Topic: AURORACOIN - Empowering Financial Freedom - page 44. (Read 138034 times)

Easy explain. With airdrop was instruction how to send coins to exchange to sell  because price was high.

Lets pretend we don't know it's a scam and look at the basic math.

Total AUR = 7,883,372

From the Wiki:
When phase one of the airdrop had completed on July 24, 2014 it was estimated that 1,126,674 AUR had been disbursed among 35,430 claimants.
Phase 2 claim was increased to 318 coins. About 5024 claims totalling almost 1.6 million coins were made
Phase 3 nearly 1.7 million coins being claimed by more than 2600 Icelanders. By this time the price had fallen so sharply that the payout had increased to 636 coins per recipient

Total AUR = 7,883,372

Phase 1 = 1,126,674 (14.3% total supply)
Phase 2 = 1,600000 (20.2% total supply)
Phase 3 = 1,700000 (21.5% total supply)
Foundation +- 1 000000 (12.6% total supply)

Total % distributed = 56% to a total of 43054 claimants.

5,344,628 was burned a no longer part of the total supply.

https://chainz.cryptoid.info/aur/#!rich

Wealth Distribution:

Top N  addresses   Holdings                   Percentage
Top 10                   2,122,527  AUR           26.92 %  
Top 100           5,025,521 AUR           63.75 %
Top 1000                   6,542,710 AUR           82.99 %
All 34183                   7,883,397 AUR           100 %

This should raise some serious eyebrows, I would suggest that 5% made it to real people in Iceland as a best case scenario.

To everyone that doubts that there was an airdrop that everyone in Iceland could claime coins, this is a great summary that Skarfur gathered a while back. If you follow the links you can see that the Icelandic media confirmed that everyone could claim. On top of the media coverage +5.000 people of the +30.000 who claimed, joined Auroracoin facebook page and are still listed there waiting for news on the project..

Is it possible to explain another situation where this wasn't scam transactions taking place or would it require the anonymous developer to explain himself?
Does anyone have contact with the developer that created this coin?

To clear up the questions:

- Why would someone that intentionally want to scam the community, setup a complicated scheme for three airdrops?  Money/bitcoin
- Why would a scammer that intentionally wants to cash out leave a large portion of the coins untouched? Future Money/Bitcoin
- Why would that person bother about handing over the website to a foundation and setup a wallet with 1 MM AUR for future expenses? To legitimize what he has stolen, attempt to play innocent
- Why does this person or group burn the remaining AUR instead of waiting to dump the remainder? To legitimize what he has stolen, attempt to play innocent

It's not complicated at all to create a airdrop. EASY MONEY

and there are more questions one can ask themselves. I admit the airdrop did not turn out a 100% succes, maybe the contrary. But every method has it's flaws. In the aviation industry everything is doubled, tripled, checked and still once in a while a plane crashes... What to expect from a method that was never tested and had to be caried out on short term...

You took the meaning of a airdrop literally as someone using a real plane ? lol

Digibyte used a freelance developer MentalCollatz to solve their problems.

When it comes to premines you are guilty until proven innocent especially when the developer was anonymous.

There is no need to defend the scammer , he did you no favors and made it harder for the team to make it a success as you will always have to deal with this in the future. You should be angry and demand he reveals his true self.

Great summary that answers all the trolls here.

Regarding all conspiracy theories:

- Why would someone that intentionally want to scam the community, setup a complicated scheme for three airdrops?
- Why would a scammer that intentionally wants to cash out leave a large portion of the coins untouched?
- Why would that person bother about handing over the website to a foundation and setup a wallet with 1 MM AUR for future expenses?
- Why does this person or group burn the remaining AUR instead of waiting to dump the remainder?

and there are more questions one can ask themselves. I admit the airdrop did not turn out a 100% succes, maybe the contrary. But every method has it's flaws. In the aviation industry everything is doubled, tripled, checked and still once in a while a plane crashes... What to expect from a method that was never tested and had to be caried out on short term...

Regarding security;

The current codebase was choosen for security reasons because MentalCollatz applied a fix to the DGB 4.x codebase that makes 51% attacks very unlikely. With this retarget fix a miner would need majority on multiple algos at once.
Thats also one of the reasons for 61 seconds blocktime, it's a prime and therefore prevents time repetitive flaws we do not even know of.

I read a lot about stealing or copying code even in other coins anns. When someone says AUR copied the algo he obviously has no knowledge about coin mechanics. The algo is the way the data is secured on the blockchain. For BTC that is SHA256d and for Litecoin that is Scrypt, besides those two a lot of other hashing methods are developed and used. So basicaly no coin copies the algo. The algo is a published method of securing.
Next to that there is a retargetting system, BTC used the average of 2015 blocks to calculate the next difficulty, but that was too long for the altcoin scene. AUR uses Kimoto gravity well till now (yes, copied code but proven and when used properly rock solid). The new codebase uses what DGB calls Digishield, a much faster responding retargetting method develloped by DGB and I discussed personally with Jared to use that. I also asked Mental for known flaws and he responded "not that I know of with the latest additions"

  

Yes, dev remain anon because he was worried about CIA and Icelan special forces catch him, he did not remain anon because he was trying to scam.

I also heard kim jong il doesn´t use the toilet as normal ppl and he found the only unicorn nest ever to be found. All rumors are rumors and unless there is any prove or fact i would be appreciated that you state this as your opinion rather than a fact.

Merge mining will prevent 51% attack on each algorithm or on multiple as individuals won't be able to rent enough hash. It is easy for scammers like the original AUR dev to rent load of hash and disrupt an entire algorithm.

Merge mining has been discussed before as one option to secure the blockchain but no actions have been taken towards that.

Our main goal with the coin development will always be to implement improvements that will benefit stability and security of the blockchain. I'm sure that merged mining will be considered if it will help us to achieve those goals.

Does merged mining on top of multi-algo provide a noteworthy increase in security and stability?
What do you guys think the pros and cons of such an implementation would be?

You can't punish the new team for the sins of the original developer. Give the new team the benefit of the doubt, in my humble opinion the anonymous developer dumped out when the coin was at a much higher price, it was created as a con job but it's still a brilliant idea.

Merge mine against Groestl as the parent coin for the algo. SHA256 can stay on its own. Scrypt merge on litecoin. The other 2 algos can be discussed.

Would Auroracoin consider enabling merge mining on all the algorithms as well as a hardfork to multi-algo?

Normally, you should not get any "out of memory" error (even when we're not at 225000 yet). Do you get the same with other wallets (Digibyte)? Is it repeatable? How is the system load?

An X86 Ubuntu .Deb file for the QT wallet has been added to the Github release page found here:

https://github.com/aurarad/Auroracoin/releases/tag/2016.03.01.0

If you have any issues or questions, let us know.

-Fuse

Yes, till then Auroracoin is still Scrypt only.

right ok, so that's expected till then?

Was just setting things up.

An active list of the Auraráð foundation addresses and spending can be found in the following link.

http://aurarad.is/sjodurinn/