Bitcoin Forum

I looked around, and for some reason no one is talking about this..

I was looking up Auroracoin, and now I know why it's marketcap is insanely inflated: There are only 98476 coins in circulation, but coinmarketcap is also including all 10,500,000 (50%) of the premine coins for a total of 10,598,476 coins.

The true value of the Auroracoin marketcap is currently $2,552,498. When the airdrop happens, expect the price to eventually plummet to less than 1% of it's current value when the airdrop is finally complete. If I were an Icelander, I'd grab my free ~$900 USD and dump it right away, the price is only going to drop as the supply inflates by %10,000 in less than a year's time.

Additionally, people don't seem to realize that currently one entity controls 50% of the total Auroracoin supply (10,500,000) while there are only ~100k coins being traded by everyone else. So when the price "jumps" 60-70%, that's actually not uncommon for low valued coins; however, because the pre-mine number is included, this jump looks magnitudes larger than it really is.

People usually scream bloody murder to premine (even as *low* as 10%!), but some guy comes along and says "give me 50% premine, I promise to distribute it, trust me" and suddenly everyone is convinced.

Shhh, quiet now. No facts please on this forum. Brain hurts. Much math :P

I kid. I kid.

+1

It looks even worse when you think that 99% of all currently minted coins are pre-mined.

98,476 is the total that have been mined since launch.

10,598,476 AUR is the total including pre-mine AND mined coins.

10,500,000 is the pre-mine. (99% of total existing coins is pre-mine at this time.)

That's 10,500,000 x $25.75 = $270,375,000 at it's current rate. I don't see this ending well.

 :D
I don't usually make these kinds of posts, but what I outlined above immediately threw up big red flags for me (as it should for everyone else).


Yikes, that does sound much worse, one person owns 99% of the current supply! Whether or not he actually distributes $270mil worth of coins to Icelanders, the fact is that for every $25 you pay for a single coin, $24.75 is going directly into an Icelander's pocket!

That's weird you read my mind at the same exact time I post this using same words :P
https://bitcointalk.org/index.php?topic=446062.msg5475545#msg5475545

But ya - it's wild.

I was saying someone needs to setup a script that immediately notifies everyone if the pre-mine moves.
Or actually the dev should set that up and post it.

It would take some time to move and coins and I bet someone out there already probably is watching
with a script of some kind. So there would be some warning. Would take hours to get coins on cryptsy :P
at least. But the other exchanges would go pretty fast. I noticed savvy buyer are not usually leaving large
buys wall up. Just in case. But if that pre-mine fell it would be a permanuke to the coin. But they would only
get what is on the buy orders for an hour at best.

I do have a this weird feeling though that it's legit. But you can never be sure. Such is the game here.
I want it to work for the sake of innovation. That's me at least. But I am not holding the coin - i just go in
and out a few times. heh...

It's a scam.  The developers create a coin without the governments consent.  Do a press release stating you will give "some" of the coins to the citizens (only the ones with internet with no explanation of how or why).  Traders pump it and developers dump the 50% premine.

But you know what is official - Maza.

Mhmmm.

Think about it. Indian Casinos? American Indian Crypto? It's fantastic.
And apporved by the tribe. One of the largest in the US.

+1

Someone is finally using common sense :)  The "real" low market cap indicates that it's being pumped by a select few traders that have $$$ to pump it which is the reason why it's price is so over inflated.  I'm also pretty sure that the developers are slowly dumping their share of the pre mine making tons of BTC a day.
What we have here is a game of Russian Roulette between the developers, traders and the innocent naive crypto currency enthusiast foolish enough to hold some of these coins.  There's also a very good chance that the traders pumping it up are also the developers themselves doing it for the sole purpose of setting up a very high artificial price.  Ask yourself this.. is there anything unique about this coin (feature wise) that justifies its current high price?  Absolutely not.

And yes, to your point about most miners/crypto enthusiasts screaming murder with even a 1% pre mine, does it make sense that all of sudden, the coin experiences a sudden surge in price and supposedly has wide spread support?  All this points to a manipulation/scam in progress.

If this really was also going to be distributed to the the people of Iceland, it would make national headlines there, be all over their media, official announcements by the government, nationalist groups etc... .  As a matter of fact, exchanging digital currency in Iceland is BANNED. This is a straight up scam.  This reminds me of the people that wanted to gamble and buy some Gox BTC when every single indicator was pointing to the insolvency of MT Gox.  

Of course its a scam. But I rode the wave and bought in at $4 and cashed out at $30... lol. Too bad this coin will plummet very soon.

The first time I read the Auroracoin thread one thing bugged me "...airdropped to the Icelandic People..."

That the central bank of Iceland has banned bitcoin trading is not going to kill bitcoin, but even if the auroracoin developers have the best of intentions, they will certainly run into opposition from the Icelandic govt
http://www.reddit.com/r/Bitcoin/comments/1t8zf3/bitcoin_trading_illegal_in_iceland_according_to/

I was pissed to have missed getting in on aur from the start, now I'm glad I never mined it at all

Psst... klondike has the same number of total coins as aurora with no premine, already has payment processors, just had a massive block reduction, and is currently valued at one thousandth that of aurora.

It pains me that I missed the wave. I've been trying to buy Aurora coins for three days (when they were less than half of their current $36.29) and I fear by the time coinbase verifies my account it will be far too late.

You guys are all just jealous you didn't get some when it was cheap.  If the Dev wanted to steal the coins, don't you think he would have by now?  If he steals the coins how is he gonna sell them when right now there is not enough liquidity to cash out.

All I see in this thread are a bunch of butt hurt whiny bitches.  I'm sure most of you saw Auroracoin a few weeks ago and now are just kickin' yourself for not getting in earlier.

So, lets just let the coin succeed or fail on its own merits.  If it does succeed it will be a huge plus for cryptos in general.

The purpose of SCAMCOINS is pump and dump (e.g. Wolongs Panda coin). I highly doubt that is the case here

I think it will succeed.  I don't think it will keep a higher marketcap than litecoin, but I think it will do well and the airdrop will work.  I was in with aurora from the beginning, but I went to bed the night before it blew up with a giant buy order that never got filled, and now I'm spectating the meteoric rise instead of participating.  Ultimately I'm in this for the profit though so its time for me to find the next big thing.

I saw in a thread title or some such place that the coin was going to be issued later in March so when it showed up on a list of market caps I was wondering how the heck it was purported to be worth anything at all being as how it was not yet even issued...

(Basically I wondered if the people have not gotten their coins yet how are they managing to sell them so soon... So it seemed pretty obvious it has to be some kind of a scam. People selling futures in them or selling coins they have yet to even be issued, suspicious...)

Looks like my first impression was probably correct...

-MarkM-

where do you go if you want to short AuroraCoin?

Whether this turns out to be a massive scam or an epic failure, I'm sure that it will be very fun to watch from the sidelines. :)

Wake up, man. This is just a scamcoin!

all these butthurts make my day! So much whining how it is a scam, bet you wanted to buy when aur was 0.002 and oh shit now is what 30x more? Please tell us how much scam it is.
Panda was dumped after its price went 600% - who would not wanted to make 6x times their investment? Aur is 3000% percent now, so what is this dev waiting for? 5000% ? 10 000%? Please enlighten me when the scam is going to take off, because I never saw a dump coin waiting for thousands of percents.

Whiny little barbies.

In fact you should all buy now: Lets make it interesting

as of 9:31 gmt +1 the price is 0.06BTC/aur

in a week the price will double ,-)

Lol...where is the evidence it is a scamcoin?  The dev had an extremely brilliant idea.  Success of the coin depends on the uptake of the coin.  If the dev wanted to steal the coins reserved for the icelandic folk, he would have by now.

I think this blew up much more and much quicker than the dev had initially anticipated. The final outcome is yet to be determined, but this definitely IMHO was not intended to be a scamcoin.

It helps to actually have a differentiated distribution method from the majority of BS altcoins

wrong

I got a feeling this is going to be the greatest pump and dump so far, just wait until the 50 % premine hits the exchanges, a lot of people are going to loose an awful lot of money on this one.

and the 50 % pre mine is actually 50 % of all coins that are ever going to be mined so that probably more like 99 % of all coins in existence now.

This coin is really going to make all the other pump and dumps so far look like small potatoes, It just deviously brilliant, even Max keiser can suck on this one.

but hey you guys ought to know by now that speculating on alt coins is high risk, so I'm not going to feel bad for anyone.

Marketcap is currently higher then litecoin  ::)

ridiculousness   ;D

Are you intentionally ignoring the facts - or perhaps, trying to convince others to pump the coin for you? Please quote the 1st post and tell me why the points I outlined do not throw up red flags. If you make good points (ie. it actually does something Bitcoin can't) I may in fact go buy some right now. But all I see is the potential for a truly massive price crash when the airdrop commences.

+1000. The OP and followers have no clue as to what's going on here and the historical implications of this project.

The idea is brilliant.

I am half Icelandic and have lived in Iceland for years at a time. I may or may not be entitled to a quota and haven't bought any, but whatever I don't care because the idea is immensely powerful and certainly justifies the current marketcap.

What people don't realise is 3 things:

[1] - the cryptocurrency concept is an idea who's time has come and will be recognised as such by Icelanders. If there's one phrase they know the meaning of it's "Central Bank Devaluation".

[2] - Iceland is the one country in the world where an idea like this has a practical chance of taking hold. That's because of the unique documentation of their genealogical heritage and it's public nature. A database that is usually only available to closed off sectors of government is in the public domain (at least if you're an Icelander) and thus makes full and equal distribution a practical possibility

[3] - as a game of chess, the creators of Auroracoin have out-smarted the Central Bank of Iceland because the bank's exchange control policies will unwittingly force the coin into circulation by making it difficult to cash out into dollars.

On the other hand, if people cash out into Krona, the coin will stay in Icelandic hands.

Make no mistake, this is going to have some impact - I don't know to what extent, but it will be a major "dent" in the fiat mirage, the fact that a popular currency can be created from nothing and have a tradeable value.

Auroracoin is above Litecoin on http://coinmarketcap.com. Right now it looks like Litecoin hoarders spread FUD, coz another coin challenged their precious. More facts plz, words that Iceland govt doesn't support Auroracoin is not enough.

A wise man once said In the end there's always someone holding the bag.

Either the developer or the Icelandic people will dump this coin. Most people in the World consider cryptocoins a bubble or scam (look at the comments section under any Bitcoin article). Under this logic why would they hold? I understand cryptocoins and I would still dump it.

1. Right, they know a thing or two about devaluation - what do you think will happen to the 100k coins when 10.5mil coins suddenly become added into circulation?
2. Okay, that is an advantage. But why can't Bitcoin do the same thing for Icelanders? (Besides being illegal to exchange fiat for it? What if Iceland bans Auroracoin?)
3. This is great for Icelanders, but why in the world would anyone else want to put money in? If I understand your point correctly, Icelanders will have no choice but to either A) use the coin (which would require rapid merchant adoption) or B) they dump it for Krona, effectively making all those putting money into the coin now willing donors to the Iceland economy. I'll give the creator that much credit, it's a brilliant idea to pump money from all over the world into the hands of Icelanders.

But as for having "no idea" (and what followers?), I was merely talking about the economics. The fact is that the dev currently holds 99% of the currency, and only 1% is actually representative of the true price. Price is a buy/sell indicator for most people, I'm just concerned for the people who will lose a ton of money when an additional 10.5mil coins suddenly drop into circulation.

Btw, why does everyone keep bringing up different points instead of responding to my original post? I feel like that's a pretty big deal.

+1 spot on

More likely dump it for BTC. Maybe Krona after that. Either way they'll dump it.

I don't know.


I would have thought that would be obvious - because they'd have to buy Bitcoin but they're going to get Aurora for free. Adoption is worth big money in the cryptocurrency world and no-one has so far come up with such a strategic and well targeted adoption method for any coin. Icelanders are going to benefit financially from facilitating such a widespread adoption IF there's a good takeup. However, that becomes less of an IF everyday that the valuation increases and a virtuous cycle ensues between adoption propensity and coin value.


Why does anyone put money into any foreign currency ? Forex markets are huge because you're basically buying into a country's economy without having to live there. Apart from anything else it's going to garner some major publicity if things continue on this path - the kind of publicity that not even Bitcoin has been able to get it's hands on apart from to cite one coin-loss disaster after another.


No. Those are not the only choices. Remember that most money is neither spent nor converted but simply sits in bank accounts or stocks as a store of value. Auroracoin has a fixed supply and is equally distributed to the entire population. That gives it a massive advantage over ISK which has an unlimited supply and is de-valued on a regular basis. So Auroracoin gives people a new option to store their ISK.

When all is said and done, it may well get "dumped" but the significant thing here - and this is something that applies to all crypto's - it will never disappear. Cryptocurrencies are unlevered base money, unlike bank credit money. So this experiment is going to be interesting whatever the outcome of the exchange rate.

***************************** EDIT: *****************************

While I've been writing this, Auroracoin has increased in value to over $40 per coin. That makes the airdrop worth over $1000 per Icelander. What do you think the Government and central bank are going to do about this ? The value of the airdrop is now valued at 15%-20% of Icelandic government annual tax revenue.

This is MAJOR stuff which they can't ignore. On the other hand if they ban it (using a totally un-enforceable ban) they risk making themselves as unpopular as the worst of the bank-crash cartel and another popular uprising. The emperor's clothes are coming under 1000 spotlights just round the corner.

Looks like Aurora is going to pop :D

And what's to stop all these Icelanders exchanging their nascent AUR for the more advanced BTC as soon as they get it for free. BTC is accepted more places after all. People won't have an allegiance to something they didn't build or demand.

If I were given AUR for free it would be, "Thank you. Now to exchange it for BTC before it crashes." Hence crashing it.

It's free money for Icelanders either way. The bag holders will be the people who buy in now before the crash and the Icelanders who don't know how to exchange AUR.

Hint: I mentioned it in my first post. I really don't understand why you keep shrugging off this very critical point. The Fed prints money at an rate of 1-2% per year, and people are already complaining about that. (And I'm sure Icelanders understand inflation) Imagine if they printed 100x the total money supply of USD in one year. Yes, that is the kind of devaluation we're looking at.


A noble goal, it's hard to beat free. But if it's given out for free, Icelanders will have no investment in it. To Icelanders, it'll basically be a one time gift. If it crashes to 0, they will have lost nothing, thus they won't have an incentive to try to build it's value.


A major difference is that when you put money into forex, your investment isn't instantly being given away for free and diluted by 99% (you don't invest in markets you think are going to go down, obviously). Right now, the supply is artificially low because of the 50% premine (technically, 99% premine, if you want to use the current supply).


I agree it's an interesting experiment, but IMO, the lead dev should have released the coin shortly before the airdrop because it's experimenting with people's real money. Right now, there are tons of people poised to lose a ton of money.

Btw, your last few points don't apply to Auroracoin uniquely, they can always store their money in some altcoin-that-isn't-Bitcoin.

I don't have beef with new alts, but I do see this as the antithesis of cryptocurrency: It's completely centralized (99% in the hands of 1 person), 99% of the current supply is going to be distributed in a centralized manner (by the same person), huge first year inflation (10000%), and if it crashes, it will give a very bad name to cryptocurrencies as a whole (you thought bitcoin losing 70% of it's value at it lowest recently was bad, try losing up to 99%). I seriously hope that this guy does what he says and distributes it openly and transparently, but the reason why the cryptocurrency movement is here today is because we want to move away from 1 (or a few) person controlling the entire money supply, which the dev is doing currently.

With the current market trend it looks like Auroracoin is going for billion market cap just before the Airdrop commence. Interesting!

proving that it remains oh so easy to take peoples hard earned money.
to me these market cap of new coin is meaningless, so a few of the gullible pay a certain price for a handful of coin, and what about the other umpteen millions or billions of coins?

gotta love when whales make coins.

the $$ has already been made on this coin....panic buy created...check.....slowly dump into panic buys...check....millions made.....check. 

Where do you think over 600 BTC worth of volume on day one came from??  icelandic people?

dont hate the players.....hate the game.

WUT? You mean it's value isn't due to its innovation and its revolutionary features? Well sir I do not believe that i do not believe that one bit.

Yes current value is unreal and from the moon. But if you would control all supply which wont be claimed by Icelanders than best strategy would be wait to let hype make price high and coin well distributed by start of mining by community. Then when aurora will be accepted he can slowly sell coins without crushing it.

Otherwise this guy would be a dump one to kill hype knowing that it would kill final stable price. Now he could sell very limited amount and the rest would be worthless...
But of course Aurora hype is helping altcoins to be more popular even if in short term hits valuation of all other alts...

If you are master of auroracoin and you read it than Dude hold it! You are already rich so dont mess it up bro ;) You dont want to be tye next Karpeles ^^

I want to know who is still investing at nearly $50? The Icelandic people must to itching to sell these coins.

I got a feeling the dev of this coin gonna be a hero in iceland, $ 500 per person or something, thanks altcoin speculators  ;D

Interesting that auroracoin is very similar to ZenithCoin

Auroracoin

Scrypt Algo
21 million total coins.
25 coins per block.
Coins mature after 100 blocks
Re-target every 8 blocks.
50% premined

Zenithcoin
Scrypt Algo
42 million total coins.
24 coins per block.
Coins mature after 120 blocks
Re-target every 9 blocks.
50% subsidy goes to developer redistribution

Good job of the dev, he maded 500 millions in one month what a player, hahahah.

The big puzzle to me is: how can the airdrop possibly be implemented without government support?

How does he deal with a thousand people who all claim to be
Sigrun Gudmundsdottir with kennitala (national id) 120174-3389?

Have them all send in a copy of their passport and manually verify it?
I'm really curious how this is supposed to be implemented.

They only way I can see this working is if each Icelander has been issued a private key
and there is a public list of public keys (and each Icelander has been professionally
trained how to properly handle keys and keep their computer secure. Yeah right)

A wise man also said there's an a$$ for every seat...I guess I'm an a$$ with a bag!

mazacoin same premise as aura, trading in cryptorush, get in while its still low

Difference is Mazacoin is actually the official currency of a sovereign nation.

AuroraCoin is just a coin that plans to re-distribute to everyone in Iceland.

ZenithCoin has exact same characteristics as AuroraCoin just not the re-distribution.   Maybe it needs to figure out which population to 're-distribute' to.

Yeah, who knows maybe the same people will pump it with the profit made from dumping aurora.

I find it interesting to watch how much support such an obvious scam from a dev with no open identity is given. Did anyone think about how the dev could possibly liquify this volume of coins? Who would be willing to buy a stack of 10 friggin million coins on the airdrop day?

I guess I'll just be leaning back and watch the biggest and most obvious and brazen scam in the current history of altcoins happen.

I want to say that I am happy for Aurora and that I think It really is great idea and great marketing for Cryptos in general, but I absolutly agree with OP. I am not saying it is a scam (may be) but the market value is totally artificial, buying for these prices feels just stupid. There will be huge crashes, So I am taking my popcorn.  8)

I also dont get this part

Why people paying for 50 bucks for 1 aurora? They're hoping for more profit? Or it's just concerted price hike?

Yes this is the part that is an entire mystery.

Obviously a citizen needs to provide his identity number,  but is this not sensitive information?

Maybe they'll get a 3rd party to re-distribute the coins... who knows!

Every criticism of Auroracoin can apply to Bitcoin

1. It's not government sanctioned either, anywhere. Looking the other way is not tantamount to endorsement
2. It's creator is anonymous too and for no better reason either than AUR's creator
3. The creator holds a sh-t ton of coins that he mined himself in the opening days when BTC was unknown and difficulty was very, very low. If Satoshi brought a million coins to the market for sale, it would crash Bitcoin too
4. There is no wide merchant acceptance for Bitcoin. Yes this year we finally saw some national retailers like Overstock and tigerdirect, but when BTC's speculation levels were riding at their highest in late '012 there was virtually nowhere meaningful you could buy goods and services with. Small wordpress stores selling USB cables or Amazon gift cards hardly counts as a "merchant" in my book.

And finally, my favorite of all

5. What in god's name does Litecoin offer any more than Aurora offers to justify its market cap? At least Aurora is practical and is trying to find a real world use, I have not seen one good excuse WHY Litecoin should be the "silver" to Bitcoin's gold other than faster transaction times. Well you know what, other coins have fast transaction times and a dozen other more features. I think alot of people are just upset that LTC is not taking off like they hoped, they first lashed out at Doge and called it a scam, and when it proved here to stay they now want to focus their aggression on Aurora.

Also if you don't think the people of Iceland are "Ready" for crypto, then no one is really. There is no better place than an island nation of 300k experiencing currency problems to experiment, if it works it could be the thing we need to pull us out of the Mt Gox fiasco in the eyes of the world. Trust me, the average person thinks Bitcoin is a bigger scam or Ponzi scheme at the moment.

Coin market cap is drawing attention too it but only  a small amount available!

Exactly, simple supply and demand. Look at the sell orders, most range between 1-5 at most, few whales control hundreds, another reason why this would be hard for a Wolong to come in and dump the price.

Uhm, no.
Bitcoin never claimed to have a way of distributing millions of coins to a large population for free.

That is Aurora's main claim to fame. And it looks like an empty promise,
since as far as I can tell, such a distribution scheme is not actually feasible.

Indeed, it just has a new twist to it.

This coin is such a scam, everybody is always up in arms about a 1.9% premine but somehow a 50% premine is ok. Also did the dev have a written legally binding contract saying he will AirDrop to Iceland? Will the AirDrop be independently verifiable? My guess is the AirDrop will mostly just go to the devs, if there is an AirDrop at all.

lol did you see that up to 0,16 BTC  :o  ?WTF?

Just a few more days of doubling in value and #1 Bitcoin will be toast :-)

Can someone still post a credible source that says the Icelandic people and or government are actively planning to use AUR? And not some crypto that someone is simply offering to a few people in Iceland to try and have it take off?

So i just need to make a coin with 10b supply
Put 10 on circulation @ $100 each
This is it.
You have a 1 trillion market cap :)

Market capitalization estimation done including 99% of assets who are not available.

There are some crazy retard at coinmarketcap.com


Crash will be EPIC



if you add 99 time more bitcoin to the calculation of bitcoin market cap, you have ~ 8.10^11 $ (same logic as aurora market cap)

The price of Auroracoin will crash long before March 25th

I'm actually concerned this may be a new thing...

Finally someone else that agrees with simple logic. The coin has been pre-mined by more than 50% it is currently 10,500,000/10,600,301 = 99%

i think it´s to early

the true value of auroracoin is based on how long the speculator will hold this coin until 2nd gen cryptos take over with em advanced features

The same was said about Bitcoin 2 years ago...

yeahh i'd rather think it will be an interesting experiment on a national scale and that its success may overplay the doomed scenario

Now is a good time to invest in BTC, because of AUR.

Option 1: Dev steals all the premined coins, is rich. Price of AUR drops like a rock. You are poor.

Option 2: Airdrop commences. Imagine you're an Icelandic citizen. Someone gives you 31AUR. Worth now about $1860, and you have a mind to redeem it. What's the first thing you do? You turn it into money you can use. First things first, trade them for BTC. Second things second, trade those for Iceland monies. Price of AUR drops like a rock. You are poor.

Bottom line is staying in after the airdrop date is foolish. It's a daytrader's wet dream, honestly. Nobody can write it off as a pumped and dumped dead coin until the 25th, so it's guaranteed to have some value until then.

All airdrop addresses are publicly visible.  If any coins move from them ahead of the airdrop, folks will notice.

And do what about it? The Dev has deigned to remain anonymous

I think this is the main take-home message of Auroracoin.

the main way people can make money off auroracoin is just like most of the other shitcoins:  mine while profitable, and sell for BTC ASAP.  

if anybody's actually buying auroracoin they're idiots.  

this thread also deserves to stay on the first forum page to offer a sober second thread for speculators. 

Since I posted yesterday, this coin has gotten even more rediculous.

100,851 is the total that have been mined since launch.

10,600,851 is the total including pre-mine AND mined coins.

10,500,000 is the pre-mine. (99% of total existing coins is pre-mine at this time.)

That's 10,500,000 x $71.51 = $750,855,000 at it's current rate.



The pre-mine alone is now worth more than double that of LTC and it doesn't seem likely to stop anytime soon. I'm calling it right now, this will be the most epic pump & dump in cryptocurrency to date.

I see one of two things eventually happening; either the airdrop happens in which each person from Iceland is given roughly 32 AUR (which is currently valued at $2288) and we'll get roughly 320,000 people dumping their 32 coins and killing AUR in the process, or the dev dumps whatever he can of the 10,500,000 coins he's holding from the pre-mine before the airdrop to get as much out of them and killing the coin in the process as well. Either way, this coin in dead already and people are just trying to ride the wave at the very edge. Some people are going to be left holding bags, but the only person with any potential to hit it rich in this coin is the dev.

One thing that strikes me as odd is holding the pre-mined coins in 21 separate wallet addresses. Is this to meant to buy some time to dump the coins from 1 address (500,000 AUR which is currently valued $35,755,000) while people scramble to check 21 separate addresses to verify if the pre-mine is being dumped? Is there any reason 10,500,000 AUR can't be held in 1 single solitary wallet address?

it's a 50% premine with a value predicated on an unsubstantiated, unenforceable promise of countrywide distribution in iceland.  

to figure out if a scammer should hold a single wallet or 21 wallets to hold their coins for a pump and dump is like rearranging deck chairs on the Hindenburg.

the main thing that strikes me as odd is why people are actually buying these coins i'm mining. 

We know that but we cant profit from that  >:(

Tell me how i can make profit from short selling auroracoin? I will cash out the difference between the value today and value after dumping premine by icelandians (or just by preminer). I will give you the value which the coin will have in one year + 10 percent if you allow me to shortly sell your coins NOW.

Its annoying, crypto needs a possibility of short selling, all pump and dumps would be purged by that. There are 199 coins which will lose value and maybe 2-3 which will go randomly up. I dont want to seek the 1 big coin, i want to cash out your loss from the 199 other coins  >:(

the pool i'm using mines auroracoin, and sells it for btc.  If you're a miner you can profit off this irrational exuberance easily because it's currently the most profitable coin to mine (by coinmarketcap/coinwarz etc. fucked up estimations).

it's important for miners as well as investors to know that auroracoin is a Potemkin currency, and not to be left holding the bag.   This is not a long-term investment for miners or investors.  If you want to make money, that's the most prudent position to take on auroracoin right now.  

mine it, sell it, and repeat. 

Oh, I'm not trying to figure out why 21 addresses, I think my theory is as good as any (actually it might be the most sound theory as to why 21 addresses, lol).

As to why people are buying them? Simple, they see a coin that has gone from $4 to $71 (which is roughly 1,700% growth is an incredibly short period of time); They're just hoping to make a quick profit before the dumping starts. And this is why we are going to see plenty of bag holders with very empty pockets, lol.


Have fun short selling them, but the point is you run a very high risk of being one of the many bag holders at the end of this mess.


If someone is selling, then there's someone buying which means there's going to be bag holders who will lose money; and in the case of AUR they're going to be losing a lot of money.

lol, but who the hell told them to buy high and sell low?   people must be high to buy them at these prices!  (btw thanks people buying these coins!)
that's the real tragicomedy of altcoins.  It is interesting how a good story will get people opening their wallets, even with a 50% premine.  

it's coins like auroracoin that make bitcoin look safe and stable by comparison. 

I know about this coin mining profitability but its not as much profitable, diff is terrible im currently mining other coin which gives me 80 percent of AUR revenue, i am too tired now in bed to switch all rigs and to create new accounts at another pool :/
Again i missed a train but again skyrocketed a foolish coin. Racionality is a big handicap  >:( I get slowly exhausted from that, its not healthy for the whole alt and crypto-community and value. There were too many obvious overpumps and dumps last time, just to remember:
- quarkcoin in november - do you remember, so many trolls crying nonsenses like buy quarks from botnets... and noobs who bought really made profit.
- doge - december pump, january dump, january re-pump, now slow dump
- mooncoin and kitteh - total fail crapcoins with new trick - so called "relaunch" or just by correct name: buy a coin for 7 latoshi, make hype and sell for 100 satoshi and then let it die
- vertcoin - at least first coin where the dump was not so critical ("only" 80 percent of peak value)
- bitcoin - big dump by karpeles
- mintcoin - do you remember? dropped from 8 satoshi to 4 satoshi, still gaining nice profits... then pumped to 60 in 2 days and nobody knowing why... now being dumped
- aurora - we see, everything terrible, name is shit, but so popular
- mazacoin - just someone has told to fools that he has similar coin like aurora for a nation which maybe doesnt have electricity even computers and foools bought his coin and... made big profit

and so fort, everybody will probably remember any these coin but they all repeated the same schema - nothing, then incredibly fast pump based upon bullshits and promises, then dump, sometimes re-pump and then death to prevent it from stabilizing and eating buypower from new scamcoins.


I will write a story about my life, planning first book to 2016 - 18 and maybe i will give you an english version if my sister will be willing to translate it :) The crypto-tullips-era will be a nice chapter. Sad but true.

Have a nice day.

And i forgot one more thing, maybe strange, maybe weird. This is one more evidence of human decadence. People are still repeating same failures, mankind getting more and more stupid and degenerated (even because only stupid and junk people have children). All previous civilisations in history were destroyed. Usually after they went evil or totallly decadent. I strongly believe, the crypto bubble is one more evidence for higher intelligency which will slowly push them to decision to restart mankind again... Like Harappa civilisation, like Atlantida, like Sodoma Gomora, like many civilisations which we just dont know because they were melt down. I dont believe in history of civilisations only 5000 years old. Its nonsense, some structures have survived much longer but no explanation and documentation (sfinx, puma punku etc. - structures over 10000 years old).

is things just like these that had forced me to mine litecoin only then convert it to bitcoin. in the end, bitcoin is all that will be standing and all of the "alternatives" shit coins will fail, only a few "devs" will come out of this with pockets full of cash.
 pre-mine any coin is the first red flag the way i look at it, then is the insane amount of coins that can be mined that is also killing most if not all other coins.

This is truly epic. I have to say I completely missed this pump and dump.

don't worry; you haven't missed the dump.

^^ OP is right there shouldn't be lots of explanation but as what the first one  tells you people....


               the  LAW OF SUPPLY AND DEMAND.....  just understand that...   and you'll understand what this thread is about..

so for now enjoy the profit before the airdrop ^^


still can't visualize it? 

http://elvex.ugr.es/software/lazy/image/demand.png


there to make it clearer

AUR is not for the weak. Turn away if you can't look.

I'm staring straight into it's eyes.

AUR is for all wether  weak or strong.. smart people jumps in and jumps out at the right moment..     hope u wont get blinded by it ^^, and the moment this coin drops it's value... i bet you jump out too..  i just hope your smart enough to let go when the value of AUR drops.... ..  strong people are always outplayed by smart one ^^, just my thought..


note:
we have nothing against AUR..  the OP just wanted to remind us about a certain fact.. which is i'm afraid is correct if you apply the principles ...  anyway sad but true, "a wise reminder holds no value in a  mind of a fool"

the electrizity it takes to mine it.

Someone is giving huge amounts of money to icelanders. :D

Keep an eye on it

The Price will dump really big time when icelanders get them. Supply and demand, so simple. I dont understand how people miss that, basic economics for god sake.

Google supply curve shift and see what will happen :D

There is a leak of a piece of a chat with wolong and its them pumping the coin, so expect a big dump. I'll check for the log.
Not saying you shouldn't buy aur , i still believe in its initiative. But some info worth seeing.
You guys scared me in selling 2 aur yesterday only to see that aur is more then doubled by now, bastards!

auroracoin


[10:34] <Nature-> are we planning anything?
[10:34] * Joins: Loperian (Loperian@51-212-70-33.acanac.net)
[10:36] <wolong> WE ARE BUYING AUR
[10:36] <wolong> ILL MAKE A WALL AT 750, OBJECTIVE 2000
[10:37] <dogecheese> ok
[10:37] <wolong> BUY SLOWLY
[10:37] <wolong> CANCEL ALL SELLS
[10:38] <wolong> !check
[10:39] <AssemblyBot> **** Assembly check initiated by wolong - type !ready if you are ready ***
[10:39] <ITAR-TASS> !ready
[10:39] <neyros> !ready
[10:39] <dogecheese> !ready
[10:39] <st> !ready
[10:40] <Nature-> !ready
[10:40] <Nekomata3> !ready
[10:40] <^^Kilroy> !ready
[10:40] <csshih> !ready
[10:40] <rowtrip> !ready
[10:40] <Deadhand> !ready
[10:40] <december92> !ready
[10:40] <Loperian> !ready
[10:40] <urukhai-pumper> !ready
[10:40] <--vacuun--> !ready
[10:41] <wolong> !end
[10:41] <wolong> we will go to at least 2000 at first wave
[10:42] <wolong> buy small amounts of AUR slowly
[10:42] * Quits: Deadhand (Deadhand@dsl-7-143-127-14.bb.dnainternet.ru) (Quit: )
[10:45] <Nature-> and when we will recover the GLC pump?
[10:47] <wolong> that week can be the moment, start microbuying glc if you want
[10:47] <wolong> we can pump to 5000 or more easily
[10:47] <Loperian> nice, i have some stack of glc waiting
[10:48] <Nature-> good! Wink
[10:48] <urukhai-pumper> motherfucker! dont dump on us
[10:48] <Loperian> lol ill wait until 5000
[10:48] <urukhai-pumper> hahaa we will see..
[10:48] <Loperian> trust me! xD
[10:48] * Joins: cryptoshark (cryptoshark@98-176-236-61.dclient.hispeed.fi)
[10:49] <cryptoshark> you started?
[10:49] <Nature-> cryptoshark: we are doing aur atm and next pump will be glc.. be rdy
[10:49] <cryptoshark> ok ty

Plenty of time till the airdrop. We'll see what happens then.

Its good to know.. But now that everybody knows... they probably have a backup plan :P

As kennitala (personal identification) is publicly available in Iceland it will take more than submitting this reference to claim your free coins. I really can't grasp how the developers can achieve this. Are they going to accept any IP address from that region that submits a valid kennitala? If so, I will be booking a flight to Iceland soon and will be rich.

This is a btc op run by the big btc bagholders to change iceland central bank stance.
Their plan is to give a taste of cryptos to relatively small population of ireland.
And then hope for the best that the icelanders will petition their central bank to change stance.
It has the right number of population and the financial infrastructure to support it.
So i think instead of being skeptical let's hope for the best..that the airdrop is a success.
It will be a very big thing for cryptos if the icelanders actually wake up to cryptos.
Forget 1500$ or 1000$ per citizen, even 50$ free money is huge promotion and enough for skeptics to taste.
Waiting for that reports "Icelanders cash in 1500$ worth of aur crypto currency in local banks"  to show up in cnn or reuters.

I also wonder this, does anyone know? How does the dev guarantee, using a public database, someone is really who they say they are?

In this thread: Butthurt people that lost the Auroracoin train.

They don't care because it is a SCAM!

MAZA is WORSE!

I rode the BITCOIN train.  Not worried about the couple thousand of these in circulation that were mega pumped.  Unless you are a scammer you missed the "train" - are you one of the fraudsters?

No, I early minned. You can still get on the train, the dump will happen like 2 days before the airdrop, most likely is just going to go up until then due hype factor. Thats what logic says.

some retarded people here

some people ignorant of trading.


A. it being illegal and little announcements doesnt make it a scam.

BTC isnt legal or is semi not legal in many places it is traded.

B. yeah he can dump the premine and sure he is suffering from temptation as we speak.

c. nearly anyone with any intelligence at all who got into this, UNDERSTANDS THE FACT OF THE PREMINE.

it isnt some sort of magical discovery that OMG 50%  premine means the actual SUPPLY IS MUCH LARGER.

fucking duh.

same thing with coin halfing.. "OMG THE BLOCK REWARD IS GOING TO HALF NEXT WEEK.. BUT IN WE WILL ALL BE RICH"

no .. the people who know what they are doing, bought in on the idea of the halving months before it happened. You position yourself early in the markets for things that can be predicted way in advance.

If you got into this without understanding the premine, that is your own idiocy.

and mind you there is a reason why a coin with a 50% premine magically got on cryptsy.. people actually want to see this work, because it it does it will have a ripple effect across the entire alt coin markets because this is what we advertise as one of the best reasons to have alt coins, removing some monetary controls from the big banks and governments. Cryptsy hates major premine coins for the same reasons people list.. but they are HOPING this will work out as advertised because this shit is big.

as for the air drop causing the price to drop... its only one pressure.. your assuming the buying pressures dont increase as well. I personally think it will go down because a good bit of the price is due to the pumpers and i do have questions and concerns over the drop.... but i will say again, there is a good reason why this is all over the exchanges right now despite the premine.

You would say that as you have coins to shift (not that I blame you though).

Airdrop = Forfeiture of Identification (http://auroracoin.org/airdrop.php) for "virtual currency"
 
1000 people or less will be inquiring about their "right" to their fair share.

Aurora coin-- next big thing since ORB

humm besides giving free aurora coins to icelanders.. will they actually be able to spend them?? like shops or services? or is it all about speculating?? ;D

It is unfortunate that there are too many people with too much money and not enough common sense to realize when the wool has been pulled over their eyes. When someone reports a calculation of a pre-mine they do it against some far unreachable number that lies in the future only after the coin has been successful for 20+ years or its full capacity of mined coins.


The bottom line of any of these currencies is to trade them as a store of value, an alternative to fiat. The problem is though, with ALL crypto-currency, they must be traded against another form of fiat or they don't actually hold any value. If we eliminate all other forms of fiat we will succumb to a one world currency, is this what we really want?

The idea that you can create a new national currency with a huge market cap and give it for free to all citizens without the approval of the government is preposterous. It's basically a sabotage, a bribery. The only way that they could have got away with this if there was 100% premine and all coins given away for free when the market cap is $0.

Bribery for what??? And why do you need the governments approval to give something away???

I don't really think this will work but your arguments make no sense

It's not 'something', it's new national currency which already has high value. Sure, the government will approve this.  ;)

That sell pressure is pretty damned large. There are 100k coins in circulation, what do you think will happen when 10.5mil pops into existence? That's like Satoshi popping up and saying "whoops, the real limit is 21,000,000,000 Bitcoins". Also, why would the buy pressure increase at all? Everyone in Iceland is getting free coins, why would they buy more (at least directly after the airdrop?)

Btw everyone, I'm not commenting on whether this is a good idea or not (the motive behind it may be! But execution... not so much), my original topic was aimed purely at the aspect that one person currently holds 99% of the coins and that when the airdrop happens, the supply will inflate by 10000% over a one year period.

Also, it seems that pump and dumpers have found their dream pump coin. They put in enough to raise the true value by $1mil and the marketcap goes up by $100 mil.

Bumping this. Speaks volumes, thank you.

Shameless plug, I just came up with an airdrop scam way better (& executable) than Auroracoin
https://bitcointalk.org/index.php?topic=501381
What do u think?

I met the developer for MAZA last night. Yes he was a real Indian. He spoke at Bitcoin Center New York City. Later he sold me a paper wallet of 10,000 coins for $100 cash. Having a hard time transferring the keys to my linux QT wallet he wrote me the next day and I sent him my address and he sent me what was then worth $1000 (cuz it jumped 10x overnight)

Not everyone is in this to scam people. Some of us actually are trying to change the world. If you cant afford the game or cant afford losing once in a while you shouldnt play. Whether or not Aurora is a scam I cannot say. I would like to know as well but in the meantime I choose to play.

AUR will peak on March 23rd at 0.99 Bitcoin. Mark my words  8)

marked

No way. It will prolly be dumped short b4.

We will see if it will be Wolong style dump ? - all case is interesting

Are there any technical infos about the id verification for the airdrop? The blueprint doesn't reveal much.

please take part in my poll concerning the airdrop of auroracoin: https://bitcointalk.org/index.php?topic=501714.0

can you mark MAZA too?

Are you running out of morons to sell your coin to? My big issue with this coin is that it is taking money out of crypto and into fiat (anti crypto).

I said this in another thread, and I will say it again here:

The entire concept of the DEV of this coin actually distributing the coin to the folks in Iceland is going to be an EPIC failure or a TOTAL SCAM.

The DEV had an IDEA of distribution but released the coin without a REAL implementation plan and either one of several things is going to happen.

1. He will attempt to find a manual method of doing distribution, or will mail out some random paper wallets, or find some other half ass way to do a TINY bit of distribution and claim that he is meeting his promise.

2. He will give the coins to friends, or perhaps to a group of folks on an iceland forum board or IRC channel (These folks may or may not be actual Ice Lander's) and claim that he is meeting his promise.

3. He will dump them him self or by using friends and other associates... if he is smart he will do this slowly in combination with some of the above mentioned.

4. He will dump a bunch of the pre mined coins himself in large quantities (get noticed) and disappear with a large profit.

What I can GUARANTEE YOU will NOT happen is that the coins will be distributed to all ICELANDERS as promised.

Sure there is a national ID system that "COULD" be used for verification purposes.  There "COULD" be a method of checking an online form fillers IP address for Icelanders ISP's.  There "COULD" be all kinds of things.... BUT all that SHOULD have been put in place BEFORE the coin was launched, and all of that WOULD have been in the media many months prior to seeing it show up only in forums that discuss bit/alt coins.

I completely understand folks jumping on new coins for quick profit (I do it myself), but the amount of Zealotry in this thread makes me sick to my stomach.

All of you in this thread need to ask yourself these questions:

Where are the websites and detailed TECHNICAL PROOF of any kind of coin delivery system.  Where are the WHITE PAPERS showing his plans to thwart hackers and folks who would try impersonate Icelanders via VPN or by generating fake National ID's via algorithm like a common key gen?  Where is the proof that the dev even has ACCESS to all the ID numbers in order to prove they come from the national database?  Where is his list of Icelandic addresses if he wants to send paper wallets? 

Let alone how is he going to explain what he is even giving away?  Contrary to popular belief, most folks don't even know what a BIT COIN is, let alone what a Auroracoin is.  Does the dev think that all these folks are going to get on a computer and take the weeks of reading and searching to find out wtf a crypto currency is, how exchanges work, how to convert to BTC/ Etc?  If he plans on delivering "paper wallets" who is going to explain to the common folks how the encryption keys work or how to "sweep" those keys to a physical wallet?  Where is his program for mass adoption of this coin in Iceland?  There isn't even a SINGLE place in Iceland that will accept this "coin".  NOT ONE STORE. 

He would have had to have MASSIVE (AND I MEAN MASSIVE!) youtube, twitter, blog-o-spere, and PUBLIC educational videos already available BEFORE the coin went live in order for this to have a chance in hell of ever working.  Even with ALL the above the chance's are still TINY that the country would adopt any crypto.  People on these forums just need a reality check of the fact that most people aren't even computer literate (sure they can get on facebook, and type out a few emails, but that is pretty much the extent of it) let alone able or WILLING to do all the research and experimenting with cryptos to even make it worth their while.

I could go on and on.

The reality is that there is nothing but WORDS on a website.

Only some anonymous coin dev making promises that he can't deliver.

No matter what happens with this coin it WILL BE bad for crypto's, and ALT COINS in particular.  This will be seen as another failure because the DEV of this coin did NOT do his homework BEFORE release.

This post is not FUD, nor is it an attempt to move price one way or the other.  It's just a fucking reality check to those of you who are blindly believing in the promises of some random person on the internet.  IF that isn't the definition of gullible, than I don't know what is.

If you want to go on about the short term profits of this coin, or how your market orders are doing well, fine.  I'm all about that.

But let's call a spade a spade and stop the bullshit about this coin actually doing ANYTHING positive for the folks in Iceland.

As they say... "PICS or it didn't happen!"  I say show me the PROOF instead of just WORDS on a website.

why don't you people stop god damn pissing and moaning about whether this is a scam or not and just pump it up so it will have some value.

it's low enough now that if people would just jump in and drive it up a couple of hundred dollars, everyone in it could benefit.

Except guys who will buy at that price...

well then they can wait til it goes down again and buy it low and sell it high.. tired of all this speculation.. crypto currencies are starting to be just like the rigged stock market..

Keep in mind, nothing happens in the world of finance without us jews backing it. If you want to go to the moon, remember who pays for the rocket. The value of Auroracoin is whatever we want it to be. And right now, we want it up. We want to thank Iceland, the 100 or so jews living there. This is our gift to you, brothers and sisters.

Only an idiot would invest at that price. I ruled it out before it was released as a scam coin. I would have joined in on the pump and dump, however assumed people had more common sense/less greedy (you live and learn).

maybe you should check your jew math.. it's not going up... better tell your hooked nose agents to check their math as well..

So much speculation over there but everybody who works with mathematicks know that there is only 6000BTC inside Aurora right now so i= s extremly unvalued it should be 10x more times valued before Air drop ....

Much truth, such bummer, wow!

You're over analyzing on this whole thing. Why fucking worry about what happens on the 25th. It's no more a scam than the Mazacoin. How about just pumping it while you can and let the developer work on the air drop. People like you get all the potential investors fucking scared like a bunch of fucking cats in a room full of rocking chairs...

God damn it went all the way to .170 BTC on Monday and then all the fucking douchebags that couldn't get it while it was low start squawking that it's a scam to make everyone that was holding dump it.

So we should just pump every coin mindlessly without doing analysis so people like you can profit?

You can't ignore reality.

biggest scam ever, I blame myself for not mining this when I saw the ANN thread, but I will sit back and watch the price plummet while people crying their eyes out in a week or so's time.

I never said we should pump every coin. Aurora coin has a good story around it. Why not get behind it and not worry about some event that's going to take place in 20 days. If it's a scam it'll be known after that date.

Reality is that before a coin goes public on a exchange, it should have been checked on it's validity.

Word

AUR is pretty much worthless compared to the displayed market cap which is incorrect. This was a clever idea by the developer to get rich.

I'm going to assume that this is part of the game in getting it as low as it can go before all you hypocrites jump in and pump it up. I see more value in it because it's being done for a country's population. All the other altcoin currencies are pretty much worthless as well.. They're all driven by hype. Dogecoin has been the biggest flop of them all. To the moon my ass..

Mazacoin is another one.. Ooooooo it represents the Lakota Nation and it's for a good cause.. Bullshit!! Just another hyped coin for a pipe dream cause..

Yeah I got some AUR and I want to make some BTC... Just tired of all the fucking hype and doom about every damn new currency.. Someone has a bad feeling, someone believes it's a scam...and then ohhhh shit everyone fucking dumps.

I don't really give a shit if the developer hasn't put out a 2500 page document on how the airdrop will work etc. etc..

Why does anyone have confidence in the USD?!? It's fucking worthless and backed by nothing... But you all can't get enough of it can you.. What happens when it loses confidence to the public?? What's you precious crypto currencies going to be backed by then?? Seriously, if the dollar disappeared overnight, WTF would BitCoins really be worth?? I suppose you could sell them for other currencies, but try taking a Chinese Yuan to your local Walmart to buy groceries.. 

Do you know what a ponzi scheme is?  The original ponzi scheme had a good story.  It was the reason everyone bought into it.  Even after early investors figured out it might be a scam they still kept telling people to buy into it because it was a good story just to pump it up so they can get out.  A scam is a scam even if it is a good story.  A story doesn't have to be true.  it can be an outrageous lie.  So should a coin be pumped because it is a good story (lie)?

True value of Auroracoin is at least parity with Bitcoin, if not higher, once Iceland's entire commerce switches to AUR. Keep in mind Iceland is extremely rich in natural resources (natural gas, crude, geothermal energy etc). Iceland is not some cheapskate Lakota nation living under the oppression of the Obama regime. It's rich. Exxon Mobils of the world will have to buy AUR from us to pay Icelandic wages, buy land leases for exploration and to pay taxes in AUR.

http://media3.giphy.com/media/IY4hKfKbc66A0/giphy.gif

Oh you poor deluded soul

Ignore him. He's just jealous he's not Icelandic and not getting anything from the airdrop!

TBH, It takes work for a coin to become successful and a lot of it, it took Bit a lot of year to get where it is now, i would say the same for Lite and Doge (Doge is only a few months old, and it has a HUGE progress implementing the coin into practical use) All other coins  are just there for PUMP/DUMP i mean seriously..

I will not buy Aurora coin or mine it, but i hope it succeeds.

Well, its now down to $30 and tanking... It looks like everyone is jumping ship to the next coin.   The hype is over.

BjörkRoad coming soon

Yeah, it's worthless.

http://daft.cc/auroracoin/compare

Auroracoin back to #1 as the most mined coin. I hope you guys are loaded with cheap coins as the next pump approaches.

You should know better than to spread false hope. With the exception on yourself, it's telling that the newbies (who are probably bagholders) are praising this coin and the members are sceptical. And people thought it would overtake Litecoin (poor deluded fools).

Quoted to make fun of you in the next pump.

dude why don't you just STFU!! god damnit!! Put some confidence in the coin or get the fuck out of the thread and go buy whatever coin you don't think is shit..  I'm fucking tired of all the god damn dumping of coins because someone had a bad opinion of them..

AUR: High difficulty : Long confirmation times : Low profitability : Broken without KGW

Why would anybody mine AUR ?

Hello Bagholder

But, but, but ... it's gonna be the national currency of Iceland and solve all the problems that Iceland does not have and ... it's just good, goddamn it!!

Nobody cares.

+1

+1

Hello,
Buy Aurora in April, is to buy a place of paradise
it's Sure !
Well Done  ;D

Said it before and I'm gonna say it again.  THIS IS A SCAM COIN and it will be bad for crypto's in general.

Is there not any benefit to trying to encourage people into the cyber world. Dr. Michio Kaku yesterday described the future being in the cyberworld, with the ability to buy/sell/trade/upload/download memories and experiences.

I am not vouching for the integrity of auroacoin as being a good or bad coin, it just seems like this is current banking system being the frog in the slowing boiling pot of water, it doesnt see the change the cryptocoins bring to the world. A force that cannot be stopped. The people of iceland need an investment where everyone gets atleast $10/bitcoin worth of auroracoin, place a bottom threshold by some larger investment group, truly eliminating the risk to the people, to begin facilitating trade in bitcoin/crytpos, if it works, just imagine the next round of investment for the next country, if it works things will likely grow until critical mass, and then crypto dominate and fiat is dead

I predict: a massive spike in price of AUR some time after the beginning of the airdrop. I don't know what will happen until then, if others anticipate this, or the price after the beginning of the airdrop.

Hi.

i thought i made a reply but i can´t find it..

i´m from iceland and i have no idea how this works.. i just claimed the coins..

can someone advise me wtf to do ??

msg me plz if anyone´s up for it :)

regards Thor.

Trying to encourage people to fall for scams in the cyber world is not justified by having as a side-effect the bringing of people into the cyber world.

Secure a blackchain, very very secure, provide an exchange for it, also very very secure, do all the penetration testing, checking of the reliability of mining facilities to try to harden them against DDOS attacks and so on, then when fully ready with a real product, go ahead and bring people in.

That way instead of being brought into the cyber world as people who know it is a scam, having fallen for a scam first thing upon entry into that world, you can bring people into a secure cyber world of secure ledgers and such. And even then they will likely have difficulty securing their own personally owned coins so a far better contribution to the cyber world would be to work on the usability-by-the-ignorant aspects of the wallets used by the very few actually secure chains rather than to work on "using" the ignorance of the ignorant to scam them with insecure systems that are not yet secure enough for the real world.

-MarkM-