Topic: [GPUC] GPU Coin | Mandatory Wallet Update - page 23. (Read 421398 times)

Coin Revival Foundation:
https://bitcointalksearch.org/topic/closed-576714

Yeah... diff is reasonable now too. I scored three blocks yesterday in about four hours, solo mining with 350 kh/s.

I managed to get the new wallet code to Bittrex.
I hope some devs or CEO will make announcements here soon,
because if not coin will be dead. Some consider it dead now,
but it is not since still 50mh on the net.

Meh... just hoping it gets back to at least 5 sat. Looks like it's time to bail at the first less-than-incredibly-lousy opportunity.

So incredibly sad... 

They jump ship already.

Any news from the GPUcoin camp apart from bad news 

Even if he is not bailing on the business, I agree with you that he has handled it terribly.  His lack of communication here and on the official forums has doomed this coin from the start.  Sucks as I believed it was a good idea and even invested in the IPO. 

It's actually beneficial for him to keep milking the cow while it slowly dies, IE, sending out products. This keeps diggers away from the truth, and potentially extends the length of the run into another bulk wholesale purchase of equipment. Whether it succeeds, or tanks tomorrow or tanks 3 months from now, he'll make off well.

Unless it tanks at a point where he has no stock, and in fact has absolutely nothing profitable from the venture. Because he's an LLC he's not required to provide any financial documents publically unless subpeaoned to do so in a court.

Glad to hear you got your product. The idea just came to mind when I was thinking about the situation.

I would be more inclined to believe that scenario if I had not gotten my last order (placed on 11th, received on 16th).  I didn't received a order confirmation or shipping confirmation either, so will admit I was little concerned until it showed up.  Hearing there are people who ordered around same time who have not gotten anything though, does make me believe your scenario might be a possibility.

While this is purely speculative, it is possible he never intended the business to succeed at all, or more likely, set the business up for him to profit even if it failed. Examine these elements and decide for yourself:

The overall view:

1. Register an LLC, which is 1 sheet of paper sent in the mail, doesn't require insurance or anything professional. This makes it seem safe.
2. Declare you're making a business-based coin
3. The business model: The coin will be used for a high value product
4. Ways to get coin: Buy, Mine or provide BTC for IPO
5. IPO solely for exchange of certain amount of coin, and small overhead (website, etc)
6. Ignore lots of great business advice; explain how you'll make profit regardless of value of coin
7. Emphasize you need more and more BTC for the IPO to stabilize matters
8. Get things running
9. Ship product, people are happy

Seems legit, afterall:

** If business goes well, he makes money, and everyone is happy **

However, if it doesn't go well:

1. If it tanks (due to lack of interest, market shift, BTC drop, or the owner disappearing magically, etc), he still legally owns the stock and the BTC
2. Not liable to provide refunds beyond the IPO phase
3. Can dissolve the LLC and walk away with the 'free' loan of BTC / USD / Equipment

The community is left holding empty bags, essentially through a legal scam. You'd have to prove his intent was nefarious for it to be illegal.

Again, all speculative, but the pieces are there. Nowhere that I can recall did he say he would provide refunds to the IPOs or offer the community the chance to get dirt cheap equipment, in the event he tanks.

What does everyone think?

Elvis has left the building. Fade in Background score. End credits rolling 

You could contact hendr1x and see if he will pass you Jaymes' phone number, and call him to see what's up.

280x, don't remember the exact price, something around 5-7 mil iirc.

Interesting coin. Too bad I am new and cannot join.

Thanks for filling us in. This is horrible news to hear, what card did you buy and for how much GPUC?

Still haven't received the card, still no answer from the store.

I saw him driving around town in a new BMW 6 series, he's alive.




Naw JK, I have no idea. Last we heard he was dealing with family issues. Some GPUC customers reported they received their cards, but others who ordered 10 days ago have said they haven't. Would be nice to hear updates from them.

He died from bullet wounds in a shootout with his family.

Is there any news about Jaymes Reilly?

lol dunno bout you guys but ive been easily selling at 3-4 satosi. if everyone held the price would rise.anyone thinking any coin is a simple get rich quick scheme is highly misguided