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Topic: [ANN] [ASIC-RESISTANT] UltraCoin (UTC) - Ultrafast 6 second transactions!! - page 31. (Read 946641 times)

hero member
Activity: 482
Merit: 500
Okay, so the owner of the biggest pool for UTC back in the early days helped start CAI (with several other pool operators, though I'm not sure if any were related to UTC). Unfortunately, the editing and deleting of old posts makes it difficult to "check and investigate better". Stuhlman probably had a bunch of UTC, and he probably cashed out a long time ago as well. Such is life. But changing to 100% PoS is no panacea -- it just makes things messy and ultimately I don't think it's likely to do much other than allow all the GPU miners to quit supporting Ultra. That's fine I suppose -- let all the big bag holders continue to hold and try to figure out ways to get people to invest in UTC. But if you're trying to tell anyone that investing in UTC now is a good idea, I've got some beach front property in CA that I'll sell you for pennies on the dollar as well!

You have some great insight, trogdorjw73. People should listen to you if they want 'smart' investors.

I don't understand your disdain with Scrypt-Jane (more appropriately named scrypt-chacha). I agree on the point you made about the NFactors scaling way too quickly at the beginning and killing momentum from initial investment. But isn't it good now with the NFactor changes far between (I'm thinking more yacoin of course)? I think around 1 year between NFactor changes would be more ideal although I admit pretty arbitrary. VertCoin (4 year between each NFactor change) is apparently going to get hit with ASICs, and I for one can't stand those scammy companies.

I also wouldn't overlook the hybrid POW/POS. I mean as the volume of coins increases over time, the percentage of coins created by POS increases over POW. You become an almost POS only coin when 95% of the coins that enter circulation each day come from POS. I'm too lazy right now to calculate when that would happen, but you get my point.
Scrypt-Jane was a specific implementation of Scrypt-Chacha with pre-programmed N-Factor changes, and fundamentally my problem is that they were poorly chosen. Now we're at the point where things are slowing down, but it's also "too difficult" to get miners up and running, so only those that got in early are still worried about mining UTC. Really, can you imagine anyone new to the cryptocurrency scene saying, "Oh, look at UTC -- I wonder how I can get set up to mine at NF-13?" They can do Scrypt, X11, X13, etc. and mine any of a couple hundred coins, whereas Scrypt-Jane requires tweaking parameters for just one coin (or at least on N-Factor). It's a major pain in the butt! Scrypt-N is practically the same algorithm but with NF changes more widely spaced; in January the first Scrypt-N coin will move to NF-11, and most of the difficulties with that N-Factor are now known; the next change will be in another year or more, so SJ gets to pave the way with little reward for doing so.

The ironic thing is that all of this was done to "protect us from the evil ASICs", and yet I'm not even convinced ASICs are the real enemy here. This has become a big business, and that means the small fries (you, me, and anyone else that can't invest millions of dollars) are probably just lucky to have gotten in early enough to have made some good earnings. I don't think we'll actually see a fully functional Scrypt-N ASIC in a time frame that will be profitable for the buyers, but the manufacturers of the ASIC will still make money -- or just scam people and disappear with the coins they're paid. But how do you stop that from happening? Government oversight, laws, regulations, etc. are all things that BTC was trying to avoid early on, yet now we're trending more and more towards having all of them. Oops.

As far as PoS goes, it was basically designed as a way to reduce power requirements while keeping the network secure from a 51% attack, and it does well in that regard. The problem is that it doesn't encourage use of a coin, and there are all sorts of weird things that go on with PoS coins like scaling of the interest rates, or poor coding (cloning of a poorly coded implementation), etc. The rewards are also terribly stingy on many coins (Blackcoin), so if the idea is to have people leave the wallet running 24/7 to support the network, there needs to be a real incentive to do so. This fad that started with BC where it's somehow better to distribute all of the coins in a one week period and then shift to PoS strikes me as a huge money grab as well. At least UTC would have been around for a long time before making the switch, but of course it's going to require a hard fork again and people will get upset about fundamental changes to the design of UTC.

Really, in retrospect (yes, I know: hindsight is always 20/20), UTC was not designed properly. I can say the same of many coins, including BTC and LTC, but what's done is done. Block reward halving is convenient in terms of knowing the block reward for long periods of time, and it doesn't necessarily reward the first miners with the most coins, but slowly scaling down (e.g. sort of like DRK, though it could still be improved) seems better. Fast NF adjustments -- ever -- is just chaotic. As someone that mined a bunch of the SJ coins when they were new, almost every NF change would cause issues on every mining PC I have. The power efficiency issue is also real -- I have given up on Scrypt-N and anything else above NF-10 for that reason, and of course vanilla Scrypt is now in the domain of the Scrypt ASICs. And as for the block times... they're just too short, as I noted already.

So given all of the above, what's the "ideal" new coin? First and foremost, it has to bring something new. If you clone an existing coin and just tweak the parameters a bit and create a new image and name, you've created a coin that's basically just a money grab from the developers (and to an extent the whole cryptocurrency community). You need at least some sort of major new feature. For example, stuff like a built-in exchange system in the wallet would be useful, or at least a way to check the current prices; Stealth Transaction type features are also useful. Most other "additions" are just fooling around trying to pretend to be different. I don't think in-wallet games are useful, as that's just a time sink and people have lives they need to live (e.g. you can't have five different wallets with games running and expect a person to play/mine/whatever all of them at the same time).

If UTC is going to hard fork to PoS, they ought to look at some other fundamental changes. The coin went from what -- 6 seconds to 20 seconds to 30 seconds for the block times? 30 seconds might be okay now, but one minute still seems more reasonable to me, especially given PoS will be more consistent. Now add in something like Stealth Transactions (similar to the new VTC), and a built-in ABE-style block explorer, and the ability to do a VeriSend type of transaction (send BTC via UTC) and we're looking at something useful. At that point, if you can make all of those additions, is it better to fork from UTC or would it be best to just make a new coin? Or does the market really just want some of these features for an existing coin that is already well regarded (BTC, LTC, etc.)?

The coming alt-coin apocalypse is going to be messy, and I'd guess that less than 10% of alt-coins will really be doing anything worthwhile in another year -- and maybe even 5%. It's like a business that expands too rapidly and suddenly has 3000 retail locations, and then they realize they're not getting enough customers at each location and so a few years later they file for bankruptcy and close most of the stores. Cryptocurrencies have done basically that right now, and while not all of the coins were created in such a way as to be deemed "junk copies", there will be some "good" coins that die along with the "bad".
full member
Activity: 238
Merit: 100
http://ultracoin.net/ - Ultracoin Website http://c
Price going down as we haven't been on coinmarketcap for 2 days. Why haven't you sorted this, surly you look on there 2-3 times a day to see what's going on in crypto land.

As one of the biggest 'bag holders' I have to say this isn't the coin I invested over $25k  into and I'm against making it full POS. I thought this was a long term coin focused on development and not too concerned about its price as the price will go up naturally as it became more accepted in marketplaces. I'm also against this decision been made to completely make it a different coin without consultation with the community.

I have to question the mine craft idea also. If you are so confident it will attract lots of interest why not wait until the mine craft idea is complete and availble.
I'm not getting into an argument and don't really want people to reply. I just wanted to have my say as I read this thread 2 times a day and haven't spoken up about my views



+1
member
Activity: 91
Merit: 10
Price going down as we haven't been on coinmarketcap for 2 days. Why haven't you sorted this, surly you look on there 2-3 times a day to see what's going on in crypto land.

As one of the biggest 'bag holders' I have to say this isn't the coin I invested over $25k  into and I'm against making it full POS. I thought this was a long term coin focused on development and not too concerned about its price as the price will go up naturally as it became more accepted in marketplaces. I'm also against this decision been made to completely make it a different coin without consultation with the community.

I have to question the mine craft idea also. If you are so confident it will attract lots of interest why not wait until the mine craft idea is complete and availble.
I'm not getting into an argument and don't really want people to reply. I just wanted to have my say as I read this thread 2 times a day and haven't spoken up about my views



well said
sr. member
Activity: 1221
Merit: 250
i think something wrong with the payout of x11 again. I have average 90mh but only received 733 coins.
member
Activity: 76
Merit: 10
Price going down as we haven't been on coinmarketcap for 2 days. Why haven't you sorted this, surly you look on there 2-3 times a day to see what's going on in crypto land.

As one of the biggest 'bag holders' I have to say this isn't the coin I invested over $25k  into and I'm against making it full POS. I thought this was a long term coin focused on development and not too concerned about its price as the price will go up naturally as it became more accepted in marketplaces. I'm also against this decision been made to completely make it a different coin without consultation with the community.

I have to question the mine craft idea also. If you are so confident it will attract lots of interest why not wait until the mine craft idea is complete and availble.
I'm not getting into an argument and don't really want people to reply. I just wanted to have my say as I read this thread 2 times a day and haven't spoken up about my views



+1

Funsponge, I feel the same way.

If UTC goes full POS with and drops the ASIC-resistance and compromises the transaction speed, it's not even the same coin that we originally invested in. I thought we were making headway by driving the UTC acceptance and the Devs were working on the promised project initiatives.

The arguments against going seem very reasoned and thoughtful, the only reason I see for POS is "We need to do something drastic!".

I would agree that we need to do something drastic, but full POS doesn't sound like the cure.
hero member
Activity: 776
Merit: 557
Price going down as we haven't been on coinmarketcap for 2 days. Why haven't you sorted this, surly you look on there 2-3 times a day to see what's going on in crypto land.

As one of the biggest 'bag holders' I have to say this isn't the coin I invested over $25k  into and I'm against making it full POS. I thought this was a long term coin focused on development and not too concerned about its price as the price will go up naturally as it became more accepted in marketplaces. I'm also against this decision been made to completely make it a different coin without consultation with the community.

I have to question the mine craft idea also. If you are so confident it will attract lots of interest why not wait until the mine craft idea is complete and availble.
I'm not getting into an argument and don't really want people to reply. I just wanted to have my say as I read this thread 2 times a day and haven't spoken up about my views

hero member
Activity: 566
Merit: 500
Can we all just focus on the progression of UTC instead of fights on this thread, i must say iam getting pretty tired of it.. By now, everybody has had their say and its clear where everybody stands..  Fact is that the decision is made to go full POS and it seems it cant be changed anymore..  If anyone thinks that it isnt going to work, fine, there are plenty of other coins to concentrate on.. Why come here and spread fud and false accusations..

P.S. it would be nice if the management team would take part in the discussion instead of just making an announcement and keep it quiet afterwards, despite the reactions.
member
Activity: 82
Merit: 10
Blah blah blah

And you are the biggest troll of them all in this thread  Roll Eyes you sir are going on ignore, you have nothing to say other than starting fights, grow up you pathetic little man, some of us are trying to actually have a discussion without being trolled.  Yes I have calmed down, yes I have apologised.  Try doing the same.  Every time you're involved there are nothing but pages of insults and anger, you alone do more damage to UTC than anyone else combined
legendary
Activity: 2328
Merit: 1292
Encrypted Money, Baby!
So block 450.000 is gonna be the last block before POS gets in?

Current block: 441900
8100 blocks to go
~ 2 blocks per minute (?)
4050 minutes
67 hour
2,8 days from now...??

So about 3 days before UTC will rock again?

When will the asics arrive in Holland?

When will V2 crypto-trade be ready?  Tongue

First we gonna win the world championship soccer.....then the rest will follow
Well, could be. Actually, you have the easier opponent (Argentina, right?). We have to beat Brazil, the host himself, today. Won't be easy, but if we manage to, we'll meet in the finals Smiley
legendary
Activity: 1076
Merit: 1003
So block 450.000 is gonna be the last block before POS gets in?

Current block: 441900
8100 blocks to go
~ 2 blocks per minute (?)
4050 minutes
67 hour
2,8 days from now...??

So about 3 days before UTC will rock again?

When will the asics arrive in Holland?

When will V2 crypto-trade be ready?  Tongue

First we gonna win the world championship soccer.....then the rest will follow
full member
Activity: 135
Merit: 100
So block 450.000 is gonna be the last block before POS gets in?

Current block: 441900
8100 blocks to go
~ 2 blocks per minute (?)
4050 minutes
67 hour
2,8 days from now...??

So about 3 days before UTC will rock again?

When will the asics arrive in Holland?

When will V2 crypto-trade be ready?  Tongue
member
Activity: 99
Merit: 10
No!  Stuhlman was the owner of Nitro and Nitro2 miningpool and he was a supporter and community member of UTC.
Sthulman started his own coin after and he has never been involved in the dev team of UTC.

Please check and investigate better before you give wrong information here that can be harmful.

What is wrong with all does ppl who are talking garbage and try to tell those things here as it are facts?

Now like this trogdorjw73, wtf is he talking about that the UTC team created and abandoned CAI and then switched to CAIx???

So this is another dude like flobdeth and kingpin who are making false accusations and telling lies !

And what about UTC is old news and nobody want it Angry Huh I am happy that you cashed out.
So what you are doing here now, telling fud and lies Huh



Considering this same team created Caishen (CAI) and then abandoned that and switched to CAIx (....)

..... Since UTC is basically old news, no one is really interested in it...

.....Since this same team did CAIx, I checked my interest so far and it does look as though scaling is not happening...

....Anyway, I gave up on Ultracoin last week and cashed out....
1) Hold on, wasn't the Caishen Project started by Ultracoin people? I know at least one of the CAI/CAIx major guys (Stuhlman) runs Nitro.org, and Ultra.Nitro.org was certainly one of the biggest UTC pools (though I haven't checked to see if that's still the case). I've been poking around trying to find an archived version of the CAI announcement thread but have not found one yet. Anyway, whether or not the UTC team is involved at all with CAI/CAIx is somewhat irrelevant, as the fact is the coin is basically being changed in a similar fashion: out with Scrypt-Jane, in with 100% PoS.

2) If you don't think Ultracoin is old news, I'm sorry, but the coin was launched ages ago in Internet time. It's over six months old now, SJ has scaled N-Factor all the way up to 13 now, and rewards were changed from 50 to 15 UTC. Just reading the posts in this thread makes it pretty clear that the coin is languishing and people are trying to figure out how to make their UTC holdings actually have value again.

3) Cashing out is merely me pointing out that I don't have any stake one way or the other at this stage. If UTC goes "to the moon", I've missed that rocket -- just like I've missed the Vericoin rocket and many other so-called "rockets". But if they don't actually clear the gravitational well of Earth, rockets end up crashing into the ground, and I've missed a lot of those as well.
Okay, so the owner of the biggest pool for UTC back in the early days helped start CAI (with several other pool operators, though I'm not sure if any were related to UTC). Unfortunately, the editing and deleting of old posts makes it difficult to "check and investigate better". Stuhlman probably had a bunch of UTC, and he probably cashed out a long time ago as well. Such is life. But changing to 100% PoS is no panacea -- it just makes things messy and ultimately I don't think it's likely to do much other than allow all the GPU miners to quit supporting Ultra. That's fine I suppose -- let all the big bag holders continue to hold and try to figure out ways to get people to invest in UTC. But if you're trying to tell anyone that investing in UTC now is a good idea, I've got some beach front property in CA that I'll sell you for pennies on the dollar as well!
'


Where in California is your heavily discounted beach front property located?
hero member
Activity: 809
Merit: 501
Okay, so the owner of the biggest pool for UTC back in the early days helped start CAI (with several other pool operators, though I'm not sure if any were related to UTC). Unfortunately, the editing and deleting of old posts makes it difficult to "check and investigate better". Stuhlman probably had a bunch of UTC, and he probably cashed out a long time ago as well. Such is life. But changing to 100% PoS is no panacea -- it just makes things messy and ultimately I don't think it's likely to do much other than allow all the GPU miners to quit supporting Ultra. That's fine I suppose -- let all the big bag holders continue to hold and try to figure out ways to get people to invest in UTC. But if you're trying to tell anyone that investing in UTC now is a good idea, I've got some beach front property in CA that I'll sell you for pennies on the dollar as well!

You have some great insight, trogdorjw73. People should listen to you if they want 'smart' investors.

I don't understand your disdain with Scrypt-Jane (more appropriately named scrypt-chacha). I agree on the point you made about the NFactors scaling way too quickly at the beginning and killing momentum from initial investment. But isn't it good now with the NFactor changes far between (I'm thinking more yacoin of course)? I think around 1 year between NFactor changes would be more ideal although I admit pretty arbitrary. VertCoin (4 year between each NFactor change) is apparently going to get hit with ASICs, and I for one can't stand those scammy companies.

I also wouldn't overlook the hybrid POW/POS. I mean as the volume of coins increases over time, the percentage of coins created by POS increases over POW. You become an almost POS only coin when 95% of the coins that enter circulation each day come from POS. I'm too lazy right now to calculate when that would happen, but you get my point.
member
Activity: 76
Merit: 10

What's the time-frame on the minecraft plugin? Why not make that the main priority?
hero member
Activity: 482
Merit: 500
No!  Stuhlman was the owner of Nitro and Nitro2 miningpool and he was a supporter and community member of UTC.
Sthulman started his own coin after and he has never been involved in the dev team of UTC.

Please check and investigate better before you give wrong information here that can be harmful.

What is wrong with all does ppl who are talking garbage and try to tell those things here as it are facts?

Now like this trogdorjw73, wtf is he talking about that the UTC team created and abandoned CAI and then switched to CAIx???

So this is another dude like flobdeth and kingpin who are making false accusations and telling lies !

And what about UTC is old news and nobody want it Angry Huh I am happy that you cashed out.
So what you are doing here now, telling fud and lies Huh



Considering this same team created Caishen (CAI) and then abandoned that and switched to CAIx (....)

..... Since UTC is basically old news, no one is really interested in it...

.....Since this same team did CAIx, I checked my interest so far and it does look as though scaling is not happening...

....Anyway, I gave up on Ultracoin last week and cashed out....
1) Hold on, wasn't the Caishen Project started by Ultracoin people? I know at least one of the CAI/CAIx major guys (Stuhlman) runs Nitro.org, and Ultra.Nitro.org was certainly one of the biggest UTC pools (though I haven't checked to see if that's still the case). I've been poking around trying to find an archived version of the CAI announcement thread but have not found one yet. Anyway, whether or not the UTC team is involved at all with CAI/CAIx is somewhat irrelevant, as the fact is the coin is basically being changed in a similar fashion: out with Scrypt-Jane, in with 100% PoS.

2) If you don't think Ultracoin is old news, I'm sorry, but the coin was launched ages ago in Internet time. It's over six months old now, SJ has scaled N-Factor all the way up to 13 now, and rewards were changed from 50 to 15 UTC. Just reading the posts in this thread makes it pretty clear that the coin is languishing and people are trying to figure out how to make their UTC holdings actually have value again.

3) Cashing out is merely me pointing out that I don't have any stake one way or the other at this stage. If UTC goes "to the moon", I've missed that rocket -- just like I've missed the Vericoin rocket and many other so-called "rockets". But if they don't actually clear the gravitational well of Earth, rockets end up crashing into the ground, and I've missed a lot of those as well.
Okay, so the owner of the biggest pool for UTC back in the early days helped start CAI (with several other pool operators, though I'm not sure if any were related to UTC). Unfortunately, the editing and deleting of old posts makes it difficult to "check and investigate better". Stuhlman probably had a bunch of UTC, and he probably cashed out a long time ago as well. Such is life. But changing to 100% PoS is no panacea -- it just makes things messy and ultimately I don't think it's likely to do much other than allow all the GPU miners to quit supporting Ultra. That's fine I suppose -- let all the big bag holders continue to hold and try to figure out ways to get people to invest in UTC. But if you're trying to tell anyone that investing in UTC now is a good idea, I've got some beach front property in CA that I'll sell you for pennies on the dollar as well!
hero member
Activity: 482
Merit: 500
@ RichardMiner, please be more polite and stop instigating irrational discussion. Everyone's words have value here, including your own, but you musn't deploy ad hominem attacks on other members, especially if you claim they are lying. You are only injecting hostility into the thread.
Common Rapture333... don't call on me here.

Read the posts below. Only false information and lies without any proof.

Don't address to me, address to them please !

(...) I see UTC (which I once thought has great potential) has been used and abused by the owners (....)
.....POS does nothing but benefit large holders of a coin, which I guess suits the "new" owners just down to the ground, though I see no change in any leadership, merely his "mate" saying he's now in charge (convenient) it takes the small miners/investors out of the equation, well it takes miners out of the loop all together. 
You can't mine it, only way to make anything off it is to have mined it from the start and held. 
All they want right now is for mass buys so they can dump all over you's.  Not the first time, won't be the last
POS/POW together is a good idea, bot going 100% POS will be the end of UTC!!!
Obviously I have been mining longer then they have been developing!
Going full POS offers nothing new, it offers death.
.......
The dev team is not making enough money, and that is why they want to go POS.
They obviously have lots of UTC and no hashing power, that is why they want to go full POS.
They have been stealing shares from their new dev. pool since day one, now this.... OMFG

Considering this same team created Caishen (CAI) and then abandoned that and switched to CAIx (....)
..... Since UTC is basically old news, no one is really interested in it...
....Since this same team did CAIx, I checked my interest so far and it does look as though scaling is not happening...
....Anyway, I gave up on Ultracoin last week and cashed out....
Look me up in another six months and feel free to apologize when UTC has only dropped further in value. Seriously, I don't have anything inherently against this coin, but it tried something new and basically it has failed. Now people want to try and rescue it, but that's like breaking up with your girlfriend and then proposing to her a week later! Going 100% PoS won't likely kill UTC any more than it has killed dozens of other coins, and UTC has to either give up completely or try to change, but if I'm looking for coins -- for speculation, mining, whatever -- then I'd much rather get in at the start of a new coin than wait for a revival of a dying coin.

R.I.P. UTC PoW; please take Scrypt-Jane with you while you're at it.
full member
Activity: 181
Merit: 100
No!  Stuhlman was the owner of Nitro and Nitro2 miningpool and he was a supporter and community member of UTC.
Sthulman started his own coin after and he has never been involved in the dev team of UTC.

Please check and investigate better before you give wrong information here that can be harmful.




What is wrong with all does ppl who are talking garbage and try to tell those things here as it are facts?

Now like this trogdorjw73, wtf is he talking about that the UTC team created and abandoned CAI and then switched to CAIx???

So this is another dude like flobdeth and kingpin who are making false accusations and telling lies !

And what about UTC is old news and nobody want it Angry Huh I am happy that you cashed out.
So what you are doing here now, telling fud and lies Huh



Considering this same team created Caishen (CAI) and then abandoned that and switched to CAIx (....)

..... Since UTC is basically old news, no one is really interested in it...

.....Since this same team did CAIx, I checked my interest so far and it does look as though scaling is not happening...

....Anyway, I gave up on Ultracoin last week and cashed out....
1) Hold on, wasn't the Caishen Project started by Ultracoin people? I know at least one of the CAI/CAIx major guys (Stuhlman) runs Nitro.org, and Ultra.Nitro.org was certainly one of the biggest UTC pools (though I haven't checked to see if that's still the case). I've been poking around trying to find an archived version of the CAI announcement thread but have not found one yet. Anyway, whether or not the UTC team is involved at all with CAI/CAIx is somewhat irrelevant, as the fact is the coin is basically being changed in a similar fashion: out with Scrypt-Jane, in with 100% PoS.

2) If you don't think Ultracoin is old news, I'm sorry, but the coin was launched ages ago in Internet time. It's over six months old now, SJ has scaled N-Factor all the way up to 13 now, and rewards were changed from 50 to 15 UTC. Just reading the posts in this thread makes it pretty clear that the coin is languishing and people are trying to figure out how to make their UTC holdings actually have value again.

3) Cashing out is merely me pointing out that I don't have any stake one way or the other at this stage. If UTC goes "to the moon", I've missed that rocket -- just like I've missed the Vericoin rocket and many other so-called "rockets". But if they don't actually clear the gravitational well of Earth, rockets end up crashing into the ground, and I've missed a lot of those as well.
full member
Activity: 181
Merit: 100
@ RichardMiner, please be more polite and stop instigating irrational discussion. Everyone's words have value here, including your own, but you musn't deploy ad hominem attacks on other members, especially if you claim they are lying. You are only injecting hostility into the thread.

Common Rapture333... don't call on me now here.

Read the posts below. They are just only putting wrong/false information on the tread and possible put that there as lies without any proof just to harm and attack.

So don't address to me, address to them please !



(...) I see UTC (which I once thought has great potential) has been used and abused by the owners (....)
.....POS does nothing but benefit large holders of a coin, which I guess suits the "new" owners just down to the ground, though I see no change in any leadership, merely his "mate" saying he's now in charge (convenient) it takes the small miners/investors out of the equation, well it takes miners out of the loop all together.  
You can't mine it, only way to make anything off it is to have mined it from the start and held.  
All they want right now is for mass buys so they can dump all over you's.  Not the first time, won't be the last



POS/POW together is a good idea, bot going 100% POS will be the end of UTC!!!
Obviously I have been mining longer then they have been developing!
Going full POS offers nothing new, it offers death.
.......
The dev team is not making enough money, and that is why they want to go POS.
They obviously have lots of UTC and no hashing power, that is why they want to go full POS.
They have been stealing shares from their new dev. pool since day one, now this.... OMFG




Considering this same team created Caishen (CAI) and then abandoned that and switched to CAIx (....)
..... Since UTC is basically old news, no one is really interested in it...
....Since this same team did CAIx, I checked my interest so far and it does look as though scaling is not happening...
....Anyway, I gave up on Ultracoin last week and cashed out....
hero member
Activity: 482
Merit: 500

What is wrong with all does ppl who are talking garbage and try to tell those things here as it are facts?

Now like this trogdorjw73, wtf is he talking about that the UTC team created and abandoned CAI and then switched to CAIx???

So this is another dude like flobdeth and kingpin who are making false accusations and telling lies !

And what about UTC is old news and nobody want it Angry Huh I am happy that you cashed out.
So what you are doing here now, telling fud and lies Huh



Considering this same team created Caishen (CAI) and then abandoned that and switched to CAIx (....)

..... Since UTC is basically old news, no one is really interested in it...

.....Since this same team did CAIx, I checked my interest so far and it does look as though scaling is not happening...

....Anyway, I gave up on Ultracoin last week and cashed out....
1) Hold on, wasn't the Caishen Project started by Ultracoin people? I know at least one of the CAI/CAIx major guys (Stuhlman) runs Nitro.org, and Ultra.Nitro.org was certainly one of the biggest UTC pools (though I haven't checked to see if that's still the case). I've been poking around trying to find an archived version of the CAI announcement thread but have not found one yet. Or is that what is meant by "the new managers"? If the original team is now gone (probably focusing on CAIx and their next great coin), that doesn't really change the fact that CAI was started by UTC people, then changed to 100% CAIx in the same way UTC is going to become 100% PoS. So at this stage, whether or not the UTC team is involved at all with CAI/CAIx is somewhat irrelevant, as the fact is the coin is basically being changed in a similar fashion: out with Scrypt-Jane, in with 100% PoS. (And as I said before: good riddance to Scrypt-Jane!)

2) If you don't think Ultracoin is old news, I'm sorry, but the coin was launched ages ago in Internet time. It's over six months old now, SJ has scaled N-Factor all the way up to 13 now, and rewards were changed from 50 to 15 UTC. Just reading the posts in this thread makes it pretty clear that the coin is languishing and people are trying to figure out how to make their UTC holdings actually have value again. If UTC had been increasing slowly in value over the past six months, sure, it would be exciting news; right now it's just continuing this slow downward spiral. Hence....

3) Cashing out is merely me pointing out that I don't have any stake one way or the other at this stage. If UTC goes "to the moon", I've missed that rocket -- just like I've missed the Vericoin rocket and many other so-called "rockets". But if they don't actually clear the gravitational well of Earth, rockets end up crashing into the ground, and I've missed a lot of those as well. I mined UTC for a solid two weeks I believe, and at the time it would have been worth around 10X the current value. I held onto it thinking at the time that the higher N-Factors would somehow increase the value of UTC, but obviously that was flawed thinking.

So why make a comment if I'm no longer involved? Why does anyone comment on the BCT forums? Hahaha.
sr. member
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Remember; for Stake Minting at V1.0.4.1 you will have to keep your wallet open for 24/7 and Enable Stake Minting with your password !

Explain why include password?

It is only a recommendation, but it is strongly recommended that you add a password. Doing so encrypts you wallet.dat file which protects you against thieves, government agencies, hackers, etc.
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