Topic: [GPUC] GPU Coin | Mandatory Wallet Update - page 12. (Read 421398 times)

I have nothing to gain or lose from any of it. I pulled out of the coin entirely before it launched. What bias would I have? My opinion of his mismanagement hasn't changed, nor has my support or advice to those trying to make something of it.

I offered to help him if he wanted it--I didn't want to be a business partner, I just wanted to see the idea take off. I asked for no additional benefit for my help, I was going to provide services and support out of my own pocket just to see the coin take off.

I also offered more than just a farm. Everyone here complained about his lack of presence, the lack of products shipping (which still haven't shipped for some customers), nobody helping them out, nobody talking on the forum in an official manner, etc. I had offered to be that guy. Jaymes refused to talk to me. I don't hold a grudge against that because I had nothing to gain anyhow.

And when you have a business coin, you want to ensure no forks occur and that transactions are always being processed, regardless of anyone else mining the coin. This is why you have a dedicated mining network. Other business related coins have them. He didn't see the benefit.

And here we are today.


The coders were present always, but that doesn't help with the frontend issues which Jaymes held sole control over. He should've had someone helping him.

Try to go to your neighbourhood grocery store and propose the manager/owner money in exchange of partnership and you'll see what I mean...
You ignore the fact that some people still wants to own their business (meaning he never wanted a democracy...  )

How is that an argument at all? Who does not want money? And who wants to split the profits of his business?

It is a small business, not a major corporation... he wanted investors (well... donators) not business partner... (and the deal was pretty clear from the start... only some IPOer didn't understand it and thought they were business partner and had a say in the business decision)

For me the business model, in the way it has been implemented, is just not sustainable, because crypto market is too volatile.
This would have to be entirely rethought, gpuc should just be an incentive to buy stuff (eg: an extra discount) over something you pay in "real" money (fiat or btc). Otherwise the store just end up without any cash (like it did... )

Stockpiling GPU and selling all of them at once (or over a small period) was a very bad idea:
* It costs too much to the shop at once
* It needs to sell all its stock before being able to buy new merchandises (and since it also depends on selling gpuc... it is even worst,
I had predicted that in a post many many pages away... )
* It can't operate smoothly all year long since it needs to replenish its stock... meaning the store is just closed to business most of the time

I don't think a small business could do it because it doesn't generate enough cash flow (and a small doesn't have enough cash to keep up) to keep the business afloat. Amazon could (may-be, it isn't even sure) do something like that (they can get cheap products, they have enough money to react to problem... provided a benefit can be made at some point)

The consumer target (?) was not well defined. I mean only big farm (coin dumper) could get the coin, however those who were really interested in getting GPU and using that system were small miner who can't get enough gpuc to buy anything. (It is a comment I already made several time, which just usually gets ignored... so it will certainly be ignored once more  )
I must admit I didn't like at all micryon approaches of the coin which was against small miner from the start and which leitmotiv was only "protect the IPO holders"... I think, ignoring (small) miner is a pretty shitty way to design a coin (especially when you want to sell gpu).
 
Last point, I don't think versperwillow is unbiaised (or like foxnews  ) from what he wrote lately, I think he wanted to do a business partnership with Jaymes and got turned down, however I don't see how more mining farm would have helped.

Now, I must admit I never understood why the forum crowd was so much against the ceo. Sure he is not a big communicator, but micryon was present, Hendr1x and some others too... But even then it was never enough to satisfy everybody.
Seriously, when you buy stuff on Amazon, you don't try to contact Amazon CEO and make a scene because it doesn't answer (or try to propose idea to Amazon CEO...) You buy your stuff and that's it. Why it should be different here ?

But then again, unless you are China, mixing economic models is a no go.
If Jaymes wanted a democracy, he should have made a real IPO, where shareholders get a % of the profit and a % of the votes. 

Jaymes held votes to determine what the customer base wanted to purchase from the store, and stocked the store accordingly. He didn't just arbitrarily chose cards which were too expensive.

Of course. And as I said I doubt the IPO will succeed.

IMO if there are people willing to revive the coin and idea nehind it, (I see nice tech support in the face of micryon and ambitious and serious people like vesperwillow and waltsmith), if they or anyone is willing not to give up the whole story I am sure they will fail if they try to revive this coin, better then need to start from the begining. Who has better chances to bring nice reputation: a brand new company or let's say MtGOX? Think about it. This coin failed form the begining as there were 4 failed launches and even before it went live more than 50% of the initially excited followers left the thread and were not interested at all even after the shop opened. Vesperwillow was an IPO investor, but he made a very wise decision by withdrawing his shares and stating that he said that he had lost faith in the CEOs abilities to run further the business and he was right and I am sorry I didn't made the same in the begining. And no, versperwillow is not trolling the thread as someone stated as he is very negative to Jaymes, however, in the same time he is 100% neutral, not biased and right in his statements as he was protecting Jaymes as regard to the statement that he is not a scammer and he may be sued for not dislosing business information to IPO holders, which is also true.

But anyway. As I said my opinion is that in order this coin/business/idea to survive all needs to start clear from the begining with new coin and new business. Apart from the ruined reputation I will repeat again that Jaymes is holding maybe 50% of the coins in circulation and leaving them in his hands and revining the coin without him is even not an option to consider therefore.

Also here is the moment to ask the question how is this idea still applicable in the reality and was the idea to blame for the failure as well apart from Jaymes and me. To be more strict, the time of the implementation of the idea. As lots of people stated and I share their opinion that if this coin and business were running just 6 months in the past they would have been running really hot. However, currently, the GPU demand is going lower and lower and the GPU mining is decreasing its volume. At least for now. Until ASICs for scrypt arrive and the X11 coins explode in difficulty, demand and price as LTC did last year as opposed to BTC. Maybe it is wise to consider all that points and judge out the final plan for what, when and if to sell - ASICs, risers, GPUs, etc...

And I doubt this was a planned scam and Jaymes is a lier or scammer in the tight meaning of these words. As far as I came into contact with him my impression is that he is a really honest person, but is extremely incompetent in business, arrogant, not listening to advises, and which is worst, refusing to see and accept his own errors, take notes of them and appologize for them.

A new IPO would make it a ponzi scheme (since you need to inject new money to pay the previous IPOer). It would be a schoolbook ponzi scheme

+1.

The coin is alive as a coin. The problem is the business behind it. If the business can not be rebirth the coin will not revive. The only way is a new IPO, however I doubt people will trust again and invest.

How much did he get during the IPO?

Wow, that sucks. I was hoping this coin made it big.

Don't forget to mention that the original owner of the coin must still have some 100's of millions (+ those he got from the GPU sells).
GPUC is just a big time bomb if it gets revived...
I mean you want to work against other scam coins... you should state that clearly before anyone else put some effort in it.

Too bad only one person knew about the exact business model and that person did not do his homework just about right.
There is no problem with the coin itself, the problem is with the ideology behind it.

If somebody wants to revive this coin, I suggest that they start selling extenders and power cables trough the store... like a whole lot of it. People will be happy that they can actually get something for their millions of coins and you will be happy, because the coin wont die just yet.
This way you will be able to clear up the millions in reserve, held by the community and eventually, after a long long time, accumulate enough resources to start selling expensive things again.
 
Imo, jumping on R9 280x was one of the first mistakes in this coin.
If you open up a car shop, you dont start selling Feraris and Mazerratis right away, you start with the cheap crap and expand from there.
Now, if only those werent IPO money... perhaps then the creator of the coin wouldnt have been so quick to jump on the expensive stuff...
Once again, IPO fails in the long run

Cheers to micryon and hendr1x, I think that you two should start an initiative together. Whatever it is, it will be a lot more successful than this.

Well as the coin dev.. I'm still around, and have been updating the code with all necessary patches, security or otherwise.. Of course if you guys have some new contributions would always love to have it...


GPUCoin is in a weird situation, not like other coins.. precisely why it interested many of us.. for these other coins, it's 100% about promotion, and generally some statement about using the coin for something or other...

GPUC was something that actually had a business model associated with it.  It's too bad that part of it failed.

I wouldn't count the front-end out though.. hendr1x still around i think..

The bigger problem is that there's no strategy or new business plan.. there's no angle right now for this coin.

So agree I'm not sure how the revive guys can do much with it...

So, basically, you have no idea?


The coin does not really need any of this, although other coins might actually do.

The problems with this coin are
1) that the front end died
2) nobody had an idea how to make a successful cashflow

Basically the economy behind the currency failed. You can not fix an economy with software updates, man. Updating wallets and bitcointalk threads wont result in a flow of GPUs to buy with GPUcoins. If you are not going to revive the store (by either investing your own money, IPO or liquid magic) you might aswell just leave this coin to die and focus your efforts somewhere where you can make a difference.

I am not saying that what you are doing is negative in any way, I am just saying that selecting GPUc for a Revival was a bad choice.


Whats with the "we" again? I think that you have done enough for this coin.

Well something must be done, that's for sure. I say go for it.

Well, the funny thing here is that the dev will jut not tell anything. He does not talk as usual. Maybe he will come back at the forum a month later ago as he does it accidently to throw some information without even reading what is happening in the community as he is interested only in himself. Then if he mention that the coin is not existing anymore as such he would be realy surprised. And as for asking I will say again, if you accept the lack of official refusement and communication for a green light to proceed - go ahead.  

If the dev is against it, we will not do so. Another option is to see if we can help him out with some things. A lot of people voted to elect the coin, so there is obviously something that needs to be done.