Topic: [ANN] [ASIC-RESISTANT] UltraCoin (UTC) - Ultrafast 6 second transactions!! - page 291. (Read 946650 times)

Going down ! buy them cheap while you can 

Nitro1 down... 

Dont know if i mind... 

hell ya ive always dual purposed my rigs.

I have 3 specific rigs TRI Crossfire on all of them

TRI Xfire 7970s @ 1250/1850 all 3 cards non Xfire while mining When im at my parents i game on this rig and mine it while im not using it AMAZING for gaming while visiting the rents.

My Guest PC Tri 7950's @ 1275/1800 Obv same thing this gets mostly used to mine but when friends stay the night they get the royal treatment for gaming and lanning with me better then there own rigs hehe.

and my person pc Tripple XFX 290's Unlocked to 290X's  on a Asrock Z77 OC formula Mobo all watercooled. and all cards @ 1150/1450 , [email protected] ect ect patriot Mem @ 2666mhz tightish timings.

actually all the pcs i use have Tri sli boards and have Fairly heavy Oc'ed processors.. point being its all dual purpose if i need to game or render on the pc in question i can and if mining falls though the floor i have a 2ndary use for it all.

LOL. That's one thing I haven't even tried. gaming with my 280x cards. I might try it out. 

There is only one bright side to this -- I'm gaming this weekend with my 290x in SLI.  If I'm going to waste electricity, I'm going to enjoy it. 

Wow. There is not even a single coin on Coinwarz that is profitable to mine with a AMD GPU right now. LOL. 
However, if you have a nVidia 750 Ti, it's a different story as it uses half the electricity of equiv. AMD GPU.

Well, if they are smart, they would know that most Crypto's are just as secure as each other and technically similar enough.
They can buy tons of cheap UTC right now, then support UTC, and if price goes up, they might mak a huge profit also.
Yes, they can support ANY other coin. But I wonder if ANY of those other coin devs actually tried contacting them?

Demand will come when people feel it is valuable. Right now, nearly no other coin except BTC is truly valuable / useful.
But as a transactional currency, it's pretty darn slow compared to UTC. Even LTC is slow to coins such as UTC.


Come on. Many (if not most) people who hold a lot of any coin is because they see a carrot dangling in-front of them.
I wouldn't be here (crypto-land) if I didn't see any potential to possibly make me more money than what i invested in.


And you are not. That's fine.


And you are not. I'm not. Only 2 people paid them. They probably can afford it also. Zero harm done to anyone.


Yes. I also felt what you felt to a certain degree. But yeah, I have no idea on the financial situation of bumface.
From all this, it sounds as though he doesn't even have a spare $500 available? He is not rich that's for sure. 

I'm skeptical because lets be realistic, at this point, this coin is not BTC, Doge, or LTC, and BTCx only takes BTC as far as I can tell.  Why in the world would they skip over coins that have 10 - 200 times the number of users for their next POS adoption?  You're damn right I'd expect to hear something positive out of their mouths about UTC publicly before they ever made a partnership.  Honestly, it just doesn't make sense to do it if I am them.

As for UTC, it makes all the sense in the world to court them, however impossible it may seem.  I'm not knocking the effort, just the viability of the tactic.  I don't like him asking for donations while dangling a carrot that I think is unobtainable.  I get responses like I got from the last guy that says how big of a deal this is. 

Lots of fantasies could be big deals, but it doesn't mean I have to give them any credence. 

I sincerely hope I'm wrong, I'd like to see any crypto be more widely accepted as a payment for good or services, especially one I own, but that doesn't mean I would invest in every crazy idea someone pitched that might get me there.

As for Bumface, I'd expect him to follow up on some of these pie-in-the-sky connections.  This is his baby, he should chase all the things more prudent investors should shun.  And it's great he has people backing him up doing it.  But coming back to my initial concern, he just seems unwilling to do any of it unless someone else is footing the bill.  That was the crux of every single post I made today, and that's the position I was arguing from.  I just don't like his tact in this situation.

I think you are correct there. Most of the money came from the IPO.


I've gone through many many coins myself to realize that marketing is the best way to get noticed & not due to its technical merits.
Whichever coin that signs up with big payment processors, major franchise or commercial store support, celebrity etc will win this race.
I don't know if bumface has it in him but it's not like I'm doing much about it so good on him. Hope he pulls something off. haha.


I have no idea. Maybe it's just an unofficial gathering in the afternoon at a cafe.  
But that's good enough still. Maybe he might get some tips from other coin devs.
Also might make some new friends, allies and get to know some potential partners.


I think there are more places that support DOGE payment than LTC last time I heard.
Also, business deals don't go public before they are made. So why would you see it on their web site?
You expect businesses to publicly tell other businesses about what they are planning?

I can understand you or many others being skeptical. I am also.

I don't know if bumface is capable. But I hope he is. At least he is trying to do it in person & face to face.
That's already doing more than most other coin devs I've seen. Twitter spams and emails can only go so far.

Why is the Reddit section private?

You're conflating two different things.  I said it was great that people were willing to pay.  I complained about the fact that they had to, willing or not. 

I also complain about people going hungry in the USA.  I think it's fantastic that people donate their time and extra food to food banks, but I'm not happy that they have to do it.  Just because people step up to do something altruistic doesn't mean I support the reason they had to be so in the first place. 

With respect to this conference, I feel it's the equivalent of donating to a charity that gives very little of your donation to their cause. 

with respect to a payment processor - If one actually resulted from this conference, I will publicly renounce my statements I made above.  As it stands, I haven't seen anything that says why they might be willing to accept Ultracoin, all I see is they are sponsoring the conference.  They don't even take Litecoin as far as I can tell, I'm not sure why they would skip over it and go straight to Ultracoin. 

Having a payment processor for any coin is a big deal, and in the long run is what will make the difference for any coin. Being able to use a coin to buy goods at a major retailer instead of having to trade it, move it around, wait for miners to dump and crash the price, etc. This is not blind faith, its legit.
 Why are you complaint about giving to a developer if you are not the one giving???

yes I was only adding an interpretation not a personal feeling.  I don't suppose there is an opinion on this that I want to convey atm.


From what has been stated at various times and places;  one can account for most of the IPO.

21- BTC to Ziggy (Dev but gone)  (plus 100K UTC)
26- BTC to Bumface (Asics)  (plus 100K UTC)
 5 - BTC to Website (was copy/ paste, now replaced by Xweb) (plus 100K UTC)
 6 - BTC to Official Pool (Hackshard, never opened)
15- BTC to Marketing person (Never shown / Unknown)
------------------------------------
73-  BTC total
  7-  BTC Unknown
------------------------------------
80-  BTC IPO

300K UTC premine
100K UTC premine unkown (market guy or pool guy got it)
------------------------
400K UTC premine



4 main reasons:

1) -  IPO was linked to premine and "spun" as a single lump premine of 2 mil.  IPO only would have attracted less negative PR.
2) -  Even with Asics coming out and asic-resistant more popular;  very few like the algorithm used.
3) -  Possible backdoor tie to BTC-e // possible fake coin propped up by idea of btc-e
4) -  Coin has always had greater than 50% of the network being hashed by one source for the entire life.

Personally, I've stated with 1) before, that an IPO is not premine since it's not dev held.  With point 2 I can see and agree some with.  Point 3) I'm not sure either are valid.  Finally, point 4) not good of course; however it's not malicious as is required for issues.

All coins negatively effected.

I'm under the impression that it all came from the IPO or he paid himself back out of the IPO.  He has said he paid for a consultant, an SEO guy, the initial website, maybe something else, I don't remember, but the IPO was 80 BTC.  I think about 30 of those went to ASICs.  He details it at some point in this thread.  

I don't really want to drag this out anymore.  I've said my piece on this topic.  I think it's valid, but I think the same thing when I debate religion with fundamentalists.  Sometimes, you are at an impasse with some people and there's no point beating a dead horse.  

I'll end my rant with this -- There are things that could be done with this coin that would help the possibility that it will survive the alt coin fallout.  At some point in the life of this coin, others agreed.  All I see now is a bunch of blind faith that things are going to be okay.... just because.  Or that some publicity at a conference is all that's needed to boost it to the moon.  I don't know if it's a Q&A session or just a speech, but if he doesn't compellingly sell this coin in ways he's never been able to do for me (it's fast! isn't enough), it may tank even further.  

You really want to help UTC while your at that conference Bumface?  Kick Josh Zerlan in the nuts while on stage.  You'll get a standing ovation... maybe a national medal... who knows really?  The accolades may be endless.  

BTW -- There is no altcoin panel Q&A or discussion on the program for that conference, when is it occurring?

Not sure why this is but it should be addressed. :/

As for your above questions, it is more or less impossible to give you an answer. There are way too many variable involved. I am sure we'll see a sharp shift in GPU mining allocation once the heavy hitting ASICs arrive, but for now, things seem stable.

That being said, we will have the answers to your questions and more in due time. I can assure you that.

I just joined reddit and been reading about Ultracoin threads and what people say about us/UTC.

It looks like we are not very popular and have bad PR unfortunately. We really need marketing and awareness to attract these doubters.

also why is Ultracoins subreddit set as "private" when all other coins are ok to access?  - http://www.reddit.com/r/ultracoin

hi all,

Firstly I know nothing about mining and am an investor but trying to learn more and more as time goes by.

My question is with Scrypt asics coming and miners looking for alternate coins to mine such as Ultracoin, Vertcoin, Execoin etc etc, what % of coins will see gains from this? 5% - 40%??which coins are effected negatively

and When should we expect this to occur?

Your knowledge would be great to this computer novice.

Last time I read, he said he spend more than 20 BTC of his own money to create this coin, pay for web sites, pay for ziggy etc etc.
That was even before the coin was on any exchange. So going by his words, he did spend his own money for Ultracoin.
Yes, he will profit. But if he is willing to work to improve Ultracoin due to such incentive, that's a win-win for both of us.
One of the big reason why this coin took off in the first place was because of his name and recognition for being a BTC-e mod.
The bigger question here is how much he will be able to spend on Ultracoin once he gets his ASIC. (ASIC better be profitable. )

I realize you're just trying to interpret, but there is an odd logical circle there.  Developers don't add value to the coin.... but we are to give them money to solve the problems we're having.... though they add no value. 

And I'm not going into the obvious statement of profit when most Devs take a chunk of it for themselves.  In this case, a very hefty chunk.  I don't care if it is supposedly going to be invested in the coin or not.  If UTC died tomorrow for some odd reason, He would still have ASICs worth a ton or potentially will make a ton of money with.  It's a win / win.  If UTC doesn't die, he still has 100,000 UTC that was provisioned for himself.  That certainly seems like profit to me. 

The point of my original comment was, in the end, Bumface stands to profit one way or another, but seems unwilling to risk anything personally for it.  I don't think the statement was invalid and some don't see it as a problem.  From a technical standpoint it isn't, but it doesn't strike me as someone who really believes there is long term value as every nickel out of his pocket today seems to bankrupt him when he's sitting on a pile of premine gains that you all prop up through mining and trading.  You're already shouldering a ton of the work, I just get upset when I see something come up that, by every right, he should dip into his own funds to take care of, yet he asks again for your help. 

I'll give it to you all for dedication at this point, but don't completely be blind in your support just because you want to believe.  That's fanaticism.