
Auroracoin: The First National Cryptocurrency? - sidko
http://btcgeek.com/auroracoin/
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singularityyy
Thanks for covering this. The article doesn't mention the price, which is a
big deal right now. According to Coinmarketcap, the value of 1 AUR now is
$15.09. You mention each Icelander getting about 31 AUR, so this is over $450
worth of value for every single Icelander. That's a significant incentive for
everyone to sign up. Good luck to Icelanders and to the team behind
Auroracoin, exciting times ahead!

~~~
gus_massa
From: [http://auroracoin.org/](http://auroracoin.org/)

> Auroracoin is a cryptocurrency for Iceland. It is based on litecoin and is
> 50% premined. The premined coins will be distributed to the entire
> population of Iceland, commencing on midnight 25th of March 2014.

From [http://coinmarketcap.com/mineable-
all.html](http://coinmarketcap.com/mineable-all.html)

> Price: $ 17.31

> Total Supply: 10,594,451 AUR

If we discount the 10,500,000 premined coins, we get only 94,451 "wild" coins,
increasing slowly until March 25th. In the "best" case, the circulating coins
well increase x112. A less successful hand out to a 10% of the population will
increase it only x12. With a 1% it increases x2.

I expect a big drop in the value, approximately 112-fold, 12-fold or 2-fold
according to how successful the hand out is. And that's the optimistic
scenario, because now it has a very small market and it's easy to manipulate
the price.

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lostmsu
Was not having one global currency - one of the main reasons to introduce
currencies in the first place? All those "national" currencies will be
susceptible for 50%+1 attack.

