Topic: [ANN][URO] A Real Long Term Currency: 1 Uro = 1 Metric Tonne Urea Fertilizer - page 189. (Read 247332 times)

The question "Why has the NIERs not bought up all the Uro on the market?" has been asked many times. We are pleased to be able to publish an answer now.

There are so many reasons why the members of the Foundation has not chosen to go down this path, and here are just a few:

1. Sustainability: The need for the Uro community to prove itself as a long term, sustainable crowd business model: The Foundation wants to see Uro grow organically on its own, with its own proud tradition. Uro needs to be convincing to the general public as represented by the community here. Uro needs to stand alone on its own principles and economic foundations. A few companies buying up all the currency supply does nothing to achieve this.

2. Ethics: it is just plain wrong for the Foundation members to manipulate the market by hoarding all the Uro supply. In the share market - this would be considered some form of insider trading and definitely breaks a number of laws. Just because the cryptocurrency space is unregulated by the government doesn't mean that we should not hold ourselves to high moral and ethical standards. Having a few parties with a majority stake in the currency supply simply breeds opportunities for market manipulation that benefits almost no one.

3. Market creation and growth via "Earned Distribution": to have a market - you need mass participation. What is the point of Uro if - when it reaches its proper value - that only a few hold it? There will be no point to such a currency - currency is something that is useful for exchange between people - especially strangers. The bigger the market the better - and we believe that the best way to create a large market is through what we call "Earned Distribution": everyone that is holding Uro have earned them - by mining to keep the network operating, by contributing to the community via posting new information to strengthen its value, by buying some Uro. This is the free market at its best - mass participation with no freeloaders.

4. Policies in Philanthropy: For the NIERs - Uro is not a sale, Uro is not something that fits the metrics of what that the Urea trading firms will pay for as an expense or an investment. for the NIERs - the best category for Uro to fit in is as part of the philanthropic and R&D activities these companies get involved in. Over the years - the NIERs have learned that handing out cash usually ends up with corrupt officials and middlemen absorbing the majority of the donations or funding - so the NIERs now have a policy: No cash handouts. This policy is the result of tens if not hundreds of millions of dollars in hard lessons learned from past charitable and R&D activities. The NIERs are fine with providing millions of tonnes of Urea knowing that it will go towards planting something that will help feed people in need, but not okay with providing funds so that Uro can be temporarily and artificially inflated in value on a currency exchange just so that a few early adopters can cash out.
 

Thanks! This is very helpful!

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.

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.

Thank you for the clarification. So this affirms my thought that somehow you need to convince all crypto traders that this coin is worth a large fraction of a BTC whilst trusting this isn't a scam resulting in the dumping of 12,500 by each 4 purchasers for thousands if not millions of dollars in the end, presumably creating a profit if they bought in at less than the conceived urea trading price.

Quite a throw of the dice.

BTW your block explorer seems to be stuck.

Ok did some more digging myself and it seems that that hotel is at a different address - it's just called Apartment 52 at Connaught Place, while B-52 (Im guessing thats the same as 52 B) seems to be some sort of office buildings. But I'd still like to see more information about "Urea Trading India". Is that a new company? If not, how long has it been around?

Hi true-asset, I'm looking into URO and doing research on these companies. The address listed on India Trading Urea seems to be a hotel. This is what I get when I lookup the address "52 B, CONNAUGHT PLACE, CENTRAL DELHI": http://www.hotels.com/ho379558/apartment-52-new-delhi-india/ Is this a mistake? And if not why is the listed address a hotel - is this something common in India?

To be honest I would think if anything it would hurt farmers more. Like you said if you have all that competition price goes up not down. If you talking about selling I dont see the companies trying to undercut people. They I'm sure will stand pat at a price they feel comfortable with. And I'm sure miners might go a bit lower but(like I said depending on legitamcy) if this all happens its going to be alot harder for miners to get more Uro because difficulty will rise thru the roof. Just like it did for bitcoin.

Like I said its all speculation. I dont know how many Urea suppliers there are globally. If these 4 companies are say 1/3 of the total companies who deal in this quanity farmers might have no choice but to buy the Uro's and price will be what the market dictates. We will see.

It's an interesting test, if on the up and up, to see if this works out and how it works out.

this means the companies and farmers and miners and whales are all competing... why would the companies does this if they can just sell for fiat, way less hassle for them... i am a bagholder just because of the 'what if' but i have many questions and the cons way out the pros in my opinion.

Basically I think it works like this. The farmers need Uro to buy their Urea. Before Urea ranged from 200-600 dollars a MT. They buy Uro from miners and trade it for goods. So in theory the price of Uro will go up leading up to July 9th when this is supposed to take effect. Then these companies sell back the Uro's to other farmers/miners/investors and it just goes in circulation like that. Thats my simple explanation. So right now the people dumping at the current price in theory would be missing out. The way I see it is the price will steady climb the rest of this month up to a certain value maybe not the current price of Urea but to a certain value. Then once people see that this is or isnt a scam the price will shoot up to that value if its legit.(then the Urea producers sell and get their money) I dont see miners selling something for dirt cheap when it has a value to someone else thats alot higher. Of course this is speculation but as is all crypto is speculation. Bitcoin is valued at 660ish currently but tomorrow it could dive to 400 or climb up to 1000. However if this is legit and their is an actual commodity backing the coin then it will have an almost definitive value.

You understand what "underwritten" means yes?

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?

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

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.

Because the originators of the scam don't natively speak the same language as their intended targets, so there's bound to be miscommunication and typos everywhere.

My point was not that the events predated the website, but that that the website claims they were posted on the website on dates, which predate the history of the website.  Also don't really get why a company which trades with farmers in Rajasthan is only in English.  It may well all be above board, just looks weird.

You had my curiosity, but now you have my attention. I personally do hold URO, 'cos why not, but I am far more interested in the concept that URO brings to the table than profit potential. I'm trying to get people to talk and become involved, not to buy, but to just find out more.

I am still highly skeptical, as are most of the community (based on a few reservations), but I'm so, so genuinely curious about this whole thing. People keep herp-derping about "wall street" being the big money, which no doubt it will, that comes into Crypto in 2014 but asset/commodity based crypto exchange is what I envisioned (originally with coloured coins, but this is a slightly different concept is nonetheless just as groundbreaking) as the next big step and I feel like if this is legitimate that it is indeed the next step for 2014. And rest assured if this is real and it works it WILL change crypto forever, and big business will get involved.

For all that is good in the world, don't be another scam. I'll give you credit if it is, because it's waaay more creative and inctricate than typical premine scams.

I have two main concerns and questions; given you seem to be an active dev, I hope you can answer them for me.

1.  a) WHY is listing URO on a public exchange (Trex) even necessary, what part of the business plan involves us? Why does it need to be publically distributed first. It seems like an unnecessary step.   
    b) And is there anything that exempts NIER board members/farmers from loading up on this undervalued URO and getting heavily discounted urea? If not, why are they not flooding bittrex for cheap urea?

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

Well to get on The Keiser Report will require a big effort by the community to get Max to notice us. Perhaps CoinDesk will be a stepping stone.

The most important thing for us now is to get more people involved - don't blindly tell them to buy Uro - explain to them what Uro is about or ask them to read the information for themselves. We want believers and supporters - not just investors and traders.

But the petrodollar is not fixed to a set amount of petroleum - crude oil prices are rising every year.

Uro is fixed to 1 MT Urea - Uro does not depreciate like the petrodollar.

Uro is basically the same concept as the Petrodollar, except that the latter does not claim to have been ratified by OPEC.