[GPUC] GPU Coin | Mandatory Wallet Update

[HowDoge]

This coin is not dead. The coin is working just fine, yes the price may have taken a hit now but all that's needed is for the store to keep functioning and/or for further adoption. The coin itself does not hinge on the original coin creator or the value of the coin for that matter.

[waltsmith]

Well, while GPUCoin did not post here today it's obvious he got my message about needing to update the OP and title. So, at least we don't need a new thread at this point. The reward halving is only a couple days away now, so lets see how that goes eh??

waltsmith

[vesperwillow]

BEFORE the store even opens and before anyone has a single GPUC. Why would anyone sell the GPUC for 1 satoshi?  The only coins that you need to let the market set it's value are coins that have no physical use. You can't buy anything with it and they are pretty much useless until someone creates a store/service for it.  GPUC however was intended to be used to purchase GPU's. So what's wrong with setting the price?

Because it'll still get traded at lower values due to the natural economy of cryptocurrency. Folks mining it just to turn it to BTC, if they want a quick conversion they'll offer it for less than others on the exchange. Without a community using it and refusing to sell at a low value (ie, setting up a wall), this is the natural entropy.. This is basic economy 101 stuff.

The coin can still work at 1 satoshi if there is volume on the front end. People focus too much on the backend (coin value). If the business front was very lively and had great volume, it wouldn't matter if it were 1 satoshi.

The backend works, the coin, but the frontend.. the business, the product flow, etc, is dying-to-dead, which nullifies the point of the coin.

[blueangel01]

You can't just declare a set value for the coin, that's pretty stupid.

So he declares 5m GPUC for a 270. The market rate is 1 satoshi. He gets .05btc for the gpuc. Really dude? That's your plan?

You have to let market set the value. If they would've used a better pricing algorithm and held a buffer of BTC to help get things started, and take a small hit at the outset to get the market flowing.. it would've been better. Not saying it would've kept things alive, but it would help.

Again, file this under lack of business acumen and failing to heed great advice from several folks who were willing to make his business into something great. He killed it, nobody else.

I don't think its stupid, your example is stupid. I did not say sell it for 0.5 btc. It was just an example number. If i see a GPU right now selling at lets say 5m GPU, I will buy 5 million GPU, which will raise the price of GPUcoin vs BTC. And now, I can afford to buy GPU now since i have 5 million GPU. But what if,suddenly someone dump the gpucoin before i could buy any? i wont be able to afford the GPU that i want.

$300 > btc > gpucoin > $100 value GPU? Just because someone dump i could not buy gpu anymore? Is this what you like the market to do?  or
$300 > btc > gpucoin > $600 value of GPU (because someone pump it) Woot!!!! i can buy 2 GPU?

This is not a simple buying of GPU at a cheap price, its more like gambling to me. Why would i buy to him?  

Let me help make the Value of GPUcoin drop even further if you want. Soon, GPU will be removed to GPU/BTC it can even become GPU/LTC or worse price will become 1 latoshi.

For those people reading this, think about it. Do not BUY GPUcoin you will not be able to afford the GPU you want because as soon as you put a buy order in, someone will dump their coin.

[vesperwillow]

The store has to trade GPUC out to BTC in order to stay alive. Merely setting a value on the store for a GPU will not stabilize the market, the market is determined by who is willing to trade for what price. Artificially stimulating market price only works for a super short period of time, until folks start dumping GPUC for less than what he is asking for.

At that point he's up a creek and pretty much underwater with his holdings--insolvent. This has been discussed like 200x on this thread. My 'example' was working out the math of the proposed idea.

The store trades GPUC for either BTC or USD, whichever his suppliers take. How is that a hard concept? You can't just inject a random value.

Edit: Adding on to the latoshi example, it would still work at 1 latoshi, you would just need more GPUC. It's no different than using BTC to buy product.

[blueangel01]

The store has to trade GPUC out to BTC in order to stay alive. Merely setting a value on the store for a GPU will not stabilize the market, the market is determined by who is willing to trade for what price. Artificially stimulating market price only works for a super short period of time, until folks start dumping GPUC for less than what he is asking for.

At that point he's up a creek and pretty much underwater with his holdings--insolvent. This has been discussed like 200x on this thread. My 'example' was working out the math of the proposed idea.

The store trades GPUC for either BTC or USD, whichever his suppliers take. How is that a hard concept? You can't just inject a random value.

Edit: Adding on to the latoshi example, it would still work at 1 latoshi, you would just need more GPUC. It's no different than using BTC to buy product.

Whatever you are proposing, i do not get it. Good luck to the buyers of this coin and into his store. Nobody is interested anymore.

Just sell the cheap GPU for $, no need to go through GPUC.

[lovethisguy]

I am not a troll just a pissed off investor... Ok lets do some math..

https://i.imgur.com/falMZxu.jpg

44 Radeon R9 280X New egg price. $379.99
10 R9 270  New egg price. $194.99
44 Radeon R7 240 New egg price 69.99

44 x $379.99 = $16719.56
10 x $194.99 = $1949.90
44 x $69.99  = $3079.56
Plus shipping = $337.52
                   _________
Total  price   $22086.54 USD

He was giving 71 BTC at the time BTC was at $600.00

71 x 600.00 = $42600.00 WOW!!!


                    $42600.00 USD
                   -$22086.54 USD
                   ______________
                    = $20513.46 USD


Now remember he told us he gets way better prices then newegg.com and the R7 240 he is sell for $27.00 because he bought them so cheap. So my math is not right my prices are off newegg.. 


WERE IS THE $20513.46 CEO!!!! I think the real number is more like $25000.00 usd

                   

He needs to account for that money.. In my state it is a felony to steal 20K...

Call me what you want.   The numbers do not lie..

[djm34]

Is this over ?

It would be stupid for any store to use all their money at once because they wouldn't be able to do any business until they have finished to sell their gpu and traded their gpuc. At least not spending all the money at once is a smart move (running away with the rest is another problem  )
Now the IPO holders, no matter what they believe bought, only GPUC over a business model in which they believed which was created but didn't succeed.
(when you invest money, sometimes you win money, sometimes you loose... guess it is the second case here)
So far I don't see anything wrong... he kept his word all along

[lovethisguy]

Is this over ?

It would be stupid for any store to use all their money at once because they wouldn't be able to do any business until they have finished to sell their gpu and traded their gpuc. At least not spending all the money at once is a smart move (running away with the rest is another problem  )

When some users asked if the IPO BTC can be used to pay are way on to mintpal.com we were told no IPO BTC was left..
I'm not crying about the money I lost on a bad investment but I did not invest in James . I invested in GPU LCC a company..

[micryon]

This point probably less important to point fingers, more ideas about how we can turn things around.  We have a coin, a website , a community and some devs.. that's far more than what most other coins have.. tbh.

[HowDoge]

This point probably less important to point fingers, more ideas about how we can turn things around.  We have a coin, a website , a community and some devs.. that's far more than what most other coins have.. tbh.

Exactly this. We are currently sitting at 1 satoshi but its really not hard to get this coin of the ground again. Im personally hoping that more cards come in stock soon.

[degel_x]

I really think shipping world wido would help

[takiyon]

This may be of interest to the GPU Coin community. I was looking for a loan for myself and then I saw this and was like WTF? What is going on with CEO Jaymes?

https://btcjam.com/listings/11382

I guess he is trying to get more money to keep the business a float?

[amdfxman1701]

I've said it before. He needs to sell scrypt miners alongside the gpus. I reckon many miners are satisfied with their gpus and aren't necessarily looking to buy more or upgrade, but scrypt miners are hot right now. I have one and in fact, I'd buy another from the gpucoin store if they had one listed  . . . .

Variety always beats a single selection.

[pastet89]

This may be of interest to the GPU Coin community. I was looking for a loan for myself and then I saw this and was like WTF? What is going on with CEO Jaymes?

https://btcjam.com/listings/11382

I guess he is trying to get more money to keep the business a float?

This is tagged. Not Jaymes.

[waldistons]

Hi all! Happy upcoming Easter to all of You!

I would like to claim Linux wallet bounty. There is no bullshitware in this app as I'm not familiar with wallet code, so its unchanged original code and I compiled it from latest git sources on Ubuntu 12.04 32 bit. Damn boost libraries, had to put in a lot of effort to compile wallet... I did a test receive and send transaction, seems to work. I sent coins from faucet to first user with GPUC address in signature that I found from the end of this thread. All operating system info and proof that it's working is in screenshot.

If someone does not know, wallet.dat is in hidden folder in your home folder. (see screenshot)

I would like to receive my bounty on this address: GaHCtiCNPFM1Nqf3YkcRNV4kq3pLNMnozS
Also, tips welcome as well, as I spent more than 2 hours on this

Download link: https://mega.co.nz/#!iJRjEYCQ!6jknsjFskISIEeeyNKkKZei8pVRVModMx3_1ItlUC1E

P.S. Whoever is running GPUC faucet from home page, something is wrong with deposit address as I was not enable to send coins back. Wallet seems to not accept that address.
P.P.S. From now on, I accept Linux wallet compilation requests for BTC. PM if interested.

[lemfuture]

can we change to pos to discourage dumping more hoarding from the community? also easier for me to chip in and secure the blockchain, i dont have to fire up my gpu on summer 100%, save me electricity cost too. i suggest this cuz im an ipo investor and still believe on the marketsite  

[lemfuture]

Hi all! Happy upcoming Easter to all of You!

I would like to claim Linux wallet bounty. There is no bullshitware in this app as I'm not familiar with wallet code, so its unchanged original code and I compiled it from latest git sources on Ubuntu 12.04 32 bit. Damn boost libraries, had to put in a lot of effort to compile wallet... I did a test receive and send transaction, seems to work. I sent coins from faucet to first user with GPUC address in signature that I found from the end of this thread. All operating system info and proof that it's working is in screenshot.

If someone does not know, wallet.dat is in hidden folder in your home folder. (see screenshot)

I would like to receive my bounty on this address: GaHCtiCNPFM1Nqf3YkcRNV4kq3pLNMnozS
Also, tips welcome as well, as I spent more than 2 hours on this

Download link: https://mega.co.nz/#!iJRjEYCQ!6jknsjFskISIEeeyNKkKZei8pVRVModMx3_1ItlUC1E

P.S. Whoever is running GPUC faucet from home page, something is wrong with deposit address as I was not enable to send coins back. Wallet seems to not accept that address.
P.P.S. From now on, I accept Linux wallet compilation requests for BTC. PM if interested.

thanks! i just remembered i still have gpucoins on pool xD
4.000 gpu coins sent as tip. good work! happy easter  

[pastet89]

Hi all! Happy upcoming Easter to all of You!

I would like to claim Linux wallet bounty. There is no bullshitware in this app as I'm not familiar with wallet code, so its unchanged original code and I compiled it from latest git sources on Ubuntu 12.04 32 bit. Damn boost libraries, had to put in a lot of effort to compile wallet... I did a test receive and send transaction, seems to work. I sent coins from faucet to first user with GPUC address in signature that I found from the end of this thread. All operating system info and proof that it's working is in screenshot.

If someone does not know, wallet.dat is in hidden folder in your home folder. (see screenshot)

I would like to receive my bounty on this address: GaHCtiCNPFM1Nqf3YkcRNV4kq3pLNMnozS
Also, tips welcome as well, as I spent more than 2 hours on this

Download link: https://mega.co.nz/#!iJRjEYCQ!6jknsjFskISIEeeyNKkKZei8pVRVModMx3_1ItlUC1E

P.S. Whoever is running GPUC faucet from home page, something is wrong with deposit address as I was not enable to send coins back. Wallet seems to not accept that address.
P.P.S. From now on, I accept Linux wallet compilation requests for BTC. PM if interested.

Lol !

By some accidence I saw the bounty and was going to claim it today even while I am in this thread for more than a month. But, first to come, first to serve
Anyway, next time when you have hard times with compiling wallets under linux you can just use my own python script, which need literaly inputing the Git URL and then is doing everything alone: https://bitcointalk.org/index.php?topic=498746.0

[waldistons]

Thanks for tips, everyone!

@pastet89 - I didn't had problems with Linux and compiling, I had problems with boost dependencies and they are not on Ubuntu officially (at least the versions this wallet use), so I had to compile boost from source as well but I will definitely check Your post out

EDIT: I have compiled some other wallets for myself and never had so much problems as with this one.