Post
Topic
Board Announcements (Altcoins)
Re: [ANN][URO] A Real Long Term Currency: 1 Uro = 1 Metric Tonne Urea Fertilizer
by
ShiteCoin
on 10/07/2014, 19:20:23 UTC
URO is a nice idea in general, but this coin is a scam ShiteCoin unfortunately. Due dilligence is about collecting a range of fact and the aggregate story should form the view.

Think about the business model. It makes no sense. Commit 50,000 tonnes of Urea at $300 value per tonne. Give it all away to randoms for the love of all things CC. Mint 1,000,000 coins in 6 mths - ie 5% backed at best with 100k minted/yr after. Backing the first 6 mo coins requires 1MM tonnes of Urea and must be given as a donation since presumably all the coins are mined by the non producers.

To fully back 1MM Coins requires $300MM in free Urea that producers will be donating, with 30MM in continued free donations until 2024, for a total commitment of $600MM at todays prices. I am so sorry if you have bought URO.

You are a very silly person if you believe this can be true.

They did spend a few hundred dollar on some nice booth banners though.

Valid registered company: http://abr.business.gov.au/SearchByAbn.aspx?SearchText=17+132+561+132

https://connectonline.asic.gov.au/RegistrySearch/faces/landing/panelSearch.jspx?searchText=+Green+Earth+Systems+Pty+Ltd&searchType=OrgAndBusNm&_adf.ctrl-state=15k4hqcv65_4

but not registered for Goods and Services tax - ie they do not trade in Australia.

Check the other office addresses around the world. Note the .com.au for the international offices - bogus. Note no phone numbers:

http://greenearthsystems.com.au/commodities/branches/

Website address: serviced office

http[Suspicious link removed]cutivecentre.com/location/sydney_australia_square

A fasinating and professional business page about cucumbers:
http://greenearthsystems.com.au/green-soil/cucumber/

Check Green Earth Systems group on Linkedin. One member only:

Nilesh Nair
Director at Impact Investigations and Security Pty Ltd

Nilesh as a grand total of 6 linkedin connections.

About this Group

Created: October 9, 2009
Type: Networking Group
Members: 1
Owner: Nilesh Nair
Website: http://www.greenearthsystems.com.au

Nilesh has a range of profiles on Linkedin:

au.linkedin.com/pub/nilesh-c-nair/60/548/634

Ask him directly:
Advice for Contacting Nilesh
email on sydney@impactinvestigations.com.au

Related person:

https://plus.google.com/+SantoshThrimurthula/posts
https://www.linkedin.com/in/thrimurthula

Just a few points to consider, in addition to the many other comments...


If you look around the room and can't see the sucker, then you are the sucker...