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

[natmccoy]

Coinmarketcap replied about their delisting of Cryptsy on Twitter: https://twitter.com/CoinMKTCap/status/684442293345103872


Today Cryptsy suspended their trade engine: http://www.coindesk.com/altcoin-exchange-cryptsy-takes-trade-engine-offline/

In the comments of the above link somebody mentions that there are $6,000,000 worth of Bitcoin in a Cryptsy cold wallet, if that's true, then: 1) That's insane that people have so much money in there & 2) They probably aren't running a fractional reserve & claims of technical issues could be true.

https://www.reddit.com/r/Bitcoin/comments/3zm3m7/cryptsy_halts_both_trade_engine_and_withdrawals/

https://www.reddit.com/r/dogecoin/comments/3znfd9/cryptsy_suspends_trading/


I'm not sure if withdrawals are working. We're down to 8.25% of UNO there, will that be the final figure or will we have a chance to reduce it further?

Either way, keep it up everyone! I've been using my margin trading funds, lending funds, & selling off other altcoins in order to buy UNO on Bittrex & move the coins to wallets.

EDIT: It seems that trades were just down for 3-4 hours but there have been some large trades on the UNO market in the last few hours. It could be bots, since some people mentioned bot activity while trading was disabled, but I don't think bots usually sell 200 UNO at a time.

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[BitcoinNational]

Polinex submission complete

EDIT:

As an aside, I checked my coins-e account today and the ten $UNO that I sent weeks ago still have not appeared in my account.

re: coins-e
Sorry to hear that.  I poked coins-e with a stick and in looks mostly dead.  But it is still up and the 'sign-up' is functional.  So dug deeper ... seems the prime time coins are still active (but really nothing is trading) the only exception was Doge seems to be trading daily in small chunks at fair value.  My best guess is they got frustrated maintaining wallets of crappy coins, so they just set the 'create address' feature to NO.  So you can't deposit on most of the still open markets if you can't generate an addie.  But a piss poor job of explaining that any where.

I think they plan to revamp (just guessing) once the actual alt market is clear, until then the lights are on but no one is home.

------------

re: POLO

We can keep knocking on their door.  But eventually they'll come knocking on our door

There is an alternative way to get access to Polo, still working on it, but if we can discover a network of coins that span Polo_Rex_Cryptopia_Bleu(& cryptsy if they survive) ... then trading back and forth via "proxy" is possible and also potentially profitable.


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RE: Cryptsy suspended their trade engine

just been trading there ... so was i on the ghost ship that still works ... also withdrew a batch of multiple coins ... no problem


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RE: EMC, emer coin

When I first saw EMC I thought joke.  But more and more it is starting to look like a solid access point to the BTC/$ markets ... specifically trading the dollar against RUR.  Now I am not really focused on forex, but things are looking good for UNO being part of the mix.  There is another pair SAK that gives access to Jubi Exchange where $ to CNY can be done.  And if I am reading the stars right, FTC is going to be a strong point of access to the GBP/$/Euro pairs.  If uno focuses exclusively just on acting as a SOV for the digital forex fortress ... we'll do alright

But I'd like to think UNO can serve forex players and still find lots of other applications too!

ps ... is EMC tied to NameCoin?  The wallet has some special 'Name' feature.

[FallingKnife]

Thanks for the additional info Nat, on Cryptsy.
I hope they really do have a $6m btc wallet, that they still control.

I'm impressed at how quickly the community was able to drain Uno from Cryptsy.

Lets keep a close watch on that Uno cold wallet.
It just moved and is now at 15,842.5 UNO, 8.06 % of supply.

[BitcoinNational]

15,842.5 UNO
8 % of supply
#accountWooVernlong

to battle the 92% of the rest of us

[BitcoinCharlie]

15,842.5 UNO
8 % of supply
#accountWooVernlong

to battle the 92% of the rest of us

Unobtanium ---> where it's easier to be a 1%er?

 

[natmccoy]

Good lord, the sell side on Bittrex is getting massive. The second largest UNO account on Bittrex put their whole stack for sale at 0.004, ~$2,000 worth. $600-worth for sale at 0.0034, that will get eaten quickly though.

It's largely a symptom of all of those Cryptsy refugees trying to cash out, plus the strong bitcoin value. I would be placing some fat buy orders around 0.003 if I had some farking bitcoin available.

There are big things happening on my end though, stay tuned. 

[BitcoinNational]

1%er?

being a 1kg holder is going to feel like having 5 days of bitcoin production ... 2400btc

in terms of HODLers 'the club' need not be big, just 500 long term investors limits 390kg average sized whales
(just a guess) but UNO will have x10 that ... we already have a health non-zero account distro ... and holding more than 200kg will be of significance ... +25kg will be elite status.

if we can catch a ride on to the money management dashboard exchanges ... earn rank with PPC, BitSilver, BLK, Doge, GEMz ... then price UNO will be watched by a gazzilion daily investors and eventually they will seek to 'obtain' at least 1 kilo


NOTE: 15,842.5 UNO is the biggest known whale, and it is getting reduced quickly, we can aim for 1000 serious holders [75kg-150kg Club]


===========

BITBAR is now a UNO trade pair ... more rare but less fair
https://www.cryptopia.co.nz/Exchange?market=BTB_UNO

[FallingKnife]

Ol' Bitbar dodges the altpocolypse!     Gawd I used to own a ton of that.  It was not bad for me at the time.

Interesting action on Bittrex for Uno.  I'll be watching that market.

I don't need much  more above 0035 while there are willing dumpers, certainly not any more in the 004s. It's seems like a great opportunity for someone new to buy a large quantity, but I'm a little top heavy from accumulating down from 01's over the past year.

I will put up a little floor on Cryptopia, in case anyone wants out fast, but I am not a premium buyer in the short term with expensive bitcoin and dumpers.  I have no doubt this will change in the long term. This is a very unique event, as Uno's largest market is being drained by investors trying to escape Cryptsy.

[BitcoinNational]

looks at topia books
gets 50cent/$ old man potter joke
tee hee
hee hawww!
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GOAL 2016

trade listed on a premier ultra high security / professional platform
(who that is I don't know)
but between assets like BTC, LTC, ETH, DASH, etc [top shelf coins]
someone is going to emerge with the go to top rated platform for high level ALT trading

_{Note:  Blockstream Group seems to have captured the BTC real time spot market.  But a dozen other players are struggling to capture the rest of the field.}

so the mission is
1. find them [platforms like bitX, hitBTC, polo, Live, Gate, itbit]
2. get listed on one of them  ^


======
observational

a) bitrex is starting to look like the A-level, buy/sell in sizable chunks Ex
b) cryptsy despite its demise may cling onto life and maintain #1 XRP and some $usd market shares
c) cryptsy is still the best micro trade market to fine tune the spot rate
d) Doge DOGE DoGe ... that's the next big market, in a word, backstop things
e) LTC markets we have 2 of them, and matching price parity with LTC is a possibility, stock up and turtle up slowly
f) marketing ... starting to think best marketing is not click ads, or media buzz, but just old fashion charts and markets traded, so best to focus on expanding the uno market than promoting it.  however, several trading platforms offer affiliate programs so a do-it-your-self ad campaign approach to marketing .... ONE invest in UNO, TWO promote exchanges via affiliate links/click ads, THREE profit /loop  

[natmccoy]

In my mind the most reasonable "Class-A" exchange at the moment is Poloniex. Their support, features, UI etc. is just top notch.

In regards to referral links & alternative marketing, I'm planning to resurrect my broadcast, making it a regular weekly event. We could do sort of a sponsorship deal at a super low rate, something like 0.01 UNO per hour of 'air time' for every 100 followers I have (That would cost about $0.01/hr as of today). In exchange I could place a nice "Supported by Unobtanium" image that links to the website. Mention the markets & other aspects occasionally, whatever works. I may also try to simulcast on Youtube and other websites instead of just Twitch. Just an idea, I AM going to be streaming tonight at the link in my signature, so stop by and check it out.

[BitcoinNational]

@natmccoy

that's what i'm talking about!
do it yourself advertising, case in point I would throw 1kg towards your broadcast to see if it gains results.

anyone can do whatever they please, and others sponsor as they please

later once we have a division of talent capable of effective pay-per-click ads, then we support them as a community, until then ad hoc, just do it!

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RE: "Class-A"

caution on the jurisdiction KYC markets, places like Brazil or others make more sense.  it just takes a good sys admin and tech team and the Top-Tiers will run in offshore waters, mostly.  still need access to more regulated territories too. So both A and B.

[FallingKnife]

Too bad Coinmarketcap unhooked Cryptsy. Uno would be shining right now in the results. 

Someone just bought the Uno cryptsy market up to 0.00625

[BitcoinCharlie]

Too bad Coinmarketcap unhooked Cryptsy. Uno would be shining right now in the results. 

Someone just bought the Uno cryptsy market up to 0.00625

Bittrex users get ready to BTD!

[FallingKnife]

Uno now selling for 0.0078 on Cryptsy.

Learminer has decided to add a warning about Cryptsy to Unobtanium.uno  I completely agree.

[BitcoinCharlie]

Uno now selling for 0.0078 on Cryptsy.

Learminer has decided to add a warning about Cryptsy to Unobtanium.uno  I completely agree.

I have not been in the troll box on Cryptsy.

Are they still processing $UNO withdrawals? Are there other coins that can withdraw?

[siameze]

Uno now selling for 0.0078 on Cryptsy.

Learminer has decided to add a warning about Cryptsy to Unobtanium.uno  I completely agree.

>add warning about cryptsy
>still has scam dev listed

[Blakesss]

This cryptsy drama has really thrown the UNO markets out of whack. Anyone care to offer predictions of how the market will react once (A) Cryptsy going full gox, or (B) Cryptsy withdrawl problems are resolved?

[FallingKnife]

Hi Blakesss.  Offering speculative theories is a lot of fun, and my favorite part of crypto, so I'll play.

If Cryptsy fixed withdrawal issues today, it could lessen the pressure on Uno. Traders would no long need to buy Uno to escape Cryptsy. In the short term, the price of Uno on Cryptsy would fall, and slowly begin to rise again on other exchanges.  

If they go Gox, then the 3 obvious scenarios for Uno would seem to be: 1) its returned to its owners, 2) it's stolen and dumped back on the market over time (ala Coinex), or 3) it's completely lost forever when the servers are repurposed.

Scenario #1 probably sees the remaining Uno moved to Bittrex and traded out orderly.  #2 puts downward pressure on the Uno market for a few more months as its absorbed. #3 makes a rare coin even more scarce and rare, but creates some uncertainty moving forward just as the ghost of Wolong haunted us throughout 2014.

Whatever happens, even if Cryptsy fixes their withdrawal problems, I think it's over for them. Why go back to Cryptsy when there are better exchanges that do not have the long tumultuous history of pissing off traders. Its really sad, and I'm just hoping for an ending that brings the Un safely home.

What do you think?

[BitcoinNational]

Scenario #4
perpetual ARB looper

Cryptsy liquidates all inventory.  Choose an overpriced coin and exit the door (you see this already).

Today :: 160kg of support @ 0.005  compared to 0.00345 outside of the Cry arena

What will be left are book entry BTC, LTC, XRP and the other reserve coins cry has locked down.
This should bring in new BTC, just enough to purchase more Doge, Eth, Monero, Dash, Nubits and allow them as exit points.
Repeat, Loop, Repeat;

The arb guys love it.  And it will take lawyers years to get a court order that demands payment in bitcoin.  They'll likely have to keep the fiat window open since more sticky legal issues there.  But that btc $price will be well below average too.  And the overpriced/underpriced markets fund the 'free no fee' trading.

Meanwhile they've got coin communities realizing they need to drain the wallets, regardless of price, smart money pushes the price up on oneside and catches the cheap coins on the otherside.

I see this playing out for years, well years by crypto time standards, so 5months, at least until replacement ALT exchanges fill the void, meanwhile 'Project Investors' will use Crypsty to aid in the CNY bitebi market price discovery.


Scenario #5
XRP

Focus on that market, everyone that wants to exit can withdraw XRP, lots of grumbling, but it could work and eventually Cry maintains it's #1 XRP market share, thus BTC can be held 'on the books' like a kind of fiat account but settled in XRP, LTC, or Doge, or what ever liquid alts they can keep fluid.

[FallingKnife]

Interesting scenario #5, BN.  Cryptsy becomes Xrptsy.

#4, I had not really considered the possibility of Cryptsy loop arbing. Great point.

I am still curious about the behavior of the #1 UNO wallet, known to be Cryptsy's cold storage.  Half of it has been removed over the past 60 days.   Given all the problems, why hasn't more of it moved away by the owners?  If the intention is to sell it at Cryptsy at a premium price, then why is all that Uno in cold storage rather than on the sell book already?

Do they think the price of Uno is going to go even higher on Cryptsy?
Someone forgot about it?
Bad news travels slowly to casual crypto investors?
If Cryptsy owns most of that large Uno wallet, maybe they're holding it back for later while they sell off stakes in lesser coins.

I can't select a favorite theory just yet.