This is why the value of UTC should 10 times more than what it is now atleast
Should be but its not, no interest, no buying, just selling lower and lower, slowly bleeding out. I'm not sure what the problem is but there is no confidence and/or belief in UTC. Meanwhile people throw money at ridiculous silly coins. Is the wallet issue starting to freak people out? I dont know...
I don't know either, but it doesn't make sense. It does seem like we need to release something big for the coin every day to stay in people's minds. What worries me though is that no one is talking about UTC. Case in point - go to Twitter and search for ultracoin. Every single person that is a part of this community and wants to see this coin succeed should be spreading the word. Just saying...
And along comes the common sense guy (CSG)...
Okay, I think I already covered this in a recent post -but lets look at it from another angle. Does anyone remember when Ultracoin was worth about 1.00 USD? I do. What was the difference between the $1 UTC and the $0.05 UTC? Anyone? Ok... I will tell you.
If you have been on any exchange and looked at the trollbox, good news tips spread like wildfire. The better the news, the more interest it creates for that particular coin. Another factor is the number of people spreading the news. One person is a spammer, two are cohorts working as a spam team, three or more...well now that will turn some heads. The last factor is the validity of the source, or I guess you could say the reputation of the "troll". People are more likely to become attracted to a particular crypto if the person putting out the good news is deemed reliable and trustworthy.
So back to the question: What is the difference between the $1 UTC and the $0.05 UTC? Simple, Bumface. As a BTC-e mod, Bumface essentially connected with somewhere between 7-10 thousand people at the time when he shared the news of the upcoming UTC release. So we had good news, and a reliable source. Next, a boatload of people who became interested because of those two factors started pushing the good news further. At that point, the third factor came in to play. When UTC was surrounded by good news from many people to include a reliable source, the value skyrocketed without hesitation. That was 3 months ago.
So now... we have a lot of new people, many who don't even know who Bumface is, or even worse, they don't know what UTC is. Those who have been around probably frequent BTC-e, but not the new guys and gals, they are trading pennies on MP, Polo, Cryptsy, and so on.
What we need to do now, is recreate the first week of February. But we are from that as it stands. Bumface appears to be less active (while probably not true - appearance is a bitch). Good news is few and far between (again news is not news unless it is widely broadcasted and reaches an audience). And lastly, no one is talking about UTC in the troll boxes. Perhaps the UTC community does not realize just how important those troll boxes are to crypto; they are immeasurable tools.
These are the hard facts. This is a realistic problem. Let's find a solid solution.
-CSG
Agreed! I'm about to go back into the trollbox for a few minutes to re-spread DCgirl's new blog about ultra-arb. All the while UTC is on it's recent evening daytrade pump.