[ANN][AUR] Auroracoin - a cryptocurrency for Iceland - page 209.

speedhash.eu

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Activity: 84

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Quote from: Honeypot on February 28, 2014, 03:24:14 PM

People do realize that the entire yearly GDP of Iceland is around 12.5 billion USD right?

People realize that this coin is being propagated, no matter how indirectly, as a 'currency replacer' of a NATION STATE by someone who doesn't even come forward with his identity, right?

People do realize that right now the entire BITCOIN market is around 7 billion USD....right?

In other words....Aurora is going to casually 'add' about 3% of its entire GDP (at current prices) over a period of 4 months (supposedly) to a nation state comprising of 340,000 people. About 300 million USD.

Based on a 50% premine that the dev supposedly holds secure, without slowly cashing it out over time, and no one knows who he is. A premine he will supposedly generously distribute for free to the population of the entire nation.

What the hell is wrong with this picture?

Very good analysis

AUR is down to ~ 0.03 BTC from todays top 0.045 BTC.

Nite69

sr. member

Activity: 477

Merit: 500

Quote from: Lordoftherigs on February 28, 2014, 01:13:11 PM

are there any news on the android wallet development ?

Under development..
https://github.com/Nite69/Auroracoin-android-wallet

It's quite stable, but needs some improvements. Feel free to checkout and compile yourself. Since it is not ready, don't send too much coins into it..

Shortly: Wallet is quite stable, blockchain loads, you can send money to your wallet.
Short ToDo: Add KGW, Fix fee calculation, add correct exchange rate sites, improve peer discovery, translations, details..

See more at http://forum.auroracoin.org/

etoque

legendary

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UPDATE thread #1 PLS many more pool

esotericizm

hero member

Activity: 750

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http://aur.ctrlaltdefeated.us open for registration Cheesy

hammer1

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Activity: 73

Merit: 10

Quote from: Honeypot on February 28, 2014, 03:24:14 PM

People do realize that the entire yearly GDP of Iceland is around 12.5 billion USD right?

People realize that this coin is being propagated, no matter how indirectly, as a 'currency replacer' of a NATION STATE by someone who doesn't even come forward with his identity, right?

People do realize that right now the entire BITCOIN market is around 7 billion USD....right?

In other words....Aurora is going to casually 'add' about 3% of its entire GDP (at current prices) over a period of 4 months (supposedly) to a nation state comprising of 340,000 people. About 300 million USD.

Based on a 50% premine that the dev supposedly holds secure, without slowly cashing it out over time, and no one knows who he is. A premine he will supposedly generously distribute for free to the population of the entire nation.

What the hell is wrong with this picture?

SHHHH, stop asking rational questions. lol.

molecular

donator

Activity: 2772

Merit: 1019

wow, traffic (and number of visitors) on http://blockexplorer.auroracoin.eu is soaring.

Thanks for the generous donation, btw!

CharityMiningPools

full member

Activity: 182

Merit: 100

Quote from: speedhash.eu on February 28, 2014, 03:30:03 PM

We just got a question from one of our Miners why is the balance still 0.

Well - the answer is that the total Auroracoin net hashrate is ~ 10 GH/s and each block of 25 AUR is found every 10 minutes. So it takes time to find a block and divide it among Miners. We are a new AUR pool, started only few hours ago but we already have 75 MH/s+ pool hashrate. It still takes a lot of hours to find a block.

On the other hand one block of 25 AUR is worth ~ 1 BTC, so once the block is found, it is very valuable

Join us and help us find our first block

http://aur.speedhash.eu

Well said sir!

speedhash.eu

member

Activity: 84

Merit: 10

We just got a question from one of our Miners why is the balance still 0.

Well - the answer is that the total Auroracoin net hashrate is ~ 10 GH/s and each block of 25 AUR is found every 10 minutes. So it takes time to find a block and divide it among Miners. We are a new AUR pool, started only few hours ago but we already have 75 MH/s+ pool hashrate. It still takes a lot of hours to find a block.

On the other hand one block of 25 AUR is worth ~ 1 BTC, so once the block is found, it is very valuable

Join us and help us find our first block

http://aur.speedhash.eu

Honeypot

sr. member

Activity: 420

Merit: 250

People do realize that the entire yearly GDP of Iceland is around 12.5 billion USD right?

People realize that this coin is being propagated, no matter how indirectly, as a 'currency replacer' of a NATION STATE by someone who doesn't even come forward with his identity, right?

People do realize that right now the entire BITCOIN market is around 7 billion USD....right?

In other words....Aurora is going to casually 'add' about 3% of its entire GDP (at current prices) over a period of 4 months (supposedly) to a nation state comprising of 340,000 people. About 300 million USD.

Based on a 50% premine that the dev supposedly holds secure, without slowly cashing it out over time, and no one knows who he is. A premine he will supposedly generously distribute for free to the population of the entire nation.

What the hell is wrong with this picture?

Croak

member

Activity: 98

Merit: 10

Quote from: molecular on February 28, 2014, 03:13:55 PM

Quote from: MyFarm on February 28, 2014, 12:47:01 PM

I see a lot of posts about people saying the current market cap of Auroracoin isn't real because there is less than 100,000 coins available and all of the premine isn't being taken into account. I come from an investing background with wallstreet. When you look at a stock, you can see two terms:

1. Float - This is the amount of sharing available for trading.
2. Shares Outstanding - This is the total amount of shares a stock has. This includes shares that are unavailable for trading for a variety of reasons.

The value of a stock is based upon the shares outstanding, NOT the float because investors and the market understand that at some point, those locked up shares will become part of the float. If there are very few shares available in the stock, it is said to be, "Illiquid". An illiquid stock can have wild price fluctuations when there is a lot of interest in it.

Auroracoin is illiquid. Its', "Float" is very small (less than $100,000). However, its marketcap which properly takes into account all of the coins (shares) outstanding, IS correct and the market is working to price in the fundamentals and risk associated with all those coins outstanding. As the market continues to evaluate the risk and reward associated with the airdrop, the price will continue to fluctuate.

I PERSONALLY believe a successful airdrop will result in the price being much higher than it is today but that is merely my opinion.

Thanks for you opinion and especially for your insights and explaining some things to the newbs like me.

Can you explain why have a feeling the airdrop will result in a price increase?

In my mind it all depends on reception and use of the currency by the people of Iceland and of course also perception of and speculation on those factors in the future.

I can imagine some savvy Icelanders (bitcoiners) helping their friends and family and others claim their AUR and buy them off them below BTC/AUR market prices. This in turn would probably increase awareness (maybe it would be good if the coins could be claimed (only?) using the android wallet being developed, that way people claiming the coins would have a wallet and figure they might just keep some coins and use them to trade with friends or whatever).

Do you know what a huge percentage of the population of Iceland did before the shit hit the fan in 2008? They traded, they worked the markets hard, and they made a lot of money doing it (credit issues aside). As a country, they understand this sort of thing better than most of the rest of the world. And they're not starving or even hardscrabbling, their overall standard of living is quite good, so many won't feel the need to dump their airdrop to pay this month's rent or feed the kids. They'd probably rather grow it. Should be interesting to see what happens.

molecular

donator

Activity: 2772

Merit: 1019

Quote from: MyFarm on February 28, 2014, 12:47:01 PM

I see a lot of posts about people saying the current market cap of Auroracoin isn't real because there is less than 100,000 coins available and all of the premine isn't being taken into account. I come from an investing background with wallstreet. When you look at a stock, you can see two terms:

1. Float - This is the amount of sharing available for trading.
2. Shares Outstanding - This is the total amount of shares a stock has. This includes shares that are unavailable for trading for a variety of reasons.

The value of a stock is based upon the shares outstanding, NOT the float because investors and the market understand that at some point, those locked up shares will become part of the float. If there are very few shares available in the stock, it is said to be, "Illiquid". An illiquid stock can have wild price fluctuations when there is a lot of interest in it.

Auroracoin is illiquid. Its', "Float" is very small (less than $100,000). However, its marketcap which properly takes into account all of the coins (shares) outstanding, IS correct and the market is working to price in the fundamentals and risk associated with all those coins outstanding. As the market continues to evaluate the risk and reward associated with the airdrop, the price will continue to fluctuate.

I PERSONALLY believe a successful airdrop will result in the price being much higher than it is today but that is merely my opinion.

Thanks for you opinion and especially for your insights and explaining some things to the newbs like me.

Can you explain why have a feeling the airdrop will result in a price increase?

In my mind it all depends on reception and use of the currency by the people of Iceland and of course also perception of and speculation on those factors in the future.

I can imagine some savvy Icelanders (bitcoiners) helping their friends and family and others claim their AUR and buy them off them below BTC/AUR market prices. This in turn would probably increase awareness (maybe it would be good if the coins could be claimed (only?) using the android wallet being developed, that way people claiming the coins would have a wallet and figure they might just keep some coins and use them to trade with friends or whatever).

speedhash.eu

member

Activity: 84

Merit: 10

Quote from: turtoro on February 28, 2014, 03:01:38 PM

So can anyone tell me why the Icelanders are getting free money? They certainly aren't mining it or risking their own founds in speculation. So why is the rest of the world (us) pumping into this? as it will be a localized currency? Huh

Probably because they were first to have this idea. And anything unique is valuable in crypto business Wink

CharityMiningPools

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Activity: 182

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Quote from: esotericizm on February 28, 2014, 03:03:52 PM

Quote from: crypto era on February 28, 2014, 03:00:29 PM

Try to stop talking about pools. leave this thread for conversation about the actual coin.

yep. We could talk around the pools though plus they've kept this thread at the top of page 1 with their spam so thats good Tongue

that's one way to look at it

esotericizm

hero member

Activity: 750

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Quote from: crypto era on February 28, 2014, 03:00:29 PM

Try to stop talking about pools. leave this thread for conversation about the actual coin.

yep. We could talk around the pools though plus they've kept this thread at the top of page 1 with their spam so thats good Tongue

CharityMiningPools

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Activity: 182

Merit: 100

Quote from: hammerbrain on February 28, 2014, 02:49:03 PM

Can you parasites stop spamming the thread?

/rant

My apologizes, no further discussion with the other pool operators will take place.

I'm not in the business of trashing others that are trying to help the community.

turtoro

sr. member

Activity: 364

Merit: 250

So can anyone tell me why the Icelanders are getting free money? They certainly aren't mining it or risking their own founds in speculation. So why is the rest of the world (us) pumping into this? as it will be a localized currency? Huh

flound1129

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Activity: 938

Merit: 1000

www.multipool.us

Multipool has opened an Auroracoin pool on port 3362. 1.5% fee.

Thanks!

crypto era

newbie

Activity: 44

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Try to stop talking about pools. leave this thread for conversation about the actual coin.

dararel

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http://taxi.thecryptonians.com/

hammerbrain

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Quote from: ghettopools on February 28, 2014, 02:51:35 PM

Sure if you'll let me suck some blood!?!?

hhhhmmm...lemme get back to you on that Wink

Topic: [ANN][AUR] Auroracoin - a cryptocurrency for Iceland - page 209. (Read 506425 times)