So fellers and lady fellers, how do we go about making UNO more desirable? Does anyone have a large stash of gold they are willing to start trading for UNO? If we had some sort of "standard" to trade uno against other than btc that could help (or hurt, i am a realist i suppose). Like potcoin, hopefully one day you will be able to exchange it for either pot or btc. What can we get with uno though. I am holding a bit of it so of course i want to see it succeed. That being said, without any real use for it, i don't ever foresee it becoming something of huge potential.
Just being rare is not enough. What else can we do? I like the precious metals thing for uno as i think that could help but i don't have a ton of money or precious metals to exchange. With the limited amount of uno it wouldn't be hard for someone to run the price up and keep it there, that is as long as there is some use for uno. Without utility it will always be this cycle of pump and dump. Yeah my opinion might be cynical but saying uno is undervalued simply because there is 80 btc for every 1 uno is stupid. It makes the community look basic.. durrr this rock is valuable because it is shiny. I can exchange those 80 btcs for a variety of things, what can i exchange my uno for? Btc. But who is going to ever wanna trade useful btc for useless uno? More so when the rewards drop to nothing. No one will mine the coin because there will be no reward, no one will be selling the coin, because it is too rare to trade, and no one will be buying the coin because there is nothing to do with it. I sure hope i am wrong here, but so far nothing has lead me to believe i am.
Can anyone tell me why i am wrong, please tell me i am wrong.
Just being rare is not enough. What else can we do? I like the precious metals thing for uno as i think that could help but i don't have a ton of money or precious metals to exchange. With the limited amount of uno it wouldn't be hard for someone to run the price up and keep it there, that is as long as there is some use for uno. Without utility it will always be this cycle of pump and dump. Yeah my opinion might be cynical but saying uno is undervalued simply because there is 80 btc for every 1 uno is stupid. It makes the community look basic.. durrr this rock is valuable because it is shiny. I can exchange those 80 btcs for a variety of things, what can i exchange my uno for? Btc. But who is going to ever wanna trade useful btc for useless uno? More so when the rewards drop to nothing. No one will mine the coin because there will be no reward, no one will be selling the coin, because it is too rare to trade, and no one will be buying the coin because there is nothing to do with it. I sure hope i am wrong here, but so far nothing has lead me to believe i am.
Can anyone tell me why i am wrong, please tell me i am wrong.
I can't tell you that you're wrong. You may be right.
It all sort of echos the great debate about Bitcoin vs the Alt Coins. I don't think that debate be resolved any time soon.
Here's a conversion that sort of sums it up politely: http://bitcoin.stackexchange.com/questions/24318/what-advantages-do-alt-coins-have-over-bitcoin
There are many, many other conversations raging right now that are not nearly as polite, such as "Operation Shitcoin cleanout."
As for UNO specifically, here's a thread by someone who likes UNO for rarity. I guess that's as good a reason as any, if that's what floats your boat. http://www.reddit.com/r/Unobtanium/comments/221s9e/why_buy_uno/ If a person doesn't like scarcity, then there's always Doge. Doge is cool, and great. Buy Doge if you want to.
I like UNO, and it's interesting how I'm always being asked to explain why. It's pretty simple for me; I like how UNO trades. I like that I can move this market. I think that I can, at this moment, accumulate a full 1 or 2 or more percentage of this entire coin. The trade dynamics are more interesting to me. BTC is so manipulated by huge whales, I'm just a plankton in the BTC sea. In UNO, at times, I can be the whale, at least for awhile.
As for what can be done with UNO, I think there's absolutely no way to match the infrastructure of BTC; there are hundreds-of-millions of dollars in VC money and capital investment flowing into BTC, and there is no way ever for UNO to ever catch up, surpass, supplant, replace or "beat" Bitcoin. But I don't think UNO has to "beat" Bitcoin. Eventually that investment being made in Bitcoin can and will be leveraged to support altcoins with ecosystems of any size. Why wouldn't it?? Exchanges understand that Alts = additional trades and revenue. In the same way that many payment processors let you select the currency you want to pay in, so will Altcoins be another crypto payment method. It's already happening, and will continue to happen. Anyone can accept UNO as a payment method through Coinpayments.net right now.
Many think that Alts rob Bitcoin, but I respectfully disagree. Even though they are all built with and powered by essentially the same technology, the world doesn't just have one country, or one city. The world has many fiat currencies when a single currency should do just fine, right? Nor do we all drive the same automobile. In the US at least, we can choose our own religeon (or not). We don't all go to one college. Why don't we all just eat soybeans -- they can meet all of our nutritional needs and we don't need any other food, right?
And so there are many altcoins. You can choose to live in a big coin (Bitcoin), in a medium sized coin (Litecoin), or an itty-bitty "small town" ecosystem like UNO, or even smaller if you wish (Aliencoin, market cap $1000?). Some alts are better than others. Some have already failed, and others will fail soon, or be abandoned (just like cities). Stay away from what you don't support or understand. It's your choice. BTC may be the last coin standing, or perhaps it will fail miserably because of some exploited yet-unknown bug, or because something better comes along. Nobody knows the future.
So what can be done to make UNO attractive? I ask myself this a lot, because I also want to see people interested in this coin. The basic things come to mind: basic services (mobile wallet), stronger community, a known road map, more frequent communication from the Dev. There's lots that could be done. That's lots of things that will happen anyway, just as a matter of leveraging the Bitcoin infrastructure.
As for me, I can enjoy trading UNO. It moves differently than Bitcoin. If I want to spend my UNO, I can trade it for Bitcoin, or Litecoin or USD, or something else. For me, the attraction of UNO is largely in its rarity. I don't want to buy into a coin where supply is being dumped so quickly that it's diluting my investment. I know how many UNO there are, and I know that it is mining out fast. That gives it certain trade characteristics, which appeals to me. If I can do more with UNO, like spend it, that's cool. If not, that's ok, because I can trade it for something I can spend. It doesn't really matter to me. I don't really want to spend UNO anyway; I like to own it and hold it long term.
I own about 90% BTC and 10% UNO, and truly see them as complementary, and not at war.
Anyway, my two-cents. Sorry to ramble on so long.
why would i spend bitcoin at overstock.com when i can just spend fiat much easier without fear of buying the day before a big price rise, amongst other fears that come with using bitcoin.
