- AURORACOIN -

[X1235]

58% up in a day? Doesn't seem like a natural growth.

[1714132100]

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[LTEX]

58% up in a day? Doesn't seem like a natural growth.

Well, I know there are some people that wanted to buy some AUR. Since the sell book is rather thin, that made the price go up relatively fast.  But given the fact we have not released any news yet, I get your conclusion.

We are however working hard to get some pretty good stuff released soon, at which point such growth would me more natural indeed.

[solid12345]

58% up in a day? Doesn't seem like a natural growth.

I'd guess it's because the Pirate Party is poised to win elections and they are pro-crypto.

[CECVW]

58% up in a day? Doesn't seem like a natural growth.

I'd guess it's because the Pirate Party is poised to win elections and they are pro-crypto.

I hope that is the case

[LTEX]

I'd guess it's because the Pirate Party is poised to win elections and they are pro-crypto.

I hope that is the case

If that looks interesting, maybe you want to (long) read this as well:

http://motherboard.vice.com/read/the-new-currency-at-the-end-of-the-world

[Crypto Girl]

i'd really love to buy those feminine coins

[Trukkur]

58% up in a day? Doesn't seem like a natural growth.

Well, I know there are some people that wanted to buy some AUR. Since the sell book is rather thin, that made the price go up relatively fast.  But given the fact we have not released any news yet, I get your conclusion.

We are however working hard to get some pretty good stuff released soon, at which point such growth would me more natural indeed.

The AUR bag holders are really patient. Not many have been selling atleast on isx.is and this coin is still really under valued in my opinion So now I'm a happy bag holder

[HomoHenning]

58% up in a day? Doesn't seem like a natural growth.

Well, I know there are some people that wanted to buy some AUR. Since the sell book is rather thin, that made the price go up relatively fast.  But given the fact we have not released any news yet, I get your conclusion.

We are however working hard to get some pretty good stuff released soon, at which point such growth would me more natural indeed.

The AUR bag holders are really patient. Not many have been selling atleast on isx.is and this coin is still really under valued in my opinion So now I'm a happy bag holder

I think its is a explosive combination of technical outbreak and fundamental (election). This coin has so much potential now

And Media Attention now:

https://cointelegraph.com/news/icelands-pirate-party-could-win-parliamentary-elections-benefiting-bitcoin-auroracoin-adoption

[god.aur]

When discussing supply, demand and valuation, please bear in mind the relative size of the ISK and AUR economies:

Starting with the AUR
14.0m  in existence, subtracting the
  5.3m  burned, subtracting the
  1.0m  Aurarad foundation M1 fund, subtracting the
  2.0m  coins lost (guess), we arrive at a net estimated
  5.7m  total M3 supply of AUR.

Now, 5.7m AUR times the current price of 320b gives a market capitalisation of about BTC 1830 ≈ ISK 26m ≈ $226k, which again equals about 0.0012% of the current Icelandic GDP and 0.0015% of the ISK M3.

If you assume 10% of the above AUR M3 amount is in fact liquid M2 (i.e. AUR 570,000), the AUR economy currently constitutes about 0.00015% (1/65,000th) of the Icelandic economy.

If evenly distributed among a population of 330,000 this amounts to about ISK 80 per person ≈ $0.70 ≈ €0.65. You can’t buy anything for that in Iceland, in fact it’s far closer to the price of an empty paper cup than one filled with coffee.

For AUR to become successful as a currency, its valuation simply needs to increase a hundredfold over the next few years just to become 0.2-0.1% of the ISK economy (factoring in a growing proportion of M2/M3). This amounts to each person transacting ISK 8000 ≈ $70 ≈ €65 worth of AUR per year. Any smaller, and you’re not really talking about much of an AUR economy at all.

It is therefore little wonder that the supply book is thin at the current prices while the Aurarad Foundation is working hard to provide the tools and regulatory transparency for the AUR economy to thrive. With solid infrastructure, adoption will be able to follow over the next several years. It simply does not work the other way around.

[adamastor]

I created a bunch of Facebook groups for auroracoin.

One of them has become popular but most of the adverts are unverifiable. https://m.facebook.com/groups/1147092555315805?ref=bookmarks

Feel free to post adverts for goods and services in exchange for auroracoin.

[HomoHenning]

When discussing supply, demand and valuation, please bear in mind the relative size of the ISK and AUR economies:

Starting with the AUR
14.0m  in existence, subtracting the
  5.3m  burned, subtracting the
  1.0m  Aurarad foundation M1 fund, subtracting the
  2.0m  coins lost (guess), we arrive at a net estimated
  5.7m  total M3 supply of AUR.

Now, 5.7m AUR times the current price of 320b gives a market capitalisation of about BTC 1830 ≈ ISK 26m ≈ $226k, which again equals about 0.0012% of the current Icelandic GDP and 0.0015% of the ISK M3.

If you assume 10% of the above AUR M3 amount is in fact liquid M2 (i.e. AUR 570,000), the AUR economy currently constitutes about 0.00015% (1/65,000th) of the Icelandic economy.

If evenly distributed among a population of 330,000 this amounts to about ISK 80 per person ≈ $0.70 ≈ €0.65. You can’t buy anything for that in Iceland, in fact it’s far closer to the price of an empty paper cup than one filled with coffee.

For AUR to become successful as a currency, its valuation simply needs to increase a hundredfold over the next few years just to become 0.2-0.1% of the ISK economy (factoring in a growing proportion of M2/M3). This amounts to each person transacting ISK 8000 ≈ $70 ≈ €65 worth of AUR per year. Any smaller, and you’re not really talking about much of an AUR economy at all.

It is therefore little wonder that the supply book is thin at the current prices while the Aurarad Foundation is working hard to provide the tools and regulatory transparency for the AUR economy to thrive. With solid infrastructure, adoption will be able to follow over the next several years. It simply does not work the other way around.

Good post

yes, interesting calculation showing this coins huge financial potential.
besides that there are greats things happening in icelands which will perhaps lead to an example of a true decentralized money system without corrupt banks and institutions.
Iceland may be a small country but could be THE innovator of the 21st century

[RJF19]

Any news or updates this month? 

Well, some good news for everyone in this corrupt world, Iceland does what all other countries refuse:

I admire you guys from afar, that is excellent news!

[solid12345]

Not to rain on the parade but no bankers in Iceland are spending decades in prison, most are spending 3-5 years max, it's when you combine the sentences in total of them all they add up to "decades" which is really deceptive. Also Iceland doesn't exactly have harsh prisons either compared to America.

[leigh2k14]

Not to rain on the parade but no bankers in Iceland are spending decades in prison, most are spending 3-5 years max, it's when you combine the sentences in total of them all they add up to "decades" which is really deceptive. Also Iceland doesn't exactly have harsh prisons either compared to America.

3 to 5 years is still sets a good president, now all we have to do is arrest the western central banking families, Rothschilds, Roccafella's and the like and jail them, we'd end poverty and stop all wars. 

[molecular]

Not to rain on the parade but no bankers in Iceland are spending decades in prison, most are spending 3-5 years max, it's when you combine the sentences in total of them all they add up to "decades" which is really deceptive. Also Iceland doesn't exactly have harsh prisons either compared to America.

3 to 5 years is still sets a good president, now all we have to do is arrest the western central banking families, Rothschilds, Roccafella's and the like and jail them, we'd end poverty and stop all wars. 

I don't like the "arrest and jail" part. Let's just make the foundation of their wealth disappear. We can do it: make bitcoin big! It's not going to end poverty and stop all wars, but it'll make wars much harder to sell and give the "poor" a more level playing field. At least that's what I believe.

[leigh2k14]

Someone took a 77K dump all over trex's buy wall.

[leigh2k14]

Not to rain on the parade but no bankers in Iceland are spending decades in prison, most are spending 3-5 years max, it's when you combine the sentences in total of them all they add up to "decades" which is really deceptive. Also Iceland doesn't exactly have harsh prisons either compared to America.

3 to 5 years is still sets a good president, now all we have to do is arrest the western central banking families, Rothschilds, Roccafella's and the like and jail them, we'd end poverty and stop all wars. 

I don't like the "arrest and jail" part. Let's just make the foundation of their wealth disappear. We can do it: make bitcoin big! It's not going to end poverty and stop all wars, but it'll make wars much harder to sell and give the "poor" a more level playing field. At least that's what I believe.

Once you realise that these big banking families control our governments and fund both sides of wars, including WW1 and WW2, it makes sense to say arresting and jailing them would end poverty and wars, hell, it's would at the every least make the world more peaceful and equal.

I'm a firm believer that crypto will help us achieve "a more level playing field" too, but we also have to stand together as one race and say "enough is enough". Until that time I’m afraid it's business as usual.

[RJF19]

Someone took a 77K dump all over trex's buy wall.

Question for you: I've been invested in AUR for some time and just added another round to the wallet. I originally bought in shortly after the initial release because I liked the concept. I know there is no "crystal ball" but, what do you see happening this weekend and where do you see Auroracoin in the future?

[adamastor]

Someone took a 77K dump all over trex's buy wall.

Question for you: I've been invested in AUR for some time and just added another round to the wallet. I originally bought in shortly after the initial release because I liked the concept. I know there is no "crystal ball" but, what do you see happening this weekend and where do you see Auroracoin in the future?

It's what you make it of it.

Mathematically that supply book is gonna get thinner and thinner while your local fiat is gna be in a coffin awaiting burial.

The maths donot need you but you can use a few mathematical truths to your advantage.

AuroracoiN is a tool to be used. Trade it, make it, say it and flay it to those around you and at the very least start using it as amedium for saving.

[Trukkur]

Someone took a 77K dump all over trex's buy wall.

that was a interesting dump. He/She will regret this soon