[GPUC] GPU Coin | Mandatory Wallet Update

[tylerderden]

I really don't know what to think at this point. No money for advertising now? ok. there have been several people on here for a month offering to help in any way they can and lot's of good ideas as well with zero response from GPUC. I don't see money as the main issue, you have people willing to devote their time and effort, a pile of coins and pages and pages of this forum filled with people who can help get this ship back on track but nothing from the bossman. From my point of view it seems like excuses and abandonment are in the near future. oh well, nobody can say that we as a community didn't try. People have stuck it out through failed launches, single digits and apparently a self-imposed gag order..why you wouldn't use this type of commitment and positive intentions to benefit the coin and ultimately the business bank account is puzzling.

[illiki23]

Anyone else wonder why GPUCoin refused to disclose any financial details related to their site?

Despite several people insisting on it they refused to disclose any details about the first GPU bulk purchase.

They also refused, despite being asked multiple times, to disclose how much money they were taking for themselves and how much was going towards the second batch.  Their refusal to discuss these details is suspicious.

I don't see any reason for not cooperating.

I doubt that we are being scammed, but it does not really look good for them. 

They claimed they would spend the entirety of the IPO money to buy a bulk batch of GPUs. I think we should be entitled to a refund because they have not demonstrated that this happened.  I have looked it up and there are several cases were people were granted refunds based on a company failing to practice disclosure when people asked for them to prove they did what they claimed they would.

Yes, it has been shown in court that a company needs to disclose information proving they met their end of an agreement or a refund may be entitled.  We bought GPUCoins from the developer based on a number of guarantees which so far to my knowledge have not been carried out.

I have asked many times for them to prove that they spent the IPO funds on GPUs.  They adamantly refuse to do so.

And someone might want to take a look at the size of the IPO and the total amount it would cost to purchase the equipment that was first listed in the store.   (I did and it does not add up)

[illiki23]

Does anyone remember how many of each type of item was originally stocked in the GPUCoin store?

I am adding up the cost and from what I can tell it is no-where near the amount of money raised in the IPO.

I don't remember how many units there were exactly so I wanted to double check with someone.

It does not really add up, and GPUCoin refuses to disclose information about how much they have been spending of the IPO money and on what.

[jollyriffic]

illiki23 you've got to let it go.
the money collected was to help get the entire business off the ground from graphics cards, domain names, site work, programmers for the coin and w/e they needed to spend money on.
why do you, as only a customer, need a itemized list of his spending?

if in almost every page, if not every other page, you're going to keep going on about this, why not dump your coins and move on? seriously sit back and think about doing so. i'm IPO and so are a lot of others, however i dont see a single person asking these questions. sure some people have asked when more stock would be in, or how many cards there will be, but not in the relation that you're asking about it.

and before you try to make a point about the ipo, lets define it.

IPO
An initial public offering, or IPO, is the first sale of stock by a company to the public. A company can raise money by issuing either debt or equity. If the company has never issued equity to the public, it's known as an IPO.

as such the equity (or value of shares) is directly related to coins. we got them, case closed.
nothing to do with shares in his company or his finances.

[waltsmith]

illiki23 you've got to let it go.
the money collected was to help get the entire business off the ground from graphics cards, domain names, site work, programmers for the coin and w/e they needed to spend money on.
why do you, as only a customer, need a itemized list of his spending?

if in almost every page, if not every other page, you're going to keep going on about this, why not dump your coins and move on? seriously sit back and think about doing so. i'm IPO and so are a lot of others, however i dont see a single person asking these questions. sure some people have asked when more stock would be in, or how many cards there will be, but not in the relation that you're asking about it.

and before you try to make a point about the ipo, lets define it.

IPO
An initial public offering, or IPO, is the first sale of stock by a company to the public. A company can raise money by issuing either debt or equity. If the company has never issued equity to the public, it's known as an IPO.

as such the equity (or value of shares) is directly related to coins. we got them, case closed.
nothing to do with shares in his company or his finances.

+1 THIS

Let's move on and see what we can do from hear on in. I don't have the skills or connections to get any marketing or advertising done. Nor too get any coding done. Or any graphics design. But, i'm willing to work. You idea guys out there with know how in these areas, utilize us, the community to help with these things. Might be unskilled labor, but its still labor.

waltsmith

[illiki23]

why do you, as only a customer, need a itemized list of his spending?

Because we were literally guaranteed that 100% of the IPO funds would be used to purchase a bulk batch of GPUs.

I have demanded over and over that they disclose some information which indicates that this happened.

They refuse to prove that they did what I paid for them to do.

Otherwise I obviously want a refund.

You Jaymes supporters are delusional.  This is a trainwreck of a business.

And since I did give up items of value as part of the deal I expect a little in return.

Why can't they just confirm that 100% of the IPO was used to purchase the first batch of GPUs?

Why is it so hard to simply list the equipment that was purchased in the first batch, and a total spent, showing that the IPO money is not being skimmed by the owner?

It should not be hard unless the owner is either stealing from us or messed up real bad somehow.

[illiki23]

IPO
An initial public offering, or IPO, is the first sale of stock by a company to the public. A company can raise money by issuing either debt or equity. If the company has never issued equity to the public, it's known as an IPO.

as such the equity (or value of shares) is directly related to coins. we got them, case closed.
nothing to do with shares in his company or his finances.

Ok.  Forget about the IPO.

I am no longer arguing about whether Jaymes is required to follow the rules set in place to regulate IPOs.

Right now I am arguing that Jaymes has not fulfilled his end of the transaction.  I am waiting for him to disclose some evidence that his part of the deal was carried out. 

He has not, so I want my coins back.

(and I will take this to court if I need to, it is a valid complaint and not frivolous, I have found two similar cases where a judge ordered a refund based on a company failing to show it carried out its end of an arrangement.  The first one was involving an IPO, the second one was not.)

[Shintax]

IPO
An initial public offering, or IPO, is the first sale of stock by a company to the public. A company can raise money by issuing either debt or equity. If the company has never issued equity to the public, it's known as an IPO.

as such the equity (or value of shares) is directly related to coins. we got them, case closed.
nothing to do with shares in his company or his finances.

Ok.  Forget about the IPO.

I am no longer arguing about whether Jaymes is required to follow the rules set in place to regulate IPOs.

Right now I am arguing that Jaymes has not fulfilled his end of the transaction.  I am waiting for him to disclose some evidence that his part of the deal was carried out. 

He has not, so I want my coins back.

(and I will take this to court if I need to, it is a valid complaint and not frivolous, I have found two similar cases where a judge ordered a refund based on a company failing to show it carried out its end of an arrangement.  The first one was involving an IPO, the second one was not.)

Hes not gonna let go

[illiki23]

Jaymes does have to disclose some proof that 100% of the original IPO funds was spent on wholesale GPUs.

If he does that then I will drop my request for a refund and stop pressing the issue.

I think he blocked my email so I guess I will have to start corresponding by snail mail.  I am not dropping this until either I get my refund or Jaymes proves that he fulfilled his end of the deal.  I will take him to court if needed if my lawyer indicates I have a case.

The math does not add up.  As of right now the evidence indicates that the IPO money was not all spent on GPUs.  I don't think Jaymes would win in court.

All I wanted was a refund. I have been asking for a refund for a long time.  We were promised a refund if the second launch failed but I was never granted one.  We are talking 0.12 bitcoin.  But since they refused to either disclose information that shows they met their end of the deal as well as refused to grant my refund.

If I did not take action I would not be sticking to my values.

[illiki23]

IPO
An initial public offering, or IPO, is the first sale of stock by a company to the public. A company can raise money by issuing either debt or equity. If the company has never issued equity to the public, it's known as an IPO.

as such the equity (or value of shares) is directly related to coins. we got them, case closed.
nothing to do with shares in his company or his finances.

Ok.  Forget about the IPO.

I am no longer arguing about whether Jaymes is required to follow the rules set in place to regulate IPOs.

Right now I am arguing that Jaymes has not fulfilled his end of the transaction.  I am waiting for him to disclose some evidence that his part of the deal was carried out. 

He has not, so I want my coins back.

(and I will take this to court if I need to, it is a valid complaint and not frivolous, I have found two similar cases where a judge ordered a refund based on a company failing to show it carried out its end of an arrangement.  The first one was involving an IPO, the second one was not.)

Hes not gonna let go

Nope.  I have been trying to get my 0.12 bitcoin refund for weeks.

And you guys are likely getting scammed.  There is no other reason to be so strongly against disclosing the details that prove otherwise.

And I have been meaning to ask, are those GPUs used?  My box was not sealed and actually looked like it had been opened.

[illiki23]

I would go away if the store proves they spent the IPO fund on GPUs.

Otherwise I have a valid complaint and will not leave it alone until it is addressed.

The more they refuse to disclose the information I am seeking the worse it looks for them.

[NurseWho]

srsly, what a whiny bitch

yeah go get your lawyers for 0.12 btc, seems like the best logical thing to do

[tylerderden]

you get em johnny cockran...

[paintray98]

0.12 BTC is around $50 right now, this is small claims territory and depending on where you live it might cost you as much or more to file a suit to recoup your 0.12 BTC.  You cannot escalate it past small claims in superior court as it is not worth more than the maximum small claims suit amount (usually somewhere between $1000 and $3500 depending on your state/district)  I can tell you right now, if you get an attorney you will spend more than what you would get in return.  It would likely just be better for you to wipe your hands of GPUCoin and mine something else.

We all understand you are upset, but constantly stating this on a forum that the owner of the coin doesn't frequent too often isn't going to help you.  Sometimes, like a broken marriage, it is better to just walk away and chalk things up to a life lesson learned.

Also, the owner does not have to disclose anything, it isn't a publicly held company on the stock market.

[jimlite]

I would go away if the store proves they spent the IPO fund on GPUs.

Otherwise I have a valid complaint and will not leave it alone until it is addressed.

The more they refuse to disclose the information I am seeking the worse it looks for them.

What the hell are you talking about? Go back and look thru every post here.
I don't know where, but at some point Jaymes put a photo of the invoice for
the first batch of graphics cards. I think there were like 30 or so 280x's, 270x's and 240's.
I don't remember the exact numbers, but he did order and post the invoice and a photo
of him with the boxes of around 70 or so cards. And no, he did not post the price's he
paid for them, but you can just figure he got them wholesale, or about 20% less than
you could have bought them.  He owes you nothing from your IPO, and I did IPO also,
but I do feel he at least owes me some freakin effort into marketing and advertising his
coin, if the coin goes up, our IPO money goes up. At this point I could care less about
buying a card from him at 10% off, I just want to see the coin thrive like so many other
crappier coins seem to do.

[kcheel]

srsly, what a whiny bitch

yeah go get your lawyers for 0.12 btc, seems like the best logical thing to do

Probably several people in here who would gladly throw in .12 BTC just go get him to go away.  Seriously, sell your coins and move on another community to whine in.

[jimlite]

0.12 BTC is around $50 right now, this is small claims territory and depending on where you live it might cost you as much or more to file a suit to recoup your 0.12 BTC.  You cannot escalate it past small claims in superior court as it is not worth more than the maximum small claims suit amount (usually somewhere between $1000 and $3500 depending on your state/district)  I can tell you right now, if you get an attorney you will spend more than what you would get in return.  It would likely just be better for you to wipe your hands of GPUCoin and mine something else.

We all understand you are upset, but constantly stating this on a forum that the owner of the coin doesn't frequent too often isn't going to help you.  Sometimes, like a broken marriage, it is better to just walk away and chalk things up to a life lesson learned.

Also, the owner does not have to disclose anything, it isn't a publicly held company on the stock market.

A better plan would be to keep mining, tell everyone to buy the coin, use your time and knowledge of the internet to promote the coin, and then when it goes up, you will make way more than your IPO money back.  And if you have been reading here, you will know that in about a week or so the blocks will half to 10,000, so your coins will be worth double and hopefully we can get known by then.

P.S. DID EVERYBODY DOWNLOAD THE NEW WALLET SO WE WON'T GET FORKED AND F@CKED WHEN THE BLOCKS DECREASE?

[bananahunter67]

illiki23 you've got to let it go.
the money collected was to help get the entire business off the ground from graphics cards, domain names, site work, programmers for the coin and w/e they needed to spend money on.
why do you, as only a customer, need a itemized list of his spending?

if in almost every page, if not every other page, you're going to keep going on about this, why not dump your coins and move on? seriously sit back and think about doing so. i'm IPO and so are a lot of others, however i dont see a single person asking these questions. sure some people have asked when more stock would be in, or how many cards there will be, but not in the relation that you're asking about it.

and before you try to make a point about the ipo, lets define it.

IPO
An initial public offering, or IPO, is the first sale of stock by a company to the public. A company can raise money by issuing either debt or equity. If the company has never issued equity to the public, it's known as an IPO.

as such the equity (or value of shares) is directly related to coins. we got them, case closed.
nothing to do with shares in his company or his finances.

+1 THIS

Let's move on and see what we can do from hear on in. I don't have the skills or connections to get any marketing or advertising done. Nor too get any coding done. Or any graphics design. But, i'm willing to work. You idea guys out there with know how in these areas, utilize us, the community to help with these things. Might be unskilled labor, but its still labor.

waltsmith

I contacted on PM CryptoArticles.com and the guy said he is OK with posting an article for us. As English is not my native language and I have been critised a lot for my grammar in this forum (as well as this thread), would you mind writing the article? Or, if not, let me know and I will prepare it and you will just spell and gramar check it after that. Whatever pls let me know on PM so we can discuss this.

[paintray98]

0.12 BTC is around $50 right now, this is small claims territory and depending on where you live it might cost you as much or more to file a suit to recoup your 0.12 BTC.  You cannot escalate it past small claims in superior court as it is not worth more than the maximum small claims suit amount (usually somewhere between $1000 and $3500 depending on your state/district)  I can tell you right now, if you get an attorney you will spend more than what you would get in return.  It would likely just be better for you to wipe your hands of GPUCoin and mine something else.

We all understand you are upset, but constantly stating this on a forum that the owner of the coin doesn't frequent too often isn't going to help you.  Sometimes, like a broken marriage, it is better to just walk away and chalk things up to a life lesson learned.

Also, the owner does not have to disclose anything, it isn't a publicly held company on the stock market.

A better plan would be to keep mining, tell everyone to buy the coin, use your time and knowledge of the internet to promote the coin, and then when it goes up, you will make way more than your IPO money back.  And if you have been reading here, you will know that in about a week or so the blocks will half to 10,000, so your coins will be worth double and hopefully we can get known by then.

P.S. DID EVERYBODY DOWNLOAD THE NEW WALLET SO WE WON'T GET FORKED AND F@CKED WHEN THE BLOCKS DECREASE?

Oh no, I was just directing that to the guy complaining, I haven't stopped mining myself since the day GPUC launched.  I only have around 650k, but I am also only using a single 270x and not doing the double threaded mining so that I can still watch movies and use my computer.  I am pretty sure I have the updated wallet "GPUcoin version v0.8.7.2-g88e2a2e-beta"

[vesperwillow]

Right now I am arguing that Jaymes has not fulfilled his end of the transaction.  I am waiting for him to disclose some evidence that his part of the deal was carried out. 

He has not, so I want my coins back.

Yeah.. but he kindof did. The primary trade was BTC for IPO of GPUC, and nothing more. Did you receive your GPUC? If yes, then that's all she wrote. This subject is now at an end.

(and I will take this to court if I need to, it is a valid complaint and not frivolous, I have found two similar cases where a judge ordered a refund based on a company failing to show it carried out its end of an arrangement.  The first one was involving an IPO, the second one was not.)

$50 small claims court? There's a $50 or $150 fee just to file the paperwork in Chesapeake. And once they see that he upheld his side of the trade.. the judge would probably rule that you have to pay for lunch for everyone in the courtroom for wasting their time. Along with court costs. Another $75.

Jaymes does have to disclose some proof that 100% of the original IPO funds was spent on wholesale GPUs.

No.. he doesn't. Dude, seriously. I told you this multiple times. I live up the street from Jaymes. I'm familiar with VA court and business rules, I've owned several businesses. He doesn't have to disclose anything. He's an LLC. Limited Liability Company. What that means is, he is liable up to the value of his profits essentially, and is only required to keep tax paperwork in order and fulfill any obligations--which he has with the IPO. His tax attorney handles the rest, as he has explained.

If he does that then I will drop my request for a refund and stop pressing the issue.

Your time for refunds was back when I made my legal threats--which actually HAD merit, and he promptly returned my coin. I warned everyone to get out while they could. This guy has previous business(s) in his name which all folded in the past, unless there's another person with his exact name. I put all of this in the thread here and elsewhere and linked it, and you and other folks ignored/laughed at me. He has no demonstrated business ability, and if you ask me he probably got kicked out of the Nuke program.

Tough cookies bro.

The math does not add up.  As of right now the evidence indicates that the IPO money was not all spent on GPUs.  I don't think Jaymes would win in court.

Not only would he win, he would laugh so hard he'd probably pop out a feathercoin.

All I wanted was a refund. I have been asking for a refund for a long time.  We were promised a refund if the second launch failed but I was never granted one.  We are talking 0.12 bitcoin.  But since they refused to either disclose information that shows they met their end of the deal as well as refused to grant my refund.

I kept track of most of the refunds within the refund timeframe. I don't recall you filing for one within the timeframe, I believe you were one of the ones wanting to stay in. Just going on memory. The timeframe was only a few days, which was more than enough considering most people had already voiced to him prior to that of their intentions for refund. It was like a handful of folks.

If I did not take action I would not be sticking to my values.

You mean your drumbeating and face pounding?

I get your frustrations but the fact is, you took a leap of faith into an investment with someone you don't know. 100% gamble. Crap failed you. Look, I don't like the guy either but fair is fair, he upheld his word as far as he had to. I started getting a fishy feeling about him when I told him I was local and was willing to be involved heavily in the project to get it off the ground. I have a decent reputation on here, even folks who hate me will acknowledge I'm up front and willing to help. I have a small mining network at my disposal, multiple farms, and am on here daily. I could've handled his marketing and tech support, and even some of the mail

When he found out about that, he pretty much ghosted on me and refused to converse back with me. HUGE black flag in my eyes, so I immediately requested an out as soon as the first sign of incompetence popped up (wanting to change the algorithm on a whim hours before launch).

I get what you're saying but dude, drop it. Most of the BTC went to the huge GPU order he made, as well as other expenses. Even if he did run off with it.. IT'S HIS TO RUN OFF WITH. In Virginia a successful legal transaction is when both parties agree to something and both ends are held up.

Almost all of your posts are just emo without logic. You're trying to infuse hopeful logic.. but it doesn't work. Hope is not a course of action, it's a dream.