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

[lemfuture]

I am a shareholder too, i will not be selling im holding my coins, furthermore when this hits exchange im looking to buy more. This is very early days and big things are coming to ULTRA watch this space.

if everyone holds, how is the coin value gonna go up?

[tanalith]

I am a shareholder too, i will not be selling im holding my coins, furthermore when this hits exchange im looking to buy more. This is very early days and big things are coming to ULTRA watch this space.

if everyone holds, how is the coin value gonna go up?

with transactions from miners selling their utc

[xtc_112]

crypto works on supply and demand, clearly there is already huge demand for this coin. the less people who sell the more scarce it is hence prices will increase. People who do sell will set the standard where it should be i mean look at VERTCOIN it has a similar amount of coins mined at just over 1.4million yet has smaller support and backing than UTC but the coin value today is sitting at $4. If that can hit 4 dollars then i dont even want to think about what UTC will hit

[bumface]

I asked this question before, but I didn't receive an answer:

The OP states that selling stakes was to be done to make it more fair for traders to compete with big miners who have an advantage at the launch of a coin.  

How does the philosophy fit with only selling to 38 individuals who collectively own 11+ days worth of mined coins?  You've basically created a trading monopoly far bigger than any miner could have accomplished.  

I'm not trolling, I'm still trying to get some answers on how this stakeholder business was good for the coin long term.  The only clear advantage is for the coin creators and potentially for the stakeholders if the value goes up.  I feel by trying to thwart large miners, you've potentially only catered to large traders that no longer need to buy their coins from miners.

this is why we delayd the trading to the 7th, to let miners catch up to even it out a bit, however then i received a message that freshmarket had implemented UTC.

[xtc_112]

FRESHMARKET trading UTC is not really effecting anything. the volumes are tiny no one trusts that little trade. any big volumes and they could just dissapear hence 7 Feb onwards when it hits other platforms is when it will see demand

[bumface]

This coin isnt even profitable to mine anymore. Congrats on that truly enormous premine.

It STILL is profitable, but I don't know for how long still, price is dropping pretty fast.




How much was the premine btw?

Yeah, difficulty up and price down. About same profitability as LTC which is abysmal.

Premine was an incredible, truly unbelievable... 10%.

premine was 2%of the total, and i have 0.1% of the total coins personally

[bumface]

FRESHMARKET trading UTC is not really effecting anything. the volumes are tiny no one trusts that little trade. any big volumes and they could just dissapear hence 7 Feb onwards when it hits other platforms is when it will see demand

yes that correct,or maybe people will buy them out to arbitrage to cryptotrade

[porcupine87]

great coin. I needed nearly 5min to get to know what block time this has. What do people want to know about an altcoin? What PoW, how many coins total, what retarget time, what block time, how many coins at the moment, how many coins per block, what block halving. But some people don't archive even this... The basics of the basics...

[cointradero]

I asked this question before, but I didn't receive an answer:

The OP states that selling stakes was to be done to make it more fair for traders to compete with big miners who have an advantage at the launch of a coin.  

How does the philosophy fit with only selling to 38 individuals who collectively own 11+ days worth of mined coins?  You've basically created a trading monopoly far bigger than any miner could have accomplished.  

I'm not trolling, I'm still trying to get some answers on how this stakeholder business was good for the coin long term.  The only clear advantage is for the coin creators and potentially for the stakeholders if the value goes up.  I feel by trying to thwart large miners, you've potentially only catered to large traders that no longer need to buy their coins from miners.

this is why we delayd the trading to the 7th, to let miners catch up to even it out a bit, however then i received a message that freshmarket had implemented UTC.

Still though, 7 days of mining will leave ALL miners (500+ of us) with about 2/3rds of what 38 people own.  In the long run, it won't be an issue I suppose, but I think it was shortsighted to pay it all out in lump sums upfront.  I know that was the deal, so that's how it was handled, but I don't see how this benefits anyone mining or trading that didn't get in on the premine purchase for at least two months.  Most alt coins barely have interest that last that long right now.  It creates a very real sense of selling pressure whether they hold or not.  

It isn't like anyone really believes someone when they say they're going to hold until it's 3 dollars on here.  If the price drops from $0.19 to .05, people panic.  It doesn't matter if there is reason for it, they just do.  


The point of my initial argument here was that you specifically stated this was meant to even the playing field between miners and traders, though.  I don't understand how selling to 38 people evened out anything.    

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[bumface]

I asked this question before, but I didn't receive an answer:

The OP states that selling stakes was to be done to make it more fair for traders to compete with big miners who have an advantage at the launch of a coin.  

How does the philosophy fit with only selling to 38 individuals who collectively own 11+ days worth of mined coins?  You've basically created a trading monopoly far bigger than any miner could have accomplished.  

I'm not trolling, I'm still trying to get some answers on how this stakeholder business was good for the coin long term.  The only clear advantage is for the coin creators and potentially for the stakeholders if the value goes up.  I feel by trying to thwart large miners, you've potentially only catered to large traders that no longer need to buy their coins from miners.

this is why we delayd the trading to the 7th, to let miners catch up to even it out a bit, however then i received a message that freshmarket had implemented UTC.

Still though, 7 days of mining will leave ALL miners (500+ of us) with about 2/3rds of what 38 people own.  In the long run, it won't be an issue I suppose, but I think it was shortsighted to pay it all out in lump sums upfront.  I know that was the deal, so that's how it was handled, but I don't see how this benefits anyone mining or trading that didn't get in on the premine purchase for at least two months.  Most alt coins barely have interest that last that long right now.  It creates a very real sense of selling pressure whether they hold or not.  

It isn't like anyone really believes someone when they say they're going to hold until it's 3 dollars on here.  If the price drops from $0.19 to .05, people panic.  It doesn't matter if there is reason for it, they just do.  


The point of my initial argument here was that you specifically stated this was meant to even the playing field between miners and traders, though.  I don't understand how selling to 38 people evened out anything.    

yeah we chose to delay 7 days, but its very hard to predict howmany people will mine.some larger farms had told us they were interested, so we did oour best to make an estimate of how long it would take to mine 2 million.The current total is 2.432.799 coins, so miners have mined 432.799,however most of the stakeholder say they are in it long term.Becasue they own that coin we can only kindly ask that they sell responsible and not upset a delicate new market.Ofcourse the risk is also directly tied into demand,if the demand is huge then people can dump.It will be very interesting to see what happens on crypto trade.....

[xtc_112]

bumface i still think much will not happen on crypto trade. its a small trade place the volumes are low, if you can get this onto the bigger sites then it will be v interesting

[sydeu]

bumface i still think much will not happen on crypto trade. its a small trade place the volumes are low, if you can get this onto the bigger sites then it will be v interesting

Get in on coinmarket/cryptsy and people will trade. Some unknown small exchange won't get anyone trading.

[Mika67]

@average Indie price I'm looking to buy 2or3 Btc > utc.

Pm's r welcome. 

chrs,

[Zombie123]

I asked this question before, but I didn't receive an answer:

The OP states that selling stakes was to be done to make it more fair for traders to compete with big miners who have an advantage at the launch of a coin.  

How does the philosophy fit with only selling to 38 individuals who collectively own 11+ days worth of mined coins?  You've basically created a trading monopoly far bigger than any miner could have accomplished.  

I'm not trolling, I'm still trying to get some answers on how this stakeholder business was good for the coin long term.  The only clear advantage is for the coin creators and potentially for the stakeholders if the value goes up.  I feel by trying to thwart large miners, you've potentially only catered to large traders that no longer need to buy their coins from miners.

this is why we delayd the trading to the 7th, to let miners catch up to even it out a bit, however then i received a message that freshmarket had implemented UTC.

Still though, 7 days of mining will leave ALL miners (500+ of us) with about 2/3rds of what 38 people own.  In the long run, it won't be an issue I suppose, but I think it was shortsighted to pay it all out in lump sums upfront.  I know that was the deal, so that's how it was handled, but I don't see how this benefits anyone mining or trading that didn't get in on the premine purchase for at least two months.  Most alt coins barely have interest that last that long right now.  It creates a very real sense of selling pressure whether they hold or not.  

It isn't like anyone really believes someone when they say they're going to hold until it's 3 dollars on here.  If the price drops from $0.19 to .05, people panic.  It doesn't matter if there is reason for it, they just do.  


The point of my initial argument here was that you specifically stated this was meant to even the playing field between miners and traders, though.  I don't understand how selling to 38 people evened out anything.    

yeah we chose to delay 7 days, but its very hard to predict howmany people will mine.some larger farms had told us they were interested, so we did oour best to make an estimate of how long it would take to mine 2 million.The current total is 2.432.799 coins, so miners have mined 432.799,however most of the stakeholder say they are in it long term.Becasue they own that coin we can only kindly ask that they sell responsible and not upset a delicate new market.Ofcourse the risk is also directly tied into demand,if the demand is huge then people can dump.It will be very interesting to see what happens on crypto trade.....

Well though I was skeptical initially and I even am right now as I dont like IPO coins. But seeing a developer so involved and patient is really nice. I am mining with two rigs might even put more

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[makemebeat]

Is it way to brutforce pass in wallet? Probably made some mistake when typing, so can't send coins. (I know, I'm fool) There are scripts for bitcoin brutforcing, but where is file like "bitcoind" in ultracoin?

Bruted it. But who fuckin cares.

[sydeu]

Is it way to brutforce pass in wallet? Probably made some mistake when typing, so can't send coins. (I know, I'm fool) There are scripts for bitcoin brutforcing, but where is file like "bitcoind" in ultracoin?

Bruted it. But who fuckin cares.

If you have a pw that can so easily be bruteforced, why have a pw at all?

[makemebeat]

Is it way to brutforce pass in wallet? Probably made some mistake when typing, so can't send coins. (I know, I'm fool) There are scripts for bitcoin brutforcing, but where is file like "bitcoind" in ultracoin?

Bruted it. But who fuckin cares.

If you have a pw that can so easily be bruteforced, why have a pw at all?

It wasn't easy at all. And it was "easy" for me, who knows, what he typed. But with mistake. With two mistakes, as I saw.

[xtc_112]

so whats the most someone has mined?