[ANN] [ASIC-RESISTANT] UltraCoin (UTC) - Ultrafast 6 second transactions!!

[keepwalking1234]

 

[sniksen]

Pre-sale is even worse than pre-mine isn't it?

[BitCoinNutJob]

BTC-e mods are now banning people mentioning this coin in chat i see


Its fair really, we shouldnt speak of other coins unless all coins can be spoke of

[keepwalking1234]

everybody should be limited no more than 2000UTC on the presale！


then more people will involved！

it is rally a pity the presale is over now！

+1

[Xamda]

BTC-e mods are now banning people mentioning this coin in chat i see


Its fair really, we shouldnt speak of other coins unless all coins can be spoke of

They're are banning anyone who mentions coin not at their exchange...

[Turpomann]

Just reading comments here... I feel lot of negative vibes. Failcoin?

[bumface]

in response to requests from the community we have decided to release a new version of Ultracoin which changes the retarget time to 6 hours, to prevent instamine.

You ask, we listen!

[lemfuture]

^ now youre just pushing it LoL

[bumface]

no new bids, 98% wil be mined thats it, you cannot present a deal then get people interrested, and then start changing the terms. This is immoral.

[VST]

no new bids, 98% wil be mined thats it, you cannot present a deal then get people interrested, and then start changing the terms. This is immoral.

Please explain to me how selling 1.6 million of your coin is not akin to a premine with a guaranteed dumping profit.... say someone buys these coins. Who gets the BTC from the transaction? I'm guessing you guys. You like to say that you're only getting 0.1% of the total number of coins, yet you have this huge chunk you're auctioning off in the beginning for something actually WORTH money right now

[Protagonus]

For me, I see now there was a mis-interpretation of the language.

I "thought" bidding for the 1.6M coins would go from Jan 13 - 27 as stated.
   Now the word "bid" is where my problem lies.  I assumed this meant the highest offers by the end of window; totaling 1.6M would be sold.  I did NOT realize the first people to offer to buy 1.6M @ 5 cents was the deal. 

To me, this seems to miss the statement

"The reason we want to sell of coins during the launch is because not everybody has an ability to mine coins, this would give an unfair advantage to early miners.
They would get a fairly large amount of coins due to low difficulty, giving a great advantage over traders who have to wait until our coin is accepted on exchanges."

I am one of these who doesn't have a great ability to mine coins.  I came here as soon as I saw ramblings, but still "bidding" was closed (along with address to bid) in less than one day of announcement.

BIDDING IS CLOSED<EXPECT A REPLY TODAY< WE MIGHT BE ABLE TO ACCEPT (ALMOST) ALL BIDS>STAY TUNED (we might have to counter some offers that were fairly large to give others a chance aswell), If certain payments do not follow through we will reopen that spot.

we are currently puzzeling all the offers together and taking some of very large offers so that every offer made can be accepted, expect an email today.  .

ow and no offer is to small for us, we value your support

It would seem then that possibly large amounts of coins went (are going) to just a few people.  Again, this seems to miss the original statement to allow everybody a chance who cannot mine.

Further, of these people who purchased large amounts;  aren't most going to insta-mine as well?  Doesn't this, then, exacerbate the first quoted statement; rather than help?

If someone happened to buy say 500k stake coins and has 50MH of mining;  they could control a significant market share for a few months

There was another post in this thread, where a user suggested 2k coins should've been the max for a single buyer and I feel I have to agree here.  Heck if not enough sold, maybe THEN you could sell large chunks.

I do not mean to spout negative and I do wish you and your coin success.  I tend to be leary of new coins, as it is;  I cannot deny that so far I'm even more hesitant.  I can say with assurity, though, if the evident backers weren't btc-e devs;  I'd have no part of it.

Thanks

[atomicchaos]

Just reading comments here... I feel lot of negative vibes. Failcoin?

Definitely "feel" them, since they get deleted. Any coin that can't stand up to the light of negative comments and they delete messages should be avoided.

[keepwalking1234]

everybody should be limited no more than 2000UTC on the presale！


then more people will involved！

[bumface]

guys, the orininal plan was to entertain more offers, but that would mean choosing one person over another, for example person A bids 0.00005 per coin and the next person bids 0.00006 per coin,

now we have to say no to person A,this just seemed to be to greedy, so we closed it up and we said yes to everybody

[Evilish]

What's done is done. Now let's focus on the launch of this coin.

[Brewins]

nice 80btc for them pre launch...

[gutshot5820]

everybody should be limited no more than 2000UTC on the presale！


then more people will involved！

I agree.

Bumface, without changing the original terms, is it possible to renegotiate some of the larger bids of large quantities and possibly spread some out evenly over a larger base?  I'm sure your ultimate goal is to have this coin succeed long term.  Usually when you have investors buy and hold large chunks, they flood the market as soon as they feel profitable and move on to the next new coin with no intention of investing or supporting the coin long term.  If you spread these coins more evenly and among a diverse group with smaller amounts, you can avoid the mass dumping and build a solid base. (which I think by your post was your initial intention) Hardly anyone would dump 2-5K shares and you would have a larger community of people committed with an investment in the coin and motivation to support it.

Just makes a lot of business sense to me, if you are looking to make this coin viable long-term, the more investors you have money invested pre-sale the more assurance you will have that they will mine and support the coin long-term.  If you limit the initial investors to a small group of larger investors, you are asking to have a lot of coins dumped as soon as they hit the exchange.  I think it would be reasonable to ask bids for large quantities to reduce their holdings to accommodate a larger base for the long-term success of the coin.  Just my 2 ultras.  

[BitCoinNutJob]

Without an open bidding system we dont know who owns the pre mine....im thinking they banked almost all of it.

The best way to fight back is to complain if this coin gets mentioned @ BTC-e... even the few corrupt MODs cant mention other coins & other exchanges.

Other MODs who aren't in on this have already banned people mentioning this coin.

[bumface]

i see the logic in some of the points being made here, but i can not go to people who have already paid and reverse bids already accepted.

[BitCoinNutJob]

just send the money back since its free & do the bidding system right. simple