[GPUC] GPU Coin | Mandatory Wallet Update

[Psynthax]

Yes it will be mined, but miners will move in and out quickly and your network will not gain growth momentum since it is so fast, you can mine market cap quickly while nethash is low and move on.. you can`t build up network that way.. only if the whole crypto-community jumped from start which is unrealistic expectation.. you need TIME so word can spread... I mean 6 months halving, do you expect everyone to know about coin from day 1?

yes it will take time to recover, but it will be ruined immediately, and people could leave to mine more profitable coin.. which means it will not recover in that case..

[silverfern]

I`ve sent mail to CEO that he didn`t reply to.. IMHO it is a technical problem with coin economy.. coin is too fast in relation to business growth.. it will even out eventually as business grows..

IMHO fast coin does not encourage miners to stay on the network to protect it over long period of time..

I agree the coin economy is misaligned with business growth at present... it's kind of a scary downwards spiral atm.

You know.. we could hard-fork this coin and reduce rewards or change rewards schedule, as needed... could still pull it off at this point given low adoption rate.  Just requires everyone to updated their clients.

 

I agree we need to do something, but others have a point about the direct market manipulation. But if it needed to be done, this is the best time. There is just too many coins available at the moment, which people can just mine and dump easily.

I don't know if it were to make a difference if we reduce the rewards, would it?

[koelen3]

Do u ship in europe

This may have some more attention.
Could someone please give an answer to this question please?

[PCJargon]

Do u ship in europe

This may have some more attention.
Could someone please give an answer to this question please?

I believe you just need to pay more GPUC...

I found a post on another site that says "Overseas shipping will be extra."

[PCJargon]

The real issue right now is that GPUC isn't on any established/quality exchange. Mint vote mint vote mint vote mint vote mint vote! (Do not use cryptorush)

[dukeneptun]

Changing economy in this coin is not a good idea...
It really needs some casino....

[bananahunter67]

Aaaaand, the current buy pressure is what comes from being at the top of the coinwarz list. All the mine-n-dumpers hit and roll once the buy pressure is gone.

waltsmith

Hey buddy,
I can see you have included the signature, however, to officialy register to the contest and get tracked, please, post in the thread: https://asktom.cf/index.php?topic=550206

@ anyone else: come on, 4 graphic cards are waiting for you, register and adjust your signature!

[jimlite]

I've been saying for a while that 20,000/block at 3 difficulty is just producing too many coins.
Sure it may be psychological, but people would rather buy a gpu with 10,000 coins than 10,000,000.
And they would rather buy or sell gpuc for .0001 btc than .00000010 btc.  I think it is not too
late for a halving of block rewards.  Max coin just did it last week and everything went fine. But
all coins are in a downtrend now.

[Psynthax]

It really does not make a difference how many coins there are, but the rate at which new coins are produced or block time does

[silverfern]

I've been saying for a while that 20,000/block at 3 difficulty is just producing too many coins.
Sure it may be psychological, but people would rather buy a gpu with 10,000 coins than 10,000,000.
And they would rather buy or sell gpuc for .0001 btc than .00000010 btc.  I think it is not too
late for a halving of block rewards.  Max coin just did it last week and everything went fine. But
all coins are in a downtrend now.

I saw Maxcoin doing it last week as well. I thought it was a bad idea for them to do it.... I didn't think it went all that bad lol...

I keep voting, telling my friends about the coin, there's at least some marketing with free GPU's etc, but there isn't as much interest. :9

[jollyriffic]

i dont think we should make any changes till the BTC/LTC markets stabilize for a week or two.
with china rumors and the IRS things are just shook up right now.

[jollyriffic]

I've been saying for a while that 20,000/block at 3 difficulty is just producing too many coins.
Sure it may be psychological, but people would rather buy a gpu with 10,000 coins than 10,000,000.
And they would rather buy or sell gpuc for .0001 btc than .00000010 btc.  I think it is not too
late for a halving of block rewards.  Max coin just did it last week and everything went fine. But
all coins are in a downtrend now.

I saw Maxcoin doing it last week as well. I thought it was a bad idea for them to do it.... I didn't think it went all that bad lol...

I keep voting, telling my friends about the coin, there's at least some marketing with free GPU's etc, but there isn't as much interest. :9

did them doing that make the coin more valuable?

[micryon]

To clarify, the difficult doesn't change the amount of coins produced.. only in it's distribution (instead of 100 people getting it.. it's like 10 guys getting it) ; and the electrical/capital cost to acquire the *same* amount of coins.  If the difficulty is higher, it just means it cost more for people to get coins through mining.. but the exactly same # of coins are created.

The only way to lower coins created, is the hard fork the code and change the function to create less coins per block.


I think that option can be put on the table.. even though yeah it does suck in a way... but doing so would curb inflation.

It would need to be an executive decision from Jaymes (the CEO of this coin), to take that route.

But, I can do the changes as needed...

[illiki23]

I do hope Jaymes does make a decision based on what would benefit the investors rather than just himself.

Jaymes makes money regardless.

Right now though investors have lost a lot of money, those of us who did not dump and held on atleast, and we are the ones who funded this entire thing.

Jaymes, as the CEO, should do everything in his power to address the problems investors are having - including the excessive amount of coins entering the market and low price.  Even if this means making adjustments to the coin.

Ideally investors would end up getting an amount of coins worth at least the wholesale cost of the equipment.

Unfortunately this is not happening, and I have the strong suspicion that Jaymes does not really think much about the investors and is focused on himself and 'his' business.

[Psynthax]

What I think would be the best is not to change block rewards but block time, it will lower inflation and extend mining period of a coin.. coin is too fast..

But hey, I don`t think no one ever tried something like this before.. it is OK to make a mistake, but it needs to be fixed and we can watch the experiment unfold..

I didn`t invest, just mining/buying.. but I think investors need to decide not CEO, without investors there would not be any CEO...

[silverfern]

I've been saying for a while that 20,000/block at 3 difficulty is just producing too many coins.
Sure it may be psychological, but people would rather buy a gpu with 10,000 coins than 10,000,000.
And they would rather buy or sell gpuc for .0001 btc than .00000010 btc.  I think it is not too
late for a halving of block rewards.  Max coin just did it last week and everything went fine. But
all coins are in a downtrend now.

I saw Maxcoin doing it last week as well. I thought it was a bad idea for them to do it.... I didn't think it went all that bad lol...

I keep voting, telling my friends about the coin, there's at least some marketing with free GPU's etc, but there isn't as much interest. :9

did them doing that make the coin more valuable?

I'm pretty sure when they forked it was around the 19th-20th I can't remember the exact time. It has jumped in price since then, I don't know if more people has adopted it or what.

[micryon]

I didn`t invest, just mining/buying.. but I think investors need to decide not CEO, without investors there would not be any CEO...

Not in this case, investors (which i am one of), are not share holders of the company.. we're like the kickstarters of a kickstarter campaign, really..

Director level decisions are CEO and whoever his "real" investors are, owners of the LLC..

They are the ones backing the business model, and without their support.. it's pointless making any changes.  Because ultimately the business model is what drives this coin, and chose what coin it will accept.


However, i think it is in GPUCoin LLC's best interest to NOT let the value of GPUC go to zero... there's no liquidity.. there's very few buy orders even today on any exchange.  Anyone buying with GPUCs goes to GPUCoin LLC, and they have to dump that to someone.. but there's not enough buy pressure.  With a downward spiral.. if this goes down to 1 satoshi, with no buyers.. then we can no longer move volume at all through GPUC...

So there needs to be interest to get to some sort of equilibrium in order to run the sales business so that the coin investors , and the owners of GPUCoin LLC can both benefit...

[scott0577]

I've been saying for a while that 20,000/block at 3 difficulty is just producing too many coins.
Sure it may be psychological, but people would rather buy a gpu with 10,000 coins than 10,000,000.
And they would rather buy or sell gpuc for .0001 btc than .00000010 btc.  I think it is not too
late for a halving of block rewards.  Max coin just did it last week and everything went fine. But
all coins are in a downtrend now.

+1 20,000 is a little high.

[waltsmith]

I didn`t invest, just mining/buying.. but I think investors need to decide not CEO, without investors there would not be any CEO...

Not in this case, investors (which i am one of), are not share holders of the company.. we're like the kickstarters of a kickstarter campaign, really..

Director level decisions are CEO and whoever his "real" investors are, owners of the LLC..

They are the ones backing the business model, and without their support.. it's pointless making any changes.  Because ultimately the business model is what drives this coin, and chose what coin it will accept.


However, i think it is in GPUCoin LLC's best interest to NOT let the value of GPUC go to zero... there's no liquidity.. there's very few buy orders even today on any exchange.  Anyone buying with GPUCs goes to GPUCoin LLC, and they have to dump that to someone.. but there's not enough buy pressure.  With a downward spiral.. if this goes down to 1 satoshi, with no buyers.. then we can no longer move volume at all through GPUC...

So there needs to be interest to get to some sort of equilibrium in order to run the sales business so that the coin investors , and the owners of GPUCoin LLC can both benefit...

Well spoken.

And Jaymes does not make money no matter what. He has to be able to dump the coins he collects to the market, just like anyone else, and thats not happening right now. Personally, much as I hate the idea of a hardfork, changing the block time to 2 1/2 minutes would solve a lot of problems right now. There are enough coins on the market for the business to run efficiently and it would stop the mine-n-dumpers right in their tracks. Plus it would raise the difficulty level, psychological only I know, but most miners see a higher difficulty, and they see more value along with it.

waltsmith

[Psynthax]

I think it is not only CEO and whatever LLC that supports the business model, it is community also, miners that keep solving transactions to keep your business model sustainable.. you seem to keep forgetting that part..

Even tho "coins" are not real shares on which you gain dividend based on gains, they are still very powerful since they hold market cap.. if they decide to start dumping all over the market, who will LLC dump sale coins to then ? It can hurt your business a lot or even make it collapse.. don`t get carried away!!