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Free Auroracoins for Icelanders / Opportunities for GEI-ers

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Free Auroracoins for Icelanders / Opportunities for GEI-ers

I am now studying the launch of new cryptos, and I am looking closely at Auroracoins, a new Icelandic Crypto.

This is truly an interesting experiment in distributing a new coin.

They will be using an "airdrop" to gift coins to all the citizens of Iceland, that's 330,000 people.

This is explained in this short video:


I want to track this "airdrop" experiment, and have made some suggestions about how to promote the coin, on a thread on the Aurora Coin development forum:

> http://forum.auroracoin.org/viewtopic.php?f=8&t=44

When I first posted this thread, one of the coin holders was giving away 0.25 AUR for free to interested parties.

In theory, since a AUR was then worth $5-6, the AUR 0.25 was worth something like $1.00 - $1.50.

Check post #3 below, and you can see how that worked. A few days later, the value of the AUR jumped by 5X-6X.

 

As other opportunities arise in the AUR sector, we will discuss them here.

=== ===

Link to here - :: http://tinyurl.com/GEI-AUR

AUR Video -- :: http://tinyurl.com/GEI-AURlaunch

AUR, MktCap :: https://coinmarketcap.com/currencies/auroracoin/

Trading AUR :: And other Cryptos, via Cryptsy

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The Icelandic Kroner over the long term has dropped like a stone,

Kroner_LT.png

 

so no wonder some Icelanders think there may be a better way.

 

The US Dollar is now worth about 112.5 Icelandic ISK, and the Krona has had some decent performance:

strengthening from USD = 127 ISK, a year ago - that's nearly a 13% rise in a year.

 

usd-isk-365-day-exchange-rates-history-c

 

... But the Icelandic people have seen the flaws in traditional approaches to finance and are eager to become less dependent on their banks, especially after the turbulent banking history of the lest several years.

 

And the recent stability in the Usd-ISK seems temporary: Only x years ago, in 201-, the USD fetched only 65 ISK.

 

Here's how Baldur Friggjar Odinsson, the founder of the AUR-coin explains the need for a new Crypto:

EXCERPT:

"The Icelandic economy is slowly bleeding. The people of Iceland are being sacrificed at the altar of a flawed financial system, controlled by an elite that made astronomical bets supported by the government on behalf of the people and ultimately at the expense of the people."

 

"The devaluation of the Icelandic krona, or the ISK, is not just a temporary phenomenon. The entire history of the currency is one of inflation and devaluation. Since 1960, in just over half a century, the Icelandic krona has lost over 99.5% of its value in U.S. dollars – at a time when the dollar lost 98% of its value relative to gold! At one time during this period two zeros were taken off the currency and new bills printed to replace the stock of bills. Now, the highest denomination is back up to 10,000 ISK, which would have been a million krona bill had the two zeros not been removed.

The M3 money supply in Iceland is in the order of 14 billion dollars. The population is only around 330,000 people, about the population of Santa Ana, California."

 

> see: http://auroracoin.org/

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How to get FREE a Auroracoin wallet and 0.25 AUR:

 

wallet.jpg

 

CLICK on this link : http://auroracoin.org/

 

And upload the / auroracoin-qt for Windows / to your computer.

 

When you run it, it will download a simple AUR wallet onto your computer, and you can get you an address for receiving Auroracoins.

 

The process is more fully explained, here - in this description of downloading a LiteCoin wallet:

> http://www.coinqa.org/setup-litecoin-wallet-on-pc/

(the installation of the AUR wallet works in the same way.)

 

TO GET YOUR FREE AUR 0.25,

You need to go here : http://forum.auroracoin.org/viewtopic.php?f=8&t=62

and be one of the first 200 to leave your new AUR address

 

My own AUR address is : AcWaBZcysXzXLJGRNgTpku7P8Kfqo4UvQn

 

If you want to experiment, you can try sending 0.01 or 0.05 AUR to that address, and ask for a report.

Perhaps AUR will be a currency we can use on GEI, and use for various experiments and tests.

 

========================================

 

Remember, Aurora coins were/are basically a clone of the Lite Coin (to start out),

and each LTC was once worth about 1/100th of a Bitcoin.

 

So with the Bitcoin at $500-600, one LTC = $5.80 and one AUR something like $5-6.

 

The liquidity will improve after the "Airdrop", but there may be some pressure on the price, since some may just sell their coins.

Many others will just hold, and see if they have value later.

 

Each Icelander will be receiving AUR 31.8 in the Airdrop.

At $5 per AUR, that would be worth : USD $159.

(in edit: When the AUR hit $20, the 31.8 coins were worth: $636.)

 

AUR are priced in Bitcoins, and early on, during the giveaway, there are already many sellers at 100 AUR per BTC.

If my trading intuition is right, the number of sellers may be expected to increase after the drop.

 

The founder of Aurora coins is encouraging developers to design new aps,. and Icelandic merchants to offer products priced in AUR

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IDEAS involving Auroracoins

 

I have received my AUR 0.25 now, so the giveaway really works.

 

What's next? More idea generation - like this...

 

(I posted this on the Auroracoins Development Forum):
> http://forum.auroracoin.org/viewtopic.php?f=8&t=44&p=484#p484

 

oscar2.jpg

 

A Contest-of-newly-created Videos, to help promotion of the AUR-Coin:

You could start a contest, with the WINNERS to be announced just before the Airdrop.

Overall Top Prize for : BEST YOUTUBE VIDEO (under 5 minutes)

You could give Prizes in Auroracoins to:
+ Best Overall Video
+ Best explanation of how Auroracoins work
+ Best suggestions for the use of Auroracoins :
:: In Iceland, and maybe:
:: Globally too
+ Funniest Video
+ Shortest effective Video

=== ===
I am also wondering what the largest exports of Iceland are?

Products that are attractive to foreigners, can be bought in Iceland (with AUR),
and exported out.

The advantage of this... is that this activity would generate an interest in foreigners in holding AUR.

Here's a good one:

An Icelandic company aiming to Mine Bitcoins (yes, BTC, not AUR),
might be a very attractive investment to foreigners.


Why? Because of Iceland's low energy costs, and because there should be a much lower cost in cooling the mining machines.

If I could buy AUR and invest them in such a company, and receive BTC as dividends, it might be very attractive.

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MORE Alto-coin giveaways... because the free AURs will not be available for long.

They are called "Faucets":

 

http://altcoingiveaways.com/index.php/topic,801.0.html

 

!! The AUR giveaway may be finished now. !!

( I hope some of you got some... )

 

AuroraCoin Review: Does the cryptocurrency AuroraCoin
... have the potential to revolutionize Iceland?

=

=

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ARE AURORA COINS ONLY FOR ICELANDERS?

 

Someone who is enthusiastic about the potential for AUR in Iceland has told me, by PM:

 

(He does not want to assist the international promotion of AURs):

"... Because I think that many people in one location use a particular coin, I don't necessarily think it makes sense to promote it outside of Iceland... yet. The unique characteristic of AUR - what makes it different from so many other coins - is the airdrop of coins into one, small location."

Hey, I get that point of view, and it may prove to be 100% correct.

But I do not necessarily agree. I think diversifying the holding and ownership in the AUR to outside Iceland may enhance its value, and could lend stability to the price within Iceland. Think of those foreign buyers as just another "Merchant", who is accepting the coin, and not disgorging it immediately. A higher AUR price, increases the value and appeal of the giveaway in the airdrop.

But whomever is right on this issue, I think we both agree that:
+ The launch of AUR is a worthy experiment, and
+ We both want to see it be successful

So from me, there is only goodwill from me towards this different point of view.

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COMEDY VIDEO to promote the Airdrop

 

This little 1 minute Video may trigger the Video Competition that I wrote about in post #4:

 

410264-61c12e60-742c-11e3-b21a-c1acf4d34

 

AuroraCoins : The Secret is Out !

 

Walter Mitty's Secret Auroracoin Airdrop

 

(I am hoping the Devs may offer some prizes... to the Best of several competing promotional Videos)

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AUR Now Quoted - it shows up on the CoinMarketCap site

 

1 Bitcoin.pngBitcoin--- $ 7,229,966,677 $ 580.43 12,456,225 BTC $ 15,083,170 : +0.65 %

2 Ripple.pngRipple--- $ 1,399,219,970 $ 0.014 99,999,997,890 XRP* $ 27,959 : +0.93 %

3 Litecoin.pngLitecoin---- $ 371,722,202 $ 14.24 26,104,854 LTC $ 726,734 : +0.39 %

4 Auroracoin.pngAuroracoin $ 163,850,055 $ 15.47 10,589,476 AUR $ 217,453 : +403.88 %

===

 

#4, at $163.8 Million !

That's $15.47 x 10.59 million coins ; price up: +404% !

Actually very good. Ahead of all these others:

 

5 PPCoin.pngPeercoin------- $ 74,638,847 $ 3.52 21,181,972 PPC $ 19,260 -1.72 %

6 DogeCoin.pngDogecoin ------ $ 62,511,647 $ 0.0011 54,969,252,475 DOGE $ 1,303,655 +0.56 %

7 Nxt.pngNxt -------------- $ 47,369,179 $ 0.047 999,997,986 NXT* $ 72,030 +0.46 %

8 MasterCoin.pngMastercoin ---- $ 30,201,411 $ 53.63 563,162 MSC* $ 2,455 -0.29 %

9 Namecoin.pngNamecoin ----- $ 27,954,104 $ 3.43 8,148,342 NMC $ 5,034 +0.60 %

10 ProtoShares.pngProtoShares -$ 22,321,718 $ 14.39 1,551,298 PTS $ 1,474,867 -2.77 %

11 Counterparty.pngCounterparty $ 13,375,430 $ 5.05 2,648,736 XCP* $ 15,287 +15.02 %

12 Quarkcoin.pngQuark -------- $ 12,665,518 $ 0.051 247,618,602 QRK $ 103,427 -1.59 %

 

> see: http://coinmarketcap.com/

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The AUR was even higher a few hours ago - just after its debut

 

Auroracoin debuts! | Max Keiser

www.maxkeiser.com › Headlines

14 hours ago

- auroracoin (@auroracoinIS) February 5, 2014.

 

It’s just launched and has an $88 million market cap on coinmarket. Obviously, this will be very volatile in the first hours and days as supply becomes available to meet the demand so the price may fall quite sharply in these early days (especially as that pre-mined supply comes online). . . but great job actually launching it! I know from experience that it will have been quite a great learning experience by actually just doing it! Learn, innovate, experiment, imagine!

 

Auroracoin Hits 3rd Place in Mineable Market Cap - At $15 / AUR ...
www.cryptocoinsnews.com/.../auroracoin-shoots-3rd-place-mineable-coi...‎

2 hours ago

- Auroracoin will evenly distribute 31.8 to each Icelander citizen on the 25th of March. At the current rate of exchange, that's $477 free to each ...

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New Tool for Iceland's Entrepreneurial Economy ?

...Enhanced by Global Cooperation ?


It seems possible that AUR could become the main currency of a vibrant entrepreneurial economy within the small country,

....while the Kroner and the traditional Icelandic economy remain moribund.


If the AUR is successful, it may make sense to forge some ties with the innovators in other parts of the world. And that may suggest looking for common cause with places like Hong Kong. The currency will be better supported, and more useful in supporting global trading.


BITCOIN ATM OPENS IN HONG KONG

Get your Bitcoin in cash: World's second Bitcoin ATM


=
=


Some folks in HK think that our smallish-but-powerful Financial Center has the potential to be THE CENTER of the Cryptocoin Universe. But I suspect people are thinking the same thing in London, New York, and other cities, even Reykjavik. The race is on! And global cooperation may help determine the winner.

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Where have AUR's been Traded ? How much Volume ?

 

#4. Auroracoin (1.10 % of Total Volume, over 24 hours)

 

Source------: --Pair-- : Volume (24h) Price : Volume (%)

 

Crypto Rush AUR/BTC $ 342,045 : $ 21.67 : 69.65 %

Poloniex ---- AUR/BTC $ 149,079 : $ 21.33 : 30.35 %

==========Total/Avg $ 491,125 : $ 21.57 :

 

==

> http://coinmarketcap.com/volume.html#aur

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A second Giveaway may be underway

 

Check here: http://www.Auroracoin.org

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As Auroracoin “Airdrop” Approaches, What Does It Mean When A Nation Adopts A Cryptocurrency?

Posted 16 hours ago by John Biggs (@johnbiggs)

screen-shot-2014-03-01-at-8-55-53-am.png

 

Iceland has its own Satoshi. A programmer called Baldur Friggjar Odinsson has created an alternative to bitcoin that he is calling AuroraCoin and in twenty-three days he will “airdrop” 31.8 coins to every citizen of Iceland – all 330,000 of them.

It is, in short, a pretty ballsy move.

 

Aurouracoin (AUR) will work just like bitcoin and it’s already surprisingly popular. It’s worth $15 per coin and at launch 21 million AUR will be made available to all of Iceland’s citizens. They will use their private ID numbers to check in and receive their coins. Mining is performed through proof-of-work operations, just like bitcoin.

 

To be clear there is no telling how popular Odinsson’s idea will be and who or when the citizens of Iceland will start using their currency. In his manifesto, he blames the Icelandic government for “bleeding” the country.

 

“The people of Iceland are being sacrificed at the altar of a flawed financial system, controlled by an elite that made astronomical bets supported by the government on behalf of the people and ultimately at the expense of the people,” he wrote. “The power must be taken away from the politicians and given back to the people.”

 

Auroracoin is, in short, worthless at the outset. The goal, however, is to allow Icelandic citizens to once again trade outside of the country. I spoke with Odinsson about his idea and he was very forthcoming. First question? Why not just give everyone a bitcoin?

 

“I wish I could. Alas, it is all but impossible for Icelanders to buy bitcoins for themselves, let alone for a giveaway. Since the banking collapse in 2008, Icelanders have been subject to strict capital controls,” he said. “This means people are not allowed too freely exchange the national currency, króna, for foreign exchange such as dollars or euros. So people can’t buy bitcoins, unless someone is simple enough to exchange bitcoins for króna.

 

“Giving people Auroracoin is a way of introducing the nation to cryptocurrencies, currencies that can’t be controlled by politicians and central bankers. This is an attempt too bootstrap a network effect. The government will not be able to control how people use their money if the people choose to use Auroracoin rather than the króna.

 

==

>more: http://techcrunch.com/2014/03/01/as-auroracoin-airdrop-approaches-what-does-it-mean-when-a-nation-adopts-a-cryptocurrency/?ncid=rss

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Check this thread - i think it was possible a few hours ago, maybe now too:

 

http://forum.auroracoin.org/viewtopic.php?f=18&t=180

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Trading AUR :: And other Cryptos, via Cryptsy

 

So AUR is now trading on CRYPTSY

 

Latest price : AUR/BTC : 0.0480 = $27.65

so:
BTC-$576 x 0.048 = $27.65
===
Open : 0.04824
High. : 0.04837
Low - : 0.04802
Close : 0.04828
Volume 81.395 btc x $576 = $46,884
===
SELL: 0.0480000
BUY- : 0.0479999

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This video explains why Iceland has an advantage in mining Cryptocoins - will it be a powerhouse?

Two Powerhouses of Bitcoin Mining : Iceland and Hong Kong

=
=
It is based on an earlier video about Energy Waste, now much shortened in this version

 

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Question about Holding / Spending AUR, for non-Icelandic people:

 

"How does the AUR enable me to use it out side of Iceland ?"

The easiest way would be:

(When you are ready to spend the value, or think the value may fall):
Exchange it for Bitcoins, or fiat which you can spend outside the country.

Because of the "rooted-ness" of the AUR, it may be a better Alt-coin to hold as a store of value,
than most of the others

Those roots are now going down in Iceland, and it will take time to see how many merchants
accept it, and hence how deep and strong the roots become.
(in time, there may also be some merchants outside Iceland whom accept it. Time will tell)
===
Go_Aurora_go_my_son_go.png
The above image from the last page is too small.
You need to upload it again from your machine, and take it one step further.
Click on the thumbnail, so it expands, and then extract/copy the Larger image

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So Aurora is cloned from Litecoin, the difference being that it has been 50% pre-mined and these coins will be distributed hopefully evenly amongst Icelandic folk? However each Icelander will only receive 31.8 Aurora, which amounts to a total giveaway of 10.5 million Aurora to a population of 330000.. Litecoin is designed to mine a total of 84 million, if Aurora is a straight forward clone then the give away is in fact around 12%. If on the other hand we accept that the 10.5 million is 50% of the mineable total, then we have another 10.5 million available to the miners.

 

Screen_shot_2014_03_04_at_18_54_54.png

So according to CoinmarketCap.com the total supply is currently 10.6 million, so I assume 10.5 million of this is being held in the give away account for the airdrop on 25/3/14? The other 0.1 million is what the miners have managed to dig up for themselves. According to the Aurora forum there were at least half a dozen mining pools established as early as 13/2/14, - earliest post on the forum 10/2/14, so they certainly hit the ground running! (word of mouth, a nudge and a wink, how does it work??).

 

The mining aspect of crypto currency I find to be the most bizarre and opaque area of the commodity analogy. With real world commodities, miners are obliged to sell on much of what they find to cover production costs. Crypto "miners" not only produce, but appear to mostly hold indefinitely, as well as regulating the existing market place.

 

Who are these 'miners', are they just thousands of individual opportunists who just happen to have a spare 'rig' to leave thrashing 24/7 in a spare corner, or are these mining pools actually representative of a much more centralised high end endeavour, simultaneously mining for dozens of crypto currencies?

 

Bit coin mining certainly appears to need access to industrial levels of computing power.

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Good questions, AJS.

 

Have you seen my Videos on Cryptocoin Mining costs?

 

Here's the shorter version - which has been better received - 39 views - since Mar. 3, 2014

Future Powerhouses of Bitcoin Mining : Iceland & Hong Kong?
=
=
Bitcoin mining is wasting a huge amount of energy, and it may just get worse soon if Bitcoin prices rise. Right now, the electricity consumed to mine them is probably somewhere north of $250 million...

 

There is also a longer version (19.52 minutes ) - only 40 views since Jan. 6, 2014

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AURora Coin - Being taken seriously... so far

 

Compare:

No.- : Coin : MarketCap. : $-Price : No.-O/S / Volume,24hr
#01 : BTC : $ 8.103 bn : 649.58 : 12.48mn / $38.55 mn
#02 : RPL : $ 1.558 bn : $0.016 : 99,999m / $197,639
#03 : AUR* $ 619.4mn : $58.42 : 10.60mn / $ 3.11 mn
#04 : LTC. : $ 416.5mn : $15.86 : 26.27mn / $32.06 mn
#05 : PER : $ 73.29 mn : $ 3.46 : 21.20mn / $ 1.40 mn
#06 : DGC : $ 57.79mn : $0.001 : 21.20mn / $ 2.21 mn
. . .
#11 : QRK : $ 11.22mn : $0.045 : 247.6mn / $ 53,940
#23 : MAX : $ 2.675mn : $ 0.37 : 7.324mn / $252,431
==========
AUR now looks like "the real deal", and Max Coin does not

*AUR hit a high of $100 yesterday (!!), and then dropped sharply
==
> http://coinmarketcap.com/

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AUR is having some growing pains.

 

Confirmations are taking a long, long time:

http://forum.auroracoin.org/viewtopic.php?f=8&t=223

 

As someone there says:

"It this mess goes on until the time of the air drop it's not going to be pretty."

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