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

[david1365]

Please someone tell me what's the exactly reason for rising URO?

[1714941716]

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[choppy123]

check out my post from yesterday...I hope you all read my calculation as to why huge sell wall was at 0.2 ! We have a ways to go before 0.2 !!!!! Check out my calculation and you will see that HODL is the way to go  

[choppy123]

check out my post from yesterday...I hope you all read my calculation as to why huge sell wall was at 0.2 ! We have a ways to go before 0.2 !!!!! Check out my calculation and you will see that HODL is the way to go  

just watch the price hit 0.08 in 6 to 8 hours when North America wakes up...This feels like the all nighter I did a while back with blackcoin except URO is no pump and dump....URO is pump and stay forever at $300 per coin!

[broadsword]

DEV CONFIRMS 36800 METRIC TONS OF UREA BOUGHT FOR 12500 COINS

[david1365]

check out my post from yesterday...I hope you all read my calculation as to why huge sell wall was at 0.2 ! We have a ways to go before 0.2 !!!!! Check out my calculation and you will see that HODL is the way to go  

I checked out, ur prediction says, price for 1 URO will hit 0.2 BTC before January 2015, isn't it?

[ocminer]

 

[MinerP]

DEV CONFIRMS 36800 METRIC TONS OF UREA BOUGHT FOR 12500 COINS

lol did you seriously make a new account just to post this LOL

[Glizlack]

David each uro is backed by 1 metric ton of urea. The value of 1 metric ton is around 300 dollars. Lots of speculation if its true or not. I am leaning towards true but i am being cautious and taking my profits occasionally.  So if the the urea is really going to go for 300 dollars a ton we have a long way yet to go up.

Steve

[hozer]

Keep in mind:

1) Big investors in Europe just woke up to this news.
2) Next comes big investors in the USA.
3) USA East Coast starts waking up in about 6 hours.
4) West Coast tech-savvy investors start waking up in about 9.

Won't be long before Coindesk and Keiser pick this up

The issue with the structure of the URO concept, acting as a future/forward contract, is that there is no clearinghouse to guarantee the trades (delivery), any seller could back out.  For those who say well you could just take the seller to court, you are fools.  Obviously you have never sued anyone or been sued and probably have little to no experience in the business world.  

I'm long the coin for the pump.  However, I can tell you from 15+ years in the commodity business (trader for one of the 3 largest global commodity firms) without a clearinghouse, large scale adoption will be unlikely.  Smart contracts might be the answer, but adoption by the global powerhouses will still be unlikely, just do to the red tape that would be involved getting passed compliance and risk departments (you have no idea what a nightmare these people are).

If anyone from the URO team has an answer to the clearinghouse issue I've put forth, please respond.


Again, I'm long this coin for the short term and just wanted to post a big picture concern.  I could go way deeper as to why the clearinghouse matters, but I hate typing and I'm sure it would bore most of you.

Regards

Could the clearinghouse problem be solved by distributing the problem over multiple insurers (say Lloyd's as one) who would insure *both* that the seller would deliver, and cover any possible losses from hacked/stolen/broken computer systems (aka, stolen Uro or double-spends)? That way the compliance and risk departments just have to sign off on "Yes, this insurance provider is on the accepted list of people who cover our asses"

Smart contracts sounds nice but doesn't cover when your maintenance guy absconds with a USB key with the private keys to your uro, or if you mess up the multisig and send 12,500 uro to the bitbucket.

[hedgy73]

DEV CONFIRMS 36800 METRIC TONS OF UREA BOUGHT FOR 12500 COINS

Where does it say that?

[sdersdf2]

Reminder:

Keep in mind:

1) Big investors in Europe just woke up to this news.
2) Next comes big investors in the USA.
3) USA East Coast starts waking up in about 6 hours.
4) West Coast tech-savvy investors start waking up in about 9.

Won't be long before Coindesk and Keiser pick this up

[cryptowest]

David each uro is backed by 1 metric ton of urea. The value of 1 metric ton is around 300 dollars. Lots of speculation if its true or not. I am leaning towards true but i am being cautious and taking my profits occasionally.  So if the the urea is really going to go for 300 dollars a ton we have a long way yet to go up.

Steve

So... 36,000 metric tons of piss chemicals are being stored by the dev, or its not true and he doesnt have any urea.

Which is more plausible?

[AlfaONE]

This deserves another post:

https://twitter.com/GESystemsgroup

[david1365]

David each uro is backed by 1 metric ton of urea. The value of 1 metric ton is around 300 dollars. Lots of speculation if its true or not. I am leaning towards true but i am being cautious and taking my profits occasionally.  So if the the urea is really going to go for 300 dollars a ton we have a long way yet to go up.

Steve

Thanks steve

[choppy123]

check out my post from yesterday...I hope you all read my calculation as to why huge sell wall was at 0.2 ! We have a ways to go before 0.2 !!!!! Check out my calculation and you will see that HODL is the way to go  

I checked out, ur prediction says, price for 1 URO will hit 0.2 BTC before January 2015, isn't it?

yes exactly, it's all an approximation. I was a Product Manager for a Canadian Chemical Distributor for 5 plus years...I did these calculations all the time.
Now that we know that URO is the legit (which was my only concern) 0.2 is a given.....buy more if you can, I'm scrambling as much bitcoin as I can afford now

[trogdorjw73]

DEV CONFIRMS 36800 METRIC TONS OF UREA BOUGHT FOR 12500 COINS

lol did you seriously make a new account just to post this LOL

I bought 500 URO. I would like to trade that in for 500 MT of Urea please. How do I go about doing this?

And on a related note, I have 500 MT of Urea I'm willing to sell at an amazingly low price of just $100 per MT. That's 66% off the regular cost!

/sarcasm

[broadsword]

DEV CONFIRMS 36800 METRIC TONS OF UREA BOUGHT FOR 12500 COINS

lol did you seriously make a new account just to post this LOL

hate to be the one to break it, but dev has said, see IRC. people saying 1 uro for 1 metric ton, they have no proof, dev cleared it on IRC,

[choppy123]

check out my post from yesterday...I hope you all read my calculation as to why huge sell wall was at 0.2 ! We have a ways to go before 0.2 !!!!! Check out my calculation and you will see that HODL is the way to go  

I checked out, ur prediction says, price for 1 URO will hit 0.2 BTC before January 2015, isn't it?

yes exactly, it's all an approximation. I was a Product Manager for a Canadian Chemical Distributor for 5 plus years...I did these calculations all the time.
Now that we know that URO is the legit (which was my only concern) 0.2 is a given.....buy more if you can, I'm scrambling as much bitcoin as I can afford now

Just imagine if URO incorporates anonymous transactions...It'll make all of the anon coins obsolete because you could serve multiple purposes with URO buy buying 1 Tonne of urea or some unspecificied narcotic that you don't want the authorities to know about :O Why use DRK or VRC when you could accomplish the same with URO.....LOL

[trogdorjw73]

DEV CONFIRMS 36800 METRIC TONS OF UREA BOUGHT FOR 12500 COINS

lol did you seriously make a new account just to post this LOL

hate to be the one to break it, but dev has said, see IRC. people saying 1 uro for 1 metric ton, they have no proof, dev cleared it on IRC,

He said it in IRC; IT MUST BE TRUE!

[bitcoinwonders010]

DEV CONFIRMS 36800 METRIC TONS OF UREA BOUGHT FOR 12500 COINS

lol did you seriously make a new account just to post this LOL

hate to be the one to break it, but dev has said, see IRC. people saying 1 uro for 1 metric ton, they have no proof, dev cleared it on IRC,

He said it in IRC; IT MUST BE TRUE!

dev needs to clear this up, asap. why did he clearly not state it