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

[MasterCATZ]

A question, these are the remaining N-Factors dates:

11 5242880-8388607 36.4 02 / 28 / 14 @ 04:21:20pm UTC 1MB
12 8388608-12582911 49 04 / 06 / 14 @ 02:10:08am UTC 2MB
13 12582912-16777215 48 05 / 24 / 14 @ 03:15:12pm UTC 4MB
14 16777216-33554431 194 07 / 12 / 14 @ 04:20:16am UTC 8MB
15 33554432-41943039 97 01 / 22 / 15 @ 08:40:32am UTC 16MB

My 290 gets around 350 KH/s now and that will be 175 at some point tomorrow after the next change. By the last change my 290 will only be getting ~11 KH/s. I know you still mine the same number of coins but is that still the case even on the last one? Or will the point of stopping mining UTC actually come before that?

don't worry about hash speed

the coins collecting will be the same amount if not more as he miners drop off because they don't like seeing slow hash rates

Hey Bum, sorry for the delay in response.  I've been busy running around ;P.   
With the contest, there was only 1 of the winning words chosen.  Skribnod is the only one whom guessed a winning word.  I ended up giving him first place, but ye,  unfortunately there was only one winner.
I will try to ensure the next quiz will get 3 winners no matter what.

if we knew how many letters at the start would have been better
or
if you had to find a word that meant something

[derBruchpilotPro]

Lets take it easy 4now and have patience with crypto-trade. I hope but also think there is not anything lost for us jet.

If they are gone with our cursed coins, they may have much bad luck. 



From the poloniex FAQ:

Can I do a coin giveaway on Poloniex?

If we've listed the coin and you fund the giveaway, absolutely! Just contact us at poloniex@gmail.com with the details—total amount, amount given per person, and around when you'd like it to go up.

What amount and amount per person would you guys think is appropriate?

100 utc but who's payin?

I can do that with poloniex, but it would be nice to get donations to do that.

[NickPortland]

Lets take it easy 4now and have patience with crypto-trade. I hope but also think there is not anything lost for us jet.

If they are gone with our cursed coins, they may have much bad luck.  



From the poloniex FAQ:

Can I do a coin giveaway on Poloniex?

If we've listed the coin and you fund the giveaway, absolutely! Just contact us at poloniex@gmail.com with the details—total amount, amount given per person, and around when you'd like it to go up.

What amount and amount per person would you guys think is appropriate?

100 utc but who's payin?

I can do that with poloniex, but it would be nice to get donations to do that.

How does the giveaway work anyway?


As far as donations go, this is not really a good time, seeing how most of us have our utcs stuck on Crypto Trade, who knows for how long.

[Halofire]

depending on time zones, UTC N-factor kicks in less than 24 hours.

[derBruchpilotPro]

Lets take it easy 4now and have patience with crypto-trade. I hope but also think there is not anything lost for us jet.

If they are gone with our cursed coins, they may have much bad luck.  



From the poloniex FAQ:

Can I do a coin giveaway on Poloniex?

If we've listed the coin and you fund the giveaway, absolutely! Just contact us at poloniex@gmail.com with the details—total amount, amount given per person, and around when you'd like it to go up.

What amount and amount per person would you guys think is appropriate?

100 utc but who's payin?

I can do that with poloniex, but it would be nice to get donations to do that.

How does the giveaway work anyway?


As far as donations go, this is not really a good time, seeing how most of us have our utcs stuck on Crypto Trade, who knows for how long.

My plan was to initiate the giveaway on poloniex with 100UTC from my wallet, I donate 20UTC from my own.

80 UTC donation from the community, thats another 4 people with each 20 UTC, that shouldn't be a problem?


Or do you think it's generally a bad time to start this?

[NickPortland]

No I meant, how does it actually work? Does poloniex pick randomly a winner or?


About donations, not a bad time, I'm just sayiing many of us don't have any utc to spare, but if you find volunteers then great.

[funsponge]

I have confidence that I will get my $16k worth of UTC back from C-T. But I won't be using there exchange again once I have them safely in my wallet. Their lack of communication has lost all my trust in them. A daily update would have taken them 1-2 minutes to compose. I understand they need to address their security but been honest with your customers is paramount & im afraid they have fallen well short unfortunately.

[eddaviking]

I have confidence that I will get my $16k worth of UTC back from C-T. But I won't be using there exchange again once I have them safely in my wallet. Their lack of communication has lost all my trust in them. A daily update would have taken them 1-2 minutes to compose. I understand they need to address their security but been honest with your customers is paramount & im afraid they have fallen well short unfortunately.

So they have not yet opened their site so we can wdraw the coins? Thought I missed it, because I think it is more than 48 hours.

[derBruchpilotPro]

No I meant, how does it actually work? Does poloniex pick randomly a winner or?


About donations, not a bad time, I'm just sayiing many of us don't have any utc to spare, but if you find volunteers then great.

No there is a giveaway button, we can say every User can have 1 UTC from the giveaway. Thats locked to IP/Username
I guess.

If there are some volunteers to help me, say YEEEHHH, will help!


I will start this before, so everybody can see the giveaway on poloniex to proof I'm not a scammer.

But it would be nice to see that I've support here before I write the mail to poloniex.

[SxC]

YEEEHHH, will help!

[NickPortland]

CT update:

<<The developers have been busy preparing for the audits and safety of user funds during the next phases! Apologies for the delay, but I suspect we're nearly ready to open up for withdrawals now! As stated before, all coins will be there, and will be withdrawable!
>>


Alert everyone you can!!

[azerbaidjan]

I have confidence that I will get my $16k worth of UTC back from C-T. But I won't be using there exchange again once I have them safely in my wallet. Their lack of communication has lost all my trust in them. A daily update would have taken them 1-2 minutes to compose. I understand they need to address their security but been honest with your customers is paramount & im afraid they have fallen well short unfortunately.

WOW, already 3 stakeholders worth 100k UTC each who deposited their bags on an exchange while being fully committed to UTC stability and price increase and blah blah blah?? -Excuse me guys but I think I would not let my coins staying for too long on an exchange especially if I pretend myself being a stakeholder. You obviously did not learn anything from gox recently, now did you?

so, 100k UTC that were most likely acquired for 5 BTC each bag and sold around 16-20k = 28 BTC. You must be really depressed to sell only with a less than 6 multiplication factor. I thought you would at least wait for 20-100 before selling out... Gee this is depressing.

These are signs like those which show that the coin itself has no real future besides a perpetual FTC-like pump and dump scheme, unless of course you could prove me wrong with some good sugar coated declaration of intent I'm going to swallow like kool aid. Come on...

No worries you will recover your funds rapidly, but let's appreciate you crying fool before for the priceless show it represents.

Why I am still mining and bagholding thousands of these things btw? -I'm just wondering.

[pieterjanvh]

CT update:

<<The developers have been busy preparing for the audits and safety of user funds during the next phases! Apologies for the delay, but I suspect we're nearly ready to open up for withdrawals now! As stated before, all coins will be there, and will be withdrawable!
>>


Alert everyone you can!!

Good news

[Jarod1231]

I have confidence that I will get my $16k worth of UTC back from C-T. But I won't be using there exchange again once I have them safely in my wallet. Their lack of communication has lost all my trust in them. A daily update would have taken them 1-2 minutes to compose. I understand they need to address their security but been honest with your customers is paramount & im afraid they have fallen well short unfortunately.

WOW, already 3 stakeholders worth 100k UTC each who deposited their bags on an exchange while being fully committed to UTC stability and price increase and blah blah blah?? -Excuse me guys but I think I would not let my coins staying for too long on an exchange especially if I pretend myself being a stakeholder. You obviously did not learn anything from gox recently, now did you?

so, 100k UTC that were most likely acquired for 5 BTC each bag and sold around 16-20k = 28 BTC. You must be really depressed to sell only with a less than 6 multiplication factor. I thought you would at least wait for 20-100 before selling out... Gee this is depressing.

These are signs like those which show that the coin itself has no real future besides a perpetual FTC-like pump and dump scheme, unless of course you could prove me wrong with some good sugar coated declaration of intent I'm going to swallow like kool aid. Come on...

No worries you will recover your funds rapidly, but let's appreciate you crying fool before for the priceless show it represents.

Why I am still mining and bagholding thousands of these things btw? -I'm just wondering.

The problem with your statement is that UTC has a 33% supply compared to FTC, combined with ASIC resistance and POS ... FTC offers nothing special other than being a LTC clone

[cointradero]

I have confidence that I will get my $16k worth of UTC back from C-T. But I won't be using there exchange again once I have them safely in my wallet. Their lack of communication has lost all my trust in them. A daily update would have taken them 1-2 minutes to compose. I understand they need to address their security but been honest with your customers is paramount & im afraid they have fallen well short unfortunately.

WOW, already 3 stakeholders worth 100k UTC each who deposited their bags on an exchange while being fully committed to UTC stability and price increase and blah blah blah?? -Excuse me guys but I think I would not let my coins staying for too long on an exchange especially if I pretend myself being a stakeholder. You obviously did not learn anything from gox recently, now did you?

so, 100k UTC that were most likely acquired for 5 BTC each bag and sold around 16-20k = 28 BTC. You must be really depressed to sell only with a less than 6 multiplication factor. I thought you would at least wait for 20-100 before selling out... Gee this is depressing.

These are signs like those which show that the coin itself has no real future besides a perpetual FTC-like pump and dump scheme, unless of course you could prove me wrong with some good sugar coated declaration of intent I'm going to swallow like kool aid. Come on...

No worries you will recover your funds rapidly, but let's appreciate you crying fool before for the priceless show it represents.

Why I am still mining and bagholding thousands of these things btw? -I'm just wondering.

Well, despite feeling about the same as you as far as the stakeholder issues go, You can either sell low now, or wait for the percentage of coins purchased at .00005 to be a dilute % of the total coins, which should result in a higher value as the rest will have been obtained at significantly higher prices.  I haven't been thrilled with the promise of progress either when community members seem to be shouldering the bulk of the work, but to that regard, I think they've been doing a good job of it.  

I had harped about the explanation of PoS not being clear many times, but after reading the code and realizing that they literally meant you can't move your coins for one year before they can be staked for PoS mining, I wish they would consider changing their PoS implementation to encourage more short-term holding of the coin.  If staked coins could generate interest every month instead of every year, more people would be inclined to hold, which would also increase the price creating a positive feedback loop.  As is right now, most altcoins haven't even been around a year and it's anyone's guess whether support will still exist for any given coin a year from now.  The PoS component maybe should have it's own N-type factor implementation where the interest period is extended to longer durations as the coin ages.  

That's a complete tangent from what you were talking about, but I understand your frustration but I am willing to bet selling now isn't in your best interests.  

[red5standingby]

YEEEHHH, will help!

I can donate a small amount.

[Wirly]

Right now miners are the ones who are aware of UTC more than the average trader or the general public. Miners like to mine and also need to pay bills with the coins they generate. The fact that there have been few viable options to sell UTC coins on a reliable exchange means the value of the coin will drop as soon as a many miners can sell them...basic common sense. The amount of coins being sold is low and the buy support of course is even less as the coin is new. Give it some time, as the coin generates awareness and people understand the complexity of a scrypt-jane coin more traders will buy and the coin will not lose value so often from miners dumping it to pay bills.

[cointradero]

Right now miners are the ones who are aware of UTC more than the average trader or the general public. Miners like to mine and also need to pay bills with the coins they generate. The fact that there have been few viable options to sell UTC coins on a reliable exchange means the value of the coin will drop as soon as a many miners can sell them...basic common sense. The amount of coins being sold is low and the buy support of course is even less as the coin is new. Give it some time, as the coin generates awareness and people understand the complexity of a scrypt-jane coin more traders will buy and the coin will not lose value so often from miners dumping it to pay bills.

I am a miner and I don't sell coins to pay bills.  I mine to accumulate desirable coins at considerably cheaper rates than they trade at.  That's it.  If I feel the coin will have more value in the future, I don't sell it until then.  I don't know why their is this assumption that all miners are living "paycheck to paycheck" and have to sell every coin they mine just to eat the next day. 

[cace]

Right now miners are the ones who are aware of UTC more than the average trader or the general public. Miners like to mine and also need to pay bills with the coins they generate. The fact that there have been few viable options to sell UTC coins on a reliable exchange means the value of the coin will drop as soon as a many miners can sell them...basic common sense. The amount of coins being sold is low and the buy support of course is even less as the coin is new. Give it some time, as the coin generates awareness and people understand the complexity of a scrypt-jane coin more traders will buy and the coin will not lose value so often from miners dumping it to pay bills.

I am a miner and I don't sell coins to pay bills.  I mine to accumulate desirable coins at considerably cheaper rates than they trade at.  That's it.  If I feel the coin will have more value in the future, I don't sell it until then.  I don't know why their is this assumption that all miners are living "paycheck to paycheck" and have to sell every coin they mine just to eat the next day. 

+1

[funsponge]

I have confidence that I will get my $16k worth of UTC back from C-T. But I won't be using there exchange again once I have them safely in my wallet. Their lack of communication has lost all my trust in them. A daily update would have taken them 1-2 minutes to compose. I understand they need to address their security but been honest with your customers is paramount & im afraid they have fallen well short unfortunately.

WOW, already 3 stakeholders worth 100k UTC each who deposited their bags on an exchange while being fully committed to UTC stability and price increase and blah blah blah?? -Excuse me guys but I think I would not let my coins staying for too long on an exchange especially if I pretend myself being a stakeholder. You obviously did not learn anything from gox recently, now did you?

so, 100k UTC that were most likely acquired for 5 BTC each bag and sold around 16-20k = 28 BTC. You must be really depressed to sell only with a less than 6 multiplication factor. I thought you would at least wait for 20-100 before selling out... Gee this is depressing.

These are signs like those which show that the coin itself has no real future besides a perpetual FTC-like pump and dump scheme, unless of course you could prove me wrong with some good sugar coated declaration of intent I'm going to swallow like kool aid. Come on...

No worries you will recover your funds rapidly, but let's appreciate you crying fool before for the priceless show it represents.

Why I am still mining and bagholding thousands of these things btw? -I'm just wondering.

Sorry to disappoint you, but my desktop wallet has my stake in it plus extra - i bought $16k worth of UTC in the days leading up to the hack which is why i had so much on C-T, in hindsight i should had moved it to my desktop wallet but didn't, and for the record I was a small stakeholder and didn't purchase a huge amount.

I have much confidence in the coin and have no plans to sell any of my UTC within the next 12 months at least and i will continue to spend my disposable income on buying more during the next year.