Topic: [ANN][AUR] Auroracoin - a cryptocurrency for Iceland - page 68. (Read 506425 times)

It won't. Any attempts at manipulating the coin value in such a public manner will only accomplish the opposite, destroy the remaining tiny bit of trust the coin still has.

We get it, you're a bag holder who bought in way too expensive.
But that is on you, not on the coin.

The block reward has very little to do with the current market conditions anyways.
There's a 50% premine and a good portion of these "airdrops" already made it onto the exchange and into the dev's wallet.

OPEC FTW!!!

You realize you're talking like a central bank spokesman who is speaking about manipulating the value of the currency?
It's a damn free market .. let it be

what i mean is that if you reduce profitability by reducing the block reward you also reduce the attraction for new miners and for profit switching pools which at the moment seem to be the only ones able to bring lots of hashing power to a coin

yup temporarily. but it will set a cap at the current price and guarantee a rise in value of the coin from new investors interested in the dramatic reduction of supply making the coin a superb investment opportunity for those who start buying at current prices. the sell value would then raise itself to a point where mining profitability is back to normal.

it may also encourage those who sold at higher value to buy back multiples of what they sold earlier, with the difficulty following suit being raised by the price and new hashpower. it would severely reduce the success of any person or group vindictively trying to hold down the price of the coin. if the icelandic ppl were smart, theyd all try to margin trade their coins to multiply how much they hold in possession from 31.8 to 63.6 etc.

either way this is a nice price for aur.. cheap ;0. im ok with whatever way you want to swing it. i am and will be a dedicated aur investor for the long haul. i suppose with the airdrop dumpers it is a good idea to keep the price low so we can get 30 aur for $100 from those that wish to sell. just my 2 cents. ive studied the markets for a long time. and just as i called the blackcoin rise.. im also going to call the spaincoin rise now since they have converted to nscrypt, reducing daily reward by 60%.. u can expect spaincoin to at least triple once the early miners have sold out their stock and only the n-scrypt miners have coins to sell.

If you reduce block reward you effectively reduce profitability too.

Keep that in mind

why? do u think that price has to stick with miners? we could pump aur to $500 right now even if there were only 5 miners on the entire network. it really doesnt matter. when the price rises the miners will come.

e.g pump aur to .02btc now and you will see the network housing more than 10gh. pump it to .050 and you will see appearing on the network 50gh. miners follow profitability not the other way around. and investors hold stable coins longer than coins that steadily drop in value.

im saying, if the block rewards were reduced significantly enough then the coin instantly becomes more valuable as there is less dump coming to the market. when that happens, itll get bought up due to low supply at low prices and it will return to a value similar to current income per day even with lowered block reward. miners generally sell and not buy. few im sure even trade effectively to multiply the coins they hold. they just cashout to btc and maybe straight to usd.

my point.. u could not gain value on this coin without attracting more hash. i will state and you can quote me on that..  "it's impossible". if the price rises, the hash will come. the question then would just be how much of that hash wants to dump and how much prefers to hold more longterm.

I'm not sure that made sense, like at all.

well ok, personally i wouldnt be scared off as a miner, but would be interested in investing more ;p

i guess if ur happy with the current supply on sell side then it's fine. my idea is that if u reduce mining reward then the coin is free to make rise with new investment till it levels off at the relative diff/reward value. we do have a 50% premine making it's way to the markets already. the price would eventually rise up to and past the same value per coin, just each coin would be worth more. returns from mining would eventually be the same even though there is lower block reward.

As ghur says, decreasing the block reward would remove mining incentive, and a lower hash rate would reduce the coin's security.

For the moment, best to leave it as it is.  A moderately low price right now is not really such a bad thing, keeps the market forces at reasonable levels.

Significantly reduce block reward, scare off remaining miners, a single GPU rig is enough for 51% attack without KGW exploit...

Yeah, totally solid plan.

i think it is time to reduce the block rewards.. manually. reduce it so very significantly. ive only mined 3 aur and bought the rest so dont think this is a ploy. but in light of the kgw flaw, and the concerted effort to crash the coin, i believe the dev would be able to effectively combat those negation efforts by reducing the block reward to something harsh. like .1 aur per block. if icelanders want to sell their 31.8 coins they are welcome to do so.

Lol yeah I see all coins taking a beating

Have you looked at bitcoin, litecoin or dogecoin today?

How do you know that?
Hope that this news is not true
 

Price absolutely tanked today

Seems more likely that people are trying to throw more mud on AUR hoping to discourage new and old miners.

AUR has suffered like other alts from the attacks of profit switching pools once it gained some value.

Leaving the coin with high diff and dumping straight away crashing the price.

That makes absolutely no sense at all. How could someone selling coins on an exchange used by a bunch of people get sent specifically to another person as a payoff? And why would balduro paying BCX off with airdrop funds (which would be easily proven, anyone can check) make BCX admit that the airdrop seems valid?

What is much much more likely to have happened is that BCX ran his attack and through that made a bunch in mining fees. If it worked he should have made far more than that anyway. And then, having proven his point and gotten the dev team to acknowledge that, he was satisfied and has either stopped his attack (already having made some coin) or is no longer pushing it while waiting for the fix to get put in.

I hope BCX tries his attack again once the fix is put in, just to test to make sure the fix actually works. I would love to hear confirmation that the fix really solves the problem.

aur should fall then rise, on the other hand look at XSV, its could repeat AUR rise currently up 895%

I think 25-35 BTC was the price paid to BCX to do not attack auroracoin and help to fix BCX exploit (Agreement)
I think the amount comes from  Airdrop part sold, as all  we know that the aidrop will never reach 100%, so why do not to use a part to save the coin!