Just posted this on the auroracoin facebook page:
Coins... currency, are social entities: They exist inside the web that is formed by humans and their relationships: work, debt, love, family, country county, taxes... etc. The "maturity" of a currency is attained through time as the relationships enumerated above start using channels, conduits. As such, the speed of adoption or repudiation of a currency is entirely dependent on the evolution of these relational webs, their utility as reservoirs of shared "trust/distrust". if the algorithm that facilitates the cripto revolution is sturdy, social webs will evolve and adapt to the transactional opportunities afforded by the "public ledger" of the criptocoins...
But to expect that this evolution will happen overnight is to not understand how social webs evolve over time to adapt to new inputs; It is to be expected that Aur, -as BTC-. will go through plateau phases of valuation at the same time that an environment of con artists, merchants, speculators etc. will emerge to try to take advantage of the gullible or of those that have no patience or time or are in dire need of a few Krona.
The experiment has started.
The crucial element now, besides the distribution mechanism is the speed of adoption of the cripto as a transactional entity in this specific case of Iceland, but it also applies to all criptos.
BTC is further down the road of maturity for the simple reason of its longevity (5 years since 10,000btc bought one pizza)... The "Character" of the icelandic community will be reflected on the gyrations of Aur. Good luck!
https://www.facebook.com/groups/AuroraCoin/