Bitcoin Forum

Within a month our community managed to grow Auroracoin to a market cap of 32Million USD according to http://coinmarketcap.com/
Passing names like "Mastercoin" , "Namecoin" & "Quark"...                 Doge! you are NXT 8)

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You can read more about Auroracoin in http://auroracoin.org/
Here is a copy and paste from the Annoucement page

https://bitcointalk.org/index.php?topic=446062.0
"Auroracoin is a cryptocurrency for Iceland. 21.000.000 coins, block reward 25. It is based on litecoin and is 50% premined. The premined coins will be distributed to the entire population of Iceland, commencing on midnight 25th of March 2014.

Auroracoin is designed to break the shackles of the fiat currency financial system in Iceland.

Iceland has been hit hard by financial meltdown and inflation. Not only did the entire banking system collapse in 2008, but the monetary history of Iceland is one of inflation, devaluation and currency controls.

Auroracoin is an opportunity for Icelanders to free themselves from currency controls and government debasement of the currency.

Auroracoin is based on the Litecoin protocol. However, it is started by the “Airdrop” of premined auroracoins to the Icelandic nation, designed to reach almost every Icelander. This one-time event will create the conditions for Icelanders to start using the currency, by providing them with a start and making them aware of the currency and its possibilities. After the Airdrop, the only way to acquire auroracoins will be through mining and transacting.
"

Other posts of community members
Why Auroracoin may be the most exciting altcoin of 2014
https://bitcointalk.org/index.php?topic=475192.0

AURORA COIN an undervalued coin with great opportunity !
https://bitcointalk.org/index.php?topic=474757.0



Im willing to offer 0.1 AUR to people with more than 20 posts, give their opinion on the coin and who post here their wallet address
(The offer limited:)
Edit : sorry but such kind of giveaways are not allowed in the forum

I'm very interested in seeing what will happen when it gets spread.
Has the dev commented on how the 'drop' will happen?

Interesting coin defenitely.

AYjvwovooLNR5DXokfozpf3mh4YV1ZAYU6

Yes, On Iceland there is a public database of its residents.
AUR is going to use it in order to make sure that only residents of Icelands can claim their birthright coins and to prevent fraud

I sent 0.1AUR to your way :)

Received thanks, yes but how will he give the wallets? In the form of paper wallets, an email,.. ?
And i'm sure there are people who live without internet there how will they get their aurora?

It is going to be  in electronic way not in a paper wallet.
Baldur can give the most accurate answer but its going towards this way : People will download a wallet (computer based, or cellular based) and through our website we will validate their identity and claim.

Iceland population is only 330,000 and they all (about 95%) use the internet. so with the public relations that we are getting and our facebook campaign we try to make sure they all know that they are entitled for the free coins.

Ok thanks, I wish you guys the best of luck!

premined crap

The premine is the all idea! to make a coin the people will actually use rather then few guys control all of it pump it and run away with all its value.

Well thanks for your valuable contribution to the discussion.

For those who have actually got something worthwhile to contribute to this conversation, whilst I have absolutely no connection to this coin whatsoever, I would like to highlight that one of its biggest plus points, as far as the residents of Iceland are concerned, is that it would allow for financial transactions outside the current, restrictive, capital controls.

Properly implemented, this coin could potentially serve as one of the most disruptive financial technologies ever. Whilst Bitcoin et al. are constantly trying to encourage global adoption and use of the technology, an altcoin specifically applicable to a small country with Iceland's financial issues, could be incredibly powerful a demonstration of cryptocurrency's capabilities.

With that in mind, however, I would still be somewhat reluctant to assert only positive an outcome as the predicted result.

That'd be very impressive if it wasn't done by every cryptocurrency when they first hit the exchanges.  ::)

Aurora 7th is it a bug??

Indeed it is not a bug, it's actually worth that much. Based on coins mined and price of coins.

Wow great for you guys! But how can the 24hour volume be so low compared to the total marketcap?!

Why would anyone not from Iceland care about this coin? Hardly a fair distribution for a Global coin.

Because a lot of coins are not tradeable yet... They are mined to be given to the Icelandic population

well 330,000 people is a lot more then 900 who hold 50% of the bitcoins
But its meant to be Icelandic coin not global coin

inb4 marketcap passes $100M. In truth the volume is so low that it's possible to set it as any price as long as there's some kind of demand for it. It'll probably drop to a dollar a coin.

I have to admit that the idea is a little bit intriguing, but I just don't think that any significant number of Icelanders will actually go and collect these coins, nor that they'll be useful once they do. I'm making this assumption because I don't think that Icelanders are very different to Australians, and I know that barely any Australians would go out to get a cryptocurrency they hardly understand and can't use.

So it's a nice gimmick. And I really do hope it works. But I think speculators are going to get burned.

Name does not make sense with being icelandic.

someone start a coin for each and every bankrupt country please  ::)

someone do zimbabwe coin , it could actually take off there big time.

lol Nigerian Coin NIG going for big bucks  ::)

This coin is 7th for the same reason that Ripple is number 2.  A huge premine is being figured in on the market cap.  In the case of Ripple, some 70 billion coins are sitting in Ripple Labs waiting to be given away or dumped which will of course bring down the perceived value.  

In aurora's case, if the premined portion was not magically included in the market cap valuation, then they would be much lower on the chart.

Worldcoin... hahahahah!

4th spot now. This baby might even takeover number two spot.

Again a coin which get first overpumped and nobody can invest in it because its expensive no matter how will it succeed or fail. This schema repeats always by every a bit promising coin. First is pump, realization is irrelevant because no matter how good the coin will do, the price must go only down after being overpumped. So there is no space for real investors which want to go to long-term investment. It will generate only loss or zero profit.

I am not an idiot to buy this coin which will start a big dump. DO you know what will islandians do first? THey will take their sinking auroras and change it immediatelly for bitcoin which is much more secure and accepted all around the world. So the only coin which will profit is bitcoin. And why the aurora will go to bottom when you give it away? Just because you overpumped it and it will be too valuable to hold (if the pump persists a while).

i knew many people are dumb but that dumb ....
you never learn enought lol

This is why we have learned about double facepalms, tripple facepalms... Just because one facepalm doesnt enough  :D

If the average Icelander who is clueless about crypto is handed Auroracoins, you really think they will go exchange it for Bitcoin? If anything they will try to exchange it for cold hard cash if they don't want it.

Auroracoin now at #4 and bested a lot of altcoins on coinmarketcap even Doge. Amazing rise!

1/100th of an Icelandic (Ísländskú) krona is 1 AURar, so yes, in some way it actually makes sense.

Hvernig hvefur thu thad? ;)

rank on coin market cap means little to nothing.



coingen one with  999 999 999 999 minting ,
premine 99%
pay to put in on a couple of exchanges
put some of the premine on there
buy it from yourself for 50cents a piece

number 1 coinmarketcap


Yeah sure you may have to be more subtle that that, but you get the idea.


anything above a 10% premine shouldn't get listed on there really.

this coin should have zero interest for anyone outside of iceland, the only hope is some media attention on it for short term spike.

Even if it does spike, the selling pressure from miners and icelanders will increase and splat it hits the bottom hard.

This is of great interest to me even though I'm not Icelandic.  It's the "perfect" experiment to see whether you can run an economy on crypto.  Small, educated, highly internet aware population that hates temporary currency controls that have been in place for five years.

I just hope they don't mess up the airdrop.

Please tell me this is a joke.

Auroracoin will never go anywhere because it was premined.

The dev is probably dumping the coins he's supposed to give to all the Icelandic people.

Even if he does give some to every person in Iceland... as others have mentioned cryptos are global, hardly anyone outside of Iceland is going to like/use/invest Auroracoin.

The Dev will be wealthier if he distributed the coins per the airdrop. I'm not Icelandic but I think this coin is great because it could potentially push the adoption rate of cryptos in Iceland to above 1%. Free money - who would say no?

Btw, let's remember that Btc possession is 0.02% of global population. Anything that increases crypto awareness is ultimately also good for bitcoin.

Sure.. I can support the initiative, but I'm not going to be investing.

got to congratulate the dev if he's smart enough to just dump the coin rather than give millions of $ away for free.

People are generally resist change and that's not even including how difficult it is to even use crypto for the general public (and it's way way harder than we realize b/c we can do it)  not to mention if the icelandic gov't would allow this (I have no idea if they would or wouldn't but governments generally stop this kind of thing)

This fall is going to hurt, anyone buying in now deserves to lose money.

Haha look at all the butthurt morons who didnt invest before, trying to rationalize why they did not do it and how awesome they are they managed to miss the spike. Hilarious what your egos can do.

I generally support the idea of community currencies and local currencies and have done since long before bitcoin so I will be interested to see how this works. Personally, I would like to see more coins with negative interest rates launched.  It would have been nice if Auroracoin had cloned Freicoin instead of Litecoin.  It could have been a modern day Wörgl experiment.

could you elaborate more please? I havent heard about this (or just send me to google .-) )

Google away, but in short it was a pre war Austrian experiment in local currency.  They had a monthly stamp charge which was payable if you held onto the notes, so people passed them around quickly and they became popular - so popular in fact that other villages and towns started taking an interest.  The central authorities, fearing a loss of power decided to shut it down before it could expand further - so it goes.