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

[Cryptourologist]

Well its still same FUD fight as several weeks before, wonder why U ppl still wasting Your time on this..

This is one of the strangest things. The coin seems to be dead, but somebody comes in almost every day to fud. Why would they?

[Frigga77]

On 10th of july 2014 ,MR HARISH VIRMANI DIRECTOR of M/ S, RIVAA EXPORT LTD have signed contract of 25000 metric tonn of urea fertilizers with M/S, GREEN EARTH SYSTEMS , HK IMPORTATION. UREA IS THE WORLDS MOST WIDELY USED FERTILIZERS AND IS RESPONSIBLE FOR MORE THAN 50% of world food production.

"RIVAA SUPPORTS UROCOIN"

Outside of the hundreds of pages of utter twaddle, accusation and deranged name-calling, these two highlighted parts, in that they are posted on Rivaa's website and not GES, say all that needs to be said about whether the URO project is genuine.

It clearly is.

Up until this point I had only read of GES posting their own 'news', which wasn't exactly an independent resource. Seeing that Rivaa actually confirmed, not just the deal but, the use of URO for it, I think we can safely say that it is for real. This update to their website passed me by if it has been pointed out previously, probably because of the pages of abuse that build up here.

Ranting about whether companies or persons connected to the deal are, or are not, or could be, physical, virtual, struck off, bankrupt, restored, held in nominee, or generally just shooting for the moon while hoping they strike it lucky before failure catches up with them, well, that's just business in general all over the world and basing your claim of scam on any of it is to call nigh-on all business projects fraudulent.

I totally agree

[HappyHogan]

Well its still same FUD fight as several weeks before, wonder why U ppl still wasting Your time on this..

This is one of the strangest things. The coin seems to be dead, but somebody comes in almost every day to fud. Why would they?

Most people here are not fudders, but critical investors. I'm 100% sure people like Chang and Truthful own Uro.

[elkrisi]

Weird stuff!

Hobopete disappears with a very cryptic "Over"

That is the very thread that he started to prove or disprove URO. I find it very disturbing that a person who was so talkative here, a person who took so deep interest in URO just erases all his posts in his own thread which he specifically started as an honest investigation.

I've been following this URO adventure for quite some time now and these are my conclusions so far:

1. URO is not a scam. But it is also not what it claims to be, that is 1 URO = 1mton of UREA.
If it was a scam we would never see any face or names or even a properly working wallet like someone pointed out here.
If it was 1 URO = 1mton of UREA, on the other hand, URO price should start and fluctuate around UREA's price, that is 0.6 BTC or so.

2. URO was (and perhaps still is) a long shot. An honest effort to MAKE IT HAPPEN.
Like some other contributor here wrote, URO's team are good salesmen. They had an idea and tried to make it into reality. So they made the protocols and perhaps did manage to persuade some real players in the urea market to play it along.

Unfortunately, this idea has a lot of failure points:
Whatever advantages one gains by using URO (saving on bank fees etc) can be had by using any other crypto out there.
If a NIER really wanted to do business with crypto, all he had to do is say "we accept bitcoin". No banking fees, fairly stable price, instant liquidity even into the millions a shipload would cost.
If NIERS and URO were determined to create their own market, then they had to PROVE that they did ship urea paid in URO using some international auditors for the task. Instead, we had hobopete and others trying to figure out which had who's urea...

Just my 2 cents...

[Wexlike]

I still like the coin even though the trading volume is quite low

[elkrisi]

Well its still same FUD fight as several weeks before, wonder why U ppl still wasting Your time on this..

This is one of the strangest things. The coin seems to be dead, but somebody comes in almost every day to fud. Why would they?

Most people here are not fudders, but critical investors. I'm 100% sure people like Chang and Truthful own Uro.

Exactly HappyHogan...

Investors in crypto are playing with a toy never seen before in human history. That's why we are seeing ideas coming and going like wildfire. I don't consider everything that comes into altcoin world as scam. As an investor, I know I'm on wild west territory and the idea that seems a crazy lunatic scheme of some low life scammer may be, after all, the currency of the millennium.

Unfortunately, to become the currency of the millennium, you need to tackle, understand and conquer hard reality. Which may explain why URO, although honestly trying, has hit on the concrete wall of real life trading.

[dwords]

2. URO was (and perhaps still is) a long shot. An honest effort to MAKE IT HAPPEN.
Like some other contributor here wrote, URO's team are good salesmen. They had an idea and tried to make it into reality. So they made the protocols and perhaps did manage to persuade some real players in the urea market to play it along.

Unfortunately, this idea has a lot of failure points:
Whatever advantages one gains by using URO (saving on bank fees etc) can be had by using any other crypto out there.
If a NIER really wanted to do business with crypto, all he had to do is say "we accept bitcoin". No banking fees, fairly stable price, instant liquidity even into the millions a shipload would cost.
If NIERS and URO were determined to create their own market, then they had to PROVE that they did ship urea paid in URO using some international auditors for the task. Instead, we had hobopete and others trying to figure out which had who's urea...

Just my 2 cents...

Good post, elkrisi. I run a site examining a potential cold fusion fraud (ecatnews.com). In my opinion, uro is unlikely to be a scam and more likely an honest attempt to make something extraordinary happen. While many of the hoped-for benefits of using uro can be had by simply using bitcoin, price-stability is not one of them. By trading urocoin on parity with urea long before fiat equivalence catches up, GES and the other NIERS could indeed make it so - IF they can make the deals and IF they have the resources to stay the course. This is the nature of a risky investment and not the definition of a fraud.

If we wind forward the clock and think of a near future where urocoin is a success, by maintaining a token separate from bitcoin, urocoin is also a stabilizing influence on other cryptocurrencies and a futures instrument for urea. Importers may use the coin to save on bank transfers, delays and fraud but we should not underestimate the benefits of global price-stability and the ability of a company to hold 12,500 coins as a hedge against wild swings in commodity pricing at various times and points on the globe.

While it is an ancillary effect, there is also a good chance that a successful urocoin will be followed by other commodity coins and the overall effect will be to provide a raft of stability to the whole cryptocurrency field even as bitcoin is free to dominate and find new heights.

[wasobot]

Didnt hobopete mention earlier in this thread to truthful that this discussion was over ? as in tired of arguing with the fudders ??

maybe thats why he put over and closed it.

he did mention earlier too that if he found it to be a scam, he would announce it.

[bitwarrior]

There may never be any judgement , the petition may be withdrawn by consent of the creditors involved upon satisfactory terms, or the court may decide that there are sufficient assets to satisfy all creditors and approve a repayment schedule, or simply dismiss the case as frivolous.
Many outcomes.
A start to proceedings means NOTHING.

You don't need a court to file for your own personal bankruptcy.

Another lie. The petition you fill out is asking for legal protection from the court. You have obviously not read or cannot understand the ramifications of my previous posts. This conversation is over.

This one?

[jasemoney]

2. URO was (and perhaps still is) a long shot. An honest effort to MAKE IT HAPPEN.
Like some other contributor here wrote, URO's team are good salesmen. They had an idea and tried to make it into reality. So they made the protocols and perhaps did manage to persuade some real players in the urea market to play it along.

Unfortunately, this idea has a lot of failure points:
Whatever advantages one gains by using URO (saving on bank fees etc) can be had by using any other crypto out there.
If a NIER really wanted to do business with crypto, all he had to do is say "we accept bitcoin". No banking fees, fairly stable price, instant liquidity even into the millions a shipload would cost.
If NIERS and URO were determined to create their own market, then they had to PROVE that they did ship urea paid in URO using some international auditors for the task. Instead, we had hobopete and others trying to figure out which had who's urea...

Just my 2 cents...

Good post, elkrisi. I run a site examining a potential cold fusion fraud (ecatnews.com). In my opinion, uro is unlikely to be a scam and more likely an honest attempt to make something extraordinary happen. While many of the hoped-for benefits of using uro can be had by simply using bitcoin, price-stability is not one of them. By trading urocoin on parity with urea long before fiat equivalence catches up, GES and the other NIERS could indeed make it so - IF they can make the deals and IF they have the resources to stay the course. This is the nature of a risky investment and not the definition of a fraud.

If we wind forward the clock and think of a near future where urocoin is a success, by maintaining a token separate from bitcoin, urocoin is also a stabilizing influence on other cryptocurrencies and a futures instrument for urea. Importers may use the coin to save on bank transfers, delays and fraud but we should not underestimate the benefits of global price-stability and the ability of a company to hold 12,500 coins as a hedge against wild swings in commodity pricing at various times and points on the globe.

While it is an ancillary effect, there is also a good chance that a successful urocoin will be followed by other commodity coins and the overall effect will be to provide a raft of stability to the whole cryptocurrency field even as bitcoin is free to dominate and find new heights.

Great posts.  Obviously the niers could have just said hey we accept bitcoin and transferred right to fiat as many companies do. But by creating a stable token is allowing a futures and hedging market to emerge aside from the volatility of the urea, fiat, or bitcoin

[Cryptourologist]

If a NIER really wanted to do business with crypto, all he had to do is say "we accept bitcoin". No banking fees, fairly stable price, instant liquidity even into the millions a shipload would cost.
If NIERS and URO were determined to create their own market, then they had to PROVE that they did ship urea paid in URO using some international auditors for the task. Instead, we had hobopete and others trying to figure out which had who's urea...

That's the piece most people don't understand. URO (whether scam or not) is not positioned as a form of currency but rather an ownership certificate. It's like a futures contract share, but it's not exactly the same thing. The price of BTC fluctuates like crazy and so does the price of commodities to include urea. Also, urea is perishable, so you can't stock it up for 10 years up front even if you had the money now. However, if there's an accepted certificate that can be redeemed at any time, people could buy those and redeem as needed. URO is a crypto version of a commodity ownership certificate. It looses some of the protections of a CEX (commodity exchange) but it also looses the control that CEX (and the government which pretty much controls any CEX) can exert. It's more like a coupon that doesn't expire. It's a novel idea that can make some old money whales scared shitless.

[Chang Hum]

Please Guys it's just an idiotic badly put together scam by two blokes in a small town in NSW. I know it's hard to imagine from your perspective (inside the group) that an entire group of people can form on the internet that have the combined mental capacity of a monkey suffering from a traumatic brain injury but that is the case and that is you guys. There's no point arguing anything with you twats, but the sooner you wake up and realize you're completely fucking idiotic cunts and you've got absolutely no hope in life until you change that fact the better IMO.

[solid12345]

The fact that we saw Bitcoin rally into the 600s and back to the 400s and in to the 500s in just a matter of a month is why something like Uro would be a boom for the commodity industry. When you consider many deals are done on paper and money and product doesn't change hands for sometimes months at a time afterward, you want something stable to do transactions in and sorry to say it, but Bitcoin is not that.

What good is saving 1-2% in fees using Bitcoin if your profits are wiped out by 10% in a week?

[corather]

Please Guys it's just an idiotic badly put together scam by two blokes in a small town in NSW. I know it's hard to imagine from your perspective (inside the group) that an entire group of people can form on the internet that have the combined mental capacity of a monkey suffering from a traumatic brain injury but that is the case and that is you guys. There's no point arguing anything with you twats, but the sooner you wake up and realize you're completely fucking idiotic cunts and you've got absolutely no hope in life until you change that fact the better IMO.

You must eat a lot of shit to have a mouth that dirty.

[Chang Hum]

Please Guys it's just an idiotic badly put together scam by two blokes in a small town in NSW. I know it's hard to imagine from your perspective (inside the group) that an entire group of people can form on the internet that have the combined mental capacity of a monkey suffering from a traumatic brain injury but that is the case and that is you guys. There's no point arguing anything with you twats, but the sooner you wake up and realize you're completely fucking idiotic cunts and you've got absolutely no hope in life until you change that fact the better IMO.

You must eat a lot of shit to have a mouth that dirty.

I've had to swallow a lot from you fucking morons during the course of following this idiotic crap!

[corather]

Please Guys it's just an idiotic badly put together scam by two blokes in a small town in NSW. I know it's hard to imagine from your perspective (inside the group) that an entire group of people can form on the internet that have the combined mental capacity of a monkey suffering from a traumatic brain injury but that is the case and that is you guys. There's no point arguing anything with you twats, but the sooner you wake up and realize you're completely fucking idiotic cunts and you've got absolutely no hope in life until you change that fact the better IMO.

You must eat a lot of shit to have a mouth that dirty.

I've had to swallow a lot from you fucking morons during the course of following this idiotic crap!

So what you're saying is, you eat your own shit...

[vual]

meanwhile.....

people who brought at 19$ are selling at 2$..........
Where the fuck does all this URO keep coming from thats getting dumped?

[corather]

meanwhile.....

people who brought at 19$ are selling at 2$..........
Where the fuck does all this URO keep coming from thats getting dumped?

You must be new to crypto.

[vual]

meanwhile.....

people who brought at 19$ are selling at 2$..........
Where the fuck does all this URO keep coming from thats getting dumped?

You must be new to crypto.

You seem angry....
Excuse me from not going back and reading threw your tripe but tell me,
Are you for URO or against?? I cant work out from that angry obviously redundant statement....

corather Date Registered:   September 22, 2013, 06:15:19 AM
vual Date Registered:   February 01, 2012, 08:07:29 AM

..............you seem just as confused as me, wow look at those dates, haha i bet DOGE bought you here
wow you sure managed to rack up a fuck load of 1 liners and pointless posts in such a short time, spose the quality of your posts can be seen above.

[corather]

meanwhile.....

people who brought at 19$ are selling at 2$..........
Where the fuck does all this URO keep coming from thats getting dumped?

You must be new to crypto.

You seem angry....
Excuse me from not going back and reading threw your tripe but tell me,
Are you for URO or against?? I cant work out from that angry obviously redundant statement....

corather Date Registered:   September 22, 2013, 06:15:19 AM
vual Date Registered:   February 01, 2012, 08:07:29 AM

..............you seem just as confused as me, wow look at those dates, haha i bet DOGE bought you here
wow you sure managed to rack up a fuck load of 1 liners and pointless posts in such a short time, spose the quality of your posts can be seen above.

What causes you to be so god damned stupid?