Unobtanium – The Random Coin of the Day

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Unobtanium Coin LogoSo many coins are launching every month, but which coins are actually noteworthy?  Which ones are pump and dump scams?  Which ones should I invest in? These are just some of the questions people ask themselves when they look at the altcoin market for the first time.  I’ve decided to start writing a “Random Coin of the Day” saga of articles to further examine some of the more useful, but less exposed coins on the market.

While there might not be a random coin of the day every day, I will be interviewing developers from different interesting coins on the market in order to allow them to talk about their coin. Some more controversial coins will have dual interviews, one critical of the coin and the other who finds the coin to be legitimate, so that you can see both sides of the coin. (No pun intended.)  In order to keep this fair, each coin interviewee is asked the same questions and allowed to add any additional information they would like to tell us.

Unobtanium is today’s coin of the day and I got an interview with “FallingKnife,” the self-proclaimed “community manager and cheerleader” for Unobtanium.

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Interview with Unobtanium

Market Cap: Market cap has traditionally been around 500-600k, and as high as millions. You’re catching us on a bad day, actually. We’re in a bit of a down turn this week.
Maximum coins to be issued: 250k coins ever.
Hash algorithm: Sha256
PoW and/or PoS: POW, with NO Pos.
Is it able to be mined: Yes
Where it’s traded: Traded at Cryptsy, MintPal, Allcrypt, Coins-e, Comkort, Coinbroker.io.  You can see current prices on several exchanges at unobtanium.uno
Block explorer: The main explorer is at cryptexplorer.com

Find all of our services & info in the OP:  https://bitcointalk.org/index.php?topic=527500.0

What does Unobtanium stand for?

Uno is a really cool experiment, Rick. There’s nothing quite like it.

The Dna and history of Uno stands for fairness and community and limited supply.  UNO was fair-launched by Blazr2 on Bitcoin talk. There is no dispute about the fairness of the launch. There was zero premine. And there is only POW;  there will be no POS to erode your holdings or to cause inflation. The first 1000 blocks were all .001 reward to give more miners time to get aboard for the uno blocks.

Defined within UNO’s code is a fascinating  accelerated cryptocurrency experiment that embraces fairness, limitation and restraint.  There will only ever be 250k Uno produced, ever.
We’re nearing the first anniversary, and there will be about 200k coins produced. The last 50k will take nearly 300 years!! So in its first year it saw 200k coins.  Its second year will only produce about 5k coins!  The block reward halves every 100k blocks. It started at 1 uno, and now is at .065. The next halving is in October.

What problem does Unobtanium solve?

I believe Uno solves the “unlimited coins” and inflation problem that we are seeing. Coins that produce coins on top of coins inflict huge inflation on the holders.  Uno is a fixed, limited quantity issue coin with no inflation, and supply that will dwindle. If 1 is lost, then there is 1 less forever. I think because of its fair start and limited issue and current supply, and zero inflation, Uno is a great option to function as a store of value, similar to rare gold coins or limited issue rare stamps. Because cryptocurrency and Uno are still experimental in nature, we are still mulling and discovering applications and real-world parallels for a coin with Uno’s characteristics.  We’re discovering what it really means to have a limited, fixed quantity of a digital commodity.

If Uno’s characteristics make it a viable digital equivalent of Gold, then the problem it solves is quite obvious, and its actually better than gold. You don’t need to store it, it’s easily and cheaply transportable.

Who are the developers?

Our developers are Blazr2, who was the founder of Uno and Bryce Weiner, a well known cryptodev. Bryce is the lead Dev.  Blazr2 is most active directly with the community. Both code.  Bryce is bringing a lot of new services and innovation to Uno through Blocktech.com.  Uno is one of the coins that Bryce and Blocktech steward. Being part of this group gives us stability and access to innovation.

When was the coin launched?

October 18, 2013 by Blazr2

What are the Unobtanium’s future endeavors and how do they plan on achieving those goals?

Bryce has a lot of plans for Uno.

For those who don’t wish to read the above post dated July 15th, 2014, I’ll summarize what’s in the works.

[…]

Bryce is working now on updating the repo with a post-KGW checkpoint which Unobtanium’s exchanges can use and be 101% assured of a proper chain. A forthcoming client update may also lockout those old non-kgw wallets.

Some Mac updates have been pushed back to Bryce.  He said he’s going to have new Apple Developer signed UNO wallets made for Mac so they will always be guaranteed current and virus free.

[…]

One of the perks of being a currency that is supported by Blocktech Group is that they have a size & scale that will benefit Unobtanium.  Bryce mentioned to me that UNO will eventually be getting SMS wallets and ATMs!  He is already working on those for Razor and will then bring the technology to UNO.  Blocktech also has manufacturing capability, so it’s possible to make something like the hardware cold storage wallets on bitkee.com for Unobtanium.

As a coin that is made to last and be a store of wealth, a laser engraved hardware wallet the size of a credit card would be really cool, no?  There’s already been a lot of interest and talk here recently about metal cold storage of UNO, so I know this idea will resonate with you all.  Although anyone with the skills and credibility can do this and bring their project to the community, it’s also nice to know that Blocktech has this capability and plans to make it available to UNO.

Bryce said that Blocktech is using Razor to test everything as their market cap is large enough for some research and development costs (Actually, I took that comment as a challenge: beat Razor’s market cap!!).  Those finished and developed features can then be brought to UNO and the other coins that Blocktech stewards.  UNO is going to need this functionality to compete and stay relevant in the new market.

[…]

And don’t forget Learminer who built and maintains the Unobtanium website. He’s put a lot of work into it. Last week’s updates include the display of Uno/Doge prices, fixing the network hashrate monitor and adding price/volume for Coinbroker.io, a very active UNO market.

[…]

As you can tell, the Unobtanium developers are working on lots of new features and keeping the community up to date.

I’m not a dev, just sort of the unofficial community manager and cheerleader.  If you look through the OP of our main thread, you’ll see an up to date list of Uno’s services. We’re always trying to make it more fun, interesting, and to keep it relevant.    We’re not trying to be Bitcoin — although you can use Uno in commerce through Coinpayments.net, and commerce can be part of any cryptocoin really — its not that difficult to spend any coin if the infrastructure is in place — I think Uno’s unique characteristics (fair start, no premine, limited issue, no POS, no inflation) set it well apart from the likes of Doge or Bitcoin. Uno embodies the obvious characteristics of those coins while combining them with the aforementioned unique characteristics.

Is doge fair start? Maybe. Is limited?  Not at all.
Is Btc fair start? Yes. Is it limited?  Sort of  fixed at 21m– it’s only 1/2 mined out.  More coins will come to market.
Is Cinni fair start? Debatable. Is it limited?  Pos will erode your holdings.

Uno will be able to leverage the infrastructural innovation from companies like Coinpayments.net and Blocktech that will eventually trickle out to many other altcoins (Atms, wallets, credit cards, etc). But it ALWAYS have its fair start, limited issue and that will I think always define it and make standout from the pre-mine/pos mob.

Is there anything else you’d like to say about your coin?

Cheers, and thank you SO MUCH for your interest in Uno. The biggest challenge we face is getting our message out in a market where a dozen new coins launch daily.

If you’d like to learn more about Unobtanium, you can visit their website which also has links to their Twitter, Facebook, Reddit, BitcoinTalk, and more.  Unobtanium has also helped PandaCoin as well.

Photo used with the permission of Unobtanium.uno

Disclosure: The author of this article is not invested in UNO.

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Rick Mac Gillis entered the world of Cryptocurrencies in late 2013. He is a controversial journalist committed to investigating and exposing the "dirty bits" of the community. With over a decade of experience in LAMP web development with a focus in custom cryptographic security methods and ethical hacking, Rick Mac Gillis understands the need for proper security standards in cryptocurrency.