[ANN][URO] A Real Long Term Currency: 1 Uro = 1 Metric Tonne Urea Fertilizer - page 188.

AlfaONE

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Quote from: BitcoinBaBa on June 11, 2014, 05:30:53 AM

Quote from: true-asset on June 11, 2014, 05:02:55 AM

Quote from: danonthehill on June 11, 2014, 04:48:26 AM

How does URO fit in with the government subsidization of urea in India?:

"Urea is imported by three STEs (state trading enterprises) - Indian Potash Ltd (IPL), MMTC and STC on behalf of the government to meet domestic shortfall. The country produces about 22 MT against an annual domestic demand of 33 MT."

"Urea is provided to farmers at a fixed subsidized maximum retail price (MRP) of Rs 5,360 per tonne. The difference between the cost of production and MRP of urea is provided as subsidy."

5,360.00 INR = 90.4319 USD

Are there farmers in Rajasthan buying subsidized Urea for 3 times the price?

A typical small to medium farmer without the right connections cannot access Urea at this subsidised price. To receive this subsidy they must go through a lot of bureaucracy and significant corruption occurs at this level. Although it is displayed at this price almost no one can actually make a real purchase of Urea for 5360 INR - most pay more then 3 times this amount.

In other words, this subsidy/discount gets absorbed by the middle elements of the supply chain - such as the agents.

This kind of fake "subsidy" is "available" in many developing nations.

I have to agree with this . Such issues are discussed in Indian news channels regularly.The rampant corruption in the system is one of the main causes of many farmers committing suicide. If farmers start using URO they are entitled to equivalent metric tonne of Urea and need not worry about the prices and the manipulation in the system. This could be revolutionary if implemented correctly.

Also http://timesofindia.indiatimes.com/business/india-business/Government-plans-urea-price-hike-to-curb-fertilizer-subsidies/articleshow/36294375.cms

agree....

BitcoinBaBa

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Quote from: true-asset on June 11, 2014, 05:02:55 AM

Quote from: danonthehill on June 11, 2014, 04:48:26 AM

How does URO fit in with the government subsidization of urea in India?:

"Urea is imported by three STEs (state trading enterprises) - Indian Potash Ltd (IPL), MMTC and STC on behalf of the government to meet domestic shortfall. The country produces about 22 MT against an annual domestic demand of 33 MT."

"Urea is provided to farmers at a fixed subsidized maximum retail price (MRP) of Rs 5,360 per tonne. The difference between the cost of production and MRP of urea is provided as subsidy."

5,360.00 INR = 90.4319 USD

Are there farmers in Rajasthan buying subsidized Urea for 3 times the price?

A typical small to medium farmer without the right connections cannot access Urea at this subsidised price. To receive this subsidy they must go through a lot of bureaucracy and significant corruption occurs at this level. Although it is displayed at this price almost no one can actually make a real purchase of Urea for 5360 INR - most pay more then 3 times this amount.

In other words, this subsidy/discount gets absorbed by the middle elements of the supply chain - such as the agents.

This kind of fake "subsidy" is "available" in many developing nations.

I have to agree with this . Such issues are discussed in Indian news channels regularly.The rampant corruption in the system is one of the main causes of many farmers committing suicide. If farmers start using URO they are entitled to equivalent metric tonne of Urea and need not worry about the prices and the manipulation in the system. This could be revolutionary if implemented correctly.

Also http://timesofindia.indiatimes.com/business/india-business/Government-plans-urea-price-hike-to-curb-fertilizer-subsidies/articleshow/36294375.cms

Geenstijl

legendary

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Quote from: danonthehill on June 11, 2014, 05:27:35 AM

What about non-fertilizer uses for Urea, couldn't URO be bought and manipulated up by this sector?

All markets can/are manipulated.

danonthehill

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What about non-fertilizer uses for Urea, couldn't URO be bought and manipulated up by this sector?

true-asset

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Merit: 250

Uro: 1 URO = 1 metric tonne of Urea N46 fertilizer

Quote from: danonthehill on June 11, 2014, 04:48:26 AM

How does URO fit in with the government subsidization of urea in India?:

"Urea is imported by three STEs (state trading enterprises) - Indian Potash Ltd (IPL), MMTC and STC on behalf of the government to meet domestic shortfall. The country produces about 22 MT against an annual domestic demand of 33 MT."

"Urea is provided to farmers at a fixed subsidized maximum retail price (MRP) of Rs 5,360 per tonne. The difference between the cost of production and MRP of urea is provided as subsidy."

5,360.00 INR = 90.4319 USD

Are there farmers in Rajasthan buying subsidized Urea for 3 times the price?

A typical small to medium farmer without the right connections cannot access Urea at this subsidised price. To receive this subsidy they must go through a lot of bureaucracy and significant corruption occurs at this level. Although it is displayed at this price almost no one can actually make a real purchase of Urea for 5360 INR - most pay more then 3 times this amount.

In other words, this subsidy/discount gets absorbed by the middle elements of the supply chain - such as the agents.

This kind of fake "subsidy" is "available" in many developing nations.

danonthehill

hero member

Activity: 710

Merit: 500

How does URO fit in with the government subsidization of urea in India?:

"Urea is imported by three STEs (state trading enterprises) - Indian Potash Ltd (IPL), MMTC and STC on behalf of the government to meet domestic shortfall. The country produces about 22 MT against an annual domestic demand of 33 MT."

"Urea is provided to farmers at a fixed subsidized maximum retail price (MRP) of Rs 5,360 per tonne. The difference between the cost of production and MRP of urea is provided as subsidy."

5,360.00 INR = 90.4319 USD

Are there farmers in Rajasthan buying subsidized Urea for 3 times the price?

true-asset

sr. member

Activity: 252

Merit: 250

Uro: 1 URO = 1 metric tonne of Urea N46 fertilizer

Quote from: dleader on June 11, 2014, 12:09:26 AM

Just a thought would it not benefit the farmers to have the ability to purchase a prepaid URO card, to use as A. Currency B. acting hedge trader. This negates the necessity for a computer, and direct transfer from individuals in any local could take place without a middle man. Effectivly rendering any farmer a potential trader in URO. Granted they can hold on to the urea, or URO card directly. These cards could also be in smaller URO denominations. They would be sold and handled like phone minute cards, I've been to many rural places in 3rd world countries, phone cards are as prolific as soda these days.

If the local distributor had the ability to accept say .5 of a URO and the farmer still had .5 left on his card, he could chose to hold or sell at will. Price fluctuations will always be inherent in commodities due to supply and demand.

Paper wallets and brain wallets are definitely part of the plan involving the wholesalers for the next stage. We have not thought about cards but thanks for contributing this. Wholesalers will be trained to use Uro electronically while less frequent users can make do with paper wallets. If the Foundation donates Urea it would be in the form of Uro paper wallets, and Uro will be purchasable from Urea wholesalers.

For many farmers - understanding markets trends, cryptocurrency, finance, etc is a big problem indeed. However, if we just introduce a paper wallet which they can buy and hold as a certificate for Urea - then that is something everyone will understand. The best thing is that these certificates can be verified against counterfeiting due to the inherent power of the cryptocurrency network.

dleader

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Just a thought would it not benefit the farmers to have the ability to purchase a prepaid URO card, to use as A. Currency B. acting hedge trader. This negates the necessity for a computer, and direct transfer from individuals in any local could take place without a middle man. Effectivly rendering any farmer a potential trader in URO. Granted they can hold on to the urea, or URO card directly. These cards could also be in smaller URO denominations. They would be sold and handled like phone minute cards, I've been to many rural places in 3rd world countries, phone cards are as prolific as soda these days.

If the local distributor had the ability to accept say .5 of a URO and the farmer still had .5 left on his card, he could chose to hold or sell at will. Price fluctuations will always be inherent in commodities due to supply and demand.

true-asset

sr. member

Activity: 252

Merit: 250

Uro: 1 URO = 1 metric tonne of Urea N46 fertilizer

There are a couple of people mining on the old pre-fork blockchain, which has generated 2 blocks in the last few days. Please make sure you are running v1.0.0.1 of the wallet, which can be downloaded from github.com/uro-/uro/releases

wevus

member

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Long Term Investor with Short Term Memory Loss

Quote from: purplejaguar on June 10, 2014, 08:01:46 PM

Quote from: true-asset on June 09, 2014, 11:13:17 PM

Quote from: ruyijing on June 09, 2014, 08:54:09 PM

Quote from: purplejaguar on June 09, 2014, 04:15:58 PM

I looked through the Uro protocol and couldn't find anything online about the China and South Africa signers. Is there anything online about these companies or even about the people who signed in the documents (I didn't find much by Google)

i wish this coin will be good in the future.

More information will be provided when the legal team provides approval for us to post it. As you can understand each company has its own policies. Each of the Urea trading firms have signed many NDAs with numerous parties and there are things that we have to wait for legal to provide clearance on.

For Crown Team Corporation and CCL Pillay Group - we are aware that they do not have websites at the moment, and this is part of why Uro is needed - to revolutionize an inefficient Urea market based on sparse face to face connections into a modern, efficient and decentralized internet connected system that has transparency and speed. The Foundation is working out methods to deliver a press event that will ease the doubts that a few members are have regarding the legitimacy of every aspect of the Uro Protocol ratification.

Remember that baseless speculation of what is real or not does not contribute anything new to the discussion. Try to keep your comments based on facts, criticism and opinions regarding Uro itself - this thread is not intended for the discussion of personal issues - please start a new thread if you wish to criticize a person (unfortunately, it is likely that not many members will follow such a thread - since such discussions are rarely interesting for more then a few seconds). Missing information does not indicate dishonesty, but merely that the release of information can be improved - and we will keep improving the methods and content of information releases as the circumstances permit.

There are so many threads on this forum which are self-moderated to hide any negative posts and comments, but we believe in freedom and respect for everyone's rights and did not choose to go down that path.

There is nothing wrong with asking questions, and I will continue to do so before investing my BTC. I like what I have seen so far from some of the members of the URO foundation, but for others, information is hard to come by, so I will keep looking for that information.

+1. Need more just like yourself. Thank you

true-asset

sr. member

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Uro: 1 URO = 1 metric tonne of Urea N46 fertilizer

All forum discussion highlights have been posted on the blog at urofoundation.wordpress.com. Have a quick glance at least - most likely you would have missed out on at least some of the more interesting posts over the last 30+ pages.

true-asset

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Activity: 252

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Uro: 1 URO = 1 metric tonne of Urea N46 fertilizer

Quote from: MindGrenade on June 10, 2014, 10:08:43 AM

2. Will we see a richlist or top holders or URO, or does one exist already?

Anybody know of sites that can host a rich-list/top holders list for Uro? Please ask them to add Uro and post the site details here. Thanks

true-asset

sr. member

Activity: 252

Merit: 250

Uro: 1 URO = 1 metric tonne of Urea N46 fertilizer

Quote from: byronit on June 10, 2014, 08:50:00 PM

Wallet is not syncing today connections all timing out??

Are you running the latest Uro wallet from github.com/uro-/uro/releases?

true-asset

sr. member

Activity: 252

Merit: 250

Uro: 1 URO = 1 metric tonne of Urea N46 fertilizer

Quote from: fiftyseven on June 10, 2014, 11:57:29 AM

Quote from: Geenstijl on June 10, 2014, 11:46:10 AM

Quote from: fiftyseven on June 10, 2014, 11:43:01 AM

This is all very utopian and idealistic, but fundamentally in the real world in which we live right now, how are the producers going to get paid in order to even break even or profit from the sales of urea? It's not like they can pay their utility bills with URO.

Wow... why do people that do not have a clue about how commodity- and stockmarkets work, trade cryptocurrencies...

Ok I shall change my education and career for this. Crypto is a hobby and interest for me, nothing more. I'd be interested if rather than putting me down you could explain it, otherwise I will attempt to educate myself.

In my narrow, limited world view, I just don't understand how you can place a value on something that noone else can use as a unit of value?

Value can be place on Urea because it does have value for everybody - its what is growing half the food on the planet.

true-asset

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Activity: 252

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Uro: 1 URO = 1 metric tonne of Urea N46 fertilizer

Quote from: fiftyseven on June 10, 2014, 08:52:55 PM

Looking at the protocol, I notice only members who have traded 2 million metric tonnes of urea in the last three years are eligable, yet the commitment you are seeking is 12,500 metric tonnes over ten years? Is that a minimum and maximum value or just a minimum? If it's their total commitment, this is just a tiny experiment presumably?

Actually there is no legal limit to the amount of Urea backing (although a practical limit is imposed by the fact that the supply of Uro is limited - hopefully this gives you a better idea of why we went with 1 million Uro in the first 6 months then 100K per year - it is to allow management of the Urea purchase growth). Article 1 states the Member will supply 12,500 MT Urea to any (understand as each if that makes things clearer for you) purchaser. There is no limit to the amount of Urea available. If you have 1 Million Uro then you can purchase 1 Million MT Urea by making 80 separate purchase orders (which conveniently fits on 80 ships).

12,500MT Urea fits on one ship - that is why this is the amount that was identified in the Uro Protocol.

This question was answered back in page 24.

We are posting all these important answers to the blog for easier access.

true-asset

sr. member

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Uro: 1 URO = 1 metric tonne of Urea N46 fertilizer

Quote from: fiftyseven on June 10, 2014, 07:43:57 PM

BTW your block explorer seems to be stuck.

Yes - we have emailed cryptexplorer and altexplorer with requests to update to the latest version of Uro.

fiftyseven

sr. member

Activity: 427

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Looking at the protocol, I notice only members who have traded 2 million metric tonnes of urea in the last three years are eligable, yet the commitment you are seeking is 12,500 metric tonnes over ten years? Is that a minimum and maximum value or just a minimum? If it's their total commitment, this is just a tiny experiment presumably?

true-asset

sr. member

Activity: 252

Merit: 250

Uro: 1 URO = 1 metric tonne of Urea N46 fertilizer

Its becoming difficult for new members to read through all the information on the 30+ pages, so we have created a blog to aggregate the best highlights from the discussions on this thread: urofoundation.wordpress.com

byronit

newbie

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Wallet is not syncing today connections all timing out??

true-asset

sr. member

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Uro: 1 URO = 1 metric tonne of Urea N46 fertilizer

Quote from: pineapples on June 10, 2014, 07:51:00 PM

dont need to convince anyone of the value.
once the uro is tradeable to urea then the market will fix it directly.

i'm curious why the dev initially did not want it on an exchange, then wanted it on more .. when all the time there needed to be a mechanism to get URO out of the greedy mitts of the miners and into the hands of the purchasers.

You are right - we thought that a premature exchange listing would be detrimental to the early stage development of the project - but later we have found from the community that the exchange helps bring attention and increase market participation. We learned and we evolved - and this is an ongoing necessity to continue being leaders in any field.

Topic: [ANN][URO] A Real Long Term Currency: 1 Uro = 1 Metric Tonne Urea Fertilizer - page 188. (Read 247332 times)