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

[edgar]

So, we are both looking to buy. But check Un-ex right now. I will add an offer to sell 10 UNO for .04.

You then post 'I accept Trade xyx,' and PM me your UNO addie.

Go!

m.

I'm trying to understand exactly what you all are doing.  So if someone agrees to your offer, you send him 10 UNOs and he sends you .04 BTCs?

Jelks

it IS a bit confusing, i agree. but i think its just the early days of experimentation.

i have received 10 UNO & am now awaiting directions/BTC address for sending payment...

unless they were a special complimentary trial gift bonus offer.

[IMZ]

Wa ha ha ha . . . No, bummer for you, Edgar. They weren't a promotional development giveaway faucet thingie. .04 will shortly turn up in my BTC wallet. Then I shall PM you: 'Trade X123 complete.'

Then you get added to the Trusted Traders List -- one star!!

I betcha all a bottle of cold stout that by Christmas this gig is raging -- trading UNO, trading silver, developing trust, implementing theory.

m.

[IMZ]

Hey, Jelks! Great info on mining.

Wanna practice 'trading':

3 UNO giveaway to Jelks (G001): you PM me your UNO address. I send you 3 UNO. You post (in the thread) 'G001complete' (But no one-star rating yet!!)

Note that my signature has both BTC and UNO addresses. (not problematic?)

m.

[IMZ]

@ Edgar: Trade X123 complete

[BitcoinNational]

What does "Profitability" mean when it comes to mining?

Interestingly, when I tell Multiminer (using Coinwarz) to choose based on "Difficulty" vs. "Profitability", it picks UNO as the one to go with.  I don't know if that means it's the most difficult or the least difficult, LOL.

Jelks

_{NOTICE using much non technical and non scientific methods in explanation}

"Profitability" is the amount you can mine (say at 1TH for one day) less the cost of running said 1TH rig.  Coinwarz has some fancy math that calculates this constantly.  Now if you mine UNO you'll likely not end up making much money if you are just going to sell immediately.  The price is too low and the rewards are now low.  So you can make $1 mining but spend $25 on the rigs.  

But have you noticed how few coins are listed on coinwarz?  Well I am one to believe that if a coin gets coinwarz listed then invest in it ... because it has secured a future via mining.  Why?  Exact reason Jelks is here.  

The "Profitability" feature of coinwarz is a must use for any 'PRO' miners and most 'amateur/hobby' miners.  It is automatic.

For the SHA coins the profitability model shows most of them near BTC but always a little less than BTC.  So most the machines all mine BTC, but what if the price suddenly rises in UNO?  Instantly and automatically all the "Profitability" machines go to UNO.  (or what ever coin shoots up in price - look at the scrypt coins - they all play musical chairs on the "Profitability" feature)

Then the "Difficulty" factor kicks in.  It will shoot up and "Profitability" drops - cuz it harder to mine. [LOOP]

Now the problem is too much Hash all aimed at BTC, in fact it is a SHA256 mantra "There is no coin but bitcoin".

Which is true-ish but so boring.  And there are lots of problems with that thinking and it is not in the long term interest of the SHA miners to just mine BTC.

First - now BTC is so far ahead in hash power that it is impossible for a new sha network to develop.  UNO is in a wierd area on this one.

UNO has enough hash power that if you did attack it it would cost $$$$ to do such, it be better if it cost $$$$$$$.  But most sha coins can be attacked by running a 1TH machine.  But UNO has been running ahead in a bubble where few notice it but yet always gaining hash power so that it gonna take some real $$$$ to attack.  There are only a couple SHAs in a position like UNO and it might be wise to start acquiring a few too. (UNO is out hash-powering Zeta)

Second - lets imagine that the hash power of SHA256 is double but the price of BTC is not doubled.  That looks to be the very near future. So that means BIG and now CHEAPer rigs will likely start mining alt SHA256 - cuz why not?    

This pushes "Diff" up - that in theory pushes exchange prices up.  In UNOs case it is nearly a sure thing. [LOOP]

Right now small but dedicated communities are forming around alt SHA coins.  UNO is by far the most active among them.  So far the 'amateurs' miners have pushed up the "difficulty" (& 'amateur' investors have kept the prices stable and it looks like us 'amateurs' will have to push up the "profitability" by buying the limited amount of new UNO).   At $2-$8/uno ... no problem.  Now that is happening ... what happens next?  

The 'PROs' take notice and 'boom goes the dynamite'!  

The big rig guys say, "You know UNO looks like it could rise rapidly and BTC has been stagnant - so lets take a small but very calculated risk - and mine UNO until the "profitability" of BTC returns." [LOOP]  

The investor big whales say, "UNO looks like it could rise rapidly and BTC has been stagnant - so lets take a small but very calculated risk - and buy 50 UNO until the "profitability" of BTC returns." [LOOP]

[BitcoinCharlie]

@ Falling Knife: your 'call' for concerted buying is a tactic we argued for in the Yacoin community a full year ago. IndiaMikeZulu will conform to calls for concerted action from competent Uno-vians. (We had the idea that everyone simply keep a pinch of Bitcoin to hand to 'buy in' when the price drops. This concerted action will create a remarkable steadiness of price.)

Good news me!!

woo hoo!! I'm a journalist -- gotta figure out how to fit Uno in:

http://bithub.co.kr/n_news/board/view.html?page_code=comu&board_code=20140823234933_9990&no=2

m.

I like the idea of concerted buys, how do we accomplish that in real time?

[IMZ]

@ Bitcoin Charlie: hmmm . . . I'm not sure such action needs to be in real time in the minute-by-minute sense.

Here's my first thought (goes back to the Yacoin days): if 20 Unovians held in reserve just $50 worth of Btc, and then a flash crash happened (we gotta formulate community strategies for this eventuality . . . if it is part of The New Terrain), and then everyone piled in, and bought UNO with that stashed BTC, we would end up with a 365-day graph that was the envy of the whole crypto sphere!!

'Price-independence' is what we make it!! In this case, it's a community tactic. However, as we create more 'stabilisers' -- like both automated and P2P fiat-UNO facilities -- Unobtanium will gain 'unforced' resistance. It's a self-fulfilling prophecy, Btc Charlie: if we show ourselves to be 'resistant' to BTC price-drops, then people will gravitate to us, and we will become, in the mid-term, truly resistant.

m.

[FallingKnife]

Someone unloaded 500 Un on Cryptsy today, but Un is still hanging in there around 004 across the exchanges. Still a thin order book on both the sell and buy sides.

[BitcoinCharlie]

@ Bitcoin Charlie: hmmm . . . I'm not sure such action needs to be in real time in the minute-by-minute sense.

Here's my first thought (goes back to the Yacoin days): if 20 Unovians held in reserve just $50 worth of Btc, and then a flash crash happened (we gotta formulate community strategies for this eventuality . . . if it is part of The New Terrain), and then everyone piled in, and bought UNO with that stashed BTC, we would end up with a 365-day graph that was the envy of the whole crypto sphere!!

'Price-independence' is what we make it!! In this case, it's a community tactic. However, as we create more 'stabilisers' -- like both automated and P2P fiat-UNO facilities -- Unobtanium will gain 'unforced' resistance. It's a self-fulfilling prophecy, Btc Charlie: if we show ourselves to be 'resistant' to BTC price-drops, then people will gravitate to us, and we will become, in the mid-term, truly resistant.

m.

In support of this measure, I've already deposited to cryptsy, coinbroker, mintpal and bittrex and hope that anyone else who can does. I'm always glad to pick up some more UNO...

Not to sound like a central bank, but is there a gradual increase in the floor price we would like to achieve over a period of time? We could do so by setting up buys to buy up any UNO put on the market at the "cheap" prices at various exchanges.

[sirsmokesalot]

@ Bitcoin Charlie: hmmm . . . I'm not sure such action needs to be in real time in the minute-by-minute sense.

Here's my first thought (goes back to the Yacoin days): if 20 Unovians held in reserve just $50 worth of Btc, and then a flash crash happened (we gotta formulate community strategies for this eventuality . . . if it is part of The New Terrain), and then everyone piled in, and bought UNO with that stashed BTC, we would end up with a 365-day graph that was the envy of the whole crypto sphere!!

'Price-independence' is what we make it!! In this case, it's a community tactic. However, as we create more 'stabilisers' -- like both automated and P2P fiat-UNO facilities -- Unobtanium will gain 'unforced' resistance. It's a self-fulfilling prophecy, Btc Charlie: if we show ourselves to be 'resistant' to BTC price-drops, then people will gravitate to us, and we will become, in the mid-term, truly resistant.

m.

This idea makes sense, it is actually a really good idea. It is sort of why i like "centralization" even though it is the dirty word in the crypto world. If we centralized our efforts, the whole is greater than the sum of it's parts sorta thing. I like teamwork and group contributions. I ain't cray cray about people who take and take and never offer anything though.

I am thinking as i type this and as i am thinking about this it plays out more like a mutual fund than a bank. We pool our coins, someone who is decent with trading watches the markets and buys low and sells high, while trying to maintain a price, I.e Set walls about 0035. Person wouldn't sell for less than that, big buy wall there, buys up to 0045 for a week or two until those orders begin to dry up. Bump the wall up to 45 and buys uno up to 55. Rinse and repeat. I don't have enough btc to do this. In my mind, i think with about 25btc we could bring the price up and have it stabilized @ 008 with the 25. That would leave enough btc to set up some nice buy walls. The only issues there are, if no one wants the uno after it is bought it. Just because a handful of us want it there, doesn't mean that is the price everyone is willing to pay for it. Even more so when they get the coin and then realize they can either A) sit on it hoping it increases in value or B) sell it when it increases in value to try to buy more uno with, or what ever. That is always the issues i come back to. Eventually people are going to want cash money, or material goods for their uno. We have to face the reality that we are still a good decade away from crypto being used in day to day life for the majority.

I hate thinking about how to raise the price of uno, because there is no way to sustain that price.

I get it, it is me being greedy, the price is fine where it is at, unless you want to be rich from uno. Really though, it seems like any efforts put forth to help raise the value would be easily undermined by day traders looking to make a quick buck. We need to remember most of the people in crypto are locusts, looking to pick things clean and move onto the next coin. Hell i am guilty of it my self.

Which all revolves around price independence. Bitcoin only achieved that due to the silkroad. It was being able to turn your digital gold into drugs, which have real value on the streets, that gave value to bitcoin to begin with. At least imo it is. If the silkroad didn't exist, i really, 100% believe, btc would not be where it is. Drugs are a commodity, and people were willing to exchange those commodities for btc, which gave it value. The silkroad is the only thing btc had that a lot of other coins didn't have.

The cruelest paradox of this whole "decentralized form of currency" (which makes me fuckin cringe every time i hear it or read it) is that you need INTERNET access. Which is VERY centralized. We don't all emit wifi signals and shit. We all pay providers to hook us up to the internet. Firstly, we need to decentralize the internet and access to the internet before we can ever consider a decentralized currency. What will stop ISPs from just blocking traffic? Then people use the means out there to get around that, until the ISPs just cut service to those people, then how much use are your cryptos going to be? That is what keeps me from emptying my bank account and spending anything more than gambling money on crypto. It relies upon too many other things to stand on it's own. This "decentralized" thing is a joke imo. And also, has anyone re-purposed asic sha miners for brute forcing passwords yet and stuff? That always comes to mind, is it possible to do that? I love the ideas and concepts behind all of this stuff, but a lot of what people are selling is a very tough buy for me. I don't see it as impossible, i just don't see the world being ready for crypto yet.

[cryptapus]

Greetings,

A new wallet for Unobtanium, jswallet:

http://cryptap.us/uno/jswallet

A fork of RushWallet, this may work well for iOS/Android/any devices. No hot wallets, this wallet is a random brainwallet stored as a url. Makes for easy disposable wallets. This is beta for now...

Feedback is welcome.

Regards,

Edit: price shown is now from Mintpal instead of Cryptsy.

[Benefactor]

I would like to voice my dissent at being referred to as an 'unovian'.  I don't like it.  Too odd, and reflects poorly on the "Unobtanium community" and the "Unobtanium community members", diluting the very real power, intrinsic value, and dignity in those spelled out words, IMHO.

Might pay off to take the effort and write out the full terms.  

Please be cognizant of good PR and poor.

[111magic]

I need some advice please:
My wallet is stuck at Block 499205. Have wallet 0.9.5  

addnode=rockchain.info
addnode=coinex.pw
addnode=p2pool.org
addnode=23.20.113.24:65534
addnode=23.99.3.224:1096
addnode=23.109.89.50:65534
addnode=67.163.169.101:65534
addnode=67.184.53.170:49951
addnode=68.119.104.16:65534
addnode=78.107.232.63:59480
addnode=81.82.248.205:65534
addnode=88.198.69.99:65534
addnode=95.85.33.12:36337
addnode=107.170.63.157:65534
addnode=108.61.10.90:65534
addnode=139.228.235.176:65534
addnode=144.76.166.163:65534
addnode=178.32.55.67:65534
addnode=188.226.239.21:65534
addnode=190.202.17.114:63279
addnode=192.186.133.74:65534
addnode=192.210.146.143:65534
addnode=192.241.254.222:65534
addnode=207.119.79.6:50245
addnode=212.18.50.157:65534
addnode=223.204.76.24:50353


Correct or wrong?

[BitcoinCharlie]

I would like to voice my dissent at being referred to as an 'unovian'.  I don't like it.  Too odd, and reflects poorly on the "Unobtanium community" and the "Unobtanium community members", diluting the very real power, intrinsic value, and dignity in those spelled out words, IMHO.

Might pay off to take the effort and write out the full terms.  

Please be cognizant of good PR and poor.

+1

I prefer a more formal approach. We are a differentiated currency and should market that way...

[FallingKnife]

I need some advice please:
My wallet is stuck at Block 499205. Have wallet 0.9.5  

addnode=rockchain.info
addnode=coinex.pw
...

Correct or wrong?

Wrong.    That's a very old addnode list.

If you are using 0.9.5 you most likely will not need any addnodes. But if you do, get them from the opening paragraph of this thread (ie post #1), scroll down toward the bottom and you'll find them.  

I'd post them here, but I prefer that people always get them from the opening paragraph, as we try to keep those fresh. Anything that I would post in a message will eventually become outdated.

Oh no, I feel a meme coming on...

[IMZ]

@ Benefactor and Bitcoin Charlie: apologies to you. Formal is good!

M.

[BitcoinCharlie]

@ Benefactor and Bitcoin Charlie: apologies to you. Formal is good!

M.

No worries, thanks for all of your great ideas and all you are contributing to the cause!

BTW, under your internal trading program, if I were wanting to buy some UNO with a 1 ounce silver round, would that type of listing be allowed?

[IMZ]

@ Btc Charlie:

tl;dr: you can advertise most anything you like on our exchange!

The touchstone seems to be 'the national thing.' For example, Perth Bullion insures the products it mails. There are some . . . ummm . . . oddities about the regulations on mailing bullion here is Oz (ask me to PM if you want details). But the bottom line is that this company can have bullion delivered safely and cheaply all over the continent.

But if we trade among ourselves, the bullion is uninsured in the mail. I have (tee hee hee) 'researched' this: here in Oz, and on a small quantity of silver (I really like the idea of 1-oz silver ingots!), the risk of mailing the article is well within bounds.

However -- and I mean no disrespect -- I wouldn't mail bullion through, say, Indonesia or India's postal systems.

And don't forget 'the premium issue': if you pay ten bucks to mail a thirty-dollar ingot, that's a hefty 'premium.'

Let's just do it! Let's develop multi-faceted 'national chapters' through which we can facilitate a wide range of activities: meetups to trade bullion and UNO, trade of any articles that can be mailed, the gathering of relevant 'domestic' information, and on-da-street development of our merchant network.

m

[IMZ]

Un-Ex

26/08/2014 Western Australia

Price: .004
Daily volume (CMC, most recent last): .15%,.1%,.6%

https://www.cryptsy.com/markets/view/133
https://www.mintpal.com/market/UNO/BTC

Trusted Traders:

# Wickedsick, one star
# IndiaMikeZulu (Mark), one star
# Edgar, one star

I offer to buy 10 UNO for .04 BTC (Trade X001)

Physical-Bullion Sales in Australia:
Discussions with a reputable Australian bullion dealer are underway. I sold a ten-oz bar for Bitcoin last month. Any Australian want to buy a 10-oz bar of silver for about $AU 250 worth of UNO?

Mark (IndiaMikeZulu), Australia

[BitcoinNational]

Let's just do it! Let's develop multi-faceted 'national chapters' through which we can facilitate a wide range of activities: meetups to trade bullion and UNO, trade of any articles that can be mailed, the gathering of relevant 'domestic' information, and on-da-street development of our merchant network.

m

wow!  I have been rolling this exact thought around in my noodle.  And yes, I was stuck on the 'national thing' problem for an international crypto.  So "national nodes" that can provide a "good" within a postal code.  Perth had also been on my radar, but this revelation on Oz mail security is amazing.  My take is that anyone/anywhere can back the offer of xcoin=1oz but the terms are for national shipping only.   The key is reputable dealers, as Mark has already clued in.  _{(Funny again I am working on same thought but here the reputable dealers speak Mandrin and maybe also offering luxury holiday package in combo for foreigners inclined to collect in person)}