Post
Topic
Board Announcements (Altcoins)
Re: [ANN][AUR][MANDATORY UPDATE] Auroracoin - a cryptocurrency for Iceland
by
DaFockBro
on 04/03/2014, 02:40:52 UTC
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.

Ok lets expand the hypothetical case to the world for that matter...what would happen if a new crypto-currency airdropped 0.002525 units to everyone in the world....what would happen?



There would be a massive selloff of that crypto for fiat and the price would crash in the short-term.

The airdrop is basically 10,500% inflation of the currency in one day.  This will cause the price to crash in the short term.

Right now Auroracoin is extremely scarce with only 100,000 AUR.  After the airdrop, it will will lose it's scarcity and drop in price.