Iceland Resident Gives Away Free Virtual Currency

An entrepreneur from Iceland has offered to give residents free virtual currency in his generous effort to bolster the value of the Iceland's national krona currency. Entrepreneur, Baldur Friggjar Odinsson, has developed a litecoin-based cryptocurrency called Auroracoin which he is currently mining to give away to Iceland's 330,000 residents.

Iceland Resident Gives Away Free Virtual Currency Odinsson hopes that his idea with strengthen Iceland’s financial instability. Iceland experienced financial disaster in 2008 causing a crippled economy, inflation, and national debt that continues to skyrocket. The breakdown was caused by an élite group of leaders in an “unholy alliance” between government and big banks that locked people into a flawed financial system. The Ponzi-type scheme that the Icelanders got roped into was mostly caused by the government and banks issuing more kronas than the small nati...

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