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Topic: [GPUC] GPU Coin | Mandatory Wallet Update - page 30. (Read 421411 times)

hero member
Activity: 616
Merit: 500
You are bringing up the wrong document, are you trying to cover up something? 

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.
newbie
Activity: 39
Merit: 0
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.
sr. member
Activity: 392
Merit: 265
Sorry, wrong thread.
sr. member
Activity: 602
Merit: 295
Hail Eris!

Yeah.. but he kindof did. The primary trade was BTC for IPO of GPUC, and nothing more. Did you receive your GPUC? If yes, then that's all she wrote. This subject is now at an end.




That was not the deal though.

The deal was I traded BTC for GPUC based on the guarantee that all IPO funds would be spent on a batch of GPUs.

This clearly has not happened since at least twice someone representing the coin has let slip that the IPO money was also going to other things like marketing and such.

You are saying I can tell a person that if they buy my coins I will promise do X and then have no obligation to do X?

And no.  I don't want to drop it. I believe I have been stolen from because GPUCoin did not fulfill their end of our agreement.

It was clearly stated in the IPO investor page, which has now been removed, that ALL funds from the IPO would be spent to purchase a bulk order of GPUs.  

The primary trade had a number of conditions that were not fulfilled.  I want my coins back. I will continue asking for a refund until it is proven that he fulfilled his side of the arrangement.  I have the right to complain.  Feel free to ban me from this thread if possible.

edit:  And I just don't like Jaymes.  I think he ruined this business.

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



www.gpucoin.net
IPO Investing is available on the web page
Launch date is March 02, 2014 at 5PM EST

PoW Algorithm: Scrypt
Retarget: Every block using KGW
Block Time: 60 seconds
Initial Block Reward: 20000
Max Supply: 13.5 billion
Block Halving Rate: 250,000

Premine
250,000,000 for IPO
150,000,000 for bounties and payment for future development


Short Term Goals:
On-line Store Front:
Approximately two weeks after the coin launch we will be opening our on-line store that specializes in keeping a large stock of GPUs that will only be available to be purchased with GPU Coin. The two week delay is to ensure that the coin prices have settled. Our sister company already has access to two distributors and has submitted applications for two others to ensure they have access to the best prices available. Our goal it to provide all of our GPUs at aggressively low prices and keep a more reliable stock on hand so that we are never back ordered. We have a phone line ready as a contingency plan to start taking orders at the two week point if the automated on-line store front is not ready in time.
As an example, we have access and can sell ASUS R9 290X cards at $650.00 USD shipped to continental US while the normal going rate is $699.99, which doesn't even include shipping.

Wholesale GPU Purchases:
We currently have access to distributor prices, but wish to provide further savings to our customers. Our sister company is currently applying for wholesale of the following companies: MSI, XFX, Sapphire Tech, PowerColor, ASUS and GIGABYTE.

Long Term Goals:
65nm 50MH/s Scrypt ASIC Development:
We are currently in preliminary negotiations with companies in the USA and France for development of a 50MH/s mining rig. We have a meeting with multiple angel investors planned for March 23rd, and if funding is received we will sign a contract with one of the companies and start development ASAP. We will only be selling the ASIC rig through our on-line store, which will accept GPU Coin exclusively. We have estimated our initial offering to be $30,000.00 USD equivalent of GPU Coin.


Downloads:
Windows Wallet: Coming Soon
Mac Wallet: Bounty
Linux Wallet: Coming Soone
Source Code: Coming Soon
Online Wallet: Bounty

Configuration File:
Coming Soon

Block Explorer:
Bounty

Exchanges:
Coming Soon

Pools:
Coming Soon

Faucets:
Bounty
[/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? 
legendary
Activity: 1596
Merit: 1010
member
Activity: 120
Merit: 10
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?
member
Activity: 62
Merit: 10
Is this coin still alive?
The store is running, the miners are mining, the trading is going on. Why it should be dead?
Because volume of $ 420 per day ( http://coinmarketcap.com/2.html ) - this coin is dead!
sr. member
Activity: 392
Merit: 265
Is this coin still alive?
The store is running, the miners are mining, the trading is going on. Why it should be dead?
full member
Activity: 127
Merit: 100
Is this coin still alive?
sr. member
Activity: 392
Merit: 265
We have submited an article to CryptoArticles.com !
newbie
Activity: 54
Merit: 0
I choose the R9 290 3~6,I think it works useful and cheep.
newbie
Activity: 35
Merit: 0
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!!!
full member
Activity: 126
Merit: 100
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...

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.  Grin

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

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
newbie
Activity: 42
Merit: 0
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...

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.  Grin

I am holding the coin to buy a GPU (was almost able to get a 280x a couple of times because of price increases Smiley ).
full member
Activity: 154
Merit: 100
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...
newbie
Activity: 42
Merit: 0
um, okay. I can see that the dialogue on here has turned for the worse. On that note can we get back on track trying to help our coin?

waltsmith

My first post, woohoo! Do we have someone in the community that it has the knowledge and drive to put something like this http://blackcoinpool.com/ together for GPUC? Having a multipool payout in GPUC would increase the price and do what a lot of people are doing anyway by mining profitable coins and buying GPUC. I know I would use it maybe others would too. Heck, whoever develops it could market it to other coins as well. But GPUC first! lol
I have been here from the beginning and I am still excited about this coin. I hope the R&D is still going on. I would love to have a few of those PCI-e splitters that were hinted at since I can’t seem to find them anywhere. It would be great for the coin if we had something that was not easily found anywhere else (with some demand, of course). I guess I need to post the question. Is the R&D still happening?
Like many here, I also believe marketing will help but if we can drive up the price I think that would go a long way. I know I have found other coins by the profitability alone.
Having a welcoming community is always a plus to get people to stick around and contribute.  Thanks waltsmith for your efforts.


That sounds awesome !

Devs, can you do sth about this?
except that it is a coin you can already mined (unlike blackcoin), you don't need a multipool to get your gpuc...

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

 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.
sr. member
Activity: 392
Merit: 265
um, okay. I can see that the dialogue on here has turned for the worse. On that note can we get back on track trying to help our coin?

waltsmith

My first post, woohoo! Do we have someone in the community that it has the knowledge and drive to put something like this http://blackcoinpool.com/ together for GPUC? Having a multipool payout in GPUC would increase the price and do what a lot of people are doing anyway by mining profitable coins and buying GPUC. I know I would use it maybe others would too. Heck, whoever develops it could market it to other coins as well. But GPUC first! lol
I have been here from the beginning and I am still excited about this coin. I hope the R&D is still going on. I would love to have a few of those PCI-e splitters that were hinted at since I can’t seem to find them anywhere. It would be great for the coin if we had something that was not easily found anywhere else (with some demand, of course). I guess I need to post the question. Is the R&D still happening?
Like many here, I also believe marketing will help but if we can drive up the price I think that would go a long way. I know I have found other coins by the profitability alone.
Having a welcoming community is always a plus to get people to stick around and contribute.  Thanks waltsmith for your efforts.


That sounds awesome !

Devs, can you do sth about this?
except that it is a coin you can already mined (unlike blackcoin), you don't need a multipool to get your gpuc...

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.  Smiley
+1.
And I know other non-POS coins considering this idea as well.
newbie
Activity: 42
Merit: 0
um, okay. I can see that the dialogue on here has turned for the worse. On that note can we get back on track trying to help our coin?

waltsmith

My first post, woohoo! Do we have someone in the community that it has the knowledge and drive to put something like this http://blackcoinpool.com/ together for GPUC? Having a multipool payout in GPUC would increase the price and do what a lot of people are doing anyway by mining profitable coins and buying GPUC. I know I would use it maybe others would too. Heck, whoever develops it could market it to other coins as well. But GPUC first! lol
I have been here from the beginning and I am still excited about this coin. I hope the R&D is still going on. I would love to have a few of those PCI-e splitters that were hinted at since I can’t seem to find them anywhere. It would be great for the coin if we had something that was not easily found anywhere else (with some demand, of course). I guess I need to post the question. Is the R&D still happening?
Like many here, I also believe marketing will help but if we can drive up the price I think that would go a long way. I know I have found other coins by the profitability alone.
Having a welcoming community is always a plus to get people to stick around and contribute.  Thanks waltsmith for your efforts.


That sounds awesome !

Devs, can you do sth about this?
except that it is a coin you can already mined (unlike blackcoin), you don't need a multipool to get your gpuc...

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.  Smiley
full member
Activity: 126
Merit: 100

Yeah.. but he kindof did. The primary trade was BTC for IPO of GPUC, and nothing more. Did you receive your GPUC? If yes, then that's all she wrote. This subject is now at an end.




That was not the deal though.

The deal was I traded BTC for GPUC based on the guarantee that all IPO funds would be spent on a batch of GPUs.

This clearly has not happened since at least twice someone representing the coin has let slip that the IPO money was also going to other things like marketing and such.

You are saying I can tell a person that if they buy my coins I will promise do X and then have no obligation to do X?

And no.  I don't want to drop it. I believe I have been stolen from because GPUCoin did not fulfill their end of our agreement.

It was clearly stated in the IPO investor page, which has now been removed, that ALL funds from the IPO would be spent to purchase a bulk order of GPUs.  

The primary trade had a number of conditions that were not fulfilled.  I want my coins back. I will continue asking for a refund until it is proven that he fulfilled his side of the arrangement.  I have the right to complain.  Feel free to ban me from this thread if possible.

edit:  And I just don't like Jaymes.  I think he ruined this business.

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



www.gpucoin.net
IPO Investing is available on the web page
Launch date is March 02, 2014 at 5PM EST

PoW Algorithm: Scrypt
Retarget: Every block using KGW
Block Time: 60 seconds
Initial Block Reward: 20000
Max Supply: 13.5 billion
Block Halving Rate: 250,000

Premine
250,000,000 for IPO
150,000,000 for bounties and payment for future development


Short Term Goals:
On-line Store Front:
Approximately two weeks after the coin launch we will be opening our on-line store that specializes in keeping a large stock of GPUs that will only be available to be purchased with GPU Coin. The two week delay is to ensure that the coin prices have settled. Our sister company already has access to two distributors and has submitted applications for two others to ensure they have access to the best prices available. Our goal it to provide all of our GPUs at aggressively low prices and keep a more reliable stock on hand so that we are never back ordered. We have a phone line ready as a contingency plan to start taking orders at the two week point if the automated on-line store front is not ready in time.
As an example, we have access and can sell ASUS R9 290X cards at $650.00 USD shipped to continental US while the normal going rate is $699.99, which doesn't even include shipping.

Wholesale GPU Purchases:
We currently have access to distributor prices, but wish to provide further savings to our customers. Our sister company is currently applying for wholesale of the following companies: MSI, XFX, Sapphire Tech, PowerColor, ASUS and GIGABYTE.

Long Term Goals:
65nm 50MH/s Scrypt ASIC Development:
We are currently in preliminary negotiations with companies in the USA and France for development of a 50MH/s mining rig. We have a meeting with multiple angel investors planned for March 23rd, and if funding is received we will sign a contract with one of the companies and start development ASAP. We will only be selling the ASIC rig through our on-line store, which will accept GPU Coin exclusively. We have estimated our initial offering to be $30,000.00 USD equivalent of GPU Coin.


Downloads:
Windows Wallet: Coming Soon
Mac Wallet: Bounty
Linux Wallet: Coming Soone
Source Code: Coming Soon
Online Wallet: Bounty

Configuration File:
Coming Soon

Block Explorer:
Bounty

Exchanges:
Coming Soon

Pools:
Coming Soon

Faucets:
Bounty
[/quote]
hero member
Activity: 616
Merit: 500

Yeah.. but he kindof did. The primary trade was BTC for IPO of GPUC, and nothing more. Did you receive your GPUC? If yes, then that's all she wrote. This subject is now at an end.


That was not the deal though.

The deal was I traded BTC for GPUC based on the guarantee that all IPO funds would be spent on a batch of GPUs.
...
You are saying I can tell a person that if they buy my coins I will promise do X and then have no obligation to do X?

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".

It was clearly stated in the IPO investor page, which has now been removed, that ALL funds from the IPO would be spent to purchase a bulk order of GPUs.

...and to fund the startup.

edit:  And I just don't like Jaymes.  I think he ruined this business.

We can all agree on that, even the devs.
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