[ANN][AUR] Auroracoin - a cryptocurrency for Iceland - page 137.

DaFockBro

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Quote from: pjviitas on March 05, 2014, 09:19:09 PM

Quote from: DaFockBro on March 05, 2014, 09:12:06 PM

Quote from: pjviitas on March 05, 2014, 09:07:57 PM

How is market cap calculated?

Price x Number of coins in circulation

Current Auroracoin market cap:

.05225 BTC/AUR x 103,851 AUR = 5426 BTC

So basically what your saying is that when the airdrop happens the market cap will be approximately:

.05225 BTC/AUR x 10,500,000 AUR = 548625 BTC

That's a lot of Bitcoin.

No, what I'm saying is that even if the market cap increases from the current 5426 BTC to 20,000 BTC after the airdrop, we're still looking at a massive price drop

current market cap:

.05225 BTC/AUR x 103,851 AUR = 5426 BTC

4x increase in market cap, given airdrop is successful:

.001885014 BTC/AUR x 10,610,000 AUR = 20,000 BTC

4x increase in market cap, assuming only 10% of Icelanders claim their free money:

.016515277 BTC/AUR x 1,211,000 AUR = 20,000 BTC

No matter how you look at it, there will be a massive drop in price once the airdrop starts (and also prior to it as investors anticipate the drop)

Nobody wants to be left holding the bag when the best case scenario is the price dropping down to ~.02 BTC/AUR

pjviitas

sr. member

Activity: 434

Merit: 250

Quote from: damiano on March 05, 2014, 09:13:29 PM

Quote from: chesthing on March 05, 2014, 09:06:01 PM

I don't give a shit about any of that, all I want to decide is whether aur pump this month has any legs left or is it dead?

Legs have been chopped off.

Even with kgw coming I still dout it

Does bitcoin use KGW for relaxing the difficulty?

balduro

member

Activity: 76

Merit: 10

It is right to raise concerns about what happens to the price when the coins start circulating. Who knows what will happen.

I do however think you are overestimating the pace at which this will happen. Hopefully the infrastructure needed for adoption in Iceland will have time to form and mature in the mean time.

pjviitas

sr. member

Activity: 434

Merit: 250

Quote from: DaFockBro on March 05, 2014, 09:12:06 PM

Quote from: pjviitas on March 05, 2014, 09:07:57 PM

How is market cap calculated?

Price x Number of coins in circulation

Current Auroracoin market cap:

.05225 BTC/AUR x 103,851 AUR = 5426 BTC

So basically what your saying is that when the airdrop happens the market cap will be approximately:

.05225 BTC/AUR x 10,500,000 AUR = 548625 BTC

That's a lot of Bitcoin.

DaFockBro

newbie

Activity: 126

Merit: 0

Quote from: chesthing on March 05, 2014, 09:06:01 PM

I don't give a shit about any of that, all I want to decide is whether aur pump this month has any legs left or is it dead? I already figure it's done after the drop, at least for a good bit.

The massive pump was mainly due to coindesk publishing an extremely deceiving article about Auroracoin. Their sensationally epic pump of an article failed to mention that only 100,000 AUR were in circulation:

http://www.coindesk.com/icelands-auroracoin-passes-litecoin-becomes-third-largest-altcoin-market-cap/

It has taken a few days for investors to realize that they need to dump their AUR now to avoid the crash when the supply quickly inflates by 100x starting on March 25th.

damiano

legendary

Activity: 1246

Merit: 1000

103 days, 21 hours and 10 minutes.

Quote from: chesthing on March 05, 2014, 09:06:01 PM

I don't give a shit about any of that, all I want to decide is whether aur pump this month has any legs left or is it dead?

Legs have been chopped off.

Even with kgw coming I still dout it

DaFockBro

newbie

Activity: 126

Merit: 0

Quote from: pjviitas on March 05, 2014, 09:07:57 PM

How is market cap calculated?

Price x Number of coins in circulation

Current Auroracoin market cap:

.05225 BTC/AUR x 103,851 AUR = 5426 BTC

chesthing

legendary

Activity: 1414

Merit: 1000

Quote from: battbot on March 05, 2014, 09:09:21 PM

Quote from: chesthing on March 05, 2014, 09:06:01 PM

I don't give a shit about any of that, all I want to decide is whether aur pump this month has any legs left or is it dead?

patience. liftoff is imminent.

If you're wrong, cover my losses? lol

battbot

hero member

Activity: 616

Merit: 500

Quote from: chesthing on March 05, 2014, 09:06:01 PM

I don't give a shit about any of that, all I want to decide is whether aur pump this month has any legs left or is it dead?

patience. liftoff is imminent.

pjviitas

sr. member

Activity: 434

Merit: 250

How is market cap calculated?

chesthing

legendary

Activity: 1414

Merit: 1000

I don't give a shit about any of that, all I want to decide is whether aur pump this month has any legs left or is it dead? I already figure it's done after the drop, at least for a good bit.

SeriousCoins14

full member

Activity: 154

Merit: 100

Coinoholic

Quote from: DaFockBro on March 05, 2014, 08:59:39 PM

Quote from: chesthing on March 05, 2014, 08:57:00 PM

Wtf are you talking market cap for? I'm talking about price, you know - how much a coin goes for in btc?

Price is meaningless when comparing cryptos because the number of units in circulation is arbitrarily set by the developers.

Market cap is a much better benchmark for comparing one crypto to another.

We get it. He's saying the market cap is severely inflated due to the fact that only 100k are actually in circulation. The rest are sitting in a little vault, waiting to smash the price to pieces.

DaFockBro

newbie

Activity: 126

Merit: 0

Quote from: chesthing on March 05, 2014, 08:57:00 PM

Wtf are you talking market cap for? I'm talking about price, you know - how much a coin goes for in btc?

Price is meaningless when comparing cryptos because the number of units in circulation is arbitrarily set by the developers.

Market cap is a much better benchmark for comparing one crypto to another.

chesthing

legendary

Activity: 1414

Merit: 1000

Wtf are you talking market cap for? I'm talking about price, you know - how much a coin goes for in btc?

DaFockBro

newbie

Activity: 126

Merit: 0

Quote from: chesthing on March 05, 2014, 08:43:41 PM

That's what ive been trying to explain. Just let the whales shake weak hands, they are eating for the next pump and people that hold and/or buy back will benefit.

Also, what are you using to see the orders? In cryptsy, they aren't showing the complete order list in AUR for some reason..

So is this just intuition or do you have a compelling reason why you think this? sure looks like aur is going to sink into the abyss to me. But then I can't for the life of me understand how it shot to the same price as ltc, sat there for a couple days, then shot to .17. This coin has to set a new pump precedent, still can't believe those who saw a massive profit at .025 didn't cash out.
[/quote]

It never shot up to the same market cap as LTC.

Looking at coinmarketcap.com is deceiving because there are only a little more than 100,000 AUR in circulation right now.

The highest the actual market cap ever got was around 15,000 BTC.

Auroracoin has yet to break into the top 10 coins by market cap.

chesthing

legendary

Activity: 1414

Merit: 1000

That's what ive been trying to explain. Just let the whales shake weak hands, they are eating for the next pump and people that hold and/or buy back will benefit.

Also, what are you using to see the orders? In cryptsy, they aren't showing the complete order list in AUR for some reason..
[/quote]

So is this just intuition or do you have a compelling reason why you think this? sure looks like aur is going to sink into the abyss to me. But then I can't for the life of me understand how it shot to the same price as ltc, sat there for a couple days, then shot to .17. This coin has to set a new pump precedent, still can't believe those who saw a massive profit at .025 didn't cash out.

Dosmas

full member

Activity: 162

Merit: 100

Some serious dynamics in exchange price at Aur/Btc..

P2PHash

full member

Activity: 140

Merit: 100

Hi guys, I'me setting up a new p2pool
Address: aur.p2phash.com

Could some of you try to connect to it, I'd like to test what kind of load my server can handle. Since it's p2pool you won't loose any shares coming from another p2pool and local hashrate doesn't impact your earnings
Low fee: 0.5%
Location: Switzerland (EU)

etoque

legendary

Activity: 1988

Merit: 1000

Quote from: ThePatient on March 05, 2014, 07:52:35 PM

What do you guys think of einsteinium?

very nice ! I mine that from the first day,aurora are to hard I have leave still 1,300 on difficulty

balduro

member

Activity: 76

Merit: 10

Quote from: Maurizio on March 05, 2014, 08:22:07 PM

Quote from: balduro on March 05, 2014, 08:09:29 PM

Quote from: pleiotropik on March 05, 2014, 08:06:00 PM

Where's Balduro?

Here.

Welcome. Hope you got some good news and a kgw update in the pocket at block 4200

The hard fork is at block 5400. It is not feasible to change this now, on such short notice. The will fork happen in about 8-10 days I suspect.

Topic: [ANN][AUR] Auroracoin - a cryptocurrency for Iceland - page 137. (Read 506425 times)