Topic: Bitcoin (Read 8903 times)
Scam coin
You'd better tell all the people on here who seem to be using it:
http://aurcoin.is/
And the 1300 members of the Facebook Auroracoin buy/sell group
Assuming Auroracoin can reach its goal of becoming a widely used currency in Iceland, we can calculate its potential market value as follows: there are 500 billion Icelandic Krona (ISK) in circulation (http://www.tradingeconomics.com/iceland/money-supply-m1). That's worth about 5 billion USD or about 15'000 USD per inhabitant. Let's say Auroracoin reaches 10% of that within three years. In that case, we could expect it to be worth about 1'500 USD per inhabitant or 50 USD each. Right now it is trading somewhat below 0.01 BTC or about 4 USD each. So if you believe that it will be successful, you can get a tenfold return within three years - which is good. If there's an 80% chance of failure, the investment looks less positive (100% expected upside within three years), but still positive.
thank you for facts, a rare thing seen in this forum.
Assuming Auroracoin can reach its goal of becoming a widely used currency in Iceland, we can calculate its potential market value as follows: there are 500 billion Icelandic Krona (ISK) in circulation (http://www.tradingeconomics.com/iceland/money-supply-m1). That's worth about 5 billion USD or about 15'000 USD per inhabitant. Let's say Auroracoin reaches 10% of that within three years. In that case, we could expect it to be worth about 1'500 USD per inhabitant or 50 USD each. Right now it is trading somewhat below 0.01 BTC or about 4 USD each. So if you believe that it will be successful, you can get a tenfold return within three years - which is good. If there's an 80% chance of failure, the investment looks less positive (100% expected upside within three years), but still positive.
Scam coin
A lol of stories are still told about the dead. This coin is dead but stories will still be told about it.
If any of you think this coin is dead, I am of the opinion you're wrong. I think there is a LOT of story to play out yet...
Good luck Iceland. We wish you all the best. Hope it succeeds for you all.
lol gimmick 
I am waiting for the "commie coin" which is 100% premine and 100% distributed to everyone 
Hi balduro, I wrote the Auroracoin article on CCN you probably saw.
I'd like to do a follow-up interview with you. Please reply via PM.
I'd like to do a follow-up interview with you. Please reply via PM.
Also..... check the Icelandic papers. No mention of Auroracoin there either. It is getting more press outside of Iceland than in it.
There you go.. that's an Icelandic newspaper - http://www.mbl.is/vidskipti/frettir/2014/03/01/rafraenir_gjaldmidlar_sla_i_gegn/
http://www.mbl.is/vidskipti/frettir/2014/02/06/gefa_islendingum_nyja_rafmynt_2/
We still have time to reach all of the Icelandic people, first of all we need to get recognition from the alternative cryptocurrency community only after we can build trading tools and publicity.
we still have 23 days
I just don't see this getting past the part where they dump a lot of coins into the market, i think it'll mess with the value too much
Why is that a problem? Of course it will be as volatile as can be, but it'll settle down over time.
I just don't see this getting past the part where they dump a lot of coins into the market, i think it'll mess with the value too much
Where is there a source, from the Icelandic government, that this is actually happening?
The govt has no part in this currently afaik.
If this concept was even remotely legit the developers would not be hiding behind Whois guards and unknown IDs.
If you buy into this be sure to invest only what you can afford to lose.
If you buy into this be sure to invest only what you can afford to lose.
+ 1
As all of you are interested in the story behind Auroracoin, I thought I'd point out a new coin I just found (which has been out awhile) that is doing the same thing as Auroracoin but for the Lakota nation. But this time, it is in PARTNERSHIP with the people and government.
Introducing Mazacoin: https://bitcointalksearch.org/topic/--493049
Introducing Mazacoin: https://bitcointalksearch.org/topic/--493049
Are you sure it is conjunction with the "government"? Lakota Nation has 30,000 extremely poor Indians, many without smart phones or internet. Not sure why the tribe elders would officially back a coin. They are more concerned with basic needs.
This is the Lakota government website. http://www.oglalalakotanation.org/oln/Home.html
This is the newspaper http://www.lakotacountrytimes.com/
The radio station http://www.kiliradio.org/
No mention of Maza anywhere. I am all for the Indians having a coin, I want them too. I am all for Iceland having a coin. I want them too. But these pseudo official coins which aren't official at all to me just hurt cryptocurrencies more than they help. Can anyone explain why it is not just another pump and dump by a creator, just with the sham of attaching a "people" to it. Come on!
Also..... check the Icelandic papers. No mention of Auroracoin there either. It is getting more press outside of Iceland than in it.
what keeps anybody from registering fake accounts and claiming free auroracoin? great idea, but it needs real government backing instead of an anonymous dude copying code and pasting in a forum.
has anybody thought that 500 male teenagers will be willing to work through the night and claim all 330,000 Icelandic stakes, so that actually nobody in Iceland will actually be able to use Aurora?
has anybody thought that 500 male teenagers will be willing to work through the night and claim all 330,000 Icelandic stakes, so that actually nobody in Iceland will actually be able to use Aurora?
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