[GPUC] GPU Coin | Mandatory Wallet Update

[pearstar20]

Looking at http://coinmarketcap.com/ the GPUC has for column "volume (24h)" less than $800.

Can someone explain to me what does Volume (24h) column represent and how is it calculated?

the amount of money is traded in past 24h in all exchanges that coinmarketcap has included in the calculation

[kahir]

Looking at http://coinmarketcap.com/ the GPUC has for column "volume (24h)" less than $800.

Can someone explain to me what does Volume (24h) column represent and how is it calculated?

all buy/sell orders ...in all places ...


calculated based on current btc price

[takiyon]

As an IPO all I can say is that we are getting hosed. I have invested more than $28 equivalent. WE NEED TO DO SOMETHING!!!!

http://s29.postimg.org/quwtakfrb/Untitled.jpg
upload foto

[nauticatom]

As an IPO all I can say is that we are getting hosed. I have invested more than $28 equivalent. WE NEED TO DO SOMETHING!!!!


upload foto

$28 USD - thats scraps, there are a few of us who are a few BTC deep on this IPO, myself included, still holding these coins, plus was mining for 2 weeks straight (just pulled my miners off this morning after dedicatedpool started getting mpos issues)..

This needs to go Hard Fork - X11 Protocol, Block Rewards down to 1/3rd, or POS Only.

if you are bent out of shape on $28USD - ill give you $14 USD for all your GPUC, and you can consider  it a lesson learned..

otherwise, im holding my positions.

[jollyriffic]

As an IPO all I can say is that we are getting hosed. I have invested more than $28 equivalent. WE NEED TO DO SOMETHING!!!!

$28 USD - thats scraps, there are a few of us who are a few BTC deep on this IPO, myself included, still holding these coins, plus was mining for 2 weeks straight (just pulled my miners off this morning after dedicatedpool started getting mpos issues)..

This needs to go Hard Fork - X11 Protocol, Block Rewards down to 1/3rd, or POS Only.

if you are bent out of shape on $28USD - ill give you $14 USD for all your GPUC, and you can consider  it a lesson learned..

otherwise, im holding my positions.

i'm ipo, only invested 0.016 btc, but after that put about $200 into the market buying coins
i'll split that $14 with you..

[PCJargon]

As an IPO all I can say is that we are getting hosed. I have invested more than $28 equivalent. WE NEED TO DO SOMETHING!!!!


upload foto

$28 USD - thats scraps, there are a few of us who are a few BTC deep on this IPO, myself included, still holding these coins, plus was mining for 2 weeks straight (just pulled my miners off this morning after dedicatedpool started getting mpos issues)..

This needs to go Hard Fork - X11 Protocol, Block Rewards down to 1/3rd, or POS Only.

if you are bent out of shape on $28USD - ill give you $14 USD for all your GPUC, and you can consider  it a lesson learned..

otherwise, im holding my positions.

LOL, switch "GPU" coin to PoS? This guy is hilarious

[vesperwillow]

Every. Single. Prediction. Came true.

Everything I told the Owner would happen, has happened. And right on schedule, you guys are already discussing coin volume and value and a hardfork. It almost hurts to see how on-point I was with this. Seriously folks, dropping block reward? And transaction times, what on earth? Yes, make the coin even more susceptible to an attack, by all means. The network rate is so low on this coin right now it's security risk is in the red, a blockchain takeover would just ruin it further.

How many of the folks here discussing this issue and 'supporting it', are actually well versed in longterm coin analysis, lifecycle and development? By the discussion the last few pages, I'd say maybe 2 folks. You have a very active developer (not the owner, the code guy) who's willing to help out any way he can. Don't have him make changes which will just flush the coin down the tubes.

While I agree the block reward doesn't need to be as high as it is (as a transactional-flow coin operates well in the 'hundreds' block range), the fact remains that the block size isn't an issue with the value of the coin. You're minting them at the same rate regardless, so when you roll GPUC->BTC->USD it'll be the same. The problem is the flow of sales is declining because the purchase wave of GPU's is also declining (worldwide). Prices are beginning to stabilize again in the private market, and availability isn't nearly as bad now as it was 30 days ago, or 90 days ago. This isn't a shocker either, it's well known that the GPU demand is going down.

In other words, the problem is the target audience is losing interest. Raising the value of the coin (especially artificially) will just ruin the market more, because the mine-n-traders will just come along and mint your coins super fast and get paid and happily walk away.

Your last major hope is this sale drumming up business, and if it doesn't increase the volume of GPUC traded, you're likely not going to see a recovery. Just an estimate..

Edit: TLDR: The coin is working just fine, but nobody is interested

[PCJargon]

I still think that the demise of trust in cryptorush, which was (i think) the primary exchange for GPUC really screwed things up. For some reason people are still asking more on there than they are on other sites (buys at 16).

If anyone wants to make a quick profit, buy GPUC on another exchange, send to cryptorush. Trade the GPUC for BTC, trade the BTC into Doge or other (since cryptorush ran out of btc), Profit!

[svenp]

The primary purpose of GPU coin is to be a payment method for the business and it can't be an effective payment method at these levels.  It's not the value of the coin that's the problem exactly it's that we've run out of decimal places (dynamic range).

When you have a bid/ask of 7/8 for example, there's 14% between the two... even if there were lots of liquidity that's just too much friction.  Buyers/sellers at market instantly lose a large percentage of their buying power because of this.  

Ideally, I'd like to see a 1:10 reverse split or higher (as you would do in stocks).  The price per coin must be a lot higher.  I guess this isn't possible without reissuing the currency.

Decreasing the inflation rate does not necessarily lead to higher prices of course.  It doesn't increase scarcity since there'll still be 1B or so coins, it just removes the incentive for anyone to mine.  And if miners abandon the coin, it dies...  which is not positive for prices.

As to the block time, it's silly to change that.  1 minute blocks are fine.  If you want to decrease the coins/day just decrease the block subsidy.

The block subsidy should have been 200 or so (135M total coins).  

To sum up, the coin can survive falling in price while the business and aftermarket trade volume grow but it can't survive if it runs out of decimal places...  

micryon, solutions?

[1369]

Just wanted to give a shout out to the GPUcoin devs for their help on my coin fork, you know who u are! Give these guys some <3

[micryon]

While I agree the block reward doesn't need to be as high as it is (as a transactional-flow coin operates well in the 'hundreds' block range),

That's all we're saying right now regarding the coin hard fork... sure i agree it's not the core issue, but anything we can do to help.  I don't feel nethash security are going to be significant improved or not , either way.

The primary purpose of GPU coin is to be a payment method for the business and it can't be an effective payment method at these levels.  It's not the value of the coin that's the problem exactly it's that we've run out of decimal places (dynamic range).

Yes agree, the problem is that this is a payment method with a large inflation rate..

To sum up, the coin can survive falling in price while the business and aftermarket trade volume grow but it can't survive if it runs out of decimal places...  

micryon, solutions?

I've proposed a solution, similar to what you suggest, reduce subsidy at a certain point and hard fork..

But as I've said, i can implement anything, but it requires an executive decision from the CEO and owners of GPUCoin LLC.  Without that I cannot make these kids of economic changes.

[takiyon]

As an IPO all I can say is that we are getting hosed. I have invested more than $28 equivalent. WE NEED TO DO SOMETHING!!!!

http://s29.postimg.org/quwtakfrb/Untitled.jpg
upload foto

$28 USD - thats scraps, there are a few of us who are a few BTC deep on this IPO, myself included, still holding these coins, plus was mining for 2 weeks straight (just pulled my miners off this morning after dedicatedpool started getting mpos issues)..

This needs to go Hard Fork - X11 Protocol, Block Rewards down to 1/3rd, or POS Only.

if you are bent out of shape on $28USD - ill give you $14 USD for all your GPUC, and you can consider  it a lesson learned..

otherwise, im holding my positions.

Its my first IPO. Like many I am holding out. 28 usd is 28 usd. Thats what its worth now. I still buy coins though. Hoping to at least make something.

[hendr1x]

Hello everyone,
I am hoping to be adding more countries as shipping options.  I currently have Mexico and Netherlands on the list.  If anyone would like to request others please PM me.  Each country needs to be manually added due how the shipping carrier works and I can not guarantee that we any more will be added.  That said, I will try my best.

[reesev]

Contest - guess the price of first gpu (closest wins card)
http://www.gpucoinforum.com/viewtopic.php?f=8&t=2734


a contest thread over at gpucoinforum and I won!!! Woohooo

I guessed the closest price to the first 280x sold!



So today i get a email telling me they cant afford to send me a 280x but offered me a r7 240.



Was i the only one to think I was entering to win a 280x?

very sad panda today!

[MarketMover_ok]

Contest - guess the price of first gpu (closest wins card)
http://www.gpucoinforum.com/viewtopic.php?f=8&t=2734


a contest thread over at gpucoinforum and I won!!! Woohooo

I guessed the closest price to the first 280x sold!



So today i get a email telling me they cant afford to send me a 280x but offered me a r7 240.



Was i the only one to think I was entering to win a 280x?

very sad panda today!

Free gpu .... I would take it, if you don't wan't it.

[PCJargon]

Contest - guess the price of first gpu (closest wins card)
http://www.gpucoinforum.com/viewtopic.php?f=8&t=2734


a contest thread over at gpucoinforum and I won!!! Woohooo

I guessed the closest price to the first 280x sold!



So today i get a email telling me they cant afford to send me a 280x but offered me a r7 240.



Was i the only one to think I was entering to win a 280x?

very sad panda today!

Free gpu .... I would take it, if you don't wan't it.

Maybe you can just get the GPUC equivalent and hoard it until the value rises?

[jollyriffic]

Contest - guess the price of first gpu (closest wins card)
http://www.gpucoinforum.com/viewtopic.php?f=8&t=2734


a contest thread over at gpucoinforum and I won!!! Woohooo

I guessed the closest price to the first 280x sold!



So today i get a email telling me they cant afford to send me a 280x but offered me a r7 240.



Was i the only one to think I was entering to win a 280x?

very sad panda today!

that contest was pretty vague.

[illiki23]

Contest - guess the price of first gpu (closest wins card)
http://www.gpucoinforum.com/viewtopic.php?f=8&t=2734


a contest thread over at gpucoinforum and I won!!! Woohooo

I guessed the closest price to the first 280x sold!



So today i get a email telling me they cant afford to send me a 280x but offered me a r7 240.



Was i the only one to think I was entering to win a 280x?

very sad panda today!

I thought it was for a 280x as well, so don't feel too bad.  And you did get something out of it at least.

The contest was not just vague but misleading.  The wording implies the prize is a 280x.

It is somewhat shady.

[svenp]

I've proposed a solution, similar to what you suggest, reduce subsidy at a certain point and hard fork..

But as I've said, i can implement anything, but it requires an executive decision from the CEO and owners of GPUCoin LLC.  Without that I cannot make these kids of economic changes.

Ok, this is (probably) crazy.... but... what if the currency was re-issued at 1/100th the volume of this one (200 subsidy, 135M maxcoins, etc)?  Is there some way current GPUC holders could convert to the new currency?  I know that's a bit drastic and perhaps impossible practically but something has to be done and cutting the subsidy isn't going to be enough IMHO unless someone supports the price during the transition.

[PCJargon]

I've proposed a solution, similar to what you suggest, reduce subsidy at a certain point and hard fork..

But as I've said, i can implement anything, but it requires an executive decision from the CEO and owners of GPUCoin LLC.  Without that I cannot make these kids of economic changes.

Ok, this is (probably) crazy.... but... what if the currency was re-issued at 1/100th the volume of this one (200 subsidy, 135M maxcoins, etc)?  Is there some way current GPUC holders could convert to the new currency?  I know that's a bit drastic and perhaps impossible practically but something has to be done and cutting the subsidy isn't going to be enough IMHO unless someone supports the price during the transition.

Um, hard fork doesn't mean re-issuing the currency, i just means changing the way it's mined. Any coins already generated would still be part of the same chain.

EDIT: And doing what you're suggesting, re-issuing the currency and allowing current holders to trade in to the new one completely from ground up means that the old network would die, would be forked, and someone could easily falsify millions of GPUC.