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

[NickPortland]

I really like the idea behind Auroracoin and hope it works out. I had mined over 100 of these and recently sold on the incline, this is mainly due to my opinion that this is massively overvalued and is being pumped, this last increase I think will spike soon and we will fall WAY back down. I'm not calling this a scam or anything, just that the market is being played, and its about to drop (I think), this is the reason I sold, and hope to buy them back once it stabilizes.

At this time, Auroracoin is running on hopes and dreams, and thinking as an investor, with incoming good news about Bitcoin tomorrow, I think whoever is pumping is gonna want to switch back to Bitcoin tonight.

I'm still new to this, and this is just my opinion, so take it for what its worth.

what good news tomorrow? care to fill me in?

Nothing major, just the CEO of Blockchain.info say they have some good news to announce tomorrow, who knows what it is and what kind of an affect it could have on the price.

Where'd you hear about this?

[Kiwicon]

I think the price will past bitcoin in a few days, Chineese ppl buying too much ...

seems that wolong is in this too.. http://pastebin.com/xCTa498H

How on earth did you get this info?

[That Guy]

I really like the idea behind Auroracoin and hope it works out. I had mined over 100 of these and recently sold on the incline, this is mainly due to my opinion that this is massively overvalued and is being pumped, this last increase I think will spike soon and we will fall WAY back down. I'm not calling this a scam or anything, just that the market is being played, and its about to drop (I think), this is the reason I sold, and hope to buy them back once it stabilizes.

At this time, Auroracoin is running on hopes and dreams, and thinking as an investor, with incoming good news about Bitcoin tomorrow, I think whoever is pumping is gonna want to switch back to Bitcoin tonight.

I'm still new to this, and this is just my opinion, so take it for what its worth.

what good news tomorrow? care to fill me in?

Nothing major, just the CEO of Blockchain.info say they have some good news to announce tomorrow, who knows what it is and what kind of an affect it could have on the price.

Where'd you hear about this?

Its on their Twitter, posted about 5 hours ago.

https://twitter.com/blockchain

[NickPortland]

I really like the idea behind Auroracoin and hope it works out. I had mined over 100 of these and recently sold on the incline, this is mainly due to my opinion that this is massively overvalued and is being pumped, this last increase I think will spike soon and we will fall WAY back down. I'm not calling this a scam or anything, just that the market is being played, and its about to drop (I think), this is the reason I sold, and hope to buy them back once it stabilizes.

At this time, Auroracoin is running on hopes and dreams, and thinking as an investor, with incoming good news about Bitcoin tomorrow, I think whoever is pumping is gonna want to switch back to Bitcoin tonight.

I'm still new to this, and this is just my opinion, so take it for what its worth.

what good news tomorrow? care to fill me in?

Nothing major, just the CEO of Blockchain.info say they have some good news to announce tomorrow, who knows what it is and what kind of an affect it could have on the price.

Where'd you hear about this?

Its on their Twitter, posted about 5 hours ago.

https://twitter.com/blockchain

I don't think it's related to Mt.Gox at all.
Or you think blockchain.info took it on themselves to look for the missing btcs?

[That Guy]

I really like the idea behind Auroracoin and hope it works out. I had mined over 100 of these and recently sold on the incline, this is mainly due to my opinion that this is massively overvalued and is being pumped, this last increase I think will spike soon and we will fall WAY back down. I'm not calling this a scam or anything, just that the market is being played, and its about to drop (I think), this is the reason I sold, and hope to buy them back once it stabilizes.

At this time, Auroracoin is running on hopes and dreams, and thinking as an investor, with incoming good news about Bitcoin tomorrow, I think whoever is pumping is gonna want to switch back to Bitcoin tonight.

I'm still new to this, and this is just my opinion, so take it for what its worth.

what good news tomorrow? care to fill me in?

Nothing major, just the CEO of Blockchain.info say they have some good news to announce tomorrow, who knows what it is and what kind of an affect it could have on the price.

Where'd you hear about this?

Its on their Twitter, posted about 5 hours ago.

https://twitter.com/blockchain

I don't think it's related to Mt.Gox at all.
Or you think blockchain.info took it on themselves to look for the missing btcs?

I'm really not sure as I'm not familiar with Blockchain.info and what they are doing exactly. I'm looking at this as being an annoucement that could put a positive light back on Bitcoin after so much recent negativity.

[P2PHash]

Hi guys, I'me setting up a new p2pool
Address: aur.p2phash.com

Could some of you try to connect to it, I'd like to test what kind of load my server can handle. Since it's p2pool you won't loose any shares coming from another p2pool and local hashrate doesn't impact your earnings
Low fee: 0.5%
Location: Switzerland (EU)

[pjviitas]

Why don't people wait until after the massive sell-off to buy into this?  I think it's a great idea, it's just absolute retarded madness to be buying in prior to the airdrop.


At the current price, every single citizen of Iceland will be given $1758 worth of Auroracoin for free during the airdrop.  

There will be a massive crash in price as many Icelanders make the rational decision to immediately cash out their $1758.

Ok lets expand the hypothetical case to the world for that matter...what would happen if a new crypto-currency airdropped 0.002525 units to everyone in the world....what would happen?

[Maurizio]

I think the price will past bitcoin in a few days, Chineese ppl buying too much ...

seems that wolong is in this too.. http://pastebin.com/xCTa498H

How on earth did you get this info?

How you get this logs?

[NickPortland]

I got a technical question... generally how fast are Aurora transfer?

I was looking to transfer mine from Mintpal to Cryptsy.

So how long will it take for them to get to my wallet (i know cryptsy transfers are slow already)?


Thanks.

[DaFockBro]

Why don't people wait until after the massive sell-off to buy into this?  I think it's a great idea, it's just absolute retarded madness to be buying in prior to the airdrop.


At the current price, every single citizen of Iceland will be given $1758 worth of Auroracoin for free during the airdrop.  

There will be a massive crash in price as many Icelanders make the rational decision to immediately cash out their $1758.

Ok lets expand the hypothetical case to the world for that matter...what would happen if a new crypto-currency airdropped 0.002525 units to everyone in the world....what would happen?

There would be a massive selloff of that crypto for fiat and the price would crash in the short-term.

The airdrop is basically 10,500% inflation of the currency in one day.  This will cause the price to crash in the short term.

Right now Auroracoin is extremely scarce with only 100,000 AUR.  After the airdrop, it will will lose it's scarcity and drop in price.

[pjviitas]

Here are my predictions.

1) We have massive pumps to $100-200 per coin
2) Right before the AirDrop there is a massive sell off
3) Enterprising Icelanders get their AirDropped coins and sell as well
4) Media attention goes through the roof
5) Massive buyback, as everyone wants to get AUR at a low price
6) Even more media attention
7) Early Icelanders regret selling and learn to HODL
New Icelanders are wondering why they are missing out on this. Massive fiat dump into crypto.
9) Some level of acceptance in Iceland
10)
11) Profit for all

I agree that this will happen.  It is stupid to buy in now before the airdrop (market flooded with supply - massive selloff)

I will buy in after the airdrop/selloff occurs.

The only reason it is trading so high right now is the supply is artificially constricted.

An analogy: The price of cocaine in the US is artificially high due to the illegality of it constricting the supply.  If you gave every single person in the US an ounce of cocaine for free tomorrow, the price of cocaine would crash.

This is basic economics and logic.

Bad example dude...due to the element of addiction you would have a large part of the population that would be chasing the dragon and be willing to pay whatever the price may be for their next fix.

[Lloydie]

Here are my predictions.

1) We have massive pumps to $100-200 per coin
2) Right before the AirDrop there is a massive sell off
3) Enterprising Icelanders get their AirDropped coins and sell as well
4) Media attention goes through the roof
5) Massive buyback, as everyone wants to get AUR at a low price
6) Even more media attention
7) Early Icelanders regret selling and learn to HODL
New Icelanders are wondering why they are missing out on this. Massive fiat dump into crypto.
9) Some level of acceptance in Iceland
10)
11) Profit for all

I agree that this will happen.  It is stupid to buy in now before the airdrop (market flooded with supply - massive selloff)

I will buy in after the airdrop/selloff occurs.

The only reason it is trading so high right now is the supply is artificially constricted.

An analogy: The price of cocaine in the US is artificially high due to the illegality of it constricting the supply.  If you gave every single person in the US an ounce of cocaine for free tomorrow, the price of cocaine would crash.

This is basic economics and logic.

Bad example dude...due to the element of addiction you would have a large part of the population that would be chasing the dragon and be willing to pay whatever the price may be for their next fix.

If every single person in the country has an ounce of cocaine, cocaine would no longer be scarce and therefore drop in price.

It would be like corn, the US has a massive supply of corn, so it is extremely cheap.


The airdrop will shift the supply curve waaaayyyy to the right and the price of AUR will drop:

I've learnt to be wary of economics because there are too many assumptions.  For example:

1. Who says that all Icelanders are going to claim on day 1?
2. Who says they are going to sell on day 1?
3. I think most people will keep most of their AUR.
4. I believe there is US$7.6 Billion of trapped investment in Iceland.

Short answer is - no one knows what the airdrop is going to do the price of AUR.  But we do know that people's knowledge of cryptos will increase.

[zorkafdo]

I think the price will past bitcoin in a few days, Chineese ppl buying too much ...

seems that wolong is in this too.. http://pastebin.com/xCTa498H

How on earth did you get this info?

How you get this logs?

i was wondering how come the price was increasing like crazy. No wonder the name 'Wolong' appears again.
Will this self acclaimed 'God of Crypto' ever stop? Not trying to create any negativity, but be very careful guys; do not invest BTC's which you cant afford to loose.
I am no expert, but I've seen the name 'Wolong' in the biggest coin dumps. Peace.

[NickPortland]

I think the price will past bitcoin in a few days, Chineese ppl buying too much ...

seems that wolong is in this too.. http://pastebin.com/xCTa498H

How on earth did you get this info?

How you get this logs?

i was wondering how come the price was increasing like crazy. No wonder the name 'Wolong' appears again.
Will this self acclaimed 'God of Crypto' ever stop? Not trying to create any negativity, but be very careful guys; do not invest BTC's which you cant afford to loose.
I am no expert, but I've seen the name 'Wolong' in the biggest coin dumps. Peace.

From the pastebin chat it appears Wolong&friends are just trading the coin (one among others, they also talke about GLC), and that chat is quite old, as they were talking about a 0.05 price for AUR.

I doubt he could crash the coin if he wanted to.

He may responsible, among others, for the pump+dump s on cryptsy though.

[makishart]

P2POOL node JUST LAUNCHED!!!
no registration required!

join our node!!
http://aur.gr2pool.eu:12347/static/

located in EU

[DaFockBro]

Here are my predictions.

1) We have massive pumps to $100-200 per coin
2) Right before the AirDrop there is a massive sell off
3) Enterprising Icelanders get their AirDropped coins and sell as well
4) Media attention goes through the roof
5) Massive buyback, as everyone wants to get AUR at a low price
6) Even more media attention
7) Early Icelanders regret selling and learn to HODL
New Icelanders are wondering why they are missing out on this. Massive fiat dump into crypto.
9) Some level of acceptance in Iceland
10)
11) Profit for all

I agree that this will happen.  It is stupid to buy in now before the airdrop (market flooded with supply - massive selloff)

I will buy in after the airdrop/selloff occurs.

The only reason it is trading so high right now is the supply is artificially constricted.

An analogy: The price of cocaine in the US is artificially high due to the illegality of it constricting the supply.  If you gave every single person in the US an ounce of cocaine for free tomorrow, the price of cocaine would crash.

This is basic economics and logic.

Bad example dude...due to the element of addiction you would have a large part of the population that would be chasing the dragon and be willing to pay whatever the price may be for their next fix.

If every single person in the country has an ounce of cocaine, cocaine would no longer be scarce and therefore drop in price.

It would be like corn, the US has a massive supply of corn, so it is extremely cheap.


The airdrop will shift the supply curve waaaayyyy to the right and the price of AUR will drop:

https://i.imgur.com/vDXHAbf.png

I've learnt to be wary of economics because there are too many assumptions.  For example:

1. Who says that all Icelanders are going to claim on day 1?
2. Who says they are going to sell on day 1?
3. I think most people will keep most of their AUR.
4. I believe there is US$7.6 Billion of trapped investment in Iceland.

Short answer is - no one knows what the airdrop is going to do the price of AUR.  But we do know that people's knowledge of cryptos will increase.

They will sell on day 1 to get their FREE $1000+ worth of Bitcoin or fiat.  A rational person will know he can get more if he sells before his neighbor sells.  This will lead to a selloff.  It's basic supply and demand: massive increase in supply will decrease scarcity and drop the price.

I will buy in after the selloff because I believe in the idea.  I don't believe in buying now to inevitably get burned though.

[Mylo]

Here are my predictions.

1) We have massive pumps to $100-200 per coin
2) Right before the AirDrop there is a massive sell off
3) Enterprising Icelanders get their AirDropped coins and sell as well
4) Media attention goes through the roof
5) Massive buyback, as everyone wants to get AUR at a low price
6) Even more media attention
7) Early Icelanders regret selling and learn to HODL
New Icelanders are wondering why they are missing out on this. Massive fiat dump into crypto.
9) Some level of acceptance in Iceland
10)
11) Profit for all

I agree that this will happen.  It is stupid to buy in now before the airdrop (market flooded with supply - massive selloff)

I will buy in after the airdrop/selloff occurs.

The only reason it is trading so high right now is the supply is artificially constricted.

An analogy: The price of cocaine in the US is artificially high due to the illegality of it constricting the supply.  If you gave every single person in the US an ounce of cocaine for free tomorrow, the price of cocaine would crash.

This is basic economics and logic.

Bad example dude...due to the element of addiction you would have a large part of the population that would be chasing the dragon and be willing to pay whatever the price may be for their next fix.

If every single person in the country has an ounce of cocaine, cocaine would no longer be scarce and therefore drop in price.

It would be like corn, the US has a massive supply of corn, so it is extremely cheap.


The airdrop will shift the supply curve waaaayyyy to the right and the price of AUR will drop:

I've learnt to be wary of economics because there are too many assumptions.  For example:

1. Who says that all Icelanders are going to claim on day 1?
2. Who says they are going to sell on day 1?
3. I think most people will keep most of their AUR.
4. I believe there is US$7.6 Billion of trapped investment in Iceland.

Short answer is - no one knows what the airdrop is going to do the price of AUR.  But we do know that people's knowledge of cryptos will increase.

They will sell on day 1 to get their FREE $1000+ worth of Bitcoin or fiat.  A rational person will know he can get more if he sells before his neighbor sells.  This will lead to a selloff.  It's basic supply and demand: massive increase in supply will decrease scarcity and drop the price.

I will buy in after the selloff because I believe in the idea.  I don't believe in buying now to inevitably get burned though.

WHY you guys think there will be any 100% PURE distribution?
WHY government should give DEVELOPER their database?

WHERE developer shown any progress towards gathering anything from government officials at all?
Look at coins like ZEIT where people tend to stay in touch with "real" world, at least by intending to do so.

I see all you talking like "Yeah, every Icelander will receive 30 AURs" etc. but where any .gov site saying THERE WILL BE ANY EVENT HAPPENING?

https://www.google.com/search?q=iceland+government&tbm=nws NOTHING

EVEN if dev will distribute money among 100 closest friends/neighbours the reason of keeping other 10 MILLION + AURs stays intact:
All coins will eventually be dumped hard. And you will never know if it was a citizen dumping his 30 AURs or dev, what we will see at the end of the day will be falling numbers.

[Hellionator]

0% fee for 24 hours after next block is found at http://aur.scrypthp.com.  Also join Atomic-Trade for AUR/USD direct trading!

[naplam]

So where do we mine? I see all pools have mined 0 in the last hour, and almost all pools 0 the last 24hours. Who is finding the blocks?

mine at CrunchPool, the only p2pool node that scales:
http://p2pool.crunchpool.com:12347
We're the biggest node and still above 104%efficiency

[etoque]

Here are my predictions.

1) We have massive pumps to $100-200 per coin
2) Right before the AirDrop there is a massive sell off
3) Enterprising Icelanders get their AirDropped coins and sell as well
4) Media attention goes through the roof
5) Massive buyback, as everyone wants to get AUR at a low price
6) Even more media attention
7) Early Icelanders regret selling and learn to HODL
New Icelanders are wondering why they are missing out on this. Massive fiat dump into crypto.
9) Some level of acceptance in Iceland
10)
11) Profit for all

I agree that this will happen.  It is stupid to buy in now before the airdrop (market flooded with supply - massive selloff)

I will buy in after the airdrop/selloff occurs.

The only reason it is trading so high right now is the supply is artificially constricted.

An analogy: The price of cocaine in the US is artificially high due to the illegality of it constricting the supply.  If you gave every single person in the US an ounce of cocaine for free tomorrow, the price of cocaine would crash.

This is basic economics and logic.

Bad example dude...due to the element of addiction you would have a large part of the population that would be chasing the dragon and be willing to pay whatever the price may be for their next fix.

If every single person in the country has an ounce of cocaine, cocaine would no longer be scarce and therefore drop in price.

It would be like corn, the US has a massive supply of corn, so it is extremely cheap.


The airdrop will shift the supply curve waaaayyyy to the right and the price of AUR will drop:

I've learnt to be wary of economics because there are too many assumptions.  For example:

1. Who says that all Icelanders are going to claim on day 1?
2. Who says they are going to sell on day 1?
3. I think most people will keep most of their AUR.
4. I believe there is US$7.6 Billion of trapped investment in Iceland.

Short answer is - no one knows what the airdrop is going to do the price of AUR.  But we do know that people's knowledge of cryptos will increase.

They will sell on day 1 to get their FREE $1000+ worth of Bitcoin or fiat.  A rational person will know he can get more if he sells before his neighbor sells.  This will lead to a selloff.  It's basic supply and demand: massive increase in supply will decrease scarcity and drop the price.

I will buy in after the selloff because I believe in the idea.  I don't believe in buying now to inevitably get burned though.

WHY you guys think there will be any 100% PURE distribution?
WHY government should give DEVELOPER their database?

WHERE developer shown any progress towards gathering anything from government officials at all?
Look at coins like ZEIT where people tend to stay in touch with "real" world, at least by intending to do so.

I see all you talking like "Yeah, every Icelander will receive 30 AURs" etc. but where any .gov site saying THERE WILL BE ANY EVENT HAPPENING?

https://www.google.com/search?q=iceland+government&tbm=nws NOTHING

EVEN if dev will distribute money among 100 closest friends/neighbours the reason of keeping other 10 MILLION + AURs stays intact:
All coins will eventually be dumped hard. And you will never know if it was a citizen dumping his 30 AURs or dev, what we will see at the end of the day will be falling numbers.

Such speculation,so crystal balls

Anyways,nobody know for now.