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

[stochastic]

Yes, well hopefully we can get the minimum sell price up above 1BTC! Let's assume it does get there; then what would your opinion be?

Sure, as the CEO you want the share price to go up, but you also want to evaluate the value of your company.  Issuing more shares will dilute the current shareholder's value.  Also, lets say the lowest bid is 1.00 for the company so you release 1000 shares at that price.  The current shareholders would have no problem putting sell orders less than your 1.00 ask.

My personal opinion is to get everything running first.  Release the dividends for at least a month.  After that see if there is any extra money after paying for electricity with the 500 shares and have the company start buying back shares or save it up and grow the company.

This is where keeping good records and accounts of the value of the company is important.  With all those cards you have now and the cash keep track of what is the company worth per share.

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[HorseRider]

My suggestion is that we start to operating the FPGA mining cluster for 1 or 2 month first before we issuing new shares. I'm worrying about the LargeCoin's new mining weapons. We will see if it's the right time to issue new shares to purchase one  ASIC.

If we're issuing new share, I guess we can wait until Neferio have developed the "rights issue" feature. He said to me that it is one of the priority of the GLBSE.

The rights issue will let the existing shareholders have the priority to purchase the new shares issued by the company.  If the existing shareholder have this option, we can still issue shares based on the book value of the company, which will be lower than the market price. In this way, the existing shareholders will purchase the share aggressively. the rights issue price is based on the book value of the company, so the existing shareholders will have the option to reinvest their dividend to the company at a very low price.

[HorseRider]

Yes, well hopefully we can get the minimum sell price up above 1BTC! Let's assume it does get there; then what would your opinion be?

Issuing more shares will dilute the current shareholder's value. 

My personal opinion is to get everything running first.  Release the dividends for at least a month.  After that see if there is any extra money after paying for electricity with the 500 shares and have the company start buying back shares or save it up and grow the company.

This is where keeping good records and accounts of the value of the company is important.  With all those cards you have now and the cash keep track of what is the company worth per share.

+1.

I strongly suggest that the company will let the existing shareholders purchase new share at the book value of the company, and then the shares that the existing shareholders give up to purchase will be sold at the market value which will not be lower than the book value of the company.

The rights issue feature is under the development of Nefario.

[stochastic]

My suggestion is that we start to operating the FPGA mining cluster for 1 or 2 month first before we issuing new shares. I'm worrying about the LargeCoin's new mining weapons. We will see if it's the right time to issue new shares to purchase one  ASIC.

If we're issuing new share, I guess we can wait until Neferio have developed the "rights issue" feature. He said to me that it is one of the priority of the GLBSE.

The rights issue will let the existing shareholders have the priority to purchase the new shares issued by the company.  If the existing shareholder have this option, we can still issue shares based on the book value of the company, which will be lower than the market price. In this way, the existing shareholders will purchase the share aggressively. the rights issue price is based on the book value of the company, so the existing shareholders will have the option to reinvest their dividend to the company at a very low price.

+1

I'm going to pay out a 1btc dividend as a test right now, and as a partial compensation of some sort for not instantly having the hardware

Got it.

[Garr255]

I +1 all above comments. Looking forward to GLBSE 2.0!

[HorseRider]

Yes, well hopefully we can get the minimum sell price up above 1BTC! Let's assume it does get there; then what would your opinion be?

I'm going to pay out a 1btc dividend as a test right now, and as a partial compensation of some sort for not instantly having the hardware

Garr, got the dividend. thank you very much. what's your plan next?

Maybe it's time for you to get every reporting feature up on the http://www.cognitivemining.com/.

you said that the 1Ghash/s mining rigs is now mining for Cognitive. When did it started and how many bitcoins mined since then? The transparency will increase the shareholder value because we can sleep better if we can take a look at our company before going to bed

[Nefario]

I heartily recommend waiting for 2.0, and holding a vote (you can try out the new voting system) on the issue of raising more funds by selling more shares.

What I would recommend is to maximise the return, start focusing on profits and dividends, you do this and the share price will take care of itself.

News on GLBSE2.0, the primary testing has finished, all the bugs have been worked out. I've gotten a dedicated server (paid for the next year ) and have been setting the system up.

In terms of coding the only thing that needs to be added is deposits and withdrawals.

I'll set up and re-test the new GLBSE2.0 server and setup, we might be opening our doors as early as the end of tomorrow.

This is an exciting time.

Nefario.

[Garr255]

Garr, got the dividend. thank you very much. what's your plan next?

Maybe it's time for you to get every reporting feature up on the http://www.cognitivemining.com/.

you said that the 1Ghash/s mining rigs is now mining for Cognitive. When did it started and how many bitcoins mined since then? The transparency will increase the shareholder value because we can sleep better if we can take a look at our company before going to bed

That 1btc was a part of the weekly earning for that miner. I expect between .5 and 1btc more for this week.

I updated the site http://cognitivemining.com/. It now shows all the items that are owned and that will be owned by the company. I am looking into ways to display the hashrate and market trading data there now.

Thanks for the update, Nefario.

-Garrett

[stabs]

I'm curious who owns the most shares, I assume someone owns 1000+?

[Garr255]

Yes, yesterday there was a purchase of 1200 shares.

[friedcat]

Yes, yesterday there was a purchase of 1200 shares.

Your mining farm is quite promising. Too bad we failed to catch the last bus of the
Cognitive IPO.

[Garr255]

For those of you who missed out on this IPO: I might start a similar contract in the future, but I'm not going to get ahead of myself. This one will be the main focus for a while, just keep your eyes open!

[stochastic]

What is the ETA for the boards?

[TheSeven]

I updated the site http://cognitivemining.com/. It now shows all the items that are owned and that will be owned by the company. I am looking into ways to display the hashrate and market trading data there now.

Once you mine with actual FPGA boards, you can access MPBM's realtime statistics API, and probably wrap something around it to generate some graphs. Contact me for details.

[btctrader22]

do you have a history of dividend paid on your site ?

[HorseRider]

Yes, yesterday there was a purchase of 1200 shares.

Your mining farm is quite promising. Too bad we failed to catch the last bus of the
Cognitive IPO.

If the company is a good company with a integrity manager and promising future, you should not stop buy it only because the price doubled. based on my calculation, Cognitive is still one of the mining shares which has great investment value on the GLBSE, compared to lots of mining company.

[HorseRider]

Garr,

1. you paid 1 BTC dividend after the IPO completed. I guess this dividend is very special so maybe I'd like to ask you clarify that whether the Growth Contribution arrangement apply to this dividend. if apples, the  remaining fund should be 0.05 more than it is now on the page; if not is still fine. we can start next time.

I will bring up the accounting book tomorrow, and made it editable to you. I guess this company is the only one on GLBSE that is with serious financial accounting report system.


2. BTCSYN does a good job on the transparency. Since we will publish the video of setup, we can do better job than BTCSYN.

what we have now:
asset list

what we planned to do:
display the hashrate and market trading data. (share price or bitcoin exchange? excellent!)
wekekly earnings, and total value of all hardware.

suggestion
Bitcoin mined to be reported instantly on the website. just like BTCSYN




@ btctrader22

Cognitive has already paid out 1 btc dividend today. After I set up the accouting google spreadsheet for this company, you will be able to find a full history of dividend easily.

[Garr255]

What is the ETA for the boards?

Six will arrive and be hashing the first week of April. The rest will be paid for and shipped out after that.

do you have a history of dividend paid on your site ?

No, but that is a good thing to have. You can now view the dividend history on the site.

...
suggestion
Bitcoin mined to be reported instantly on the website. just like BTCSYN
...

I like that idea very much.

Thanks for taking the initiative to make that spreadsheet, it will be beneficial to the company.

The video will be one of many things to help increase transparency.

Edit: Also, GLBSE is giving me problems right now. It won't show me my balance or asset history etc. Instead it just shows "Retrieving" and "Refreshing".

[btctrader22]

What is the ETA for the boards?

Six will arrive and be hashing the first week of April. The rest will be paid for and shipped out after that.

do you have a history of dividend paid on your site ?

No, but that is a good thing to have. You can now view the dividend history on the site.

...
suggestion
Bitcoin mined to be reported instantly on the website. just like BTCSYN
...

I like that idea very much.

Thanks for taking the initiative to make that spreadsheet, it will be beneficial to the company.

The video will be one of many things to help increase transparency.

Edit: Also, GLBSE is giving me problems right now. It won't show me my balance or asset history etc. Instead it just shows "Retrieving" and "Refreshing".

glbse is broken right now.

nefario said he's upgrading, but its been alamost a full day now

[Nefario]

Actually no, I've only brought the system down less than an hour ago, what you were seeing was the database lock that GLBSE 1.0 has been so dogged by. Soon no more.

We've got a nice beefy server, so it's going to run fast.

Nefario.