Quote from: GPU Coin on March 14, 2014, 01:24:54 AM

Quote from: illiki23 on March 13, 2014, 08:00:22 PM

GPUCoin team:

I am asking this again because I have not received an adequate response.

I am somewhat concerned about current plans for expansion including working with hardware developers to develop new splitters and working with the person who is making the frames.

It was clearly communicated that ALL IPO funds would be used to purchase GPUs.

Can you please alleviate my concerns that IPO funds are being used for expenses besides the GPU purchases? Can we get some more transparency? Can you show us some numbers?

If a single penny of IPO money is spent on things like experimental hardware development then I might want to move forward with getting a refund. From the website: "All sales of the initial pre-mined coins will be used to purchase GPUs to stock our on-line store."

Can we please confirm this is actually happening? It would take literally less than a minute for someone from GPUCoin to say: "Do not worry illiki, all IPO funds have been used to purchase GPUs."

I am assuming that my fears are just unwarranted and all the money did in fact go into a GPU wholesale purchase - but just wanted to double check. Transparency and communication is good in general.

I had the prototype rig built at a friends machine shop for free. It took two hours from showing up with a bunch of hardware to walking away with the rig in hand, and it was all left over metal from their previous job on a carrier. The splitters R&D costs are low, and I paid for them with my meager savings, which were for a SIG556 to accompany my P226, but decided that business needs were more dire than past time activities.

As I stated before, we can't purchase at wholesale costs from the manufacturer until we hit the $1,000,000.00 USD monthly revenue, so we have to pick and choose from 6 distributors that sell ASUS, 8 distributors and 5 sub distributors that sell GIGABYTE, and 10 distributors that sell MSI; all of which require paperwork just to get their costs, which most times are way too much. I still call the manufacturers most days to see if someone nice will put me through to a higher up, just in case.

The reason I'm not much in this thread is due to meetings, telephone calls, legal paper work, R&D and trying to coordinate with the devs about how to get the site prepared. Most coins are just that, coins; this is a business rolled up into a coin, so I'm sorry if I don't meet the conversational needs of the community, but it's quite a bit of work just trying to make sure some GPUs will show up in time for the store opening. There's a reason why Newegg was charging over $100 more than the ERP for a while.

Thanks for the update.

I'm sure most people understand that you are very busy setting things up, a quick post every 24/48 hours really helps to build confidence in this coin and keeps the 'scam mongers' away from the thread.

Hopefully you will get chance to read through the thread and take on board any suggestions that you think might benefit GPUC