investr
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April 22, 2014, 12:48:50 AM |
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okay i might be wrong about MP being involved with icedrill/petemex.
So it's in a legal contract with the hosting if they don't get paid then units start getting offset to them.
a $25k hosting contract was agreed with the icedrill hosting based on out max capacity, but this never reached them.
they still want paid for the contracted amount regardless of the usage or not.
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investr
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April 22, 2014, 12:49:15 AM |
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When I contacted him asking if he needed my help with hosting, or if he was willing to sell the units to help recover funds for Cognitive. I was told the units were 20 BTC each and he wasn't willing to negotiate a deal to allow me to bail out anyone who may want to continue on with a more worthwhile Bitcoin mining project.
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mikaeldice
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Activity: 29
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April 22, 2014, 02:03:39 AM |
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Cognitive Mining LLC is no longer liable for any past or present action or involved in the management of this project in any way. It is fully within the rights of Cognitive Mining LLC to find a new operator and resign.
haha. If only it were so easy.
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silverfuture
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central banking = outdated protocol
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April 22, 2014, 02:42:27 AM |
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http://bitcoinmagazine.com/5893/an-interview-with-mentor-palokaj-of-bluevpn/Same Mentor? We've been screwed over royally by your actions Garrett. Those who bought lowball shares recently might even do ok with liquidation but those of us who have held for over a year or bought cogf or cogf2 are only realizing huge losses any way you spin it. I doubt many of us are going to just roll over and take it. We will get organized lawfully and come after you Garrett. Better break out your Casascius coins or something because just liquidation is not likely to cover it.
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El Cabron
Gnomo
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Activity: 840
Merit: 1000
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April 22, 2014, 02:59:58 AM |
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Can some one I sent all the tracking numbers to post the document online for all to see or is someone willing to do so?
If so send me an email. Thx
It is time for everyone to see Garrs lies and fail.
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tycho
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April 22, 2014, 03:53:48 AM |
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I had plans to have 1mw+ of power online in November, hosting for a friend who made a large hardware purchase, so this should not have been a problem. Said purchase was delayed into May 2014 and the datacenter refused to set up temporary hosting so we had to scramble to find a place for them. Now they reside in Icedrill. With regard to Goat: He and I did not reach any such settlement and he, yet again, is lying in order to stir things up. I simply do not have the funds to buy shares back; Even after I am compensated for the hosting when I paid for it out of pocket (as specified in the motion), I'm coming out of this with very little money at all.
You paid $9,000 to some data center out of COG funds before you were allowed to do so, and now you're saying you paid it out of pocket?
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zero3112
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April 22, 2014, 04:42:39 AM |
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I don't know what the ipo price was but even in USD I am taking huge losses. Dividends have continued to be withheld from time to time and the dividends don't add up with the hash rate that is mining. We should be generating way more then the dividends paid out even after taking out the 50% for the reinvestment fund. There's so much money missing, unaccounted for and getting shaved off and stolen that its obvious.
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zero3112
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April 22, 2014, 05:13:27 AM |
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I originally bought around 37 BTC which I bought for 95 dollars each for a total of 3,515 USD
I then spent 24.6 BTC and bought 41 shares for 0.6 each in July. Later on I bought some COG.1 and COG.2 got around 1 COG.1 and 4 COG.2 for a total of 12.4 BTC. Later on COG.1 and COG.2 shares converted to regular shares and I got 100 shares.
Effectively this means I got 141 shares for 37 BTC.
41 shares at 0.6 BTC each = 24.6 BTC and 100 shares at 0.124 BTC each = 12.4 BTC
141 shares liquidated at 0.01 = 1.41 BTC times bitcoin price of 500 = 705 USD.
Total bitcoin loss 35.59 BTC. Loss equated to USD 2,810 dollars.
Even liquidated at 0.02 for 2.82 BTC times bitcoin price of 500 = 1,410 USD which still equates to a total loss of 2,105 USD. Still a loss of more then 50% in USD.
This whole asset is an epic fail it not only losses bitcoin but manages to loss USD too. There's no way anyone came ahead on this.
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stabs
Member
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Activity: 109
Merit: 10
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April 22, 2014, 05:31:35 AM |
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This whole asset is an epic fail it not only losses bitcoin but manages to loss USD too. There's no way anyone came ahead on this.
I guarantee Garr did.
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jimmothy
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April 22, 2014, 05:39:16 AM |
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I did not start the company to make money (hence the minimal 10% cut), but in the spirit of education and knowledge. Hope you got a good education for a few hundred thousand dollars wasted of other peoples money. I've heard prison is also a very enlightening and educational experience.
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zero3112
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April 22, 2014, 05:45:29 AM |
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This whole asset is an epic fail it not only losses bitcoin but manages to loss USD too. There's no way anyone came ahead on this.
I guarantee Garr did. There's no way anyone came ahead on this should be re-worded to "There's no way any investors came ahead."
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freedomno1
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Learning the troll avoidance button :)
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April 22, 2014, 06:15:34 AM |
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So another fund bites the dust my condolences to those who invested it sure is hard to find a good security. If MP was still around we would see some epic trilema right now lol.
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Believing in Bitcoins and it's ability to change the world
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superresistant
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Activity: 2142
Merit: 1131
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April 22, 2014, 06:31:41 AM |
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141 shares liquidated at 0.01 = 1.41 BTC times bitcoin price of 500 = 705 USD. Total bitcoin loss 35.59 BTC. Loss equated to USD 2,810 dollars.
Even worse actually. The price per share is 0.0045 Few months ago I was thinking that Cognitive was one of my best investment lol. Thanks god I did well with other investments. But I know that a lot of people did not diversify and lost everything here. Now I know there is no one you can really trust, reputation & WOT is bullshit, anything can totally fail any time.
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snowdropfore
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April 22, 2014, 06:59:27 AM |
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what does it mean now ?are we get fuck again??fuck.
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MPalokaj
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April 22, 2014, 07:07:13 AM |
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Also, who the hell is Mentor Palokaj.
Hello Everyone, That would be me. A little clarification from my end: I have not been involved in any way whatsoever with the Cognitive Mining project. This morning ( CEST ) I figured I'd check if anyone had any questions about the liquidation on btctalk, and did not expect this storm of feces. It is by no means my (and as far as I know Garr's) intention to skirt any laws or cheat anyone. If this is under debate I understand and will accept any questions. Please do however respect some common courtesy, if you contact me please do not hide behind an anonymous email address. Cheers, Mentor
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jimmothy
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April 22, 2014, 07:29:52 AM |
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did not expect this storm of feces. How many abrupt liquidations of incompetent/failed companies have you been involved in? Are you really qualified for this?
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elasticband
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Nighty Night Don't Let The Trolls Bite Nom Nom Nom
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April 22, 2014, 08:05:56 AM |
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Just going to leave this here for you Garrett Even after I am compensated for the hosting when I paid for it out of pocket (as specified in the motion), I'm coming out of this with very little money at all. The project was initially created because I am a computer geek who enjoys the idea of bitcoin mining, and is enthused by the technology that surrounds it. I did not start the company to make money (hence the minimal 10% cut), but in the spirit of education and knowledge.
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elasticband
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Activity: 1036
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Nighty Night Don't Let The Trolls Bite Nom Nom Nom
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April 22, 2014, 08:09:50 AM |
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Hello Mentor Palokaj, Nice to know you consider your shareholders discussion the equivalent of feces, great way to insult and start a open and honest relationshiop. I don't think you understand the legal ramifications Garret is facing and the management of cognitive. Did you read all the information regarding Cognitives history before the take over? May i ask you have some common courtesy and not come in here and insult us and the words we write. Garrett had no light to transfer managment, where is the motion? Garrett or yourself has no right to choose to liquidate, where is the motion? Are you available for a meeting in Amsterdam this week? Also, who the hell is Mentor Palokaj.
Hello Everyone, That would be me. A little clarification from my end: I have not been involved in any way whatsoever with the Cognitive Mining project. This morning ( CEST ) I figured I'd check if anyone had any questions about the liquidation on btctalk, and did not expect this storm of feces. It is by no means my (and as far as I know Garr's) intention to skirt any laws or cheat anyone. If this is under debate I understand and will accept any questions. Please do however respect some common courtesy, if you contact me please do not hide behind an anonymous email address. Cheers, Mentor
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elasticband
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Nighty Night Don't Let The Trolls Bite Nom Nom Nom
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April 22, 2014, 08:14:47 AM |
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also it would be nice if we could have some contact details for yourself, perhaps even a contact email address.
Instead of you locking this topic and saying communicate over email, yet not providing one.
an we also have the full contact details for the new management
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elasticband
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Activity: 1036
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Nighty Night Don't Let The Trolls Bite Nom Nom Nom
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April 22, 2014, 08:19:56 AM Last edit: April 22, 2014, 09:37:25 AM by elasticband |
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also we as shareholders have been due financial reprots for months now, will we ever see these?
Garrett claims he is owe money for hosting, this is not true, that motion was never accepted by shareholders.
It is the managements responsibility to pay for the hosting. You are due ICEDRILL a large sum of money as the management, not cognitive shareholders.
read the contract garret sold shares based on.
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