[ANN] Unobtanium: Current Release 0.9.5

[canoe]

I've added Unobtanium to my blockchain charts website:

http://cryptometer.org/unobtanium_96_hour_charts.html
http://cryptometer.org/unobtanium_90_day_charts.html
http://cryptometer.org/unobtanium_104_week_charts.html

You can see in the first link that it does look like a very nice start.  FYI, I use a logarithmic scale on the "Minted Currency" chart.  Due to the mathematics of logs, values less than 1 show up below the x axis.  You can see these for the first 21 hours after launch and then it jumps to 28 UNO at Hour 22.  And that lines up nicely with the comments and times in this thread.

When looking at the 3rd link, it shows that there is a small problem with the progressive difficulty algorithm.  Unobtanium is advertised as a having a block generation rate target of every 3 minutes.  In actuality, it is consistently generating blocks at 375% that rate, a block every 48 seconds on average.  Consistently missing the target can happen when there is a constantly increasing network hashrate.  For exmaple, bitcoin has been operating at about 120% of target rate for the past year because of the ever increasing number of ASICs being added to the network.  That is not the case with Unobtanium.  You can see in weeks 11 and 12 there was decreasing network hasrate and this did not correct the block generation rate.  

It's not a serious problem because the block generation rate is very stable so transactions are stable.  It's just a bit misleading.  I suspect the problem could be solved by increasing the size of the window of previous blocks that the algorithm uses but this would require a hard fork.  It could also simply be solved by re-branding the coin as having 48 second blocks.  Here is the by-week chart with the target changed to 48 seconds.  It looks as it should:
http://cryptometer.org/unobtanium_104_week_charts_48.html

I've also found this problem in Zetacoin, Tigercoin, and FireFlyCoin.

[moonmoon]

Congrats on getting a front-page mention on Zerohedge:

[ATXsilver]

I just sold 25 Morgan Silver Dollars for 125 UNO. What you guys think, fair deal?

[Benefactor]

I just sold 25 Morgan Silver Dollars for 125 UNO. What you guys think, fair deal?

Yes, silver should do well this year, but UNO should surpass it's performance, still, over the next couple of years, IMHO.

[yannis7777]

Could someone suggest a good mining pool for unobtanium guys? Many thanks in advance.

[canoe]

Could someone suggest a good mining pool for unobtanium guys? Many thanks in advance.

I'm using http://un.coinmine.pl and it's working fine.

And there's a list of them here: https://bitcointalk.org/index.php?topic=313126.msg3358654

[BitcoinCharlie]

Could someone suggest a good mining pool for unobtanium guys? Many thanks in advance.

I'm using http://un.coinmine.pl and it's working fine.

And there's a list of them here: https://bitcointalk.org/index.php?topic=313126.msg3358654

Canoe,

Do you get a lot of rejects there? HW errors??

Thanks!

[BitcoinCharlie]

I just sold 25 Morgan Silver Dollars for 125 UNO. What you guys think, fair deal?

I'd say you got a smokin' deal on the UNO!

[canoe]

Could someone suggest a good mining pool for unobtanium guys? Many thanks in advance.

I'm using http://un.coinmine.pl and it's working fine.

And there's a list of them here: https://bitcointalk.org/index.php?topic=313126.msg3358654

Canoe,

Do you get a lot of rejects there? HW errors??

Thanks!

Here's some of my cgminer stats:
GetWorks: 1131
Accepted: 2063
Rejected: 414
So that's 20% reject.  Is that high?  I'm making the projected amount of UNO per day so perhaps if everyone gets 20% rejects it works out to the same thing?

As for HW errors, I don't think that's affected by which pool you use.

[BitcoinCharlie]

Could someone suggest a good mining pool for unobtanium guys? Many thanks in advance.

I'm using http://un.coinmine.pl and it's working fine.

And there's a list of them here: https://bitcointalk.org/index.php?topic=313126.msg3358654

Canoe,

Do you get a lot of rejects there? HW errors??

Thanks!

Here's some of my cgminer stats:
GetWorks: 1131
Accepted: 2063
Rejected: 414
So that's 20% reject.  Is that high?  I'm making the projected amount of UNO per day so perhaps if everyone gets 20% rejects it works out to the same thing?

As for HW errors, I don't think that's affected by which pool you use.

I used to mine at miners-point and got a similar amount of errors. When i mine BTC or PPC, I only get about .07% errors.  Can anyone provide a reasoning as to why UNO mining errors are so high?

[add1ct3dd]

United Miners just launched their UNO pool!

http://uno.united-miners.com - has the usual pool features:

Stratum with VARDIFF - adjusts automatically to your hashing speed for optimal results
1 % FEE - small fee to ensure pool stays alive - we have very extensive hardware to ensure no downtime Smiley
Idle Worker Notifications - you will be mailed when a worker goes idle
Fancy mobile site - access the site easily via your IPhone/Android
SSL protected
DDoS Protected

Any questions please ask.

[FallingKnife]

Some good trade action this week on Cryptsy's UNO board.
Getting more and more difficult to accumulate under 005.  Time to set sights on 006 and way beyond.

[moonmoon]

Block halving coming up soon   I just keep mine and bought, mined and bought.  Have high expectations.  Hope to be fulfilled.

[BitcoinCharlie]

Buy / mine while you can. Once people realize that it is an excellent store of value, it'll rocket! 

[FallingKnife]

Good news for UNO today from Coinmarketcap.com.
UNO is up more than 10%, and has now surpassed Bitbar in BTC market cap. Bitbar is a competitor in the rare-coin category that didn't have a fair start like UNO; people are starting to understand that UNO is set apart from the likes of BTB.

Here's a shot of the chart. http://imgur.com/rTerZ48

 It's much more valuable than it's current price.  I'm accumulating below 006 while I can, but the trend is definitely up. Keep your UNO on the sidelines and let it run for awhile.  It'll be up into the .01's soon enough.

[BitcoinCharlie]

Good news for UNO today from Coinmarketcap.com.
UNO is up more than 10%, and has now surpassed Bitbar in BTC market cap. Bitbar is a competitor in the rare-coin category that didn't have a fair start like UNO; people are starting to understand that UNO is set apart from the likes of BTB.

Here's a shot of the chart. http://imgur.com/rTerZ48

 It's much more valuable than it's current price.  I'm accumulating below 006 while I can, but the trend is definitely up. Keep your UNO on the sidelines and let it run for awhile.  It'll be up into the .01's soon enough.

Great info! I'm ready for it to be 5x BTC tho! 

[rojan]

What should the price of unobtanium be today?  Are many selling much UNO for prices currently asked by the market on the exchanges lately?  I am buying as much UNO as I can afford and locking 90% of it away because it seems so undervalued right now.  It ranks 14th in $ price on coinmarketcap.com.  It's been listed on cryptsy for about 6 weeks and has been relatively flat for the last 3 weeks in the 004 - 005 range.  Soon the UNO block reward will halve from .50 to .25 according to coin stat blog. http://cryptocoinstat.com/reward.php?coin=UNO  Also the blogger writes:

"What happens when mining reward halves?"

"First of all currency supply from mining also halves, But it doesn’t mean that prices will always rise, because there are coins circulating which were mined before that date. However when market is stable reward halving causes increase in price. This is what happened in the end of 2013 with Bitcoin price, when for the first time Bitcoin mining reward halved from 50 to 25. Many people knew about that and begin purchase for that event and expected bubble."

[FallingKnife]

What should the price of unobtanium be today? 

"What happens when mining reward halves?"

"First of all currency supply from mining also halves, But it doesn’t mean that prices will always rise, because there are coins circulating which were mined before that date. However when market is stable reward halving causes increase in price. This is what happened in the end of 2013 with Bitcoin price, when for the first time Bitcoin mining reward halved from 50 to 25. Many people knew about that and begin purchase for that event and expected bubble."

You ask an interesting question.  When the reward halves, of course, there will be fewer coins trickling onto the exchanges.  There was post recently that showed that UNO has been producing coins faster than expected. https://bitcointalk.org/index.php?topic=313126.msg4808753#msg4808753 But certainly there will be fewer coins.

A fair price for UNO is speculation, of course. It's worth what someone will pay for it. But given it's a SHA coin, limited issue, with a community, a valuable fair start, no premine... it just seems to me it should at *least* double the current price, to .01 or .15. I expect it to go much higher than that, but even in the short term it seems grossly under priced here. It's really just 20% above its recent lows.

UNO just had a bit of a rally to around 0056 this past weekend.  I watched some buyers tear down some walls (nothing too major, a wall in this market is only about 1 btc right now). When UNO first hit exchanges there was a price spike, and there were some buyers who got in high a month ago who probably want out, and I suspect some of them have been putting some downward pressure on UNO to get out from under those positions. We'll just have to work through that.  Hopefully those positions aren't too substantial. I take heart knowing that there's nobody who pre-mined 10% of UNO waiting to drop a bomb. Everyone who owns it today either mined it fairly or bought it.

The best situation would be larger investors continued to hold back their buy orders. Cryptsy has around 1.5% of minted UNO listed, as far as I can tell, so it's pretty thin availability. It doesn't take much BTC to rocket the UNO market right now. To get to .07 right now from .05 would only require about 13 btc. I'm content to sit on my coins for at least the next 6 months until this catches fire, will continue to buy up coins that drop below .05.

What needs to happen, in addition to accumulation by believers, is some good old fashioned marketing, promotion, outreach to bloggers, differentiation of UNO, and continuing to show there's a UNO community.  I retweet anything having to do with UNO to my followers, and just otherwise try to lend what support I can to the coin. We just need to sing the coins praises, and make sure it's good product overall.

[crazyearner]

Block halving coming up soon   I just keep mine and bought, mined and bought.  Have high expectations.  Hope to be fulfilled.

OH FFS! the damn thing already just halved

Nope current blocks and counting 194896 block half is at 204,000 ETA 9,104 blocks to go before half.

Also coin now added and supported at http://cointalk.pw/forum/index.php?board=46.0

mining pools, exchanges, services are in process of being added.

[BitcoinCharlie]

What should the price of unobtanium be today? 

"What happens when mining reward halves?"

"First of all currency supply from mining also halves, But it doesn’t mean that prices will always rise, because there are coins circulating which were mined before that date. However when market is stable reward halving causes increase in price. This is what happened in the end of 2013 with Bitcoin price, when for the first time Bitcoin mining reward halved from 50 to 25. Many people knew about that and begin purchase for that event and expected bubble."

You ask an interesting question.  When the reward halves, of course, there will be fewer coins trickling onto the exchanges.  There was post recently that showed that UNO has been producing coins faster than expected. https://bitcointalk.org/index.php?topic=313126.msg4808753#msg4808753 But certainly there will be fewer coins.

A fair price for UNO is speculation, of course. It's worth what someone will pay for it. But given it's a SHA coin, limited issue, with a community, a valuable fair start, no premine... it just seems to me it should at *least* double the current price, to .01 or .15. I expect it to go much higher than that, but even in the short term it seems grossly under priced here. It's really just 20% above its recent lows.

UNO just had a bit of a rally to around 0056 this past weekend.  I watched some buyers tear down some walls (nothing too major, a wall in this market is only about 1 btc right now). When UNO first hit exchanges there was a price spike, and there were some buyers who got in high a month ago who probably want out, and I suspect some of them have been putting some downward pressure on UNO to get out from under those positions. We'll just have to work through that.  Hopefully those positions aren't too substantial. I take heart knowing that there's nobody who pre-mined 10% of UNO waiting to drop a bomb. Everyone who owns it today either mined it fairly or bought it.

The best situation would be larger investors continued to hold back their buy orders. Cryptsy has around 1.5% of minted UNO listed, as far as I can tell, so it's pretty thin availability. It doesn't take much BTC to rocket the UNO market right now. To get to .07 right now from .05 would only require about 13 btc. I'm content to sit on my coins for at least the next 6 months until this catches fire, will continue to buy up coins that drop below .05.

What needs to happen, in addition to accumulation by believers, is some good old fashioned marketing, promotion, outreach to bloggers, differentiation of UNO, and continuing to show there's a UNO community.  I retweet anything having to do with UNO to my followers, and just otherwise try to lend what support I can to the coin. We just need to sing the coins praises, and make sure it's good product overall.

Fallingknife,

I completely agree. It seems that the upswing on UNO may take some time, but in the long-term (for the reasons you outlined above) it should become quite an excellent store of value...especially for those who understand the technology or are developers.

I have been acquiring UNO regularly on Cryptsy on dips.  There are people selling it on Ebay for $37.5 / coin who have been selling some.  I think, however, that the coin needs a bit more action and excitement on the boards. Not exactly sure how to get it there tho...