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

[molecular]

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.

Thanks for you opinion and especially for your insights and explaining some things to the newbs like me.

Can you explain why have a feeling the airdrop will result in a price increase?

In my mind it all depends on reception and use of the currency by the people of Iceland and of course also perception of and speculation on those factors in the future.

I can imagine some savvy Icelanders (bitcoiners) helping their friends and family and others claim their AUR and buy them off them below BTC/AUR market prices. This in turn would probably increase awareness (maybe it would be good if the coins could be claimed (only?) using the android wallet being developed, that way people claiming the coins would have a wallet and figure they might just keep some coins and use them to trade with friends or whatever).

[Croak]

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.

Thanks for you opinion and especially for your insights and explaining some things to the newbs like me.

Can you explain why have a feeling the airdrop will result in a price increase?

In my mind it all depends on reception and use of the currency by the people of Iceland and of course also perception of and speculation on those factors in the future.

I can imagine some savvy Icelanders (bitcoiners) helping their friends and family and others claim their AUR and buy them off them below BTC/AUR market prices. This in turn would probably increase awareness (maybe it would be good if the coins could be claimed (only?) using the android wallet being developed, that way people claiming the coins would have a wallet and figure they might just keep some coins and use them to trade with friends or whatever).

Do you know what a huge percentage of the population of Iceland did before the shit hit the fan in 2008?  They traded, they worked the markets hard, and they made a lot of money doing it (credit issues aside).  As a country, they understand this sort of thing better than most of the rest of the world.  And they're not starving or even hardscrabbling, their overall standard of living is quite good, so many won't feel the need to dump their airdrop to pay this month's rent or feed the kids.  They'd probably rather grow it.  Should be interesting to see what happens.

[Honeypot]

People do realize that the entire yearly GDP of Iceland is around 12.5 billion USD right?

People realize that this coin is being propagated, no matter how indirectly, as a 'currency replacer' of a NATION STATE by someone who doesn't even come forward with his identity, right?

People do realize that right now the entire BITCOIN market is around 7 billion USD....right?

In other words....Aurora is going to casually 'add' about 3% of its entire GDP (at current prices) over a period of 4 months (supposedly) to a nation state comprising of 340,000 people. About 300 million USD.

Based on a 50% premine that the dev supposedly holds secure, without slowly cashing it out over time, and no one knows who he is. A premine he will supposedly generously distribute for free to the population of the entire nation.



What the hell is wrong with this picture?

[speedhash.eu]

We just got a question from one of our Miners why is the balance still 0.

Well - the answer is that the total Auroracoin net hashrate is ~ 10 GH/s and each block of 25 AUR is found every 10 minutes. So it takes time to find a block and divide it among Miners. We are a new AUR pool, started only few hours ago but we already have 75 MH/s+ pool hashrate. It still takes a lot of hours to find a block.

On the other hand one block of 25 AUR is worth ~ 1 BTC, so once the block is found, it is very valuable

Join us and help us find our first block
http://aur.speedhash.eu

[CharityMiningPools]

We just got a question from one of our Miners why is the balance still 0.

Well - the answer is that the total Auroracoin net hashrate is ~ 10 GH/s and each block of 25 AUR is found every 10 minutes. So it takes time to find a block and divide it among Miners. We are a new AUR pool, started only few hours ago but we already have 75 MH/s+ pool hashrate. It still takes a lot of hours to find a block.

On the other hand one block of 25 AUR is worth ~ 1 BTC, so once the block is found, it is very valuable

Join us and help us find our first block
http://aur.speedhash.eu

Well said sir!

[molecular]

wow, traffic (and number of visitors) on http://blockexplorer.auroracoin.eu is soaring.



Thanks for the generous donation, btw!

[hammer1]

People do realize that the entire yearly GDP of Iceland is around 12.5 billion USD right?

People realize that this coin is being propagated, no matter how indirectly, as a 'currency replacer' of a NATION STATE by someone who doesn't even come forward with his identity, right?

People do realize that right now the entire BITCOIN market is around 7 billion USD....right?

In other words....Aurora is going to casually 'add' about 3% of its entire GDP (at current prices) over a period of 4 months (supposedly) to a nation state comprising of 340,000 people. About 300 million USD.

Based on a 50% premine that the dev supposedly holds secure, without slowly cashing it out over time, and no one knows who he is. A premine he will supposedly generously distribute for free to the population of the entire nation.



What the hell is wrong with this picture?

SHHHH, stop asking rational questions. lol.

[esotericizm]

http://aur.ctrlaltdefeated.us open for registration

[etoque]

UPDATE thread #1 PLS many more pool

[Nite69]

are there any news on the android wallet development ?

Under development..
https://github.com/Nite69/Auroracoin-android-wallet

It's quite stable, but needs some improvements. Feel free to checkout and compile yourself. Since it is not ready, don't send too much coins into it..

Shortly: Wallet is quite stable, blockchain loads, you can send money to your wallet.
Short ToDo: Add KGW, Fix fee calculation, add correct exchange rate sites, improve peer discovery, translations, details..

See more at http://forum.auroracoin.org/

[speedhash.eu]

People do realize that the entire yearly GDP of Iceland is around 12.5 billion USD right?

People realize that this coin is being propagated, no matter how indirectly, as a 'currency replacer' of a NATION STATE by someone who doesn't even come forward with his identity, right?

People do realize that right now the entire BITCOIN market is around 7 billion USD....right?

In other words....Aurora is going to casually 'add' about 3% of its entire GDP (at current prices) over a period of 4 months (supposedly) to a nation state comprising of 340,000 people. About 300 million USD.

Based on a 50% premine that the dev supposedly holds secure, without slowly cashing it out over time, and no one knows who he is. A premine he will supposedly generously distribute for free to the population of the entire nation.

What the hell is wrong with this picture?

Very good analysis

AUR is down to ~ 0.03 BTC from todays top 0.045 BTC.

[serje]

People do realize that the entire yearly GDP of Iceland is around 12.5 billion USD right?

People realize that this coin is being propagated, no matter how indirectly, as a 'currency replacer' of a NATION STATE by someone who doesn't even come forward with his identity, right?

People do realize that right now the entire BITCOIN market is around 7 billion USD....right?

In other words....Aurora is going to casually 'add' about 3% of its entire GDP (at current prices) over a period of 4 months (supposedly) to a nation state comprising of 340,000 people. About 300 million USD.

Based on a 50% premine that the dev supposedly holds secure, without slowly cashing it out over time, and no one knows who he is. A premine he will supposedly generously distribute for free to the population of the entire nation.



What the hell is wrong with this picture?

SHHHH, stop asking rational questions. lol.

Tanking in consideration the success this might have if he reveals his identity he might be in danger!
So I don't mind trusting a person I don't know!
As far as it concerns me he can even vanish like Satoshi after the airdrop!

I just hope he keeps his word and does it!

[Honeypot]

People do realize that the entire yearly GDP of Iceland is around 12.5 billion USD right?

People realize that this coin is being propagated, no matter how indirectly, as a 'currency replacer' of a NATION STATE by someone who doesn't even come forward with his identity, right?

People do realize that right now the entire BITCOIN market is around 7 billion USD....right?

In other words....Aurora is going to casually 'add' about 3% of its entire GDP (at current prices) over a period of 4 months (supposedly) to a nation state comprising of 340,000 people. About 300 million USD.

Based on a 50% premine that the dev supposedly holds secure, without slowly cashing it out over time, and no one knows who he is. A premine he will supposedly generously distribute for free to the population of the entire nation.



What the hell is wrong with this picture?

SHHHH, stop asking rational questions. lol.

Tanking in consideration the success this might have if he reveals his identity he might be in danger!
So I don't mind trusting a person I don't know!
As far as it concerns me he can even vanish like Satoshi after the airdrop!

I just hope he keeps his word and does it!

Because the major investors and even some alt coin devs are 'at risk'. There are more than few coins out there where devs are open with their identities, as well as setting up companies and businesses in crypto while not hiding behind a computer.

Last time I checked, BigVern was alive and well.

I believe the OP is either VERY delusional and grossly incompetent and overreaching, or is just outright scamming.

[flipstyle]

The idea sounds great, but and an OP with 32 posts holding 50 million coins saying don't worry I'll make sure everyone in the country gets some.

This is going to be the biggest dev heist in altcoin history.  Suckers born every day, but to think that you guys are actually falling for an 'anonymous' country distribution charity scheme is....absolutely beyond me.

He's sitting on over $6x million dollars free and clear thanks to you tards.

[NutMasterTardd]

The idea sounds great, but and an OP with 32 posts holding 50 million coins saying don't worry I'll make sure everyone in the country gets some.

This is going to be the biggest dev heist in altcoin history.  Suckers born every day, but to think that you guys are actually falling for an 'anonymous' country distribution charity scheme is....absolutely beyond me.

He's sitting on over $6x million dollars free and clear thanks to you tards.

You really think he'll get that 10m onto an exchange before everybody panic sells and the price drops to 0 because he moved it? lol

[solid12345]

This is going to be the biggest dev heist in altcoin history.  Suckers born every day, but to think that you guys are actually falling for an 'anonymous' country distribution charity scheme is....absolutely beyond me.

He's sitting on over $6x million dollars free and clear thanks to you tards.

Let's be honest, there is absolutely no better reason for Satoshi to remain anonymous either, he could just as much drop a million coins for sale out of the blue too.

[esotericizm]

The idea sounds great, but and an OP with 32 posts holding 50 million coins saying don't worry I'll make sure everyone in the country gets some.

This is going to be the biggest dev heist in altcoin history.  Suckers born every day, but to think that you guys are actually falling for an 'anonymous' country distribution charity scheme is....absolutely beyond me.

He's sitting on over $6x million dollars free and clear thanks to you tards.

Yep cos the community won't notice 50 million coins hitting the market..

[flipstyle]

The idea sounds great, but and an OP with 32 posts holding 50 million coins saying don't worry I'll make sure everyone in the country gets some.

This is going to be the biggest dev heist in altcoin history.  Suckers born every day, but to think that you guys are actually falling for an 'anonymous' country distribution charity scheme is....absolutely beyond me.

He's sitting on over $6x million dollars free and clear thanks to you tards.

You really think he'll get that 10m onto an exchange before everybody panic sells and the price drops to 0 because he moved it? lol

Who's to say he's dumping it all at once?

This is purely a 'blind sheeple' experiment where he's asking a bunch of lemmings to put faith into an anonymous investor honeypot all on the hopes a faceless guy on the internet has all intentions of being a philanthropic saint.

AHAHAHAHAA. Man, the investors/miners in the alt industry never cease to amaze me.  No wonder scams from mt gox on down are so damn successful.  You guys will believe absolutely anything.



brb making Zombobewecoin, cuz you know...I just wanna help 'em out.

[Honeypot]

The idea sounds great, but and an OP with 32 posts holding 50 million coins saying don't worry I'll make sure everyone in the country gets some.

This is going to be the biggest dev heist in altcoin history.  Suckers born every day, but to think that you guys are actually falling for an 'anonymous' country distribution charity scheme is....absolutely beyond me.

He's sitting on over $6x million dollars free and clear thanks to you tards.

You really think he'll get that 10m onto an exchange before everybody panic sells and the price drops to 0 because he moved it? lol

Micro selling. What exactly did he pay relative to potential profits in terms of gathering those 10.5 million coins?

He can micro sell them for 0.00005 each in small amounts every day since it came out and still come out with more then enough money to cover a down payment for another house.

All for relatively very small amount of time.

Dev at least must answer some really realistic questions about this coin. What accountability is there that this will happen as he says?  

[serje]

You really think he'll get that 10m onto an exchange before everybody panic sells and the price drops to 0 because he moved it? lol

I'm sure that he is more afraid of us to move the coins! because I think he know that he he moves 1 AUR everyone will panic sell!

I'm pretty sure that by now there are a few geeks that are monitoring all the addresses he made public and at his first try to move a coin every pool will stop mining so his transaction won't get  processed and panic sell will begin!