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

[profall]

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URO Pool has been updated 1.0.0.1, Come and mine! Put your hashrate in a safe place.

[1715169821]

1715169821

[true-asset]

UPDATE: Its is now safe to mine again at uro.altmine.net, uro.suprnova.cc and uro.pool.enterprises as these pools have updated to the new wallet.

[true-asset]

Profall has setup the #URO IRC channel on FreeNode for us. If you need immediate support feel free to chat with us there.

[true-asset]

UPDATE: Its is now safe to mine again at uro.altmine.net, uro.suprnova.cc, uro.pool.enterprises and pool.trademybit.com as these pools have updated to the new wallet.

IMPORTANT MANDATORY UPDATE FOR ALL POOLS, EXCHANGES, BLOCK EXPLORERS AND OTHER SITES/SERVICES USING UROD:

We have tagged a mandatory hard fork update at v1.0.0.1 on Github. you can access the new source here:

https://github.com/uro-/uro/releases/tag/v1.0.0.1

We are hard forking to the new release at block 12760 to change the retarget algorithm. Which is 10 blocks from now (estimate 24 hours). Please update your Urod instances ASAP.

We will attempt to contact the following operators about this update:

Enterprises Pool: Updated to v1.0.0.1
Altmine Pool: Updated to v1.0.0.1
P2PoolCoin Pool: PM sent to linked67
Bittrex Exchange: Support request sent via Bittrex Zendesk
CryptExplorer Block Explorer: PM sent to candidakefyr
Suprnova Pool: Updated to v1.0.0.1
cryptocoinrank.com: PM sent to Cryptocoinrank.com
TradeMyBit Pool: Updated to v1.0.0.1

Windows v1.0.0.1 wallet is available on Github: https://github.com/uro-/uro/releases/tag/v1.0.0.1

We will be uploading an updated Mac wallet soon.

[pineapples]

The sudden 10 fold spike was what caused the problem, which the update that is being QA will fix.

ho ho ho...
merry christmas. and a 20hour block to you sir

[AlfaONE]

CoinDesk has published an article about Uro: http://www.coindesk.com/things-alt-dogecoin-wedding-ire-isracoin-crypto-commodities-go-wild/

See the section: "Unique asset backs new altcoin Uro"

This is a Great step forward.....looking good

[Changeispermanent]

CoinDesk has published an article about Uro: http://www.coindesk.com/things-alt-dogecoin-wedding-ire-isracoin-crypto-commodities-go-wild/

See the section: "Unique asset backs new altcoin Uro"

This is a Great step forward.....looking good

Are you AlfaOne or Alfa Two...

[AlfaONE]

CoinDesk has published an article about Uro: http://www.coindesk.com/things-alt-dogecoin-wedding-ire-isracoin-crypto-commodities-go-wild/

See the section: "Unique asset backs new altcoin Uro"

This is a Great step forward.....looking good

Are you AlfaOne or Alfa Two...

Moved on to Alfa 3  - improved and better 

[true-asset]

Strangest thing I ever saw, well at least you can say the currency is backed by something, FIAT is backed by nothing 

Its great that people are starting to understand the reason for Uro.

[Changeispermanent]

Hi Dev,  

I have gone through the protocol. I have a few queries and clarifications about the same.  I would appreciate if you could answer all of them for my benefit and others in the thread.

1.   Article-1: Each member will be backing only an amount of 12,500 MT of Urea. As per the ANN post and website there are only 4 members. Which means there is only 50,000 MT of Urea backed against the current >150,000 supply of UROs.
2.   Article-5: All the instruments of ratification will be deposited with URO foundation. Will these instruments be held by you or in the office of URO foundation of locker of a bank? If yes, where will be the office of URO foundation located or in which country’s bank and in which bank’s locker these ratifications will be deposited for safe custody.
3.   Article-6: This protocol will not be in force until 4 members have approved and ratified this protocol. What if one of the four members you mentioned in the announcement post do not agree to this proposal. This protocol will never come into effect and nobody can use UROs for buying Urea ever. After all the 4 of them have signed, it will take one month for this protocol to be effective, i.e. no one can buy Urea before 9the of July. Please clarify.
4.   Why are names and addresses of any of any member not mentioned in the protocol? After page 2 there is contract of sale directly.
5.   What will be the minimum quantity that a farmer/anyone holding UROs buy? In protocol it is mentioned as 12,500 MT. If a farmer does not need 12,500 MT of urea, why will he buy such a quantity?
6.   Presently, URO can be exchanged for Urea only in the countries where there is a member. People from other countries can only mine and trade URO but cannot exchange the same of Urea. Please clarify.
7.   Arbitration will be done by ICC: Does ICC consider URO as a mode of payment or currency of payment. If not, it will not be possible to seek arbitrage from such organization in the event of dispute. Please clarify.
8.   Article-22: Banking Information: What are the banking charges being discussed here? It looks like a copy paste mistake. What are the confirmation charges. I believe this is used in case of LCs. There is no LC involved here if I am not wrong. Then why the use of banking information here?

There are many tiny other details I have queries for but for now I do not have patience to type so much.

I would appreciate if you could clarify on the above queries and I hope this will answer the queries of many other fellow community members.

Regards,
Change is permanent.

[foxkyu]

Just now, wallet sync success
thanks dev

[reader31]

Also is it possible to know the real world identities of people behind this so we can verify the legitimacy of this claim as investors? sorry...just some due diligence

[true-asset]

Hi Dev,  

I have gone through the protocol. I have a few queries and clarifications about the same.  I would appreciate if you could answer all of them for my benefit and others in the thread.

1.   Article-1: Each member will be backing only an amount of 12,500 MT of Urea. As per the ANN post and website there are only 4 members. Which means there is only 50,000 MT of Urea backed against the current >150,000 supply of UROs.
2.   Article-5: All the instruments of ratification will be deposited with URO foundation. Will these instruments be held by you or in the office of URO foundation of locker of a bank? If yes, where will be the office of URO foundation located or in which country’s bank and in which bank’s locker these ratifications will be deposited for safe custody.
3.   Article-6: This protocol will not be in force until 4 members have approved and ratified this protocol. What if one of the four members you mentioned in the announcement post do not agree to this proposal. This protocol will never come into effect and nobody can use UROs for buying Urea ever. After all the 4 of them have signed, it will take one month for this protocol to be effective, i.e. no one can buy Urea before 9the of July. Please clarify.
4.   Why are names and addresses of any of any member not mentioned in the protocol? After page 2 there is contract of sale directly.
5.   What will be the minimum quantity that a farmer/anyone holding UROs buy? In protocol it is mentioned as 12,500 MT. If a farmer does not need 12,500 MT of urea, why will he buy such a quantity?
6.   Presently, URO can be exchanged for Urea only in the countries where there is a member. People from other countries can only mine and trade URO but cannot exchange the same of Urea. Please clarify.
7.   Arbitration will be done by ICC: Does ICC consider URO as a mode of payment or currency of payment. If not, it will not be possible to seek arbitrage from such organization in the event of dispute. Please clarify.
8.   Article-22: Banking Information: What are the banking charges being discussed here? It looks like a copy paste mistake. What are the confirmation charges. I believe this is used in case of LCs. There is no LC involved here if I am not wrong. Then why the use of banking information here?

There are many tiny other details I have queries for but for now I do not have patience to type so much.

I would appreciate if you could clarify on the above queries and I hope this will answer the queries of many other fellow community members.

Regards,
Change is permanent.

Q & A -

1.   Article-1: Each member will be backing only an amount of 12,500 MT of Urea. [/b]As per the ANN post and website there are only 4 members. Which means there is only 50,000 MT of Urea backed against the current >150,000 supply of UROs.

Actually there is no legal limit to the amount of Urea backing (although a practical limit is imposed by the fact that the supply of Uro is limited - hopefully this gives you a better idea of why we went with 1 million Uro in the first 6 months then 100K per year - it is to allow management of the Urea purchase growth). Article 1 states the Member will supply 12,500 MT Urea to "any" (understand as each if that makes things clearer for you) purchaser. There is no limit to the amount of Urea available. If you have 1 Million Uro then you can purchase 1 Million MT Urea by making 80 separate purchase orders (which conveniently fits on 80 ships - more on this below).

2.   Article-5: All the instruments of ratification will be deposited with URO foundation. Will these instruments be held by you or in the office of URO foundation of locker of a bank? If yes, where will be the office of URO foundation located or in which country’s bank and in which bank’s locker these ratifications will be deposited for safe custody.

The signed instruments of ratification will be electronically published to the public for all to see and make copies of. The hash values of the these electronic instruments will be timestamp verified on to the Bitcoin blockchain via http://www.proofofexistence.com/ (a service we are porting to the Uro blockchain as well - and of course the first application would be to store hashes of these documents).

The electronic instruments will be backed up on 10 different cloud storage services and physical media including services operated by Google, Microsoft, Amazon, Digital Ocean, Backblaze, Ninefold, MEGA, Apple, Firedrive and most of these backups will be publicly available. The actual paper originals will be stored securely but we do not have permission from the Foundation board to reveal any more details regarding the physical storage at this time.

Once the Protocol is ratified by a Member, there is no way (under the terms of the protocol) for the Member to leave without a full public announcement by the Foundation via twitter and on the official website - and that will only take effect after 60 days at least (because that is how long it takes to amend the protocol to allow for this - without an amendment the Uro Protocol currently requires Members to stay ratified for the next 10 years).

3.   Article-6: This protocol will not be in force until 4 members have approved and ratified this protocol. What if one of the four members you mentioned in the announcement post do not agree to this proposal. This protocol will never come into effect and nobody can use UROs for buying Urea ever. After all the 4 of them have signed, it will take one month for this protocol to be effective, i.e. no one can buy Urea before 9the of July. Please clarify.

The four members that will be signing have already been named. The Foundation had a meeting with all members attending on Friday and confirmed all 4 members are signing. You would just have to wait for the instruments to be published - speculation of whether it will happen or not is a waste of time and energy. Regarding the 30 days before the protocol comes into effect - as you one can imagine, it takes time for things to happen in large corporations - staff needs to be trained, procedures put in place, infrastructure setup - these things cannot happen overnight. 30 days is a very reasonable amount of time to setup a business to accept form of payment that operates using completely different software then the existing SWIFT system.

4.   Why are names and addresses of any of any member not mentioned in the protocol? After page 2 there is contract of sale directly.

The Uro Protocol is open to signing by all NIERs that join the Foundation - so it would not be appropriate to put any company details on there. The instruments of ratification are what binds companies to the protocol.

The contract of sale has gaps that are to be filled in when the actual order is placed. These gaps are filled with the correct values for each specific order

5.   What will be the minimum quantity that a farmer/anyone holding UROs buy? In protocol it is mentioned as 12,500 MT. If a farmer does not need 12,500 MT of urea, why will he buy such a quantity?

The reason that there is a minimum order of 12,500 MT from the Members is that this is the amount which fills a typical cargo ship - because the Urea is to be delivered in bulk form (i.e. poured straight into the cavity of the ship) this is the only economical way to do it - any amount less and the purchaser will just be wasting their transport capabilities - which is not environmentally friendly. Another reason is that, in international Urea trading - nobody does deals less then 12,500 MT.

Understand that the Uro Protocol is the baseline that underpins Uro's refence value - it is not (by itself) the ultimate end solution - The Foundation will setting infrastructure with local wholesalers (already under negotiation) so that smaller quantities of Urea can be purchased with Uro - in this case it will be the wholesalers not the NIERs supplying Urea to the purchaser - obviously the wholesaler still has to obtain their Urea supply from an international trader - likely a NIER - and here is where the solution comes full circle.

With the wholesalers - we know that some will be accepting orders in the 200 MT range - and we striving to find new partners that will supply even lower quantities - there is much to be done in the coming months - there is a 1 year plan we have in place and a 3 year plan is already in draft form.


6.   Presently, URO can be exchanged for Urea only in the countries where there is a member. People from other countries can only mine and trade URO but cannot exchange the same of Urea. Please clarify.

This is not true - nothing stops any individual or company from ordering from overseas suppliers - its just convenient to have someone to contact in your home nation - but not necessary. Plus, more members will come on board in the coming months - many Urea traders will understand the benefits of Uro once they see it - we will seek nations that do not yet have representation aggressively

7.   Arbitration will be done by ICC: Does ICC consider URO as a mode of payment or currency of payment. If not, it will not be possible to seek arbitrage from such organization in the event of dispute. Please clarify.

The ICC does arbitration - which is to do with getting both parties to agree on something via a set of mediation rules and procedures. The ICC does not need its own opinions and regulations on what are valid currencies. Because Uro does not suffer from bank delays or blockages, any issues that arise therefore will be to do with delivery or product specifications - which again the ICC are not experts in either - the ICC court is just their to make rulings on what are fair solutions to problems - the parties to the contract have to suggest and compromise on each other solutions together with the ICC arbitrator.

8.   Article-22: Banking Information: What are the banking charges being discussed here? It looks like a copy paste mistake. What are the confirmation charges. I believe this is used in case of LCs. There is no LC involved here if I am not wrong. Then why the use of banking information here?

As far as a Uro transaction goes, there are no expected banking charges. However. if either party decides to use a future payment processor to obtain fiat currencies - this clause protects both parties by making sure the banking charges stay where they belong and do not "bleed" unfairly on to the other party.

Another case where there can be banking charges is when the purchaser wants to order greater quantities - paying part LC and part Uro.

[majeis]

I look forward to your signed verifiable documents tomorrow posted on the official websites of all four member companies along with emails and phone calls. I got some popcorn already in the microwave. I just have to hit a button.

Also, you still haven't explained your affiliation with loljosh.

[majeis]

OK, I'm over this.  The have been 7 blocks solved in the last 31 hours. That is over 4 hours per block on average.  You PM'ed me with a question, I answered it, you ignored me... Pieces of unsigned paper that for all we know you knocked up yourself (dude, no signatures, nothing to confirm they're real)..

I live in Sydney too. Happy to come around and explain why your coin is dying in words of one syllable or less.  Or I could do it here... FIX the diff adjustment NOW. I'm still bewildered at how you applied a diff adjustment formula that you didn't understand...

Just look at true-asset's trust profile :/

loljosh is right there.

https://bitcointalk.org/index.php?action=trust;u=318579

Now your confusion should be alleviated.

The coin wasn't created by the "dev."

This is a scam.

Dev. You really need to push the new diff algo.  10 blocks found in the last 10+ hours.  It's insanely uneconomical to mine ATM.  

We are still testing it - correctness and safety is our top priority.

What about accountability, transparency, disclosure, honesty, and public relations?

Do those not factor highly on your priorities?

As I explained, the board member companies will be making there press releases in due time as scheduled. There is not point for you to repeatedly question this - we are sticking to our plans.

Your plan was to offer us all the information requested:

It's a new idea..interesting!

Waiting for documents stating you have acquired these real life contacts

What documents do you want - I will obtain them for you as long as they are reasonable requests.

raskul: Please present evidence that I am lying, or otherwise stop you defamation. Everything I have written on this forum is true.

Please present evidence that you're not.

majeis: I can arrange for calls/emails/official correspondence letters from the heads of these companies - what would you like?

Then when actually asked for it, you delayed.

We never actually promised you those things within a day. However we did, in the announcement on Monday - state clearly that the Uro Protocol will be published this Friday and be ratified next Monday. The press releases, which will be released by the board members companies themselves - should satisfy you more then anything we have to say here on the forum.

You mean published on the one of the four multi-million dollar companies websites who actually have a website? (You know, since on your official page, there's only one linked?)

Or do you mean an aggregated press release with no real origin that just gets syndicated and has no actual relevance or validity?

Also, how is it that you alone occupy one of the only five positions on the "board," four of which are occupied by entire companies?

By the way: How much did you pay loljosh to "develop" this coin for you?

[true-asset]

UPDATE: v1.0.0.1 Windows and Mac OS X Wallets are now available for download on Github at: https://github.com/uro-/uro/releases/tag/v1.0.0.1

[pineapples]

I look forward to your signed verifiable documents tomorrow posted on the official websites of all four member companies along with emails and phone calls. I got some popcorn already in the microwave. I just have to hit a button.

Also, you still haven't explained your affiliation with loljosh.

maybe you should explain why loljosh is not a good associate to have ?

is there a problem that URO was perhaps created by loljosh ?

is there a problem that the "dev" may not actually the coder ?

[true-asset]

MANDATORY UPDATE FOR ALL URO USERS:

Please make sure you upgrade to the latest Uro wallet ASAP: https://github.com/uro-/uro/releases

We are only 2 blocks away from the hard fork.

[true-asset]

Official Uro Announcement

The Uro Protocol has been successfully ratified by all 4 current board members of the Uro Foundation. The Instruments of Ratification have been published on the Uro Foundation website at http://uro.io. They can be accessed in JPG format under the "Current Board" section by clicking the "Current Board" link on the right hand side of the top menu bar or by scrolling down.

Original lossless PNG versions of the instruments are being registered on the Bitcoin blockchain at http://www.proofofexistence.com/ and will be uploaded for public observation soon.

The members of the board will be making their own press releases shortly - links to these press releases will by made available soon.

[true-asset]

Green Earth Systems has made a press release on their website at http://gescommodity.com