[GPUC] GPU Coin | Mandatory Wallet Update

[polarpanda]

Well, here is my problem, and I have been mining this since the start (each one).
I usually mine a coin 24/7 and sell just enough of it to cover my electric bill,
holding the rest (for gpus!). Now I can't do this anymore since the price on the
small exchanges is so low  and no buyers.  So I mine GPU coin a little and spend
the rest of the day at clevermining, wafflepool, hashcows, or middlecoin.  You
guys need to promote and get the value up, and at least a medium volume
exchange is needed so people can buy GPU coin by selling their other mined coins.

That's how it goes. As long as electricity can be turned into GPUCoins, it is roughly the max price of the coin.

If there, for some reason, was shortage of the GPUCoins and at the same EXACT time a big supply of graphics cards available, then the price might momentarily exceed the cost of creating more coins.

[d4wn0ff473]

Well, here is my problem, and I have been mining this since the start (each one).
I usually mine a coin 24/7 and sell just enough of it to cover my electric bill,
holding the rest (for gpus!). Now I can't do this anymore since the price on the
small exchanges is so low  and no buyers.  So I mine GPU coin a little and spend
the rest of the day at clevermining, wafflepool, hashcows, or middlecoin.  You
guys need to promote and get the value up, and at least a medium volume
exchange is needed so people can buy GPU coin by selling their other mined coins.

That's how it goes. As long as electricity can be turned into GPUCoins, it is roughly the max price of the coin.

If there, for some reason, was shortage of the GPUCoins and at the same EXACT time a big supply of graphics cards available, then the price might momentarily exceed the cost of creating more coins.

There will be a shortage in 457 days, the mining schedule as it appears in the ANN is only 457 days since the block rewards do not halve. So in roughly a year and a half miners will only get transaction fees, which is a fairly short schedule.

[vesperwillow]

btc-e is fantastic!

You will have better odds of solomining BTC than getting this coin listed on BTCe. They sortof have a policy against altcoins, with exception of what they consider foundational altcoins. Cryptsy is your best chance at a major exchange.

[hendr1x]

Unfortunately I don't have much time but I posted a quick response about store front pricing on the forum if anyone would like to read : http://gpucoinforum.com/viewtopic.php?f=17&t=2730&p=2817#p2817

[jimlite]

Unfortunately I don't have much time but I posted a quick response about store front pricing on the forum if anyone would like to read : http://gpucoinforum.com/viewtopic.php?f=17&t=2730&p=2817#p2817

Whatever you and the CEO decide to do, just keep in mind
that it is crucial that the value of the coin goes up, not down.
Miners are already fleeing this coin due to not being able to
even cover their electricity (yet alone a profit) and not being
any volume on any exchange.  Maybe the company should
be buying coins to get the price up, like a stock buy back.
I don't know, but this coin is going to need more miners,
more exchanges, and a lot more PR to succeed.  Personally
I think that someone said the block reward would be 20,000
for 457 days till it halves.  You really need to post the block
halving times and amounts. That seems like an awfull high
payout and a really long time till the coin becomes scarce,
and valuable.  No one wants to mine a 2 difficulty coin at
20,000/block and need like 1 Billion to buy a gpu.  People
would rather mine at 200/block and only need 100,000 to
buy a gpu. I know the math is the same, but less coins generated
makes them rarer and seem more valuable as well as have
a higher price on the exchanges unlike a scam coin at 20 satoshis.
If the coin was rare enough it could be $1/coin and only need 400
to buy a gpu. THEN people would actually buy the coin, which
is what we need.

[polarpanda]

There will be a shortage in 457 days, the mining schedule as it appears in the ANN is only 457 days since the block rewards do not halve. So in roughly a year and a half miners will only get transaction fees, which is a fairly short schedule.

Right. Lets say the day was tomorrow and all 13 Billion coins were mined. Lets also say that the price per card is 1M GPUCoins. These 13B coins would mean that evenly distributed this would lead into 13,000 "vouchers" good for a card each. Once the voucher is used it's resold (at a profit) back for someone else to use. As long as there is someone to buy the 1M CPUCoin "voucher", at the commission the shopkeeper sees fit, we have a market. So in 1,5 years we will basically have shop where you are buying hardware with money.

I really hope this project turns into something great but at the moment most can do is keep their fingers crossed.

Ps. Like I wrote earlier, what stops anyone of you from starting to accept GPUCoins in exchange for hardware right now? This way you can set a price and get things going tomorrow. If I had a spare card, I'd auction it off to see what the value of CPUCoin is ;-)

[Warning__3]

So how much do i need to mine to get a new gpu?

[jimlite]

There will be a shortage in 457 days, the mining schedule as it appears in the ANN is only 457 days since the block rewards do not halve. So in roughly a year and a half miners will only get transaction fees, which is a fairly short schedule.

Right. Lets say the day was tomorrow and all 13 Billion coins were mined. Lets also say that the price per card is 1M GPUCoins. These 13B coins would mean that evenly distributed this would lead into 13,000 "vouchers" good for a card each. Once the voucher is used it's resold (at a profit) back for someone else to use. As long as there is someone to buy the 1M CPUCoin "voucher", at the commission the shopkeeper sees fit, we have a market. So in 1,5 years we will basically have shop where you are buying hardware with money.

I really hope this project turns into something great but at the moment most can do is keep their fingers crossed.

Ps. Like I wrote earlier, what stops anyone of you from starting to accept GPUCoins in exchange for hardware right now? This way you can set a price and get things going tomorrow. If I had a spare card, I'd auction it off to see what the value of CPUCoin is ;-)

Now THAT is a good idea! GOOD PR.
Why doesn't CEO AUCTION a card for GPU coin,
post on twitter and here. GO VIRAL with the
auction and get buzz going about the coin.

[cozk]

mintpal and some of the other suggested places are sort of bum exchanges.. all the cheap crap is there.
why not just go full bore and pay to have it put on btc-e.com

if you were going to invest in building/mak6e something wouldnt you rather do it right the first time?

THIS!

Yes becasue getting on BTC-e is really easy...

GPUcoin is shit lets face it.

I'm a bag holder and i admit it.

[hendr1x]

Yes becasue getting on BTC-e is really easy...

GPUcoin is shit lets face it.

I'm a bag holder and i admit it.

GpuCoin is in it's infancy....

[yaboymarvo]

mintpal and some of the other suggested places are sort of bum exchanges.. all the cheap crap is there.
why not just go full bore and pay to have it put on btc-e.com

if you were going to invest in building/mak6e something wouldnt you rather do it right the first time?

THIS!

Yes becasue getting on BTC-e is really easy...

GPUcoin is shit lets face it.

I'm a bag holder and i admit it.

Well now that you say its shit,it must be true right? 

[jollyriffic]

mintpal and some of the other suggested places are sort of bum exchanges.. all the cheap crap is there.
why not just go full bore and pay to have it put on btc-e.com

if you were going to invest in building/mak6e something wouldnt you rather do it right the first time?

THIS!

Yes becasue getting on BTC-e is really easy...

GPUcoin is shit lets face it.

I'm a bag holder and i admit it.

throw enough money at any problem and it gets resolved.
people are talking about getting on exchanges where big players don't go, whats the point in doing that?
using the current exchanges is like putting an ice cream shop in the arctic, expecting to get rich.

if we want gpucoin to explode, this is the method to do it.

[jimlite]

Getting on BTC-E will not be possible till the coin gets REAL popular.
Cryptsy is the best they can hope for in the intermediate term.
Mintpal is the best they can and should get on now, and maybe cryptorush.

[Ritual]

mintpal and some of the other suggested places are sort of bum exchanges.. all the cheap crap is there.
why not just go full bore and pay to have it put on btc-e.com

if you were going to invest in building/mak6e something wouldnt you rather do it right the first time?

THIS!

Yes becasue getting on BTC-e is really easy...

GPUcoin is shit lets face it.

I'm a bag holder and i admit it.

throw enough money at any problem and it gets resolved.
people are talking about getting on exchanges where big players don't go, whats the point in doing that?
using the current exchanges is like putting an ice cream shop in the arctic, expecting to get rich.

if we want gpucoin to explode, this is the method to do it.

Again, I ask why part of the IPO was not put towards this. Getting on Cryptsy is (apparently) only about 0.5 BTC. The IPO was nearly 72 BTC. Surely that could have been arranged before now? Why are we voting?

Rit.

[MsCollec]

I am yet to receive my shares from the IPO  

I hope i will get your attention when i open a thread in the scam accusation and you get a bad trust in your profile

[Ritual]

I am yet to receive my shares from the IPO  

I hope i will get your attention when i open a thread in the scam accusation and you get a bad trust in your profile

Well everybody else seems to have. Why not try emailing the guy, or at least a PM before going ballistic and posting an all-red big-font fuckfest for us all to hurt our eyes on? If you want a specific pointer, @waltsmith on here seems to be in close contact with the CEO (deservedly so), and you also have @Micryon who is the dev to ask.

Use your screwdriver before you reach for the hammer maybe?

Rit.

[GPU Coin]

I am yet to receive my shares from the IPO  

I hope i will get your attention when i open a thread in the scam accusation and you get a bad trust in your profile

Did you use a temporary e-mail when you initially invested?  I sent this out yesterday to the 9 people who have yet to contact me about getting their coins.

On 2014-03-12 18:39, [email protected] wrote:
> I see that you have yet to request your GPUC from your IPO investment.
>  If you are having difficulties, please send me an e-mail so I can
> help you set everything straight to get you your coins.  If you can't
> send an e-mail to this account, please feel free to use our temporary
> account [email protected] while our e-mail servers are fixed.  Thanks
> for your continued support!
>
> Jaymes Reilly

[d4wn0ff473]

Yes becasue getting on BTC-e is really easy...

GPUcoin is shit lets face it.

I'm a bag holder and i admit it.

I don't necessarily have full faith in the concepts present. But the coin has been out for a week. I'm really sorry that you didn't make a million dollars on a coin launch but that doesn't make the coin instant shit. Investing in anything is far from a get rich quick scheme... But I will say that there are a lot of Bernie Madoffs in the crypto community you just have to be weary. Mining a coin is no skin off my back if it doesn't work out that's why I don't personally invest in "IPO's" because you should not have a public offering for something that is not proven yet. Hence why most stock IPOs are after a company proves its product is viable, what is typically labeled as an IPO in this community is actually an intial investment in a concept and "company" idea. The waters get muddied a lot because none of these coins are built with corporate structure in mind so having investors is technically illegal, but as long as the coins have no structure it will remain a grey area and continue.

[hendr1x]

Again, I ask why part of the IPO was not put towards this. Getting on Cryptsy is (apparently) only about 0.5 BTC. The IPO was nearly 72 BTC. Surely that could have been arranged before now? Why are we voting?

Rit.

Where did you get this info from?  I was wasting some time looking at how to get added and I didn't find anything other than a bunch of help threads.

For possible future use :

MintPal : https://www.mintpal.com/voting
CryptoRush : https://cryptorush.in/index.php?p=vote

[jimlite]

I am yet to receive my shares from the IPO  

I hope i will get your attention when i open a thread in the scam accusation and you get a bad trust in your profile

Don't think IPO is a scam. I got my coins Sunday night.
Try and email again with your address.