Everyone: Remember never to FUD on other communities and projects. They do not deserve to be attacked in the same cowardly ways the we have been and most likely continued to be.
dev can you tell us the value of the transaction
1 Uro = 1 metric tonne of Urea.
dev if you can just explain this for me. you say 1 uro = 1 metric tonne of urea worth $300
1 uro can only be worth that much if you have 1,000, 000 tonne of urea.
ok say you bought 12500 tonnes of urea for 12500 coins. that would mean you only of have 12500 tonnes of urea but you have currenty 322000 coins. so every coin mined you need a tonne of urea. as urea cost $300 and your coin is currently $20 so how can it be worth a metric tonne. if your implying you bought 12500 tonnes and because of that we should consider you having, 1,000,000 tonnes for your total coins then wouldn't that just be wrong. thats like me creating gold coin with max total of 1million coins. and saying 1 coin is worth 1 gold bar but i only have 100 gold bars, and do not have the gold bars to fulfill the remaining coins.
if you have a supplier that gives you one metric tonne for 1 uro then 1 uro is worth one metric tonne (at that certain supplier ONLY). the supplier is at a loss at the moment.
this is the deal they made and till any shipment arrives you can make your mind up if you want to believe it or not.
now stop asking the same question over and over and over.
that does not make sense, for 1 uro to be worth 1 metric tonne each coin ha to have a metric tonne too. thats like saying if you have 12500 coins your 12500 coins are worth $300 and my 12500 coins are worth $20. does not make sense.
someone prove me wrong
Easy, you're assuming GES is selling their 12,500 URO for fiat immediately when they obviously aren't.
Yes, GES traded 12,500 metric tons of urea for 12,500 URO.
Yes, 12,500 URO is worth about $260k right now.
But GES isn't selling their 12,500 URO for $260k right now because they aren't fucking retarded. They understand that a commodity-backed coin like this will eventually match the value of the commodity in question.
You can tell the people in this thread now are all doom and gloom. With good reason.
You have people here smelling a scam. And you have the fast money crowd pumping this to parody with BTC.
It could have a real world use. But until the promoters have a network willing to hold 1:1 urea reserves for every coin in circulation and be willing to sell them ALL there own UREA for your COINS. I would be skeptical.
The day you can go trade a coin from the team putting out that PR I will believe it. Until they will accept EVERY coin for a unit of piss, This is nothing but a good way to take money from people who don't deserve it.
