Speak for yourself. I just put money into both of those in the last few days. IMO, NxT is one of the biggest potential growers of all cryptos. It gets more unique with every month as new functionality comes online. If you're worried about distribution then fine, but it's nowhere near a showstopper for me and a lot of the development work is now being funded by big accounts so it has its upsides as well.

As for Aurora, it's at a crossroads. Icelanders are using it, it will see a great deal of network effect over there. There are already bands accepting it for merchandise, 2nd hand goods markets and TV reports about it. Iceland is a small place with capital controls and a very unpopular central bank. Aurora is potentially a match to a tinder pile.

I won't be dismissing those two for sure.

Right thanks. If what you're saying is true you can't see me for dust getting over to Poloniex right now.

You might want to address this article by Hazard more specifically: http://cryptolife.net/myriad-opportunities/

http://cryptolife.net/myriad-opportunities/

** only ** ?

Do you realise that 2500 is a huge amount for a coin with a supply of only 1.7 million ?

Correcting for coin supply, that's like holding 40,000 Litecoins (in terms of proportion of the coin supply).

There is movement on BTER. Over the last few days 4-figure orders have started appearing. It won't take much to attract a big interest in this coin again - it's already just popped up on Marketcap today because of everything else going down. (A bit like a dry summer in Spain when the reservoirs deplete to such a low level that church spires start appearing up through the surface of the water indicating the prescence of villages that were flooded the previous century to make way for the reservoir).

If this coin gets going technically it will definitely go somewhere price ways.

I bought a load just before the crash, but just before I go out and mop up some ofthe dumps, would you like to address one point that I've heard ?

The coin's got all these algos that make it more accessible - great. But doesn't it also expose it to more points of failure ?

In other words if you've got 6 algos, you've got 6 times more chance of breaking than if you've got only 1. As I understand it they are not redundant (like aircraft engines - if one fails the others keep going).

With multiple algos in 1 coin, if 1 fails the whole coin's sunk isn't it ?

(P.S. I'm not trolling. I want to get this out of the way while the coin's on the deck because if it rises the trolls will all appear and that's one thing they'll use).

Network effect.

I've been on the fence about how well this project would pan out after the airdrop, but I'm starting to see more evidence of a potentially massive success.

There is an actual Aurora economy already established in only 3 days. People are buying and selling 2nd hand furniture, cars and clothes with it.

Clearly, some people are dumping as soon as they can get there hands on it, but the coin's spreading. All it will take now is a slght increase in value and that will be it: People will stop dumping, hold and at that point things will get very interesting.

Iceland has capital controls. The reason it has them is because everybody hates the Krona (and did back in the eightees when I was living there) and would dump Krona for Dollars, Sweedish Krona, GBP, you name it if they could. The Krona gets devalued on the whim of successive Icelandic governments, resulting in the type of graph you see on the Auroracoin website.

If Aurora even gets a slights foothold, the central bank will have a dilema on its hands. They will increase Aurora's valuation simply by devaluing the Krona (which happens fairly periodically). Also, Iceland is a small place. You can buy second hand goods from someone and be round at their house in 10 minutes to pick it up. Real world goods exchanges are practical there and don't require Paypal and Fedex to complete the transaction.

As far as network effect goes, Aurora is now getting it in bucketloads. Here's a radio show where the DJ is chatting to a band who have just announced they're accepting Aurora for their misuc and merchandise. They have a chat about Auroracoin and how the band members are massively behind it. ("I think in a year's time we'll be able to buy beers down the pub with Aurora just like you can in other countries with Bitcoin").

This is going to be interesting I think. (If we can get past block 5400. only 10 to go)

"The Band 1860 Accepts Auroracoin"
http://www.ruv.is/mannlif/hljomsveitin-1860-tekur-vid-auroracoin

"Auroracoin 2nd Hand Goods Market Springs Up"
http://www.visir.is/bilar,-snjallsimar-og-haegindastolar-fyrir-auroracoin/article/2014140329024

If they did do that then it was a very clever promotional strategy that worked.

Although BitcoinEXpress makes some interesting conjectures, the overall garbage level of his posts is too high.

According to "Morgunbladid", 5000 had already collected their quote 3 days ago. That was 2% of the population back then.

http://www.mbl.is/vidskipti/frettir/2014/03/25/5_000_bunir_ad_saekja_auroracoin/

People have actually started using it for trading second hand goods...

http://www.visir.is/bilar,-snjallsimar-og-haegindastolar-fyrir-auroracoin/article/2014140329024

    

You must be living in a time warp.

2tights. I don't think thats necessarily true. Gold's industrial value is peanuts compared to its monetary value.

No monetary media needs to have an industrial value. In fact, it's an important property of any monetary medium that it works as well as possible as a token of exchange and as badly as possible for anything else (other wise it has a tendency to go out of circulation as gold jewellery, circuitry and teeth have done). The monetary medium derives its value from it's "role" in the economy, not from any sense of "intrinsic value" (which is a misnomer anyway - it's easily demonstrate-able that nothing has intrinsic value).

Gold was the "bitcoin" of the old physical world markets. It had certain characteristics of fungibility, resistance to counterfeiting, ilmited supply etc which made it function as a token of value. It was the fact that it was widely adopted in a monetary role that have it it's value - not the other way around.

Here's an example to illustrate. If you go to a kids funpark and buy a few of those plastic tokens for the rides, they'll cost you about 5 Eu / Dollars whatever each. On the other hand, if you buy them in a hardware shop, they'll cost about 1 cent each. So you're paying a markup of many thousands of percent for exactly the same plastic token that is in the monetary role. Nothing to do with "intrinsic value" of plastic tokens.

Gold is exactly the same - it doesn't not have any intrinsic value. It's just that people make a deeply rooted association with gold and value historically, so the word 'intrinsic' gets used to reflect that.

We now live in an electronic trading environment, however and you can't "hold" gold electronically so a new monetary medium is required, hence the emergence of cryptocurrencies.

When you look at it analytically in this way, they actually have more justification for a high valuation than gold does.

That's true actually.

Nearly 1.6 million bid, 286 thousand on offer with almost no supply below 7.

Even if you wanted to pick up a load a this price - forget it. There's no liquidity till 6.8.

I can't believe you think that. That article is utter nonsense made up by an idle-minded journalist looking to create a bit of bluster for the sake of it.

Monetary media don't draw their properties - "fungibility" - or otherwise from the whims of tax regulators. You might as well say that dollars are not fungible in the Euro economy because they attract capital gains tax.

The article is basically a scam. Read this http://en.wikipedia.org/wiki/Fungibility.

Specifically this part:


Do you really think that the fact that one day gold is valued at $1200 and another day at $1500 destroys the fungibility of gold ? Thats what this idiot would have you believe.

Can anybody tell me who Emule is ? I'm new to this thread but have caught up with some of it.

Why is he so bitter and throwing his toys out of the pram ?

Why is he saying he's going to "bring NXT down" ?

More precisely, they've tried to severely restrict what you can do with FIAT. (i.e. as far as Bitcoin is concerned, they've tried to prevent FIAT being used to purchase Bitcoin).

The only reason they can have any influence over fiat in the first place is because A. they control the money supply and B. fiat is not base money (like cryptos are) and is therefore dependent on counterparties (known as "banks") to manage it on behalf of its holders.

They can't do a sodding thing about Bitcoin and haven't restricted it in any way shape or form.

Congratulations on winning idiotic remark of the day award.

All they can do is attempt to restrict exchanges into fiat directly from Darkcoin. They can't ban the actual network because it doesn't need banks. Anonymous currencies will still be in huge demand will serve as an "anonymising" tool for the currencies that have open blockchains like BTC.

All you have to do to completely erase your trail is exchange BTC --> DRK on a decentralised exchange (which are on the way) then back to --> BTC.

I don't know if people realise how the writing is totally on the wall for any kind of centralised regulation of crypto economies. There's not a snowballs hope in hell of tracking all this stuff and it's only a matter of time before that fact starts to dawn on everybody.

r.o.t.f.w.l.

Think you might have watched one too many "Poseidon Adventure" repeats.

LoL !

An Icelander praising the merits of government "backed" currency ?

You'll do well in the market for bridges.

http://www.blogtyrant.com/the-man-who-sold-the-brooklyn-bridge-twice-a-week-for-30-years/

Last time I looked I was still 300% up on my investment of a few months ago.

If that's "dying" then I'll have some more please.

What a clueless remark.

I actually think that people underestimate the extent to which precious metals are now obsolete as a store of value.

The internet is barely 25 years old - yet almost all trades these days are conducted electronically. We now have a worldwide eletcronic trading platform, not a physical one.

Gold is actually no more than a "physical" bitcoin. It is a unique, fungible token - just like a plastic token at a funfair. It has no "intrinsic" value as such - its value derives from the fact that over the years it was found to have the very rare qualities that allowed it to serve as a generic unit of exchange.

In other words its value derives from its *role* as a monetary medium, not the other way around.

Remember the phrase "if you can't hold it, you don't own it" ?

Well, now that we have this worldwide electronic trading platform, that phrase favours cryptocurrencies more than precious metals. With cryptocurrencies you can electronically "hold" what you own. It's "electronic" holding of the base money medium that matters - not physical holding.

You cannot do this with gold. ok - you can have it delivered to your door, but the gold market would grind to a complete halt if every single trade had to be matched with a physical delivery somewhere.

That is why the writing is on the wall for precious metals as a store of value. Yes - if there was a worldwide currency crisis tomorrow, the gold price would undoubtedly rise, but its future is now severely limited in my opinion, even as a "safe haven" investment.

Yes. Because this guy did a video on it saying he's been researching coins for weeks and decided Vert was the only one he'd invest in. Then the video got an airing on BrotherJohnF's "Bitcoin Channel". Within 25 hours of it appearing, the price started rising. (Unjustifiably).

Now that that video's fading into history, it will start to dump again and you'll be able to get some.

http://www.youtube.com/watch?v=SGJN3sHLZS0

Perfect timing. There's no liquidity on Cryptsy at the moment so use BTCWhale's technique and just drop 1000 of your own holdings on the market and the price will be down at 2 satoshis in no time.

You'll be able to pick up plenty then (just make sure you sell them back to yourself at 2000).