[ANN][URO] A Real Long Term Currency: 1 Uro = 1 Metric Tonne Urea Fertilizer - page 19.

bitcad4u

sr. member

Activity: 602

Merit: 255

Quote from: Conurtrol on July 11, 2014, 09:20:25 AM

Is there a copy of the contract for the Urea for URO transaction that was supposed to have taken place? Is the URO transfer recorded on the blockchain?

The contract itself in enforced by block chain.. this is what block chains are good for. The protocol provides the contract and the UREA dealers have signed it saying they will accept URO.

Yes there is a 12,500 URO transfer within the block chain... go take a look back a few 100 posts..

sdersdf2

full member

Activity: 224

Merit: 100

Is it fully settled whether this is a scam or not, and if not, is there some definitive piece of evidence (besides the price chart) scheduled to come out that settles this question decisively (if so, when)?

Conurtrol

sr. member

Activity: 478

Merit: 250

Quote from: sandor111 on July 11, 2014, 09:21:49 AM

Quote from: Conurtrol on July 11, 2014, 09:20:25 AM

Is there a copy of the contract for the Urea for URO transaction that was supposed to have taken place? Is the URO transfer recorded on the blockchain?

It's recorded in the blockchain and it's still there.
A 88 BTC bounty has been offered to anyone who can prove that the transaction is fake.

Is there a copy of the first ever contract of a Urea for URO purchase available to look at?

studio1one

hero member

Activity: 1218

Merit: 500

BintexFutures

Quote from: stormia on July 11, 2014, 09:23:16 AM

Quote from: studio1one on July 11, 2014, 09:10:51 AM

Ok so I have read everything, all the papers pictures etc. One thing I cannot reconcile, maybe someone could explain it to me.

Why would anyone, at present, accept URO for Urea? they would be receiving a huge amount less than if they accepted USD and would lose a vast sum of money on the deal.

I put myself in the seller position, someone comes up to me and says, here you go mate, please accept 12500 URO for this purchase of a shipment of Urea. I look at the price of URO and say 'you mad bro? give me 375K USD or get the fuck out of here.

What is the motivation for the seller to accept the URO on this deal?

They can hold the URO until it reaches whatever the price of 1 MT of UREA is, and then they have not lost anything...
Yes, the first person to buy urea with URO at this price is going to get an amazing deal, but if the seller does not sell the URO until they are equal in price to 1 MT of urea then they have not lost anything.

This just exemplifies one of the exact purposes of this coin-. Imagine urea right now was only ~200 dollars a metric TONNE and you think the price will rise to the current price of ~300 dollars in the future so you want to buy a bunch (lets say 12500 MTs) of urea now and store it to use or because you want to resell it for a profit. Assume that it is not logistically possible for you to store that much urea for the length of time that you desire. And now assume that URO is already pinned to the price of urea. Instead of buying 12500 MTs of urea, you can simply buy 12500 URO- something which is easy for anybody to store and trade.

cashflow.

studio1one

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Activity: 1218

Merit: 500

BintexFutures

Quote from: sandor111 on July 11, 2014, 09:20:51 AM

Quote from: studio1one on July 11, 2014, 09:16:23 AM

Quote from: sandor111 on July 11, 2014, 09:15:11 AM

Quote from: studio1one on July 11, 2014, 09:10:51 AM

Ok so I have read everything, all the papers pictures etc. One thing I cannot reconcile, maybe someone could explain it to me.

Why would anyone, at present, accept URO for Urea? they would be receiving a huge amount less than if they accepted USD and would lose a vast sum of money on the deal.

I put myself in the seller position, someone comes up to me and says, here you go mate, please accept 12500 URO for this purchase of a shipment of Urea. I look at the price of URO and say 'you mad bro? give me 375K USD or get the fuck out of here.

What is the motivation for the seller to accept the URO on this deal?

Read Article 2.1 of the Uro protocol, it says they have to accept 12500 URO as a payment, regardless of the current market value.
In total the industry supplies billions of $ in urea, so liquidity is not an issue.

I've read it.

My question is why would anyone selling it agree to sign it?

Really simple, eventually the market price will grow to $300/URO. There will be no variance between the market prices, as it will be one market of URO. So long term it's the most cost effective for the farmers to do so. Little to no fees compared to bank transfers.
Also, there are no fraud or risk involved when paying with URO, it's secured by the blockchain.
You can think of URO as a token to exchange $ and urea at any time.

Ok, I'm the seller I'm selling almost half a million USD worth of goods to you on the promise that at some point the market price will become that of URO, what if it doesn't? is there someone who will guarantee me recompense for my loss?

what do I do about cashflow in the meantime while i wait for all these URO I have to accumulate in value?

stormia

hero member

Activity: 868

Merit: 1000

Quote from: studio1one on July 11, 2014, 09:10:51 AM

Ok so I have read everything, all the papers pictures etc. One thing I cannot reconcile, maybe someone could explain it to me.

Why would anyone, at present, accept URO for Urea? they would be receiving a huge amount less than if they accepted USD and would lose a vast sum of money on the deal.

I put myself in the seller position, someone comes up to me and says, here you go mate, please accept 12500 URO for this purchase of a shipment of Urea. I look at the price of URO and say 'you mad bro? give me 375K USD or get the fuck out of here.

What is the motivation for the seller to accept the URO on this deal?

They can hold the URO until it reaches whatever the price of 1 MT of UREA is, and then they have not lost anything...
Yes, the first person to buy urea with URO at this price is going to get an amazing deal, but if the seller does not sell the URO until they are equal in price to 1 MT of urea then they have not lost anything.

This just exemplifies one of the exact purposes of this coin- Imagine urea right now was only ~200 dollars a metric TONNE and you think the price will rise to the price of ~300 dollars in the future so you want to buy a bunch (lets say 12500 MTs) of urea now and store it to use or because you want to resell it for a profit. Assume that it is not logistically possible for you to store that much urea for the length of time that you desire. And now assume that URO is already pinned to the price of urea. Instead of buying 12500 MTs of urea, you can simply buy 12500 URO- something which is easy for anybody to store and trade.

sandor111

hero member

Activity: 616

Merit: 500

Quote from: Conurtrol on July 11, 2014, 09:20:25 AM

Is there a copy of the contract for the Urea for URO transaction that was supposed to have taken place? Is the URO transfer recorded on the blockchain?

It's recorded in the blockchain and it's still there.
A 88 BTC bounty has been offered to anyone who can prove that the transaction is fake.

sandor111

hero member

Activity: 616

Merit: 500

Quote from: studio1one on July 11, 2014, 09:16:23 AM

Quote from: sandor111 on July 11, 2014, 09:15:11 AM

Quote from: studio1one on July 11, 2014, 09:10:51 AM

Ok so I have read everything, all the papers pictures etc. One thing I cannot reconcile, maybe someone could explain it to me.

Why would anyone, at present, accept URO for Urea? they would be receiving a huge amount less than if they accepted USD and would lose a vast sum of money on the deal.

I put myself in the seller position, someone comes up to me and says, here you go mate, please accept 12500 URO for this purchase of a shipment of Urea. I look at the price of URO and say 'you mad bro? give me 375K USD or get the fuck out of here.

What is the motivation for the seller to accept the URO on this deal?

Read Article 2.1 of the Uro protocol, it says they have to accept 12500 URO as a payment, regardless of the current market value.
In total the industry supplies billions of $ in urea, so liquidity is not an issue.

I've read it.

My question is why would anyone selling it agree to sign it?

Really simple, eventually the market price will grow to $300/URO. There will be no variance between the market prices, as it will be one market of URO. So long term it's the most cost effective for the farmers to do so. Little to no fees compared to bank transfers.
Also, there are no fraud or risk involved when paying with URO, it's secured by the blockchain.
You can think of URO as a token to exchange $ and urea at any time.

Conurtrol

sr. member

Activity: 478

Merit: 250

Is there a copy of the contract for the Urea for URO transaction that was supposed to have taken place? Is the URO transfer recorded on the blockchain?

myxamop

hero member

Activity: 882

Merit: 502

It is sensation! http://www.fotoforensics.com/analysis.php?id=4354ec0e24ac7f598dcbe5aae7edf204277c6f4d.23202

kewlya

full member

Activity: 150

Merit: 100

Quote from: bitcad4u on July 11, 2014, 09:16:41 AM

Quote from: loges on July 11, 2014, 09:12:51 AM

Quote from: studio1one on July 11, 2014, 09:10:51 AM

Ok so I have read everything, all the papers pictures etc. One thing I cannot reconcile, maybe someone could explain it to me.

Why would anyone, at present, accept URO for Urea? they would be receiving a huge amount less than if they accepted USD and would lose a vast sum of money on the deal.

I put myself in the seller position, someone comes up to me and says, here you go mate, please accept 12500 URO for this purchase of a shipment of Urea. I look at the price of URO and say 'you mad bro? give me 375K USD or get the fuck out of here.

What is the motivation for the seller to accept the URO on this deal?

I don't know. Maybe so the guys that created this coin could make a lot of money?

88 BTC bounty for you to prove your FUD - why are you not claiming the bounty yet ?

dont want to FUD just want to say that 88 BTC bounty is a lie, a complete BS. u mean that if i prove him its a scam he will send me 88 btc ?? yeah right, u releaved my scam now let me send u 88 btc. dev put the btc in a escrow, other wise we all know its complete BS.

studio1one

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Activity: 1218

Merit: 500

BintexFutures

Quote from: bitcad4u on July 11, 2014, 09:18:16 AM

Quote from: studio1one on July 11, 2014, 09:16:23 AM

Quote from: sandor111 on July 11, 2014, 09:15:11 AM

Quote from: studio1one on July 11, 2014, 09:10:51 AM

Ok so I have read everything, all the papers pictures etc. One thing I cannot reconcile, maybe someone could explain it to me.

Why would anyone, at present, accept URO for Urea? they would be receiving a huge amount less than if they accepted USD and would lose a vast sum of money on the deal.

I put myself in the seller position, someone comes up to me and says, here you go mate, please accept 12500 URO for this purchase of a shipment of Urea. I look at the price of URO and say 'you mad bro? give me 375K USD or get the fuck out of here.

What is the motivation for the seller to accept the URO on this deal?

Read Article 2.1 of the Uro protocol, it says they have to accept 12500 URO as a payment, regardless of the current market value.
In total the industry supplies billions of $ in urea, so liquidity is not an issue.

I've read it.

My question is why would anyone selling it agree to sign it?

Maybe if you guys did not troll the video sessions last night - all of this would have been explained. It was explained 100% in the previous video session on google chat prior to 200 children joining and playing memes. whatever. your loss.

I wasn't anywhere near any video sessions last night. I'm just asking a reasonable question in a reasonable manner.

timertrainer

full member

Activity: 135

Merit: 100

The whale dumps and pumps on URO seem to be a regular thing now. I expect another dump to the 500-800k range today, as it happened twice yesterday night even after a full price recovery and pump. Any traders here will want to make use of this and dump for a profit at .01+ and rebuy at the dump.

bitcad4u

sr. member

Activity: 602

Merit: 255

Quote from: studio1one on July 11, 2014, 09:16:23 AM

Quote from: sandor111 on July 11, 2014, 09:15:11 AM

Quote from: studio1one on July 11, 2014, 09:10:51 AM

Ok so I have read everything, all the papers pictures etc. One thing I cannot reconcile, maybe someone could explain it to me.

Why would anyone, at present, accept URO for Urea? they would be receiving a huge amount less than if they accepted USD and would lose a vast sum of money on the deal.

I put myself in the seller position, someone comes up to me and says, here you go mate, please accept 12500 URO for this purchase of a shipment of Urea. I look at the price of URO and say 'you mad bro? give me 375K USD or get the fuck out of here.

What is the motivation for the seller to accept the URO on this deal?

Read Article 2.1 of the Uro protocol, it says they have to accept 12500 URO as a payment, regardless of the current market value.
In total the industry supplies billions of $ in urea, so liquidity is not an issue.

I've read it.

My question is why would anyone selling it agree to sign it?

Maybe if you guys did not troll the video sessions last night - all of this would have been explained. It was explained 100% in the previous video session on google chat prior to 200 children joining and playing memes. whatever. your loss.

bitbd83

full member

Activity: 224

Merit: 100

Crypto Enthusiast, BD

Quote from: Conqueror on July 11, 2014, 09:05:10 AM

I think 40 tons for 40" ship container is max. So 12500/40= 312 containers. What the fuck!

40" container min capacity of standard 60KG bag UREA ~250MT

bitcad4u

sr. member

Activity: 602

Merit: 255

Quote from: loges on July 11, 2014, 09:12:51 AM

Quote from: studio1one on July 11, 2014, 09:10:51 AM

Ok so I have read everything, all the papers pictures etc. One thing I cannot reconcile, maybe someone could explain it to me.

Why would anyone, at present, accept URO for Urea? they would be receiving a huge amount less than if they accepted USD and would lose a vast sum of money on the deal.

I put myself in the seller position, someone comes up to me and says, here you go mate, please accept 12500 URO for this purchase of a shipment of Urea. I look at the price of URO and say 'you mad bro? give me 375K USD or get the fuck out of here.

What is the motivation for the seller to accept the URO on this deal?

I don't know. Maybe so the guys that created this coin could make a lot of money?

88 BTC bounty for you to prove your FUD - why are you not claiming the bounty yet ?

studio1one

hero member

Activity: 1218

Merit: 500

BintexFutures

Quote from: sandor111 on July 11, 2014, 09:15:11 AM

Quote from: studio1one on July 11, 2014, 09:10:51 AM

Ok so I have read everything, all the papers pictures etc. One thing I cannot reconcile, maybe someone could explain it to me.

Why would anyone, at present, accept URO for Urea? they would be receiving a huge amount less than if they accepted USD and would lose a vast sum of money on the deal.

I put myself in the seller position, someone comes up to me and says, here you go mate, please accept 12500 URO for this purchase of a shipment of Urea. I look at the price of URO and say 'you mad bro? give me 375K USD or get the fuck out of here.

What is the motivation for the seller to accept the URO on this deal?

Read Article 2.1 of the Uro protocol, it says they have to accept 12500 URO as a payment, regardless of the current market value.
In total the industry supplies billions of $ in urea, so liquidity is not an issue.

I've read it.

My question is why would anyone selling it agree to sign it?

loges

sr. member

Activity: 308

Merit: 250

Super Smash Bros. Ultimate Available Now!

Quote from: Bitcycle on July 11, 2014, 09:13:59 AM

Quote from: loges on July 11, 2014, 09:07:27 AM

Prove what? That 1 uro doesn't buy 1 ton of urea. Ok go check out mintpal.

This concept really is hurting your wittle head, isn't it?

The exchange rate between BTC and URO is not what matters here.

What matters, and ALL that matters is if there are suppliers who are willing to sell 1 mt tonne of urea for 1 uro.

If there are, then 1 uro is worth 1 t tonne of urea. The end.

The only question you should be asking is this - Are there suppliers willing to do such a thing?

The coin dev claims yes. Obviously this needs to be proven, since it's the one and only crucial fact in the entire matter.

I believe it's possible there may be such suppliers, as there are certain wider implications and advantages to doing so, as a long term systemic plan. The devs have been smart enough to figure out what those are, even if you're not able to comprehend them yourself.

That doesn't mean I'm sure someone *has* in fact agreed to such a thing, only that I can see why someone might.

What we need is proof that someone really has.

OK. I understand all of that. It all comes down to I don't think URO will be worth that value in btc. So in the end you guys can just buy a lot of fertilizer.

Scamhunters

newbie

Activity: 42

Merit: 0

Quote from: Scamhunters on July 11, 2014, 09:09:08 AM

Quote from: Scamhunters on July 11, 2014, 08:50:33 AM

Please get Nilesh Nair to post a recorded video with his full name stating he is not bankrupt. There are a few government bodies in Australia who can help confirm this Cheesy

Australian Securities and investments commission (ASIC) will confirm this for you all free of charge...

Or you can always report it here.. dont forget to put in a good word for his wife also.

https://www.moneysmart.gov.au/scams/report-a-scam

sandor111

hero member

Activity: 616

Merit: 500

Quote from: studio1one on July 11, 2014, 09:10:51 AM

Ok so I have read everything, all the papers pictures etc. One thing I cannot reconcile, maybe someone could explain it to me.

Why would anyone, at present, accept URO for Urea? they would be receiving a huge amount less than if they accepted USD and would lose a vast sum of money on the deal.

I put myself in the seller position, someone comes up to me and says, here you go mate, please accept 12500 URO for this purchase of a shipment of Urea. I look at the price of URO and say 'you mad bro? give me 375K USD or get the fuck out of here.

What is the motivation for the seller to accept the URO on this deal?

Read Article 2.1 of the Uro protocol, it says "they" (NIER = a company that has traded more than two million metric tons of Urea in the last three years in the country) have to accept 12500 URO as a payment, regardless of the current market value.
In total the industry supplies billions of $ in urea, so liquidity is not an issue.

Topic: [ANN][URO] A Real Long Term Currency: 1 Uro = 1 Metric Tonne Urea Fertilizer - page 19. (Read 247330 times)