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

[Garr255]

Because of our former pool payment mechanism, the dividend in a few hours is going to be upwards of 45BTC!

[nimda]

BUY BUY BUY!

[Garr255]

Because of our former pool payment mechanism, the dividend in a few hours is going to be upwards of 45BTC!

Not sure what that means, but sounds like good news !

I usually get around to paying dividends after Clipse pays his miners each Saturday, but last week I did it before, thus our very competitive dividend today even without most of our new hardware.

Thanks to all who purchased the newly issued shares, I just ordered our seven SC Single upgrades. When we receive our seven FPGA Singles, our hashrate will be upwards of 13500mh/s.  After all of the upgrades have completed, our hashrate will be 287600mh/s.

All of the numbers can be seen at http://cognitivemining.com/

[stabs]

Thanks Garr, any update on when the singles will arrive?

[Garr255]

Thanks Garr, any update on when the singles will arrive?

According to this thread, we should receive them ~60 days after the purchase date, so we should be receiving the FPGA Singles mid-August.

[Garr255]

I just created a Cognitive thread in the LitecoinTalk forum, because of the possibility of Cognitive purchasing some Litecoin mining hardware.

Here is a quote of that post. I will be checking both forums regularly so either will be a good way to communicate.

I'm thinking of raising a motion to purchase a LTC mining rig for Cognitive. I would hope to be able to pay out LTC dividends, but until such a mechanism is in place I will either have to hold the LTC until it is, then pay it out, or sell the LTC for BTC and pay it out as usual.

Otherwise, the main thread is here: https://bitcointalk.org/index.php?topic=67547.0

What are your opinions on getting into the Litecoin game?

[conspirosphere.tk]

What are your opinions on getting into the Litecoin game?

As a Cognitive investor, I am against this since failcoins seem to me a waste of time and money. But I am curious to hear why you have a different opinion.

[PinkBatman]

I think if this was a GPU powered security it would make lots of sense, but with only FPGA power it would mean more hardware being brought in. Unless when (if) ASICs are released people are having GPU fire sales and we could pick up cheap cards.

[burnside]

You'll also probably want to partner with a facility with lots of power available close by.  The FPGA's are great running at home, but if you want to seriously scale with GPU's you're going to need lots of power.  Please correct me if I'm wrong.  By my calculations you can only get ~6-8 6950's on a 20A circuit.  (keeping in mind that you don't want to run a 20A circuit beyond 16-17A.)

Cheers.

[Garr255]

As a Cognitive investor, I am against this since failcoins seem to me a waste of time and money. But I am curious to hear why you have a different opinion.

First of all, I have to argue that Litecoin is in my opinion the best alt coin, and will probably succeed. The opposing views of alt coins are mostly caused by different definitions of "success". Some people think a successful alt coin should be at par with btc, or even just hit $1, but Litecoin has recently drawn the attention of GPU miners because it is actually more profitable to mine ltc and sell for btc (although I don't support this, and really want a way to pay dividends in ltc if we mine them).

I think if this was a GPU powered security it would make lots of sense, but with only FPGA power it would mean more hardware being brought in. Unless when (if) ASICs are released people are having GPU fire sales and we could pick up cheap cards.

My feeling here is that the fire sale will be avoided and the Litecoin hashrate (and Litecoin itself) will flourish. I do agree that if we were already a GPU mining company it would be in our best interest to switch. Even so, I would want a way to pay the dividends in LTC.

You'll also probably want to partner with a facility with lots of power available close by.  The FPGA's are great running at home, but if you want to seriously scale with GPU's you're going to need lots of power.  Please correct me if I'm wrong.  By my calculations you can only get ~6-8 6950's on a 20A circuit.  (keeping in mind that you don't want to run a 20A circuit beyond 16-17A.)

Cheers.

Yes, if we are ever to massively expand with GPUs I have two places in mind, both owned by family friends.

While on this topic, what are your opinions on a bit of expansion? My guess is that ASICs will not come until early next year. As of now it seems that BFL is a good long term choice mainly because of their ASIC upgrade plan, while other FPGA companies can guarantee a delivery in an extremely reasonable amount of time.

[Bitcoin Oz]

This is why I wanted to start a litecoin sharemarket similar to glbse. I was hoping nefario would open one based on glbse codebase but no dice :/

I would like to invest in the exchange itself rather than just another mining company 

[Garr255]

Well Nefario's policy is that he will not trade assets, because he has the ability to access information that might be advantageous, so this is probably the sole reason for not issuing a GLBSE asset. Plus, he makes plenty with fees

[PinkBatman]

Having one of the big mining operations on the trade support LTC funding may make the GLBSE reconsider adopting it as a second currency. (fingers crossed)

[burnside]

Having one of the big mining operations on the trade support LTC funding may make the GLBSE reconsider adopting it as a second currency. (fingers crossed)

I've asked on the features thread for an API that would let LTC-MINING track shareholders by email address and share count.  With that alone it could be done.  Maybe if a few more ppl ask it'll move up the priority list.

It's important too because without some kind of an api download an asset issuer and the asset holders are completely screwed if the GLBSE goes dark.  I'm surprised more people aren't asking for it.

[zorgberg]

Is cognitivemining.com down or is that just me?

[SaintFlow]

Is cognitivemining.com down or is that just me?

down from here, too

[GeoRW]

Is cognitivemining.com down or is that just me?

Try http://macdonaldboats.com/cognitivemining/

Got this from webpage source. Looks valid Garr's website.

[Garr255]

Not sure why the domnain isn't forwarding to where it should ( http://macdonaldboats.com/cognitivemining/ )

I logged into GoDaddy (the web hosting service I use) and reforwarded it. If the problem persists in a few hours I will give them a call.

[Garr255]

I called the company and they ran a few diagnostics on the domain, all passing. I deleted an extra A name record which might resolve the issue, but we won't know for another 24 hours.

Apologies for the domain errors. The site can still be viewed using this link: http://macdonaldboats.com/cognitivemining/

Additionally, we have a dormant 108.01BTC. I think we should hold on to it until more asic companies start appearing, then make a decision. Any other suggestions here?

[nimda]

Give it to PatrickHarnett and get 1.08 BTC/week on it. That's almost 50 bucks a month which can go towards ASICs