So you're telling me all I need to do to make a ton of money is:
- Create a clone coin.
- Set it to low reward/high difficulty.
- Premine the majority of it and keep those coins out of circulation (and make up a good reason for premining so many to avoid negativity).
- Get the coin onto an exchange/CoinMarketCap.
- Let people gawk over the value (due to the fact there are so many coins in existence but not in circulation, therefor locking in that higher price due to the inability for the public to dump it).
- Coin price will skyrocket due to the stable high price and huge market cap (due to all the premined coins).
Who knew it was so easy? I'd be willing to bet we'll see a few more coins do this before people catch on. Maybe I should get into coin development...
In 2008 Iceland experienced the following:
-All 3 national banks failed
-Their currency halved in value
I think that people are hoping that Auroracoin will be the first case of a country with currency problems adopting a cryto-currency over its fiat currency.
If it works it will pave the way for other countries with currency problems to do the same thing.
Auroracoin may do for a country what Bitcoin did for the world and I think people just want to be part of it.