[GPUC] GPU Coin | Mandatory Wallet Update

[armaan56]

never trust IPO

Is there something about the IPO that you feel uneasy about?  Do you have any questions regarding the business plan or long term viability?

Take a look at the stackcoin fiasco

[GPU Coin]

never trust IPO

Is there something about the IPO that you feel uneasy about?  Do you have any questions regarding the business plan or long term viability?

Take a look at the stackcoin fiasco

I did.  They offered an IPO for a coin and gave no explanation or reasoning other than wanting to line their own pockets with BTC prior to launch, and wanted to remain completely anonymous during the whole process.  People bought in thinking they would make money, which I personally did with Reddcoin, and it just happens that Stack released some virus from an unknown Dev.

Please feel free to take a look at this post, it's too long and will clutter this thread.

My Opinion : I'm not going to invest in stackcoin, because i believe IPO's are for real 2nd generation coins. I talked to the devs on IRC and messaged them and there was no lack of hesitation or time between messages. Very firm and solid response time. If this is coin is to be a success then they are on the right track. But i'd like to note, REDDCOIN did the same sort of IPO and yet it hasn't taken off as expected. Anyways time will tell, the coin has my support for now.

Our developer (Hazard) is a well respected part of the crypto community and runs cryptolife.net which just loves to point out scams, not to mention we have outlaid in our opening post exactly what the IPO money is going into and how it will turn a profit.  The best part is, the face/name/business license of the CEO is public domain.  There is complete transparency.

So, we would ask that you not clutter up this thread with references to any number of scam coins, and if you have a legitimate question about GPU Coin please feel free to ask.

[zhijinwang]

Another STK
 

[unhooked]

So what if you don't collect enough BTC to buy the hardware to resell?

[GPU Coin]

So what if you don't collect enough BTC to buy the hardware to resell?

We already have enough to make an order, but we would only be able to order a very small amount.  From the poll it looks as though there is a huge demand for our service, and we would hate to only be able to supply a hand full of GPUs and sell out the hour the stock is updated.  The preference is to have a decently high IPO so we can have 100 on hand at all times so there is never a shortage, like on most on-line retailers.

[GPU Coin]

im currently talking to my lawyer about investing in coin IPOs.

recently the state of CA declared that Bitcoin is a legal form of currency. Now for any Californians who paid into the stackcoin IPO may be able to file suit against the coins developer and associates.

since this is all new my lawyer is looking into it this week.

basically what he and i have figured is there may be grounds for embezzlement, grand theft, theft, and possible other laws to have affect.

as for GPU coin.  they seem pretty solid.  they may just be doing what other coins will have to do from now on (establishing it as a business)

i wish GPU coin luck.  i will be there for launch.

Making the crypto industry a more legitimate form of business will only push us towards a better future.

[chickenliver503]

im am super pumped for this coin, i am sick of paying 80 extra for a gpu, i brought a 270x a month ago off newegg for 200 dollars and now they are 280..

[paul09]

I was amazed with this idea till I saw the actual prices I can get these cards for, did anyone else do a quick google search on prices of these

http://www.pccasegear.com/index.php?main_page=product_info&products_id=25734&cPath=877&utm_source=googlebase&utm_medium=cse&utm_campaign=export_feed&gclid=CJ-Wxved4LwCFUNfpQodqhEAgA#googlebase

http://www.pccasegear.com/index.php?main_page=product_info&products_id=26611&cPath=877&utm_source=googlebase&utm_medium=cse&utm_campaign=export_feed&gclid=CNudy_ed4LwCFURFpQodDUwAgQ#googlebase

Did you perhaps see that the site you just posted was Australian?  They don't even offer international shipping.  The American market is in a much different state of affairs; there are major back orders every where and the prices are overly inflated.

Yes unfortunately it appears this coins GPU buying purpose will be useless for Aussies, I actually live near PC case gear and have been buying R9 280x from them for $380-400AUD($340-360USD) depending what model I choose.

I might still mine it though because it's definitely a great concept, I'd just sell coins on exchange rather than buy GPU with them.

[unhooked]

So what would stop an IPO investor from dumping the coins as soon as it goes on an exchange?

[GPU Coin]

So what would stop an IPO investor from dumping the coins as soon as it goes on an exchange?

While we could put in place a system such as Reddcoin, giving investors 1.3% of their coins per day, the reality of it is this is a free market.  From past experiences it is a good thing for big investors to dump when the coin is new so that smaller investors and user can buy into the market, at a cheaper price, without the worry of having their new found coin getting dumped on in the future.  Unlike Reddcoin we are not giving favor to the higher IPO investors with a silly algorithm, everyone is getting exactly the percentage of the total invested.  The more IPO total investment diversity, the more divided the market is, which leads to a less likely hood of "whales".  We believe it is not our place to withhold what is rightfully yours.

[dmzj4812]

Hello, today in 10 hours ago, I sent to address your IPO 0.3 bitcoins, why hasn't my number in the donation of IPO your list, my number is 044, please explain, thank you!

[uhfska]

IPO = INTO POCKETS OF OPERATOR.
Do not give anyone bitcoins for IPOs. Look at what happened with stackcoin.
You will lose your money... just give it to me instead if youre going to throw it away

[trademark]

Hello, today in 10 hours ago, I sent to address your IPO 0.3 bitcoins, why hasn't my number in the donation of IPO your list, my number is 044, please explain, thank you!

Give him some time. It's probably done manually.

[uhfska]

I have some doubt that you will be able to get the supply you request. I have been in contact with almost every single online computer retailer since before Christmas. Demand is high/supply is low... everything was on backorder I had to prepay for 4-280xs. 2 came in 1.5 months and the other in 2 months. Luckily I did because now prices are 25% higher. Not counting you out but it's hard to see how you will convince wholesalers to do business with you over the likes or NCIX and Tigerdirect. Unless of course demand deminishes.
Nonetheless I wish you luck... I will support the coin by mining, I am still weiry about IPOs. Hope your plan works out for a discount GPU source, the market is competitive good luck

[uhfska]

So what if you don't collect enough BTC to buy the hardware to resell?

We already have enough to make an order, but we would only be able to order a very small amount.  From the poll it looks as though there is a huge demand for our service, and we would hate to only be able to supply a hand full of GPUs and sell out the hour the stock is updated.  The preference is to have a decently high IPO so we can have 100 on hand at all times so there is never a shortage, like on most on-line retailers.

Can you include a link which shows an example of "...never a shortage, like on most on-line retailers." . Most on-line retailers have an on going shortage from my understanding.

[ymer]

this should be called LOLcoin 

[trademark]

I have some doubt that you will be able to get the supply you request. I have been in contact with almost every single online computer retailer since before Christmas. Demand is high/supply is low... everything was on backorder I had to prepay for 4-280xs. 2 came in 1.5 months and the other in 2 months. Luckily I did because now prices are 25% higher. Not counting you out but it's hard to see how you will convince wholesalers to do business with you over the likes or NCIX and Tigerdirect. Unless of course demand deminishes.
Nonetheless I wish you luck... I will support the coin by mining, I am still weiry about IPOs. Hope your plan works out for a discount GPU source, the market is competitive good luck

You have some good points.  I am still thinking about the IPO.  My concern is, if the store does not open within 2 weeks after launch due to backorders or whatever, the price of the coin could tank. It would be best if the dev had the GPU's in hand before the launch.  

[uhfska]

I have some doubt that you will be able to get the supply you request. I have been in contact with almost every single online computer retailer since before Christmas. Demand is high/supply is low... everything was on backorder I had to prepay for 4-280xs. 2 came in 1.5 months and the other in 2 months. Luckily I did because now prices are 25% higher. Not counting you out but it's hard to see how you will convince wholesalers to do business with you over the likes or NCIX and Tigerdirect. Unless of course demand deminishes.
Nonetheless I wish you luck... I will support the coin by mining, I am still weiry about IPOs. Hope your plan works out for a discount GPU source, the market is competitive good luck

You have some good points.  I am still thinking about the IPO.  My concern is, if the store does not launch within 2 weeks due to backorders or whatever. This price of the coin could tank. It would be best if the dev had the GPU's in hand before the launch. 

Agreed Im not a business operator but from my understanding you should have some capital to put up before you can put your hand out for public offerings. Otherwise its just begging. I cant see how they would be able to get better prices than current online retailers. Especially when  companies like tigerdirect/ncix/newegg have millions to throw around and they cant keep up with orders.

[trademark]

this should be called LOLcoin 

Why? I think this coin could be great, the only difficulty is picking up the hardware. Also, isn't there an lolcoin already?

[unhooked]

So do you have a payment processor being developed as part of the payment system?

Also how is the price in GPUCoin going to be determined?