> Auroracoin is a cryptocurrency for Iceland. It is based on litecoin and is 50% premined. The premined coins will be distributed to the entire population of Iceland, commencing on midnight 25th of March 2014.
If we discount the 10,500,000 premined coins, we get only 94,451 "wild" coins, increasing slowly until March 25th. In the "best" case, the circulating coins well increase x112. A less successful hand out to a 10% of the population will increase it only x12. With a 1% it increases x2.
I expect a big drop in the value, approximately 112-fold, 12-fold or 2-fold according to how successful the hand out is. And that's the optimistic scenario, because now it has a very small market and it's easy to manipulate the price.
> Auroracoin is a cryptocurrency for Iceland. It is based on litecoin and is 50% premined. The premined coins will be distributed to the entire population of Iceland, commencing on midnight 25th of March 2014.
From http://coinmarketcap.com/mineable-all.html
> Price: $ 17.31
> Total Supply: 10,594,451 AUR
If we discount the 10,500,000 premined coins, we get only 94,451 "wild" coins, increasing slowly until March 25th. In the "best" case, the circulating coins well increase x112. A less successful hand out to a 10% of the population will increase it only x12. With a 1% it increases x2.
I expect a big drop in the value, approximately 112-fold, 12-fold or 2-fold according to how successful the hand out is. And that's the optimistic scenario, because now it has a very small market and it's easy to manipulate the price.