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

[stabs]

We tried investing before...

Yes, as much as I love losing 100 BTC...I think the minimal interest isn't worth the risk.

I vote Yes.

[silverfuture]

We tried investing before...

Yes, as much as I love losing 100 BTC...I think the minimal interest isn't worth the risk.

I vote Yes.

Agreed and a yes vote here on the avalon. Funds should be spent on increasing hashing power as soon as the right buying opportunity presents itself, not loaning it out or risking on other investments.

[killerstorm]

We can estimate value of avalon units from BASIC-MINING valuation

Current market cap is 10050 BTC (5000 shares @2.1. BTC).

We can remove liquid assets out of equation (as creativex can simply sell them and pay dividends):

1247 BTC
100 ASICMINER shares @3.5 BTC each: 350 BTC

What's left is 8453 BTC, attributed to 4 GPUs, 3 avalon units and creativex's creativity

That's 2800 BTC per unit.

If Garr's creativity isn't any less, it totally makes sense to buy avalon units then. This can double or triple market cap

On the other hand, value of 1 Mh/s PMB on the market is about 0.004-0.005 BTC. Thus if maintenance was free, value of 80 Gh/s unit would be 320 BTC. So if you believe that electricity and amortization cost is less than 230 BTC over lifetime, it's worth buying.

[btcboston]

Any updates on COG.F?  What is happening with those funds? 

[creativex]

We can estimate value of avalon units from BASIC-MINING valuation

Current market cap is 10050 BTC (5000 shares @2.1. BTC).

We can remove liquid assets out of equation (as creativex can simply sell them and pay dividends):

1247 BTC
100 ASICMINER shares @3.5 BTC each: 350 BTC

What's left is 8453 BTC, attributed to 4 GPUs, 3 avalon units and creativex's creativity

That's 2800 BTC per unit.

If Garr's creativity isn't any less, it totally makes sense to buy avalon units then. This can double or triple market cap

On the other hand, value of 1 Mh/s PMB on the market is about 0.004-0.005 BTC. Thus if maintenance was free, value of 80 Gh/s unit would be 320 BTC. So if you believe that electricity and amortization cost is less than 230 BTC over lifetime, it's worth buying.

Thanks for the breakdown. Would you say an in hand batch 2 Avalon(or two) deserve a premium over a batch 3 second hand pre-order?

Trolls aside, I think you should definitely do this Garr if you can find a trustworthy source for a batch 3 pre-order at that price. Presumably this is a 3 module Avalon?

[Carnth]

  We should be investing our reserve coins rather then just having them sit idle. 

Buying mining equipment is investing.

So I say yes.

[Garr255]

I have sent out emails to a few people who offered to sell the units, and plan on purchasing two of them as of now, then letting the remaining ~30 coins sit aside for boards for our Avalon chips.

Yes Cognitive lost 100btc a long time ago because PatrickHarnett turned out to be a scammer who ran away with our deposit. We have learned from this, and are most likely only going to be investing in physical mining hardware hereafter.

Re: COG.F

The COG.F funds were used to purchase the said Avalon chips, and once they start hashing for us (Mid-Late August) the COG.F contracts will all be converted to Cognitive shares.

Cheers, these coming months are good times for Cognitive

--Garrett

[Code_red]

Have those shares been pulled from the market last I checked they were still listed at .62 which we are approaching.

[Garr255]

Have those shares been pulled from the market last I checked they were still listed at .62 which we are approaching.

The shares Cognitive currently has for sale are not the same ones that have to be redeemed as COG.F shares. In previous posts I remember specifying that if those shares sell, then more will be issued to cover the COG.F transfers.

Although, you do bring up a good point: What should we do with the funds from the shares currently for sale? They were originally intended for purchasing Avalon units, so if they sell I think we should try to buy another Avalon pre-order from someone.

[miTgiB]

Have those shares been pulled from the market last I checked they were still listed at .62 which we are approaching.

The shares Cognitive currently has for sale are not the same ones that have to be redeemed as COG.F shares. In previous posts I remember specifying that if those shares sell, then more will be issued to cover the COG.F transfers.

Although, you do bring up a good point: What should we do with the funds from the shares currently for sale? They were originally intended for purchasing Avalon units, so if they sell I think we should try to buy another Avalon pre-order from someone.

I don't remember seeing a solution to staging. But the point is, the current COG.F holders have had those funds allocated for the Avalon chips, so in fairness if you raise more funds for another order, you would need to offer shares under a different ticker so no commingling happens when shares issue in CONGITIVE, as well as the market has placed a higher value to current COG.F warrants, I would imagine for time value as arrival of the Avalon chips will be sooner than an order placed today or near future.

[Garr255]

I don't remember seeing a solution to staging. But the point is, the current COG.F holders have had those funds allocated for the Avalon chips, so in fairness if you raise more funds for another order, you would need to offer shares under a different ticker so no commingling happens when shares issue in CONGITIVE, as well as the market has placed a higher value to current COG.F warrants, I would imagine for time value as arrival of the Avalon chips will be sooner than an order placed today or near future.

I think you have a misunderstanding of how Cognitive and COG.F relate to one another. The funds raised by COG.F have already been used to order Avalon chips. Cognitive currently has extra funds, which should be used to purchase mining hardware very soon. Additionally, Cognitive has shares which have been on the market for a long time, at a price above what Cognitive has been previously traded at. We are now talking about what we should do with the funds raised from these shares in the event that they do sell.

Sorry for the confusion, does that make things clearer?

--Garrett

[miTgiB]

I don't remember seeing a solution to staging. But the point is, the current COG.F holders have had those funds allocated for the Avalon chips, so in fairness if you raise more funds for another order, you would need to offer shares under a different ticker so no commingling happens when shares issue in CONGITIVE, as well as the market has placed a higher value to current COG.F warrants, I would imagine for time value as arrival of the Avalon chips will be sooner than an order placed today or near future.

I think you have a misunderstanding of how Cognitive and COG.F relate to one another. The funds raised by COG.F have already been used to order Avalon chips. Cognitive currently has extra funds, which should be used to purchase mining hardware very soon. Additionally, Cognitive has shares which have been on the market for a long time, at a price above what Cognitive has been previously traded at. We are now talking about what we should do with the funds raised from these shares in the event that they do sell.

Sorry for the confusion, does that make things clearer?

--Garrett

Yes, perfectly, I was not aware treasury shares were still being offered.

[tehelsper]

How many of the shares on btct.co are still being offered by COGNITIVE? I assume it's most of the shares offered at BTC.615 or BTC.62.

[Garr255]

How many of the shares on btct.co are still being offered by COGNITIVE? I assume it's most of the shares offered at BTC.615 or BTC.62.

Yes, currently there are 1611 shares for sale at 0.62. Cognitive's current holdings are publicly viewable at https://btct.co/portfolio/frc2

Cheers,
Garrett

[Shivan Raiders]

whoa, only one share actually sold at .14, but that was quite the black swan event. .  Not sure if it was linked to other selling that seemed to be across other stocks or not (we will never know).  Wish I had more dry powder to potentially buy more...I think someone just needed to cash out.

[investr]

I saw that. I'm kicking myself for not picking up that 10 @ .3 now. Someone else did about 30 second later.

[nimda]

It's remarkable that COGNITIVE has done this well. IIRC, I first bought shares of COGNITIVE on the GLBSE at 0.4 BTC, when BTCUSD was $5. It's now $100, and COGNITIVE is still over 0.4 BTC.

[redbeans2012]

Can you guys give an update on whats expected with Cognative in the near future?  I own shares but have been out of the loop.  Aren't we expecting a few BFL singles soon?  What is the expected hashrate per share once these start going?

Thanks!

[investr]

The time frame was 2013-06-30 00:33:20

[tehelsper]

Any news on the BFL or Avalon units?