Topic: [ANN] Ʉ Umbrella | Insured Cryptocurrencies | Umbrella-LTC | Litecoin Insurance - page 3. (Read 42583 times)

https://www.weminecryptos.com/forum/tracker/issue-1086-litecoindogecoinumbrella-ltc-triple-merged-mining/

Ticket got changed to considering.  This would add 20+GH/s in one fell swoop.  Reach out to https://www.wemineltc.com/ and lets get this added.  Increased hash will help spread awareness.

What are the biggest Litecoin Pools?  Maybe top 10?

Yup, social media is our friend.

Got into this coin at the right time!!! Excited to see it on Bittrex. We need to get the word out now.

Congratulations!!!! Listed on Bittrex 

Lets keep rockin with Umbrella coins!!!!!

Many thanks for the quick response. Works perfectly!  Now, my several dozen uLTC coins are safely in my wallet after merged mining them.  Good luck with this endeavor.

It's hard to give a firm date.  We have a pentest scheduled this week with one exchange.  Hopefully after the completion of that we will get listed.  I will keep everyone updated as details emerge.

when we will be happy for other exchanges ?
upd
as for me, uLTC is last slim chance for scrypt-asic owners
that is why we look forward to MINT, POL, CRY... etc
what do you think, comrades ?

Make sure you download the latest file.

Create a umbrella-ltc.conf file in ~/AppData/Roaming/Umbrella-LTC with the info below.

addnode=104.131.135.126
addnode=162.243.240.231
addnode=128.199.148.246
addnode=104.131.135.122
addnode=104.131.227.173
addnode=128.199.148.245

Quick question [probably a noob question] - I've downloaded the Umbrella-LTC wallet; however, upon bringing it up it notes: No block source available...[ 3 week(s) behind ]...

All of my other cryptocurrency wallets function fine...

I'm on Windows.

Got fully verified. 7/7 Stars, links should be up shortly on the coinsource page.

Just wanted to give an update.

I am working on improving the thread by reducing the clutter and making the concept easier to understand.  It's not so difficult if broken down properly.  Based on feedback I think we can do a better job.  Also should have a timeline up soon with accomplishments and future goals.

We have 2 pentests scheduled for next week.  This means another exchange is coming with much higher volume than Atomic.  We love Atomic and the team behind it and thank them for supporting us early on.  

I am also actively seeking out new team members to help us on many fronts.  Willing to compensate for those interested in supporting our cause and contributing time to projects we are actively working on.  We are most interested in a developer and social media person.


--Robert

I've gotten a couple questions about Dogecoin moving to merge mining and what does this mean.

What this means to us is that you will soon be able to mine Umbrella-LTC, Dogecoin, and Pesetacoin all while mining Litecoin as the primary coin (participating pools).  As they will be adopting AuxPOW such as we have, their hope is that this will increase hash and better secure the network.

Good luck to them.

That's and interesting statistic 4/1 distribution.

I think that is a stat worth measuring. This coin is great, I think when miners understand how simple it is to mine they will realize what a good asset it is to have in their coin portfolio. They can either trade or let it sit as an added insurance feature to their portfolio. Of course right now that would be on Atomic trade as they are the only Umbrella approved Exchange for the insurance aspect.

I have already pointed all my scrypt miners to a merged mining pool and am reaping the benefits of 3 coins on GMC. I see this coin rocketing once it is just a little better understood. It has a dual purpose, unlike the traditional cookie cutter pump and dump coins.

uLTC is here to stay I would say 

I cant wait till we see this on more merged mining pools and in the wallets of many more miners. Will be good for the coin value 

I have been merge mining this for the last three days and I think it's a great way to go! It mines at about 4 ULTC to 1 LTC with my current setup and I like the fact that I get to mine two coins at the same time.

Hard Core Miners,
I have noticed you don't host regular LTC on a pool, and I'm sure there is reasons for that. But wouldn't it be worth looking into now hosting LTC and set it up as merged mining pool with uLTC and possibly other coins? In the beginning you had a lot of happy miners and G/H in your uLTC pool, perhaps they would return and throw that hash back your way and keep mining uLTC and pick up the LTC too. You have a good working pool etc. and communicate well, so why not give it some thought. Many in here were there at the start, but we all realized,,, well I did, that the coin was intended to be (logically so) merged with LTC hence uLTC  

THX for any thoughts that way

I'm going to keep my eyes on this one..Looks very promising if it can get accepted!

To keep this thread on track and free from clutter, as I have mentioned earlier I will remove baseless accusations of scams.  If there is evidence to support your claim, then present it for all to see.  If not, it's just FUD.

To respond to werwohl,

Our idea behind adopting the auxialry chain role was to break into the market easily.  Like you said, people who are already mining Litecoin, why wouldn't you also mine some uLTC?  We will see how this pans out.  We see other coins who are merged mining gaining large hash (1 is at roughly 1/4 of Litecoins total hash).  I assume this takes some time.  Again, we are only 5 days old.

I agree with what you say about people trusting a third party institution.  These are the same people who claim centralization is pure evil, but yet they trade and conduct business on centralized exchanges?  What's the logic in that?

If the consensus is that this third-party is deemed untrustworthy, what is everyone's thoughts on bringing that portion back in-house, and creating a foundation to fulfill the duties of claims and investigations?  This would be a good use-case for a foundation with real purpose.  Not marketing or forming one because Bitcoin has one.  This group would do real work that would benefit the community over time.  It can be structured fairly with 5, 7 or 9 members voted-in.  We can setup a multisig wallet that house the insurance funds? 

Would this be more accepted by the community?  How would these members be compensated for their work?  How would we find them? 

These are some questions to think about.  I am open for discussion on any matter or concern as it pertains to these coins.


--Robert

1) Merged mining: Is it really the same like mining Litecoin and Umbrella LTC with full hash rate separately? Why is not everybode merge mining if that's the case?

2) I might consider myself as Crypto-Newbie and have talked a lot with "non-tech" people about Cryptocurrencies. They don't get the revolutionary point and they don't care about the fascinating technology behind. All they ask is, why they should use them instead of credit cards etc. and where they can pay.

I think Umbrella coins could be the bridge to mainstream adoption! Think of PayPal - I really disregard them as seller, but from a buyer's perspective they are great. They offer security - or at least the feeling of security. This makes them successful despite enormous fees for the seller. If you can setup a similiar payment processor which is easy to use, has low fees, fairer dispute resolution and the backup of "umbrella insurance" it may be a huge success. I love the idea of secure exchanges. Also easy usability - I had smartphones long before the iPhone came out and nobody understood my need or fascination for them - think how Apple changed the market after that.

Cryptonerds might not like this kind of "institutional backup", but people generally trust institutions more then technical elegant "trustless" solutions - so yes, go for it - build the bridge for mainstream adoption

Not sure, we'll take care of it.

Thanks