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GPU Coin LLC now has no money and owes the bank $1500(should have never signed up for the business credit card). I originally bought the R9 280X cards for $472 each from a distributor since they were the only people who had any stock of any graphics cards, most likely due to their over inflated prices. The 270 and 240 were also bought at slightly above market value at the time. Shipping charges (including materials) averaged $27 for each item sent due to many international orders. I was selling at a loss thinking that the pre-mined GPUC and the inherent quality that most crypto coins are deflationary would make losses much smaller or negate them entirely. Then all the gpu prices across the web came crashing down and BTC dropped down real low effectively snubbing the market. The 8 way splitter I hired a company through e-lance to create cost me $4500 and it still has another 2 months of development before the milestone for delivery is completed. There were also various lawyer fees and legal documents I had to pay for just to set up the business end. The grand sum of the endeavour that I now have the 2 R9 270s and 20 R7 240 cards that I saved for the signature contest which I still need to front money to ship and now hundreds of millions of GPUC that there is no way of cashing to buy more stock. My private mining rigs have been churning away at other coins and dumping BTC to the Mintpal vote in hopes that this business venture could be saved, but with a lack of funds and essentially no stock, there seems like nothing I can think of to bolster this coin.
If there is anyone in the community that can think of anything that may help this coin, please come forth and share. I currently work two full time jobs to cover my sisters rent and my own so she doesn't have to worry about any more shootings, so my free time is limited, but PM me and I'll try my best to fix this situation.
If there is anyone in the community that can think of anything that may help this coin, please come forth and share. I currently work two full time jobs to cover my sisters rent and my own so she doesn't have to worry about any more shootings, so my free time is limited, but PM me and I'll try my best to fix this situation.
Update:
This last week has had my attention drawn quite away from this coin, as some important real world issues have come into light. My sister, who has two kids under the age of 1, just had her 2005 4Runner shot up with an automatic weapon in front of her house. There have also been three murders this last week, so I now have 2 jobs and have moved her out of Lake Edwards, VA Beach. This whole time I have still been sending out out cards and running the business side accordingly so that miners can get the items they purchased in a timely manor. Here are answers to questions people have posted recently:
Fiat into GPUC:
There has already been a page written up about hot to purchase GPUC with USD and bank accounts have been started at BB&T and Bank of America with the intentions of allowing people to directly deposit fiat and receive GPUC. I am also looking into Western Union payments. There are only a couple small logistics issues to deal with before it can go live.
Coin Update:
Micryon did not changing any specs of the coin, just the first block halving time and security updates.
Dumping:
I have yet to sell a single GPUC on the market due to the fact that I care very much about this coin and wish to see it succeed. The GPUs at the store front are all being sold for a loss, which is made up with the initial pre-mine, so the community gets great prices on the cards they want. All of the current cards are being bought with the IPO money and some of my own.
Mintpal:
I do very much hope we get on Mintpal as it is a trusted exchange. GPUC was trading at $10k a day before CryptoRush crashed, so it's obvious that this coin has potential, we just need a way to freely trade. My mining rig (a measly 5Mh) is currently dumping all it's profit into the Mintpal vote and I used the last of the BTC left over from paying team members and buying cards.
Again, the business side is operational and the marketing is moving forward. If anyone else wants to join the marketing team feel free to PM me and we'll work something out.
This last week has had my attention drawn quite away from this coin, as some important real world issues have come into light. My sister, who has two kids under the age of 1, just had her 2005 4Runner shot up with an automatic weapon in front of her house. There have also been three murders this last week, so I now have 2 jobs and have moved her out of Lake Edwards, VA Beach. This whole time I have still been sending out out cards and running the business side accordingly so that miners can get the items they purchased in a timely manor. Here are answers to questions people have posted recently:
Fiat into GPUC:
There has already been a page written up about hot to purchase GPUC with USD and bank accounts have been started at BB&T and Bank of America with the intentions of allowing people to directly deposit fiat and receive GPUC. I am also looking into Western Union payments. There are only a couple small logistics issues to deal with before it can go live.
Coin Update:
Micryon did not changing any specs of the coin, just the first block halving time and security updates.
Dumping:
I have yet to sell a single GPUC on the market due to the fact that I care very much about this coin and wish to see it succeed. The GPUs at the store front are all being sold for a loss, which is made up with the initial pre-mine, so the community gets great prices on the cards they want. All of the current cards are being bought with the IPO money and some of my own.
Mintpal:
I do very much hope we get on Mintpal as it is a trusted exchange. GPUC was trading at $10k a day before CryptoRush crashed, so it's obvious that this coin has potential, we just need a way to freely trade. My mining rig (a measly 5Mh) is currently dumping all it's profit into the Mintpal vote and I used the last of the BTC left over from paying team members and buying cards.
Again, the business side is operational and the marketing is moving forward. If anyone else wants to join the marketing team feel free to PM me and we'll work something out.
Re: [GPUC] GPU Coin | GPU sale Friday~ Get a TOXIC R9 280X for $300
Win free GPUs in our newest drawing
https://bitcointalk.org/index.php?topic=550206.0
https://bitcointalk.org/index.php?topic=550206.0
Re: [GPUC] GPU Coin | GPU sale Friday~ Get a TOXIC R9 280X for $300
There's only 18 cards left according to the website. Sale is a week from now, so they are possibly all gone by then?
While it is possible, I highly doubt someone wouldn't wait for a week to save $100 off Newegg or $170 off Tigerdirect prices. There have been 4 "purchases" in the past couple hours with none of them fulfilling the payments to the addresses. Once they pass their allotted time frame for payment the cards will appear back in stock.
Re: [GPUC] GPU Coin | GPU sale Friday~ Get a TOXIC R9 280X for $300
On Friday the 4th of April GPU Coin is having a massive sale starting between the hours of 1700~2000 EST and going until stock is sold out. The rest of the Sapphire Toxic R9 280X cards will be sold for $300 USD equivalant of GPUC at the market value and any person who orders a Sapphire R7 240 card at our already low price of $27 USD equivalant of GPUC will be entered in a drawing for another free R7 240, with a total of 5 winners. Due to stock limits, we will be limiting purchases to one card per customer.
https://gpucoinstore.com
https://bitcointalk.org/index.php?topic=469887.0
This is to make ready for some more cards that are arriving.
https://gpucoinstore.com
https://bitcointalk.org/index.php?topic=469887.0
This is to make ready for some more cards that are arriving.
Re: [GPUC] GPU Coin | GPU on-line sales OPEN | Marketplace is live
To the people thinking that I am dumping coins, I have yet to sell a single coin for BTC. All transfers have been to pay IPOs, Devs or bounties.
In order to be able to cash out and buy the next round of stock there is going to have to be a larger amount of buy orders so I am working on getting GPUC on as many market places as I can right now.
Current balance
http://explorer3.sancrypto.info/tx/0fa535dc6d568e9f4592224537e22693eb99234f2385a4d8476460223bcaca47#i0
In order to be able to cash out and buy the next round of stock there is going to have to be a larger amount of buy orders so I am working on getting GPUC on as many market places as I can right now.
Current balance
http://explorer3.sancrypto.info/tx/0fa535dc6d568e9f4592224537e22693eb99234f2385a4d8476460223bcaca47#i0
Re: [GPUC] GPU Coin | GPU on-line sales OPEN | Marketplace is live
I am currently in contact with a few exchanges to try and get GPUC back up to the trading volume we were at. It's certainly not good that our best exchange is now having difficulties staying afloat.
Re: [GPUC] GPU Coin | Selling GPUs at prices cheaper than Newegg
So Hendr1x is in the final stretch and he estimates the release time of no later than 22:00 EST for the store front. A big thanks to every one who's currently helping him roll out on time.
Sunday GPUC Store Grand Opening
I would like to start off first thanking the community for sticking by GPU Coin and the overwhelming community effort that has pushed GPUC up through the ranks of all the other alt-coins to where we stand today. As of Sunday morning GPUC is currently ranked 78th on Coinmarketcap in value and 38th in 24 hour trading volume. This speaks greatly of the confidence that the community has in GPUC by backing it up with their own investment and can only lead to a highly successful future.
GPU Coin is a massive community effort and I would like to introduce our current staff:
Micryon one of the coin developers who greatly helped me through the rough start in the GPU Coin launch.
Cryptowest the other coin developer who spent just as much time dealing with coding himself.
Hendr1x the current web developer who has taken on the challenge of building the new site and store front from scratch using his own code, which will be released later today.
Waltsmith the Bitcointalk rep who is managing the forum while I deal with the business side of GPUC.
Pastet89 heads up the marketing campaign with new and great ideas on how to spread the word on GPUC through out the crypto world community.
Fujikura taking care of all the social media side of the marketing including Facebook, Twitter and any others.
Lololo33 the graphic designer who built the nice GPUC logo we have today.
I can't thank our current staff enough for all they are doing to sustain GPUC and help put us on the map as an innovative coin with real world business models using crypto coins. I would also like to thank any non staff community members who post and share ideas on GPUCoinForum.com as it helps strengthen our bonds and provide feedback for continuous improvement of GPUC.
Later today GPUC will be going live with the new web page; which will include a store front where graphics processing units will be sold for GPUC; taking another step towards our goal of furthering the mining community by selling supplies to the miners which is paid for by mining. Bitcoin, while it was the first to be accepted as currency, is still hindered by real world markets where GPUs are over priced and lacking in quantity. Our main goal is to funnel all miner sales through GPUC to allow us to purchase GPUs at cheaper prices than the competitors. This will also allow prices to come back down to MSRP. While it is currently difficult to compete with large stores that spend millions on distributors, it isn't impossible. Every sale from the GPUC store front just puts us closer to bringing massive savings and better community service to the mining community. As for today's store front opening, there has been much to do in a small amount of time. Hendr1x has spent many hours working on our site, he also developed an API system (ex. www.dogeapi.com) that will also be available for free if you sign up in the first two weeks after launch. He has also re-designed the original web page to allow for a more fluid interaction with the store front and API system. As of today, you will be able to purchase one of our three types of GPUs that we currently have in stock. We are limiting the purchasing to one card per person per day to prevent any one person from dumping their mass amount of coins. We have plans for expansion of our inventory to as many quality GPUs we can find. Other equipment such as cases, PSUs, motherboards and any other equipment you would need to build yourself a mining rig will also be available. To bring these plans into fruition, we are working continuously on building up our number of distributors and continuing prototyping cases and splitters. On Monday we will have a shipment of R9 290s on order to bring the higher end cards into the store. As for dealing with RMAs, we wish to provide the miners with the least possible down time as we know that when you don't have your cards, you are not making money. To alleviate this we will be taking all the RMA requests directly and if your card is within the first 30 day warranty period, we will ship you a brand new card once your card has arrived. All shipping will be through USPS priority, which means if you live in the continental US your card will arrive in just 2 days time. Please do remember that our first shipment was delayed due to a shipping error and sent from California to Virginia via ground, so product will be shipped out this coming Thursday. You can check the OP in the Bitcointalk thread to see the tracking information.
Pastet89 is currently working on and running a massive marketing campaign to allow for GPU Coin to reach a greater spread of the crypto coin industry. He is currently running a graphic design contest, leading a massive campaign on Litecointalk and has plenty of prizes to hand out to the community. Fujikura is currently running a contest through Facebook and Twitter to give away 100,000 GPUC to two lucky winners picked at random, and all you have to do it re-tweet or like our pages. Hendr1x also has a few things in store, but those things will stay a surprise.
I know some people are worried that an instant dump of coins procured by the store would hurt the market place, and I too believe that it would. All coins used for purchases will be sold back to market places at a slow rate and distributed through out any and all current market places to avoid a dump. I am still speaking with my lawyer about legalities, but there are plans to be able to purchase GPUC directly with fiat currency through the store front at current market prices.
Please stay tuned to our Facebook and Twitter for updates and join us on the official forum to make your thoughts heard.
www.gpucoinforum.com
www.facebook.com/gpucoin
www.twitter.com/gpucoin
GPU Coin CEO
Jaymes Reilly
Sunday GPUC Store Grand Opening
I would like to start off first thanking the community for sticking by GPU Coin and the overwhelming community effort that has pushed GPUC up through the ranks of all the other alt-coins to where we stand today. As of Sunday morning GPUC is currently ranked 78th on Coinmarketcap in value and 38th in 24 hour trading volume. This speaks greatly of the confidence that the community has in GPUC by backing it up with their own investment and can only lead to a highly successful future.
GPU Coin is a massive community effort and I would like to introduce our current staff:
Micryon one of the coin developers who greatly helped me through the rough start in the GPU Coin launch.
Cryptowest the other coin developer who spent just as much time dealing with coding himself.
Hendr1x the current web developer who has taken on the challenge of building the new site and store front from scratch using his own code, which will be released later today.
Waltsmith the Bitcointalk rep who is managing the forum while I deal with the business side of GPUC.
Pastet89 heads up the marketing campaign with new and great ideas on how to spread the word on GPUC through out the crypto world community.
Fujikura taking care of all the social media side of the marketing including Facebook, Twitter and any others.
Lololo33 the graphic designer who built the nice GPUC logo we have today.
I can't thank our current staff enough for all they are doing to sustain GPUC and help put us on the map as an innovative coin with real world business models using crypto coins. I would also like to thank any non staff community members who post and share ideas on GPUCoinForum.com as it helps strengthen our bonds and provide feedback for continuous improvement of GPUC.
Later today GPUC will be going live with the new web page; which will include a store front where graphics processing units will be sold for GPUC; taking another step towards our goal of furthering the mining community by selling supplies to the miners which is paid for by mining. Bitcoin, while it was the first to be accepted as currency, is still hindered by real world markets where GPUs are over priced and lacking in quantity. Our main goal is to funnel all miner sales through GPUC to allow us to purchase GPUs at cheaper prices than the competitors. This will also allow prices to come back down to MSRP. While it is currently difficult to compete with large stores that spend millions on distributors, it isn't impossible. Every sale from the GPUC store front just puts us closer to bringing massive savings and better community service to the mining community. As for today's store front opening, there has been much to do in a small amount of time. Hendr1x has spent many hours working on our site, he also developed an API system (ex. www.dogeapi.com) that will also be available for free if you sign up in the first two weeks after launch. He has also re-designed the original web page to allow for a more fluid interaction with the store front and API system. As of today, you will be able to purchase one of our three types of GPUs that we currently have in stock. We are limiting the purchasing to one card per person per day to prevent any one person from dumping their mass amount of coins. We have plans for expansion of our inventory to as many quality GPUs we can find. Other equipment such as cases, PSUs, motherboards and any other equipment you would need to build yourself a mining rig will also be available. To bring these plans into fruition, we are working continuously on building up our number of distributors and continuing prototyping cases and splitters. On Monday we will have a shipment of R9 290s on order to bring the higher end cards into the store. As for dealing with RMAs, we wish to provide the miners with the least possible down time as we know that when you don't have your cards, you are not making money. To alleviate this we will be taking all the RMA requests directly and if your card is within the first 30 day warranty period, we will ship you a brand new card once your card has arrived. All shipping will be through USPS priority, which means if you live in the continental US your card will arrive in just 2 days time. Please do remember that our first shipment was delayed due to a shipping error and sent from California to Virginia via ground, so product will be shipped out this coming Thursday. You can check the OP in the Bitcointalk thread to see the tracking information.
Pastet89 is currently working on and running a massive marketing campaign to allow for GPU Coin to reach a greater spread of the crypto coin industry. He is currently running a graphic design contest, leading a massive campaign on Litecointalk and has plenty of prizes to hand out to the community. Fujikura is currently running a contest through Facebook and Twitter to give away 100,000 GPUC to two lucky winners picked at random, and all you have to do it re-tweet or like our pages. Hendr1x also has a few things in store, but those things will stay a surprise.
I know some people are worried that an instant dump of coins procured by the store would hurt the market place, and I too believe that it would. All coins used for purchases will be sold back to market places at a slow rate and distributed through out any and all current market places to avoid a dump. I am still speaking with my lawyer about legalities, but there are plans to be able to purchase GPUC directly with fiat currency through the store front at current market prices.
Please stay tuned to our Facebook and Twitter for updates and join us on the official forum to make your thoughts heard.
www.gpucoinforum.com
www.facebook.com/gpucoin
www.twitter.com/gpucoin
GPU Coin CEO
Jaymes Reilly
I finally found some items I wanted in stock at my distributor, ordered them, paid in full on the 18th from a warehouse only 500 miles away and awaited the tracking info. I got an e-mail the following day saying they couldn't find the items in their warehouse but said they had all of the cards in another location and would be shipping them out shortly, to which I told them all they needed to do was make sure the items would be here by this weekend, to which they promised me no worries. I checked my e-mail yesterday and was met with some bad news; they shipped all of the items from California via UPS ground. I tried giving UPS a call, but all of the boxes were already on a truck and traveling cross country so they couldn't help.
So, to alleviate any worries I am letting all the good people know that the store front will be open on Sunday like planned, but any orders will be shipped out on Thursday when all the stock arrives(check out tracking at the bottom). GPUC from sales will NOT be dumped on the market place all at once but will instead be spread out as much as is feasibly possible to keep the market stable.
Selling prices are as follows, given in USD but will be selling for the equivalent of GPUC:
Sapphire Toxic R9 280X : $390 + shipping
Sapphire R7 240 : $27 + shipping
Gigabyte R9 270 : $190 + shipping
My invoice from the distributor:
http://i.imgur.com/falMZxu.jpg
If you want to check out the shipping info of the eight 34lb boxes of GPUs:
http://wwwapps.ups.com/WebTracking/processInputRequest?sort_by=status&tracknums_displayed=1&TypeOfInquiryNumber=T&loc=en_US&InquiryNumber1=1Z9844140377461322&track.x=0&track.y=0
So, to alleviate any worries I am letting all the good people know that the store front will be open on Sunday like planned, but any orders will be shipped out on Thursday when all the stock arrives(check out tracking at the bottom). GPUC from sales will NOT be dumped on the market place all at once but will instead be spread out as much as is feasibly possible to keep the market stable.
Selling prices are as follows, given in USD but will be selling for the equivalent of GPUC:
Sapphire Toxic R9 280X : $390 + shipping
Sapphire R7 240 : $27 + shipping
Gigabyte R9 270 : $190 + shipping
My invoice from the distributor:
http://i.imgur.com/falMZxu.jpg
If you want to check out the shipping info of the eight 34lb boxes of GPUs:
http://wwwapps.ups.com/WebTracking/processInputRequest?sort_by=status&tracknums_displayed=1&TypeOfInquiryNumber=T&loc=en_US&InquiryNumber1=1Z9844140377461322&track.x=0&track.y=0
Means they are not sleeping much, cause they are working their asses off, trying to meet the deadline for the store opening. So, I haven't bugged them trying to get details about things that may change between now and then anyways. Still, with opening of the store imminent, difficulty is rising, price is rising, and interest is rising. All without a working block explorer at the moment, keeping the coin from its true place on coinmarketcap.com.
The block explorer has been fixed, I already sent Gliss a PM with the updated link for total GPUC supply.
Sorry to everyone who wants more input from myself into the thread, but between meeting with lawyers, my CPA, dealing with stocking cards in a market that is completely sold out and other miscellaneous items, my hands are pretty full on this end. I do plenty of cards that were shipped out today so they will arrive just in time. I will post a nice picture once they all arrive.
I'm just elated that there is such a forgiving community that saw this coin through the rough start and continue to offer support, I can't say thanks enough. Here's looking forward to Sunday~
Re: CoinMarketCap.com - Market Cap Rankings of All Cryptocurrencies!
Re: CoinMarketCap.com - Market Cap Rankings of All Cryptocurrencies!
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 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.
I am yet to receive my shares from the IPO
I hope i will get your attention when i open a thread in the scam accusation and you get a bad trust in your profile
I hope i will get your attention when i open a thread in the scam accusation and you get a bad trust in your profile
Did you use a temporary e-mail when you initially invested? I sent this out yesterday to the 9 people who have yet to contact me about getting their coins.
On 2014-03-12 18:39, ipo@gpucoin.net wrote:
> I see that you have yet to request your GPUC from your IPO investment.
> If you are having difficulties, please send me an e-mail so I can
> help you set everything straight to get you your coins. If you can't
> send an e-mail to this account, please feel free to use our temporary
> account StakAuto@yahoo.com while our e-mail servers are fixed. Thanks
> for your continued support!
>
> Jaymes Reilly
So this is the prototype a friend has made that holds 8 GPUs, which will work well with the 16x 8 way splitter that is currently under development. This is NOT a final design and there are already a few things I want changed, but it's progress in the right direction. Welded aluminum frame and we're shooting for a selling price of $100 worth of GPUC.
Hello all, I am looking for some help with the community. As you know I'm busy working to make the store front open up smoothly the business end really eats up all my free time which doesn't allow me to go through 50 new pages a day on this forum. I can't answer every single question, some of which (such as "what exchanges are trading") can be alleviated by simply re-posting information from the OP. I know there are important questions questions floating around, and that is where you come in. I would like to hire 2 community members who can maintain activity on this thread, answer questions and forward any pressing issues to a private e-mail address.
The store front is under development but we can always welcome new members to the team such as graphic designers or even other web developers to take some of the work load. Shoot me a PM if you believe you could be a valuable asset to the team and thanks for your continued support.
As for the e-mail issue, the @gpucoin.net accounts still work and after talking to two separate tech support agents they could not find any issues with how they were set up. If anyone has any knowledge as to why some mail servers can't send to them I would greatly appreciate it.
The store front is under development but we can always welcome new members to the team such as graphic designers or even other web developers to take some of the work load. Shoot me a PM if you believe you could be a valuable asset to the team and thanks for your continued support.
As for the e-mail issue, the @gpucoin.net accounts still work and after talking to two separate tech support agents they could not find any issues with how they were set up. If anyone has any knowledge as to why some mail servers can't send to them I would greatly appreciate it.
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 found out that if I accept commodities as payment I personally don't have to collect tax on anything sold within the state of VA and it's up to the person who purchased the item to claim the item and pay taxes on it in their state.
This is a little confusing, could you please clarify:
Are you not going to collect tax? By commodity do you mean GPUCoin?
Will customers have to deal with taxes on their own?
GPUC isn't a federally accepted for of currency, so it's considered a commodity.
If you've ever ordered anything online from another state you are supposed to tell the state you live in what you bought and pay the appropriate state sales tax on it.
In reality, I've never once seen any single person do this. I am not telling you to ignore state tax codes, I'm just informing you that I've never seen any one go out of their way to inform the state of any items they purchased on the internet just so they could pay additional taxes.