[GPUC] GPU Coin | Mandatory Wallet Update

[waldistons]

Any tutorials on solo mining? With such low diff, I decided to waste some electricity... I'm not sure I'm mining, because my wallet shows ~27 Mhash/sec network hashrate, but I have ~10 spare Mhash/sec. I though if everything is correct, I should get a block every couple of minutes... But nothing so far almost for hour.

Also, when is my linux wallet bounty going to arrive? Who's responsible for this part?

[1715001591]

1715001591

[vesperwillow]

yeah,  I pointed this out a few days ago but people just thought I was trolling or something.

The number of GPUs put up by the store for sale only accounts for around half of the funds.  Where did the rest of the IPO money go?

Well it was pointed out by some others that this PO was for someone else, not the store. If that helps any.

27MH netrate? Wow.

[c275]

love this coin! 

[cindereynolds]

Any tutorials on solo mining? With such low diff, I decided to waste some electricity... I'm not sure I'm mining, because my wallet shows ~27 Mhash/sec network hashrate, but I have ~10 spare Mhash/sec. I though if everything is correct, I should get a block every couple of minutes... But nothing so far almost for hour.

Also, when is my linux wallet bounty going to arrive? Who's responsible for this part?

There is a wallet miner? if so how do you use it?

[sonysasankan]

Fuck.... nobody want to buy this even for one sat!! I think LTC pairing will make it down to 1 LTC as well

[jimlite]

Fuck.... nobody want to buy this even for one sat!! I think LTC pairing will make it down to 1 LTC as well

Nobody will buy shit till Jaymes gives a shit and re-appears.

[HowDoge]

lol dunno bout you guys but ive been easily selling at 3-4 satosi. if everyone held the price would rise.anyone thinking any coin is a simple get rich quick scheme is highly misguided

[huhliki.k]

Is there any news about Jaymes Reilly?

[takiyon]

Is there any news about Jaymes Reilly?

He died from bullet wounds in a shootout with his family.

[vesperwillow]

I saw him driving around town in a new BMW 6 series, he's alive.




Naw JK, I have no idea. Last we heard he was dealing with family issues. Some GPUC customers reported they received their cards, but others who ordered 10 days ago have said they haven't. Would be nice to hear updates from them.

[wacko]

Naw JK, I have no idea. Last we heard he was dealing with family issues. Some GPUC customers reported they received their cards, but others who ordered 10 days ago have said they haven't. Would be nice to hear updates from them.

Still haven't received the card, still no answer from the store.

[vesperwillow]

Naw JK, I have no idea. Last we heard he was dealing with family issues. Some GPUC customers reported they received their cards, but others who ordered 10 days ago have said they haven't. Would be nice to hear updates from them.

Still haven't received the card, still no answer from the store.

Thanks for filling us in. This is horrible news to hear, what card did you buy and for how much GPUC?

[daniel1213]

Interesting coin. Too bad I am new and cannot join.

[wacko]

Thanks for filling us in. This is horrible news to hear, what card did you buy and for how much GPUC?

280x, don't remember the exact price, something around 5-7 mil iirc.

[vesperwillow]

You could contact hendr1x and see if he will pass you Jaymes' phone number, and call him to see what's up.

[sonysasankan]

Elvis has left the building. Fade in Background score. End credits rolling 

[vesperwillow]

While this is purely speculative, it is possible he never intended the business to succeed at all, or more likely, set the business up for him to profit even if it failed. Examine these elements and decide for yourself:

The overall view:

1. Register an LLC, which is 1 sheet of paper sent in the mail, doesn't require insurance or anything professional. This makes it seem safe.
2. Declare you're making a business-based coin
3. The business model: The coin will be used for a high value product
4. Ways to get coin: Buy, Mine or provide BTC for IPO
5. IPO solely for exchange of certain amount of coin, and small overhead (website, etc)
6. Ignore lots of great business advice; explain how you'll make profit regardless of value of coin
7. Emphasize you need more and more BTC for the IPO to stabilize matters
8. Get things running
9. Ship product, people are happy

Seems legit, afterall:

** If business goes well, he makes money, and everyone is happy **

However, if it doesn't go well:

1. If it tanks (due to lack of interest, market shift, BTC drop, or the owner disappearing magically, etc), he still legally owns the stock and the BTC
2. Not liable to provide refunds beyond the IPO phase
3. Can dissolve the LLC and walk away with the 'free' loan of BTC / USD / Equipment

The community is left holding empty bags, essentially through a legal scam. You'd have to prove his intent was nefarious for it to be illegal.

Again, all speculative, but the pieces are there. Nowhere that I can recall did he say he would provide refunds to the IPOs or offer the community the chance to get dirt cheap equipment, in the event he tanks.

What does everyone think?

[kcheel]

I would be more inclined to believe that scenario if I had not gotten my last order (placed on 11th, received on 16th).  I didn't received a order confirmation or shipping confirmation either, so will admit I was little concerned until it showed up.  Hearing there are people who ordered around same time who have not gotten anything though, does make me believe your scenario might be a possibility.

[vesperwillow]

It's actually beneficial for him to keep milking the cow while it slowly dies, IE, sending out products. This keeps diggers away from the truth, and potentially extends the length of the run into another bulk wholesale purchase of equipment. Whether it succeeds, or tanks tomorrow or tanks 3 months from now, he'll make off well.

Unless it tanks at a point where he has no stock, and in fact has absolutely nothing profitable from the venture. Because he's an LLC he's not required to provide any financial documents publically unless subpeaoned to do so in a court.

Glad to hear you got your product. The idea just came to mind when I was thinking about the situation.

[kcheel]

Even if he is not bailing on the business, I agree with you that he has handled it terribly.  His lack of communication here and on the official forums has doomed this coin from the start.  Sucks as I believed it was a good idea and even invested in the IPO.