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

[Garr255]

The voting is closed. Here are the results:

Yes   No   Votes  Ratio (%)

1:
447  4012  4459    11

2:
1217   3146   4363   39

3:
1407   2994   4401   47

4:
164   4222   4386   4

5:
1184   3211   4395   37

6:
1273   3187   4460   40

7:
3297   1560   4857   211

Although 7 is definitely not what I would have chosen if it were my personal choice, it is the winner and what will be done.

Because some of our funds have already been transferred to USD, I will make my best effort to get it transferred back to BTC as quickly and efficiently as possible. I will announce the mass dividend date (which will be two weeks after the funds are converted to BTC) as soon as the funds are converted.

[Garr255]

Also, it looks like we have some healthy competition, here: https://glbse.com/ipo/108

My goal for Cognitive is to expand beyond the 5000btc that they have capped themselves at.

Who would like or would not like to see Cognitive raising funds for BFLs ASIC line as soon as it is released?

[investr]

Thanks for the updates.

[GeoRW]

you should not have put up number 7 at all, if you don't agree with it

[Bitcoin Oz]

Also, it looks like we have some healthy competition, here: https://glbse.com/ipo/108

My goal for Cognitive is to expand beyond the 5000btc that they have capped themselves at.

Who would like or would not like to see Cognitive raising funds for BFLs ASIC line as soon as it is released?

ASIC's are...risky only because the protocol could change and make the investment worthless more so than fpga or gpu.

[Garr255]

you should not have put up number 7 at all, if you don't agree with it

I wouldn't have if this was a bond where shareholders had no say... but I feel obliged to put forth any idea suggested by a shareholder.

ASIC's are...risky only because the protocol could change and make the investment worthless more so than fpga or gpu.

High risk, high reward. Because of this, I'm waiting to see what the mh/$ will be to develop a full opinion regarding ASICs.

[Garr255]

Our USD balance is going to be converted to BTC very soon. We will be purchasing from JWU42, the YABMC issuer. I'm sending a check to him tomorrow.
$2561 @ 5.6534215 = 453 BTC

The mega dividend will take place on June 23, 2012. The estimated dividend per share is 0.11234375!

[nimda]

Wow... subtract the mega dividend from the cost I bought at, and I got it for around .5 BTC/share!

[GeoRW]

Wow... subtract the mega dividend from the cost I bought at, and I got it for around .5 BTC/share!

But you could have double dividend which would raise the price maybe even more than for 0.1

[Garr255]

But you could have double dividend which would raise the price maybe even more than for 0.1

Thank you for understanding.

[Kluge]

[12:49:17 AM] Ben Malec:
I initially voted for option 7 without doing the calculations. I've done them now. "a" represents how much BTC I'd have if you did the giant dividend. "b" represents how much I'd have with 2x normal dividends.
[12:49:18 AM] Ben Malec:
Mo1 - a=192.5, b=44
Mo2 - a=233.75, b=92.4
Mo3 - a=279.13, b=145.64
Mo4 - a=329.04, b=204.2
Mo5 - a=383.94, b= 268.62
Mo6 - a=444.34, b =339.49
Mo7 - a=510.77, b =417.44
Mo8 - a=583.85, b =503.18
Mo9 - a=666.43, b =597.50
Mo10 - a=755.073, b=701.25
Mo11 - a=852.58, b=815.375
Mo12 - a=959.84, b=940.91
Mo13 - a=1077.82, b=1079
[12:49:53 AM] Ben Malec:
(both assume I make 10% monthly off dividends without accounting for the week of the month I receive those dividends, and assumes difficulty doesn't change -- it's rough stuff)


After talking with Garr, it seems the x6500s would lead to ~40% increased dividends per week (~10GH/s total vs. 7.2GH/s), not 2x. But, it's still worth considering the options far more closely than I originally did. I'm sorry for the relatively thoughtless vote. May request a re-vote when I do numbers on the different boards.


w/X6500s (7.2GH/s -> 10GH/s):
Mo1 - a=192.5, b=30.8
Mo2 - a=233.75, b=64.68
Mo3 - a=279.13, b=101.95
Mo4 - a=329.04, b=142.95
Mo5 - a=383.94, b=188.05
Mo6 - a=444.34, b =237.66
Mo7 - a=510.77, b =292.22
Mo8 - a=583.85, b =352.24
Mo9 - a=666.43, b =418.26

BFL singles (7.2GH/s -> 12.19GH/s [keeping in mind Garr pays for electricity])
Mo1 - a=170.5, b=37.4
Mo2 - a=187.55, b=78.54
Mo3 - a=206.3, b=123.79
Mo4 - a=226.94, b=173.57
Mo5 - a=249.63, b=228.33
Mo6 - a=274.59, b =288.56
Mo7 - a=302.05, b =354.82
Mo8 - a=332.255, b =427.7
Mo9 - a=666.43, b =507.87

Conclusion: Singles would be the preferable non-dividend option, given Op pays for electricity, IF Singles could be delivered within a few months. A single would likely take ~5-10 weeks to deliver, while x6500s can be delivered within a week or two. However, even with the time delay, it would be far preferable to shareholders (perhaps not Garr's "electricity shares") for Cognitive to order Singles.

However, because it would likely take well over a year (in my particular case) for Cognitive purchasing FPGAs vs. paying a giant dividend to be preferable, I believe it to be the rationally-superior option for me to choose option 7, and thus will not change my vote.

ETA: OTOH, Cognitive's been "diluted" 28% for what can increase dividends 70% (after ~2 months' wait). The IPO was a huge gain for shareholders any way you slice it. Relative to before the last offering, Cognitive's now underpriced, IMO, though I do think all mining "stocks" (compared to bonds) are over-priced. Hm.... Now I'm on the fence. I request a re-vote, and I'll just sit on the sidelines.

ETA2: Fwiw, I didn't post the above numbers to try suggesting what other shareholders do, just me personally (BDK, I suppose). It's not a question of whether or not it's a good idea for Cognitive to buy BFL Singles (or, to a lesser extent IMO, other boards) with the money -- that's indisputable. It's just a question of opportunity cost for myself factoring in how I view the value of tangible equity in mining organizations vs mining bonds. I posted to justify my vote.

ETA3: Changed my mind one final time, voted for the singles, against giant dividend.

[Kluge]

After about an hour editing the above post - I request a re-vote. Put them all up again and let us try again, please.

[Garr255]

After about an hour editing the above post - I request a re-vote. Put them all up again and let us try again, please.

Thank you for changing your decision!

[Garr255]

Voting will close on June 13th at 06:00 pm GLBSE time.

Here are the motions again:

1: https://glbse.com/vote/view/47

Code:

This motion is first in a series of seven motions. The motion with the best for:against ratio will be put into effect. If two or more motions have the same for:against ratio the Operator will make the decision.
Continue with the plan as initially stated, purchasing as many Cairnsmore1 boards as we are able to with the already raised capital. This is because Enterpoint will not be able to include us in the June preorder, thus will most likely raise the price of the boards. Funds will remain dormant until Enterpoint allows payment. The expected shipping time is September 2012.

2: https://glbse.com/vote/view/48

Code:

This motion is second in a series of seven motions. The motion with the best for:against ratio will be put into effect. If two or more motions have the same for:against ratio the Operator will make the decision.
(Same as first but with CD)
Continue with the plan as initially stated, purchasing as many Cairnsmore1 boards as we are able to with the already raised capital. This is because Enterpoint will not be able to include us in the June preorder, thus will most likely raise the price of the boards. Funds will be invested in a CD earning interest until Enterpoint allows payment. The expected shipping time is September 2012.

3: https://glbse.com/vote/view/49

Code:

This motion is third in a series of seven motions. The motion with the best for:against ratio will be put into effect. If two or more motions have the same for:against ratio the Operator will make the decision.
Buy as many x6500s as possible with the funds. These will be delivered very quickly relative to other options. Remaining funds after the purchase will be put into a CD earning interest.

4: https://glbse.com/vote/view/50

Code:

This motion is fourth in a series of seven motions. The motion with the best for:against ratio will be put into effect. If two or more motions have the same for:against ratio the Operator will make the decision.
Buy as many ZTEX 1.15y boards as possible with the funds. Remaining funds after the purchase will be put into a CD earning interest.

5: https://glbse.com/vote/view/51

Code:

This motion is fifth in a series of seven motions. The motion with the best for:against ratio will be put into effect. If two or more motions have the same for:against ratio the Operator will make the decision.
Buy as many BFL Bitforce Singles as possible with the funds. This is possibly a good option because of the opportunity to trade up to BFLs ASICs in the future. Remaining funds after the purchase will be put into a CD earning interest.

6: https://glbse.com/vote/view/52

Code:

This motion is sixth in a series of seven motions. The motion with the best for:against ratio will be put into effect. If two or more motions have the same for:against ratio the Operator will make the decision.
Reinvest all funds back into Cognitive. This will ultimately increase dividends per share.

7: https://glbse.com/vote/view/53

Code:

This motion is seventh in a series of seven motions. The motion with the best for:against ratio will be put into effect. If two or more motions have the same for:against ratio the Operator will make the decision.
Pay the entirety of the funds as a single dividend. The dividend date will be announced two weeks in advance, most likely creating a large price spike and unpredictability immediately thereafter.

[stochastic]

Voting will close on June 13th at 06:00 pm GLBSE time.

Here are the motions again:

1: https://glbse.com/vote/view/47

Code:

This motion is first in a series of seven motions. The motion with the best for:against ratio will be put into effect. If two or more motions have the same for:against ratio the Operator will make the decision.
Continue with the plan as initially stated, purchasing as many Cairnsmore1 boards as we are able to with the already raised capital. This is because Enterpoint will not be able to include us in the June preorder, thus will most likely raise the price of the boards. Funds will remain dormant until Enterpoint allows payment. The expected shipping time is September 2012.

2: https://glbse.com/vote/view/48

Code:

This motion is second in a series of seven motions. The motion with the best for:against ratio will be put into effect. If two or more motions have the same for:against ratio the Operator will make the decision.
(Same as first but with CD)
Continue with the plan as initially stated, purchasing as many Cairnsmore1 boards as we are able to with the already raised capital. This is because Enterpoint will not be able to include us in the June preorder, thus will most likely raise the price of the boards. Funds will be invested in a CD earning interest until Enterpoint allows payment. The expected shipping time is September 2012.

3: https://glbse.com/vote/view/49

Code:

This motion is third in a series of seven motions. The motion with the best for:against ratio will be put into effect. If two or more motions have the same for:against ratio the Operator will make the decision.
Buy as many x6500s as possible with the funds. These will be delivered very quickly relative to other options. Remaining funds after the purchase will be put into a CD earning interest.

4: https://glbse.com/vote/view/50

Code:

This motion is fourth in a series of seven motions. The motion with the best for:against ratio will be put into effect. If two or more motions have the same for:against ratio the Operator will make the decision.
Buy as many ZTEX 1.15y boards as possible with the funds. Remaining funds after the purchase will be put into a CD earning interest.

5: https://glbse.com/vote/view/51

Code:

This motion is fifth in a series of seven motions. The motion with the best for:against ratio will be put into effect. If two or more motions have the same for:against ratio the Operator will make the decision.
Buy as many BFL Bitforce Singles as possible with the funds. This is possibly a good option because of the opportunity to trade up to BFLs ASICs in the future. Remaining funds after the purchase will be put into a CD earning interest.

6: https://glbse.com/vote/view/52

Code:

This motion is sixth in a series of seven motions. The motion with the best for:against ratio will be put into effect. If two or more motions have the same for:against ratio the Operator will make the decision.
Reinvest all funds back into Cognitive. This will ultimately increase dividends per share.

7: https://glbse.com/vote/view/53

Code:

This motion is seventh in a series of seven motions. The motion with the best for:against ratio will be put into effect. If two or more motions have the same for:against ratio the Operator will make the decision.
Pay the entirety of the funds as a single dividend. The dividend date will be announced two weeks in advance, most likely creating a large price spike and unpredictability immediately thereafter.

Shouldn't there be a vote to recall the last vote (with a required quorum) and then if that passes vote on 1 to 6?

[petermeuris]

Did you move out of eligius ?
http://eligius.st/~artefact2/7/1DfGiAHbW1jV8i4ZRcFpR6CGRkWnmdYdFb

[Garr255]

Did you move out of eligius ?
http://eligius.st/~artefact2/7/1DfGiAHbW1jV8i4ZRcFpR6CGRkWnmdYdFb

Indeed. They still owe us some coins, and their payout system is slowly failing, so I wanted to get out before it goes bad.



Now all of are hashes are being directed at GPUmax and Clipse, with P2Pool as our fallback.
Because of this we will be earning a bit more per week.

[Kluge]

Shouldn't there be a vote to recall the last vote (with a required quorum) and then if that passes vote on 1 to 6?

Effectively the same would happen this way, no? To recall, vote against option seven, in favor of other options. If you don't want to recall, vote for option 7, against others. Maybe this route lacks proper formality, however. There were 1560 votes explicitly against option 7 in the last vote. I would vote for a recall only if option 7 remained an option in the future vote, so that'd make 2838 votes explicitly in favor of a recall, 2019 explicitly in favor of keeping option 7, only factoring in my change-of-heart. However, I will not be participating in this re-vote, so (going by the last vote) there would be 2019 in favor of option 7, 1560 against. I imagine option 7 will eek by victorious in this re-vote, but Idunno.

Take out my influence, and you get 1716 votes against option 3 (2nd best ratio of the motions first go-around), 1407 in favor. For option 7, 2019 in favor, 1560 against. Garr's also purchased additional shares, however...

[petermeuris]

Is there a way to see the statistics somewhere for these two mining pools ?

[Garr255]

You can't view GPUmax publicly, but here's a screenshot:



To view the Clipse stats head over to: http://bonuspool.co.cc/stats.php

And log in with case sensitive name: Cognitive