Why is UNB price on fire?

[hazenyc]

UNB is up over 5,000% in the past couple days.. any ideas on why?
I have noticed that the mining difficulty seems to be stuck at a low 13.3M.. one would suspect that with the price rising so too would the difficulty---

[Piston Honda]

Because someone is pumping another shitcoin where 2 people hold 90% of the coins

[hazenyc]

Maybe, but supposedly UNB had no pre-mine .. very odd.

[ronald98]

If there's very low volume and a huge rise in price it's a usually a scam.

[barabbas]

If there's very low volume and a huge rise in price it's a usually a scam.

200 BTC volume is not low

And if price remains high and going higher, auctions non their site will take off like a rocket

[jubalix]

I feel often threads like this are part of the pump...I wish their was a sage function here

[hazenyc]

I feel often threads like this are part of the pump...I wish their was a sage function here

i assure you I am only curious.. the only thing I've done is point some hashing power to mine some of this garbage and then sell it.

[nagatlakshmi]

There must be Pumping and SCAM!!! No other reasons.

[drkman]

Maybe, but supposedly UNB had no pre-mine .. very odd.

You don't need a premine when your coin is virtually dead for months.  You can just buy it all for dirt cheap.  
The coin is recently up over 30X over the past several days.  Was a great and fast pump that may end in a bloodbath on Feb 1st. as the coin really offers zero tech, expertise, or value and has been pumped too far by everyone who is waiting to hear about the "new marketer", rolls eyes.  Smart money will have dumped all before then or during it.  The built in annualized 50% inflation rate is a doosy too as those find their way into the market to be dumped.

[Intrepid One]

This is not a POS coin with hyper inflation. This is a POW sha 256 coin built off of Bitcoin

The community has been growing over the last 10 months and people are starting to get behind the coin, It was recently added to Multipool, Coinwarz.

Since then it has been on a rise and now seems to have taken off, there are only 2 million coins in circulation and a growing difficulty which is helping to increase the price

there are approx 400,000 trading on the market which also increases the price

[Neotox]

someone or a group of users pumping this coin, while it has nothing interested in this,possibly they have big part of UNB to them and after pumping they want to attract peoples and when people put their order dump them
if you are planning to invest in this coin then first you should read their ann thread, have a look at their community and market, you will find if it s really worth of it or just a pumping coin

[barabbas]

Maybe, but supposedly UNB had no pre-mine .. very odd.

You don't need a premine when your coin is virtually dead for months.  You can just buy it all for dirt cheap.  
The coin is recently up over 30X over the past several days.  Was a great and fast pump that may end in a bloodbath on Feb 1st. as the coin really offers zero tech, expertise, or value and has been pumped too far by everyone who is waiting to hear about the "new marketer", rolls eyes.  Smart money will have dumped all before then or during it.  The built in annualized 50% inflation rate is a doosy too as those find their way into the market to be dumped.

Aw man, and I was going to suggest it to be added to the SN... I guess no ah? Better to stick with VRC, that's a gold mine indeed.... lolololol.

You do know about the auction site, don't you?

[drkman]

This is not a POS coin with hyper inflation. This is a POW sha 256 coin built off of Bitcoin

Well you got that wrong.  Most all POS coins have 2%-10% inflation.  This one right now has over 50%.

there are only 2 million coins in circulation

and in a years time there will be over 3,150,000 UNB coin which is over 50% inflation, or dilution or emission.  Whatever you care to call it.  Regardless there is small supply now with a fast emission curve and a straight up price spike and common sense screams GTFO because again, there isn't any special tech here, just another Bitcoin clone.  All this adds up to an engineered price spike that can't last.  P.S. Get the dev to tell everyone the total auctionwebsite sales over the past month.  I bet its not much more than 0.

[barabbas]

 P.S. Get the dev to tell everyone the total auctionwebsite sales over the past month.  I bet its not much more than 0.

That is a cheap shot man. How could they sell anything when the price of the coin was so lows that you needed thousands to pay just for shipping items?
Now it is a different reality altogether and you will see the auctions move really fast as the new price stabilizes. Plus a huge majority of people in crypto has never heard of UNB yet. Wait till they do...

I don't know if it will continue going much higher or not, but I do know that if the price stabilizes around 60K, the auction site will get very, very active. Guess what? A digital currency with immediate use case in the real world. Shocking ah?

[hazenyc]

You do know about the auction site, don't you?

Why is this interesting? There are a hundred auction sites and most of them are crap. eBay isn't even an auction anymore with buy it now and things like quibids are complete scams where you have to buy bids.

[hazenyc]

You do know about the auction site, don't you?

Why is this interesting? There are a hundred auction sites and most of them are crap. eBay isn't even an auction anymore with buy it now and things like quibids are complete scams where you have to buy bids.

Ok, having looked at the auction site I can see why this may contribute to the price increase-- although it is sure to fail.

1. The auction site has a very few listings, mostly worthless baseball cards but there are 2 sets of items that may be driving up the price:
a) cars listed at 1500 UNB and b) $1000 gift cards to walmart or bestbuy listed at 525 UNB.

Whoever is selling a car or $1000 gift card for 25% or less of its value is either a scammer or an idiot.
BUT if the price of UNB is bid up so that the discount is very small that may work.

This is sure to fail however. Why would anybody want to sell something for UNB instead of dollars unless they could use those UNB to buy something else- and for now they can't unless they want to sell a car to buy gift cards.

[Winklevoss]

Because someone is pumping another shitcoin where 2 people hold 90% of the coins

This. It's a classic coin pump.

[btcltcdigger]

It's very simple.

DEV (name and location available if required) has been building up this coin for months now.

As you can see on the official site, he has been attending various crypto fairs and meetups, promoting his coin, giving away mugs/shirts, whatnot.
http://www.unbreakablecoin.com/updates/conventions/
http://www.unbreakablecoin.com/updates/2015-conventions/

He finally got some attention from a big group of people related to crypto at one of those conventions, presented few projects, and PR campaign has started.

As for the auction site, i've helped him build and modify it, and i can tell you there's an increase of sales there also. Yes, only a few listings, but enough to bring some attention.

[barabbas]

Because someone is pumping another shitcoin where 2 people hold 90% of the coins

This. It's a classic coin pump.

You probably meant "classy". Just hit a new all time high at 87K

In a class by itself indeed.

[barabbas]

Saying what everyone else is saying.

Classic P and D.

Without the "D", of course. Classic, indeed.