Observations from Auroracoin’s launch

Auroracoin’s airdrop to all Icelanders began Monday night/Tuesday morning, and there’s already enough data to start drawing conclusions and maybe speculating a little.

First, to catch everyone up: Auroracoin is a cryptocurrency designed specifically for Icelanders, who have seen their fiat currency plummet in value over a couple of generations now. It’s based on Litecoin, and at midnight on March 25 (local time), a premined stash became available to all residents of Iceland.

The haul works out to about 31.8 AUC for each of Iceland’s roughly 330,000 citizens, and claiming your share is available through the coin’s website.

 

Pre-Airdrop

Questions have surrounded Auroracoin’s airdrop for months. Would Icelanders claim their coins? If they did, would they sell them for fiat immediately?

Forbes reported on the airdrop just hours before it began, and at the time of their reporting, Auroracoin had the fourth highest market cap among all cryptocurrencies, and 1 AUC was trading for about 0.02 BTC or $11.60.

That meant each Icelander stood to gain just short of $369 in the airdrop.