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

[michaela_elise]

Hey ya'll,

Want to help out an underdog robotics team?
Check out our site and our video.

We are competing in the DARPA Robotics Challenge and are one out of 100's of teams that made it to the semi-finals.
The amazing thing is that we did all this without funding and through volunteer efforts.  To go further we are, however, going to need some funding.

www.gritrobotics.weebly.com
www.gritrobotics.weebly.com/donations.html

http://www.youtube.com/watch?v=7qMNFjcKgLw

Thank you,
Michaela

[mishax1]

Whats all the fuss about 14.1 not working ??   I have 2 rigs running 14.1 and mining perfectly...

[fredeq]

Whats all the fuss about 14.1 not working ??   I have 2 rigs running 14.1 and mining perfectly...

And the plot thickens

[fabietech]

Is there already some news about UTC hitting meby cryptsy or other big exchange!! really need that so it will go to 3 dollar.?

Anybody

[ziggy909]

Hey ya'll,

Want to help out an underdog robotics team?
Check out our site and our video.

We are competing in the DARPA Robotics Challenge and are one out of 100's of teams that made it to the semi-finals.
The amazing thing is that we did all this without funding and through volunteer efforts.  To go further we are, however, going to need some funding.

www.gritrobotics.weebly.com
www.gritrobotics.weebly.com/donations.html

http://www.youtube.com/watch?v=7qMNFjcKgLw

Thank you,
Michaela

how incredibly cool. i love robots.
+1

[skribnod]

Whats all the fuss about 14.1 not working ??   I have 2 rigs running 14.1 and mining perfectly...

+1... I also have 14.1 and running fine. I thought that was a a problem when i started but it was a scrypt error and it was my fault.

[cointradero]

UTC is listed in this guy's midddle term watch list
http://alunacrypto.blogspot.nl/2014/02/how-to-pick-trade-next-profitable-altcoin-bitcoin-daytrading.html

It just shows "Wallet is encrypted and currently unlocked".
Is it minting?

Sure

UTC going to catch vertcoin @ $4

Vertcoin has a 2.5 minute block time which means it's reward should be 5x UTC as payout/day for equivalent hashrates.  hence, at $0.80 cents, UTC will have caught up to Vertcoin.  I don't know Vertcoin's hashrate right now, so I don't know how the mining profit is comparatively, I do know they only get about half scrypt where this one gets 3/4th, so a little bit more conversion will be necessary. 

I'm not saying it has to stop at $0.80 right now, but that's all it would take to be equivalent to VTC in added market cap / day. 

It's a mistake to use logic to predict the price of coins. 90% of the people that end up buying a coin don't mine, and 75% of those people don't understand crypto. The coins that succeed have a strong community, and you build that by publicizing the "real world" benefits of the coin. For UTC, I'd be talking about fast transaction times and the possible 20% interest. People still won't really understand it, but will pay attention.

My comment is more of a reality of how easy or hard it is to get the coins.  If UTC were 4 dollar coins and the same amount of people were mining them, mining UTC would be about 10x more profitable than mining LTC.  That type of mining hashpower inequality never actually happens in the real world as there are enough miners willing to switch over that the hashrate goes up making the value of the coin = mining support.  This continues until another coin becomes more profitable to mine. 

In the short-term, price increases are driven by market interest and perceived higher value.  I'm only pointing out that price increases will be confirmed with hash power and that hash power is only as consistent as mining profitability is maintained.  If VTC is more profitable to mine right now, then miners will go there as traders are there and around and around the circle we go.   Trading and mining are complimentary and grow hand in hand.  If you see one increasing without the other, price is going to go down. 

[michaela_elise]

Hey ya'll,

Want to help out an underdog robotics team?
Check out our site and our video.

We are competing in the DARPA Robotics Challenge and are one out of 100's of teams that made it to the semi-finals.
The amazing thing is that we did all this without funding and through volunteer efforts.  To go further we are, however, going to need some funding.

www.gritrobotics.weebly.com
www.gritrobotics.weebly.com/donations.html

http://www.youtube.com/watch?v=7qMNFjcKgLw

Thank you,
Michaela

how incredibly cool. i love robots.
+1

Feel free to help spread the word.  Make UTC the official sponsor.  Anything and everything helps!

[chickenliver503]

are there any nodes my wallet wont sync..

[brndnmcmns]

are there any nodes my wallet wont sync..

yep, it just takes a bit, give it time.

[funsponge]

do we know how many wallets have been downloaded? after 3 weeks Vertcoin has 40,000 downloaded - if UTC has around 15,000 now I would be happy

[chickenliver503]

are there any nodes my wallet wont sync..

yep, it just takes a bit, give it time.

i have no active connections it wont sync at all

[fast11]

please anyone have any instructions on how I turn on the POS?

instructions from the first page:

Proof of Stake explanation

20% interest per year if you

1. have utc in wallet
2. don't spend it during that year
3. have wallet online all year
4. have wallet unlocked for minting, do this like so:
    - Open debug window, then console, then type: 'walletpassphrase' yourpassword '999999999' TRUE

I have seen this post like 10x it doesn't help.

I need instructions on how I unlock the wallet for minting not an explanation of POS.

Step 4 from above:  In your QT wallet on the top right;  there is a "Debug" button.  A window will pop up where you can now click "Console".   This will give you a command prompt window where you can enter commands (help, gethashespersec, etc).  Now, in the command prompt enter ------  walletpassphrase reallytoughpassword 99999999 True  .
Above, walletpassphrase should be followed (after a space) by your wallet password (passphrase).   The number you enter (9999999) is the amount of seconds that the wallet will be unlocked;  if you close the wallet this will be reset.  

While your wallet is online (3.) and unlocked (4.) and you have unspet / moved coins (2);  you are ready for POS rewards.  

A final way to check that you have successfully unlocked the wallet correctly;   Hover your mouse pointer over the "locked" icon (at the bottom right) of your wallet.  If you entered correctly;  it should say "Encrypted and Unlocked".

I have tried the above but I am getting error message "Method not found (code -32601)".

Any ideas? Thank you!

[bcpete]

who the F is mvaessen?

[Toxic2040]

please anyone have any instructions on how I turn on the POS?

instructions from the first page:

Proof of Stake explanation

20% interest per year if you

1. have utc in wallet
2. don't spend it during that year
3. have wallet online all year
4. have wallet unlocked for minting, do this like so:
    - Open debug window, then console, then type: 'walletpassphrase' yourpassword '999999999' TRUE

I have seen this post like 10x it doesn't help.

I need instructions on how I unlock the wallet for minting not an explanation of POS.

Step 4 from above:  In your QT wallet on the top right;  there is a "Debug" button.  A window will pop up where you can now click "Console".   This will give you a command prompt window where you can enter commands (help, gethashespersec, etc).  Now, in the command prompt enter ------  walletpassphrase reallytoughpassword 99999999 True  .
Above, walletpassphrase should be followed (after a space) by your wallet password (passphrase).   The number you enter (9999999) is the amount of seconds that the wallet will be unlocked;  if you close the wallet this will be reset.  

While your wallet is online (3.) and unlocked (4.) and you have unspet / moved coins (2);  you are ready for POS rewards.  

A final way to check that you have successfully unlocked the wallet correctly;   Hover your mouse pointer over the "locked" icon (at the bottom right) of your wallet.  If you entered correctly;  it should say "Encrypted and Unlocked".

I have tried the above but I am getting error message "Method not found (code -32601)".

Any ideas? Thank you!

walletpassphrase <yourpassphrase> '999999999' true

I had same problem using 'TRUE' or 'True'. I used all lower case for 'true' and it worked fine. Hope this helps.

[weblog]

It could be usefull to add UTC there : http://cryptobourse.com/

[fast11]

please anyone have any instructions on how I turn on the POS?

instructions from the first page:

Proof of Stake explanation

20% interest per year if you

1. have utc in wallet
2. don't spend it during that year
3. have wallet online all year
4. have wallet unlocked for minting, do this like so:
    - Open debug window, then console, then type: 'walletpassphrase' yourpassword '999999999' TRUE

I have seen this post like 10x it doesn't help.

I need instructions on how I unlock the wallet for minting not an explanation of POS.

Step 4 from above:  In your QT wallet on the top right;  there is a "Debug" button.  A window will pop up where you can now click "Console".   This will give you a command prompt window where you can enter commands (help, gethashespersec, etc).  Now, in the command prompt enter ------  walletpassphrase reallytoughpassword 99999999 True  .
Above, walletpassphrase should be followed (after a space) by your wallet password (passphrase).   The number you enter (9999999) is the amount of seconds that the wallet will be unlocked;  if you close the wallet this will be reset.  

While your wallet is online (3.) and unlocked (4.) and you have unspet / moved coins (2);  you are ready for POS rewards.  

A final way to check that you have successfully unlocked the wallet correctly;   Hover your mouse pointer over the "locked" icon (at the bottom right) of your wallet.  If you entered correctly;  it should say "Encrypted and Unlocked".

I have tried the above but I am getting error message "Method not found (code -32601)".

Any ideas? Thank you!

walletpassphrase <yourpassphrase> '999999999' true

I had same problem using 'TRUE' or 'True'. I used all lower case for 'true' and it worked fine. Hope this helps.

It worked. Thanks for the prompt reply.

[pieterjanvh]

Yeah bumface really needs to edit the main post... That "TRUE" needs to be "true", it has confused a lot of people...

[bcpete]

who the F is mvaessen?

[kayomani]

are there any nodes my wallet wont sync..

yep, it just takes a bit, give it time.

i have no active connections it wont sync at all

See my last post, I put up a static node.  Has nearly 200 folks connected currently.