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

[Garr255]

The motion for the Avalon ASICs has passed, and shares have been issued and put up for sale!

Voted Yes:2127
Voted No  :91

A motion to create a growth fund will be initiated shortly. This will largely help in increasing and maintaining share value long term.

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[Garr255]

Also, in addition to the recent expansion plans, BFL has updated the ASIC specs giving cognitive an extra 160GH/s than originally expected from our SC Singles!

https://forums.butterflylabs.com/content.php/117-Announcement-BFL-ASIC-Release-specifications

[jav]

Hey! I have looked at Cognitive from time to time and have just been catching up. I have a few questions, that I couldn't answer from reading the thread:

What is the current MH/s of the mining farm?

Are the BFL Singles still hashing or are they already on their way back to BFL? (By the way, the OP still says that the Singles have not been delivered yet.)

Any contingency plan in case those new shares issued for acquiring Avalon ASICs are not actually sold on GLBSE anytime soon? I mean, it's almost $20k in new money needed there. And in the meantime those unsold shares kind of dilute the dividend payment, don't they? Or are you somehow redirecting the dividend payment for those unsold shares? (or does GLBSE already do that?)

Thanks in advance! :-)

[Garr255]

Hey! I have looked at Cognitive from time to time and have just been catching up. I have a few questions, that I couldn't answer from reading the thread:

What is the current MH/s of the mining farm?

Are the BFL Singles still hashing or are they already on their way back to BFL? (By the way, the OP still says that the Singles have not been delivered yet.)

Any contingency plan in case those new shares issued for acquiring Avalon ASICs are not actually sold on GLBSE anytime soon? I mean, it's almost $20k in new money needed there. And in the meantime those unsold shares kind of dilute the dividend payment, don't they? Or are you somehow redirecting the dividend payment for those unsold shares? (or does GLBSE already do that?)

Thanks in advance! :-)

Hello jav,

Sorry for not keeping the OP up to date... the web site is always up to date if you want to see inventory.

We currently have 13200mh/s, then the BFL ASICs will add 420000mh/s, then the Avalon ASICs will add 600000mh/s, for a total of 1033.2gh/s!

In the past all shares have always sold within a week. I'm confident these will sell in a timely manner, but if they don't we will have to develop a plan.

GLBSE does not pay dividends to shares held by Cognitive (AKA only outstanding shares are paid), so that isn't a problem.

Thanks for your interest,
Garrett

[stochastic]

Garr, I have a sixth sense, right?

[jav]

Hey Garrett, any first thoughts on what to do regarding the whole GLBSE situation? Are you planning on continuing "on your own", if it (hopefully) will be possible to extract a list of share holders from GLBSE?

On the same note: Does anyone feel like panic selling? ;-) I was actually about to buy some COGNITIVE shares and would still be looking to get about 65, now at a price of 0.3 BTC each. Contact me, if you are interested. Escrow for both shares and BTC via Garrett (if he is fine with that), once that becomes somehow possible.

[Garr255]

Hey Garrett, any first thoughts on what to do regarding the whole GLBSE situation? Are you planning on continuing "on your own", if it (hopefully) will be possible to extract a list of share holders from GLBSE?

On the same note: Does anyone feel like panic selling? ;-) I was actually about to buy some COGNITIVE shares and would still be looking to get about 65, now at a price of 0.3 BTC each. Contact me, if you are interested. Escrow for both shares and BTC via Garrett (if he is fine with that), once that becomes somehow possible.

Hey jav,

I do want to keep Cognitive going and continue to comply with all of the new legal regulations that will probably start popping up.
Currently I have the understanding that Nefario will release shareholder information (or at least allow shareholders to provide it) on Monday.

Until all shares are accounted for I would advise not doing any p2p trades. Surely people will panic sell, and I among others are getting ready to catch some cheap shares. If needed when the time comes I will be happy to escrow.

As for exchanges there are a few options, the most likely being assets-otc or cryptostocks. As of now I just want a way to get dividends paid. All mining income will be building up as normal until such a time that that is possible.

This hit most of us like a bus, and I sincerely hope we can resolve this issue very soon.

Garr, I have a sixth sense, right?

Indeed you do.

[zorgberg]

I invested with Cognitive fully aware that GLBSE might eventually be shut down because I trusted Garr would do whatever he can to keep things operating.  I for one was excited by the direction Cognitive was taking before this bad news hit, so it is good to hear that my instinct was correct and Cognitive will continue on despite this development.  My thought now is just to ride this out and let the dust settle, then we can look at options.  As Garr said if some panic selling occurs once it is possible to trade again, then hopefully I can pick up some cheap shares and turn this crappy situation into a positive one.

[stochastic]

Garr,

GLBSE is now requiring information from users to close their accounts and receive bitcoins/assets.  Are you willing to enter that information?  It requests email address, bitcoin address, and an agreement to share this contact information with asset issuers.

The next page requests:

Verify account
To comply with money laundering regulations we must ask you to submit documents for proof of your address and identity.

Picture of your ID
Please provide a clear picture of your photo ID. For France, Germany, Spain, and English speaking countries ID cards, Passports and drivers licences are accepted, for everywhere else only passports are accepted.


User picture
Please provide a clear picture of you, holding a piece of paper with your GLBSE username and the date written on it.


Proof of address
Please provide a clear(unaltered) picture of proof of address. Tax statements or utility bills are accepted. This must clearly show your name (same as that on your ID) and address, it must also be dated within the last 3 months.

Not accepted are bank statements or bills issued electronically

Here is the forum discussion:
https://bitcointalk.org/index.php?topic=117539.0

I am also requesting the release of all shareholder names of BitcoinGlobal, the parent company of GLBSE, but theymos is not willing to do that.  Since they cannot keep control of their AWOL CEO, Nefario, I believe all shareholders of BitcoinGlobal should receive scammer tags until some settlement or all coins/assets are returned.

[Garr255]

GLBSE Has now opened a form to get your assets back, and without any personal information aside from an email address!

Head over there and fill out the form!

I've been talking with the founder of GLBSE and it looks like he is on track to get everything resolved within a week.

I imagine I will be holding a list of all shareholders containing only: and email, bitcoin address, and the number of shares held. After I receive this list, you should be able to trade assets p2p. Just get in contact with me at garrett@cognitivemining.com using the email you gave GLBSE.

There are a number of people who will be happy to buy cheap shares

[stochastic]

GLBSE Has now opened a form to get your assets back, and without any personal information aside from an email address!

Head over there and fill out the form!

I've been talking with the founder of GLBSE and it looks like he is on track to get everything resolved within a week.

I imagine I will be holding a list of all shareholders containing only: and email, bitcoin address, and the number of shares held. After I receive this list, you should be able to trade assets p2p. Just get in contact with me using the email you gave GLBSE.

There are a number of people who will be happy to buy cheap shares

After everything is resolved think about restructuring this company, a motion should go out to organize the company.  I can only think of three options:
1.  As a general partnership
2.  As a LLC
3.  Sole proprietor or LLC with Garr the only shareholder and people rent hashpower for a monthly fee.

[Garr255]

We will definitely be arranging the company in a way that abides by applicable law, and a motion is a great way to do this. Once we get set up on a platform that supports motions one will be issued.

[investr]

I got my refund from GLBSE, does that mean you've received my asset info?

[zorgberg]

The refund email I received says "We will also inform you when we process your assets, allowing you to continue your relationship with your issuer."

I haven't been informed so I guess that means they are still processing assets.

[Garr255]

I haven't received any emails from GLBSE at all since the closure. I haven't got the funds from Cognitive's account or my personal one either.

I'm planning on calling Nefario tomorrow. If there are any questions youn want to ask him specifically, I'll be happy to relay them.

[Bees Brothers]

I haven't received any emails from GLBSE at all since the closure. I haven't got the funds from Cognitive's account or my personal one either.

I'm planning on calling Nefario tomorrow. If there are any questions youn want to ask him specifically, I'll be happy to relay them.

Ask him to give us access to our final GLBSE history.  Either email it or let us log in and download a .csv file.

https://bitcointalk.org/index.php?topic=119057.msg1280237#msg1280237

[Garr255]

Will do.

[stochastic]

Will do.

GLBSE is doubling paying.
https://bitcointalk.org/index.php?topic=118354.msg1281578#msg1281578

[zorgberg]

Will do.

GLBSE is doubling paying.
https://bitcointalk.org/index.php?topic=118354.msg1281578#msg1281578

I was hoping this would be cleaned up by now, or at least issuers would have their info so we could resume business elsewhere while payments were sorted out.  

At this point, I think allowing people (including issuers) to retrieve their full account histories as Bees Brothers suggested is the only recourse.

Let's hope Garr can give us an update after his talk with Nefario.

[Garr255]

I haven't been able to get a hold of him. I'll post back when I do...