Topic: [GPUC] GPU Coin | Mandatory Wallet Update - page 235. (Read 421426 times)

Sounds like a good plan, but PLEASE
make sure the 20,000 GPUC blocks will
start as planned on SUNDAY BETWEEN
3PM and 5PM Eastern.  No one wants to
be up at 4 am again Monday morning
seeing if everything is OK when the
real 20,000 coin launch is. And we also
don't want it to accidentally kick in
Sunday at 4 am!

See now this is where it changes. For me in the UK, i would be better to sell my coins to BTC and buy direct from the UK with BTC. This is because of import duty and shipping costs. But i would still be using the coins to buy GPUs

So exchanges would be good for me personally, but then its how to sell the coins for BTC without dropping the price of the coin because of exchange undercutting. So would it be easier to trade directly with someone? keep the coins off the open market and prevent the price being dropped. But then it comes down to trust also

this is where i think the coin forum might come in handy for direct trades between people. obviously not as secure as an exchange however

i think as long as the store is connected to an exchanges API and tells us the going rate for the GPU in GPUC (get GPUC/BTC price, then BTC/USD) it will work out great

I took micryons suggestion and wish to put the wallet out Saturday to allow the network to ramp instead of hitting a wall of traffic.  This should alleviate all prior issues and provide the proper launch.  I will be updating the OP with block countdowns to inform everyone when the 20,000 GPUC blocks will start.

I took micryons suggestion and wish to put the wallet out Saturday to allow the network to ramp instead of hitting a wall of traffic.  This should alleviate all prior issues and provide the proper launch.  I will be updating the OP with block countdowns to inform everyone when the 20,000 GPUC blocks will start.

It has 200+  pages because about 50 of them are broken pools spamming the thread about how awesome they are, 10 of them are people spamming/advertising other coins, and 130 of them are about how ceisure-inducing-mind-blowingly-fail the launch was. The remainder are on topic.

It has 200+  pages because about 50 of them are broken pools spamming the thread about how awesome they are, 10 of them are people spamming/advertising other coins, and 130 of them are about how ceisure-inducing-mind-blowingly-fail the launch was. The remainder are on topic.

Because it is a good coin and the community appreciate its distinct features of the coin. It is not just for pump and dump coin. It actually has a business behind it.

Future coins should have business + dev team not just dev, worse dev + scammer.

how can a coin with 2 failed launches have more than 200 pages? :-)

marketing? 

Thanks flaminius, very helpful.

There's something else to consider. Hypothetically: I'm a miner, and I want more GPUs. I don't mine GPUCoin, I'm into WhateverCoin. But I do know that I can buy GPUs for GPUCoin and save some serious cash. So I check the price of the GPUs to see how many GPUCoins I need. I go to Coinbase, buy BTC, go to an exchange, exchange BTC for GPUC, back to GPUCoins.com and buy my cards. A slight hassle, but if I can save $50 a card on 4 cards, totally worth it.

Now, did you see what I didn't have to consider in that process? The going rate for GPUCoins. In this scenario, which if GPUCoin can keep a decent stock, should play out all the time, I don't care if GPU coins are 22 satoshis or 22000. All I care is that I get $435 x 4 worth so I can buy my new cards.

To me, this is huge. All of a sudden you have a coin where people will be placing buy orders regardless of price, because they are going to spend those coins in 15 minutes. I'm pretty sure this is unprecedented in the cryptocoin world.

Coin launched went well but most if not all pools were down in the first 20 minutes of launch.

To me, this is huge. All of a sudden you have a coin where people will be placing buy orders regardless of price, because they are going to spend those coins in 15 minutes. I'm pretty sure this is unprecedented in the cryptocoin world.

In theory, the initial value of GPUC should be 71.51792382BTC / 325,000,000 coins (the IPO amount and the number of coins issued), for a value of 0.00000022 BTC per GPUC.

There will be  28,800,000 new GPUC mined every day (20,000 GPUC x 60 blocks/hour x 24 hours), meaning that the IPO holders have 11.28 days worth of coins at the outset.  This puts the IPO holders quite firmly in control of the value of this coin... anybody would be a fool to sell at less than cost, and they hold enough of the market share (still 50% of the market after 11 days) to be able to set a good sale price for GPUC.

As to actual value, as it stands right now, it sounds like the CEO was able to order 80 GPUs.  If we assume that he spent the entire IPO on them, that would leave each GPU worth 4,062,500 GPUC (325,000,000 GPUC / 80 GPUs) at most.

What happens to the value of GPUC once it hits market will be anybody's guess, but I would assume that as long as the IPO holders do not dump that the price will remain higher than 22 satoshis and GPUs will hopefully go for a couple hundred thousand GPUC instead of 4 million.

With its unique purpose of being used to buy GPUs, I don't think market cap or any other tool for comparison to other coins is useful in any way. At the end of the day, the only numbers that really mean anything are these:

How many BTC ('y') can CEO get for 'x' GPUC,
How much USD$ ('z') can CEO get for those 'y' BTC
How many GPUs ('g') can CEO get for those 'z' USD$
And fair market price = x/g (plus a bit of markup for the business)

The market will determine what it sees as a fair market price for GPUC, and the cost of a GPU in GPUC will fluctuate according to the exchange rates of GPUC/BTC/USD$, and I don't think there is any way to set a particular price point as long as those currency exchanges need to be made.

Really? It's lunch time already?

launch time?