Online Talk: The Auroracoin Avalanche

  • March 7, 2014 · 5:45 PM
  • Starbucks

         Hi all.  This week Auroracoin reached almost to 1 billion in caps.  Yes you heard right. For a coin that just arrived around February 2014, of this year, what can you say - this is a whacking year of crypto-currencies.   It really is a roller coaster - some thought Mt Gox killed bitcoins, then 2ndMarket plan for a new exchange resurrects the coin, and now you have this Auroracoin and highly anticipation of Icelandic countrywide coin-giveaway - from lowest drop of death valley, to the midway on mountain peaks.    

                    If you have read about this coin, this is the coin that an Icelander developer is giving away to all the citizens of Iceland on March 25 of 2014, about 31 coins.  However it is out right now and it is trade-able and mine-able if you have a large enough equipment.   I've heard it hit $15 about a week ago with 300 mil caps, then skyed to $97/coin and around 950 million in caps.   

                  On a side note Mazacoin, the coin for some of the tribes of Lakota Indians, is also rising.  Although an FBI agent warned the developer that crypto-currency is not a legal tender by law.  That's funny they are messing with some Indians on their territory, but they won't touch Washington or Colorado territories' recreation use of Marijuana that is against Federal Law - always sticking it to the Red man.    Nor, is the FBI coming after Overstock.com, or anyone else that is accepting digital coins, just only the Indians.  If I was them I would file a civil lawsuit claiming discrimination.

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  • Don

    I think everyone is waiting on dropoff date of March 25, to see what will happen.

    March 6, 2014

  • Don

    This article claims Auroracoin is heavily primed meaning the primine coins have artificially raise the price. There is 10.6 million held and around 100,000 really in circulations. Basically you can't totally trust Coinmarketcap.com They believe once the airdrop happens in Iceland the coin will tank and be heavily diluted. An estimate of no more then 6 million is the realistic cap. I think calculations was made on the 100,000 circulated coins and not the total being held before the release. Here is more info:
    http://www.newchainontheblock.com/warning-about-auroracoin/

    March 6, 2014

  • Don

    It now droped by 500 million in caps! If this was pump and dump, I'm impressed by how much the volume it is. Per coin price have dropped from $90 to $38.

    March 5, 2014

  • Don

    At the current rate, the Icelander gross income will increase by 330k population times 31.8 Auroracoin times $90 going rate, for a total of around 950,000,000. That is almost a billion dollar richer.

    March 4, 2014

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