![Auroracoin Hits 3rd Place in Mineable Market Cap - At $15 / AUR Every Icelander Will Get $477 Free! [Updated]](maxthumb/auroraback.jpg)
Auroracoin Hits 3rd Place in Mineable Market Cap - At $15 / AUR Every Icelander Will Get $477 Free! [Updated]
Auroracoin, which we covered previously, just hit 3rd place in terms of market capitalization. It's up over 300% in the last 24 hours, a phenomenal leap even for the famously volatile cryptosphere. With a price of $15 per coin, its market cap of nearly $160 million gives it a total value of just under half that of Litecoin and over twice that of its nearest rival, Peercoin: Market Cap rankings. Auroracoin will have a total issuance of 21 million coins, half of which will be evenly distributed to every Icelandic citizen on the 25th of March. As Iceland's population is around 320k people,....
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We reported in mid-February on Auroracoin, a 50% premined altcoin that will be distributed to everyone in Iceland on March 25. Auroracoin takes the chance. While the cryptocoin community was focusing all of its attention on Mt. Gox, Auroracoin’s value has suddenly taken off. In one 24-hour period this week, the value of the coin rose by more than 300%, giving it the third-highest market cap of any digital coins, behind just Bitcoin and Litecoin. At the time of writing, Auroracoin has a market cap of just more than $196 million on a total supply of 10.5 million premined coins. Each....
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....
Iceland's Parliamentary Economic Affairs and Trade Committee held a formal discussion regarding auroracoin in closed meeting on 14th March. Auroracoin is a digital currency based on the litecoin source code, and a portion of it will be provided for free to Icelandic citizens. It has experienced a remarkable surge in popularity as an alternative to bitcoin, passing litecoin in total market cap in early March for a short period. It is currently the number four digital currency by market cap. Only political figures and central bankers reportedly attended the Parliament meeting, however,....
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....
Auracoin Airdrop. The Auroracoin Airdrop took place on March 25th with the result in line with what was predicted byCryptoCoinsNews - A dramatic price drop. The Auroracoin Airdrop was a method of distributing 10.5 million Auroracoins to about 330,000 Icelanders or 31.8 Aurorcoins each. In some ways, the idea is quite good. Crypto coins could operate as a national currency. If they did, we would see how adoption by a nation could cause greater stability in price and also greatly increase the value of the coins. As such Auroracoin gained much popularity, and at one point its' market cap was....