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

[Zelig]

Is no one exclusively mining UN these days - trying to defray the investment in expensive mining hardware?  (hope that question made sense)

I long ago switched my silly Genesis mining contract back to exclusively BTC mining.  I'm earning like 80 cents a week in BTC... almost not worth the time it takes to keep my mining spreadsheet up to date other than it continuing to be a hobby.  After 767 days of mining (defunct 7 GH Jalapeno, fraud PB Mining, and Genesis Mining) I'm still down $400.  

Z

I'm sure someone is, but really why would you? At the current difficulty you'd just be throwing money away.  Given that you can mine BTC and merge mine as well for the same cost then it seems a no brainer to me.

You know my concern.  We don't need 400 people each owning a quarter percent ... or whatever.  We need like 4000 people trying to accumulate this.  And, I worry that some large holder (Wolong?) is just squeezing every last nickle out of the remaining funds that are in UN... I think to grow this we have to stop undermining each other?  I don't know.  I just catch bits and pieces of conversation here - usually on Fridays like this when I'm counting my BTC, UN, and MZC over a couple of cold ones.  f

Is Genesis set up for merge mining?  I haven't logged into my Genesis account in months.  Every Friday I tally the daily reports of deposits from Coinbase sitting in my email - which takes about five minutes and arrives at around 80 cents... woohoo!

Z

A reasonable concern.  Unfortunately I suspect that by the time you discount the coins on Cryptsy and in the really large wallets that haven't moved in years and are almost certainly lost, plus all the people who have coins in multiple addresses, the likely reality is about 20 people control around half the available supply.

That is in no way sustainable for any meaningful purpose except for pumps and dumps.

Add in the fact that I'm struggling to see any "real" use case for UNO ...

You think those coins on Cryptsy are really lost for good, then?  A question I almost posted earlier was; when do I write off my lost coins?  But then I considered, I'm only talking about $50 to $75 personally lost...  

You know, a consideration a marriage counselor might suggest to a couple on the rocks is; try to remember what you saw in each other when you first married.  What did we see in UNO when we first got involved in UNO?  Is that still there?  ... Not sure what the marriage counselors next question would be.  But, what is going wrong with UNO?  Can it be repaired?  

When you have 8 decimal places, almost any number is arbitrary.  21 Million.  240,000.  42.  

Use case.  Store of value?

I suddenly recall a Bryce Weiner interview where he said (wheezed out really - exhaling a cloud of cigarette smoke from his lungs), "I am the destroyer of shit coins".  He's gotta be in the 20 or so holders of UN you mentioned.  Does he bother to visit this site?  

I hear a lot of talk of UNO being a mature, established altcoin... but really, new alts are not coming onto the market like they used too.  And, having been around for awhile can go different ways.  In the case of Microsoft, this is good.  In the case of Yahoo... Yahoo is yesterday's Internet.  We don't want to be yesterday's alt coin.  

Z

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[BitcoinNational]

Use case.  Store of value?

YES!

Argument is simple.  Un is part of the BTC Rail Road Co. If BTC fails, then UNO maybe fails. Else UNO virtually can not fail.
There are 2 other coins in the same bracket as UNO ... ix & i0 .. but they screwed up in 'fairness' and their ex market placements and daily volume reflect this.  UNO has rightful claim to the position currently held by NMC, aka $5M in cap, they claim and shifted to 'Store of value' case use but funny thing is the reward schedule is still raining down new coins and will so for a long time.

More complex argument.   If you are not paying attention to the base pair factor then you're doing it wrong!  You can 'play' the market and ask/demand UNO in return.   It works.  UNO is not just a coin but an investment platform, like NXT, BTS, or XCP.

Small community?  As compared to which coin?  Ruby like 500 addresses ... UNO is north of 20k i believe ... and that can be fact checked.  Or try bytecoin, how many hold that one?  How about NXT started with no more than 75 holders, probably less.

If you want to test you're faith check the facts compare the numbers.  Shit coins are dropping fast and furious.  UNO is just patiently waiting it out, quietly expanding operations, and yes maturing nicely.

[Zelig]

Use case.  Store of value?

YES!

Argument is simple.  Un is part of the BTC Rail Road Co. If BTC fails, then UNO maybe fails. Else UNO virtually can not fail.
There are 2 other coins in the same bracket as UNO ... ix & i0 .. but they screwed up in 'fairness' and their ex market placements and daily volume reflect this.  UNO has rightful claim to the position currently held by NMC, aka $5M in cap, they claim and shifted to 'Store of value' case use but funny thing is the reward schedule is still raining down new coins and will so for a long time.

More complex argument.   If you are not paying attention to the base pair factor then you're doing it wrong!  You can 'play' the market and ask/demand UNO in return.   It works.  UNO is not just a coin but an investment platform, like NXT, BTS, or XCP.

Small community?  As compared to which coin?  Ruby like 500 addresses ... UNO is north of 20k i believe ... and that can be fact checked.  Or try bytecoin, how many hold that one?  How about NXT started with no more than 75 holders, probably less.

If you want to test you're faith check the facts compare the numbers.  Shit coins are dropping fast and furious.  UNO is just patiently waiting it out, quietly expanding operations, and yes maturing nicely.

Just playing Devil's advocate; why would BTC's success insure UNO's success?  I mean, just because UNO is sidechained?  You have to talk to me like I'm not a Dev and have been out of the loop for the past six months.  

ix, i0, NXT, BTS, XCP looks like alphabet soup to people who aren't ... seriously... I used to be really into crypto... but, I've been working my ass off 11 hour days (2 plus hours of that is commute on the frickin Ferry) to learn my new job and just have not been able to keep up... Missing 6 months in crypto is like ... well something... I'd prefer to quit this job and go back to the way my life was before... but you know, I need the job for $ so I can keep buying cryptos... its a vicious circle.

Here's some background.  I'm retired Military right.  I went to school for three years on the GI Bill in which I time I learned about Bitcoin and altcoins.  I went back to work six months ago and entered the corporate world.  I bought 8 suits for this job. Don't get me wrong, I've started at base level ... but, this is the world I've recently entered into.  The people I work with are a nice enough lot of people, but for the most part... they don't want to know anything about cryptos.  They just want to prance about in their suits at after work bars... and talk about how they got it made in the corporate world.   That's what I'm dealing with.  

Had to come back and add... seriously, was just brushing my teeth.  The other night at the bar, this one kid... this 20 something year old fresh out of college - is all, "I'm going to retire at 45 and open a bar on a tropical Island, and just hang out".  He knows this, he insures us, because "he's investing".  I know, I said, "nice enough lot of people"... but some of them are just complete braying jack-asses.  

Z

[Craig Swalby]

Why buy, hold, trade any altcoin?  Profit potential.  Store, transfer value.  Opportunity to provide feedback for the development of better user experience.  And most important - Memes.

[tertius993]

Use case.  Store of value?

YES!

Store of value? I read this a lot (here) but no one seems able to explain it, in what way can UNO be considered a store of value?

Use case.  Store of value?

YES!

Argument is simple.  Un is part of the BTC Rail Road Co. If BTC fails, then UNO maybe fails. Else UNO virtually can not fail.

If BTC fails then UNO certainly fails - difficulty/mining/hashrate is tied directly to BTC now, so UNO is wholly dependent upon BTC.

It works.  UNO is not just a coin but an investment platform, like NXT, BTS, or XCP.

Another claim - in what way is UNO an "investment platform"?

Small community?  As compared to which coin?  Ruby like 500 addresses ... UNO is north of 20k i believe ... and that can be fact checked.  Or try bytecoin, how many hold that one?  How about NXT started with no more than 75 holders, probably less.

If you want to test you're faith check the facts compare the numbers.  Shit coins are dropping fast and furious.  UNO is just patiently waiting it out, quietly expanding operations, and yes maturing nicely.

Compared with Bitcoin of course - why would you compare with anything else?

Can I buy UNO directly?  No, I have to go through BTC
Is the market cap of UNO greater than BTC?  No, it is 0.004% of BTC
Is the liquidity of UNO greater than BTC? No.
Is the number of users of UNO in any way comparable with BTC? No
Is the development of UNO comparable to BTC? No, and in fact we've even bastardised the testnet to make sure it can't be.

In short having bought BTC why wouldn't you just keep the BTC?  I'm sorry to be so blunt, but that's how I see it.

[BitcoinNational]

BTC can lock up in diff.
UNO chain does not lock up.  
(possible, not probable scenario)
((imagine the panic dumping of BTC and flight to UNO))

---

compared to BTC you say
https://i.imgur.com/XOV3xqg.png (tks to Craig)
i believe that chart shows 2 years of holding UN did you better than 2 years of holding BTC
i wouldn't mind staying in that channel ... .003-.030 btc ... buy low sell high ... however i hold the opinion UNO is better gauged against $usd or now we can play CNY (if bitebi9 is legit).

---

Christ!  I'mean Holy Roger Ver!
You want the market cap of BTC!
Wait for it, like a long wait, and well Humpty Dumpty might fall, all that SHA256 investment is likely to turn to UNO or iX, so place your bets.

------
"in what way is UNO an "investment platform"?

Oh lawrd!  <pause for breath ... okay now I need a beer too>

You can buy other crypto direct via an UNO denominated market. (imagine that in large cap and bold)

Another claim, no, matter of fact, just don't have the +88 markets plugged into >> http://coinmarketcap.com/currencies/unobtanium/#markets

"Can I buy UNO directly?  No, I have to go through BTC"

incorrect see above


MRW hearing Stimpson like questions

[tertius993]

BTC can lock up in diff.
UNO chain does not lock up.  
(possible, not probable scenario)
((imagine the panic dumping of BTC and flight to UNO))

Well, I suppose one can imagine it, but it seems so unlikely as to be not worth considering, I'll try again - why would anyone "fly to UNO" with a market cap of $250k, and less then $1000/day of volume?  Compared with, say LTC ($137 million market cap and over $1M/day).

Christ!  I'mean Holy Roger Ver!
You want the market cap of BTC!
Wait for it, like a long wait, and well Humpty Dumpty might fall, all that SHA256 investment is likely to turn to UNO or iX, so place your bets.

No I don't "want" the market cap of Bitcoin, I am pointing out why one would choose BTC over UNO.

------
"in what way is UNO an "investment platform"?

Oh lawrd!  <pause for breath ... okay now I need a beer too>

You can buy direct via an UNO denominated market. (imagine that in large cap and bold)

Another claim, no, matter of fact, just don't have the +88 markets plugged into >> http://coinmarketcap.com/currencies/unobtanium/#markets

OK, so to be clear, by "investment platform", you mean "you can buy it"?  Is that it?

[BitcoinNational]

1. (possible, not probable scenario)
This is a long play, years down the road, the job assigned to UNO is make sure we are among the candidates of ALTernatives to BTC. Very least need to be above $1M in market cap to be 'seen'.

2.  "why one would choose BTC over UNO"
Hard to be heard above all the buzz about BTC, but same tech less the inflation, it is a numbers game.  Cost of transaction / network operations cost.

3.  investment platform
That means you can invest in most crypto and use UNO as the instrument for entry and exit.  This is a big point, difficult to pitch in 10 sec, but if I had to do it, ... Which wallet is easier to download and keep in sync?  BTC or UNO?  

_{edit: This is not theory.  Today about 90UNO where traded for 4 different ALTs.  Like POT, RDD, ZEIT, DGB, DOGE, FTC, Quark, BLK, DMD, or nearly HUNdred others, you can trade direct using your UNO no need to use BTC as the middleman.}

[tertius993]

1. (possible, not probable scenario)
This is a long play, years down the road, the job assigned to UNO is make sure we are among the candidates of ALTernatives to BTC. Very least need to be above $1M in market cap to be 'seen'.

I'm sorry but that doesn't really mean anything - "the job"?  Assigned by whom?

2.  "why one would choose BTC over UNO"
Hard to be heard by all the buzz about BTC, but same tech less the inflation, it is a numbers game.  Cost of transaction / network operations cost.

Why is less inflation an advantage? 

I'm not sure what the network cost of UNO is now - but I would imagine the cost per UNO transaction is now astronomical - huge difficulty, few transactions.

In the last 100 blocks - 5 blocks had 2 transactions and one had 3, the rest only had the single coinbase transaction.  So 100 blocks of mining for 7 "real" transactions ...

3.  investment platform
That means you can invest in most crypto and use UNO as the instrument for entry and exit.  

Same as Bitcoin then?  Except you have to buy Bitcoin first to do it.

 This is a big point, difficult to pitch in 10 sec, but if I had to do it, which wallet is easier to download and keep in sync?  BTC or UNO?  

If you mean Bitcoin core - then clearly UNO is the easier wallet to keep in sync; but there are dozens of options with BTC wallets - keeping a BTC wallet on my iphone in synch is trivially easy.

[deadlock1]

Why is less inflation an advantage?  

Cause the sell pressure is not high. We have an ultra low inflation rate but still more than 800 TH/s and a good working network. That's good!

It would be easy to rise the exchange rate to 0.01, you only need a few BTC. If many buy, it might come up to 0.1 soon.

But there is no need to rise it too soon. We like the low prices.  

I'm not sure what the network cost of UNO is now - but I would imagine the cost per UNO transaction is now astronomical - huge difficulty, few transactions.

In the last 100 blocks - 5 blocks had 2 transactions and one had 3, the rest only had the single coinbase transaction.  So 100 blocks of mining for 7 "real" transactions ...

You are right, but don't forget we can do the merged mining together with bitcoin, so mining is not too expensive!

Same as Bitcoin then?  Except you have to buy Bitcoin first to do it.

I think Uno will rise, when Bitcoin gets forked. Forking means inflation + loss of trust.

- Bitcoin Core
- Bitcoin Classic
- Bitcoin Unlimited

This will lead to irritations. Which Bitcoin is the right Bitcoin?

The people will panic and search for a life boat. There it is: non-inflatable Uno

So it's similar, but not the same. Unobtanium is more stable and has more potential to rise!

[tertius993]

Why is less inflation an advantage?  

Cause the sell pressure is not high. We have an ultra low inflation rate but still more than 800 TH/s and a good working network. That's good!

It would be easy to rise the exchange rate to 0.01, you only need a few BTC. If many buy, it might come up to 0.1 soon.

But there is no need to rise it too soon. We like the low prices.  

That is one characteristic of a low inflation schedule, but another is that it is now impossible to mine any material quantity - perhaps one reason we have such concentrated holdings.  I am not wholly convinced that the very front loaded distribution (and extremely long tail) is an advantage, but I haven't given it a great deal of thought.

I'm not sure what the network cost of UNO is now - but I would imagine the cost per UNO transaction is now astronomical - huge difficulty, few transactions.

In the last 100 blocks - 5 blocks had 2 transactions and one had 3, the rest only had the single coinbase transaction.  So 100 blocks of mining for 7 "real" transactions ...

You are right, but don't forget we can do the merged mining together with bitcoin, so mining is not too expensive!

Quite - and hence UNO is now totally dependent upon Bitcoin - it seems highly unlikely that a move away from Bitcoin will be to UNO.

Same as Bitcoin then?  Except you have to buy Bitcoin first to do it.

I think Uno will rise, when Bitcoin gets forked. Forking means inflation + loss of trust.

- Bitcoin Core
- Bitcoin Classic
- Bitcoin Unlimited

This will lead to irritations. Which Bitcoin is the right Bitcoin?

The people will panic and search for a life boat. There it is: non-inflatable Uno

So it's similar, but not the same. Unobtanium is more stable and has more potential to rise!

Not relevant to my point that to use UNO, you have to first buy BTC.

As for the Bitcoin discussions around blocksize, lightning networks, sidechains, segregated witness, etc. yes I agree they are confusing for many, but:

a) I suspect most people expect they will be resolved in a way that affects them very little if at all (and I suspect they are right); and
b) if there really were a move away from Bitcoin I can't see why it would be to UNO - apart from being SHA-256 it is not exactly very similar.  As I have said before I think it far more likely that LTC would step up - decent market cap, decent liquidity, strong network, etc..

[siameze]

Why is less inflation an advantage?  

Cause the sell pressure is not high. We have an ultra low inflation rate but still more than 800 TH/s and a good working network. That's good!

It would be easy to rise the exchange rate to 0.01, you only need a few BTC. If many buy, it might come up to 0.1 soon.

But there is no need to rise it too soon. We like the low prices.  

That is one characteristic of a low inflation schedule, but another is that it is now impossible to mine any material quantity - perhaps one reason we have such concentrated holdings.  I am not wholly convinced that the very front loaded distribution (and extremely long tail) is an advantage, but I haven't given it a great deal of thought.

I'm not sure what the network cost of UNO is now - but I would imagine the cost per UNO transaction is now astronomical - huge difficulty, few transactions.

In the last 100 blocks - 5 blocks had 2 transactions and one had 3, the rest only had the single coinbase transaction.  So 100 blocks of mining for 7 "real" transactions ...

You are right, but don't forget we can do the merged mining together with bitcoin, so mining is not too expensive!

Quite - and hence UNO is now totally dependent upon Bitcoin - it seems highly unlikely that a move away from Bitcoin will be to UNO.

Same as Bitcoin then?  Except you have to buy Bitcoin first to do it.

I think Uno will rise, when Bitcoin gets forked. Forking means inflation + loss of trust.

- Bitcoin Core
- Bitcoin Classic
- Bitcoin Unlimited

This will lead to irritations. Which Bitcoin is the right Bitcoin?

The people will panic and search for a life boat. There it is: non-inflatable Uno

So it's similar, but not the same. Unobtanium is more stable and has more potential to rise!

Not relevant to my point that to use UNO, you have to first buy BTC.

As for the Bitcoin discussions around blocksize, lightning networks, sidechains, segregated witness, etc. yes I agree they are confusing for many, but:

a) I suspect most people expect they will be resolved in a way that affects them very little if at all (and I suspect they are right); and
b) if there really were a move away from Bitcoin I can't see why it would be to UNO - apart from being SHA-256 it is not exactly very similar.  As I have said before I think it far more likely that LTC would step up - decent market cap, decent liquidity, strong network, etc..

Well at least there is no need to change UNO block size since the amount of tx is small at this time. I still have a lot of study to do on the MM equation. Also the peer discovery code is beyond mangled, UNO being in a better position than Pr however as there are more broadcasting nodes. While Electrum wallets are fine for certain use cases, using any SPV wallet raises question as to how much you trust your bloom filters. I prefer a full node that verifies all transactions.

[Zelig]

Why is less inflation an advantage?  

Cause the sell pressure is not high. We have an ultra low inflation rate but still more than 800 TH/s and a good working network. That's good!

It would be easy to rise the exchange rate to 0.01, you only need a few BTC. If many buy, it might come up to 0.1 soon.

But there is no need to rise it too soon. We like the low prices.  

That is one characteristic of a low inflation schedule, but another is that it is now impossible to mine any material quantity - perhaps one reason we have such concentrated holdings.  I am not wholly convinced that the very front loaded distribution (and extremely long tail) is an advantage, but I haven't given it a great deal of thought.

I'm not sure what the network cost of UNO is now - but I would imagine the cost per UNO transaction is now astronomical - huge difficulty, few transactions.

In the last 100 blocks - 5 blocks had 2 transactions and one had 3, the rest only had the single coinbase transaction.  So 100 blocks of mining for 7 "real" transactions ...

You are right, but don't forget we can do the merged mining together with bitcoin, so mining is not too expensive!

Quite - and hence UNO is now totally dependent upon Bitcoin - it seems highly unlikely that a move away from Bitcoin will be to UNO.

Same as Bitcoin then?  Except you have to buy Bitcoin first to do it.

I think Uno will rise, when Bitcoin gets forked. Forking means inflation + loss of trust.

- Bitcoin Core
- Bitcoin Classic
- Bitcoin Unlimited

This will lead to irritations. Which Bitcoin is the right Bitcoin?

The people will panic and search for a life boat. There it is: non-inflatable Uno

So it's similar, but not the same. Unobtanium is more stable and has more potential to rise!

Not relevant to my point that to use UNO, you have to first buy BTC.

As for the Bitcoin discussions around blocksize, lightning networks, sidechains, segregated witness, etc. yes I agree they are confusing for many, but:

a) I suspect most people expect they will be resolved in a way that affects them very little if at all (and I suspect they are right); and
b) if there really were a move away from Bitcoin I can't see why it would be to UNO - apart from being SHA-256 it is not exactly very similar.  As I have said before I think it far more likely that LTC would step up - decent market cap, decent liquidity, strong network, etc..

Well at least there is no need to change UNO block size since the amount of tx is small at this time. I still have a lot of study to do on the MM equation. Also the peer discovery code is beyond mangled, UNO being in a better position than Pr however as there are more broadcasting nodes. While Electrum wallets are fine for certain use cases, using any SPV wallet raises question as to how much you trust your bloom filters. I prefer a full node that verifies all transactions.

What if there was a flight to UNO?  What is the UNO blocksize?  How many transactions per second can UNO accommodate?  I understand BTC can accommodate 3 per second at present - is that correct?

To Tertius' point - if Bitcoin fails - I see the majority of people losing faith in cryptos all together and going outside of the crypto-world. 

Z

[FallingKnife]

I appreciate the thoughtful discussion here.

Bitcoin is one experiment in cryptocurrency. Unobtanium is another.  
The shared technology for sovereign currencies is ink on paper, yet they are each different in terms of inflation, policy, distribution and the economies that back them.  And there are lots of them. Many of them failed throughout history.

Some people think there is only a need for one cryptocurrency, and that it should be Bitcoin.  By extension, those folks probably also think there is need for only one sovereign currency. Perhaps there is no practical or "innovative" use for any currency other than the US Dollar.  China and Russia should just give up and use USD. Euro block has problems so just use USD.  Canada, no need for your alternate dollar. Britain, stop printing pound sterling. There is no need for any of it.

For thoughtful people who care about inflation and distribution, then Uno is perhaps an interesting experiment.  There is nothing that is being built for Bitcoin that could not be transferred to any other cryptocurrency if an opportunity should warrant it.

Just because the world already has the US Dollar doesn't mean I don't see a place for Bitcoin.
In the same vein, just because the world has one cryptocurrency experiment, doesn't mean that others can't be interesting.

UNO is not the same as Bitcoin (just as a printed US dollar bill is not the same as an Australian dollar).  Though the tech is the same, their characteristics are different.

We are still very, very early in the cryptocurrency era. It truly has not even yet begun. A $6 billion marketcap is practically zero when measured against the USD.  250k cap is also zero.  I don't know what or if anything is going to come of Bitcoin or Unobtanium, but I still want both experiments to continue.  And to the extent that this community backs Uno and gives itself a tiny bit of sovereignty from those that run Bitcoin... that is also interesting to me.

[siameze]

I appreciate the thoughtful discussion here.

Bitcoin is one experiment in cryptocurrency. Unobtanium is another.  
The shared technology for sovereign currencies is ink on paper, yet they are each different in terms of inflation, policy, distribution and the economies that back them.  And there are lots of them. Many of them failed throughout history.

Some people think there is only a need for one cryptocurrency, and that it should be Bitcoin.  By extension, those folks probably also think there is need for only one sovereign currency. Perhaps there is no practical or "innovative" use for any currency other than the US Dollar.  China and Russia should just give up and use USD. Euro block has problems so just use USD.  Canada, no need for your alternate dollar. Britain, stop printing pound sterling. There is no need for any of it.

For thoughtful people who care about inflation and distribution, then Uno is perhaps an interesting experiment.  There is nothing that is being built for Bitcoin that could not be transferred to any other cryptocurrency if an opportunity should warrant it.

Just because the world already has the US Dollar doesn't mean I don't see a place for Bitcoin.
In the same vein, just because the world has one cryptocurrency experiment, doesn't mean that others can't be interesting.

UNO is not the same as Bitcoin (just as a printed US dollar bill is not the same as an Australian dollar).  Though the tech is the same, their characteristics are different.

We are still very, very early in the cryptocurrency era. It truly has not even yet begun. A $6 billion marketcap is practically zero when measured against the USD.  250k cap is also zero.  I don't know what or if anything is going to come of Bitcoin or Unobtanium, but I still want both experiments to continue.  And to the extent that this community backs Uno and gives itself a tiny bit of sovereignty from those that run Bitcoin... that is also interesting to me.

Though my vision of UNo ( and crypto in general) differs from a lot of folks here, I still see potential for it despite all the hiccups. In development circles though I believe bigger isn't always better - hence why I intend on putting my node on a diet this year and see what results get barfed up.

[Zelig]

I appreciate the thoughtful discussion here.

Bitcoin is one experiment in cryptocurrency. Unobtanium is another.  
The shared technology for sovereign currencies is ink on paper, yet they are each different in terms of inflation, policy, distribution and the economies that back them.  And there are lots of them. Many of them failed throughout history.

Some people think there is only a need for one cryptocurrency, and that it should be Bitcoin.  By extension, those folks probably also think there is need for only one sovereign currency. Perhaps there is no practical or "innovative" use for any currency other than the US Dollar.  China and Russia should just give up and use USD. Euro block has problems so just use USD.  Canada, no need for your alternate dollar. Britain, stop printing pound sterling. There is no need for any of it.

For thoughtful people who care about inflation and distribution, then Uno is perhaps an interesting experiment.  There is nothing that is being built for Bitcoin that could not be transferred to any other cryptocurrency if an opportunity should warrant it.

Just because the world already has the US Dollar doesn't mean I don't see a place for Bitcoin.
In the same vein, just because the world has one cryptocurrency experiment, doesn't mean that others can't be interesting.

UNO is not the same as Bitcoin (just as a printed US dollar bill is not the same as an Australian dollar).  Though the tech is the same, their characteristics are different.

We are still very, very early in the cryptocurrency era. It truly has not even yet begun. A $6 billion marketcap is practically zero when measured against the USD.  250k cap is also zero.  I don't know what or if anything is going to come of Bitcoin or Unobtanium, but I still want both experiments to continue.  And to the extent that this community backs Uno and gives itself a tiny bit of sovereignty from those that run Bitcoin... that is also interesting to me.

The dollar may be a standard of comparison, but when you travel to France, you don't spend the US dollar, when you travel to China, you don't use the US dollar, when you travel to Australia, you don't use the US Dollar, when you travel to Mex... you get the point.  These are National currencies. Bitcoin could truly be an universal currency.  And, in that sense, how many of those do you need?  Having multiple universal currencies kinda reduces their universal-ness (doesn't it). 

Don't get me wrong.  I've been holding UN for a long time (in altcoin time, at least), I'm continuing to accumulate, and yes... it is an interesting discussion.  

Z

[BitcoinNational]

and the beauty of digital
is that it shapeshifts into whatever you need to pay in ... instantly.

National currencies, 300 or so.
Digital currencies, could potentially number in 100s of 1000s, not unlike mortgages or at least CDOs, how many financial products are out there in the legacy system?  There will be more the digital realm if finance actually really flips to true decentralization.  And if UNO can hold rank as one of the originals!  Call me a dreamer  

re: https://en.wikipedia.org/wiki/List_of_currencies

1. nearly all started out as metal based coins (bullion with a standard of measure) ... the notes are were once claims checks on the coins ... not unlike Gox or Crypsty iouBTC notes  

2. i don't know of any that are not 'just bank paper' now, redeemable for nothing, none publish a 'blockchain', none have a public record of daily inflation (newly printed money)

[FallingKnife]

I appreciate the thoughtful discussion here.

Bitcoin is one experiment in cryptocurrency. Unobtanium is another.  
The shared technology for sovereign currencies is ink on paper, yet they are each different in terms of inflation, policy, distribution and the economies that back them.  And there are lots of them. Many of them failed throughout history.

Some people think there is only a need for one cryptocurrency, and that it should be Bitcoin.  By extension, those folks probably also think there is need for only one sovereign currency. Perhaps there is no practical or "innovative" use for any currency other than the US Dollar.  China and Russia should just give up and use USD. Euro block has problems so just use USD.  Canada, no need for your alternate dollar. Britain, stop printing pound sterling. There is no need for any of it.

For thoughtful people who care about inflation and distribution, then Uno is perhaps an interesting experiment.  There is nothing that is being built for Bitcoin that could not be transferred to any other cryptocurrency if an opportunity should warrant it.

Just because the world already has the US Dollar doesn't mean I don't see a place for Bitcoin.
In the same vein, just because the world has one cryptocurrency experiment, doesn't mean that others can't be interesting.

UNO is not the same as Bitcoin (just as a printed US dollar bill is not the same as an Australian dollar).  Though the tech is the same, their characteristics are different.

We are still very, very early in the cryptocurrency era. It truly has not even yet begun. A $6 billion marketcap is practically zero when measured against the USD.  250k cap is also zero.  I don't know what or if anything is going to come of Bitcoin or Unobtanium, but I still want both experiments to continue.  And to the extent that this community backs Uno and gives itself a tiny bit of sovereignty from those that run Bitcoin... that is also interesting to me.

Bitcoin could truly be an universal currency.  And, in that sense, how many of those do you need?  Having multiple universal currencies kinda reduces their universal-ness (doesn't it).    

Z

I don't know how many we need.  But is it perfect?  Is this all we need?  Are 10 minute blocks just fine?  Is the inflation rate for Bitcoin absolutely perfect? Is it always perfect for everyone, everywhere, for all time and no further experimentation is required?  Is the technology settled? Who will decide? Chinese miners?  You have a lot more say about what goes on in this community than in Bitcoin. Or the US Dollar.  

UNO is an experiment.  Bitcoin is an experiment. They are similar in some ways and different in others.

When we have one world government, one law for everyone, then we will have our universal currency.  To issue any kind of token or currency is the ability to exercise sovereignty. Of course that's why the Europeans have the Euro, and the Canadians have their dollar.  That's also why Cryptostan has UNO and other cryptocurrencies.  Bitcoin is not perfect, and its not finished. Its vulnerabilities are becoming clearer.  And if Wall Street and venture capitalists and governments and those Facebook twins (forget their names) are going to take over Bitcoin, then its not a bad thing if they disover that the water can run someplace else. I don't know if it will run to Uno, but I still think UNO is an interesting experiment in its own right. The longer it continues, the more interesting it becomes to me.

The point I'm trying to make... there's no need for Bitcoin fanbois to hate on UNO or other cryptocurrencies.  Each will eventually succeed or fail on their own, just like Bitcoin.   This is all experiment, and these are still the earliest days of the experiment. Bitcoin might very well end up being the only global cryptocurrency. How convenient that would be for governments all over the world: one throat to choak.    It certainly might, but I don't think its entitled to just because it was first.  It could end up that we discover that Bitcoin or Unobtanum is exactly what the world does not need, thank God one of the 1000 other experiments out there was absolutely the right one. We'll see.

[FallingKnife]

Just found another new exchange with UNO.

https://btcpool.exchange/Market?pair=UNO/BTC

The engrish is not sending me trust signals. I hope for the best for all who trade there. Maybe they'll become Uno's top market. Just be wary until they develop a rep, and then be wary.

[siameze]

Just found another new exchange with UNO.

https://btcpool.exchange/Market?pair=UNO/BTC

The engrish is not sending me trust signals. I hope for the best for all who trade there. Maybe they'll become Uno's top market. Just be wary until they develop a rep, and then be wary.

Exchange IP resolves to a hosting provider in France. Have never heard of this place before myself.