I'm totally confused. This is a new coin offering the same thing that Sum2 is supposed to be offering?

Well, if it's a scam to make btc off a huge ipo, why the fuck would they care about details like legalities?

I don't need to read this whole thread, this is an obvious scam from reading the ann post.
Look, if someone asks for money up front for something he promises to provide for the long term future it is a scam. Nobody works for free, even if you pay him a bunch of money up front.
The fact the "dev" won't do escrow for his ipo = biggest red flag you can get.

The agreement demands 1 uro = 1 ton of urea. If this isn't real the coin isn't real.

Why are you comparing huge companies that were bailed out by tax dollars with a crypto that isn't backed by anything? Of course litecoin can fail, just like GM and Fannie mae would have failed without government support.

WTF is going on with coins right now? in 2 days Maia, singularity and macd have all fallen like 1000%. If it weren't for Uro I'd have taken a hell of a bath this weekend.

100 million tons of urea are sold per year. Uro has 300k coins.
Just thought I'd repeat that in case someone missed it.

As far as the DRK comparison, Singularitycoin has 37k coins with a price of 20k sats. So freaking what? the only thing that gives coins value is the value this community places on them, nothing else matters.

I don't post bullshit. Do some fucking research before calling someone out. You do know the difference between pow and pos right? pow coins are meant to be mined for years.

- block rewards are 32 coins
- we are on block 1200 http://sing.v2.dedicatedpool.com/index.php?page=dashboard

There are about 37k coins that currently exist, multiply coins by current price - this coin's mkt cap is doing pull ups on a dime.

I also bought a bunch of macd which has gone to hell as well, 4m coins (pow ended) and price is 300 sats now. I don't know what the hell is going on but I'm not buying anything else for a bit.

What do you mean? if it proves to be legit there won't be any profit to be made as everyone will rush in. This is the time to work out whether it's legit or not.

What value does this coin offer exactly?

The total coins is 2.4, but this is a pow coin so the supply is 37k. This coin is seriously on life support, mkt cap is beyond puny. Net hash is 7 mh/s, which sucks for me cause I bought 150 at 100k. Oh well, made it back and then some on Uro.

Follow me here. Sellers of Urea are doing it to to make money. When someone pays them with a vapor asset that has no inherent value, they need to do what? cash it out, yes. Why? because they have costs associated with making urea. Labor costs, material costs, utility bills, taxes, etc etc etc.
So, when the price of Uro crashes on the exchange what do they do? hold it and hope the price goes back up so they can cash it out to pay all those bills? No, they need the money when the urea is sold because that's how business works.
Holy shit guys, the explanations I'm getting don't pass the laugh test.

Businesses that accept btc only do so because they can cash out immediately for the current value of whatever fiat they deal in. To think crypto could work any other way isn't using any logic at all.

I find major logic flaws here, and to be frank if this was for real the price would not be 1/60th of expected inside of a week, it would be much much higher. This coin reeks bad, sorry to say. If I miss out on the deal of a lifetime it won't be the first time, I sold thousands of XC bought at 4k sat at 20k sat, still not over that one. The good news is I'm sure there are plenty more big ones to come in crypto, ones that aren't so stinky. Do I wish I had bought Uro a week or more ago? oh, yeah.

So that's the answer then, holders of Uro have the power to crash the price of Urea.
First off, sellers of Urea don't pay the bills with crypto currency, they pay it with fiat. When the price of Uro crashes on the exchange, that means when they cash out they will get much less than the cost of production.
Secondly, a buyer of Urea could buy a whole bunch of Uro coin right now and get cheap urea, so why aren't they doing it?

I'm not fudding, I'm debating - these are some very basic and huge flaws in this concept, looking forward to reasonable answers.

Someone just explain this:

Let's assume 1 uro becomes worth 1 ton of Urea, $300. What happens when one of you bag holders decides to sell a couple thousand coins? you are telling me the price of Urea will crash just because a Uro holder cashed out?
I'm fighting common sense here, help me out.

Seriously, you sound like a brain washed zombie. Ever seen the Manchurian candidate?
replace:
"Raymond Shaw is the kindest, bravest, warmest, most wonderful human being I've ever known in my life."

with:
"1 Uro coin will soon reach the price of 1 ton Urea."

Tell you what, if this coin that can't even pass .008 that is supposed to be worth .5 within a week passes .01 I'll think about it.

I don't care what someone with a newbie account with a few posts, all from this thread, has to say.
I think it's preposterous to think that in a few days the price of 1 uro could be anywhere near $300, and that it would stabilize at this price.

Assuming it magically became $300/coin, what happens when people want to cash out to become milloinaires? how will the price stay around $300? why would a seller of urea accept a such a volatile currency, that was bought far cheaper than what his urea is worth? and if this was really for real, why on earth are so many coins being sold well below .001 lately?

Sorry, but this whole idea is absurd, anyone who actually believes in it needs a slap in the face or some ice water dumped on his head, maybe both.

His dog and goldfish maybe? hope not

4.2m coins past pow stage at 400ish sats, this coin is unbelievably cheap.

Rented some miners yesterday, net hash isn't high yet so good coin returns. This one is completely under the radar atm like Razor was the first few days, hopefully we will get some details soon from dev.