[GPUC] GPU Coin | Mandatory Wallet Update

[jollyriffic]

mintpal and some of the other suggested places are sort of bum exchanges.. all the cheap crap is there.
why not just go full bore and pay to have it put on btc-e.com

if you were going to invest in building/make something wouldnt you rather do it right the first time?

[lorenzz]

Hi guys, i'm mining with vertcoin miner, 4gb RAM and 2x 280x, my setup is:
-v 1 -w 256 -g 2 -I 13 --lookup-gap 2,2 --thread-concurrency 8192,8192 --gpu-engine 1000,1000 --gpu-memclock 1497,1497 --gpu-powertune -20,-20 --auto-fan --temp-target 72,72 --temp-overheat 82,82 --temp-cutoff 90,90  

my hash power is 359 each graphic (tot 720) card but my WU is 528 is it normal or there are possibility to improve it?
Thanks!

[SP4RK7]

Obviously he will set the sell price in GPUC to be profitable. Though this will be tricky with the thin order book. Just looking on NXT-E there are only total bids for 0.4BTC (of course demand for the coin can/will change when the store opens up) But so far there is only order depth to buy 1 GPU! This is of course a problem. I really don't see him being able to sell 80 GPU cards anytime soon with that thin of volume.

Yeah, that's the problem. The volume is not there yet and if you sell the GPU's at market value, only a few IPOs can afford it.  You can't mine 3 million by the time the store opens (unless you're a big dog, pretty sure they don't need a 280x) and you can't even buy 3million at market value right now either.  It's just going to be too much trouble for people, might as well pay the extra bucks and get it online some where.  

This is an example of how I see it working I sent a PM to Hendr1x and he has posted it in the pricing discussion on the official forum. There isn't much activity there so I thought I'd re-post here.

I'm not saying this is perfect, the whole point of putting it on the forum I guess was to pick holes in it and see where it may fall down.

Current BTC price is $628
The price of a 280x according to the front page is $435
Current GPUC price is about 0.00000033 BTC

So if I wanted to buy a 280x now it would cost me 0.69 BTC or 2,090,090 GPUC (0.69/0.00000033=2090090)

As the price of GPUC rises the amount of GPUC I would need to purchase a 280x would fall.

As the majority of miners may for example only be able to mine 500,000 GPUC over the course of say a month they would then need a further 1.5 million GPUC to be able to purchase the card. They could mine for 3 more months or they could go on an exchange and buy some more GPUC.

The advantage to buying the remaining coins instead of mining them is that as they buy up the coins from 0.00000033 to say 0.00000044 the price on the shop front as it is directly linked would fall, so instead of needing to mine a further 1.5 million coins they would only need a further 1,068,181 GPUC

0.69 BTC / 0.00000044 = 1,568,181 GPUC (the 500,000 they have mined + 1.068,181 bought on the exchange.

You can see how this would constantly create the need to purchase GPUC as well as mining it. It also has the advantage of you would be getting you GPU's at a lot less $ than if you bought them directly with fiat.

[Cyber_Punk]

mintpal and some of the other suggested places are sort of bum exchanges.. all the cheap crap is there.
why not just go full bore and pay to have it put on btc-e.com

if you were going to invest in building/make something wouldnt you rather do it right the first time?

I have heard some bad things about btc-e.  To be honest I don't see why everyone is wanted to push for another exchange so fast.  The major exchanges used just turn coins into pump and dumps and eventually just kill them.  I have been using Atomic-Trade for the last few days and I love this trading site.  Everything is fast the layout is neat and I can buy or cash out in Fiat.  Yes you have to be verified or fiat but thats only so they can comply with U.S laws on exchanges.  I can see this exchange over taking the major ones in a couple of months time (if not sooner).  So why in the world does everyone want this coin on cryptsy so fast?  Do you not realize that this will just drive the price to 1 satoshi??  Until the market is up and running I would not worry about any other exchanges unless you just want to pump and dump this coin (which will kill the value before the market opens).

[phaddie]

Obviously he will set the sell price in GPUC to be profitable. Though this will be tricky with the thin order book. Just looking on NXT-E there are only total bids for 0.4BTC (of course demand for the coin can/will change when the store opens up) But so far there is only order depth to buy 1 GPU! This is of course a problem. I really don't see him being able to sell 80 GPU cards anytime soon with that thin of volume.

Yeah, that's the problem. The volume is not there yet and if you sell the GPU's at market value, only a few IPOs can afford it.  You can't mine 3 million by the time the store opens (unless you're a big dog, pretty sure they don't need a 280x) and you can't even buy 3million at market value right now either.  It's just going to be too much trouble for people, might as well pay the extra bucks and get it online some where.  

This is an example of how I see it working I sent a PM to Hendr1x and he has posted it in the pricing discussion on the official forum. There isn't much activity there so I thought I'd re-post here.

I'm not saying this is perfect, the whole point of putting it on the forum I guess was to pick holes in it and see where it may fall down.

Current BTC price is $628
The price of a 280x according to the front page is $435
Current GPUC price is about 0.00000033 BTC

So if I wanted to buy a 280x now it would cost me 0.69 BTC or 2,090,090 GPUC (0.69/0.00000033=2090090)

As the price of GPUC rises the amount of GPUC I would need to purchase a 280x would fall.

As the majority of miners may for example only be able to mine 500,000 GPUC over the course of say a month they would then need a further 1.5 million GPUC to be able to purchase the card. They could mine for 3 more months or they could go on an exchange and buy some more GPUC.

The advantage to buying the remaining coins instead of mining them is that as they buy up the coins from 0.00000033 to say 0.00000044 the price on the shop front as it is directly linked would fall, so instead of needing to mine a further 1.5 million coins they would only need a further 1,068,181 GPUC

You can see how this would constantly create the need to purchase GPUC as well as mining it. It also has the advantage of you would be getting you GPU's at a lot less $ than if you bought them directly with fiat.

I think I like this Idea.  But does the price change realtime or does it change twice a day?  I think if it was realtime there would be problem with people placing a buy order for a few GPUCoin at a crazy high price just before they purchase with GPU.

Whereas if it changes twice a day to be the average of the last 12 hours or some such thing, this could make for some interesting market movement.

[jollyriffic]

Hi guys, i'm mining with vertcoin miner, 4gb RAM and 2x 280x, my setup is:
-v 1 -w 256 -g 2 -I 13 --lookup-gap 2,2 --thread-concurrency 8192,8192 --gpu-engine 1000,1000 --gpu-memclock 1497,1497 --gpu-powertune -20,-20 --auto-fan --temp-target 72,72 --temp-overheat 82,82 --temp-cutoff 90,90  

my hash power is 359 each graphic (tot 720) card but my WU is 528 is it normal or there are possibility to improve it?
Thanks!

if you use linux add this to the top of your config
setx GPU_MAX_ALLOC_PERCENT 200
setx GPU_USE_SYNC_OBJECTS 1
del *.bin

if you use windows add this to the top of your config
setx GPU_MAX_ALLOC_PERCENT 100
setx GPU_USE_SYNC_OBJECTS 1
del *.bin

i'd try to get your core speed up to 1100 if you can.
with -n you get a better hash with more core, ram seems to be a bit less important.

[SP4RK7]

Obviously he will set the sell price in GPUC to be profitable. Though this will be tricky with the thin order book. Just looking on NXT-E there are only total bids for 0.4BTC (of course demand for the coin can/will change when the store opens up) But so far there is only order depth to buy 1 GPU! This is of course a problem. I really don't see him being able to sell 80 GPU cards anytime soon with that thin of volume.

Yeah, that's the problem. The volume is not there yet and if you sell the GPU's at market value, only a few IPOs can afford it.  You can't mine 3 million by the time the store opens (unless you're a big dog, pretty sure they don't need a 280x) and you can't even buy 3million at market value right now either.  It's just going to be too much trouble for people, might as well pay the extra bucks and get it online some where.  

This is an example of how I see it working I sent a PM to Hendr1x and he has posted it in the pricing discussion on the official forum. There isn't much activity there so I thought I'd re-post here.

I'm not saying this is perfect, the whole point of putting it on the forum I guess was to pick holes in it and see where it may fall down.

Current BTC price is $628
The price of a 280x according to the front page is $435
Current GPUC price is about 0.00000033 BTC

So if I wanted to buy a 280x now it would cost me 0.69 BTC or 2,090,090 GPUC (0.69/0.00000033=2090090)

As the price of GPUC rises the amount of GPUC I would need to purchase a 280x would fall.

As the majority of miners may for example only be able to mine 500,000 GPUC over the course of say a month they would then need a further 1.5 million GPUC to be able to purchase the card. They could mine for 3 more months or they could go on an exchange and buy some more GPUC.

The advantage to buying the remaining coins instead of mining them is that as they buy up the coins from 0.00000033 to say 0.00000044 the price on the shop front as it is directly linked would fall, so instead of needing to mine a further 1.5 million coins they would only need a further 1,068,181 GPUC

You can see how this would constantly create the need to purchase GPUC as well as mining it. It also has the advantage of you would be getting you GPU's at a lot less $ than if you bought them directly with fiat.

I think I like this Idea.  But does the price change realtime or does it change twice a day?  I think if it was realtime there would be problem with people placing a buy order for a few GPUCoin at a crazy high price just before they purchase with GPU.

Whereas if it changes twice a day to be the average of the last 12 hours or some such thing, this could make for some interesting market movement.

I think it would need to be real-time, I'm not sure what you mean by people placing buy orders at crazy high prices? Can you explain more?

I think you would need safe guards in place to stop intentional market manipulation so if there was suddenly a 50% drop or increase in the price of GPUC the shop front would stop taking orders until it could be checked out.

[jollyriffic]

mintpal and some of the other suggested places are sort of bum exchanges.. all the cheap crap is there.
why not just go full bore and pay to have it put on btc-e.com

if you were going to invest in building/make something wouldnt you rather do it right the first time?

I have heard some bad things about btc-e.  To be honest I don't see why everyone is wanted to push for another exchange so fast.  The major exchanges used just turn coins into pump and dumps and eventually just kill them.  I have been using Atomic-Trade for the last few days and I love this trading site.  Everything is fast the layout is neat and I can buy or cash out in Fiat.  Yes you have to be verified or fiat but thats only so they can comply with U.S laws on exchanges.  I can see this exchange over taking the major ones in a couple of months time (if not sooner).  So why in the world does everyone want this coin on cryptsy so fast?  Do you not realize that this will just drive the price to 1 satoshi??  Until the market is up and running I would not worry about any other exchanges unless you just want to pump and dump this coin (which will kill the value before the market opens).

btc-e is fantastic!
since coins are a commodity and not currency, you do not need to submit any type of ID/verification to meet US exchange laws.
On btc-e i can cash out to anything i want all the way down to paypal, and i dont need any sort of "Verification".
I'm not looking to have this coin on a bunch of exchanges, just ones that matter.
I personally will never trade on a site that requires me to submit personal details about myself. just look how that turned out for gox members, right now you can download everyones id, passport, etc thanks to the hacker group that did a full sweep/download of gox after they shut their doors.

[phaddie]

So lets say the realime exchange rate is based on nxt and the price of a 280x is 600 GPUand a BTC is $600.  The current price on nxt is 30 so I would need 3333333 gpu coin to buy the 280.  However is just before I was to purchse the 280 x I placed a buy order for 10 GPU at 60 satoshi then the realtime price trakker would report a price of 60 satoshi and let me buy the 280x for half the amount of GPU.

  This would be bad.

  Phad.

[jimlite]

Well, here is my problem, and I have been mining this since the start (each one).
I usually mine a coin 24/7 and sell just enough of it to cover my electric bill,
holding the rest (for gpus!). Now I can't do this anymore since the price on the
small exchanges is so low  and no buyers.  So I mine GPU coin a little and spend
the rest of the day at clevermining, wafflepool, hashcows, or middlecoin.  You
guys need to promote and get the value up, and at least a medium volume
exchange is needed so people can buy GPU coin by selling their other mined coins.

[SP4RK7]

So lets say the realime exchange rate is based on nxt and the price of a 280x is 600 GPUand a BTC is $600.  The current price on nxt is 30 so I would need 3333333 gpu coin to buy the 280.  However is just before I was to purchse the 280 x I placed a buy order for 10 GPU at 60 satoshi then the realtime price trakker would report a price of 60 satoshi and let me buy the 280x for half the amount of GPU.

  This would be bad.

  Phad.

I think I understand what your saying.

Maybe it would have to work from on an average from multiple exchanges over the past hour, possibly also taking volume into account in some way.

I'm not sure how easy this would be to do though.

 

[polarpanda]

Well, here is my problem, and I have been mining this since the start (each one).
I usually mine a coin 24/7 and sell just enough of it to cover my electric bill,
holding the rest (for gpus!). Now I can't do this anymore since the price on the
small exchanges is so low  and no buyers.  So I mine GPU coin a little and spend
the rest of the day at clevermining, wafflepool, hashcows, or middlecoin.  You
guys need to promote and get the value up, and at least a medium volume
exchange is needed so people can buy GPU coin by selling their other mined coins.

That's how it goes. As long as electricity can be turned into GPUCoins, it is roughly the max price of the coin.

If there, for some reason, was shortage of the GPUCoins and at the same EXACT time a big supply of graphics cards available, then the price might momentarily exceed the cost of creating more coins.

[d4wn0ff473]

Well, here is my problem, and I have been mining this since the start (each one).
I usually mine a coin 24/7 and sell just enough of it to cover my electric bill,
holding the rest (for gpus!). Now I can't do this anymore since the price on the
small exchanges is so low  and no buyers.  So I mine GPU coin a little and spend
the rest of the day at clevermining, wafflepool, hashcows, or middlecoin.  You
guys need to promote and get the value up, and at least a medium volume
exchange is needed so people can buy GPU coin by selling their other mined coins.

That's how it goes. As long as electricity can be turned into GPUCoins, it is roughly the max price of the coin.

If there, for some reason, was shortage of the GPUCoins and at the same EXACT time a big supply of graphics cards available, then the price might momentarily exceed the cost of creating more coins.

There will be a shortage in 457 days, the mining schedule as it appears in the ANN is only 457 days since the block rewards do not halve. So in roughly a year and a half miners will only get transaction fees, which is a fairly short schedule.

[vesperwillow]

btc-e is fantastic!

You will have better odds of solomining BTC than getting this coin listed on BTCe. They sortof have a policy against altcoins, with exception of what they consider foundational altcoins. Cryptsy is your best chance at a major exchange.

[hendr1x]

Unfortunately I don't have much time but I posted a quick response about store front pricing on the forum if anyone would like to read : http://gpucoinforum.com/viewtopic.php?f=17&t=2730&p=2817#p2817

[jimlite]

Unfortunately I don't have much time but I posted a quick response about store front pricing on the forum if anyone would like to read : http://gpucoinforum.com/viewtopic.php?f=17&t=2730&p=2817#p2817

Whatever you and the CEO decide to do, just keep in mind
that it is crucial that the value of the coin goes up, not down.
Miners are already fleeing this coin due to not being able to
even cover their electricity (yet alone a profit) and not being
any volume on any exchange.  Maybe the company should
be buying coins to get the price up, like a stock buy back.
I don't know, but this coin is going to need more miners,
more exchanges, and a lot more PR to succeed.  Personally
I think that someone said the block reward would be 20,000
for 457 days till it halves.  You really need to post the block
halving times and amounts. That seems like an awfull high
payout and a really long time till the coin becomes scarce,
and valuable.  No one wants to mine a 2 difficulty coin at
20,000/block and need like 1 Billion to buy a gpu.  People
would rather mine at 200/block and only need 100,000 to
buy a gpu. I know the math is the same, but less coins generated
makes them rarer and seem more valuable as well as have
a higher price on the exchanges unlike a scam coin at 20 satoshis.
If the coin was rare enough it could be $1/coin and only need 400
to buy a gpu. THEN people would actually buy the coin, which
is what we need.

[polarpanda]

There will be a shortage in 457 days, the mining schedule as it appears in the ANN is only 457 days since the block rewards do not halve. So in roughly a year and a half miners will only get transaction fees, which is a fairly short schedule.

Right. Lets say the day was tomorrow and all 13 Billion coins were mined. Lets also say that the price per card is 1M GPUCoins. These 13B coins would mean that evenly distributed this would lead into 13,000 "vouchers" good for a card each. Once the voucher is used it's resold (at a profit) back for someone else to use. As long as there is someone to buy the 1M CPUCoin "voucher", at the commission the shopkeeper sees fit, we have a market. So in 1,5 years we will basically have shop where you are buying hardware with money.

I really hope this project turns into something great but at the moment most can do is keep their fingers crossed.

Ps. Like I wrote earlier, what stops anyone of you from starting to accept GPUCoins in exchange for hardware right now? This way you can set a price and get things going tomorrow. If I had a spare card, I'd auction it off to see what the value of CPUCoin is ;-)

[Warning__3]

So how much do i need to mine to get a new gpu?

[jimlite]

There will be a shortage in 457 days, the mining schedule as it appears in the ANN is only 457 days since the block rewards do not halve. So in roughly a year and a half miners will only get transaction fees, which is a fairly short schedule.

Right. Lets say the day was tomorrow and all 13 Billion coins were mined. Lets also say that the price per card is 1M GPUCoins. These 13B coins would mean that evenly distributed this would lead into 13,000 "vouchers" good for a card each. Once the voucher is used it's resold (at a profit) back for someone else to use. As long as there is someone to buy the 1M CPUCoin "voucher", at the commission the shopkeeper sees fit, we have a market. So in 1,5 years we will basically have shop where you are buying hardware with money.

I really hope this project turns into something great but at the moment most can do is keep their fingers crossed.

Ps. Like I wrote earlier, what stops anyone of you from starting to accept GPUCoins in exchange for hardware right now? This way you can set a price and get things going tomorrow. If I had a spare card, I'd auction it off to see what the value of CPUCoin is ;-)

Now THAT is a good idea! GOOD PR.
Why doesn't CEO AUCTION a card for GPU coin,
post on twitter and here. GO VIRAL with the
auction and get buzz going about the coin.

[cozk]

mintpal and some of the other suggested places are sort of bum exchanges.. all the cheap crap is there.
why not just go full bore and pay to have it put on btc-e.com

if you were going to invest in building/mak6e something wouldnt you rather do it right the first time?

THIS!

Yes becasue getting on BTC-e is really easy...

GPUcoin is shit lets face it.

I'm a bag holder and i admit it.