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

[redbeans2012]

Let's go Garrett! Your security is what got me interested in the first place, and the only one I've held since I started. I have a good confidence in your ability of management, let's get some updates, man..

He said he really can't give any more info on the 28nm chips till the company releases the chips.. maybe he's working with active mining.

One thing I do know is that, BFL is a few days away from shipping their 7 Singles which will double our hashrate.  (If my math is right)

Probably dumb to be selling this stock right now. :p

[investr]

Let's go Garrett! Your security is what got me interested in the first place, and the only one I've held since I started. I have a good confidence in your ability of management, let's get some updates, man..

He said he really can't give any more info on the 28nm chips till the company releases the chips.. maybe he's working with active mining.

One thing I do know is that, BFL is a few days away from shipping their 7 Singles which will double our hashrate.  (If my math is right)

Probably dumb to be selling this stock right now. :p

At this price I am buying more.

I think he has a good thing going with this next gen of chips.

Beat you to it!

[redbeans2012]

Let's go Garrett! Your security is what got me interested in the first place, and the only one I've held since I started. I have a good confidence in your ability of management, let's get some updates, man..

He said he really can't give any more info on the 28nm chips till the company releases the chips.. maybe he's working with active mining.

One thing I do know is that, BFL is a few days away from shipping their 7 Singles which will double our hashrate.  (If my math is right)

Probably dumb to be selling this stock right now. :p

At this price I am buying more.

I think he has a good thing going with this next gen of chips.

Beat you to it!

Well I have been buying all the way down slowly, and I will keep buying. I doubt it will hit new highs until after we get either of the new chips going so I'm in no hurry and looking for the best price I can get:)

The BFL order date was July 14 and they shipped out july 5th yesterday.  Good thing to keep an eye on.

https://forums.butterflylabs.com/blogs/bfl_jody/

[stabs]

Garr, any update?  It looks like our singles shipped?

Jalapenos: Feb 2, 2013

Little Singles: Oct. 11, 2012 pay date No LS shipped today

Singles: July 15, 2012 pay date

MiniRigs: MiniRigs for June 25 (2nd 500gh/s unit) and July 28 for 1st 500 gh/s

[redbeans2012]

Garr, any update?  It looks like our singles shipped?

Jalapenos: Feb 2, 2013

Little Singles: Oct. 11, 2012 pay date No LS shipped today

Singles: July 15, 2012 pay date

MiniRigs: MiniRigs for June 25 (2nd 500gh/s unit) and July 28 for 1st 500 gh/s

Just saw that, I think that means cog will be doubling the hashrate within a couple days.

[cw92]

Update on the singles?

[stabs]

Has anyone heard from Garr?  I sent him a private message with no response, it looks like he was logged into the forums last night.

[blackswan]

Has anyone heard from Garr?  I sent him a private message with no response, it looks like he was logged into the forums last night.

Darn I was hoping for news on the singles.  We should be getting them very soon?

[drewmsmith]

Has anyone heard from Garr?  I sent him a private message with no response, it looks like he was logged into the forums last night.

He is really busy this week. He said he should be around more next week.

Did he have anything to say about the BFL order that should have been shipped to him earlier this week?  You know,  that one we've been waiting over a year for.

[investr]

I'm sure it'll get there when it gets there 

[drewmsmith]

I'm sure it'll get there when it gets there 

While that's true,  I don't think it's unreasonable to seek a confirmation from garr.

[Garr255]

Hey all,

First thing, I apologize for my lack of response recently. I've been extremely busy moving to college and getting situated here. Now I'm getting settled, and the situation for Cognitive is better than ever.

I have leased a large warehouse solely for the purpose of bitcoin mining, which means Cognitive will be able to expand now more than ever. This is crucial timing taking into consideration the introduction of the new 28nm and under chips being shipped this December. And that brings me to our next point:

I am in the process of securing a bulk order of chips from the company CoinTerra. As of now, I am the only one running a mining company that has access to the chips at such a low price. We will be undercutting the retail price significantly.

The fact that these two events are happening in perfect timing, it only makes sense to release the additional 600 COG.F2 contracts.

So, as of this post, the additional 600 contracts are listed for sale. Pick them up here: https://btct.co/security/COG.F2

The 600 contracts will raise a total of BTC3000, which will enable us to purchase nearly a nearly a petahash of hardware within a few months (1,048,576 gh/s). Projected revenue for this is quite tremendous, so personally, I will be further increasing my stake in Cognitive tonight as well

If you have any further questions, please post and I will be happy to answer.

Best,
Garrett

[redbeans2012]

Hey all,

First thing, I apologize for my lack of response recently. I've been extremely busy moving to college and getting situated here. Now I'm getting settled, and the situation for Cognitive is better than ever.

I have leased a large warehouse solely for the purpose of bitcoin mining, which means Cognitive will be able to expand now more than ever. This is crucial timing taking into consideration the introduction of the new 28nm and under chips being shipped this December. And that brings me to our next point:

I am in the process of securing a bulk order of chips from the company CoinTerra. As of now, I am the only one running a mining company that has access to the chips at such a low price. We will be undercutting the retail price significantly.

The fact that these two events are happening in perfect timing, it only makes sense to release the additional 600 COG.F2 contracts.

So, as of this post, the additional 600 contracts are listed for sale. Pick them up here: https://btct.co/security/COG.F2

The 600 contracts will raise a total of BTC3000, which will enable us to purchase nearly a nearly a petahash of hardware within a few months (1,048,576 gh/s). Projected revenue for this is quite tremendous, so personally, I will be further increasing my stake in Cognitive tonight as well

If you have any further questions, please post and I will be happy to answer.

Best,
Garrett

Nothing from BFL?  Weren't the Cognative orders on July 14?

[Garr255]

Nothing from BFL?  Weren't the Cognative orders on July 14?

Actually, they were in July of last year, 2012! Still nothing from BFL unfortunately.

I will keep urging them to process our order of course but there is much more opportunity in the new chips arriving in a few months anyway

[redbeans2012]

Nothing from BFL?  Weren't the Cognative orders on July 14?

Actually, they were in July of last year, 2012! Still nothing from BFL unfortunately.

I will keep urging them to process our order of course but there is much more opportunity in the new chips arriving in a few months anyway

Do you remember the date they were ordered? it seems they are on July 22 orders.  I agree the plan for the end of the year is great, but nothing like doubling your hash power right now. :p

[medicine]

+1

Watching closely to see how cogf2 contracts sell.  The last batch went quite quickly.

[arctos]

How is cog.f being handled considering the recent uproar with avalon?

[lightlord]

https://btct.co/security/COG.F2
600 for 3,000 BTC.
Which will yield 1,000 TH.

Am I reading this correctly?

Lets say a person invests 30 BTC hypothetically.
Does that mean he will be entitled to 10 TH of mining power?
Or am I reading this wrongly?

And at what approximate date?

Geesh, I should cancel my 5 orders of Hashfast.
And throw 280 BTC into this. And that yeild me
about 90 TH from 2TH I would of gotten from Hashfast?

I must be missing something.

List to what he just said because he is right on.  When investors know where their money is and can see the value of the share today it builds great confidence.  I'm also interested in investing in your IPO.

Thanks. I am definitely going to do what he's suggested!

[dvdrewritable]

Lets say a person invests 30 BTC hypothetically.
Does that mean he will be entitled to 10 TH of mining power?
Or am I reading this wrongly?

No because there are existing shareholders, and you don't get mining power (it's not a PMB), you get shares. Also part of the mining revenue is kept for future reinvestment. I think it's better that way, but then, do your own calculations.

1PH for 3000BTC? It looks like that's 0.5% cost of buying 1PH retail in batches of 5 - with a 6 million USD discount?. Am I calculating something completely wrong here?

It's chips, not complete machines, as I understand. Though the chips are likely most of the cost.

even talking chips only in amounts of 50pcs - 25T/H (highest publicly listed) comes to BTC1175, you'd need 40 batches for a P/H or BTC47000 so that's a discount of BTC44,000 or $5,232,000.

[theterabyte]

Today, COG has 10420 shares and ~500GH.  Once the BFL equip arrives, that'll be about 1TH.

There are (100*20=) 2000 future shares in COG.F and (700*20=) 14000 future shares in COG.F2

After BFL equipment, today's COG share will earn 50% dividends on (1000GH/s / 10420) => 96MH/s, or about (50% of 0.0049 BTC=) 0.0025 BTC per week, or an annualized return of of 0.13BTC (41% of value as of this writing).

if COG.F *and* COG.F2 both were realized, and COG.F added zero hashing power (not including it because I don't know how much hasing power we have ordered and things look uncertain we will ever get it), and COG.F2 added 1000 TH/s, we would have:

10420 + 2000 + 14000 = 26420 total shares
1001 TH/s total hash power

Each share would get 50% of the dividends from (26420 / 1001 =) 26.4TH/s

If this happens in december, *and* difficulty continues to raise 30% every 2 weeks, difficulty would be (65mil * (1.3**8 ) = ) 530 mil by end of december.  At this diff, each share earns (26.4TH @530mil => 25BTC/day =>) 87BTC/week.

It seems unlikely cognitive can dump 1PH/s on the network without the network growing by an even larger amount, so let's suppose the diff is 10X higher than current exponential projections.

26.4TH/s @ 5.3bil => 2.51 BTC/day => 8.785 BTC/week.  Still an insane div.

Even if the network is 100 times its current size in just 4 months, if we had 1000TH/s each share would earn 3x its current value in dividends each week.

So there's some numbers I made up for you.  Anyone see any mistakes?
EDIT: sunglasses in my equations