Why dont the AURORA Coin team just use BITCOIN?

[GuinnessBIT]

I've been watching Aurora coin unfold.  While I admire the concept, I would like to see a similar effort take place with Bitcoin.

Therefore I would like to announce a new Bitcoin effort to help the city of Detroit!

This is brand new so there is no website built yet,  only a BTC address for donations:  1DetRoitbfHwrjeiMVKSN9xpexYotQcx7m

We are currently soliciting volunteers and donations to help put together the site and see if we cant help a city that desperately needs it. Also to do it with the support of the BTC community.  The money raised will be used to beautify Detroit neighborhoods that desperately need it and help to revitalize the city.

Additionally money donated will be spent on Detroit projects and can be audited against the blockchain.

Help by donating or volunteering today or posting constructive comments (hopefully)!   

1DetRoitbfHwrjeiMVKSN9xpexYotQcx7m   or info@theDcoin.com

[rikkejohn]

Maybe the dev team just don't own enough money to buy enough BTC for feeding 300k peoples ?
So they made 1.

Scam or not, they not using BTC obliviously because of money.

Oh my God, Iceland has one of the highest GDPs in the world, and that is shared comparatively evenly. People in Iceland are not hungry and they are not poor. They are depressed, but a crappy crypto-scam won't solve that.

[rikkejohn]

Because if they used Bitcoin they wouldn't have a 50% premine to launder into their own wallets via "Air Drop".


That's the only reason the dev team has refused to turn over the premine to a trusted third party and remove themselves from the laundering "Air Drop".


~BCX~

i bet half of that 714 activity posts are to bash auroracoin. Don't you have anything else to do? We get your point. 100s of posts in every AUR thread saying it's a scam. We get it, we get your opinion, no need to say it 100x in every topic.

Actually, people need to get a grip on reality, so the posts are really warning people without the ability to see beyond the end of their noses.

[defaced]

The premine of course would be the logical reason they can't use bitcoin.

I haven't followed this coin very closely, but if we pretend it wasn't a scam, the premine would be needed so the receivers would actually get anything. But then it turns into another problem of the early receivers being the only ones getting much at all, as they would sell their coins, meaning those who got/sold them last would only make a tiny, tiny percentage of the coin's current worth.

As a scam, it makes much more sense, as the dev can sell of some of his coins, slowly not to kill the price. Then if he wanted, he could airdrop some of them, again sell more off... bring up 'complications' or some reason that all of the coins couldn't be given away, and make a nice bundle. I'm not even sure from a logistics standpoint how the coins could be given away.

I guess what possibly could work with this sort of giveaway is if there was a trusted 3rd party, perhaps what maza could do if they wanted (tribal councils, non-fiat bank), or something like that ... or a group that used the coins to help the community rather than give coins to each individual person.

Although we don't need more junk coins (and may give someone ideas here how to scam people), something like a Famine or Red Cross coin could potentially work, IF the receiver of the coins wasn't corrupt, and also didn't simply dump all the coins immediately to kill the price. The coins could be used to improve living conditions or as-needed vs giving to each individual person.

Pretty obvious this is a scam.

The devs wanting to enrich themselves is the ONLY reason for refusing to involve a trusted escrow and let a neutral third party administer the distribution.


~BCX~

I agree. It's ashamed to see the community accepting and promoting this kind of crap. Shame.

The community isnt, the insiders manipulating the volume is.

[kalus]

It's not because the dev is from Iceland he is a rich guy able to buy enough bitcoin for 300k other Icelanders.

Where do you think the value in auroracoin comes from?

if it's from other investors, the OP is correct:  why not just have people donate bitcoins instead of an elaborate fundraising by making a 50% premined cryptocurrency that icelanders don't want?  the main reason is to make the coin creator rich from the 50% premine.  

don't have money?  print your own!

This is the basics of the creation. This works for anything.

And that's the fucked up, unsustainable way the US federal reserve, and other central banking systems operate.  just print more money when you need more is bullshit.  this is one of the flaws in the fiat money system cryptocurrencies were supposed to address.