[Moderated] [ANN][URO] First Urea Commodity Token: 1 Uro = 1 Metric Tonne Urea

[busywork]

Equador to launch cryptocurrency in October backed by liquid assets such as crude oil?

http://www.forexminute.com/bitcoin/ecuador-launch-cryptocurrency-october-40919

This is very interesting... Reminds me of what Brazil did to solve their inflation issue.

http://www.npr.org/blogs/money/2010/10/04/130329523/how-fake-money-saved-brazil

[corather]

Sorry guys but thats the end of URO i think....
I can bring it to 00015 with 1 click of a button, not 0015 00015....
URO is dead.... Where where all scammed.

I lost about 7k on URO, down maybe 10BTC, so if anyone was hurt more then me i ask you to come forward...
I dont blame anyone just need to use my descresion more next time. It looked legit turns out now way in fuck is it.

I dont wanna hurt anyones feelings and cry out accumulation all you want, i have 4years experiance doing this look at my profile and this URO is the most eleberate scam yet...

If you truly believe it's a scam, why continue holding on to your coins?  Why not sell them before the price goes even lower?

Cause im so fucken pissed off i would rather go down with the ship...
Also i almost have 12k URO, so who wants to add to mine to make 12k so we can collect delevery on this URO at least make these assholes pay for that...
Us claiming delevery will be proof this is real or a scam.
Im sorry to burst your bubble but the entire thing is a big fucken joke, think about it are they really going to send me 12,000 tons of urea??
i have 12k URO....  Of fucken course they will not, thats $6MILLION in UREA..... at 500 a ton...... lol seriously wake the fuck up and watch this,
im going to try get my 12k delivered according to the protocle i proposition bet you now 5k USD they wont do it.

If you really think they will give up 12,000 tons of urea at 500$ a ton in exchange for 12,000 "URO" worth $1 each your stupider then you look...
maths here $12,000 USD != $6,000,000.00, ROI just collecting delivery and reselling on ALIBABA as china urea at $200 a ton would still see ROI of 200%..
.. its not going to happen.... EVER.. mark my words...

Just a lurker here asking an honest question  

Can someone refute vual's statements w/ credible info? I've been following this thread for a while now and all I see is hype vs fud flaming. Someone explain to me in economic terms how pegging URO to UREA would work. Everything vual has said here is logical/rational and I want to see someone refute this in the same manner.

I'm just a curious college student

check https://coinist.co/cryptocurrencies/uro for honest reviews

I was hoping for something little more credible.. Still doesn't explain who absorbs the loss when URO gets traded for urea.

There is no loss. There is however delayed ROI.

[corather]

Bittrex takes their sweet time sometimes, but the transaction will go through eventually.

They have showed me the txid: 53651d932b51cd1bc4a09bf2a97846d0f57282079132386a8370f413a81668df
bit it doesn't show up anywhere else.

I had the same issue with bittrex before. It can take a few hours. I emailed them a support ticket and before they answered it the trans went through.

[corather]

The US dollar is pegged to oil, I see no difference between URO and urea.

In fact I see the US dollar destabilizing and OPEC looking to back oil with China's yuan. If anything urea would have the same issues except that it's not an inflationary debt backed currency issued by a corrupt government privately held "federal reserve". In fact URO is held and backed by the blockchain and the hoard of miners supporting it, so it's even more likely to peg a unit of commodity to it.

You know you can trade paper contracts for any commodity, they're called future contracts. If you hold a valid future contract you can trade it for a set tonnage of commodity. What's the difference to URO? Nothing. As long as there's agreements between parties.

[Chang Hum]

Flaws of pegging a virtual currency to a commodity

Given that the fatal flaws in pegging a virtual currency to a commodity haven’t been relevant to the discussion (since it’s an easily provable scam) I haven’t touched on them yet but will try and handle them briefly here.
Although this subjects been explained by people far more intelligent then me over the past few years on Bitcointalk, I can’t be bothered to search through the sea of stupidity this forums become to find the posts! I’ll have a stab at a few obvious reasons that stand out in my mind. However if you’d like to search for more acedemic reasoning i’d suggest the original Mastercoin threads or try Daniel Krawisz insightful post here http://nakamotoinstitute.org/mempool/mastercoin-is-a-nightmare-of-insanity/

If a market participant sees the level of sales is exceeding the depth and velocity of the market to the extent they can clearly predict their investments going to drop they wont bother investing in the first place causing an avalanche effect with those at the top of the market fearful of being dumped on.

A fixed supply of Uro coins on the free market means there’s no reason why a purchaser could ever acquire enough coins to meet a minimum order, on Bittrex the most liquid exchange there’s only 10.5 Bitcoins worth for sale at the time of writing this, even given the exceptionally cheap Urea price they’re claiming, this is no where near sufficient to complete a minimum order.

The closer you get to the spot price of Urea the more the market will know they are going to get dumped on, again creating an avalanche effect on the price., even if the price held at 1% below the spot price it would completely undermine the cost savings of the scheme.

[busywork]

Sorry guys but thats the end of URO i think....
I can bring it to 00015 with 1 click of a button, not 0015 00015....
URO is dead.... Where where all scammed.

I lost about 7k on URO, down maybe 10BTC, so if anyone was hurt more then me i ask you to come forward...
I dont blame anyone just need to use my descresion more next time. It looked legit turns out now way in fuck is it.

I dont wanna hurt anyones feelings and cry out accumulation all you want, i have 4years experiance doing this look at my profile and this URO is the most eleberate scam yet...

If you truly believe it's a scam, why continue holding on to your coins?  Why not sell them before the price goes even lower?

Cause im so fucken pissed off i would rather go down with the ship...
Also i almost have 12k URO, so who wants to add to mine to make 12k so we can collect delevery on this URO at least make these assholes pay for that...
Us claiming delevery will be proof this is real or a scam.
Im sorry to burst your bubble but the entire thing is a big fucken joke, think about it are they really going to send me 12,000 tons of urea??
i have 12k URO....  Of fucken course they will not, thats $6MILLION in UREA..... at 500 a ton...... lol seriously wake the fuck up and watch this,
im going to try get my 12k delivered according to the protocle i proposition bet you now 5k USD they wont do it.

If you really think they will give up 12,000 tons of urea at 500$ a ton in exchange for 12,000 "URO" worth $1 each your stupider then you look...
maths here $12,000 USD != $6,000,000.00, ROI just collecting delivery and reselling on ALIBABA as china urea at $200 a ton would still see ROI of 200%..
.. its not going to happen.... EVER.. mark my words...

Just a lurker here asking an honest question  

Can someone refute vual's statements w/ credible info? I've been following this thread for a while now and all I see is hype vs fud flaming. Someone explain to me in economic terms how pegging URO to UREA would work. Everything vual has said here is logical/rational and I want to see someone refute this in the same manner.

I'm just a curious college student

check https://coinist.co/cryptocurrencies/uro for honest reviews

I was hoping for something little more credible.. Still doesn't explain who absorbs the loss when URO gets traded for urea.

There is no loss. There is however delayed ROI.

Investments aren't 100% guaranteed. Technically this a loss.

[wasobot]

I just pumped uro with all the btc I have.  The sell wall is thin, I suggest any true fans do the same.  Lets get this thing heading back in the right direction...

dude, you should have let people sell on you at 160k or lower .

[wasobot]

Sorry guys but thats the end of URO i think....
I can bring it to 00015 with 1 click of a button, not 0015 00015....
URO is dead.... Where where all scammed.

I lost about 7k on URO, down maybe 10BTC, so if anyone was hurt more then me i ask you to come forward...
I dont blame anyone just need to use my descresion more next time. It looked legit turns out now way in fuck is it.

I dont wanna hurt anyones feelings and cry out accumulation all you want, i have 4years experiance doing this look at my profile and this URO is the most eleberate scam yet...

If you truly believe it's a scam, why continue holding on to your coins?  Why not sell them before the price goes even lower?

Cause im so fucken pissed off i would rather go down with the ship...
Also i almost have 12k URO, so who wants to add to mine to make 12k so we can collect delevery on this URO at least make these assholes pay for that...
Us claiming delevery will be proof this is real or a scam.
Im sorry to burst your bubble but the entire thing is a big fucken joke, think about it are they really going to send me 12,000 tons of urea??
i have 12k URO....  Of fucken course they will not, thats $6MILLION in UREA..... at 500 a ton...... lol seriously wake the fuck up and watch this,
im going to try get my 12k delivered according to the protocle i proposition bet you now 5k USD they wont do it.

If you really think they will give up 12,000 tons of urea at 500$ a ton in exchange for 12,000 "URO" worth $1 each your stupider then you look...
maths here $12,000 USD != $6,000,000.00, ROI just collecting delivery and reselling on ALIBABA as china urea at $200 a ton would still see ROI of 200%..
.. its not going to happen.... EVER.. mark my words...

Just a lurker here asking an honest question  

Can someone refute vual's statements w/ credible info? I've been following this thread for a while now and all I see is hype vs fud flaming. Someone explain to me in economic terms how pegging URO to UREA would work. Everything vual has said here is logical/rational and I want to see someone refute this in the same manner.

I'm just a curious college student

check https://coinist.co/cryptocurrencies/uro for honest reviews

I was hoping for something little more credible.. Still doesn't explain who absorbs the loss when URO gets traded for urea.

There is no loss. There is however delayed ROI.

Investments aren't 100% guaranteed. Technically this a loss.

of course they are not, this is crypto high risk shit, thats why you never put more than you can afford to loose, and if you can afford to loose it, you can leave it waiting for a few months and see where the ship is going.

if you join IRC you will see there is still people working on this.

[busywork]

Flaws of pegging a virtual currency to a commodity

Given that the fatal flaws in pegging a virtual currency to a commodity haven’t been relevant to the discussion (since it’s an easily provable scam) I haven’t touched on them yet but will try and handle them briefly here.
Although this subjects been explained by people far more intelligent then me over the past few years on Bitcointalk, I can’t be bothered to search through the sea of stupidity this forums become to find the posts! I’ll have a stab at a few obvious reasons that stand out in my mind. However if you’d like to search for more acedemic reasoning i’d suggest the original Mastercoin threads or try Daniel Krawisz insightful post here http://nakamotoinstitute.org/mempool/mastercoin-is-a-nightmare-of-insanity/

If a market participant sees the level of sales is exceeding the depth and velocity of the market to the extent they can clearly predict their investments going to drop they wont bother investing in the first place causing an avalanche effect with those at the top of the market fearful of being dumped on.

A fixed supply of Uro coins on the free market means there’s no reason why a purchaser could ever acquire enough coins to meet a minimum order, on Bittrex the most liquid exchange there’s only 10.5 Bitcoins worth for sale at the time of writing this, even given the exceptionally cheap Urea price they’re claiming, this is no where near sufficient to complete a minimum order.

The closer you get to the spot price of Urea the more the market will know they are going to get dumped on, again creating an avalanche effect on the price., even if the price held at 1% below the spot price it would completely undermine the cost savings of the scheme.

This is exactly how I see it. In order to make URO work, everyone involved in the trade of urea has to buy in and come to an agreement to make URO the standard of payment - just like how OPEC decided to make the USD the standard. I'm not going to go as far as calling it a scam but the theory of using URO as an alternative form of payment just doesn't make sense.

[yanlei2002]

Chang Hum

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Unignore

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JUST DO IT .NO MORE NOISE!

[buneko]

busywork, as you seems to be genuinely interested in the "cryptocurrency backed by commodity"subject, I recommend you reading this neutral 3rd party academia research made on this specific matter.
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2425270

Cheers.

[bitwarrior]

Chang Hum

Trust: 0: -0 / +0(0)
Unignore

This user is currently ignored.


JUST DO IT .NO MORE NOISE!

+1

And I advise the rest just Do the same.

[corather]

Ever notice the more people make sense the more Chang shouts and gets abusive? There's a direct correlation. 

[corather]

The US dollar is pegged to oil

Okay I admit it's the other way around. Oil is pegged to the dollar, what difference does it make?

[corather]

The US dollar is pegged to oil

Okay I admit it's the other way around. Oil is pegged to the dollar, what difference does it make?

http://www.eia.gov/dnav/pet/pet_pri_fut_s1_d.htm

"    NYMEX Futures Prices
   (Crude Oil in Dollars per Barrel, All Others in Dollars per Gallon)
"

There you go Chang the mental patient.

[BigNewsCrews]

https://www.youtube.com/watch?v=IRoh62wRgkc

[corather]

http://www.transaction.net/money/backed/

[corather]

https://www.youtube.com/watch?v=IRoh62wRgkc

LOLOLOLOL!

[niothor]

The US dollar is pegged to oil

Okay I admit it's the other way around. Oil is pegged to the dollar, what difference does it make?

Better correct this statement too , if oil would have been pegged to the dollar there would have been no fluctuation in oil price.
Probably you have no idea what pegged means.

And as the previous link posted by somebody here pegging another commodity to a virtual currency which acts too as a commodity right now is almost impossible.

[corather]

You can't have a conversation with me chang, because you're a complete retard and I am unable to speak down to your level, that's why you can't understand me.

Grow a brain, better yet, grow a grain.