CryptoMF
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March 04, 2014, 04:24:50 AM |
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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.
Don't forget that their will be a corresponding spike in Bitcoin sales as they can only cash out their Aurora coins to BTC currently. In order to get $$ they have to then sell their BTC on an exchange. Not saying that all of them will but there will be a trickle down effect. Something to think about. At the current exchange rate (0.1 BTC) that would equal 1 MILLION BTC if all 10 million Auroracoins are exchanged for BTC and then cashed out. Imagine if you can what this will do to the price of BTC. It will go into freefall as there are not enough buyers in the market to absorb that many sales. As I don't want to see this poorly thought-out and designed promotion crash Bitcoin, I seriously hope the exchange rate tanks to a miniscule amount before the airdrop. And why the fuck do the people of Iceland get to be handed for free thousands of dollars in crypto coins each that if all cashed out quickly could seriously damage the exchange markets for all cryptocurrencies? Not hating on any Icelanders at all. I just seriously doubt that they give a rats ass about the health of Bitcoin or any other coin and just want the $$. Aurora coin is useless to them otherwise at the moment. They can't buy anything with it and most will likely fear the government will quickly ban it and will want to get what they can before that happens. Hopefully I am not the only one who actually thinks this whole thing through to likely conclusion. Go ahead and tell me otherwise. I am sure I will hear from someone that this isn't true and I don't understand economics or free markets or some bullshit. I will tell you what I damn sure understand and that is human greed and how it can totally blind someone to the real facts and potential outcomes of their actions. That's assuming the whole population of Iceland will all immediately claim it. I'm not sure how the airdrop works. But they probably have to claim it individually, yes? I doubt the selling would happen in one single swipe. More likely in waves. So in the first week only 1,000 might claim the coins. then maybe word gets out to more Icelanders about the free money and a few more thousand claim it each week. It might have an effect on the bitcoin market, but I doubt it alone will cause the bitcoin market to go into freefall. After the first 1000 claim their coins and cash out there won't be any buy support left on the exchanges anyway and the coin will be basically worthless. |
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sidhujag
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March 04, 2014, 04:29:08 AM |
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its only dangerous if there are whales stupid enough to support the dumpage.. that would be bitcoin bearish... else actually positive and bitcoin will flourish on he news without getting dumped win win!
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nrg_wolf
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March 04, 2014, 04:38:13 AM |
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is http://aur3.easy-mine.eu/ working? been mining for the better part of 2.5 hours now and not a single payment has been recieved. thier method is PROP. |
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CryptoMF
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March 04, 2014, 04:39:44 AM |
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its only dangerous if there are whales stupid enough to support the dumpage.. that would be bitcoin bearish... else actually positive and bitcoin will flourish on he news without getting dumped win win!
Not sure exactly what you are trying to say. Can you please clarify. |
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NickPortland
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March 04, 2014, 04:45:43 AM |
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is http://aur3.easy-mine.eu/ working? been mining for the better part of 2.5 hours now and not a single payment has been recieved. thier method is PROP. I noticed it resets the round % to an earlier one every so often. I think the pool is working but dashboard is off.. |
Official Ambassador for UTC-PND relations
*donations here*
UTC: Ujff1xrc8brmHkRaFG3BcG5nVScXdh5Wu1 BTC: 159uuxJCfUsG44N52NUsydi2bCNeFSYyTi
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Nthused
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March 04, 2014, 04:47:30 AM |
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Just point Your Rig to www.Multipool.us , Payouts Confirmed. |
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nrg_wolf
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March 04, 2014, 04:55:51 AM |
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6k difficulty, not worth pointing my 3.1mh's towards it. way way way to high
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klatnioctib0
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March 04, 2014, 05:01:52 AM |
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6k difficulty, not worth pointing my 3.1mh's towards it. way way way to high
What are you going to mine then? 3.1mhs = .25 AUR/day .25 of 70USD = 17.50$ .13 KW/h*24 = $3.12 and this coin has more upside than atm this coin has possibility for more gains. |
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NickPortland
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March 04, 2014, 05:03:37 AM |
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6k difficulty, not worth pointing my 3.1mh's towards it. way way way to high
What are you going to mine then? 3.1mhs = .25 AUR/day .25 of 70USD = 17.50$ .13 KW/h*24 = $3.12 and this coin has more upside than atm this coin has possibility for more gains. Isn't it "1.3 KW/h*24" though? |
Official Ambassador for UTC-PND relations
*donations here*
UTC: Ujff1xrc8brmHkRaFG3BcG5nVScXdh5Wu1 BTC: 159uuxJCfUsG44N52NUsydi2bCNeFSYyTi
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klatnioctib0
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March 04, 2014, 05:08:53 AM |
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6k difficulty, not worth pointing my 3.1mh's towards it. way way way to high
What are you going to mine then? 3.1mhs = .25 AUR/day .25 of 70USD = 17.50$ .13 KW/h*24 = $3.12 and this coin has more upside than atm this coin has possibility for more gains. Isn't it "1.3 KW/h*24" though? i'm just assuming power usage is 1000watts or 1 kw @ 13 cents kw/h.. I have same setup .. |
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turtoro
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March 04, 2014, 05:11:09 AM |
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The market cap of Auroracoin now exceeds the value of all Icelandic Krona in circulation
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nrg_wolf
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March 04, 2014, 05:13:59 AM |
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6k difficulty, not worth pointing my 3.1mh's towards it. way way way to high
What are you going to mine then? 3.1mhs = .25 AUR/day .25 of 70USD = 17.50$ .13 KW/h*24 = $3.12 and this coin has more upside than atm this coin has possibility for more gains. Isn't it "1.3 KW/h*24" though? i'm just assuming power usage is 1000watts or 1 kw @ 13 cents kw/h.. I have same setup .. x2 280x volatge locked, 2 7950's modded and one 6950.... all adds up power wise. and in australia i believe we are paying about 3.2 cent's per kw. not 100% on that but i know its a large amount per kw. so everything has to count bigtime. and considering my bad run with coins as of late, eg leaf, karma, panda, pnd coinye sat, all haveing next to no value, i gotta make something up soon to cover costs. |
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fcode
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March 04, 2014, 05:15:28 AM |
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I wish exchanges would offer the ability to short
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CryptoMF
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March 04, 2014, 05:32:27 AM |
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The market cap of Auroracoin now exceeds the value of all Icelandic Krona in circulation
Amended to reflect reality: The market cap of all Auroracoin in circulation does not now exceed the value of all Icelandic Krona in circulation |
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Lloydie
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March 04, 2014, 05:33:48 AM |
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The market cap of Auroracoin now exceeds the value of all Icelandic Krona in circulation
Not if you use M1 |
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eizh
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March 04, 2014, 05:35:29 AM |
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I wish exchanges would offer the ability to short
Exactly my thoughts. I would short this with 100% confidence. The economic illiteracy present here is breathtaking. Solid entertainment.  |
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stealth923
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March 04, 2014, 05:35:53 AM |
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I am very interested to see what happens once the first wave of people "cash" in on the airdrop, sell their coins and completely wipe out buy walls and this coin falls to worthless in 1 second....which might even happen before the airdrop occurs.
look on the exchanges, where is the buy support for this coin???, there's like max of 10-15btc worth on each exchange....unless a whale supports the buys but that would be suicide...
imo this will have negative light on crypto's as news reports will be saying "cryptos are volatile once again.. stay away...600 million to worthless in a day".....great...and all we have left is bag holders again.
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Apostle4444
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March 04, 2014, 05:37:14 AM |
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mineabit please check the mail server. I want to unlock, to fill in the payment addres.
no mail received thx
Please PM me your username and i will check if it is locked (i have manually unlocked every single locked account yesterday). Also check your email in case it was sent to the spam folder. I am really not sure why you are having so many problems as most miners on the pool seems to be able to set their payment address and withdraw coins. Hello Mineabit, Is the pool down, or is it just me? http://aur.pool.mineabit.com/Thanks! Yep its down and they have my AURORA's eeek. |
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Korporal
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March 04, 2014, 05:44:31 AM
Last edit: March 04, 2014, 05:57:53 AM by Korporal |
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What the hell?
Mined all day at liberty-miners.com. They "paid out" .01ish of AUR to me but nothing showed up on the blockchain or my wallet.
WTF?
Anyone else here have this problem?
My AUR address is: AWKoPLFWmkrre2H6iyhftb6Prh5kbk4pkG
EDIT: Took several hours, but I see an incoming transaction now. Weird it takes so long...
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searkt
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March 04, 2014, 05:46:46 AM |
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this is going to be the 2nd biggest scam news of Q1 2014
The sad thing is, these 'tards don't realize they're just helping to contribute to the black eye of cryptos, ever since mt.gox and the other string of large scale scams. Hope you guys thought it was worth bringing down the market and potential new investors to the btc and alt game, all for a few quick bucks. agree with you absolutely! |
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