[GPUC] GPU Coin | Mandatory Wallet Update

[svenp]

I've proposed a solution, similar to what you suggest, reduce subsidy at a certain point and hard fork..

But as I've said, i can implement anything, but it requires an executive decision from the CEO and owners of GPUCoin LLC.  Without that I cannot make these kids of economic changes.

Ok, this is (probably) crazy.... but... what if the currency was re-issued at 1/100th the volume of this one (200 subsidy, 135M maxcoins, etc)?  Is there some way current GPUC holders could convert to the new currency?  I know that's a bit drastic and perhaps impossible practically but something has to be done and cutting the subsidy isn't going to be enough IMHO unless someone supports the price during the transition.

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[PCJargon]

I've proposed a solution, similar to what you suggest, reduce subsidy at a certain point and hard fork..

But as I've said, i can implement anything, but it requires an executive decision from the CEO and owners of GPUCoin LLC.  Without that I cannot make these kids of economic changes.

Ok, this is (probably) crazy.... but... what if the currency was re-issued at 1/100th the volume of this one (200 subsidy, 135M maxcoins, etc)?  Is there some way current GPUC holders could convert to the new currency?  I know that's a bit drastic and perhaps impossible practically but something has to be done and cutting the subsidy isn't going to be enough IMHO unless someone supports the price during the transition.

Um, hard fork doesn't mean re-issuing the currency, i just means changing the way it's mined. Any coins already generated would still be part of the same chain.

EDIT: And doing what you're suggesting, re-issuing the currency and allowing current holders to trade in to the new one completely from ground up means that the old network would die, would be forked, and someone could easily falsify millions of GPUC.

[illiki23]

I've proposed a solution, similar to what you suggest, reduce subsidy at a certain point and hard fork..

But as I've said, i can implement anything, but it requires an executive decision from the CEO and owners of GPUCoin LLC.  Without that I cannot make these kids of economic changes.

Ok, this is (probably) crazy.... but... what if the currency was re-issued at 1/100th the volume of this one (200 subsidy, 135M maxcoins, etc)?  Is there some way current GPUC holders could convert to the new currency?  I know that's a bit drastic and perhaps impossible practically but something has to be done and cutting the subsidy isn't going to be enough IMHO unless someone supports the price during the transition.

Well, part of the problem is that because coins are being produced too fast the price is lower than was originally expected and because of this investors are losing a lot of money.  Converting to a new volume would not remedy that if investors have to convert their coins over as well.  

The best solution will be one that ensures the investors can make money.

[vesperwillow]

Why do you guys think changing the output will fix anything? Whether it takes 1 GPUC or 1,000,000 GPUC to buy a pencil off of Amazon, it's still going to fluctuate. As was stated by someone else, the problem is the lack of usage of the business system. It's not a coin or mining or exchange problem.

Folks don't seem to be willing to "buy" GPUC in order to buy the cards. If they were, the market would right itself. What's the trade volume? Look at that, it'll tell you the story.

Also this: Mining GPUC to get a GPUC.. GPUC value goes down with BTC value.. this raises the electrical cost by a factor of 2.. so fewer people are interested in simply mining to get GPU's.

If more non miners bought GPUC through some method, and then purchased at the GPUC store, then you'd see a nice surge. Which goes back to.. the business frontend needing volume.

[Anonz]

I casted my vote, thanks GPU Coin dev team

[illiki23]

Why do you guys think changing the output will fix anything? Whether it takes 1 GPUC or 1,000,000 GPUC to buy a pencil off of Amazon, it's still going to fluctuate. As was stated by someone else, the problem is the lack of usage of the business system. It's not a coin or mining or exchange problem.

Folks don't seem to be willing to "buy" GPUC in order to buy the cards. If they were, the market would right itself. What's the trade volume? Look at that, it'll tell you the story.

Also this: Mining GPUC to get a GPUC.. GPUC value goes down with BTC value.. this raises the electrical cost by a factor of 2.. so fewer people are interested in simply mining to get GPU's.

If more non miners bought GPUC through some method, and then purchased at the GPUC store, then you'd see a nice surge. Which goes back to.. the business frontend needing volume.

We could definitely see a number of changes to their storefront to make their business more sucessful.  There are some critical errors they have not fixed yet.

For example most people will not be able to use the store as they do not know where to obtain GPUCoin.  There is still not a single link on the entire store website that links to a page with general information about how people get GPUCoins.  People are going to pay a little more just because of how inconvenient the entire process is.  Search engines are not too helpful either.

[illiki23]

GPUCoin, This is the last time I am going to ask.

I think the investors deserve to know:

How much money from selling the first batch of GPUs is going to be used to purchase more GPUs?

That is, what percentage of profits will be going to the pockets of the owners? 

As investors, I think we have a right to know more about the business model used for the store including their strategy for growth, we also have a right to know how much the owner is making off of this venture.

[vesperwillow]

For example most people will not be able to use the store as they do not know where to obtain GPUCoin.  There is still not a single link on the entire store website that links to a page with general information about how people get GPUCoins.  People are going to pay a little more just because of how inconvenient the entire process is.  Search engines are not too helpful either.

I absolutely agree, that should've been there from day 1.

I think the investors deserve to know:

How much money from selling the first batch of GPUs is going to be used to purchase more GPUs?

That is, what percentage of profits will be going to the pockets of the owners? 

As investors, I think we have a right to know more about the business model used for the store including their strategy for growth, we also have a right to know how much the owner is making off of this venture.

FWIW, you're not investors, you're early-buyers. Not to like slap you in the face or anything, but that's just the case. You're an investor if you're getting dividends and returns directly from the company, which you're not. You gave them money to have early access to bulk coin.

Your 'investment' is in the value of the coin.

[jimlite]

1)Make fork with less coins/block.  Will not save the coin long term, but will alleviate the 6 satoshi and getting lower issue. CEO and IPO or buyers will be happy that their coins are now worth more.
2)Get a team and MARKET THE HELL out of this coin. It needs to be the next viral coin, PERIOD. Like DOGE or Aurora.
3)Use any IPO money left to buy a wide variety of cards and equipment so the store has more items and more volume.  Put links on the store to buy GPU coin.  Sell at CEO's cost until things improve with the coin, then slowly raise prices.
4)I love this coin, don't let it die like every other scam coin. I buy it, I mine it (and I love that it is not scrypt, my cards are all fine and I don't worry about Asics), but even I am losing faith until I see the marketing team post what their plan is here?  MARKETING TEAM, HELLO??? ANYONE HOME? PLEASE POST WHAT YOU ARE DOING TO PROMOTE THE COIN.
I think CEO had a lot to do, and did it well. After all he got this whole thing rolling.  But now it is up to him to make the marketing people do their jobs and his coin experts to do their jobs and get this coin going up in value rather than down.  

[hendr1x]

I'm really sorry for any confusion with the contest on the forum. [http://www.gpucoinforum.com/viewtopic.php?f=8&t=2734] I created the thread to simply save the idea some one told me.  It was not officially sanctioned nor was it really meant to be a contest to begin with.  Regardless, I wanted people to have fun so I offered a r7 card and a runner up prize.  The prizes are coming from my personal wallet.  I sincerely hope I didn't disappoint anyone.

[lemfuture]

I'm really sorry for any confusion with the contest on the forum. [http://www.gpucoinforum.com/viewtopic.php?f=8&t=2734] I created the thread to simply save the idea some one told me.  It was not officially sanctioned nor was it really meant to be a contest to begin with.  Regardless, I wanted people to have fun so I offered a r7 card and a runner up prize.  The prizes are coming from my personal wallet.  I sincerely hope I didn't disappoint anyone.

whoa expensive fun. thanks for clarifying

[kkangjji22]

I've proposed a solution, similar to what you suggest, reduce subsidy at a certain point and hard fork..

But as I've said, i can implement anything, but it requires an executive decision from the CEO and owners of GPUCoin LLC.  Without that I cannot make these kids of economic changes.

Ok, this is (probably) crazy.... but... what if the currency was re-issued at 1/100th the volume of this one (200 subsidy, 135M maxcoins, etc)?  Is there some way current GPUC holders could convert to the new currency?  I know that's a bit drastic and perhaps impossible practically but something has to be done and cutting the subsidy isn't going to be enough IMHO unless someone supports the price during the transition.

Well, part of the problem is that because coins are being produced too fast the price is lower than was originally expected and because of this investors are losing a lot of money.  Converting to a new volume would not remedy that if investors have to convert their coins over as well.  

The best solution will be one that ensures the investors can make money.

Thank you for the time analysis
Bottom price for the miners have also lost interest
I believe not many miners to hold a large amount of coin to the long-term point of view to consider
When they cannot see the hope is to be without interest

[amdfxman1701]

What the dev should do is invest in gridseed/scrypt miners and sell those with gpu coins as well. Yes, it would be an oxymoron, but mining is mining and scrypt miners are getting to be very popular. At this point I'd rather use my coins on a scrypt miner than on another video card.

[kkangjji22]

Its a good idea as all the other coins are falling in price, it will attract the attention of more people who will see the prices rise. But i would have waited or coincide the launch on mintpal with the offer, unless this is planned.

But how to attract attention to it?
We need to vigorously promote Is it right?
We always enjoy it
 

[blade87]

GPUC would have done much better a few months ago. We're just at a time where profits are so low that nobody is really interested in building or even expanding their mining rigs. Some have hit the point where they even need to shut off their rigs due to electricity cost. It's a good idea, just bad timing with the market.

[vesperwillow]

1)Make fork with less coins/block.  Will not save the coin long term, but will alleviate the 6 satoshi and getting lower issue. CEO and IPO or buyers will be happy that their coins are now worth more.

I've watched a handful of coins recently do this exact same thing for the same thought process. All but 1 have completely tanked, and that last one is basically on life support with just a couple of machines mining it. Value dropped by a factor of 4 in most cases. Why? Because it wasn't the block value, it was the lack of tangible value and use.

2)Get a team and MARKET THE HELL out of this coin. It needs to be the next viral coin, PERIOD. Like DOGE or Aurora.

This.. times a million. I have nothing to do with the coin and I recognize this as one of the major faults.

GPUC would have done much better a few months ago. We're just at a time where profits are so low that nobody is really interested in building or even expanding their mining rigs. Some have hit the point where they even need to shut off their rigs due to electricity cost. It's a good idea, just bad timing with the market.

GPUC would be #1 right now if they'd stayed Scrypt like I told them to, so folks WITH asic systems would be mining it at a much lower cost, meaning the GPUC would be worth more due to less overhead.


Buuuuuuuuut.. well, the handful of us folks who voted against ScryptN were laughed at. I guess we were wrong

[svenp]

GPUC would have done much better a few months ago. We're just at a time where profits are so low that nobody is really interested in building or even expanding their mining rigs. Some have hit the point where they even need to shut off their rigs due to electricity cost. It's a good idea, just bad timing with the market.

The market in used mining equipment is still huge.  Trade in used cards persists(increases) even during downturns.  As someone else mentioned there are scrypt-asics that can be sold as well.  Lots of possibilities.  

GPUC would be #1 right now if they'd stayed Scrypt like I told them to, so folks WITH asic systems would be mining it at a much lower cost, meaning the GPUC would be worth more due to less overhead.

What's happening has *nothing* to do with the hash algo.

[PCJargon]

I'm still mining GPUC because investment, support, and daily mining profits aren't worth it to me enough to worry about (yay new high paying job ).

We're not completely dead in the water, still top 100ish on coinmarketcap, and there's plenty of coins below us still being mined...

GPUs are still going to be purchased, even just for gaming. If there could be a way for non mining persons (PC Gamers) to buy GPUC and go through the store, it would be real helpful. Perhaps a service where someone requests the purchase and the coin is auto purchased from exchange and provided to them with a temporarily wallet, at a fee a couple percent greater than the exchange and transfer costs. The viability of this would still depend on much greater marketing and public awareness.

[reesev]

I'm really sorry for any confusion with the contest on the forum. [http://www.gpucoinforum.com/viewtopic.php?f=8&t=2734] I created the thread to simply save the idea some one told me.  It was not officially sanctioned nor was it really meant to be a contest to begin with.  Regardless, I wanted people to have fun so I offered a r7 card and a runner up prize.  The prizes are coming from my personal wallet.  I sincerely hope I didn't disappoint anyone.

If you want u can send me the coins instead of the card.  I have no use for the card!


Hendrix you really have done a great job at the site btw.

[pastet89]

1)Make fork with less coins/block.  Will not save the coin long term, but will alleviate the 6 satoshi and getting lower issue. CEO and IPO or buyers will be happy that their coins are now worth more.
2)Get a team and MARKET THE HELL out of this coin. It needs to be the next viral coin, PERIOD. Like DOGE or Aurora.
3)Use any IPO money left to buy a wide variety of cards and equipment so the store has more items and more volume.  Put links on the store to buy GPU coin.  Sell at CEO's cost until things improve with the coin, then slowly raise prices.
4)I love this coin, don't let it die like every other scam coin. I buy it, I mine it (and I love that it is not scrypt, my cards are all fine and I don't worry about Asics), but even I am losing faith until I see the marketing team post what their plan is here?  MARKETING TEAM, HELLO??? ANYONE HOME? PLEASE POST WHAT YOU ARE DOING TO PROMOTE THE COIN.
I think CEO had a lot to do, and did it well. After all he got this whole thing rolling.  But now it is up to him to make the marketing people do their jobs and his coin experts to do their jobs and get this coin going up in value rather than down.  

Me as being part of the marketing team have done so far the following:

1. Organised contest for promotional iconograpchis.
2. Organised a contest for sigantures where 4 videocards can be won for promotion of the coin troughoutt the forum which you can join and also help the marketing. (Please, check my signature).
3. Sent 120 PMs to folks who have posted in the past in this thread to announce them for the Friday discount sale and the siganture contest from point 2.
4. Posted the info from post 3 in few threads on Bitcointalk, Litecointalk and Cryptocointalk.
5. Contacted social media department (Fujikura) and asked him to share all that info on the social media as well.
6. Talked with CEO about another incoming campaign with a 280X to be won.
7. Talked with CEO about a promotional video which is going to start filming around 10th ot April.
8. Contacted today around 7-8 websites for cryptocurrencies news and articles telling them about GPUcoin and suggesting that they write an article about us or take and interview with the CEO, currently no reply from any of them.

Any further ideas are welcome.

My personal impression is that I agree with vesperwillow, the coin is OK, however, the problem is the time in which the boom in demand for GPUs is dying. Someone threw the idea about buying GridSeed ASICs and selling them. May sounds crazy but is a B plan. We need to sell a product with high demand for it in order to keep the demand to the coin alive.