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

[hobopete]

I expect URO to level off at .0008~.001

I expect it to level off about 0.3 - 0.35

I offer the exact same amount of reasoning that you offer.

 

Ok maybe that was low.. more like 0.002-0.0025 that will be a good place to buy in. and then liftoff to 0.3-0.35

The lower price is good for a short while if it gets more small investors involved and they end up making big gains. i hate to see corporate greed and exploitation succeed. the big buys are all in the 6-8 btc range, about 4k-5k usd at a time and i now suspect stacked to discreetly build a 12500k order wallet.

If it's a bot then we can look for the pattern to start and raise our prices accordingly, true?

[1714781005]

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[1714781005]

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[timpeff]

I expect URO to level off at .0008~.001

I expect it to level off about 0.3 - 0.35

I offer the exact same amount of reasoning that you offer.

 

Ok maybe that was low.. more like 0.002-0.0025 that will be a good place to buy in. and then liftoff to 0.3-0.35

The lower price is good for a short while if it gets more small investors involved and they end up making big gains. i hate to see corporate greed and exploitation succeed. the big buys are all in the 6-8 btc range, about 4k-5k usd at a time and i now suspect stacked to discreetly build a 12500k order wallet.

It won't be that low for long, but until corporations actually start buying and using URO the only incentive for new investors to enter the market will be a low price

[jasemoney]

Something just crossed my mind. By cutting out the commodity exchanges URO gets rid of one important feature - the escrow service. I don't care how legit a company is but shit happens all the time even to the best of us. So, I wouldn't trust anyone with some $4M worth of my money until I can see the goods. That's why commodity exchanges operate first and foremost as escrow services. Is an escrow service for URO being planned?

blockcypher will allow multi sig wallet = escrow

But still there's a need for a trusted entity that would release the funds upon certifying the delivery of goods. I mean anything can happen like an earthquake or a civil war. In this case the seller wouldn't be able to deliver. It's even listed in the boilerplate contract attached to the URO Protocol. While a disaster is too bad for the seller, the buyer would probably want the money back. What guarantees he/she will have?

isnt this what multi signature would do? both parties agree, funds are put into an escrow address, then once they buyer agrees he got what was agreed on funds are released. ive never used multi sig so someone with actual knowledge please chime in, i imagine if you use multi sig and dont want to approve the transaction the original coin owner gets it back?

First of all, miltisignature means that it takes 2 or more digital signatures to release the funds. The funds aren't going to release themselves when the shipment arrives. It takes a 3rd party to certify the facts and relese the funds. Let's say I'm a buyer and I bought something from you. The way things are happening now I've already transferred URO to you (read URO Protocol). You ship it to me but I don't like it or you don't ship it to me. What contemporary court would even consider dealing with a URO-based contract? Now, when there's an escrow service it can see whether the product had been shipped or not. The blockchain won't do that. It takes a living (hopefully honest) human being to do that. That escrow agent would act as a judge of sorts. In real estate title companies take care of that, in CEX the exchange itself. Yet, the boilerplate attached to the URO protocol says "URO first, urea whenever". If this stuff it for real I'm thinking about providing such services... at least hypothetically.

thanks for looking into offering these kinds of services, the only addition thing i have to add which you'd have to verify with true-asset or the companies accepting uro is that i dont think you are forced to pay immediately. though i have no idea what the overall process involved is.

[Raja_ji]

Yes Interesting article by Chandnani    However I would have liked to see future plans of Urocoin; Is there any news from GES to Push Urocoin into Pakistan and other countries that GES are already selling Urea to? Are other Indian Urea buyers taken up Urocoin for Urea? These are the real question that we need clear answers on.

In the interest of holding the Urocoin, most simplest and effective way to move the value of Urocoin up (as done on share market, everyday) The Majority shareholders, which is this group, lifts the price up.

Price Urocoin at 0.07-0.09  The importers will have no choice but buy at the set price, as they have limits with IPL in India, Deadline of when they need to supply UREA or they pay more bond fees (200-300K)

(Interesting Read, clears up some of the questions) BITCOINIST.NET
Mr Armaan Chandnani Interview with Urocoin Dev. Team 28JULY2014

Interview with URO Developers

1. What was the reason for creating a currency based on urea in the first place?
A: the Urea industry is facing increasing inefficiencies with the trading process, particularly in the time and effort required to organize all the financial instruments traditionally used. We saw a way to improve upon the status quo via decentralized payment technology. On the other hand, since we are making a currency, we also wanted to make one that has a more a stable and intrinsic value over the longer term (5 years+) than the existing variants on the market. Recently, our theories on Urocoin have been validated in a University research paper:
http:/[Suspicious link removed]/W4e62gaRY7

http://bitcoinist.net/interview-with-uro-developers/

[FoeRest]

Interview with Uro developers @bitcoinist http://bitcoinist.net/interview-with-uro-developers/

good read +1

now get a interview here http://timesofindia.indiatimes.com/international-home 

[Chang Hum]

Just to counter the comment about my credibility regarding "harassing" Mr Irvine I'd like to point out not I only was I absolutely correct about that, but the mastercoin reflection document was built 100% on the points I'd made and two Journalists Bitcoin Pete, and Kashmir Hill of Forbes quoted me heavily in their articles to the effect that not everyone was duped by the bullshit. Kashmir Hill also approached me for an interview for that article but after she moved the dates of our skype chat 3 times I declined!

[corather]

I expect URO to level off at .0008~.001

I expect it to level off about 0.3 - 0.35

I offer the exact same amount of reasoning that you offer.

 

Ok maybe that was low.. more like 0.002-0.0025 that will be a good place to buy in. and then liftoff to 0.3-0.35

The lower price is good for a short while if it gets more small investors involved and they end up making big gains. i hate to see corporate greed and exploitation succeed. the big buys are all in the 6-8 btc range, about 4k-5k usd at a time and i now suspect stacked to discreetly build a 12500k order wallet.

It won't be that low for long, but until corporations actually start buying and using URO the only incentive for new investors to enter the market will be a low price

I think the buying has already begun. Volume is around 150-200 between the major exchanges. You have to keep in mind all the coins that are being generated by switch pools. After 3 months when the coin switches to a 1 coin per block reward much of that selling will dry up and it'll be left to the traders. The price will increase a good 10 fold from where it is now, so I predict .07 in September.

[Youghoor]

uro for urea is a good concept but implementing such this is a hard challenge so that in order to make it popular some necessary steps should follow so that the basic things will be implemented.

[Splatters]

So seriously,  is the coin "dying"?
I mean this dump is going to last forever?  Or what is?

[cryptoholic11]

Chang,
can you briefly tell me why URO wont work? And why are you persistently bashing it?

[Chang Hum]

Chang,
can you briefly tell me why URO wont work? And why are you persistently bashing it?

It won't work for a lot of reasons I haven't even bothered going into (I've just shown the people behind it aren't what they say they are). I'm persistently bashing it because it's like watching an entire forum of people fall for a Nigerian 419 scam simultaneously which has really grabbed my attention. If I knew when I set out to disprove this it would take so long I might not have bothered.

Go through my post history if you like.

[Raja_ji]

Some Facts:

Urocoin may hit very High this weekend, as Importers of Urea will be looking for Urocoins.

 "Indian Urea Suppliers are catching on to Urocoins". Singh, GES regional Director GES India

GES is moving very heavily into Pakistan and also overcoming the final hurdles with TCP (Pakistan Government Based Importers Urea)

https://twitter.com/GESystemsgroup/status/489587873629237249

Indian to rise Urea Prices from $320   (currently in India Urocoin is equal to $320, as per Indian Gov. IPL. Soon the it is to rise)

https://twitter.com/GESystemsgroup/status/489927117392453632

[corather]

now
I can see you're insulted by being called chinese. So you're a liar and a racist. Good to know!

now you are going too far again! why can't you guys just talk without insulting each other?
Is this your answer when you do not know what else to say? Then, just don't say it all.

I'm just pointing him out to be the shmuck he is. Everything this "chung ham" says is a lie. He wouldn't know the truth if it hit him in the face.

[corather]

I'm not playing your games. Prove to me you're not a liar.

you are such a baby! You do not bring anything worth talking about but just confronting Chung Hum and calling him names.

I'm not calling him anything. I'm branding him dishonest and pointing out his obvious hate issues.

[corather]

And another thing, how do we assume GES accepted "cheap" URO from RIVAA?

Is it not conceivable that they created a private transaction and RIVAA paid GES in BTC for some "cheap" URO that GES acquired from the various trading sites?

GES acquires URO from various trading houses.
RIVAA buys BTC to cover the true value of URO
GES transacts with RIVAA BTC for URO
RIVAA then pays for shipment with URO

That would get the ball rolling without asking the dumbass questions that always arise - Why is GES giving away 3 million dollars worth of fertilizer for $26,000? Mule Muffins, do you really think it went down like that?

[vual]

And another thing, how do we assume GES accepted "cheap" URO from RIVAA?

Is it not conceivable that they created a private transaction and RIVAA paid GES in BTC for some "cheap" URO that GES acquired from the various trading sites?

GES acquires URO from various trading houses.
RIVAA buys BTC to cover the true value of URO
GES transacts with RIVAA BTC for URO
RIVAA then pays for shipment with URO

That would get the ball rolling without asking the dumbass questions that always arise - Why is GES giving away 3 million dollars worth of fertilizer for $26,000? Mule Muffins, do you really think it went down like that?

Smartest thing i have read in this thread for a long time (please dont remove this post... am i allowed to agree? )

[corather]

And another thing, how do we assume GES accepted "cheap" URO from RIVAA?

Is it not conceivable that they created a private transaction and RIVAA paid GES in BTC for some "cheap" URO that GES acquired from the various trading sites?

GES acquires URO from various trading houses.
RIVAA buys BTC to cover the true value of URO
GES transacts with RIVAA BTC for URO
RIVAA then pays for shipment with URO

That would get the ball rolling without asking the dumbass questions that always arise - Why is GES giving away 3 million dollars worth of fertilizer for $26,000? Mule Muffins, do you really think it went down like that?

"GES acquires URO from various trading houses" which trading houses??
I thought URO did not depend on BTC?

There was no IPO and no premine so they'd have to get it from somewhere and the 20,000 some odd dollars was already accounted for in bank fee savings.

[cryptodevil]

"GES acquires URO from various trading houses" which trading houses??
I thought URO did not depend on BTC?

Dude, you and Chang are so busy running around screaming abuse at people about how the sky is falling you don't actually even appear to understand how a crypto-as-commodity project would work in the first place.

Again, I still reserve judgement on whether this particular project is genuine, but the concept is still the same.

'URO' has to be bought by the partner who wishes to buy the UREA.
Chances are that, in this situation, Rivaa would get it from GES at a discounted price, but not necessarily as discounted as it currently is to the open market. But that is speculation, it could be that they were enticed into this deal solely because, as first-to-market with this concept, they'd be able to capitalise on the difference in URO price in the open market at this time.
However they purchase URO it would need to be transmitted to GES as a payment for the UREA specified in whichever agreement is in force (we don't actually have sight of the GES-Rivaa shipment agreement do we?, only the Rivaa-IPL one)
GES hold on to the URO coins until they are much closer to the FIAT price of a tonne of UREA and, if need be, sell it off for FIAT until they can get whomever their supplier is to accept URO for payment of physical UREA.

Technically, GES could keep on selling the URO back to Rivaa for FIAT so Rivaa can use it for another payment. The benefit being that the URO coin transfers are done in real time and can be held in multisig escrow until the FIAT funds are where they are supposed to be. If the customer were to fail to settle the FIAT payment for the URO, GES could sell the coins either to another customer or to the open market which would, hopefully, have had sufficient confidence in the validity of the active trading for the price to be the proper market dollar value of one tonne of UREA.

Remember, it can take months and months for the FIAT banking side of these kinds of trade deals to be arranged and transmitted, and also involve very large bank fees, so the use of URO allows for transactions to be real-time and held to one side while the FIAT catches up, where it meets the entry/exit point for FIAT in that situation.

Once URO is trading at market price for one tonnne of UREA, buyers would seek to purchase it ahead of trade deals for physical product in order to get a better deal if they believe the future market for UREA would increase in price. Buying at <>USD300 now, say, in order to make a physical transaction for a shipment of UREA in another deal for next year where the price for UREA, and the subsequent market value of the 'URO' might be <>USD320

It would bring enormous benefits to this market, truly revolutionary.

[majeis]

"GES acquires URO from various trading houses" which trading houses??
I thought URO did not depend on BTC?

Dude, you and Chang are so busy running around screaming abuse at people about how the sky is falling you don't actually even appear to understand how a crypto-as-commodity project would work in the first place.

Again, I still reserve judgement on whether this particular project is genuine, but the concept is still the same.

'URO' has to be bought by the partner who wishes to buy the UREA.
Chances are that, in this situation, Rivaa would get it from GES at a discounted price, but not necessarily as discounted as it currently is to the open market. But that is speculation, it could be that they were enticed into this deal solely because, as first-to-market with this concept, they'd be able to capitalise on the difference in URO price in the open market at this time.
However they purchase URO it would need to be transmitted to GES as a payment for the UREA specified in whichever agreement is in force (we don't actually have sight of the GES-Rivaa shipment agreement do we?, only the Rivaa-IPL one)
GES hold on to the URO coins until they are much closer to the FIAT price of a tonne of UREA and, if need be, sell it off for FIAT until they can get whomever their supplier is to accept URO for payment of physical UREA.

Technically, GES could keep on selling the URO back to Rivaa for FIAT so Rivaa can use it for another payment. The benefit being that the URO coin transfers are done in real time and can be held in multisig escrow until the FIAT funds are where they are supposed to be. If the customer were to fail to settle the FIAT payment for the URO, GES could sell the coins either to another customer or to the open market which would, hopefully, have had sufficient confidence in the validity of the active trading for the price to be the proper market dollar value of one tonne of UREA.

Remember, it can take months and months for the FIAT banking side of these kinds of trade deals to be arranged and transmitted, and also involve very large bank fees, so the use of URO allows for transactions to be real-time and held to one side while the FIAT catches up, where it meets the entry/exit point for FIAT in that situation.

Once URO is trading at market price for one tonnne of UREA, buyers would seek to purchase it ahead of trade deals for physical product in order to get a better deal if they believe the future market for UREA would increase in price. Buying at <>USD300 now, say, in order to make a physical transaction for a shipment of UREA in another deal for next year where the price for UREA, and the subsequent market value of the 'URO' might be <>USD320

It would bring enormous benefits to this market, truly revolutionary.

If you take the time to compare what you've written against the "official facts," you'll find that they don't really align with each other.

Every post I've made in this thread that the moderators or "devs" didn't specifically address has been deleted, so there's no point in telling you why.

You'll come to this same realization when they delete your post. Just read your fourth block of text that begins with "Technically..."

[cryptodevil]

you can blame me but Chung has been around here for a while. he could give you some advice of how crypto community works.

I don't need advice about how this snake-pit works. But, ok, maybe it was only Chang hurling insults around as I don't recall you specifically doing it although you are throwing a lot of irrelevancy into the mix. GES Australia's history and status is actually not evidence of this deal being a scam, as these kinds of handshake-with-the-right-person situations usually only need a bunch of paperwork and getting yourself in-between two of the traders so you can get a cut as a middle-man.

Even Nilesh having his wife as Director and Shareholder is an *extremely* common structure, just check out how politicians use the same process all the time when they are trying to do something 'on the side'.

Trade deals of this size, if they were being done in the US, would usually have two very large squeeky-clean corporations with a manufactured public image and web presence to match. The dirty-dealings would be entirely done 'off-the-chain', as it were.

Trade deals of this size involving countries that have a somewhat looser approach to business regulations and presentation, only need the right person to get into an 'arrangement' with somebody else who is also 'the right person. So a sloppy business structure for GES is not evidence of scam.

Caveat: I'm still reserving judgement either way.

Why do you say that URO would 'never' be USD300? Give your reasoning behind that statement.