As Auroracoin “Airdrop” Approaches, What Does It Mean When A Nation Adopts A Cryptocurrency?

TechCrunch

Iceland has its own Satoshi. A programmer called Baldur Friggjar Odinsson has created an alternative to bitcoin that he is calling AuroraCoin and in twenty-three days he will “airdrop” 31.8 coins to every citizen of Iceland – all 330,000 of them.

It is, in short, a pretty ballsy move.

Aurouracoin (AUR) will work just like bitcoin and it’s already surprisingly popular. It’s worth $15 per coin and at launch 21 million AUR will be made available to all of Iceland’s citizens. They will use their private ID numbers to check in and receive their coins. Mining is performed through proof-of-work operations, just like bitcoin.

To be clear there is no telling how popular Odinsson’s idea will be and who or when the citizens of Iceland will start using their currency. In his manifesto, he blames the Icelandic government for “bleeding” the country.

“The people of Iceland are being sacrificed at…

View original post 585 more words

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s