way too risky, another party trying could just buy you out.in any case this week will be very very interesting, and the next potentially life changing for some.
Topic: [ANN][URO] A Real Long Term Currency: 1 Uro = 1 Metric Tonne Urea Fertilizer - page 171. (Read 247332 times)
June 30, 2014, 09:57:06 AM
someone again bought up the sell walls XD, i wouldn't be putting those if i was looking to get the 12.500 for a shipment way too risky, another party trying could just buy you out.
in any case this week will be very very interesting, and the next potentially life changing for some.
way too risky, another party trying could just buy you out.in any case this week will be very very interesting, and the next potentially life changing for some.
June 30, 2014, 07:59:47 AM
Looking through the thread the dev has done this before, disappeared for a few days and then came back so I wouldn't worry right now.
Someone on twitter said they are actually in contact about putting in an order for 12,500 tons of Urea to see if this thing is real and hopefully have an update today
https://twitter.com/CryptoConchita/status/483361952744628224
Someone on twitter said they are actually in contact about putting in an order for 12,500 tons of Urea to see if this thing is real and hopefully have an update today
https://twitter.com/CryptoConchita/status/483361952744628224
June 30, 2014, 06:01:31 AM
7 days no posts. Dev, whats going on?
Must be a Scam the Dev have run off .............
Most certainly he is working very hard to make the nuro wallet working before July 9th, as well as doing some other very important things that need to be done before then.
June 30, 2014, 04:08:37 AM
7 days no posts. Dev, whats going on?
June 28, 2014, 11:35:54 PM
Maybe :p
June 28, 2014, 11:34:03 PM
Lol. Are you the one I'm twittering about that with?
June 28, 2014, 11:13:36 PM
Someone came in sneakily and bought a bunch of URO, I had to panic buy with them lol.
June 28, 2014, 10:35:32 PM
The biggest problem with URO is that it's basically handing all the block rewards over to a couple of anonymous miners with between 500 and 1000 graphics cards each. I was running about 10 Mhash (4 7970's) overnight on p2pool, which has a pool rate of 80 Mhash, and not a single block has been found. This seems like exactly the same thing as what I'd seen going on with Catcoin (and probably most other smaller altcoins).
These anonymous miners are completely destroying the market value of URO because us farmers who **actually buy Urea** do not have a clue who they are. I have absolutely zero confidence in a blockchain that costs something like 5 or 10% of the value of Urea being traded when that cost goes to undisclosed mining farms that 95% attack the network whenever the price starts going towards $1.
But it is, however a very interesting toy that right now I might speculate on with a reasonable price of say $0.50 each. If the Uro foundation wants to pay miners too much, that's fine with me, but before this is going to be a serious asset-backed currency, the centralized fertilizer production backers of this coin have some explaining to do on why they think centralized mining is a good idea, and how they are going to insure farmers if a big miner halts trading or double-spends. I have not seen evidence the backers of this coin actually understand how much the mining overhead is going to cost them right now.
If the foundation and the fertilizer manufacturers actually want a distributed mining capacity, I have some software changes we can try, but if I'm going to fix someone's software and they are going to profit from it, I expect to get paid a retainer, by physical delivery of Urea first.
any market value for URO will not depend on miners, it will depend on the urea distribution for URO.
it's obvious that for a mined coin that will be tied to urea, the miners are not the end users of the coin. they will sell their mined coins to people who will trade that coin for urea. (unless there is a farmer co-op owned mining factory lol)..
AND should this all happen as suggested by the protocol, the whole economy of URO will see a dramatic shift. no doubt influencing all the other coins available now as well.
As I said before, nothing in commodities is easy. You have to get the right balance of mining security overhead to trade.
If there are not enough miners, there's no security, and one double-spend and all the farmers switch to counterparty assets issued by their farmers co-op.
If there are too many miners, it will cost 5 or 10% of the value of the urea to pay the miners to buy electricity, and farmers will just pay the 3-5% overhead the existing system charges.
(And I do have a share in the wasp collective. Owning and operating mining rigs seems a lot like farming.. you spend huge capital and input costs on something that loses money 3/4 of the time.)
June 28, 2014, 10:26:11 PM
the price of urea will still fluctuate. there will always be trading advantages in URO to BTC
'will still fluctuate' is the understatement of the week.
June 28, 2014, 10:22:27 PM
Yea I did have a question about that to True. You mentioned an URO exchange. How far away is that being that I doubt many farmers are going to be in the market with purchasing with BTC.
Been there done that, and I spent $6500 on Urea this spring. Now who's going quote me a price in BTC, URO, or Soybeans on shipping a container of 20 tons of urea to Iowa? Please include all costs for insurance.
If the damn thing actually shows up, and most importantly, passes a bunch of quality/purity/standards checks, I bet you everyone at the coffee shop will have coinbase and/or cryptsy accounts a few days later. The last thing you want on a field is 99% urea with 1% of something that kills plants.
June 28, 2014, 03:04:27 AM
Did anyone notice the 5 BTC buy order on bittrex at 72k sats??
Something is brewing
Edit: Order Removed in few minutes.
Something is brewing
Edit: Order Removed in few minutes.
June 28, 2014, 03:00:04 AM
Hi True-asset,
We know you must be quite busy with such a large project. Can you take some time for the URO community and let us know where the interviews will be held and some updates on the NURO mobile wallet.
We know you must be quite busy with such a large project. Can you take some time for the URO community and let us know where the interviews will be held and some updates on the NURO mobile wallet.
June 27, 2014, 11:58:04 PM
They could. I still dont see that as a flaw tho because as long as sales are being made the price would go up once people who have URO know sales are truely being made. I am just saying in general for the farmers they are trying to help.
Its not a flaw. Im saying if any importer were to do this. Instant price jump.
June 27, 2014, 09:16:12 PM
the price of urea will still fluctuate. there will always be trading advantages in URO to BTC
June 27, 2014, 07:05:56 PM
Ok I see your point. Even so if they figure the price to level at the going rate of Urea eventually do you see importers coming up with the BTC needed to buy an entire shipment after the initial buys they make? I know they can hoard up the cheap URO now but that only gets so much if this all does actually happen.
Well the btc price should stabilise relative to the price of urea anyway right? It'll probably be less I think, otherwise why would any trader/importer go to the trouble of buying btc to get urea? Is there a richlist for URO? I would imagine that if URO is all that it promises to be then GES would be holding quite a lot of URO.
June 27, 2014, 06:59:42 PM
Ok I see your point. Even so if they figure the price to level at the going rate of Urea eventually do you see importers coming up with the BTC needed to buy an entire shipment after the initial buys they make? I know they can hoard up the cheap URO now but that only gets so much if this all does actually happen.
June 27, 2014, 06:51:54 PM
They could. I still dont see that as a flaw tho because as long as sales are being made the price would go up once people who have URO know sales are truely being made. I am just saying in general for the farmers they are trying to help.
Its not a flaw. Im saying if any importer were to do this. Instant price jump.
June 27, 2014, 06:49:56 PM
They could. I still dont see that as a flaw tho because as long as sales are being made the price would go up once people who have URO know sales are truely being made. I am just saying in general for the farmers they are trying to help.
June 27, 2014, 06:41:15 PM
Yea I did have a question about that to True. You mentioned an URO exchange. How far away is that being that I doubt many farmers are going to be in the market with purchasing with BTC.
Not farmers. I may be wrong about this but I would imagine that farmers by from importers. Why wouldnt another importer (aside from the NIERs) just buy URO cheap, then exchange for urea from the URO foundation members?
June 27, 2014, 06:29:08 PM
Yea I did have a question about that to True. You mentioned an URO exchange. How far away is that being that I doubt many farmers are going to be in the market with purchasing with BTC.
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