[ANN][AUR] Auroracoin - a cryptocurrency for Iceland

[mineabit]

Hi All,

quick update for those who were mining on mineabit.

The pool was subject to a ddos attack over the last couple of days which ment fixing the email issues was more complicated than expected.

Email notifications for password resets and account settings are now working again.

As the pool had no fees and was entirely relying on miners donations to survive I have no other choice but to pull the plug.

For transparency let me point out that the total amount of AUR donated to the pool is 1.758 AUR.

Minimun auto payout has been set to 0.0001 AUR
Minimum manual payout has been set to 0.0001 AUR
TX fee set to 0.000001 AUR

The stratum server will remain off.

The size of the DDOS attacks make it impossible to run a pool on such small income given the disruption caused and the amount of work hours used for such.

I consider this a very sad issue for the cryptourrencies in general but there is always a bad apple in every tree.

Some limited themselves at filling my inbox with insults, others were capable of reading and others were understanding of the situation.

Should anyone wish to donate to keep the pool alive please use this address: AN8df2mQTJNGfBMdTV7bq8XBeFqvcmxm6Q

For those who have funds pending withdrawal please proceed to do so and those waiting for the last block found by the pool do not worry, I will wait until that has confirmed.

My best wishes of a successful airdrop!

[1715604457]

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[1715604457]

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[1715604457]

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[giveBTCpls]

Can anyone tell me what the fuck is going no with Cryptsy? I only see a smal portion of the orders on the lists. For example, I have sell orders at 0.14 ready for when it goes up again soon, but it's not showing on the list, I only see a small range of orders going from

0.06433430   0.01199700   0.00077182

to

0.06999000   0.00058370   0.00004085

where are the higher ones?

[giveBTCpls]

It very simple, sell HIGH and buy LOW

Btw,i don't sell under .125

same over here. let's take a look how far we can go. 

This. Selling under 0.125 = feeding the whales cheap coins. When will these morons learn.
It's interesting that Cryptsy is not showing the complete list of orders.

[flobdeth]

Why do you all doubt Icelands acceptance of anything?

1) http://dealbook.nytimes.com/2013/12/23/morning-agenda-the-bitcoin-mines-of-iceland/ OLD NEWS but bitcoin booms there!

2) http://en.wikipedia.org/wiki/Legality_of_Bitcoins_by_country Quote: " Iceland   No   Due to the capital controls put in place in 2008 to stop money flight on the króna, buying and selling Bitcoin in Iceland, which appears to consider Bitcoin as a foreign currency, is Illegal. The Icelandic Central Bank confirmed that "it is prohibited to engage in foreign exchange trading with the electronic currency Bitcoin, according to the Icelandic Foreign Exchange Act",[19] however commentators suggest bitcoins mined within Iceland could be freely traded."

Meaning, that a NATIONAL crypto currency is not illegal to trade within it's own borders, dependant on merchant acceptance......... ?

[Bunkervogel]

It very simple, sell HIGH and buy LOW

Btw,i don't sell under .125

same over here. let's take a look how far we can go. 

This. Selling under 0.125 = feeding the whales cheap coins. When will these morons learn.
It's interesting that Cryptsy is not showing the complete list of orders.

+1

I was scrolling and scrolling but no chance to see the complete list of orders. It would be very interesting to see where the whales are 'parking'.

[NickPortland]

I also find interesting than lots of AUR sceptics are on the MAZA bandwagon... yea, cuz that's surely going to go swell instead!

[axmatic]

Here's a tip for all the miners who keep dumping your shit on the market:

If you really like to sell at lower prices, keep doing that. If you prefer to sell at higher prices, then take it easy on the sell side, and spread your orders out a little bit.

It wouldn't kill you to participate in the trading a little bit, either.

Except miners don't have faith in the coin (which is understandable) and rather cash in now than gamble on the future.
Right now the coin can't even process transactions within a reasonable timeframe and the developers are MIA.

Besides, miners can't even dump right now because the developers forgot to implement KGW.

Yet, for some reason, they continue to mine it. As long as they're gonna do that, they might as well try to get as much out of it as they can. Even if one doesn't expect it to do well in the future, it's still in his best interest to sell wisely now. Dropping a bunch of coins for sale at one price decreases the price right now, and delays the sale of those same coins that he's trying to sell. As much as one might like for it to be otherwise, everyone cannot sell at the same time. It's impossible, because the buyers don't all show up at the same time. There is enough hype about this coin to keep the price high between now and March 25. After that, mayhem. But until then, keep cool, don't panic, sell like you know what you're doing.

Don't blame the miners, at least the small miners not joined in auto-profit switching pools. The smaller miners are the ones keeping the coin alive with the highest operating costs and can't afford much speculation. Blame the auto-profit-switching pools for dumping their coins all at once and of course the pure speculators hopping from one coin to the other, bailing out when profit margins get to low.

I'm not blaming anyone. I just happen to know that people who acquire coin by mining are not vested at some particular price, and because of this will typically sell with less regard for the sale price than someone who acquired their coin by paying some amount of some other coin. This applies to all miners. People who are trading do stupid things too. They sometimes panic and dump all their coins on the market because they think it's gonna crash. Their fears are not unjustified either because coins do crash. But, with this one, we have this looming hype over March 25th that gives us all something of a buffer of comfort.

Profit Switching:

If a coin follows its block target, profit mining can't affect the price any more than any other kind of mining, because blocks are still found at the same rate. It hurts other miners because it suddenly drives up the hash rate and, in turn, the difficulty, which, if the difficulty is slow to adjust down, actually slows the rate of coin production after they've switched to another coin, leaving the remaining miners with the same hash rate they had before and a higher difficulty, which, if the difficulty is set to adjust after some number of blocks, will take a lot longer to return to the lower value than it took to raise it.

[niothor]

I also find interesting than lots of AUR sceptics are on the MAZA bandwagon... yea, cuz that's surely going to go swell instead!

It the usual:
earthcoin  worldcoin
doge moon
panda panda =)))

When two coins share a bit of their target base or some other similarities or are launched at the same time the trolling begins.

[lunas]

Man, there is a heap of delusion here, by people who don't understand basic math, apparently. What do you suppose would happen to the buying power of the US dollar, if all of the other countries that hold it unceremoniously dropped it on the US economy? It would plummet, because there would be such an overabundance of supply. Right now the available supply of Auroracoin is tiny, compared to what has been mined. When that pre-mined coin enters circulation, it is INEVITABLE that the value will tank, as that value gets divided amongst all of the coin in circulation.

There are going to be a lot of tears among those who thought that somehow this coin's launch would catapult it to Bitcoin pricing levels. I have actually read people claiming that. Unreal.

The people posting this stuff are trying to warn you. Do not be holding the bag on this. make your profit and get out.

It's not bad enough that the coin barely functions and has zero supporting infrastructure (not even a mobile wallet), it had to have a cult form behind it, too.

a mobile wallet is in development and i believe slated to be released around the fork or air drop date. i fully expect it to tank on the 23-25 but is it going to skyrocket again before then if yes ill probably cash out the 20th on an upside the difficulty is dropping like a rock at 4700 now was 7800 soon 2500 maybe 1000 then back where it should be.

[GrimDemon]

New pool is here!

http://aur.styx.net.pl

[laterbreh]

Pools stuck again on the current block?

[gc84]

Exchange Aurora to Doge On https://coins2themoon.com/

[giveBTCpls]

Look at these fucking morons feeding the whales cheap AUR

[ghur]

Look at these fucking morons feeding the whales cheap AUR

We get it, you bought in too high.
You can stop spamming now.

[Jollyburner]

this thread... 

[etoque]

this thread...  

Yeah ?

[cloudminers]

I just upgraded the pool with new SSD's, we are accepting new registrations.

http://aur.cloudminers.net

[axmatic]

This is the kind of thing I'm talking about. Look at this guy:

http://www.picamatic.com/show/2010/04/15/09/33/10190555_bigthumb.jpg

The only reason the sell price is as low as it is right now is because people have been doing this all day. He put his big, ugly order in at .066 instead of .07 or so because there's another order in his way. See that order right below his, the one for a whopping .0066 BTC? I guess he thinks that little order is gonna stop him from selling at .07. At the amount he's selling, the difference between .066 and .07 is about 150 bucks. And if he didn't put the whole damn thing down in the same place, he could get a lot more than that, and in the same amount of time, perhaps even less.

What do you think most people are gonna do when they see his order, there? Do you think they're gonna buy some of it? Why would they? They know damn good and well that they won't be able to sell any of it until all of his coins are gone. The only thing anyone can do, if they want to enter the market at this point, with less than 4 BTC, is to buy lower, which means they need to put a buy order in, which is exactly what most people will do is what most people will do because they want to trade, not buy his shit coin at whatever price he happens to think he has to have it at.

So, what do you think happens next? Trading resumes at a lower price. Here's the situation a few minutes later:

http://www.picamatic.com/show/2010/04/15/09/54/10190659_bigthumb.jpg

Notice that his entire order is still sitting there and trading has not stopped. It hasn't even slowed down, but simply continued at a lower price.

http://www.picamatic.com/show/2010/04/15/10/00/10190660_bigthumb.jpg

Had he bothered to look at the situation before he posted his huge, ugly order like a clumsy, dumb fucking idiot, he would have seen that people were buying at the higher price before he blocked any further price increase with that stupid order.

http://www.picamatic.com/show/2010/04/15/09/33/10190556_bigthumb.jpg

11 of the previous idiot's coins had just sold at .073..., but, of course, as you would expect, most of the trading was taking place at prices below that of the big dumb, chunky sell order.

Here's the LAW:

If you post a huge sell order at the current price, the price WILL drop to less than that of your huge order.

[Predseda4D]

@axmatic: Congratulation that you have found what everyone know - AUR is controlled by whales.  
BTW, he is not idiot but smart. 

[KeyserSozeMC]

It was fun

Earned 2BTC on those pumps