[GPUC] GPU Coin | Mandatory Wallet Update

[madbit1000]

I have said this many times, i will say again. The wallets need an auto update feature so that people don't get on the wrong fork. Does anyone know who creates the wallets, i will get in touch with them directly and let them know.

[1714628770]

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[1714628770]

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[nauticatom]

Please reduce reward to 100 -

Hi guys..

Important issue: we're going to have to hardfork soon regardless it seems.

1) OpenSSL issue has to be patched
2) KGW timewarp exploit has to be patched (requires hard fork)


RFC #1)

  I can patch this as early as tomorrow, however we need to pick a fork block.  I'm going to propose +2 weeks

  Puts us at block 65563 (roughly 2 weeks from now)...

  The reason for the proposed long lead time.. is it's more important to protect us against a potentially bad fork (ppl who didn't get the new client) rather than really get hit by a KGW timewarp attack.


RFC #2)

  GPUCoin rewards reduction.

  Given that we are going to need to hard fork at block X anyhow.. we can choose to reduce GPUCoin reward.
  
  Throwing this out there, maybe we should reduce reward to 100



Will take comments for 1 day before making changes and releasing new clients.

[vesperwillow]

Lowering the block reward in a market with very low volume .. that's a touchy subject. This puts the onus on "coin not dying" to people buying the market up in price.

[jimlite]

Just make sure new wallet is tested bug and trojan/virus free and put up and ANNOUNCED a week before the fork. People must download it, start using it long before the fork so we KNOW that over 51% of the people are using the new wallet.  Those both sound like good ideas Micyron.  Keep us well posted.

[djm34]

Hi guys..

Important issue: we're going to have to hardfork soon regardless it seems.

1) OpenSSL issue has to be patched
2) KGW timewarp exploit has to be patched (requires hard fork)


RFC #1)

  I can patch this as early as tomorrow, however we need to pick a fork block.  I'm going to propose +2 weeks

  Puts us at block 65563 (roughly 2 weeks from now)...

  The reason for the proposed long lead time.. is it's more important to protect us against a potentially bad fork (ppl who didn't get the new client) rather than really get hit by a KGW timewarp attack.


RFC #2)

  GPUCoin rewards reduction.

  Given that we are going to need to hard fork at block X anyhow.. we can choose to reduce GPUCoin reward.
  
  Throwing this out there, maybe we should reduce reward to 100



Will take comments for 1 day before making changes and releasing new clients.

ok I just bought 150k just in case the reduction to 100 is successful  
But quite frankly, inside coin manipulation might just kill your coin faster...
If the price does not increase significantly fast that will kill the coin as everybody will stop mining it...

edit: and actually it won't work... there are already too many coins on the market (I think I am going to fud right away  )
It would be like making a new coin with a huge premine nobody will buy anything as there are already too many coin to be dumped.

[anonuser777]

...
RFC #2)

  GPUCoin rewards reduction.

  Given that we are going to need to hard fork at block X anyhow.. we can choose to reduce GPUCoin reward.
  
  Throwing this out there, maybe we should reduce reward to 100

Will take comments for 1 day before making changes and releasing new clients.

Don't ponzify your coin. Changing rewards mid-game just screams scam. Messing with rewards will also put off new investors. Stability is required.

[waltsmith]

Yeah, I'm of the opinion that 100 is way to extreme a reduction for a coin that has a billion coins in existence, maybe just bring forward the original reduction halving to 10,000 to a block number two weeks from now and then increase block time to a greater amount like say 2.5 minutes. If you reduce the reward to 100 its the same as saying the coin is now premined by like 30% or whatever, haven't done the math but you get me. That will truly be the death of the coin.

If we could get new graphics in the wallet, a link to the store, a slogan or some such on the overview page, maybe an active API pull for all active exchanges, a new wallet version would let new exchanges be added, no hardfork required.

waltsmith

[SpeedDemon13]

GPU Sale!
On Friday the 4th of April GPU Coin is having a massive sale starting between the hours of 1700~2000 EST and going until stock is sold out.  The rest of the Sapphire Toxic R9 280X cards will be sold for $300 USD equivalant of GPUC at the market value and any person who orders a Sapphire R7 240 card at our already low price of $27 USD equivalant of GPUC will be entered in a drawing for another free R7 240, with a total of 5 winners.  Due to stock limits, we will be limiting purchases to one card per customer.

Contests:
Five Free Graphics Cards
https://bitcointalk.org/index.php?topic=550206.0

Previous Winners:
jimlite: free Sapphire Toxic R9 280X
magalhanze: free Gigabyte R9 270

Goals:
Wholesale GPU Purchases:
We currently have access to distributor prices, but wish to provide further savings to our customers. We are currently applying for wholesale of the following companies: MSI, XFX, Sapphire Tech, ASUS and GIGABYTE. After contacting a few companies we have found the wholesale market to be extremely monopolized, and a few said they would not accept new business accounts. To get access we need to provide the manufacturers proof of a certain amount of monthly sales; so if you stick by us, we'll be able to provide even higher savings directly to you.

When is the drawing for the R7 240? I ordered one and just want to make sure I'm entered.

[lumeire]

Yeah, I'm of the opinion that 100 is way to extreme a reduction for a coin that has a billion coins in existence, maybe just bring forward the original reduction halving to 10,000 to a block number two weeks from now and then increase block time to a greater amount like say 2.5 minutes. If you reduce the reward to 100 its the same as saying the coin is now premined by like 30% or whatever, haven't done the math but you get me. That will truly be the death of the coin.

If we could get new graphics in the wallet, a link to the store, a slogan or some such on the overview page, maybe an active API pull for all active exchanges, a new wallet version would let new exchanges be added, no hardfork required.

waltsmith

True, 100 is way too low. Do that and miners will leave.

[medialx]

yes..don't touch the reward..its like a huge premine if u were to reduce to 100..

[kcheel]

Yeah, I'm of the opinion that 100 is way to extreme a reduction for a coin that has a billion coins in existence, maybe just bring forward the original reduction halving to 10,000 to a block number two weeks from now and then increase block time to a greater amount like say 2.5 minutes. If you reduce the reward to 100 its the same as saying the coin is now premined by like 30% or whatever, haven't done the math but you get me. That will truly be the death of the coin.

If we could get new graphics in the wallet, a link to the store, a slogan or some such on the overview page, maybe an active API pull for all active exchanges, a new wallet version would let new exchanges be added, no hardfork required.

waltsmith

I agree with Walt.  Halving it would be plenty.

On another topic, today I received the R7 240 I ordered last friday, so quick shipping. 

[micryon]

If we could get new graphics in the wallet, a link to the store, a slogan or some such on the overview page, maybe an active API pull for all active exchanges, a new wallet version would let new exchanges be added, no hardfork required.
waltsmith

Yeah those types of changes are just client changes, and would not need a hardfork..

But KGW fix requires it anyways.. so this is an opportunity to make whatever changes we need since we need the KGW fix... which is why I'm suggesting it could be the only/last chance to make any kinds of reward/timing changes.

[micryon]

Yeah, I'm of the opinion that 100 is way to extreme a reduction for a coin that has a billion coins in existence, maybe just bring forward the original reduction halving to 10,000 to a block number two weeks from now and then increase block time to a greater amount like say 2.5 minutes. If you reduce the reward to 100 its the same as saying the coin is now premined by like 30% or whatever, haven't done the math but you get me. That will truly be the death of the coin.

If we could get new graphics in the wallet, a link to the store, a slogan or some such on the overview page, maybe an active API pull for all active exchanges, a new wallet version would let new exchanges be added, no hardfork required.

waltsmith

I agree with Walt.  Halving it would be plenty.

On another topic, today I received the R7 240 I ordered last friday, so quick shipping. 

Ok Jaymes also recommended halving... so RFC would be to update to 10k (basically move halving up a few months)

[Equate]

Yeah, halving is good, but reducing the reward to 100 would kill the coin.

right reward reducing doesn't help to rise the coin.

[jimlite]

Yeah, I'm of the opinion that 100 is way to extreme a reduction for a coin that has a billion coins in existence, maybe just bring forward the original reduction halving to 10,000 to a block number two weeks from now and then increase block time to a greater amount like say 2.5 minutes. If you reduce the reward to 100 its the same as saying the coin is now premined by like 30% or whatever, haven't done the math but you get me. That will truly be the death of the coin.

If we could get new graphics in the wallet, a link to the store, a slogan or some such on the overview page, maybe an active API pull for all active exchanges, a new wallet version would let new exchanges be added, no hardfork required.

waltsmith

True, 100 is way too low. Do that and miners will leave.

AGREE WITH WALTSMITH and have been saying this since DAY 1. I am a miner and 20,000/block must be decreased, but NOT to 100, that is too extreme. I proposed the initial halving to 10,000/block should be done quickly, then halving at a more rapid schedule than planned.  NO need to go right to 100/block, 10,000 is the logical number, first halving, and will not piss miners or others yelling pre-mine off. I will continue to mine at 10,000/block, but not at 100/block. Also, anyone with a lot of coins now would be able to buy GPUs REAL cheap if you went to 100/block, think about it. Yeah, I'll take 100 280x's with my coins before the coin dies, lol. Keep it fair and sane for the longevity of the coin, 10,000/block, with 5,000/block at a reasonable next timeframe for halving.

[huhliki.k]

Кoгдa бyдeт иcпpaвить https://gpucoinstore.com/store/product.php?productID=1 GIGABYTE Radeon R 280x нa Sapphire Radeon R9 280X . Имeннo этa нeтoчнocть oттaлкивaeт пoкyпaтeлeй!

[vesperwillow]

So, devil's advocate here, you lower the reward and cause synthetic inflation of value. What happens a week later when people trade it back down to where it's at now?

Now you're making even fewer coins for the same value, resulting in higher overhead for miners, and longer time to buy a card.

[Counterpartybtc]

that is correct - but plan on a rise in value, im sure people want to be able to get a card without having to buy a ton of GPUc... im tweeting it out shortly.

[vesperwillow]

Hope isn't a plan though. What tangible reason would there be for increased value? I'm basing my viewpoint on several other coins, which did the same thing you guys are proposing, and they're now in the toilets.

The supply of GPUs is there. The supply of GPUC is there. There's no demand to buy GPUC from fiat to get the GPUs (aka, non-gpuc-miners). There is a demand for the gpuc-miners to get the GPUs but they can't because it'll take more to mine than to simply buy with BTC.

Lowering block value hurts the people you're trying to help. It doesn't affect folks who would just buy from fiat.

[illiki23]

Hope isn't a plan though. What tangible reason would there be for increased value? I'm basing my viewpoint on several other coins, which did the same thing you guys are proposing, and they're now in the toilets.

The supply of GPUs is there. The supply of GPUC is there. There's no demand to buy GPUC from fiat to get the GPUs (aka, non-gpuc-miners). There is a demand for the gpuc-miners to get the GPUs but they can't because it'll take more to mine than to simply buy with BTC.

Lowering block value hurts the people you're trying to help. It doesn't affect folks who would just buy from fiat.

I agree.

This coin is not doing well because the business is ran incompetently.  Either that or the owner just does not care about the value of GPUCoin as long as he gets sales.

People have vocally expressed problems that need to be addressed with the business.  These are things that are seriously crippling the business.  The owner does not listen.  Either he is arrogant or just does not care.

For example, despite the community practically unanimously agreeing that the GPUCoin store needed a link to an information page describing how people obtain the coins there remains no page.

Despite the strong vocal expression by the community that they want more updates, there remains very few updates.  It took days after the sale, while people actively expressed concern, for an update to be posted with regards to the restocking of the store.

There remains very little attempt to market the store or the coin.