[GPUC] GPU Coin | Mandatory Wallet Update

[DougB62]

Just curious: According to http://www.gpucoinforum.com/viewtopic.php?f=22&t=2750&start=30#p3001, posted on April 7, they didn't get enough coins to hold the "Win a Brand New 280x GPU"

So we did not meet the minimum coins raised in order to have this contest go live, i will be refunding all coins sent to me back to the address they were sent from. If you want them sent to another address please email me by the end of the week. I will email all people also that entered into the contest.

I have heard nothing, and haven't received my coins back. Anyone get theirs back?

(I know - moot at this point, but...)

[jollyriffic]

Just curious: According to http://www.gpucoinforum.com/viewtopic.php?f=22&t=2750&start=30#p3001, posted on April 7, they didn't get enough coins to hold the "Win a Brand New 280x GPU"

So we did not meet the minimum coins raised in order to have this contest go live, i will be refunding all coins sent to me back to the address they were sent from. If you want them sent to another address please email me by the end of the week. I will email all people also that entered into the contest.

I have heard nothing, and haven't received my coins back. Anyone get theirs back?

(I know - moot at this point, but...)

that contest was held but tag, whom isn't part of gpuc other than being a miner.

[blueangel01]

I think it's time for James to step down as CEO. CEO HAHA use that title loosely More like a guy that puts sticker on boxes.. He has been incompetent from the launch of this coin or the 4th launch.. He will not speak to anyone will not post. O wait he did post over a week ago to yell at us that he has real world problems going on. Well that was over a week ago and still nothing from him.
From bittrex.com
SUM (BTC)   TOTAL (BTC)   SIZE (GPUC)   BID (BTC)
0.0619   0.0619   3096225.00000000    0.00000002
0.3720   0.3100   31005000.00000000   0.00000001

I suggest anybody mining gpu or buy. DON'T you will lose your money and time.Guarantee his company will go bankrupt. And do not worry about him losing money we gave him over $40K in BTC.


Now I will be attacked by his cheerleaders but they know it's true.. The ignorant CEO killed this coin not me..

Business plan is a failure. That sucks.  A better plan was to sell the GPU for a fixed price, for example 5 million GPU per card. Therefore, the GPUcoin will have a standard then price will go up to match the value for the coin.

POW for a business is bad. Because multipool miners don't hold, they only dump.

[trademark]

I think it's time for James to step down as CEO. CEO HAHA use that title loosely More like a guy that puts sticker on boxes.. He has been incompetent from the launch of this coin or the 4th launch.. He will not speak to anyone will not post. O wait he did post over a week ago to yell at us that he has real world problems going on. Well that was over a week ago and still nothing from him.
From bittrex.com
SUM (BTC)   TOTAL (BTC)   SIZE (GPUC)   BID (BTC)
0.0619   0.0619   3096225.00000000    0.00000002
0.3720   0.3100   31005000.00000000   0.00000001

I suggest anybody mining gpu or buy. DON'T you will lose your money and time.Guarantee his company will go bankrupt. And do not worry about him losing money we gave him over $40K in BTC.


Now I will be attacked by his cheerleaders but they know it's true.. The ignorant CEO killed this coin not me..

Business plan is a failure. That sucks.  A better plan was to sell the GPU for a fixed price, for example 5 million GPU per card. Therefore, the GPUcoin will have a standard then price will go up to match the value for the coin.

POW for a business is bad. Because multipool miners don't hold, they only dump.

Yup. I was saying that even before the store opened, but no. He was determined to have the market control the price. Do you think people would sell their GPUC's cheap if they know they can turn around and trade it in for a GPU for a much better price?  Only if he'd set the price of the 280x to 1million GPUC or less. Every IPO would have made a decent amount and once the price is fixed, he would have time to sell his GPUC in order to get the 2nd batch going.  I bet he's still holding onto the original coins from the 1st batch since the price dropped like crazy after a day or so. He would of been selling them at a lost.

The CEO is incompetent. He pretty much hired a great team to promote, develop and create a website/store for him while paying them worthless coins. I bet everyone on the team has still made a cent profit on this coin. The CEO however will always have a profit since he started with $0 and if no one buys his GPU's since it now over 28 million GPUCs, he can always turn around and sell it on Ebay or something. 

I vote for the team to takeover this coin if they like to. I know they have invested way too much time already.

[blueangel01]

In addition, change the reward. In pawncoin, we voted to change the 50 reward into 5 PAWNcoin and cut the max coin from 100m to 20m.

[vesperwillow]

You can't just declare a set value for the coin, that's pretty stupid.

So he declares 5m GPUC for a 270. The market rate is 1 satoshi. He gets .05btc for the gpuc. Really dude? That's your plan?

You have to let market set the value. If they would've used a better pricing algorithm and held a buffer of BTC to help get things started, and take a small hit at the outset to get the market flowing.. it would've been better. Not saying it would've kept things alive, but it would help.

Again, file this under lack of business acumen and failing to heed great advice from several folks who were willing to make his business into something great. He killed it, nobody else.

[djm34]

In addition, change the reward. In pawncoin, we voted to change the 50 reward into 5 PAWNcoin and cut the max coin from 100m to 20m.

again ? Like it worked the first time ? (I repeat what I already said, increase the reward to position the coin as 1sat coin, create incentive for mining the coin... ).
3 failed launch, 2 change in the reward...   you must be kidding

For the store to survive it has to become a real computing store, accepting dollars, offering some extra discount to people buying with gpuc and that's it.

[trademark]

You can't just declare a set value for the coin, that's pretty stupid.

So he declares 5m GPUC for a 270. The market rate is 1 satoshi. He gets .05btc for the gpuc. Really dude? That's your plan?

You have to let market set the value. If they would've used a better pricing algorithm and held a buffer of BTC to help get things started, and take a small hit at the outset to get the market flowing.. it would've been better. Not saying it would've kept things alive, but it would help.

Again, file this under lack of business acumen and failing to heed great advice from several folks who were willing to make his business into something great. He killed it, nobody else.

I mentioned to set the price of the GPU's before the store opens.  Here is my original message on March 13th
https://asktom.cf/index.php?topic=469887.msg5674580#msg5674580   If he sets the price BEFORE the store even opens and before anyone has a single GPUC. Why would anyone sell the GPUC for 1 satoshi?  The only coins that you need to let the market set it's value are coins that have no physical use. You can't buy anything with it and they are pretty much useless until someone creates a store/service for it.  GPUC however was intended to be used to purchase GPU's. So what's wrong with setting the price?

[HowDoge]

This coin is not dead. The coin is working just fine, yes the price may have taken a hit now but all that's needed is for the store to keep functioning and/or for further adoption. The coin itself does not hinge on the original coin creator or the value of the coin for that matter.

[waltsmith]

Well, while GPUCoin did not post here today it's obvious he got my message about needing to update the OP and title. So, at least we don't need a new thread at this point. The reward halving is only a couple days away now, so lets see how that goes eh??

waltsmith

[vesperwillow]

BEFORE the store even opens and before anyone has a single GPUC. Why would anyone sell the GPUC for 1 satoshi?  The only coins that you need to let the market set it's value are coins that have no physical use. You can't buy anything with it and they are pretty much useless until someone creates a store/service for it.  GPUC however was intended to be used to purchase GPU's. So what's wrong with setting the price?

Because it'll still get traded at lower values due to the natural economy of cryptocurrency. Folks mining it just to turn it to BTC, if they want a quick conversion they'll offer it for less than others on the exchange. Without a community using it and refusing to sell at a low value (ie, setting up a wall), this is the natural entropy.. This is basic economy 101 stuff.

The coin can still work at 1 satoshi if there is volume on the front end. People focus too much on the backend (coin value). If the business front was very lively and had great volume, it wouldn't matter if it were 1 satoshi.

The backend works, the coin, but the frontend.. the business, the product flow, etc, is dying-to-dead, which nullifies the point of the coin.

[blueangel01]

You can't just declare a set value for the coin, that's pretty stupid.

So he declares 5m GPUC for a 270. The market rate is 1 satoshi. He gets .05btc for the gpuc. Really dude? That's your plan?

You have to let market set the value. If they would've used a better pricing algorithm and held a buffer of BTC to help get things started, and take a small hit at the outset to get the market flowing.. it would've been better. Not saying it would've kept things alive, but it would help.

Again, file this under lack of business acumen and failing to heed great advice from several folks who were willing to make his business into something great. He killed it, nobody else.

I don't think its stupid, your example is stupid. I did not say sell it for 0.5 btc. It was just an example number. If i see a GPU right now selling at lets say 5m GPU, I will buy 5 million GPU, which will raise the price of GPUcoin vs BTC. And now, I can afford to buy GPU now since i have 5 million GPU. But what if,suddenly someone dump the gpucoin before i could buy any? i wont be able to afford the GPU that i want.

$300 > btc > gpucoin > $100 value GPU? Just because someone dump i could not buy gpu anymore? Is this what you like the market to do?  or
$300 > btc > gpucoin > $600 value of GPU (because someone pump it) Woot!!!! i can buy 2 GPU?

This is not a simple buying of GPU at a cheap price, its more like gambling to me. Why would i buy to him?  

Let me help make the Value of GPUcoin drop even further if you want. Soon, GPU will be removed to GPU/BTC it can even become GPU/LTC or worse price will become 1 latoshi.

For those people reading this, think about it. Do not BUY GPUcoin you will not be able to afford the GPU you want because as soon as you put a buy order in, someone will dump their coin.

[vesperwillow]

The store has to trade GPUC out to BTC in order to stay alive. Merely setting a value on the store for a GPU will not stabilize the market, the market is determined by who is willing to trade for what price. Artificially stimulating market price only works for a super short period of time, until folks start dumping GPUC for less than what he is asking for.

At that point he's up a creek and pretty much underwater with his holdings--insolvent. This has been discussed like 200x on this thread. My 'example' was working out the math of the proposed idea.

The store trades GPUC for either BTC or USD, whichever his suppliers take. How is that a hard concept? You can't just inject a random value.

Edit: Adding on to the latoshi example, it would still work at 1 latoshi, you would just need more GPUC. It's no different than using BTC to buy product.

[blueangel01]

The store has to trade GPUC out to BTC in order to stay alive. Merely setting a value on the store for a GPU will not stabilize the market, the market is determined by who is willing to trade for what price. Artificially stimulating market price only works for a super short period of time, until folks start dumping GPUC for less than what he is asking for.

At that point he's up a creek and pretty much underwater with his holdings--insolvent. This has been discussed like 200x on this thread. My 'example' was working out the math of the proposed idea.

The store trades GPUC for either BTC or USD, whichever his suppliers take. How is that a hard concept? You can't just inject a random value.

Edit: Adding on to the latoshi example, it would still work at 1 latoshi, you would just need more GPUC. It's no different than using BTC to buy product.

Whatever you are proposing, i do not get it. Good luck to the buyers of this coin and into his store. Nobody is interested anymore.

Just sell the cheap GPU for $, no need to go through GPUC.

[lovethisguy]

I am not a troll just a pissed off investor... Ok lets do some math..

https://i.imgur.com/falMZxu.jpg

44 Radeon R9 280X New egg price. $379.99
10 R9 270  New egg price. $194.99
44 Radeon R7 240 New egg price 69.99

44 x $379.99 = $16719.56
10 x $194.99 = $1949.90
44 x $69.99  = $3079.56
Plus shipping = $337.52
                   _________
Total  price   $22086.54 USD

He was giving 71 BTC at the time BTC was at $600.00

71 x 600.00 = $42600.00 WOW!!!


                    $42600.00 USD
                   -$22086.54 USD
                   ______________
                    = $20513.46 USD


Now remember he told us he gets way better prices then newegg.com and the R7 240 he is sell for $27.00 because he bought them so cheap. So my math is not right my prices are off newegg.. 


WERE IS THE $20513.46 CEO!!!! I think the real number is more like $25000.00 usd

                   

He needs to account for that money.. In my state it is a felony to steal 20K...

Call me what you want.   The numbers do not lie..

[djm34]

Is this over ?

It would be stupid for any store to use all their money at once because they wouldn't be able to do any business until they have finished to sell their gpu and traded their gpuc. At least not spending all the money at once is a smart move (running away with the rest is another problem  )
Now the IPO holders, no matter what they believe bought, only GPUC over a business model in which they believed which was created but didn't succeed.
(when you invest money, sometimes you win money, sometimes you loose... guess it is the second case here)
So far I don't see anything wrong... he kept his word all along

[lovethisguy]

Is this over ?

It would be stupid for any store to use all their money at once because they wouldn't be able to do any business until they have finished to sell their gpu and traded their gpuc. At least not spending all the money at once is a smart move (running away with the rest is another problem  )

When some users asked if the IPO BTC can be used to pay are way on to mintpal.com we were told no IPO BTC was left..
I'm not crying about the money I lost on a bad investment but I did not invest in James . I invested in GPU LCC a company..

[micryon]

This point probably less important to point fingers, more ideas about how we can turn things around.  We have a coin, a website , a community and some devs.. that's far more than what most other coins have.. tbh.

[HowDoge]

This point probably less important to point fingers, more ideas about how we can turn things around.  We have a coin, a website , a community and some devs.. that's far more than what most other coins have.. tbh.

Exactly this. We are currently sitting at 1 satoshi but its really not hard to get this coin of the ground again. Im personally hoping that more cards come in stock soon.

[degel_x]

I really think shipping world wido would help