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China has magnitudes more volume than any US exchange. 20-40m compared to 2-4b, it's not even close. It's there, "ATH" is purely a formality at this stage, but may form barriers to price.
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From your post, it's obvious you are concerned about miners' dump and how do we sustain the price.
Well first of all, I believe that there are about 400k CANN mined per day, BUT only until Mid September 2014, whereby the mining reward will be reduced to 52.5 instead of the current 210, so about 100k CANN will be mined then, till 450 Million CANN and this will take approximately 8.5 years!!!... However, if you look at the daily volume recently, you don't see 400k volume per day other than the occasional 1 day volume spike probably caused by some whales that have just entered Cannabiscoin or may be looking to accumulate more of these cheap CANN!
So what does this tell you?
It simply says that NOT all CANN mined per day will be dumped. Yes, miners have bills to pay (e.g. electricity, hardware, etc), BUT some miners are speculative miners. They are mining CANN as an investment for mid to long term.
Speculative miners will not instant dump whatever they mined, they will HOLD! Yes, there are smarter miners these days unlike in the early days of BTC, besides Satoshi, most would just instant dump.
So why are some miners not instant dumping?
Easy answer! CannabisCoin is way undervalued, and I mean way way way way way x100 undervalued.
Why? Imagine the peg being announced as 10 Cann per Gram for being conservative in my example below, although I strongly feel 1 CANN per Gram is still the way to go and my hunch says dev will announce peg as 1 CANN per Gram.
Anyway, let's go with 10 CANN per Gram:
Assuming 1 gram of Medical Cannabis costs on average US$17 (This number is provided by CANN Dev), then @ 10 CANN per Gram, each CANN is roughly worth US$1.70
@$1.70, it is about 340,000 Satoshi vs current price of about 1,000 Satoshi (Hint: Potential 100x here, can't you see?)
@$1.00, it is about 200,000 Satoshi
@$0.10, it is about 20,000 Satoshi (Still decent 10x, if you managed to buy CANN below 2000 Satoshi)
So as you can see from above, the risk to reward is too good for speculative miners to simply instant dump CANN, not until CANN reaches close to parity which wouldn't happen overnight any way.
Therefore, by pegging @ 1 CANN per Gram, the Reward to HOLD since @ parity, 1 CANN is potentially worth US$17... I say, you won't have to worry about miners dump too much!
Tick-tock Tick-tock... Time is running out for cheap CANN!!! Remember ON or BEFORE 1st Sept 2014, the pegging announcement will be made.
Don't do last minute shopping please! This isn't X'mas shopping whereby retailers will drop price the day before X'mas!
Assuming the price of 1cann peg, and a price of say $8, which would be roughly half fiat value, even 100k new CANN a day is still $800,000 worth of sell pressure. At this point miners will want to cash in, as if it is close to the pegged value, why continue to hold? It would need many new dollars coming in for actual utility of the coin, and while at some point with enough adoption $800,000 worth of sales per day may be achieved, I highly doubt these strains will muster 800k a day worth. Bear in mind this is $800k buy volume, not just trading volume. Even big companies don't muster that much in BTC sales per day. Or 100kg a day in terms of actual utility vs 10kg... At 10cann, its more likely $80,000-$100,000. With good merchant adoption across several stores these are more achievable figures. I understand where you are coming from, but I do think that putting it at 1cann is unsustainable in the current market. The best peg value is determinant of the sales volume of the merchants that are on board |
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I have thought about this quite a lot, I still think 10 CANN/g is the best peg in the current crypto economy. 1 CANN I think will be too ambitious, it won't be able to hit nor sustain parity and all the scam accusations will come flying.
10 CANN/g put the current coin count under $100m market cap, which can be sustainable. The simple fact is the crypto sphere is not large enough yet, let alone the altcoin sphere, let alone the altcoin sphere interested in Cannabis to sustain anything over $100M cap due to miner dumps. Logic would dictate that if it was "valued" at ~$15 per cann people wouldn't sell for much less, miners will. There needs to be enough people buying PER DAY to counteract miners and traders selling for a profit, and there isn't enough money in altcoins to do so. The ambitious nature of 1 CANN/g might bring more customers in obviously, I still don't think it will be enough.
For those wanting a profit from holding, 10 CANN/g is still 100x roughly from here, and about 5000x from the starting price.
Voting for 10 CANN/g, just saying
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Of course 1CANN/gram is the optimal choice, however I don't know how achievable and sustainable that will be. I personally think 10CANN/gram is the better choice and more sustainable in the long run.
Even if the economics are sound, you've gotta fight the idiots and the traders to keep the price there, and that's a hell of a lot harder @ 1 CANN than it is 10 CANN.
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Hey guys, just a reminder that voting is open till 8pm GMT for the new logo which can be found at https://www.surveymonkey.com/s/S3SKL6LGood opportunity to have your input on the future of URO |
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Left image exhibits wide angle distortion also. This is next level confirmation bias.
Its really funny if you think you caused it haha... Ohh dear. This whole steadfast "down = fud" biz is tiresome to say the least
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Am I reading this right? Truthful, scambust and co are honestly saying this is more likely to be a scam because Australians aren't to be trusted because of convicts in the 1700's? Is that seriously what this has degraded to?
Posting links to ACCC stories about other totally unrelated scams is just a whole new level of pathetic. The ACCC is just a government body, that's like posting articles about the equivalent US government body saying that those in the US aren't to be trusted because scams happen there.
I think that condemning this project without due evidence is foolhardy; as is blindly drinking the KoolAid and thinking it's completely legitimate without doing the research and checking the facts. It's vital to go over something as potentially groundbreaking as this with a fine-toothed comb, but at this point you have just degraded to the level of being professional trolls. I will gladly listen to objective concerns and reply with my thoughts, but these attacks have stooped to a new low.
If you are trying to "save people" or start a reputation for such things, you have just failed, and embarrassed yourselves greatly.
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If you had answers wouldn't be a problem would it??
This is precisely my point. I've been in URO since early June, I've seen all the doubt and concerns you have, and they've been answered. If you don't want to take the time to research yourself, we can't force you to. Nothing you have asked or said so far hasn't been brought up at some stage. People aren't answering because this thread isn't Groundhog Day. Most people are aware they could lose their money in crypto. You aren't doing a public service. No one is 100% sure of this yet, or obviously the price would be $300 already. I've personally spent roughly 60 hours+ researching this so far, and I would have no problems investing now had I not put in at 35k already. |
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Truthful: you're meeting hostility because a lot of the questions you are asking are either irrelevant to URO and its legitimacy (such as the surveillance business; this has been addressed, but diversification does not prove this to be illegitimate), and also because the questions have been addressed several times within the thread.
You are most welcome to ask questions but I ask you please be courteous enough to at least read a good portion of the thread given most questions are answered already.
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Just read the thread, most of these qu's ate already answered. Some of us have done the research and just waiting for the last few details to confirm.
Also, urea is not piss. L2read
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where are pools  now 7GH/S Uro.suprnova.cc are quite good, I've been there for a few weeks and it's pretty seamless |
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Uro is my next target. In 5 days ill be dropping the coin from 0.0022XXXXXX to about 0.00001XXXXX
May i ask what threats you talk of?
Pretty clear threat. It's cute. I personally would appreciate if someone dumped the price down, if you're going to do it; go ahead and do it right now. But given the coins price is not currently 0.0022, and BTC is divisble to 8 decimal places and you list 10, you must clearly be a professional troll. I suggest you move on  |
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I got into crypto 6 or 7 years ago, i was on the board for Litecoin and mazacoin, Each week i start a new bitcointalk account to remain anonymous. all ive been doing since i started is pumping and dumping coins. Uro is my next target. In 5 days ill be dropping the coin from 0.0022XXXXXX to about 0.00001XXXXX.. When it reaches this level ill then start my pumps, I Will not wait for anyone, you're either in or out. Dump your coins now and wait for the dump on wednesday. Buy back in just before the numbers stated and receive pure profit. or keep your coins and bag hold until my pump. your coins, your choice. get out while the price is still high.
Lol what's next, a fluttercoin pump maybe? Never really dove into fluttercoin, it looks pretty shit, only good thing is the multipool. anyway it was easy enough to pump to 580 and sell, thanks for the tip. might keep going if you wanna jump on. but im out and have stopped pumping. Textbook pre-ann pump, isn't over yet. 30-40% profit on 4-5BTC volume, you must be such a big whale! Your threats are oh so adorable |
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I got into crypto 6 or 7 years ago, i was on the board for Litecoin and mazacoin, Each week i start a new bitcointalk account to remain anonymous. all ive been doing since i started is pumping and dumping coins. Uro is my next target. In 5 days ill be dropping the coin from 0.0022XXXXXX to about 0.00001XXXXX.. When it reaches this level ill then start my pumps, I Will not wait for anyone, you're either in or out. Dump your coins now and wait for the dump on wednesday. Buy back in just before the numbers stated and receive pure profit. or keep your coins and bag hold until my pump. your coins, your choice. get out while the price is still high.
Lol what's next, a fluttercoin pump maybe? |
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The fact is, that the blockchains use as a true universal decentralised ledger as a means of asset exchange will bring more value to cryptocurrency than anything else. The ability to have an unforgeable, easily transferred certificate/token is priceless.
Some have theorised that using a blockchains ledger as a means of asset exchange means that the blockchains market cap will have to remain higher than the value of all assets flowing through it at any given time.
If this works, and sets off new innovation and reactions from the right folk, we are seeing steps towards a decentralised stock exchange, housing market etc within the current landscape.
We love our BTC and crypto, but introducing asset exchange or a true backing would be an event that could move USD value of BTC to 10k and beyond with ease, along with BTC becoming a true commodity, and not having to feel like a total neckbeard when you bring it up at a social gathering
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I had feelings LTC would take off in October. I had feelings DRK would take off in March. They went much further than anticipated. I got heckled then too.
I have the same feeling about URO. Unfortunate that people are writing this off so quickly, this should be getting oodles of attention, so far just accusations and terrible piss jokes (urea isn't urine?).
I'm willing to have egg on my face if this is dishonest or goes bellyup, but this has the potential to be the biggest thing in crypto yet, and it will make DarkSend and all of this weak innovation/anon coins have spawned seem like a kids' science fair.
#timestamped
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all in best coin
How many coins so far and How many total coins? So far roughly 150,000 coins |
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The point is not to know if OP can be a horse behind a computer or not.
I want to understand the idea behind the project.
I don't see how the project is helping the farmers using urea.
Cryptocurency lead to massive pump and dump. How can we expect people to rely on it ?
What if millions of people lose all their wealth and are forced to starvation because of a dump from a nerd with a massive GPU farm ?
This is a caricature but do someone see the point ?
Uro's utility to a farmer is not affected by the behaviour of traders on the exchanges: A farmer that holds Uro will get his/her Urea when he/she needs it - without having to worry about Urea or Uro price changes - because the Uro Protocol legally binds the NIERs to this commitment for the next ten years - with more NIERs joining the Foundation in the coming months. This commitment is just the beginning - because it currently only caters for whole ship orders of 12,500 MT - we are in ground-breaking discussions with Urea wholesalers right now to facilitate smaller orders. We invision that one day, 1 MT Urea purchases will be possible with Uro. All of this is possible because of the Uro Protocol backing Uro to 1 MT of Urea. Its unique, its different - its not a backing to USD, its not a backing to any fiat currency or even any cryptocurrency. Uro is a different animal all together - a currency backed to a manufactured commodity - a commodity that is crucial to the upkeeping of civilization. All that have ever been released upon this community in the past has been concentrated on getting a high BTC exchange rate, but BTC itself is volatile - and so is any other currency including fiat. Uro is the fresh approach - a backing to the real needs of the human race - the need to grow food. Think about this - if a war breaks out and your life is in danger - what is a bank note? what is even a gold bar? The only thing that matters is safety and sustenance. Food and whatever is required to produce it are the only constants - the only things that are universally valued in the same way by every person on earth - if fact - they are the only things universally valued by all life everywhere. It does not matter if its a plant, an animal, a human or an alien - all have to eat. You had my curiosity, but now you have my attention. I personally do hold URO, 'cos why not, but I am far more interested in the concept that URO brings to the table than profit potential. I'm trying to get people to talk and become involved, not to buy, but to just find out more. I am still highly skeptical, as are most of the community (based on a few reservations), but I'm so, so genuinely curious about this whole thing. People keep herp-derping about "wall street" being the big money, which no doubt it will, that comes into Crypto in 2014 but asset/commodity based crypto exchange is what I envisioned (originally with coloured coins, but this is a slightly different concept is nonetheless just as groundbreaking) as the next big step and I feel like if this is legitimate that it is indeed the next step for 2014. And rest assured if this is real and it works it WILL change crypto forever, and big business will get involved. For all that is good in the world, don't be another scam. I'll give you credit if it is, because it's waaay more creative and inctricate than typical premine scams. I have two main concerns and questions; given you seem to be an active dev, I hope you can answer them for me. 1. a) WHY is listing URO on a public exchange (Trex) even necessary, what part of the business plan involves us? Why does it need to be publically distributed first. It seems like an unnecessary step. b) And is there anything that exempts NIER board members/farmers from loading up on this undervalued URO and getting heavily discounted urea? If not, why are they not flooding bittrex for cheap urea? 2. Will we see a richlist or top holders or URO, or does one exist already? |
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Guys more votes are needed on the interview poll. Stan from CoinDesk is monitoring this thread. I can see an interview offer being made soon if we can get that vote count high enough. Spread the interest in Uro people - get those votes in.
We all want these interviews so lets work together to get them! We need to give Stan some ammunition he can take to the editor to make a case for us!
Same goes for those that want the interviews on The Keiser Report or others - express your opinion and get those votes in - don't just sit there!
Will be great to see if this follows through. People have poo-pooed and naysayed, even people can't make $300 per URO they now hold, if this project is honest it will change things in a pretty huge way. I personally think Keiser Report being a video format will gain more trust but CoinDesk probably has a further reach within the community. Why not both? |
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PoW should drop the price due to miner dumps, no?
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