As a big and active supporter of this initiative I get many questions from
serious forum users why I'm so determined. Well, besides my earlier statements about believing in acting rather than screeching, I would like to suggest you read this post:
http://guardianlv.com/2013/12/icelanders-overthrow-government-and-rewrite-constitution-after-banking-fraud-no-word-from-us-media/It clarified to mee that if Crytpo would work anywhere, THIS country with it's very special likeminded people would be the place!
Thats why I support the Dev's ideology and am willing to invest a lot of effort and BTC!
And before the screechers jump in to prove I'm mainly in it for a profit, let me spare you're efforts, of course this is a big motivator as well. But I'd rather get it right with this one than all the other coin initiatives, who, IMHO will never be based on a story that can be read in the above article (and you screechers for sure will NOT have read it, that is something i'm starting to become aware of more and more!)
I'm pretty sure Icelanders will be thrilled about a crypto coin that:
a) is bouncing up and down like fiat money
b) depends highly on a centralized trading website , you run from banks and you end up with shady trading websites
c) has no real demand besides trading.
People who run from banks and other financial institution will like this coin a lot. Right now it covers all the bad things in fiat that their national currency does.
When you talk about aur and 99% of the pots are about price , then it's a failure.
First thing should be establishing a localaurora website , so you get rid of a possible mtgox fiasco
Second would be a campaign for shops to accept aurora
And third.... it's too far away to think about it.
you don't understand the difference. this coin is preprogrammed how many it will put out. the problem with fiat is the govts can keep making more whenever they want in most nations.
the reason cryptos are attractive as a wealth storage option is for those people in countries where they are concerned about massive inflation due to dilution of their share of the total currency.
if and when we see cryptos adopted as a mainstream investment and trading / commerce tool, we will start to see more stability. we are in fact still in the early stages of growth for this market, and even the most well established coins still face a lot of volatility.
just believe me when I say in some cases that volatility is preferable to what looks like a guaranteed reduction in value if you happen to live somewhere that is economically fuct. like Iceland. im not saying this is all definitely going to work out, just that the premise and rationale of the supporters arguments are quite valid. in some cases.
Probably you don't understand also something.
The coin is "initially" programmed. That's the dark side of any crypto. If the devs increase the coins tenfold and enough people follow that chain , that's it.
Same with fiat , if people still use the Zimbabwe dollar , they will still use the x10aur as well.
Look how well the people who invested in doge accepted that there would be twice the amount of coins in the next 10 years.
Also , you're comparing some coins with aurora.
Aurora wasn't supposed to be like the others , if it was a normal project I wouldn't even bother reading this thread.
But they claimed something , and they chose the path of other coins that ended as a failure.