POSTPONE FULL POS
Dear UTC Community Members,About full PoS; We listen to our community!
What we wanted was successful.
Start an open discussion on the forum and see the pros and cons.
Our plan was to look in the background what happened and what was the general opinion.
We want to thank everyone for their input, their ideas and their opinions and want to thank also especially some members of their very professional input about full PoS.
Of course, there were also the frequent and useless trollers that where trying to sell complete garbage, fud, lies and even false accusations.
Members who wanted to impose their views on to others with accusations like we only wanted to produce a pump and dump so we could sell big and many other false accusations.
We will not even mention them all here because we dont want to answer to such low and false accusations.
Just to be clear to everyone in our respected community, we are here for the long term and we believe in UTC 100%. UTC is a coin that will remain and will be a real used currency.So after having read all the opinions and ideas we will consult first some valued members/coin-devs furthermore by pm to see if there is a better way that will benefit UTC in the long-term.
Bottom-line: We listen to our UTC community and postpone until further notice our plan to go full PoS !
Sit tight in the mean time and please work as a community to get UTC going!
Regards ,
UTC Management
Too many dumpers... UTC is crashing.....
0.00001799 4370.25102999 0.07862082
0.00001800 9958.25333400 0.17924856
0.00001976 5175.09291053 0.10225984
0.00001998 15222.21781553 0.30413991
UTC Team react now while it's possible!
Go full POS or reduce the number of coin per block
Please, explain to me *HOW* going full POS is going to somehow take back all of the coins everyone has and put them into a secure vault where no one will sell. There are TONS of coins in circulation, going full POS will do NOTHING to stop dumping. Give me some sort of logical reason as to how this will stop people from selling coins already in their possession. People dump coins when they lose faith in the coin or feel the value is going down. It has NOTHING to do with the amount of coins generated in a given day.
I don't agree with you.
The block reward is still to high (15).
Miners can mine a tremendous lot of UTC per day and then they just dump it because the have no feeling with UTC.
Their motto is: mine as much as possible per day and then dump a.s.a.p.
This is what we see every day. Again and again.
We see it also at the mulitpool. How can the multipool bring the price up if everyday the miners just dump and dump at the lowest prices.
Many before say it all ready here at the forum: Bring the blockreward down from 15 to 5 or even to 2 !!!
Or go the other way and full pos.
There are a couple of large fallacies with your argument.
1) No one is dumping UTC from the multipool. If they are, then they don't know what they are doing because the multipool is dishing out UTC after mining something else, selling it, taking and paying fees along the way, and giving them what ever is left in UTC. The idea behind dumping coins is to make a profit. It would be much more profitable to just never buy the UTC and stop right after they sell whatever the multipool is mining. It makes no sense that they would willing submit themselves to paying the fees to purchase UTC and then immediately turn around and sell it again.
2) How about we lower it to .0005 coins per block? The market will eventually adjust right? Cause it makes people buy more.....
You can't force demand by limiting supply. All you are guaranteed to do when you do this is reduce the number of people mining the coin because the market isn't going to care how many coins are being generated a day. They are going to care about the historic price trend and they are going to need a better reason why coins today are worth more than the 16 million already in circulation.
The price isn't going to change until people decide they want some of those 16 million.
What you are really wanting to do is reduce the sell side pressure as you see it as a problem. But it's only a problem because you don't like the way the price is moving. Liquidity is the lifeblood of any currency and if it isn't moving, it's no better than a digital sticker.