[ANN] Bitcoin Oil [BTCO] - 18.59M Supply | SHA-256 | No Premine | Soon

[fairmuffin]

We are on the brink of a revolutionary new cryptocurrency—one that’s inspired by a pivotal moment in world history.

On August 27, 1859, in Titusville, Pennsylvania, a man named Colonel Edwin L. Drake, working for the Seneca Oil Company, successfully drilled the first commercial oil well. That moment ignited the modern oil industry and changed the course of history forever.

As of Today, September 27, 2024, it has been exactly 165 years and 1 month since that groundbreaking discovery.

A Supply Linked to History

To honor this monumental event, Bitcoin Oil will have a total supply of 18.59 million coins—a direct reference to the year 1859, when the world’s first oil well began production. Just as oil reshaped the world, Bitcoin Oil aims to reshape the future of digital currencies, linking the value of this new currency to one of the most powerful forces in global economics: oil.

Fair Launch with No Premine

In keeping with the ideals of transparency and fairness, there will be no premine.
Anyone will be able to participate from the very first block. There are no special advantages or reserved coins for insiders. Bitcoin Oil is a project for the people, where everyone has an equal chance to mine and earn their stake.

SHA-256 Security - The Bitcoin Standard

Bitcoin Oil is built upon the legendary SHA-256 algorithm, the same secure and proven algorithm that powers Bitcoin itself. This ensures that our network will be highly secure, decentralized, and reliable. Bitcoin Oil adheres to the principles of decentralized security that have made Bitcoin the most trusted cryptocurrency in the world.

Block Rewards and Halvings

At launch, each block mined will reward miners with 50 BTCO. Halvings will occur every 185,900 blocks.
With a target block time of 5 minutes, this means that halvings will take place approximately every 1 year and 9 months, ensuring a steady and predictable emission of new coins, just like Bitcoin.

Join the Movement - October 19th, 2024

We invite you to become a part of this historic launch on October 19th, 2024. More details and instructions will be provided in the coming days, but make no mistake—Bitcoin Oil is not just another cryptocurrency. It’s a tribute to a moment in history that changed the world, and a digital transformation that will help fuel the future.


Stay Tuned
More updates and instructions will follow soon.

[uchegod-21]

If I have the opportunity to re-create something that looks like bitcoin, I'll try to address the issues raised by bitcoin such as;
Energy consumption;
Scalability;
PoW;
etc.
But this doesn't address any, but just want to replicate bitcoin and oil well. Although it is not related to bitcoin.
Let's believe this will be a nice project.

[Odusko]

No project link or social handles to see how far your team have gone with the development of the coin, and more also why chosing name that affiliate Bitcoin into your project, because to me that is a bad approach and an attempt to gain public attention using Bitcoin popularity and most of the projects that use such Bitcoin related names have turn out to be shitcoins.

So for that you start up will really need a lot of corrections if truly you have anything valuable to add to the cryptocurrency ecosystem at this point.

All the same good luck and let see what you can come up with on the long term, and I will keep an eye on this threads to see how you work on improving everything around here.

[fairmuffin]

Bitcoin Oil was just launched! No premine and currently at block height 2. Faster transactions than Bitcoin, and less supply.

If you'd like to start mining, you can find the Source code: https://github.com/escapeneo/bitcoinoil
Launch thread: https://bitcointalk.org/index.php?topic=5513786.msg64651414#msg64651414

[solarsurfer]

Proposal: adding AuxPoW (merge mining) to Bitcoin Oil (BTCO), comments welcome

Hi all,

Following my post about the public node, I'd like to put forward a proposal to keep BTCO alive for the long term, and I'd like to hear from holders, exchanges and anyone from the original team before anything happens.

Where BTCO is now

• The original seed nodes (node.petrobtc.org / node2.petrobtc.org) no longer exist.
• The main pool mining BTCO (around two thirds of recent blocks) has dropped it, and the chain stalled for over 12 hours.
• The GitHub hasn't changed in about 2 years, and a message I left there got no reply.
• There is now an always-on public node at stratum.shears.co.uk:19712 to hold the network together.

The proposal
Add AuxPoW, the same merge mining used by Namecoin, Dogecoin and others. SHA-256 miners could then mine BTCO alongside Bitcoin at no extra cost, so BTCO is no longer at the mercy of one pool coming and going.

• Nothing else changes: same chain, same balances, same supply and reward, same per-block difficulty adjustment. No premine, no dev fee, no new coins.
• Normal mining stays valid, so existing miners and pools can carry on as now.
• Open code: the changes will be published on GitHub for anyone to review before release.
• Tested first: a public test network will run for 30 days before any release.
• Plenty of notice: AuxPoW would only switch on at a set block height, roughly 6-8 weeks after release (around block 160,000; the exact height will be announced with the release). Until then the new version behaves exactly like today's, so nobody is split off early.

Exchanges (Mintrax, Froge.biz and any others): you would need to upgrade your BTCO node before the switch-over block. Please get in touch here or by PM so we can make sure you're ready.

Original team: if you're still around, I'd much rather do this with you than without you. Please reply or PM me.

If there are objections or better ideas, please post them. Nothing will be released without giving everyone a chance to comment.

Thanks,
Andy
sha256-mining.shears.co.uk

[coin-investor]

We are on the brink of a revolutionary new cryptocurrency—one that’s inspired by a pivotal moment in world history.

I've read these words a thousand times before, trying to capture the community's attention by using the word "Bitcoin" in its name. If this project had been launched a year ago, when so many similar projects and Bitcoin forks were launched, it could have attracted a lot of attention.

Anyway, good luck with your project. It would have been better if this had a use case. This is an era of use cases, where you have to present something new. If you only have a token, it would die a natural death.

[solarsurfer]

Thanks.

To be clear, I'm not launching anything. BTCO is an existing coin whose main pool and seed nodes vanished. I'm just keeping the chain running for current holders.

No new token, no premine, no sale. The AuxPoW proposal is only about keeping it secure.

Thanks for your input.

Regards