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

[jack80]

Where download Auroracoin wallet for windows ? .

[etoque]

http://aur.easy-mine.eu/ Can't withdrawl.. hmm

[CharityMiningPools]

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[megashira1]

I don't understand.

Won't the airdrop of 10mAUR just crash the price? Currently AUR is trading for $25 with an AVAILABLE supply of what 100k?

so.. 100k /10.1m = .01

$25 x .01 = .25cents .... ?

Won't the airdrop just act as the fed printing money devalueing the current money supply?

[nunya_coin]

I don't understand.

Won't the airdrop of 10mAUR just crash the price? Currently AUR is trading for $25 with an AVAILABLE supply of what 100k?

so.. 100k /10.1m = .01

$25 x .01 = .25cents .... ?

Won't the airdrop just act as the fed printing money devalueing the current money supply?

Maybe somewhat.  They will be going to mostly crypto newbs though.  I guess it depends how many immediately sign up for an exchange and dump them.  If most get held it won't impact the trading on exchanges much.  It's a fascinating experiment, I can't wait to see how it turns out.

What do people think the airdrop claim rate needs to be to indicate success?  I'm thinking as low as 5% the first 30 days will be a positive sign it's getting traction.

[pgbit]

I don't understand.

Won't the airdrop of 10mAUR just crash the price? Currently AUR is trading for $25 with an AVAILABLE supply of what 100k?

so.. 100k /10.1m = .01

$25 x .01 = .25cents .... ?

Won't the airdrop just act as the fed printing money devalueing the current money supply?

If widespread uptake occurs in any set region, eg obviously Iceland, it could mean that websites / services accept this coin more - a lot more I would guess. This could then have the reverse effect from an expected pump and dump: a sustained positive feedback loop that would have to occur if the coin was *generally accepted*. There's a crazy chance it could gain traction. Obviously it depends on the government not banning the coin. There's a fairly balanced article on it here: http://theconversation.com/free-cash-for-iceland-but-it-pays-to-keep-cool-about-auroracoin-23061

[MyFarm]

I don't understand.

Won't the airdrop of 10mAUR just crash the price? Currently AUR is trading for $25 with an AVAILABLE supply of what 100k?

so.. 100k /10.1m = .01

$25 x .01 = .25cents .... ?

Won't the airdrop just act as the fed printing money devalueing the current money supply?

I see a lot of posts about people saying the current market cap of Auroracoin isn't real because there is less than 100,000 coins available and all of the premine isn't being taken into account.  I come from an investing background with wallstreet.  When you look at a stock, you can see two terms:

1.  Float - This is the amount of sharing available for trading.  
2.  Shares Outstanding - This is the total amount of shares a stock has.  This includes shares that are unavailable for trading for a variety of reasons.

The value of a stock is based upon the shares outstanding, NOT the float because investors and the market understand that at some point, those locked up shares will become part of the float.  If there are very few shares available in the stock, it is said to be, "Illiquid".  An illiquid stock can have wild price fluctuations when there is a lot of interest in it.

Auroracoin is illiquid.  Its', "Float" is very small (less than $100,000).  However, its marketcap which properly takes into account all of the coins (shares) outstanding, IS correct and the market is working to price in the fundamentals and risk associated with all those coins outstanding.  As the market continues to evaluate the risk and reward associated with the airdrop, the price will continue to fluctuate.

I PERSONALLY believe a successful airdrop will result in the price being much higher than it is today but that is merely my opinion.

[qwertyasdfgh]

Do we know if the government will just ban this from use in Iceland. Is there any communication at all with them to ensure this wont happen?

has the developers talked to the government to see if they will accept and adopt it? will there will be stores and businesses that will accept it? Would this actually be able to be an official currency for the Icelandic people or will this be a large handout\charitable donation to them. Also if a whale mines and buys to get a large percentage of this coin could they theoretically control the worth of the Icelandic currency if it is accepted. By dumping everything he\she would have and plummeting the price. I want this coin to succeeded so im just pointing out any problems\ my misunderstandings early on.

[mpdas108]

All these pool have a .1 transaction fee ... WTH with the current transaction rate.. That is just robbery.. why cant the pool operator see this and lower their fee.. with 6mh/s of power I can only mine about 3 AUR per day but the difficulty is increasing, so that already 3% in transaction fees alone.. what to speak of if my back-up pool has only .08 AUR in it...

[Honeypot]

I need to question the wisdom of declaring something a 'national crypto currency' when there are so many ways it WILL go wrong.

From fraud, identity theft, to various issues with the 'distribution' plan itself, this coin just seems too ambitious for its own good. No matter how much you trumpet the technology behind the crypto currency, we know it can be made vulnerable technically. Not to mention, people may not directly attack the technology for a time being, but DEFINITELY can control or influence those that distribute, trade or own them (human beings).

You are trying to deposit a new currency into a population of an entire country, and you don't even reveal your own identity, or offer up some kind of assurance as to who you are, what you do, etc?

What is the guarantee that this 'airdrop' will actually happen? What if you are simply baiting people into hyping up this coin?

Right now, the coin is valued close to 0.05 btc per AUR. The 'hard fork' is 2-3 weeks away. Iceland's entire GDP is a little over 12 billion USD. are you telling me you are prepared to throw in over 3% of a country's yearly GDP in the form of a relatively young and untested technology and expect little to no serious complications in this 'plan'?

This isn't anything near launching a pretty new coin. It's a whole different game, and your 'plan' sounds flimsy at best as of this moment. Why would any nation 'adopt' a currency of a whole new technology that has proven vulnerable in the past, without any oversight or regulation, as the basis of their economy even by 1%?

Best you can hope for is this coin being valued at 10% of what it is now, which is what the base price was before the hype.

That is, if you are even going through with this ridiculously ambitious plan with little else other than your overly simplistic words. You left out about 1000000 other variables as to why this could not even take off, or go very VERY wrong.

Unless you come forward to reveal who you are, or provide some kind of much MUCH more detailed ideas that address extreme number of variables and problems concerning this idea, there is little to identify this coin from a pump and dump that uses the 'potential' of 'adoption by financially troubled nation' to fill your own pockets.

Answer the numerous concerns listed on this thread. Starting with addressing how this coin could possibly hold a big stake when 99% of the mining power will be off the country.

If you are trying to take advantage of supposed 'bitcoin-friendly and tired-of-fiat-country wants to jump on a logo with nothing else to back it up', and not even bothering to introduce a gravity well in the beginning of the coin, I see all the red flags of a hyped up dump scam with (in joe schmuck public eye) seemingly elaborate plan that 'backs up' your hype - another huge red flag.

Right now, it's either looking like an extremely cheeky scam, or just a very delusional and over-reaching (that's putting it mildly) attempt at some kind of crypto revolution by a lone boy behind a computer. Neither inspires any kind of confidence to replace or even chip at a fiat of a relatively small nation state.

[MyFarm]

Do we know if the government will just ban this from use in Iceland. Is there any communication at all with them to ensure this wont happen?

At current prices, each citizen of Iceland will receive $760 worth of Auroracoin.  I suspect that if a politician tried to ban it, they would find themselves rather unpopular VERY quickly.

[Lloydie]

All these pool have a .1 transaction fee ... WTH with the current transaction rate.. That is just robbery.. why cant the pool operator see this and lower their fee.. with 6mh/s of power I can only mine about 3 AUR per day but the difficulty is increasing, so that already 3% in transaction fees alone.. what to speak of if my back-up pool has only .08 AUR in it...

Use P2pool. Choose node from here: http://aurp2pool.no-ip.org:8084/

[speedhash.eu]

All these pool have a .1 transaction fee ... WTH with the current transaction rate.. That is just robbery.. why cant the pool operator see this and lower their fee.. with 6mh/s of power I can only mine about 3 AUR per day but the difficulty is increasing, so that already 3% in transaction fees alone.. what to speak of if my back-up pool has only .08 AUR in it...

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[mpdas108]

All these pool have a .1 transaction fee ... WTH with the current transaction rate.. That is just robbery.. why cant the pool operator see this and lower their fee.. with 6mh/s of power I can only mine about 3 AUR per day but the difficulty is increasing, so that already 3% in transaction fees alone.. what to speak of if my back-up pool has only .08 AUR in it...

Use P2pool. Choose node from here: http://aurp2pool.no-ip.org:8084/

Yeah but I don't want to hold this coin.. hence I don't want to spend 8 hours downloading the blockchain for a wallet.. no thanks..

[NutMasterTardd]

I need to question the wisdom of declaring something a 'national crypto currency' when there are so many ways it WILL go wrong.

From fraud, identity theft, to various issues with the 'distribution' plan itself, this coin just seems too ambitious for its own good. No matter how much you trumpet the technology behind the crypto currency, we know it can be made vulnerable technically. Not to mention, people may not directly attack the technology for a time being, but DEFINITELY can control or influence those that distribute, trade or own them (human beings).

You are trying to deposit a new currency into a population of an entire country, and you don't even reveal your own identity, or offer up some kind of assurance as to who you are, what you do, etc?

What is the guarantee that this 'airdrop' will actually happen? What if you are simply baiting people into hyping up this coin?

Right now, the coin is valued close to 0.05 btc per AUR. The 'hard fork' is 2-3 weeks away. Iceland's entire GDP is a little over 12 billion USD. are you telling me you are prepared to throw in over 3% of a country's yearly GDP in the form of a relatively young and untested technology and expect little to no serious complications in this 'plan'?

This isn't anything near launching a pretty new coin. It's a whole different game, and your 'plan' sounds flimsy at best as of this moment. Why would any nation 'adopt' a currency of a whole new technology that has proven vulnerable in the past, without any oversight or regulation, as the basis of their economy even by 1%?

Best you can hope for is this coin being valued at 10% of what it is now, which is what the base price was before the hype.

That is, if you are even going through with this ridiculously ambitious plan with little else other than your overly simplistic words. You left out about 1000000 other variables as to why this could not even take off, or go very VERY wrong.

Unless you come forward to reveal who you are, or provide some kind of much MUCH more detailed ideas that address extreme number of variables and problems concerning this idea, there is little to identify this coin from a pump and dump that uses the 'potential' of 'adoption by financially troubled nation' to fill your own pockets.

Answer the numerous concerns listed on this thread. Starting with addressing how this coin could possibly hold a big stake when 99% of the mining power will be off the country.

If you are trying to take advantage of supposed 'bitcoin-friendly and tired-of-fiat-country wants to jump on a logo with nothing else to back it up', and not even bothering to introduce a gravity well in the beginning of the coin, I see all the red flags of a hyped up dump scam with (in joe schmuck public eye) seemingly elaborate plan that 'backs up' your hype - another huge red flag.

Right now, it's either looking like an extremely cheeky scam, or just a very delusional and over-reaching (that's putting it mildly) attempt at some kind of crypto revolution by a lone boy behind a computer. Neither inspires any kind of confidence to replace or even chip at a fiat of a relatively small nation state.

Huge risk but if it works it would be the biggest thing since cryptos, I agree with a lot of your points but there are even more variables than anybody can contemplate. Right now this is just an experiment, I hope it works though because it would be good for cryptos in general.

[megashira1]

Do we know if the government will just ban this from use in Iceland. Is there any communication at all with them to ensure this wont happen?

At current prices, each citizen of Iceland will receive $760 worth of Auroracoin.  I suspect that if a politician tried to ban it, they would find themselves rather unpopular VERY quickly.

Since when did dictators need popularity?

[ghettopools]

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[mpdas108]

Is it just me or does it seem that all the pools are getting periodically DDoS'd ... wth

[Lloydie]

All these pool have a .1 transaction fee ... WTH with the current transaction rate.. That is just robbery.. why cant the pool operator see this and lower their fee.. with 6mh/s of power I can only mine about 3 AUR per day but the difficulty is increasing, so that already 3% in transaction fees alone.. what to speak of if my back-up pool has only .08 AUR in it...

Use P2pool. Choose node from here: http://aurp2pool.no-ip.org:8084/

Yeah but I don't want to hold this coin.. hence I don't want to spend 8 hours downloading the blockchain for a wallet.. no thanks..

Won't take you more than 8 minutes to download wallet and chain. Or enter address from your favourite exchange.

[scutzi128]

How do you track your stats on crunchpool?