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

[Real1Guy]

help me reopen this pool, lets kill this block together! Bring in the Hash power!
http://ultra.coinsnipers.com/

[ozkraut]

https://cryptsy.freshdesk.com/support/discussions/topics/75770

keep commenting on UTC request on cryptsy if we get enough likes and comments they will add it then we will see MOOOOOOOOOOOON

Done just now  agree. Critical mass and SPEEEEED is needed. Crypto-trade has just over 500 users logged and it runs like a 8086 loading wordperfect

[RobinHood27]

help me reopen this pool, lets kill this block together! Bring in the Hash power!
http://ultra.coinsnipers.com/

Well, i support u man, serious coins have many working pools!!! i will contribute with my cpu i dont have much..
people SUPPORT!

[metstijl]

If you cant answer that question I suggest you to play runescape and buy 1000 sharks.

[grimoir]

What is the currenct diff?

[conf]

Difficulty 11.22103355

[imginy]

Keep up the good work UTC devs 

[funsponge]

we need to spread the word on twitter - get twittering guys #ultracoin #UTC

[lovebit]

So how many of the "I won't dump" guys sold their coins at 10x the price they paid for them? 

Anyway, I'm up 400 coins and 0.15 BTC and I didn't send in much. The action was entirely predictable. Now I'll hodl and see what happens in the coming days and weeks.

I've not sold any of mine - not for a long time

[funsponge]

WHY WOULD YOU SELL ON THE FIRST DAY?? UTC GOING TO $2

[noobyonekenobi]

Btc-E next stop?

 

[lemfuture]

WHY WOULD YOU SELL ON THE FIRST DAY?? UTC GOING TO $2

how you know?

[droideggs]

this coin is going off. i'm selling only a small portion but the majority I'm holding. this coin has long term viability. count on it.

[lemfuture]

so whose leaving his wallet online for the whole year?

[Protagonus]

WHY WOULD YOU SELL ON THE FIRST DAY?? UTC GOING TO $2

how you know?

One way would be to compare parities (not party  ) with a similar established coin

LTC - 84m coin, 2:30 sec blocks, 50 coins, hashing factor Scrypt 1, current price $20.00 +/-
UTC- 100m coin, :30 sec blocks, 50 coins, hashing factor Scrypt Jane 0.75 +/-, current price $0.35 +/-,


So,  (1.19 more coins <multiplied by> 5 times faster blocks <multiplied by> 1 same reward <multiplied by> 0.75 hash factor) <divided by> current LTC price <=> parity of $4.48 for UTC (current price)
(1.19x5x1x0.75)/20=4.48

LTC peak of 50.00 +/- would approximate to a UTC  parity value of; $11.20 for UTC
(1.19x5x1x0.75)/50=11.20


If we are to assume acceptance of the coin UTC;  then $4.48 is entirely possible with LTC in 20 range.  If we are to assume LTC goes up (which is to assume BTC will go up); then we can actually exceed Bumfaces' stated $10.00 target.  His target is not unrealistic in any way.  Obviously UTC, still very new and would need some time to reach parity price;  so I'm not saying $4.48 UTC tomorrow or anything.

time will tell

[lemfuture]

WHY WOULD YOU SELL ON THE FIRST DAY?? UTC GOING TO $2

how you know?

One way would be to compare parities (not party  ) with a similar established coin

LTC - 84m coin, 2:30 sec blocks, 50 coins, hashing factor Scrypt 1, current price $20.00 +/-
UTC- 100m coin, :30 sec blocks, 50 coins, hashing factor Scrypt Jane 0.75 +/-, current price $0.35 +/-,


So,  (1.19 more coins <multiplied by> 5 times faster blocks <multiplied by> 1 same reward <multiplied by> 0.75 hash factor) <divided by> current LTC price <=> parity of $4.48 for UTC (current price)
(1.19x5x1x0.75)/20=4.48

LTC peak of 50.00 +/- would approximate to a UTC  parity value of; $11.20 for UTC
(1.19x5x1x0.75)/50=11.20


If we are to assume acceptance of the coin UTC;  then $4.48 is entirely possible with LTC in 20 range.  If we are to assume LTC goes up (which is to assume BTC will go up); then we can actually exceed Bumfaces' stated $10.00 target.  His target is not unrealistic in any way.  Obviously UTC, still very new and would need some time to reach parity price;  so I'm not saying $4.48 UTC tomorrow or anything.

time will tell

good math. though it doesnt apply in market, especially lots of new coins with unique features are popping out

[Protagonus]

WHY WOULD YOU SELL ON THE FIRST DAY?? UTC GOING TO $2

how you know?

One way would be to compare parities (not party  ) with a similar established coin

LTC - 84m coin, 2:30 sec blocks, 50 coins, hashing factor Scrypt 1, current price $20.00 +/-
UTC- 100m coin, :30 sec blocks, 50 coins, hashing factor Scrypt Jane 0.75 +/-, current price $0.35 +/-,


So,  (1.19 more coins <multiplied by> 5 times faster blocks <multiplied by> 1 same reward <multiplied by> 0.75 hash factor) <divided by> current LTC price <=> parity of $4.48 for UTC (current price)
(1.19x5x1x0.75)/20=4.48

LTC peak of 50.00 +/- would approximate to a UTC  parity value of; $11.20 for UTC
(1.19x5x1x0.75)/50=11.20


If we are to assume acceptance of the coin UTC;  then $4.48 is entirely possible with LTC in 20 range.  If we are to assume LTC goes up (which is to assume BTC will go up); then we can actually exceed Bumfaces' stated $10.00 target.  His target is not unrealistic in any way.  Obviously UTC, still very new and would need some time to reach parity price;  so I'm not saying $4.48 UTC tomorrow or anything.

time will tell

good math. though it doesnt apply in market, especially lots of new coins with unique features are popping out

Satoshi may have it explained it best a while ago;

Excellent analysis, xc.

A rational market price for something that is expected to increase in value will already reflect the present value of the expected future increases.  In your head, you do a probability estimate balancing the odds that it keeps increasing.

In the absence of a market to establish the price, NewLibertyStandard's estimate based on production cost is a good guess and a helpful service (thanks).  The price of any commodity tends to gravitate toward the production cost.  If the price is below cost, then production slows down.  If the price is above cost, profit can be made by generating and selling more.  At the same time, the increased production would increase the difficulty, pushing the cost of generating towards the price.

In later years, when new coin generation is a small percentage of the existing supply, market price will dictate the cost of production more than the other way around.

At the moment, generation effort is rapidly increasing, suggesting people are estimating the present value to be higher than the current cost of production.

All of these new altcoins follow this "absence of market" stage and hence "The price of any commodity tends to gravitate toward the production cost.  If the price is below cost, then production slows down."
Whereas BTC, LTC and a couple others have reached the "later years" period.   With all the altcoins, you see many perpetually stuck in the early production cost / value stage and never get to a market driven stage.  This is due, in part, to greedy devs and miners looking only at daily returns.  

I do believe the parties involved with UTC plan to reach the market driven stage; as well, POS helps incentivize reaching the market stage too.

[The Koolio]

much thanks to the community for not dumping any big amounts.... we may be able to follow vertcoin to dollar heaven

[dcgirl]

WHY WOULD YOU SELL ON THE FIRST DAY?? UTC GOING TO $2

how you know?

One way would be to compare parities (not party  ) with a similar established coin

LTC - 84m coin, 2:30 sec blocks, 50 coins, hashing factor Scrypt 1, current price $20.00 +/-
UTC- 100m coin, :30 sec blocks, 50 coins, hashing factor Scrypt Jane 0.75 +/-, current price $0.35 +/-,


So,  (1.19 more coins <multiplied by> 5 times faster blocks <multiplied by> 1 same reward <multiplied by> 0.75 hash factor) <divided by> current LTC price <=> parity of $4.48 for UTC (current price)
(1.19x5x1x0.75)/20=4.48

LTC peak of 50.00 +/- would approximate to a UTC  parity value of; $11.20 for UTC
(1.19x5x1x0.75)/50=11.20


If we are to assume acceptance of the coin UTC;  then $4.48 is entirely possible with LTC in 20 range.  If we are to assume LTC goes up (which is to assume BTC will go up); then we can actually exceed Bumfaces' stated $10.00 target.  His target is not unrealistic in any way.  Obviously UTC, still very new and would need some time to reach parity price;  so I'm not saying $4.48 UTC tomorrow or anything.

time will tell

To reach these numbers, this coin needs to be promoted (outside of the btc-e community). I haven't seen much of that. Devs and miners often underestimate the importance of community building and promotion. Case in point - @Vertcoin has 31,900 twitter followers. How many does Ultracoin have?

[tabnk]

UTC is a VERY SMALL community here. Didn't expect DUMP coin from them either.

much thanks to the community for not dumping any big amounts.... we may be able to follow vertcoin to dollar heaven