Im mining at easy-mine.eu site is down but im still getting accepted shares. Anyone who can confirm if we are getting paid or do we need to stop for a while?
I have not been paid and the site seems down. |
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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.
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On my checklist:
1. Scrypt Jane POW (to avoid botnet armies) and maybe a tiny little POS to avoid 51% attacks
2. Widescale adoption - auroracoin type distribution
3. Anonymity protocol built in if possible
4. Would be excellent if someone could just build exchanges into the mining pools itself to allow miners to directly sell to the public in a distributed fashion
5. Competent devs to promote community awareness, develop wallets and merchant tools - plus capacity to properly check id cards to avoid fraud when airdropping coins
6. Kimoto Gravity Well
7. Premine but only for national distribution
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At the very least Auroracoin paves the way for other similar copycat national coins where they have national ids. Think Singapore Coin, Taiwan Coin, HK Coin, Austria Coin, Belgium Coin, Czech, Poland - heck most of the EU.
The market cap for each coin will go up and the citizens get "free" money. Some of these coins may succeed and some won't depending on the devs. Overall, Bitcoin will be the big winner due to populations becoming aware of cryptos.
BTW, the biggest "enemy" of bitcoin is apathy with only 0.02% of global population owning any.
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drop some here AeqZN8GRTVCTHoEq26Qu55bZYe19pyeKRQ  |
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4th spot now. This baby might even takeover number two spot.
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Lets just say a load of people, I mean average people like your parents get given this and told its like Bitcoin. Guess what they are gonna do with it?
What would your parents and grandparents do with it.
BINGO!!!!
Expect the biggest dumps in crypto history as they sell them for 'real' money.
Yes, but first they must learn how to setup a wallet to claim their AUR, find an exchange, understand what a private key is, discover the blockchain then buy bitcoins, then convert to USD then maybe to Krona. Or they say WTF, I'm going to keep this for my grand kids. |
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At first I thought great why not have coins for every nation just like fiat currencies then you realize their is zero need for it as we are global now and a currency like Bitcoin will cover it all.
Once Icelanders have this coin and end up maybe buying more with fiat or trading Bitcoin for them, they are gonna be pissed when they find coins can be as easily dumped as pumped. It wont help them....just a Gimmick.
Yes but a good gimmick. The number one problem of bitcoin is adoption with 0.02% of global population owning bitcoins. AUR, I hope will fix this problem somewhat in Iceland. If we can get 1% of any population, anywhere, to own a crypto of any kind, we have won the war. |
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This is a English learner's question: Why he said "Gox Crisis Management Plan Confirmed Legitimate" instead of "Gox Crisis Management Plan Confirmed genuine" or "Gox Crisis Management Plan Confirmed authentic"? Am I right that this is a mis-use of "Legitimate"?
I believe he used the word legitimate in the sense that it was not a fake document written by the releaser of the document, twobitidiot or some other person. |
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Ban bitcoin? Is America still a free country?
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Yep. Either Mark traded whilst insolvent or MTGox's cold storage will pop up somewhere.
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Personally no I'm not from there and up until now I've never heard of this site but will look into it if others are finding it to be useful,thanks for brining it to my attention.  Mimocloud is not useful. Would advise to be aware as they have not gotten deliveries of machines from hashfast. |
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Yeah, looks like China is going on a major buying spree. Perhaps people are preparing for financial blow ups in the trust sector.
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i can tell you cloudhashing.com is real scam
Ftfy |
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Let's assume that the situation as we currently understand it is correct - that MtGox has indeed lost in the order of 750,000 BTC due to theft via malleability exploit.
The question I haven't seen asked yet is WHO might have been responsible for this and does this mean there is someone out there with 750K coins hidden away?
Possible - yes, but unlikely.
If we take a step back and look at things - the theft occurred over an extended period where unknown parties drained the hot wallet on a regular basis, which was then being topped up from their cold wallet. Rinse and repeat. This combined with the fact that BTC was worth a lot less a couple of years ago makes one think the perpetrator probably took the bulk of the coins early on when BTC value was significantly lower. I wouldn't be surprised if they reduced their "take" over time as the price rose to keep under the radar.
MtGox previously stated they had accounts flagged for suspicious activity so hopefully transaction records will be made public as a matter of course and allow us to confirm if this was the case or not. Whether or not this was one person or several, I've no doubt the thieves stashed away a nice chunk of BTC but it's doubtful they held onto a truly phenomenal amount. Most likely they tumbled and sold the bulk of them over time as they went, human nature being what it is.
Regardless, if this results in fewer coins being dumped on the sell market each week then it's a good thing!
Thoughts?
The MtGox liability to customers and itself is 750,000 coins. i.e. MtGox sold 750,000 coins kept on its internal system as an IOU. The cold wallet of unknown amount is MIA but presumably less than 750,000 coins. The drained amount of real Btcs is unknown. |
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BTC-E - whose creators are ANONYMOUS. You will have zero recourse if BTC-E collapses. Keep the bulk of funds in your own wallet.
http://imgur.com/5Qmrwy2Those look like gold grapes!!!  |
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Just quoting Antonopoulos from here: http://antonopoulos.com/2014/02/25/Based on this blog, it appears their “cold storage” was not in fact “cold” – which is either a stunning misrepresentation of their security or an outright lie. “Cold storage” does not “leak”. The idea that the funds were stolen, unnoticed, from cold storage, due to Transaction Malleability, strains the credulity of even the most gullible observers. |
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Gox should file for bankruptcy, let trustee and professionals handle this matter. This is in the best interest of everyone.
And perhaps more critically, avoid jail time for senior management. |
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