Topic: [Ultracoin] [Est. Feb 2014] ~ ASIC Resistant & Ultrafast 6 Second Transactions! - page 8. (Read 381003 times)
May 16, 2019, 01:05:04 PM
We survived delisting from BitTrex, no reason not to survive this one.
May 16, 2019, 12:52:12 PM
With Cryptopia being dead I don't see a lot of life left for UTC, but who knows.
I saw this https://twitter.com/halo_scott/status/1128709581415362562 maybe Usukan could look into it.
I saw this https://twitter.com/halo_scott/status/1128709581415362562 maybe Usukan could look into it.
May 16, 2019, 02:36:27 AM
Thanks for the info, sounds really exciting. It's been a long ride with UTC, but I never abandoned it, and never will. It's a shame I lost more than 300K on Cryptopia, but life goes on.
It ain't over till (or until) the fat lady sings is a colloquialism which is often used as a proverb.
It means that one should not presume to know the outcome of an event which is still in progress.
More specifically, the phrase is used when a situation is (or appears to be) nearing its conclusion. It cautions against assuming that the current state of an event is irreversible and clearly determines how or when the event will end.
Cheers - usukan
May 16, 2019, 01:22:52 AM
Thanks for the info, sounds really exciting. It's been a long ride with UTC, but I never abandoned it, and never will. It's a shame I lost more than 300K on Cryptopia, but life goes on.
May 15, 2019, 10:30:51 PM
Usukan, is there any update about the progress of work on new UTC you have mentioned before?
Hi Air Jordan - also a very good question that I owe everyone my best answer.
As far as I can ascertain from recent emails from the team behind the new technology:
- A network using the new technology is basically fully functional.
- Internal testing should have begun by now.
- A lot of effort is currently consumed by setting up strategic investors in the core technology and different human/company/foundation networks to support the core technology.
- Some marketing of the core technology has been started in a very targeted way - and the core tech has been presented at a conference and several dev meetups around the world.
I am assured by a well trusted colleague in the core operational team - that 2019 will be the year.
Don't forget some of my previous advice on moving UTC over to the new tech.
UltraCoin will be the first platform that the new technology is utilised on in a practical sense.
I will advise any further updates just whenever I can.
I am strictly limited by confidentiality - so I cannot say any more for now.
When the time is close to start moving UTC over - everyone here will be the first to know.
Yes - its been a long wait but I am still confident your patience will be well rewarded.
Cheers - usukan
May 15, 2019, 07:22:49 PM
Yikes, how many millions of UTC just got removed from circulation due to this?
Interesting question Jarod1231
Usually the Liquidators seize all goods and cash - then have the legal right to sell it off to recoup the losses made by the company.
For instance even if you have paid for some goods in full, or you left your equipment on their premises - the liquidators seize them and sell them off.
Yes - its not a fair situation - but I think thats the way the law goes in NZ.
Of course you can challenge this but expensive and not guaranteed win.
There seems to be levels of stakeholders - crypto holders lowest priority - Tax Dept highest priority.
If the liquidators work out how to access and run wallets - they might have a crypto fire sale - and auction off all the crypto.
The reports say the directors are not cooperating - so the liquidators may not be able to access the wallets?
Given the vague status of crypto assets - the liquidators may choose to repatriate funds to owners (who are stakeholders afterall).
I would not get up too much hope on that though.
Cheers - usukan
It is so sad! I have 1/3 of my funds on Cryptopia! And a lot of money. "The reports say the directors are not cooperating" I hope so and i hope that the directors a good guys. But i dont think so.
May 15, 2019, 05:22:58 PM
Usukan, is there any update about the progress of work on new UTC you have mentioned before?
May 15, 2019, 04:16:52 PM
Yikes, how many millions of UTC just got removed from circulation due to this?
Interesting question Jarod1231
Usually the Liquidators seize all goods and cash - then have the legal right to sell it off to recoup the losses made by the company.
For instance even if you have paid for some goods in full, or you left your equipment on their premises - the liquidators seize them and sell them off.
Yes - its not a fair situation - but I think thats the way the law goes in NZ.
Of course you can challenge this but expensive and not guaranteed win.
There seems to be levels of stakeholders - crypto holders lowest priority - Tax Dept highest priority.
If the liquidators work out how to access and run wallets - they might have a crypto fire sale - and auction off all the crypto.
The reports say the directors are not cooperating - so the liquidators may not be able to access the wallets?
Given the vague status of crypto assets - the liquidators may choose to repatriate funds to owners (who are stakeholders afterall).
I would not get up too much hope on that though.
Cheers - usukan
May 15, 2019, 06:57:58 AM
Yikes, how many millions of UTC just got removed from circulation due to this?
May 15, 2019, 04:47:10 AM
May 15, 2019, 03:55:39 AM
Press release
15/05/2019
David Ruscoe and Russell Moore from Grant Thornton New Zealand were yesterday appointed liquidators of Cryptopia
Despite the efforts of management to reduce cost and return the business to profitability, it was decided the appointment of liquidators was, in the best interests of customers, staff and other stakeholders.
The liquidators are focused on securing the assets for the benefit of all stakeholders. While this process and investigations take place, trading on the exchange is suspended.
“Given the complexities involved we expect the investigation to take months rather than weeks.”
The liquidators are also working with independent experts and the relevant authorities with regards to the company’s obligations.
Grant Thornton will be contacting all customers and suppliers about its appointment in the next few days.
Further enquiries, please email [email protected]
15/05/2019
David Ruscoe and Russell Moore from Grant Thornton New Zealand were yesterday appointed liquidators of Cryptopia
Despite the efforts of management to reduce cost and return the business to profitability, it was decided the appointment of liquidators was, in the best interests of customers, staff and other stakeholders.
The liquidators are focused on securing the assets for the benefit of all stakeholders. While this process and investigations take place, trading on the exchange is suspended.
“Given the complexities involved we expect the investigation to take months rather than weeks.”
The liquidators are also working with independent experts and the relevant authorities with regards to the company’s obligations.
Grant Thornton will be contacting all customers and suppliers about its appointment in the next few days.
Further enquiries, please email [email protected]
May 15, 2019, 01:35:35 AM
What was a problem? Or still not working?
Out of curiosity is there any reason I haven't received any staked UTC since August of 2018? I consolidated all my UTC to one address on that date and haven't gotten a single stake since then
Still nothing, I just split them into piles of 25,000 UTC each like bluesman suggested, we'll see if that works
Might be cheaper to buy them for 1-2 satoshis now
May 09, 2019, 04:17:27 PM
What was a problem? Or still not working?
Out of curiosity is there any reason I haven't received any staked UTC since August of 2018? I consolidated all my UTC to one address on that date and haven't gotten a single stake since then
Still nothing, I just split them into piles of 25,000 UTC each like bluesman suggested, we'll see if that works
May 08, 2019, 12:21:11 PM
What was a problem? Or still not working?
Out of curiosity is there any reason I haven't received any staked UTC since August of 2018? I consolidated all my UTC to one address on that date and haven't gotten a single stake since then
April 30, 2019, 08:44:28 PM
Cryptopia is so slooooow. 
Our guy contacted them last week to see how they are going with UTC and to make sure they had the correct wallet code etc. and anything else they might need.
Yes they are slow but UltraCoin is definitely on their books
As you can imagine they are very busy
Cheers - usukan
April 08, 2019, 01:17:51 PM
I never really paid much attention to staking, as it seemed to me that returns were not high. What is yearly max percentage that you could get from staking?
Also, is it better to have wallet running 24/7 or just start staking from time to time?
Also, is it better to have wallet running 24/7 or just start staking from time to time?
The yearly average is 5.56%.
Is better to stake at intervals from 10 to 15 days if you have from 50000 - 60000 UTC or more. If you have less, you should use intervals of 2 to 4 months, so your transactions get some weight.
Also note that every time you stake, your transaction will split most of the time, so if you have 4 transactions of 15000 each one, after staking, you will have 8 transactions of 7500 each, plus the interest, and those will be counted for your next stake.
April 08, 2019, 12:39:38 PM
I never really paid much attention to staking, as it seemed to me that returns were not high. What is yearly max percentage that you could get from staking?
Also, is it better to have wallet running 24/7 or just start staking from time to time?
Also, is it better to have wallet running 24/7 or just start staking from time to time?
April 08, 2019, 08:33:21 AM
Out of curiosity is there any reason I haven't received any staked UTC since August of 2018? I consolidated all my UTC to one address on that date and haven't gotten a single stake since then
Great error. It is ok to consolidate all in one address but do not try to stake more than 50000 at the time. If you made a transfer of more than 50000 you will be staking that amount as only one trnsaction and it will take ages to get an stake. I have done it, and I could not stake for six months.
What I did, was to make transfers from 20000 to 35000 to the same address, and then stake, it worked just fine.
Hope it would help.
And, yes Valpe, I am clairvoyant.
BTW presstab worked fine for a couple of days and then UTC went down again, only four coins working at it.
April 07, 2019, 07:07:44 AM
My wallet works as it should. About 30 time today allready. (midday)
Out of curiosity is there any reason I haven't received any staked UTC since August of 2018? I consolidated all my UTC to one address on that date and haven't gotten a single stake since then
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