I am now the proud owner of 3887 Solarcoins! It's not a lot, but a start.
BTC: 14nAytauuGTsnWbGxDuropawgpgGyV8gGW | SLR §: 8X3PKaV8dpm6Rnw3PDteEoyN2pzv2oHy5S
Status: 2/unconfirmed, broadcast through 7 nodes Date: 7/16/2014 05:42 To: Tachyon2032 8X3PKaV8dpm6Rnw3PDteEoyN2pzv2oHy5S Debit: -175.14672039 SLR Transaction fee: -0.10 SLR Net amount: -175.24672039 SLR Transaction ID: 457544a61cfa47fcac48459a75c21b0338b95d3cae624a2e0d471d724c8503f7  |
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Erm, I'm not sure if I should post the link here. I'm genuinely torn over whether a bit of sloppy work with paste-bin being used to save a private conversation should result in complete public exposure.
Suffice to say that, at this point, I know that Bohan is stepping down from GES because he says the accounts department, apparently, are pissed at him for not doing any other work for GES while he's been working on URO. You can ask him if you like, he'd be a fool to deny it because he'd have to know that I have come across the paste-bin IRC transcript.
But that seems kinda weird for GES 'accounts department' (where are they located BTW?) to be complaining to him about a project that, if it became successful, would net the company a fortune from being primary adopters.
If he's hired on to do a job and he doesn't perform all the duties set forth then they have every right to cut him loose. Not saying it's a fantastic plan. |
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+1, the fact that they didn't greed out at 0.05 with that many coins is amazing.
Means it is pretty legit. If they put orders for urea the profit will be far much much more.
Well that's not really true, though, is it? Evidence of coins being put into batches is not evidence of legitimacy and not having dumped at .05 isn't either. I don't think the .05 market price would have been able to provide much of a cash-out as the time period was so small for the initial spike. What is needed is independent clarification from boots-on-the-ground (journalist) in India who can confirm these things. By the way, if Bohan is the man behind this project, why would he be stepping down, that doesn't make sense to me, especially at such a critical time. He could very well be working on retainer. |
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im not selling until at LEAST $2800
It won't get that high. It'll mirror bulk rates only. |
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If the board decides on a block reward decrease will this require a hardfork?
Yes, changing the block reward structure or block times always requires a hardfork. Must remember we're halfway to block rewarding halving in the current code too. https://github.com/solarcoin/solarcoin/blob/master/src/main.cpp#L838…anything else looks to requires a code change. I think we can just leave it. It will probably make the coin more appealing if left without all the fancy hoo-ha. I can see a switch to POS, especially for what this coin is trying to achieve. A switch to POS before or during the roll out of the real grant program would probably help the coin quite a bit as you should only be able to get it from solar power and various solar related efforts aside from the IPO which also makes sense. |
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Thank You! I never before considered how GOVERNMENT REGULATION OF THE MARKET IN INDIA might play into this. COMPETITIVE ADVANTAGE. This document is proof of nothing other than that the Indian Government protects their domestic market far better than does the American Government. We are small fish swimming in the big pond, and lucky to be here. This coin is not at all what you are used to. It is valuable to the companies selling the urea to the Indian Government. My only concern at this point , is if the companies can continually cycle the 25000 uro already in their system to avoid having to buy more on the market.( In other words, transfer it back and forth between companies like a juggler juggles balls.)
The market is too large to cycle 25,000 URO between a few hands. This coin was designed with just enough "coins" to accommodate the current market with a built in growth factor. |
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URO over 127BTC on Bittrex
I think the volume is higher on Bittrex now because of the attack on Mintpal. |
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The need for a Distributed Urea Exchange
The international Urea market is incredibility inefficient, with very poor liquidity and a complete lack of agreement on pricing. The wholesale price of Urea can vary be as much as 300% between different markets, nations and regions.
Now if we were talking about the trade of designer handbags, this would not be such a big problem, but no, we are talking about 50% of the world's food production being jeopardized by 300% price fluctuations.
This is how they will recoup costs. Some regions it costs more, if they sell one uro for say 20% above base market value, or even 50% above base market value people will flock to their company to buy. This is business in India, it's much different than most westernized countries where commodity markets help keep the prices in check. it's more ad hoc. Ges is brilliant, they're cutting out the middle men and banks and keeping the system sane. |
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Can someone please explain how they ever plan on turning a profit?
Let's pretend that the deal is real and someone just bought 12500 metric tons for about $60 000. That puts them down about $3 000 000.
Until the price of URO/UREA reaches the same price as FIAT/UREA they will be losing money, and if it does reach the same price they still would not be making any money because they are selling UREA.
So do they only plan on making money day trading (which sounds extremely sketchy)? And even if they are, if the price of URO/UREA were to reach the price of FIAT/UREA there would be no reason for people to still hold the coin, which means they will have to buy back any coins that people sell or else they will be still be selling UREA at a loss.
Am I missing something?
They bought 12500 metric tons for 12,500 URO not $60,000. How much they paid for the URO is irrelevant. Eventually when the company that sells the urea for URO has the majority of the URO it then sells it back at market prices to the buyers of urea. How much someone paid for the URO is relevant because they just gave them $3 million worth of UREA. It doesn't matter what price they sell the URO back at because they will have to give away another $3million worth of UREA. Okay, point taken. I gave it some heavy thought and I think I've concluded ges wlll make up the difference in the spread, that is sell the uro back on the market for slightly more than market prices. That way both parties still avoid bank charges and ges recoups the initial costs. Not to mention fraud. |
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Can someone please explain how they ever plan on turning a profit?
Let's pretend that the deal is real and someone just bought 12500 metric tons for about $60 000. That puts them down about $3 000 000.
Until the price of URO/UREA reaches the same price as FIAT/UREA they will be losing money, and if it does reach the same price they still would not be making any money because they are selling UREA.
So do they only plan on making money day trading (which sounds extremely sketchy)? And even if they are, if the price of URO/UREA were to reach the price of FIAT/UREA there would be no reason for people to still hold the coin, which means they will have to buy back any coins that people sell or else they will be still be selling UREA at a loss.
Am I missing something?
They bought 12500 metric tons for 12,500 URO not $60,000. How much they paid for the URO is irrelevant. Eventually when the company that sells the urea for URO has the majority of the URO it then sells it back at market prices to the buyers of urea. |
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I have hosted miners with GAW and have had nothing but issues the last 2 1/2 weeks.. And they wont tell us what is going on or why.. I open many tickets each day reporting the same issues over and over and over. Actually one of their Tech guys had the nerve to tell me there was no issues going on.. WTF.....
I have lost total faith in this company and will never spend another dime with them..
I am having issue since June 30th on hosted miner and it is still not being resolved. Anyone else having this issue? Yup, have a couple of hosted miners and they are all down for the past day. Been having issues with very significantly lower hash rates sporadically for the past few weeks. I'm having similar issues. They did replace one of the miners (to their credit) but the other one is malfunctioning also. I did get a response from the tech about the second miner malfunctioning, I can assume he's working on it. I sent in a ticket about some missing reward points and nothing's being done about that. I called their sales line and was hung up on by the automated software. |
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I am not sure what is going on over at GAW but whatever it is, its not good..
Things had been running pretty smooth for about 5 or 6 weeks..
Then about 15 days ago, all hell broke loose and nothing but issues daily..
Honestly I am starting to get the feeling I am getting the run around from them..
Anyone else having these issues?
Yes. They sold me 2 defective Black Widows. They replaced one and I think they might replace the other one, but it's taken over 2 weeks. The system never credited me some reward points and the customer no service is ignoring my ticket. |
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Hopefully we can get the block reduction implemented soon. Like yesterday  I am done accumulating so i approve this message now.  (Will never be done accumulating) Hahahahaaaaaa! /evil grin |
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So riddle me this: Which designer of URO thought it was a good idea to distribute URO to the mining public, which will theoretically entitle them to a vast amount of $ in urea? Like if I'm Microsoft right, and I create a virtual currency (call it Xbox points), why would I give them to a bunch of random nobodies that have nothing to do with Xbox or Microsoft for free?
That's what I really can't get over, aside from the general lack of market demand for such a coin among probably anyone in the commodity trading ecosystem.
And by the way, I know that the average BCT member has a terrible background and no experience with anything remotely approaching any type of financial market, but the fees people pay to banks are for a reason, and in any case the fact that they use dollars or euros vs. URO is not the issue, and if there were a market opportunity to avoid the fees it would be taken completely irrespective of URO.
I don't think I've put anything unfair or hostile in this note, but it isn't cheerleading so will it be deleted...?
Why would Apple sell shares to samsung bobo's? I guess this goes back to my point that BCT members don't know anything about finance; an URO coin is nothing like a share in apple; GES or whatever is not issuing equity and you are not buying equity in anything by owning URO. Yikes. Here: this is from the uro blog Market creation and growth via “Earned Distribution”: to have a market – you need mass participation. What is the point of Uro if – when it reaches its proper value – that only a few hold it? There will be no point to such a currency – currency is something that is useful for exchange between people – especially strangers. The bigger the market the better – and we believe that the best way to create a large market is through what we call “Earned Distribution”: everyone that is holding Uro have earned them – by mining to keep the network operating, by contributing to the community via posting new information to strengthen its value, by buying some Uro. This is the free market at its best – mass participation with no freeloaders. Please dont think that only the miners or day traders are on the exchanges- i got a few farmer friends in India and after speaking to them, i have bought some uro for them as well. And m not too sure if Rivaa Exports who placed the first order with 12500 uro were mining either.( here is the transaction http://uroexplorer.cryptocuttlefish.cc/address/UkTxkgTehxnrrmuUdx8hXre2GyUaeNasbW ) Hope this solves your riddle. Thanks Let me ask my riddle then this way: if you insist on giving away URO in order to spur adoption, why not give them to people that own urea? Why give such a valuable amount to miners / etc? You are giving those parties a totally unreasonable amount of compensation that will massively turn off people that actually own urea. OK? It is like if (suppose for a moment I can create URO coins arbitrarily) I told all the owners of URO, who have something that currently has value, that I am creating a ton of new URO and giving them to other people for nothing. You would scream that the price might crash as they get dumped, why are you doing that, those people don't deserve valuable URO for doing nothing, etc. You see the issue? This is what is being done to urea holders. Except in practice it will simply prevent urea holders from signing on to the system in the first place. There are 3 parties involved in a commodities transaction. The producers, the processors and the traders. You can't have a free commodity market without traders. Are you suggesting that the average URO holder has any ability to trade urea? You are making my point. Why give so many URO to miner and investors that have no connection to the urea market? The network needs miners to maintain it, those miners need to be compensated. Nobody is giving anything to investors, they buy it from the miners... There's that also. |
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So riddle me this: Which designer of URO thought it was a good idea to distribute URO to the mining public, which will theoretically entitle them to a vast amount of $ in urea? Like if I'm Microsoft right, and I create a virtual currency (call it Xbox points), why would I give them to a bunch of random nobodies that have nothing to do with Xbox or Microsoft for free?
That's what I really can't get over, aside from the general lack of market demand for such a coin among probably anyone in the commodity trading ecosystem.
And by the way, I know that the average BCT member has a terrible background and no experience with anything remotely approaching any type of financial market, but the fees people pay to banks are for a reason, and in any case the fact that they use dollars or euros vs. URO is not the issue, and if there were a market opportunity to avoid the fees it would be taken completely irrespective of URO.
I don't think I've put anything unfair or hostile in this note, but it isn't cheerleading so will it be deleted...?
Why would Apple sell shares to samsung bobo's? I guess this goes back to my point that BCT members don't know anything about finance; an URO coin is nothing like a share in apple; GES or whatever is not issuing equity and you are not buying equity in anything by owning URO. Yikes. Here: this is from the uro blog Market creation and growth via “Earned Distribution”: to have a market – you need mass participation. What is the point of Uro if – when it reaches its proper value – that only a few hold it? There will be no point to such a currency – currency is something that is useful for exchange between people – especially strangers. The bigger the market the better – and we believe that the best way to create a large market is through what we call “Earned Distribution”: everyone that is holding Uro have earned them – by mining to keep the network operating, by contributing to the community via posting new information to strengthen its value, by buying some Uro. This is the free market at its best – mass participation with no freeloaders. Please dont think that only the miners or day traders are on the exchanges- i got a few farmer friends in India and after speaking to them, i have bought some uro for them as well. And m not too sure if Rivaa Exports who placed the first order with 12500 uro were mining either.( here is the transaction http://uroexplorer.cryptocuttlefish.cc/address/UkTxkgTehxnrrmuUdx8hXre2GyUaeNasbW ) Hope this solves your riddle. Thanks Let me ask my riddle then this way: if you insist on giving away URO in order to spur adoption, why not give them to people that own urea? Why give such a valuable amount to miners / etc? You are giving those parties a totally unreasonable amount of compensation that will massively turn off people that actually own urea. OK? It is like if (suppose for a moment I can create URO coins arbitrarily) I told all the owners of URO, who have something that currently has value, that I am creating a ton of new URO and giving them to other people for nothing. You would scream that the price might crash as they get dumped, why are you doing that, those people don't deserve valuable URO for doing nothing, etc. You see the issue? This is what is being done to urea holders. Except in practice it will simply prevent urea holders from signing on to the system in the first place. There are 3 parties involved in a commodities transaction. The producers, the processors and the traders. You can't have a free commodity market without traders. This is of course wrong, but more to the point, are you suggesting that the average URO holder has any ability to trade urea? You are making my point. Why give so many URO to miner and investors that have no connection to the urea market? If you truly want to understand, study any commodities exchange. The average holder of URO DOES NOT NEED TO TRADE UREA. They hold a token of trade which can be sold to a PROCESSOR of the COMMODITY. The processor takes the URO (token of trade) and uses it to BUY product from the PRODUCER who then has a token of trade in their vault. Once the majority of tokens have been traded into the vault it creates a vacuum for this token. The producer has the power of the purse and can sell at market prices BACK TO THE BUYERS OF THE PRODUCT. Once the average trader sells all their URO, it's gone from the hands of the traders, or in this case miners. Not to say you can't still buy it and speculate on Urea/bitcoin market fluctuations. |
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So riddle me this: Which designer of URO thought it was a good idea to distribute URO to the mining public, which will theoretically entitle them to a vast amount of $ in urea? Like if I'm Microsoft right, and I create a virtual currency (call it Xbox points), why would I give them to a bunch of random nobodies that have nothing to do with Xbox or Microsoft for free?
That's what I really can't get over, aside from the general lack of market demand for such a coin among probably anyone in the commodity trading ecosystem.
And by the way, I know that the average BCT member has a terrible background and no experience with anything remotely approaching any type of financial market, but the fees people pay to banks are for a reason, and in any case the fact that they use dollars or euros vs. URO is not the issue, and if there were a market opportunity to avoid the fees it would be taken completely irrespective of URO.
I don't think I've put anything unfair or hostile in this note, but it isn't cheerleading so will it be deleted...?
Why would Apple sell shares to samsung bobo's? I guess this goes back to my point that BCT members don't know anything about finance; an URO coin is nothing like a share in apple; GES or whatever is not issuing equity and you are not buying equity in anything by owning URO. Yikes. Here: this is from the uro blog Market creation and growth via “Earned Distribution”: to have a market – you need mass participation. What is the point of Uro if – when it reaches its proper value – that only a few hold it? There will be no point to such a currency – currency is something that is useful for exchange between people – especially strangers. The bigger the market the better – and we believe that the best way to create a large market is through what we call “Earned Distribution”: everyone that is holding Uro have earned them – by mining to keep the network operating, by contributing to the community via posting new information to strengthen its value, by buying some Uro. This is the free market at its best – mass participation with no freeloaders. Please dont think that only the miners or day traders are on the exchanges- i got a few farmer friends in India and after speaking to them, i have bought some uro for them as well. And m not too sure if Rivaa Exports who placed the first order with 12500 uro were mining either.( here is the transaction http://uroexplorer.cryptocuttlefish.cc/address/UkTxkgTehxnrrmuUdx8hXre2GyUaeNasbW ) Hope this solves your riddle. Thanks Let me ask my riddle then this way: if you insist on giving away URO in order to spur adoption, why not give them to people that own urea? Why give such a valuable amount to miners / etc? You are giving those parties a totally unreasonable amount of compensation that will massively turn off people that actually own urea. OK? It is like if (suppose for a moment I can create URO coins arbitrarily) I told all the owners of URO, who have something that currently has value, that I am creating a ton of new URO and giving them to other people for nothing. You would scream that the price might crash as they get dumped, why are you doing that, those people don't deserve valuable URO for doing nothing, etc. You see the issue? This is what is being done to urea holders. Except in practice it will simply prevent urea holders from signing on to the system in the first place. There are 3 parties involved in a commodities transaction. The producers, the processors and the traders. You can't have a free commodity market without traders. |
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is pretty convinced that its real however i dont understand why ges would do this why shouldnt they just their product for a set price , why give away 2-3 shipments for a cheap price ? i dont see the benefit for the company
No one is giving anything away. In the first 10 years there will only ever be 2,000,000 URO maximum. That's enough for 160 orders of product. Right now there's only about 300k floating about, that's enough for 24 orders. As Green Earth collects this URO into their wallets the supply of URO goes down, driving prices up. Eventually they will control most of the supply and they will have cornered the market. They then sell their URO at market prices and people who actually need the product who have the available cash will buy it in order to save on bank fees. tl;dr Green Earth collects URO, corners market. Green Earth sells URO for market prices. Buyers buy URO to trade for product. Cycle repeats. How hard is this to understand? It's not freaking rocket science. Why don't you use your head for something other than a hat rack? 160 orders? or 24 orders now...the uro are not destroyed upon being spent. we could see 50 orders happen right now if they were spent on urea and sold back from the NEIRs into the market. fortunately no ones thatd dumb at the moment as the price is still so low they wouldnt sell the coins back into the market until it gets up towards 1:1. There aren't 560,000 URO in circulation right now so that would be impossible. The URO aren't destroyed that is correct, but if they're taken out of circulation temporarily but the acceptors of the currency that creates a vacuum. That vacuum will be filled once the coins are released back to a hungry market at market value. |
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So riddle me this: Which designer of URO thought it was a good idea to distribute URO to the mining public, which will theoretically entitle them to a vast amount of $ in urea? Like if I'm Microsoft right, and I create a virtual currency (call it Xbox points), why would I give them to a bunch of random nobodies that have nothing to do with Xbox or Microsoft for free?
That's what I really can't get over, aside from the general lack of market demand for such a coin among probably anyone in the commodity trading ecosystem.
And by the way, I know that the average BCT member has a terrible background and no experience with anything remotely approaching any type of financial market, but the fees people pay to banks are for a reason, and in any case the fact that they use dollars or euros vs. URO is not the issue, and if there were a market opportunity to avoid the fees it would be taken completely irrespective of URO.
I don't think I've put anything unfair or hostile in this note, but it isn't cheerleading so will it be deleted...?
You have a valid question. And here's the answer. The devs of URO are creating value. There is no premine which means all the coins are in public domain. It doesn't matter who holds the initial coins, they are marketed towards those who need actual product and are willing to pay close to market value. Once these buyers of commodity have these tokens, they can then trade them to the producers for the product they need. As soon as the market realizes the coins are being bought up, the value will rise towards the value of the commodity. I'm sure they could have premined everything and kept it a private IPO. I don't know what the advantages are one way or the other but both methods are sound. |
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is pretty convinced that its real however i dont understand why ges would do this why shouldnt they just their product for a set price , why give away 2-3 shipments for a cheap price ? i dont see the benefit for the company
No one is giving anything away. In the first 10 years there will only ever be 2,000,000 URO maximum. That's enough for 160 orders of product. Right now there's only about 300k floating about, that's enough for 24 orders. As Green Earth collects this URO into their wallets the supply of URO goes down, driving prices up. Eventually they will control most of the supply and they will have cornered the market. They then sell their URO at market prices and people who actually need the product who have the available cash will buy it in order to save on bank fees. tl;dr Green Earth collects URO, corners market. Green Earth sells URO for market prices. Buyers buy URO to trade for product. Cycle repeats. How hard is this to understand? It's not freaking rocket science. Why don't you use your head for something other than a hat rack? Heyyy now no need to be offensive, It is a legitimate question and I don't think he was trying to troll. I'm not trolling, I'm irritated. He's trolling. That same question has been asked over and over again by the trolls. No matter what response is given they keep asking it to spread FUD. |
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Hmmm, you do realize that thread is self moderated right?
Your automated response bots do not amuse me. |
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