[ANN][AUR] Auroracoin - a cryptocurrency for Iceland - page 43.

rocanonz

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Activity: 131

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Quote from: molecular on November 15, 2014, 09:21:47 AM

Quote from: Skarfur on November 15, 2014, 08:47:50 AM

The whole idea of Auroracoin is not to develop or enhance a technology but to get cryptocurrency accepted and used by the public. So this is why we think it's just best to piggyback an established technology like you said and focus on public acceptance and adoption.

I myself was one of those left uneasy after the last airdrop. I think the change was a mistake in many ways but I do understand what he was trying to do. He was trying to give the amount distributed to each individual enough value (the market rate at the time) to make it tempting for people to fetch the second batch. The second thing that was changed there is that he took 1milion aur and gave it to the Icelandic Cryptocurrency Society (ICS) group for bounties and development of the coin. Both of these were a mistake in my opinion. To increase the airdrop portion tenfold was a bit of a kick in the face for the miners and all long term supporters as this greatly devalued the coin at the time. Then I think that taking a million of the premine and to put it up for development etc. has a lot of dangers in it. I know that this million is in safe hands though so I do not worry about it myself at the time but eventually the ICS will have to decide what to do with this million. This is a ground for all kind of debate and I would love to hear some of it here.

The airdrop blueprint clearly states: "The right is reserved to repeat the Airdrop reset stages as many times as necessary to get the coins into circulation, as well as any other measure intended for the same purpose." But what now? What comes next?
I guess the airdrop will continue as stated in the airdrop blueprint.

Skarfur

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Activity: 258

Merit: 250

Quote from: dinobotta on November 15, 2014, 10:19:29 AM

I think security for the coin should be the main focus. If that means its best to drop the scrypt mining and make it possible to merge mine it with other coins I'm all for it. My only concern is whether this will have any effect on the end user during the forking. Will the normal Icelander that has no idea what is going on have to update all wallets or will they just continue to use their old wallets?

Little bit off topic but is the final airdrop planned 25th of November?

As I understand things it is not required but desired. The blockchain remains the same even if you are not on the most up to date client. Exchanges and mining pools on the other hand are required to update to the latest version.

The final phase of the airdrop should be on 25th of November according to the blueprint. Unfortunately I stand in the same place as you when it comes to that as our group really has no power over this. However I see no reason why it would not go forth on that date as Balduro started the second phase on time.

Skarfur

sr. member

Activity: 258

Merit: 250

Quote from: molecular on November 15, 2014, 09:21:47 AM

Quote from: Skarfur on November 15, 2014, 08:47:50 AM

The whole idea of Auroracoin is not to develop or enhance a technology but to get cryptocurrency accepted and used by the public. So this is why we think it's just best to piggyback an established technology like you said and focus on public acceptance and adoption.

I agree 100%.

Of course this is a little early now. I think we could go with the current chain for some more time until momentum is gained and there's enough enthusiasm to migrate mobile wallets and whatnot to the new solution. Of course distribution would have to be copied from classicAUR, otherwise all trust is destroyed. The 'classic' chain would probably live on and there would be some confusion about why there are 2 versions of AUR now. So it needs to be prepared well with a broad consensus and awareness of the migration. altcoin exchanges would have to be in the boat, too.

It's really refreshing to see you are making plans for AUR. I agree that a direct fiat exchange to ISK is extremely helpful.

Now as you said, there are many questions and I hope you can answer some:

Can you elaborate a bit about the regulatory hurdles for setting up the fiat exchange in Iceland? I'm guessing there would be quite a few, given the capital controls and all that. What are the dangers here (bankster-driven government clampdown or some shit once AUR gains traction and becomes a danger for the established monetary system)?
Balduro still controls the majority of AUR in the premined addresses, I assume. The airdrop will need to end at some point. Can he be convinced to destroy coins or give up control of them when time comes to end the airdrop?
airdrop plans: Last change of airdrop plan was unexpected and seemed arbitrary and random. There was no communication and the auroracoin.org airdrop pages still contain the old plan. This has left me (and probably many others) with an uneasy feeling about the future of the premined coins. Do you have any idea of how this might develop?

let me also offer my general help with things: I don't have much time on my hand, but I'd be willing to donate some work or whatever. Just drop me a line.

Also: I run http://blockexplorer.auroracoin.eu. Should your plans to acquire auroracoin.org fail, this might be an option. I know it's not the best one by far, but let me offer to donate auroracoin.eu to you should you want it as long as I get to host subdomain blockexplorer.auroracoin.eu.

thanks for your enthusiasm and work!
molec

Yes the fork would always needed to be well planed, coordinated and executed with caution.

The regulatory hurdles for the exchange were actually none. We have sent official inquiry to the central bank, tax office and the financial administration. The answers from them were all the same. They don't really have any regulations regarding this. The main restriction Icelandic people have is that we have currency restrictions so we do not get an exception to those restriction to purchase foreign currency for the sole purpose to buy cryptocurrency. We also have a return policy on foreign currency. If we acquire some foreign currency we are bound to trade it back to isk within a time limit. So there are only two ways for Icelandic people to get crypto currency legally. First is to mine it and the second is to buy it with isk. That is why Auroracoin and this airdrop was important here.

No institution here has formed any regulation regarding cryptocurrency, they are just waiting for EU to form some regulations and most likely will implement them partially or fully when they arrive. Since there are no regulations for it they defined it not as a currency but as a property. So it is treated and taxed as such. For this reason we do not have any problems with setting up the exchange here. It would be just the same as setting up a trading site for stamps.

There are a couple of dangers. First is that the banks would see this as a threat and would refuse to keep an bank account for the exchange and second is that the government would see auroracoin to be a treat to stability and would try to stop it by closing the exchange/s with regulations or that the government implements the same regulations as EU and those regulations would bring some limitations.
Regarding Balduro and the premine. I have no reason at all to believe that he would not destroy the airdrop when the distribution period comes to an end. Beside the changes of the second phase airdrop he has not proved to be dishonest regarding the premine.
I myself was one of those left uneasy after the last airdrop. I think the change was a mistake in many ways but I do understand what he was trying to do. He was trying to give the amount distributed to each individual enough value (the market rate at the time) to make it tempting for people to fetch the second batch. The second thing that was changed there is that he took 1milion aur and gave it to the Icelandic Cryptocurrency Society (ICS) group for bounties and development of the coin. Both of these were a mistake in my opinion. To increase the airdrop portion tenfold was a bit of a kick in the face for the miners and all long term supporters as this greatly devalued the coin at the time. Then I think that taking a million of the premine and to put it up for development etc. has a lot of dangers in it. I know that this million is in safe hands though so I do not worry about it myself at the time but eventually the ICS will have to decide what to do with this million. This is a ground for all kind of debate and I would love to hear some of it here.

All help is appreciated and thanks for offering the auroracoin.eu domain if we cant get the .org one. Now we are just coming out with our plans. They are not fully complete nor do we have all the resources we need to do this alone. This is a community project and I would love to see more of the community stand up and work together on this. As this is not about money as so many seem to think, it is about our freedom. Sounds cheesy but that is my opinion on what cryptocurrency is really about.

I hope this answers your questions but I'm sure I have raised a few others

dinobotta

full member

Activity: 248

Merit: 100

I think security for the coin should be the main focus. If that means its best to drop the scrypt mining and make it possible to merge mine it with other coins I'm all for it. My only concern is whether this will have any effect on the end user during the forking. Will the normal Icelander that has no idea what is going on have to update all wallets or will they just continue to use their old wallets?

Little bit off topic but is the final airdrop planned 25th of November?

Skarfur

sr. member

Activity: 258

Merit: 250

Quote from: Bimmerhead on November 15, 2014, 08:35:07 AM

Would merged-mining have any impact on AUR transaction fees?

Maybe not the best explanation but I'm not the expert on this matter myself but as I understand it transactions fees would not change. The AuxPoW works on two separate blockchains and its just about the miners on the parent chain being able to generate blocks for the secondary chain while hashing to solve blocks for the parent chain. Other than that things stay the same.

molecular

donator

Activity: 2772

Merit: 1019

Quote from: rocanonz on November 14, 2014, 02:33:24 PM

The national currency is the strongest brand of a country, for those who are using the currency daily. Auroracoin is a Icelandic currency and I will not dilute that by merged mining, if there is another way to secure the coin.

20 years from now I will be pleasantly surprised to hear that Auroracoin is mined only in Iceland with clean, green energy. And the mining profit is invested back in green projects around the world. So instead of more aluminum you are producing more freedom.
A deal with industrial miners based in Iceland can be a way to archive that.

Can you (or anyone else) explain how merged mining would be diluting the fact that Auroracoin is a Icelandic currency?

It's already mined outside Iceland for the most part, I assume and frankly I don't understand why that's a problem or how it could be avoided.

I share your love for freedom and the idea of AUR being mined with green energy in Iceland, but I don't see how this can (or should) be forced. If it makes sense it will be done, if not, AUR might be mined with 'dirty energy' in China.

I suggested earlier to move the focus away from mining and rather piggyback onto some higher security. If AUR is only mined in Iceland (for some reason), it seems to me if it's a success, that will not be high enough security and it'd be vulnerable to attack. Why risk that?

It's not about mining, it's about freedom.

molecular

donator

Activity: 2772

Merit: 1019

Quote from: Skarfur on November 15, 2014, 08:47:50 AM

The whole idea of Auroracoin is not to develop or enhance a technology but to get cryptocurrency accepted and used by the public. So this is why we think it's just best to piggyback an established technology like you said and focus on public acceptance and adoption.

I agree 100%.

Of course this is a little early now. I think we could go with the current chain for some more time until momentum is gained and there's enough enthusiasm to migrate mobile wallets and whatnot to the new solution. Of course distribution would have to be copied from classicAUR, otherwise all trust is destroyed. The 'classic' chain would probably live on and there would be some confusion about why there are 2 versions of AUR now. So it needs to be prepared well with a broad consensus and awareness of the migration. altcoin exchanges would have to be in the boat, too.

It's really refreshing to see you are making plans for AUR. I agree that a direct fiat exchange to ISK is extremely helpful.

Now as you said, there are many questions and I hope you can answer some:

Can you elaborate a bit about the regulatory hurdles for setting up the fiat exchange in Iceland? I'm guessing there would be quite a few, given the capital controls and all that. What are the dangers here (bankster-driven government clampdown or some shit once AUR gains traction and becomes a danger for the established monetary system)?
Balduro still controls the majority of AUR in the premined addresses, I assume. The airdrop will need to end at some point. Can he be convinced to destroy coins or give up control of them when time comes to end the airdrop?
airdrop plans: Last change of airdrop plan was unexpected and seemed arbitrary and random. There was no communication and the auroracoin.org airdrop pages still contain the old plan. This has left me (and probably many others) with an uneasy feeling about the future of the premined coins. Do you have any idea of how this might develop?

let me also offer my general help with things: I don't have much time on my hand, but I'd be willing to donate some work or whatever. Just drop me a line.

Also: I run http://blockexplorer.auroracoin.eu. Should your plans to acquire auroracoin.org fail, this might be an option. I know it's not the best one by far, but let me offer to donate auroracoin.eu to you should you want it as long as I get to host subdomain blockexplorer.auroracoin.eu.

thanks for your enthusiasm and work!
molec

Skarfur

sr. member

Activity: 258

Merit: 250

Quote from: molecular on November 15, 2014, 08:15:50 AM

Quote from: Skarfur on November 14, 2014, 07:58:35 AM

We have however not fully decided what direction we should take regarding the mining algo. This has been discussed back and forth. What I hope to see here is some discussion and opinions from the community. As we see it there are just two options to think about. Use an algo that is asic resistant and thus give the individual a chance to do some mining at home. This however is often an illusion as most of the asic resistant algo's are largely mined my gpu mining farms thus beating the point. Of course there might be other algo's out there that are gpu resistant but how reliable are they? The other option is to either go with SHA-256 or continue with scrypt and be mined mainly be the large mining farms. This option in many ways is good as it has much more potential to secure the network so we have been leaning towards this. This would also give us a good opportunity to be merge mined with some of the larger coins which would be a brilliant way to secure the network. It would be great to get some opinions and ideas from you guys regarding this matter.

I'm leaning towards sha-256.

Yes, it's a nice idea to think that icelandic population could home-mine with something "asic-proof", but I think it's a pipe dream that wont last long.

The goal of getting AUR into the hands of icelanders is already achieved by the airdrop, so I'd focus on simplicity and proven tech regarding mining algo: sha-256.

In the long run, I think it could even make sense to migrate AUR off its own chain into a merge-mined btc sidechain or onto ethereum or something along those lines. After all, AUR is not about some mining (or other technological) innovation, it's about Iceland and the people there. So why not piggyback on some established tech and use the security offered there?

just my 0.02

I agree with that. I think no matter how much effort is put into making a crypto asic-resistant as I really don't believe there is really a good way to make it asic-proof, only way's to delay the inevitable.

The whole idea of Auroracoin is not to develop or enhance a technology but to get cryptocurrency accepted and used by the public. So this is why we think it's just best to piggyback an established technology like you said and focus on public acceptance and adoption.

Bimmerhead

legendary

Activity: 1291

Merit: 1000

Would merged-mining have any impact on AUR transaction fees?

Skarfur

sr. member

Activity: 258

Merit: 250

Quote from: murraypaul on November 15, 2014, 07:51:15 AM

Quote from: Skarfur on November 14, 2014, 07:58:35 AM

For those of you who are wondering why Auroracoin came to a halt in Iceland, the answer is very simple.

...
there was no actual demand for them from normal Icelanders, and no way to spend them on anything useful?

There were a lot of buying and selling stuff in the beginning but this was mostly done through social media and no real way to realise the currency's value. That is why the exchange is so important. If merchants have the ability to convert aur into isk they would be more willing to accept aur as payment.

molecular

donator

Activity: 2772

Merit: 1019

Quote from: Skarfur on November 14, 2014, 07:58:35 AM

We have however not fully decided what direction we should take regarding the mining algo. This has been discussed back and forth. What I hope to see here is some discussion and opinions from the community. As we see it there are just two options to think about. Use an algo that is asic resistant and thus give the individual a chance to do some mining at home. This however is often an illusion as most of the asic resistant algo's are largely mined my gpu mining farms thus beating the point. Of course there might be other algo's out there that are gpu resistant but how reliable are they? The other option is to either go with SHA-256 or continue with scrypt and be mined mainly be the large mining farms. This option in many ways is good as it has much more potential to secure the network so we have been leaning towards this. This would also give us a good opportunity to be merge mined with some of the larger coins which would be a brilliant way to secure the network. It would be great to get some opinions and ideas from you guys regarding this matter.

I'm leaning towards sha-256.

Yes, it's a nice idea to think that icelandic population could home-mine with something "asic-proof", but I think it's a pipe dream that wont last long.

The goal of getting AUR into the hands of icelanders is already achieved by the airdrop, so I'd focus on simplicity and proven tech regarding mining algo: sha-256.

In the long run, I think it could even make sense to migrate AUR off its own chain into a merge-mined btc sidechain or onto ethereum or something along those lines. After all, AUR is not about some mining (or other technological) innovation, it's about Iceland and the people there. So why not piggyback on some established tech and use the security offered there?

just my 0.02

molecular

donator

Activity: 2772

Merit: 1019

Quote from: javierbaco on November 14, 2014, 07:13:04 AM

No need for words Lips sealed

looks like accumulation to me.

someone's buying... but why?

murraypaul

sr. member

Activity: 476

Merit: 250

Quote from: Skarfur on November 14, 2014, 07:58:35 AM

For those of you who are wondering why Auroracoin came to a halt in Iceland, the answer is very simple.

...
there was no actual demand for them from normal Icelanders, and no way to spend them on anything useful?

smalltimer

sr. member

Activity: 252

Merit: 250

aurora pumpin'? What's up? Whales finally managed to corner the market? Good thing. Let's go. 5$ at least.

Skarfur

sr. member

Activity: 258

Merit: 250

Quote from: rocanonz on November 14, 2014, 02:33:24 PM

Quote from: Skarfur on November 14, 2014, 08:29:15 AM

Quote from: Bimmerhead on November 14, 2014, 08:10:55 AM

Skarfur thank you for the update, this is really good to hear.

Quote from: Skarfur on November 14, 2014, 07:58:35 AM

We have however not fully decided what direction we should take regarding the mining algo. This has been discussed back and forth. What I hope to see here is some discussion and opinions from the community. As we see it there are just two options to think about. Use an algo that is asic resistant and thus give the individual a chance to do some mining at home. This however is often an illusion as most of the asic resistant algo's are largely mined my gpu mining farms thus beating the point. Of course there might be other algo's out there that are gpu resistant but how reliable are they? The other option is to either go with SHA-256 or continue with scrypt and be mined mainly be the large mining farms. This option in many ways is good as it has much more potential to secure the network so we have been leaning towards this. This would also give us a good opportunity to be merge mined with some of the larger coins which would be a brilliant way to secure the network. It would be great to get some opinions and ideas from you guys regarding this matter.

Well I think this is enough for now. I just wanted to let you all know that this is being worked on and that all of you are invited to take part in this great project. I'm sure there will be a lot of questions and I will try my best to answer them.

I'd like to see merged mining with bitcoin or litecoin. While I understand the attraction of mining, I think security of the network is paramount. I would think Icelanders especially want to know that their currency is not going to be attacked. Auroracoin is especially vulnerable on this issue because of the threat of attack back in the spring.

Yes that is my own opinion and it's good to get some feedback from you guys regarding this. If someone disagrees on that it would be great to hear why.

The national currency is the strongest brand of a country, for those who are using the currency daily. Auroracoin is a Icelandic currency and I will not dilute that by merged mining, if there is another way to secure the coin.

20 years from now I will be pleasantly surprised to hear that Auroracoin is mined only in Iceland with clean, green energy. And the mining profit is invested back in green projects around the world. So instead of more aluminum you are producing more freedom.
A deal with industrial miners based in Iceland can be a way to archive that.

I understand your idea on that but I think that is very unlikely to happen. Crypto mining will always be borderless so there is no controlling who is mining and from where. So as long as there are exchanges offering Auroracoin paired with anything else than isk there will be miners from around the world mining and trading it. But on the bright side the largest mining farms for sha256 and scrypt are increasingly looking towards Iceland to set up their mining farms. For instance around 20% of bitcoin is mined in Iceland today and our hosting companies can't build the facilities for mining fast enough as the demand is so high.

If anyone would have some ideas on how mining could be done mainly by the Icelandic public without costing the network security we would of course be more than happy to listen and consider those ideas.

rocanonz

full member

Activity: 131

Merit: 100

Quote from: serje on November 14, 2014, 02:38:48 PM

I have a feeling that I will die with my 11 Auroras!

))
because i want to sell them for 1.1BTC

)

I understand your feeling so well because I had it few times, but now it's gone Wink

I heard a rumor that those who kept their auroracoins till they die, will be billionaires in heaven. And you are really lucky! The minimum amount to qualify for this is 11 Aurora

)))

serje

legendary

Activity: 1232

Merit: 1002

I have a feeling that I will die with my 11 Auroras!

))
because i want to sell them for 1.1BTC

)

rocanonz

full member

Activity: 131

Merit: 100

Quote from: Skarfur on November 14, 2014, 08:29:15 AM

Quote from: Bimmerhead on November 14, 2014, 08:10:55 AM

Skarfur thank you for the update, this is really good to hear.

Quote from: Skarfur on November 14, 2014, 07:58:35 AM

We have however not fully decided what direction we should take regarding the mining algo. This has been discussed back and forth. What I hope to see here is some discussion and opinions from the community. As we see it there are just two options to think about. Use an algo that is asic resistant and thus give the individual a chance to do some mining at home. This however is often an illusion as most of the asic resistant algo's are largely mined my gpu mining farms thus beating the point. Of course there might be other algo's out there that are gpu resistant but how reliable are they? The other option is to either go with SHA-256 or continue with scrypt and be mined mainly be the large mining farms. This option in many ways is good as it has much more potential to secure the network so we have been leaning towards this. This would also give us a good opportunity to be merge mined with some of the larger coins which would be a brilliant way to secure the network. It would be great to get some opinions and ideas from you guys regarding this matter.

Well I think this is enough for now. I just wanted to let you all know that this is being worked on and that all of you are invited to take part in this great project. I'm sure there will be a lot of questions and I will try my best to answer them.

I'd like to see merged mining with bitcoin or litecoin. While I understand the attraction of mining, I think security of the network is paramount. I would think Icelanders especially want to know that their currency is not going to be attacked. Auroracoin is especially vulnerable on this issue because of the threat of attack back in the spring.

Yes that is my own opinion and it's good to get some feedback from you guys regarding this. If someone disagrees on that it would be great to hear why.

The national currency is the strongest brand of a country, for those who are using the currency daily. Auroracoin is a Icelandic currency and I will not dilute that by merged mining, if there is another way to secure the coin.

20 years from now I will be pleasantly surprised to hear that Auroracoin is mined only in Iceland with clean, green energy. And the mining profit is invested back in green projects around the world. So instead of more aluminum you are producing more freedom.
A deal with industrial miners based in Iceland can be a way to archive that.

javierbaco

full member

Activity: 172

Merit: 117

Quote from: Bimmerhead on November 14, 2014, 08:06:18 AM

Quote from: javierbaco on November 14, 2014, 07:13:04 AM

No need for words Lips sealed

Actually I'd really appreciate some words, since I don't know much about technical analysis. Is this bullish or bearish?

I'm surprised your question. Of course it is bullish Wink

Skarfur

sr. member

Activity: 258

Merit: 250

Quote from: Bimmerhead on November 14, 2014, 08:10:55 AM

Skarfur thank you for the update, this is really good to hear.

Quote from: Skarfur on November 14, 2014, 07:58:35 AM

We have however not fully decided what direction we should take regarding the mining algo. This has been discussed back and forth. What I hope to see here is some discussion and opinions from the community. As we see it there are just two options to think about. Use an algo that is asic resistant and thus give the individual a chance to do some mining at home. This however is often an illusion as most of the asic resistant algo's are largely mined my gpu mining farms thus beating the point. Of course there might be other algo's out there that are gpu resistant but how reliable are they? The other option is to either go with SHA-256 or continue with scrypt and be mined mainly be the large mining farms. This option in many ways is good as it has much more potential to secure the network so we have been leaning towards this. This would also give us a good opportunity to be merge mined with some of the larger coins which would be a brilliant way to secure the network. It would be great to get some opinions and ideas from you guys regarding this matter.

Well I think this is enough for now. I just wanted to let you all know that this is being worked on and that all of you are invited to take part in this great project. I'm sure there will be a lot of questions and I will try my best to answer them.

I'd like to see merged mining with bitcoin or litecoin. While I understand the attraction of mining, I think security of the network is paramount. I would think Icelanders especially want to know that their currency is not going to be attacked. Auroracoin is especially vulnerable on this issue because of the threat of attack back in the spring.

Yes that is my own opinion and it's good to get some feedback from you guys regarding this. If someone disagrees on that it would be great to hear why.

Topic: [ANN][AUR] Auroracoin - a cryptocurrency for Iceland - page 43. (Read 506425 times)