[Ultracoin] [Est. Feb 2014] ~ ASIC Resistant & Ultrafast 6 Second Transactions!

[usukan]

Cryptopia is done !

Go here for any trading.

https://www.altilly.com/market/UTC_BTC



Cheers - usukan

[Jarod1231]

Yikes, how many millions of UTC just got removed from circulation due to this?

[usukan]

Yikes, how many millions of UTC just got removed from circulation due to this?

Interesting question Jarod1231

Usually the Liquidators seize all goods and cash - then have the legal right to sell it off to recoup the losses made by the company.

For instance even if you have paid for some goods in full, or you left your equipment on their premises - the liquidators seize them and sell them off.
Yes - its not a fair situation - but I think thats the way the law goes in NZ.
Of course you can challenge this but expensive and not guaranteed win.
There seems to be levels of stakeholders - crypto holders lowest priority - Tax Dept highest priority.

If the liquidators work out how to access and run wallets - they might have a crypto fire sale - and auction off all the crypto.
The reports say the directors are not cooperating - so the liquidators may not be able to access the wallets?

Given the vague status of crypto assets - the liquidators may choose to repatriate funds to owners (who are stakeholders afterall).
I would not get up too much hope on that though.

Cheers - usukan

[Air Jordan]

Usukan, is there any update about the progress of work on new UTC you have mentioned before?

[Lomingo]

Yikes, how many millions of UTC just got removed from circulation due to this?

Interesting question Jarod1231

Usually the Liquidators seize all goods and cash - then have the legal right to sell it off to recoup the losses made by the company.

For instance even if you have paid for some goods in full, or you left your equipment on their premises - the liquidators seize them and sell them off.
Yes - its not a fair situation - but I think thats the way the law goes in NZ.
Of course you can challenge this but expensive and not guaranteed win.
There seems to be levels of stakeholders - crypto holders lowest priority - Tax Dept highest priority.

If the liquidators work out how to access and run wallets - they might have a crypto fire sale - and auction off all the crypto.
The reports say the directors are not cooperating - so the liquidators may not be able to access the wallets?

Given the vague status of crypto assets - the liquidators may choose to repatriate funds to owners (who are stakeholders afterall).
I would not get up too much hope on that though.

Cheers - usukan

It is so sad! I have 1/3 of my funds on Cryptopia! And a lot of money. "The reports say the directors are not cooperating" I hope so and i hope that the directors a good guys. But i dont think so.

[usukan]

Usukan, is there any update about the progress of work on new UTC you have mentioned before?

Hi Air Jordan - also a very good question that I owe everyone my best answer.

As far as I can ascertain from recent emails from the team behind the new technology:

 - A network using the new technology is basically fully functional.
 - Internal testing should have begun by now.
 - A lot of effort is currently consumed by setting up strategic investors in the core technology and different human/company/foundation networks to support the core technology.
 - Some marketing of the core technology has been started in a very targeted way - and the core tech has been presented at a conference and several dev meetups around the world.


I am assured by a well trusted colleague in the core operational team - that 2019 will be the year.

Don't forget some of my previous advice on moving UTC over to the new tech.
UltraCoin will be the first platform that the new technology is utilised on in a practical sense.

I will advise any further updates just whenever I can.
I am strictly limited by confidentiality - so I cannot say any more for now.

When the time is close to start moving UTC over - everyone here will be the first to know.

Yes - its been a long wait but I am still confident your patience will be well rewarded.


Cheers - usukan

[Air Jordan]

Thanks for the info, sounds really exciting. It's been a long ride with UTC, but I never abandoned it, and never will. It's a shame I lost more than 300K on Cryptopia, but life goes on.

[usukan]

Thanks for the info, sounds really exciting. It's been a long ride with UTC, but I never abandoned it, and never will. It's a shame I lost more than 300K on Cryptopia, but life goes on.

It ain't over till (or until) the fat lady sings is a colloquialism which is often used as a proverb.

It means that one should not presume to know the outcome of an event which is still in progress.

More specifically, the phrase is used when a situation is (or appears to be) nearing its conclusion. It cautions against assuming that the current state of an event is irreversible and clearly determines how or when the event will end.

Cheers - usukan

[BCTUser99]

With Cryptopia being dead I don't see a lot of life left for UTC, but who knows.

I saw this https://twitter.com/halo_scott/status/1128709581415362562 maybe Usukan could look into it.

[Air Jordan]

We survived delisting from BitTrex, no reason not to survive this one.

[snowyNNN]

I had 50K Ultracoins on Cryptopia   

Cryptopia only lost like what 10%  15% of their customers funds???
And they go into liquidation.    WTF
And the hack was wyrd......

Gotta feel bad for those that had significant funds on the exchange.

p.s.   I believe the liquidation process will take years.

[Jarod1231]

I had 50K Ultracoins on Cryptopia   

Cryptopia only lost like what 10%  15% of their customers funds???
And they go into liquidation.    WTF
And the hack was wyrd......

Gotta feel bad for those that had significant funds on the exchange.

p.s.   I believe the liquidation process will take years.

Press release on cryptopia: https://www.grantthornton.co.nz/faqs-cryptopia-liquidation/

... I wouldn't expect to get those coins anytime soon though, I'm on the creditor list from mintpal, which is 5+ years now and I haven't seen a penny of those lost funds... thankfully I withdrew what I had from cryptopia once they reopened BTC withdrawals, so I'm only out the 0.01BTC or so haircut my account took from the hack

[Jarod1231]

What was a problem? Or still not working?

Out of curiosity is there any reason I haven't received any staked UTC since August of 2018? I consolidated all my UTC to one address on that date and haven't gotten a single stake since then

Still nothing, I just split them into piles of 25,000 UTC each like bluesman suggested, we'll see if that works

Can confirm this was the problem, I just received a staking reward 9 days after changing the pile sizes to 25,000 each

[Bluesman75]

What was a problem? Or still not working?

Out of curiosity is there any reason I haven't received any staked UTC since August of 2018? I consolidated all my UTC to one address on that date and haven't gotten a single stake since then

Still nothing, I just split them into piles of 25,000 UTC each like bluesman suggested, we'll see if that works

Can confirm this was the problem, I just received a staking reward 9 days after changing the pile sizes to 25,000 each

Great it helped. 

[Air Jordan]

Any plans to get listed on another exchange?

[Bluesman75]

Why PressTab is offline for ultracoin and it works for other coins?  

http://www.presstab.pw/phpexplorer/index.php

[Air Jordan]

Anyone experiencing Transaction Creation Failed errors? It seems they are related to the amount being sent. Around 8500 is OK.

[Bluesman75]

Anyone experiencing Transaction Creation Failed errors? It seems they are related to the amount being sent. Around 8500 is OK.

That shouldn't been happening, but without a block explorer cannot know what is happening. Sometimes when transactions are not created successfully is because there is a 51% attack on the coin's net and the transaction is doubled, if the attacker has enough transctions  it can split the blockchain and the transactions made during the attack will register to him (To the new blockchain), and you will lose your coins. I don't know if this is happening, but it sounds it could be, but we will never know without a block esplorer, so my recommendation is not to make transactions for now.

Of course, I could be wrong, but cannot know without technical support. 

[Jarod1231]

Anyone experiencing Transaction Creation Failed errors? It seems they are related to the amount being sent. Around 8500 is OK.

Sure this isn't because you have too many piles of coins as your inputs and its over the transaction size limit? Enable coin control and check

[Air Jordan]

Most likely that is the case, as it is the wallet I was using for solo mining. I will check later.