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Legendary Offline
Activity: 1298
Yes, it is progress.
But shouldn’t the sticker in the window be in Icelandic first, with English as a second language?
After all, AUR is meant to be Iceland’s national cryptocurrency!
The tourism industry is increasing a LOT in Iceland. It is also a great way to get most of the AUR moved back to Iceland. For tourists it should become more cheaper to buy AUR than ISK (in respect to transaction fees) and easier to carry. And then most Icelandic people speak English good enough to understand it.
Jr. Member Online
Activity: 44
Even though Iceland supposedly removes capital controls on the krona, they are buying up international krona to try to keep it stable at a set rate. I think the market should truly decide price which makes auroracoin a good alternative. When the next recession hits people will predictively flee to other alternatives and auroracoin will be there.
Here is a quote from article,
“The government also announced on Sunday that the central bank bought about 90 billion kronur ($834 million) at 137.5 krona per euro from remaining offshore holders of the currency to “safeguard the economy against monetary, exchange rate, and financial instability.” There now remains about 100 billion kronur in such holdings. The krona traded at 114.95 per euro as of Friday.
Restrictions will still be in place for some of the funds that won’t sell the central bank their offshore kronur at 137.5 per euro. They have another two weeks to complete the transactions, the central bank said.”
Jr. Member Online
Activity: 44
Even though Iceland supposedly removes capital controls on the krona, they are buying up international krona to try to keep it stable at a set rate. I think the market should truly decide price which makes auroracoin a good alternative. When the next recession hits people will predictively flee to other alternatives and auroracoin will be there.
Here is a quote from article,
“The government also announced on Sunday that the central bank bought about 90 billion kronur ($834 million) at 137.5 krona per euro from remaining offshore holders of the currency to “safeguard the economy against monetary, exchange rate, and financial instability.” There now remains about 100 billion kronur in such holdings. The krona traded at 114.95 per euro as of Friday.
Restrictions will still be in place for some of the funds that won’t sell the central bank their offshore kronur at 137.5 per euro. They have another two weeks to complete the transactions, the central bank said.”
What is interesting about this is that the market is 115 krona per euro, but the central bank wants 137.5 krona for every euro. Does anyone know why anybody would sell to the central bank at a 20% loss compared to market. And also how could the central bank pay in euros if the currency controls aren’t lifted till Tuesday.
Legendary Offline
Activity: 1298
ISK is also very volatile. You could easily loose more than 20% if not selling now. When bought in 2008 post-crash you could have a nice profit now… even with 20% loss.
Jr. Member Online
Activity: 44
ISK is also very volatile. You could easily loose more than 20% if not selling now. When bought in 2008 post-crash you could have a nice profit now… even with 20% loss.
ISK is loosing 4% against all currencies as we speak….
Interesting. I guess the Tuesday news is affecting the price. 119 krona is equal to 1 euro now.
What is interesting about this is that the market is 115 krona per euro, but the central bank wants 137.5 krona for every euro. Does anyone know why anybody would sell to the central bank at a 20% loss compared to market. And also how could the central bank pay in euros if the currency controls aren’t lifted till Tuesday.
When you want to fill a large order that exceeds the liquidity of the market at current prices, you’ll have to pay a higher price to find enough sellers. That’s probably what was the case here, no?
This is ironic. Last year the Central Bank gave the hedge funds that hold ISK a one time offer to sell their ISK for I think 190 ISK/EUR or else they will be locked in the ISK forever…
Now 9 months later they are trying to settle this by offering them 137 ISK/EUR or about 30% higher price… but the real rate for other owners of ISK is about 115 ISK/EUR the 20% mentioned in the article. This shows how much amateurs the Finance minister of Iceland and the Icelandic Central bank are.
Imagine that you can bully your Central bank like this…
“Lost coins only make everyone else’s coins worth slightly more. Think of it as a donation to everyone”. Satoshi Nakamoto
Jr. Member Online
Activity: 44
I checked the 3 day volume chart on and the volume for last 3 days was even slightly more now than before the big election in October. Again they aren’t big numbers but it looks promising that people are utilizing the exchange and buying more auroracoin. I think people expected the pirate party expected to do better but pirate party or no pirate party I like the prospects of AUR.
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