Re: [ANN] [ASIC-RESISTANT] UltraCoin (UTC) - Ultrafast 6 second transactions!!
I'm under the impression that it all came from the IPO or he paid himself back out of the IPO. He has said he paid for a consultant, an SEO guy, the initial website, maybe something else, I don't remember, but the IPO was 80 BTC. I think about 30 of those went to ASICs. He details it at some point in this thread.
I think you are correct there. Most of the money came from the IPO.
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I'll end my rant with this -- There are things that could be done with this coin that would help the possibility that it will survive the alt coin fallout. At some point in the life of this coin, others agreed. All I see now is a bunch of blind faith that things are going to be okay.... just because. Or that some publicity at a conference is all that's needed to boost it to the moon. I don't know if it's a Q&A session or just a speech, but if he doesn't compellingly sell this coin in ways he's never been able to do for me (it's fast! isn't enough), it may tank even further.
I've gone through many many coins myself to realize that marketing is the best way to get noticed & not due to its technical merits.
Whichever coin that signs up with big payment processors, major franchise or commercial store support, celebrity etc will win this race.
I don't know if bumface has it in him but it's not like I'm doing much about it so good on him. Hope he pulls something off. haha.
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BTW -- There is no altcoin panel Q&A or discussion on the program for that conference, when is it occurring?
I have no idea. Maybe it's just an unofficial gathering in the afternoon at a cafe.
But that's good enough still. Maybe he might get some tips from other coin devs.
Also might make some new friends, allies and get to know some potential partners.
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with respect to a payment processor - If one actually resulted from this conference, I will publicly renounce my statements I made above. As it stands, I haven't seen anything that says why they might be willing to accept Ultracoin, all I see is they are sponsoring the conference. They don't even take Litecoin as far as I can tell, I'm not sure why they would skip over it and go straight to Ultracoin.
I think there are more places that support DOGE payment than LTC last time I heard.
Also, business deals don't go public before they are made. So why would you see it on their web site?
You expect businesses to publicly tell other businesses about what they are planning?
I can understand you or many others being skeptical. I am also.
I don't know if bumface is capable. But I hope he is. At least he is trying to do it in person & face to face.
That's already doing more than most other coin devs I've seen. Twitter spams and emails can only go so far.
I'm skeptical because lets be realistic, at this point, this coin is not BTC, Doge, or LTC, and BTCx only takes BTC as far as I can tell. Why in the world would they skip over coins that have 10 - 200 times the number of users for their next POS adoption? You're damn right I'd expect to hear something positive out of their mouths about UTC publicly before they ever made a partnership. Honestly, it just doesn't make sense to do it if I am them.
As for UTC, it makes all the sense in the world to court them, however impossible it may seem. I'm not knocking the effort, just the viability of the tactic. I don't like him asking for donations while dangling a carrot that I think is unobtainable. I get responses like I got from the last guy that says how big of a deal this is.
Lots of fantasies could be big deals, but it doesn't mean I have to give them any credence.
I sincerely hope I'm wrong, I'd like to see any crypto be more widely accepted as a payment for good or services, especially one I own, but that doesn't mean I would invest in every crazy idea someone pitched that might get me there.
As for Bumface, I'd expect him to follow up on some of these pie-in-the-sky connections. This is his baby, he should chase all the things more prudent investors should shun. And it's great he has people backing him up doing it. But coming back to my initial concern, he just seems unwilling to do any of it unless someone else is footing the bill. That was the crux of every single post I made today, and that's the position I was arguing from. I just don't like his tact in this situation.