase will be put into a CD earning interest.

4: https://glbse.com/vote/view/32
Code:
This motion is fourth in a series of seven motions. The motion with the best for:against ratio will be put into effect. If two or more motions have the same for:against ratio the Operator will make the decision.
Buy as many ZTEX 1.15y boards as possible with the funds. Remaining funds after the purchase will be put into a CD earning interest.

5: https://glbse.com/vote/view/33
Code:
This motion is fifth in a series of seven motions. The motion with the best for:against ratio will be put into effect. If two or more motions have the same for:against ratio the Operator will make the decision.
Buy as many BFL Bitforce Singles as possible with the funds. This is possibly a good option because of the opportunity to trade up to BFLs ASICs in the future. Remaining funds after the purchase will be put into a CD earning interest.

6: https://glbse.com/vote/view/34
Code:
This motion is sixth in a series of seven motions. The motion with the best for:against ratio will be put into effect. If two or more motions have the same for:against ratio the Operator will make the decision.
Reinvest all funds back into Cognitive. This will ultimately increase dividends per share.

7: https://glbse.com/vote/view/35
Code:
This motion is seventh in a series of seven motions. The motion with the best for:against ratio will be put into effect. If two or more motions have the same for:against ratio the Operator will make the decision.
Pay the entirety of the funds as a single dividend. The dividend date will be announced two weeks in advance, most likely creating a large price spike and unpredictability immediately thereafter.

“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!
TheSeven
Hero Member
*****
Offline Offline

Activity: 504


FPGA Mining LLC


View Profile WWW
June 04, 2012, 06:33:15 AM
 #309

Hm, none of them really represents what I would be doing:
  • Talk with enterpoint and fix them on a price. If they offer the preorder price, go for it. If not, reject the offer. September is quite a long time.
  • ZTEX is simply too expensive, and they have made some nasty moves breaking compatibility in the past. Not a good investment.
  • BFLs might be an option, however I'm not sure if their ASIC is worth the risk. And you should check whether you can actually handle the singles thermally. If this is in your bedroom, noise is gonna be a problem.
  • X6500s are almost sold out, so you'll have to hurry to get some.
  • I'm not in favor of paying back the raised money in full in any form. For a remainder after buying additional hardware, both paying it as a dividend and buying back shares into the growth fund sound fine to me.
  • To conclude: I'd quickly check with enterpoint, if they're more expensive than anticipated, have a huge lead time, or aren't completely clear on their offer, try to grab some of the remaining X6500s. If that fails as well, check if you can go with BFLs.

My tip jar: 13kwqR7B4WcSAJCYJH1eXQcxG5vVUwKAqY
Garr255
Legendary
*
Offline Offline

Activity: 952


What's a GPU?


View Profile
June 04, 2012, 06:49:32 AM
 #310

Enterpoint hasn't been much help. They take ~5 days to respond to a simple email, so communication with them is very tedious.

This operation is being ran in one of the cooler parts of my house, on top of my server. In the future I plan to rent space with industrial power, allowing for even further expansion.

As for the motions, I created one for all of the mentioned ideas. Some of these motions definitely do not represent what I want to do personally.

I can still add another motion to the list, so if there are any additional suggestions, let me know!

“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!
GeoRW
Sr. Member
****
Offline Offline

Activity: 329


Trust No One


View Profile
June 04, 2012, 09:49:43 AM
 #311

What does number 6 actually mean? You will buy Cognitive shares?
Vernon715
Full Member
***
Offline Offline

Activity: 182



View Profile
June 04, 2012, 10:32:25 AM
 #312

What does number 6 actually mean? You will buy Cognitive shares?

I think that is what he means.

Please donate: 1FfJzfpGCXD6saKqmMs8W1qt9wouhA98Mj

http://bitcoinpyramid.com/r/1642

100101011010100100101010010111001010010101010100101001000100101010101010101010
GeoRW
Sr. Member
****
Offline Offline

Activity: 329


Trust No One


View Profile
June 04, 2012, 10:40:44 AM
 #313

What does number 6 actually mean? You will buy Cognitive shares?

I think that is what he means.

more specifically ... at any market price?
Garr255
Legendary
*
Offline Offline

Activity: 952


What's a GPU?


View Profile
June 04, 2012, 03:41:01 PM
 #314

#6 Means Cognitive will buy back Cognitive shares. Dividends from these shares will be added to the dividends paid to everyone.

“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!
stabs
Member
**
Offline Offline

Activity: 109


View Profile
June 04, 2012, 04:37:56 PM
 #315

As for the motions, I created one for all of the mentioned ideas. Some of these motions definitely do not represent what I want to do personally.

Garr, what would be your personal choice as a stock holder?
Vernon715
Full Member
***
Offline Offline

Activity: 182



View Profile
June 04, 2012, 05:40:31 PM
 #316

As for the motions, I created one for all of the mentioned ideas. Some of these motions definitely do not represent what I want to do personally.

Garr, what would be your personal choice as a stock holder?

Take the money and run Grin

JK.

Good question.

Please donate: 1FfJzfpGCXD6saKqmMs8W1qt9wouhA98Mj

http://bitcoinpyramid.com/r/1642

100101011010100100101010010111001010010101010100101001000100101010101010101010
Garr255
Legendary
*
Offline Offline

Activity: 952


What's a GPU?


View Profile
June 04, 2012, 07:01:48 PM
 #317

I voted for 2, 3, 5, and 6, and against the rest.

“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!
Vernon715
Full Member
***
Offline Offline

Activity: 182



View Profile
June 04, 2012, 07:10:15 PM
 #318

I voted for 2, 3, 5, and 6, and against the rest.

What were your reasons for voting for those particular motions?

Please donate: 1FfJzfpGCXD6saKqmMs8W1qt9wouhA98Mj

http://bitcoinpyramid.com/r/1642

100101011010100100101010010111001010010101010100101001000100101010101010101010
Garr255
Legendary
*
Offline Offline

Activity: 952


What's a GPU?


View Profile
June 05, 2012, 03:40:39 AM
 #319

I voted for 2, 3, 5, and 6, and against the rest.

What were your reasons for voting for those particular motions?

I voted for those because I believe they will better the company the most.

I'm sure some will choose the dividend pay out, only because of self interest. I strongly recommend not voting for #7

“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
Legendary
*
Offline Offline

Activity: 952


What's a GPU?


View Profile
June 07, 2012, 06:41:36 AM
 #320

Two days left to vote!

“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 2 3 4 5 6 7 8 9 10 11 12 13 14 15 [16] 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 ... 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!