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UTC PUMP EASY GOING
Okay lets make a new pact as great community
im doing this with PaulR.
And hopefully some people will join here!
On CT you can buy UTC up to 0,00015 easily with 1,8 BTC on cryptsy you need more then 10.
Step 1: Together ad european time around 8 a clock at night lets buy from the sell side on CT.
Step 2: At that moment lets start with spamming cryptsy again from look at CT and cryptsy will follow in a second
Step 3: Keep on spamming and we get the pump to 0,00020 again!
SO WHO WILL JOIN PAULR AND ME ON THIS
[/color]
Okay lets make a new pact as great community
im doing this with PaulR.And hopefully some people will join here!
On CT you can buy UTC up to 0,00015 easily with 1,8 BTC on cryptsy you need more then 10.
Step 1: Together ad european time around 8 a clock at night lets buy from the sell side on CT.
Step 2: At that moment lets start with spamming cryptsy again from look at CT and cryptsy will follow in a second
Step 3: Keep on spamming and we get the pump to 0,00020 again!
SO WHO WILL JOIN PAULR AND ME ON THIS
[/color]I will try to assist but I am at work...
Please keep keep a note of all of the negative feedback you get from others while promoting UTC. If we can gain some insight as to the FUD people are spreading and the general reasons that people have for being hesitant to invest, we can bring those thoughts back here and develop answers and solutions. Sometimes when promoting, you will get some negative feedback that you do not have a quick response or argument on hand to retort. The community can assist with this and we will be better prepared in the future.
A recent example: Someone stated in the trollbox, "I like UTC but the block times are too fast and cause too many orphans."
How would you all respond to this statement?
Don't you kind of find a coordinated effort to raise the price in the short-term and then manipulating the price on other exchanges by pretending that coordinated attempt is more than just an unsustainable pump a bit shady? You can't build long-term value that way and all it does is alienate the people that bought in during your falsely create euphoria. And why do you want to create this short-term value if not just to sell it off while it's high. Price fluxuations without the proposition of value exists purely for those that want to play the day trading game.
If that's where you guys want to go with this coin fine, there are plenty of them out there like that right now that do just fine. The only discussion in those forums is about price as that's all that anyone cares about -- that and volume. At the end of the day, they will all be dumped as the new high volume coin that is being pumped takes over. Lasting value will be dependent upon the utility of any given coin. The alt-coin craze won't last forever. Either position yourself as something useful and hope for the best or play the pump and dump game and hope others want to play with your coin when they join in. But it's hard to be both.
The changes that have been made recently seem to be trying to tackle both fronts and all you are effectively doing is making the bagholders more entrenched and scaring others away.
The block reward change doesn't address your dumping issue, it only rewards those who were already invested in the coin. It's not the number of coins that are dumped that matter, it's the % of coins being minted each day that are dumped that matters. The fair way to do things would have been to extend the distribution period so that there were going to be more UTC created and change the halving date to years later. That way, the % of coins created in a given time frame would be the same, but new investors / miners would not be at the mercy of the rest of you, that now collectively hold 15% of all coins to ever be put in circulation.
The price may go up to reflect the reduced amount of coins being mined, but if it doesn't, then your miners will disappear. If it does go up, you still haven't addressed the fact that miners will be miners and will dump it to trade for BTC at a rate faster than what you are adding new supporters, who are now alienated by the fact that 15,000,000 coins are being held that were obtained at a significantly higher block reward or through the IPO. The point of this is, changing the block reward to a lower rate does not affect any of the problems that the coin is having right now, it just rewards people already involved.
I already voiced my concerns as to how the multipool may effect the security of the coin earlier, but no one responded to any of my questions, so I assume no one shares the same sentiment.
Some of you have put a lot of work into trying to add value and direction to this coin. The focus on price distracts from that and honestly, you have no control over it without having some major whales backing you at this point. Even then, it won't be enough to sustain it. Keep you focus on implemented unique things like the arbitrage tool and quit scheming to raise the price.
You make some good points. I have never been overly comfortable about the idea of quickly pumping and dumping UTC. For me, this just means pumping and watching the price fall. Since I am not selling that is kind of stupid for me to do because I am buying too high. However, there are two positive aspects from the OP that I do support. The first being spreading knowledge that UTC even exists. I want people to learn about UTC. If people are going to get on the exchanges and promote -good for them, and good for us, and most importantly, good for UTC. Second, a bit of price fluctuation is beneficial because a coin that doesn't move, or consistently drops like UTC was doing, is bad. No matter how you spin it, it is bad. UTC would eventually be a distant memory in that case. Activity behind the curtain on the developer side of the house is more important. I entirely agree with you. But, I also believe that activity on the exchanges can be beneficial. My discomfort comes from words such as "spam", "pump", etc. There is a fine line here between what is beneficial and what is very dangerous as you described.
As for the block reward adjustment, well, its in the past. Probably time to move on. Hopefully it does not plague us.
I could see how an undisclosed amount of people owning a 15% stake in the overall amount of coins is a topic. But let's get away from it. Anyone who was in UTC early paid much more than .05 USD per. I recently doubled my stake in UTC by buying at .0007. The difference in my investment amount compared to the first time was extreme. Anyone could buy up a ton of coins at the moment, and be sitting in a better position than whomever supposedly owns the 15% -and plenty more coins will be distributed.
Hopefully the multipool concerns will be addressed by someone with more insight on the topic.
I agree that the pumping and dumping is for other coins, not ultracoin. It happens without the trolling in the chat boxes enough already. I'm not accusing anyone in particular, but the same people that push these p&d's in the chat boxes are waiting with lots of coins ready to dump on those they've suckered into buying on false hype or over hype. They do this just to increase the number of coins in their possession or are looking to leave the coin with as much btc as possible. I've been watching the exchanges a lot lately and if you look, even now with low volume, someone is putting a "large" sell order on the sell side and at the same time they fill up the buy side with little buy orders with a bigger buy order at a much lower price waiting to get dumped on by some frustrated miner.
The problem is being made worse by the multipool, unfortunately, because the multipool only buys from the sell side. This plays right into these traders (traitors) hands. They take the btc earned and place it right back on the buy side at a lower price. The only way to stop this is to slowly build larger buy orders on the buy side. When new buyers come to look at UTC, they look for support on the buy side. No support = No buy.
Patience is the key and providing true value to the coin like dcgirl and a few others do is the only way forward for ultracoin.
I've supported this coin from the beginning and will continue to support it and I hope the community stays together and works together to challenge the top 5 coins.
On a side note, Laterbreh has got the orphan problem over at ultra.leetpools.com down to an acceptable level and I could sure use some help mining there. The new website looks awesome! Let's try to spread the hash rate again.
