Auroracoin Continues Retreat, Falls Back Behind Litecoin

The Auroracoin (AUR) balloon continues to deflate today, losing another 40% at the time of this writing in experiencing extremely

The Auroracoin (AUR) balloon continues to deflate today, losing another 40% at the time of this writing in experiencing extremely sharp movement from one minute to the next.

It now has a market cap of $312 million, sending it way behind Litecoin’s $441 million. Litecoin, along with most major altcoins and Bitcoin, are relatively unchanged today. Combining yesterday’s losses, today’s in AUR brings the total over the past roughly 48 hours to 70%, as holders of the currency race to take profits ahead of “Airdrop” day.

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One AUR is now worth about $30.

Auroracoin, March 7

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One user of Auroracoin’s reddit, who says he’s from Iceland, is bewildered at the previous hype surrounding the new cryptocurrency. He says that even the Bitcoin community is very small. Most businesses have never heard of BTC and don’t accept it, despite his encouragement to do so.

He and other users explain that they have no visibility into who this Baldur Friggjar Oðinsson really is and that he’s not “showing his face”. In contrast, today’s pioneers and backers of other major cryptocurrencies are generally identifiable (the notable exception being Satoshi himself, but one can argue that we were in a different era back then).

Others are calling for people to stick to Bitcoin, Litecoin and Dogecoin, saying that Auroracoin  is “damaging to the crypto community”.

Others still are defending it as an experiment in regional coins, in what happens when everyone starts off with a small amount and in what it would have been like back in 2008 had “governments bailed out people instead of banks”.

DC Magnates had attempted to connect with Auroracoin’s creator but is still unsuccessful.

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