Post
Topic
Board Announcements (Altcoins)
Re: [ANN][AUR][MANDATORY UPDATE] Auroracoin - a cryptocurrency for Iceland
by
klatnioctib0
on 03/03/2014, 08:38:07 UTC
I'm not sure how the liquidity of this crypto is on the current exchanges but liquidity will sky rocket after the airdrop even if it reaches 5% of islanders which of course will drive down price. My suggestion is to hold until March 20's and then lock in your profits and speculate the rest however if anyone believes in this coin succeeding beyond a year is greatly mistaken as there will be more sensible Forks and a flood of new cryptos with the same philosophy will be coming soon.

Leyt me disagree with this detail; it's not so sure the price will drive down after airdrop. Of course it is possible, but it depends; there will sure be some portion of the islander who just see a possibility to exchange this to money. But there will also be some portion who will see a future value on this and buy them. The direction of the value depends on the amount and proportion of both groups.
And if it goes down, when the quick sellers are out of coins.. it can only go up.

And we must remember the history of Iceland; they simply do not trust their current fiat, it has been inflated *a lot* during years. Sure they see this coin very differently compared to 'an average citizen' on most of the developed countries. That's why I specially like this: Iceland might be the only or one of the few countries in the word where this actually could success.

I think all Icelandic people who are savvy enough to understand this crypto will want to exchange it as they will only fundamentally understand auroracoins value as being a monetary conversion not a new currency revolution. You and I plus everyone on this thread understand cryptos better that 99.9% of the population in iceland. If someone said heres 30 Cows, you can keep them as an investment in livestock or sell them to for $300, which would you choose, unless your already a farmer the clear chose is to cash out and realize your found money. Also with "Found Money', people spend it free money, be it lottery winnings, tax returns or found money. So expect a dump and if there is stability after the dump possible a rise. In fact ideally you would want gradual adoption as it will limit the available coins and build recognition of the coin. If 100% Icelanders adopt on round 1 then you will have too much liquidity and price will fall however if only 5% adopt there will still be a limited amount of coins on the market and hopefully some will go into commerce and as others anxiously wait for Round 2 of the airdrop then they will have a little more knowledge of the coin compared to the few that do on Round 1.