Why dont the AURORA Coin team just use BITCOIN?

[GuinnessBIT]

Bitcoin is proven, and works.   

Couldn't the team accomplish the same goal by taking up a collection, and doing a bitcoin "drop"?

The trust issue would still be at least the same, but they would be on a proven platform.  Or they could use an escrow service (although I understand they prefer not to)

Thoughts?

[GuinnessBIT]

Additionally they would have more services,  tools and liquidity available to them with bitcoin.   

If they have a population of 300k,   Aurora coin might face liquidity issues.

[Canaanite]

The answer is no.

1)Bitcoin is currently owned by a very small percent of people (50% are beeing owned by 1000 people)  there is no reason for Icelanders to pay for them because they were first if they can make their own coin

2) Icelanders are currently not allowed to purchase bitcoins due to laws. but they are allowed to be given them for free.

[GuinnessBIT]

If they currently have laws on bitcoin,  is it likely that they would impose laws on Aurora coin? 

Or is there some fundamental difference that I am missing?

[lphelps]

Bitcoin is proven, and works.   

Couldn't the team accomplish the same goal by taking up a collection, and doing a bitcoin "drop"?

The trust issue would still be at least the same, but they would be on a proven platform.  Or they could use an escrow service (although I understand they prefer not to)

Thoughts?

and what would you believe would be the amount of BTC per citizen of Iceland should get? It sure as hell wouldn't be the 31.8 AUR that the dev is claiming to release to each citizen. That would be like giving $18K USD per citizen. That would be like $190 billion in USD valued in BTC given to the Icelandic citizens..

I imagine that would spur a immigration spike to those wanting to move to Iceland for some serious money...

With AUR, if the price was driven up to about .135 BTC, times 31.8, that would be about $2700 in BTC at the current exchange rate.. They could either cash it in for fiat or exchange their AUR for BTC and hold onto them..

[Canaanite]

If they currently have laws on bitcoin,  is it likely that they would impose laws on Aurora coin? 

Or is there some fundamental difference that I am missing?

Maybe they will, but currently they don't have. so Auroracoin take advantage of this gap
It will be had for a small goverment to make laws against a 1000$ present each of the citizens will get. they wont keep their position for long

[GuinnessBIT]

Bitcoin is proven, and works.  

Couldn't the team accomplish the same goal by taking up a collection, and doing a bitcoin "drop"?

The trust issue would still be at least the same, but they would be on a proven platform.  Or they could use an escrow service (although I understand they prefer not to)

Thoughts?

and what would you believe would be the amount of BTC per citizen of Iceland should get? It sure as hell wouldn't be the 31.8 AUR that the dev is claiming to release to each citizen. That would be like giving $18K USD per citizen. That would be like $190 billion in USD valued in BTC given to the Icelandic citizens..

I imagine that would spur a immigration spike to those wanting to move to Iceland for some serious money...

With AUR, if the price was driven up to about .135 BTC, times 31.8, that would be about $2700 in BTC at the current exchange rate.. They could either cash it in for fiat or exchange their AUR for BTC and hold onto them..

>and what would you believe would be the amount of BTC per citizen of Iceland should get?

I am not proposing anything.  I am just asking if this could be accomplished with BTC which I have seen to be a liquid, existing crypto currency.  

However,  if it were a collection in BTC for the people of Iceland, the amount per citizen would be:  the total donated, divided by the # of people.

I personally think this is a laudable goal.   I would also personally donate BTC to this cause but have some questions about developing a new currency for this cause or each cause like this.  People will ultimately have to assign a value to currency in the marketplace.

[FoBoT]

gmail is proven, and works.   

Couldn't the team accomplish the same goal by taking up a collection, and putting everyone on gmail?

The trust issue would still be at least the same, but they would be on a proven platform.  Or they could use a Microsoft  Exchange server (although I understand they prefer not to)

Thoughts?

[RoooooR]

If they use btc they could not retire.

[poornamelessme]

The premine of course would be the logical reason they can't use bitcoin.

I haven't followed this coin very closely, but if we pretend it wasn't a scam, the premine would be needed so the receivers would actually get anything. But then it turns into another problem of the early receivers being the only ones getting much at all, as they would sell their coins, meaning those who got/sold them last would only make a tiny, tiny percentage of the coin's current worth.

As a scam, it makes much more sense, as the dev can sell of some of his coins, slowly not to kill the price. Then if he wanted, he could airdrop some of them, again sell more off... bring up 'complications' or some reason that all of the coins couldn't be given away, and make a nice bundle. I'm not even sure from a logistics standpoint how the coins could be given away.

I guess what possibly could work with this sort of giveaway is if there was a trusted 3rd party, perhaps what maza could do if they wanted (tribal councils, non-fiat bank), or something like that ... or a group that used the coins to help the community rather than give coins to each individual person.

Although we don't need more junk coins (and may give someone ideas here how to scam people), something like a Famine or Red Cross coin could potentially work, IF the receiver of the coins wasn't corrupt, and also didn't simply dump all the coins immediately to kill the price. The coins could be used to improve living conditions or as-needed vs giving to each individual person.

[BohemianStalker]

The premine of course would be the logical reason they can't use bitcoin.

I haven't followed this coin very closely, but if we pretend it wasn't a scam, the premine would be needed so the receivers would actually get anything. But then it turns into another problem of the early receivers being the only ones getting much at all, as they would sell their coins, meaning those who got/sold them last would only make a tiny, tiny percentage of the coin's current worth.

As a scam, it makes much more sense, as the dev can sell of some of his coins, slowly not to kill the price. Then if he wanted, he could airdrop some of them, again sell more off... bring up 'complications' or some reason that all of the coins couldn't be given away, and make a nice bundle. I'm not even sure from a logistics standpoint how the coins could be given away.

I guess what possibly could work with this sort of giveaway is if there was a trusted 3rd party, perhaps what maza could do if they wanted (tribal councils, non-fiat bank), or something like that ... or a group that used the coins to help the community rather than give coins to each individual person.

Although we don't need more junk coins (and may give someone ideas here how to scam people), something like a Famine or Red Cross coin could potentially work, IF the receiver of the coins wasn't corrupt, and also didn't simply dump all the coins immediately to kill the price. The coins could be used to improve living conditions or as-needed vs giving to each individual person.

Pretty obvious this is a scam.

The devs wanting to enrich themselves is the ONLY reason for refusing to involve a trusted escrow and let a neutral third party administer the distribution.


~BCX~

Pretty obvious you are trying to reduce the price so you can buy more AUR.

There is no trusted escrow or neutral third party for something worth 10s of million's of dollars. Oh wait I know. You want to be the thiord party - hre take my remaining 10 AUR! You are like kid , running in circles and repeating the same fucking ideas again and again.


AND LOL to the btc idea - yeah just give everybody bitcoin , CAUSE BITCOINS ARE FREE. Just print some new bitcoins and hold them over, brilliant.

[kalus]

AND LOL to the btc idea - yeah just give everybody bitcoin , CAUSE BITCOINS ARE FREE. Just print some new bitcoins and hold them over, brilliant.

so why the fuck give auroracoins? auroracoins "ARE FREE"?  wasn't the 50% premine just "print some new" altcoin?  where do you think their value comes from?

[Canaanite]

@BoehemianStalker


There certainly is a solution with a trusted third party.

You obviously think in simple terms and lack any sort of sophistication.

The trusted escrow should be a committee of publicly known entities.

This whole thing wreaks of scam.

Now run along and drink some more Koolaid.



~BCX~

Well you said your opinion, we said ours.
Bottom line. if you are right we will lose our money. if you are wrong... you still didn't agree to make a public apology

[ixobelle]

That would be like giving $18K USD per citizen.

I imagine that would spur a immigration spike to those wanting to move to Iceland for some serious money...

eighteen thousand dollars to move to iceland.

k.

[muddafudda]

The premine of course would be the logical reason they can't use bitcoin.

I haven't followed this coin very closely, but if we pretend it wasn't a scam, the premine would be needed so the receivers would actually get anything. But then it turns into another problem of the early receivers being the only ones getting much at all, as they would sell their coins, meaning those who got/sold them last would only make a tiny, tiny percentage of the coin's current worth.

As a scam, it makes much more sense, as the dev can sell of some of his coins, slowly not to kill the price. Then if he wanted, he could airdrop some of them, again sell more off... bring up 'complications' or some reason that all of the coins couldn't be given away, and make a nice bundle. I'm not even sure from a logistics standpoint how the coins could be given away.

I guess what possibly could work with this sort of giveaway is if there was a trusted 3rd party, perhaps what maza could do if they wanted (tribal councils, non-fiat bank), or something like that ... or a group that used the coins to help the community rather than give coins to each individual person.

Although we don't need more junk coins (and may give someone ideas here how to scam people), something like a Famine or Red Cross coin could potentially work, IF the receiver of the coins wasn't corrupt, and also didn't simply dump all the coins immediately to kill the price. The coins could be used to improve living conditions or as-needed vs giving to each individual person.

Pretty obvious this is a scam.

The devs wanting to enrich themselves is the ONLY reason for refusing to involve a trusted escrow and let a neutral third party administer the distribution.


~BCX~

I agree. It's ashamed to see the community accepting and promoting this kind of crap. Shame.

[Cryptokk]

Maybe the dev team just don't own enough money to buy enough BTC for feeding 300k peoples ?
So they made 1.

Scam or not, they not using BTC obliviously because of money.

[Azeh]

@BoehemianStalker


There certainly is a solution with a trusted third party.

You obviously think in simple terms and lack any sort of sophistication.

The trusted escrow should be a committee of publicly known entities.

This whole thing wreaks of scam.

Now run along and drink some more Koolaid.



~BCX~

I believe the only true scammer is BCX.  Each day his agenda becomes more obvious.  All you tools bobbin' on his knob need to wake up. Those that scream scam the loudest are likely the scammers themselves. The more likely situation is that he's probably the whale on Cryptsy attempting to scare people into his buy orders with his incessant attacking of auroracoin.

Hey BCX, how much profit you made on AUR so far?  Hey, BCX, how much of the pre-mine has the dev sold so far? 

[kalus]

Maybe the dev team just don't own enough money to buy enough BTC for feeding 300k peoples ?

oh please. bullshit.

http://www.statice.is/?PageID=444&NewsID=10175

iceland doesn't have a problem feeding its own people:  everyone else does.  

So they made 1.

don't have money?  print your own!

[Cryptokk]

Maybe the dev team just don't own enough money to buy enough BTC for feeding 300k peoples ?

oh please. bullshit.

http://www.statice.is/?PageID=444&NewsID=10175

iceland doesn't have a problem feeding its own people:  everyone else does.  

So they made 1.

don't have money?  print your own!

C'mon don't be so harsh, no reasons.

It's not because the dev is from Iceland he is a rich guy able to buy enough bitcoin for 300k other Icelanders.

don't have money?  print your own!

This is the basics of the creation. This works for anything.
If you make something that people want to buy it: it's getting value. It's not just related to coins.
AUR dev never "printed" any money. It's peoples giving a value to AUR, not the devs. If you bought AUR even just once, YOU did "print" the money.

I think it's pointless to speak with you, you're clearly upset against AUR (you bought @ 0.08? ^^) and not open to discuss, making you saying weird things.
I'm not for or against AUR, just neutral.

[albertdros]

Because if they used Bitcoin they wouldn't have a 50% premine to launder into their own wallets via "Air Drop".


That's the only reason the dev team has refused to turn over the premine to a trusted third party and remove themselves from the laundering "Air Drop".


~BCX~

i bet half of that 714 activity posts are to bash auroracoin. Don't you have anything else to do? We get your point. 100s of posts in every AUR thread saying it's a scam. We get it, we get your opinion, no need to say it 100x in every topic.