[UNO] Unobtanium Info & Discussion - Merge Mine w/BTC! - Update NOW to qt 0.11.5

[IMZ]

It looks like if you catch the voting during a cheap time we could get Unobtanium listed on C-Cex for 0.2 bitcoin or so. Worth it? I don't know. It's not the prettiest exchange, it has a lot of 'junky' coins and very low volume on it's big coins ($25 of Dogecoin, $8 of Litecoin). But some other coins have a few hundred dollars of volume. My guess is that it would increase our daily volume by 0.5-2.0%.

Voting page: https://c-cex.com/?id=vote

C-Cex volume list: http://coinmarketcap.com/exchanges/c-cex/

Hey, Nat! Although I'm no great fan of many-exchanges=good, .2 Btc is only, gee, about 30 Uno, which is 3 Uno from each of 10 community members.

[1714952072]

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[natmccoy]

Yes it's very cheap. I agree that it isn't a major element to be listed on lots of exchanges, at least not the small, relatively unknown exchanges. Getting a solid UNO/CNY pair on a top 5 Chinese exchange would be great, and of course somewhere like bitfinex or bitstamp would be crazy. I would love Poloniex but I don't think it would make much of a difference (unless they added it to margin trading so I could lend my UNO to earn interest on it). Then you have the dozens of obscure exchanges that most of us have never used or even ever visited. My perspective is that it can't be a bad thing. Or, it can only be a bad thing if people store a lot of UNO there and the site has poor security or unscrupulous owners. Though much of the time that these tiny exchanges go under, they do inform users to withdraw first (e.g. Comkort, coin-swap etc.).

The thing is that even these small exchanges have chat boxes and traders looking for currencies to invest their bitcoin into. Also, when people visit the coinmarketcap UNO markets page, more exchanges may just look better. It sort of adds another thread to our web, another tendril out into the cryptocurrency landscape.

I suppose ultimately the question is: Is it worth a one-time cost of $60 to boost our daily volume by 1% and add a thread to our market network?

[BitcoinCharlie]

I would like to be on more of the "high-powered" exchanges as well.  However, I believe that more exposure is better. This seems like a cheap price.

I'm starting a pledge list of donors for this 30 $UNO project:

-BitcoinCharlie 5$UNO

Assuming we move forward, Nat, since you've already been in contact with this group, will you head up getting them paid so that we get listed?

[BitcoinNational]

mccoy
excellent detective work!

wallets
#1 cry cold storage
#2 cry hot wallet
#3 bittrex cold storage

The recent changes at cryptsy sort of make volume a mute point.  All the volume numbers are now basically faked.  But yes I do think finding a bot program to constantly fill the spread with dust and maintain trade activity is a very good idea.  

[MegaMike]

Do people still have the idea that switching to merged mining was a good thing? I should have spoken up back when the discussion was taking place, ofcourse. My main concern was that people mining Bitcoin just use the merged coins as dumpware to be sold at any price, no matter the low. Since I've seen UNO drop in value for quite some time, which is very unlike UNO, I'm worrying I might be right. But I also haven't paid close attention to current affairs and it's been decades since I visited an exchange. Excuse me for hoarding!
Any wise people willing to share their view on this?

[natmccoy]

Do people still have the idea that switching to merged mining was a good thing? I should have spoken up back when the discussion was taking place, ofcourse. My main concern was that people mining Bitcoin just use the merged coins as dumpware to be sold at any price, no matter the low. Since I've seen UNO drop in value for quite some time, which is very unlike UNO, I'm worrying I might be right. But I also haven't paid close attention to current affairs and it's been decades since I visited an exchange. Excuse me for hoarding!
Any wise people willing to share their view on this?

Hey MegaMike. That would make sense at first glance but the two are not related, or are minimally related. For the last 8 months or so we have had average daily exchange volume of ~$150+. We have also been producing a little over 7 UNO per day, which at current prices is $11, so miner dumping could contribute to at most 8% of UNO changing hands each day. (rough math).

February, March and April decline was a correction from the massive Pump in January. July and August decline appears to have been partly natural correction, but largely it was somebody very visibly pushing the price lower. They would dump through buy orders and place large sell walls. It's unclear if it was some disgruntled person cashing out irrationally, or if they were pushing it down quickly to a resistance point to accumulate (which would be ~0.0062 it seems).

Now, for the last 5 weeks we have seen great resistance at 0.006, I'm not saying it's impenetrable, but it has been quite solid. At these prices I could personally purchase all mined coins for the rest of my life, so it will be market-sentiment or whale-manipulation that moves this cargo ship, not mining rewards being dumped.

IMO Merged-mining was a fantastic implementation, we now have the second strongest blockchain out of 600+ cryptocurrencies. Second strongest!

[BitcoinNational]

@MegaMike

Welcome.

Yes.  I was in the "Let's hold off on MM camp" when we started to discuss it.

But UNO was mined by independents for 4/5ths of the max coin count.  

And yes now all remaining coins will be mined by the "ASIC industry" ... but before we hit $10 the rewards per day will already be under 4 unos per day.  It will take 300 years for the industrial ASIC farms to mine that last 20%.  All in all I think it was a smart move to go MM, the gain is security in hash protection and the cost is a minimal daily fee to be part of the largest and strongest POW network, actually the biggest baddest super computer thus created.  Not a bad deal if you ask me.  

[DD7]

Hey there Charlie, like your current idea's. Stick with the Strategy you have at the moment, maybe I can also assist, I just came across this discussion with similar interest's in the guy above. Wondering really "what" happened to UNO never owned any of it. But I do remember alot of hype about it, Also the exchange idea is not a bad one. Pump it up! it will be interesting to see to #CryptoCurrency community band together. This is how you get Sh#t done!  

[natmccoy]

I would like to be on more of the "high-powered" exchanges as well.  However, I believe that more exposure is better. This seems like a cheap price.

I'm starting a pledge list of donors for this 30 $UNO project:

-BitcoinCharlie 5$UNO

Assuming we move forward, Nat, since you've already been in contact with this group, will you head up getting them paid so that we get listed?

I would be happy to handle community funds to get listed at C-Cex but there are a few things to note:

* I haven't been in contact with anyone, I just visited C-Cex for the first time last night and looked at the voting page.

* I need to figure out if funds transfer over between weeks, or how long they take to expire, if ever. This information would help me plan the cheapest way to get listed.

* It is not a system where 1 person pays the site, it is community voting where each vote costs 0.001 bitcoin, so anyone who wants to contribute could just do it themselves. I guess the advantage to having me do it would be that I could carefully shift it barely into the top position at the right time, then return any remaining funds proportional to how much was contributed from each person.

* It could cost more than 30 UNO. Using a price of 0.0065 BTC/UNO, that would be 0.195 BTC, which is entirely possible, but the first and second place coins at the moment are like 0.6 bitcoin and 0.4 bitcoin respectively, so I was basing the price off of finding a cheap spot in a cheap week.

I'll set up a funding address if people would like me to handle it, but anyone interested should think about the points I made, have a look at the voting page and the exchange before making a decision.  

[natmccoy]

@MegaMike

Welcome.

Yes.  I was in the "Let's hold off on MM camp" when we started to discuss it.

But UNO was mined by independents for 4/5ths of the max coin count.  

And yes now all remaining coins will be mined by the "ASIC industry" ... but before we hit $10 the rewards per day will already be under 4 unos per day.  It will take 300 years for the industrial ASIC farms to mine that last 20%.  All in all I think it was a smart move to go MM, the gain is security in hash protection and the cost is a minimal daily fee to be part of the largest and strongest POW network, actually the biggest baddest super computer thus created.  Not a bad deal if you ask me.  

Well said, those are all very important points to the MM topic.

[MegaMike]

Thanks for the replies guys. And for putting things in perspective. Long term the benefits far outweigh any short term effects, if there are even some of those. And we're assured a long term, which is more then I can say for some 

[sirsmokesalot]

The long term is what it was all about. There are dreamers here, and there is a healthy dose of 'real' people here as well. Even the dreamers understand how the Uno network was a drop in the bucket when compared to the amount of potential hash that was/is out there. It would have only been a matter of time before the community would band together and purchase machines to keep the network running (which they pretty much were doing?) and even then, how much hash could some mining company afford to toss out and destroy the competition? If things ever got that nasty with a 51% attack. The 777 Th/s isn't as cheap to come by as 12 Th/s.

In all honesty, i just don't trust the small exchanges for anything more than coins i have little faith in to begin with. No loss if you lose what you thought to be a crap coin anyway. How many people still trade their 'good' coins on the 'good' exchanges?  If we spend a bit more than what is being considered now, maybe that could help get us on an exchange with some type of Chinese currency pairing? I would rather spend money to achieve that goal than to hopefully get listed by voting our way to the top. Also, what if the votes thing isn't as fair as we think it would be? What if they keep the voting window open, for fairness's sake of course. so that the other coins have a chance to catch up and surpass? Get stuck in some four day voting war. Not that i think that will happen, but it isn't that it couldn't happen.

[BitcoinCharlie]

@sirsmokes As always, good points. I did not realise that it was a voting scheme, which could be manipulated / require significant effort. I simply thought we paid a token to get listed. Thought, another exchange? Why not?

I, too, am very pleased with the MM. I think that not only does it help protect from the 51% attack, but that it adds sophistication and credibility to $UNO with such a high hash rate.

Some people always ask why has $UNO not taken off yet. I always remind them that it is not a PND scheme, but a paced endeavour - like running a marathon.  There are forces in the world right now such as NIRP and outright calls for bans on cash that will cause the broader market to seek out alternatives to the fiat world.  It's obvious that the NIRP is designed to steal more wealth from the people and outlawing cash will not allow individuals to be outside the system...

Presented without comment is an interesting article about those matters:

http://www.zerohedge.com/news/2015-09-25/goodbye-100-bill-ex-central-banker-demands-all-high-denomination-banknotes-should-be

[FallingKnife]

In the short term, being legit is difficult.

Remember when PayCoin had a marketcap larger than LTC?  It's way below Uno now. BitBay was once huge. God, the list is so long. It's easy to be a scam for a few months; hard to be legit for 2 years and longer.

[BitcoinNational]

Word.

[DD7]

vive le crypto revolution

[IMZ]

@ MegaMike: I understand MM good; other unrelated factors caused drop. Hoarding? Yah, you just keep hoarding away there. (Halving in about December.)

@ Nat McCoy: yes, thanks for the detective work. And yeh, okay:

BitcoinCharlie 5$UNO
IMZ $5Uno

And yeh okay: 5 Chinese exchanges would be better than a poke in the eye with a sharp stick.

@ Welcome, DD7. Yes, merdeka untuk secrypto2nya!

@ Mr. Transactional: I got my $400 worth of Uno-powered grocery cards yesterday: I bought my daily bread with Uno, and shall henceforth.

[natmccoy]

It would cost about 1.72 bitcoin to pay our way to the top of the BTER voting list, pricey. Anyone know of other Chinese exchanges with pay-to-list options?

What is your Uno-powered grocery card IMZ?

[IMZ]

https://bitcoingiftcards.com.au

First Thought: I mean no disrespect; but I shall puddle along on the principle that merchant development is fundamental.

Anecdote: last year, I was asked by PM to add a vote to get another crypto accepted by these guys -- which I did: IndiaMikeZulu maintains relations with coiners all over the planet.

Then I nagged the same guys to add us. Which they did!

So, I pay with Uno for 'gift cards' -- quite economical -- for an Australian supermarket chain; and henceforth, when I go to town for my fortnightly shop, most of my shopping will be paid for with these cards, paid for with Uno.

This provides that one Uno coiner provides about one Bitcoin volume per month for Uno, and the merchant might even eventually choose to hold some.

[FallingKnife]

I just saw an email from Bittrex with 35 coin delistings, and once again UNO is not on that list.

Notable is RZR and SYNC.  The others... I've hardly heard of but I'm willing to bet that somewhere between 90% to 100% of them are a lot younger than Uno.

It's a marathon. Every trade, every hodled coin, even purchase, every post or tweet, every new member to this forum helps the runner keep up his pace.