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

[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?

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 it's almost impossible.

OIL IS TRADED IN US DOLLARS. ONLY. THAT'S IT. JUST US DOLLARS, ONLY, NOTHING ELSE. DOES THAT ANSWER YOUR QUESTION YOU NUB FOR BRAINS?

OIL IS PEGGED TO THE US DOLLAR. ONLY, NOTHING ELSE, IT'S ONLY TRADED IN USD. 

OKAY? Moron?

[corather]

From wiki

Currencies used to trade oil

Since the agreements of 1971 and 1973, OPEC oil is exclusively quoted in US dollars. This created a permanent demand for dollars on the international exchange markets.[2][3] As of 2005, OPEC continues to trade in US Dollars, but some OPEC members (such as Iran and Venezuela) have been pushing for a switch to the euro.

[corather]

Go ahead chang, Argue WITH FUCKING OPEC. Cmon shit for brains. Go ahead.

[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 it's almost impossible.

OIL IS TRADED IN US DOLLARS. ONLY. THAT'S IT. JUST US DOLLARS, ONLY, NOTHING ELSE. DOES THAT ANSWER YOUR QUESTION YOU NUB FOR BRAINS?

OIL IS PEGGED TO THE US DOLLAR. ONLY, NOTHING ELSE, IT'S ONLY TRADED IN USD. 

OKAY? Moron?

Ok.. moron..

To peg something means to have a fix value for 1 tone of goods or for 1 barrel or for 1 Mexican dollar
To trade something means to exchange 1 of this good vs x or this currency or goods depending on the market price.

Oil was never pegged to the us dollar it was traded in us dollars , big difference.

[corather]

And why did they do that chang? Why did they trade oil for USD?

Cmon chang, I know you know this one.

Use that walnut you have behind your eyes for something more than a hat rack.

Why do they trade oil for USD? Because it was backed by the strongest credit rating in the world, at least at the time. Things have changed with President Zero, but the fact remains, most oil is traded exclusively in USD. OIL IS PEGGED TO THE DOLLAR. End of discussion you twat fart.

[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?

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 it's almost impossible.

OIL IS TRADED IN US DOLLARS. ONLY. THAT'S IT. JUST US DOLLARS, ONLY, NOTHING ELSE. DOES THAT ANSWER YOUR QUESTION YOU NUB FOR BRAINS?

OIL IS PEGGED TO THE US DOLLAR. ONLY, NOTHING ELSE, IT'S ONLY TRADED IN USD. 

OKAY? Moron?

Ok.. moron..

To peg something means to have a fix value for 1 tone of goods or for 1 barrel or for 1 Mexican dollar
To trade something means to exchange 1 of this good vs x or this currency or goods depending on the market price.

Oil was never pegged to the us dollar it was traded in us dollars , big difference.

The dollar fluctuates in value just like crypto currency. There is no difference. Once the unit was set and traded exclusively it became pegged. URO is the same damn way. Yes you get 1 tonne of urea for 1 URO, but how much BTC does a URO cost? Exactly. It fluctuates just like the USD

God damn people are fucking stupid.

[Crypto_Enthusiast]

Could we stop discussing oil & swearing at each-other and instead keep the discussion related to URO please?

[corather]

Thank you for making my argument for me you fucking moron. OIL is pegged to USD, usd fluctuates, so does oil. URO is pegged to Urea, URO fluctuates, so does Urea. OMG man, you're so fucking brilliant I can almost see the shine from your bald head!

Thank you chang! thank you very much!

[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 it's almost impossible.

OIL IS TRADED IN US DOLLARS. ONLY. THAT'S IT. JUST US DOLLARS, ONLY, NOTHING ELSE. DOES THAT ANSWER YOUR QUESTION YOU NUB FOR BRAINS?

OIL IS PEGGED TO THE US DOLLAR. ONLY, NOTHING ELSE, IT'S ONLY TRADED IN USD. 

OKAY? Moron?

Ok.. moron..

To peg something means to have a fix value for 1 tone of goods or for 1 barrel or for 1 Mexican dollar
To trade something means to exchange 1 of this good vs x or this currency or goods depending on the market price.

Oil was never pegged to the us dollar it was traded in us dollars , big difference.

The dollar fluctuates in value just like crypto currency. There is no difference. Once the unit was set and traded exclusively it became pegged. URO is the same damn way. Yes you get 1 tonne of urea for 1 URO, but how much BTC does a URO cost? Exactly. It fluctuates just like the USD

God damn people are fucking stupid.

I can't really believe you are a senior member and still a newbie in economics.

First thing : you claim that traded and pegged are the same things.
Seems like you don\t want to listen in this case so i'm not going to argue further , use wikipedia for this.

Second.
1 uro as meant to be traded 1 tone of urea just as you say oil is traded for us dollars.

the bad thing is that the price of oil , since is TRADED and not pegged varies:



Now , how this association good in theory has a flaw which might prove a headache for uro traders?

The thing called supply and demand.

Basically there could be a high demand for urea so urea consumption might double and thus you will either have to increase the number of coins or split the value.

If you increase the number of coins and then demands take a dump in order to maintain the price you will need to either (have the uro foundation buy all the available urea in order to maintain the price and act as a central bank) or destroy coins (impossible).

If you go the other way and say 1 uro coin is valued at 1.5 tons of urea the whole idea of pegging is thorn apart.

ps.
stop making enemies and calling people names just because they don't agree with you.
On this board when defenders and bag holders of an alt coin start shouting like it's 90% a swan song

[corather]

That is unable to process data, or make a viable argument. No, all you can do it sit there on your keyboard and spout mental retardation. I'm sorry your mother smoked crack and drank when she was pregnant with you. And I'm sorry for your Marijuana addiction. It's okay bruh, you'll see the light some day and realize how much of a useless piece of shit you are.

[corather]

It IS pegged to the dollar. doesn't mean the dollar and oil can't fluctuate you mental midget!

Nothing is ever 1:1 except your unique ability for stupid Chang.

[niothor]

It IS pegged to the dollar. doesn't mean the dollar and oil can't fluctuate you mental midget!

Nothing is ever 1:1 except your unique ability for stupid Chang.

peg To fix (a market price), and prevent fluctuation, by buying all that is offered at that price, thus preventing any lower quotations from being made, or selling all that the market will take at that price, thus preventing higher quotations.

[Frigga77]

Could we stop discussing oil & swearing at each-other and instead keep the discussion related to URO please?

FUD

Even if the price of URO would still go down, there is always the possibility to gather 12500  (maybe some joined forces) and trade urea for a good price between suppliers that signed the protocol and some interested buyers that are paying a good price (let's say 150 dollars per mt). That would still be a huge profit! And guess what will happen after that...

[corather]

"Investopedia explains 'Pegging'

1. Most countries peg their exchange rate to that of the United States.

2. An investor writing a put option would practice pegging so that he or she will not be required, due to lowering prices, to purchase the underlying security or commodity from the option holder. The goal is to have the option expire worthless so that the premium initially received by the writer is protected.
"

Does this mean I'll always get 1 dollar for every Peso?

NOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO

PEGGED, TRADED, SAME DAMN THING WHEN IT COMES TO CURRENCY YOU FUCKING IDIOTS. EVERYTHING FLUCTUATIONS! NO EXCEPTIONS!

MY FUCKING GOD YOU'RE ALL FUCKING MORONS. I AM THE ONE EYED MAN IN THE LAND OF THE BLIND AND DUMB.

[corather]

Just like Bitcoin is pegged to other currency and the WHOLE FUCKING ALTCOIN MARKET IS PEGGED TO BITCOIN.

What else can you buy with HOBONICKELS? CAN YOU BUY MILK? HOW ABOUT AN EDUCATION FOR CHANG? NO BUT YOU CAN BY SOME BITCOIN WITH THEM.

[Frigga77]

Please stop swearing and reacting like children in this thread.
It is doing no good to this thread, people will walk out.

[corather]

I've had it up to "here" with all you fucking morons.

Well not all of you, only the complete retards.

[corather]

Please stop swearing and reacting like children in this thread.
It is doing no good to this thread, people will walk out.

Okay.

Ask nicely, things get done.

[corather]

http://www.investopedia.com/terms/p/pegging.asp

Pegging
  A A A
Definition of 'Pegging'

1. A method of stabilizing (not preventing fluctuations, only minimizing them) a country's currency by fixing its exchange rate to that of another country.

2. A practice of an investor buying large amounts of an underlying commodity or security close to the expiry date of a derivative held by the investor. This is done to encourage a favorable move in market price.

Investopedia explains 'Pegging'

1. Most countries peg their exchange rate (meaning a fluctuating rate) to that of the United States.

2. An investor writing a put option would practice pegging so that he or she will not be required, due to lowering prices, to purchase the underlying security or commodity from the option holder. The goal is to have the option expire worthless so that the premium initially received by the writer is protected.

[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?

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 it's almost impossible.

OIL IS TRADED IN US DOLLARS. ONLY. THAT'S IT. JUST US DOLLARS, ONLY, NOTHING ELSE. DOES THAT ANSWER YOUR QUESTION YOU NUB FOR BRAINS?

OIL IS PEGGED TO THE US DOLLAR. ONLY, NOTHING ELSE, IT'S ONLY TRADED IN USD.  

OKAY? Moron?

Ok.. moron..

To peg something means to have a fix value for 1 tone of goods or for 1 barrel or for 1 Mexican dollar
To trade something means to exchange 1 of this good vs x or this currency or goods depending on the market price.

Oil was never pegged to the us dollar it was traded in us dollars , big difference.

The dollar fluctuates in value just like crypto currency. There is no difference. Once the unit was set and traded exclusively it became pegged. URO is the same damn way. Yes you get 1 tonne of urea for 1 URO, but how much BTC does a URO cost? Exactly. It fluctuates just like the USD

God damn people are fucking stupid.

I can't really believe you are a senior member and still a newbie in economics.

First thing : you claim that traded and pegged are the same things.
Seems like you don\t want to listen in this case so i'm not going to argue further , use wikipedia for this.

Second.
1 uro as meant to be traded 1 tone of urea just as you say oil is traded for us dollars.

the bad thing is that the price of oil , since is TRADED and not pegged varies:



Now , how this association good in theory has a flaw which might prove a headache for uro traders?

The thing called supply and demand.

Basically there could be a high demand for urea so urea consumption might double and thus you will either have to increase the number of coins or split the value.

If you increase the number of coins and then demands take a dump in order to maintain the price you will need to either (have the uro foundation buy all the available urea in order to maintain the price and act as a central bank) or destroy coins (impossible).

If you go the other way and say 1 uro coin is valued at 1.5 tons of urea the whole idea of pegging is thorn apart.

ps.
stop making enemies and calling people names just because they don't agree with you.
On this board when defenders and bag holders of an alt coin start shouting like it's 90% a swan song

You have two fluctuating units in an oil trade. The dollar and oil. both are subject to market forces.

The same thing applies to Uro with this exception Uro fluctuates, BTC that uro is traded against fluctuates and Urea itself fluctuates. You can peg a unit of Urea against a unit of URO because it can fluctuate against BTC.

How much BTC does it cost to buy one URO? The price will never be the same on a day to day basis. It might take .2 btc, or .5 BTC, the only difference is the decimal point. USD works the same way except is has no other way to express another value except one dollar without inflating or deflating. There is no difference between the USD and bitcoin. USD fluctuates as much as bitcoin does, you just don't see it in every day life.

http://www.marketwatch.com/investing/index/dxy