Quote from: DaFockBro on March 04, 2014, 01:22:26 AM

Quote from: Lloydie on March 04, 2014, 01:17:31 AM

Quote from: DaFockBro on March 04, 2014, 01:14:14 AM

Why don't people wait until after the massive sell-off to buy into this? I think it's a great idea, it's just absolute retarded madness to be buying in prior to the airdrop.

At the current price, every single citizen of Iceland will be given $1758 worth of Auroracoin for free during the airdrop.

There will be a massive crash in price as many Icelanders make the rational decision to immediately cash out their $1758.

No. I think they will immediately try to cash out 10% to 50% (provided they figure out how to do it), most likely around 20%. Most will buy bitcoin with it. Others in Iceland will be buying it up like crazy to exit krona and convert to usd. As AUR rises relative to krona, I think people will switch to hold or accumulation.

Have you ever given a non-crypto person some Bitcoins or crypto before? Typically their very first question is "how do I get $ for this?"

You have to be realistic about it. It's basic economics. When you flood an entire market with a free good, there will be an oversupply of that good. This will lead to a massive drop in price as all the sellers start selling (even if it's just 20% of Icelanders trying to sell, it'll lead to a massive crash)

Yet the price of bitcoin rises. Sure. I accept that the possibility of a price crash cannot be eliminated. However, I think Icelanders are smart and most likely AUR will stabilise.

Plus it will not be easy for most Icelanders to sell it. They will have to learn about cryptos first.