The True Value of Auroracoin

[chris200x9]

This coin is such a scam, everybody is always up in arms about a 1.9% premine but somehow a 50% premine is ok. Also did the dev have a written legally binding contract saying he will AirDrop to Iceland? Will the AirDrop be independently verifiable? My guess is the AirDrop will mostly just go to the devs, if there is an AirDrop at all.

[doc12]

lol did you see that up to 0,16 BTC    ?WTF?

[tromp]

lol did you see that up to 0,16 BTC    ?WTF?

Just a few more days of doubling in value and #1 Bitcoin will be toast :-)

[blade87]

Can someone still post a credible source that says the Icelandic people and or government are actively planning to use AUR? And not some crypto that someone is simply offering to a few people in Iceland to try and have it take off?

[FTWbitcoinFTW]

So i just need to make a coin with 10b supply
Put 10 on circulation @ $100 each
This is it.
You have a 1 trillion market cap

[lucazane]

Market capitalization estimation done including 99% of assets who are not available.

There are some crazy retard at coinmarketcap.com


Crash will be EPIC



if you add 99 time more bitcoin to the calculation of bitcoin market cap, you have ~ 8.10^11 $ (same logic as aurora market cap)

[Oto3]

The price of Auroracoin will crash long before March 25th

[pandaisftw]

So i just need to make a coin with 10b supply
Put 10 on circulation @ $100 each
This is it.
You have a 1 trillion market cap

I'm actually concerned this may be a new thing...

[PoolMinor]

I looked around, and for some reason no one is talking about this..

I was looking up Auroracoin, and now I know why it's marketcap is insanely inflated: There are only 98476 coins in circulation, but coinmarketcap is also including all 10,500,000 (50%) of the premine coins for a total of 10,598,476 coins.

The true value of the Auroracoin marketcap is currently $2,552,498. When the airdrop happens, expect the price to eventually plummet to less than 1% of it's current value when the airdrop is finally complete. If I were an Icelander, I'd grab my free ~$900 USD and dump it right away, the price is only going to drop as the supply inflates by %10,000 in less than a year's time.

Additionally, people don't seem to realize that currently one entity controls 50% of the total Auroracoin supply (10,500,000) while there are only ~100k coins being traded by everyone else. So when the price "jumps" 60-70%, that's actually not uncommon for low valued coins; however, because the pre-mine number is included, this jump looks magnitudes larger than it really is.

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.

Finally someone else that agrees with simple logic. The coin has been pre-mined by more than 50% it is currently 10,500,000/10,600,301 = 99%

[Alohaboy?!]

The Airdrop will happen on Cryptsy 

i think it´s to early

[lemfuture]

the true value of auroracoin is based on how long the speculator will hold this coin until 2nd gen cryptos take over with em advanced features

[Come-from-Beyond]

Crash will be EPIC

The same was said about Bitcoin 2 years ago...

[hdbuck]

Crash will be EPIC

The same was said about Bitcoin 2 years ago...

yeahh i'd rather think it will be an interesting experiment on a national scale and that its success may overplay the doomed scenario

[warlogna]

Crash will be EPIC

The same was said about Bitcoin 2 years ago...

Now is a good time to invest in BTC, because of AUR.

Option 1: Dev steals all the premined coins, is rich. Price of AUR drops like a rock. You are poor.

Option 2: Airdrop commences. Imagine you're an Icelandic citizen. Someone gives you 31AUR. Worth now about $1860, and you have a mind to redeem it. What's the first thing you do? You turn it into money you can use. First things first, trade them for BTC. Second things second, trade those for Iceland monies. Price of AUR drops like a rock. You are poor.

Bottom line is staying in after the airdrop date is foolish. It's a daytrader's wet dream, honestly. Nobody can write it off as a pumped and dumped dead coin until the 25th, so it's guaranteed to have some value until then.

[CoinHeavy]

All airdrop addresses are publicly visible.  If any coins move from them ahead of the airdrop, folks will notice.

[warlogna]

All airdrop addresses are publicly visible.  If any coins move from them ahead of the airdrop, folks will notice.

And do what about it? The Dev has deigned to remain anonymous

[kalus]

Now is a good time to invest in BTC, because of AUR.

I think this is the main take-home message of Auroracoin.

the main way people can make money off auroracoin is just like most of the other shitcoins:  mine while profitable, and sell for BTC ASAP.  

if anybody's actually buying auroracoin they're idiots.  

this thread also deserves to stay on the first forum page to offer a sober second thread for speculators. 

[ZeroBarrier]

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?

[kalus]

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?

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. 

[hvezdasmrti]

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