

Auroracoin market cap has surpassed Litecoin. Second only to Bitcoin - milesf
http://coinmarketcap.com/mineable-all.html

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milesf
Before anyone starts liquidating their assets to buy-in to this, remember that
cryptocurrency is highly, highly speculative. A post on bitcointalk.org give
some insight into this meteoric rise:

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From:
[https://bitcointalk.org/index.php?topic=497736.0](https://bitcointalk.org/index.php?topic=497736.0)

I looked around, and for some reason no one is talking about this..

I was looking up Auroracoin, and now I know why it's marketcap is insanely
inflated: There are only 98476 coins in circulation, but coinmarketcap is also
including all 10,500,000 (50%) of the premine coins for a total of 10,598,476
coins.

The true value of the Auroracoin marketcap is currently $2,552,498. When the
airdrop happens, expect the price to eventually plummet to less than 1% of
it's current value when the airdrop is finally complete. If I were an
Icelander, I'd grab my free ~$900 USD and dump it right away, the price is
only going to drop as the supply inflates by %10,000 in less than a year's
time.

Additionally, people don't seem to realize that currently one entity controls
50% of the total Auroracoin supply (10,500,000) while there are only ~100k
coins being traded by everyone else. So when the price "jumps" 60-70%, that's
actually not uncommon for low valued coins; however, because the pre-mine
number is included, this jump looks magnitudes larger than it really is.

People usually scream bloody murder to premine (even as _low_ as 10%!), but
some guy comes along and says "give me 50% premine, I promise to distribute
it, trust me" and suddenly everyone is convinced.

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