Can someone describe what GPUMAX is?

[Paladin69]

I have an account but I lack an understanding on what is actually going on over there.  There is no FAQ.  I can buy shares for hashpower?  Sell my own hashpower?  How long do you have the hashpower for when you buy the shares?

Without displaying the hashpower you are getting for the shares you purchase, I can't grasp any tangible understanding of what is going on over there?

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[bitmonster1070]

Yes you can buy hashpower.  You pay for it and then randomly from a few hours to a few days it will come on and point where you want until your shares are done.

And for about 6 hours a day they buy the power from the people mining that set thier prices low enough to sell to the people that bought the shares earlier in the day or the day before.

And the payouts are random too, which is nice.

[Paladin69]

So what exactly does buying 2 million shares get you?  What is the resulting hashrate and how long does it last?  That is the highest you can crank up the knob for roughly ~50 BTC give or take.

What kind of returns can you get?  For every BTC you spend, can you generate two BTC in the time you have the acquired hash?

What's the catch?

[smracer]

I bought 60,000 shares and about 1-2 days later they started hitting my pool of choice at about 50-70GH.  I ended up losing .5 coins in the process.  It was awesome.

[Graet]

you buy shares to gamble on a pool you choose hope it is lucky and pays back more than you spent

or

you sell your shares at above 100% PPS to gamblers
pretty much

https://bitcointalk.org/index.php?topic=55819.0 is thier thread - it has all sorts of info / opinion / fact / fud enjoy

[DiCE1904]

I bought 60,000 shares and about 1-2 days later they started hitting my pool of choice at about 50-70GH.  I ended up losing .5 coins in the process.  It was awesome.

every time I have bought shared I ended up losing BTC also 

[Paladin69]

I bought 60,000 shares and about 1-2 days later they started hitting my pool of choice at about 50-70GH.  I ended up losing .5 coins in the process.  It was awesome.

Interesting.  Thanks for the input.

you buy shares to gamble on a pool you choose hope it is lucky and pays back more than you spent

or

you sell your shares at above 100% PPS to gamblers
pretty much

https://bitcointalk.org/index.php?topic=55819.0 is thier thread - it has all sorts of info / opinion / fact / fud enjoy

Cool.  Thanks man.  


EDIT:  Oh snap this is that Pirate dude...I think I'll be avoiding...lol

[Evolvex]

I'm glad somebody asked that because I was wondering the same thing as there site doesnt have much on the way of a FAQ.

Think my head just exploded again knowing this.

[Paladin69]

I bought 60,000 shares and about 1-2 days later they started hitting my pool of choice at about 50-70GH.  I ended up losing .5 coins in the process.  It was awesome.

btw how long did the 50 - 70 GH/s last for?

[crazyates]

I bought 60,000 shares and about 1-2 days later they started hitting my pool of choice at about 50-70GH.  I ended up losing .5 coins in the process.  It was awesome.

btw how long did the 50 - 70 GH/s last for?

60GH/s would take just over an hour to get 60,000 shares.

[Saturn7]

The problem is that you don't get to specify a rate.
I would rather have an extra 5g/hashes for a couple of hours instead of 50G/hashes for 5 minutes (even though its awesome when it happens)