obsoleted

[Scitoshi]

Backed up by Oil and Gas Industry

It just isn't though, is it?

And when did the oil and gas industry ever give away anything?

You could be correct. That is why we have been trying to achieve a Win-Win situation with the Oil and Gas Industry.

[Infectiphibian]

How do you plan on distributing these coins around the world when most of the world has no idea what crypto currency even is, or ever heard of it? When I mention bitcoin to someone, most just nod there head, pretending to actually understand what I am talking about. I bet of the 45% reserved for world distribution, not even .01% gets delivered. Of the ridiculous 5% remaining, how much of that is for yourself? You seem to bury your piece of the pie in the amount reserved for bounties and giveaways.  

You have hit a very important point. This is something that we have been thinking seriously how to tackle this issue. There are always some ways to do so. Just a matter of whether we are brave enough to try.

The key thing I want to point out is that NAC Foundation has been inviting STALKHOLDER in the oil and gas industry to join us as members. The NAC Foundation is a registered organization in Las Vegas, USA. The NAC Foundation strives to become the first licensed Oil & Gas Production Operators to successfully drill or acquire an oil well where ALL Proceeds of the crude oil are used to fund Atencoin Projects. The NAC Foundation has teamed up with individuals that currently work in the Oil & Gas Production business.

We will soon have our own BGC oil wells in Texas, USA. Once our oil wells are in operation, we will announce it to public. Then AtenCoin will be the first cryptocurrency backed up by a real valuable asset, i.e. cruel oil.   With this news, people all over the world (hm ... at least in modernized cities) will know what AtenCoin is.

We pre-ANN our coins because we want to let people know that AtenCoin is coming, and just secure our coin names and symbol, AtenCoin, Black Gold Coin and BGC.  

What's cruel oil? Can we have nice oil instead? I'm not sure what a stalkholder is either.

[Scitoshi]

How do you plan on distributing these coins around the world when most of the world has no idea what crypto currency even is, or ever heard of it? When I mention bitcoin to someone, most just nod there head, pretending to actually understand what I am talking about. I bet of the 45% reserved for world distribution, not even .01% gets delivered. Of the ridiculous 5% remaining, how much of that is for yourself? You seem to bury your piece of the pie in the amount reserved for bounties and giveaways.  

You have hit a very important point. This is something that we have been thinking seriously how to tackle this issue. There are always some ways to do so. Just a matter of whether we are brave enough to try.

The key thing I want to point out is that NAC Foundation has been inviting STAKEHOLDER in the oil and gas industry to join us as members. The NAC Foundation is a registered organization in Las Vegas, USA. The NAC Foundation strives to become the first licensed Oil & Gas Production Operators to successfully drill or acquire an oil well where ALL Proceeds of the crude oil are used to fund Atencoin Projects. The NAC Foundation has teamed up with individuals that currently work in the Oil & Gas Production business.

We will soon have our own BGC oil wells in Texas, USA. Once our oil wells are in operation, we will announce it to public. Then AtenCoin will be the first cryptocurrency backed up by a real valuable asset, i.e. crude oil.   With this news, people all over the world (hm ... at least in modernized cities) will know what AtenCoin is.

We pre-ANN our coins because we want to let people know that AtenCoin is coming, and just secure our coin names and symbol, AtenCoin, Black Gold Coin and BGC.  

What's cruel oil? Can we have nice oil instead? I'm not sure what a stalkholder is either.

Oops... sorry for the stupid typos.. should be "crude oil" and "stakeholder"

Thanks for picking these up for me. I have corrected the typos in most of my posts.

[Scitoshi]

With all that oil industry backing you say you have, that shouldn't be a problem now, should it?

There is no free lunch in this "real" world.  Sometimes we can dream of a perfect world (virtual world may be able to achieve perfect), but in fact we are living in a real world made of flesh and blood. Hence, we need to create business models that achieve Win-Win situations. For these, we need to use our premined coins.

Says the man asking people for money...

If one considers himself or herself as one of the important contributors to the Cryptocurrency world, one should be constructive, and provide some constructive suggestions.

One should try hard to think of and take some real, feasible and practical actions to improve the current situations. A lot of coins here are stuck at trading/exchange level. This is how some people here get rich. Unfortunately, how many people here are willing to spend some of their earnings to improve the cryptocurrency, or to start a real business to change the current situation of cryptocurrency?

If any people have some good constructive suggestions for AtenCoin, please PM me. I would be very happy to provide some AtenCoin as rewards.

[mikestro]

i personally waiting for the release, and will mine with all my rig
if, its backed by oil,
that can potentially be really good coin.
Let's wait to judge new Coins
before the Coin was released
who know maby this coin will have big value and i got it.

you never know.

[Scitoshi]

LOL what a fail shitcoin... straight c&p gl.

A straight copy & paste??

AtenCoin is the first coin introducing 5% increment of block reward every year.

AtenCoin is the first coin aiming to distribute 45% coins (premined) in a global manner via giveaways and PoS within a very short period of time (about 2 weeks).

AtenCoin is the first coin of which the developers (NAC Foundation) are aiming to drill their crude oil wells, and use crude oil to back up the value of a cryptocurrency.

AtenCoin is the first coin of which Oil and Gas Stakeholders are involved in the foundation.

AtenCoin has its unique formula on block reward for public minting:
- 3100 - 16600th blocks: Starting from 5000 BGC per block, reduction of 1 coin per 3 blocks until 500 coins per block (~11.7 days)
- Starting from 16601: 500 BGC per block, increase of 0.0133589% per 1152 blocks (annual increase of 5%) to resist inflation and provide incentive for continuous minting up to year 2127 (i.e. 113 years).

[Scitoshi]

i personally waiting for the release, and will mine with all my rig
if, its backed by oil,
that can potentially be really good coin.
Let's wait to judge new Coins
before the Coin was released
who know maby this coin will have big value and i got it.

you never know.

Thanks for your support. I assure that your computation power will result in good return.

[NutshellCoin]

Backed up by crude oil?? How about petroleum?

Compared to Oilcoin, Dieselcoin and Oilgascoin, what are the differences?

[Scitoshi]

Backed up by crude oil?? How about petroleum?

Compared to Oilcoin, Dieselcoin and Oilgascoin, what are the differences?

The major differences are:
AtenCoin has a real business plan in the Oil and Gas Industry.
AtenCoin is introduced and supported by NAC Foundation, in which you can find stakeholders from the Oil and Gas Industry.

Here are my quick analyses, but pieces of available information about these coins are very limited:

OilCoin -
" I am talking about the people who are new to the cryptoworld. So where do those people invest/trade their coins? Of course they make their decisions by acting on instinct. For them the coin details (block, diff etc.) is just "nerd stuff" and they go along with the best name. You and I must admit, that oilcoin is a good name."
- a coin without a real plan on oil-related business
- seem like no stakeholders from oil and gas industry
- coin developers just picked a good name (as written in their launching post)
- https://bitcointalk.org/index.php?topic=399051.0

DieselCoin -
"Under the influence of the Oil conglomerate, “DieselCoin” was brought to the world, (“petrodollar” was judged as overexposing for the industry)."
- Seem like no real plan on diesel related business
- seem like no stakeholders from oil and gas industry
- seem it is already dead.
- website is dead.
- the developers deleted their launching post in BitcoinTalk
- https://bitcointalk.org/index.php?topic=425422.0
- but can still find some information in cryptocointalk, https://cryptocointalk.com/topic/3480-dieselcoin-dzl-information/

OilGasCoin -
"OILGASCOIN: THIS COIN IS THE FUTURE! COIN FOR WHICH IT WILL BE POSSIBLE TO BUY OIL AND GAS!"
- Not even a single statement to explain why they use the name of OilGasCoin
- No real plan on oil and gas related business
- seem like no stakeholders from oil and gas industry
- http://oilgascoin.do.am/index.html
- https://bitcointalk.org/index.php?topic=485765.0

[Scitoshi]

Backed up by crude oil?? How about petroleum?

Compared to Oilcoin, Dieselcoin and Oilgascoin, what are the differences?

What is the difference between Crude Oil and Petroleum?

Here I just extracted answers from U.S. Energy Information Adminstration:

Crude oil is a mixture of hydrocarbons that exists as a liquid in natural underground reservoirs and remains liquid when brought to the surface. Petroleum products are produced from the processing of crude oil at petroleum refineries and the extraction of liquid hydrocarbons at natural gas processing plants. Petroleum is the broad category that includes both crude oil and petroleum products. The terms "oil" and "petroleum" are sometimes used interchangeably.

Here is the link of the original information
http://www.eia.gov/tools/faqs/faq.cfm?id=40&t=6

[MsCollec]

Backed by sandoil

[NutshellCoin]

Backed up by crude oil?? How about petroleum?

Compared to Oilcoin, Dieselcoin and Oilgascoin, what are the differences?

The major differences are:
AtenCoin has a real business plan in the Oil and Gas Industry.
AtenCoin is introduced and supported by NAC Foundation, in which you can find stakeholders from the Oil and Gas Industry.

Here are my quick analyses, but pieces of available information about these coins are very limited:

OilCoin -
" I am talking about the people who are new to the cryptoworld. So where do those people invest/trade their coins? Of course they make their decisions by acting on instinct. For them the coin details (block, diff etc.) is just "nerd stuff" and they go along with the best name. You and I must admit, that oilcoin is a good name."
- a coin without a real plan on oil-related business
- seem like no stakeholders from oil and gas industry
- coin developers just picked a good name (as written in their launching post)
- https://bitcointalk.org/index.php?topic=399051.0

DieselCoin -
"Under the influence of the Oil conglomerate, “DieselCoin” was brought to the world, (“petrodollar” was judged as overexposing for the industry)."
- Seem like no real plan on diesel related business
- seem like no stakeholders from oil and gas industry
- seem it is already dead.
- website is dead.
- the developers deleted their launching post in BitcoinTalk
- https://bitcointalk.org/index.php?topic=425422.0
- but can still find some information in cryptocointalk, https://cryptocointalk.com/topic/3480-dieselcoin-dzl-information/

OilGasCoin -
"OILGASCOIN: THIS COIN IS THE FUTURE! COIN FOR WHICH IT WILL BE POSSIBLE TO BUY OIL AND GAS!"
- Not even a single statement to explain why they use the name of OilGasCoin
- No real plan on oil and gas related business
- seem like no stakeholders from oil and gas industry
- http://oilgascoin.do.am/index.html
- https://bitcointalk.org/index.php?topic=485765.0

ic & gl. hash rate of oilgascoin is extremely low today...hope your coin won't follow the fates of these coins.

[Aguis0313]

Backed by sandoil

what is sandoil?

[Scitoshi]

Backed by sandoil

We assure you that we are not drilling sand oil. Sand oil or Oil sand is mainly found in Canada, but not Texas and Kansas.

We plan to drill our "crude oil" wells in Texas and Kansas.

[Scitoshi]

Backed by sandoil

what is sandoil?

Here is an explanation extracted from Wikipedia (please click this link for details: http://en.wikipedia.org/wiki/Oil_sands)

Oil sands, tar sands or, more technically, bituminous sands, are a type of unconventional petroleum deposit.

The oil sands are loose sand or partially consolidated sandstone containing naturally occurring mixtures of sand, clay, and water, saturated with a dense and extremely viscous form of petroleum technically referred to as bitumen (or colloquially tar due to its similar appearance, odour and colour). Natural bitumen deposits are reported in many countries, but in particular are found in extremely large quantities in Canada. Other large reserves are located in Kazakhstan and Russia. The estimated worldwide deposits of oil are more than 2 trillion barrels (320 billion cubic metres); the estimates include deposits that have not yet been discovered. Proven reserves of bitumen contain approximately 100 billion barrels,[4] and total natural bitumen reserves are estimated at 249.67 billion barrels (39.694×109 m3) globally, of which 176.8 billion barrels (28.11×109 m3), or 70.8%, are in Canada.

Oil sands reserves have only recently been considered to be part of the world's oil reserves, as higher oil prices and new technology enable profitable extraction and processing. Oil produced from bitumen sands is often referred to as unconventional oil or crude bitumen, to distinguish it from liquid hydrocarbons produced from traditional oil wells.

The crude bitumen contained in the Canadian oil sands is described by Canadian authorities as "petroleum that exists in the semi-solid or solid phase in natural deposits. Bitumen is a thick, sticky form of hydrocarbon, so heavy and viscous (thick) that it will not flow unless heated or diluted with lighter hydrocarbons.....

[Aguis0313]

Backed by sandoil

We assure you that we are not drilling sand oil. Sand oil or Oil sand is mainly found in Canada, but not Texas and Kansas.

We plan to drill our "crude oil" wells in Texas and Kansas.

This one looks promising. I just hope we could see results in the near future.

[CoinKiddo]

Don't fall for scammers. Save you time, money and dreams.

We are a serious development and business team. Time will prove that we are not scammers.

Furthermore, people have their "free will" to join us or not.

If you just join the minting, you just use the computation power.  However, I do assure you that our Black Gold Fever will distribute the premined BGC to people (early miners) who have AtenCoins in their wallets (Proof-of-Stake). According to our estimation, most of the premined coins (45% of maximum amount, i.e. 90% of 1 trillion premined coins) will be distributed to hundred millions of people within 2 weeks.

Any update on the launching?

[Scitoshi]

Don't fall for scammers. Save you time, money and dreams.

We are a serious development and business team. Time will prove that we are not scammers.

Furthermore, people have their "free will" to join us or not.

If you just join the minting, you just use the computation power.  However, I do assure you that our Black Gold Fever will distribute the premined BGC to people (early miners) who have AtenCoins in their wallets (Proof-of-Stake). According to our estimation, most of the premined coins (45% of maximum amount, i.e. 90% of 1 trillion premined coins) will be distributed to hundred millions of people within 2 weeks.

Any update on the launching?

We are still working hard on AtenCoin's confidential features. At this moment, it is still hard for us to finalize the launching date.

However, we are going to announce some big news ... Please keep watching!

[passionsurf]

I don't think 2.1 trillion is enough coins. I think you should make it infinite instead.

[Scitoshi]

I don't think 2.1 trillion is enough coins. I think you should make it infinite instead.

I agreed with you. 2.1 trillion may still be not enough for global usage when AtenCoin becomes popular all over the world.

However, being a responsible coin maker, we should define a ceiling for our cryptocoin. Then people will be an idea of the rareness of individual coins.

Furthermore, because we plan (in fact implementing) to support AtenCoin with our own BGC crude oil supply, we cannot issue infinite amount of coins.