I have tried and tried to believe. I can only tell people something is legit and they should invest if I feel I have intelligently looked at what is expected to happen and how its expected to get there. I feel I was ran around a bush like 100 times and ended up with no further knowledge.
https://twitter.com/UroFoundation/status/499091979561480194Now waiting for a response that must be calculated because its taking awhile. but I have a feeling this endless circle will end with them telling me nothing and me going to bed. This is not fud I want the truth. I want to believe. If this post is deleted it will be exposed.
WHAT is so hard about this question:
How will URO ever meet UREA prices. How will it possibly stay there? If say farmers want to buy more URO to hold onto but cant because the price would go up unreasonably how to keep the price down? Vice Versa how to even get the price up to begin with? How is this not a reasonable question? It may seem complicated but really its not I asked for just one real solution
The closest I got to an answer was pointing to protocols and ratifications as the reasoning.
Like I mentioned in the tweets the ratifications are not even notarized so what are there purpose? They are completely useless pieces of information.
The protocol is quite literally just a sales arrangement that in no way enforces that the price of uro will increase. Nor does it in any way benefit GES to sell UREA for URO at this time as even if the price were to match they would only even out, not gain profit. Even if they assume urea prices will increase how could the benefits possibly outway the risk? Theres no way! Unless they can afford to invest in uro themselves. Sell the urea themselves and completely control the market (making it centralized and pointless) I dont foresee URO EVER matching prices.
PLEASE someone explain to me how this will happen?
I have managed to have a smart discussion with CANN devs and got a reasonable answer as to how they plan to make weed backed currency. Why is URO so much more difficult? Why cant they come up with a reasonable plan that someone with a reasonable amount of intelligence can understand?
Right now I think people are just blind by the fact that they want to get rich. The reward is high enough that its worth the risk to some. All I want is a reasonable answer to this question and I will be happy to support URO. You see me support CANN daily. Why cant I support URO? because I cant get a real answer
+1 I hope true-asset will comment on this valid points.
I've been following the whole saga and read with interest ALL posts, Chang's included.
What we have here is some people, the URO Foundation, building a tool like no one has ever seen before. Unique for the last 2,000 years of recorded history, URO is to buy 1 ton of UREA.
Unbelievably GREAT idea.
So what the fathers of this idea do? They tell us to "take it by faith".
Wow! Who are you True Asset? Jesus reincarnated?
URO Foundation will stand or fall depending on 1 URO = 1 ton of DELIVERED Urea.
Extraordinary claims need extraordinary proof.
I would expect URO Foundation to arrange, along with NIERs, the following two things:
[1]
I would expect the Foundation to arrange with an international auditor (PriceWaterhouseCoopers, Ernst & Young, Intertek ....) to verify each step of the first trade, from start to actual, physical delivery of Urea to a buyer's destination. I would expect to see not photos of urea from pinterest but Intertek's signed inspector's photos from the actual ship.
[2]
Then I would expect the Foundation and all NIERS having signed the URO agreement to setup a dedicated order desk for URO holders to arrange for Urea shipments. There should be a service explaining to URO buyers all steps needed, how the URO should be deposited with a proxy for release when freight documents were submitted, which international auditor would inspect the cargo, what documents would be released etc.
Now I see URO Foundation doing what? On count [1] they tell us to "have faith". On count [2] they tell us we can't have all kinds of weirdos calling in for fake urea orders...
So we have hobopete trying to do research on his own and Chang et al hammering on very valid points all the way.
I don't live in a black and white world. I know there are infinite varieties of grey in between. So a coin is NOT either scam or legit. There may be a great many variations in between. In reality, however, I take the following actions:
As a trader, I have hit my stop loss and I'm out of URO at a loss which I can afford without any hurt feelings.
As a crypto enthousiast I want coins to really succeed. Like most people here,
I want to believe.
So I keep reading, learning and thinking.
I want to believe because of rational, solid, down to earth, verifiable, real world data.
If I wanted to take a coin on faith, I might as well place my faith on God Almighty and retire to a monastery with no WiFi