Topic: Will Iceland Ban Auroracoin? (Read 3144 times)

We all have our weakness, mine is I can't stand self centered ego's like BCX. But I guess you're right...

That was a bad move , one is arguing in the thread one is starting a thread about it.

If this pioneer experiment succeeds we will see a tsunami of Ethnocoins, scams, pumps and clones but also the occasional true blue diamond.
The whole project seems rushed though and lacking a real plan or proof thereof. The likelyhood of success, whether banned or not in my eyes is rather small, but lets wait and see. The Ethnocoin model is a interesting one that, well planned ahead and with a bit of luck and good advocacy/PR could work sooner or later.

I remain very skeptical in this area.

though to disclose very clearly, I missed the aurora train completely, so maybe my subconscious is bitter, let no one question that from me first.


but aurora's coin prime objective... basically is a dangerous one for Iceland.
For one, the government will need professionals to study to code to even give it a fair assessment.

the fact that there appears to be no professionals (from 3rd parties) present, appears to be on the negative side this moment.

I will wish Aurora's coin to succeed, as it will be revolutionary if they do.
but the contrary action here.. will likely kill off a lot of these 'new country based coins'...

again, very speculative, I don't want to sound swayed either side.
and regardless, we will all learn something here.

Wrong! He's a Wet Fart!

https://bitcointalksearch.org/topic/newbies-the-top-40-greatest-wet-farts-on-this-forum-avoid-serious-discussions-517964

Actually, this isn't as likely as it seems.

Ironically the Icelandic central bank will help the coin to be held because of it's strict exchange controls. To cash out to dollars, people would have to find a way to circumvent those exchange controls to get their dollars back into the country and into an Icelandic bank account. On the other hand, if they cash out to Krona in an Icelandic black cryptocurrency market, the coin will just stay in Icelandic hands.

This has either been very cleverly thought out by the project planners or is an extremely handy accident.


This critiscism has about the least basis of any I can think of. Again - the Icelandic government has actually helped Auroracoin here because distribution is going to be a piece of cake due to the national ID online validation service they already have in place. What's more, the "Icekey" system is generic. That means the authorities will never have to know who is collecting their Aurora and who isn't.

The whole thing is going to be very interesting on 4 counts:

[1] - the difficulty with which Icelanders will have in cashing out as opposed to retaining and circulating their Aurora for goods & services

[2] - the ease whith which distribution can take place (contrary to the nonsense quoted above)

[3] - the fact that the coin has been given significant value by foreign markets prior to the aurdrop

[4] - the fact that it is now national news in Iceland, having invoked a special parliamentary session to discuss its implications

BCX is a clown

BCX will kill the coin before then ban.

When is a decision to be expected?

What about the new referendum?   

Give Icelandic people the right to make new decision! 

They have to stay responsible to prevent the new financial collapse again as well as the development of the polar greed. 

How exactly would that work? People aren't going to suddenly dump their LTC for a new coin that has no infrastructure built around it.

EDIT: Is it something like this?


Seems like some of the other alts are trying this 'black-hole mining pool concept'. The problem with this is that most who who mine alts do it to exchange them to BTC, or to a lesser extent LTC. So in reality, those two are the ones who will be eating away from these alts' marketcaps in the long run. In fact, if you go over to mining speculation sub-forum, you'll find a lot of people saying 'SHA-256 mining is no profitable, just mine Scrypt coins and exchange them to BTC for maximum profit.'

I can easily imagine BC draining LTC's marketcap, if their black-hole mining pool concept works out.

I think Altcoins need an innovative business model to break out, an Auroracoin has the potential for that.

The two key factors may well the execution and the response of Iceland's government

None of the alts go up long-term except for LTC. Sure some of the early ones like NVC and NMC did, but that's only because they're on btc-e. Auroracoin is going nowhere except down from here.

perhaps it wont when they ban it

If the devs actually give away AUR to enough people, then this story will be worth watching.

Icelanders have no use of USD. If anything they would exchange it into Icelandic Krona, but since that currency has been lying on the ground with a broken back since 2008, they may very well stick to AUR for a while after all.

Because i leave the aurora train for the BC train
Follow me

auroracoin is still overpriced.  it has a long way to go down. 

Nobody thinks this coin is going up in value?