Topic: Aurora coin.. for real? (Read 4650 times)
25th march 2014.... the biggest dump in cryptohistory..
hopefully the premine dont end up like panda coin..
Of course it will, how could it not? You think that a bunch of Icelanders will receive free money in cypto and then convert 100% to a digital economy? Give me a break. They will accept it and then look around for a way to cash it out. Why? Because it is free money.
is there anything in place to stop the developer from just dumping the coins and taking off?
Well I only bought 5 odd auroras last week and I sold two just now making back my maxcoin loss and still got 3 left so that is not bad for a noob trader like me lol. I will be watching the auroras closely. Would be nice if they go up times ten again lol. Even though mass dumping as begun on cryptrush it is still being dumped at a higher price.
yeah keep buying, its going up 20x
Well I only bought 5 odd auroras last week and I sold two just now making back my maxcoin loss and still got 3 left so that is not bad for a noob trader like me lol. I will be watching the auroras closely. Would be nice if they go up times ten again lol. Even though mass dumping as begun on cryptrush it is still being dumped at a higher price.
I just maded a pool to test it
I guess, Auroracoin will be the first national cryptocurrency.
Only time will tell.
Only time will tell.
Isn't bitcoin semi-banned in iceland?
http://en.wikipedia.org/wiki/Legal_status_of_Bitcoin
Due to the capital controls put in place in 2008 to stop money flight on the króna, buying and selling Bitcoin in Iceland, which appears to consider Bitcoin as a foreign currency, is Illegal. The Icelandic Central Bank confirmed that "it is prohibited to engage in foreign exchange trading with the electronic currency Bitcoin, according to the Icelandic Foreign Exchange Act",[19] however commentators suggest bitcoins mined within Iceland could be freely traded.
http://en.wikipedia.org/wiki/Legal_status_of_Bitcoin
Due to the capital controls put in place in 2008 to stop money flight on the króna, buying and selling Bitcoin in Iceland, which appears to consider Bitcoin as a foreign currency, is Illegal. The Icelandic Central Bank confirmed that "it is prohibited to engage in foreign exchange trading with the electronic currency Bitcoin, according to the Icelandic Foreign Exchange Act",[19] however commentators suggest bitcoins mined within Iceland could be freely traded.
So the question is : was the 50% premine mined within Iceland ?
Isn't bitcoin semi-banned in iceland?
http://en.wikipedia.org/wiki/Legal_status_of_Bitcoin
Due to the capital controls put in place in 2008 to stop money flight on the króna, buying and selling Bitcoin in Iceland, which appears to consider Bitcoin as a foreign currency, is Illegal. The Icelandic Central Bank confirmed that "it is prohibited to engage in foreign exchange trading with the electronic currency Bitcoin, according to the Icelandic Foreign Exchange Act",[19] however commentators suggest bitcoins mined within Iceland could be freely traded.
http://en.wikipedia.org/wiki/Legal_status_of_Bitcoin
Due to the capital controls put in place in 2008 to stop money flight on the króna, buying and selling Bitcoin in Iceland, which appears to consider Bitcoin as a foreign currency, is Illegal. The Icelandic Central Bank confirmed that "it is prohibited to engage in foreign exchange trading with the electronic currency Bitcoin, according to the Icelandic Foreign Exchange Act",[19] however commentators suggest bitcoins mined within Iceland could be freely traded.
Saw their volume, what a crap 
They have incredible value on http://coinmarketcap.com/ now, but it's all bullshit for noobs. Coinmarketcap must improove they algorythm they use. Their price can be based on single exchange with 2-10 btc day trade volume and that is an easy target for price manipulations. For example with 0.01-0.02 exchange fees it will only cost you 0.1-0.2 btc to create 100 btc day trade volume for your coin!!!
They have incredible value on http://coinmarketcap.com/ now, but it's all bullshit for noobs. Coinmarketcap must improove they algorythm they use. Their price can be based on single exchange with 2-10 btc day trade volume and that is an easy target for price manipulations. For example with 0.01-0.02 exchange fees it will only cost you 0.1-0.2 btc to create 100 btc day trade volume for your coin!!!
+1
Saw their volume, what a crap
They have incredible value on http://coinmarketcap.com/ now, but it's all bullshit for noobs. Coinmarketcap must improove they algorythm they use. Their price can be based on single exchange with 2-10 btc day trade volume and that is an easy target for price manipulations. For example with 0.01-0.02 exchange fees it will only cost you 0.1-0.2 btc to create 100 btc day trade volume for your coin!!!
They have incredible value on http://coinmarketcap.com/ now, but it's all bullshit for noobs. Coinmarketcap must improove they algorythm they use. Their price can be based on single exchange with 2-10 btc day trade volume and that is an easy target for price manipulations. For example with 0.01-0.02 exchange fees it will only cost you 0.1-0.2 btc to create 100 btc day trade volume for your coin!!!
aurora is the most balant example of using a nation of clueless folks to premine to get rich.
I am saying the creator is smart.
and the public probably dumb enough for him to pull it off...
shame.
hopefully the premine dont end up like panda coin..
Repost from ANN thread:
My second question is how they will do it? There are 320 000+ residents. They need verificate them in 4 months. It is 2 623 residents daily!!!
I tried search for answers but for my questions there are no answers yet!!!
Where will be verification that dev will be not creating fake wallets where he will send airdrops for yourself?!?!?
Look, that idea of this coin is great but everyone must know that all is in one hand of "Shaddow man". How can you all trust him? Why to trust him?
These are all fair questions. Questions I would like answers to as well. I feel the more valuable the coin is, the more likely this is to go smoothly. As media attention comes about, I assume efficient processes will be developed to safeguard against ID fraud.
I must bump this. Dev dont want to answer this questions? Why?
Electronic National ID scheme - provided by the government, but useable by anyone.
Is this database online ?
I've highlight your answer in bold
So everyone can access this, everyone can than create claim to get "Airdrop"!!!
Everyone who is investing in this coin must be alerted!!!
Dev dont want answer all valid questions.
If you people would read the first post.
Once the Auroracoin site is back up, after all this sudden interest (coinmarketcap sure isn't helping), you can check out http://auroracoin.org/blueprint.php
It describes the airdrop process.
EDIT: And please.. the Dev or Devs could never simply sell 10.500.000 coins. Don't be so idiotic.
I read it, blueprint. But it doesnt say anything, how they will validate that? How this proccess will be secure against ID fraud?Once the Auroracoin site is back up, after all this sudden interest (coinmarketcap sure isn't helping), you can check out http://auroracoin.org/blueprint.php
It describes the airdrop process.
EDIT: And please.. the Dev or Devs could never simply sell 10.500.000 coins. Don't be so idiotic.
My second question is how they will do it? There are 320 000+ residents. They need verificate them in 4 months. It is 2 623 residents daily!!!
I tried search for answers but for my questions there are no answers yet!!!
Where will be verification that dev will be not creating fake wallets where he will send airdrops for yourself?!?!?
Look, that idea of this coin is great but everyone must know that all is in one hand of "Shaddow man". How can you all trust him? Why to trust him?
I must bump this. Dev dont want to answer this questions? Why?
And how are you going to distribute the coins to everyone?
Electronic National ID scheme - provided by the government, but useable by anyone.
Is this database online ?
I've highlight your answer in bold
Quote
All Icelanders, as well as foreign citizens residing in Iceland and corporations and institutions, have a Personal Identification Number (Icelandic: Kennitala, lit. identification number) identifying them in the National Registry. The number is composed of 10 digits, of which the first six are the individual's birth date in the format DDMMYY. The next two digits are chosen at random when the kennitala is allocated, the 9th digit is a check digit, and the last digit indicates the century in which the individual was born (for instance, '9' for the period 1900–1999, or '0' for the period 2000–2099). An example would be 120174-3389, the person being born on the twelfth day of January 1974. The Icelandic system is similar to that in other Scandinavian and European countries, but the use of the identification number is unusually open and extensive in Iceland. Businesses and universities use the kennitala as a customer or student identifier, and all banking transactions include it. The National Registry (Icelandic: Þjóðskrá) oversees the system. A database matching names to numbers is freely accessible (after login) on all Icelandic online banking sites. Given this openness, the Kennitala is never used as an authenticator. It is worth noting that the completeness of the National Registry eliminates any need for Iceland to take censuses.
So everyone can access this, everyone can than create claim to get "Airdrop"!!!
Everyone who is investing in this coin must be alerted!!!
Dev dont want answer all valid questions.
pump and dump scam like every other coin in this section.
put down that shit coin pre mined
pump and dump scam like every other coin in this section.
I guess I will applaud them for an 'out of the box' marketing scheme..
but I bet 80% of iceland doesn't know what crypto currency is.
and 50% pre-mine opens HUGE room for corruption pocketing without a 3rd party auditing firm, don't you think?
Will they pull it off u think?
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