[GPUC] GPU Coin | Mandatory Wallet Update

[nanoprobe]

Check your wallet, I just got a payment - did it come from leetpools? Who knows?

Nada since 5:30 EST

[dzonikg28]

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

Check the mining profitability and make sure you mine what gets you the most in USD value and use that to exchange for GPU if you want this coin.

[ocminer]

https://gpu.suprnova.cc

With absolutely 0% Fee
The Day 1 GPU Pool
DDoS Proof
VDIff + Stratum
Look at our "Getting Started" Category on the left to configure/Download your miner


Miners, hop in and spread the hash!

[vesperwillow]

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?

Because after 5 failed launches, I wasn't convinced he or the team knew anything about launching a coin, and if it never got off the ground, I can't resell anything. I took the money and ended up tripling it with trading, so I'm happy.

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

That's good, and I have no doubt they'll be able to make more by reselling the coin. It still doesn't establish a market value.

Can anyone tell me how much GPUC 10Mh will provide over the course of 24 hours? Then you can do some basic math and establish what GPUC should be worth vs what it is worth.

[cvax]

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.

Your electricity cost assumption is VERY understated. Don't forget tiered electric rates which mining definitely breaches. In California you are looking more at ~$0.34/Kwh.

In the Bay Area you only get $0.13 rates for the first ~330Kwh per month which you will breach within 2 days. Rates then jump to $0.15/Kwh for the next 100Kwh and then $0.32/Kwh for the next ~230Kwh then $0.36/Kwh for the rest. Within a week you will be paying $0.36/Kwh. Triple the costs. With that setup you are talking about expenses of 5208Kwh for a spectacular $1768.78 per month. Mining only makes sense economically if you can sell your coins to offset your electric bill and still have enough hashing power to pocket more coins than you have to sell. At the current exchange rates of 0.000001 for maybe 2.5million coins acquired in a month you're looking at maybe 2.5 BTCs per month income. That is $1562.50 at $625 BTCUSD. No profits. You'll only break even if BTC goes up or the exchange for BTC goes up.

Oh and let's also remember that there is no way you'll actually be able to dump 2.5mil coins lol.

[HackaB321]

Could you post vertminer r9 290 settings?
Thanks

[THeZoiD]

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?

Because after 5 failed launches, I wasn't convinced he or the team knew anything about launching a coin, and if it never got off the ground, I can't resell anything. I took the money and ended up tripling it with trading, so I'm happy.

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

That's good, and I have no doubt they'll be able to make more by reselling the coin. It still doesn't establish a market value.

Can anyone tell me how much GPUC 10Mh will provide over the course of 24 hours? Then you can do some basic math and establish what GPUC should be worth vs what it is worth.

about 10k per 1mh/s

[Jherek]

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 actually don't even need scrypt-n ASICs to be profitable, mining Litecoin with enough ASICs can be already profitable enough, since you can have more than 10 times the hashrate/watt (2 gridseed equals roughly one 280x but with less than 30w). Means, that would bring me 50MH now with same powercost.

[scorpio18]

I mine on my own p2pool , i dont get to much coins, i have a low hash rate , just 6KH/s LOL ) who want to mine on my pool this is the address http://gpucoinpool.zapto.org:9404 or ip http://193.219.117.63:9404
This is what i mined : ))))

[gsupp]

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

How??? MSI R9 270s are at least $250 on Amazon when I search and I haven't seen them below $200 since last year.

[gnomegawd]

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?

Because after 5 failed launches, I wasn't convinced he or the team knew anything about launching a coin, and if it never got off the ground, I can't resell anything. I took the money and ended up tripling it with trading, so I'm happy.

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

That's good, and I have no doubt they'll be able to make more by reselling the coin. It still doesn't establish a market value.

Can anyone tell me how much GPUC 10Mh will provide over the course of 24 hours? Then you can do some basic math and establish what GPUC should be worth vs what it is worth.

80,000 but now perhaps only 65,000 difficulty makes big changes.

[djm34]

I mine on my own p2pool , i dont get to much coins, i have a low hash rate , just 6KH/s LOL ) who want to mine on my pool this is the address http://gpucoinpool.zapto.org:9404 or ip http://193.219.117.63:9404
This is what i mined : ))))

You are a bit late for p2pool, in order to get better payout, you should have started to mine several hours before the block 2600 was out.

[kalashnikovski]

Is price likely to drop once IPOs start getting their payouts and then jump back up as some rebuy for cheaper prices ?

[xploreredfusion]

EU P2POOL
http://xploreredfusion.no-ip.biz:9404

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8 GB RAM
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JOIN NOW! ALREADY 100 Mh/s!



http://xploreredfusion.no-ip.biz:9404-u "YOUR ADDRESS" -p x
http://93.58.32.234:9404 -u "YOUR ADDRESS" -p x

• No registration. Point your miner and go!
• Automatic payout every block, increasing over the time
• Our node found a block with just 1 Mh/s!

[binaryclock]

OTOH, if you join the biggest pool, you basically attack the blockchain - if someone has over 50% of nethash (in fact, more accurately, if they have anywhere near 50%, so even 30% is bad) then the coin is fundamentally untrustworthy at that point - no-one can know without forensically analysing the blockchain that bad stuff hasn't been pulled off - that is terrible for the value of any coins you mine.

Wow.  This is what happens when people that have no idea what they are talking about, try to talk about something.

Funny though - had a good morning laugh.

baaaaddddd stuff.  Much technical.  Very trustworthy.

[vesperwillow]

Your electricity cost assumption is VERY understated. Don't forget tiered electric rates which mining definitely breaches. In California you are looking more at $0.36/Kwh.

In the Bay Area you only get $0.13 rates for the first ~330Kwh per month which you will breach within 2 days. Rates then jump to $0.15/Kwh for the next 100Kwh and then $0.32/Kwh for the next ~230Kwh then $0.36/Kwh for the rest. Within a week you will be paying $0.36/Kwh. Triple the costs.

I went with what my electric cost is. Your value will of course vary. I'm locked in at 10.5c/kwh in winter, 11.5c/kwh summer. One of my partners is in California, and I hear him curse the costs out there all the time. He's starting to switch his farm to Scrypt this week. As we speak actually. We've negotiated a near-wholesale deal for Scrypt systems.

You actually don't even need scrypt-n ASICs to be profitable, mining Litecoin with enough ASICs can be already profitable enough, since you can have more than 10 times the hashrate/watt (2 gridseed equals roughly one 280x but with less than 30w). Means, that would bring me 50MH now with same powercost.

You don't need Scrypt to be profitable either. After covering electric costs, I'm still raking BTC in with my GPU farm, and enjoying the heat as well. My point was that mining for GPUs is only profitable if GPUC is significantly more valuable than it is now. Which might occur one day.

about 10k per 1mh/s

Thank you. So let's say 7.5k/1mh as another poster mentioned a similar figure based on difficulty. Let's speculate:

If I mine 75k GPUC in 24 hours, and GPUC is worth 0.00000115, then that's .25875btc (presuming btc = 670usd). If the store owner worked to get a deal as good as Amazon gets, he could sell a 270 for exactly that cost.

Now as a miner, it cost me $55 in electric to earn that. So in reality for the 225,000 GPU purchase, I actually need to mine 296,000 GPUC to cover all costs. What I could've done was simply trade 225k GPUC to BTC, and then BTC->Amazon, and get the card that way.

Totally circumvents the business frontend, which is required to sustain GPUC. (edit:) Which is why i said earlier, it would demand that the market value of GPUC still be far above what it is presently.

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

How??? MSI R9 270s are at least $250 on Amazon when I search and I haven't seen them below $200 since last year.

Last Monday Amazon got one of its weekly shipments of GPUS. MSI R9 270's were $171 Prime. Factor in my 15% discount (which anyone using BTC can get), the cards were $145. Add $4 for overnight delivery, and it's pretty much $150/card. With no quantity limits.

You have to be quick on the draw. I'm constantly refreshing Amazon inventory to see what's available. What usually gets leftover are the Amazon 2nd and 3rd party resellers, which can set the card at any price they want. $200.. $300.. etc.

(edit:) Let me put it this way, 3 weeks ago when MSI 270 came in stock at $190, Amazon received a truckload of them. Several hundred to say the least. In 6 minutes they sold out, and 1 minute after that they sold out of their backorder limit. 2 weeks prior to that I saw them sell out of 250 cards in 60 seconds. I was part of that.

[Sharky444]

Is anyone able to email [email protected] or [email protected] without getting error messages?

[kcheel]

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

What is your hash rate?  I have my 2 mining rigs at my store location but just my luck, the internet went out before block 2600 and they were offline all night.  So I mined with just my home system that has a 270 and 270x in it.  They get about 240kh each and it mined 1500 GPU overnight.  Got my 2 main rigs running a couple of hours ago and have now mined over 4k more since then.  Would be more than that but my main rigs still are not quite right.  Keep getting sick/dead GPU after 20-30 minutes, so have had to stop them several times and tweak settings.

[cvax]

Totally circumvents the business frontend, which is required to sustain GPUC. (edit:) Which is why i said earlier, it would demand that the market value of GPUC still be far above what it is presently.

Agreed. GPUC's proposition at the current rates is, at best, breakeven versus electricity. I would only recommend mining this coin with a small portion of ones hash power. Anything more is an all-in gamble because opportunity costs are very high. Many much more profitable things to be mining instead.

[dbzenhosting]

I wish i kept my IPO., but i got a refund. Could have had 270K coins. I though it was going to a scam coin after launched failed 3 times. Now im hitting my head.

Please feel free to donate GcXb1EmsDDtnjmN9VkqqeMfeYatDbdRc6T