Quote from: Tafelpoot on February 24, 2014, 01:43:04 PM

Quote from: Garr255 on March 06, 2012, 06:48:18 AM

The original contract is as follows:

Cognitive Mining (asset id Cognitive) was created with the intent to give investors the opportunity to participate in FPGA Bitcoin mining without purchasing their own hardware. 100% of mining revenue will be distributed proportionally among shareholders. One share of the asset gives you one share of the revenue. Operating costs will be paid for by shares held by the operator of the asset. Each share represents a share in the ownership of the hardware. Motions to sell more shares can be raised by shareholders if 25% agree. 70% of shareholders will need to agree to issue the proposed shares. In the event of liquidation, all revenue will be distributed evenly to shareholders. The operator reserves the rights, regardless of the amount of shares owned, to raise a motion, and sell all hardware. Dividends will be paid weekly. Further information can be found at http://cognitivemining.com/

If you have any questions, comments, or criticism, I appreciate it!

Please clarify:

https://blockchain.info/tx/5e7bc1fa1c008bccd9496d24d979b2e3e7df17e8586a24f3787901eddbcea7fb

4.09573021 coins leaving from 1cogxXy to
- 1.91145049 to 1Gw8o, the Cognitive havelock deposit address. This is the 10420 shares * 0.00018344 btc dividend per share.
- 1.91145049 to 1coggh, the Cognitive reinvestment fund, now at only 11.2291 btc instead of 15.
- 0.27272926 to 1Garr255, Garrett's public personal address... but why??

The contract states that all operating costs will be covered by the operators shares. I don't see any valid reason to send Cognitive funds straight to Garretts address.
Did you not make a separate wallet for Cognitive, resulting in sending all change money to your personal wallet? Please keep personal wallets separated from Cognitives.
Any coin that goes to 1coggh, intended or not, belongs to Cognitive.

Furthermore, please explain the other spend:
https://blockchain.info/tx/fa314a18eba1ecd356cec0af2880e6834b401b241cec07ac8f0234cd4b60b244

- 3.2btc leaving from 1cogxXy to 1LQFqj?
Why not keep all funds in the 1cogxXy address?

Our demand (for months now) is that you post ALL the addresses that are used & owned by Cognitive. You don't use it for personal loans.
What is so hard about sending all mining proceeds weekly for 50% to 1cogxX (savings) and the other 50% to 1Gw8o (havelock divs), without sending the change to your personal address...
It's unbelievable that you are in bitcoin for 2-3 years and that it takes you months to get this sorted.

The last dividend was almost 5 times higher than the last 2 divs, which means 80% pct of the current hashrate is due to the new CT gear.
That gear was paid for about 90% with fresh CogF funds... which means these people deserve to get their piece right now, not when eventually half of all the ordered hash rate arrives.

Edit: it's plain simple. Any spend of btc that does not go to havelock dividends, requires an explanation and a vote. All other costs are on you. AFAIK you have plenty of shares to get around.

Hi Tafelpoot,

As Samuel said, the COG.F/2 funds will be converted before the next dividend is issued. The confusion on the transaction you are seeing is due to the fact that I've been using personal funds held within Havelock to pay the dividends ever since we started mining into the 1cogx address, hence the lack of outgoing transactions when dividends were still being paid. I moved some funds to my personal address for compensation, and will move the rest before the next dividend. The 1LQFqj address is a Havelock deposit address, and the other 1cog address is our reserve fund. The reason we cannot leave all funds in 1cogx is simple: we need to pay dividends. Perhaps you're confusing 1cogx (mining income) with 1cogg (reserve fund).

There was a fantastic charts page developed for us last week but the developer ran away before it was properly implemented in our webserver. I will try to get that working this evening, at which point http://cognitivemining.com/charts will be live.

PS, My personal wallets are certainly separate from Cognitives, I intended for the change of that transaction to go to my personal address as partial compensation for the dividends I have been paying with personal funds.

If you need further clarification on any of this, Samuel and I will be happy to answer.