in which case wait for giant price drop from airdrop before buying?
Probably. I’m selling a good bit of my AUR now. Although, the price could skyrocket before then.
It has just been very close to the Litecoin marketcap. Haven’t seen that before. Wouldn’t be surprised if they surpass it before the airdrop happens. Will ruffle a few feathers in the Litecoin camp.
Fascinating times and probably a reason why the markets are nervous and Peercoin is down.
Had to post this, courtesy coinmarketcap.com. They don’t do historical data as far as I’m aware
1 Bitcoin $ 7,286,820,321 $ 584.45 12,467,825 BTC $ 21,018,371 +3.14 %
2 Ripple $ 1,410,566,331 $ 0.014 99,999,997,890 XRP* $ 91,447 +2.79 %
3 Auroracoin $ 415,271,296 $ 39.18 10,599,076 AUR $ 1,008,857 +64.99 %
4 Litecoin $ 338,165,807 $ 12.90 26,204,354 LTC $ 8,742,090 -5.23 %
5 Peercoin $ 66,104,122 $ 3.12 21,194,990 PPC $ 1,223,453 -5.58 %
Fascinating Top 5. Is Ripple next?
At current prices it means that each Icelander will be given $1k+, quite ridiculous and immoral.
But it isn’t my point, I cannot find whitepaper and distribution description, from what I understand there will be some linkage between national IDs and the coins.
Due to the capital controls put in place in 2008 to stop money flight on the króna, buying and selling Bitcoin in Iceland, which appears to consider Bitcoin as a foreign currency, is Illegal. The Icelandic Central Bank confirmed that "it is prohibited to engage in foreign exchange trading with the electronic currency Bitcoin, according to the Icelandic Foreign Exchange Act",[19] however commentators suggest bitcoins mined within Iceland could be freely traded.Does anyone know legal status of airdrop coins? Will there be some kind of 'blinding' on IDs? W/o those answered it could be v. dangerous for ppl.
I could make a coin, premine 1 trillion, and leave some coins to be mined. I will mine 1 coin and trade it on an exchange I setup, where I will sell the coin for $1. If no one buys it, I buy the coin myself. Then I will claim that the coin has a marketcap of $1tr.
Hmm, maybe you’re right and I’m getting your point, but why aren’t we flooded we such coins yet?
Auroracoin is now trading at the same high volumes as Dogecoin, so at least it is interesting for speculators. That doesn’t seem the case with those other non-mineable coins with high marketcaps or very low number of coins. The experiment and the promise is probably a larger factor on the exploding marketcap.
@kactech, I don’t think anyone knows the precise legal status of this as it is without precedent. And no-one knows how the receivers would behave to receiving such an amount of money on such scale, and I think those are the reasons why the speculators are having a frenzy right now.
Auroracoin now almost have double the marketcap of Litecoin.
These are fascinating times for observers like me 8)
[quote=“mhps, post:11, topic:1721”]I could make a coin, premine 1 trillion, and leave some coins to be mined. I will mine 1 coin and trade it on an exchange I setup, where I will sell the coin for $1. If no one buys it, I buy the coin myself. Then I will claim that the coin has a marketcap of $1tr.[/quote]Do you guys want to do this? I’m completely serious. I think it would be fun.
Just to show how absolutely crazy people are when buying up coins, I’d be all for it. Count me in! 
call it MarketCapCoin just for giggles 
“unofficial coin of CoinMarketCap”
Fuzzybear
Call it MCC?
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Yup, MC.
It needs to go really out there, too, almost meme-ish. Bright pink coin, or something totally noticeable and that will capture the eye. Oh, and instead of a circle/coin, make it a hexagon 
Also, I propose we drop the “coin” and just call it “MarketCap” or “MC”.
Follow-up thought: Not only do you need to “sell” one of the units for $1, but if you sell the same couple of coins back and forth between the early adopters, you can totally blow out the volume, too.
call it MarketCapCoin just for giggles “unofficial coin of CoinMarketCap”
Fuzzybear[/quote]
Or call it “BuyPeercoinCoin”. Free advertising!
We could also have an IPO so we have a huge amount of BTC to shuttle back and forth in the exchanges.
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It is easy to bash coinmarketcap.com. Don’t forget that even coindesk reports based on this as there isn’t something better. If you think you can think of something better and fairer and ideally would benefit Peercoin than please join me in the thread PPCman opened here: http://www.peercointalk.org/index.php?topic=2432.msg20136#msg20136.
I think that perfectly fits into better positioning Peercoin as we are still very weak in that.
BTW on-topic again, Auroracoin, clearly positioned, is now more than double the Litecoin marketcap, half of Ripples and has volumes of over $4m, many times that of Peercoin. I think something else is going on here, the experiment and the risk that this coin might, just might establish itself is attracting a lot of people. I think this experiment, if only half successful will benefit all cryptos on the way to gain broader support, so although I’m not investing I do support this experiment and their founders.
Ever see the TV show “The Real Hustle” ? You can catch some of them on Youtube.
This is what I personally think of Auroracoin, just my .02 cents.
There are just too many questions.
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Why did the coin have to launch and airdrop in a matter of months? Why such a rush?
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Look at this page: http://www.auroracoin.org/getinvolved.php
“This page will be updated once the community starts growing”The airdrop is in 23 days. How well thought out is that?
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The coin appears to be a pump and run for the one-and-only developer, but now its garnered a little too much attention and is a little too popular. Now maybe he’s re-evaluating his plan to actually do some sort of attempted airdrop, but still run away with “less” afterwards. How do we audit who he is airdropping coins to? How many wallets will he own? Is he airdropping to himself, or his family at all? How about his friends?
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At the current coin price, you’re basically plopping $1700 USD worth of Auroracoins into each Icelandic person’s lap. No existing stores to spend those coins. No time to even plan out a roll out of merchants, nothing. Of course they’re going to sell them. Those that don’t know how to install a wallet, will sell them to someone who knows how to liquidate them.
The whole thing stinks either from poor planning, or a scam from the beginning. This is my personal opinion.
Now I’m going back to go watch some more “The Real Hustle” re-runs on youtube.
I guess the price of Auroracoin will collaps as soon as the airdrop lets a huge number of coins flood the market. Well, since many people would realize this so the price drop will happen before the airdrop.
While we are at “MarketcapCoin”, we could use the test net of PPC to generate such coin and call it This-is-not-Peercoin (TIN-PPC). Put up a google spreadsheet exchange between it and the USD to create marketcap. Everyone registerred in peercointalk will be “airdropped” 1 million TIN-PPC to play with (DOGE has proved that big number of coins matters when it comes to attracting the general public), paid from the premine. Put the premined ~1tr coin off line so that they don’t compete in POS minting. Those who own TIN-PPC will have a blast minting. More publicity for PPC, more user of the forum, more owner to experience POS, and more tester the PPC development.
Some new developments in this space. Someone is going to ‘test’ Kimono’s Gravity Well on Auroracoin.
https://bitcointalk.org/index.php?topic=504103.20 BTW the thread is not for kids, some pretty rough language in here.
We should all keep those ‘tests’ in mind when Sunnyking is taking his time to update the client.
New development with AuroraCoin https://bitcointalk.org/index.php?topic=546338.msg5997718#msg5997718
it’s over for auroracoin. i am surprised all the exchanges didn’t drop it.