FAQ - Frequently Asked Questions
Is URO coin a scam?You have to come to your own conclusion here but when do you see scammer show his real identity and fight for his coin with a passion https://www.youtube.com/watch?v=HsHF0C_gPck, and don't forget this coin had no ipo, no premine, just an active competent dev.
What is URO coin?
Uro is the first cryptocurrency that is backed by a physical commodity Urea (revolutionary), first company to provide this service is GES currently where 1 Tonne of Urea will be exchanged for 1 URO, soon other companies will join in the revolution, its essentially like a bond.
Why use URO coin when we could use bitcoins?
Urea's price is volatile and depends on many factors and so is bitcoin, you cannot peg two volatile thing against each other, Uro is essentially a future bond, that you would always get 1 tonne of Urea for, its like how the government bank started with gold backing the dollar.
Why not use coloured coins?
URO is getting many new features, including a live urea exchange market for urea trading, mobile app, and many more features where having your own coin makes this easier to implement
Why would these companies give you $300 worth of Urea for $6?
The company is not going to sell the URO coin at a loss, they will simply hold it, until the market catches up the price of Urea, which will not take much btc, and will happen as soon as news of URO coin spreads to importers/exporters
Why would the first company take such a big risk???
The main reason Uro coin is undervalued right now is due to the uncertainty of the product being delivered, only GES knows if they are going to deliver on this order, however when they do, the value of URO coin will become tied Urea, so essentially the risk for the company is zero, because if they deliver the coin goes up in value maybe not instantly but it will go up.
The community will pool resources together to call up all importers/exporters on URO coin and advice them on the advantages of using URO coin, and show them how to buy it from the exchanges, this will eat up the sell orders and spread the coin to the people who are going to use it.
URO can never be tied to value of Urea, people will just crash the market
If dumpers dump the coin as we reach higher values, the market will not crash into nothing, as the coin will always be backed by a physical commodity so the dumpers would have to be stupid to dump below Urea price when 1 Uro = 1 tonne of urea, and the other traders will simply accumulate the coins at the discounted prices, bare in mind, the coin brings a lot of advantage so it might trade above value.
A better analogy for people who still don't understand, imagine if Bob sells 1Kg gold bar tokens/vouchers on an open market worth $10,000 for $5,000 minimum, originally people would be skeptic, but as soon as one person confirms that the token can indeed be exchanged for gold bars, people will rush in to buy the discounted token even if its just 5% cheaper, so that there is no more left, that's power of something being backed by commodity, which is why most banks used to gold to back the paper notes originally.
The minimum size order for buy urea is 12,500 tonnes why?
These are large companies that deal with big orders, they probably don't want to deal with small orders, however when this coin becomes more mainstream, I am sure resellers or other companies will allow for smaller orders.
What are the advantages to using URO coin?
Urea cannot be stored, so you only buy as much as you need and cannot buy and store, URO changes that by allowing farmers to buy URO for the future.
Price of Urea can be a speculative market this allows traders to speculate on the price
Plenty of fees can be saved instead of doing bank transfers
No need to trust third party with future orders, any company who agree to the term will always accept 1 Uro for 1 tonne of Urea
Whats planned next?
New logo - thread link
Currently the dev is working on bringing us the mobile wallet - picture
Current articles on URO
Coinsource
Current FUD attempts
Dev is associated Asiacoin scam?
Dev promoted the revived Asiacoin which is not a scam, however it would not have been his fault had he promoted the original asiacoin, we are all only human and cannot predict the future.
Dev is not same person as the one in the pictures
The picture altcoinherald posted makes it looks like its different due to the lightning, however if you look at other pictures, you will see that he is the same person
Now swallow this one.