Topic: Why is UNB price on fire? (Read 3090 times)

As i can see, it's steadily increasing again

One day's mining. I had over 1 PHs for a while, but the bid wars were nuts. All I was commenting on was that the coin is pretty much broken right now due to the 2016 block difficulty adjustment. By my count today there are 3 blocks/hour so the coin is basically frozen until block ~44352 which will take about 6 more days to reach from 43904 right now. Maybe the name was just asking for it? Kind of like saying a ship is unsinkable.

The descriptions above point to several "reasons" for this particular debacle. I have a different version, a worse one: It seem that, as Drkman notes above, a few decided to buy/mine the vast majority of coins, along with Blasco, controlling up to 1 million or more of the then available coins and with and implied if not explicit agreement to not dump their holdings at least until the announcement of Turpin was made and or the 100,000 sat mark was reached. It worked very well... for a while. Classic pump. Until something quite predictable happened: The big miners were alerted that UNB was, by far, the most profitable coin to mine, so the amount of hashpower pointed to it grew insane within hours, flooding at least 200,000 coins in around 24 hours into the exchange. And the dumping started... Many people had been cashing in on the way up since only about half the coins in the current float were controlled. After the dumping got into high gear, a lot of other people liquidated resulting in a lost, from highs, of more than 75%... and counting.

Because those miners are done with UNB. Never to touch it again unless it becomes very profitable again. Which it wouldn't. Because now the difficulty will decrease, the credibility of Jim Blasko has disappeared completely even though he probably has nothing to do with the whole debacle, and UNB not only won't be profitable to mine but will actually, in all probability, continue liquidating. The top 8-10 holders have seen their holds lose practically all it's potential value because if they sell, even orderly, they will be left probably with less than they actually put in since all of them have been trying to help stabilize the price by buying the little that the can afford, so they have no resources whatsoever.

The price is important always but vital in UNB's case since the potential of it's auction's site depends completely on it and at the current price and below, nothing will ever be sold there because the amount of coins required to win anything will be ridiculously high. Similarly, the price determines the situation with the miners: Too low and no one mines it; too high, everyone will for a few hours and then dump. Lose-lose situation either way.

The only variable is the hiring of Turpin. Best case scenario, it will contribute to rise in price... thus meaning the scenario repeat itself and a new much bigger dump will take place; worse case scenario, he will do nothing but send a few press releases out with no practical effect whatsoever. Turpin comes to this immediately after KNC Miner where he was in charge of PR and everyone in crypto knows what a PR nightmare NKCMiner is going through resulting in the practical destruction of the former most respected mining company in crypto, both reputation-wise and bottom line. Not the best background imaginable for Turpin who, apparently, is only paid in UNB so his payment will probably amount to less what he spend in shoeshining in a given week.

Another sad page in the history book of crypto.

Predictions? Nope, I don't do those either. You seem to be quite confused.

I managed to squeeze a bit of BTC from this as well. Mining/Renting, not speculating. One thing for sure is that Unbreakable has been broken (for a while anyways), with the 2,016 block difficulty change. After the insane amount of PHs pointed at it for a few days and the difficulty going from 8 then 13 to 53 M and then the PHs being taken away after the dump UNB is now experiencing 2-4 blocks per hour instead of 12. At the current rate this is going to remain this way for weeks.

No, actually made $50 =)

it did not take long for the 'd' to come 

hmm.. so you're denying a password change to your account?

Both UNB and Paycoin dumping in the same day, you are as accurate as Nancy Grace predicting OJ, Michael Jackson, Casey Anthony and George Zimmerman would go down Barry...

Excuse moi? who bought/borrowed my account? what password change? what neg trust?

This is and always will be the ONLY and REAL deal... although I am open to offers for sale always, of course...

very likely, saw the pw was changed.  is this enough for neg trust ?

Someone bought/borrowed the Barabbas account for this one. It was a big one

looks like the dump is full on.. down over 50% from the record highs in only a few hours.

Koontas. Fontas. Koolio. The name isn't terribly important I guess. The rich get rich, and the naive get rekt. Que sera sera

^original artwork is classy. This is going well...

UNB Trolls have been spotted...

Prometheus has nothing to do with UNB.

So is this a Prometheus thing? I've been waiting all week for this thread. But I'm trying to become less of an asshole. So I'll just pop corn

Big Vern from Cryptsy mention UNB and Jim the developer in his BTC Miami speech which started the interest in the coin in the first place.

i just don't see how this sudden increase in interest is in any way natural for any coin