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

[primouno]

I'm skeptical but intrigued at the same time. Interesting times   

Well said. It's just like me

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[MrBlacky]

POS is the end of UTC.

The last pump and dump before its end.

I really liked this coin and I thought it had a future right there next to DRK, VTC and BC.
But I guess the developers have other plans.

Can you maybe deliver some arguments to substantiate your theory instead of just throwing buzzwords, please?

History of all other POS coins that have all been pumped and dumped into oblivion.

The most successful alternative coins to litecoin are those that champion different algorithms.
Making ULT POS basically makes it abandon the algorithm market. It's strong point was the scrypt-jane algo.

[RichardMiner]

I'm skeptical but intrigued at the same time. Interesting times   

I don’t understand why some are skeptical or think it would be the end.
Oke some have pointed us at some good arguments but others are only shouting without giving any good reasons. I don’t think we can wait longer time to do something big for UTC. The asic resistant thing is a very attractive point, it is a pity to lose that, but nobody knows for shore when the asics are really being shipped and nobody knows for shore the miners will put their gpu’s on UTC for mining when the asics are finely there.
So tell me please, can you explain why UTC needs to stay like this? Do you think if UTC stay’s like this it will get more demand by itself in short time? even with the fact that every day new coins are floating the market? I don’t think it works like that anymore.
And please can you tell me what other specific features or things UTC can develop or start, other than start minecraft en get more web shops accepting the coin? I don’t think there are many other super-duper features possible anymore.
So agree with some others here. I guess there are not many other real options. Going full pos is not a bad thing for UTC. Together with mincraft and getting more web shops accepting the coin it can still be a big success.
And about the miners, they can mine at the UTC multipool x11 coins as they are doing now.
Win-Win

[fabietech]

I'm skeptical but intrigued at the same time. Interesting times   

I don’t understand why some are skeptical or think it would be the end.
Oke some have pointed us at some good arguments but others are only shouting without giving any good reasons. I don’t think we can wait longer time to do something big for UTC. The asic resistant thing is a very attractive point, it is a pity to lose that, but nobody knows for shore when the asics are really being shipped and nobody knows for shore the miners will put their gpu’s on UTC for mining when the asics are finely there.
So tell me please, can you explain why UTC needs to stay like this? Do you think if UTC stay’s like this it will get more demand by itself in short time? even with the fact that every day new coins are floating the market? I don’t think it works like that anymore.
And please can you tell me what other specific features or things UTC can develop or start, other than start minecraft en get more web shops accepting the coin? I don’t think there are many other super-duper features possible anymore.
So agree with some others here. I guess there are not many other real options. Going full pos is not a bad thing for UTC. Together with mincraft and getting more web shops accepting the coin it can still be a big success.
And about the miners, they can mine at the UTC multipool x11 coins as they are doing now.
Win-Win

Thank you richard for your comments there are allot of words we also have talked about with the experts!!!
And your opinion in that is the same as the experts!!

We are continuing with the minecraft and the acceptence of webshops only the market wont be floated with UTC everyday!!
If ( our ) asics will come we have allot of them and will put this also on the multipool to benefit UTC.

[allyouracid]

flobdeth: that's just more buzzwords. Still not satisfied.

POS is the end of UTC.

The last pump and dump before its end.

I really liked this coin and I thought it had a future right there next to DRK, VTC and BC.
But I guess the developers have other plans.

Can you maybe deliver some arguments to substantiate your theory instead of just throwing buzzwords, please?

History of all other POS coins that have all been pumped and dumped into oblivion.

The most successful alternative coins to litecoin are those that champion different algorithms.
Making ULT POS basically makes it abandon the algorithm market. It's strong point was the scrypt-jane algo.

Maybe, I'm not sure about how things will sort out (to be honest: I do not have any experience with the price-related development of other coins which went into full PoS). What I'd like to know is: what concretely makes PoS worse? I read here that transactions might take longer as an argument, but the counter-argument was that the transaction times were well considered in this decision. So, who's right now?

Also: how many coins are in circulation right now? If I remember correctly, 100kk coins were initially to be released over the period of 1 year (is that correct?), plus the PoS, of course. Now that the supply is being cut way earlier, is there any way to find out what the current total supply is?
[edit: coinmarketcap says 16,909,741 - just looked it up]

And the argument that noone is willing to let his coins sleep in his wallet to support PoS/network: at least I did setup a dedicated box which runs my wallet 24/7. I'm not sure about others but I don't think that lots of people would relinquish the interest, as well as I totally cannot imagine that there's so many people letting their coins sit on exchanges over a longer period of time.
And even if that is the case, I could imagine that the exchanges' wallets do have coin control features enabled, so maybe they also support the network (not sure about the amount of movement in exchange wallets in general, so it's just a guess).


If anyone wants to prove me wrong, please do so. At the moment, I'm here to understand the benefits and/or risks of going full PoS, so any arguments (besides "clusterfuck", offense intended) are highly appreciated.

.edit: grammar

[nanoprobe]

So I put a couple of Scrypt ASICs on the multipool today.  The hashrate at the pool is right, but the worker dashboard says 0 scrypt shares.  However, for some reason, I have a lot of SHA256 shares?  I'm using port 3333 in cgminer.  Is this normal or is something wrong with my setup?

Try switching to port 3334. Post your bat file. Might be an issue there.

[Levole11]

flobdeth: that's just more buzzwords. Still not satisfied.

POS is the end of UTC.

The last pump and dump before its end.

I really liked this coin and I thought it had a future right there next to DRK, VTC and BC.
But I guess the developers have other plans.

Can you maybe deliver some arguments to substantiate your theory instead of just throwing buzzwords, please?

History of all other POS coins that have all been pumped and dumped into oblivion.

The most successful alternative coins to litecoin are those that champion different algorithms.
Making ULT POS basically makes it abandon the algorithm market. It's strong point was the scrypt-jane algo.

Maybe, I'm not sure about how things will sort out (to be honest: I do not have any experience with the price-related development of other coins which went into full PoS). What I'd like to know is: what concretely makes PoS worse? I read here that transactions might take longer as an argument, but the counter-argument was that the transaction times were well considered in this decision. So, who's right now?

Also: how many coins are in circulation right now? If I remember correctly, 100kk coins were initially to be released over the period of 1 year (is that correct?), plus the PoS, of course. Now that the supply is being cut way earlier, is there any way to find out what the current total supply is?

And the argument that noone is willing to let his coins sleep in his wallet to support PoS/network: at least I setup a dedicated box which runs my wallet 24/7. I'm not sure about others but I don't think that lots of people would relinquish the interest, as well as I totally cannot imagine that there's so many people letting their coins sit on exchanges over a longer period of time.
And even if that is the case, I could imagine that the exchanges' wallets do have coin control features enabled, so maybe they also support the network (not sure about the amount of movement in exchange wallets in general, so it's just a guess).


If anyone wants to prove me wrong, please do so. At the moment, I'm here to understand the benefits and/or risks of going full PoS, so any arguments (besides "clusterfuck") are highly appreciated.

.edit: grammar

+1..
is flobdeths post deleted? If thats the case, when are you guys going to stop the censorship? Even though i didnt like the negativity, things arent going to get more positive by censoring...

[allyouracid]

Yes, please stop deleting posts.

[Marnie1976]

flobdeth: that's just more buzzwords. Still not satisfied.

POS is the end of UTC.

The last pump and dump before its end.

I really liked this coin and I thought it had a future right there next to DRK, VTC and BC.
But I guess the developers have other plans.

Can you maybe deliver some arguments to substantiate your theory instead of just throwing buzzwords, please?

History of all other POS coins that have all been pumped and dumped into oblivion.

The most successful alternative coins to litecoin are those that champion different algorithms.
Making ULT POS basically makes it abandon the algorithm market. It's strong point was the scrypt-jane algo.

Maybe, I'm not sure about how things will sort out (to be honest: I do not have any experience with the price-related development of other coins which went into full PoS). What I'd like to know is: what concretely makes PoS worse? I read here that transactions might take longer as an argument, but the counter-argument was that the transaction times were well considered in this decision. So, who's right now?

Also: how many coins are in circulation right now? If I remember correctly, 100kk coins were initially to be released over the period of 1 year (is that correct?), plus the PoS, of course. Now that the supply is being cut way earlier, is there any way to find out what the current total supply is?

And the argument that noone is willing to let his coins sleep in his wallet to support PoS/network: at least I setup a dedicated box which runs my wallet 24/7. I'm not sure about others but I don't think that lots of people would relinquish the interest, as well as I totally cannot imagine that there's so many people letting their coins sit on exchanges over a longer period of time.
And even if that is the case, I could imagine that the exchanges' wallets do have coin control features enabled, so maybe they also support the network (not sure about the amount of movement in exchange wallets in general, so it's just a guess).


If anyone wants to prove me wrong, please do so. At the moment, I'm here to understand the benefits and/or risks of going full PoS, so any arguments (besides "clusterfuck") are highly appreciated.

.edit: grammar

+1..
is flobdeths post deleted? If thats the case, when are you guys going to stop the censorship? Even though i didnt like the negativity, things arent going to get more positive by censoring...

I don't agree with you.

If somebody can not have any serious conversation or normal discourse and he can only be negative and talks about f**k this and f**k that and f**ked in the ass then delete that person post.

That is not censorship if the devs delete... it is just keeping this forum normal and respectful.

[allyouracid]

People using bad language disqualify themselves and I think others should have the chance to see them doing so. Also, even such posts can be discussed. My next question would have been whether he is able to express himself in an appropriate manner and if he might give some arguments for what he probably intended to say.

People here should have the chance to discuss stuff and they should also have the chance to disqualify themselves, imho.

[Levole11]

flobdeth: that's just more buzzwords. Still not satisfied.

POS is the end of UTC.

The last pump and dump before its end.

I really liked this coin and I thought it had a future right there next to DRK, VTC and BC.
But I guess the developers have other plans.

Can you maybe deliver some arguments to substantiate your theory instead of just throwing buzzwords, please?

History of all other POS coins that have all been pumped and dumped into oblivion.

The most successful alternative coins to litecoin are those that champion different algorithms.
Making ULT POS basically makes it abandon the algorithm market. It's strong point was the scrypt-jane algo.

Maybe, I'm not sure about how things will sort out (to be honest: I do not have any experience with the price-related development of other coins which went into full PoS). What I'd like to know is: what concretely makes PoS worse? I read here that transactions might take longer as an argument, but the counter-argument was that the transaction times were well considered in this decision. So, who's right now?

Also: how many coins are in circulation right now? If I remember correctly, 100kk coins were initially to be released over the period of 1 year (is that correct?), plus the PoS, of course. Now that the supply is being cut way earlier, is there any way to find out what the current total supply is?

And the argument that noone is willing to let his coins sleep in his wallet to support PoS/network: at least I setup a dedicated box which runs my wallet 24/7. I'm not sure about others but I don't think that lots of people would relinquish the interest, as well as I totally cannot imagine that there's so many people letting their coins sit on exchanges over a longer period of time.
And even if that is the case, I could imagine that the exchanges' wallets do have coin control features enabled, so maybe they also support the network (not sure about the amount of movement in exchange wallets in general, so it's just a guess).


If anyone wants to prove me wrong, please do so. At the moment, I'm here to understand the benefits and/or risks of going full PoS, so any arguments (besides "clusterfuck") are highly appreciated.

.edit: grammar

+1..
is flobdeths post deleted? If thats the case, when are you guys going to stop the censorship? Even though i didnt like the negativity, things arent going to get more positive by censoring...

I don't agree with you.

If somebody can not have any serious conversation or normal discourse and he can only be negative and talks about f**k this and f**k that and f**ked in the ass then delete that person post.

That is not censorship if the devs delete... it is just keeping this forum normal and respectful.

Well i remember flobdeth being quite positive in the beginning.. Obviously, he got frustrated by the bad management of this coin down the road.. And you cant blame him, given the history of UTC.. I dont agree with the way he expresses himself, but you can not disregard the frustration many have felt or are feeling...

[flobdeth]

Well i remember flobdeth being quite positive in the beginning.. Obviously, he got frustrated by the bad management of this coin down the road.. And you cant blame him, given the history of UTC.. I dont agree with the way he expresses himself, but you can not disregard the frustration many have felt or are feeling...

I was very positive, very until recently.  Yes, I should have worded it more "eloquently" but, I treat people/things with the respect they deserve and the way I see UTC (which I once thought has great potential) has been used and abused by the owners, they jump like ferrets after ideas to change this part of the algo or whatever because they think the price will magically shoot up overnight.  It's stupid, impatient and childish to assume just by the fact they have produced a blockchain it magically and mysteriously manifests £/$/insert worthless paper currency here.  There's a saying "More haste, less speed" learn from it.

POS does nothing but benefit large holders of a coin, which I guess suits the "new" owners just down to the ground, though I see no change in any leadership, merely his "mate" saying he's now in charge (convenient) it takes the small miners/investors out of the equation, well it takes miners out of the loop all together.  You can't mine it, only way to make anything off it is to have mined it from the start and held.  All they want right now is for mass buys so they can dump all over you's.  Not the first time, won't be the last

[Marnie1976]

......

Well we agree to disagree...
There are more scenarios possible.
Indeed every scenario has pros and cons.
And not everybody can be made happy the same.
It is good to show your feelings and start discussions about the scenarios.
And happy to see you can do that also without using swear words.

[bumface]

Well i remember flobdeth being quite positive in the beginning.. Obviously, he got frustrated by the bad management of this coin down the road.. And you cant blame him, given the history of UTC.. I dont agree with the way he expresses himself, but you can not disregard the frustration many have felt or are feeling...

I was very positive, very until recently.  Yes, I should have worded it more "eloquently" but, I treat people/things with the respect they deserve and the way I see UTC (which I once thought has great potential) has been used and abused by the owners, they jump like ferrets after ideas to change this part of the algo or whatever because they think the price will magically shoot up overnight.  It's stupid, impatient and childish to assume just by the fact they have produced a blockchain it magically and mysteriously manifests £/$/insert worthless paper currency here.  There's a saying "More haste, less speed" learn from it.

POS does nothing but benefit large holders of a coin, which I guess suits the "new" owners just down to the ground, though I see no change in any leadership, merely his "mate" saying he's now in charge (convenient) it takes the small miners/investors out of the equation, well it takes miners out of the loop all together.  You can't mine it, only way to make anything off it is to have mined it from the start and held.  All they want right now is for mass buys so they can dump all over you's.  Not the first time, won't be the last

This is simply not true.....Paul`r and fabietech have been mining utc since day 1, if they wanted to dump on people ,they would have done it when UTC was 1 dollar....I personally have never dumped, i only bought more.

People can still "mine UTC", that means indirectly in the multipool.This way you are mining, you get UTC,and the price also goes up...If the price goes up, that is good for everybody.Because of a string of unfortunate incidents UTC went down so there is nothing evil about going up.

As a general remark i would like to add , that this decision to go full pos must not be confused with a strategy to create demand,because those are 2 seperate things.....There are other strategys in place to create demand

The fact that the asic resistant nature will be given up has also been discussed extensively.We felt that people wont simply run to UTC when scrypt asics are shipped without a massive marketing campain.....

the transaction speed is also being investigated, so i want to asure everybody that we are not taking this decision lightly and that we are concidering all possible scenarios.If going full POS means the transactions will become slow, we must change the plan slightly.

Our primairy concern is with the safety of the code and with peoples holdings.

UTC was never a silly clone or a hype,and that wont change with new managers.These principles are the foundation of Ultracoin.

[flobdeth]

POS does nothing but benefit large holders of a coin

This is simply not true.....Paul`r and fabietech have been mining utc since day 1

case closed

[bumface]

POS does nothing but benefit large holders of a coin

This is simply not true.....Paul`r and fabietech have been mining utc since day 1

case closed

they did not dump.They are day 1 supporters of the coin.

If you want to twist this into something dark,thats really inapropriate.

They have done more for UTC then anybody.spending massive  BTC on mintpal and cryptsy votings and other things.Don`t try to portray them as bad guys.

If you are against the idea of full POS, that is fine and that is your right.Make sure to build your case with logic and arguments,and dont make false acusations on a personal level.

[RichardMiner]

POS does nothing but benefit large holders of a coin

This is simply not true.....Paul`r and fabietech have been mining utc since day 1

case closed

TOO SIMPLE to call this case closed flobdeth.....

You are very smart like a “spin-doctor”.

It is very convenient to bring this as sort of facts from the sideline.
Spreading your fud (I mean disbelief and frustration) and trying people to influence with it and then runaway.

What I read between the lines is that you don’t have any logic or good arguments and you make indeed false accusations on a personal level as Bumface stated before.

I see here (in my personal opinion) that you only show your own disbelief and frustration and that you are busy with attacking and hurting and trie to create doubts and negativity just like some famous trollers did before.

If you have any logic answers on your arguments please answer this with proof, that's very welcome at this tread. If you can't then keep silent and stay away in the future;

Why you think UTC has been used and abused by the "owner(s)"? And are you talking here about the old "owners" or also the new "owners" ?
Why do you think they jump like ferrets after ideas?
What do you mean "More haste, less speed" . What do they have to learn from that?
Why do you guess full pos suits the “new” owners?
Why you see no change in leadership, what are you missing or what you want them to do different?
Why it takes the small miners/investors out of the loop if there is a beautiful multipool?
Do you have proof of what you say: All they want right now is for mass buys so they can dump?

Please no fud answers we had in the past over and over again but just serious answers with facts or proof ok….

[flobdeth]

If you are against the idea of full POS, that is fine and that is your right.Make sure to build your case with logic and arguments,and dont make false acusations on a personal level.

You need to stop thinking about price.  Don't you dare tell me you don't care, it's in everything you write almost.
Forget about price, all of you in UTC.

How may times has it been forked now? 3-4?  Price has never moved, well, it's gone down, what does that tell you?

What about the other POS coins, there are few exceptions to the "price going down" what does that tell you?

There are only two ways to make UTC "profitable" (if $'s all you care about)

a) Change the Algo AGAIN, give it more to do than "money"

b) Instead of worrying about how changing it will affect price, maybe you should start worrying more about the support services, the infastructure?

I saw you guys were doing some email campaigns recently, good for you guys, that's what will give your "coin" value, REAL WORLD ADOPTION!

The only reason Bitcoin may survive is the services and business that's sprung up around it.  That is what the team AND the community need to work on.  Once that happens, the price will take care of itself! 

Don't you guys get it?  Price is irrelevant at this point, it's about getting acceptance, the ability to actually spend what you hold, what's the point in holding "money" forever?  It needs to be spent to create circulation, not stacked away as a POS (I still call it piece of s***) regardless 

Isn't the point of UTC as a "CURRENCY"?  Why turn full POS and stop people putting coins into circulation, it's like cutting off your nose to spite your face is it not?  Is this reasoned enough for now or would you like me to continue, I could go on all day typing nothing.  Yes, it does look that POS benefits no one except the large holders, explain to me how it doesn't? explain to me how it helps the circulation and spending of UTC to become an actual usable currency by going POS?

@Richardminer don't ever accuse me of running away, you can believe whatever the heck you want.  POS still only benefits the large holders of UTC if it is un-minable, but clearly logic isn't part of what you work with.  If I was "running away" you wouldn't have been writing that post!

[RichardMiner]

hmmmmm flobdeth thanks for that answer but they are not answers on all of my specific questions.
Can I still receive those answers with good arguments and proof please....?

About this last anwers from you... i have to read it carefully again and again because I don't see really any logic in it now.
Please give me some time to understand it ... Maybe I am not as smart as you are  

And indeed, you are not running away so I can see your answer with good arguments and proof very soon. Thank you !

[allyouracid]

Are the devs really thinking of going POS
POS/POW together is a good idea, bot going 100% POS will be the end of UTC!!!

When you read the last posts, you'll notice that we've gone one step further, already. We're beyond the point of just stating "this will be the end!!!!!11", we're already discussing our concerns why or why not this might be the case.