Topic: [GPUC] GPU Coin | Mandatory Wallet Update - page 30. (Read 421398 times)

I'm familiar with what you're talking about, as I quoted part of it in my thread threatening legal action. If you remember, this coin went through.. 3 or 4 launch attempts, in 2 phases. At the outset he stated how IPO funds would be to purchase GPUs to stock the store with. This was prior to initial launch. That first launch failed miserably as predicted. He then tried another launch a few days later which also fell on its face.

Upon realizing how epic his failure was and the fact he sucks at management, he had to hire a new team. He then stated he would use part of the funds for this measure, and that an IPO could get out if they wanted out by simply submitting an email. Why is this? Because of the failure to launch properly as was in the terms, and the slight term change. There was a 5 day window for this I believe, during which I got out along with some others.

Phase 2 had 2 more launches which were soft launches which finally went proper, one was the wallet generating low value blocks, and the next was a day later when the system went live. A good move by the devs I might add. At this point, IPO refunds had been processed, most of the 70 GPUs had been purchased (I believe it was around that number), and the new (3rd) dev team had been paid.

If you re-read the first... 200-300 pages of this thread, you'll see all of that.

Now, once again, here's the thing. He offered a product in exchange for BTC. This is the legal transaction being agreed upon, you're agreeing to take GPUC for the exchange of BTC. The swap was made, the transaction is considered complete. Even if he fudged his repurpose of the BTC, it wouldn't matter because in VA's eyes, it's "HIS BTC" once the agreement was fulfilled for the GPUC/BTC.

It would be like Walmart saying they're going to support The Unicorns and Rainbow Foundation with their profits if you buy TVs from them, but then they decide to take 2% for themselves instead of use all of it, after you buy TV's. It doesn't matter.

Unless you're listed on his paperwork as a partner of interest or a managing business partner, he did nothing wrong because you have 0% interest in company funds.

I'm confident that at some point your hopes and emotions will die off and reality will sink in. You stayed in an investment which senior members bailed on when they saw it was going belly up, and saw that someone incapable of managing, was in charge. And here's your reward.

Best of luck.

Where is the updated wallet? It doesn't seem to be updated in the main thread. If there is an updated wallet, this needs to be advertised in the 1st posting of this thread and also clearly available and described on the main GPUCoin website and store.

Sorry, wrong thread.

[/quote]

I am specifically talking about the IPO investor page from the GPUCoin website which has now been removed.

It CLEARLY stated that ALL IPO funds were to be used to purchase GPUs.

I know this for a fact because I read it and many times and having been thinking about it for weeks.

You are bringing up the wrong document, are you trying to cover up something? 

A guest written article by Pastet89 :

http://www.cryptoarticles.com/crypto-news/2014/4/15/the-dawn-of-gpucoin-by-pastet89

For some reason the market place is not displaying my listing. It shows up in my account Market tab, but thats it. If im not mistaken, isn't hendr1x in charge of web related issues?

Because volume of $ 420 per day ( http://coinmarketcap.com/2.html ) - this coin is dead!

The store is running, the miners are mining, the trading is going on. Why it should be dead?

Is this coin still alive?

We have submited an article to CryptoArticles.com !

I choose the R9 290 3~6,I think it works useful and cheep.

Hello guys whats going here?

I have been here from the beginning and I love this coin I'm still mining, dev and hendrix we need you guys dont let it die!!!

the best option imo is to use someone like wemineall.com mining the most profitable coin, auto exchange for btc, then buy gpuc with btc.
i've been playing around with xpm mining on gpu and make slightly more money that route. but ypool is so slow for payouts. been waiting 24hrs to even see their auto payout push over. so thinking i may just stick with wemineall

Oh no, I wasn't suggesting that we change the coin to POS.
I just thought that having a multipool do what I am already doing would help increase the value easily. More of a convenience for me and possibly others. I just keep having to do the math to figure out if it is better to mine GPUC or mine something else to convert. Not sure how many people bother to go through all the steps. There is a demand for me and that is all that matters. 

I am holding the coin to buy a GPU (was almost able to get a 280x a couple of times because of price increases ).

I don't think multipool will help us unless we go full POS.. and even then.  Multipools are successful for target coin because people want to *hold* the coin that they mine.  That means demand... with GPUC they can already mine GPUC directly.. and even then there's still a lack of demand vs supply. 

Converting to POS is possible.. but it would be very difficult at this point.. looking at an entirely different code base but still need to hack in existing block chain.  Could work.. i might look into it...

 It looks like Faircoin (https://bitcointalksearch.org/topic/ann-faircoin-multipool-best-investment-with-5-extra-fac-for-each-payout-563294 and http://fair-coin.info/multipool) is doing this but you cannot mine the coin. The interesting thing is they are using wafflepool to do it. If this is something we would like to do maybe someone could talk to them (wafflepool). However, wafflepool does not do scrypt-n so we would never be mining GPUC and would have to rely on other miners for increasing the hashrate.

+1.
And I know other non-POS coins considering this idea as well.

The advantage is that you will always be mining the most profitable coin and getting GPUC in return while simultaneously increasing the price of GPUC. This would be a force to drive up the profitability of our coin and keep it at the top of coinwarz (and other sites) which should draw interest. Well that's the idea anyway.  

shocking MR. FUD posted again.
this is the original posting, nothing was ever said it was ALL going to gpus
if you continue to post about this, i will back track every last one of your FUD posts and report each one. i'm sick of seeing you cry about some BS you made up.

[/quote]

I still have the IPO details in an email somewhere.. I'll see if I can find it, but I can assure you that's not how it was setup. The IPO was to start up the business, by getting the first batch of GPUs, paying the developers, and all startup costs and maintenance fees (which can include holding some back for next month if necessary).

Everyone here has recalled it in that fashion, except you. I'll go out on a limb here and say that perhaps your recollection of the situation is marred by how you want it to have gone down.. because unless even the folks who are on his payroll got it wrong (which is.. highly doubtful), it would seem you're getting it wrong.

Also since the GPU purchase was the primary usage of the funds, Virginia would basically be like "so.. did a bulk of the funds go to this? Ok cool, later bro".


...and to fund the startup.


We can all agree on that, even the devs.