[GPUC] GPU Coin | Mandatory Wallet Update

[sonysasankan]

_s3v3n_ : yes - relaunch Sunday March 9th - Dev + CEO MIA since last night

sonysasankan : you can't just go around making stuff up because you think it sounds right.

An IPO member thinks he can take legal action for stolen bitcoins. Well that "sounds wrong" to me. Or maybe I could be wrong... but I'm fairly certain bitcoin is not a Govt recognized currency that is backed up by legislation for misuse, theft, etc. You know of any laws that were passed recently by any states that declared bitcoins as an accepted commodity of value that can traded, etc. I'm all ears if you have!

The very nature of decentralization prevents any central authority to be able demand someone to pay up with an "or else..." attached to the sentence. So ya... it definitely "sounds right" when I say legal action is futile...

Virginia has statutes covering losses of commodities and other items which have a dollar value. It could be Pixie Farts, but if it's traded or otherwise has a provable fiat value in the state, it can be covered.

Hence why he has an LLC, to keep his nuts out of the boiler. If it was just an individual it would be a little harder, but with an LLC you just present your evidence and the judge hits the gavel and it's over in 5 minutes.

Hmmmm... interesting. But bitcoin by itself has no intrinsic value and neither is it a service with a fixed or hourly fee. It is not a recognized share of a company that has a stock value at the exchange either. The "Bitcoin Exchanges" out there are pretty much an escrow service that mediates  the agreed upon transaction between two people. If I buy 1 BTC from someone for $700, I do not own a tiny percentage of the company called "Bitcoin" whose worth can be calculated based on their quarterly/annual income. So basically how valuable it is, is decided by me and the other person who is paying for it. It can be anything from $5 to $750. So how is a fiat value determined.

Moreover what is the judge going to declare? Pay back the bitcoin? I don't think there is a bitcoin bank account tied to the LLC that can be frozen.... there has to be cash (or physical goods like siezed graphics cards) in the shop/property for any financial dispute to be resolved right? Am I missing something fundamental here?

[djm34]

_s3v3n_ : yes - relaunch Sunday March 9th - Dev + CEO MIA since last night

sonysasankan : you can't just go around making stuff up because you think it sounds right.

An IPO member thinks he can take legal action for stolen bitcoins. Well that "sounds wrong" to me. Or maybe I could be wrong... but I'm fairly certain bitcoin is not a Govt recognized currency that is backed up by legislation for misuse, theft, etc. You know of any laws that were passed recently by any states that declared bitcoins as an accepted commodity of value that can traded, etc. I'm all ears if you have!

The very nature of decentralization prevents any central authority to be able demand someone to pay up with an "or else..." attached to the sentence. So ya... it definitely "sounds right" when I say legal action is futile...

Virginia has statutes covering losses of commodities and other items which have a dollar value. It could be Pixie Farts, but if it's traded or otherwise has a provable fiat value in the state, it can be covered.

Hence why he has an LLC, to keep his nuts out of the boiler. If it was just an individual it would be a little harder, but with an LLC you just present your evidence and the judge hits the gavel and it's over in 5 minutes.

Hmmmm... interesting. But bitcoin by itself has no intrinsic value and neither is it a service with a fixed or hourly fee. It is not a recognized share of a company that has a stock value at the exchange either. The "Bitcoin Exchanges" out there are pretty much an escrow service that mediates  the agreed upon transaction between two people. If I buy 1 BTC from someone for $700, I do not own a tiny percentage of the company called "Bitcoin" whose worth can be calculated based on their quarterly/annual income. So basically how valuable it is, is decided by me and the other person who is paying for it. It can be anything from $5 to $750. So how is a fiat value determined.

You know what you say works for any goods which are traded...

[smartalxx]

Dude, don't get hung up on this being a currency.  The courts uphold barter agreements all the time.

[guozhuliu]

please add the new pool url= http://gpu.sumpool.com

[OakPools]

please add the new pool url= http://gpu.sumpool.com

Your link is broken mate

[radfuk]

GPU Coin, please read my pm

[M31]

GPU Coin, please read my pm

Mine too... Some peeps around here are ready to snap.

--------------------------------------------------------------

Jules Winnfield: Ahh, what the fuck's happening? Aw shit, man!
Vincent Vega: Aw man, I shot Marvin in the face...
Jules Winnfield: Why the fuck did you do that?
Vincent Vega: Well I didn't mean to do it, it was an accident!
Jules Winnfield: Aww man, I've seen some crazy ass shit in my time but this-
Vincent Vega: Just chill out, man! I told you it was an accident! You probably, you went over a bump or something...

Off to watch Pulp Fiction now.  Great show.

[tstormdoge]

So, what do you want to bet that daylight saving time will fuck up the re-re-relaunch?

[Dabs]

I will admit I was one of those scammed by the original Stack Coin. Then micryon went about and recreated RealStackCoin. And I got my few million RSC.

Whether it ROIs or not is no longer the responsibility of the dev, but at least we got what we paid for.

So that much, I can say. I was watching this, and fortunately for me, I ran out of coins to join this IPO.

For anyone else that decides to attempt a new IPO coin, for whatever purpose, I humbly offer my services as escrow; but only for new coins. I can't do anything about any BTC that never went to me. If another dev decides to reimburse you by making Real GPU Coin, that would be different.

The claim process for that would be a nightmare though. Everyone got a different address.

I was thinking of making something like a DabsCoin ... but ... (and good thing for me) it hasn't happened. Maybe I need a new name for it.

[vesperwillow]

Over a day and no email or contact from the Owner -- again -- as he had yet promised lastnight.

If it's not a scam guys, there's something wrong with the dude. No time to type out a 5 minute email to IPOs or post up in here? Disgraceful to all those who supported this thread and idea.

[Bulldog_Duke]

Just read the last 20 pages since I checked out last night.  I laughed, I cried, I hurled.  Great stuff guys! 

[cryptowest]

Over a day and no email or contact from the Owner -- again -- as he had yet promised lastnight.

If it's not a scam guys, there's something wrong with the dude. No time to type out a 5 minute email to IPOs or post up in here? Disgraceful to all those who supported this thread and idea.

I talked to him today for a few minutes and he said he was typing out some 2-3 page letter.

I tried to help with the project, but the programmer who usually works with me was gone, and I adopted a new guy.

He's brilliant sometimes, can write new encryption algos, program mining software... but his attention to detail in this case seemed to be lacking.

He cost me far far too many wasted hours, and harm on my reputation. Now I can't get a hold of him.

The CEO wants the relaunch sunday, so I guess that's the plan. I'm working with micryon and another dev to get the issues sorted out.


I don't really have much of anything to do with this coin. I heard the original dev disappeared so I offered to help. I got .5 btc for my efforts and I paid the MIA programmer half of it before i realized how screwed up things were. That's my only connection, so please don't flame me about your IPO refunds and such... I have nothing to do with that. I just wanted to take the the time to post here, because I see how stressed out you all are. in my personal opinion its not a scam or anything, and I know he is working on that letter.

I've helped with about 5 coin launches and never had issues like this before. I apologize for everyones wasted time, and I'm pretty frustrated too. The relaunch will be smooth and things will be properly tested, instead of trying to fart everything out within 8 hours.

[phaddie]

Over a day and no email or contact from the Owner -- again -- as he had yet promised lastnight.

If it's not a scam guys, there's something wrong with the dude. No time to type out a 5 minute email to IPOs or post up in here? Disgraceful to all those who supported this thread and idea.

I talked to him today for a few minutes and he said he was typing out some 2-3 page letter.

I tried to help with the project, but the programmer who usually works with me was gone, and I adopted a new guy.

He's brilliant sometimes, can write new encryption algos, program mining software... but his attention to detail in this case seemed to be lacking.

He cost me far far too many wasted hours, and harm on my reputation. Now I can't get a hold of him.

The CEO wants the relaunch sunday, so I guess that's the plan. I'm working with micryon and another dev to get the issues sorted out.


I don't really have much of anything to do with this coin. I heard the original dev disappeared so I offered to help. I got .5 btc for my efforts and I paid the MIA programmer half of it before i realized how screwed up things were. That's my only connection, so please don't flame me about your IPO refunds and such... I have nothing to do with that. I just wanted to take the the time to post here, because I see how stressed out you all are. in my personal opinion its not a scam or anything, and I know he is working on that letter.

I've helped with about 5 coin launches and never had issues like this before. I apologize for everyones wasted time, and I'm pretty frustrated too. The relaunch will be smooth and things will be properly tested, instead of trying to fart everything out within 8 hours.

This is all good news, thanx for the update!!  Hopefully there is time for a mac wallet as well.

[jimlite]

Over a day and no email or contact from the Owner -- again -- as he had yet promised lastnight.

If it's not a scam guys, there's something wrong with the dude. No time to type out a 5 minute email to IPOs or post up in here? Disgraceful to all those who supported this thread and idea.

I talked to him today for a few minutes and he said he was typing out some 2-3 page letter.

I tried to help with the project, but the programmer who usually works with me was gone, and I adopted a new guy.

He's brilliant sometimes, can write new encryption algos, program mining software... but his attention to detail in this case seemed to be lacking.

He cost me far far too many wasted hours, and harm on my reputation. Now I can't get a hold of him.

The CEO wants the relaunch sunday, so I guess that's the plan. I'm working with micryon and another dev to get the issues sorted out.


I don't really have much of anything to do with this coin. I heard the original dev disappeared so I offered to help. I got .5 btc for my efforts and I paid the MIA programmer half of it before i realized how screwed up things were. That's my only connection, so please don't flame me about your IPO refunds and such... I have nothing to do with that. I just wanted to take the the time to post here, because I see how stressed out you all are. in my personal opinion its not a scam or anything, and I know he is working on that letter.

I've helped with about 5 coin launches and never had issues like this before. I apologize for everyones wasted time, and I'm pretty frustrated too. The relaunch will be smooth and things will be properly tested, instead of trying to fart everything out within 8 hours.

This is all good news, thanx for the update!!  Hopefully there is time for a mac wallet as well.

+1 Thanks for the update

[vesperwillow]

I've helped with about 5 coin launches and never had issues like this before. I apologize for everyones wasted time, and I'm pretty frustrated too. The relaunch will be smooth and things will be properly tested, instead of trying to fart everything out within 8 hours.

Thanks for taking the time to share your side of the story.

I have to wonder though, why did this guy rush it instead of listening to many, many voices who said not to.

[GPU Coin]

The e-mail for the IPO investors is coming shortly.  I have finished the rough draft and am currently finalizing.  Refunds can and will be issued, but any one PMing me here will be ignored due to the fact that I can't verify you are who you say.  Please respond to the incoming e-mail via e-mail so I get the BTC back to who it came from if needed.

[fishnick]

ECoinFund launched the beta: login, invitation, trading contest will receive ECC (ECF Coin), the maximum was 160 ECC.

its bitcoinTalk Support Thread

devs, please contact this exhange!

ecoinfund.com

great potential to be chinese counterpart of cryptsy

[M31]

The e-mail for the IPO investors is coming shortly.  I have finished the rough draft and am currently finalizing.  Refunds can and will be issued, but any one PMing me here will be ignored due to the fact that I can't verify you are who you say.  Please respond to the incoming e-mail via e-mail so I get the BTC back to who it came from if needed.

Awesome!  Thanks...

[grbox2001]

Dear IPO investors,

        First of all I share your frustration and concerns, and extend my utmost apologies regarding the failures associated with the initial launch of GPU Coin.  While I have plenty of experience in small business management and logistics, I am still finding that the tech industry, where software is the driving force behind the entire business, is quite different.  I originally found a developer that offered his services to build a bullet proof coin.  After looking over his web site, where he explicitly brought to light scam coins and highlighted other deterring details of other coin launches, I made the decision to hire him.  At that point I began the thread and started soliciting IPO investors to allow for GPU Coin LLC to raise the funding required for stocking the store front.

        After the thread started, I was informed by the community that scrypt coins would soon be outdated once the ASICs started hitting shelves in large quantities.  I have seen only Gridseeds that are expensive and put out small amounts of hash, albeit at a much lower wattage.  At this point I took a poll and asked the IPO investors to make a decision.  Should GPU Coin be maintained as a scrypt and possibly be hammered, or switch up to scrypt-n to deter not only the current and future ASICs, but to alleviate the multipool hash rates that would no doubt ensue once the coin maintained any sort of intrinsic value.  The GPU Coin community was loud and clear, and the decision was made to change to scrypt-n.  After I informed the developer of the intended change, what was given was a wallet that was missing libraries and only had one node, which was my own computer. The lack of a github, where others could grab the source for their own uses only added to the confusion.  The fact that there were 1,400 people sitting in the IRC chat room at launch, making this launch extremely traffic heavy, only made things worse since GPU Coin was not ready for that volume of users.  It was obvious that there were many people that wanted in on GPU Coin, due to the business plan associated with it.

          The first launch ended in complete failure with the block chain forking all over the place.  Recognizing the situation I called off the launch, citing that it was FUBAR.  I started looking for someone to fix the problems and make GPU Coin launch properly.  I was contacted by micryon who offered his services to help GPU Coin launch.  I was also contacted by the owner of OakPool, who stated they had already formulated a  fix for the source code with their team of developers and were ready to get it out in the open.  I made the decision to go with this new team of developers who had already fixed the source and had successful launches in the past.

        We pushed for an extremely quick launch, since we already had the source code fixed, and wanted to make sure that people who prepared for the GPU Coin launch wouldn't have to wait an entire week.  The team helped me through setting up nodes and making sure the coin wouldn't fork. We launched what we thought was the right coin.  Although the forking was alleviated, it turned out that the programmer had accidentally pushed the wrong source code forward, releasing an exact copy of Pandacoin, not GPU Coin.  To preserve the integrity of GPU Coin and our IPO investors I decided that giving the IPO investors something completely different than what we initially agreed upon without consent was not the way to go. I was forced to abort the launch again.  A single mistake, was made under stress, had halted everyone's hard work.

        We now have a team consisting of micryon, cryptowest, and their associates. To ensure a successful launch, the new launch date is Sunday March 9th to allow for additional testing and debugging. This will enable our development team to push out GPU Coin with no errors. The nodes and source code will be ready and GPU Coin will be launched successfully. Although we have suffered some bumps in the road our plan is sound and I am confident in GPU Coin's imminent successful launch.

        As for the the business side, I have a prototype modular mining case being delivered this weekend that is made from aluminum, has holding space for up to 8 GPUs, slots for two PSUs and, of course, room for the motherboard.  The prototype will have round stock pillars that thread together to allow for stacking. Everything is made of aluminum that is rigid and supportive.  I have also contacted TMSI Industries, Inc. in Canada, to design and prototype an 8 way PCIe 16x USB splitter/riser.  It is comprise of a PCB that plugs into the 16x PCIe slot on the motherboard and a secondary PCB that attaches to the GPUs.  The splitter has 8 female USB 3.0 connector and the secondary PCB that attaches to the GPUs is SATA powered and has another female USB 3.0 connector.  This will allow for any motherboard with a single 16x slot to have the maximum amount of GPUs supported by the OS in service, without having to purchase an extremely expensive motherboard.  I was going to green light the project a few days ago, but the initial launch failure was a much more pressing issue.

        In summary, I again wish to apologize to you, our IPO investors, for the lack of contact as I was dealing with the situation in real time working with the development team. We will supply miners their GPUs without the hassle of transferring into fiat currency, at prices cheaper than the main competitors.  GPU Coin LLC will further the mining community by developing hardware that will push GPU mining to a more efficient platform. I am firm in my belief that GPU Coin LLC will live up to our original plan as we solve our technical issues.  I will stand by my offer to allow any IPO investor to back out if they think GPU Coin and the supporting business plan hold no intrinsic value. I am confident that we now have a team that can solve our technical issues.  I remain dedicated to launching a quality coin worthy of your investment and support.

        GPU Coin LLC, CEO
        Jaymes Reilly
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Wow! This sounds pretty sweet actually. Looking like a comeback for GPUcoin!

[illiki23]

Finally...

Mostly excuses though.  No one is too busy to issue an update to their investors.  Most of this could have been averted if the CEO took reasonable action.

But atleast it is a start.

I don't like that he tries to throw out a bunch of technical jargon describing their plans.

Why don't you just focus on launching and reselling cheap GPUs and then worry about improving upon the business?

Please do not spend a penny of the investor's money on 'prototypes' and such.