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It will either be unsold due to unreasonable prices, or it would be sold out with a loss, leading to an unsustainable business model.
It's not an issue, since they will not dump all the coins they got from the sale. Rather just up the market bit by bit and sell little by little in time to get the money back for the next batch. Just like the whole BlackCoin - Multipool, all this does it create an incentive for the buy orders and the price to go up. The only manipulation can and prob will occour is a pump before listing the cards, if the price does not adjust, so some bag holders could get cheaper cards and then dumps afterwards when none are in stock in order to buy more cheap coins. |
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The reason I promote Bitcoin sCrypt is: I never was asked to do so, I mined it a few times since september so I hold quite a few, I like the vision behind it and I like the name.
So you seek the oportunity to get the hype going again with a troubled coin where you were left holding the bag and dumped. Smart move, tho I feel sorry for the guys holding the bags now. |
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BUT, because everyone wants to buy GPUC to get these GPUS, prices are gonna slowly push up. Which is fine for the buyers, until it hits $500 per 100k GPUC. So say that it gets to about $450 per 100k GPUC before they change the store prices to reflect what they've set. Now it's back to $400. Repeat process ad infinitum.
Now I'm PRETTY SURE that the whole quote war above is ignoring the whole "will adjust prices to reflect market equivalence" not being a one off when the store launches.
That's a good analysis but keep in mind that the GPUCoin store will sell the coins form the purchase after they recieve them, at a much higher price. And if they play it smart and sell the coins in small chucks so the market can buy them then they will earn way more. Like purchase price 40 sat but when they unload the coins the price might be 42, 45, 50 sat, prices where they make an instant profit! That didn't really occur to me. I like when upper management has incentives similar to investors to raise the price  I'm not speaking for them official but that seems a very logical method. A dump method is way less profitable tbh... |
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All the being online then down seems to be a very complex pump&dump method and/or a very good way for some investors to get out. Just look at the before and after prices in regards to the multipool comming online. And for the miners I would suggest you do the math, I doubt you earned as much as in a regular multipool that payes out in btc. It's all selling the dream and a selecting few cashing in on it! Remember: In crypto, not everyone will win! |
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BUT, because everyone wants to buy GPUC to get these GPUS, prices are gonna slowly push up. Which is fine for the buyers, until it hits $500 per 100k GPUC. So say that it gets to about $450 per 100k GPUC before they change the store prices to reflect what they've set. Now it's back to $400. Repeat process ad infinitum.
Now I'm PRETTY SURE that the whole quote war above is ignoring the whole "will adjust prices to reflect market equivalence" not being a one off when the store launches.
That's a good analysis but keep in mind that the GPUCoin store will sell the coins form the purchase after they recieve them, at a much higher price. And if they play it smart and sell the coins in small chucks so the market can buy them then they will earn way more. Like purchase price 40 sat but when they unload the coins the price might be 42, 45, 50 sat, prices where they make an instant profit! |
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Just thought I would post this calculation to show why I believe GPUC will be a success and will be used by people who haven't even mined any.
I pulled all the figures off crypto-rush exchange about 20 mins ago.
So lets say you have only just heard of GPUC and your balance is at 0
Current BTC price is around $600
According to the front page the selling price of a R9 280x will be $480 which is 0.8 BTC
At the current price of 0.00000029 you will need 2,758,620 GPUC to purchase a 280x
As the price is going to be directly linked to the exchange, as the price in GPUC/BTC goes up the amount of GPUC you will need comes down.
Buy 323,814.75 GPUC at 0.00000029 = 0.09390268 BTC
Buy 137,152 GPUC at 0.00000030 = 0.04114560 BTC
Buy 50,000 GPUC at 0.00000031 = 0.01550000 BTC
Buy 30,000 GPUC at 0.00000033 = 0.00990000 BTC
Buy 100,964.12 GPUC at 0.00000034 = 0.03432780 BTC
Buy 502,354.18 GPUC at 0.00000035 = 0.17582397 BTC
Buy 667,799.73 GPUC at 0.00000036 = 0.24.4.790 BTC
Buy 25,820.54 GPUC at 0.00000037 = 0.00955360 BTC
Buy 35,000 GPUC at 0.00000038 = 0.01330000 BTC
Buy 58,240 GPUC at 0.00000039 = 0.002271393 BTC
Now as you have pushed the price up to 0.00000039 you will only need a total of 2,000,000 GPUC at 0.00000040 to purchase a 280x
Buy 68,853.85 GPU at 0.00000040 = 0.02754154 BTC
So you now have a total of 2,000,000 GPUC enough to purchase your 280x
Where this gets interesting is when you add up how much it has cost you in BTC to purchase those 2,000,000
you will need to spend 0.6636 BTC which is roughly $398 that's $82 cheaper than if you bought from the store directly in $
This is only an example, and once things get up and running properly, there will be more volume on the exchange, and you may only push the price from say 0.00000029 up to 0.00000034
to get you desired amount of GPUC but the same principle applies.
There is a flaw, in that the price will only go up to a level that is equal to the price of a gpu or less. otherwise people will just go and pay for one with cash.. So the price can only go so high any more and people will be throwing away money.. I'm not sure exactly what you mean. Surely the price of GPUC can go to whatever the market pushes it to. If in the unlikely event it went up to say 0.001 BTC you would then need only 800 GPUC to purchase a 280x using the above figures. 800 x 0.001 = 0.8 BTC you would never pay more than what the graphics card is worth BTC/GPUC/$ value Ok, look at it like this. Why buy gpucoin? to get a gpu, am i right.. or am i wrong.. If i am wrong and the people buy just because they want to make money on the coin, buying and selling the coins, then we will could still see a steep rise. But i have doubts, because if people know what the coin is being used for purchasing the gpu's then they would not buy coins that work out more expensive than buying one in a store.. Where are you getting more expensive than in a store from? As I posted in the calculation using those figures (which may not be accurate as far as the $ sale price of a 280x) You are getting a $480 graphics card for $398 If when the shop front opens the sale price in $ of a 280x has come down to say $400 then you would get one for about $320 Indeed, just like any other crypto coin, if you had X ammount or bought low before and the price goes up you are making profit. Applied to this coin and means in the end that profit can get transformed into getting a graphic card at a lower then regular price. |
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Just thought I would post this calculation to show why I believe GPUC will be a success and will be used by people who haven't even mined any.
I pulled all the figures off crypto-rush exchange about 20 mins ago.
So lets say you have only just heard of GPUC and your balance is at 0
Current BTC price is around $600
According to the front page the selling price of a R9 280x will be $480 which is 0.8 BTC
At the current price of 0.00000029 you will need 2,758,620 GPUC to purchase a 280x
As the price is going to be directly linked to the exchange, as the price in GPUC/BTC goes up the amount of GPUC you will need comes down.
Buy 323,814.75 GPUC at 0.00000029 = 0.09390268 BTC
Buy 137,152 GPUC at 0.00000030 = 0.04114560 BTC
Buy 50,000 GPUC at 0.00000031 = 0.01550000 BTC
Buy 30,000 GPUC at 0.00000033 = 0.00990000 BTC
Buy 100,964.12 GPUC at 0.00000034 = 0.03432780 BTC
Buy 502,354.18 GPUC at 0.00000035 = 0.17582397 BTC
Buy 667,799.73 GPUC at 0.00000036 = 0.24.4.790 BTC
Buy 25,820.54 GPUC at 0.00000037 = 0.00955360 BTC
Buy 35,000 GPUC at 0.00000038 = 0.01330000 BTC
Buy 58,240 GPUC at 0.00000039 = 0.002271393 BTC
Now as you have pushed the price up to 0.00000039 you will only need a total of 2,000,000 GPUC at 0.00000040 to purchase a 280x
Buy 68,853.85 GPU at 0.00000040 = 0.02754154 BTC
So you now have a total of 2,000,000 GPUC enough to purchase your 280x
Where this gets interesting is when you add up how much it has cost you in BTC to purchase those 2,000,000
you will need to spend 0.6636 BTC which is roughly $398 that's $82 cheaper than if you bought from the store directly in $
This is only an example, and once things get up and running properly, there will be more volume on the exchange, and you may only push the price from say 0.00000029 up to 0.00000034
to get you desired amount of GPUC but the same principle applies.
There is a flaw, in that the price will only go up to a level that is equal to the price of a gpu or less. otherwise people will just go and pay for one with cash.. So the price can only go so high any more and people will be throwing away money.. Given that the shop haven't announced any prices yet, still to early, people can push the price as much as they can. The sell order has very small ammount, if mining adjust and keeps going high all the early miners and investors will make a heftly profit. Until the first batch of sales goes out the market is runned by the miners/traders, after that the GPUC Company will have the coins to dump into the market. And for them to make a profit as a company they would have to dump at a higher price then what they charged for the coin so even then the price must go up. Overall think of it just like whole blackcoin multipool, the shop will make it so the buyorders will always be there and any dumps in price can and will be addressed because of the market. |
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Haven't opened the wallet in a day and now it's stuck at block 12034 with remaining 1252 blocks. Anyone know the issue? I'm on the latest version v0.4.5.2-ga-beta.
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Possibly been asked already but what's the starting price in GPUcoins for an R9 280X ? How many million ?  So looks like about 2.7 - 2.8 million GPU to buy 1 x R9 280X at the current rate of $0.00017486 USD / GPUC I doubt the whales/investors will be ok with this price. I bet they will raise the price to get a better exchange ratio! It takes like what almost 2 btc to get the price to 60 sat and about the same to keep it, since people are mostly holding their coins atm anyhow. |
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wow! people still mining this coin
Ofcourse they are! This coin is amazing. Yeep....0.35 GH/s net hashrate is really convincing. Consindering at today's "crappy" price you still make 1.5x more mining this coin then mining in an autopool, what are you bitching about? Oh my, I shouldn't have said that right, people can't seem to be able to calculate proffitability this days... |
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Hi a temporary wallet for windows is available. It shows, in Wallet GEO as a currency, but it is EUC transactions. I'm going to publish tomorrow. a clean wallet will be published subsequently. Currently on own risk DariusK Just to let everyone know I provided the link, credits goes to fyrstikken for the wallet as in I got it off him. Tested it, it generates the new E-Address and made transfers from/to CryptoRush's Address and it works. So you can use this wallet untill a better one comes out, just make sure you backup the new wallet.dat! |
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How is this different than mining any other alt coin, trading for BTC and then buying your GPUs from someone such as Tiger Direct? Last I checked they have RAM, Mother Boards, PSU's, complete rigs.... Etc.
Not being trying to be a "Debbie Downer" here - especially when I am currently mining this coin, but..... am I missing something?
Once the initial sales get's going the company will prob have the majority of coins out there, or if not, still a large portion of them and they could stabilize the market and make it go up little by little. In order for them to make a profit after they accept your coins for their cards, they need to exchange the coins at a much higher rate then the one prior to the trade. Hence why in theory the price will go slowly up and by each sale the possibility of others dumping get's smaller and smaller. So the difference comes from a more controlled market and not that much flucuation price once the shop get's working. |
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If you are all jumping on Bitember because it's the "biggest" I suggest you look at a pools "Blocks" menu item. If you compare them, you'll see that proportionally you're getting the same amount if you were mining on Cloudminers. Please spread the hash out.
We are investingating issues in the backend. Your shares and hashrate are safe and we will fix things ASAP.
Bitember has display issues, my coins didn't update yet. I'm sure it's just frontend issue and will get resolved also. |
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Proof-Of-Stak Anyone got any staked coins? I've seen this feature on other coins yet never experienced it. Might be the unicorn of cryptocoins! |
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Would you like to explain why someone would pay substantially more for the coin compared to what it costs to mine it? I understand things might change once all the coins have been mined but that's little further out. A few posts back we heard that it's profitable to mine at 20 sat so there you have the market value of GPUCoin?
At the current price of 20sat one would have to dump 325m coins back to market to buy 100 new display cards at 400usd each.
Didn't said they will pay more for the coin compared to mining cost, just that once the initial sales gets going its up to the company to distribute the coins into the market. If they play a safe game and not just dump but slowlly sale, they can get the money back and since to make a profit they will have to not dump but rather make sure the price they sell the coins is over the initial GPUC/card ratio this means after the sales the price will have to go up. Only way it can go down is if the whales/players/big investors want to buy cheaper coins for the next round of sales, this means they would have to try to dump while the company is trying to pump. Also on the mining side, once sales gets going and people get their cards the hashrate will go up since people will know the coin is backed up by something, as in it's trustworthy and has a goal/reason. |
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The way I see it at this point, it's either going to to be 5-10 high capacity miners buying up everything from the store, or exchange dumping to whoever will buy spreading the coin thin to the point where very few people actually have the coin required to make a purchase. I.E. at current rate it will take approximately 4 million GPU coin to afford a 290X, if we end up in the 1 satoshi graveyard, forget it. Even if those big players decide to buy the first shipment, the devs will need to dump the coins back in the market to raise funds for the next batch. Once again if there is not demand for the tens-hundreds of millions of coins being recirculated, prices will crash.
Well if they are smart bagholders they will try to keep the price low now, let's say under 20 sat, do microtrades and buy as much as they can while mining it then when the store openes up push the exchange price to a very high value, let's say 200 sat, so they can purchase more items for their coins. Repeat that each time, at least the first few times, then the store could counter it with microtransactions from the coins they got for the items. Just my logical view on what will happen. |
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Market manipulation is so fun to watch.  And it's still cheap, people don't want to sell it. Get it while you can! |
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What did you think of the first weekend? What improvements can we make?
Better and more transparent payments and front-end estimations. I and other people as well were payed crap by the pool, as in very few BC, no way near what a "regular" multipool pays in btc. Overall I still do think the whole idea of the multipool was put into place just so, some players, could sell high, since the price before was crap before and was crap because other players dumped once the PoW phase was over. So in terms, trust in no coin and no new feature, when whales come in or old ones want to play the market you get fucked anyhow. |
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Since all miners gather information from Altcoincalendar. Never hear about the term "popularity" ?  I'm a miner but I've never even visited Altcoincalender Same i never heard of that . But stay tuned . We don't want to create a big DUMP in market . Also we don't want to do illegalities and steal people identity info . Also it MIGHT be without any premine at all . Too be fair in the world of crypto currency as it should be . I don't know who are those guys who are making BitLeu i dint saw any romanian supporting it in my country or any news about it . I am a romanian and Romcoin was a project on paper with other people from crypto coin community since January , but with all this spam of coins that was lately i dint wanted to be another spam coin . But as i can see this thing getting more serious and the danger of my project being stolen it's very high as i already shared the info and project . The 50% premine and CNP (National ID) for distribution was first on my plan but that's total illegal and can create all sort of problems like people taking ID's from old people , poor people , family and claim the coins , etc. So this month delayed because i have this problem of how i would have the power and finance too keep this coin fair for everyone and not woke up with dumps and instability and in the same time to promote and distribute some between romanian population . So far i got some good pool owners that decided that if i keep it fair they will donate 100% of mining process not just 1 pool . So that's sounds like a great offer . If anyone got any ideas . We already contacted press news in Romania for some press release soon . Logo will be remade . Today compilation will be done . Thanks for support guys ! Remove the premine and launch it with it's brand. If we, romanians, will be interested then we will adopt it by mining/buying from exchanges. I would rather do that and know there si no premine that can dump then get free coins and have dumps. |
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There is another Eurocoin(EUC) out there: http://www.eurocoin.info/So what's the purpose of this, just copy-paste and launch? ps: Also what's the pemine on it, you havent' stated any?! |
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