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

[Levole11]

Guys, remember that the true value of a coin isn't measured in dollar value. Look at Doge Coin, it is worth a fraction of a fraction of a penny, yet hundreds of thousands of dollars are invested in it everyday. Don't lose sight of why we are in crypto. The bankers are playing a game with our money supply, and its time we abandon them. That's why the goal of nearly all crypto (with the exception of some) is primarily to be used as currency. If you had a currency that could tell time, walk your dog, make dinner and keep your wife happy, it still wouldn't be a successful currency if no one accepts it! Without acceptance, everything else is just a gimmick. Bitcoin itself is really just a plain coin, their are plenty of other cryptos that have much more to offer in terms of speed, security and features. Yet Bitcoin is favorited by all because it is the most accepted of all. Bitcoin had the luxury of being first, but in order for Ultracoin to be one of the best, and in order for an alt-coin to ensure its survival it will need a plan for long term acceptance. Simple economics 101, money is a medium of exchange, without that their is no accounting trick in the book that will make a greater return on your investment. All this talk about cutting block rewards, going full POS, etc, is all meaningless without mainstream acceptance.

Now, we all know what kind of community involvement it took to get accepted on coinpayments, the next step is to get accepted by as many vendors as we possibly can on coinpayments. Read this thread and copy and paste the message into the provided link in it just below. It will only take seconds, and this simple action could pave the way to the future, which of course involves our beloved Ultracoin.

http://ultracointalk.org/index.php?topic=137.0

Done...

[1714766935]

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[1714766935]

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[derBruchpilotPro]

@RichardMiner

I think most PoS haters have arguments like "PoS coins are instamined scam" (wouldn't apply to UTC then), or just the fact that they cannot make profit with mining and dumping.

We've seen here that reducing the block-reward didn't have the desired effect, looks like it just reduced the number of miners.
If I calculated it right, we have a coin supply of 72000 UTC per day, which must be bought if dumped or hold by the miners to maintain
the coin value, and full PoS coins with much less coin-supply per day have problems to hold their value.

72000UTC are ca. less then 2BTC per day ATM that sounds not much, but thats 14BTC a week 60BTC per month just to hold the current value.


But you're right RichardMiner, it might be just Abracadabra like reducing the block-reward cause it will not solve all the problems.

Even without inflation, UTC needs more demand to get back up, but at least PoS should make it a bit easier to hold the value.

I believe the future of PoW ist just to distribute a coin, and the only way to mine profitable ATM is to mine a PoS coin in PoW phase and dump it at the right time.

At least at the electricity prices here, securing a PoW coin isn't much profitable, so the future of PoW is questionable IMHO.


Thats all IMHO, I might be wrong but I believe full PoS is the future for the Altcoins.

Alex


PS:
The only CON I see with full PoS is that we didn't get the attention of miners anymore, but as said I think this will be just a matter of time anyway...

[ultradar]

Guys, remember that the true value of a coin isn't measured in dollar value. Look at Doge Coin, it is worth a fraction of a fraction of a penny, yet hundreds of thousands of dollars are invested in it everyday. Don't lose sight of why we are in crypto. The bankers are playing a game with our money supply, and its time we abandon them. That's why the goal of nearly all crypto (with the exception of some) is primarily to be used as currency. If you had a currency that could tell time, walk your dog, make dinner and keep your wife happy, it still wouldn't be a successful currency if no one accepts it! Without acceptance, everything else is just a gimmick. Bitcoin itself is really just a plain coin, their are plenty of other cryptos that have much more to offer in terms of speed, security and features. Yet Bitcoin is favorited by all because it is the most accepted of all. Bitcoin had the luxury of being first, but in order for Ultracoin to be one of the best, and in order for an alt-coin to ensure its survival it will need a plan for long term acceptance. Simple economics 101, money is a medium of exchange, without that their is no accounting trick in the book that will make a greater return on your investment. All this talk about cutting block rewards, going full POS, etc, is all meaningless without mainstream acceptance.

Now, we all know what kind of community involvement it took to get accepted on coinpayments, the next step is to get accepted by as many vendors as we possibly can on coinpayments. Read this thread and copy and paste the message into the provided link in it just below. It will only take seconds, and this simple action could pave the way to the future, which of course involves our beloved Ultracoin.

http://ultracointalk.org/index.php?topic=137.0

I agree with your statement but ultracoin needs more innovation or something very different to attract more buyers until this happens the coin might die..so i dont know if we can make it to get accepted by vendors before ultracoin dies...with this low volumes we are candidates of being delisted by exchanges...WAKE UP...we dont need only advertisement and recognition we also need an innovation or something new to ultracoin..And i think goin full pos will be a good idea...this can make as better than too many other coins out there ...Cheers!

[LHM]

Can't understand which N-factor Ultracoin has at the moment. According this page it has N=13, but miner says that N-factor is 15

http://s12.postimg.org/53hyg3skr/utc_nfactor.png

don't forget:

--starttime 1388361600

without that it is defaulting to the coin it was made for.

[tammuz]

don't forget:

--starttime 1388361600

without that it is defaulting to the coin it was made for.

Yeah, you are right. I didn't know about it.

[rapture333]

Keep submitting forms! It only takes seconds, tomorrow we will target another business and send out the next wave of e-mails!

http://ultracointalk.org/index.php?topic=137.0

Today's business we will be targeting is: http://btcpipeshop.com/

They accept a wide variety of crypto-currency so there is a high chance that they will accept Ultracoin with a little push.

Go to this link and send an inquiry form: http://btcpipeshop.com/index.php?route=information/contact

Hello ladies and gentlemen! I have created the rough draft for the business letter we mass e-mail potential vendors to start accepting Ultracoin! Simply copy and paste this into an e-mail and send to the specified vendor, feel free to alter it any way you choose AND BE SURE TO CHANGE THE SIGNATURE TO YOUR NAME! Follow this thread on Ultracointalk.org to stay updated with the plan of attack.

Code:

To whom it may concern,

As a business owner I am sure you can understand the need to listen to your customers while 

offering new products and services to stay ahead of the competition. I am a customer who 

uses the crypto-currency Ultracoin as my preffered method of payment. Ultracoin is an up 

and coming, extremely fast and supported currency with a large grass roots community behind 

it. There are currently thousands of users who are holding Ultracoin, users whom are 

already using Ultracoin as a legimitate form of exchange. Businesses that support Ultracoin 

will have the full support of the community, as well as future exposure as businesses who 

accept Ultracoin will be added to a directory where Ultracoin investors can look and see 

where they can spend their money. If you wish to learn more about Ultracoin, here are some 

resources that I am providing for your research:  

http://Ultracoin.net/ - Ultracoin Website
http://UltracoinTalk.org/ - Ultracoin Forum 
http://goo.gl/Nz64Aw - Ultracoin Sponsors Elsa Hammond
http://ultracointalk.org/index.php?topic=126.0 - Ultracoin Acceptance Images

Thank you for your consideration of adding Ultracoin to your list of accepted payment 

methods. If you would like to start accepting Ultracoin, the communities preferred payment 

processor is coinpayments.net, which is an easy to setup payment processor for merchants:

https://www.coinpayments.net/home

If you have any further questions please feel free to post on our forum or submit a 

question here:

http://ultracoin.net/fusion/ - Community Help Desk
http://ultracointalk.org/index.php?board=13.0 - Ultracoin Marketplace

Sincerely,

Undersigned

[Marnie1976]

@RichardMiner

I think most PoS haters have arguments like "PoS coins are instamined scam" (wouldn't apply to UTC then), or just the fact that they cannot make profit with mining and dumping.

We've seen here that reducing the block-reward didn't have the desired effect, looks like it just reduced the number of miners.
If I calculated it right, we have a coin supply of 72000 UTC per day, which must be bought if dumped or hold by the miners to maintain
the coin value, and full PoS coins with much less coin-supply per day have problems to hold their value.

72000UTC are ca. less then 2BTC per day ATM that sounds not much, but thats 14BTC a week 60BTC per month just to hold the current value.


But you're right RichardMiner, it might be just Abracadabra like reducing the block-reward cause it will not solve all the problems.

Even without inflation, UTC needs more demand to get back up, but at least PoS should make it a bit easier to hold the value.

I believe the future of PoW ist just to distribute a coin, and the only way to mine profitable ATM is to mine a PoS coin in PoW phase and dump it at the right time.

At least at the electricity prices here, securing a PoW coin isn't much profitable, so the future of PoW is questionable IMHO.


Thats all IMHO, I might be wrong but I believe full PoS is the future for the Altcoins.

Alex


PS:
The only CON I see with full PoS is that we didn't get the attention of miners anymore, but as said I think this will be just a matter of time anyway...

When I heard the rumors yesterday about UTC going full pos it gave me goose bumps and I get a little exited.

I agree with several statements posted here before.
The management team needs to do something big.
But the famous One million Dollar question is :  “What kind of big things” ?

UTC has to fight and concur here place between the hundreds of coins out there and is in need of more gamblers, traders and investors who put their precious money to UTC.
To concur this place is a very hard job to do.

We can all agree that the awareness and the demand of UTC in the market is too low for a long time now, just as the amount of miners is too low for some time.
The last month UTC is getting lower and lower.

Some time ago we also noticed that going from 50 to 15 block rewards did dent do what was expected.
And even now we see that a great pool as Multipool doesn’t help UTC enough going up.
Yes strange! But true.

So what kinds of “big things” are still possible for UTC? What kind of special or new innovations are there?

In my humble opinion, there is nothing more possible because UTC does already everything;
It is Asic resistant.
It is Ultra-Fast.
It has a strong Dev team.
It has a great community.
It has hopefully soon the Mincraft plugin and a android wallet.

But unfortunately all this plus points did dent helped UTC going to the top 5 and stayed there.
 
So how the hell then we can we attract more traders, buyers and investors?
What more innovations could there be at this moment for UTC?

I guess none other innovation than just going full pos!

Without looking at arguments of the possible full pos opponents there are in my opinion more benefits for UTC to go pos.
It is simple : Less coins. Pos minting. More exclusive. More demand. And (hopefully) higher prices. Bigger future.

With al this saying here I am very curious towards an official statement of our management team.

Is going full pos for UTC a rumor or are you considering this seriously?

[PaulR1]

Guy's and Girl's,

The Multipool was specially build to help Ultracoins price going up.

The concept of mining the most profitable scrypt/X11/Sha256 coin, then selling for BTC and buying back UTC is a beautiful concept.

But if there are to less miners on the Multipool it wil not work and the Multipool has to close his doors soon.

Please consider to put your rigs and hashrate for at least of 75% on the Multipool !

 
Ultracoin Multi Pool     : http://www.cryptotrain.net/  

[mizultra]

So if no one is mining, how are the transactions verified...via stakeholders wallets or are their UTC transactions nodes or what? I don't quite understand how that works.

Anyone?

[mizultra]

Is there any reason UTC could move full POS gradually like over a month or 6 months instead of just all at once? Just wondering if there's any advantages or disadvantages of doing it that way?

[KickAzzDude]

I think going full POS would be the best thing to do right now unless other big things are coming soon. The multipool can't buy more coins than are being dumped daily so the price will never go up that way unless it gets a lot more hash.

[Youghoor]

more hash on the multipool will helps in increasing the value of the coin so the multipool can buy more UTC and we can also make some profit.

[RichardMiner]

I think going full POS would be the best thing to do right now  ..............

...then GO GO GO Management team.

GO FULL POS  

[Thirtybird]

Can't understand which N-factor Ultracoin has at the moment. According this page it has N=13, but miner says that N-factor is 15

That program defaults to the starttime for YACoin - if you want to mine a different coin, try pulling up the help and looking at the parameters you need to set for nfmin, nfmax and starttime.  If you set those properly, it will always mine at the correct NFactor, even if it switches while the miner is running.

[tsjaar]

I think going full POS would be the best thing to do right now  ..............

...then GO GO GO Management team.

GO FULL POS  

Hmmm management is watching this thread.... but it is really quiet. No conformations neither rejection... what to think. At least some excitement around...

Ps. A management pm would be appreciated ;-)

[funsponge]

I'm not sure about full POS. Can't we wait a few months until the new mining rigs come out to see if people switch to UTC. I didn't buy into a full POS coin. If you want that buy a coin which is please go elsewhere - there's many to pick from.

[cointradero]

If you guys go full POS, it will do nothing for demand.  I don't know why that is so hard to understand.  Why do I want UTC suddenly because you are PoS? Why do I want to buy a coin that changes it's mind as to what it is every other month?  

The problem is this thread is full of bagholders trying anything to artificially boost the value of the coin with no regards as to what the perception of those actions will be.  Go to the parent of this thread and count how many PoS coins are on the front page and ask yourselves how those are doing.  How's mint?  How's Liberty?  How's Minerals, Sat2, Guerilla, Fire, Nxt, etc.  There are probably 50 more of them.  

But I'm sure you're all stuck on Blackcoin's success.  How about Whitecoin?  It's down 90% from PoW phase.  

You're just going to look flaky and desperate going full PoS.  It will be seen as manipulative by those not involved in the coin as it effectively gives bagholders all the leverage.  I seriously doubt it will raise demand, but I can see it completely killing it.  

[jacobshm]

If you guys go full POS, it will do nothing for demand.  I don't know why that is so hard to understand.  Why do I want UTC suddenly because you are PoS? Why do I want to buy a coin that changes it's mind as to what it is every other month?  

The problem is this thread is full of bagholders trying anything to artificially boost the value of the coin with no regards as to what the perception of those actions will be.  Go to the parent of this thread and count how many PoS coins are on the front page and ask yourselves how those are doing.  How's mint?  How's Liberty?  How's Minerals, Sat2, Guerilla, Fire, Nxt, etc.  There are probably 50 more of them.  

But I'm sure you're all stuck on Blackcoin's success.  How about Whitecoin?  It's down 90% from PoW phase.  

You're just going to look flaky and desperate going full PoS.  It will be seen as manipulative by those not involved in the coin as it effectively gives bagholders all the leverage.  I seriously doubt it will raise demand, but I can see it completely killing it.  

i agree completely

[Official Ultracoin Team]

MANDATORY WALLET UPDATE

UPDATE NOW THE MANDATORY WALLET UPDATE V.1.0.4.1

Dear UTC Community Members,


PLEASE DOWNLOAD ONE OF THESE FILES FOR THE WALLET UPDATE :  

> Ultracoin Windows Wallet V1.0.4.1 Download here
> Ultracoin MAC Wallet V1.0.4.1 ( Untested ) Download here


HOW TO UPDATE THE WALLET ? :

Step 1 : Type %appdata% in the windows search box (You see it when you click the start button)

Step 2 : Find the Ultracoin folder

Step 3 : Copy the wallet.dat securely into a backup folder you choose (DO NOT DELETE OR CUT YOUR WALLET.DAT FILE)

Step 4 : Delete everything in the appdata/ultracoin folder (BUT DO NOT DELETE THE WALLET.DAT FILE !!)

Step 5 : Download the wallet of your choice (Windows or MAC)

Step 6 : Extract the folder from the download somewhere, now drag the Ultracoin-qt.exe from the new download into your normal wallet folder (not into the appdata/ultracoin folder but your wallet folder)

Step 7 : Click yes when it asks "do you want to replace the file"

Step 8 : Start the wallet. It will now download the entire blockchain again (this will take some time)



The update V1.0.4.1 addresses the following content:
> POS 5,2% p/year – 0,1% p/week (starting as from block 450000)
> Some small new futures and new pop up warning screens
> Using the new UTC 2.0 logo

Remember; for Stake Minting at V1.0.4.1 you will have to keep your wallet open for 24/7 and Enable Stake Minting with your password !

[CryptoCthulhu]

If you guys go full POS, it will do nothing for demand.  I don't know why that is so hard to understand.  Why do I want UTC suddenly because you are PoS? Why do I want to buy a coin that changes it's mind as to what it is every other month?  

The problem is this thread is full of bagholders trying anything to artificially boost the value of the coin with no regards as to what the perception of those actions will be.  Go to the parent of this thread and count how many PoS coins are on the front page and ask yourselves how those are doing.  How's mint?  How's Liberty?  How's Minerals, Sat2, Guerilla, Fire, Nxt, etc.  There are probably 50 more of them.  

But I'm sure you're all stuck on Blackcoin's success.  How about Whitecoin?  It's down 90% from PoW phase.  

You're just going to look flaky and desperate going full PoS.  It will be seen as manipulative by those not involved in the coin as it effectively gives bagholders all the leverage.  I seriously doubt it will raise demand, but I can see it completely killing it.  

+1
Going full PoS would mean one pump a then big bagholders' dump. Then the coin is dead. And really asic resistant.