Observations from Auroracoin’s launch

Auroracoin’sairdrop to all Icelanders began Monday night/Tuesday morning, and there’salready enough data to start drawing conclusions and maybe speculating alittle.

First, to catch everyone up: Auroracoin is a cryptocurrencydesigned specifically for Icelanders, who have seen their fiat currency plummetin value over a couple of generations now. It’s based on Litecoin, and atmidnight on March 25 (local time), a premined stash became available to allresidents of Iceland.

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



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

Forbes reported on the airdrop just hours before itbegan, and at the time of their reporting, Auroracoin had the fourth highestmarket cap among all cryptocurrencies, and 1 AUC was trading for about 0.02 BTCor $11.60.

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