Didn't read through 100 pages, I'll admit that.
What happens when only 2% of Icelanders make a wallet for the "airdrop" to "cash in"? Where do the other premined coins go?
Topic: [ANN][AUR] Auroracoin - a cryptocurrency for Iceland - page 170. (Read 506425 times)
signed up
Auroracoin is currently the 3rd highest valued coin after 42Coin and Bitcoin
http://coinmarketcap.com
currently priced at $74.17 according to above site, 0.105 BTC on Cryptsy
Until now I hadn't really thought about any other coin reaching BitCoin prices. http://coinmarketcap.com
currently priced at $74.17 according to above site, 0.105 BTC on Cryptsy
Why don't people wait until after the massive sell-off to buy into this? I think it's a great idea, it's just absolute retarded madness to be buying in prior to the airdrop.
At the current price, every single citizen of Iceland will be given $1758 worth of Auroracoin for free during the airdrop.
There will be a massive crash in price as many Icelanders make the rational decision to immediately cash out their $1758.
At the current price, every single citizen of Iceland will be given $1758 worth of Auroracoin for free during the airdrop.
There will be a massive crash in price as many Icelanders make the rational decision to immediately cash out their $1758.
Don't forget that their will be a corresponding spike in Bitcoin sales as they can only cash out their Aurora coins to BTC currently. In order to get $$ they have to then sell their BTC on an exchange. Not saying that all of them will but there will be a trickle down effect. Something to think about.
At the current exchange rate (0.1 BTC) that would equal 1 MILLION BTC if all 10 million Auroracoins are exchanged for BTC and then cashed out. Imagine if you can what this will do to the price of BTC. It will go into freefall as there are not enough buyers in the market to absorb that many sales.
As I don't want to see this poorly thought-out and designed promotion crash Bitcoin, I seriously hope the exchange rate tanks to a miniscule amount before the airdrop. And why the fuck do the people of Iceland get to be handed for free thousands of dollars in crypto coins each that if all cashed out quickly could seriously damage the exchange markets for all cryptocurrencies? Not hating on any Icelanders at all. I just seriously doubt that they give a rats ass about the health of Bitcoin or any other coin and just want the $$. Aurora coin is useless to them otherwise at the moment. They can't buy anything with it and most will likely fear the government will quickly ban it and will want to get what they can before that happens.
Hopefully I am not the only one who actually thinks this whole thing through to likely conclusion. Go ahead and tell me otherwise. I am sure I will hear from someone that this isn't true and I don't understand economics or free markets or some bullshit. I will tell you what I damn sure understand and that is human greed and how it can totally blind someone to the real facts and potential outcomes of their actions.
Auroracoin is currently the 3rd highest valued coin after 42Coin and Bitcoin
http://coinmarketcap.com
currently priced at $74.17 according to above site, 0.105 BTC on Cryptsy
http://coinmarketcap.com
currently priced at $74.17 according to above site, 0.105 BTC on Cryptsy
AUR is slow
premined
and its a scam in the end aka icelanders wont get it.
price is great but thats due to you sheeps and believing in fake stuff.
premined
and its a scam in the end aka icelanders wont get it.
price is great but thats due to you sheeps and believing in fake stuff.
I got a technical question... generally how fast are Aurora transfer?
I was looking to transfer mine from Mintpal to Cryptsy.
So how long will it take for them to get to my wallet (i know cryptsy transfers are slow already)?
Thanks.
I was looking to transfer mine from Mintpal to Cryptsy.
So how long will it take for them to get to my wallet (i know cryptsy transfers are slow already)?
Thanks.
Can someone help please?
Here are my predictions.
1) We have massive pumps to $100-200 per coin
2) Right before the AirDrop there is a massive sell off
3) Enterprising Icelanders get their AirDropped coins and sell as well
4) Media attention goes through the roof
5) Massive buyback, as everyone wants to get AUR at a low price
6) Even more media attention
7) Early Icelanders regret selling and learn to HODL
New Icelanders are wondering why they are missing out on this. Massive fiat dump into crypto.
9) Some level of acceptance in Iceland
10)
11) Profit for all
1) We have massive pumps to $100-200 per coin
2) Right before the AirDrop there is a massive sell off
3) Enterprising Icelanders get their AirDropped coins and sell as well
4) Media attention goes through the roof
5) Massive buyback, as everyone wants to get AUR at a low price
6) Even more media attention
7) Early Icelanders regret selling and learn to HODL
New Icelanders are wondering why they are missing out on this. Massive fiat dump into crypto.9) Some level of acceptance in Iceland
10)
11) Profit for all
I agree that this will happen. It is stupid to buy in now before the airdrop (market flooded with supply - massive selloff)
I will buy in after the airdrop/selloff occurs.
The only reason it is trading so high right now is the supply is artificially constricted.
An analogy: The price of cocaine in the US is artificially high due to the illegality of it constricting the supply. If you gave every single person in the US an ounce of cocaine for free tomorrow, the price of cocaine would crash.
This is basic economics and logic.
Bad example dude...due to the element of addiction you would have a large part of the population that would be chasing the dragon and be willing to pay whatever the price may be for their next fix.
If every single person in the country has an ounce of cocaine, cocaine would no longer be scarce and therefore drop in price.
It would be like corn, the US has a massive supply of corn, so it is extremely cheap.
The airdrop will shift the supply curve waaaayyyy to the right and the price of AUR will drop:
1. Who says that all Icelanders are going to claim on day 1?
2. Who says they are going to sell on day 1?
3. I think most people will keep most of their AUR.
4. I believe there is US$7.6 Billion of trapped investment in Iceland.
Short answer is - no one knows what the airdrop is going to do the price of AUR. But we do know that people's knowledge of cryptos will increase.
They will sell on day 1 to get their FREE $1000+ worth of Bitcoin or fiat. A rational person will know he can get more if he sells before his neighbor sells. This will lead to a selloff. It's basic supply and demand: massive increase in supply will decrease scarcity and drop the price.
I will buy in after the selloff because I believe in the idea. I don't believe in buying now to inevitably get burned though.
WHY government should give DEVELOPER their database?
WHERE developer shown any progress towards gathering anything from government officials at all?
Look at coins like ZEIT where people tend to stay in touch with "real" world, at least by intending to do so.
I see all you talking like "Yeah, every Icelander will receive 30 AURs" etc. but where any .gov site saying THERE WILL BE ANY EVENT HAPPENING?
https://www.google.com/search?q=iceland+government&tbm=nws NOTHING
EVEN if dev will distribute money among 100 closest friends/neighbours the reason of keeping other 10 MILLION + AURs stays intact:
All coins will eventually be dumped hard. And you will never know if it was a citizen dumping his 30 AURs or dev, what we will see at the end of the day will be falling numbers.
Actually, it will be very easy:
Quote
Mr Odinsson said the project was possible thanks to an earlier government initiative that assigned a national ID number to every citizen. The ID numbers can be queried via a public database that would help the Auroracoin project to verify that people are getting only their fair share of coins.
http://www.bbc.com/news/technology-26083733
Gonna go out on a limb here and say there will not be said "airdrop" and we will not have the entire population of Iceland dumping AUR for BTC's. But, this definately has been a fun game the past few days, made a few btc's myself.
LOL @ people who don't think this is a pump and dump...
Here are my predictions.
1) We have massive pumps to $100-200 per coin
2) Right before the AirDrop there is a massive sell off
3) Enterprising Icelanders get their AirDropped coins and sell as well
4) Media attention goes through the roof
5) Massive buyback, as everyone wants to get AUR at a low price
6) Even more media attention
7) Early Icelanders regret selling and learn to HODL
New Icelanders are wondering why they are missing out on this. Massive fiat dump into crypto.
9) Some level of acceptance in Iceland
10)
11) Profit for all
1) We have massive pumps to $100-200 per coin
2) Right before the AirDrop there is a massive sell off
3) Enterprising Icelanders get their AirDropped coins and sell as well
4) Media attention goes through the roof
5) Massive buyback, as everyone wants to get AUR at a low price
6) Even more media attention
7) Early Icelanders regret selling and learn to HODL
New Icelanders are wondering why they are missing out on this. Massive fiat dump into crypto.9) Some level of acceptance in Iceland
10)
11) Profit for all
I agree that this will happen. It is stupid to buy in now before the airdrop (market flooded with supply - massive selloff)
I will buy in after the airdrop/selloff occurs.
The only reason it is trading so high right now is the supply is artificially constricted.
An analogy: The price of cocaine in the US is artificially high due to the illegality of it constricting the supply. If you gave every single person in the US an ounce of cocaine for free tomorrow, the price of cocaine would crash.
This is basic economics and logic.
Bad example dude...due to the element of addiction you would have a large part of the population that would be chasing the dragon and be willing to pay whatever the price may be for their next fix.
If every single person in the country has an ounce of cocaine, cocaine would no longer be scarce and therefore drop in price.
It would be like corn, the US has a massive supply of corn, so it is extremely cheap.
The airdrop will shift the supply curve waaaayyyy to the right and the price of AUR will drop:
1. Who says that all Icelanders are going to claim on day 1?
2. Who says they are going to sell on day 1?
3. I think most people will keep most of their AUR.
4. I believe there is US$7.6 Billion of trapped investment in Iceland.
Short answer is - no one knows what the airdrop is going to do the price of AUR. But we do know that people's knowledge of cryptos will increase.
They will sell on day 1 to get their FREE $1000+ worth of Bitcoin or fiat. A rational person will know he can get more if he sells before his neighbor sells. This will lead to a selloff. It's basic supply and demand: massive increase in supply will decrease scarcity and drop the price.
I will buy in after the selloff because I believe in the idea. I don't believe in buying now to inevitably get burned though.
WHY government should give DEVELOPER their database?
WHERE developer shown any progress towards gathering anything from government officials at all?
Look at coins like ZEIT where people tend to stay in touch with "real" world, at least by intending to do so.
I see all you talking like "Yeah, every Icelander will receive 30 AURs" etc. but where any .gov site saying THERE WILL BE ANY EVENT HAPPENING?
https://www.google.com/search?q=iceland+government&tbm=nws NOTHING
EVEN if dev will distribute money among 100 closest friends/neighbours the reason of keeping other 10 MILLION + AURs stays intact:
All coins will eventually be dumped hard. And you will never know if it was a citizen dumping his 30 AURs or dev, what we will see at the end of the day will be falling numbers.
Such speculation,so crystal balls
Anyways,nobody know for now.
So where do we mine? I see all pools have mined 0 in the last hour, and almost all pools 0 the last 24hours. Who is finding the blocks?
mine at CrunchPool, the only p2pool node that scales:http://p2pool.crunchpool.com:12347
We're the biggest node and still above 104%efficiency
0% fee for 24 hours after next block is found at http://aur.scrypthp.com. Also join Atomic-Trade for AUR/USD direct trading!
Here are my predictions.
1) We have massive pumps to $100-200 per coin
2) Right before the AirDrop there is a massive sell off
3) Enterprising Icelanders get their AirDropped coins and sell as well
4) Media attention goes through the roof
5) Massive buyback, as everyone wants to get AUR at a low price
6) Even more media attention
7) Early Icelanders regret selling and learn to HODL
New Icelanders are wondering why they are missing out on this. Massive fiat dump into crypto.
9) Some level of acceptance in Iceland
10)
11) Profit for all
1) We have massive pumps to $100-200 per coin
2) Right before the AirDrop there is a massive sell off
3) Enterprising Icelanders get their AirDropped coins and sell as well
4) Media attention goes through the roof
5) Massive buyback, as everyone wants to get AUR at a low price
6) Even more media attention
7) Early Icelanders regret selling and learn to HODL
New Icelanders are wondering why they are missing out on this. Massive fiat dump into crypto.9) Some level of acceptance in Iceland
10)
11) Profit for all
I agree that this will happen. It is stupid to buy in now before the airdrop (market flooded with supply - massive selloff)
I will buy in after the airdrop/selloff occurs.
The only reason it is trading so high right now is the supply is artificially constricted.
An analogy: The price of cocaine in the US is artificially high due to the illegality of it constricting the supply. If you gave every single person in the US an ounce of cocaine for free tomorrow, the price of cocaine would crash.
This is basic economics and logic.
Bad example dude...due to the element of addiction you would have a large part of the population that would be chasing the dragon and be willing to pay whatever the price may be for their next fix.
If every single person in the country has an ounce of cocaine, cocaine would no longer be scarce and therefore drop in price.
It would be like corn, the US has a massive supply of corn, so it is extremely cheap.
The airdrop will shift the supply curve waaaayyyy to the right and the price of AUR will drop:
1. Who says that all Icelanders are going to claim on day 1?
2. Who says they are going to sell on day 1?
3. I think most people will keep most of their AUR.
4. I believe there is US$7.6 Billion of trapped investment in Iceland.
Short answer is - no one knows what the airdrop is going to do the price of AUR. But we do know that people's knowledge of cryptos will increase.
They will sell on day 1 to get their FREE $1000+ worth of Bitcoin or fiat. A rational person will know he can get more if he sells before his neighbor sells. This will lead to a selloff. It's basic supply and demand: massive increase in supply will decrease scarcity and drop the price.
I will buy in after the selloff because I believe in the idea. I don't believe in buying now to inevitably get burned though.
WHY government should give DEVELOPER their database?
WHERE developer shown any progress towards gathering anything from government officials at all?
Look at coins like ZEIT where people tend to stay in touch with "real" world, at least by intending to do so.
I see all you talking like "Yeah, every Icelander will receive 30 AURs" etc. but where any .gov site saying THERE WILL BE ANY EVENT HAPPENING?
https://www.google.com/search?q=iceland+government&tbm=nws NOTHING
EVEN if dev will distribute money among 100 closest friends/neighbours the reason of keeping other 10 MILLION + AURs stays intact:
All coins will eventually be dumped hard. And you will never know if it was a citizen dumping his 30 AURs or dev, what we will see at the end of the day will be falling numbers.
Here are my predictions.
1) We have massive pumps to $100-200 per coin
2) Right before the AirDrop there is a massive sell off
3) Enterprising Icelanders get their AirDropped coins and sell as well
4) Media attention goes through the roof
5) Massive buyback, as everyone wants to get AUR at a low price
6) Even more media attention
7) Early Icelanders regret selling and learn to HODL
New Icelanders are wondering why they are missing out on this. Massive fiat dump into crypto.
9) Some level of acceptance in Iceland
10)
11) Profit for all
1) We have massive pumps to $100-200 per coin
2) Right before the AirDrop there is a massive sell off
3) Enterprising Icelanders get their AirDropped coins and sell as well
4) Media attention goes through the roof
5) Massive buyback, as everyone wants to get AUR at a low price
6) Even more media attention
7) Early Icelanders regret selling and learn to HODL
New Icelanders are wondering why they are missing out on this. Massive fiat dump into crypto.9) Some level of acceptance in Iceland
10)
11) Profit for all
I agree that this will happen. It is stupid to buy in now before the airdrop (market flooded with supply - massive selloff)
I will buy in after the airdrop/selloff occurs.
The only reason it is trading so high right now is the supply is artificially constricted.
An analogy: The price of cocaine in the US is artificially high due to the illegality of it constricting the supply. If you gave every single person in the US an ounce of cocaine for free tomorrow, the price of cocaine would crash.
This is basic economics and logic.
Bad example dude...due to the element of addiction you would have a large part of the population that would be chasing the dragon and be willing to pay whatever the price may be for their next fix.
If every single person in the country has an ounce of cocaine, cocaine would no longer be scarce and therefore drop in price.
It would be like corn, the US has a massive supply of corn, so it is extremely cheap.
The airdrop will shift the supply curve waaaayyyy to the right and the price of AUR will drop:
http://i.imgur.com/vDXHAbf.png
1. Who says that all Icelanders are going to claim on day 1?
2. Who says they are going to sell on day 1?
3. I think most people will keep most of their AUR.
4. I believe there is US$7.6 Billion of trapped investment in Iceland.
Short answer is - no one knows what the airdrop is going to do the price of AUR. But we do know that people's knowledge of cryptos will increase.
They will sell on day 1 to get their FREE $1000+ worth of Bitcoin or fiat. A rational person will know he can get more if he sells before his neighbor sells. This will lead to a selloff. It's basic supply and demand: massive increase in supply will decrease scarcity and drop the price.
I will buy in after the selloff because I believe in the idea. I don't believe in buying now to inevitably get burned though.
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I think the price will past bitcoin in a few days, Chineese ppl buying too much ...
seems that wolong is in this too.. http://pastebin.com/xCTa498H
How you get this logs?
i was wondering how come the price was increasing like crazy. No wonder the name 'Wolong' appears again.
Will this self acclaimed 'God of Crypto' ever stop? Not trying to create any negativity, but be very careful guys; do not invest BTC's which you cant afford to loose.
I am no expert, but I've seen the name 'Wolong' in the biggest coin dumps. Peace.
From the pastebin chat it appears Wolong&friends are just trading the coin (one among others, they also talke about GLC), and that chat is quite old, as they were talking about a 0.05 price for AUR.
I doubt he could crash the coin if he wanted to.
He may responsible, among others, for the pump+dump s on cryptsy though.
I think the price will past bitcoin in a few days, Chineese ppl buying too much ...
seems that wolong is in this too.. http://pastebin.com/xCTa498H
How you get this logs?
i was wondering how come the price was increasing like crazy. No wonder the name 'Wolong' appears again.
Will this self acclaimed 'God of Crypto' ever stop? Not trying to create any negativity, but be very careful guys; do not invest BTC's which you cant afford to loose.
I am no expert, but I've seen the name 'Wolong' in the biggest coin dumps. Peace.
Here are my predictions.
1) We have massive pumps to $100-200 per coin
2) Right before the AirDrop there is a massive sell off
3) Enterprising Icelanders get their AirDropped coins and sell as well
4) Media attention goes through the roof
5) Massive buyback, as everyone wants to get AUR at a low price
6) Even more media attention
7) Early Icelanders regret selling and learn to HODL
New Icelanders are wondering why they are missing out on this. Massive fiat dump into crypto.
9) Some level of acceptance in Iceland
10)
11) Profit for all
1) We have massive pumps to $100-200 per coin
2) Right before the AirDrop there is a massive sell off
3) Enterprising Icelanders get their AirDropped coins and sell as well
4) Media attention goes through the roof
5) Massive buyback, as everyone wants to get AUR at a low price
6) Even more media attention
7) Early Icelanders regret selling and learn to HODL
New Icelanders are wondering why they are missing out on this. Massive fiat dump into crypto.9) Some level of acceptance in Iceland
10)
11) Profit for all
I agree that this will happen. It is stupid to buy in now before the airdrop (market flooded with supply - massive selloff)
I will buy in after the airdrop/selloff occurs.
The only reason it is trading so high right now is the supply is artificially constricted.
An analogy: The price of cocaine in the US is artificially high due to the illegality of it constricting the supply. If you gave every single person in the US an ounce of cocaine for free tomorrow, the price of cocaine would crash.
This is basic economics and logic.
Bad example dude...due to the element of addiction you would have a large part of the population that would be chasing the dragon and be willing to pay whatever the price may be for their next fix.
If every single person in the country has an ounce of cocaine, cocaine would no longer be scarce and therefore drop in price.
It would be like corn, the US has a massive supply of corn, so it is extremely cheap.
The airdrop will shift the supply curve waaaayyyy to the right and the price of AUR will drop:
1. Who says that all Icelanders are going to claim on day 1?
2. Who says they are going to sell on day 1?
3. I think most people will keep most of their AUR.
4. I believe there is US$7.6 Billion of trapped investment in Iceland.
Short answer is - no one knows what the airdrop is going to do the price of AUR. But we do know that people's knowledge of cryptos will increase.
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