4. The end of auroracoin
Iceland is famous for aggressively prosecuting its bankers for their role in the financial meltdown of 2007/2008. So when auroracoin was announced in February, a cryptocurrency designed to be a national currency for Iceland, the stars seemed to have aligned perfectly.
Just months later, auroracoin is dead and all the hype dead with it.
What does that have to do with bitcoin. Out of interest, what actually happened to it?
Think it was the icelanders that claimed the coins dumped it all as fast as they could and the miners didn't want to do anything with it so the coin just died off.
Edit In:
Was below the picture
The currency was ‘airdropped’ to Iceland’s citizens in late March, with 31.8 auroracoin allocated to each citizen who had registered. The few that claimed their coins are thought to have immediately sold them off and the price of the coin never recovered after plummeting on its first day in circulation.
Auroracoin’s fatal blow came from the insecurity of the network – there was little incentive for miners to maintain the network and process the few transactions made with the coin. As a result it was vulnerable to attack from anyone with a modest amount of computing power at their disposal.
