Auroracoin Utilizes Government IDs for a Fair Premine in Iceland

Auroracoin Utilizes Government IDs for a Fair Premine in Iceland

Photo via Helgi Halldórsson. One of the main issues that always seems to pop up with any new cryptocurrency is the problem of premining. Even if an altcoin has a few good ideas, it's extremely difficult to come up with a distribution process that will be fair for everyone. Auroracoin is offering one of the most unique distribution methods I've ever seen in an altcoin, and it could be a model that promotes further cryptocurrency development in other parts of the world. I recently wrote about the reality that no altcoin would ever be able to replace Bitcoin, but the idea of a nationalized....


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Cryptocurrency Auroracoin Given to Every Person in Iceland

A team of Icelandic cryptocurrency enthusiasts is gearing up to launch an altcoin designed specifically for the population of Iceland. Auroracoin is a litecoin-based digital currency, 50% of which is pre-mined. This is where it gets interesting: the pre-mined coins will be distributed to the entire populace of Iceland starting on 25th March. Each one of the country's 330,000 citizens will receive 31.8 auroracoins. Why Iceland? Iceland's banking sector does not have a very good track record, and this appears to be the driving factor behind auroracoin. The team cites the government's use of....

Auroracoin's Market Cap is Highly Inflated

Icelanders will be lining up to sell their auroracoins. Photo via Matt Shalvatis. Many people are pointing to Auroracoin's position at third place on CoinMarketCap.com as proof of this new coin's success, but the reality is that it could be setting itself up for disaster. The coin made headlines when it surpassed Litecoin's market cap, but Auroracoin is not actually closing in on a $1 billion market cap. In fact, the real value of all the auroracoins currently on the market could be lower than $10 million. This would still put it in the top 25, but we could see it drop even lower after the....

How Auroracoin is Forcing Digital Currency Discussion in Iceland

Auroracoin, dubbed 'a cryptocurrency for Iceland', has reached 10% of its total 'Airdrop' distribution goal. Although news about the digital currency has been quiet since its nationwide dissemination, the project will soon launch a gateway that will better integrate with the country's ID system in order to streamline the process via which Icelandic residents obtain auroracoin. Furthermore, recent developers suggest that the altcoin is quietly increasing awareness about Icelandic monetary policy, and generating new discussions about the role digital currencies can play in the country's....

Auroracoin Ads Hit Iceland's Bus Stops, Auroracoin/Krona Exchange Coming Soon

Advertisements for Auroracoin, the Icelandic cryptocurrency, have begun to appear at bus stops all around the country. The advertisement, consisting only of “Auroracoin” in text and the coin’s logo on a white background. The advertisements are part of a public awareness campaign by the Auraráð, or Auroracoin, Foundation. According to Pétur Árnason, Auraráð Foundation chairman, these advertisements are meant to lay the groundwork for a resurgence of the Icelandic cryptocurrency later this year. “We have been preparing for....

Price of Iceland's Auroracoin Falls 50% Against Bitcoin After Airdrop

After weeks of anticipation, Iceland's attempted national digital currency auroracoin commenced its Airdrop - the distribution of 31.8 AUR to interested citizens - at midnight local time on 25th March as part of stage one of its three-part launch. With experts weighing in on auroracoin's novel marketing approach, successors adopting its distribution model and speculators hovering for quick gains, auroracoin's moment of truth had seemingly arrived. Opinions were varied as to what the response to its ambitious launch would be, whether Icelanders would embrace the currency, ignore it or....