UTC is down? , its like people forgot already what we have been doing?! so il post it again
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hi guys,
As you might have heard Jacoblight arranged for him and myself to go to the swedish bitcoin conference 2014 in Stockholm,and i can tell you that it was very fruitfull,and we will doing this more often since the benefits are numerous.
We have learned new thing things and consolidated old plans into a clear path and method of action.
I will make it clear what we are going to do,how we are going to do it , and why.
But let me summarise the event first....
There were many speakers,all with a different angle on bitcoin and crypto currency.It was very refressing to attend and i am very happy that Jacob contacted btcx on his own initiative and made me aware of it.
This is exactly the type of community member that i need and that i can rely on.That is why he has been appointed as event manager as of right now ( he has been rewarded 2500 UTC for making this conference happen and as a signing bonus,Xwebnetwork and Dcgirl have also recieved UTC ammounts))
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Team UTC:I am currently indexing and expanding the vital positions of Team UTC and the following are already clear.
Filled:Bumface - founder/coordinator
Ziggy - secundairy coindev
Xwebnetwork - web dev.
Dcgirl - app dev
Jacoblight - Event manager
Not yet filled (recruiting)-Primairy coindev (i wont let anybody mess with the code so this hase to be an experienced coindev with a proven trackrecord)
-Promotions manager (Invent new promotions and Team UTC will vote on it)
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What were the benefits of attending the conference?1:Coming out of anonimity as founderi have chosen to go and be recorded and give up my anonimity for a very specific reason,proving the already existing credibility of Ultracoin.
While there are 100`s of coins only few people come foreward as the founder ,like Charles Lee.I believe that the time has come where UTC will evolve into
a credible coin for many.IN fact we did not encounter any negative reactions from speakers,delegates or visitors of the conference.
When you dont attend these things and contact the people by email that i have now spoken to face to face,you will be regarded as spam and you will achieve nothing.
We have now given a face to the world behind UTC, as well as prove that we have nothing to hide.
2:Make new relationships for the future.As i have just mentioned people now know the person behind Ultracoin.I have handed out many buisnesscards with out informations such as the website,email and twitter,and i have
gotten the contact information from some important people,such as
-Btcx CEO Christian Anderson
-btcx public relations - Thomas Larsson
-Kraken COO Michael gronager
-Bitcoin foundation Executive Director - Jon Matonis
-Ursium Founder,CEO Stephan Tual
-Pirate party founder - Rick Falkvinge
-Grecom - Gregor Knafelc
-yacuna - Stanislav Wolf
Many of these people were speakers and shed light on relevant angles regarding bitcoin and crypto currency,Jacob and i were delighted to attend and i was very gratefull that i could participate in the altcoin expert panel which was also filmed and can be found under this text.
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Were there any things done or said at this time?Yes.
-I had a chance to speak with Kraken COO Michael Gronager (who was also a panel member) and he told me one of their criteria for accepting new coins is becoming a member of the top 5 on
http://coinmarketcap.com/.
I feel that exchanges of this quality and respectability can not afford to implement an unproven coin for it might damage their credibility and reputation,so this is understandable. However please note that he told me he would be keeping an eye on Ultracoin,and the future developements.
- Bitcoin foundation Executive Director Jon Matonis agreed with the strategy of Ultracoin as an arbitrage vessel because of the ultrafast confirmation time (i will
explain this strategy in detail below)
- Btcx CEO Christian Anderson was glad to see the person behind UTC,and got a good feeling from it.No deals have been made at this time but the chance of a future
partnership is realistic.
We will maintain contact and a future partnership is a realistic possibility,however i should amphasize that their payment processor is a service for actual
brick&mortar retailers.Until the demand is sufficiant,it is futile to have actual physcal shops accepting UTC, since nobody knows what it is.There is a logical order of growth that every coin must abide by.
I can already hear the voices of critics saying "so you did not make a partnership with them for the payment processor"....correct and this is not a problem in fact this
is in our best interest at this specific point in time.
Lets create an imaginairy situation where they did say we will implement UTC in the payment processor,and You could pay in Swedish stores with UTC.now people
will say "what the hell is utc", and nobody would use it,discrediting btcx.
This can not happen,so what im saying is if there was a proper knowledge base for UTC and a matching demand it would be another story,and this is why you must
go to events to build and maintain relationships for the future..
The new Ultracoin roadmap will facilitate a renewed demand for the coin, expanding the userbase and making the value go up.
-Team UTC has been invited to the 2014-05-15 Bitcoin Foundation Bitcoin 2014 Amsterdam, Netherlands conference.
-Team UTC has been invited to the 2014-09-01 World Bitcoin Forum 2014 Bonn, Germany conference.
At this moment as visitors,and hopefully as a speaker again.
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What is this new road map?Strategy 1 : Arbitrage VesselAs you all know Ultracoin is extremely fast,And we have created a new strategy as an arbitrage vessel.I will start contacting exchanges that currently carry UTC and i will request if they activate instant deposits and withdraws of UTC...
This will enable Ultracoin to become an arbitrage vessel for other coins.
For example:
litecoin is worth 10.3 USD on mintpal and 10 USD on crypto trade.(you choose which coinholding you want to expand and you have already placed LTC on the exchanges that have enabled instant UTC deposit and withdraw)
1: Sell LTC for UTC on Mintpal
2: Send This UTC as a value vessel From Mintpal to Crypto Trade.During this value transfer you have a 40 second window where UTC price could go up or down,this is an acceptable risk.
3: Sell the UTC for LTC (you are buying back LTC lower then your selling point and you have now gained the difference in LTC value,by expanding your LTC holdings).
To make this easyer we will create a page on
www.ultracoin.net showing the arbitrage profit margins in % and dollar and btc,and arbitrage pathways between exchanges in the pair that you select
(as well as a compensation for inter-exchange UTC value)
This will all feature real time data,and an option to save your preferences.This is a multipahese operation
1: Show information
2: Create User profiles
3: Implement API`s from exchanges
4: Automate trading (browser or stand alone desktop client a.k.a bot)
5: 3rd party value vouchers (UTC secondairy block functionality ,like colored coins)
UTC as a arbitrage Value voucher (secondairy blockchain functionality) 1 - deposit BTC in the "bank", (a trusted and licenced money transmitter)
2 - recieve value vouchers built into the UTC blockchain for equivalent value of the deposit (2.0 functionalitys comparable to colored coins and so on)
3 - user places buy order for LTC on the exchange that has the cheapest LTC,Exchange A (Value voucher is instantly transferd to the exchange,its now an IOU)
4 - exchange A advances payment to the sell order from a Fund assigned to them by the 3rd party bank.
5 - User recieves an LTC value voucher and the sell order is removed from the orderbook of the exchange
6 - User BTC deposit is now transferd to the exchange,and purchased ltc is being transferd to the bank
7 - user now wants to sell the LTC on the exchange with the higher LTC price, so he sends the ltc ownership voucher to exchange B and the exchange sells ltc into the highest buy order.
8 - Now the actual LTC arrives in exchange B,a ccording to LTC transfer speed
9 - User sends BTC value voucher to the bank and recieves actual btc
this entire process takes just minutes, and is in time for an arbitrage opportunity, regardless of the coin species,The UTC acts as a value vessel.
No coin is fast enough for this,except Ultracoin and this will drasticly expand the userbase,since people like profit
This Arbitrage strategy will also bring a nice influx of users as well as extra revenue to the participating exchanges,and as i have mentioned before,Bitcoin foundation Executive Director Jon Matonis agreed with the strategy of Ultracoin as an arbitrage vessel.
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Strategy 2 : In game purchace.After the Arbitrage strategy has started and fase 1 is completed Team UTC will expand into the game community in the form of in game purchace (think of items and ranks)
The transfer speed of Ultracoin makes it possible to link an desktop wallet to the game plugin,that enables users to sell an itmen in game, and have the UTC in their desktop wallet within a minute.In game purchace is already possible but the payout
goes throug a central server,but decentralisation is one of the core ideologies of crypto currency.In a changing world the speed of things become more relevant.
The first game that we will initiate this strategy in is Minecraft,since the opensource nature of the Bukkit server software allows us to do this.So this will be an in game economy plugin directly linked to an UTC desktop wallet.
Examples:-User A sells a minecraft sword on a survival server and the user B recieves payment withing 1 minute after selling.Now he can save UTC, sell it on an exchange, or buy new hardware on
https://altoutlet.com/utc.
-A creative server sells a rank to a user for Ultracoin that has added functionality like world edit.
As some of you have already realised, this is also a strategy for expanding the userbase of UTC (like the arbitrage strategy).The minecraft community has millions of users) For example Minecraft has just been downloaded 12 million times for xbox alone
This is also a multi fase plan:
1: Build & test the plugin
2: When this plugin is finished and stable we will create our own Minecraft server called "Ultracoin server", where we will showcase the functionality of this plugin by having a real economy around UTC.
3: Distribute the plugin to other servers (Server owners recieve a small fee from the transactions being conducted on their server as an incentive to implement the plugin)
In the best case scenario we will have this plugin ready and implemented on the Ultracoin server in time for the winter DreamHack Event. Our new Event manager Jacob is in communication with the management of this event and he is currently inquiring how we can participate as a deligate.
This is one of the largest PC and game related event in the world and will promote UTC.
After Minecraft,this strategy will be repeated in other games.
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If you feel you are like Jacob , and you make something happen on your own innitiative , we welcome you into Team UTC with open arms,since this is exactly the type of community member that i like to call: The heroes of UTC.He has filmed the altcoin expert panel that i participated in as a speaker,and there was also a presence of swedish and russion television news crews (we have asked for the chanels where we can attain this footage).
I may be the founder of this coin,but without you guys UTC is nothing and worthless....
So please think about what you can do,
for example:
-Educate people about ultracoin in terms that they can understand and tell them how strong this community is.
-Show the transaction speed movie to everybody you know who knows something about bitcoin.
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Next wallet updateThe upcomming mandatory wallet update will feature:
-Blockreward to 20.(
miners please note that if you hold for a bit and let the price rise you will make the same ammount as now and probably more)
-coincontrol (keep old coins, only spend new coins to increase users POS reward)
-N factor delay (at least 2 more years of GPU mining)
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Event fundBecause of the numerous benefits of attending these things we need to keep doing this.This requires money for plane tickets, other travel expenses, sleeping arrangements and food and so on.
I will ask pools to raise their 1% fee to 2% and send the difference of 1% to an ultracoin event fund. New services will also have a 1% fee.I understand that it might seem strange to "tax" services but it simply takes money to make things happen.
UTC adress : UV65rd1p2D5TcAihXm4vdSWy89tTLajoEf
http://bitgo.pw:3731/address/UV65rd1p2D5TcAihXm4vdSWy89tTLajoEfAnother way to assist for this purpose is to donate in
BTCBTC adress : 1H8rUGC3KMv7XnkJddD7XJRJQMDqmex7He
https://blockchain.info/address/1H8rUGC3KMv7XnkJddD7XJRJQMDqmex7HeWhen i have my asics i will use a large part of the gain for these funds,so Team UTC can attend more and more globally.
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Now you can see why i said the trip to Stockholm has been very fruitfull,since we met alot of great people,got new ideas and have consolidated strategys as well as proven the legitimacy of Ultracoin by apearing in person.
This is the detailed roadmap for Ultracoin,and offcourse we will be doing more then this aswell (these other things can be found on the ultracoin.net bounty page)
Due to circumstances many of you are aware of,my workload became a bit bigger then originally anticipated,but as you can see i have now taken the time to adapt and renew my role as captain of this vessel.I have prepared myself to guide Team UTC for all the new developments and coordinate all efforts.
This and everything i have just stated above mean that there is absolutely no reason at all for this rediculusly low price....
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As a sidenote, the name bumface has outlived its usefullness since i chose it to match the trollbox when i got into crypto.I will now be know as Michael or Michael_UTC.I will still be using the name bumface on various platforms,but not on conventions and official publications and such since this does not benefit the credibility of Ultracoin, that i have now proven.
This is the video of the Swedish bitcoin conference 2014 in Stockholm,i am the middle panel member in the altcoin expert panel
http://www.youtube.com/watch?v=-qMOcFzF2c4&feature=youtu.beMichael
