Topic: [UNO] Unobtanium Info & Discussion - Hardfork block 1042000 - Merge Mine w/BTC! - page 510. (Read 1047042 times)

It does definitely stand out from the rest. What merchant network ? I can see this being used in nightclubs in the future ...maybe in a VIP area or in Vegas. Something feels premium about it..   

UNO is valued first for what it truly is. It's a vetted,  long lived, rare, fair launch, low inflation cryptocurrency, pure POW and no POS, no premine or instamine, with a merchant network, devs and a solid long term community. And yet it is the best store of value in Crypto. Nothing backs it except it's community. Beyond that, it's an open platform that anyone can build on.

But if you're also asking, what is giving Uno it's current value?  We value it simply because it is Uno.  It is what it is.  Very few cryptos are valued in this manner, almost as a rare commodity. It's really the first sustained rare crypto currency that is valued for its rarity. It is authentically Unobtanium.

Here is what it is not: there are no fake or prentend projects that give Uno it's value. There's no "big bet" promises out there to disappoint or fail. It's not a company, or an app. There are no telephone calls, no messaging apps, no deals with Africans, no built-in exchange. It's not backed by fake bullion or hash contracts. There are no promises of 100% annual interest. It's not backed by anything other than its community, and its story.

Uno has survived a huge pump, loss of devs, a soft fork, 5% of it's coins being stolen at Coinex and dumped at Cryptsy, the loss of 1000 coins at MintPal.... there have been hardships that have tested Uno, and every single time it comes back stronger. It's a survivor.

There will be plenty of time to build things on Uno. But for now, the valuation you see is based on what Uno is right now.  There are no future expectations of any use case baked into it's current price.

Are there any plans for UNO yet? New projects n stuff?...

Genesis-mining.com is as good as it gets in the mining world.  If you're into cloud mining, I can recommend them based on my own experience so far.
The current hashrate of Uno according to Chainz is 25 Ths.  If we were going to collectively add a meaningful amount of hash (say 20 Ths) to Uno on Genesis, this is what we're looking at:



And even if we did add 20 Ths to the current 25 Ths, 45 Ths is still a tiny drop in the bucket compared to even just 1 PHs we could glean from merge mining with Bitcoin. Buying 20 THs would likely have a negative incentive on current miners, and I would predict the overall hashrate would probably drift back closer to 25 Ths as they leave.

I have to ask if it's the best use of the community's resources, when the Bitcoin hash is "free."  Would those funds be better spent on other projects like price stabilization, liquidity, etc?

@ FK: we must all be careful to not over-schedule ourselves; but I think your how-to-set-up-a-mining-rig thread accords with our commitment to tech-support for 'The 99%.' It's a great idea!

@ Our Own Mining-Setup: sigh sigh sigh. I feel like such a Negative Nancy:

Yeh, it's a cool idea; but past experiences whisper to me that the degree of organisation required -- specifically in a pseudonymous libertarian environment -- would bring it to a bad end.

The alternatives, however -- purchasing new coin at a premium from known miners, and buying chunks of 'altruistic hash' from Genesis or the like -- are readily available. Could we at least sharpen our organisational skills on these two lesser options first? [I would also like help to figure out how a chunk of Genesis could be set up as an asset for the Distributed Vault.)

m

IMHO would agree to Option #4, merge-mining with BTC.  Would be a huge strength.  I wish I would understand any technical risks, but I do not.

-MUST stay @ 3 minutes and maintain the loooong reward schedule rigidly.

Like I've said, BTC isn't going away.  That might be key.

I totally love this idea! As long as someone documents and takes some occasional photos and we can see numbers and such, why not?!

They sold into strength, but who's going to be in a hurry to rebuild?  Aren't we a patient band?  They basically opened up the spread a range lower.  The effective liquidity dropped from 0.0108 to 0.0101.

And on the Positive side:

# Un-Ex enthusiasts are ecstatic to announce that Benefactor has put up a sum to advance the Core-tanium experiment. He kindly donated 10 Uno, which will become .1 Btc (which -- wa ha ha -- will be destined to become . . . Uno!)

# A second amount of Love-Your-Miners Uno was purchased. The premium paid was small, but it's a start

# Who noticed that Bitcoin Charlie has pledged $500 for the U.S. merchants' liquidity engine?

# Guys, say something encouraging to cragv when he cruises through. His business is one of a tiny group of non-Net enterprises in the world that accepts Unobtanium. He has undertaken to bang his head against the brick wall of onerous Australian cryptographic-currency tax regulations. In short, he's effectively taking a loss to enlarge the Unobtanium merchant network. Go, cragv!!

@ Benefactor: our time is at hand! The next halving is soooooo close. Surely within six or eight months these potato heads will be saying, 'Did I really dump hundreds of Uno at .01? Gee, I must not have done my homework on that coin's fundamentals!'

On a related note, one of the things I hope we all get out of being part of the UNO community is a better understanding of crypto and how it works.

Would anyone be interested in splitting off to a thread where we can talk about nube mining with Sha256?  
You could buy a cheap rig off ebay, or even just an antminer USB miner for about $15, and we could go through setting it up, how to solo mine. I was thinking we could use Blazr2's  23Skidoo as our "project." I think anyone could do it, and many of you are already doing it. We'd cover setting up the mining software, setting up the hardware, configuring the coin.conf file, difficulty, etc.  I'd recommend before spending a lot of money on gear, why not just pick up something cheap and get a little experience first.

If nobody is interested that's fine. But since we're talking about mining anyway, and some of you seem curious, why don't we dip a toe into mining with some cheap 2nd hand gear just for the sake of education?

I missed the 300 dump, did it get ate up or did they take it down? 

Like clockwork, just a thread-reading time after posting this, there's a Cryptsy dump of 300 UNO, dropping bid price from 0.0108 to 0.0101.  Sure, this could be anyone, but I really don't think this is a coincidence.  As soon as you call inhumane psychopathy by its real name, they lash out.  Everyone should see this for what it is, and not be FUD'ed into rashness, affected by it.

Well, you know what, folks?  Be happy for any further discounts.  We buy it up, and take it off of Cryptsy.  If they are trading with fractional-reserve coins, like other exchanges have, (and I don't actually think they are,) then someday they will have to answer for it.

[Edit:  I really don't think Cryptsy are the bad guys, but being the largest UNO market by far and having powerfully shrewd algo bots on there, the difficulties can generally be traced to there.  We don't know who the evil ghosts are.  It's tough, but we fight onward....]

Last time I vaguely referenced this phenomenon, the whole forum went down, and the post lost, unrecoverably.  

With mining equipment becoming cheaper, does it make sense to create a community hash farm?

Does someone have the know-how and the cheap electricity to operate it?

-We all could chip in initial costs to buy the equipment and ship it to the installation(s).
-The rewards could be converted to cover electricity costs.
-People could pledge to also make monthly contributions to cover any shortfall in electricity costs.
-The community can continue to buy equipment to add to the hash as the price goes down.

I think in the long-run, the hash "problem" should best solve itself when the rest of the world figures out UNO and the chart goes vertical because even a very small amount of UNO becomes a very big reward.

Just a thought.

The same contribution fund could go toward a community Genesis mining fund as well?

EDIT: I would contribute initially and monthly to such a situation.

What do you see the max possible price of 1 UNO : BTC?

"[MM-ING with Btc is] not as any sort of capitulation to Bitcoin, but simply as a practical solution."

nope yep

@ Blazin: 50% higher in price -- halving! Increasing price-independence. Solidly improving community reputation. A kick-butt 365-day chart.

Where do you guys see 1 UNO in 12 months?

First (hasty) draft:

# I only get a half a vote: my knowledge of mining is pathetic
# raising Uno’s price should (probably) be as-well-as not instead-of
# MM-ing with Btc is a worthy option: I really really really don’t think Bitcoin will collapse any time soon
# trust your dev. His opinion should bear great weight
# Yeh, I noted what B.N. did: Mazacoin is doing well. Will check Zetacoin. (Have we any keen Zetacoiners here?)
# if we propose that another coin MM with us, is there anything we can offer in return? To sweeten the deal?

EDIT:

'@ B.N. can you teach me what a snap shot is? '(or snap shot UNO)'

"***building an AuthPow/Uno/altSHA ecosystem this may work, let the devs discuss, all it takes is 3-4 top players (say maza, uno, zeta plus launching a few smart multi algos) ... badda bing we are competing with SHA10min."

Sounds hard to arrange but interesting

You are absolutely right! I edited my post and added option #2.5 to recognize this strategy: raise the price.  If Uno was at .003 right now, our hash would probably only be from a few altruistic hashers. Our current price is supporting our present hashrate, which is enviable in altcoin circles.
There are guys out there (probably even our own ProminerOne) who could put up 30 ths in an instant. It's a good amount, but it's really not a lot by today's standards. If Uno's blocks were built on Peta hashes (thousands of Ths) an attacker would find it extremely difficult to go back and rewrite the blockchain.

I am in agreement with Benefactor.  The strength of our community is our core competency.

UNO is royalty. It can slowly become the "reserve currency" of crypto. The settlement currency, if you will.  I imagine our slow growth is similar to the takeover of the pound sterling by the then gold-backed US dollar as world reserve currency, ie perhaps we will overtake BTC.

The growth needs to be as it is now, slow and steady! Don't forget the turtle!