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

[tertius993]

Those last two posts show exactly the confusion - one says UNO:BTC is the relevant exchange rate, the next says UNO should be worth $3 ...

As for the wider question of utility in crypto, well yes it is certainly an interesting question.  For the average person I don't think it does bring much - complicated and difficult to use, when compared to the standard bank account or credit card they are used to.

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[natmccoy]

Those last two posts show exactly the confusion - one says UNO:BTC is the relevant exchange rate, the next says UNO should be worth $3 ...

As for the wider question of utility in crypto, well yes it is certainly an interesting question.  For the average person I don't think it does bring much - complicated and difficult to use, when compared to the standard bank account or credit card they are used to.

It's clear that UNO value for the time being has been unofficially and naturally 'pegged' around $2.50 by the market. It is also clear that it is following a leveling pattern upward, however during periods of stability, after it has established a new level, it is inversely correlated to bitcoin value but directly correlated to dollar value. We are currently in the $2.50 level, and the next will probably be $4-$6.


For the next few years we needn't be concerned with appealing to "the average person." All UNO must do is continue to maintain and establish its present image in the crypto community of; store of value, crypto commodity, late-stage deflation. Current market cap of UNO is barely above 0.01% of the bitcoin market cap. If bitcoin holders continue to gradually decide that UNO is a reliable coin to hold, the value will continue its upward trend.

Because of all this, UNO is presently ~10% of my portfolio. Some will choose 0.1%, some will choose 100%, but as long as current users continue to accumulate and new users trickle in, the rarity of this coin will drive a solid and safe rise in value.

All-time UNO/BTC price graph will resemble the logarithmic BTC/USD graph, only in a condensed form because of how much more quickly UNO halvings have occurred.


EDIT: These "levels" seem to correlate more closely to bitcoin price than anything else. In the short term it does seem to have a sort of weak-bonding (like the hydrogen bonds between water molecules) to USD (As bitcoin rises, price sags. As bitcoin falls, price plumps). However the longer-term trend just climbs in satoshi value. (I think it's fair to start this graph a few months into unobtanium's life since most altcoins experience early spikes in value).

[learminer]

As for the wider question of utility in crypto, well yes it is certainly an interesting question.  For the average person I don't think it does bring much - complicated and difficult to use, when compared to the standard bank account or credit card they are used to.

The core technology is complicated in its intricacies, yes. But it need not concern the user very much for the most part. Just like they don't need to know where cash comes from, how it is created, how it got transferred from one account to another and what gives it value - people just accept that out of habbit. Crypto also just works, you don't have to understand how the blockchain works to use BTC or UNO.

A bank account is only easy because people already have one. If someone doesn't or wants a new one, opening that is far more complicated and time consuming than obtaining a crypto wallet for sure:

• 1. They need to fill out a form with all contact details.
• 2. They need to additionally confirm their identity through whatever channel local laws deem acceptable.  
• 3. Where I live that requires going to a location, showing them papers, signing some documents and then waiting 2-3 days until veryification is complete.

edit: and the worst part, depending on your background check you might even get denied if you have a bad credit history or work in the wrong business, preventing you from even taking part in the system.
How is that easier or more comfortable than cryptocoins:

• 1. They can go to any coin's website or an appstore) download the wallet and are ready to go, that's steps 1-3 of fiat combined in a 5 minute task.

Then I have an empty account - now what? That's the fiat advantage - fill it with cash or just have your income paid to the account, easy.

The "In" and "Out" of crypto are the problem. Once people are "In" the crypto system it is very easy to move funds around, use or exchange coins etc. - but the steps of obtaining coins and spending coins are just not competitive with fiat yet. I imagine if more people had the option to get paid in Crypto for their jobs, adoption would skyrocket in a very short time.

The complete system to use fiat money is in place and has been refined and enhanced for decades (credit cards, bank transfers, online payments), or even centuries (paper money and coins). We've been living with this system and been trained to use it our whole lives. Digital currencies cannot hope to reach that level of sophistication, breadth of services, acceptance and adoption in only a few years. If you take that into consideration its amazing how far we have come in such a short time!

Don't be impatient, the internet has completely transformed how we communicate, how we shop, how we meet new people, how we consume media and news - but it took decades. When I was surfing the internet 20 years ago and told people about it, they looked at me in a funny way. Now almost everybody uses it every hour of every day. Fiat money will still be around in 20 years, but I'm willing to bet cryptocurrencie will play a big role too by that time...

[tertius993]

Hmm .. "uptrending" measured how?  If against BTC, then you need to allow for the downtrend of BTC.

And really 50 or 100 people buying and holding is not, in itself, utility, is it?

If you had your money in a Greek bank and transferred it out to $UNO for safekeeping knowing that there was going to be a 30% bail-in on all frozen deposits over 8k Euro, I'd say that there is a lot of utility in $UNO.

Store of value is utility in and of itself.  It's similar to buying and holding digital gold...

Well ignoring the fact that a bail-in hasn't actually happened yet (it is still speculation I think?) and that they tend not to give any warning of it; let's assume you correctly predicted that it would happen and had, say €10,000 to protect. How would you go about it?

€10,000 is over 2% of the total market cap of UNO - I don't really see how UNO could be a store of value in a meaningful way for those sort of sums? Even trying to buy that many would move the price horribly, and selling them would do the reverse - the person doing this would lose out both ways.

In theory it could do that in future, but the market cap would have to be vastly greater and the liquidity much higher than it is today.

[tertius993]

As for the wider question of utility in crypto, well yes it is certainly an interesting question.  For the average person I don't think it does bring much - complicated and difficult to use, when compared to the standard bank account or credit card they are used to.

The core technology is complicated in its intricacies, yes. But it need not concern the user very much for the most part. Just like they don't need to know where cash comes from, how it is created, how it got transferred from one account to another and what gives it value - people just accept that out of habbit. Crypto also just works, you don't have to understand how the blockchain works to use BTC or UNO.

A bank account is only easy because people already have one. If someone doesn't or wants a new one, opening that is far more complicated and time consuming than obtaining a crypto wallet for sure:

• 1. They need to fill out a form with all contact details.
• 2. They need to additionally confirm their identity through whatever channel local laws deem acceptable.  
• 3. Where I live that requires going to a location, showing them papers, signing some documents and then waiting 2-3 days until veryification is complete.

edit: and the worst part, depending on your background check you might even get denied if you have a bad credit history or work in the wrong business, preventing you from even taking part in the system.
How is that easier or more comfortable than cryptocoins:

• 1. They can go to any coin's website or an appstore) download the wallet and are ready to go, that's steps 1-3 of fiat combined in a 5 minute task.

Then I have an empty account - now what? That's the fiat advantage - fill it with cash or just have your income paid to the account, easy.

The "In" and "Out" of crypto are the problem. Once people are "In" the crypto system it is very easy to move funds around, use or exchange coins etc. - but the steps of obtaining coins and spending coins are just not competitive with fiat yet. I imagine if more people had the option to get paid in Crypto for their jobs, adoption would skyrocket in a very short time.

The complete system to use fiat money is in place and has been refined and enhanced for decades (credit cards, bank transfers, online payments), or even centuries (paper money and coins). We've been living with this system and been trained to use it our whole lives. Digital currencies cannot hope to reach that level of sophistication, breadth of services, acceptance and adoption in only a few years. If you take that into consideration its amazing how far we have come in such a short time!

Don't be impatient, the internet has completely transformed how we communicate, how we shop, how we meet new people, how we consume media and news - but it took decades. When I was surfing the internet 20 years ago and told people about it, they looked at me in a funny way. Now almost everybody uses it every hour of every day. Fiat money will still be around in 20 years, but I'm willing to bet cryptocurrencie will play a big role too by that time...

I agree with you completely, but I'm not really talking about having to understand the technical details of either system, but rather the practical complexities of actually using them.  Hopefully it will mature and develop in the future, but yes you are right it will probably take decades rather than years.

[edgar]

v0.10.0.0-blueschist

No block source...

[rojan]

As for the wider question of utility in crypto, well yes it is certainly an interesting question.  For the average person I don't think it does bring much - complicated and difficult to use, when compared to the standard bank account or credit card they are used to.

Considering the average person using a commodity like gold or silver might be a better comparison with all crypto, but with $UNO specifically.  I also understand what you're saying with easy everyday transaction methods people access now compared to anything blockchain.

[edgar]

v0.10.0.0-blueschist

No block source...

15 hrs later - still no block source available.

Just me??

[rojan]

http://www.bloomberg.com/news/articles/2015-07-08/china-stock-futures-plunge-amid-trading-halts-margin-debt-drop

Chinese stocks dumping.  Wolong?   

[MegaMike]

v0.10.0.0-blueschist

No block source...

15 hrs later - still no block source available.

Just me??

Mine is working. Did you try it with the conf file (specifically the addnodes) as described in the first post of this thread?

[BitcoinNational]

do we need to organize more dedicated seed nodes?
i don't think it would hurt, but given the # of uno block explorers some what redundant.

-----

i just pulled a chunk out of cryptsy
(already have enough risk with them on other coins not going to lose a gram of UN)

[BitcoinCharlie]

v0.10.0.0-blueschist

No block source...

15 hrs later - still no block source available.

Just me??

Mine is working. Did you try it with the conf file (specifically the addnodes) as described in the first post of this thread?

Mine is working as well...

[siameze]

do we need to organize more dedicated seed nodes?
i don't think it would hurt, but given the # of uno block explorers some what redundant.

I had mentioned a project that would put an easy, cheap (~$20 US) seed node in the hands of anyone. If I can dig up that post I will let you know.

[ethought]

v0.10.0.0-blueschist

No block source...

15 hrs later - still no block source available.

Just me??

try the nodes here: http://www.blocktree.io/peers/UNO/

[edgar]

v0.10.0.0-blueschist

No block source...

15 hrs later - still no block source available.

Just me??

Mine is working. Did you try it with the conf file (specifically the addnodes) as described in the first post of this thread?

multiple times on both machines..

guess ill delete the chain and restart. = nojoy

scrapped & downloaded fresh = no joy.

baffled

[siameze]

v0.10.0.0-blueschist

No block source...

15 hrs later - still no block source available.

Just me??

Mine is working. Did you try it with the conf file (specifically the addnodes) as described in the first post of this thread?

multiple times on both machines..

guess ill delete the chain and restart. = nojoy

scrapped & downloaded fresh = no joy.

baffled

Sent you a reply PM to this, and just noticed the node list.

[FallingKnife]

mmpool is reporting a ddos attack. If you merge mine Unobtanium/Bitcoin there, check your hardware. They have backup pool at backup1. mmpool .org.

[MegaMike]

v0.10.0.0-blueschist

No block source...

15 hrs later - still no block source available.

Just me??

Mine is working. Did you try it with the conf file (specifically the addnodes) as described in the first post of this thread?

multiple times on both machines..

guess ill delete the chain and restart. = nojoy

scrapped & downloaded fresh = no joy.

baffled

Firewally something? If it's an update of the same executable, your firewall may not have cleared this particular version. I need to clear it each and every time I install a new version wallet.

try the nodes here: http://www.blocktree.io/peers/UNO/

Nicely done

[BitcoinCharlie]

Downloaded the Android wallet on another device and get no peers and no update of the rockchain.

Any advice?

[edgar]

Passed out mid fix.

backup laptop is now synched and wallet.dat restored.

main laptop still not synching/0 active connections after multiple attempts & complete wipe/fresh installs