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

[BitcoinBaBa]

How does URO fit in with the government subsidization of urea in India?:

"Urea is imported by three STEs (state trading enterprises) - Indian Potash Ltd (IPL), MMTC and STC on behalf of the government to meet domestic shortfall. The country produces about 22 MT against an annual domestic demand of 33 MT."

"Urea is provided to farmers at a fixed subsidized maximum retail price (MRP) of Rs 5,360 per tonne. The difference between the cost of production and MRP of urea is provided as subsidy."

5,360.00 INR   =   90.4319 USD

Are there farmers in Rajasthan buying subsidized Urea for 3 times the price?

A typical small to medium farmer without the right connections cannot access Urea at this subsidised price. To receive this subsidy they must go through a lot of bureaucracy and significant corruption occurs at this level. Although it is displayed at this price almost no one can actually make a real purchase of Urea for 5360 INR - most pay more then 3 times this amount.

In other words, this subsidy/discount gets absorbed by the middle elements of the supply chain - such as the agents.

This kind of fake "subsidy" is "available" in many developing nations.

I have to agree with this . Such issues are discussed in Indian news channels regularly.The rampant corruption in the system is one of the main causes of many farmers committing suicide. If farmers start using URO  they are entitled to equivalent metric tonne of Urea and need not worry about the prices and the manipulation in the system. This could be revolutionary if implemented correctly.

Also http://timesofindia.indiatimes.com/business/india-business/Government-plans-urea-price-hike-to-curb-fertilizer-subsidies/articleshow/36294375.cms   

[AlfaONE]

How does URO fit in with the government subsidization of urea in India?:

"Urea is imported by three STEs (state trading enterprises) - Indian Potash Ltd (IPL), MMTC and STC on behalf of the government to meet domestic shortfall. The country produces about 22 MT against an annual domestic demand of 33 MT."

"Urea is provided to farmers at a fixed subsidized maximum retail price (MRP) of Rs 5,360 per tonne. The difference between the cost of production and MRP of urea is provided as subsidy."

5,360.00 INR   =   90.4319 USD

Are there farmers in Rajasthan buying subsidized Urea for 3 times the price?

A typical small to medium farmer without the right connections cannot access Urea at this subsidised price. To receive this subsidy they must go through a lot of bureaucracy and significant corruption occurs at this level. Although it is displayed at this price almost no one can actually make a real purchase of Urea for 5360 INR - most pay more then 3 times this amount.

In other words, this subsidy/discount gets absorbed by the middle elements of the supply chain - such as the agents.

This kind of fake "subsidy" is "available" in many developing nations.

I have to agree with this . Such issues are discussed in Indian news channels regularly.The rampant corruption in the system is one of the main causes of many farmers committing suicide. If farmers start using URO  they are entitled to equivalent metric tonne of Urea and need not worry about the prices and the manipulation in the system. This could be revolutionary if implemented correctly.

Also http://timesofindia.indiatimes.com/business/india-business/Government-plans-urea-price-hike-to-curb-fertilizer-subsidies/articleshow/36294375.cms   

agree....

[AlfaONE]

USA prices for UREA between $470 and $800 in the past 3years

http://marketrealist.com/2013/11/us-retail-urea-prices-supported-near-470-help-fertilizer-stocks/

[maxsinner]

The question "Why has the NIERs not bought up all the Uro on the market?" has been asked many times. We are pleased to be able to publish an answer now.

There are so many reasons why the members of the Foundation has not chosen to go down this path, and here are just a few:

1. Sustainability: The need for the Uro community to prove itself as a long term, sustainable crowd business model: The Foundation wants to see Uro grow organically on its own, with its own proud tradition. Uro needs to be convincing to the general public as represented by the community here. Uro needs to stand alone on its own principles and economic foundations. A few companies buying up all the currency supply does nothing to achieve this.

2. Ethics: it is just plain wrong for the Foundation members to manipulate the market by hoarding all the Uro supply. In the share market - this would be considered some form of insider trading and definitely breaks a number of laws. Just because the cryptocurrency space is unregulated by the government doesn't mean that we should not hold ourselves to high moral and ethical standards. Having a few parties with a majority stake in the currency supply simply breeds opportunities for market manipulation that benefits almost no one.

3. Market creation and growth via "Earned Distribution": to have a market - you need mass participation. What is the point of Uro if - when it reaches its proper value - that only a few hold it? There will be no point to such a currency - currency is something that is useful for exchange between people - especially strangers. The bigger the market the better - and we believe that the best way to create a large market is through what we call "Earned Distribution": everyone that is holding Uro have earned them - by mining to keep the network operating, by contributing to the community via posting new information to strengthen its value, by buying some Uro. This is the free market at its best - mass participation with no freeloaders.

4. 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.
 

And what is from stopping me or any other individual buying a large amount of Uro on the exchanges given the current very cheap price and hoarding it?

[raskul]

And what is from stopping me or any other individual buying a large amount of Uro on the exchanges given the current very cheap price and hoarding it?

nothing, but i'd be wary as it seems all indications are that this is what the OP is trying to accomplish.

[AlfaONE]

And what is from stopping me or any other individual buying a large amount of Uro on the exchanges given the current very cheap price and hoarding it?

nothing, but i'd be wary as it seems all indications are that this is what the OP is trying to accomplish.

This is what you do in any "trading market" I guess - you buy as much as you can, without losing your house....and sell when you can smile about it...

[AlfaONE]

well done  BITTREX 

[danonthehill]

So if I buy 12,500 Uro today on July 9th can I email the NIER with an order for 12,500 Tonnes Urea and they will accept, or are they only obligated to do so at some point in the next 10 years?  And who can sue the NIER if they don't honor the contract, The URO Foundation i.e. themselves?

[pineapples]

this thread is not self moderated.

who is deleting posts and why ??

A reply of yours, quoted below, was deleted by a Bitcoin Forum moderator. Posts are most frequently deleted because they are off-topic, though they can also be deleted for other reasons. In the future, please avoid posting things that need to be deleted.

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

what is the current status of this ?

it's just annoying having it posted regularly with no response

[pineapples]

i'm not fussed about the answer to loljosh..

just why a moderator is deleting these posts is a very interesting question.

[BitcoinBaBa]

We are approaching the NIER board members for video/audio/text interviews about Uro. The poll on this thread as been changed to several web sites known for respected interviews in the cryptocurrency space. Please vote for your favorite web site or suggest more sites so we can add them to the poll

Whats the eta on the interview?

[danonthehill]

So if I buy 12,500 Uro today on July 9th can I email the NIER with an order for 12,500 Tonnes Urea and they will accept, or are they only obligated to do so at some point in the next 10 years?  And who can sue the NIER if they don't honor the contract, The URO Foundation i.e. themselves?

I ask this because if the this price is right I will want to buy the actual Urea rather than simply day trade uro, but I would want it delivered to Taiwan.  What are the geographical restrictions for delivery?

[true-asset]

So if I buy 12,500 Uro today on July 9th can I email the NIER with an order for 12,500 Tonnes Urea and they will accept, or are they only obligated to do so at some point in the next 10 years?  And who can sue the NIER if they don't honor the contract, The URO Foundation i.e. themselves?

I ask this because if the this price is right I will want to buy the actual Urea rather than simply day trade uro, but I would want it delivered to Taiwan.  What are the geographical restrictions for delivery?

According to the Uro Protocol, its FOB - so you would have to arrange shipping from port of origin.

[true-asset]

We are approaching the NIER board members for video/audio/text interviews about Uro. The poll on this thread as been changed to several web sites known for respected interviews in the cryptocurrency space. Please vote for your favorite web site or suggest more sites so we can add them to the poll

Whats the eta on the interview?

The idea is to get lots of votes to show the elected news site that there is a lot of interest in Uro so that they will be willing to host an interview. The current voting is for CoinDesk and Keiser Report - we need to find a way to get on their radar.

The board members being interviewed are ready to do the interview.

The idea of getting a universally respected news site to do the interview is so that everyone can be confident its real.

[true-asset]

I will be present for a Q & A session on the #URO FreeNode IRC channel at 2200 GMT/UTC on 12/06/2014 (8AM AEST / 6AM HKT / 10PM UK / Afternoon US). This was at the request of darkpill and shakinhandz. Bring your questions and join us.

[true-asset]

i'm not fussed about the answer to loljosh..

just why a moderator is deleting these posts is a very interesting question.

I got one of my own posts deleted from this thread (it only had "+1"). The offending post from majeis contained threats and was posted twice.

[kyle589]

I will be present for a Q & A session on the #URO FreeNode IRC channel at 2200 GMT/UTC on 12/04/2014 (8AM AEST / 6AM HKT / 10PM UK / Afternoon US). This was at the request of darkpill and shakinhandz. Bring your questions and join us.

On 12/06/2014 you mean?

[ShakinHandz]

I will be present for a Q & A session on the #URO FreeNode IRC channel at 2200 GMT/UTC on 12/04/2014 (8AM AEST / 6AM HKT / 10PM UK / Afternoon US). This was at the request of darkpill and shakinhandz. Bring your questions and join us.

On 12/06/2014 you mean?

Yes tomorrow the 12th.

[dleader]

Just a thought would it not benefit the farmers to have the ability to purchase a prepaid URO card, to use as A. Currency B. acting hedge trader. This negates the necessity for a computer, and direct transfer from individuals in any local could take place without a middle man. Effectivly rendering any farmer a potential trader in URO. Granted they can hold on to the urea, or URO card directly. These cards could also be in smaller URO denominations. They would be sold and handled like phone minute cards, I've been to many rural places in 3rd world countries, phone cards are as prolific as soda these days.

If the local distributor had the ability to accept say .5 of a URO and the farmer still had .5 left on his card, he could chose to hold or sell at will. Price fluctuations will always be inherent in commodities due to supply and demand.

Paper wallets and brain wallets are definitely part of the plan involving the wholesalers for the next stage. We have not thought about cards but thanks for contributing this. Wholesalers will be trained to use Uro electronically while less frequent users can make do with paper wallets. If the Foundation donates Urea it would be in the form of Uro paper wallets, and Uro will be purchasable from Urea wholesalers.

For many farmers - understanding markets trends, cryptocurrency, finance, etc is a big problem indeed. However, if we just introduce a paper wallet which they can buy and hold as a certificate for Urea - then that is something everyone will understand. The best thing is that these certificates can be verified against counterfeiting due to the inherent power of the cryptocurrency network.

"The best thing is that these certificates can be verified against counterfeiting due to the inherent power of the cryptocurrency network. " Absolutely, the blockchain is such an elegant solution. At some point they will need to be scanned electronically though correct? An extra layer of i.d verification would lock it all in.

[fiftyseven]

There are problems on the URO network. I withdrew a good deal of URO from Bittrex and they never arrived in my client. However, the transaction shows in your block explorer, which is I think on the wrong chain? So beware that Bittrex appear to be on a different fork to that which the client connects. I am awaiting a response from Bittrex about my lost coins.