Skarfur thank you for the update, this is really good to hear.
We have however not fully decided what direction we should take regarding the mining algo. This has been discussed back and forth. What I hope to see here is some discussion and opinions from the community. As we see it there are just two options to think about. Use an algo that is asic resistant and thus give the individual a chance to do some mining at home. This however is often an illusion as most of the asic resistant algo's are largely mined my gpu mining farms thus beating the point. Of course there might be other algo's out there that are gpu resistant but how reliable are they? The other option is to either go with SHA-256 or continue with scrypt and be mined mainly be the large mining farms. This option in many ways is good as it has much more potential to secure the network so we have been leaning towards this. This would also give us a good opportunity to be merge mined with some of the larger coins which would be a brilliant way to secure the network. It would be great to get some opinions and ideas from you guys regarding this matter.
Well I think this is enough for now. I just wanted to let you all know that this is being worked on and that all of you are invited to take part in this great project. I'm sure there will be a lot of questions and I will try my best to answer them.
I'd like to see merged mining with bitcoin or litecoin. While I understand the attraction of mining, I think security of the network is paramount. I would think Icelanders especially want to know that their currency is not going to be attacked. Auroracoin is especially vulnerable on this issue because of the threat of attack back in the spring.
Yes that is my own opinion and it's good to get some feedback from you guys regarding this. If someone disagrees on that it would be great to hear why.
The national currency is the strongest brand of a country, for those who are using the currency daily. Auroracoin is a Icelandic currency and I will not dilute that by merged mining, if there is another way to secure the coin.
20 years from now I will be pleasantly surprised to hear that Auroracoin is mined only in Iceland with clean, green energy. And the mining profit is invested back in green projects around the world. So instead of more aluminum you are producing more freedom.
A deal with industrial miners based in Iceland can be a way to archive that.
I understand your idea on that but I think that is very unlikely to happen. Crypto mining will always be borderless so there is no controlling who is mining and from where. So as long as there are exchanges offering Auroracoin paired with anything else than isk there will be miners from around the world mining and trading it. But on the bright side the largest mining farms for sha256 and scrypt are increasingly looking towards Iceland to set up their mining farms. For instance around 20% of bitcoin is mined in Iceland today and our hosting companies can't build the facilities for mining fast enough as the demand is so high.
If anyone would have some ideas on how mining could be done mainly by the Icelandic public without costing the network security we would of course be more than happy to listen and consider those ideas.