Post
Topic
Board Securities
Re: Starting a new FPGA mining farm/contract! Cognitive Resurrected on[Havelock]
by
Tafelpoot
on 25/03/2014, 16:08:30 UTC
We are about to put 30+ TH/s at 1.2 kW/TH/s = 36 kW of hardware in a data center at $0.375/kWh ... we suddenly have to pay 9k usd = 15 btc monthly while earning less than 1 btc a day... the 1cogxX mined only 24.8 btc over the last 4 months.

The difficulty is now almost 5B. At a difficulty of 25B, we are running at a loss. This will happen most likely in about 5 to 7 months.
We need to have the coming 16 difficulty jumps to be below 11% on average in order to achieve a positive ROI in terms of USD ... while chances are quite non-existing that we break-even in terms of btc.

Garrett would you be willing to be responsible for the mining part, while leaving the management part to someone else?
You were still not able to give a detailed and provable overview of the expenses and income of the last 6 months and a lot of bitcoins seem to be missing in the fund.
Some external person could produce new 1cog adresses for you to put the miners to and take care of issuing the dividends.
While it doesn't protect cognitive from you pointing the miners to personal addresses, it does safeguard the reinvestment fund from you using it for personal loans (FIMB) and other projects (HF bailout).
I'd be willing to do this and even put some of my own btc with a reputable escrow to show that I wouldn't just run away with the funds.

You have neglected Cognitive at the cost of 100s of btc in market cap and also more than 100 btc in mining revenue (50 btc in October and 50+ btc last 2 months).
What are you going to do to make up for this? Your future dividends mean little to me if we have to base our estimates on that amount on the past. There is little incentive for you to hurry up if you're about to give away your gains anyway... I want fixed numbers with double/triple digits instead of 4 weeks x 20 pct (your shares) x 2 btc ...

You bailout HashFast but you'd better bailed out Cognitive and FIMB.