I'm very interested in your thoughts on the ISX exchange draining the Bittrex action? ISX exchange does ISX->AUR and Bittrex does BTC -> AUR how do you envision such a thing occurring? Also, in a globalized market how does the team expect to have AUR only for Iceland? How will "foreign" AUR be "imported" just for the sake of Iceland?
I think it will dwarf the volume on bittrex soon.
Don't know. There is place to grow in each market. Ultimately, AUR will flow to Iceland, but way to go. In the next months, there will be some challenges, and already great solutions being discussed. One of these challenges is how to get AUR back to Iceland ? There is already a lot of AUR in Iceland, but we don't know yet how many will actually hit the market. So foreign aur will somewhat need to be ''imported''.
From then, i guess ISX will drain Bittrex action / lets work toward this !
Well just like with Bitcoin there are enough Auroracoin for the whole world in fact. We don't have anything against foreign markets and that a part of the economy exists outside of Iceland. The thing is that we are just focusing on education and adoption of Auroracoin in Iceland not abroad to create a real cryptocurrency economy in a small area. Foreign markets are more than welcome to the economy and in fact are important in any economy.
Take the Icelandic Króna for example it has no markets abroad. The only entity willing to buy ISK is the Icelandic central bank. Not a single entity in the rest of the world would even consider accepting ISK as payment for anything. This puts Iceland in a difficult position as we constantly need to export for more value than we import so we are able to have some currency reserves. This is a very unstable situation and if something disturbs this balance and we would empty our currency reserves, we would have to limit import and could have problems paying our foreign loans.
So like I said. We have nothing against foreign markets and are happy they are there. We have only just claimed that we are not serving these markets right now as our priority is to get Auroracoin adopted in Iceland.