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

[red5standingby]

100utc.

[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.

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.

My bad, I was assuming something else in the begining. Please accept my excuses.
So you've been purchasing in excess of $16k in UTC lately? -You must have a hell of a disposable income, but don't put too many eggs in the same basket.
Much luck, many coins and wow!

[bitbd83]

why don't we give some buy support to UTC at mintpal.com

[untalented]

you mean pump ? this is not good for coin.

[pieterjanvh]

why don't we give some buy support to UTC at mintpal.com

It will need all the support it can get when crypto trade opens it's withdrawals

[red5standingby]

Well I'd be glad to pay you Tuesday for a bitcoin today!

[bitbd83]

you mean pump ? this is not good for coin.

I don't want to say PUMP , I hate P&D also. I just want to say it is very undervalued like others BC, MAX, VTC. So if owe this coin then u make some buy and deposit it on ur wallet for future use---that is my point.

[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.  

The coin age is a year?? gtfo. gains by day-trading and trading on pumps and dumps far outweigh any interest gained. Small measure of success, unless you are a huge bagholder, when trading is no longer an option cuz bagholders only create walls, intentional or not.

From the github:

unsigned int nStakeMinAge = 60 * 60 * 24 * 365; // minimum age for coin age
unsigned int nStakeMaxAge = 60 * 60 * 24 * 730; // stake age of full weight
unsigned int nStakeTargetSpacing = 30; //  20 second block spacing

and....


// ppcoin: miner's coin stake is rewarded based on coin age spent (coin-days)
int64 GetProofOfStakeReward(int64 nCoinAge)
{
    static int64 nRewardCoinYear = 20 * CENT;  // creation amount per coin-year
    int64 nSubsidy = nCoinAge * 33 / (365 * 33 + * nRewardCoinYear;
    if (fDebug && GetBoolArg("-printcreation"))
        printf("GetProofOfStakeReward(): create=%s nCoinAge=%"PRI64d"\n", FormatMoney(nSubsidy).c_str(), nCoinAge);
    return nSubsidy;
}

static const int64 nTargetTimespan = 30 * 60;  // 6 hours (30mins now)
static const int64 nTargetSpacingWorkMax = 12 * nStakeTargetSpacing; // 2-hour

[bitbd83]

why don't we give some buy support to UTC at mintpal.com

It will need all the support it can get when crypto trade opens it's withdrawals

CT announced earlier today at their site & tweet , they will make withdrawn manually.

[pieterjanvh]

why don't we give some buy support to UTC at mintpal.com

It will need all the support it can get when crypto trade opens it's withdrawals

CT announced earlier today at their site & tweet , they will make withdrawn manually.

Yep, and when they do there will be a lot of dumping!

[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.

My bad, I was assuming something else in the begining. Please accept my excuses.
So you've been purchasing in excess of $16k in UTC lately? -You must have a hell of a disposable income, but don't put too many eggs in the same basket.
Much luck, many coins and wow!

no sweat. I poured in my savings so dont have $16k every week to buy some unfortunately  ;-)

[bitbd83]

Huge buy support is restoring in mintpal ...........

[xwebnetwork]

Anybody else have any luck withdrawing from CT? I cannot seem to log in, unless I have misunderstood them saying we can process manual withdrawals. My credentials are accepted, I just cannot browse to any user areas.

[Jarod1231]

Anybody else have any luck withdrawing from CT? I cannot seem to log in, unless I have misunderstood them saying we can process manual withdrawals. My credentials are accepted, I just cannot browse to any user areas.

I click login, the login window goes through and then nothing changes on the page

[Halofire]

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.  

The coin age is a year?? gtfo. gains by day-trading and trading on pumps and dumps far outweigh any interest gained. Small measure of success, unless you are a huge bagholder, when trading is no longer an option cuz bagholders only create walls, intentional or not.

From the github:

unsigned int nStakeMinAge = 60 * 60 * 24 * 365; // minimum age for coin age
unsigned int nStakeMaxAge = 60 * 60 * 24 * 730; // stake age of full weight
unsigned int nStakeTargetSpacing = 30; //  20 second block spacing

and....


// ppcoin: miner's coin stake is rewarded based on coin age spent (coin-days)
int64 GetProofOfStakeReward(int64 nCoinAge)
{
    static int64 nRewardCoinYear = 20 * CENT;  // creation amount per coin-year
    int64 nSubsidy = nCoinAge * 33 / (365 * 33 + * nRewardCoinYear;
    if (fDebug && GetBoolArg("-printcreation"))
        printf("GetProofOfStakeReward(): create=%s nCoinAge=%"PRI64d"\n", FormatMoney(nSubsidy).c_str(), nCoinAge);
    return nSubsidy;
}

static const int64 nTargetTimespan = 30 * 60;  // 6 hours (30mins now)
static const int64 nTargetSpacingWorkMax = 12 * nStakeTargetSpacing; // 2-hour

I have seen that before, but for me it's impossible to figure out since units aren't labelled for example:

unsigned int nStakeMinAge = 60 * 60 * 24 * 365; // minimum age for coin age
60 seconds * 60 minutes * 24 hours * 365 days = minimum age for coin? thats a number more than a year.

I figure I'm wrong, but I'm not trying to decipher. It should be presented simpler, instead of with all the coding to try and pick through. Goal is to make people want to invest in UTC, and trying to figure out coin-age/POS via what is provided isn't making it easy for them or me to understand.

[NickPortland]

Last Price:
0.00023500

[NewSapUser]

Hi all
I have mined at http://ultra.nitro.org for a 24 hours at 4*280x + 1* 270x at 1400 khsh/s and pool shows that estimated earnings ip 160 UTC, but real earnings is 30 UTC
What could be a reason?

One of my worker 2*280x stats:

 cgminer version 3.7.2 - Started: [2014-02-26 23:54:04]
--------------------------------------------------------------------------------
 (5s):567.1K (avg):585.3Kh/s | A:751616  R:9856  HW:2  WU:531.4/m
 ST: 2  SS: 4  NB: 2814  LW: 35774  GF: 1  RF: 0
 Connected to ultra.nitro.org diff 64 with stratum as user *.*
 Block: 6563cb68...  Diff:8  Started: [23:50:58]  Best share: 1.81M
--------------------------------------------------------------------------------
 [P]ool management [G]PU management ettings [D]isplay options [Q]uit
 GPU 0:  46.0C 2762RPM | 283.1K/293.8Kh/s | A:379520 R:4608 HW:0 WU: 268.7/m I:12
 GPU 1:  52.0C 2918RPM | 282.2K/291.5Kh/s | A:372096 R:5248 HW:2 WU: 262.7/m I:12

[cointradero]

60 seconds = 1 minute * 60 = 1 hour * 24 = 1 day * 365 = 1 year.  so 60*60*24*365 is 1 year.  

[Halofire]

thanks 

[Halofire]

Hi all
I have mined at http://ultra.nitro.org for a 24 hours at 4*280x + 1* 270x at 1400 khsh/s and pool shows that estimated earnings ip 160 UTC, but real earnings is 30 UTC
What could be a reason?

One of my worker 2*280x stats:

 cgminer version 3.7.2 - Started: [2014-02-26 23:54:04]
--------------------------------------------------------------------------------
 (5s):567.1K (avg):585.3Kh/s | A:751616  R:9856  HW:2  WU:531.4/m
 ST: 2  SS: 4  NB: 2814  LW: 35774  GF: 1  RF: 0
 Connected to ultra.nitro.org diff 64 with stratum as user *.*
 Block: 6563cb68...  Diff:8  Started: [23:50:58]  Best share: 1.81M
--------------------------------------------------------------------------------
 [P]ool management [G]PU management ettings [D]isplay options [Q]uit
 GPU 0:  46.0C 2762RPM | 283.1K/293.8Kh/s | A:379520 R:4608 HW:0 WU: 268.7/m I:12
 GPU 1:  52.0C 2918RPM | 282.2K/291.5Kh/s | A:372096 R:5248 HW:2 WU: 262.7/m I:12

you have tooooooo many rejects. you have your --sj-time set correct for utc? If yes, adjust TC to 8192 since intensity is at 12, stock core, stock memclock and go from there.