[GPUC] GPU Coin | Mandatory Wallet Update

[rygamble]

Someone from the dev team of GPUcoin post something in this thread today?
I need to know when they will send my IPO refund...

I have traded a few emails with the CEO. He had converted BTC to cash via coinbase in order to purchase the GPUs, he has since done a transaction to convert cash back into BTC on coinbase, but as most of us know it does take some time for Coinbase to deposit BTC into your wallet. Next Tuesday is the target date so far. Also, at the time I was communicating with him he was at 4.68 BTC in refund requests.

How the hell does the dev of an alt of this magnitude not have a verified CoinBase account yet?

[tagged]

Someone from the dev team of GPUcoin post something in this thread today?
I need to know when they will send my IPO refund...

I have traded a few emails with the CEO. He had converted BTC to cash via coinbase in order to purchase the GPUs, he has since done a transaction to convert cash back into BTC on coinbase, but as most of us know it does take some time for Coinbase to deposit BTC into your wallet. Next Tuesday is the target date so far. Also, at the time I was communicating with him he was at 4.68 BTC in refund requests.

How the hell does the dev of an alt of this magnitude not have a verified CoinBase account yet?

I have a verified account, Coinbase still only will give you instant credit for up to $1000 worth of coins a week.   I saw a screen shot he provided showing he purchased 4 BTC, takes 4/5 days for them to credit, verified or not, that is how coinbase is now.

[Radi777]

I am under the assumption GPUCoin must issue refunds even if they are requested after the Sunday launch.  There is no window where an investor must request the refund - some of us are busy and will not be able to get to it for a little while.  They cannot argue that the offer of refunds is no longer valid because they succeeded in actually launching it.
I for one am busy and will be out of town and in the case I want a refund will not be able to file for it for a few days.

Sooooooo - you have access to a computer to post here but cannot send an email with the refund request. Da Fuq?

Yup.  I am a busy man.  I am really just pointing out a technicality which is there is no immediate time limit on getting a refund.  A refund was offered and I have time before I sit down and request my refund along with a lengthy letter explaining the reasons for doing so. (if I decide on a refund, there is no stipulation that a refund must be decided on or requested immediately)

This seems pretty selfish dude.  At least write him a letter explaining that you plan to get a refund so he can distribute the coins assigned to you amongst the other IPO members.  Just because he did not say you have to request your refund before the launch it kind of makes sense that it should be.  I would say once he sends out the coins any IPO members who want and refund should not expect much.

Just my thoughts.

He's just trying to make a point - but his logic is flawed. Until GPUcoins are issued to the IPO participants there is the possibility of a refund in BTC. Once the GPUcoins are issued then the deal is done and the coins will be available for him to pick up. Just because he elects not to provide a wallet address and collect his funds means nothing. He could request a refund in BTC if the value of GPU are not to his favor, but basic accounting requires that a conversion of GPU to BTC be completed the going rate at the time of the refund. This is basic accounting. It is also the only way for the IPO distribution to be apportioned correctly. In fact, nothing prevents the CEO from placing a market order with his coins at the time a refund is requested and issuing a refund based on the proceeds thereof. You may wish to reconsider your strategy in light of the foregoing illicki23.

Completly agree. Seems like he wants the best of both worlds and when he doesn't like the price of GPUcoins he will want his refund, if he likes it he will keep it lol

[flasheart]

As a GPUcoin IPO investor here are my concerns...

1. CEO.  I do believe the CEO is honest, which is a big plus.  I think his business goals are plausible... but I don't like how he as performed under pressure so far.  Now this may be a learning experience for him and not a show of what is going to happen the next time things get tough.

2. Dev Team.  1st Dev team failed, 2nd Dev team was rushed... will we be successful this time?  Well there are enough days to get it right.  What I would like to here though is daily status updates from the CEO saying the redevelopment / launch is on schedule, etc...   More communication = happier community = win.

3. IPO Investment.  As an investor I think there is more upside potential for this coin then risk... however this is assuming that my share of GPUcoin will increase based on those investors that pulled out.  If the CEO does NOT open up GPUcoin for a 2nd round of investment I will keep my BTC in GPUcoin... however, if he does open it to another round then I would probably pull out, though I will still mine the coin at launch for a few hours / days.

Again with communication being key a statement and update to the community by the CEO addressing my concerns and other valid concerns would be helpful.

Failure to provide adequate communication and manage expectations within 24 hours will result in my request (and perhaps others) to withdraw IPO funds.


Thanks and I look forward to the response.

[benedictlol]

As a GPUcoin IPO investor here are my concerns...

1. CEO.  I do believe the CEO is honest, which is a big plus.  I think his business goals are plausible... but I don't like how he as performed under pressure so far.  Now this may be a learning experience for him and not a show of what is going to happen the next time things get tough.

2. Dev Team.  1st Dev team failed, 2nd Dev team was rushed... will we be successful this time?  Well there are enough days to get it right.  What I would like to here though is daily status updates from the CEO saying the redevelopment / launch is on schedule, etc...   More communication = happier community = win.

3. IPO Investment.  As an investor I think there is more upside potential for this coin then risk... however this is assuming that my share of GPUcoin will increase based on those investors that pulled out.  If the CEO does NOT open up GPUcoin for a 2nd round of investment I will keep my BTC in GPUcoin... however, if he does open it to another round then I would probably pull out, though I will still mine the coin at launch for a few hours / days.

Again with communication being key a statement and update to the community by the CEO addressing my concerns and other valid concerns would be helpful.

Failure to provide adequate communication and manage expectations within 24 hours will result in my request (and perhaps others) to withdraw IPO funds.


Thanks and I look forward to the response.

Agreed, I think everyone here would pull out if he offered a second IPO, be such a foolish thing to do.. Even if many people ask for refunds, the CEO should be loyal to the current investors for their time, faith and patience.

[grbox2001]

Still selling 5 million gpucoins.

Selling GPU coins in sets of 1 million each.
Auction ends 1 hour before coin launch.

Bidding starts at 0.5BTC per million. Minimum bid increase after that is .1

Or buy all 5 million for 4BTC and get a bonus 500,000 coins.


Lot 1: No bids!

Lot 2: No bids!

Lot 3: No bids!

Lot 4: No bids!

Lot 5: No bids!

https://bitcointalk.org/index.php?topic=499000

[phaddie]

As a GPUcoin IPO investor here are my concerns...

1. CEO.  I do believe the CEO is honest, which is a big plus.  I think his business goals are plausible... but I don't like how he as performed under pressure so far.  Now this may be a learning experience for him and not a show of what is going to happen the next time things get tough.

2. Dev Team.  1st Dev team failed, 2nd Dev team was rushed... will we be successful this time?  Well there are enough days to get it right.  What I would like to here though is daily status updates from the CEO saying the redevelopment / launch is on schedule, etc...   More communication = happier community = win.

3. IPO Investment.  As an investor I think there is more upside potential for this coin then risk... however this is assuming that my share of GPUcoin will increase based on those investors that pulled out.  If the CEO does NOT open up GPUcoin for a 2nd round of investment I will keep my BTC in GPUcoin... however, if he does open it to another round then I would probably pull out, though I will still mine the coin at launch for a few hours / days.

Again with communication being key a statement and update to the community by the CEO addressing my concerns and other valid concerns would be helpful.

Failure to provide adequate communication and manage expectations within 24 hours will result in my request (and perhaps others) to withdraw IPO funds.


Thanks and I look forward to the response.

Nailed it.

The dude talking about "maybe getting around to asking for a refund" seems to forget that they guy who started this coin is no different than any of us.  Other than he decided to take some initiative and move forward on his idea.  And kudos to him for it.  The fact that illiki32 wants to screw him due to him not mentioning something in his email is a dick move, and talking about how a business this size should not be doing this or that is silly.  This dude is trying to start a business he is learning as he goes, and some people seem to want to punish him for that??  This guy seems to be trying hard and I think it is a good idea.  He is making a tonne of mistakes and also seems to be trying to do what is right.  I email him and said he should lean on the community and the IPO investors to promote the coin, and that he NEEDS to communicate constantly.  The fact that only a few people knew he was getting delays from coinbase is really bad, we ALL need to know that.

 anyway rant over.  I hope this coin does well. I only have .2 BTC invested so I am ok either way.  

  Phad.

[jimlite]

I also am not requesting my IPO refunded.
I think they will pull this off, and rather than
frantically mining Sunday night, and worrying
about a perfect launch, I will get a lot of coins
from the IPO.  But I agree with other posters
that if the IPO is re-opened, and our shares
diluted, I will want a refund.  I also agree that
CEO may not be a crypto, alt coin, or programming
expert, but he had a good idea and is getting
the right help to see it through with Mycron
and Cryptowest. I will give the guy my IPO
investment as well as the benefit of the doubt,
but I DO think he should post updates here, on
Facebook, and on Twitter more often.

[Stanr010]

Someone from the dev team of GPUcoin post something in this thread today?
I need to know when they will send my IPO refund...

I have traded a few emails with the CEO. He had converted BTC to cash via coinbase in order to purchase the GPUs, he has since done a transaction to convert cash back into BTC on coinbase, but as most of us know it does take some time for Coinbase to deposit BTC into your wallet. Next Tuesday is the target date so far. Also, at the time I was communicating with him he was at 4.68 BTC in refund requests.

Seems that the CEO is not a bad guy, (not scammer,not cheater). But he is also not a well-qualified man in crypto field.

I'm getting the feeling that he's a little bit in over his head and crypto is a bit new to him ie. he hasn't been around for a couple years.

[BKM]

As a GPUcoin IPO investor here are my concerns...

1. CEO.  I do believe the CEO is honest, which is a big plus.  I think his business goals are plausible... but I don't like how he as performed under pressure so far.  Now this may be a learning experience for him and not a show of what is going to happen the next time things get tough.

2. Dev Team.  1st Dev team failed, 2nd Dev team was rushed... will we be successful this time?  Well there are enough days to get it right.  What I would like to here though is daily status updates from the CEO saying the redevelopment / launch is on schedule, etc...   More communication = happier community = win.

3. IPO Investment.  As an investor I think there is more upside potential for this coin then risk... however this is assuming that my share of GPUcoin will increase based on those investors that pulled out.  If the CEO does NOT open up GPUcoin for a 2nd round of investment I will keep my BTC in GPUcoin... however, if he does open it to another round then I would probably pull out, though I will still mine the coin at launch for a few hours / days.

Again with communication being key a statement and update to the community by the CEO addressing my concerns and other valid concerns would be helpful.

Failure to provide adequate communication and manage expectations within 24 hours will result in my request (and perhaps others) to withdraw IPO funds.


Thanks and I look forward to the response.

Nailed it.

The dude talking about "maybe getting around to asking for a refund" seems to forget that they guy who started this coin is no different than any of us.  Other than he decided to take some initiative and move forward on his idea.  And kudos to him for it.  The fact that illiki32 wants to screw him due to him not mentioning something in his email is a dick move, and talking about how a business this size should not be doing this or that is silly.  This dude is trying to start a business he is learning as he goes, and some people seem to want to punish him for that??  This guy seems to be trying hard and I think it is a good idea.  He is making a tonne of mistakes and also seems to be trying to do what is right.  I email him and said he should lean on the community and the IPO investors to promote the coin, and that he NEEDS to communicate constantly.  The fact that only a few people knew he was getting delays from coinbase is really bad, we ALL need to know that.

 anyway rant over.  I hope this coin does well. I only have .2 BTC invested so I am ok either way.  

  Phad.

Irrespective of the launch failures and IPO refunds, the IPO has been closed. Reopening the IPO would be a material change to the terms and would require sufficient notice to the participants in order to chose to increase participation or withdraw. [EDIT] Typo

[phaddie]

I did not think there was any mention by the CEO of reopening the IPO.  Did I miss that?

[djm34]

As a GPUcoin IPO investor here are my concerns...

1. CEO.  I do believe the CEO is honest, which is a big plus.  I think his business goals are plausible... but I don't like how he as performed under pressure so far.  Now this may be a learning experience for him and not a show of what is going to happen the next time things get tough.

2. Dev Team.  1st Dev team failed, 2nd Dev team was rushed... will we be successful this time?  Well there are enough days to get it right.  What I would like to here though is daily status updates from the CEO saying the redevelopment / launch is on schedule, etc...   More communication = happier community = win.

3. IPO Investment.  As an investor I think there is more upside potential for this coin then risk... however this is assuming that my share of GPUcoin will increase based on those investors that pulled out.  If the CEO does NOT open up GPUcoin for a 2nd round of investment I will keep my BTC in GPUcoin... however, if he does open it to another round then I would probably pull out, though I will still mine the coin at launch for a few hours / days.

Again with communication being key a statement and update to the community by the CEO addressing my concerns and other valid concerns would be helpful.

Failure to provide adequate communication and manage expectations within 24 hours will result in my request (and perhaps others) to withdraw IPO funds.


Thanks and I look forward to the response.

Nailed it.

The dude talking about "maybe getting around to asking for a refund" seems to forget that they guy who started this coin is no different than any of us.  Other than he decided to take some initiative and move forward on his idea.  And kudos to him for it.  The fact that illiki32 wants to screw him due to him not mentioning something in his email is a dick move, and talking about how a business this size should not be doing this or that is silly.  This dude is trying to start a business he is learning as he goes, and some people seem to want to punish him for that??  This guy seems to be trying hard and I think it is a good idea.  He is making a tonne of mistakes and also seems to be trying to do what is right.  I email him and said he should lean on the community and the IPO investors to promote the coin, and that he NEEDS to communicate constantly.  

constantly... seriously. what would be enough communication for you ? every minute.

I understand you invested money in his venture, that doesn't mean you married the guy.
Right now and until the launch there is really nothing to communicate on.
And clearly the best thing you have to do is to wait and let them do their jobs.

[BKM]

I did not think there was any mention by the CEO of reopening the IPO.  Did I miss that?

No you did not - someone raised it as a potential issue - when in fact it is a non-issue. IPO is closed and nothing has been said about reopening it.  

[phaddie]

I did not think there was any mention by the CEO of reopening the IPO.  Did I miss that?

No you did not - someone raised it as a potential issue - when in fact it is a non-issue. IPO is closed and nothing has been said about reopening it.  

The CEO might not be super businessman, but I doubt he is even considering this as an option.  Honestly my biggest issue for the next launch is if there will be a MAC wallet.

[trademark]

I've just woke up and been sending all the refunds to the people who wish it, but a vast majority of the e-mails are still very excited.  Sorry to see some of you go, but it's your loss other IPO's gain.

Guys. I doubt they'll be a 2nd round of IPOs. Read the CEO's message above. I am assuming "other" means us, not new IPOs. lol.

[BKM]

I've just woke up and been sending all the refunds to the people who wish it, but a vast majority of the e-mails are still very excited.  Sorry to see some of you go, but it's your loss other IPO's gain.

Guys. I doubt they'll be a 2nd round of IPOs. Read the CEO's message above. I am assuming "other" means us, not new IPOs. lol.

Confirmed by email just now that there will not be a second round to IPO - the current IPO investors will however be able to buy in for the amounts that will be refunded. I would not be surprised if that get snapped up pretty fast. Apparently around 5 BTC is being refunded so far.

[trademark]

I've just woke up and been sending all the refunds to the people who wish it, but a vast majority of the e-mails are still very excited.  Sorry to see some of you go, but it's your loss other IPO's gain.

Guys. I doubt they'll be a 2nd round of IPOs. Read the CEO's message above. I am assuming "other" means us, not new IPOs. lol.

Confirmed by email just now that there will not be a second round to IPO - the current IPO investors will however be able to buy in for the amounts that will be refunded. I would not be surprised if that get snapped up pretty fast. Apparently around 5 BTC is being refunded so far.

I just got the email and sent the CEO the email below.  Let me know if you agree or not.

Hello. Glad to see you are not opening a 2nd round. But I think you should at least save a few shares for the current IPO holders as an incentive for sticking around after 2 false launches.  I think there might be more refunds if there are no incentive to stay.  Just a thought.

[johliks]

If the coin doesn't launch by Sunday then let's make it happen as a community. I'm well equipped to handle the code and get everything compiled nicely. I have a large server (16x) infrastructure already in place to create the backbone. I've estimated an entire day to get everything done and up smoothly.

All we need are the parameters...

Let me know if there is any interest in this.

[phaddie]

I've just woke up and been sending all the refunds to the people who wish it, but a vast majority of the e-mails are still very excited.  Sorry to see some of you go, but it's your loss other IPO's gain.

Guys. I doubt they'll be a 2nd round of IPOs. Read the CEO's message above. I am assuming "other" means us, not new IPOs. lol.

Confirmed by email just now that there will not be a second round to IPO - the current IPO investors will however be able to buy in for the amounts that will be refunded. I would not be surprised if that get snapped up pretty fast. Apparently around 5 BTC is being refunded so far.

I just got the email and sent the CEO the email below.  Let me know if you agree or not.

Hello. Glad to see you are not opening a 2nd round. But I think you should at least save a few shares for the current IPO holders as an incentive for sticking around after 2 false launches.  I think there might be more refunds if there are no incentive to stay.  Just a thought.

+1 I like it.

[phaddie]

If the coin doesn't launch by Sunday then let's make it happen as a community. I'm well equipped to handle the code and get everything compiled nicely. I have a large server (16x) infrastructure already in place to create the backbone. I've estimated an entire day to get everything done and up smoothly.

All we need are the parameters...

Let me know if there is any interest in this.

I think this is a great Idea.  I have mentioned to the CEO a few times to get the community involved to try and get rid of some of the bad press.  If it fails again you should do this.