It also works the other way around, you can bet the price will fall. Like a short sale on stocks.
Which is why URO could radically change the crypto landscape. Imagine big boy Bitcoin traders hedging in URO in case Bitcoin falls, and when BTC rises they sell their URO for Bitcoin. This is how you build a functioning crypto economy. |
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It's funny how the crypto community is now becoming as skeptical of new market ideas and tech as the mainstream world is of Bitcoin.
Indeed, it is  But then most of the crypto community would not have believed in bitcoin 3 years ago either. They only believe when it has become mainstream. The thing is anyone who has read any serious financial publications, i.e Wallstreet Journal, Forbes, etc., not the rantings of a few teenagers on bitcointalk, know that Blockchain 2.0 technology and the application of it towards new methods of information and wealth transfer is the next direction for crypto. I can't think of a "better" way to start the process of backing a commodity on a crypto coin, if GES had 100% premined and IPO'ed it at 1:1 Urea prices, no one would have bought it, end of story. If you are skeptical of URO working then you should be skeptical of ALL future commodity coins. It's no skin on the back of these companies for a few people to make a fortune being early adopters, that goes for any company or technology. If it does turn out legit though you are running out of time to hope to make any money unless you are a millionaire whale daytrader. |
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This is possibly the dumbest thread I have ever read in my life. I literally can't even. People with valuable commodities are not going to give that value to you in exchange for made up internet currency just because you would like them to.
I mean yikes. I have no idea as to the authenticity of various "proof of backing" in this thread but assume it is low or meaningless. I feel like we are watching auroracoin v2. You guys are nuts.
About as dumb as people giving you actual products for Bitcoin which is nothing but 0's and 1's? It's funny how the crypto community is now becoming as skeptical of new market ideas and tech as the mainstream world is of Bitcoin. |
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I'm waiting to see 12,500URO change wallets and everyone and their mother panic buying lol.
-Pickle
Actually I never thought about that, that would be our semi-definitive proof, watching the blockchain! |
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people are requesting to be paid partially in bitcoin these days, its more of a why not. they could if they wanted to, whether it makes sense for them to want to....
Someone in IRC was saying they called one of the Indian companies that ratified the protocol and the guy on the phone was begging him to sell him his URO, even offering $40 a coin lol |
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They have nothing to do with URO the same way Pepsi has nothing to do with dollars. Their job is to simply accept 1 URO as payment for 1 ton of urea and that's it.
Exactly, it's like expecting the CEOs of Overstock or Newegg to come on here and pump Bitcoin just because they accepted it as a currency. |
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No, a pumper will start the buying, and lemmings will foment even further panic buying. The original pumper cashes out, and it's a race to dump while the original pumper takes the profits and begins the next pump for another profit sheering episode. Innovation and/or cause is irrelevant. No one is manipulating the price to pick up more.
This is why IE is scum. At least Fontas pumps coins that are obvious generic P&D's with no future value, but IE is selective about finding budding coins that could go places and then rapes them. |
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The thing is unlike all these other scam coins with anonymous devs hiding behind VPNs, Green Earth can be taken to court for accepting URO as payment and not providing Urea. I seriously doubt a company would risk being sued or even having execs go to jail over this when at the moment there is so little money at stake.
My company deals with Chinese manufacturing firms and there are plenty of con artists over there, but the difference is the con companies don't have a 10 year web presence or branch offices around the world and can usually only be found in temporary buildings so they can pick up and escape to start their fraud elsewhere. Green Earth is pretty rooted in their location.
Also their CEO's name and face isn't plastered all around the internet either.
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Mintpal is one of the best exchange,no need to spread fud.
It was few weeks ago, but it no longer is. Look at the recent addition. Mintpal used to equal prestige, but it no longer is. Any shitcoin can be there now. And few weeks ago being added to Mintpal meant something. It was proof of quality. And now? Instead of coins like VOOT and few others they are adding shitcoins. To me the sign Mintpal is dying or no longer relevant is when they added UROcoin and the market shrugged it off and continued volume trading on Bittrex. Also it didn't help that MP has now earned the reputation that when a coin gets added to Mintpal, it will 90% of the time end in a dump. If you're the average person, why would you want to keep trading on a platform you know you will lose money on? |
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All those coins help BTC. When you'll want to cashout, you wont be selling "Xcoin", you'll be selling BTC to some person on some FIAT exchange.
So, it's a nutshell ;p
Exactly and if it weren't for altcoins, BTC would still be uncirculated and all in the hands of just a few people. You could also argue though if not for the shitcoins good coins like XC, Vertcoin, Monero, Minerals etc. would be worth more too. The alt market as it stands isn't creating new wealth, just recycling existing money around from trader to trader, and it is dying fast. Coin pumps used to last as long as weeks in some cases 6 months ago, now they are blip coins that come and go in just 2-3 days. Eventually the masses are going to get tired of it and leave in droves and they already are starting to, it doesn't leave a positive impression of crypto as a whole. |
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I make money on altcoins. If I spot a ninja, I jump on it and throw jiggahashes. That's how I pay my bills and rent.
There are more people like me, who might be making more money than me and they have agendas.
Well I can respect that. I don't mind P&D coins as long as people recognize it for what it is. What I hate is when devs lie and make it sound like this is a promising new coin and keep you on the hook waiting for a whitepaper or killer feature that will never come. It is amazing how naive people actually get around here to believe the BS that comes out of people's mouths. I'd respect more if a dev launched a generic coin that did nothing and said, "this is it folks, happy trading" lol |
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Just go with the flow. If you can make money, make them. If you can't stop hating.
What's wrong with people nowadays? Don't you freaking realize that 95% of the coins out there have no purpose?
I never got this theory we should be happy to fight each other to make a few dollars here and there while all these devs are laughing making tens of thousands recycling these same con coins. I got a better idea, how about we support GOOD coins that actually build up market caps of tens of millions, hundreds even, and we ALL make good money instead of the top 5% of inside traders. Instead of trying to leech nickels and dimes off each other in daily P&D games we could be building a future for crypto where those late to the game have to pay big money to have what we got just like how the early holders of Bitcoin and Litecoin were rewarded handsomely. |
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Pump and dumpers, voot bag holders are crying now. Mintpal finally ignoring the twitter whores. Not into this coin just happy to see the twitter sluts cry and not get their way for the first time.
Go ISIS!
Maybe I'll buy when the script follows the same pattern as all the other CK coins, dev promises whitepaper, disappears and never comes back, and "the community" hopelessly tries to relaunch the coin. Then dev moves on to creating another cartoony coin with the same 2 pt stroke pattern around the logo with another instamine POW period, a low coin count and X20 algo this time, everyone buys, gets conned again, rinse, and repeat. |
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It's not even the fact Mint added a new coin that bothers me, it is the fact ISIS is most likely another quick 3-day POW, low coin count gimmicky scam coin from Carsen Klock.
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How much weed and xanax did Carsen Kock have to bribe Mintpal with to get ISIS on there?
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Here is my submission again  |
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Wasn't Kaliber1 the one fudding on IRC and possibly also truthful, now he's a believer  |
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One should always be skeptical. I'm still skeptical but I've bought some because, as you point out, this appears far more legitimate than most coins. The reason one needs to be more skeptical in a case such as this is because of the magnitude of the claims and promises made. What this coin wants to do is a pretty momentous, far-out goal and it is hard to believe at first (especially because of how many scams do take place here) so of course it needs more substance than the usual coin to back it up.
Well I'm not naive to 100% think it is going to work but people seem to think having a grand idea or a business plan that may ultimate fail constitutes a scam now too. I'd rather invest in a failed idea than a successful con. |
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