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The biggest problem with URO is that it's basically handing all the block rewards over to a couple of anonymous miners with between 500 and 1000 graphics cards each. I was running about 10 Mhash (4 7970's) overnight on p2pool, which has a pool rate of 80 Mhash, and not a single block has been found. This seems like exactly the same thing as what I'd seen going on with Catcoin (and probably most other smaller altcoins).
These anonymous miners are completely destroying the market value of URO because us farmers who **actually buy Urea** do not have a clue who they are. I have absolutely zero confidence in a blockchain that costs something like 5 or 10% of the value of Urea being traded when that cost goes to undisclosed mining farms that 95% attack the network whenever the price starts going towards $1.
But it is, however a very interesting toy that right now I might speculate on with a reasonable price of say $0.50 each. If the Uro foundation wants to pay miners too much, that's fine with me, but before this is going to be a serious asset-backed currency, the centralized fertilizer production backers of this coin have some explaining to do on why they think centralized mining is a good idea, and how they are going to insure farmers if a big miner halts trading or double-spends. I have not seen evidence the backers of this coin actually understand how much the mining overhead is going to cost them right now.
If the foundation and the fertilizer manufacturers actually want a distributed mining capacity, I have some software changes we can try, but if I'm going to fix someone's software and they are going to profit from it, I expect to get paid a retainer, by physical delivery of Urea first.
any market value for URO will not depend on miners, it will depend on the urea distribution for URO.
it's obvious that for a mined coin that will be tied to urea, the miners are not the end users of the coin. they will sell their mined coins to people who will trade that coin for urea. (unless there is a farmer co-op owned mining factory lol)..
AND should this all happen as suggested by the protocol, the whole economy of URO will see a dramatic shift. no doubt influencing all the other coins available now as well.
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