FAQIs URO coin a scam?You have to come to your own conclusion here but when do you see scammer show his real identity and fight for his coin with a passion https://www.youtube.com/watch?v=HsHF0C_gPck, and don't forget this coin had no ipo, no premine, just an active competent dev.What is URO coin?Uro is a cryptocurrency which is being backed by GES currently to offer 1 Tonne of Urea for 1 URO, soon other companies will join in the revolution, its essentially like a bondWhy use URO coin when we could use bitcoins?Urea's price is volatile and depends on many factors and so is bitcoin, you can peg two volatile thing against each other, Uro is essentially a future bond, that you would always get 1 tonne of Urea for, its like how the government bank started with gold backing the dollar.Why use not use coloured coin?URO is getting many new features, including a live urea exchange market for urea trading, mobile app, and many more features where having your own coin makes this easier to implementWhy would these companies give you $300 worth of Urea for $6?
The company is not going to sell the URO coin at a loss, they will simply hold it, until the market catches up the price of Urea, which will not take to many btc, and will happen in weeks as soon as news of URO coin spreads.The minimum order is 12,500 tonnes of Urea why?These are large companies that deal with big orders, they probably don't want to deal with small orders, however when this coin becomes more mainstream, I am sure resellers or other companies will allow for smaller orders.What are the advantages to using URO coin?Urea cannot be stored, so you only buy as much as you need and cannot buy and store, URO changes that by allowing farmers to buy URO for the future.Price of Urea can be a speculative market this allows traders to speculate on the pricePlenty of fees can be saved instead of doing bank transfersNo need to trust third party with future orders, any company who agree to the term will always accept 1 Uro for 1 tonne of UreaWhats planned next?Currently the dev is working on bringing us the mobile wallet - picture This is my concern and biggest question regarding the entire coin and project. Not many have the capital to hold onto an asset that "might be worth A LOT more in the future." Right now it's too beneficial for someone to just go buy this coin at $6 dollars and sell it to a naive company for $300 and make incredible bank off of the deal, while the other sits on a large investment. At 12500 being the minimum, if the coin never reaches this price of 1 Tonne of Urea, any company making this deal is taking a monumental risk that very well could bankrupt a company. If you could explain why a company would take that much risk, I am all ears. From that standpoint it just doesn't make sense.
It's like me telling you right now that BTC will be worth $10,000 in the future and that's the value you should give to me RIGHT NOW. No one in their right mind would do that and that's where my skepticism comes in.
its not going to take much btc to URO to urea price 500 btc, the company won't make a loss, because they wont sell at a loss, when the importers are finally aware, they will buy URO coin of exchanges bringing the volume, your point about btc doesn't correspond to URO because bitcoin is backed by nothing, so you can't guess its value, whereas with URO coin you will always get 1 tonne of urea, hence you should be expected to pay that much.
But it still makes no sense. You shouldn't be able to get 1 tonne of urea with 1 URO because the the prices don't equal up! It's a $3 million dollar gamble to each and every company who would agree to this! If someone is really willing to put 500 BTC+ to buy it all the way up, people are just going to dump it back down. As long as it's on an exchange it's just not worth the same amount because the dev said so. If right now it was going to ~$300 dollars a coin it MIGHT make more sense, but for now it would be a monumental gamble for a company to accept it as a payment.
Its only a gamble for the first company, after they deliver URO and probably only the first trade is risky, after that the price will correct up, people can dump the price, but if the community informs all the exporters/importers they will start putting money in to buy up the cheap URO coins, its like saying if you saw people selling gold for half price, and it was true, wouldn't you sell your house to buy that even up to a 10% discount price.
Yes, it's a HUGE gamble for the 1st company! They are essentially giving $3.75 million dollars worth of product for coins which equal $75K today. No one else sees this as a problem? You keep saying, "the price will correct", "it will go up to 1 tonne = 1 URO." No business in their right mind would make a deal like this based on nothing more than basic speculation.
But its not speculation if they deliver on their order, the price is bound to go up, so its not a risk, its certainty
But it's not a certainty at all! As long as you, me, and any guy can trade it on an exchange it's very far from a certainty. It's far, far, far more speculation then certainty. Even you have to see this.
Buy you don't get it when something is backed by a commodity it will always be worth the commodity, if someone starts dumping it for any less its there own stupidness, people will just start buying it up, If started selling 1 kg gold vouchers with actual price of $100,000 for $50,000, and people cashed out to gold, and it worked, what do you think will happen? I assure you those vouchers will be bought up in seconds, furthermore URO is going to bring new services and merchant tools, which is why it might trade over normal price, why do you think all these bank notes backed by gold worked? if the bank started selling a $100 bill for $1, do you not think one guy would just purchase it all, if there is certainty, no dump can crash the market.
