I think this coin will be killed by the devs dumping even more than any other coins.
I understood that the business idea is to sell hardware with near retail prices using these gpu coins. The price of the hardware then has to be defined by the value of both USD/BTC and GPUC/BTC exchanges.
Once someone makes a hardware purchase, the devs have to dump the coins back to the market to convert them to BTC and then USD to cover the expenses.
I also wonder how they handle taxes... and warranties.. and refunds (think of exchange rates).. The business is operated by this one Jaymes Reilly guy only, what happens if he gets sick or dies accidentally or gets arrested or something?
How do they define the exchange rate (and the price) when purchasing the hardware? Can you make a couple of really high price buy orders at exchanges before making your purchase and have the hardware really cheap?
It's a huge risk for the devs, since they might not get compensated for the GPUs if nobody is buying their GPU coins or the value of GPU coin has dropped between customers purchase and their dumping. Why include the gpu coin in the mix?
If they can sell hardware cheaper than other online stores and still make a profit or even cover the expenses, why are they not doing it on USD already? If they can, why can't someone else and how come there isn't some store selling cheap gpu's and having them in stock all the time? If they can't, well, then there will be no business.
It will never work.
Lets hope they have something more up their sleeves other than dumping the coins. As you are right this will simply kill the coin. And if they don't how are they going to purchase more GPU's hmm. Lets hope they have thought of this.. |
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To be honest the cards aren't really that much cheaper. By the time people have waited for their GPUs to arrive from what will be an over subscribed list of people, you could have purchased one possibly slightly more expensive and mined earlier to make up you money lost and more..
So basically this coin is to make the dev's and owner rich and that's it and GREED... Should have sold some shares in the company at least to create some security..
Sorry guys this is my thoughts. But will keep a close eye on it and continue mining for the time being. Really need to see what happens when the store front opens.
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Where can i see the whole network hash rates for gpucoin and other coins
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No offence guys. But you would have thought that if this coin had launched on sat morning we might not be mining for 1 coin per day right now.
Unless that was only decided last minute.
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yeah still about 9 hours to go. before we reach 2600
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What has happened to the mintcoin.cc website. its always down. And when does the mining pow finish.
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sunday, 1am, about 4 hours from now
Oh cool, didn't think we would launch until Sunday USA time. read up 2 posts, their allowing mining from saturday, but blocks are only worth 1 coin. so actual proper mining starts sunday for the USA Do you know what, i missed that completely, just thought someone was spamming.. lol... |
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sunday, 1am, about 4 hours from now
Oh cool, didn't think we would launch until Sunday USA time. |
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in IRC, as stated  freenode #gpucoin Or do you mean Monday 1pm for UK time |
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Is that 1pm tonight.. Sun morning.. Where did you get that info??
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MIDNIGHT 00:00GMTwhat is the launch hour(gmt)?
I BELIEVE Whats this.. Is this the launch time for UK.. |
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This coins sucks seriously but it so fun to follow it  WHY??? Valid reasons please!! I also do NOT solo mine and only pool mine. As never able to successfully setup a solo mine or never had the time to sit down and configure it for that purpose. As i have the miner on different system to my wallets. its never easy. |
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Launch Update: The wallet will be available on Saturday but the first 2600 blocks
Whats the point!!!!
Everyone will simply wait until the 2600 blocks are mined. duh...
But i suppose there is a reason for this and to protect the ipo members.. If so then rock on..
The point is to get all pools setup ahead of time, and have everything running smoothly ahead of real mining start. So you'll be able to be on pools at the theoretical "block 1". Everyone gets a fair shot. And if there is trouble between saturday->sunday. We can debug/restart it without really affecting anyone since sunday is the real mining launch.. It is both a conservative and fair approach to coin launches.. Good point, Thanks. But doesn't fill me with confidence.. Exchange prices will be nice and high anyway, but i do see your point. Do we also have a countdown timer to exact start time. Would be nice.. |
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Launch Update: The wallet will be available on Saturday but the first 2600 blocks
Whats the point!!!!
Everyone will simply wait until the 2600 blocks are mined. duh...
But i suppose there is a reason for this and to protect the ipo members.. If so then rock on..
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Micryon, done a great job on this coin, congrats and great work on the updates. see devs this is how you do it!!!!!
Looking forward to the launch on Sun, probably going to increase in difficulty very fast. what time is the launch.
Cheers,
M
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Been busy with some new coin launches today, that also had problems with the amount of miners at launch messing things up. With regards to the IPO and the recent email. Thanks for the contact. we appreciate you are busy.
I am looking forward to the relaunch, however many its been it doesn't matter as long as a launch happens. If the people want out of the IPO, i am sure there are people who will buy their share. i might even consider it.
Cheers,
M
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Honesty is always the best policy, one day these scammers will get their comeuppance. Maybe the cryptocoin police force will sort this out. I think that's is what is needed a police force who watch for just scammers and nothing more and runs on donations from the public. totally anonymous and can never give details to the real police or governments unless a crime against the innocent in cryptos takes place.
As soon as they scam themselves we as the people will stop donating. So they too would have a choice.
Any thoughts i suspect there will be mixed views on this one.
With regards to poloniex exchange, they will just get stronger and stronger. Which in turn will make them more appealing to more investors.
M
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Dark coin uses keccak along side other similar algorithms
Is that Asic resistant. if it is i would suggest we use that. |
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Is there a bin file delete script that i can use to automatically delete in cgminer startup.
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Someone mentioned that scrypt-n can destroy GPU. Is that true?
Caused my system to blue screen yesterday on the failed launch. Never had it with any other coins like panda. Keccak is by far the best algorithm you could use. Else people have to pump and dump just to pay their power bills i mined scrypt scryp-jane and scrypt-n but whats the difference with Keccak ? cant this be mined by those ASICs ? There are no keccak asics. It is asic proof like scrypt-N It uses less power, and is a lot easier on the gpu itself hmm interresting since power costs a lot where i live and my r9 280x's are eating 300w each can this be done with casual sgminer / cgminer ? I know cgminer does it. It seems by far the best algorithm, and as I said. It puts high end nvidia gpus close to high end amd gpus so it's more of a fair launch as this is gpucoin I too was having a lot of problems. gpus kept dropping out constantly. i was going like mad trying to get up and running for every launch that didn't happen. |
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