[GPUC] GPU Coin | Mandatory Wallet Update

[scott0577]

I love the fact that former IPO investors are telling us how the coin is going to fail and trying to convince everybody it's worthless. It's like getting dating advice from an ex-girlfriend  

[illiki23]

Is anyone else having problems with the wallet on XP?

Running the client does not generate anything in the AppData folder.

It gives the genesis block error.

Tried quitting and opening again.

[SP4RK7]

I think the price for GPUC should remain fairly stable,  once the store opens up and we have some idea about how many GPUC it will cost to get one GPU.   I think the GPUC should be in some way self-correcting because anyone who buys GPUC to get a GPU is going to check it against the value of BTC and their national currency. The volatility might be more connected to BTC volatility than manipulation of the GPUC market.

The only way I see extreme volatility is if there's a lot of dumping all at once or if the GPUC store is the only place where you can find, for example, 290x GPUs.

Honestly, if you believe anyone mines that coin to buy GPUs you are just naive.

Who mines it is planning to dump it as soon as the price is profitable enough. Some of the miners bet on people that are expected buy this coin to get GPUs, but really look at it: You get GPUs quicker and cheaper on big markets than here - especially outside of north america. As said before, the whole model is a flaw, and if the creators are aware of the flaw instead of being totally naive, a scam.

That's not true though. If I can get a GPU cheaper using GPUC than using $ then I'll use my GPUC for it. There's no reason for me to dump it on an exchange and convert it to $ just to buy a GPU that's more expensive.

>implying majority of miners want GPUs

Are you really trying to greentext on a forum ?

No, I am trying to ask who they think will buy all the GPUs and why the top miners, these with huge rigs (30+ mH on scrypt-n) mining, wouldn't dump them to get BTC instead of actually buying GPUs

Maybe because the reason they have 30MH's rig in the first place is that they have always reinvested profits back into there mining set up.

GPUC gives them an easier/cheaper way of doing it, so that next time they will have a 40MH's rig

[freeloader1969]

Spread hashrate and be safe, go for p2pool!! Lots of block found
Only 0.5% Fee

P2Pool benefits:
* No registration required
* Distributed hashrate
* Immediate payouts after a block is found
* Higher payouts with transaction fees paid to miners
* No account hack possible


Address: p2phash.com:9404
Start mining within seconds! Just point your miner to p2phash.com:9404 and use the GPUcoin address from your wallet for username, the password doesn't matter.

Getting a lot of "Stratum from pool 0 request work restart" from the pool.

me too why?

I know why it happens, I just can't believe that blocks are being found that fast on the network!  Could also be a bad ping rate.  Will try different node.

[trademark]

I love the fact that former IPO investors are telling us how the coin is going to fail and trying to convince everybody it's worthless. It's like getting dating advice from an ex-girlfriend  

Yeah, the guy regrets getting a refund. Thanks for the extra shares.

[freeloader1969]

I love the fact that former IPO investors are telling us how the coin is going to fail and trying to convince everybody it's worthless. It's like getting dating advice from an ex-girlfriend  

Yeah, the guy regrets getting a refund. Thanks for the extra shares.

+1.  I was able to scoop up an additional 130K due to refunds.

[djm34]

30MH/s so it is more than 60gpu's. I think he is the guy we should contact to get cheap gpu's. 

[Jherek]

I'm guessing the GPUCoin price will be pretty close to what it costs to mine. If you have to pay more than the graphics card's price you want to buy - in electricity costs - it doesn't make much sense to mine, right?

You bring up a good point about the power costs. Actually, I had totally forgotten about the power cost to be honest. So let's toss out some data. I can personally ScryptN at around 10Mh, and it will use 7,000w/hr. If I mine for 24 hours, that's 168Kwh. If my Kwh cost is 0.11/usd, then my mining cost was around $18.50 for a day.

Speculation:

Let's say it takes 7 days to mine enough GPUC for a 270 series card. I spent $130 to pay for the electric. How much is GPUC worth at that point? The longer I have to mine for a card, the less perceived market value the coin may have based on electrical costs, because at some point electric will cost more than just buying the card outright.

Perspective:

I can get MSI R9 270's on Amazon for $150 fiat (last week's order).

This would demand GPUC be worth much, much more than it is now.

And when the price is so hight that it would become profitable to mine them for GPU, I could simply cashout and buy a stack of ASICs to mine litecoin or one of the 1000 altcoins, lowering my electricity cost by factor of 10...

[P2PHash]

Spread hashrate and be safe, go for p2pool!! Lots of block found
Only 0.5% Fee

P2Pool benefits:
* No registration required
* Distributed hashrate
* Immediate payouts after a block is found
* Higher payouts with transaction fees paid to miners
* No account hack possible


Address: p2phash.com:9404
Start mining within seconds! Just point your miner to p2phash.com:9404 and use the GPUcoin address from your wallet for username, the password doesn't matter.

Getting a lot of "Stratum from pool 0 request work restart" from the pool.

me too why?

I know why it happens, I just can't believe that blocks are being found that fast on the network!  Could also be a bad ping rate.  Will try different node.

It's perfectly normal with p2pool, doa rate on the node is low (<5%), your mining hashrate is as usual isn't it? It happens every time a share is found and encoded to the sharechain not for every block.

[BitOffer]

Does anyone know how many BTC was invested in the IPO?  325,000,000 GPUC is going to be paid to the IPO so that should tell us about the value the CEO thinks GPUC should be.  And it should give a rough estimate as to the cost of a GPU.  Right now, one 290 at $525 (GPUC store price) is .86BTC.

Around $40,000 in BTC for the IPO. That was when the BTC price was under $600. BTC has increased in value sense then.


$40,000 / 325,000,000 + expected mined coins total(short term)  = ____ est. value per coin

[goodluck0319]

when does maxpool.in payout?

[Abitcoinfuture]

Is anyone else having problems with the wallet on XP?

Running the client does not generate anything in the AppData folder.

It gives the genesis block error.

Tried quitting and opening again.

You have had nearly 12 years to adjust your situation, at the very least get off XP before you get hacked and robbed.  Install Ubuntu 13 it will support everything including unlimited graphic devices.

[dawj20]

when does maxpool.in payout?

It looks like they never found a block. So there's nothing to payout.

[vesperwillow]

And when the price is so hight that it would become profitable to mine them for GPU, I could simply cashout and buy a stack of ASICs to mine litecoin or one of the 1000 altcoins, lowering my electricity cost by factor of 10...

Precisely. Ultimately defeating the purpose of GPUCoin. Until ScryptN comes along in ASIC form later this year. Well wait, that would defeat the purpose as well. (see how that works?)

I'd wager I'm one of the few here with more than average ScryptN hash ability, and if you do the math like I have, what benefit for me is there to mine GPUC to buy GPUs, when I can get them for 20% below MSRP shipped next day air, with no quantity limits, using BTC?

Which is why I said, it would demand GPUC be worth a bunch, far more than the IPO value. I'm not saying it's impossible or won't become that valuable, just throwing out some real-life math for folks who maybe haven't considered it.

And if the talk of an IPO regretting refund is referring to me, I have no regrets, just like none of the other refunded former IPO purchasers. i think there were 10 of us. I bailed because I lacked faith in the owner's capability to run a business, nothing more nothing less. Others bailed for various reasons. I only bought IPO to resell it, just like is being done by some others who hold IPO right now.

I absolutely love the idea of the business model, but the lacking availability of the cards will do it in. Just a prediction. I still hope it the best, as the owner can attest, I wished him all the best.

[yodoberman]

anyone else got all shares above target? something i gotta change in the command line becouse its scrypt -n?

[illiki23]

Is anyone else having problems with the wallet on XP?

Running the client does not generate anything in the AppData folder.

It gives the genesis block error.

Tried quitting and opening again.

You have had nearly 12 years to adjust your situation, at the very least get off XP before you get hacked and robbed.  Install Ubuntu 13 it will support everything including unlimited graphic devices.

Hey asshole, my other computer is in need of repairs.  I run Ubuntu usually.  This is an old office computer I got from my parents office that I am using for the time being.

[justafool76]

this is by far the most unrewarding coin i've ever mined.
since the 2600 block i've only got 140 unconfirmed coins.

the failed launches, people having payout issues, the switch to -n after taking ipo money, no refund for the ipo, IPO coins haven't been paid..
completely frustrated with gpucoin!

sorry to here that you are getting many coins

since block 2600

ive gotten 246.29485871 GPUC

and I have I have over 80 confirmed, I am using this pool

http://gpu.poolschina.com/

and I am getting coins.

mybe try this pool and see what happens,  I think you will be surprised.

just my 5c worth

[djm34]

can someone told me who much 10 000 gpy coins worth in BTC

not much...
https://www.nxt-e.com/default.aspx?m=gpu_btc

[freeloader1969]

Current buy price on Atomic is 0.00000110 x 10,000 = 0.011 BTC

[SP4RK7]

And when the price is so hight that it would become profitable to mine them for GPU, I could simply cashout and buy a stack of ASICs to mine litecoin or one of the 1000 altcoins, lowering my electricity cost by factor of 10...

Precisely. Ultimately defeating the purpose of GPUCoin. Until ScryptN comes along in ASIC form later this year. Well wait, that would defeat the purpose as well. (see how that works?)

I'd wager I'm one of the few here with more than average ScryptN hash ability, and if you do the math like I have, what benefit for me is there to mine GPUC to buy GPUs, when I can get them for 20% below MSRP shipped next day air, with no quantity limits, using BTC?

Which is why I said, it would demand GPUC be worth a bunch, far more than the IPO value. I'm not saying it's impossible or won't become that valuable, just throwing out some real-life math for folks who maybe haven't considered it.

And if the talk of an IPO regretting refund is referring to me, I have no regrets, just like none of the other refunded former IPO purchasers. i think there were 10 of us. I bailed because I lacked faith in the owner's capability to run a business, nothing more nothing less. Others bailed for various reasons. I only bought IPO to resell it, just like is being done by some others who hold IPO right now.

I absolutely love the idea of the business model, but the lacking availability of the cards will do it in. Just a prediction. I still hope it the best, as the owner can attest, I wished him all the best.

You say you only bought the IPO to resell it, what has that got to do with the business model off the CEO and you deciding to get a refund?

IPO investors have already made 5 times initial investment if they sold now at 0.00000110