[ANN][URO] A Real Long Term Currency: 1 Uro = 1 Metric Tonne Urea Fertilizer

[corather]

It also works the other way around, you can bet the price will fall. Like a short sale on stocks.

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[solid12345]

It also works the other way around, you can bet the price will fall. Like a short sale on stocks.

Which is why URO could radically change the crypto landscape. Imagine big boy Bitcoin traders hedging in URO in case Bitcoin falls, and when BTC rises they sell their URO for Bitcoin. This is how you build a functioning crypto economy.

[Liquid71]

You guys have any videos of Mr. Nilesh Nair? I would love to hear him speak. There must be about 100s of people interested to hear from him speak about his company's part in the URO Foundation.

I'm sure he would be able to grace his loyal investors some face time, even just a teeny weeny bit.

I believe the signatories to the URO protocol will stay away from this forum or for that matter any other activity that makes it appear like they are promoting URO in any way. Their job is simply to accept 1 URO as payment for 1 ton of urea. As soon as they start promoting the coin, people start assuming that they own a ton of URO and it starts looking kind of fishy.

They have nothing to do with URO the same way Pepsi has nothing to do with dollars. Their job is to simply accept 1 URO as payment for 1 ton of urea and that's it.

Exactly! And just like Pepsi pays their workers who produce Pepsi with the dollars they made selling it, the producers of Urea will get paid in URO. It's simple economic  

I think the producers will sit on the Uro they are paid with till the price is equivalent to the Urea they sold. These companies are in a multibillion dollar industry and sitting on some coins for a while is not a hardship. They all signed the Uro Protocol knowing they would be paid in Uro. They are not getting cheated out of the value of their Urea like you seem to imply. Additionally Uro-Urea transactions will probably account for a very small percentage of their total Urea sales.

commodity producers have huge   margins   , so I guess if you believe that it's plausible for them to sell Urea at a huge loss in the hopes of recouping that money at a later date.
But even under that scenario once they sell the Uro on the exchange for a fair market value they owe more Urea to the buyer of the Uro so they don't recoup the losses.
So no matter what they are losing millions of dollars since the minimum order is 12,500 tons and there is no way to recoup that money if they accept Uro and don't currently own Uro to profit from the price appreciation..in which case it's more likely to be a pump and dump anyway.

The 10,000 Bitcorn pizza was also a risk. And it turned out it was a scam.

It wasn't millions of dollars of pizza..

[Liquid71]

You guys have any videos of Mr. Nilesh Nair? I would love to hear him speak. There must be about 100s of people interested to hear from him speak about his company's part in the URO Foundation.

I'm sure he would be able to grace his loyal investors some face time, even just a teeny weeny bit.

I believe the signatories to the URO protocol will stay away from this forum or for that matter any other activity that makes it appear like they are promoting URO in any way. Their job is simply to accept 1 URO as payment for 1 ton of urea. As soon as they start promoting the coin, people start assuming that they own a ton of URO and it starts looking kind of fishy.

They have nothing to do with URO the same way Pepsi has nothing to do with dollars. Their job is to simply accept 1 URO as payment for 1 ton of urea and that's it.

Exactly! And just like Pepsi pays their workers who produce Pepsi with the dollars they made selling it, the producers of Urea will get paid in URO. It's simple economic  

I think the producers will sit on the Uro they are paid with till the price is equivalent to the Urea they sold. These companies are in a multibillion dollar industry and sitting on some coins for a while is not a hardship. They all signed the Uro Protocol knowing they would be paid in Uro. They are not getting cheated out of the value of their Urea like you seem to imply. Additionally Uro-Urea transactions will probably account for a very small percentage of their total Urea sales.

commodity producers have huge   margins   , so I guess if you believe that it's plausible for them to sell Urea at a huge loss in the hopes of recouping that money at a later date.
But even under that scenario once they sell the Uro on the exchange for a fair market value they owe more Urea to the buyer of the Uro so they don't recoup the losses.
So no matter what they are losing millions of dollars since the minimum order is 12,500 tons and there is no way to recoup that money if they accept Uro and don't currently own Uro to profit from the price appreciation..in which case it's more likely to be a pump and dump anyway.

Your response seems to suggest you haven't read this thread or any of the sites the dev has linked to. The following is on the uro foundation site:

Policies in Philanthropy: For the NIERs – Uro is not a sale, Uro is not something that fits the metrics of what that the Urea trading firms will pay for as an expense or an investment. for the NIERs – the best category for Uro to fit in is as part of the philanthropic and R&D activities these companies get involved in. Over the years – the NIERs have learned that handing out cash usually ends up with corrupt officials and middlemen absorbing the majority of the donations or funding – so the NIERs now have a policy: No cash handouts. This policy is the result of tens if not hundreds of millions of dollars in hard lessons learned from past charitable and R&D activities. The NIERs are fine with providing millions of tonnes of Urea knowing that it will go towards planting something that will help feed people in need, but not okay with providing funds so that Uro can be temporarily and artificially inflated in value on a currency exchange just so that a few early adopters can cash out.

So all your arguments mean nothing. The Urea set aside for this project go under the charitable and R&D heading. If this experiment works 1 Uro = price of 1 MT Urea and there is no losing of millions of dollars leading to company bankruptcy.

So can you explain how these NIERs can sell millions of dollars of Urea for a coin worth $5? If they have millions of dollars for charity why not distribute the Uro to the farmers IPO style for free, right now they are just donating to computer nerds not farmers. Your answer about the foundation doesn't explain anything. It's all good if you believe in fairy tales, just don't get in over your head.

[Liquid71]

You guys have any videos of Mr. Nilesh Nair? I would love to hear him speak. There must be about 100s of people interested to hear from him speak about his company's part in the URO Foundation.

I'm sure he would be able to grace his loyal investors some face time, even just a teeny weeny bit.

I believe the signatories to the URO protocol will stay away from this forum or for that matter any other activity that makes it appear like they are promoting URO in any way. Their job is simply to accept 1 URO as payment for 1 ton of urea. As soon as they start promoting the coin, people start assuming that they own a ton of URO and it starts looking kind of fishy.

They have nothing to do with URO the same way Pepsi has nothing to do with dollars. Their job is to simply accept 1 URO as payment for 1 ton of urea and that's it.

Exactly! And just like Pepsi pays their workers who produce Pepsi with the dollars they made selling it, the producers of Urea will get paid in URO. It's simple economic  

I think the producers will sit on the Uro they are paid with till the price is equivalent to the Urea they sold. These companies are in a multibillion dollar industry and sitting on some coins for a while is not a hardship. They all signed the Uro Protocol knowing they would be paid in Uro. They are not getting cheated out of the value of their Urea like you seem to imply. Additionally Uro-Urea transactions will probably account for a very small percentage of their total Urea sales.

commodity producers have huge   margins   , so I guess if you believe that it's plausible for them to sell Urea at a huge loss in the hopes of recouping that money at a later date.
But even under that scenario once they sell the Uro on the exchange for a fair market value they owe more Urea to the buyer of the Uro so they don't recoup the losses.
So no matter what they are losing millions of dollars since the minimum order is 12,500 tons and there is no way to recoup that money if they accept Uro and don't currently own Uro to profit from the price appreciation..in which case it's more likely to be a pump and dump anyway.

Your response seems to suggest you haven't read this thread or any of the sites the dev has linked to. The following is on the uro foundation site:

Policies in Philanthropy: For the NIERs – Uro is not a sale, Uro is not something that fits the metrics of what that the Urea trading firms will pay for as an expense or an investment. for the NIERs – the best category for Uro to fit in is as part of the philanthropic and R&D activities these companies get involved in. Over the years – the NIERs have learned that handing out cash usually ends up with corrupt officials and middlemen absorbing the majority of the donations or funding – so the NIERs now have a policy: No cash handouts. This policy is the result of tens if not hundreds of millions of dollars in hard lessons learned from past charitable and R&D activities. The NIERs are fine with providing millions of tonnes of Urea knowing that it will go towards planting something that will help feed people in need, but not okay with providing funds so that Uro can be temporarily and artificially inflated in value on a currency exchange just so that a few early adopters can cash out.

So all your arguments mean nothing. The Urea set aside for this project go under the charitable and R&D heading. If this experiment works 1 Uro = price of 1 MT Urea and there is no losing of millions of dollars leading to company bankruptcy.

Just aside from that a lot depends on what will be the URO price by the time they get their first minimum order size in. And even then by just holding the URO they received they can convert it to whatever other currency they want according to URO market price. So basically there would not need to be any loss for the NIERs

Yes but when they sell the Uro to recover the money spent on Urea, they now owe 12,500 more tons of Urea to back the Uro they sold thus they will lose on the first orders. If they are willing to lose millions why not just give the free fertilizer to the farmers in the form of Uro which would help the farmers which is supposedly the purpose of this experiment, and would promote adoption by the very people that are supposedly going to be using Uro.
Too many holes in the logic, not trying to fud if you made money great but none of this adds up. Good luck

[solid12345]

Yes but when they sell the Uro to recover the money spent on Urea, they now owe 12,500 more tons of Urea to back the Uro they sold thus they will lose on the first orders. If they are willing to lose millions why not just give the free fertilizer to the farmers in the form of Uro which would help the farmers which is supposedly the purpose of this experiment, and would promote adoption by the very people that are supposedly going to be using Uro.
Too many holes in the logic, not trying to fud if you made money great but none of this adds up. Good luck

Here is the solution. The second they trade 12,500 URO for a million tons of Urea and this is confirmed fact independently, immediately everyone will start buying up the order book shooting the price of URO through the roof. And what will GES be stuck with? 300 URO coins that may have been worth 5 dollars at trade but are now worth in the range of 100-300 USD so they recover at least a good portion of their investment back.

Anyway at the end of the day obviously these guys know the fertilizer business better than 95% of us here and 4 companies are willing to take a risk on it, clearly they think it has potential.

[CryptoTrout]

It seems we are at a standstill.

*mouth breathing intensifies*

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Until URO is listed on bitcoinwisdom here is a graph that is decent.  If anyone knows of another website that has good graphs and up to the second trades/value please post it.

http://altcoingraphs.com/mintpal/graphs/price/210

[timertrainer]

How are they losing?

Sell urea for uro -> price corrects itself on market to $300 -> sell uro on market for $300 price

[hpace]

This is possibly the dumbest thread I have ever read in my life.  I literally can't even.  People with valuable commodities are not going to give that value to you in exchange for made up internet currency just because you would like them to. 

I mean yikes.  I have no idea as to the authenticity of various "proof of backing" in this thread but assume it is low or meaningless.  I feel like we are watching auroracoin v2.  You guys are nuts.

lol agreed. if only we could short sell

[solid12345]

How are they losing?

Sell urea for uro -> price corrects itself on market to $300 -> sell uro on market for $300 price

Exactly, if the deal is real, they will be losing very little money, or if they do, it is the cost of doing business and they will profit greatly in the future to make up for it.

[kuchini]

Until URO is listed on bitcoinwisdom here is a graph that is decent.  If anyone knows of another website that has good graphs and up to the second trades/value please post it.

http://altcoingraphs.com/mintpal/graphs/price/210

https://cryptrader.com/charts/bittrex/uro/btc

&

https://www.coinigy.com/

They both use tradingview charts.

[stormia]

Not entirely sure what you are implying.. but consider this... since there was no premine or IPO, what does the dev/GES have to gain from a "scam"? They would have a lot more to lose than to gain since their identities are known and their professional reputations are on the line. They have the most to gain in the long term, when things come to full fruition.

I'm not saying that this is going to work out perfectly as idealized- and if you read the milestones as they are written out in the OP the devs don't expect this to happen overnight like many of the traders appear to implying and hoping for- but I have a lot of confidence that this company, which is clearly very successful, will be successful- to some degree- in this endeavor. Anybody who supports crypto should be behind this idea, because this is one of the directions crypto needs to move in if wider adoption is desired.

[DFJ]

This is possibly the dumbest thread I have ever read in my life.  I literally can't even.  People with valuable commodities are not going to give that value to you in exchange for made up internet currency just because you would like them to. 

I mean yikes.  I have no idea as to the authenticity of various "proof of backing" in this thread but assume it is low or meaningless.  I feel like we are watching auroracoin v2.  You guys are nuts.

lol agreed. if only we could short sell

I honestly am flabbergasted at this entire thing.  Let me spell it out.  There are TWO types of people.  One has a bunch of valuable urea.  The other has a bunch of made up internet coins.  The first group is NOT giving their urea to the other group at some arbitrary 1 uro = 1 metric tonne of urea exchange rate.  If you think they are, here is a brilliant idea for you:  go create another "commodity currency" which will cost you hardly anything.  Now go convince holders of that commodity to give you their commodity in return for your made up coins.  Apparently you think they will do this based on the hope that everyone else will arbitrarily agree to the exchange rate as well.  And they will be so excited by this idea that they will incidentally make a bunch of totally non-contributing nerds rich, those nerds who were "smart" enough to stock up on the coins.

Brilliant.  Every now and then I like to watch a massive, massive disaster.  Thanks guys.

And if you think "but wait! we already have companies signed up!" here is another clue: they either do not exist or will not come through.  No one is so flagrantly giving you something for nothing, because if they did they would be fired or out of business.  "Boss I got rid of all our urea for these awesome URO coins!"  "Brilliant!"

[bitcad4u]

Antoun and Samuel were the first to install two-way BTC ATM's in Europe & UK.  They are working alongside Diamond Circle (manufacturer) to integrate XC exclusively into Cashless BTC ATM's across Europe and UK.  (Cashless ATM's are faster than cash ATM's and can deal in any currency, including visa/debit cards, at a very marginal transaction fee ~.30%) 

As a part of the Cashless BTC ATM infrastructure, OneWallet cards will be used that can store up to 9 (fiat) currencies in addition to XC (exclusively) alongside BTC.  (You will be able to cash out at any cashpoint merchant, or simply exchange between currencies that are connected to your OneWallet card.  Additionally, you will be able to use VISA debit/credit cards on the ATM to buy and sell BTC & XC)

[DFJ]

What MIGHT work is if coins were created only in exchange for urea.  Then you have a private backer who gives 1 URO for 1 tonne urea and 1 tonne urea for one URO.  This type of structure has been discussed in other forums with respect to e.g. the dollar.  But then people complain that the currency is centralized.  And of course a bunch of random nerds don't get massive windfalls for absolutely no reason.

By the way this is how e.g. ETFs work.  But again, they don't create shares without assets and they don't make random people rich for no reason.  And here, no one is giving ownership of a hugely valuable amount of urea just because you are sitting (metaphorically) in your mom's basement running hashes.  Would YOU do that?  

[albertdros]

Antoun and Samuel were the first to install two-way BTC ATM's in Europe & UK.  They are working alongside Diamond Circle (manufacturer) to integrate XC exclusively into Cashless BTC ATM's across Europe and UK.  (Cashless ATM's are faster than cash ATM's and can deal in any currency, including visa/debit cards, at a very marginal transaction fee ~.30%) 

As a part of the Cashless BTC ATM infrastructure, OneWallet cards will be used that can store up to 9 (fiat) currencies in addition to XC (exclusively) alongside BTC.  (You will be able to cash out at any cashpoint merchant, or simply exchange between currencies that are connected to your OneWallet card.  Additionally, you will be able to use VISA debit/credit cards on the ATM to buy and sell BTC & XC)

i think this was meant for the xc topic

[cryptshine]

This is possibly the dumbest thread I have ever read in my life.  I literally can't even.  People with valuable commodities are not going to give that value to you in exchange for made up internet currency just because you would like them to.  

I mean yikes.  I have no idea as to the authenticity of various "proof of backing" in this thread but assume it is low or meaningless.  I feel like we are watching auroracoin v2.  You guys are nuts.

lol agreed. if only we could short sell

I honestly am flabbergasted at this entire thing.  Let me spell it out.  There are TWO types of people.  One has a bunch of valuable urea.  The other has a bunch of made up internet coins.  The first group is NOT giving their urea to the other group at some arbitrary 1 uro = 1 metric tonne of urea exchange rate.  If you think they are, here is a brilliant idea for you:  go create another "commodity currency" which will cost you hardly anything.  Now go convince holders of that commodity to give you their commodity in return for your made up coins.  Apparently you think they will do this based on the hope that everyone else will arbitrarily agree to the exchange rate as well.  And they will be so excited by this idea that they will incidentally make a bunch of totally non-contributing nerds rich, those nerds who were "smart" enough to stock up on the coins.

Brilliant.  Every now and then I like to watch a massive, massive disaster.  Thanks guys.

And if you think "but wait! we already have companies signed up!" here is another clue: they either do not exist or will not come through.  No one is so flagrantly giving you something for nothing, because if they did they would be fired or out of business.  "Boss I got rid of all our urea for these awesome URO coins!"  "Brilliant!"

You are not taking into the fact that being the first company in the world to do this will bring them a lot of media attention and open up their business to potential new markets that were not accessible before. Plus the price of URO will tend towards the price of UREA as the new of this innovation spreads. Seems like a win win for me...Just wait for the mainstream media to get wind of this...

[CryptoSkills]

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[solid12345]

The first group is NOT giving their urea to the other group at some arbitrary 1 uro = 1 metric tonne of urea exchange rate.

Why not? The URO Protocol states they will. You may find it bizarre a company is willing to take a risk and give away a million tons of Urea for 1/20th of the price but guess what, this is called capitalism, people take risk in the hope of making bigger profit in the future. After the first order is confirmed, who would be stupid enough to dump their Urea at fire sale prices?

If you think they are, here is a brilliant idea for you:  go create another "commodity currency" which will cost you hardly anything.  Now go convince holders of that commodity to give you their commodity in return for your made up coins.

Well apparently true asset did convince 4 companies to accept this commodity. Now how much of the whole plan was concocted by Green Earth Systems themselves is debatable, but clearly it's a business venture and not "some dude" in his basement who says the coin is worth Urea.

Apparently you think they will do this based on the hope that everyone else will arbitrarily agree to the exchange rate as well.

And you can "hope" Bitcoin will be worth 1,000 dollars, and you can "hope" it will be worth 1 million but you have no clue because nothing in life is set in stone. Bitcoin could drop to 10 dollars tomorrow for all we know. Everyone seems to be holding out hope Wallstreet is going to come in and inject billions into it but for all we know they think it is just a silly token too. But if these 4 companies can prove they created a more efficient way of delivering Urea and reducing cost, yes other companies that sell Urea will see the benefit and join too.

And they will be so excited by this idea that they will incidentally make a bunch of totally non-contributing nerds rich, those nerds who were "smart" enough to stock up on the coins.

You mean like how all of us Bitcoin holders made all those nerds who mined thousands of Bitcoins for just a few dollars of electricity rich? And whom most of are not contributing anything to the crypto community but sitting on their ass enjoying their wealth? LOL welcome to the world of investing where the early dogs who took the risk make the bulk of the fortune.

And if you think "but wait! we already have companies signed up!" here is another clue: they either do not exist or will not come through.  

Then why would they create it or sign onto it in the first place? And plenty of documents have been produced to prove Green Earth's existence.

Why don't you call them up yourselves and ask?

Here is your grand fatal flaw in all of this though. Speculation trumps everything, and if the MARKET decides it is worth 300 USD, it will. At one point Dogecoin reached almost an 80 million market cap at its height, this is actually how much it would take for 300k URO coins to be worth 300 dollars. Now do you really mean to tell me a generic coin with a dog on it is worth more than a digital commodity that can be traded for a real world good? If the Urea companies agree it has value, and the people agree it has value (and they will when the first shipment is proven and gone out) then the price will reflect this.