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

[spacerman]

this coin will be huge for one reason
DEV have in their plans UBTC,U DARK etc,

I know that they dont want fail  in first project

The price isn't really up to the devs. It's never up to the devs. The whales determine the price. There's a huge demand for ULTC right now because the whales are promoting it on social media. They're waiting for enough buy support and then they're going to jump ship. On Bittrex right now there is nearly 100 BTC being asked at the .0018 price. That's a sell order just waiting for a hungry whale.

Notice where the price is now, and what I said only 40 minutes ago when it was still around .0025...GET OUT!

[Umbrella Holdings]

this coin will be huge for one reason
DEV have in their plans UBTC,U DARK etc,

I know that they dont want fail  in first project

The price isn't really up to the devs. It's never up to the devs. The whales determine the price. There's a huge demand for ULTC right now because the whales are promoting it on social media. They're waiting for enough buy support and then they're going to jump ship. On Bittrex right now there is nearly 100 BTC being asked at the .0018 price. That's a sell order just waiting for a hungry whale.

Notice where the price is now, and what I said only 40 minutes ago when it was still around .0025...GET OUT!

Dev aside, speaking from a technical perspective the chart indicated a correction was coming.  It was very obvious, are you trying to indicate that you were able to see something the rest of us missed?

[Umbrella Holdings]

New Article!

http://umbr.la/Bitcoinist

[xxxgoodgirls]

New Article!

http://umbr.la/Bitcoinist

Very well written article.

[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

Well Robert Murray, do you plan on addressing these other issues?

[Umbrella Holdings]

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

Well Robert Murray, do you plan on addressing these other issues?

Hello Jesse Livermore,

Let me give these a stab...

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)

The listing is about 3 pages back, only because we were the first ones to register and get verified.  Coinssource was very speedy with the address verification and we got moved from 6/7 to 7/7 stars the same week.



-no ULTC holders have actually been made whole yet (ie proof of concept is still concept)

Not sure what you mean by made whole? Do you mean reimbursed? If so, here is one example: http://umbr.la/inSured

-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)

How do regular insurance companies stop fraud?  They don't, they mitigate risk to the fullest extent.

Risk management is a top priority and so is fraud prevention.  This is where the investigation takes place and there is good log management in place to help paint the picture.  When a breach occurs, the exchange knows and will work with us to supply us the information we need.  This is why we only work with exchanges who we can trust.  We will eventually have a SIEM in place that sends us logs in real time.  In the case of a complete disaster, like the exchange disappearing from the face of the earth this type of system would be invaluable.  The individual opening the claim should have all the supporting documentation like emails, or possible password resets available for us to see. 

We do everything in baby steps.  We are only going to insure a limited amount of customers to start and we are capping the total amount insurable.  Will there be some growing pains along the way?  I imagine so...

-reading back through thread this Dev has somewhat of a history of getting hopes up without follow through (UBTC and other coins launching).

I take full responsibility for Umbrella-BTC not being launched on time.  I jumped the gun on announcing it only because the coding has been completed.  I am a firm believer in extended beta times, especially after what hapend during the ULTC launch.  I want a smooth, bug free launch and I want it to be a success.  If it needs to be delayed a few months so I can relesase it bug free with more features I am going to do that.  I can say that we have a firm commitment from Poloniex for a launch day listing which is a plus.  So again, I apologize but it will be worth the wait.

-'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?

ROUTER RESEARCH INC. - Incorporated in the State of Delaware - File# 5327054

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

We are just getting started and have a long road ahead of us.  There will be ups and downs, price corrections, swings, product delays etc...but we will stay committed.  Also, we are looking for good people to join the team.  Anyone who is interested PM me please.

[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

Well Robert Murray, do you plan on addressing these other issues?

Hello Jesse Livermore,

Let me give these a stab...

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)

The listing is about 3 pages back, only because we were the first ones to register and get verified.  Coinssource was very speedy with the address verification and we got moved from 6/7 to 7/7 stars the same week.



-no ULTC holders have actually been made whole yet (ie proof of concept is still concept)

Not sure what you mean by made whole? Do you mean reimbursed? If so, here is one example: http://umbr.la/inSured

-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)

How do regular insurance companies stop fraud?  They don't, they mitigate risk to the fullest extent.

Risk management is a top priority and so is fraud prevention.  This is where the investigation takes place and there is good log management in place to help paint the picture.  When a breach occurs, the exchange knows and will work with us to supply us the information we need.  This is why we only work with exchanges who we can trust.  We will eventually have a SIEM in place that sends us logs in real time.  In the case of a complete disaster, like the exchange disappearing from the face of the earth this type of system would be invaluable.  The individual opening the claim should have all the supporting documentation like emails, or possible password resets available for us to see. 

We do everything in baby steps.  We are only going to insure a limited amount of customers to start and we are capping the total amount insurable.  Will there be some growing pains along the way?  I imagine so...

-reading back through thread this Dev has somewhat of a history of getting hopes up without follow through (UBTC and other coins launching).

I take full responsibility for Umbrella-BTC not being launched on time.  I jumped the gun on announcing it only because the coding has been completed.  I am a firm believer in extended beta times, especially after what hapend during the ULTC launch.  I want a smooth, bug free launch and I want it to be a success.  If it needs to be delayed a few months so I can relesase it bug free with more features I am going to do that.  I can say that we have a firm commitment from Poloniex for a launch day listing which is a plus.  So again, I apologize but it will be worth the wait.

-'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?

ROUTER RESEARCH INC. - Incorporated in the State of Delaware - File# 5327054

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

We are just getting started and have a long road ahead of us.  There will be ups and downs, price corrections, swings, product delays etc...but we will stay committed.  Also, we are looking for good people to join the team.  Anyone who is interested PM me please.

Robert, you're going to have to post actual links. I perform professional investment due diligence for a major hedge fund and simply saying something exists without actual links or proof isn't going to cut it.

I'm still not finding any results for 'umbrella' on coinssource. I would suggest posting a link if you can find it there.

Also, that link to the 'reimbursement' had nothing to do with him having owned ULTC it seemed. Correct me if I'm wrong but he had BTC stolen, not ULTC, and therefore he wasn't paying any 'premium' per se, you basically donated 1.2 BTC to him to use as a marketing example more than anything, yes? So basically no ULTC holders have been reimbursed for ULTC loses as a result of theft. Hence, this is still a concept that hasn't been put into action.

Also, State of Delaware sites aren't pulling up any results for Router Research or the file number you included. I tried searching just before their 'business hours' ended just now and I'll try again tomorrow though.

Still love the concept and definitely see exchanges starting to use your services as a marketing tool to get traders to go to their exchange.
Very curious to see what 'limited amount' of insurable amounts and accounts will be possible. I mean obviously there's no way you could have survived a MintPal-type event if you insured every DRK-holder or BTC-holder for example, however I can definitely see traders clamoring for your services if you only had a select few trading accounts which were reimbursed.


JL

[xxxgoodgirls]

I'm still not finding any results for 'umbrella' on coinssource. I would suggest posting a link if you can find it there.

http://www.coinssource.com/trust-index/#

page 3 umbrella 7/7

[Umbrella Holdings]

Robert, you're going to have to post actual links. I perform professional investment due diligence for a major hedge fund and simply saying something exists without actual links or proof isn't going to cut it.

I'm still not finding any results for 'umbrella' on coinssource. I would suggest posting a link if you can find it there.

http://www.coinssource.com/trust-index/  Look for the little search bar.  Type in "Umbrella" no quotes and it will find us.

Also, that link to the 'reimbursement' had nothing to do with him having owned ULTC it seemed. Correct me if I'm wrong but he had BTC stolen, not ULTC, and therefore he wasn't paying any 'premium' per se, you basically donated 1.2 BTC to him to use as a marketing example more than anything, yes? So basically no ULTC holders have been reimbursed for ULTC loses as a result of theft. Hence, this is still a concept that hasn't been put into action.

We have had Atomic https://www.atomic-trade.com as one of our insured exchanges.  No claims have been opened thus far.  We just brought on Poloniex https://poloniex.com/ a couple days ago.  No claims have been opened thus far.  With no claims in 2 months of operation, I was a bit anxious to show how Umbrella worked and used the recent loss which I happen to come across one night as an example of what we can provide.  This is all proof of concept, just like Bitcoin.

Also, State of Delaware sites aren't pulling up any results for Router Research or the file number you included. I tried searching just before their 'business hours' ended just now and I'll try again tomorrow though.

https://delecorp.delaware.gov/tin/GINameSearch.jsp  Yes, you are unable to search corporate entities past business hours.

Still love the concept and definitely see exchanges starting to use your services as a marketing tool to get traders to go to their exchange.

This is the idea, shake out the weak exchanges. 

Very curious to see what 'limited amount' of insurable amounts and accounts will be possible. I mean obviously there's no way you could have survived a MintPal-type event if you insured every DRK-holder or BTC-holder for example, however I can definitely see traders clamoring for your services if you only had a select few trading accounts which were reimbursed.

Initial Litecoin insurance is capped at 200LTC which is a couple of BTC.  Not much, but we do plan on scaling, this will happen as marketcap climbs.

Thanks

[TheStarbreaker]

Robert, you're going to have to post actual links. I perform professional investment due diligence for a major hedge fund and simply saying something exists without actual links or proof isn't going to cut it.

I'm still not finding any results for 'umbrella' on coinssource. I would suggest posting a link if you can find it there.

http://www.coinssource.com/trust-index/  Look for the little search bar.  Type in "Umbrella" no quotes and it will find us.

Also, that link to the 'reimbursement' had nothing to do with him having owned ULTC it seemed. Correct me if I'm wrong but he had BTC stolen, not ULTC, and therefore he wasn't paying any 'premium' per se, you basically donated 1.2 BTC to him to use as a marketing example more than anything, yes? So basically no ULTC holders have been reimbursed for ULTC loses as a result of theft. Hence, this is still a concept that hasn't been put into action.

We have had Atomic https://www.atomic-trade.com as one of our insured exchanges.  No claims have been opened thus far.  We just brought on Poloniex https://poloniex.com/ a couple days ago.  No claims have been opened thus far.  With no claims in 2 months of operation, I was a bit anxious to show how Umbrella worked and used the recent loss which I happen to come across one night as an example of what we can provide.  This is all proof of concept, just like Bitcoin.

Also, State of Delaware sites aren't pulling up any results for Router Research or the file number you included. I tried searching just before their 'business hours' ended just now and I'll try again tomorrow though.

https://delecorp.delaware.gov/tin/GINameSearch.jsp  Yes, you are unable to search corporate entities past business hours.

Still love the concept and definitely see exchanges starting to use your services as a marketing tool to get traders to go to their exchange.

This is the idea, shake out the weak exchanges. 

Very curious to see what 'limited amount' of insurable amounts and accounts will be possible. I mean obviously there's no way you could have survived a MintPal-type event if you insured every DRK-holder or BTC-holder for example, however I can definitely see traders clamoring for your services if you only had a select few trading accounts which were reimbursed.

Initial Litecoin insurance is capped at 200LTC which is a couple of BTC.  Not much, but we do plan on scaling, this will happen as marketcap climbs.

Thanks

Nice Answer Dev, this could be a sticker

[xxxgoodgirls]

 Entity Details THIS IS NOT A STATEMENT OF GOOD STANDING
File Number:    5327054    Incorporation Date / Formation Date:    04/30/2013
(mm/dd/yyyy)
Entity Name:    ROUTER RESEARCH INC.
Entity Kind:    CORPORATION    Entity Type:    GENERAL
Residency:    DOMESTIC    State:    DE
         
REGISTERED AGENT INFORMATION
         
Name:    INCORP SERVICES, INC.
Address:    1201 ORANGE ST., STE 600 ONE COMMERCE CENTER
City:    WILMINGTON    County:    NEW CASTLE
State:    DE      Postal Code:    19899
Phone:    (800)246-2677

https://delecorp.delaware.gov/tin/controller

you can find it by typing on the file # field 5327054

[xizmax]

Where would we be without the Glorious Delaware.

If you decide to open up something in Europe look into the Isle of Man or, ofcourse, Ireland.
Similar easy going services there as well

[depboy]

Just a quick post to say that ULTC is one of the merged coins that can be mined on http://myriad.p2pool.geek.nz, with MYR as the the parent coin. 

I'm trying to kickstart a new mining initiative by donating my mining this weekend, starting less than 5 hours from now (midnight tonight, until midnight Sunday, UK time).  Basically the proceeds of my mining will be shared out across the whole pool, which should make for some profitable mining.  Full details can be found at http://www.reddit.com/r/CryptoCurrency/comments/2k51nr.

[TheStarbreaker]

ULTC to the moon! It goes again to 275k or more

[Sons_of_Crypto]

ULTC to the moon! It goes again to 275k or more

ummm, your rocket ship just got back to earth from the moon....next ride, who the hell knows.

[TheStarbreaker]

Its ULTC BuyDAY

[Ivanech]

Just a quick post to say that ULTC is one of the merged coins that can be mined on http://myriad.p2pool.geek.nz, with MYR as the the parent coin.

I check you claim merged mining for a lot of many scrypt coins simultaneously. Including [GRE] Greencoin and SYS [Syscoin]. I guess it is not possible to mine this two coins together while GRE and SYS both have the same Chain ID (=1)?

in main.cpp (lines 2624-2626) it is declared

Code:

int GetOurChainID() {
return 0x0001;
}

I suppose one could mine only one Aux coin with the same Chain ID - either [GRE] or [SYS].

[TheStarbreaker]

Just a quick post to say that ULTC is one of the merged coins that can be mined on http://myriad.p2pool.geek.nz, with MYR as the the parent coin.

I check you claim merged mining for a lot of many scrypt coins simultaneously. Including [GRE] Greencoin and SYS [Syscoin]. I guess it is not possible to mine this two coins together while GRE and SYS both have the same Chain ID (=1)?

in main.cpp (lines 2624-2626) it is declared

Code:

int GetOurChainID() {
return 0x0001;
}

I suppose one could mine only one Aux coin with the same Chain ID - either [GRE] or [SYS].

look at simplemulti, there is that merge possible

[Unpredictable]

We need blockchain & richlist.

[Umbrella Holdings]

We need blockchain & richlist.

Have you visited our website?