[GPUC] GPU Coin | Mandatory Wallet Update

[bigjme]

yeh, its a shame that exchanges wont allow a coin value to only drop by a set amount each day. it would atleast help slow the huge price drop issues

[BKM]

Yeah, we need to constrain the markets and put limits on this new innovative technology.... yeah. Seriously! Can you hear yourselves?

The reason that the fractious freak show of altcoin spew is happening right now is that people are capitalizing on the trend - if it pumps and dumps it is because it has no utility other than lining someone's pockets.

There are notable exceptions in the form of actual innovations within the altcoin 'verse which I will not recount..... other than to say that GPUCoin has the potential to be another first in that a real business is launching its own coin as it launches the company (kickstart by altcoin) and will accept its coin in its store. First movers gain network effect advantage. If they execute well on their business plan then they may just capture the sentiment of the community and scale the concept to be something much more than their initial vision.

[sonysasankan]

it is a difficult concept but until a cryptocurrency finds a way to prevent pump and dump, no coin will truly stick around

Pump and dump happens because the products at hand have no real value, and everything just rides on pure speculation. Fiat runs solely because people accept them for goods and services. The Ugandan Shilling may have value in Uganda, but even a million of them is not worth the paper they're printed on in US, because the holder of those notes cannot exchange them for goods or services. He has to sell it to the greater fool who thinks he can do something with the new purchase. Crypto is just like the shillings in US. There is the long winded route of xcoin -> BTC -> USD/local fiat for most coins... and fiat is the end goal, because that is the usefull stuff.... its what paid for your rigs and electricity bills.

A crypto cannot find a way to prevent dumping. The consumers would have to start accepting them for stuff. I think BTC became popular (and hyped) because articles came out that people bought pizza and houses with BTC, and that if you went deep enough the rabbit hole, you could even hire assassins to take out your cheating ex and pay them with BTC. The speculation and the "holding on to it as investment potential" came later, and the price crash happened when the "investors" far outnumbered the "users".

GPUS is certainly going in the right direction by stimulating the growth of "users" and also converting "investors" into "users". I think once the store is put up, its going to be immune to pump and dump, even if the price is higher that the converted equivalent of BTC ->USD. Maybe its an emotional thing (you can never underestimate that little factor), but mining for a coin and then purchasing a better mining tool with the proceeds is a kick in itself.... like upgrading your race car engine with winning from your previous race 

[shadypepe]

can i safely assume this is dead? no launch time??

[sonysasankan]

can i safely assume this is dead? no launch time??

Yes... extremely safe to assume 

[bigjme]

This is far from dead. And if I'm honest, the delay has probably got more people interested in the coin

[flaminius]

In theory, the initial value of GPUC should be 71.51792382BTC / 325,000,000 coins (the IPO amount and the number of coins issued), for a value of 0.00000022 BTC per GPUC.

There will be  28,800,000 new GPUC mined every day (20,000 GPUC x 60 blocks/hour x 24 hours), meaning that the IPO holders have 11.28 days worth of coins at the outset.  This puts the IPO holders quite firmly in control of the value of this coin... anybody would be a fool to sell at less than cost, and they hold enough of the market share (still 50% of the market after 11 days) to be able to set a good sale price for GPUC.

As to actual value, as it stands right now, it sounds like the CEO was able to order 80 GPUs.  If we assume that he spent the entire IPO on them, that would leave each GPU worth 4,062,500 GPUC (325,000,000 GPUC / 80 GPUs) at most.

What happens to the value of GPUC once it hits market will be anybody's guess, but I would assume that as long as the IPO holders do not dump that the price will remain higher than 22 satoshis and GPUs will hopefully go for a couple hundred thousand GPUC instead of 4 million.

With its unique purpose of being used to buy GPUs, I don't think market cap or any other tool for comparison to other coins is useful in any way. At the end of the day, the only numbers that really mean anything are these:

How many BTC ('y') can CEO get for 'x' GPUC,
How much USD$ ('z') can CEO get for those 'y' BTC
How many GPUs ('g') can CEO get for those 'z' USD$
And fair market price = x/g (plus a bit of markup for the business)

The market will determine what it sees as a fair market price for GPUC, and the cost of a GPU in GPUC will fluctuate according to the exchange rates of GPUC/BTC/USD$, and I don't think there is any way to set a particular price point as long as those currency exchanges need to be made.

[bigjme]

I am wondering if the store will be set up to give live updates on price or not. I think it's going to be a wait and see coin.

As the store won't open till 2 weeks after the coin launch, it's in people's best interest to keep the coins. But by the time of the store opening the coin price could drop a lot and people may panic. But this is the word of crypto currency.  I just really hope this coin works out.

As a question for the devs,  do you have any rough idea on a release time? I.e. earlier in the day or later on the night?

[tylerderden]

I am wondering if the store will be set up to give live updates on price or not. I think it's going to be a wait and see coin.

As the store won't open till 2 weeks after the coin launch, it's in people's best interest to keep the coins. But by the time of the store opening the coin price could drop a lot and people may panic. But this is the word of crypto currency.  I just really hope this coin works out.

As a question for the devs,  do you have any rough idea on a release time? I.e. earlier in the day or later on the night?

I think it will, we will just make it work out . The dude isn't a wolong and is proving to be a stand up guy for the most part. That's a good start.

[bigjme]

Yeh, he seems trust worth. I've been here since the first launch and I'm still going to be here till it succeeds,  or fails. Either way this is most likely the coin I will stick with. At least until it's stupidly hard to mine because a single pool gets most the hash power

[Revelations86]

Has anyone heard back from the CEO regarding upping their IPO? Anyone know if its still available?

I just got an email that all refunded IPO investments have been purchased, so IPO is officially set now.  All that's left is a successful launch.

[trademark]

Has anyone heard back from the CEO regarding upping their IPO? Anyone know if its still available?

I just got an email that all refunded IPO investments have been purchased, so IPO is officially set now.  All that's left is a successful launch.

I upped my IPO about 30 minutes before that email. So hopefully it went through. 

[sonysasankan]

I am wondering if the store will be set up to give live updates on price or not. I think it's going to be a wait and see coin.

As the store won't open till 2 weeks after the coin launch, it's in people's best interest to keep the coins. But by the time of the store opening the coin price could drop a lot and people may panic. But this is the word of crypto currency.  I just really hope this coin works out.

As a question for the devs,  do you have any rough idea on a release time? I.e. earlier in the day or later on the night?

I think it will, we will just make it work out . The dude isn't a wolong and is proving to be a stand up guy for the most part. That's a good start.

"To pull a Wolong on someone"  

Its about time the phrase gets added to the urban dictionary...

"You just got Wolonged"... waahahahahhaha!!!

[Revelations86]

In theory, the initial value of GPUC should be 71.51792382BTC / 325,000,000 coins (the IPO amount and the number of coins issued), for a value of 0.00000022 BTC per GPUC.

There will be  28,800,000 new GPUC mined every day (20,000 GPUC x 60 blocks/hour x 24 hours), meaning that the IPO holders have 11.28 days worth of coins at the outset.  This puts the IPO holders quite firmly in control of the value of this coin... anybody would be a fool to sell at less than cost, and they hold enough of the market share (still 50% of the market after 11 days) to be able to set a good sale price for GPUC.

As to actual value, as it stands right now, it sounds like the CEO was able to order 80 GPUs.  If we assume that he spent the entire IPO on them, that would leave each GPU worth 4,062,500 GPUC (325,000,000 GPUC / 80 GPUs) at most.

What happens to the value of GPUC once it hits market will be anybody's guess, but I would assume that as long as the IPO holders do not dump that the price will remain higher than 22 satoshis and GPUs will hopefully go for a couple hundred thousand GPUC instead of 4 million.

With its unique purpose of being used to buy GPUs, I don't think market cap or any other tool for comparison to other coins is useful in any way. At the end of the day, the only numbers that really mean anything are these:

How many BTC ('y') can CEO get for 'x' GPUC,
How much USD$ ('z') can CEO get for those 'y' BTC
How many GPUs ('g') can CEO get for those 'z' USD$
And fair market price = x/g (plus a bit of markup for the business)

The market will determine what it sees as a fair market price for GPUC, and the cost of a GPU in GPUC will fluctuate according to the exchange rates of GPUC/BTC/USD$, and I don't think there is any way to set a particular price point as long as those currency exchanges need to be made.

Great analysis.  I for one will be holding my initial IPO shares for a long while as I'm looking at this for the long term.   What I like about this coin is that it won't be solely based on speculation as all the other coins are.   If this coin turns out to be a huge success, it would be the biggest come back that I've seen in altcoin history.    

[Hueristic]

it is a difficult concept but until a cryptocurrency finds a way to prevent pump and dump, no coin will truly stick around

Pump and dump happens because the products at hand have no real value, and everything just rides on pure speculation. Fiat runs solely because people accept them for goods and services....

Really? I've been mining Nobl for 2 months and buying amazon giftcards directly and buying gpu's with them and getting a 12% discount to boot. No BTC conversion fee's and no fee's for fiat change as well. I'm doing newegg cards there now as the price changed in neweggs favor for what I want.

[Revelations86]

I am wondering if the store will be set up to give live updates on price or not. I think it's going to be a wait and see coin.

As the store won't open till 2 weeks after the coin launch, it's in people's best interest to keep the coins. But by the time of the store opening the coin price could drop a lot and people may panic. But this is the word of crypto currency.  I just really hope this coin works out.

As a question for the devs,  do you have any rough idea on a release time? I.e. earlier in the day or later on the night?

I think it will, we will just make it work out . The dude isn't a wolong and is proving to be a stand up guy for the most part. That's a good start.

"To pull a Wolong on someone"  

Its about time the phrase gets added to the urban dictionary...

"You just got Wolonged"... waahahahahhaha!!!

That's comes 2nd to getting "Goxed".

[djm34]

Yeh, he seems trust worth. I've been here since the first launch and I'm still going to be here till it succeeds,  or fails. Either way this is most likely the coin I will stick with. At least until it's stupidly hard to mine because a single pool gets most the hash power

That's clearly what I fear especially since they decided to "ban" solomining by giving 0 gpu for the first 300 blocks.
For a small miner, your best chance to get a fair amount of coin is at launch time, so for me this decision sound like a big "fuck you" from the dev.

[Revelations86]

it is a difficult concept but until a cryptocurrency finds a way to prevent pump and dump, no coin will truly stick around

Pump and dump happens because the products at hand have no real value, and everything just rides on pure speculation. Fiat runs solely because people accept them for goods and services....

Really? I've been mining Nobl for 2 months and buying amazon giftcards directly and buying gpu's with them and getting a 12% discount to boot. No BTC conversion fee's and no fee's for fiat change as well. I'm doing newegg cards there now as the price changed in neweggs favor for what I want.

Where are you buying Amazon giftcards from?

[bigjme]

Exactly what I was thinking. It's about 3 hours from launch before blocks are worth anything. By then pools will be set up, and solo mining goes straight out the windows immediately

[tylerderden]

i hope its not just limited to gpu we can buy in the future w gpucoin. like tie it on other products maybe 

He has plan's for other goods too. Modular stackable cases and riser/boards that you can plug several gpu's into one pci express slot. and that's just what we know so far, who knows what else he has lined up. If it all works out it should be a pretty decent coin.