any chance this will be on another exchange soon? like... today?
Not today, but very soon. |
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Problem i see mate is not with your intent but with your vehicle. For this to work as you say then your Ʉ range of coins have to be highly successful to then be even remotely close to being able to have enough power to audit exchanges and force a standard.
I personally have mulled over at least 200 ideas on how to achieve this and i don't see how its possible with a clone of a coin dressed up to do what you say it should do because you are saying it should or thats what your re focused on
Mitigating risk i get that but then what? what happens when it has no relevance because a more focused solution is implemented by community consensus and that is where my concern is an critique comes from
we are going to need blockchains for just about everything but coins..not so much the world hardly understands the difference between cash and card let alone the nearly 500 coins to date
The problem is people are only interested in alts right now for profit. Mining profit, trade profit, and future profit. Its about having a unique idea at the time that serves only speculative markets.
The Ʉ is just meant to be short term but the block chain lasts for ever. I don't see these coins going anywhere. We learn't our lesson with the Dotcom bubble and its proving we have to go through it all again before we all feel yet another wave of pain and name this the altcoin epidemic. we don't need more coins we don't need a coin for lunch and one for dinner and one for Starbucks and one for McDonalds we just need aps built on the blockchains that drastically reduce overheads and eliviate people from doing shitty mundane jobs to doing stuff they really aspire to.
I don't hate you i just don't think it was very well surveyed. And the fact is it is a waste of mining time and server space in my eyes and that is my opinion but am i alone?
Have you approached any of the foundations/devs of the coins you chose and proposed to merge mine directly off their chains because if you had of pitched it we would not be sitting in this thread talking about this here right now with 20 pages and no community desire to support it!
"Problem i see mate is not with your intent but with your vehicle. For this to work as you say then your Ʉ range of coins have to be highly successful to then be even remotely close to being able to have enough power to audit exchanges and force a standard." Intent to better this community is our vehicle. I agree, for this to work we need a highly liquid, highly successful coin. As far as auditing or working with exchanges, we are already doing this. 6 days old, this no name coin is already setting the stage, changing the rules. We don't vote to get on an exchange, we don't pay them because this all feeds to the cycle of shitcoins. "I personally have mulled over at least 200 ideas on how to achieve this and i don't see how its possible with a clone of a coin dressed up to do what you say it should do because you are saying it should or thats what your re focused on"Since you were unable to figure it out then I guess it can't be done. "Have you approached any of the foundations/devs of the coins you chose and proposed to merge mine directly off their chains because if you had of pitched it we would not be sitting in this thread talking about this here right now with 20 pages and no community desire to support it!"Yes, I have approached the devs/foundation before launching. I will paste the message below. I got no response. Did this deter us? NO. Is your self-righteous posts going to deter us? NO. Hello Coblee, Just wanted to stop in and say hello. I am the developer of Umbrella Crypto’s. Not sure if you had a chance to see our Ann thread yet on the bitcointalk forums. We are an insured cryptocurrency with the sole purpose of bringing transparency to the exchanges, and a safeguard to the miners. We are not insurance in the traditional sense, but one where the average miner can create a hedge to protect against losses and also get reimbursed should their Umbrella crypto’s get lost or stolen. We are looking to become your de facto auxiliary chain coin. Hopefully we can attract some new miners to your coin, and in the process help strengthen both blockchains through merged mining. We understand some coins are already being merge-mined with you. To our knowledge these coins offer nothing unique and just add to the clutter. We think our coin has a great practical application that is needed in this unregulated market, and the promotion of it can be a way to get miners excited again. We will definitely be promoting the Litecoin/Umbrella-LTC combo. If you have any questions feel free to reach out to us. Thank you, Robert Murray Umbrella Dev rmurray@umbrella.holdingsUmbrella Thread: https://bitcointalk.org/index.php?topic=687265.0Umbrella-LTC Thread: https://bitcointalk.org/index.php?topic=707603.0 |
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I don't understand why there isn't a ɄXPM proposed..its like you guys are all from x11 times completely forgetting about the Primecoin chain is just amateur at best. but i'm glad you haven't tried because imo this concept is pointless.
When you can just fix and force stricter policy on the exchange issues from the root and not offer things for the "in case an exchange takes all of your funds" because thats just bloody useless and is why there is little support for this concept.
It does not fix or solve anything. It just offers yet another security blanket for people. It will never be used nor should it even be considered. The problem is with trust and this concept does nothing to serve the real problems but only offers a safety net no one needs nor should want. (when you have a safety net no one can be bothered to fix the real issue!)
This coin will never be used as a financial instrument or crypto security, we learnt our lesson with cryptobullion and i guess you will also learn..eventually!
because it seems like you didn't do your homework..none of you!
Call it apathy but by the time Bitcoin is mainstream we wont be having such issues as we have had because we have learn't from them(You do not learn form things by setting up safety nets to catch incompetents). When crypto is mainstream it wont need saftey nets like this and anyone thinking it should have one needs to find out if they should be re-reading the whitepaper on bitcoin and or finding a better source of information regarding the real ideology that is Bitcoin and its related spinoffs
Goodluck to you but i see it as perfect tallent, resource and mining equipment/serverspace wasted
"When you can just fix and force stricter policy on the exchange issues" How do you propose we do this? What is your grand solution for this problem that no one as been able to solve? Half of the exchanges don't even have contact information. We are much more than a safety net. In order to reduce our risk (and yours) we audit the exchanges, perform pentests and eventually get proof of liabilities software installed at the exchange level. We are already working with two. We have reached out to over 30, what does that tell you? This is no easy task but we are here to serve on multiple fronts because we believe we can make a difference. "Call it apathy but by the time Bitcoin is mainstream we wont be having such issues as we have had because we have learn't from them"The problem with this statement is Bitcoin is not mainstream, not even close. Until that day comes, we will find ways to mitigate risk. At least those of us that want to survive will. Does this include Umbrella Crypto's? Maybe, maybe not. |
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hi,
i didnt understand, i mine at give-me-coins.com
it says merged mining, do i loose hash of my miner, it says no.but how thats possible mining ltc and umbrella at same time? normally i should split into 2 the hashpower.
and can i mine umbrella just in a pool, without merge mining?
This is a nice writeup. http://bitcoin.stackexchange.com/questions/273/how-does-merged-mining-worktnx for answer, but is it possible to just mine umbreallacoin in a pool? only umbrellacoin and what i didnt understand because of less technical knowledge, is it same like i mine with 25mhs ltc, 25 mhs umbrella coin, 25mhs pesetacoin AT SAME TIME ALL, with no hashloss? i have a 25 mhs asic miner so i ask this example Yes, it is possible to only Umbrella-LTC. See some of the pools on our first page. i am already at give-me-coins.com , that was is listed on your main page. i already mine umbrella ltc.but is there something like only umreblla coin? or do i mine ltc in reallity and they give me umbrella coins? i wanna just mine umbrella coin, i tried all pools ,only give-me-coins.com is working,all others seems not working tnx for link,but would be nice if you or someone could answer my questions,in a simple language,since i dont understand much technicaly. https://www.minep.it/pool/ULTC/tnx for link,but would be nice if you or someone could answer my questions,in a simple language,since i dont understand much technicaly. As far as give-me-coins, to my knowledge no. You mine LTC but also get Umbrella-LTC. Same hash for both coins. You can also mine at one of the pools I linked. At that pool you can mine only Umbrella-LTC. |
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hi,
i didnt understand, i mine at give-me-coins.com
it says merged mining, do i loose hash of my miner, it says no.but how thats possible mining ltc and umbrella at same time? normally i should split into 2 the hashpower.
and can i mine umbrella just in a pool, without merge mining?
This is a nice writeup. http://bitcoin.stackexchange.com/questions/273/how-does-merged-mining-worktnx for answer, but is it possible to just mine umbreallacoin in a pool? only umbrellacoin and what i didnt understand because of less technical knowledge, is it same like i mine with 25mhs ltc, 25 mhs umbrella coin, 25mhs pesetacoin AT SAME TIME ALL, with no hashloss? i have a 25 mhs asic miner so i ask this example Yes, it is possible to only Umbrella-LTC. See some of the pools on our first page. i am already at give-me-coins.com , that was is listed on your main page. i already mine umbrella ltc.but is there something like only umreblla coin? or do i mine ltc in reallity and they give me umbrella coins? i wanna just mine umbrella coin, i tried all pools ,only give-me-coins.com is working,all others seems not working |
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hi,
i didnt understand, i mine at give-me-coins.com
it says merged mining, do i loose hash of my miner, it says no.but how thats possible mining ltc and umbrella at same time? normally i should split into 2 the hashpower.
and can i mine umbrella just in a pool, without merge mining?
This is a nice writeup. http://bitcoin.stackexchange.com/questions/273/how-does-merged-mining-worktnx for answer, but is it possible to just mine umbreallacoin in a pool? only umbrellacoin and what i didnt understand because of less technical knowledge, is it same like i mine with 25mhs ltc, 25 mhs umbrella coin, 25mhs pesetacoin AT SAME TIME ALL, with no hashloss? i have a 25 mhs asic miner so i ask this example Yes, it is possible to only Umbrella-LTC. See some of the pools on our first page. |
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hi,
i didnt understand, i mine at give-me-coins.com
it says merged mining, do i loose hash of my miner, it says no.but how thats possible mining ltc and umbrella at same time? normally i should split into 2 the hashpower.
and can i mine umbrella just in a pool, without merge mining?
This is a nice writeup. http://bitcoin.stackexchange.com/questions/273/how-does-merged-mining-work |
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1) Merged mining: Is it really the same like mining Litecoin and Umbrella LTC with full hash rate separately? Why is not everybode merge mining if that's the case? 2) I might consider myself as Crypto-Newbie and have talked a lot with "non-tech" people about Cryptocurrencies. They don't get the revolutionary point and they don't care about the fascinating technology behind. All they ask is, why they should use them instead of credit cards etc. and where they can pay. I think Umbrella coins could be the bridge to mainstream adoption! Think of PayPal - I really disregard them as seller, but from a buyer's perspective they are great. They offer security - or at least the feeling of security. This makes them successful despite enormous fees for the seller. If you can setup a similiar payment processor which is easy to use, has low fees, fairer dispute resolution and the backup of "umbrella insurance" it may be a huge success. I love the idea of secure exchanges. Also easy usability - I had smartphones long before the iPhone came out and nobody understood my need or fascination for them - think how Apple changed the market after that. Cryptonerds might not like this kind of "institutional backup", but people generally trust institutions more then technical elegant "trustless" solutions - so yes, go for it - build the bridge for mainstream adoption  To keep this thread on track and free from clutter, as I have mentioned earlier I will remove baseless accusations of scams. If there is evidence to support your claim, then present it for all to see. If not, it's just FUD. To respond to werwohl, Our idea behind adopting the auxialry chain role was to break into the market easily. Like you said, people who are already mining Litecoin, why wouldn't you also mine some uLTC? We will see how this pans out. We see other coins who are merged mining gaining large hash (1 is at roughly 1/4 of Litecoins total hash). I assume this takes some time. Again, we are only 5 days old. I agree with what you say about people trusting a third party institution. These are the same people who claim centralization is pure evil, but yet they trade and conduct business on centralized exchanges? What's the logic in that? If the consensus is that this third-party is deemed untrustworthy, what is everyone's thoughts on bringing that portion back in-house, and creating a foundation to fulfill the duties of claims and investigations? This would be a good use-case for a foundation with real purpose. Not marketing or forming one because Bitcoin has one. This group would do real work that would benefit the community over time. It can be structured fairly with 5, 7 or 9 members voted-in. We can setup a multisig wallet that house the insurance funds? Would this be more accepted by the community? How would these members be compensated for their work? How would we find them? These are some questions to think about. I am open for discussion on any matter or concern as it pertains to these coins. --Robert |
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The coin has only been out for 4 days. I think everyone needs to just take a step back and look at the idea behind the coin. Yes, pools will dump just like every other coin. This lowers the price but there is some benefit to a more liquid market. We just need to spread awareness about what the coin can do. Keep shooting for other exchanges where we can gain some exposure and traction. Atomic is great, but the overall volume is under 2 BTC per day. Lets keep pushing forward, this coin can do great things given the right environment. Once people realize the value of an insured crypto, buyers will come. I am not worried about it and neither should any of you.
i think its funny that bittrex will add any shitcoin out there yet a coin like this which has been handled quite professionally doesnt even get a look in.all those scam coins getting listed in the first 24 hours of their release.really says alot about bittrex and how greedy they are Agreed. The problem we are going to face is acceptance. We want to work with the exchange and bring some transparency to their work. Some exchanges welcome this, others who are part of a conglomerate will not want this. This is part of our mission, to expose shady exchanges for what they really are. This is why we don't accept voting our way onto an exchange. It feeds the cycle. The truth is they wouldn't be in business if they didn't have the user base. As much as people bitch and complain about shitcoins, they really want them. Agent Smith said it best " But I believe that as a species, human beings define their reality through misery and suffering." That prospect of getting in on an early pump, the untold riches...! We will never rid the system of this type of behavior, the best we can do is spread awareness. Is there a reason why you are spamming other coin's thread's with your announcements? "the first insured crypto" Not sure, we'll take care of it. Thanks |
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The coin has only been out for 4 days. I think everyone needs to just take a step back and look at the idea behind the coin. Yes, pools will dump just like every other coin. This lowers the price but there is some benefit to a more liquid market. We just need to spread awareness about what the coin can do. Keep shooting for other exchanges where we can gain some exposure and traction. Atomic is great, but the overall volume is under 2 BTC per day. Lets keep pushing forward, this coin can do great things given the right environment. Once people realize the value of an insured crypto, buyers will come. I am not worried about it and neither should any of you.
i think its funny that bittrex will add any shitcoin out there yet a coin like this which has been handled quite professionally doesnt even get a look in.all those scam coins getting listed in the first 24 hours of their release.really says alot about bittrex and how greedy they are Agreed. The problem we are going to face is acceptance. We want to work with the exchange and bring some transparency to their work. Some exchanges welcome this, others who are part of a conglomerate will not want this. This is part of our mission, to expose shady exchanges for what they really are. This is why we don't accept voting our way onto an exchange. It feeds the cycle. The truth is they wouldn't be in business if they didn't have the user base. As much as people bitch and complain about shitcoins, they really want them. Agent Smith said it best " But I believe that as a species, human beings define their reality through misery and suffering." That prospect of getting in on an early pump, the untold riches...! We will never rid the system of this type of behavior, the best we can do is spread awareness. |
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The coin has only been out for 4 days. I think everyone needs to just take a step back and look at the idea behind the coin. Yes, pools will dump just like every other coin. This lowers the price but there is some benefit to a more liquid market. We just need to spread awareness about what the coin can do. Keep shooting for other exchanges where we can gain some exposure and traction. Atomic is great, but the overall volume is under 2 BTC per day. Lets keep pushing forward, this coin can do great things given the right environment. Once people realize the value of an insured crypto, buyers will come. I am not worried about it and neither should any of you.
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When sha256?pool will be out?
Thank you for your interest. We are looking at roughly 2 weeks. We have identified some small bugs that need to be fixed and want to make sure UBTC launches even better than ULTC did. If anyone has ideas to improve the launch, it's up for discussion. I will be making the official UBTC thread within a week. I'll post the link here. |
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Looking to build the team up. We can accomplish much more as a unit.
- Developer
- Social Media using Twitter/FB and tools like Snip.ly etc.
- Someone active on the Umbrella forums/Q&A/Reddit
We can talk about compensation. PM me!
--Robert
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I'd like to say a thank you for the dev for so much for all the rapid work being done, this is true innovation right before our eyes. Thanks! Looking to build the team up. We can accomplish much more as a unit. - Developer - Social Media using Twitter/FB and tools like Snip.ly etc. - Someone active on the Umbrella forums/Q&A/Reddit We can talk about compensation. PM me! --Robert |
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We have our first exchange online, no voting or buying our way in just like we said. Look for Umbrella funds to be insured in a week or two once we finish our pentests. Byron has been awesome to work with. More insured exchanges to come. Don't forget to tweet them you want #umbrellacryptos ULTC Live You should come down and have a beer on the beach with me some day!!! You from LA? |
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We have our first exchange online, no voting or buying our way in just like we said. Look for Umbrella funds to be insured in a week or two once we finish our pentests. Byron has been awesome to work with. More insured exchanges to come. Don't forget to tweet them you want #umbrellacryptos ULTC Live |
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We have our first exchange online, no voting or buying our way in just like we said. Look for Umbrella funds to be insured in a week or two once we finish our pentests. Byron has been awesome to work with. More insured exchanges to come. Don't forget to tweet them you want #umbrellacryptos ULTC Live |
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We have our first exchange online, no voting or buying our way in just like we said. Look for Umbrella funds to be insured in a week or two once we finish our pentests. Byron has been awesome to work with. More insured exchanges to come. Don't forget to tweet them you want #umbrellacryptos ULTC Live |
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