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.
Why did the coin have to launch and airdrop in a matter of months? Why such a rush?
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?
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?
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.
it’s over for auroracoin. i am surprised all the exchanges didn’t drop it.
it’s over for auroracoin. i am surprised all the exchanges didn’t drop it.[/quote]
It is not over yet. I understand that they are now applying checkpoints in the code like Peercoin and Primecoin have (see same thread and dev response on their forum). Hope no-one complaints about this anymore for Peercoin for a while. It is really our safeguard till we have sufficiently secured the network. Not sure which variants they chose, the Peercoin or the Primecoin one. So whatever happens they can always go back to a certain point. Won’t be great, but it won’t be the end either.