Gugli, i took the liberty of typing the questions so we dont have to clog this shit up with images. disclaimer, I am not a part of the uro foundation, protocol, or any affiliation other than i have been a moderator on the irc which i was asked to help with as maybe a vanity position as i donated 1.5BTC to block cypher project. needless to say any answers are my own thoughts on the questions which were not answered in depth enough by Bohan for your standards, or which were pawned off from Bohan to GES and remain unanswered.
NILESH, WOULD YOU LIKE TO ANSWER SOME QUESTIONS? BOHAN IS NOT ALLOWED TO DO IT.
http://www.cryptoarticles.com/crypto-news/uro-interview-with-bohan-huang-32-questions-from-the-community2 why would urea producers use a public crypto instead of a private crypto only for them? it seems hard to believe the produces will bind to the price set by daytraders…
5 Will IPL release who won the bids and for what amount of urea they won?
7 Will Nilesh Nair do a Q&A or a Reddit AMA if RIVAA wins the contract?
8 When will we be introduced to other members of the URO foundation. (we already know names). What are the responsibilities of each foundation member? Will there be any interview with other foundation members also? What made them join URO foundation
11 Why are the NIERs not educating their existing customers about URO? Thats an assumption: A better question is - Are the efforts by the NIERS to educate their customers benefitting the URO holders and daytraders for the long term as opposed to any expected daily volatility on exchange prices
12 Are NIERs educating their existing customers? And if so, how are they doing so?
14 A ltd company is a legal entity how is it possible for a legal entity to donate millions of dollars to charity per year 5 years before it existed? (in reference to GES first incorporation in 2008 and bold claims made on GES website about giving $3-4m usd away per year to rural farmers since 2003)
15 Normally when a business gives vast sums to charity its for PR since GES have no news reports regarding the $3-4 million they give to rural farmers each year what was the business strategy behind this move?
17 As we all are aware that RIVAA has made a trade with URO for UREA. They are already aware of the whole process and there is no need to convince them any more. So, even if they do not win any tender even in the coming year, they can buy a lot of UROs at a great discount >95% to 50% now. They can quote tender the next season when IPL issues tenders. Or, they can sell urea to those who won the tender at a lesser price. What could be the reason the URO foundation is not able to conince them to do so?
25 It’s clear from the Australian government records Nilesh is in the winding up stage of insolvency proceedings from Impact Security Systems. Why is he unable to pay off his Australian creditors but able to subside 100’s of millions of dollars worth of urea to customers?
30 So does 1 uro really equal 1 mt urea? How is this so? who is providing the urea?
Provide better answer why BITCOIN could not be used instead of UROCOIN
32 Last question Why does uro need a whole new coin instead of using bitcoin or becoming a sidechain?
Provide better answer why BITCOIN could not be used instead of UROCOIN
2 a private crypto would be harder to secure, require centralized mining done at the office, and require pruchase of hardware and expenditure of electircity, these may be something they are not willing to undertake (though obviously could afford). if they were to only run a few miners they would leave the network open to hacks and 51% attacks easily. daytraders and speculators are not the end user, we're just keeping them warm for the businesses which will use them. the miners and our interest are what will keep the coin healthy until it is picked up by the businesses who will exchange them for urea
5 the July 21st Tender results are:
http://pastebin.com/pYvbAfFJ Liven won by offering 120k urea at 274.77$ someone else can chime in i believe IPL is able to purchase more from others if they need it. something in my head stick out about this being a 1 million tender maybe im confusing the amount. if it was 1 million they'd just use the next handful of lowest bidders
7 Nilesh did the video I doubt hed do an AMA. as we can see Rivaa did not win the tender for July 21st, though according to the GES press release when Rivaa did complete the transaction they mentioned 2 other companies interested but did not state names. there is no way to know if those other 2 companies are a. winners of the ipl tender, or b. transacting uro>urea.
8 The information for Ureatradingindia was released in IRC yesterday, while Bohan said they were made aware their site lacks contact info, it has been offline since then most likely for a revamp. It is my opinion that all 4 niers are affiliated with GES as Vinnisean Pillay and Sigar Singh are representatives on GES commody site. Since their information has been there they dont need a formal introduction. its always been stated to verify with
hk@gescommodity.com who will pass your information to the proper channel. obviously none of us speculators are real importers or we'd have some real information to share with eachother.
11 We can reasonably assume they are informing the clients who have the highest likelyhood of engaging in such a transaction and giving them the information. the daytraders have nothing to do with what the niers are up to. customers of theirs who are going to do buys with uro may cause a price spike if they buy in at once but are not responsible for long term or short term pricing.as 1 million of uro are transferred to the niers the well will dry up and the price will be forced to rise. so long as it provides double digit saving on bank transactions and is worth while to use as a payment vehicle. it will be bought and used as intended.
12 I dont think we need to micromanage the niers just because Bohan hasnt let us proofread documents about uro doesnt mean they dont exist or at least exist in some word of mouth format to anyone calling the niers for normal transactions.
14 Nilesh states on the video that GES started in 1998 in Cairo
15 they may have gotten press in a newspaper which would leave no digital trace. maybe they do it as a tax writeoff
17 maybe theyre waiting to get their uro before buying the book, or maybe they have no clue what to do with 1 million in uro. their business probably isnt built on speculation
25 the GES insolvency was shown to be resolved as per the records purchased here:
http://www.scribd.com/doc/234251300/Green-Earth-credit-report though we dont have any information about nilesh bankruptcy proceedings, i imagine its a private matter.
30 when an order comes through the nier responsible for filling the order has 60-90 days to get urea from the manufacturer closest to the port they will use to that port. the nier would pay for the urea, and accept the uro. a buyer sends a boat to the niers port of choice and the urea is tested and loaded. that completes the transaction, buyer is responsible for navigating the urea to back to their base of operations.
32 it would be fine just to convince these people to use bitcoin, the object was to set up something with a stable price, not that its hard to worry that 1 metric ton costs .4 or .6 bitcoin at current price, the best way that uro helps is in the hedge function. if you want to just buy urea with fiat or bitcoin then whenever you want to buy it get your money or bitcoin together and do it (no risk there) but if you like the current price of $300 per uro you cant buy a bitcoin and expect it to be worth ~2 tons of urea sometime down the road, bitcoin could go up or down, and urea could go up or down. whatever amount of uro you get now is worth that amount in urea anytime from now until 10 years form now (how long the current protocol is valid) this is a hedge against fat, bitcoin, and urea price fluctuations.
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