The True Value of Auroracoin

[V8x8d]

I want to know who is still investing at nearly $50? The Icelandic people must to itching to sell these coins.

[Bigeyeone]

I got a feeling the dev of this coin gonna be a hero in iceland, $ 500 per person or something, thanks altcoin speculators  

[FrictionlessCoin]

Interesting that auroracoin is very similar to ZenithCoin

Auroracoin

Scrypt Algo
21 million total coins.
25 coins per block.
Coins mature after 100 blocks
Re-target every 8 blocks.
50% premined

Zenithcoin
Scrypt Algo
42 million total coins.
24 coins per block.
Coins mature after 120 blocks
Re-target every 9 blocks.
50% subsidy goes to developer redistribution

[Wolf Rainer]

I got a feeling the dev of this coin gonna be a hero in iceland, $ 500 per person or something, thanks altcoin speculators  

Good job of the dev, he maded 500 millions in one month what a player, hahahah.

[tromp]

People usually scream bloody murder to premine (even as *low* as 10%!), but some guy comes along and says "give me 50% premine, I promise to distribute it, trust me" and suddenly everyone is convinced.

The big puzzle to me is: how can the airdrop possibly be implemented without government support?

How does he deal with a thousand people who all claim to be
Sigrun Gudmundsdottir with kennitala (national id) 120174-3389?

Have them all send in a copy of their passport and manually verify it?
I'm really curious how this is supposed to be implemented.

They only way I can see this working is if each Icelander has been issued a private key
and there is a public list of public keys (and each Icelander has been professionally
trained how to properly handle keys and keep their computer secure. Yeah right)

[Hyperjack]

A wise man once said In the end there's always someone holding the bag.

A wise man also said there's an a$$ for every seat...I guess I'm an a$$ with a bag!

[drippx]

mazacoin same premise as aura, trading in cryptorush, get in while its still low

[FrictionlessCoin]

mazacoin same premise as aura, trading in cryptorush, get in while its still low

Difference is Mazacoin is actually the official currency of a sovereign nation.

AuroraCoin is just a coin that plans to re-distribute to everyone in Iceland.

ZenithCoin has exact same characteristics as AuroraCoin just not the re-distribution.   Maybe it needs to figure out which population to 're-distribute' to.

[baka]

mazacoin same premise as aura, trading in cryptorush, get in while its still low

Yeah, who knows maybe the same people will pump it with the profit made from dumping aurora.

[Benezivas]

I got a feeling the dev of this coin gonna be a hero in iceland, $ 500 per person or something, thanks altcoin speculators  

Good job of the dev, he maded 500 millions in one month what a player, hahahah.

I find it interesting to watch how much support such an obvious scam from a dev with no open identity is given. Did anyone think about how the dev could possibly liquify this volume of coins? Who would be willing to buy a stack of 10 friggin million coins on the airdrop day?

I guess I'll just be leaning back and watch the biggest and most obvious and brazen scam in the current history of altcoins happen.

[BestofSR]

I want to say that I am happy for Aurora and that I think It really is great idea and great marketing for Cryptos in general, but I absolutly agree with OP. I am not saying it is a scam (may be) but the market value is totally artificial, buying for these prices feels just stupid. There will be huge crashes, So I am taking my popcorn. 

[jubalix]

People usually scream bloody murder to premine (even as *low* as 10%!), but some guy comes along and says "give me 50% premine, I promise to distribute it, trust me" and suddenly everyone is convinced.

The big puzzle to me is: how can the airdrop possibly be implemented without government support?

How does he deal with a thousand people who all claim to be
Sigrun Gudmundsdottir with kennitala (national id) 120174-3389?

Have them all send in a copy of their passport and manually verify it?
I'm really curious how this is supposed to be implemented.

They only way I can see this working is if each Icelander has been issued a private key
and there is a public list of public keys (and each Icelander has been professionally
trained how to properly handle keys and keep their computer secure. Yeah right)

I also dont get this part

[hasar]

Why people paying for 50 bucks for 1 aurora? They're hoping for more profit? Or it's just concerted price hike?

[FrictionlessCoin]

People usually scream bloody murder to premine (even as *low* as 10%!), but some guy comes along and says "give me 50% premine, I promise to distribute it, trust me" and suddenly everyone is convinced.

The big puzzle to me is: how can the airdrop possibly be implemented without government support?

How does he deal with a thousand people who all claim to be
Sigrun Gudmundsdottir with kennitala (national id) 120174-3389?

Have them all send in a copy of their passport and manually verify it?
I'm really curious how this is supposed to be implemented.

They only way I can see this working is if each Icelander has been issued a private key
and there is a public list of public keys (and each Icelander has been professionally
trained how to properly handle keys and keep their computer secure. Yeah right)

I also dont get this part

Yes this is the part that is an entire mystery.

Obviously a citizen needs to provide his identity number,  but is this not sensitive information?

Maybe they'll get a 3rd party to re-distribute the coins... who knows!

[solid12345]

Every criticism of Auroracoin can apply to Bitcoin

1. It's not government sanctioned either, anywhere. Looking the other way is not tantamount to endorsement
2. It's creator is anonymous too and for no better reason either than AUR's creator
3. The creator holds a sh-t ton of coins that he mined himself in the opening days when BTC was unknown and difficulty was very, very low. If Satoshi brought a million coins to the market for sale, it would crash Bitcoin too
4. There is no wide merchant acceptance for Bitcoin. Yes this year we finally saw some national retailers like Overstock and tigerdirect, but when BTC's speculation levels were riding at their highest in late '012 there was virtually nowhere meaningful you could buy goods and services with. Small wordpress stores selling USB cables or Amazon gift cards hardly counts as a "merchant" in my book.

And finally, my favorite of all

5. What in god's name does Litecoin offer any more than Aurora offers to justify its market cap? At least Aurora is practical and is trying to find a real world use, I have not seen one good excuse WHY Litecoin should be the "silver" to Bitcoin's gold other than faster transaction times. Well you know what, other coins have fast transaction times and a dozen other more features. I think alot of people are just upset that LTC is not taking off like they hoped, they first lashed out at Doge and called it a scam, and when it proved here to stay they now want to focus their aggression on Aurora.

Also if you don't think the people of Iceland are "Ready" for crypto, then no one is really. There is no better place than an island nation of 300k experiencing currency problems to experiment, if it works it could be the thing we need to pull us out of the Mt Gox fiasco in the eyes of the world. Trust me, the average person thinks Bitcoin is a bigger scam or Ponzi scheme at the moment.

[Hyperjack]

Why people paying for 50 bucks for 1 aurora? They're hoping for more profit? Or it's just concerted price hike?

Coin market cap is drawing attention too it but only  a small amount available!

[solid12345]

Why people paying for 50 bucks for 1 aurora? They're hoping for more profit? Or it's just concerted price hike?

Coin market cap is drawing attention too it but only  a small amount available!

Exactly, simple supply and demand. Look at the sell orders, most range between 1-5 at most, few whales control hundreds, another reason why this would be hard for a Wolong to come in and dump the price.

[tromp]

Every criticism of Auroracoin can apply to Bitcoin

Uhm, no.
Bitcoin never claimed to have a way of distributing millions of coins to a large population for free.

That is Aurora's main claim to fame. And it looks like an empty promise,
since as far as I can tell, such a distribution scheme is not actually feasible.

[kephael]

Wake up, man. This is just a scamcoin!

Indeed, it just has a new twist to it.

[FTWbitcoinFTW]

where do you go if you want to short AuroraCoin?