Uro is the first cryptocurrency to utilize the blockchain as
Like any new groundbreaking idea, it will be heavily antagonized in its infancy. That is the inescapable causatum. But, to quote Arthur Schopenhauer, German philosopher (1788 – 1860):
“All truth passes through three stages. First, it is ridiculed. Second, it is violently opposed. Third, it is accepted as being self-evident.”
The world (John Q. Public, not just the cryptoworld) will take notice of these developments. Uro will not be the last initiative to utilize the blockchain in this manner, but it is the first.
I am bullish on agriculture, I am bullish on the value of the blockchain, and I am bullish on Uro, a marvelous coupling.
PS: Please read this insightful paper, if you haven’t already. Obligatory.
Can someone please explain how they ever plan on turning a profit?
Let’s pretend that the deal is real and someone just bought 12500 metric tons for about $60 000. That puts them down about $3 000 000.
Until the price of URO/UREA reaches the same price as FIAT/UREA they will be losing money, and if it does reach the same price they still would not be making any money because they are selling UREA.
So do they only plan on making money day trading (which sounds extremely sketchy)? And even if they are, if the price of URO/UREA were to reach the price of FIAT/UREA there would be no reason for people to still hold the coin, which means they will have to buy back any coins that people sell or else they will be still be selling UREA at a loss.
Am I missing something?
Here’s why it makes sense for GES to support URO.
-potential to increase their customer base
In return for these potential benefits, they will take on the risk of selling Urea for uro at an initial loss.
Provided they are confident about the strategies and infrastructures that they have put in place to support uro, this risk can be negligible(even though the market might not know it yet).
As uro gains prominence the price will move closer to parity with urea price. Provided the company doesn’t have immediate need for cashing out uro. They might be willing to wait years for this to happen.
Also note that they are not putting their entire urea trading operation on uro, but only a small portion of it. So the lost they make on this initially can be offset.
Another interesting thing to note is that the price of uro will not always be trading equal to or less than price of urea. It will be moving up and down, especially when bitcoin experiences significant crash, Uro price will start to trade above the price of urea as uro will temporarily take on the role of safe asset within the cryptoecosystem. For a long term player these would provide ideal opportunities to cash out.
Look up the term ‘Loss Leader’
Uro: Backed by Millions of Tons of Urea Fertilizer
but can someone please explain to me these other alt coins, why are they a good form a money… please explain anyone? I can see why Uro would be a good form of money it is backed by a real commodity and perhaps I can see why people would rather a anoncoin and a faster form of money travel.. but btc is plenty fast and anon for me.
A single blockchain can’t handle the global volume of transactions. That’s why in the end there will be a bunch of cryptos for commodities, industries, countries, various purposes. I’m not talking about a bunch of altcoins we have now but about the new ones that will be made by people who play the real game.
The observation that the Bitcoin blockchain may have issues handling transaction volume in the future as popularity increases is very valid. The size of each block has a configurable limit that may not be increasable to the desired amount to handle the real world load of all the side chains and protocols that are now being built on top of the Bitcoin blockchain.
It is known that the current Bitcoin Core release handles 7 tx/s, where as Visa processes 2000 tx/s. From this perspective, there are advantages to Uro being on a separate blockchain to Bitcoin. Uro’s 3 minute block time also allows the Uro blockchain to implicitly handle 200% more transaction volume than the Bitcoin blockchain with its 10 minute block time.
Uro: Long Term Currency Backed by Millions of Tonnes of Urea Fertilizer
Posts: 324Uro: Backed by Millions of Tons of Urea Fertilizer
Q: explain to me, how can he have bought 12500 tons for 12500 Urocoin valued at $3.75million when the current value of the coins are $220k
Actually the value of Uro is floating like any other currency and also like the value of Urea itself. Today its is $20, but next week its more likely to be $200 – much closer to the current value of Urea.
A commodity trading company takes at least 5 years to establish and usually does not profit until years after that. the commodities industry is composed or rational, calm and determined leaders who plan projects 5, 10 and even 15 years ahead and have the funding to fuel this determination, as demonstrated by the single transaction $25 Million USD BCL posted some days ago.
In today’s deal for example: GES now hold 12,500 Uro that are unlikely to be worth any less than 120% or the 2014 value of 12,500 metric tonnes of Urea in 5 years time (adjusting only for ~4% effective inflation – real inflation is higher – as can be measured by aggregated real estate and gold price increase per annum).
Therefore, Uro represents a pioneering investment for GES into the firm’s future prosperity, and elevates GES’s reputation to a new level of unprecedented technological and idealogical leadership in both the finance and commodities sectors worldwide, likely multiplying yearly revenue significantly due to increased in sales from both new and existing clients.
Uro: Long Term Currency Backed by Millions of Tonnes of Urea Fertilizer
Just to add to the conversation, alot of FUD has been thrown around about the look of GES or Urea Trading India’s website, well to show just how silly this is, look up some Urea suppliers on Ali Baba
The number of Urea distributors on this list is just massive, and this is just in India! Now tell me how many of these companies on this list you think even have a website and if they do, how modern and slick do you think they are?
Also if you type in Urea on Linkedin, you will find tons of people swapping email addresses looking for someone to buy Urea off of. Now you tell me URO wouldn’t be useful in these person-to-person deals where people trust one another to do business by email?
I think so many people here are clueless how the non-Western world operates, people in developing countries, they don’t give a damn if you don’t have a Pinterest page, or a twitter site, or 100k friends on a Facebook page, or whatever other frivolous things that 1st worlders love that btctalk teenagers think one needs to prove you are a real company. Most of these companies do their daily business by telephone correspondence, their customers are usually loyal and do repeat business every growing season, trying to say a company is not real because they have no website or it is poorly constructed is pure BS.
In the world of commodity trading, GES is probably on a 1st tier level just to even have a web presence period. I think they are very forward thinking to recognize the future of crypto technology, just like African nations are embracing the mobile money and commerce future before the West, they have the luxury of using the latest technology to solve problems that the West is stuck behind due to decades of infrastructure that is difficult to replace overnight.