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Showing 2 of 2 results by hringhorni
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Re: - AURORACOIN -
by
hringhorni
on 26/09/2018, 10:48:54 UTC

To finance these operations the Auroracoin Foundation / IBF sold a big part of the M1 fund a few months back. The funds have been used for the re-branding, salaries for the CEO, meetups, office expense and events here in Iceland and will financially secure future operations of the foundation.

It is our hope that the work we are doing and the means we have chosen to use the funds will have the greatest impact for the greater good of crypto/blockchain and Auroracoin in Iceland.


So the foundation:
  • Ditched the Auroracoin brand
  • Sold the vast majority its Auroracoins
  • Repurposed the proceeds to fund things not directly related to the coin

Let's face it. You guys abandoned the project.
Post
Topic
Re: - AURORACOIN -
by
hringhorni
on 22/09/2018, 07:56:33 UTC
Has the foundation quietly liquidated it's AUR holdings?

Their website (http://aurarad.is/sjodurinn/) reports they should have 968.323 AUR, but in reality these addresses only hold 200.001 AUR.

That's a difference of 768.000 AUR!

Do the devs have any plan for this coin for when all the coins are fully mined (in about 3.3 years!)? The devs removed block halving so the 21 million cap will be hit soon, as 16.6+ million coins have already been mined (11.3 circulating 5.3 burned), and 2.5 AUR keep getting created every minute.

3.3 years until there are no more coins to mine!

Are you going to do a perpetual inflation model to secure the chain, or just use checkpointing on a centralized server.

Who would hold this coin? Not even the foundation it seems.