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

[natmccoy]

RDD: That's nuts, it just hit 2.92 PH/s & 125.2M difficulty.

BlueMan: It's definitely the Bittrex wallet, I tested it by withdrawing a few months ago, also you can get a rough estimate by manually adding up the top 50 addresses on their distribution chart. It is silly, someone recently put 800 coins for sale at 0.015, since we're at 0.0035 right now they would have weeks of notice to move coins to an exchange to sell at that price, from the start of the last pump it took nearly 40 days to rise that much. Only about 25% of the coins stored in Bittrex are on the order book anyway. Before the 800 coin order was placed someone offered 1,100 coins at 0.004, then removed it within a day. It's likely the 2nd &/or 3rd largest Bittrex UNO accounts doing that. The largest Bittrex account is ~2,600 UNO, I would really like to see them move most of those funds to a wallet.

Regarding the image; Thank you very much for offering to do that, just a phrase would be great.

"Profits stored as Unobtanium, a rare crypto-commodity"

I think that's the best phrase I can come up with. That image is a full screenshot of my monitor on stream, so hopefully that gives you a good enough idea of the appropriate size. If it covers the whole taskbar to the left of my webcam that would be perfect, then I could easily layer it in using OBS.

[JustBob]

My brand new shiney UNO wallet appears to be stuck syncing up at block 721454.

It's the latest version v0.10.1.1-blueschist if that helps any.
Any hints clues or any other info would be greatly appreciated

[Blakesss]

Eye-popping hashrate.

[learminer]

The Cryptsy campaign was a huge success IMO. The mega wallet was drained off tens of thousands of coins and only a small fraction of these seem to have been moved to other exchanges. That is pretty awesome and shows a lot of confidence in the coin by its owners. Why the owners of the remaining 15k coins on Cryptsy decided to let those coins on the exchange is a mystery to me, I can only guess most of those belong to people who used to be into altcoins but lost interest and just weren't aware of the Cryptsy situation (or naively asumed the rumors were false).

Now Bittrex is the biggest market with ~12k of Un which is roughly 5% of total supply. That's not much for a primary altcoin market. UNO needs liquidity to trade and grow. uRAN was out of control, but Trex is fine right now IMO. The #1 account holds a nice sum, but nothing too worrying - pretty much every single altcoin on Trex has a similar distribution pattern (just look at the #1 DASH account worth >125BTC). I couldn't sleep well having that much coin on an exchange, but others apparently can. Raising awareness/volume would be my #1 concern now, nobody is interested in coins that don't trade.

BTW: updated the homepage with some requested changes in the team section.

[BitcoinNational]

"The Cryptsy campaign was a huge success IMO"
Agree.  UNO community is likely one of the better coins to have escaped, given it was our #1 market for years.
DASH, Doge, and other higher profile coins still don't know, or don't want to discuss how many coins are held by Project Investors.

Another positive direction is that the UNO market has become very decentralized.
Here a new exchange https://safecex.com/market?q=UNO/BTC
[note the bulk order option] <<<  
plus the cryptopia UNO market is developing a diverse market and direct swaps for other good crypto coins (and goods / services)
plus shapeshift ... reach out to them let'm know you like the fact that UNO is listed

And there are many more lesser known markets.  This is a nice attribute of UNO.  Many markets, few coins.
Bittrex is standing in primer market position.  Would be nice to get UNO traded on POLO or other higher profile exchange in 2016.
Still looking at the NXT exchange (or similar) also. [see metaexchange, openledger, NXTsecureAE]

A major selling point for UNO, IMO ... the asset you hold in your hand, you hold the keys, and you take it to market in small amounts.  Where most other Top100 are very dependent on the exchanges and stacking the order books.  That puts the coin and the communities capital (BTC) at risk to a 3rd party.  

Last would like to see an exchange that UNO community controls.
Something that the mentioned Foundation would manage and like shapeshift / blake exchange [automatic swaps].

Eye-popping hashrate.

and yet rock bottom price  but looking at the books just trying to grab 1Ton quick would likely double the spot, and quadruple the hash 

[FallingKnife]

WHOAH!?!! We are over 2.6 PETAHASH and over 107 M difficulty! That is amazing! First time I've ever seen that.


EDIT: Now over 2.89 petahash and 125 M difficulty. So much hashpower joining UNO and while it's still ~$1.35...   

It does that sometimes. Wish I knew where it was coming from today.

If there are any UNO merge pool ops not listed in the OP, please contact me and I'll try to help promote your pool.

[FallingKnife]

My brand new shiney UNO wallet appears to be stuck syncing up at block 721454.

It's the latest version v0.10.1.1-blueschist if that helps any.
Any hints clues or any other info would be greatly appreciated

My Bluechist is at 721913, and I am writing this several hours after you posted. Maybe you're all synched?

Except on a machine where I run a node, my primary wallet on laptaps is now Uno Electrum.  https://cryptap.us/uno/electrum/

[FallingKnife]

Look what Bryce is doing these days. Interesting.
https://i.imgur.com/wnGkxAy.png[/img]


"We are currently only sending direct membership invites."

Lets show him some support by requesting an invite for early access to the service.

[BitcoinNational]

i liked BWs suggested alias for UNO ... "Bitcoin Elite"
---
seem to be lots of music recording projects ( i know of at least 7)
i would suggest watching Funk, Audio, and Song (uno base paired) ((still unclear on their soundness))

[tertius993]

Eye-popping hashrate.

and yet rock bottom price  but looking at the books just trying to grab 1Ton quick would likely double the spot, and quadruple the hash 

A consequence of merge mining in my view.  Merge mining with BTC basically breaks any relationship between hash rate and price, as the merge mined coin is incidental and totally dwarfed by BTC.  Look at more or less any of the merge mined coins and you'll see huge difficulty (the really measurable thing, directly driven by the hash of course) and tiny values.

[RDDRocket]

Tiny value.. until it isn't. With use and more markets and store of wealth, even if it takes a couple more years the price will increase naturally if it's used and the blockchain is strong.

[natmccoy]

In regards to the idea that we have a healthy amount on Bittrex & that we need coins for liquidity & volume which is good for price. Disclosure: my thoughts are based off of no data.

I agree that volume is important, & liquidity is important for volume, that much is obvious. What I'm not sure about is the relationship between those two aspects and supply. It seems likely that with very few coins, sell orders would be smaller & higher (smaller in UNO but the same in BTC). Since we are 'Unobtanium', I feel that we should not be content with an average, or slightly above average, "% of coins on exchanges". In my mind, even on a reputable exchange like Bittrex we should strive to have as few coins as possible while still maintaining the market.

Let's think of a somewhat extreme hypothetical scenario to determine whether it is desirable. We currently have 8% of coins locked in Cryptsy with an unknown future, & 7-8% on other exchanges. In three years, the Cryptsy coins have been bought back in auction, & we have 1% of coins in 4 exchanges, or ~500 UNO per exchange. Let me know what you think, but I believe in that scenario; volume would be the same or greater, price would be much higher, our image would be more solidified & our community more respected. It's not like people will stop buying if there are less coins available.

That concept is irrelevant at this point though, because 75% of exchange coins aren't on the order books, and only a small portion of those are selling into buy orders. So we're looking at at least a 50% reduction in exchange holdings before it starts to alter supply. At this point it's about the image & security.

I realize that we'll never be able to convince everyone to store their UNO in personal wallets, but I'll continue doing what I can. I would like to do some analysis, comparing the exchange holdings of 20+ altcoins of varying success, that would take a lot of work though since most block explorers don't have exchange wallets labelled, & even if I analyzed it with withdrawals the data often wouldn't be completely accurate. It would definitely be interesting though.

For now I'm going to continue my goals to reduce exchange holdings, (with the exception being the Cryptopia altcoin/UNO markets & LTC/DOGE on Bleutrade, since those could use more attention). I'm open minded to changing that perspective though if conditions change or if someone can find historical data or research published by an economist about a similar topic.

[BitcoinNational]

re: my goals to reduce exchange holdings
*mine too!!*

Think Different.  UNO is a unique product.  

Chasing the daily volume with a rare coin is not practical.  And the better aim is to have UNO function as EQUITY in a greater framework.  Subsidiary products- or brands - can flux and trade in big liquid numbers, UNO is more like a Berkshire share.

Also the spot price doesn't need to be dialed into the exact penny or satoshi, it can vary from market to market, and one market leads on Monday, another on Tuesday, randomly.

**personal opinion**

Where I am intending to focus my trades:

Cryptopia altcoin/UNO markets
LTC/DOGE on Bleutrade
$/UNO ... later once a platform is known
uno/bitcoin .... WHOLESALE lots ... round bids ... like 1 BTC for 101.95 kg

Enough persons are naturally concerned with the UNO/BTC trading that I pay it little mind.  Also it is a bit foolish to play poker with a coin that holds 95% of the chips (if we go by market capital).  Coins like LTC, Doge or even DASH, NXT, PPC, can be directly traded and have sufficient liquidity.  

There is much less risk of being eaten alive by bear-whale bitcoin sharks.
Really think about it, if I had a $million in btc I could break any ALT coin except maybe XRP, LTC, or ETH.
But it would be much less easy to kill a coin community that doesn't want bitcoin in exchange.  
ALTs for ALTs.  Bitcoin is for billionares.  Really ... see ... the Zapo advisors, or those twin who almost owned Facebook but got Zuck'd.

Point is forget volume, figure how to use UNO to store value ... that means flip other assets ... say ... forex CNY/$ ... online poker winnings ... day trading stocks ... shorting ETH ... whatever ... but when you need a battery to store that value won ... UNO is that kind of coin.  

What's your profitanium vault?


the dollar?
LOL
it is not even a coin anymore, not since Nixon

[BlueMan.]

[tertius993]

Tiny value.. until it isn't. With use and more markets and store of wealth, even if it takes a couple more years the price will increase naturally if it's used and the blockchain is strong.

You may be right, but predicting the future is notoriously difficult. My comment was about what I observe today with merge-mined coins in general (including UNO) and the apparent disconnect between difficulty/hash rate and price.

[FallingKnife]

Tiny value.. until it isn't. With use and more markets and store of wealth, even if it takes a couple more years the price will increase naturally if it's used and the blockchain is strong.

You may be right, but predicting the future is notoriously difficult. My comment was about what I observe today with merge-mined coins in general (including UNO) and the apparent disconnect between difficulty/hash rate and price.

Hi Tertius,
Your observation is correct.  If the price of BTC skyrocket, people will rush to put hash online.  Uno is now immune to big profit switching swings based on its own price. We don't see the the huge  700% hash swings that we used to see (i/e from 10 THS to 70 THS.   Uno is fairly consistently around 1.2 PHS now with bumps beyond 2 THS. Our hash rate isn't bad compared to where it used to be, but I'd rather see it higher.

Thats not to say that the miners don't care about Uno and how it can help their profits. They want to earn as much as they can for their hash.  The price of UNO is more of a factor for mining over the long term now, rather than the short term. Raising the price of Uno would help efforts to attract and retain miners for Uno. A higher cap brings some attention with it, and attention can bring miners.

[BitcoinNational]

disagree some bit.  but agree on this bit: 'UNO is more of a factor for mining over the long term'

for the ASIC farms UNO offers not much (under 4kg/day), but given the fact that they also harvest BTC and NameCoin, it might led them to think about accumulation.  And yes they are the 1st to 'own' a bitcoin.

that is to say there is incentive for them to not only up the hash rate, but to also pay some attention to the rate of exchange, and they hold the coin choice to raise the price.

TO REPEAT; ASIC farmer balance sheet ... earnings in last 24hrs ... 45 BTC ... 0.0567kg UNO ... hmmm ... which market to support and which to sell
off?  


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

@BlueMan.

masterpiece brother!  that is a work of ART!

[BlueMan.]

[Krypto Superdog]

wow, blueman, great graphics!  looks like you've been practicing 

[BitcoinCharlie]

blueman has some awesome graphics!