[GPUC] GPU Coin | Mandatory Wallet Update

[g.r.o.s.s]

correct me if im wrong but selling the current batch at low rates and then starting marketing should be the most beneficial for the store and thus for the coin itself. accumulate as much coins at possible -> drive the price up -> have enough money for a bigger batch. sure sucks for guys who mined for a gpu but for holders and people looking to buy a gpu it should be beneficial?

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[hendr1x]

I hate to be contrary but the bid price is the best reflection of the 'real' price.  What people are willing to pay vs get paid...  works in our favor I guess.

Hendr1x, can you index the storefront items to market price?  I want to be able to list in the storefront but not at a fixed GPU price, I want to be able to specify a $ price (as the GPUs are) and have the system compute the GPU price.  Possible?  

It is definitely possible but it won't be done right away.  I wrote it down on my todo list and won't forget about it.

[vesperwillow]

I hate to be contrary but the bid price is the best reflection of the 'real' price.  What people are willing to pay vs get paid...  works in our favor I guess.

Hendr1x, can you index the storefront items to market price?  I want to be able to list in the storefront but not at a fixed GPU price, I want to be able to specify a $ price (as the GPUs are) and have the system compute the GPU price.  Possible?  

It is definitely possible but it won't be done right away.  I wrote it down on my todo list and won't forget about it.

It may be wise to evaluate the method I mentioned to you in PM, which takes into account for volume. Otherwise anyone could literally control the price of the coin with a few accounts on exchanges and very little ownership in the coin.

[kahir]

i just tweeted to poloniex to add gpuc

[silverfern]

correct me if im wrong but selling the current batch at low rates and then starting marketing should be the most beneficial for the store and thus for the coin itself. accumulate as much coins at possible -> drive the price up -> have enough money for a bigger batch. sure sucks for guys who mined for a gpu but for holders and people looking to buy a gpu it should be beneficial?

Unfortunately, at the moment the force that is driving the price down the the mine and dump people. If you look at the volume, there isn't huge volumes that are being sold at really low prices. As long as we continue to be on exchanges where the price is being driven by the last price of the selling and buying regardless of volume this is what will happen. Some of the mine and dump don't care about what price they can sell it off as long as it is being sold. So holding onto as many coins as possible with our current exchanges, I don't think, will do much. Regardless of whether we were having 20000 coins per block or 50 coins per block.

What we do need to drive up the price is get onto a better exchange where price isn't reflected on the last price sold (since people can manipulate that). And to get more popularity in the coin where we can create more buying power to snap up the low prices.

[jimlite]

I just got an email.

Your card has been shipped and should arrive around Monday

[vesperwillow]

Exchange won't matter. Lifeblood is in the flow of the product off the shelves, and the restocking. People need to be using the coin. I realize this discussion is coming from people not having enough coin to make a purchase (at least, some folks), but there are folks who do have plenty of coin and are simply holding.

To be honest if you look at the price in the store and upvert it to USD, it's a good deal on many cards. I'm surprised someone isn't simply buying GPUC, buying the cards, and then reselling.

I'll be honest, I've considered doing that since I can pick the cards up from GPUCoin himself.

[orangered]

I like the R9 280X 4~6,so I vote it.

[svenp]

Just a reminder, please upvote to add GPUcoin at CoinedUp:
http://www.reddit.com/r/CoinedUp/

And email Poloniex to have them add GPUcoin also: poloniex@gmail.com.

[silverfern]

Exchange won't matter. Lifeblood is in the flow of the product off the shelves, and the restocking. People need to be using the coin. I realize this discussion is coming from people not having enough coin to make a purchase (at least, some folks), but there are folks who do have plenty of coin and are simply holding.

To be honest if you look at the price in the store and upvert it to USD, it's a good deal on many cards. I'm surprised someone isn't simply buying GPUC, buying the cards, and then reselling.

I'll be honest, I've considered doing that since I can pick the cards up from GPUCoin himself.

I agree with you, people need to use the coin. We need to expand past just selling GPU's though. As I stated on an earlier post, GPU prices are starting to decrease, the market isn't as strong as it was a few months ago. By selling gift cards cheaper etc we can create a demand to a whole new different population, not just those who are seeking GPUs. That's where the GPUcoin supporters can come in and use their connections and see what they can bring to the market.

I think the marketplace is great, but it needs to be expanded.

Everyone's ideas are awesome, I sense that people that are still left in this forum and thread want this coin to succeed.

[sha0908]

I just got an email.

Your card has been shipped and should arrive around Monday

The need for such a long time?
Don't you worry?

[Psynthax]

Yeah, but you need to understand that GPU price drive was due to supply when miners were buying new GPUs.. now they do not need GPUs anymore, hopefully when the next generation cards come out that are more efficient, then this coin will gain traction... BUT only if miners can get prices cheaper then anywhere else..

[svenp]

The marketplace does need to be expanded/improved a lot.  The potential for trade in used equipment is HUGE.  Could be much bigger than new card sales in the coming months and create a lot of additional demand for GPUC.  Think Ebay, minus the fee rape.

This would also keep GPUC denominated sales active even during down market times when miners are selling used equipment instead of new cards.

[wacko]

Can anyone explain the way "market" works (at gpucoinstore.com)? If I want to buy something from there, is there any protection at all? If I pay in gpuc to the seller and he just disappears after receiving the coins, that's that — money just lost?

[hendr1x]

The marketplace does need to be expanded/improved a lot.  The potential for trade in used equipment is HUGE.  Could be much bigger than new card sales in the coming months and create a lot of additional demand for GPUC.  Think Ebay, minus the fee rape.

This would also keep GPUC denominated sales active even during down market times when miners are selling used equipment instead of new cards.

Well I'm definitely willing to work to improve it.  The current setup has some unique ability (validations / escrows / seller ratings etc.) which I hope will get people interested / provide better security.  I used dogemarket a fair amount and got scammed a few times.

The escrow system (http://www.gpucoinescrow.com) is linked to the market (though you can use it stand-alone without any account) to prevent scams...but not all types...you always have to be careful.

[madbit1000]

Exchange won't matter. Lifeblood is in the flow of the product off the shelves, and the restocking. People need to be using the coin. I realize this discussion is coming from people not having enough coin to make a purchase (at least, some folks), but there are folks who do have plenty of coin and are simply holding.

To be honest if you look at the price in the store and upvert it to USD, it's a good deal on many cards. I'm surprised someone isn't simply buying GPUC, buying the cards, and then reselling.

I'll be honest, I've considered doing that since I can pick the cards up from GPUCoin himself.

I agree with you, people need to use the coin. We need to expand past just selling GPU's though. As I stated on an earlier post, GPU prices are starting to decrease, the market isn't as strong as it was a few months ago. By selling gift cards cheaper etc we can create a demand to a whole new different population, not just those who are seeking GPUs. That's where the GPUcoin supporters can come in and use their connections and see what they can bring to the market.

I think the marketplace is great, but it needs to be expanded.

Everyone's ideas are awesome, I sense that people that are still left in this forum and thread want this coin to succeed.

Don't worry, we are all still looking in from time to time and doing our bit on votes etc..

[reesev]

have you guys thought about hiring some people for PR and pay them with some of your GPU that you have collected?  this coin needs a serious PR push.

Also i know alot of you are saying we need to be listed over at mintpal.  If we can come up with 8 btc as a community we can purchase our spot on mintpal.

[NickPortland]

have you guys thought about hiring some people for PR and pay them with some of your GPU that you have collected?  this coin needs a serious PR push.

Also i know alot of you are saying we need to be listed over at mintpal.  If we can come up with 8 btc as a community we can purchase our spot on mintpal.

Only kids at McDonalds raised by crack heads would say such a thing!

Lol, this guy.

[reesev]

have you guys thought about hiring some people for PR and pay them with some of your GPU that you have collected?  this coin needs a serious PR push.

Also i know alot of you are saying we need to be listed over at mintpal.  If we can come up with 8 btc as a community we can purchase our spot on mintpal.

Only kids at McDonalds raised by crack heads would say such a thing!

Lol, this guy.

Wasnt it you a few post back singing about the lack of PR.. could we be brothers? ohhhnoes


Lol, this guy.

[Saopaulo101]

As much as I love the idea of this coin, it is unfeasible to mine at the moment:

1x r9280x = 6,185,292 GPUcoin ?

I managed to mine 750,000 in 2 weeks with 3x R9 280x, which run at around 1000 W combined, this would average at around £120/mth in power.An R9280x retails In the UK for £240. Hence, I would need to be able to mine 6,185,292  in 2 months to break even, but would only be able to manage half that .

it would take me around 4 months, if difficulty remains low, to buy 1 r9 280x, but would cost me £480 in power.

This may be why people are jumping ship.