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March 26, 2014, 11:15:38 AM |
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I think there has been a bit of a mistake in the strategy for this coin: - i am guessing all of the IPO's and Devs want this coin to succeed (i.e. healthy coin price - worth while mining to get returns for power), hence the price of the coin needs to be pushed up, perhaps to around 50/60. But the store has priced the GPU's based on a price of between 20-30 henace, setting its own market cap, this makes it almost unfeasible to mine and get any return for the power cost for the typical miner, let alone pay for a new GPU. -for long term price increase the GPUs would need to be sold at an extremely competitive price, probably at a loss initially, in order to push the coin price up. This would be inconsequential for the developer becasue there was basically no risk because the cards were paid for with the IPO money (or they should have been). -this would have pushed the price of the coins up and the next round of cards could then be sold for the same GPU coin price but make a prfoit> everyone wins. -as it stands at the moment the price is crashing because its less hassle to just buy a new GPU from amazon, it may be slightly cheaper in GPU coins but with amazon you dont have to buy Bitcoins, convert to GPU coins and then buy through the GPU store.
Quick fix - reduce the price of the GPUs significantly - put the equivalent price in USD next to the price in GPUC - Pay for some advertising somewhere - also, sell moe than GPU's miners also need PSU's M'boards etc... (this is more of a long term thing though)
sorry to stick my noob 2 pence worth in but I think this coin has massive potential, the strategy needs to be long term....
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