AURORACOIN - Empowering Financial Freedom

[BauldersGate]

My one worker can build OSX wallet for 10 000 AUR or 2.6 btc

2.6? I always outsource mac wallet creation and have
never paid above 0.1. I don't think auroracoin is that challenging
technically.

AUR is basic as it get. No challenge but for this dev team it challenge.

Who will pump coin over 30k again? That was nice price.  

My concerned behind the AUR latest pump saved my BTC.

How much BTC profit you make?

Simple. No Loss No Gain. Didn't invested. Someone knowledgably person of Crypto told me one sentence. "Don't invest when it's pump phase".
Studied little history and I saw last movement of AUR; when it reached moon. Old people (team) left with hefty profits. There isn't much left in AUR to make profit anymore.

What makes me think is first when the AUR project was recalled, they said it was for Icelander people, and then plans changed to convince political parties and looking forward for coming elections in Iceland. I don't know.

A little bit of hype doesn't do any harm as long as foreigners believe it as they don't know what is going on in Iceland , so you can say streets is paved with gold and price will be pumped on cryptsy. The AUR/ISK exchange won't last long because bitcoin is illegal in Iceland because it's easy to get money out (exchange controls). For that brief moment the ISK exchange is up before the foundation owners get ass raped in prison is the time to sell.

[1714001256]

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[dinobotta]

Simple. No Loss No Gain. Didn't invested. Someone knowledgably person of Crypto told me one sentence. "Don't invest when it's pump phase".
Studied little history and I saw last movement of AUR; when it reached moon. Old people (team) left with hefty profits. There isn't much left in AUR to make profit anymore.

What makes me think is first when the AUR project was recalled, they said it was for Icelander people, and then plans changed to convince political parties and looking forward for coming elections in Iceland. I don't know.

Good advice not to invest in a pump phase.

If you are interested in buying some Auroracoin spread your buying, that way you never buy all your coins at peak price.

Last big price move was not a normal pump, it is/was based on fundementals. The price moved because the founding father of Auroracoin, Baldur, closed the airdrop on time, then burned the premine about a month later, https://bitinfocharts.com/auroracoin/address/AURburnAURburnAURburnAURburn7eS4Rf.

There was no "old people (team) leaving with hefty profits". To my knowledge Baldur was the only dev and founder that started Auroracoin. Since he had stated that he wanted others to take his place, a new dev team has been forming in the last 4-6 months. After the airdrop ended and burning of the premine, the new dev team is planing to release new wallets and update most of the core code of Auroracoin.

I think most of the profit potential for Auroracoin is right now. There is an ISK/AUR exchange opening soon, the Auroracoin foundation has been established, http://aurarad.is/ , which will do the PR work for Auroracoin, new wallets for Win, Mac, Linux, Android and iPhone will come out when the new dev team is ready to release them.

There are no plans to convince any political parties to support Auroracoin!

[soltantgris]

If you guys traders expect fake hype, you will be disapointed, this is by no mean the plan - and ever will.  There will be swings, so opportunity for traders, but I'm pretty sure it would be appreciated that you keep these discussions at the minimum - so we can focus here on developement, ideas, news and so on.  It's not a moderated thread - and it's cool - but it is sometime difficult to create a positive and productive environnement when few people take all the place with price and trading discussions.  

May I suggest to create another thread ''trading oriented'' ?  I've been a daytrader myself - and enjoyed it a lot !

Thanks supporting us.

[Danslip]

My one worker can build OSX wallet for 10 000 AUR or 2.6 btc, he already compile code. The coins will go to my worker and not me so he can be invest in AUR and help future OSX builds.

So update code with latest changes and he build OSX wallet for you.

Thanks for your offer KenChanYu, but we have things under control. I said it before, we don't need someone to compile OSX wallet for us, we can do this ourselves. We just want to resolve some old issues that you still find with Litecoin wallets as well as our first priority is to setup a base with clean and decent code. I would say our skill level regarding OSX is 75%, which is better than most DEV groups I think. It's the 25% skill we lack that needs assistance. We now have support from a specialist, so I think we're good for now.

Again, If we want we can roll out all wallets right now, but we are committed to producing a good foundation first! From there on you can expect faster and more frequent updates!

When can we expect first update that OSX compile not issue? OSX is no different from what other wallet does when you compile ,litecoin code is not specific for different OS , ,so help me understand what issue is.

*shakes head* LTEX you make no sense.

[TheSignsGuy]

If you guys traders expect fake hype, you will be disapointed, this is by no mean the plan - and ever will.  There will be swings, so opportunity for traders, but I'm pretty sure it would be appreciated that you keep these discussions at the minimum - so we can focus here on developement, ideas, news and so on.  It's not a moderated thread - and it's cool - but it is sometime difficult to create a positive and productive environnement when few people take all the place with price and trading discussions.  

May I suggest to create another thread ''trading oriented'' ?  I've been a daytrader myself - and enjoyed it a lot !

Thanks supporting us.

A trading oriented thread created by those interested in that aspect sounds like a good idea.

In regard to the new wallet.... a good, clean, solid core, when it is ready, sounds like a great place to start.

[BioMike]

What makes me think is first when the AUR project was recalled, they said it was for Icelander people, and then plans changed to convince political parties and looking forward for coming elections in Iceland. I don't know.

That was not said by the foundation, or dev team, but people speculating on the coin. Get your facts straight.

[soltantgris]

What makes me think is first when the AUR project was recalled, they said it was for Icelander people, and then plans changed to convince political parties and looking forward for coming elections in Iceland. I don't know.

That was not said by the foundation, or dev team, but people speculating on the coin. Get your facts straight.

It is sometime difficult to separate sources - and I know that most people in crypto think a lot of false things about AUR.  I can't wait to have Pétur - Hlynur doing the RockStar around - putting the facts straight as you say.  I now know the whole story - but even if we write it here - only fews will see - and most will have hard time wondering if it's the ''true'' story or not - and I don't blame them - altcoin scene has been mostly unethical practices from inception, people (me the first) are nervous.

Btw man thank you for this thread (FOR TRADERS!) : http://auroraspjall.is/viewtopic.php?f=13&t=232&p=960#p960

[baldur odinson]

Hey guys, I'm crowd funding an events company and am asking for your support. Check out my website www.thestartparty.co.za
And pm me if you would like to donate to my project on www.startjoin.com/party

[LTEX]

Hey guys, I'm crowd funding an events company and am asking for your support. Check out my website www.thestartparty.co.za
And pm me if you would like to donate to my project on www.startjoin.com/party

More of this and less talk is needed for AUR. I am done with trying to get my point across so I am going to let it go and give you people a chance to prove to your investors that we made the right choice. I will sell at 75k as promised so you need to make the coin worth that much. Follow this persons example and make it work.

Care to elaborate how you think throwing a party in South Africa is going to get AUR up to 75K? You want me to organize a party in The Netherlands as well? I think we'd better stick with building a solid base with good core code and local (Icelandic) campaigns.... But don't you worry, you will be able to sell your AUR for 75K eventually, just not because we quickly hype the coin to that level for you....

[soltantgris]

The only ''party'' I would like to get is one in Iceland with you guys - alongside a serie of meeting-conference, and for witch we would pay with AUR.  I can see this happening in 1-2 years (but i'll visit iceland before for sure, my wife and kids want it real bad).  For the AUR party in iceland, I'll bring some local beer - we are getting pretty good at it lately !

[BauldersGate]

I just want to say thanks to those traders for preventing the coin dumping under 21000 sat, look like some traders were dumping hard today but I expect pump soon.

[baldur odinson]

Hey guys, I'm crowd funding an events company and am asking for your support. Check out my website www.thestartparty.co.za
And pm me if you would like to donate to my project on www.startjoin.com/party

More of this and less talk is needed for AUR. I am done with trying to get my point across so I am going to let it go and give you people a chance to prove to your investors that we made the right choice. I will sell at 75k as promised so you need to make the coin worth that much. Follow this persons example and make it work.

Care to elaborate how you think throwing a party in South Africa is going to get AUR up to 75K? You want me to organize a party in The Netherlands as well? I think we'd better stick with building a solid base with good core code and local (Icelandic) campaigns.... But don't you worry, you will be able to sell your AUR for 75K eventually, just not because we quickly hype the coin to that level for you....

The business model of this project can be implemented in Iceland. Auroracoins most amazing asset is its acceptance by young people in Iceland, teenagers especially.

The business model for the start party is aimed at employing young people to plan and host profitable events.

If the auroracoin foundation sponsored such an initiative in Iceland they would win the support of everyone between the ages of 12 and 45 in Iceland.

[BritcoinFTW]

Well cheerio mates, my time with AUR is done. Best wishes to all those that continue with this project, keep your heads held up high and don't let any of these scammers bring you down. Peace brothers!

[molecular]

May I suggest to create another thread ''trading oriented'' ?  I've been a daytrader myself - and enjoyed it a lot !

I saw the other one on Auroracoin forum, but btctalk is more accessible to me, so I made:

[AUR] Auroracoin market observer

[ny2cafuse]

May I suggest to create another thread ''trading oriented'' ?  I've been a daytrader myself - and enjoyed it a lot !

I saw the other one on Auroracoin forum, but btctalk is more accessible to me, so I made:

[AUR] Auroracoin market observer

I'll ask the team to add this to the OP.

Thanks, mate!

-Fuse

[DropsOfJupiter]

Just read this analysis of the legality of Auroracoin and Bitcoin in Iceland by Dr. Peter Roudik of the Global Legal Research Center : http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205404097_text

If I am reading this right, Auroracoin is not recognized and cannot be used in payment of goods or services in Iceland. At all. It can't also be traded on exchanges based outside of Iceland or with non-Icelandic clients, since the Icelandic krona cannot leave the country (as per the Icelandic Foreign Exchange Act). I think the devs have very limited options with Auroracoin, and one wrong statement or move could see them breaking Icelandic laws.

So what is the end game, here? Surely this is all not a matter of speculation?

[soltantgris]

Just read this analysis of the legality of Auroracoin and Bitcoin in Iceland by Dr. Peter Roudik of the Global Legal Research Center : http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205404097_text

If I am reading this right, Auroracoin is not recognized and cannot be used in payment of goods or services in Iceland. At all. It can't also be traded on exchanges based outside of Iceland or with non-Icelandic clients, since the Icelandic krona cannot leave the country (as per the Icelandic Foreign Exchange Act). I think the devs have very limited options with Auroracoin, and one wrong statement or move could see them breaking Icelandic laws.

So what is the end game, here? Surely this is all not a matter of speculation?

Very good question - and I asked in the skype group to Pétur-Hermann-Hlynur from the Fondation (each time it remind me Isaac Asimov):

[19:46:26] Hermann Finnbjörnsson: we sent 3 formal letters from our laywer to all goverment agencies here that handle finace about the exhange and everybody replied in the same mater "The existing laws do not provide for potential involvement of The Central Bank of Iceland, the operations of the kind described in your inquiry"
[19:47:11] Hermann Finnbjörnsson: we have the letters and would not be doing what we are doing without the knowledge we could proceed

[20:33:48] Hlynur Þór Björnsson: We sent formal letters to the Central Bank and the Financial Supervisory Authority in Iceland. Both sent us replies warning of the risk of crypto but saying there are no laws that perhibit doing business in crypto. The FSA also confirmed that we don't need a money transmitter license for an exchange or for buying and selling crypto for customers.

[dinobotta]

Just read this analysis of the legality of Auroracoin and Bitcoin in Iceland by Dr. Peter Roudik of the Global Legal Research Center : http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205404097_text

If I am reading this right, Auroracoin is not recognized and cannot be used in payment of goods or services in Iceland. At all. It can't also be traded on exchanges based outside of Iceland or with non-Icelandic clients, since the Icelandic krona cannot leave the country (as per the Icelandic Foreign Exchange Act). I think the devs have very limited options with Auroracoin, and one wrong statement or move could see them breaking Icelandic laws.

So what is the end game, here? Surely this is all not a matter of speculation?

It is perfectly legal in Iceland to pay for goods and services with other things than ISK, as long as you pay VAT and all other taxes. For hundreds of years barter has been the the way Icelanders did business.

We sent formal letters from our lawyer to the Central Bank and the Financial Supervisory Authority in Iceland regarding opening a business in Iceland trading Auroracoin/Bitcoin, operating a brokerage business for crypto, buying and selling Auroracoin/Bitcoin in Iceland on behalf of customers. Both the CB and the FSA sent us formal replies warning of the risk of crypto but saying that there are no laws that prohibit doing such business in Iceland. The FSA also confirmed that we don't need a money transmitter license for these kinds of businesses.

Auroracoin and Bitcoin are not seen as "currency" by the Icelandic government, since they are not issued by a foreign state and are not issued as debt by the issuer. Therefore laws such a the Icelandic Foreign Exchange Act do not apply.

This is also the reason we are opening an ISK/AUR exchange located in Iceland, where there will be no FX trade, just ISK and crypto.

[Skarfur]

Just read this analysis of the legality of Auroracoin and Bitcoin in Iceland by Dr. Peter Roudik of the Global Legal Research Center : http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205404097_text

If I am reading this right, Auroracoin is not recognised and cannot be used in payment of goods or services in Iceland. At all. It can't also be traded on exchanges based outside of Iceland or with non-Icelandic clients, since the Icelandic krona cannot leave the country (as per the Icelandic Foreign Exchange Act). I think the devs have very limited options with Auroracoin, and one wrong statement or move could see them breaking Icelandic laws.

So what is the end game, here? Surely this is all not a matter of speculation?

This is just not correct. Either based on false information or misinterpretation of facts.

Cryptocurrencies are not by any means illegal in Iceland nor is there any restrictions to use it to trade goods and services. We are setting up an exchange here in Iceland where Icelandic people can buy and sell Auroracoin for ISK. Before we went ahead with that we had our lawyers send out official letters to The Central Bank of Iceland, The Financial Supervisory Authority and the Directorate of Internal Revenue (IRS). Each gave us an official reply back stating what we already knew as I have talked to them directly before but this was to make it official.

What it stated:
They don't consider cryptocurrencies to be a legal currency as that requires that a consumer must be able to have a claim to an central issuer of a currency according to laws nr.120/2011.
Current laws of Iceland do not protect consumers for possible loss of cryptocurrencies in case an exchange that holds consumers cryptocurrencies fails their duty or in case a payment goes into the wrong hands.

Now the part that is the source of all the misinterpretation and misunderstanding.
Icelandic laws do not require that any special permission needs to be given from the central bank for trade with cryptocurrencies. However the central bank states that when it comes to currency trade the central bank has their role according to laws nr. 87/1992 and that applies to cryptocurrencies like anything else. It is the central banks view that there is no authorisation to buy foreign currency of an financial institution in Iceland nor to move foreign currency out of the country in regards to business with cryptocurrencies.

Current laws do not assume any other possible intervention of the central bank for the type of business that you describe in your request other than what is stated in this letter.


We got the same answers from the other institutes all pointing towards a joint statement they did at the time of Auroracoins initial release. That statement holds pretty much the same as the official letters we got back from them.

The Financial Supervisory Authority
http://www.fme.is/utgefid-efni/frettir-og-tilkynningar/frettir/nr/2041

The Central Bank of Iceland
http://www.sedlabanki.is/utgefid-efni/frettir-og-tilkynningar/frettasafn/frett/2014/03/19/Advorun-til-almennings-um-syndarfe-e.-virtual-currencies/
http://www.sedlabanki.is/utgefid-efni/frettir-og-tilkynningar/frettasafn/frett/2014/03/19/Notkun-syndarfjar-getur-fylgt-mikil-ahaetta/

Directorate of Internal Revenue
http://www.fme.is/utgefid-efni/frettir-og-tilkynningar/frettir/nr/2041

Ministry of the Interior
http://www.innanrikisraduneyti.is/frettir/nr/28881

Ministry of Finance and Economic Affairs
http://www.fjarmalaraduneyti.is/frettir/nr/17813

So what this translates to is that there are no restrictions for people in Iceland to buy, own or trade cryptocurrencies. It only states that we do not get an exception from the currency restrictions and buy foreign currency for the purpose to buy cryptocurrency. Meaning that it applies to cryptocurrencies like anything else here in Iceland.

All these links to laws and articles are in Icelandic but for those of you not speaking Icelandic I would think Google translate should give accurate enough information.

[soltantgris]

I knew it was an interesting question !

Thanks guys.

https://imgflip.com/i/lsbtz