All exchanges work well until they don't.

I would play along with listing Uno on Yobit, but they give me the creeps. They are so focused on listing a stream of pnd coins and then dumping them from the exchange. Who are those guys anyway. Even the people we seemingly know who are running exchanges in countries with real court systems like Gox (Japan) Mintpal (UK) and Cryptsy (US) -- doesn't seem to make much difference.  The regulation theatre of bitcoin exchanges seems to be more for the benefit of the government ban hammer than it is for the protection of investors.

And now all withdrawals are halted.



and then this today



For the record, here is a copy of the phisphing email, which really did appear to come from Cryptsy support. The big question is how did the hackers get Crytpsy's customer list?



We Uno wallet watchers will keep a very close eye on the Cryptsy cold wallet.
15k Uno is a lot, but as a percentage its about what was stolen at Coinex.pw.  We can eat that. Give us a couple of months.

Sure, you can still mine uno. The difficulty is about 60m right now. Instead of solo mining, you might have more fun merge mining Uno/btc at mmpool.org or xpool.ca.
You'll be earning Uno and Bitcoin at the same time.

Then what are we seeing on Cryptsy?
Maybe the Mr. Unobtanium balls is depositing Uno to the hot wallet as an arb play, and people are withdrawing directly from there without affecting the cold wallet.

I don't think deposited Uno goes right to the cold wallet.  The idea would be they wouldn't tap it until the hot wallet is withdrawn below a threshold.

There are quite a few blocks on the rockchain that show quantities of coins being moved around. For example, there's about 400 Uno moved in block 718717, and then a similar amount moved in block 718996 that sort of connects to a large transaction on Cryptsy.  So it appears that someone is indeed arbing Uno to Cryptsy.

Damn that conspiracy that is keeping Uno at the top of page 2 at Bittrex. They can't deny us page 1 forever.



Meanwhile at that other place, prices hit 0075 at nearly 5 btc of volume.



I hope this translates to a big move out of the cold wallet. It hasn't moved in 3 days. I suppose it could be an arb trader with balls of unobtanium.

Uno folks do have their very own "off topic" thread. We should use it more often. It is on the OP.

https://bitcointalk.org/index.php?topic=881433.new#new  

---

Good Uno trade volume on Bittrex today. We missed being on the front page by about .3 btc.

Chainz explorer now reflects price of Uno at Bittrex.
They also updated the distribution to reflect some known miners, that will help shrink the "unknown" portion of the pie chart.

About 3 btc sold at Cryptsy today.

POS coins stolen from an exchange can totally screw that currency.

Remember Vericoin when they were hacked off of MintPal? They had to fork the coins back.

Last 30 days of Uno on Cryptsy, for the record.

If Cryptsy comes back (and I hope they do, but I doubt they will) then we can consider relisting them.   Their behavior and communication throughout has been incredibly reckless and thoughtless.

There's still alot of Uno there; even if it's all stolen, we can absorb it.  We've done it before. It will hurt the price for a while, but then it will go back to normal.

Time to move on.  Thanks for the memories, Cryptsy.

Once again, I talked myself into a corner, didn't I.  Thanks, @nat, for pointing it out.

The point I was trying to get at is like this: that price gold is what the price of gold is.
You can make something out of gold, like a ring.  Now you have a gold ring that ounce-for-ounce should be more valuable than the price of gold.
But the value of the gold itself is the same.
Uno's value is what it is, and there are no promise of future performance baked into the price.
but...
I agree with @IMZ's consistent point about the merchant and the innovator, because having the jewler in the market for gold creates demand and that will raise the price of gold. for everyone through scarcity.  I never denied this but I just didn't think it through all the way in my last rant.

Clearly, Uno is worth more on Crytpsy today because of the way it performs a special function: moving value out of cryptsy. But that function could eventually be stapled onto other coins, and then the price of Uno might fall at Cryptsy. But the point I failed to make clearly is that features can be appended to just about any blockchain coin. I welcome new features and uses for Uno; but unlike a thousand other unfair blockchains, I also value Uno for the core idea behind it.

Uno is a pure crypto "base metal," imo.  It is more fair than gold, because you know how much there is and when it will be discovered.   Governments can't claim the Uno reward for blocks 200,000 to 300,000 just because it happens to be in a mountain under their control.  You can't debase Uno by secretly mixing it with another less valuable blockchain. The way Blazr2 launched Unobtanium, with disregard for his own wealth, makes Uno different than almost anything else out there other than Bitcoin.  You can't staple fairness onto an unfair blockchain; you only get one shot at it and if you mess it up, its gone forever.

Some people say, "A blockchain is just a bunch cryptographically linked text," and that text files are not special, and that blockchain tech is the real value today not the stuff it encodes. Yes, Visa & banks want to use blockchain tech for their own profit driven purposes, and it may be the same technology, but it is still not the same "idea."  Beyond being "just a blockchain," Bitcoin is an idea that others have leveraged and built on top of.  

What a lot of people don't understand is that a blockchain, like a piece of paper that a poet writes on, contains ideas and morality (social, economic, technological). Embedded in the core of every one of the thousands of cryptocurrencies that have ever been launched is an idea.  Some of the ideas were, "let me scam as many people as I can," and "let me pre-mine this and dump it on the believers," or "This blockchain is only valuable because of me and my contributions and if I don't get my way, I am leaving."   Many of them were bad, immoral ideas, and so they have died an appropriate death after the ideas were vetted.

But Uno was a good idea in 2013, and is still a good idea in 2016. Fairness is a good thing among most people, and so Uno has lasted so long because it's a great idea, an experiment in scarity, fairness, fair distribution and everything else.

I don't deny that Bitcoin also has a lot of these characteristics of fairness/fair launch in its blockchain story.  Uno could only have been launched in 2013 in the shadow of Bitcoin. But Uno is a different metal when it comes to the mechanics of inflation and scarcity, and that to me is what makes it interesting.

So Blueman, if you want to update those awesome graphics, thats just fine by me.

What I love about UNO...

No POS inflation. It's pure, rare, undisputably fair launch, fair distribution crypto. No premine. Community supported and protected. No big promises that someone will do something to make you rich tomorrow. Low inflation to pay the network for 300 years.  

Go ahead and staple any features to it you want. Features will make it useful, not valuable. I welcome useful features. The value was baked in at the start by Blazr2. A thousand crypto have come and gone, but Uno is still here. 

It would take a miracle to save Cryptsy now. I'm hoping this will drag on at least another 30 days and that we can get all of the Uno out of there.

The Uno cold storage wallet at cryptsy is at 7.76% now. It keeps dropping.

We still have a great UNO market at Bittrex.com which is gaining strength. Despite the Uno we see piling up in the wallets there, it seems there is very little on the sell side.

Cryptopia.co.nz has give Uno base-coin status. Bleutrade is even seeing more trades lately and might catch on more.

We've lost our top market, but the future of Uno is far from bleak.  This is going to kill a lot of other altcoins though.

@Siameze, indeed it is.

@everyone, I've said it before. Uno is an open source project. I'm just a cheerleader. Anyone who wants to play on the team, let me know and if you don't appear to be a raving lunatic, I'll gladly add you to the honor roll. If you can help Uno, welcome.

@IMZ directed me to this article about Cryptsy... http://bitcoinist.net/cryptsy-has-moved-out-of-their-building-unannounced-nowhere-to-be-found/

Cryptsy's chatroom response to the article:



I have decided to delist Cryptsy from the OP.

Also successfully converted the last of my NMC mining dust to Uno, and was able to make a withdrawal moments ago. Uno withdrawals are still working.

Just in case you missed it....



Can you spot the UNO logo?

@smokes, right on. This is Uno's 3rd or 4th brush with exchange failings.  Uno will come through this ok, as before.

@siameze, I'd love to see Cryptapus on the dev payroll, and I am grateful to him for all of the good he has brought to Uno. He makes Uno more useful and fun with all the great stuff at https://cryptap.us/uno, and he has always given me excellent advice right when I've needed it. He has certainly earned his role as a respected community elder.

@everyone, Cryptsy was just bought up to 0095 today on 4 btc volume. The Cryptsy cold wallet is now below 8%.  If I recall correctly the coinex.pw theft was around 8% of supply at the time, so Uno is now in familiar territory.



[Pls keep any Cryptsy related posts here vaguely connected to Uno. I know newcomers are finding this thread by searching for "Cryptsy."  Welcome, and if you used Uno to escape Cryptsy, tell us your story.  If you need to generally vent about Cryptsy, visit this other thread.  ]

Interesting scenario #5, BN.  Cryptsy becomes Xrptsy.

#4, I had not really considered the possibility of Cryptsy loop arbing. Great point.

I am still curious about the behavior of the #1 UNO wallet, known to be Cryptsy's cold storage.  Half of it has been removed over the past 60 days.   Given all the problems, why hasn't more of it moved away by the owners?  If the intention is to sell it at Cryptsy at a premium price, then why is all that Uno in cold storage rather than on the sell book already?

Do they think the price of Uno is going to go even higher on Cryptsy?
Someone forgot about it?
Bad news travels slowly to casual crypto investors?
If Cryptsy owns most of that large Uno wallet, maybe they're holding it back for later while they sell off stakes in lesser coins.

I can't select a favorite theory just yet.

Hi Blakesss.  Offering speculative theories is a lot of fun, and my favorite part of crypto, so I'll play.

If Cryptsy fixed withdrawal issues today, it could lessen the pressure on Uno. Traders would no long need to buy Uno to escape Cryptsy. In the short term, the price of Uno on Cryptsy would fall, and slowly begin to rise again on other exchanges.  

If they go Gox, then the 3 obvious scenarios for Uno would seem to be: 1) its returned to its owners, 2) it's stolen and dumped back on the market over time (ala Coinex), or 3) it's completely lost forever when the servers are repurposed.

Scenario #1 probably sees the remaining Uno moved to Bittrex and traded out orderly.  #2 puts downward pressure on the Uno market for a few more months as its absorbed. #3 makes a rare coin even more scarce and rare, but creates some uncertainty moving forward just as the ghost of Wolong haunted us throughout 2014.

Whatever happens, even if Cryptsy fixes their withdrawal problems, I think it's over for them. Why go back to Cryptsy when there are better exchanges that do not have the long tumultuous history of pissing off traders. Its really sad, and I'm just hoping for an ending that brings the Un safely home.

What do you think?

Uno now selling for 0.0078 on Cryptsy.

Learminer has decided to add a warning about Cryptsy to Unobtanium.uno  I completely agree.