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Topic: [ANN] [ASIC-RESISTANT] UltraCoin (UTC) - Ultrafast 6 second transactions!! - page 708. (Read 946654 times)

full member
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sr. member
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hero member
Activity: 560
Merit: 500
Minds are like parachutes they work best when open
dont go on followers whether its twitter, facebook, reddit etc, they can all be bought, and bought cheaply
sr. member
Activity: 448
Merit: 250
"With twitter references one has to be careful > they can be bought Wink

(ps: fiverr)"

True - but that's not really a problem. The key is - how many people know about Ultracoin, outside of exchanges and bitcointalk? If you use something like Twitter to promote it to the right people (saying why people should mine it, why it's different, why people should buy it), Twitter takes over and your message gets spread. That MUST happen for this coin to succeed.
newbie
Activity: 31
Merit: 0
WHY WOULD YOU SELL ON THE FIRST DAY?? UTC GOING TO $2
how you know?

One way would be to compare parities (not party  Grin) with a similar established coin

LTC - 84m coin, 2:30 sec blocks, 50 coins, hashing factor Scrypt 1, current price $20.00 +/-
UTC- 100m coin, :30 sec blocks, 50 coins, hashing factor Scrypt Jane 0.75 +/-, current price $0.35 +/-,


So,  (1.19 more coins 5 times faster blocks 1 same reward 0.75 hash factor) current LTC price <=> parity of $4.48 for UTC (current price)
(1.19x5x1x0.75)/20=4.48

LTC peak of 50.00 +/- would approximate to a UTC  parity value of; $11.20 for UTC
(1.19x5x1x0.75)/50=11.20



If we are to assume acceptance of the coin UTC;  then $4.48 is entirely possible with LTC in 20 range.  If we are to assume LTC goes up (which is to assume BTC will go up); then we can actually exceed Bumfaces' stated $10.00 target.  His target is not unrealistic in any way.  Obviously UTC, still very new and would need some time to reach parity price;  so I'm not saying $4.48 UTC tomorrow or anything.

time will tell




To reach these numbers, this coin needs to be promoted (outside of the btc-e community). I haven't seen much of that. Devs and miners often underestimate the importance of community building and promotion. Case in point - @Vertcoin has 31,900 twitter followers. How many does Ultracoin have?

With twitter references one has to be careful > they can be bought Wink

(ps: fiverr)
full member
Activity: 140
Merit: 100
UTC is a VERY SMALL community here. Didn't expect DUMP coin from them either. Smiley

much thanks to the community for not dumping any big amounts.... we may be able to follow vertcoin to dollar heaven
sr. member
Activity: 448
Merit: 250
WHY WOULD YOU SELL ON THE FIRST DAY?? UTC GOING TO $2
how you know?

One way would be to compare parities (not party  Grin) with a similar established coin

LTC - 84m coin, 2:30 sec blocks, 50 coins, hashing factor Scrypt 1, current price $20.00 +/-
UTC- 100m coin, :30 sec blocks, 50 coins, hashing factor Scrypt Jane 0.75 +/-, current price $0.35 +/-,


So,  (1.19 more coins 5 times faster blocks 1 same reward 0.75 hash factor) current LTC price <=> parity of $4.48 for UTC (current price)
(1.19x5x1x0.75)/20=4.48

LTC peak of 50.00 +/- would approximate to a UTC  parity value of; $11.20 for UTC
(1.19x5x1x0.75)/50=11.20


If we are to assume acceptance of the coin UTC;  then $4.48 is entirely possible with LTC in 20 range.  If we are to assume LTC goes up (which is to assume BTC will go up); then we can actually exceed Bumfaces' stated $10.00 target.  His target is not unrealistic in any way.  Obviously UTC, still very new and would need some time to reach parity price;  so I'm not saying $4.48 UTC tomorrow or anything.

time will tell




To reach these numbers, this coin needs to be promoted (outside of the btc-e community). I haven't seen much of that. Devs and miners often underestimate the importance of community building and promotion. Case in point - @Vertcoin has 31,900 twitter followers. How many does Ultracoin have?
hero member
Activity: 560
Merit: 500
Minds are like parachutes they work best when open
much thanks to the community for not dumping any big amounts.... we may be able to follow vertcoin to dollar heaven
full member
Activity: 238
Merit: 100
WHY WOULD YOU SELL ON THE FIRST DAY?? UTC GOING TO $2
how you know?

One way would be to compare parities (not party  Grin) with a similar established coin

LTC - 84m coin, 2:30 sec blocks, 50 coins, hashing factor Scrypt 1, current price $20.00 +/-
UTC- 100m coin, :30 sec blocks, 50 coins, hashing factor Scrypt Jane 0.75 +/-, current price $0.35 +/-,


So,  (1.19 more coins 5 times faster blocks 1 same reward 0.75 hash factor) current LTC price <=> parity of $4.48 for UTC (current price)
(1.19x5x1x0.75)/20=4.48

LTC peak of 50.00 +/- would approximate to a UTC  parity value of; $11.20 for UTC
(1.19x5x1x0.75)/50=11.20


If we are to assume acceptance of the coin UTC;  then $4.48 is entirely possible with LTC in 20 range.  If we are to assume LTC goes up (which is to assume BTC will go up); then we can actually exceed Bumfaces' stated $10.00 target.  His target is not unrealistic in any way.  Obviously UTC, still very new and would need some time to reach parity price;  so I'm not saying $4.48 UTC tomorrow or anything.

time will tell

good math. though it doesnt apply in market, especially lots of new coins with unique features are popping out

Satoshi may have it explained it best a while ago;

Excellent analysis, xc.

A rational market price for something that is expected to increase in value will already reflect the present value of the expected future increases.  In your head, you do a probability estimate balancing the odds that it keeps increasing.

In the absence of a market to establish the price, NewLibertyStandard's estimate based on production cost is a good guess and a helpful service (thanks).  The price of any commodity tends to gravitate toward the production cost.  If the price is below cost, then production slows down.  If the price is above cost, profit can be made by generating and selling more.  At the same time, the increased production would increase the difficulty, pushing the cost of generating towards the price.

In later years, when new coin generation is a small percentage of the existing supply, market price will dictate the cost of production more than the other way around.

At the moment, generation effort is rapidly increasing, suggesting people are estimating the present value to be higher than the current cost of production.

All of these new altcoins follow this "absence of market" stage and hence "The price of any commodity tends to gravitate toward the production cost.  If the price is below cost, then production slows down."
Whereas BTC, LTC and a couple others have reached the "later years" period.   With all the altcoins, you see many perpetually stuck in the early production cost / value stage and never get to a market driven stage.  This is due, in part, to greedy devs and miners looking only at daily returns.  

I do believe the parties involved with UTC plan to reach the market driven stage; as well, POS helps incentivize reaching the market stage too.

hero member
Activity: 686
Merit: 500
WHY WOULD YOU SELL ON THE FIRST DAY?? UTC GOING TO $2
how you know?

One way would be to compare parities (not party  Grin) with a similar established coin

LTC - 84m coin, 2:30 sec blocks, 50 coins, hashing factor Scrypt 1, current price $20.00 +/-
UTC- 100m coin, :30 sec blocks, 50 coins, hashing factor Scrypt Jane 0.75 +/-, current price $0.35 +/-,


So,  (1.19 more coins 5 times faster blocks 1 same reward 0.75 hash factor) current LTC price <=> parity of $4.48 for UTC (current price)
(1.19x5x1x0.75)/20=4.48

LTC peak of 50.00 +/- would approximate to a UTC  parity value of; $11.20 for UTC
(1.19x5x1x0.75)/50=11.20


If we are to assume acceptance of the coin UTC;  then $4.48 is entirely possible with LTC in 20 range.  If we are to assume LTC goes up (which is to assume BTC will go up); then we can actually exceed Bumfaces' stated $10.00 target.  His target is not unrealistic in any way.  Obviously UTC, still very new and would need some time to reach parity price;  so I'm not saying $4.48 UTC tomorrow or anything.

time will tell



good math. though it doesnt apply in market, especially lots of new coins with unique features are popping out
full member
Activity: 238
Merit: 100
WHY WOULD YOU SELL ON THE FIRST DAY?? UTC GOING TO $2
how you know?

One way would be to compare parities (not party  Grin) with a similar established coin

LTC - 84m coin, 2:30 sec blocks, 50 coins, hashing factor Scrypt 1, current price $20.00 +/-
UTC- 100m coin, :30 sec blocks, 50 coins, hashing factor Scrypt Jane 0.75 +/-, current price $0.35 +/-,


So,  (1.19 more coins 5 times faster blocks 1 same reward 0.75 hash factor) current LTC price <=> parity of $4.48 for UTC (current price)
(1.19x5x1x0.75)/20=4.48

LTC peak of 50.00 +/- would approximate to a UTC  parity value of; $11.20 for UTC
(1.19x5x1x0.75)/50=11.20


If we are to assume acceptance of the coin UTC;  then $4.48 is entirely possible with LTC in 20 range.  If we are to assume LTC goes up (which is to assume BTC will go up); then we can actually exceed Bumfaces' stated $10.00 target.  His target is not unrealistic in any way.  Obviously UTC, still very new and would need some time to reach parity price;  so I'm not saying $4.48 UTC tomorrow or anything.

time will tell


hero member
Activity: 686
Merit: 500
so whose leaving his wallet online for the whole year?
member
Activity: 118
Merit: 100
this coin is going off. i'm selling only a small portion but the majority I'm holding. this coin has long term viability. count on it.
hero member
Activity: 686
Merit: 500
WHY WOULD YOU SELL ON THE FIRST DAY?? UTC GOING TO $2
how you know?
full member
Activity: 154
Merit: 100
hero member
Activity: 776
Merit: 557
WHY WOULD YOU SELL ON THE FIRST DAY?? UTC GOING TO $2
newbie
Activity: 36
Merit: 0
So how many of the "I won't dump" guys sold their coins at 10x the price they paid for them?  Cheesy

Anyway, I'm up 400 coins and 0.15 BTC and I didn't send in much. The action was entirely predictable. Now I'll hodl and see what happens in the coming days and weeks.

I've not sold any of mine - not for a long time
hero member
Activity: 776
Merit: 557
we need to spread the word on twitter - get twittering guys #ultracoin #UTC
member
Activity: 224
Merit: 10
Keep up the good work UTC devs  Smiley Smiley Smiley Smiley
sr. member
Activity: 284
Merit: 250
Difficulty 11.22103355
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