Unobtanium In-House Exchange

[cragv]

cragv trade #03: WTB 21kg UNO for 3oz Intrinsic Tender XAG 1oz Cast Silver Bar
(At time of posting, swg's ticker reports 1kg UNO = USD$2.40 and 1oz Ag = USD$17.06)

Shipping:
- Australia-wide via Express Post: +3kg UNO (you'd send 24kg total)

Terms:
- I'll send first then when you receive the bullion, you'd credit the agreed amount of UNO to my address.
- I'll leave feedback here and on the bitcointalk.org trading system at conclusion of sale.

I accept: cragv trade #03: WTB 21kg UNO

24 Uno has been sent. Will PM my postal address.

24.001kg/Un received, thanks Mark. Your silver has been packaged and addressed and is ready to ship. Will PM Express Post tracking number when it ships tomorrow; ETA is ~3 days as you're outside the overnight-delivery-guarantee area.

--
Ian, your post is helpful as I must admit I don't fully understand how this all pieces together here (I'm very green where money markets and financial/trading instruments are concerned). Perhaps an update to the first post in this growing thread could be useful to new users; something that gives a lay-friendly introduction to what's happening here and how it's being done (at a high level). It'd certainly be useful to people like me who are attracted to UNO given its decentralised and quality nature as an asset, but who have little-to-no background in markets and trading beyond the odd dabble with fiat! I very much have my Learner plates on, here! Cheers.

[IMZ]

"update to the first post"

Will be done today.

m

[IMZ]

Trade #458 WTB 2 DVC @ 17 Uno per

[FallingKnife]

Trade #458 WTB 2 DVC @ 17 Uno per

I can supply 1 DVC @ 17 Uno.

[sirsmokesalot]

Trade #458 WTB 2 DVC @ 17 Uno per

I can supply 1 DVC @ 17 Uno.

I will supply the second DVC for Trade #458 WTB 2 DVC @ 17 Uno per

[IMZ]

@ FK: send your Uno address. (Rest is underway.)

m

[IMZ]

@ cragv and all: for the opening post here, something like this?

"This thread -- ‘Un-Ex’ – is basically an experiment in trust-networking in a crypto community. Everyone is welcome to become a member and then trade here.

What do we trade?

We trade various cryptos for Uno – significantly, Trusted Traders can sell here large quantities of Uno (or other) coin ‘into’ the core community.

There is also an ‘in-house’ currency, ‘Distributed-Vault Coin.’ It’s unique because it’s traded only here, and a newcomer must satisfy some requirements to be issued with it.

We’re still developing the Verification process. A newcomer makes and initial trade, and thus becomes a listed ‘Trusted Trader.’ We look to see some further posts and trades. A couple more trades will get that TT a second star: one-star, two stars . . . up to five.

Then, if a TT wants to be involved in the DVC experiment, they pledge to hold small quantities of bullion, and post several pictures of them (though there are other ways of Verifying).

At that point, all things being equal, that TT will be ‘issued’ with 1 or 2 DVC. (The ‘payment’ is that you continue to hold the bullion, and that you be prepared to re-Verify is called upon.)

If this all seems Boy Scout and anal, it’s because this community has (a) already achieved far more through these disciplines than most coin-communities, and (b) expect to found a multi-million-dollar enterprise on the basis of this trust-network.

Please ask absolutely any questions you want. Just PM ‘IMZ.’

Welcome."

[IMZ]

Un-Ex 16/12/2014 [Western Australia – a half a day ahead of the U.S.]

Unobtanium 'solid': .0063/.0058

https://www.cryptsy.com/markets/view/133
https://bittrex.com/Market/Index?MarketName=BTC-UNO
https://bleutrade.com/exchange/UNO/BTC
https://coinbroker.io/trade/?symbol=UNO.BTC;

Trusted Traders:

http://indiamikezulu.com.au/454/list-of-trusted-traders/

Swg’s Ticker:

http://bad.ass.ink/uno/ticker.html

[cragv]

That's a good and helpful summary, Mark, thank you. I note it says "We trade various cryptos for Uno". In my first three trades, I've experimented with exchanging various forms of worth:
1st, I sold UNO for BTC.
2nd, I purchased UNO for fiat via online bank transfer.
3rd, I purchased UNO in exchange for precious metal (Ag) of equiv. value.

First question: should I instead be simply trading crypto for crypto in the Un-Ex project or does your summary simply omit this detail? I don't want to upset the apple cart here but I'm quite excited at the idea of a trust network that facilitates trading of all sorts of currencies and assets (please forgive the lingo if its imperfect).

Second question: what are the desired outcomes of the DVC trading experiment? I still don't quite 'get' the method though I'm on-board with the greater undertaking. Could you explain this further (not necessarily in the summary but at least here in the thread)? I'm happy to sound a bit dumb in asking because while I may be the first who doesn't understand, I doubt I'll be the last! Thanks

[IMZ]

@ cragv:

One:

the core of the project is to develop a foundation of trust, which is a primary ingredient in human affairs, but has been overlooked in the crypto realm. From that base, indeed we hope to launch as many projects as we can profitably manage. For example, we had a bit of shocking luck a few months ago. We were ready to launch an Australian 'cryptomall' ('cryptomall.com.au') when Telstra cacked itself, and I spent six weeks off the Net, which put paid to that.

Imagine something like this: a 'mall' to which people come to e-shop. It has a 'Centre Management Office,' which is our alliance. Unobtanium is the core currency, though others will be very much in play. We have a internal exchange of some sort, which provides us access to chosen types and amounts of cryptos taken by merchants. We can trade those currencies; buy and sell products; run a Crypto Academy; and a lot more.

The ideas are indeed huge in scope; but Ian and I have invested a great deal of money and energy into launching and running micro-projects to test big ideas -- for example, Google 'Crypto Town Denmark Western Australia.' Over six months, with a budget of only a thousand bucks, Ian and I took cryptos to an entire town: cafes, the newspaper, main-street businesses, the Shire Council, the Community Resource Centre, the Visitors' Centre, flyers through Australia Post, an exchange and coin-give-away, and sales at local markets. We got our tails whipped -- we knew it was gonna happen! -- but we learned an enormous amount.



Two:

Trading DVC can:

improve Unobtanium’s price-independence
strengthen our community
increase Uno’s on-block-chain volume a little
increase our understanding of the bullion markets and crypto-currency theory
create some lasting value (and by using that value, we can avoid selling Uno to finance some projects – so the existence of DVC is a sort of ‘buy-support’ for Uno)
provide benefits for the TTs involved (10% discount from Anarcoins already)
attract newcomers to Unobtanium

[IMZ]

@ sirsmokes: I will supply the second DVC for Trade #458 WTB 2 DVC @ 17 Uno per Uno sent and DVC received.

[cragv]

Wonderful, thanks Mark. That's such a perfect summary! Greatly appreciated.

Apologies to BitcoinNational: I somehow overlooked your excellent introductory post at the start of this thread which neatly addresses my queries in context!

[IanRidgwell]

Unrelated. Myriad coin interests me but I'd love some feedback other than my own.


My opinion.
No matter how CPU orientated or friendly you make it, its easier to reverse engineer a counter than it is to defend against a counter.

[FallingKnife]

@ FK: send your Uno address. (Rest is underway.)

m

DVC sent.
My Un addy today is ubss6PLQRqRm2KzcTAECnN8XUtkihCvnvK

[BitcoinCharlie]

@ Bitcoin Charlie: 'Mr Transactional' already buys Uno-priced gift cards from an Australian mob -- is that what you meant?

No, I can get numerous e-gift cards of different brands and would trade them to people in exchange for $UNO.

Each cert typically has a number and PIN that can be sent via bitcointalk.

I though it would be a good exercise in trust. The brands are iTunes codes, Land's End, Gap, etc.

Just a thought in our experiment to exchange in other modes of "currency"

Woo hoo! Let's do it. And . . . ummm . . . can DVC holders get (even a tiny) discount?

Mark

I'd be glad to sell at a discount just to do some trades on a novel form of "currency"

[Benefactor]

Here's a joke summarizing my opinion on the future of markets:

Putin, Obama, and Kissinger walk into a bar. Obama says, "Ouch." Just joking. Ok,....

So they all sit down, and get drinks, Putin a hard vodka, Kissinger a manischewitz, and Obama a fruity cosmopolitan.

Then Kissinger says, "Peace is impordant. Everyvon muzt have a schtrong militdari."

Putin and Obama nod, then lean over to their primary camp follower and order more materiale.

Everyone takes a swig, with Obama raising his pinky when he does it.

Finally, Kissinger says, "Ok, let me tell you vhat. Ve are goink to haf hyberinflashun, now. Dat is all." *Slams fist on table.

Obama leans over to Putin and says, "You go first."

(Feel free to copy and share without attribution.) 

[IMZ]

@ Trade #458 Complete

@ cragv: will add those links. You keep adding suggestions.

@ Benefactor: OMG! I'm old enough to remember Kissinger's aggsendt!!

@ Bitcoin Charlie: woo hoo! another discount. Bear with the project, guys. Yeh, the details are a pain in the tookus; but the returns will be splendid.

m

[IMZ]

Here's a 'discussion springboard' for the next Phase:

"Most of us own both ‘vault Uno’ and ‘trading-Uno.’

So, you publish the address of an Uno wallet. You pledge to hold a specified amount of Uno at all times in that wallet.

How many? Let’s say (‘til mid-2015) that an ounce of silver won’t be more than $20. So one DVC is worth $40. Let’s value each Uno at $2. So 20 Uno can back one DVC.

Now add 5 more Uno just for redundancy.

Next, find the TT who is ‘alphabetically one down from you.’ For example, for Bitcoin Charlie, it’s Bitcoin National.

Then send 10 Uno to that TT. It’s a deposit, and that TT remains your supervisor (and can check the wallet’s balance at any time).

[So, you must put 35 Uno ‘out of action’ to be issued with one ‘equity DVC.’]

If an ‘equity wallet’ is ever found to hold less than the pledged amount, you’re busted. The 10 Uno is forfeit to the Blue Crypto Award fund, and you must return the DVC to the bursar (and receive the going rate therefore).

Why bother adding the equity model to the Verified-bullion model?

Firstly, it results (when an equity-backed DVC is bought or sold for Uno on Un-Ex) in volume that simply couldn’t exist otherwise.

Secondly, it allows much of the value of the ‘vault Uno’ to be brought into play on Un-Ex, which will have a range of positive ramifications."

[IMZ]

DVC is a bit over 15 Uno -- the price ticker's price on silver is way wrong --  ?

[IanRidgwell]

In regards to the potential for large purchases using UNO.

Next year I intend to spend 4K - 6K on a motor bike.

This presents a problem for me.

To do this I must save some money BUT I'd rather put my money into UNO which once Bitcoin gets its shit together I expect to appreciate.

Unfortunately as discussed earlier 6K might have a catastrophic smackdown on the UNO 'live value' should I dump on the exchange when I go to buy my Bike and its an almost nill chance my local bike retailer is going to see the light regarding Crypto's between now and then.

Choices#

1) I either don't invest my money in UNO and save it in traditional style with fiat
2)I risk dumping on the exchanges at point of purchase
3)There is a third option.

With a solid and growing community of internal traders a 'kitty/pool' of UNO purchasing power can be rallied to accommodate my purchase (Any purchase) and create a nil impact on UNO overall price.

This has several positive outcomes and the only negatives are the limiting factors of how much can be rallied for any purchase and the time between purchasing power rallies.

a) As someone who understands dumping all that UNO on the exchange will kill the price I am willing to lower my expected price per uno in full knowledge I will still come out on top in comparison to an exchange dump chasing the live price to oblivion.

b) The community gets access to a large amount of under the bar UNO that will have a negligible hit on the live UNO price.
              Of course we expect some of the community will cash in some uno so it is possible we will still get some live price shift we expect it will be negligible. Something we would iron out with details and relying on the internal trust group to be responsible.

c) We expose a merchant to the capability of a strong community supported crypto currency. Surely any serious merchant would be fascinated by the process and maybe even be tickled into the community.