[GPUC] GPU Coin | Mandatory Wallet Update

[jimlite]

I took micryons suggestion and wish to put the wallet out Saturday to allow the network to ramp instead of hitting a wall of traffic.  This should alleviate all prior issues and provide the proper launch.  I will be updating the OP with block countdowns to inform everyone when the 20,000 GPUC blocks will start.

Sounds like a good plan, but PLEASE
make sure the 20,000 GPUC blocks will
start as planned on SUNDAY BETWEEN
3PM and 5PM Eastern.  No one wants to
be up at 4 am again Monday morning
seeing if everything is OK when the
real 20,000 coin launch is. And we also
don't want it to accidentally kick in
Sunday at 4 am!

[precrime3]

So if the GPUC wallet release Saturday, coin launch is Sunday still? Or the 20,000 coin blocks start Sunday? Clarification please

[BKM]

Thanks flaminius, very helpful.

There's something else to consider. Hypothetically: I'm a miner, and I want more GPUs. I don't mine GPUCoin, I'm into WhateverCoin. But I do know that I can buy GPUs for GPUCoin and save some serious cash. So I check the price of the GPUs to see how many GPUCoins I need. I go to Coinbase, buy BTC, go to an exchange, exchange BTC for GPUC, back to GPUCoins.com and buy my cards. A slight hassle, but if I can save $50 a card on 4 cards, totally worth it.

Now, did you see what I didn't have to consider in that process? The going rate for GPUCoins. In this scenario, which if GPUCoin can keep a decent stock, should play out all the time, I don't care if GPU coins are 22 satoshis or 22000. All I care is that I get $435 x 4 worth so I can buy my new cards.

To me, this is huge. All of a sudden you have a coin where people will be placing buy orders regardless of price, because they are going to spend those coins in 15 minutes. I'm pretty sure this is unprecedented in the cryptocoin world.

See now this is where it changes. For me in the UK, i would be better to sell my coins to BTC and buy direct from the UK with BTC. This is because of import duty and shipping costs. But i would still be using the coins to buy GPUs

So exchanges would be good for me personally, but then its how to sell the coins for BTC without dropping the price of the coin because of exchange undercutting. So would it be easier to trade directly with someone? keep the coins off the open market and prevent the price being dropped. But then it comes down to trust also

this is where i think the coin forum might come in handy for direct trades between people. obviously not as secure as an exchange however

i think as long as the store is connected to an exchanges API and tells us the going rate for the GPU in GPUC (get GPUC/BTC price, then BTC/USD) it will work out great

Another point would be the efficiency of GPUCoin creating fulfillment affiliate relationships in Australia and the EU to start with followed by Asia and Latin America. This will allow the concept to scale quickly and unlock greater economic leverage for the buying group. Established independent players in the electronics distribution business will add value to the business model with their expertise and relationships in addition to volume. They will also add value to GPUCoin with greater network effect. For example, bring Culexevilman onto the program https://bitcointalk.org/index.php?topic=393218.0. I would place this as the greatest priorty next to the coin relaunch. It makes absolutely no sense to ship GPU's over a border except perhaps between the USA and Canada initially. There are independent electronics dealers such as http://www.memoryexpress.com/Stores here that might fit the bill in Canada as an affiliate. It would be a huge coup to bring some of these into the GPUCoin family.

[bigjme]

Aria.co.uk accepts payments directly in BTC.
I'm sure they wouldn't mind sending gpus if the ceo traded the gpuc to btc,  then paid the store

Would mean direct shipping in the UK

[micryon]

One thing to note about this launch option:

It will not be 100% predictable leading up to the start of mining rewards on when mining will start.  KGW is currently non deterministic enough in that when large amounts of hash power gets added/accelerated, blocks do get generated a little bit faster during large gaps. 

Even with a -1 day look ahead, we're looking at an error margin of at least +/- 8 hours.

Obviously as we get closer to block 2600.. we start approaching 99.99% predictability.. So if we launch wallets on saturday (starting at block 200 or so).. expect it to be anything between That time +8 hrs, to that time +24 hrs.. with more zeroing in as we approach closer...

So it has drawbacks.. But ultimately it's fair in that everyone will know and be able to see which block we are on, and they make their own judgement on when they apply their miners .. pools will be up and ready to go.. so you can start hashing saturday , and just leave it on.. if you are afraid of missing the boat...  At somepoint whenever the switch over happens, your miner on pool will be earning.

I took micryons suggestion and wish to put the wallet out Saturday to allow the network to ramp instead of hitting a wall of traffic.  This should alleviate all prior issues and provide the proper launch.  I will be updating the OP with block countdowns to inform everyone when the 20,000 GPUC blocks will start.

Sounds like a good plan, but PLEASE
make sure the 20,000 GPUC blocks will
start as planned on SUNDAY BETWEEN
3PM and 5PM Eastern.  No one wants to
be up at 4 am again Monday morning
seeing if everything is OK when the
real 20,000 coin launch is. And we also
don't want it to accidentally kick in
Sunday at 4 am!

[BKM]

I dunno if this could be any help or not for the next launch, but, ECC launched lastnight and it was absolutely flawless, with close to 3gigahash right at launch and sustained it for about an hour. Network hash is half that right now. They released source and wallets right on time and within minutes everything was synced.

Maybe the owner / devs here could talk to the team which launched the coin and get input / suggestions?

Link: https://bitcointalk.org/index.php?topic=503236.0

Not supporting or endorsing the coin, but it was an example of a professional launch.

Coin launched went well but most if not all pools were down in the first 20 minutes of launch.

Yeah, because they had to download and compile the source and setup their config files. Nothing, not even coin specs, were released to pool operators prior to launch. Once they released code, I had my pool up within 10 minutes. A delay at launch is not unusual while everyone is compiling the server backend.

Flawless launch, and still running smooth.

What is your pool vesper?

[SP4RK7]

One thing to note about this launch option:

It will not be 100% predictable leading up to the start of mining rewards on when mining will start.  KGW is currently non deterministic enough in that when large amounts of hash power gets added/accelerated, blocks do get generated a little bit faster during large gaps. 

Even with a -1 day look ahead, we're looking at an error margin of at least +/- 8 hours.

Obviously as we get closer to block 2600.. we start approaching 99.99% predictability.. So if we launch wallets on saturday (starting at block 200 or so).. expect it to be anything between That time +8 hrs, to that time +24 hrs.. with more zeroing in as we approach closer...

So it has drawbacks.. But ultimately it's fair in that everyone will know and be able to see which block we are on, and they make their own judgement on when they apply their miners .. pools will be up and ready to go.. so you can start hashing saturday , and just leave it on.. if you are afraid of missing the boat...  At somepoint whenever the switch over happens, your miner on pool will be earning.

I took micryons suggestion and wish to put the wallet out Saturday to allow the network to ramp instead of hitting a wall of traffic.  This should alleviate all prior issues and provide the proper launch.  I will be updating the OP with block countdowns to inform everyone when the 20,000 GPUC blocks will start.

Sounds like a good plan, but PLEASE
make sure the 20,000 GPUC blocks will
start as planned on SUNDAY BETWEEN
3PM and 5PM Eastern.  No one wants to
be up at 4 am again Monday morning
seeing if everything is OK when the
real 20,000 coin launch is. And we also
don't want it to accidentally kick in
Sunday at 4 am!

Everything sounding great so far, a lot more organized and I'm sure this will be a successful launch.

Could maybe do with updating the first post to let everyone know, otherwise bound to be people who miss this info

[coins-pool.fr]

Again ?

[yaboymarvo]

So if the wallet is released Saturday that means solo mining is possible that day too right? Or am i completely wrong?

[SP4RK7]

So if the wallet is released Saturday that means solo mining is possible that day too right? Or am i completely wrong?

You can solo mine I imagine, but you will only get 1 GPU coin per block found

[bigjme]

yes you can solo mine as of saturday, and pools will be set up saturday aswell ready for sunday.

but what pools are we all picking? what seems/has proven to be the best so far in stability?

[bayn070]

yes you can solo mine as of saturday, and pools will be set up saturday aswell ready for sunday.

but what pools are we all picking? what seems/has proven to be the best so far in stability?

XHash.net

[SP4RK7]

Hashfever and Poolerino are ones I've mined with before and always been pretty reliable I'm sure there will be quite a few jumping in once the coin is fully launched

[ocminer]

So...  Get ready for the next launch..

Test and Prepare Your miners  @ https://gpu.suprnova.cc
Mine Vertcoin until the switch will be done automatically like two times before already.


If you rather like to Mine Pandacoin until the launch, look at https://panda.suprnova.cc

Jump in,  lets get this thing finally Rolling!

[phaddie]

I took micryons suggestion and wish to put the wallet out Saturday to allow the network to ramp instead of hitting a wall of traffic.  This should alleviate all prior issues and provide the proper launch.  I will be updating the OP with block countdowns to inform everyone when the 20,000 GPUC blocks will start.

Sounds like a good plan, but PLEASE
make sure the 20,000 GPUC blocks will
start as planned on SUNDAY BETWEEN
3PM and 5PM Eastern.  No one wants to
be up at 4 am again Monday morning
seeing if everything is OK when the
real 20,000 coin launch is. And we also
don't want it to accidentally kick in
Sunday at 4 am!

I think you may be wrong about the time. Twitter says 23:00 EST.

[kache]

yes you can solo mine as of saturday, and pools will be set up saturday aswell ready for sunday.

but what pools are we all picking? what seems/has proven to be the best so far in stability?

Xhash was the first one up and the most reliable in both (failed) relaunches, so I'm sticking with that.

[daemmon]

NeverLaunchCoin, from the devs of PotatoCoin !

[illiki23]

Just looking through the thread I cannot find this information so:

Does anybody know if there will be a set price in GPUCoin for the GPUs on the store, or if the price for GPUs in GPUCoin will be calculated when purchasing based on the price of bitcoin?

With the first option there is a risk for the GPUCoin store to lose money, but in general the price of GPUCoin itself would have some backing.

With the second option the GPUCoin store will always make money, but the price of GPUCoin itself versus bitcoin would become arbitrary and could go down.

[bigjme]

Most likely the second option

[yaboymarvo]

second option