[ANN] Ʉ Umbrella | Insured Cryptocurrencies | Umbrella-LTC | Litecoin Insurance

[HunterS]

why do people undercut everyone on the exchange when you know people will buy at higher price.you muppets just keep under cutting the next guy until coin is worth nothing.are people really that greedy or that impaitent.

LTC miners can now mine uLTC for free.  what are you expecting them to do exactly?

stop under cutting the next guy and people will buy at that price

[HunterS]

The coin has only been out for 4 days.  I think everyone needs to just take a step back and look at the idea behind the coin.  Yes, pools will dump just like every other coin.  This lowers the price but there is some benefit to a more liquid market.  We just need to spread awareness about what the coin can do.  Keep shooting for other exchanges where we can gain some exposure and traction.  Atomic is great, but the overall volume is under 2 BTC per day.  Lets keep pushing forward, this coin can do great things given the right environment.  Once people realize the value of an insured crypto, buyers will come.  I am not worried about it and neither should any of you.

i think its funny that bittrex will add any shitcoin out there yet a coin like this which has been handled quite professionally doesnt even get a look in.all those scam coins getting listed in the first 24 hours of their release.really says alot about bittrex and how greedy they are

[milesbitcoin]

I can see that Umbrella-LTC and the other coins are going to take off once it become widely traded on multiple exchanges. Umbrella-LTC is unlike any other coin currently on the market.

Umbrella-LTC I believe is going to become highly marketable to merchants, given the insured aspect of the currency.  

[Umbrella Holdings]

The coin has only been out for 4 days.  I think everyone needs to just take a step back and look at the idea behind the coin.  Yes, pools will dump just like every other coin.  This lowers the price but there is some benefit to a more liquid market.  We just need to spread awareness about what the coin can do.  Keep shooting for other exchanges where we can gain some exposure and traction.  Atomic is great, but the overall volume is under 2 BTC per day.  Lets keep pushing forward, this coin can do great things given the right environment.  Once people realize the value of an insured crypto, buyers will come.  I am not worried about it and neither should any of you.

i think its funny that bittrex will add any shitcoin out there yet a coin like this which has been handled quite professionally doesnt even get a look in.all those scam coins getting listed in the first 24 hours of their release.really says alot about bittrex and how greedy they are

Agreed.  The problem we are going to face is acceptance.  We want to work with the exchange and bring some transparency to their work.  Some exchanges welcome this, others who are part of a conglomerate will not want this.  This is part of our mission, to expose shady exchanges for what they really are.  This is why we don't accept voting our way onto an exchange.  It feeds the cycle.

The truth is they wouldn't be in business if they didn't have the user base.  As much as people bitch and complain about shitcoins, they really want them. 

Agent Smith said it best " But I believe that as a species, human beings define their reality through misery and suffering."

That prospect of getting in on an early pump, the untold riches...!  We will never rid the system of this type of behavior, the best we can do is spread awareness.

[Umbrella Holdings]

The coin has only been out for 4 days.  I think everyone needs to just take a step back and look at the idea behind the coin.  Yes, pools will dump just like every other coin.  This lowers the price but there is some benefit to a more liquid market.  We just need to spread awareness about what the coin can do.  Keep shooting for other exchanges where we can gain some exposure and traction.  Atomic is great, but the overall volume is under 2 BTC per day.  Lets keep pushing forward, this coin can do great things given the right environment.  Once people realize the value of an insured crypto, buyers will come.  I am not worried about it and neither should any of you.

i think its funny that bittrex will add any shitcoin out there yet a coin like this which has been handled quite professionally doesnt even get a look in.all those scam coins getting listed in the first 24 hours of their release.really says alot about bittrex and how greedy they are

Agreed.  The problem we are going to face is acceptance.  We want to work with the exchange and bring some transparency to their work.  Some exchanges welcome this, others who are part of a conglomerate will not want this.  This is part of our mission, to expose shady exchanges for what they really are.  This is why we don't accept voting our way onto an exchange.  It feeds the cycle.

The truth is they wouldn't be in business if they didn't have the user base.  As much as people bitch and complain about shitcoins, they really want them.  

Agent Smith said it best " But I believe that as a species, human beings define their reality through misery and suffering."

That prospect of getting in on an early pump, the untold riches...!  We will never rid the system of this type of behavior, the best we can do is spread awareness.

Is there a reason why you are spamming other coin's thread's with your announcements?

Hello everyone, just an FYI,

The first Merged Mining Umbrella Coin uLTC has launched! please check it out and spread the word. Put extra coin$ in your wallet 

Merged Mining at http://give-me-coins.com/ and http://www.simpledoge.com/ Exchange: https://www.atomic-trade.com/

Please visit our threads.

https://bitcointalk.org/index.php?topic=707603.0

https://bitcointalk.org/index.php?topic=687265.0

Coming Soon! uBTC

"the first insured crypto"

Not sure, we'll take care of it.

Thanks

[werwohl]

1) Merged mining: Is it really the same like mining Litecoin and Umbrella LTC with full hash rate separately? Why is not everybode merge mining if that's the case?

2) I might consider myself as Crypto-Newbie and have talked a lot with "non-tech" people about Cryptocurrencies. They don't get the revolutionary point and they don't care about the fascinating technology behind. All they ask is, why they should use them instead of credit cards etc. and where they can pay.

I think Umbrella coins could be the bridge to mainstream adoption! Think of PayPal - I really disregard them as seller, but from a buyer's perspective they are great. They offer security - or at least the feeling of security. This makes them successful despite enormous fees for the seller. If you can setup a similiar payment processor which is easy to use, has low fees, fairer dispute resolution and the backup of "umbrella insurance" it may be a huge success. I love the idea of secure exchanges. Also easy usability - I had smartphones long before the iPhone came out and nobody understood my need or fascination for them - think how Apple changed the market after that.

Cryptonerds might not like this kind of "institutional backup", but people generally trust institutions more then technical elegant "trustless" solutions - so yes, go for it - build the bridge for mainstream adoption

[Umbrella Holdings]

1) Merged mining: Is it really the same like mining Litecoin and Umbrella LTC with full hash rate separately? Why is not everybode merge mining if that's the case?

2) I might consider myself as Crypto-Newbie and have talked a lot with "non-tech" people about Cryptocurrencies. They don't get the revolutionary point and they don't care about the fascinating technology behind. All they ask is, why they should use them instead of credit cards etc. and where they can pay.

I think Umbrella coins could be the bridge to mainstream adoption! Think of PayPal - I really disregard them as seller, but from a buyer's perspective they are great. They offer security - or at least the feeling of security. This makes them successful despite enormous fees for the seller. If you can setup a similiar payment processor which is easy to use, has low fees, fairer dispute resolution and the backup of "umbrella insurance" it may be a huge success. I love the idea of secure exchanges. Also easy usability - I had smartphones long before the iPhone came out and nobody understood my need or fascination for them - think how Apple changed the market after that.

Cryptonerds might not like this kind of "institutional backup", but people generally trust institutions more then technical elegant "trustless" solutions - so yes, go for it - build the bridge for mainstream adoption

To keep this thread on track and free from clutter, as I have mentioned earlier I will remove baseless accusations of scams.  If there is evidence to support your claim, then present it for all to see.  If not, it's just FUD.

To respond to werwohl,

Our idea behind adopting the auxialry chain role was to break into the market easily.  Like you said, people who are already mining Litecoin, why wouldn't you also mine some uLTC?  We will see how this pans out.  We see other coins who are merged mining gaining large hash (1 is at roughly 1/4 of Litecoins total hash).  I assume this takes some time.  Again, we are only 5 days old.

I agree with what you say about people trusting a third party institution.  These are the same people who claim centralization is pure evil, but yet they trade and conduct business on centralized exchanges?  What's the logic in that?

If the consensus is that this third-party is deemed untrustworthy, what is everyone's thoughts on bringing that portion back in-house, and creating a foundation to fulfill the duties of claims and investigations?  This would be a good use-case for a foundation with real purpose.  Not marketing or forming one because Bitcoin has one.  This group would do real work that would benefit the community over time.  It can be structured fairly with 5, 7 or 9 members voted-in.  We can setup a multisig wallet that house the insurance funds? 

Would this be more accepted by the community?  How would these members be compensated for their work?  How would we find them? 

These are some questions to think about.  I am open for discussion on any matter or concern as it pertains to these coins.


--Robert

[d2dtk]

I'm going to keep my eyes on this one..Looks very promising if it can get accepted!

[scryptonite]

https://s3-us-west-1.amazonaws.com/umbrellaholdings/6.png

Got the logo, should be getting the link soon.  Once they verify my home address we will have a maximum score of 7/7.

http://www.coinssource.com/trust/

Hey, just finished looking over that site... what a well needed source of creditability, especially with all the crap coins coming out... just look at the last 2 coins that I foolishly mined, USB coin... Dead, and fuse coin, never really got off the ground and is on life support. A loss in electricity for me,,, and God only knows how much was wasted by tons of Rig Renters on both coins. So lesson learned. I will not mine any coins going forward without a coinsource trust rating!

I feel very confident in the umbrella coins dev, knowing that he is who he says he is! Finally some confidence can be applied now.

Anyone yelling scam in here can just take it all somewhere else as far as I'm concerned.  

Question, do you have to have a coin first to get yourself rated? (wasn't real clear on that),,, this is something I would like to have in place for myself!  lol anyways glad to see that our Umbrella dev is the real deal!

Yes, for sure they are real and legit. I have personally spoken to the Dev, he is Awesome!

Yes indeed! not that I really ever had any doubts from the beginning, one only needed to look at the op and the very professionally done website to know this was not a fly by night" But the coinsource rating seals the deal for sure and hopefully for anyone else looking into the Umbrella coin collection, investment or mining

+1

Investment

YEah a separate party can help. I hope just 3rd party is legit too

Regards,
HCM
http://ultc.hardcoreminers.com

Hard Core Miners,
I have noticed you don't host regular LTC on a pool, and I'm sure there is reasons for that. But wouldn't it be worth looking into now hosting LTC and set it up as merged mining pool with uLTC and possibly other coins? In the beginning you had a lot of happy miners and G/H in your uLTC pool, perhaps they would return and throw that hash back your way and keep mining uLTC and pick up the LTC too. You have a good working pool etc. and communicate well, so why not give it some thought. Many in here were there at the start, but we all realized,,, well I did, that the coin was intended to be (logically so) merged with LTC hence uLTC  

THX for any thoughts that way

[Phazor]

I have been merge mining this for the last three days and I think it's a great way to go! It mines at about 4 ULTC to 1 LTC with my current setup and I like the fact that I get to mine two coins at the same time.

[scryptonite]

I have been merge mining this for the last three days and I think it's a great way to go! It mines at about 4 ULTC to 1 LTC with my current setup and I like the fact that I get to mine two coins at the same time.

That's and interesting statistic 4/1 distribution.

I think that is a stat worth measuring. This coin is great, I think when miners understand how simple it is to mine they will realize what a good asset it is to have in their coin portfolio. They can either trade or let it sit as an added insurance feature to their portfolio. Of course right now that would be on Atomic trade as they are the only Umbrella approved Exchange for the insurance aspect.

I have already pointed all my scrypt miners to a merged mining pool and am reaping the benefits of 3 coins on GMC. I see this coin rocketing once it is just a little better understood. It has a dual purpose, unlike the traditional cookie cutter pump and dump coins.

uLTC is here to stay I would say 

I cant wait till we see this on more merged mining pools and in the wallets of many more miners. Will be good for the coin value 

[Umbrella Holdings]

I've gotten a couple questions about Dogecoin moving to merge mining and what does this mean.

What this means to us is that you will soon be able to mine Umbrella-LTC, Dogecoin, and Pesetacoin all while mining Litecoin as the primary coin (participating pools).  As they will be adopting AuxPOW such as we have, their hope is that this will increase hash and better secure the network.

Good luck to them.

[Umbrella Holdings]

Just wanted to give an update.

I am working on improving the thread by reducing the clutter and making the concept easier to understand.  It's not so difficult if broken down properly.  Based on feedback I think we can do a better job.  Also should have a timeline up soon with accomplishments and future goals.

We have 2 pentests scheduled for next week.  This means another exchange is coming with much higher volume than Atomic.  We love Atomic and the team behind it and thank them for supporting us early on.  

I am also actively seeking out new team members to help us on many fronts.  Willing to compensate for those interested in supporting our cause and contributing time to projects we are actively working on.  We are most interested in a developer and social media person.


--Robert

[Umbrella Holdings]

Got fully verified. 7/7 Stars, links should be up shortly on the coinsource page.

[bcm2013]

Quick question [probably a noob question] - I've downloaded the Umbrella-LTC wallet; however, upon bringing it up it notes: No block source available...[ 3 week(s) behind ]...

All of my other cryptocurrency wallets function fine...

I'm on Windows.

[Umbrella Holdings]

Quick question [probably a noob question] - I've downloaded the Umbrella-LTC wallet; however, upon bringing it up it notes: No block source available...[ 3 week(s) behind ]...

All of my other cryptocurrency wallets function fine...

I'm on Windows.

Make sure you download the latest file.

Create a umbrella-ltc.conf file in ~/AppData/Roaming/Umbrella-LTC with the info below.

addnode=104.131.135.126
addnode=162.243.240.231
addnode=128.199.148.246
addnode=104.131.135.122
addnode=104.131.227.173
addnode=128.199.148.245

[casper77]

when we will be happy for other exchanges ?
upd
as for me, uLTC is last slim chance for scrypt-asic owners
that is why we look forward to MINT, POL, CRY... etc
what do you think, comrades ?

[Umbrella Holdings]

when we will be happy for other exchanges ?
upd
as for me, uLTC is last slim chance for scrypt-asic owners
that is why we look forward to MINT, POL, CRY... etc
what do you think, comrades ?

It's hard to give a firm date.  We have a pentest scheduled this week with one exchange.  Hopefully after the completion of that we will get listed.  I will keep everyone updated as details emerge.

[bcm2013]

Quick question [probably a noob question] - I've downloaded the Umbrella-LTC wallet; however, upon bringing it up it notes: No block source available...[ 3 week(s) behind ]...

All of my other cryptocurrency wallets function fine...

I'm on Windows.

Make sure you download the latest file.

Create a umbrella-ltc.conf file in ~/AppData/Roaming/Umbrella-LTC with the info below.

addnode=104.131.135.126
addnode=162.243.240.231
addnode=128.199.148.246
addnode=104.131.135.122
addnode=104.131.227.173
addnode=128.199.148.245

Many thanks for the quick response. Works perfectly!  Now, my several dozen uLTC coins are safely in my wallet after merged mining them.  Good luck with this endeavor.

[MinermanNC]

Congratulations!!!! Listed on Bittrex 

Lets keep rockin with Umbrella coins!!!!!