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AuroraSpjall

The official Auroracoin discussion board

why are miners in Iceland mining bitcoin and not Auroracoin?

Almenn umræða um allt sem tengist Auroracoin
- General discussion about the Auroracoin ecosystem

by odin » 01 Apr 2015 22:21

LTEX wrote:True Odin!

But now we get to the essence of this currency! Sure the market cap is peanuts right now, but it still isn't up for sale! I could instantly put up a buy order for the entire market cap, only to find it will fill with less than 0.5%! Unlike regular currencies, you cannot buy your way into it like it were fiat money. The true value lies within it's acceptance, decentralization and scarcity.



Auroracoin is up for sale on cryptsy, even if there are only a few thousand for sale, if the government baught that amount it would send the price up, so we both agree that the price is going up but as the price goes up so more people want to sell.

Secondly there is still many millions of Auroracoin that the government can mine using its own computers.

My point is that Auroracoin objective should be to become the 100% reserve for the Icelandic krona and we need a road map of how to get there. This recent report of a new money system in Iceland is just making a simple solution complicated. We need Auroracoin, nothing else.

Thirdly, 5% of all bitcoin is mined in iceland that's 150 million dollars. If these miners were forced to mine Auroracoin by Icelandic law that would give Auroracoin market cap another 150 million dollars, greatly enriching the people of Iceland, right now they get very little benefit from those bitcoin miners being there.
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by Bimmerhead » 02 Apr 2015 00:36

"Forced to mine"? Crypto isn't about imposing yet more state authority over people's lives, its about freeing people's lives.
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by Dinobotta » 02 Apr 2015 00:43

LTEX wrote:Good arguments Mike!

There are more then 3 people from Iceland here, but a lot more, who are not here, do empathize with AUR and are willing to contribute. Also the events that are to come will draw a lot more attention from Icelanders so I expect the community to grow soon.

On the part of developing infrastructure I like to invite you to the team that is currently working on it. A PM is on the way...


I'm sure things will start moving when the exchange will open. I'm not sure how fast or slow the word will spread but I'm sure it will spark interest and if we will get a nice and steady price increase on the exchange we will see the community grow.
"Lost coins only make everyone else’s coins worth slightly more. Think of it as a donation to everyone". Satoshi Nakamoto
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by BioMike » 02 Apr 2015 14:23

Dinobotta wrote:
LTEX wrote:Good arguments Mike!

There are more then 3 people from Iceland here, but a lot more, who are not here, do empathize with AUR and are willing to contribute. Also the events that are to come will draw a lot more attention from Icelanders so I expect the community to grow soon.

On the part of developing infrastructure I like to invite you to the team that is currently working on it. A PM is on the way...


I'm sure things will start moving when the exchange will open. I'm not sure how fast or slow the word will spread but I'm sure it will spark interest and if we will get a nice and steady price increase on the exchange we will see the community grow.


The spark of interest will only be from a few people (the ones familiar with cryptocurrencies). For the rest you will need to actively involve them. Many people will need some sort of incentive to start using it, they will not switch by themselves. There is also a lot of misinformation (caused by Bitcoin-related news reports) or a good chance that people don't really know about it.
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by Skarfurinn » 02 Apr 2015 19:12

BioMike wrote:
Dinobotta wrote:
LTEX wrote:Good arguments Mike!

There are more then 3 people from Iceland here, but a lot more, who are not here, do empathize with AUR and are willing to contribute. Also the events that are to come will draw a lot more attention from Icelanders so I expect the community to grow soon.

On the part of developing infrastructure I like to invite you to the team that is currently working on it. A PM is on the way...


I'm sure things will start moving when the exchange will open. I'm not sure how fast or slow the word will spread but I'm sure it will spark interest and if we will get a nice and steady price increase on the exchange we will see the community grow.


The spark of interest will only be from a few people (the ones familiar with cryptocurrencies). For the rest you will need to actively involve them. Many people will need some sort of incentive to start using it, they will not switch by themselves. There is also a lot of misinformation (caused by Bitcoin-related news reports) or a good chance that people don't really know about it.


I think nobody expects Auroracoin to be instantly adopted by the Icelandic public. This is something that will take years to acomplish not months.

Lets not forget that over 30.000 claims were done in the first airdrop and even though some were some teens claiming for their grandparents there are still over 20.000 of these addresses that are still holding their initial claim. As far as I know this is the highest exposure any cryptocurrency has had in any one country per capita in the world. These are people who heard about Auroracoin, went and got a wallet and claimed their coins and are still holding on to them.

The reason that Auroracoin lost it's flight here in the beginning is IMO absence of an exchange and the lack leadership and transparency that followed Baldur. We are far along now to mend those problems and then we will have the credibility we need to get merchants to accept Auroracoin and the public to use it.

We have now established the Auroracoin foundation here and it has the goal to introduce and educate the Icelandic public about Auroracoin and the blockchain technology.

Regarding the discussion here that the government should adopt Auroracoin, it is flat out clear that they will never do that willingly nor will it be likely that any other government would. They simply are too afraid to adapt to something they can not control and manipulate. The only way IMO to get a government to accept and go along with any cryptocurrency is if the public chooses it over the local currency and it has gotten too widespread for the government to try and ban it.
I would have written a shorter letter, but I did not have the time. - Blaise Pascal
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