Topic: [Ultracoin] [Est. Feb 2014] ~ ASIC Resistant & Ultrafast 6 Second Transactions! - page 151. (Read 381004 times)

Someone explain this to me.  Nearly 30 million ultra coins out, which is a lot in my book.  Huge inflation [i think it should be cut back [ASAP], by a lot, a la darkcoin and many other successful alts].

Yet, when the price was around 3,000 sat about a month ago I could hardly find any Ultra coins to buy.

The supply was so tight, I actually had to pay 3,000 sat for about 25,000 coins, just to diversify, cause I liked some of what I was seeing in the dev team.

And I watched the coin for a couple weeks and it was rock solid.  All this huge inflation wasn't pushing the coin down at all, no coins for sale in any large blocks.

Then all of a sudden, about 2 weeks ago:  IMPLOSION!

So what happened there?  Did some insider call it quits and dump a few million ultra coins? Has there been a material change within the dev team and future plans?

Is this just more crypto manipulation so insiders can buy it all up before they pump huge amounts of resources, time and money into Ultra?

Why is Ultra so cheap all of a sudden and also tons of huge blocks for sale?  Any insight would be much appreciated!

Cheers!

Agree that we have to get the community working together again - its a bit thin on the ground lately.

When I say "community" I mean the general UTC holders, management team and devs.

Communication needs to ramp up a bit - we are all in the dark and its unnerving for most - one reason for the abysmal price slide.

There needs to be some updates on progress and regular communications again.  If Steven is too busy perhaps someone else in the management team give us updates for a while?

Sure we need use in commerce - but thats far off in the future at present - not many alts have this.  To get use we need useful and attractive features - and a reasonable price or we need to trade a mil to but a Vape kit on CoinPayments. We need to position UTC for future use - choose some target market uses - sell the vision and deliver.  Regular updates are required to keep the followers glued to the coin, the roadmap and the vision.

The dump of more than 2 mill has almost brought most holders to desperation stage - which I tend to think the reason for the dumps were. 

Somebody wants to destroy the price to own UTC.

The dumps are deliberate and staged. The visits from our favourite little voodoo dolls imply a rehearsed strategy to break the price.  They are not IMO someone trying to get BTC recovered (if they had that many UTC they would be a little smarter hopefully and extract BTC with a better strategy) - they are designed just to take the price down in steps. The dolls FUD just adds to the effect of the dumps.

Still consider one likely scenario - the dumper/s sold to themselves !! It happened before when the price was flying high.

I am never selling - and still buying on each step down. Hope some of you others are?  We might end up being the new "owners" if we are not too careful. Not all that bad.

So please keep the dumps up.  Its like an early Xmas.

But at some stage - one way or another - the phoenix will rise again.

Id like to know who had $2million Ultracoin which was dumped at the start of March? I find this rather alarming and it coincide with the last time the Ultracoin Team tweeted. Was it a member of the 'management team'? Who would own sooo much UTC? I own a lot but 2 million is am alarming number!!


Is there any good news coming soon or updates? Last year i spend 2 hours a night on Cryptsy for 3 months telling people about UTC and because of me and others doing this people became aware of UTC and joined the community and bought it! If we could coincide doing this again with some positive news we can attract new buyers easily. It just takes a little involvement and organisation.

For miners the price decline has been pretty fairly counterbalanced by the fact you mine many more coins per day.  I used to mine 100-150/day a few months back and nowadays with one less system and not running at night I still mine 1000-1200/day (24hr mining would be ~1500-1800).  Being in low half of the zeros5 territory does suck though, much lower and the miners are not profitable.  Once scrypt-jane is no longer profitable there is nothing left to mine with GPUs 

Last resort for a dying coin is to go POS, cause devs.  have tons of coins, and all they care is making a bit more before the coin get delisted from exchanges.
But I don't think that it can get any worse, so do whatever, I got out when the price was 16 times higher

So you think POS would make it worse?
Why?

hah, I was waiting to see when someone from the dev. team using a different nick will suggest going full POS.
I guess now what the coin is officially dead we can make a POS funeral so that at least the dev. team suck on the UTC tit just a little longer.

I thought about that ECASH/EMoney:

https://bitcointalksearch.org/topic/ann-ecash-probably-going-to-die-really-really-soon-with-no-hosting-nodes-983694

I think there are already more coins with that name

Thanks for your contribution. I agree on POS exclusive - should be the way forward.

This ECash website is a bit short on details except "from 1995" which is pre-history for crypto - so very interesting indeed. Published in 1983 - revolutionary! - contact for beta they say - so is it working? are you using it? Staking so I guess so. Can you send a link to the specific coin/curreny you are staking - There seem to be many ECash on search.

The history is here but it may need updating?
http://en.wikipedia.org/wiki/Ecash

To the pros/cons of POS:


Personally, I like full POS coins, most of them didn't have that much inflation of PoW coins, what makes it a bit easier to
sustain hard times.

The other side is PoW creates awareness at leased from miners (I'm almost mining UTC since beginning, with some breaks).

To be honest, I don't see much more advantages of PoW, except this and if you want a coin to mine and dump.

About speed, as example ECASH has 8sec blocktime I think. That makes some orphans while staking, but seems to work.

In my opinion, UTC could switch to full PoS (with of cause lower interest rates than Ecash) and lower blocktimes to be state of the art again.

Thanks for the update Kracko - will be interested in the SHA options on the new multipool.

My suggestions for the SHA multipool were:

Deutsche eMark (DeM)   
DigiByte (DGB)
Myriadcoin (MYR)
MazaCoin (MZC)   
Neoscoin (NEOS)   
SaffronCoin (SFR)
TEKcoin (TEK)   
Terracoin (TRC)

utc2.tumblingblock.com will be closing down on 3/19.  If you have any coins sitting there, please withdraw them.  A final manual payout will be run on the last day.  We will still have two pools to choose from, ultrablockparty.com or utc.tumblingblock.com.  The multipool has been closed down but will be brought up again on ultrablockparty in the near future.

Anybody interested in running some -chacha rigs for me hit me up I've got an opportunity for you - thanks - PM me for details.

I'm looking to rent some rigs and can offer better than shit on multi-algo sites - thanks.

Just great!  Is that Vanity or just random?

Good idea for a discussion BorisWCR

Personally POS is good option for me because I just cannot seem to mine this coin other than using SHA on Multipool. The SHA options on Multipool are only two - and now not even available.  Have suggested best coin options in a previous post but appreciate Kracko is busy. Last time I looked nobody was mining any algo on MP.

What are the disadvantages of dropping POW and going full POS?  Cuts out small holders on distribution (% wise its fair but total coin distribution favours large holders - the rich get richer basically).  Cuts out the loyal miners who have invested time and money in mining hardware. But to be fair here with POW - those who have spent the most on hardware to mine UTC get proportionally richer (so it just favours a different group) - but thats not really a bad thing either - if you invest and take a risk you should get the reward.

Advantages of POS - From my minimal understanding POS seems more secure when you have low mining hashrate across network. Its harder to cheat POS. This is certainly the case for UTC.  Makes the coin more environmentally friendly - less energy expended on maintaining the network.  This is a great plus in my opinion and is a coin selling point.  Of course POS is ASIC resistant - but I dont really see this as a significant point anymore when the new GPU's are really just the new ASICs for the ASIC proof coins? Encourages people to BUY and HOLD - bloody huge benefit.  Cuts out continual sell off by miners trying to cover power costs - bloody huge benefit.

I like the mix of POS and POW - but with all the issues I see here with mining it really restricts newcomers getting into the coin.  Kracko is working on the EasyMiner - this may change the landscape.  It may not?  The DGB Easyminer is great but not much take up and suspicions over security in the application.  MYR easyminer has all but become redundant now.  Its hard to create these across many systems and sort the glitches for each user - its a nightmare. If the coin really takes off - then these easyminers really do have a place.

Personally I see POS as the future - POW is not sustainable.

I would put POS reward to 10% per year (dropping by 1% per year to stabilise at 3-5% based on average rates of return on term deposits) so investments are equitable across range of options - and drop POW completely.

This would certainly disadvantage the loyal UTC miners who are the strongest supporters of UTC.  So this is a big issue.

I am open to your constructive criticism and wise discussions.

Cheers - usukan

For some lighthearted entertainment...I think I have the best UTC address:

UgLYFuKRfi2Yat47Vm32ZrA13GSvEAuYmb

 

This i find an intresting topic !

UTC is not goin very well at this moment, but indeed, the whole market goes not well.

So it is not only a UTC thing.

Can we mayby start an normal en respectfull "open" discussion (without trolls) and discous about pro's and con's for UTC to go full poss ?

I know we have community members who like that idea and also members who are against it to go full poss.

But mayby it could be a possibility for UTC.

Please only a open and respectfull discussion about it without attacking each other ....

Oh dear where has the buy support gone.  Not looking good for UTC from where I am sitting, my small bag is now worthless.

UTC has been on a downward spiral since the Miami conference last year, such a shame.

Valpe, Dopecoin offers lightning fast transactions, it might be POS but it is still an alive coin.

Same here. First troll added to ignore 

Next time stop at 'star'. I gave you CONSTRUCTIVE feedback. You decided not to listen. Blame your parents not me. I was right, so I am a troll now. Makes sense