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

[NickPortland]

I think the reason aur went up so much recently, is because there aren't that many coins available.

What is there? about 106,000 coins that are being bought and sold now?

And aurcoin has a totally different approach to marketing the coin with the giveaway, so people are

speculating. It might go up alot, but there is only 106,000 coins so it doesn't really make sense for it to go down
much right now.

You can see at the graph at cryptsy that aurcoin is now at a low point and I wonder if its ready to go back up now?

The price went up like a rocket mainly because of manipulation, coupled with slim supply.

So now that you-know-who has snatched up thousands of AUR at low prices.....

[Nite69]

How is market cap calculated?

Price x Number of coins in circulation

Current Auroracoin market cap:

.05225 BTC/AUR x 103,851 AUR = 5426 BTC

WRONG!
"Market Capacity
the potential volume of sale of goods and services"


Definitely in inlcudes also those coin which are not in curculation.

[Nite69]

How is market cap calculated?

Price x Number of coins in circulation

Current Auroracoin market cap:

.05225 BTC/AUR x 103,851 AUR = 5426 BTC

So basically what your saying is that when the airdrop happens the market cap will be approximately:

.05225 BTC/AUR x 10,500,000 AUR = 548625 BTC

That's a lot of Bitcoin.

No, what I'm saying is that even if the market cap increases from the current 5426 BTC to 20,000 BTC after the airdrop, we're still looking at a massive price drop


current market cap:

.05225 BTC/AUR x 103,851 AUR = 5426 BTC


4x increase in market cap, given airdrop is successful:

.001885014 BTC/AUR x 10,610,000 AUR = 20,000 BTC


4x increase in market cap, assuming only 10% of Icelanders claim their free money:

.016515277 BTC/AUR x 1,211,000 AUR = 20,000 BTC


No matter how you look at it, there will be a massive drop in price once the airdrop starts (and also prior to it as investors anticipate the drop)

Nobody wants to be left holding the bag when the best case scenario is the price dropping down to ~.02 BTC/AUR

You would be definitely right, if these coins would be dropped to a single entity which would be willing only to sell.

However, these 10M coins are shared among 330000 ppl, so the price will be dependent on the proportion of the ppl willing to sell vs ppl willing to buy and what price both groups want. Anything can happen. You *might* be right. But you also might be wrong.

[tatterz]

Auroracoin added to Coinedup!

[SeriousCoins14]

Picturing fat guy with carpal tunnel from that WoW South Park episode sitting at his computer for 36 hours straight spamming 0.015 Aura buys and sells non stop

[Nite69]

It has taken a few days for investors to realize that they need to dump their AUR now to avoid the crash when the supply quickly inflates by 100x starting on March 25th.

We know excatly what is going to the supply, but we really don't know what happens to the demand..

[DaFockBro]

It has taken a few days for investors to realize that they need to dump their AUR now to avoid the crash when the supply quickly inflates by 100x starting on March 25th.

We know excatly what is going to the supply, but we really don't know what happens to the demand..

It is very unlikely that demand will increase by 100x to combat the 100x increase in supply.

Icelanders will catch word of the free ~$500 and immediately go to cash out as the price drops.

[Nite69]

It has taken a few days for investors to realize that they need to dump their AUR now to avoid the crash when the supply quickly inflates by 100x starting on March 25th.

We know excatly what is going to the supply, but we really don't know what happens to the demand..

It is very unlikely that demand will increase by 100x to combat the 100x increase in supply.

Icelanders will catch word of the free ~$500 and immediately go to cash out as the price drops.

Wy not? The userbase is also over 100x after airdrop?

[DaFockBro]

It has taken a few days for investors to realize that they need to dump their AUR now to avoid the crash when the supply quickly inflates by 100x starting on March 25th.

We know excatly what is going to the supply, but we really don't know what happens to the demand..

It is very unlikely that demand will increase by 100x to combat the 100x increase in supply.

Icelanders will catch word of the free ~$500 and immediately go to cash out as the price drops.

Wy not? The userbase is also over 100x after airdrop?

All the new "users" will be selling to get their free money before their neighbor is able to sell and get their free money.  It will be an epic selloff the likes of which crypto has never seen.

[NickPortland]

It has taken a few days for investors to realize that they need to dump their AUR now to avoid the crash when the supply quickly inflates by 100x starting on March 25th.

We know excatly what is going to the supply, but we really don't know what happens to the demand..

It is very unlikely that demand will increase by 100x to combat the 100x increase in supply.

Icelanders will catch word of the free ~$500 and immediately go to cash out as the price drops.

Wy not? The userbase is also over 100x after airdrop?

All the new "users" will be selling to get their free money before their neighbor is able to sell and get their free money.  It will be an epic selloff the likes of which crypto has never seen.

Jesus, this is your 50th post about this.

Give it up guy, repeating the same thing over and over is nothing but trolling.

"noobs" can read past 100+ pages about the issue already.


Have fun with your MAZA.

[Nite69]

It has taken a few days for investors to realize that they need to dump their AUR now to avoid the crash when the supply quickly inflates by 100x starting on March 25th.

We know excatly what is going to the supply, but we really don't know what happens to the demand..

It is very unlikely that demand will increase by 100x to combat the 100x increase in supply.

Icelanders will catch word of the free ~$500 and immediately go to cash out as the price drops.

Wy not? The userbase is also over 100x after airdrop?

All the new "users" will be selling to get their free money before their neighbor is able to sell and get their free money.  It will be an epic selloff the likes of which crypto has never seen.

That really is one possible scenarion, but you seem to be quite sure about what is going to happen. Are you from Iceland and have you experienced the same what they have? (Edit: I must admit that I would be quite sure about that also, *if* this coin were announced in the US or most of the word.)

[mek300]

It has taken a few days for investors to realize that they need to dump their AUR now to avoid the crash when the supply quickly inflates by 100x starting on March 25th.

We know excatly what is going to the supply, but we really don't know what happens to the demand..

It is very unlikely that demand will increase by 100x to combat the 100x increase in supply.

Icelanders will catch word of the free ~$500 and immediately go to cash out as the price drops.

Wy not? The userbase is also over 100x after airdrop?

All the new "users" will be selling to get their free money before their neighbor is able to sell and get their free money.  It will be an epic selloff the likes of which crypto has never seen.

If the country is India, Nigeria, Mexico; true. Iceland, I am not sure. No offense to any countries, just the education level of the country sometimes dictates the behavior.

[mami]

The calculations are based on market cap predictions.  The price per coin changes based on the market cap and the amount of coins in circulation.

He's right - there will be a massive yet steady change in the "money supply", also known as monetary inflation...

However, if you read the coin site you'd know that Icelandic currency has devalued 96% in the past 20 years...

The author claims that it's illegal to hold currency other than Iceland crowns...

Auroracoin could well be a way to SHIFT money in and out of the country...

Think about it...

Once those bits start flying from anyone with a payment system...

[Nite69]

If the country is India, Nigeria, Mexico; true. Iceland, I am not sure. No offense to any countries, just the education level of the country sometimes dictates the behavior.

Yes, the education/ development level in Iceland is hight, but nevertheless they have had major financial problems. That's what makes this so ineteresting.

Edit: I mean: 1) Highly developed country, good finance -> No way to success 2) Low development country, poor -> No way to success 3) Hig dev, poor economy -> hmm.. maybe...

[crocko]

It has taken a few days for investors to realize that they need to dump their AUR now to avoid the crash when the supply quickly inflates by 100x starting on March 25th.

We know excatly what is going to the supply, but we really don't know what happens to the demand..

It is very unlikely that demand will increase by 100x to combat the 100x increase in supply.

Icelanders will catch word of the free ~$500 and immediately go to cash out as the price drops.

Wy not? The userbase is also over 100x after airdrop?

All the new "users" will be selling to get their free money before their neighbor is able to sell and get their free money.  It will be an epic selloff the likes of which crypto has never seen.

Jesus, this is your 50th post about this.

Give it up guy, repeating the same thing over and over is nothing but trolling.

"noobs" can read past 100+ pages about the issue already.


Have fun with your MAZA.

+1
@DaFockBro are you a bot ?

I saw you on the night time, I saw you on the day time, always spewing the same [...]

[benthach]

TO THE MOON!!!! oh wait, just another get rich quick scam coin.

[JulianSS]

It has taken a few days for investors to realize that they need to dump their AUR now to avoid the crash when the supply quickly inflates by 100x starting on March 25th.

We know excatly what is going to the supply, but we really don't know what happens to the demand..

It is very unlikely that demand will increase by 100x to combat the 100x increase in supply.

Icelanders will catch word of the free ~$500 and immediately go to cash out as the price drops.

Wy not? The userbase is also over 100x after airdrop?

All the new "users" will be selling to get their free money before their neighbor is able to sell and get their free money.  It will be an epic selloff the likes of which crypto has never seen.

Jesus, this is your 50th post about this.

Give it up guy, repeating the same thing over and over is nothing but trolling.

"noobs" can read past 100+ pages about the issue already.


Have fun with your MAZA.

+1
@DaFockBro are you a bot ?

I saw you on the night time, I saw you on the day time, always spewing the same [...]

HAHAHAHAAHA...ok ok, HAHAHA!!!!! That was so funky funny )

[DaFockBro]

It has taken a few days for investors to realize that they need to dump their AUR now to avoid the crash when the supply quickly inflates by 100x starting on March 25th.

We know excatly what is going to the supply, but we really don't know what happens to the demand..

It is very unlikely that demand will increase by 100x to combat the 100x increase in supply.

Icelanders will catch word of the free ~$500 and immediately go to cash out as the price drops.

Wy not? The userbase is also over 100x after airdrop?

All the new "users" will be selling to get their free money before their neighbor is able to sell and get their free money.  It will be an epic selloff the likes of which crypto has never seen.

Jesus, this is your 50th post about this.

Give it up guy, repeating the same thing over and over is nothing but trolling.

"noobs" can read past 100+ pages about the issue already.


Have fun with your MAZA.

+1
@DaFockBro are you a bot ?

I saw you on the night time, I saw you on the day time, always spewing the same [...]

HAHAHAHAAHA...ok ok, HAHAHA!!!!! That was so funky funny )

I am an anti-auroracoin bot sent here to destroy you!

[JulianSS]

Farewell Aurora.

[cbuchner1]

6 hour block time WTF!

Thanks for wasting my time and electricity on your shitcoin scam.

what's the technical reason for this fuckup? Difficulty swings cannot be that extreme, even with multipools involved.

Christian