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.
If you want a coin that has serious potential... MazaCoin... Official coin of a sovereign Indian nation.
Think about it, in the U.S. , Indian reservations have their own sovereignty like other nations. In short, this a coin that is official!
It's not some wanna be gimmick like Auroracoin... anybody can make the claim... let's airdrop to X country.
This is actually a great idea.
If first nations peoples did this I would use the coin every time I went to the reserve to buy cigarettes, gas or sit down for a tasty meal of Walleye.
On top of this, first nations could leverage crypto-currencies to run their own economies without having to deal with headaches from government.