The problem I'm having with this whole thing, much as I love the concept in principle and want to see it succeed, is that the infrastructure isn't in place AT ALL in Iceland for this to be widely adopted as a regular currency. There need to be payment processors and point of sale systems in place and there desperately need to be mobile wallets.
If I were an Icelander, I would be SORELY tempted to cash out for the free money and a thank you very much to the rest of the world, for their economic stimulus. At the very least, if I were aware of Bitcoin, I'd move it immediately into Bitcoin...which DOES have growing infrastructure.
I am not that familiar with what public sentiment is like in Iceland regarding their currency or their government. The site makes it sound pretty bad and so if that feeling is pervasive among all Icelanders, then maybe they'll welcome the chance to ditch their government-issued currency and switch to this. It's a major risk though.
Let's not forget, too, that this coin is being inflated by speculators who are very likely to dump like there's no tomorrow on the eve of the airdrop, or in the days leading up to it. They're pushing it up due to the excitement and hype, because it's easy to drive the markets that way...as Bitcoin has proven. But I think it is VERY likely that a major sell-off is going to happen before it gets distributed to Icelanders.
This might then cause a nice little boom to Bitcoin prices, as the money moves back in from Auroracoin.
Same goes for bitcoin, in which case don't invest your money in this or bitcoin. If I were an Icelander, I would be SORELY tempted to cash out for the free money and a thank you very much to the rest of the world, for their economic stimulus. At the very least, if I were aware of Bitcoin, I'd move it immediately into Bitcoin...which DOES have growing infrastructure.
I am not that familiar with what public sentiment is like in Iceland regarding their currency or their government. The site makes it sound pretty bad and so if that feeling is pervasive among all Icelanders, then maybe they'll welcome the chance to ditch their government-issued currency and switch to this. It's a major risk though.
Let's not forget, too, that this coin is being inflated by speculators who are very likely to dump like there's no tomorrow on the eve of the airdrop, or in the days leading up to it. They're pushing it up due to the excitement and hype, because it's easy to drive the markets that way...as Bitcoin has proven. But I think it is VERY likely that a major sell-off is going to happen before it gets distributed to Icelanders.
This might then cause a nice little boom to Bitcoin prices, as the money moves back in from Auroracoin.
