[ANN] Ʉ Umbrella | Insured Cryptocurrencies | BITTREX | Litecoin Insurance

[TheStarbreaker]

I dont know, but for me looks like pump..some bignames in twitter claims its time to buy, and maybe like all pumps they little by little dumping theirs what they bought in 1000-40000sat levels, some already making 200x profit. I think this situation similiar to saturdays cannabis coin, when everyone was believing in cann will go 10x more, but price droped from 16k to 4k... This can be similiar, now enters small money big and smart money maybe already leaving, who knows... Just be carefull. Its can easy drop to 40k

the other thing that would indicate pump is large buy orders, we dont really have large buy orders here compared to cann where buy orders were totalling 60btc. the concept is good and new. lots more to come

people are trying to buy ULTC since its this price,they know maybe tomorrow 3-4 times more the price.And the dev said there comes again news, to be addred to new pools.That means harder to get umbrella,so it will be more worth.Next LTC is ULTC

Agree, I dont think this is a pump as the buy orders are not big as mentioned. Plus I have been watching it and it is very slowly making its way up. I think ULTC will be a great coin and is without a doubt something very new. Everyone buy buy buy and hold hold hold and strap yourself in to go moon!!

Edit: Also theres a lot of good news coming in the coming weeks so i think people are stacking up because this shits about to go crazy.

ULTC is definitly on his great way

[Gambiman]

Very good concept, I guess people agree given the price rise.. Now, what do you need to think about? buy in all the others (UBTC, UVTC etc... ) They will likely have the same fate.

[obertone]

Anybody want to sell their ULTC. Im buying, message me.

[TheStarbreaker]

nobody will sell ULTC, we know the future of this coin,great success

[Szaja1990]

It's just the beginning...

[madmartyk]

nobody will sell ULTC, we know the future of this coin,great success

Sure you can buy a bunch between 184000-200000 SATs on Bittrex, what you are meaning to say is no one is giving away ULTC...

[TheStarbreaker]

nobody will sell ULTC, we know the future of this coin,great success

Sure you can buy a bunch between 184000-200000 SATs on Bittrex, what you are meaning to say is no one is giving away ULTC...

200000 sat is cheap, now its over 220k at least

[jelin1984]

Poloniex exchange add it now

[Umbrella Holdings]

Poloniex exchange add it now

Might I add they are an insured exchange.  We welcome them.

[TheStarbreaker]

Today in Cryptsy chat the People wanted ULTC to be added too,and recommends it to cryptsy

[svojoe]

So.... Excuse me for being cynical but....

Its a 2% premine coin,  with a "running tax" on mining being given to a X/Third party under the assumption that if a Exchange gets hacked and your Umbrella funds are 'stolen' you will get reimbursed for your Umbrella funds by the X/Third party...?

So
2% premine
% of all coins mined to "CDIC?"
In case of loss, and if you can prove the loss sufficient to meet scrutiny,  CDIC Refunds you?

Uh....

How about I keep my damn coins at home, and not worry about any of this crap?    Then again I guess miners need something new all the time...

[Umbrella Holdings]

So.... Excuse me for being cynical but....

Its a 2% premine coin,  with a "running tax" on mining being given to a X/Third party under the assumption that if a Exchange gets hacked and your Umbrella funds are 'stolen' you will get reimbursed for your Umbrella funds by the X/Third party...?

So
2% premine
% of all coins mined to "CDIC?"
In case of loss, and if you can prove the loss sufficient to meet scrutiny,  CDIC Refunds you?

Uh....

How about I keep my damn coins at home, and not worry about any of this crap?    Then again I guess miners need something new all the time...

As mentioned some time ago, we will be bringing the insurance portion back in house.  The CDIC will be out of the picture very soon.  We feel with a board and a dedicated team, we can accomplish the same thing minus the trust/identity issues.  Board members will be vested individuals, so basically anyone will be able to have a voice in the community.  I am also considering making voting board members Coinssource verified.  I went through this process and received 7/7 stars, I think it adds a lot of value.

As discussed earlier in the thread, the premine was 2% minus .5% for the CDIC.  With 1.5% remaining I paid out over 60K in various bounties to help with distribution.  There was also a bug in the split reward where I had to use a large portion of the premine to reimburse the insurance fund.  I have a few thousand coins left, nothing major.  I paid bounties that were very generous which is fine in my book. People who hustle and work hard deserve to be rewarded.  If this coin launched without a premine it would have died months ago.

In the case of a loss, protection of our assets would be a top priority.  If the loss is genuine and you were on Poloniex, you followed the procedure to tag your claim and all the numbers and dates match then you would be reimbursed.  We make a best effort to gather as much information as we possibly can by requesting logs and/or aiding in the investigation, that's just good business.  

We have reduced our risk to an acceptable level and we are capping the amount of insurance you can buy during the beta run, full insurance details will be released soon.  


Keeping your coins under the mattress may work well for you, I believe this was the preferred method of storing money before insured banks came along...

[Umbrella Holdings]

Today in Cryptsy chat the People wanted ULTC to be added too,and recommends it to cryptsy

Thank you, I will reach out to them again!

[nade70]

ULTC really is blowing up. It has a great concept behind it and exchanges can see the demand. So no surprise that Poloniex have added it. I expect to see it on Cryptsy soon too. Why would any exchange want to miss out on a piece of the trade going on around this coin?

[blg42598]

LOVE the concept! And we just got added to Poloniex!!!

[microchoveur]

Yeah yeah, it did the same on CANN coin, a money backed by real cannabis sold in stores.
I don't really know what is your money and I don't really care of what is going to happen to her, but remember something "buy on rumors, sell on news"
It did EXACTLY THE SAME to CANN two days ago, price going up like crazy and then, THE DAY of the event and all the news that went with it, monstruous dump

Don't hype it too much, really.

[YoyodyneSystems]

Market cap is really low on this coin.
It's nice to see a new face at the top of Bittrex volume ranks. #2 right now with 118 BTC volume in 24 hours.

So far one large rise over the last 36 hours and now on a table with clear heavy buy support formed around 160k satoshi.
Should be good for at least 300k satoshi to 400k in the next 24 hours or so. It's peaked around 240k so far.

Then we can see from there what happens next.


edit.. - table has lasted about 12 hours and buy support is now moving up to 180k sat
I smell another big move up.

[Jesse Livermore]

Intriguing chart and concept.

Issues:
-Can't find the coin on coin source site and on OP it says physical letter from them to you is pending (that was 3 months ago)
-no ULTC holders have actually been made whole yet (ie proof of concept is still concept)
-no clarity on who exactly this Dev is
-no clarity on how exactly this concept will NOT get taken advantage of by fraudsters (ie if my Bittrex is hacked and all my ULTC stolen how exactly do I prove that someone stole it versus me just transferring it to another address and claiming I was victim of theft)
-reading back through thread this Dev has somewhat of a history of getting hopes up without follow through (UBTC and other coins launching).
-'Router Research, Inc' from Umbrella's home page doesn't seem to exist according to State of California Secretary of State company search site, perhaps it's under a different name?


Potential:
-could legitimately be a game changer because we know there is a need in crypto land for some type of 'insurance' in case of hack or exchange 'goxing'.
-at only $250k market cap this is a good, solid, cheap speculative bet.
-chart showing accumulation phase is well under way, no consistent red flag dumping at all and all available coins keep disappearing in between pumps, hugely bullish.
-a UDRK asset could be huge. MintPal's theft was quite possibly most devastating to DRK out of all the alt cryptos, and has left many of us scrambling for an alternative exchange. UDRK could a chunk of those was wanting a safety net now.

All-in-all, ULTC is getting more and more attention by leading the BTC volume on Bittrex each day and so far Dev hasn't abandoned ship yet with the rise in price so it's worth a small gamble for traders.
JL

[1echo]

ULTC and EXCL are my 2 best coins

[dleader]

the flag forms, take your profits for now. these assholes (whom ever it is this time...) will dump so hard once the order book is thick enough. be cautious! Crypto's never pump and remain high. not FUD just sound advice.