The market is unpredictable though. If majority of the miners do start hoarding this coin, it may also cause merchants who actually want to use the coin as an instrument of purchase to just look elsewhere. After all, if majority of the coin is in the hands of only a few people, then any merchant who starts accepting it will face the risk of ending up as a poor bagholder if all those hoarders suddenly dump their coins on him/her for his/her goods/services. It would be interesting to watch the progress of the coin though. We are essentially watching the life of Bitcoin compressed into a few weeks.

EDIT: Hopefully, people won't attempt to use this coin as a tipping currency. 8-second blocks are the most bloat I'd care to have.

My only problem with this coin is that it's pretty much hit-or-miss. Since the coins are being mined at an extremely fast rate, it won't be long before the block rewards are effectively nulled. When that happens, mining would become a zero-profit chore unless regular transactions with this coin take place. That means the coin has a short span of time to establish itself as a currency. If it fails to do so quickly, then miners will just stop mining it after all the coins have been mined. So it's hit-or-miss in the sense that either the rapid generation of the coin would increase its transfer rate or that coupled with a lack of use would eventually make it unprofitable to mine. I'm just going to mine more in the meantime since a few gigahashes for a couple of hours day is still netting me an amount worth getting giddy over.

I usually find mining to be tedious, but looking at this coin churn block after block is kinda fun. Regardless of what happens to this coin, the journey is more epic than most other coins.

Let's continue this over PM for a smoother flow of conversation. I PMed you.

You don't have to take my word for it, but you can confirm it on your own instead of asking someone else to do so if you really wanted to know. My shares are accumulating over gaps of blocks found by the pool, so there's no doubt that it is PPLNS, at least for the moment. I was mining on the Suprnova pool before I moved my hashrate to the MineOnCloud pool, which is why I easily noticed the difference.

Please note that MineOnCloud is using a PPLNS reward system even though it says PROP on the dashboard. For SHA-256 coins, that is a more preferable reward system than PROP for miners with low hashrates. Please take that into consideration when deciding how to spread the network's hashrate.

I suppose you can call the coin a novelty. That's where the economic value lies. While the unpredictability of the block reward system does add an aspect of rarity to the coin, it does so in a way that is not economically relevant nor dependable. However, the coin's aspect of being "hard to mine" and the bragging rights that come with having one whole piece gives its speculators a false sense of value, which ultimately raises the coin's economic value. In that respect, CGA follows the same principle as Dogecoin -- recognition of the meme lead to mass acceptance which in turn lead to a relatively high economic value. Essentially, the more people want the coin, the higher its value. So the system s not economically beneficial in theory, but it is in practice. I want at least one whole piece of my own, that's for sure.

You might be the only intelligent supporter of this coin that I've heard from so far. I've heard your point of view and you've heard mine. We might not agree on our views regarding how to approach the lack of information regarding the details of the premine, but you still tried to understand what I was trying to convey and shared your opinion civilly.



This is funny because I checked your posts as well. Whereas I tried as best as I can to add relevant content to all of my posts, a good number of your posts are just various renditions of "+1," "I like," and essentially filler posts.

Not for C-Coin.

People can just avoid the coins which they think won't be accepted by trusted merchants. I believe the issue will work itself out once the more influential governments start passing legislation concerning digital currency.

I hope I didn't offend you. I'm not arguing against your opinion. I just meant that it's hard to understand what you're saying. A lot of coins are already in the various exchange markets. You may be saying something relevant, which I believe you are, but something is getting lost in translation.

I'm sticking to my edit above, but I'm compelled to answer this question because it -may- actually lead to an intelligent discussion. At best, answering this question will clear up some confusion about my intent.

I don't have to know every little detail of what the premine is used for. In fact, no one does. However, having a premine with no justification is an indication of a coin intended for massive scamdumping. Since you yourself mentioned that the possibility of the dev scamdumping the premine exists, then we are actually on the same wavelength. That was my only point. Everyone just started jumping on me because questioning a coin that they already mined millions of may put a dent on the scamdumping profit that they are expecting to make. I don't care if this coin was made by and is primarily supported by scamdumpers -- just don't pretend that it's some magnificent marvel of a cryptocoin that will permeate the real-world markets and that every person who states a valid concern is someone spreading FUD.

I don't see how "1% Premine for Development, Future Projects, Maintenance and Distribution to Community" answers anything. Anyone can make a new coin and say that. How does saying it justify the premine?



I would think that the existence of hundreds of coins when less than 20 are actually used by trusted merchants is what is damaging the credibility of cryptocoins and cryptocoin developers in general. And don't try listing gambling sites since those are just ways of getting more of the same coins to dump onto exchanges.



EDIT: Actually, let's end the senseless rabble and just put the supposed "we're not scamdumpers" sentiment running through this thread to the test. I'll come back to see how this coin is doing in a week's time and we can count how many of the staunch supporters of this coin are not scamdumping. Then, once the PoS period starts, we will do another count. Once people start talking about credibility, talk becomes meaningless. We'll let time reveal the scamdumpers.

I'm sorry. Is this thread only for scamdumpers? I was under the impression that forums are meant to share information and opinions on topics which will ultimately benefit the community as a whole. You're like one one of those fanbois who try to bash a legitimate negative movie review by asking "why did you watch it if it was so bad?"

It has no bearing on the price when no one is buying it.

It seems people will mine any coin with a 1k+ block reward these days. No one even questioned what the 1% premine was for. Just another coin for scamdumpers.

I always crack up whenever I read this sentence. I don't wish to sound mean, but this is the most stupidly senseless statement in support of any coin that I've ever read in these forums. What does that even mean? XD

You're obviously new to cryptocurrencies since you're missing the big picture. All cryptocoins are initially worthless. The value of a cryptocoin is tied to its real-world applications. In this case, the fact that someone can potentially buy graphics cards with their coins is fueling the value of GPUcoins. The value may not be substantial at first, but the realization that the business model started by the OP can be financially supported by the value of GPUcoins may eventually prompt other merchants to adopt the same business model or just accept the coins for their own services and goods. If things go well, then the coins themselves will hold a decent economic value. If not, then that's a risk that speculators have already come to accept. It's the same thing as speculating on collectibles -- you might find some rich person willing to buy them for a million each someday, or you might not. For GPUcoins though, you already have a community supporting the coins so the value itself is irrelevant. If you're saying that the IPO conversion value from the BTC amount is not worth it, then that's a misunderstanding of how free markets work. The IPO is helping the business model succeed so that the coins may eventually increase in value. If you're saying that a coin needs to have a high initial value to be worth investing in, then you obviously are not ready to join the cryptocurrency community. Not all coins need IPOs to be successful, but there are reasons to invest in IPOs that go beyond getting back enough coins to dump into an exchange and make a quick profit.

TLDR: Not everyone is a scamdumper like you.

The law of supply and demand only applies if the demand increases at a faster rate than the rate at which the supply does -- i.e. the demand remains constant while the supply decreases, or the demand increases while the supply remains constant. The block halving does not constitute a decrease in supply but a decrease in the rate of increase of supply. That would matter if and only if the demand is increasing, which it is not. The demand is very little and almost negligible. If you want to raise the value of a coin, then create a need for it rather than citing economic laws that don't apply to the situation.

You can't buy a manga directly from the mangaka if he/she is working for the publishing company and/or once he/she has licensed all publication of his/her work to a publishing company. It's a matter of law. Also, no mangaka would do something as stupid as compete against the company making him/her money.