[GPUC] GPU Coin | Mandatory Wallet Update

[flaminius]

In theory, the initial value of GPUC should be 71.51792382BTC / 325,000,000 coins (the IPO amount and the number of coins issued), for a value of 0.00000022 BTC per GPUC.

There will be  28,800,000 new GPUC mined every day (20,000 GPUC x 60 blocks/hour x 24 hours), meaning that the IPO holders have 11.28 days worth of coins at the outset.  This puts the IPO holders quite firmly in control of the value of this coin... anybody would be a fool to sell at less than cost, and they hold enough of the market share (still 50% of the market after 11 days) to be able to set a good sale price for GPUC.

As to actual value, as it stands right now, it sounds like the CEO was able to order 80 GPUs.  If we assume that he spent the entire IPO on them, that would leave each GPU worth 4,062,500 GPUC (325,000,000 GPUC / 80 GPUs) at most.

What happens to the value of GPUC once it hits market will be anybody's guess, but I would assume that as long as the IPO holders do not dump that the price will remain higher than 22 satoshis and GPUs will hopefully go for a couple hundred thousand GPUC instead of 4 million.

With its unique purpose of being used to buy GPUs, I don't think market cap or any other tool for comparison to other coins is useful in any way. At the end of the day, the only numbers that really mean anything are these:

How many BTC ('y') can CEO get for 'x' GPUC,
How much USD$ ('z') can CEO get for those 'y' BTC
How many GPUs ('g') can CEO get for those 'z' USD$
And fair market price = x/g (plus a bit of markup for the business)

The market will determine what it sees as a fair market price for GPUC, and the cost of a GPU in GPUC will fluctuate according to the exchange rates of GPUC/BTC/USD$, and I don't think there is any way to set a particular price point as long as those currency exchanges need to be made.

[bigjme]

I am wondering if the store will be set up to give live updates on price or not. I think it's going to be a wait and see coin.

As the store won't open till 2 weeks after the coin launch, it's in people's best interest to keep the coins. But by the time of the store opening the coin price could drop a lot and people may panic. But this is the word of crypto currency.  I just really hope this coin works out.

As a question for the devs,  do you have any rough idea on a release time? I.e. earlier in the day or later on the night?

[tylerderden]

I am wondering if the store will be set up to give live updates on price or not. I think it's going to be a wait and see coin.

As the store won't open till 2 weeks after the coin launch, it's in people's best interest to keep the coins. But by the time of the store opening the coin price could drop a lot and people may panic. But this is the word of crypto currency.  I just really hope this coin works out.

As a question for the devs,  do you have any rough idea on a release time? I.e. earlier in the day or later on the night?

I think it will, we will just make it work out . The dude isn't a wolong and is proving to be a stand up guy for the most part. That's a good start.

[bigjme]

Yeh, he seems trust worth. I've been here since the first launch and I'm still going to be here till it succeeds,  or fails. Either way this is most likely the coin I will stick with. At least until it's stupidly hard to mine because a single pool gets most the hash power

[Revelations86]

Has anyone heard back from the CEO regarding upping their IPO? Anyone know if its still available?

I just got an email that all refunded IPO investments have been purchased, so IPO is officially set now.  All that's left is a successful launch.

[trademark]

Has anyone heard back from the CEO regarding upping their IPO? Anyone know if its still available?

I just got an email that all refunded IPO investments have been purchased, so IPO is officially set now.  All that's left is a successful launch.

I upped my IPO about 30 minutes before that email. So hopefully it went through. 

[sonysasankan]

I am wondering if the store will be set up to give live updates on price or not. I think it's going to be a wait and see coin.

As the store won't open till 2 weeks after the coin launch, it's in people's best interest to keep the coins. But by the time of the store opening the coin price could drop a lot and people may panic. But this is the word of crypto currency.  I just really hope this coin works out.

As a question for the devs,  do you have any rough idea on a release time? I.e. earlier in the day or later on the night?

I think it will, we will just make it work out . The dude isn't a wolong and is proving to be a stand up guy for the most part. That's a good start.

"To pull a Wolong on someone"  

Its about time the phrase gets added to the urban dictionary...

"You just got Wolonged"... waahahahahhaha!!!

[Revelations86]

In theory, the initial value of GPUC should be 71.51792382BTC / 325,000,000 coins (the IPO amount and the number of coins issued), for a value of 0.00000022 BTC per GPUC.

There will be  28,800,000 new GPUC mined every day (20,000 GPUC x 60 blocks/hour x 24 hours), meaning that the IPO holders have 11.28 days worth of coins at the outset.  This puts the IPO holders quite firmly in control of the value of this coin... anybody would be a fool to sell at less than cost, and they hold enough of the market share (still 50% of the market after 11 days) to be able to set a good sale price for GPUC.

As to actual value, as it stands right now, it sounds like the CEO was able to order 80 GPUs.  If we assume that he spent the entire IPO on them, that would leave each GPU worth 4,062,500 GPUC (325,000,000 GPUC / 80 GPUs) at most.

What happens to the value of GPUC once it hits market will be anybody's guess, but I would assume that as long as the IPO holders do not dump that the price will remain higher than 22 satoshis and GPUs will hopefully go for a couple hundred thousand GPUC instead of 4 million.

With its unique purpose of being used to buy GPUs, I don't think market cap or any other tool for comparison to other coins is useful in any way. At the end of the day, the only numbers that really mean anything are these:

How many BTC ('y') can CEO get for 'x' GPUC,
How much USD$ ('z') can CEO get for those 'y' BTC
How many GPUs ('g') can CEO get for those 'z' USD$
And fair market price = x/g (plus a bit of markup for the business)

The market will determine what it sees as a fair market price for GPUC, and the cost of a GPU in GPUC will fluctuate according to the exchange rates of GPUC/BTC/USD$, and I don't think there is any way to set a particular price point as long as those currency exchanges need to be made.

Great analysis.  I for one will be holding my initial IPO shares for a long while as I'm looking at this for the long term.   What I like about this coin is that it won't be solely based on speculation as all the other coins are.   If this coin turns out to be a huge success, it would be the biggest come back that I've seen in altcoin history.    

[Hueristic]

it is a difficult concept but until a cryptocurrency finds a way to prevent pump and dump, no coin will truly stick around

Pump and dump happens because the products at hand have no real value, and everything just rides on pure speculation. Fiat runs solely because people accept them for goods and services....

Really? I've been mining Nobl for 2 months and buying amazon giftcards directly and buying gpu's with them and getting a 12% discount to boot. No BTC conversion fee's and no fee's for fiat change as well. I'm doing newegg cards there now as the price changed in neweggs favor for what I want.

[Revelations86]

I am wondering if the store will be set up to give live updates on price or not. I think it's going to be a wait and see coin.

As the store won't open till 2 weeks after the coin launch, it's in people's best interest to keep the coins. But by the time of the store opening the coin price could drop a lot and people may panic. But this is the word of crypto currency.  I just really hope this coin works out.

As a question for the devs,  do you have any rough idea on a release time? I.e. earlier in the day or later on the night?

I think it will, we will just make it work out . The dude isn't a wolong and is proving to be a stand up guy for the most part. That's a good start.

"To pull a Wolong on someone"  

Its about time the phrase gets added to the urban dictionary...

"You just got Wolonged"... waahahahahhaha!!!

That's comes 2nd to getting "Goxed".

[djm34]

Yeh, he seems trust worth. I've been here since the first launch and I'm still going to be here till it succeeds,  or fails. Either way this is most likely the coin I will stick with. At least until it's stupidly hard to mine because a single pool gets most the hash power

That's clearly what I fear especially since they decided to "ban" solomining by giving 0 gpu for the first 300 blocks.
For a small miner, your best chance to get a fair amount of coin is at launch time, so for me this decision sound like a big "fuck you" from the dev.

[Revelations86]

it is a difficult concept but until a cryptocurrency finds a way to prevent pump and dump, no coin will truly stick around

Pump and dump happens because the products at hand have no real value, and everything just rides on pure speculation. Fiat runs solely because people accept them for goods and services....

Really? I've been mining Nobl for 2 months and buying amazon giftcards directly and buying gpu's with them and getting a 12% discount to boot. No BTC conversion fee's and no fee's for fiat change as well. I'm doing newegg cards there now as the price changed in neweggs favor for what I want.

Where are you buying Amazon giftcards from?

[bigjme]

Exactly what I was thinking. It's about 3 hours from launch before blocks are worth anything. By then pools will be set up, and solo mining goes straight out the windows immediately

[tylerderden]

i hope its not just limited to gpu we can buy in the future w gpucoin. like tie it on other products maybe 

He has plan's for other goods too. Modular stackable cases and riser/boards that you can plug several gpu's into one pci express slot. and that's just what we know so far, who knows what else he has lined up. If it all works out it should be a pretty decent coin.

[tylerderden]

I am wondering if the store will be set up to give live updates on price or not. I think it's going to be a wait and see coin.

As the store won't open till 2 weeks after the coin launch, it's in people's best interest to keep the coins. But by the time of the store opening the coin price could drop a lot and people may panic. But this is the word of crypto currency.  I just really hope this coin works out.

As a question for the devs,  do you have any rough idea on a release time? I.e. earlier in the day or later on the night?

I think it will, we will just make it work out . The dude isn't a wolong and is proving to be a stand up guy for the most part. That's a good start.

"To pull a Wolong on someone"  

Its about time the phrase gets added to the urban dictionary...

"You just got Wolonged"... waahahahahhaha!!!

Wikipedia: To be wolonged. See : rough anal sex without lube. a new meaning to pump and dump.

[phaddie]

it is a difficult concept but until a cryptocurrency finds a way to prevent pump and dump, no coin will truly stick around

Pump and dump happens because the products at hand have no real value, and everything just rides on pure speculation. Fiat runs solely because people accept them for goods and services....

Really? I've been mining Nobl for 2 months and buying amazon giftcards directly and buying gpu's with them and getting a 12% discount to boot. No BTC conversion fee's and no fee's for fiat change as well. I'm doing newegg cards there now as the price changed in neweggs favor for what I want.

Where are you buying Amazon giftcards from?

Same Question.

[sonysasankan]

it is a difficult concept but until a cryptocurrency finds a way to prevent pump and dump, no coin will truly stick around

Pump and dump happens because the products at hand have no real value, and everything just rides on pure speculation. Fiat runs solely because people accept them for goods and services....

Really? I've been mining Nobl for 2 months and buying amazon giftcards directly and buying gpu's with them and getting a 12% discount to boot. No BTC conversion fee's and no fee's for fiat change as well. I'm doing newegg cards there now as the price changed in neweggs favor for what I want.

exactly my point... you were able to exchange your NOBL for consumable goods, because someone was ready to take them from you in exchange for a product/service they owned... anything from paying a restaurant bill, offer coupons, a truckload of toilet paper, whatever. That is the only way a coin survives.... and NOBL will stand the test of time as long as more people offer to take the NOBL from you in exchange for something they can give you for consumption....

I was talking about the hundreds of other altcoins that cannot be used to purchase anything in the real world other than the BTC of the greater fool. That is when the coin dies. GPUC cannot die as long as there exists an online store accepting GPUC, and positive testimonials of receiving the products of course

[Hueristic]

it is a difficult concept but until a cryptocurrency finds a way to prevent pump and dump, no coin will truly stick around

Pump and dump happens because the products at hand have no real value, and everything just rides on pure speculation. Fiat runs solely because people accept them for goods and services....

Really? I've been mining Nobl for 2 months and buying amazon giftcards directly and buying gpu's with them and getting a 12% discount to boot. No BTC conversion fee's and no fee's for fiat change as well. I'm doing newegg cards there now as the price changed in neweggs favor for what I want.

Where are you buying Amazon giftcards from?

It's in my siggy, I just bought these after I posted. Sorry I bought them out. They restock fast though.

[Hueristic]

it is a difficult concept but until a cryptocurrency finds a way to prevent pump and dump, no coin will truly stick around

Pump and dump happens because the products at hand have no real value, and everything just rides on pure speculation. Fiat runs solely because people accept them for goods and services....

Really? I've been mining Nobl for 2 months and buying amazon giftcards directly and buying gpu's with them and getting a 12% discount to boot. No BTC conversion fee's and no fee's for fiat change as well. I'm doing newegg cards there now as the price changed in neweggs favor for what I want.

exactly my point... you were able to exchange your NOBL for consumable goods, because someone was ready to take them from you in exchange for a product/service they owned... anything from paying a restaurant bill, offer coupons, a truckload of toilet paper, whatever. That is the only way a coin survives.... and NOBL will stand the test of time as long as more people offer to take the NOBL from you in exchange for something they can give you for consumption....

I was talking about the hundreds of other altcoins that cannot be used to purchase anything in the real world other than the BTC of the greater fool. That is when the coin dies. GPUC cannot die as long as there exists an online store accepting GPUC, and positive testimonials of receiving the products of course

I guess I mis-understood you. If you'll note Nobl Market place in my screenies is 100% is a pretty nice customer relation rating to boot.

I'm still waiting on the DEV here to explain how he's going to compensate me for the lost time on his failed launches. I could have more In that order If I hadn't wasted my systems on his failure.

[trademark]

What time is Sundays launch?