The True Value of Auroracoin

[kalus]

We know that but we cant profit from that  

the pool i'm using mines auroracoin, and sells it for btc.  If you're a miner you can profit off this irrational exuberance easily because it's currently the most profitable coin to mine (by coinmarketcap/coinwarz etc. fucked up estimations).

it's important for miners as well as investors to know that auroracoin is a Potemkin currency, and not to be left holding the bag.   This is not a long-term investment for miners or investors.  If you want to make money, that's the most prudent position to take on auroracoin right now.  

mine it, sell it, and repeat. 

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[ZeroBarrier]

it's a 50% premine with a value predicated on an unsubstantiated, unenforceable promise of countrywide distribution in iceland.  

to figure out if a scammer should hold a single wallet or 21 wallets to hold their coins for a pump and dump is like rearranging deck chairs on the Hindenburg.

the main thing that strikes me as odd is why people are actually buying these coins i'm mining. 

Oh, I'm not trying to figure out why 21 addresses, I think my theory is as good as any (actually it might be the most sound theory as to why 21 addresses, lol).

As to why people are buying them? Simple, they see a coin that has gone from $4 to $71 (which is roughly 1,700% growth is an incredibly short period of time); They're just hoping to make a quick profit before the dumping starts. And this is why we are going to see plenty of bag holders with very empty pockets, lol.

We know that but we cant profit from that  

Tell me how i can make profit from short selling auroracoin? I will cash out the difference between the value today and value after dumping premine by icelandians (or just by preminer). I will give you the value which the coin will have in one year + 10 percent if you allow me to shortly sell your coins NOW.

Its annoying, crypto needs a possibility of short selling, all pump and dumps would be purged by that. There are 199 coins which will lose value and maybe 2-3 which will go randomly up. I dont want to seek the 1 big coin, i want to cash out your loss from the 199 other coins  

Have fun short selling them, but the point is you run a very high risk of being one of the many bag holders at the end of this mess.

We know that but we cant profit from that 

the pool i'm using mines auroracoin, and sells it for btc.  If you're a miner you can profit off this irrational exuberance easily because it's currently the most profitable coin to mine (by coinmarketcap/coinwarz etc. fucked up estimations).

it's important for miners as well as investors to know that auroracoin is a Potemkin currency, and not to be left holding the bag.   This is not a long-term investment for miners or investors.  If you want to make money, that's the most prudent position to take on auroracoin right now. 

mine it, sell it, and repeat. 

If someone is selling, then there's someone buying which means there's going to be bag holders who will lose money; and in the case of AUR they're going to be losing a lot of money.

[kalus]

Oh, I'm not trying to figure out why 21 addresses, I think my theory is as good as any (actually it might be the most sound theory as to why 21 addresses, lol).

As to why people are buying them? Simple, they see a coin that has gone from $4 to $71 (which is roughly 1,700% growth is an incredibly short period of time); They're just hoping to make a quick profit before the dumping starts. And this is why we are going to see plenty of bag holders with very empty pockets, lol.

lol, but who the hell told them to buy high and sell low?   people must be high to buy them at these prices!  (btw thanks people buying these coins!)

If someone is selling, then there's someone buying which means there's going to be bag holders who will lose money; and in the case of AUR they're going to be losing a lot of money.

that's the real tragicomedy of altcoins.  It is interesting how a good story will get people opening their wallets, even with a 50% premine.  

it's coins like auroracoin that make bitcoin look safe and stable by comparison. 

[hvezdasmrti]

I know about this coin mining profitability but its not as much profitable, diff is terrible im currently mining other coin which gives me 80 percent of AUR revenue, i am too tired now in bed to switch all rigs and to create new accounts at another pool :/
Again i missed a train but again skyrocketed a foolish coin. Racionality is a big handicap   I get slowly exhausted from that, its not healthy for the whole alt and crypto-community and value. There were too many obvious overpumps and dumps last time, just to remember:
- quarkcoin in november - do you remember, so many trolls crying nonsenses like buy quarks from botnets... and noobs who bought really made profit.
- doge - december pump, january dump, january re-pump, now slow dump
- mooncoin and kitteh - total fail crapcoins with new trick - so called "relaunch" or just by correct name: buy a coin for 7 latoshi, make hype and sell for 100 satoshi and then let it die
- vertcoin - at least first coin where the dump was not so critical ("only" 80 percent of peak value)
- bitcoin - big dump by karpeles
- mintcoin - do you remember? dropped from 8 satoshi to 4 satoshi, still gaining nice profits... then pumped to 60 in 2 days and nobody knowing why... now being dumped
- aurora - we see, everything terrible, name is shit, but so popular
- mazacoin - just someone has told to fools that he has similar coin like aurora for a nation which maybe doesnt have electricity even computers and foools bought his coin and... made big profit

and so fort, everybody will probably remember any these coin but they all repeated the same schema - nothing, then incredibly fast pump based upon bullshits and promises, then dump, sometimes re-pump and then death to prevent it from stabilizing and eating buypower from new scamcoins.


I will write a story about my life, planning first book to 2016 - 18 and maybe i will give you an english version if my sister will be willing to translate it The crypto-tullips-era will be a nice chapter. Sad but true.

Have a nice day.

And i forgot one more thing, maybe strange, maybe weird. This is one more evidence of human decadence. People are still repeating same failures, mankind getting more and more stupid and degenerated (even because only stupid and junk people have children). All previous civilisations in history were destroyed. Usually after they went evil or totallly decadent. I strongly believe, the crypto bubble is one more evidence for higher intelligency which will slowly push them to decision to restart mankind again... Like Harappa civilisation, like Atlantida, like Sodoma Gomora, like many civilisations which we just dont know because they were melt down. I dont believe in history of civilisations only 5000 years old. Its nonsense, some structures have survived much longer but no explanation and documentation (sfinx, puma punku etc. - structures over 10000 years old).

[st1ngray]

is things just like these that had forced me to mine litecoin only then convert it to bitcoin. in the end, bitcoin is all that will be standing and all of the "alternatives" shit coins will fail, only a few "devs" will come out of this with pockets full of cash.
 pre-mine any coin is the first red flag the way i look at it, then is the insane amount of coins that can be mined that is also killing most if not all other coins.

[flounderella]

Since I posted yesterday, this coin has gotten even more rediculous.

100,851 is the total that have been mined since launch.

10,600,851 is the total including pre-mine AND mined coins.

10,500,000 is the pre-mine. (99% of total existing coins is pre-mine at this time.)

That's 10,500,000 x $71.51 = $750,855,000 at it's current rate.



The pre-mine alone is now worth more than double that of LTC and it doesn't seem likely to stop anytime soon. I'm calling it right now, this will be the most epic pump & dump in cryptocurrency to date.

I see one of two things eventually happening; either the airdrop happens in which each person from Iceland is given roughly 32 AUR (which is currently valued at $2288) and we'll get roughly 320,000 people dumping their 32 coins and killing AUR in the process, or the dev dumps whatever he can of the 10,500,000 coins he's holding from the pre-mine before the airdrop to get as much out of them and killing the coin in the process as well. Either way, this coin in dead already and people are just trying to ride the wave at the very edge. Some people are going to be left holding bags, but the only person with any potential to hit it rich in this coin is the dev.

One thing that strikes me as odd is holding the pre-mined coins in 21 separate wallet addresses. Is this to meant to buy some time to dump the coins from 1 address (500,000 AUR which is currently valued $35,755,000) while people scramble to check 21 separate addresses to verify if the pre-mine is being dumped? Is there any reason 10,500,000 AUR can't be held in 1 single solitary wallet address?

This is truly epic. I have to say I completely missed this pump and dump.

[kalus]

Since I posted yesterday, this coin has gotten even more rediculous.

100,851 is the total that have been mined since launch.

10,600,851 is the total including pre-mine AND mined coins.

10,500,000 is the pre-mine. (99% of total existing coins is pre-mine at this time.)

That's 10,500,000 x $71.51 = $750,855,000 at it's current rate.



The pre-mine alone is now worth more than double that of LTC and it doesn't seem likely to stop anytime soon. I'm calling it right now, this will be the most epic pump & dump in cryptocurrency to date.

I see one of two things eventually happening; either the airdrop happens in which each person from Iceland is given roughly 32 AUR (which is currently valued at $2288) and we'll get roughly 320,000 people dumping their 32 coins and killing AUR in the process, or the dev dumps whatever he can of the 10,500,000 coins he's holding from the pre-mine before the airdrop to get as much out of them and killing the coin in the process as well. Either way, this coin in dead already and people are just trying to ride the wave at the very edge. Some people are going to be left holding bags, but the only person with any potential to hit it rich in this coin is the dev.

One thing that strikes me as odd is holding the pre-mined coins in 21 separate wallet addresses. Is this to meant to buy some time to dump the coins from 1 address (500,000 AUR which is currently valued $35,755,000) while people scramble to check 21 separate addresses to verify if the pre-mine is being dumped? Is there any reason 10,500,000 AUR can't be held in 1 single solitary wallet address?

This is truly epic. I have to say I completely missed this pump and dump.

don't worry; you haven't missed the dump.

[lionheart78]

^^ OP is right there shouldn't be lots of explanation but as what the first one  tells you people....


               the  LAW OF SUPPLY AND DEMAND.....  just understand that...   and you'll understand what this thread is about..

so for now enjoy the profit before the airdrop ^^


still can't visualize it? 




there to make it clearer

[YoyodyneSystems]

AUR is not for the weak. Turn away if you can't look.

I'm staring straight into it's eyes.

[lionheart78]

AUR is not for the weak. Turn away if you can't look.

I'm staring straight into it's eyes.

AUR is for all wether  weak or strong.. smart people jumps in and jumps out at the right moment..     hope u wont get blinded by it ^^, and the moment this coin drops it's value... i bet you jump out too..  i just hope your smart enough to let go when the value of AUR drops.... ..  strong people are always outplayed by smart one ^^, just my thought..


note:
we have nothing against AUR..  the OP just wanted to remind us about a certain fact.. which is i'm afraid is correct if you apply the principles ...  anyway sad but true, "a wise reminder holds no value in a  mind of a fool"

[chip99]

the electrizity it takes to mine it.

[tbitt]

Someone is giving huge amounts of money to icelanders.

[h00395]

Keep an eye on it

[Simakki]

The Price will dump really big time when icelanders get them. Supply and demand, so simple. I dont understand how people miss that, basic economics for god sake.

Google supply curve shift and see what will happen

[Fraxinus]

There is a leak of a piece of a chat with wolong and its them pumping the coin, so expect a big dump. I'll check for the log.
Not saying you shouldn't buy aur , i still believe in its initiative. But some info worth seeing.
You guys scared me in selling 2 aur yesterday only to see that aur is more then doubled by now, bastards!

auroracoin


[10:34] <Nature-> are we planning anything?
[10:34] * Joins: Loperian (Loperian@51-212-70-33.acanac.net)
[10:36] <wolong> WE ARE BUYING AUR
[10:36] <wolong> ILL MAKE A WALL AT 750, OBJECTIVE 2000
[10:37] <dogecheese> ok
[10:37] <wolong> BUY SLOWLY
[10:37] <wolong> CANCEL ALL SELLS
[10:38] <wolong> !check
[10:39] <AssemblyBot> **** Assembly check initiated by wolong - type !ready if you are ready ***
[10:39] <ITAR-TASS> !ready
[10:39] <neyros> !ready
[10:39] <dogecheese> !ready
[10:39] <st> !ready
[10:40] <Nature-> !ready
[10:40] <Nekomata3> !ready
[10:40] <^^Kilroy> !ready
[10:40] <csshih> !ready
[10:40] <rowtrip> !ready
[10:40] <Deadhand> !ready
[10:40] <december92> !ready
[10:40] <Loperian> !ready
[10:40] <urukhai-pumper> !ready
[10:40] <--vacuun--> !ready
[10:41] <wolong> !end
[10:41] <wolong> we will go to at least 2000 at first wave
[10:42] <wolong> buy small amounts of AUR slowly
[10:42] * Quits: Deadhand (Deadhand@dsl-7-143-127-14.bb.dnainternet.ru) (Quit: )
[10:45] <Nature-> and when we will recover the GLC pump?
[10:47] <wolong> that week can be the moment, start microbuying glc if you want
[10:47] <wolong> we can pump to 5000 or more easily
[10:47] <Loperian> nice, i have some stack of glc waiting
[10:48] <Nature-> good! Wink
[10:48] <urukhai-pumper> motherfucker! dont dump on us
[10:48] <Loperian> lol ill wait until 5000
[10:48] <urukhai-pumper> hahaa we will see..
[10:48] <Loperian> trust me! xD
[10:48] * Joins: cryptoshark (cryptoshark@98-176-236-61.dclient.hispeed.fi)
[10:49] <cryptoshark> you started?
[10:49] <Nature-> cryptoshark: we are doing aur atm and next pump will be glc.. be rdy
[10:49] <cryptoshark> ok ty

[atc1]

Plenty of time till the airdrop. We'll see what happens then.

[Canaanite]

There is a leak of a piece of a chat with wolong and its them pumping the coin, so expect a big dump. I'll check for the log.
Not saying you shouldn't buy aur , i still believe in its initiative. But some info worth seeing.
You guys scared me in selling 2 aur yesterday only to see that aur is more then doubled by now, bastards!

auroracoin


[10:34] <Nature-> are we planning anything?
[10:34] * Joins: Loperian (Loperian@51-212-70-33.acanac.net)
[10:36] <wolong> WE ARE BUYING AUR
[10:36] <wolong> ILL MAKE A WALL AT 750, OBJECTIVE 2000
[10:37] <dogecheese> ok
[10:37] <wolong> BUY SLOWLY
[10:37] <wolong> CANCEL ALL SELLS
[10:38] <wolong> !check
[10:39] <AssemblyBot> **** Assembly check initiated by wolong - type !ready if you are ready ***
[10:39] <ITAR-TASS> !ready
[10:39] <neyros> !ready
[10:39] <dogecheese> !ready
[10:39] <st> !ready
[10:40] <Nature-> !ready
[10:40] <Nekomata3> !ready
[10:40] <^^Kilroy> !ready
[10:40] <csshih> !ready
[10:40] <rowtrip> !ready
[10:40] <Deadhand> !ready
[10:40] <december92> !ready
[10:40] <Loperian> !ready
[10:40] <urukhai-pumper> !ready
[10:40] <--vacuun--> !ready
[10:41] <wolong> !end
[10:41] <wolong> we will go to at least 2000 at first wave
[10:42] <wolong> buy small amounts of AUR slowly
[10:42] * Quits: Deadhand (Deadhand@dsl-7-143-127-14.bb.dnainternet.ru) (Quit: )
[10:45] <Nature-> and when we will recover the GLC pump?
[10:47] <wolong> that week can be the moment, start microbuying glc if you want
[10:47] <wolong> we can pump to 5000 or more easily
[10:47] <Loperian> nice, i have some stack of glc waiting
[10:48] <Nature-> good! Wink
[10:48] <urukhai-pumper> motherfucker! dont dump on us
[10:48] <Loperian> lol ill wait until 5000
[10:48] <urukhai-pumper> hahaa we will see..
[10:48] <Loperian> trust me! xD
[10:48] * Joins: cryptoshark (cryptoshark@98-176-236-61.dclient.hispeed.fi)
[10:49] <cryptoshark> you started?
[10:49] <Nature-> cryptoshark: we are doing aur atm and next pump will be glc.. be rdy
[10:49] <cryptoshark> ok ty

Its good to know.. But now that everybody knows... they probably have a backup plan

[V8x8d]

As kennitala (personal identification) is publicly available in Iceland it will take more than submitting this reference to claim your free coins. I really can't grasp how the developers can achieve this. Are they going to accept any IP address from that region that submits a valid kennitala? If so, I will be booking a flight to Iceland soon and will be rich.

[xingqiaoyin]

This is a btc op run by the big btc bagholders to change iceland central bank stance.
Their plan is to give a taste of cryptos to relatively small population of ireland.
And then hope for the best that the icelanders will petition their central bank to change stance.
It has the right number of population and the financial infrastructure to support it.
So i think instead of being skeptical let's hope for the best..that the airdrop is a success.
It will be a very big thing for cryptos if the icelanders actually wake up to cryptos.
Forget 1500$ or 1000$ per citizen, even 50$ free money is huge promotion and enough for skeptics to taste.
Waiting for that reports "Icelanders cash in 1500$ worth of aur crypto currency in local banks"  to show up in cnn or reuters.

[pandaisftw]

As kennitala (personal identification) is publicly available in Iceland it will take more than submitting this reference to claim your free coins. I really can't grasp how the developers can achieve this. Are they going to accept any IP address from that region that submits a valid kennitala? If so, I will be booking a flight to Iceland soon and will be rich.

I also wonder this, does anyone know? How does the dev guarantee, using a public database, someone is really who they say they are?