[GPUC] GPU Coin | Mandatory Wallet Update

[kke]

Dealers and customer have different prices, but they have a contrat to not sell them under a certain price, the fact is that they dont need contract to exchange them with potatoes (aka gpuc), so they can break the "price". The only thing they are selling is gpucoin, can't even say you buy GPU with gpuc as it's not money.

Isn't that kind of price fixing illegal?

[1714605372]

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[1714605372]

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[freeloader1969]

If they can sell hardware cheaper than other online stores and still make a profit or even cover the expenses, why are they not doing it on USD already? If they can, why can't someone else and how come there isn't some store selling cheap gpu's and having them in stock all the time? If they can't, well, then there will be no business.

It doesn't matter if they sell cheaper or at store price or at a bit over the regular store price. It's still worth it because you will have to exchange one currency for a physical item and not GPU to BTC and then to USD and then purchase. You lose/win on each stage, but mostly you lose. And if the coin is backed by a physical item it gives it a value, so in turn in can drive the exchange rate for BTC and not the other way arround.

Overall if they will get the shop online and working then this coin will go a long way!

Totally agree, and i have an idea that will put this coin above bitcoin.. But i am not telling it here.. lol..

Above BTC???
You mean a market cap of above 12 billions??

All i can say is that its a possibility, But wont happen instantly. But the value will certainly increase well above litecoins in a very short time. Depends how strong willed the CEO is. I have now sent an email to the CEO, but not divulged any info, yet..

I have a marvelous proof describing the life, the universe, and everything. Unfortunately this message is too small to contain it.

I know who really killed JFK.  Unfortunately this message board is too small to contain it.

[Ritual]

If they can sell hardware cheaper than other online stores and still make a profit or even cover the expenses, why are they not doing it on USD already? If they can, why can't someone else and how come there isn't some store selling cheap gpu's and having them in stock all the time? If they can't, well, then there will be no business.

It doesn't matter if they sell cheaper or at store price or at a bit over the regular store price. It's still worth it because you will have to exchange one currency for a physical item and not GPU to BTC and then to USD and then purchase. You lose/win on each stage, but mostly you lose. And if the coin is backed by a physical item it gives it a value, so in turn in can drive the exchange rate for BTC and not the other way arround.

Overall if they will get the shop online and working then this coin will go a long way!

Totally agree, and i have an idea that will put this coin above bitcoin.. But i am not telling it here.. lol..

Above BTC???
You mean a market cap of above 12 billions??

All i can say is that its a possibility, But wont happen instantly. But the value will certainly increase well above litecoins in a very short time. Depends how strong willed the CEO is. I have now sent an email to the CEO, but not divulged any info, yet..

I have a marvelous proof describing the life, the universe, and everything. Unfortunately this message is too small to contain it.

I know who really killed JFK.  Unfortunately this message board is too small to contain it.

Easy peasy. We all know it was Elvis, who shot JFK from his spaceship which was being piloted by a then young Satoshi Nakamoto. I found pictures on MySpace which showed the bullet used - it was actually a mother of pearl tuning peg from a guitar JUST LIKE ELVIS USED. So smoke THAT proof!!!!!!

[antonio8]

Please, could someone give me an example of a command line to mine Gpucoin with cudaminer?

Thx

GTX 750ti: cudaminer.exe --algo=scrypt:2048 -d 1 -m 1 -l T5x24 -i 0 -H 2   Getting about 150kh/s
GTX 670: cudaminer.exe --algo=scrypt:2048 -H 1 -d 0 -i 0 -C2  Getting 134 kh/s

Sorry if answered and you are up and running. Just got up and started reading.

[Anthropolis]

If you guys are ready to sell your GPUC, although I think you should hold onto them, join us at Atomic-Trade. We're having fun in the chatbox. You can watch the markets and see whats doing too! Later you can get verified and trade with US Dollars too!
Don't just trade, Atomic-Trade! Click me!

[blacklig]

So the coin has only been truly launched since 6 hours ago and people are already:

-quitting because it's too hard

-bitching about price not good enough

-calling it a scam

?


Come on, seriously....

tell me what is the point to mine a new coin with such high difficulty?

Wtf? There's nothing better than that! 99% of coins released here are instamined, then within a day, dumped to death. That can't happen with this coin. Yes it might take a while to earn but that's good for the value of the coin in the long term. If you don't want to mine it don't but you might regret it later when you could've had a few GPUs worth.

That can't happen with this coin.
seriously?  

So you had to forget about premine... this guys dont risk with instamine, only they sit on pile of coins deciding when they dump it.. and if you read announcement thourougly, you can clearly see, they are saying they will dump coins to buy their own cards that they will nicely sell you then

[mirny]

what other good pool for this coin except dedicated and supranova.cc?

look for P2P nodes

[zmhaha]

I think this coin will be killed by the devs dumping even more than any other coins.

I understood that the business idea is to sell hardware with near retail prices using these gpu coins. The price of the hardware then has to be defined by the value of both USD/BTC and GPUC/BTC exchanges.

Once someone makes a hardware purchase, the devs have to dump the coins back to the market to convert them to BTC and then USD to cover the expenses.

I also wonder how they handle taxes... and warranties.. and refunds (think of exchange rates).. The business is operated by this one Jaymes Reilly guy only, what happens if he gets sick or dies accidentally or gets arrested or something?

How do they define the exchange rate (and the price) when purchasing the hardware? Can you make a couple of really high price buy orders at exchanges before making your purchase and have the hardware really cheap?  

It's a huge risk for the devs, since they might not get compensated for the GPUs if nobody is buying their GPU coins or the value of GPU coin has dropped between customers purchase and their dumping. Why include the gpu coin in the mix?

If they can sell hardware cheaper than other online stores and still make a profit or even cover the expenses, why are they not doing it on USD already? If they can, why can't someone else and how come there isn't some store selling cheap gpu's and having them in stock all the time? If they can't, well, then there will be no business.

It will never work.

What do you think the merchants who take BTC are doing? They do the same thing: Dump the BTC immediately for USD, unless their suppliers start taking BTC. This is basically what the CEO of Overstock.com said.

Tax: CEO already posted the thing about taxes: GPUcoin is considered as a commodity and when you buy GPU with GPUC, you are exchanging commodity with commodity, it is tax free.

Warranty: The warranty is an issue but it is good as long as the CEO stick to Asus, MSI, Gigabyte because these guys do serial based RMA, but no Sapphire & possibly XFX.

Returns: The refund is tricky. Because when you buy a GPU with GPUC, you are probably doing it at a good exchange rate.

IF the refund is in form of GPUC: a the buyer wants a return and sees the exchange rate is lower than before, he probably will not do it. And if the exchange rate is higher, the CEO losses money to buy GPUC with BTC(which also involves variable exchange rate), or simply give back the original amount of GPUC out of his business GPUC wallet.

IF the refund is in form of USD: It is actually better for both sides because at the time of the purchase, the CEO sold the GPUC for USD at the given exchange rate at that particular moment. So the CEO refund the USD, for the GPU that he also paid USD to buy from his supplier. But the trade-off is that this process behaves like some way to preserve the value of your GPUC by enforcing its price at least at the time of purchase of the GPU. But of course, there will be shipping fees, and possibly restocking fees involved.

The 3rd way would be the following: Since at the time of purchase, you paid GPUC for a fixed USD priced GPU at that particular exchange rate for USD, the CEO can simply do the refund based on the exchange rate of USD-BTC-GPUC at the time of refund, and refund the GPUC back. But it is just redundant, and this is exactly most of the merchant who takes BTC doing, including Overstock.com. (but this helps with the coin a little bit because it makes buy orders and help with circulation)

But again, for any Asus, MSI, Gigabyte GPU, it is serial based RMA. When the CEO resell the returned GPU(surely needs to be at some discount), the next buyer should not have problems as long as the GPU is in good shape and functional as it should.

[xploreredfusion]

what other good pool for this coin except dedicated and supranova.cc?

look for P2P nodes

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[gronk1191]

What is needed is more publicity. The coin dev can't really do everything on his own. If we want to give value to the coin we must make it.

If you're on Reddit, this is the subreddit http://www.reddit.com/r/gpucoin. Go and get people to join, get people interested.

[smartalxx]

I think the price for GPUC should remain fairly stable,  once the store opens up and we have some idea about how many GPUC it will cost to get one GPU.   I think the GPUC should be in some way self-correcting because anyone who buys GPUC to get a GPU is going to check it against the value of BTC and their national currency.  If it's too much, they won't buy.  If it's too little, the sellers won't sell.  The volatility might be more connected to BTC volatility than manipulation of the GPUC market.

The only way I see extreme volatility is if there's a lot of dumping all at once or if the GPUC store is the only place where you can find, for example, 290x GPUs.

[BitOffer]

Let's get this on CoinMarketCap.

Once the store is up and a set value is giving. CoinMarketCap valuations could shoot up fast and that is when the fun begins.

[goodluck0319]

what other good pool for this coin except dedicated and supranova.cc?

look for P2P nodes

how do I setup a p2p address in conf file?

{
"pools" : [
   {
      "url" : "stratum+tcp://gpu.hashfever.com:3385",
      "user" : "username",
      "pass" : "xxxx123"
   },
   {
      "url" : "http://p2pool.org:9404",
      "user" : "gpuc address",
      "pass" : "xxxx12345"
   },
   {
      "url" : "p2phash.com:9404 ",
      "user" : "gpuc address",
      "pass" : "goodluck"
   }
]
,
"gpu-engine" : "1000",
"gpu-memclock" : "1500",
"gpu-powertune" : "20",
"intensity" : "13",
"temp-overheat" : "80",
"temp-cutoff" : "85",
"temp-hysteresis" : "3",
"vectors" : "1",
"worksize" : "512",
"lookup-gap" : "2",
"thread-concurrency" : "24550"

}

is this correct?

[Jherek]

I think the price for GPUC should remain fairly stable,  once the store opens up and we have some idea about how many GPUC it will cost to get one GPU.   I think the GPUC should be in some way self-correcting because anyone who buys GPUC to get a GPU is going to check it against the value of BTC and their national currency. The volatility might be more connected to BTC volatility than manipulation of the GPUC market.

The only way I see extreme volatility is if there's a lot of dumping all at once or if the GPUC store is the only place where you can find, for example, 290x GPUs.

Honestly, if you believe anyone mines that coin to buy GPUs you are just naive.

Who mines it is planning to dump it as soon as the price is profitable enough. Some of the miners bet on people that are expected buy this coin to get GPUs, but really look at it: You get GPUs quicker and cheaper on big markets than here - especially outside of north america. As said before, the whole model is a flaw, and if the creators are aware of the flaw instead of being totally naive, a scam.

[ocminer]

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[Danz0r77]

I think the price for GPUC should remain fairly stable,  once the store opens up and we have some idea about how many GPUC it will cost to get one GPU.   I think the GPUC should be in some way self-correcting because anyone who buys GPUC to get a GPU is going to check it against the value of BTC and their national currency. The volatility might be more connected to BTC volatility than manipulation of the GPUC market.

The only way I see extreme volatility is if there's a lot of dumping all at once or if the GPUC store is the only place where you can find, for example, 290x GPUs.

Honestly, if you believe anyone mines that coin to buy GPUs you are just naive.

Who mines it is planning to dump it as soon as the price is profitable enough. Some of the miners bet on people that are expected buy this coin to get GPUs, but really look at it: You get GPUs quicker and cheaper on big markets than here - especially outside of north america. As said before, the whole model is a flaw, and if the creators are aware of the flaw instead of being totally naive, a scam.

That's not true though. If I can get a GPU cheaper using GPUC than using $ then I'll use my GPUC for it. There's no reason for me to dump it on an exchange and convert it to $ just to buy a GPU that's more expensive.

[scrototeabaggins]

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[smartalxx]

Does anyone know how many BTC was invested in the IPO?  325,000,000 GPUC is going to be paid to the IPO so that should tell us about the value the CEO thinks GPUC should be.  And it should give a rough estimate as to the cost of a GPU.  Right now, one 290 at $525 (GPUC store price) is .86BTC.

[B2BigAl]

I think the price for GPUC should remain fairly stable,  once the store opens up and we have some idea about how many GPUC it will cost to get one GPU.   I think the GPUC should be in some way self-correcting because anyone who buys GPUC to get a GPU is going to check it against the value of BTC and their national currency. The volatility might be more connected to BTC volatility than manipulation of the GPUC market.

The only way I see extreme volatility is if there's a lot of dumping all at once or if the GPUC store is the only place where you can find, for example, 290x GPUs.

Honestly, if you believe anyone mines that coin to buy GPUs you are just naive.

Who mines it is planning to dump it as soon as the price is profitable enough. Some of the miners bet on people that are expected buy this coin to get GPUs, but really look at it: You get GPUs quicker and cheaper on big markets than here - especially outside of north america. As said before, the whole model is a flaw, and if the creators are aware of the flaw instead of being totally naive, a scam.

That's not true though. If I can get a GPU cheaper using GPUC than using $ then I'll use my GPUC for it. There's no reason for me to dump it on an exchange and convert it to $ just to buy a GPU that's more expensive.

Exactly.  If you can buy GPU's cheaper than newegg etc., and he actually has them in stock, it makes perfect sense to use GPUC.  That's the only question though, will he be able to stock the cards and sell them at a reasonable price.  If he comes in at the same price, there's no reason to use GPUC.

[scott0577]

Exchanges:
bittrex.com
www.nxt-e.com
www.atomic-trade.com
coin-swap.net