Unobtanium In-House Exchange

[IMZ]

Tee hee, I don't have a Twitter account. I really am on a minimal model, B.C., 'cause I am half blind -- but I was still able to kill a Tiger snake by the house yesterday. He's goin' in a crawdad trap this evening.

But I shall hit Uno Twitter today.

When you are ready, tell me how many Uno the ten ozs cost you, and I shall send it. And we shall find a senior member to hold the 'abundance of caution' 100 Uno.

M

[BitcoinCharlie]

Tee hee, I don't have a Twitter account. I really am on a minimal model, B.C., 'cause I am half blind -- but I was still able to kill a Tiger snake by the house yesterday. He's goin' in a crawdad trap this evening.

But I shall hit Uno Twitter today.

When you are ready, tell me how many Uno the ten ozs cost you, and I shall send it. And we shall find a senior member to hold the 'abundance of caution' 100 Uno.

M

Glad you got the snake and it didn't get you!

Yes, the 10z of AG came in at 70 UNO (priced just now at $2.70 average price of Cryptsy and Trex).

Do you have my address from before? I think you do.

Should we continue the Hedges here inside UNO-Ex, or start it's own thread? Pluses to staying include visibility, minuses to staying in the thread being I don't want to detract from UNO-Ex's operations

[IMZ]

Seventy sent. I think Un-Ex is the right place for Hedges, for the present. Cryptos will be hangdog for a coupla months, I think; Un-Ex will be quiet with Uno steadily rising; Hedges will keep a flow of coiners through the Exchange.

Do offer your thoughts on strategies pivoting on 'non-zero-sum' consciousness: we are not necessarily in competition with many coins. We can develop ourselves as an unthreatening portfolio constituent -- 'Oh well, I keep 10% in Uno. It's just best for that, you know!'

Thus we might draw in people who are 'based' solidly in other coins, but prepared to, for example, buy silver, in Uno, on Un-Ex.

Gotta develop the national-chapters thing.

m

[BitcoinCharlie]

Seventy sent. I think Un-Ex is the right place for Hedges, for the present. Cryptos will be hangdog for a coupla months, I think; Un-Ex will be quiet with Uno steadily rising; Hedges will keep a flow of coiners through the Exchange.

m

70 UNO Received. I'll get you trust rating on BTCTalk as well.  Following are pictures of the five BC hedges:



Following is a close-up of the front and back:



Sorry for the gigantic images, have no clue how to size them down! 

[Benefactor]

Ooo - the shiny silver porn.   

[IMZ]

Un-Ex  7/10/2014 [Western Australia]

Price: 'solid': .0092/.0088 (tad more on B'x)

https://www.cryptsy.com/markets/view/133
https://bittrex.com/Market/Index?MarketName=BTC-UNO
https://www.mintpal.com/market/UNO/BTC

Trusted Traders:

# Wickedsick, two stars
# Mark (IMZ), two stars
# Edgar, two stars
# Falling Knife, one star
# Bitcoin Charlie, three stars
# Vector iso, one star
# Ian (IMZ), two stars
# Benefactor, two stars
# Layer1gfx, two stars
# Sirsmokesalot, two stars
# Philogus, one star

Physical Bullion Planet Earth:

see above for pictures of the Hedges silver

And here is BeneX

And here is V500's escrow service

[IMZ]

Wa ha ha -- check BeneX, B. Good luck with the bid you have up!

[IMZ]

And Benefactor, you are a senior community member, would you like to hold (without escrow fee?) the 'abundance of caution Uno' for the Hedges Project?

I think we should go live on our birthday -- otherwise those who buy first will face a loss as Uno rises in the next few days.

m

[BitcoinCharlie]

And Benefactor, you are a senior community member, would you like to hold (without escrow fee?) the 'abundance of caution Uno' for the Hedges Project?

I think we should go live on our birthday -- otherwise those who buy first will face a loss as Uno rises in the next few days.

m

That's a great angle to go live on the birthday. It's just the next step in adding value to UNO making it very multi-faceted...

[IMZ]

[and will someone say something encouraging about me getting Unobtanium mentioned in two articles in two languages on ten different Net sites?]

Yes, B.C., it is; but the arithmetic is more important. If we launched today, the very likely rise of Uno's price this week would make a Hedge purchased today worth fewer Unos next week.

m

[Benefactor]

I can accept the UNO Hedges Abundance of Caution 100 UNO fund in tentative terms.  Before sending it, you will need to clearly define the terms, durations, and purpose of it; then, I can formally accept it.

Use this, if I agree to your forthcoming terms, UNO.:  ueKiWsa6J5BFUo1wSf8BjviY2Yurgc49uw

[Benefactor]

Great job getting UNO in the articles!  Can't say that I understand what the articles are saying, even after 'translation', but it's great to have mention of UNO!!!   

[IMZ]

Open Letter to Benefactor:

Bitcoin Charlie and I have been discussing a micro experiment in price-independence: 'Hedges.'

B.C. will hold 10 oz of silver (ten one-ouncers). It is his trusted position in the community that may convince people that the silver really is there (and the owner of a Hedge can 'call out' the 'vault guy,' demanding the delivery of the physical bullion or equivalent).

We intend to launch five only 'Hedges,' each one representing two ounces of silver, to be traded non-cryptographically, on Un-Ex, solely with the trading-pair 'Uno/Hedges.'

B.C. has 70 of my uno as payment. However, it is of paramount importance to me that the project initially be about theory and community-building, not about profit, and be characterised by an 'abundance of caution.' We can, with just a few day's patience, 'unpack' the project solely on the basis of the paid-for bullion being available. However, I ask that a respected community member hold in (cost-free) 'escrow' a further sum of 100 Uno.

Thus, short of B.C. and I and you being kidnapped by aliens, the Project can't incur financial loss. Yes, if we tried, me might manage a squabble or two; but as things go, I think this model is sufficient.

I state publicly here that, in the event of any drama, the silver and the 100 Uno be forfeit to the community.

(Guys, I am so old and ill, I care not about the money. I have a pension; and without IndiaMikeZulu to keep me occupied, I'd be starin' about the walls.)

Please add any conditions or suggestions.

[sirsmokesalot]

Open Letter to Benefactor:

Bitcoin Charlie and I have been discussing a micro experiment in price-independence: 'Hedges.'

B.C. will hold 10 oz of silver (ten one-ouncers). It is his trusted position in the community that may convince people that the silver really is there (and the owner of a Hedge can 'call out' the 'vault guy,' demanding the delivery of the physical bullion or equivalent).

We intend to launch five only 'Hedges,' each one representing two ounces of silver, to be traded non-cryptographically, on Un-Ex, solely with the trading-pair 'Uno/Hedges.'

B.C. has 70 of my uno as payment. However, it is of paramount importance to me that the project initially be about theory and community-building, not about profit, and be characterised by an 'abundance of caution.' We can, with just a few day's patience, 'unpack' the project solely on the basis of the paid-for bullion being available. However, I ask that a respected community member hold in (cost-free) 'escrow' a further sum of 100 Uno.

Thus, short of B.C. and I and you being kidnapped by aliens, the Project can't incur financial loss. Yes, if we tried, me might manage a squabble or two; but as things go, I think this model is sufficient.

I state publicly here that, in the event of any drama, the silver and the 100 Uno be forfeit to the community.

(Guys, I am so old and ill, I care not about the money. I have a pension; and without IndiaMikeZulu to keep me occupied, I'd be starin' about the walls.)

Please add any conditions or suggestions.

First, congrats on retirement! Awesome to be one of the few and proud! Glad you found something exciting, and hopefully profitable for ya! I always think that if i wind up with riches beyond my wildest dreams that after taking care of family, i could do some type of good with it. Give it to people who are smarter than me and making the world turn a bit more efficiently

I am interested in getting in on this if there is an opening. I do not fully understand it. What does the hedge do? What does my two ounces of silver mean? Is the hedging more like a bond type service? I am trying to simplify it down by relating it to something i am already familiar with a little. It is most likely it's own thing. But what is the point of it? I get real caught up on words and what they mean. Even though i don't get it i would like to help out by throwing my Unos down if i can!

[Benefactor]

@ IMZ - Hedge response here:  https://bitcointalk.org/index.php?topic=527500.msg9113396#msg9113396

@ sirsmokesalot, +anyone else interested - Apparently, (Mark please correct if wrong,) the hedges are a derivative, like buying a silver long option, but denominated only in UNO, and without the time limit.  (No time limit for hedge owners, but I want a time limit for my volunteer no-fee insurance-like feature that Mark has proposed, (the 100-UNO "abundance of caution.")

If silver goes up in value faster than UNO, hedge owners would gain value, although they may not necessarily sell the hedge nor demand delivery of the underlying silver physical collateral.  If silver drops in value relative to UNO, the holder shouldn't care, because they'd be so stoked that UNO is outperforming.    (Actually, both silver and UNO could go down in value, and that would be a bummer, but silver can't possibly go down in value any more that it has, since it's been bouncing off of a hard floor, severely manipulated by the evil powers that be.  Mining companies cannot produce silver at current market values, which screams 'manipulation' like few other factoids.)

"Hedging" is a financial term for 'covering all of your bases' in the event your assets don't perform the way you want them to.


@ IMZ - Does this demonstrate an understanding of your hedge project?

[sirsmokesalot]

@ IMZ - Hedge response here:  https://bitcointalk.org/index.php?topic=527500.msg9113396#msg9113396

@ sirsmokesalot, +anyone else interested - Apparently, (Mark please correct if wrong,) the hedges are a derivative, like buying a silver long option, but denominated only in UNO, and without the time limit.  (No time limit for hedge owners, but I want a time limit for my volunteer no-fee insurance-like feature that Mark has proposed, (the 100-UNO "abundance of caution.")

If silver goes up in value faster than UNO, hedge owners would gain value, although they may not necessarily sell the hedge nor demand delivery of the underlying silver physical collateral.  If silver drops in value relative to UNO, the holder shouldn't care, because they'd be so stoked that UNO is outperforming.    (Actually, both silver and UNO could go down in value, and that would be a bummer, but silver can't possibly go down in value any more that it has, since it's been bouncing off of a hard floor, severely manipulated by the evil powers that be.  Mining companies cannot produce silver at current market values, which screams 'manipulation' like few other factoids.)

"Hedging" is a financial term for 'covering all of your bases' in the event your assets don't perform the way you want them to.


@ IMZ - Does this demonstrate an understanding of your hedge project?

Wow, thank you very much! This explains it nicely.

Can't i just do this on my own by buying silver right now? More so in usd which are known to lose value due to inflation. I am confused. Are there normally fees and such involved with this sort of thing? How does anyone make money on anything if people are win-winning? Someone has to be at a loss if someone is winning?

[sirsmokesalot]

Lol @ Korlic, yeah but that is too vague mang. Are we talking a ton here? 500? Maybe someone might wanna sell at volume now, divulge as much as you are comfy with though.

I don't know if we would be able to meet on middle ground at this point, but if you were looking to purchase in some type of large volume someone might be willing to give you a little break on things.

Never hurts to ask! Good luck in your acquisitions!

[Benefactor]

(Total Volume Traded to Date:  180 UNO; 7 Trades)

Offer Code:  BeneB009
I have 5 UNO to sell for 0.0245 BTC.  (Price = 0.0049 UNO/BTC)

* TRADE CANCELLED *

-

Market has stabilized, new orders up:

Bid- 10 @ 0.00835; Ask- 10 @ 0.00865.  Tightest spread in Unobtanium!!  

For details, visit the (link):  BeneX Shop Window.

[Korlic]

Lol @ Korlic, yeah but that is too vague mang. Are we talking a ton here? 500? Maybe someone might wanna sell at volume now, divulge as much as you are comfy with though.

I don't know if we would be able to meet on middle ground at this point, but if you were looking to purchase in some type of large volume someone might be willing to give you a little break on things.

Never hurts to ask! Good luck in your acquisitions!

I'm thinking around 1-200 for right now. Anybody want to cash out before the "bitcoin storm"?

[BitcoinCharlie]

(Total Volume Traded to Date:  180 UNO; 7 Trades)

Offer Code:  BeneB009
I have 5 UNO to sell for 0.0245 BTC.  (Price = 0.0049 UNO/BTC)

* TRADE CANCELLED *

-

Market has stabilized, new orders up:

Bid- 10 @ 0.00835; Ask- 10 @ 0.00865.  Tightest spread in Unobtanium!!  

For details, visit the (link):  BeneX Shop Window.

Benefactor, I will buy 10 at .00865.

I will send to your listed BTC address.

Please send UNO to:

ugoTunoqRbnpUXyMPL8Cf4bFRwAoBREHDU