Topic: Bitcoin - page 2. (Read 8903 times)
From Aurora never had anything positive came into existence
I don't see how premining 50% of a coin and giving it to people in iceland is going to make it worth anything. What can you do with Auroracoin in iceland? Would you expect business owners to start accepting this 50% premined give away cryptocurrency? What makes you think they will all of the sudden adopt an alt crypto when bitcoin has been there and is established globally.
You can keep your scam coin, and anyone who buys it is deserves what happens when it gets dumped to zero.
You can keep your scam coin, and anyone who buys it is deserves what happens when it gets dumped to zero.
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
The database is public so there is no problem to know each Icelandic ID
I would also preferred to see baldur real name. but I understand his fear and preference of anonymity.
To me he looks trustworthy as he surely not interested in an increased value of the coin at all, and he would have dumped all the coins already if he wasnt waiting for the airdrop.
Its your call if to take the risk and join the train or stay behind. both choices are ok as the train might go to a dead end
I would also preferred to see baldur real name. but I understand his fear and preference of anonymity.
To me he looks trustworthy as he surely not interested in an increased value of the coin at all, and he would have dumped all the coins already if he wasnt waiting for the airdrop.
Its your call if to take the risk and join the train or stay behind. both choices are ok as the train might go to a dead end
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.
Where is there a source, from the Icelandic government, that this is actually happening? Because if they are not behind this or at least taking part in it, then I am seeing this setting up to another huge blow to crypto with news postings of, "Iceland rejects new crypto" or "New crypto does not take off as expected in Iceland" followed by the obvious "futures look grim for BitCoin" and etc.
I see a lot of posts about people saying the current market cap of Auroracoin isn't real because there is less than 100,000 coins available and all of the premine isn't being taken into account. I come from an investing background with wallstreet. When you look at a stock, you can see two terms:
1. Float - This is the amount of sharing available for trading.
2. Shares Outstanding - This is the total amount of shares a stock has. This includes shares that are unavailable for trading for a variety of reasons.
The value of a stock is based upon the shares outstanding, NOT the float because investors and the market understand that at some point, those locked up shares will become part of the float. If there are very few shares available in the stock, it is said to be, "Illiquid". An illiquid stock can have wild price fluctuations when there is a lot of interest in it.
Auroracoin has is illiquid. Its', "Float" is very small (less than $100,000). However, its marketcap which properly takes into account all of the coins (shares) outstanding, IS correct and the market is working to price in the fundamentals and risk associated with all those coins outstanding.
1. Float - This is the amount of sharing available for trading.
2. Shares Outstanding - This is the total amount of shares a stock has. This includes shares that are unavailable for trading for a variety of reasons.
The value of a stock is based upon the shares outstanding, NOT the float because investors and the market understand that at some point, those locked up shares will become part of the float. If there are very few shares available in the stock, it is said to be, "Illiquid". An illiquid stock can have wild price fluctuations when there is a lot of interest in it.
Auroracoin has is illiquid. Its', "Float" is very small (less than $100,000). However, its marketcap which properly takes into account all of the coins (shares) outstanding, IS correct and the market is working to price in the fundamentals and risk associated with all those coins outstanding.
I'd be careful drawing analogies like this.
Say I start a new coin. 100 trillion coins are premined but frozen, to be released to the world in a year. 1 coin is mined per month. Someone mines the first coin and sell it for $1. What's my market cap?
Beware of investing in this coin. It is a nice idea but the facts are these.
1. where is all of this money coming from that we will give out to the folks living in iceland?? - YOU the investors.
2. why would you want to give $710 to each citizen in iceland? these people had their wealth taken by bankers and now you guys want to subsidise them getting some back?
3. what do you think people hearing of magic internet money are going to do as soon as they can.? yes cash it out, anyone left holding the bag here is going to be crying.
I like the idea but seriously there is going to be a lot of bagholders if you just want to give 300k strangers $710 each from your own pockets.
It is cool it will bring some awareness to crypto but then the bankers who rule those guys have already banned bitcoin. I don't see the point of giving this country anything really. I would rather see it go to a country that is not a total loss.
They just got their pants pulled down hard and still get told what to do buy the same people that have just finished bending them over.
So we come along and decide to give them all a little cash to make it hurt a little less?
Nah, seems a nice idea, but i'm not paying in to this repair their bankers damage fund. They will cash out and still BTC will be banned there. Iceland is dead loss.
Let's do the same for a country that could actually bring some benefit to crypto.
How about some island which is sovereign and has some financial backbone. Small population which will adopt crypto as their national currency. We could make it worth their while actually.
1. where is all of this money coming from that we will give out to the folks living in iceland?? - YOU the investors.
2. why would you want to give $710 to each citizen in iceland? these people had their wealth taken by bankers and now you guys want to subsidise them getting some back?
3. what do you think people hearing of magic internet money are going to do as soon as they can.? yes cash it out, anyone left holding the bag here is going to be crying.
I like the idea but seriously there is going to be a lot of bagholders if you just want to give 300k strangers $710 each from your own pockets.
It is cool it will bring some awareness to crypto but then the bankers who rule those guys have already banned bitcoin. I don't see the point of giving this country anything really. I would rather see it go to a country that is not a total loss.
They just got their pants pulled down hard and still get told what to do buy the same people that have just finished bending them over.
So we come along and decide to give them all a little cash to make it hurt a little less?
Nah, seems a nice idea, but i'm not paying in to this repair their bankers damage fund. They will cash out and still BTC will be banned there. Iceland is dead loss.
Let's do the same for a country that could actually bring some benefit to crypto.
How about some island which is sovereign and has some financial backbone. Small population which will adopt crypto as their national currency. We could make it worth their while actually.
You are missing part of the point here, I do believe. The publicity may drive the entire market up, and if any group of people would be forward thinking in terms of a decentralized, it would be the Icelandic people. They have a history of making extreme decisions with regard to their government, and they have been crushed with inflation.
I look at it this way. If the Icelandic people hear about this currency that is coming to them, actually go through the process of getting it, and then notice that it has an incredibly high exchange rate vs their government issued currency, do you not think they will ask how this is possible? How many do you think will be pulled into the world of digital currency by that?
Even if they all sell it off for fiat, and the price drops later, I do not care. I bought some Auroracoin because I believe in the cause behind it. Best case scenario, it actually starts the ball rolling in Iceland to replace their fiat with a digital currency (Auroracoin, or otherwise). Worst case scenario, it is a charity to help the people there who have been so unfairly crushed by the banks \ government. I'm ok with it either way.
Of course this is assuming that it is legit, and the drop will actually happen. But, after looking through the main thread, and the website, I feel pretty confident that it will happen. The way it is written seems like it is being designed by someone who truly cares about the Icelandic people, and legitimately understands their plight.
This would make for one crazy scam coin if the airdrop never occurs and people buying for 3 times what they worth at current prices 
would do the crypto community a lot of damage..... is the devs ID actually known?
No, he is one "shaddow man" without ID.
He does not answer any of the questions.
https://bitcointalksearch.org/topic/m.5426900
This would make for one crazy scam coin if the airdrop never occurs and people buying for 3 times what they worth at current prices
would do the crypto community a lot of damage..... is the devs ID actually known?
This would make for one crazy scam coin if the airdrop never occurs and people buying for 3 times what they worth at current prices
Beware of investing in this coin. It is a nice idea but the facts are these.
1. where is all of this money coming from that we will give out to the folks living in iceland?? - YOU the investors.
2. why would you want to give $710 to each citizen in iceland? these people had their wealth taken by bankers and now you guys want to subsidise them getting some back?
3. what do you think people hearing of magic internet money are going to do as soon as they can.? yes cash it out, anyone left holding the bag here is going to be crying.
I like the idea but seriously there is going to be a lot of bagholders if you just want to give 300k strangers $710 each from your own pockets.
It is cool it will bring some awareness to crypto but then the bankers who rule those guys have already banned bitcoin. I don't see the point of giving this country anything really. I would rather see it go to a country that is not a total loss.
They just got their pants pulled down hard and still get told what to do buy the same people that have just finished bending them over.
So we come along and decide to give them all a little cash to make it hurt a little less?
Nah, seems a nice idea, but i'm not paying in to this repair their bankers damage fund. They will cash out and still BTC will be banned there. Iceland is dead loss.
Let's do the same for a country that could actually bring some benefit to crypto.
How about some island which is sovereign and has some financial backbone. Small population which will adopt crypto as their national currency. We could make it worth their while actually.
1. where is all of this money coming from that we will give out to the folks living in iceland?? - YOU the investors.
2. why would you want to give $710 to each citizen in iceland? these people had their wealth taken by bankers and now you guys want to subsidise them getting some back?
3. what do you think people hearing of magic internet money are going to do as soon as they can.? yes cash it out, anyone left holding the bag here is going to be crying.
I like the idea but seriously there is going to be a lot of bagholders if you just want to give 300k strangers $710 each from your own pockets.
It is cool it will bring some awareness to crypto but then the bankers who rule those guys have already banned bitcoin. I don't see the point of giving this country anything really. I would rather see it go to a country that is not a total loss.
They just got their pants pulled down hard and still get told what to do buy the same people that have just finished bending them over.
So we come along and decide to give them all a little cash to make it hurt a little less?
Nah, seems a nice idea, but i'm not paying in to this repair their bankers damage fund. They will cash out and still BTC will be banned there. Iceland is dead loss.
Let's do the same for a country that could actually bring some benefit to crypto.
How about some island which is sovereign and has some financial backbone. Small population which will adopt crypto as their national currency. We could make it worth their while actually.
At current prices, each citizen of Iceland would receive $710.00 each.
If we don't expect all the people who get these for free to dump them immediately then we are kidding ourselves.
I see a lot of posts about people saying the current market cap of Auroracoin isn't real because there is less than 100,000 coins available and all of the premine isn't being taken into account. I come from an investing background with wallstreet. When you look at a stock, you can see two terms:
1. Float - This is the amount of sharing available for trading.
2. Shares Outstanding - This is the total amount of shares a stock has. This includes shares that are unavailable for trading for a variety of reasons.
The value of a stock is based upon the shares outstanding, NOT the float because investors and the market understand that at some point, those locked up shares will become part of the float. If there are very few shares available in the stock, it is said to be, "Illiquid". An illiquid stock can have wild price fluctuations when there is a lot of interest in it.
Auroracoin has is illiquid. Its', "Float" is very small (less than $100,000). However, its marketcap which properly takes into account all of the coins (shares) outstanding, IS correct and the market is working to price in the fundamentals and risk associated with all those coins outstanding.
1. Float - This is the amount of sharing available for trading.
2. Shares Outstanding - This is the total amount of shares a stock has. This includes shares that are unavailable for trading for a variety of reasons.
The value of a stock is based upon the shares outstanding, NOT the float because investors and the market understand that at some point, those locked up shares will become part of the float. If there are very few shares available in the stock, it is said to be, "Illiquid". An illiquid stock can have wild price fluctuations when there is a lot of interest in it.
Auroracoin has is illiquid. Its', "Float" is very small (less than $100,000). However, its marketcap which properly takes into account all of the coins (shares) outstanding, IS correct and the market is working to price in the fundamentals and risk associated with all those coins outstanding.
At current prices, each citizen of Iceland would receive $710.00 each.
Auroracoin does not have a real market cap of 250M, that would be insane. agreed , pump and dump coin
At current prices, each citizen of Iceland would receive $710.00 each.
Auroracoin does not have a real market cap of 250M, that would be insane.
At current prices, each citizen of Iceland would receive $710.00 each.
Unless the majority of the population is cryptoliterate, history shows that people will sell it for fiat as soon as they get it.
This happened when the employee share scheme first came out and will happen with this coin.
So I would say the developer need a massive education campaign + set up all the infrastructure for coin payment before the Airdrop, otherwise it will just be a evenly distributed dump. As with sharemarket, these less educated are more likely to panic sell.
I hope this coin succeed but unless the developer is capable of marketing and proper implementation of the coin, it is going to be an uphill battle.
This happened when the employee share scheme first came out and will happen with this coin.
So I would say the developer need a massive education campaign + set up all the infrastructure for coin payment before the Airdrop, otherwise it will just be a evenly distributed dump. As with sharemarket, these less educated are more likely to panic sell.
I hope this coin succeed but unless the developer is capable of marketing and proper implementation of the coin, it is going to be an uphill battle.
Hopefully this is really going to success in term of promoting cryto currency 
At current prices, each citizen of Iceland would receive $508.00. Would YOU accept $508.00 for free?
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