[GPUC] GPU Coin | Mandatory Wallet Update

[svenp]

The marketplace does need to be expanded/improved a lot.  The potential for trade in used equipment is HUGE.  Could be much bigger than new card sales in the coming months and create a lot of additional demand for GPUC.  Think Ebay, minus the fee rape.

This would also keep GPUC denominated sales active even during down market times when miners are selling used equipment instead of new cards.

[wacko]

Can anyone explain the way "market" works (at gpucoinstore.com)? If I want to buy something from there, is there any protection at all? If I pay in gpuc to the seller and he just disappears after receiving the coins, that's that — money just lost?

[hendr1x]

The marketplace does need to be expanded/improved a lot.  The potential for trade in used equipment is HUGE.  Could be much bigger than new card sales in the coming months and create a lot of additional demand for GPUC.  Think Ebay, minus the fee rape.

This would also keep GPUC denominated sales active even during down market times when miners are selling used equipment instead of new cards.

Well I'm definitely willing to work to improve it.  The current setup has some unique ability (validations / escrows / seller ratings etc.) which I hope will get people interested / provide better security.  I used dogemarket a fair amount and got scammed a few times.

The escrow system (http://www.gpucoinescrow.com) is linked to the market (though you can use it stand-alone without any account) to prevent scams...but not all types...you always have to be careful.

[madbit1000]

Exchange won't matter. Lifeblood is in the flow of the product off the shelves, and the restocking. People need to be using the coin. I realize this discussion is coming from people not having enough coin to make a purchase (at least, some folks), but there are folks who do have plenty of coin and are simply holding.

To be honest if you look at the price in the store and upvert it to USD, it's a good deal on many cards. I'm surprised someone isn't simply buying GPUC, buying the cards, and then reselling.

I'll be honest, I've considered doing that since I can pick the cards up from GPUCoin himself.

I agree with you, people need to use the coin. We need to expand past just selling GPU's though. As I stated on an earlier post, GPU prices are starting to decrease, the market isn't as strong as it was a few months ago. By selling gift cards cheaper etc we can create a demand to a whole new different population, not just those who are seeking GPUs. That's where the GPUcoin supporters can come in and use their connections and see what they can bring to the market.

I think the marketplace is great, but it needs to be expanded.

Everyone's ideas are awesome, I sense that people that are still left in this forum and thread want this coin to succeed.

Don't worry, we are all still looking in from time to time and doing our bit on votes etc..

[reesev]

have you guys thought about hiring some people for PR and pay them with some of your GPU that you have collected?  this coin needs a serious PR push.

Also i know alot of you are saying we need to be listed over at mintpal.  If we can come up with 8 btc as a community we can purchase our spot on mintpal.

[NickPortland]

have you guys thought about hiring some people for PR and pay them with some of your GPU that you have collected?  this coin needs a serious PR push.

Also i know alot of you are saying we need to be listed over at mintpal.  If we can come up with 8 btc as a community we can purchase our spot on mintpal.

Only kids at McDonalds raised by crack heads would say such a thing!

Lol, this guy.

[reesev]

have you guys thought about hiring some people for PR and pay them with some of your GPU that you have collected?  this coin needs a serious PR push.

Also i know alot of you are saying we need to be listed over at mintpal.  If we can come up with 8 btc as a community we can purchase our spot on mintpal.

Only kids at McDonalds raised by crack heads would say such a thing!

Lol, this guy.

Wasnt it you a few post back singing about the lack of PR.. could we be brothers? ohhhnoes


Lol, this guy.

[Saopaulo101]

As much as I love the idea of this coin, it is unfeasible to mine at the moment:

1x r9280x = 6,185,292 GPUcoin ?

I managed to mine 750,000 in 2 weeks with 3x R9 280x, which run at around 1000 W combined, this would average at around £120/mth in power.An R9280x retails In the UK for £240. Hence, I would need to be able to mine 6,185,292  in 2 months to break even, but would only be able to manage half that .

it would take me around 4 months, if difficulty remains low, to buy 1 r9 280x, but would cost me £480 in power.

This may be why people are jumping ship.

[Flomess]

Then just buy  
The more the coin gets value the less the gpus cost

[NoobSauce]

holy crap you pay too much for power.. ive been watching my power bill since I got 4-5 cards going, only 3x 270x and 1 270 in one rig and another rig for gaming/mining in downtime with a 270 and its only gone up like 4$ with 3 cards and $8 with all 5...im using a EVGA supernova 1300 gold 80+ psu..  id be looking into gridseeds if I was you.. and sell me your used cards on marketplace  

[NoobSauce]

people also don't understand (unless im wrong) that when you buy GPUC from an exchange (too bad theres not a big major exchange..) the price you buy up to increases your holdings instantly to that value if you are going to use it to buy a GPU, as in you don't have to try to sell your GPUC at the going rate, its instant to the site for a video card for that rate (if it updates quickly enough). A few BTC in sales could easily sell out those remaining GPUs if a few BTC brought the price up to 40-60+ sat

Edit: I guess unless it follows only the buy orders, but again, its easily manipulated, depending on how long the site/store takes to update the price.

[kahir]

i just tweeted to poloniex to add gpuc

Poloniex Exchange ‏@Poloniex  13m
GPUC/BTC (GPU Coin) market added.


 Tips are welcome

GQrfSsAF7qPEE7QZC8maUVQj45wCeKv9V2

[PCJargon]

people also don't understand (unless im wrong) that when you buy GPUC from an exchange (too bad theres not a big major exchange..) the price you buy up to increases your holdings instantly to that value if you are going to use it to buy a GPU, as in you don't have to try to sell your GPUC at the going rate, its instant to the site for a video card for that rate (if it updates quickly enough). A few BTC in sales could easily sell out those remaining GPUs if a few BTC brought the price up to 40-60+ sat

Edit: I guess unless it follows only the buy orders, but again, its easily manipulated, depending on how long the site/store takes to update the price.

The price of the cards are based on an average of multiple exchanges, and across a time frame (24 hours?).

[spud3861]

Yay. Poloniex is a great exchange.

[SP4RK7]

i just tweeted to poloniex to add gpuc

Poloniex Exchange ‏@Poloniex  13m
GPUC/BTC (GPU Coin) market added.


 Tips are welcome

GQrfSsAF7qPEE7QZC8maUVQj45wCeKv9V2

Good news on Poloniex I've been using the exchange on and off since it opened and never had any problems.

People complaining about not being able to mine enough should work out how much it would cost you in BTC and therefore $ to purchase enough GPUC to purchase a graphics card. Don't forget as the exchange price goes up, the amount of GPUC you need comes down.

Had an idea in my head for a few days and not sure if it's worth looking at just at the moment, but we seem to be forgetting that there is a whole other market out there that buys Graphics cards the Gaming Market.

I just wondered whether it would be worth spamming PCgamer forum or similar site with links to this thread and the main site? It might drum up some more interest and GPUC buys

[waltsmith]

You know, I just thought of a great idea to get this coin rolling, all the people that read, follow, and support this coin, but rarely or have never posted here, please post and introduce yourselves! We all would love to meet you and hear any comments that you may have. Also, I personally have had 4 280x's pointed exclusively at GPUC since launch, and yeah, i'm talking I solved like 5 blocks at oakpool when the reward was still 1 coin. But, the troubles we have had are just not helping buy pressure at all. I'm considering pointing two of my cards at litecoin, dogecoin, vertcoin or some such other high volume coin that I can mine and dump and move the BTC over to put buy pressure up on gpucoin, not even necessarily buying it outright, just putting up the highest bid, and letting the dumpers sell to me. I'll probably get more coin, and boost the price. The only hesitation I have is that the network hash is so low right now. But, I'm thinking that if we watch it carefully, in a couple days we could boost the price and volume all by ourselves, even on our small exchanges,without any help, and that will bring back a few miners when the price goes up some, etc. What y'all think?

waltsmith

[micryon]

You know, I just thought of a great idea to get this coin rolling, all the people that read, follow, and support this coin, but rarely or have never posted here, please post and introduce yourselves! We all would love to meet you and hear any comments that you may have. Also, I personally have had 4 280x's pointed exclusively at GPUC since launch, and yeah, i'm talking I solved like 5 blocks at oakpool when the reward was still 1 coin. But, the troubles we have had are just not helping buy pressure at all. I'm considering pointing two of my cards at litecoin, dogecoin, vertcoin or some such other high volume coin that I can mine and dump and move the BTC over to put buy pressure up on gpucoin, not even necessarily buying it outright, just putting up the highest bid, and letting the dumpers sell to me. I'll probably get more coin, and boost the price. The only hesitation I have is that the network hash is so low right now. But, I'm thinking that if we watch it carefully, in a couple days we could boost the price and volume all by ourselves, even on our small exchanges,without any help, and that will bring back a few miners when the price goes up some, etc. What y'all think?

waltsmith

You know one idea is.. maybe we can switch over to POS, and then setup a reverse-multipool like BC..

[meh82]

Still following and supporting with my modest mining setup. Kicking myself a bit for buying in at 35 but what the hell it still may pay off. Im not a huge fan of coin hopping to build buy pressure but if it will help us get off the ground I can see trying it. On the other hand im loving the low difficulty and snagging all this coin for a change.

Meh82

[bitwarrior]

You know, I just thought of a great idea to get this coin rolling, all the people that read, follow, and support this coin, but rarely or have never posted here, please post and introduce yourselves! We all would love to meet you and hear any comments that you may have. Also, I personally have had 4 280x's pointed exclusively at GPUC since launch, and yeah, i'm talking I solved like 5 blocks at oakpool when the reward was still 1 coin. But, the troubles we have had are just not helping buy pressure at all. I'm considering pointing two of my cards at litecoin, dogecoin, vertcoin or some such other high volume coin that I can mine and dump and move the BTC over to put buy pressure up on gpucoin, not even necessarily buying it outright, just putting up the highest bid, and letting the dumpers sell to me. I'll probably get more coin, and boost the price. The only hesitation I have is that the network hash is so low right now. But, I'm thinking that if we watch it carefully, in a couple days we could boost the price and volume all by ourselves, even on our small exchanges,without any help, and that will bring back a few miners when the price goes up some, etc. What y'all think?

waltsmith

Nice comment.

I will start (if anyone has not posted yet after done typing this one)

I am bitwarrior and I am a self-confessed crypto-addict

We can try your suggestion. BAsically the market is reactionary, once they see that the price pf GPU is increasing and stablising, miners tries to focus their miners on that coin , increasing the difficulty, gaining demand on the exchange.

Poloniex and Mintpal are good exchanges, But I suggest that you also try atomic-trade.com

Thanks for hearing me out.

[Caldweld]

Hi,

My name is Bob and I am an addict.

I have been addicted to crypto since doge coin launch and have recently gone spasticly stupidily all in on a 100mh gpu farm. (yolo, if it fails i have 40+ really cool gaming machines and open a lan party warehouse!)

I started off as mine - transfer - dump now I only do it just enough to pay the electricity and lunch for the day and the rest I am holding / trading when the time is right, and right now the time is not right!

I did pull 99% of my rigs off gpuc however as I feared I would have to much coin and to much hash rate in comparison to others in the pool.

I am Melbourne/Aus based and if anyone needs some help feel free to pm me, I am definitely dedicated to this coin and would like to help out where possible. Heck even to the point of potentially being an Aus distributor of GPUs and other mining equipment for gpuc what ever it takes!

Ps, my name is T just T will do

Cheers,
T