Quote from: Skarfur on November 15, 2014, 11:06:48 PM

Quote from: molecular on November 15, 2014, 10:22:33 PM

Quote from: Skarfur on November 15, 2014, 03:38:02 PM

I hope this answers your questions but I'm sure I have raised a few others

Thank you so much for taking the time to answer my questions. This has really helped and cleared some things up. You also added new information I hadn't previously known about (the 1 million, for example).

I agree that increasing the 2nd airdrop 10-fold was not a good move. It scared away past and future supporters / investors and gave fuel to the opposition. As much as I sometimes despise of 'greedy speculators', one has to acknowledge they (alongside the miners and community developers) play a vital role in giving AUR value. I think it would make sense to destroy a large part of the premine prior to 3rd airdrop stage. That also (like increasing the airdrop amount) increases the value of the individual airdrop share (by ways of people regaining confidence in the management of the supply and also by ways of reducing the potential final supply and hence price rising) and it doesn't spread uncertainty and drive investors, miners or general supporters / evangelists away.

The update information is on the blueprint page http://auroracoin.org/blueprint.php ,but I missed this too at first.

I don't see it. For second stage I see this:

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Stage 2
The Airdrop is reset. Every Icelander will be able to claim a part of the coins, left over from Stage 1 in the premine addresses. The amount of coins shall be calculated in the following way: (Stage 1 remaining coins / 330,000 = coins awarded). In this stage and the following, both the original recipients of the coins will able to retrieve their gifts, as well as other Icelanders. This stage will last another 4 months.

clearly that's not what was done.

Quote from: Skarfur on November 15, 2014, 11:06:48 PM

I agree with you. When this matter will be discussed by the ICS I will suggest the option to destroy the premine partially or fully. I think it was a bad idea in the first place and an amount like 1 million is just way too much. This was a break of trust in my opinion and destroying it partially or fully would be respectful to the supporters, investors and miners that have invested their time and money into this coin. That said there are is no guarantee that this will happen as this is not just up to me.

I understand your not making these decisions. Maybe it would be good if Balduro showed up or passed control on.

According to plan the undistributed part of the premine will be destroyed:

Quote

If more than 6% of the total Airdrop supply (10,500,000) remain in the premine addresses after Stage 3, any coins exceeding the 6% mark will be verifiably destroyed.

50% of the remaining coins will go towards a development fund and/or towards an Auroracoin foundation formed by the community. The other 50% will go towards a charity or charities, to be determined democratically by the Auroracoin community.

So 50% of 6% (that's 3%) of the remaining coins were originally planned to be given to towards development, not 1 million.

There's no way I trust the info on that page because the parts that should've been done in the described way just weren't.

If indeed 3180 AUR are distributed per airdrop in 3rd phase, there's no keeping up the exchange rate. It'll plummet to 0.00001 BTC/AUR if we're lucky, probably much lower. There's nothing positive in this for anyone.