[GPUC] GPU Coin | Mandatory Wallet Update

[madbit1000]

Facebook IPO investors recently won in court a refund for their IPO investment because Facebook refused to disclose financial information proving they were using the money like they promised they would.

Real IPOs are regulated to protect investors.  Unfortunately GPUCoin held a fake IPO so they think they should not be held accountable to the investors.

I am curious as to the legality of coins these days holding fake IPOs.  IPOs are regulated.  My friend tells me that coin IPOs may be illegal, and we have been arguing about it.

Regardless of legalities, GPUCoin would do a lot better if it was ran by someone more competent in running a business.

I think.. just having more frequent updates would be beneficial, and if more people used the store. GPUC would do really well then.

While I understand your frustrations, hindsight is always 20/20, and if you'd researched Virginia LLC's like many folks did, you'd know it's just a company without investors and can't issues shares or IPO's. Demanding he act like he's a corporation when he's not just because you lacked the competency to research an investment.. is not his fault.

Hey, I am just using the words he used.  I know that legally he cannot hold an IPO,  but since he used the word "IPO" and continues to call us 'investors' I am expecting him to follow the rules set in place that regulate IPOs and protect 'investors'.

This is my opinion, and I do have the right to complain as an 'investor'.

Even if this is not a legal IPO he still has to follow some laws pertaining to the selling of products.  He sold coins us coins based on a number of promises such as spending 100% of the investor's money to purchase a batch of GPUs.  They so far have failed to show this is true.  

Maybe give them some time? For all you know, they already ordered the GPUs and are just waiting for them to arrive.

I think you may find that anyone can offer an IPO(initial public offering), but you may need to be registered as an PLC or corporation in the USA, unless the IPO can be regarded as a Private investment. , they as owners(Directors) can offer shares in their company for exchange of capital. Saying that, the legalities regarding crypto's are vague. Bitcoin is regarded as property and not currency, so you have just given the director some of your property and not cash effectively for exchange of more property on a like for like basis. with a similar value at the time of issue. I myself, would have probably worded the initial sale of coins as a private investment and nothing more.

Anyway, its only property.. And if the coin was doing really well on the exchanges, i doubt any one of you would have a single complaint. Anyway, why didnt you do your research first. As every investment requires some degree of research and carries a risk, a risk that you might not get back your initial investment and could end up losing some or all of your initial investment.


Now, none of us want that! Give them time, lets see if they have anything to offer to the development of GPUC.. I would have never gone with LLC myself, but it was not mine or our choice to make. A plc has so many complications for tax purposes. I would have chosen a LTD instead personally.

Think it may be different in the USA as these rules apply for UK residents. I just read that the LLC is the most flexible it seems, maybe equivalent to the LTD standard from the UK. In fact, the LLC maybe a perfect solution. As there is less paperwork compared to UK similar version. that requires all taxes to be reportable to company house and also HMRC. Looks like LLC sits in between sole trader(UK) and LTD company structures.


I am currently going through an investment i purchased some years ago, and waiting on the company to offer shares. As i own private equity in a company in Sweden. Who have just recently become a PLC and will be offering us our shares to trade on the stock market, hopefully before the end of this month. So i have had quite a bit of experience with shares/stock as a private investor.

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[vesperwillow]

Hey, I am just using the words he used.  I know that legally he cannot hold an IPO,  but since he used the word "IPO" and continues to call us 'investors' I am expecting him to follow the rules set in place that regulate IPOs and protect 'investors'.

I suppose you can expect him to do that, and you'll continue to be disappointed. How often have you invested in actual business ventures? You don't usually get financial protection.

Even if this is not a legal IPO he still has to follow some laws pertaining to the selling of products.  He sold coins us coins based on a number of promises such as spending 100% of the investor's money to purchase a batch of GPUs.  They so far have failed to show this is true.  

As was pointed out like 200 pages ago, he has fulfilled his obligation to the IPO buyers. They provided BTC for a % of GPUC, and the trade was complete. Beyond that, he has no obligation to anyone. A VA LLC is more empowering to the owner for protection, than the customers. All he has to do is pay his taxes. Unless he fails to provide a GPU when purched with GPUC, he hasn't broken a law. He hasn't skirted laws either, nor does he have to disclose where every penny is going because it's his company, not yours.

He could literally print paper GPUC wallets and use them to wipe his ass, and he would be within his legal right to do so, provided he still shipped the GPUs.

[Kitaj]

New pool at 1% fee

http://gpu.crypto-coinpool.net/

Donation go to Charity

[Ambros]

So we can declare this coin death ?? 1 mining month wasted

[madbit1000]

So we can declare this coin death ?? 1 mining month wasted

Well hopefully, the CEO has something up his sleeve.

[waltsmith]

So we can declare this coin death ?? 1 mining month wasted

Well hopefully, the CEO has something up his sleeve.

Not only that, this coin is the same as any other if you take away the store, are all of them dead?
What is up with all of the gloom and doom talk? It's like everyone is upset that they can't stop going to work because they are running a couple 7950's at the house or something.

waltsmith

[madbit1000]

So we can declare this coin death ?? 1 mining month wasted

Well hopefully, the CEO has something up his sleeve.

Not only that, this coin is the same as any other if you take away the store, are all of them dead?
What is up with all of the gloom and doom talk? It's like everyone is upset that they can't stop going to work because they are running a couple 7950's at the house or something.

waltsmith

People need to learn to accept that they cant get things overnight. Unfortunately thats life. I am fortunate that i don't have to work with or without the miner, its more of a hobby now. I am always active in seeking my next investments or business ventures, regardless of my financial position. I am planning my coin and working on putting my coin together, but it would be good to see cryptos start to move up the ladder again.. waiting on my alpha technologies Asic miner to be delivered, then i will pump and dump some of my coins to buy GPUcoin. So it doesn't matter to me how long this takes i am still going to be here.. unless things change in the mean time..

[nauticatom]

So we can declare this coin death ?? 1 mining month wasted

Well hopefully, the CEO has something up his sleeve.

Not only that, this coin is the same as any other if you take away the store, are all of them dead?
What is up with all of the gloom and doom talk? It's like everyone is upset that they can't stop going to work because they are running a couple 7950's at the house or something.

waltsmith

walt - it would be nice if he actually posted something....... Even me as strong as I have been supporting it, sitting on IPO 2btc + 10 mil mined, im having a tough time. I used to check this thread and the markets 3-4 times a day.... Now im down to checking it every other day.

[pastet89]

So we can declare this coin death ?? 1 mining month wasted

Why to declare death?
In the hardest time for all alts when even DOGE is falling we are keeping around 6 satoshi and the price is stable for the last days, also the community is growing.

[kcheel]

So we can declare this coin death ?? 1 mining month wasted

Well hopefully, the CEO has something up his sleeve.

Not only that, this coin is the same as any other if you take away the store, are all of them dead?
What is up with all of the gloom and doom talk? It's like everyone is upset that they can't stop going to work because they are running a couple 7950's at the house or something.

waltsmith

lol...gloom and doom is what comes natural for a lot of people unfortunately.  I am sitting on a bunch of GPUC myself, so would love for it to take off but I am a patient guy. 

[hyeoam]

Charts here: http://crypto-prices.com/GPUC

[jollyriffic]

if everyone were to pull their heads out of their asses on https://www.poloniex.com/exchange/btc_gpuc and some other exchanges. all we would have to do is pull the low sales and stick everything at or above 0.00000016
people have been selling as low as 0.00000003
you're losing a lot of money selling that low.

i did have a sell order in at 16 but just canceled it.
buyers want the best deal they can get, but as a seller you should be trying to get the best deal you can also.
if you need money right away, you can always mine something else in conjunction to this coin.
like right now i'm doing EMC2 as its got a great amount of support and sites that take the coin.

i'd also like to suggest people browse around other coins, find special sites that takes those coins and we can compile a list on google docs, then once we've fixed our buy/sells then hit up those sites and get them to start listing gpuc on their sites also.

while i'm feeling a little shaky about this coin also, you need to remember, even btc took a long time to become valuable.
http://en.wikipedia.org/wiki/History_of_Bitcoin#Prices_and_value_history

[kahir]

if everyone were to pull their heads out of their asses on https://www.poloniex.com/exchange/btc_gpuc and some other exchanges. all we would have to do is pull the low sales and stick everything at or above 0.00000016
people have been selling as low as 0.00000003
you're losing a lot of money selling that low.

i did have a sell order in at 16 but just canceled it.
buyers want the best deal they can get, but as a seller you should be trying to get the best deal you can also.
if you need money right away, you can always mine something else in conjunction to this coin.
like right now i'm doing EMC2 as its got a great amount of support and sites that take the coin.

i'd also like to suggest people browse around other coins, find special sites that takes those coins and we can compile a list on google docs, then once we've fixed our buy/sells then hit up those sites and get them to start listing gpuc on their sites also.

while i'm feeling a little shaky about this coin also, you need to remember, even btc took a long time to become valuable.
http://en.wikipedia.org/wiki/History_of_Bitcoin#Prices_and_value_history

people are selling for reasons ...they bored and can't wait longer .... or just want btc to invest in something else ... it happen to all coins not just GPUC

in fact GPUC have alot to face.... not just dumpers .....u got asics ...the N-scrypt being hated and runs hot ..... its also unwise to hold when prices are tanking

[jimlite]

if everyone were to pull their heads out of their asses on https://www.poloniex.com/exchange/btc_gpuc and some other exchanges. all we would have to do is pull the low sales and stick everything at or above 0.00000016
people have been selling as low as 0.00000003
you're losing a lot of money selling that low.

i did have a sell order in at 16 but just canceled it.
buyers want the best deal they can get, but as a seller you should be trying to get the best deal you can also.
if you need money right away, you can always mine something else in conjunction to this coin.
like right now i'm doing EMC2 as its got a great amount of support and sites that take the coin.

i'd also like to suggest people browse around other coins, find special sites that takes those coins and we can compile a list on google docs, then once we've fixed our buy/sells then hit up those sites and get them to start listing gpuc on their sites also.

while i'm feeling a little shaky about this coin also, you need to remember, even btc took a long time to become valuable.
http://en.wikipedia.org/wiki/History_of_Bitcoin#Prices_and_value_history

people are selling for reasons ...they bored and can't wait longer .... or just want btc to invest in something else ... it happen to all coins not just GPUC

in fact GPUC have alot to face.... not just dumpers .....u got asics ...the N-scrypt being hated and runs hot ..... its also unwise to hold when prices are tanking

The whole alt market is down. And obviously you never heard, "Buy when there is blood in the streets".  Now is the best time to buy GPUC, as it probably only can go up.  But you guys are right, CEO should get his act together and start posting AT LEAST on a weekly basis of what the hell is going on with the coin, the team, marketing, etc.

[d4wn0ff473]

if everyone were to pull their heads out of their asses on https://www.poloniex.com/exchange/btc_gpuc and some other exchanges. all we would have to do is pull the low sales and stick everything at or above 0.00000016
people have been selling as low as 0.00000003
you're losing a lot of money selling that low.

i did have a sell order in at 16 but just canceled it.
buyers want the best deal they can get, but as a seller you should be trying to get the best deal you can also.
if you need money right away, you can always mine something else in conjunction to this coin.
like right now i'm doing EMC2 as its got a great amount of support and sites that take the coin.

i'd also like to suggest people browse around other coins, find special sites that takes those coins and we can compile a list on google docs, then once we've fixed our buy/sells then hit up those sites and get them to start listing gpuc on their sites also.

while i'm feeling a little shaky about this coin also, you need to remember, even btc took a long time to become valuable.
http://en.wikipedia.org/wiki/History_of_Bitcoin#Prices_and_value_history

people are selling for reasons ...they bored and can't wait longer .... or just want btc to invest in something else ... it happen to all coins not just GPUC

in fact GPUC have alot to face.... not just dumpers .....u got asics ...the N-scrypt being hated and runs hot ..... its also unwise to hold when prices are tanking

The no clue brigade has shown up. Scrypt-n doesn't run hot. And how exaclty do asics play into a scrypt-n coin as a hurdle it has to overcome? The asics coming out are scrypt asics not scrypt-n asics. Which means when the scrypt asics hit people will be jumping to scrypt-n and other algos as they get their gpu rigs pushed out of scrypt. Hardly a hurdle, if anything it's a boon to other algos.  And there are tons of investors who would disagree with you on that bullshit financial advice. The run when the price is going down bullshit logic is exactly what day traders love in the NYSE. Coin markets are extremely thinly traded and can be manipulated by a single person who has a moderate amount of coin to buy or sell with. Your "reasons" are juvenile, prices fluctuate, if you are too "bored" to deal with it then by all means go buy or mine something else. As you put it, boredom plays a huge role because obviously a month is a long enough time for a business venture and full business plan to pan out to its full potential. Get a clue, investing is something that requires patience. If you don't have any patience maybe you should go play in a btc ponzi and see how that plays out.

[kalashnikovski]

One positive I can gather is that we are having a pretty decent steady climb on the voting on mintpal. Don't stop now, keep voting as much as you can and bring this coin to the top. Let's try get listed either by next monday or if not the monday after. Once we are in a decent range, we can gather some btc and push us to the top.
The current top coin has 10x more BTC invested than us and only roughly 3X the votes, meaning we are a bigger community and we vote more.
Maybe we can orchestrate a combined effort on the sunday/monday and get us on top

[Shintax]

I thought the quantity limit was supposed to be removed a week after the store opens? If Jaymes is waiting for the last of the 240s to go before ordering the next batch, it would be wise to remove the limit.

[vesperwillow]

The death of this project will be due to lack of sales and use. Shame the owner hasn't made an effort to talk more.

[tagged]

This coin is DEAD. If you have any left rush to Bittrex now and sell all you have before its too late!

(and just because I have all the buy orders on there right now does not mean i am giving you bad advice, its just not the advice i am taking, I am buying some cheap ass coins!)

[vesperwillow]

The death of this project will be due to lack of sales and use. Shame the owner hasn't made an effort to talk more.

So impatient. Owner doesn't say anything for a few days and everyone loses their shit and declares the project dead.

Yeah some folks could say that the people on here are impatient.. very true. Could also be the fact the owner does in fact not talk to anyone regularly in his own community. I don't care either way, just noting that it is a shame for people who like this coin.