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Jherek
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March 10, 2014, 11:25:17 AM |
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So you saying only morons mining this? I mean, with this price its not even reaching ROI with powercosts.
Well.. blockchain doesn't lie... at least if it isn't on a fork..  I just remember the sound of "this can not be dumped and is multipool resistant". And now regular miners do just the same as multipools. |
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Amph
Legendary
 Offline
Activity: 3206
Merit: 1069
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March 10, 2014, 11:25:33 AM |
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So the coin has only been truly launched since 6 hours ago and people are already:
-quitting because it's too hard
-bitching about price not good enough
-calling it a scam
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Come on, seriously....
tell me what is the point to mine a new coin with such high difficulty? Tell me what other coin was already on big exchanges and had a nice price 6 hours after launch? nice price? 26 satoshi now lol thinking that this coin won't be dumped because there wasn't instamine, is really naive |
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Nerror
Newbie
Offline
Activity: 5
Merit: 0
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March 10, 2014, 11:33:46 AM |
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It seems with a redownloaded Block-Chain those transactions get confirmed slowly, there are probably multiple forks in the network which seem to re-merge later. Its a problem that hashrate is so uneven spread, one pool as almost 80% of the network. Please wait a few hours until your payouts get confirmed, if they are still not confirmed by this evening I'll look into it again. https://gpu.suprnova.ccAm still missing 1,051.28213451 GPU coins which was the 1st AP which should of been sent to me. The following two payments were fine though. I have reloaded the blockchain and am still awaiting those coins to turn up. Hope this issue gets sorted. I gave up on resyncing and just restored the backed up client. My missing GPU just showed up now from suprnova. A few hours late, but they came at least. |
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madbit1000
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March 10, 2014, 11:37:24 AM |
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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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You should not buy a warrant unless you are prepared to sustain a total loss of the money you have invested plus any commission or other transaction charges
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kke
Member
Offline
Activity: 96
Merit: 10
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March 10, 2014, 11:42:20 AM |
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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.
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djm34
Legendary
Offline
Activity: 1400
Merit: 1050
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March 10, 2014, 11:42:30 AM |
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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..
+1 (especially if you live outside the US) |
djm34 facebook pageBTC: 1NENYmxwZGHsKFmyjTc5WferTn5VTFb7Ze Pledge for neoscrypt ccminer to that address: 16UoC4DmTz2pvhFvcfTQrzkPTrXkWijzXw
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Kestrel71
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March 10, 2014, 11:43:24 AM |
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It seems with a redownloaded Block-Chain those transactions get confirmed slowly, there are probably multiple forks in the network which seem to re-merge later. Its a problem that hashrate is so uneven spread, one pool as almost 80% of the network. Please wait a few hours until your payouts get confirmed, if they are still not confirmed by this evening I'll look into it again. https://gpu.suprnova.ccAm still missing 1,051.28213451 GPU coins which was the 1st AP which should of been sent to me. The following two payments were fine though. I have reloaded the blockchain and am still awaiting those coins to turn up. Hope this issue gets sorted. I gave up on resyncing and just restored the backed up client. My missing GPU just showed up now from suprnova. A few hours late, but they came at least. As I was reading your reply mine turned up too. |
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Zackgeno96
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March 10, 2014, 11:43:31 AM |
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im out wasted my time
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kke
Member
Offline
Activity: 96
Merit: 10
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March 10, 2014, 11:46:06 AM |
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JOIN NOW! ALREADY 100 Mh/s!
Our node found a block with just 1 Mh/s!
Are you sure you understand how p2pool works?  |
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djek31
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March 10, 2014, 11:46:43 AM |
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Lol! Not even going to say I told you so! But I told you so. Lmao
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Jherek
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March 10, 2014, 11:48:27 AM |
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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.
Aww.. don't scare them with reason! |
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madbit1000
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March 10, 2014, 11:48:31 AM |
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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.. |
You should not buy a warrant unless you are prepared to sustain a total loss of the money you have invested plus any commission or other transaction charges
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j23a
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March 10, 2014, 11:52:11 AM |
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It's a very risky business model. The main person stands to lose a lot of money if things don't go as planed.
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TBTSX4-NKRX55-HF2ECG-SHPBG3-XIDD2Y-QDRI3N-P2O6 |
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junkozane
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March 10, 2014, 11:53:42 AM |
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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?
they got the hardware free from IPO money |
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JwTdd
Newbie
Offline
Activity: 5
Merit: 0
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March 10, 2014, 11:58:37 AM |
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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?
Dealers and customer have different prices, but they have a contrat to not sell them under a certain price, the fact is that they dont need contract to exchange them with potatoes (aka gpuc), so they can break the "price". The only thing they are selling is gpucoin, can't even say you buy GPU with gpuc as it's not money. |
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djm34
Legendary
Offline
Activity: 1400
Merit: 1050
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March 10, 2014, 11:58:41 AM |
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It's a very risky business model. The main person stands to lose a lot of money if things don't go as planed.
You mean the CEO ? For him it's a win-win situation (unless he does some stupid things like fixed rate gpucoin/gpu, he really has nothing to lose) The guy was able to start a small business without any fund or loan thanks to the IPO (and without even giving any shares) I would suggest him to get in touch with alcurex, may-be they could have some idea for designing an API for online payment in gpucoin (or else) |
djm34 facebook pageBTC: 1NENYmxwZGHsKFmyjTc5WferTn5VTFb7Ze Pledge for neoscrypt ccminer to that address: 16UoC4DmTz2pvhFvcfTQrzkPTrXkWijzXw
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madbit1000
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March 10, 2014, 12:03:34 PM |
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It's a very risky business model. The main person stands to lose a lot of money if things don't go as planed.
How, unless it cost more than the IPO funds to pay for the GPU's. I am sticking with this coin, but very anxious. I am interested to see how the business plan pans out. I just hope for everyone's sake that they have more than just selling GPU's and hardware. |
You should not buy a warrant unless you are prepared to sustain a total loss of the money you have invested plus any commission or other transaction charges
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Sharky444
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March 10, 2014, 12:04:01 PM |
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I've tried to send my GPUCoin address to get my share from investment, but all emails are returned with this kind of error message (worked 1 week ago): " ipo@gpucoin.net": domain has no valid mail exchangers I sent mine a couple of hours ago worked fine Just tried again, from 3 different email providers. Everytime got this 15-30 seconds later: " ipo@gpucoin.net": domain has no valid mail exchangers |
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