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

[studio1one]

Here is more

http://www.wbcomtax.nic.in/General_Information/Deemed_Assessment_list2_web.pdf

Green Earth Systems mentioned on the official website of the Directorate of Commercial Taxes for the Govt. of West Bengal

Not to pick hairs but GES were the receiver of those goods, not the shipper.

Sorry you're right but either way it showed they have the capital to order 20 tons of leather.

It's a couple pages back, I know, but let me quickly look at this one.

The PDF specifically says this is for "DEALERS WITH TOTAL SALES LESS THAN RS. 3.00 CRORE". Okay, so how much is 3.00 CRORE? Apparently, 1 CRORE = 10,000,000, and we're dealing with Indian rupees. So, less than 3 CRORE means less than 30 million rupees. It's roughly 60 rupees to the dollar right now, so all we can say for sure is that according to this PDF (what year is this for?), Green Earth Systems had less than $500,000 of sales.

How does a company with less than $500K of sales back trades of urea worth apparently $7.5 million? And they had shipments of leather and girls clothing about a year ago, which proves... um... what does it prove?

Best case I see for URO at this point is that it turns out you can buy 1 ton of urea with 1 URO... only to find that shipping of the urea will cost you $300 per ton and it's not part of the contract. LOL

To be fair that is only business in bengal.  Doesn't mean business is not bigger elsewhere

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[jasemoney]

I think the issue is what is in it for Rivaa to tell the world?

Nothing, but GES and The URO Foundation *need* URO to reach <>$300 value in order for the concept to work and they could do that by, not posting web 'news' announcements which are meaningless, but by posting copies of actual contractual evidence and the paperwork they would have to have for the shipment transit.

As I said, people who scoff at the idea of URO=1tonne of UREA, on the basis that they can't wrap their heads around commodities trading, are just ignorant about the components of how transactions would work for the businesses involved who are actually shipping physical goods and who would not at all be 'giving away' UREA at sub-market prices, as long as the coin value floor can rise to meet the required price.

That is why GES need to come up with the proof of their side of the deal actually having substance.

Their 'press' announcements given on the website and twitter are simply not acceptable proof for the market.

 They don't have to convince anyone here of anything, because no one here has enough money to matter.  

They have to convince people who buy urea in bulk, which is no one on bitcointalk.

Hell yeah, guess where community support got League of Legends... Boom Cease & Desist, where were you scam calls then bizzos

where were you nutcases to save our VRC from mintpal?

GES and Rivaa dont owe you internet detectives a single nuthair. believe or not. PS the paperwork just got signed you think the ureas even loaded yet and you expect Bohan to provide proof its arrived? SIMMER DOWN
*edit sorry for back posting i cant stand reading this thread*

[solid12345]

China + less competition

Still I just find it hard to believe a bunch of crypto nerds gambling away parts of their paychecks could pump a coin in just days from 4 dollars to 40 like LTC did but its inconceivable multi-million dollar companies can't support a profitable currency. Hell look at how long Doge held high with all that inflation and most of its supporters were young people who make very little money.

[cryptodevil]

At $300 a coin, you need $1.7 million new dollars entering every day, just to buy up the mined coins. That money has to then *hold* the coins, not trade them, or the price will start to drop.

So every day, $1.7 million has to enter the Uro market and stay there.

That level of cash just isn't in the crypto markets.  It's not.

No, you're missing the point, you are treating it like currency when it's not, it's commodity. Most coins bought are just going to be passed around the markets, not sent to traders to pay for UREA.

In six months time there will be a total of 1,000,000 coins in circulation, the block reward will then drop to <>273 coins per day, which is only <>USD82,000 per day in value being added to the market if the price is USD300 per coin, not exactly a stretch given the extremely rapid trading rate in crypto.

So the first six months will, potentially, if this project is genuine, offer the early-adopters a chance to buy up coins for holding before the actual UREA traders start to seek out URO coin for purchase in order to transact deals with the suppliers who are accepting URO as payment.

In the meantime, as I mentioned, companies like GES *need* to convince us, the lowly and often highly unstable, crypto markets, that they are actually transacting in URO deals before they reach the point of needing to ever change any of the URO they receive in payment for FIAT currency.

*Potentially* they could convince the market to accept this value before ever needing to transmit FIAT to whomever they are buying their UREA from or they *might* have a sufficient credit-line with a supplier that would allow them a grace period of several months, by which time we'd all know without doubt if they were doing as they say and actually trading by way of URO.

[Bitcycle]

China + less competition

Still I just find it hard to believe a bunch of crypto nerds gambling away parts of their paychecks could pump a coin in just days from 4 dollars to 40 like LTC did but its inconceivable multi-million dollar companies can't support a profitable currency. Hell look at how long Doge held high with all that inflation and most of its supporters were young people who make very little money.

Sure, when the companies are involved, it's possible.

It's not possible with the crowd that's currently in the market.

Look at the 24 hr volumes here, which are in USD.  That's how much volume is actually happening in these markets.

And we all know most of that volume is just sloshing back and forth between a couple thousand traders every day.  The actual new money coming in is tiny.

http://www.worldcoinindex.com/Volume

Market cap is a completely misleading statistic for this purpose.

[solid12345]

*Potentially* they could convince the market to accept this value before ever needing to transmit FIAT to whomever they are buying their UREA from or they *might* have a sufficient credit-line with a supplier that would allow them a grace period of several months, by which time we'd all know without doubt if they were doing as they say and actually trading by way of URO.

Let me throw a monkey wrench if I may. If Rivaa is going for that 1 million ton contract from India Potash, they are going to do all they can to buy up every last URO on the exchange and will buy up the order book to at least $200 if they have to, because buying a coin even for $200-$250 and getting roughly $300 USD back is still very profitable.

I think the plan is to get as much of the remaining 200-250k coins as possible and then they will pay for the rest of the Urea in fiat to fulfill that 1 million order. This is how they will undercut every other bidder on the market and make tons of profit. So if you are holding URO now you might not have to wait very long to make out profitably...

[corather]

haha and you have credibility becuz you believe in uro aurocoin and mazacoin for their long term value?

haha. this is just a pump and dump. i am a member of several large btc groups and this is just be traded on the dips to take newbs money. no one trading right now believes in uro at all. 

And like some guy who puts a sexual position in his name and talks like a 14yo has anything meaningful to say either.

says the guy who uses an idiots luggage combination for his name... spaceballs reference, anyone?

I'm going to have to change the combination on my luggage...

[loges]

China + less competition

Still I just find it hard to believe a bunch of crypto nerds gambling away parts of their paychecks could pump a coin in just days from 4 dollars to 40 like LTC did but its inconceivable multi-million dollar companies can't support a profitable currency. Hell look at how long Doge held high with all that inflation and most of its supporters were young people who make very little money.

Never underestimate the buying power of the gullible masses... cough Uro cough

[traumschiff]

*Potentially* they could convince the market to accept this value before ever needing to transmit FIAT to whomever they are buying their UREA from or they *might* have a sufficient credit-line with a supplier that would allow them a grace period of several months, by which time we'd all know without doubt if they were doing as they say and actually trading by way of URO.

Let me throw a monkey wrench if I may. If Rivaa is going for that 1 million ton contract from India Potash, they are going to do all they can to buy up every last URO on the exchange and will buy up the order book to at least $200 if they have to, because buying a coin even for $200-$250 and getting roughly $300 USD back is still very profitable.

I think the plan is to get as much of the remaining 200-250k coins as possible and then they will pay for the rest of the Urea in fiat to fulfill that 1 million order. This is how they will undercut every other bidder on the market and make tons of profit. So if you are holding URO now you might not have to wait very long to make out profitably...

Cant +1 enough

[Raja_ji]

GREEN EARTH massive Solar Projects: RENEWABLE ENERGY
Document by Eagle feather Research Institute published in 2011
New York State Landfill Methane Project - Rodman, N.Y.
Iowa Lakes Wind Energy & Turbine Program - Estherville, Iowa
California Solar Projects - Aliso Viejo, Stockton, Ontario, and
Anderson, Calif.
New Bedford Landfill Methane Project - New Bedford, Mass.
North Country Landfill Methane Project - Bethlehem, N.H.
Carbonfund.
Horse Hollow Wind Energy Center - Taylor and Nolan County,
Texas
Summersville Low Impact Hydroelectric Facility - Summersville,
W.V.
Chino Basin Dairy Farm Biodigester - Chino Basin, Calif.

13 Feb 2013 - https://plus.google.com/104913222940259570625/posts/HwvqHMKiYQZ

http://www.eaglefeather.org/pages/news_pdfs/News_030109.pdf
http://greenearthsystems.com.au/renewable-energy/solar/solar-photovoltaics/stand-alone-system/

[AlfaONE]

Textiles is a 100Billion Dollar industry - GES is in with the Big Industries
Most "Asian/Indian/Middle Eastern/African" Business do more then 1 line of business, it is called 'Cross sales" 

Courteousy of Cuttlefish on twitter

http://www.tradesparq.com/Customs/583589/Customs-Data-Green-Earth-Systems-Ltd

48 trades have been done with GES by that Los Angeles company

Teneria El Progreso, S.A.   Freight Collect Clothing Big Girl Cherokee 100- Cotton Ss Ultimate Tee Target.Com Po No-5997251 Amc No- 01386243 Qtys- 534 Pcs    BOL: APLU902117433
Quantity: 89 (pieces)   2013-08-31
Teneria El Progreso, S.A.   Freight Collect Clothing Big Girl Cherokee 100- Cotton Ls Ultimate Tee. Target.Com Po No-5997281 Amc No- 01386255 Qtys- 864 Pcs    BOL: APLU902117434
Quantity: 144 (pieces)   20

child clothers? wtf?

[hobopete]

Question for the scambusters....How, exactly, can anyone make money "scamming" on a coin with zero premine, with a hashrate so high that even the biggest pools take hours to find a block, with 12 coins per block, and collecting 12500 at a kick into the scam wallets, at 50,000 usd per each wallet, when the market price has already peaked hugely, and is now depressed? so you're saying the developer is paying out 50k at a flop to convince you to buy the coin at a slightly higher rate than it sells for now? The pump was caused by greedy traders who attempt to manipulate the market, most of the activity on the market is just traders pushing around coins to make pennies. so where and how does the dev make the big money? How many times does he have to spend 50k to fill a wallet for the so called fake order before he gets the payout?

[Raja_ji]

What makes Uro Unique ‘Alt.Coin”

URO Facts that have been verified online and via emails through many sources:. So far..

1: The only Alt.Coin to Provided 100% documents and confirmed by International Banks, International Companies, Indian Government

2: Urocoin on all major Exchanges

3: Major Press coverage

4: Real Dev. Team who shows passion and love for the Urocoin.  Live Video talk backs – Q and A
Very Active Dev. Team from day1

5: The Only Alt.Coin to be backed by Real Commodity (min of 10year potential) how the trading market should be (you can sleep knowing the fact when you are up Urocoin will be here)

6: exchange Urocoin for Real shipment Urea

7: No premine and no IPO

8: 1 Million Coins Released in First 6 Months + 100K per year mining retainer rewards

Highest Hashrate and Difficulty of all X11 Class Cryptocurrencies | Consistently the most profitable X11 Cryptocurrency to Mine |Simple and reliable rewards schedule | Stable and mature codebase with no surprises | Long term infrastructure for long term results | Safe 3 minute block time - low orphans and reasonable transaction time | Minimum transaction fees


your money, your choice

1 URO = $339USD

“First they ignore you, then they laugh at you, then they fight you, then you win.” Gandhi

[hobopete]

Here's a simple experiment- stop selling it and see if the buy offers start going up. If they can get it cheap, they'll buy it cheap. If no one is selling they have to up the ante. Cancel all your sell orders, and see what offers begin coming out on the buy order side. Spread this to everyone you know. then we'll know if those corporations which need this for their plan are buying up the coin supply. CANCEL ALL SELL ORDERS, AND DON'T SELL EVEN IF IT GOES TO 2-3-4-10X CURRENT PRICE. IF THE OFFERS STEADILY RISE IT WILL BE A GOOD INDICATOR OF DEMAND FROM BUYERS OTHER THAN THE CRYPTOTRADERS, BUT CAN ONLY BE DONE IF THE COMMUNITY GETS INVOLVED.

[stormia]

Question for the scambusters....How, exactly, can anyone make money "scamming" on a coin with zero premine, with a hashrate so high that even the biggest pools take hours to find a block, with 12 coins per block, and collecting 12500 at a kick into the scam wallets, at 50,000 usd per each wallet, when the market price has already peaked hugely, and is now depressed? so you're saying the developer is paying out 50k at a flop to convince you to buy the coin at a slightly higher rate than it sells for now? The pump was caused by greedy traders who attempt to manipulate the market, most of the activity on the market is just traders pushing around coins to make pennies. so where and how does the dev make the big money? How many times does he have to spend 50k to fill a wallet for the so called fake order before he gets the payout?

Yes, I've presented this argument as well and even Chang seems unable to reconcile this with his accusations of a scam.

I also don't understand how you think they stand to profit/benefit from this ordeal if it is a scam... there was no premine or IPO. How is it worth it for them to put their lives on the line for... what?

They're getting out today, that letters dated 6 months ago. I expect the original idea was to send a small order effectively for free then dump the 12500 but it's backfired.

Edit sorry they're saying they have 25000, I don't think it really matters as 12500 will dump it nothing.

There's his reply. Doesn't really address the point at all.. Funny how he says "they're saying they have 25000" when in fact the devs have never claimed to have any of these different balances of 12500 (there are now four separate addresses with 12500)- those would belong to the people interested in purchasing Urea, namely Rivaa.

[stormia]

Here's a simple experiment- stop selling it and see if the buy offers start going up. If they can get it cheap, they'll buy it cheap. If no one is selling they have to up the ante. Cancel all your sell orders, and see what offers begin coming out on the buy order side. Spread this to everyone you know. then we'll know if those corporations which need this for their plan are buying up the coin supply. CANCEL ALL SELL ORDERS, AND DON'T SELL EVEN IF IT GOES TO 2-3-4-10X CURRENT PRICE. IF THE OFFERS STEADILY RISE IT WILL BE A GOOD INDICATOR OF DEMAND FROM BUYERS OTHER THAN THE CRYPTOTRADERS, BUT CAN ONLY BE DONE IF THE COMMUNITY GETS INVOLVED.

Yup, if urea purchasers are smart they will be trying to accumulate it as cheap as possible. Which might also explain why they aren't rushing to provide publicity/validation of the Uro because then the price will shoot up.

[hobopete]

Here's a simple experiment- stop selling it and see if the buy offers start going up. If they can get it cheap, they'll buy it cheap. If no one is selling they have to up the ante. Cancel all your sell orders, and see what offers begin coming out on the buy order side. Spread this to everyone you know. then we'll know if those corporations which need this for their plan are buying up the coin supply. CANCEL ALL SELL ORDERS, AND DON'T SELL EVEN IF IT GOES TO 2-3-4-10X CURRENT PRICE. IF THE OFFERS STEADILY RISE IT WILL BE A GOOD INDICATOR OF DEMAND FROM BUYERS OTHER THAN THE CRYPTOTRADERS, BUT CAN ONLY BE DONE IF THE COMMUNITY GETS INVOLVED.

Yup, if urea purchasers are smart they will be trying to accumulate it as cheap as possible. Which might also explain why they aren't rushing to provide publicity/validation of the Uro because then the price will shoot up.

Trying to get the traders to drop this bone is like trying to get the American Congress to agree on something. If the traders will go play somewhere else, and the miners will hold for a few days, we will have proof that there is outside interest in this coin if the buy orders continue to stack up. And you'll make much more when you do sell. Time for talking is done, let's see some action. Lock down your wallets, or you really are making someone else rich. Like working for minimum wage. that's how business works. EXPLOITATION=PROFIT Been that way for centuries.

[hobopete]

Thanks for the support stormy!

[Raja_ji]

In India - the min. amount to import is 25,000MT UREA as stated by IPL.  What the Importer RIVAA is doing is 100% correct and hence buying 25,000URO of the market for peanuts. 
There was news on the IRC that Rivaa is buying again
It is also interesting that Rivaa brought Urocoin in small amounts and not just requested 25,000Urocoins on the buy. smart people.

[hobopete]

In India - the min. amount to import is 25,000MT UREA as stated by IPL.  What the Importer RIVAA is doing is 100% correct and hence buying 25,000URO of the market for peanuts. 
There was news on the IRC that Rivaa is buying again
It is also interesting that Rivaa brought Urocoin in small amounts and not just requested 25,000Urocoins on the buy. smart people.

It's not interesting, it's capitalism. buy low, sell high.  we cannot know exactly what they are doing. If there is a scam here, it's perpetrated by those who are demanding proof in the form of letters and emails and interviews. Don't tell me about it- show me the money. If you want uro to equal one metric tonne per coin, then start paying at least close to that amount to buy them from the miners. I don't begrudge them a profit- that's how business works. There has to be a margin. If you want proof, make them pay market price. Simple. Once they gain control of enough coin to fulfill their contracts they don't have to buy any more, and it becomes worthless to anyone except them, can you understand this? STOP SELLING!!!!