Topic: [GPUC] GPU Coin | Mandatory Wallet Update - page 239. (Read 421421 times)

Yes... extremely safe to assume 

can i safely assume this is dead? no launch time??

Pump and dump happens because the products at hand have no real value, and everything just rides on pure speculation. Fiat runs solely because people accept them for goods and services. The Ugandan Shilling may have value in Uganda, but even a million of them is not worth the paper they're printed on in US, because the holder of those notes cannot exchange them for goods or services. He has to sell it to the greater fool who thinks he can do something with the new purchase. Crypto is just like the shillings in US. There is the long winded route of xcoin -> BTC -> USD/local fiat for most coins... and fiat is the end goal, because that is the usefull stuff.... its what paid for your rigs and electricity bills.

A crypto cannot find a way to prevent dumping. The consumers would have to start accepting them for stuff. I think BTC became popular (and hyped) because articles came out that people bought pizza and houses with BTC, and that if you went deep enough the rabbit hole, you could even hire assassins to take out your cheating ex and pay them with BTC. The speculation and the "holding on to it as investment potential" came later, and the price crash happened when the "investors" far outnumbered the "users".

GPUS is certainly going in the right direction by stimulating the growth of "users" and also converting "investors" into "users". I think once the store is put up, its going to be immune to pump and dump, even if the price is higher that the converted equivalent of BTC ->USD. Maybe its an emotional thing (you can never underestimate that little factor), but mining for a coin and then purchasing a better mining tool with the proceeds is a kick in itself.... like upgrading your race car engine with winning from your previous race 

Yeah, we need to constrain the markets and put limits on this new innovative technology.... yeah. Seriously! Can you hear yourselves?

The reason that the fractious freak show of altcoin spew is happening right now is that people are capitalizing on the trend - if it pumps and dumps it is because it has no utility other than lining someone's pockets.

There are notable exceptions in the form of actual innovations within the altcoin 'verse which I will not recount..... other than to say that GPUCoin has the potential to be another first in that a real business is launching its own coin as it launches the company (kickstart by altcoin) and will accept its coin in its store. First movers gain network effect advantage. If they execute well on their business plan then they may just capture the sentiment of the community and scale the concept to be something much more than their initial vision.

yeh, its a shame that exchanges wont allow a coin value to only drop by a set amount each day. it would atleast help slow the huge price drop issues

That's always the problem with crypto's.

by pump and dump i mean what we usually sell.

Lowest selling value is 0.001
i will under cut it at 0.0009
hmm i will undercut that at 0.0008

the value gets lower and lower and within a few days the coin is worth nothing.
we have seen this a lot lately with things like maxcoin etc.

If the price is too low, gpu's will need a lot of coins. people will get fed up of waiting to get enough coins as it gets hard and just dump them. making it even harder to get a gpu for everyone else as the price drops. See what i am getting at?

Take bitcoins as an example. their worth a lot of money so people sell them for around the same amount. a week or so ago someone decided to sell them for much lower then everyone else. People panicked and sold their cheap. It dropped bitcoin value down a huge amount, to the point where we are still seeing the aftermath with the value at only $600

hell when the market was manipulated you could buy bitcoins as low as $106

if everybody use only their gpucoins to buy only gpu's, they won't have any value at all. (since the ceo won't be able to buy gpu with real money). So some pump and dump is needed to set a value indexed to the btc.

thats exactly what i am getting at. If there is no market control the coin will tank.
if people pump and dump or not, their would be losing money so its in their best interest not to

I know what you mean, but it will take so long to mine enough coins its not worth doing
If the market price was based on the value to gpu price, if the seller charges more coins, then sells them at a higher rate then he will trade them for, he would gain extra from his purchase, keep things running

it is a difficult concept but until a cryptocurrency finds a way to prevent pump and dump, no coin will truly stick around

But that would drag him into bankruptcy. As time goes forward, the number of coins will increase in the world along with greater difficulty in getting those coins. If the prices were locked to a certain amount of GPUC, then essentially, that is stopping the GPUC from fluctuating dynamically. A point will come where it will be deemed too profitable (a steal) to just purchase GPUC with USD and then purchase the cards using the GPUC. That's great for the buyer.... but how is the seller going to procure the cards? He needs to purchase them with USD, and the GPUC he has will eventually be lower in value than the USD he paid for to get the card.

The business model will come to a halt within a month if the price is artificially regulated like that.

Yes there would be a price, and you can buy the GPU's for GPUcoin only i believe
There will be a market, and fair enough that the CEO should charge a higher amount then their traded for, this will always happen.

but market manipulation is a thing, if coins are sold for a reasonably similar price then the price will stay about the same. Bitcoin proved it easily possible for someone to sell a large amount of coins for a much lower value and drag the price down

I think it would be a neat way to maintain value in the coin.  If you set the price of a GPU at say 100000 gpuc.  Then they will maintain a value (after initial purchases by IPO or whatever) of around there.  So if that GPU is $500 then the coins are a value of $.005 each.  I think there are benefits to this in that the value of the coin will not ever really tank, but it also means that the value will not ever really go up.

  Just spitballing here, any thoughts guys?

  Phad.

i hope its not just limited to gpu we can buy in the future w gpucoin. like tie it on other products maybe 

I may be missing something here, but if you can only spend GPU coins to buy GPUs from GPUCoin, where do your GPUcoins go once GPUCoin CEO has them? Surely GPUCoin then sells their GPUCoins back to us to buy more GPUs? xD

What i mean is, if the owner states he will trade a 280 for say 150k GPUcoin
would you sell them for less? that is less then $400 for 150k GPU coins

its a theoretic amount, and may not be possible your right, but unless coins start to so something, no coins will stick around. The only reason dogecoin is sticking around is that its being given away constantly. Right now 200k coins is worth about $60
that is if people buy at the 1million coins for 0.5BTC amount

if its not managed some how, this coin could end very quickly, like many other coins we have seen recently that have all crashed and burnt
The entire reason most coins die is those that pump and dump. Which yes there will always be some but to those of us that have been doing this a while, selling is bad for the coin, that is selling below the current price and constantly trying to undercut

I don't think that is even remotely possible. The market value is decided by the hordes rushing in or jumping out of the bandwagon. How many GPUCoins a dollar make will constantly fluctuate. And since the physical GPUs are tied to a dollar value, the price for the GPUs too will be ever fluctuating. You cannot artificially set a market value (like minimum wage) and stick to it like unions.

yes yet still makes the entire market cap for the coin tiny, at just $5.7M
almost a 10th of what dogecoin is worth

per my auction results so far these coins are worth almost 3x the IPO value...

i think the price should be relatively high, but need calculating
as there are 13.5 billion possible coins, how many gpus do we want for that?

or should we set a price say $100 is x amount of coins
what every the CEO bases the coin to gpu price at is what the coins should sell for as who is going to sell them for less then what the owner will give you?

so if we said 100k is $100
the net value for all the coins would be $13.5M

which seems low, so if you said that 50K is $100
the net value for the coins would be $27M

As a comparison, dogecoin has a current market cap of $ 57.9M
so in theory the actual amount of coins for $100 would need to be 25k, and the cap would still be less then that of dogecoin

so i think we need to set a market value and stick to that

at 50k per $100, 50k would be worth about 0.15BTC
Ooo and the premine would be worth about $1.34M


EDIT

By the way, to the IPO's selling at 1million for 0.5BTC
following that price the entire value of every coin would be $4M

doesnt seem right does it? ;-)

10 coins when a block contains 20k coins lol, I think the CEO would fill for bankruptcy in a very short delay... unless he convinces his distributors to accept gpucoin as payment (which in turns would have to convince all america to use it... and so on... ). Might happen, who knows, but not next week.