Bitcoin Forum

UNB is up over 5,000% in the past couple days.. any ideas on why?
I have noticed that the mining difficulty seems to be stuck at a low 13.3M.. one would suspect that with the price rising so too would the difficulty---

Maybe, but supposedly UNB had no pre-mine .. very odd.

If there's very low volume and a huge rise in price it's a usually a scam.

200 BTC volume is not low

And if price remains high and going higher, auctions non their site will take off like a rocket

I feel often threads like this are part of the pump...I wish their was a sage function here

i assure you I am only curious.. the only thing I've done is point some hashing power to mine some of this garbage and then sell it.

There must be Pumping and SCAM!!! No other reasons.

You don't need a premine when your coin is virtually dead for months.  You can just buy it all for dirt cheap.  
The coin is recently up over 30X over the past several days.  Was a great and fast pump that may end in a bloodbath on Feb 1st. as the coin really offers zero tech, expertise, or value and has been pumped too far by everyone who is waiting to hear about the "new marketer", rolls eyes.  Smart money will have dumped all before then or during it.  The built in annualized 50% inflation rate is a doosy too as those find their way into the market to be dumped.

This is not a POS coin with hyper inflation. This is a POW sha 256 coin built off of Bitcoin

The community has been growing over the last 10 months and people are starting to get behind the coin, It was recently added to Multipool, Coinwarz.

Since then it has been on a rise and now seems to have taken off, there are only 2 million coins in circulation and a growing difficulty which is helping to increase the price

there are approx 400,000 trading on the market which also increases the price

someone or a group of users pumping this coin, while it has nothing interested in this,possibly they have big part of UNB to them and after pumping they want to attract peoples and when people put their order dump them
if you are planning to invest in this coin then first you should read their ann thread, have a look at their community and market, you will find if it s really worth of it or just a pumping coin

Aw man, and I was going to suggest it to be added to the SN... I guess no ah? Better to stick with VRC, that's a gold mine indeed.... lolololol.

You do know about the auction site, don't you?

Well you got that wrong.  Most all POS coins have 2%-10% inflation.  This one right now has over 50%.

and in a years time there will be over 3,150,000 UNB coin which is over 50% inflation, or dilution or emission.  Whatever you care to call it.  Regardless there is small supply now with a fast emission curve and a straight up price spike and common sense screams GTFO because again, there isn't any special tech here, just another Bitcoin clone.  All this adds up to an engineered price spike that can't last.  P.S. Get the dev to tell everyone the total auctionwebsite sales over the past month.  I bet its not much more than 0.

That is a cheap shot man. How could they sell anything when the price of the coin was so lows that you needed thousands to pay just for shipping items?
Now it is a different reality altogether and you will see the auctions move really fast as the new price stabilizes. Plus a huge majority of people in crypto has never heard of UNB yet. Wait till they do...

I don't know if it will continue going much higher or not, but I do know that if the price stabilizes around 60K, the auction site will get very, very active. Guess what? A digital currency with immediate use case in the real world. Shocking ah?

Why is this interesting? There are a hundred auction sites and most of them are crap. eBay isn't even an auction anymore with buy it now and things like quibids are complete scams where you have to buy bids.

Ok, having looked at the auction site I can see why this may contribute to the price increase-- although it is sure to fail.

1. The auction site has a very few listings, mostly worthless baseball cards but there are 2 sets of items that may be driving up the price:
a) cars listed at 1500 UNB and b) $1000 gift cards to walmart or bestbuy listed at 525 UNB.

Whoever is selling a car or $1000 gift card for 25% or less of its value is either a scammer or an idiot.
BUT if the price of UNB is bid up so that the discount is very small that may work.

This is sure to fail however. Why would anybody want to sell something for UNB instead of dollars unless they could use those UNB to buy something else- and for now they can't unless they want to sell a car to buy gift cards.

This. It's a classic coin pump.

It's very simple.

DEV (name and location available if required) has been building up this coin for months now.

As you can see on the official site, he has been attending various crypto fairs and meetups, promoting his coin, giving away mugs/shirts, whatnot.
http://www.unbreakablecoin.com/updates/conventions/ (http://www.unbreakablecoin.com/updates/conventions/)
http://www.unbreakablecoin.com/updates/2015-conventions/ (http://www.unbreakablecoin.com/updates/2015-conventions/)

He finally got some attention from a big group of people related to crypto at one of those conventions, presented few projects, and PR campaign has started.

As for the auction site, i've helped him build and modify it, and i can tell you there's an increase of sales there also. Yes, only a few listings, but enough to bring some attention.

You probably meant "classy". Just hit a new all time high at 87K

In a class by itself indeed.

Without the "D", of course. Classic, indeed.

yep absolutely no dump.  we "promise".  until tomorrow that is.

No on e has promised diddle doo. But so far, no "D". What are you going to do if no "D' at all. Tomorrow or any other day?

Oh I know, you jjust won't show up and somehow will convince yourself that you were right and that the rest just did not "get" it.

Must be nice...

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

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.

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 :-X

Prometheus has nothing to do with UNB.

UNB Trolls have been spotted...https://i.imgur.com/OgM5eVY.png

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

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

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

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

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

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...

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...

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

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

No, actually made $50 =)

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.

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

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.

http://i877.photobucket.com/albums/ab338/JaggedSteel1/UNB_01_zpsf1462cec.jpg

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.

As i can see, it's steadily increasing again