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Author Topic: [ANN]Aten Black Gold Coin-Aten Coin-1st AML Cryptocurrency-Launched on 21/9/2015  (Read 19473 times)
Scitoshi
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May 30, 2014, 02:54:33 AM
Last edit: November 06, 2015, 09:40:10 AM by Scitoshi
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Aten Black Gold Coin (short form: Aten Coin or Black Gold Coin) is a cryptocurrency introduced by The National Aten Coin (NAC) Foundation. It is named after the hypothetical precious metal Aten, which reflects visions of the Aten Coin development team on the Next Generation Cryptocurrency. Aten has a black shiny appearance. Its value is at least 1000 times that of gold. That's why Aten Coin is also called 'Black Gold' coin (ATENC).
Furthermore, Aten Coin is also a secure and fast P2P cryptocurrency transaction network for daily convenient use of ATENC in buying things in real life.

Last but not least, while maintaining privacy of customers, the NAC utilizes proprietary techniques to verify ownership of coin holders, secure and monitor transactions, trace and track identities of senders and receivers, keep recordkeeping efforts transparent, protect coins from theft. The Aten “Black Gold” Coin is compliant with the: Anti-Money Laundering (AML), Counter Financing of Terrorism (CFT), Anti-Fraud and Financial Crimes (AFF), Office of Foreign Assets Control (OFAC), Bank Secrecy Act (BSA), USA PATRIOT Act and the FACT Act. NAC has copyrights of the privately regulated public blockchain technology and the personal identity-linked credential authentication protocol to Aten Coin; the rights were confirmed with filing source code for atencoin with US Copyright Office on July 6th, 2015. Under United States copyright law, NAC Foundation’s copyrights have been in effect since the date that NAC Foundation copyrighted source code was created. Moreover, NAC Foundation, Inc. has filed for the patent with European Patent Office in February 2015.


Official Websites
Aten Coin: www.AtenCoin.com
AtenPay: www.AtenPay.com
AtenWallet: www.AtenWallet.com

Key Members of the NAC Foundation
Marcus Andrade, known as Monex, an Oil & Gas Financer. He is also an experienced Oil and Gas Production Operator  - CEO of the NAC Foundation
Scitoshi - Honorary board member

Aten Coin Youtube Channel
https://www.youtube.com/channel/UCCSljkqXbXkIgijb___MzRQ/videos

Aten Coin Facebook
https://www.facebook.com/Atencoin/timeline/

Aten Coin Twitter
https://twitter.com/BlackGoldCoin

Aten Coin Unit:
atencoin (plural atencoins)

Aten Coin Abbreviation:
ATENC (ATEN BLACK GOLD COIN)

Aten Coin Symbol:


Information About the Hypothetical Precious Metal ATEN:
http://atencoin.com/aten.html

Missions of Aten Coin Project
1. A Cryptocurrency Supported Up by Oil and Gas Industry
© 2014-2015.  NAC Foundation, LLC All Rights Reserved. The National Aten Coin Foundation has developed the Aten “Black Gold” Coin. Black Gold Coin International, Inc. is a promotions and marketing company. Black Gold Coin International is responsible for helping to promote Aten Coin’s. Black Gold Coin International has invested and will continue to invest in oil and gas companies as long as an Aten Coin Proceeds Agreement is signed. Aten Coin Holders do not participate in these oil and gas profits. Aten Coin has no underlying collateral. Contractively, Black Gold Coin International’s Funding Agreements with their oil and gas partners provide for the oil and gas companies to fund Black Gold Coin International’s monthly profits in atencoins.

2. A Cryptocurrency for Daily Use
We plan to establish connections with various dealers, suppliers and shops. In the near future, people can use our atencoin to buy things in real life, including online games, meat and petroleum.
Black Gold Coin International partners with SWC Group in Warsaw, Poland to create an Aten Coin processing platform. AtenPay provides a user-friendly one-stop solution for people to acquire Aten Coins and for commercial companies to receive payment in Aten Coins. For more information, please visit: ww.AtenPay.com.

3. An Inflation Resistant Cryptocurrency
Our unique cryptofinancial model provides a novel solution to fight against inflation.
Black Gold Coin International, Inc. is an Aten Coin Promotion Company. NAC and Black Gold Coin International are two separate entities. Proceeds from the promotion company Black Gold Coin International will not be shared with Aten Coin Holders. Aten Coin does not have any underlying collateral. One important promotion campaign of Black Gold Coin International is collaborating with stakeholders in Oil and Gas Industry on Oil and Gas production. Black Gold Coin International has invested and will continue to invest in oil and gas projects as long as an Aten Coin Proceeds Agreement is signed. Aten Coin Holders do not participate in these oil and gas project profits. Aten Coin's Funding Agreements with their oil and gas partners provide for the oil and gas companies to share profits with Black Gold Coin International in Aten Coin. The amounts paid in Aten Coin to Black Gold Coin International will be obtained by the oil and gas partners from the exchanges. These ongoing coin purchases should enhance the market, since the goal of Black Gold Coin International is to always have a buyer in the market place. Except for paying U.S. income taxes due from these oil and gas proceeds, Black Gold Coin International plans to hold these coins in the company treasury. [Disclaimer] NAC, Black Gold Coin International and their current and future associated companies do not have any obligation to purchase Aten Coin from the Aten Coin Holders. NAC, Black Gold Coin International and their current and future associated companies should not be relied upon to be a source of liquidity for Aten Coin Holders and Aten Coin Holders’ atencoins.

4. An Anti-Money Laundering Cryptocurrency
New features being implemented to make Aten Coin be a Anti-Money Laundering (AML) Cryptocurrency. For details, you can read this BitcoinTalk thread
https://bitcointalk.org/index.php?topic=1207514.0

Where and How to obtain Aten Coin
People can purchase Aten Coin by going to AtenPay.com now.

Specifications
Total supply: 26 million ATENC

Encryption algorithm:   X11
Max. coin supply:     26,000,000 ATENC
Block generation time:   64 sec (average)
PoW:                   Block 1 (super block), 24,000,000 ATENC [already generated by NAC foundation]
Block reward:   2 and 5000 (the last PoW block); 0.01 ATENC per block [already generated by NAC foundation]
PoS:                  BlackCoin PoS 2.0, Starting from block 5001 (the first 100% PoS block); 0.3% compound annual interest [minimum stake age: 8 hours]
Transaction fee:   0.1 mATENC (0.0001 ATENC) per thousand bytes
Number of transaction confirmation   :       6
Number of mined block confirmation:     240
Source code:   available 6 months after ANXPro starts AtenCoin Exchange
Unique features:   A proprietary Identity-linked Credential Authentication Protocol for KYC/AML compliance, anti-terrorist financing and theft resistance. For details, you can read this BitcoinTalk thread
https://bitcointalk.org/index.php?topic=1207514.0


Contacts
Media inquires:
NAC
Marcus Andrade, 1-702-515-4038
Founder
press@atencoin.com
or
ANX
Jess Chan, 1-852-2892-2689
Marketing Manager
marketing@anxintl.com
or
SWC Group
Agnieszka Cenzartowicz, 0048 607041276
Senior Partner
acenzartowicz@swclaw.pl
or
AtenPay SA
Agnieszka Bilinska, 0048 601441340
Supervisory Board Member
abilinska@atenpay.com


Press Release on 15 Oct 2015
NAC Foundation Announces Proprietary Core Technology of Aten "Black Gold" Coin
Privately Regulated Public Blockchain Achieves Anti-Money Laundering, Anti-Terrorist Financing and Anti-Theft Goals

Privately Regulated Public Blockchain Technology of Aten Coin: The 4th Type of Blockchain
The blockchain of Bitcoin is considered to be a "public blockchain". Anyone in the world can read, modify and verify it. No one can own and control the blockchain. Anyone can freely create bitcoin addresses and freely use their addresses to receive and send bitcoins. Recently there have been a lot of discussions about how to modify and make use of the Bitcoin's blockchain technology. For example, The Bank of England has said that central banks are looking at ways to implement "hybrid systems" involving distributed ledger technology of the type currently used to record bitcoin transactions. Besides "public blockchain", the concepts of "private blockchain" and "consortium blockchain" have appeared. In such concepts, the blockchains will be solely controlled by either a private entity or a group of private entities. However, such concepts totally opposite the concept of decentralized banking. To tackle with the issues of criminal uses and terrorist financing, NAC has invented a method (EU patent pending and U.S. copyright protected) that allows people to trace and track identities senders and receivers of a cryptocurrency when necessary. This invention involves a "privately-regulated public blockchain", which is a novel concept and can be considered as the 4th type of the blockchain technology. Anyone in the world can read the Aten Coin blockchain and participate in transaction verification and Aten Coin mining. Aten Coin is only regulated when it comes to KYC/AML compliance and anti-terrorist compliance. The major advantage of NAC's novel blockchain technology is that the key decentralized banking concept of Bitcoin is being maintained, while Aten Coin can overcome the major shortcomings of the Bitcoin protocol.

Aten Coin's Identity-Linked, Credential Authentication Protocol
One the basis of a privately-regulated public blockchain, NAC has built a personal identity-linked credential authentication protocol into the source code of Aten Coin. The protocol involves an integration of three major processes, including personal identity verification, credential authentication and a two-party signature scheme. A regulation system is introduced at the blockchain level in the way that (i) all Aten Coin addresses must be multisignature addresses comprising of a pair of public key and private key from NAC and at least one pair of public key and private key from an Aten Coin user, and (ii) all Aten Coin addresses can only be created by people whom have got an authorization from NAC. Furthermore, (iii) without NAC's authorization, no one can use any Aten Coin addresses to send any atencoins that are recorded (stored) at the Aten Coin addresses. In order to obtain authorization from NAC, all Aten Coin Users must register as an Aten Coin User in the NAC's systems, and in the process of registration all potential Aten Coin Users must provide valid document to disclose their legal identities.

For details, you could visiting the following press release from NAC
http://www.prnewswire.com/news-releases/nac-foundation-announces-proprietary-core-technology-of-aten-black-gold-coin-300160276.html.


Press Release on 21 Sept 2015
AtenPay, SA and ANX Pro Jointly Launch The Aten Coin Exchange

Individual and merchant accounts are now available for NAC Foundation's Aten "Black Gold" Coin, the 1st KYC/AML Compliant Cryptocurrency. The 100% compliant cyber currency is quickly revolutionizing the digital exchange market. Individuals wishing to purchase and sell coins simply need to visit AtenPay.com select "Individual User" and then register for a free account. Individual accounts are available from AtenPay through collaboration with the most distinguished online trading platform in the world, ANXPro.com. Merchants wishing to start accepting Aten Coins begin the free account sign up process at AtenPay.com by clicking on the "Merchant Account" tab.

National Aten Coin Foundation (NAC) is a service member of the American Bank Association (ABA) and compliant with the following agencies: Anti-Money Laundering (AML), Counter Financing of Terrorism (CFT), Anti-Fraud and Financial Crimes (AFF), Office of Foreign Assets Control (OFAC), Bank Secrecy Act (BSA), USA PATRIOT Act and the FACT Act.

NAC Foundation's clients will have exclusive access to ANXPRO's simple and user friendly UI, consolidated shared order book for blended multi-currency settlement, real time FX pricing, deposit options, and risk management and trading tools. The Aten "Black Gold" Coin will be available in all fiat currencies, including USD, EUR, HKD, AUD, CAD, JPY, SGD, GBP, NZD and CHF.

For details, you could visiting the following press release from NAC
http://www.prnewswire.com/news-releases/atenpay-sa-and-anx-pro-jointly-launch-the-aten-coin-exchange-300146076.html
You could also visit www.atenpay.com.


Press Release on 3 July 2015
Pioneering Aten ”Black Gold” Coin to Offer New Patented Digital Wallets

Towards the middle of August 2015, the National Aten Coin’s groundbreaking new cryptocurrency, the Aten “Black Gold” Coin and its patented pending digital wallets will be available. Collaboration agreements with governmental entities in the European Union has resulted in NAC adding in additional features to the Aten “Black Gold” Coin to fulfill their requirements. All newly required features, as well as beta testing will be completed prior to the new launch date.

The Aten “Black Gold" Coin can be purchased through collaboration between AtenPay, SA and ANXPro, one of the globe’s most revered online trading platforms. The Aten “Black Gold” Coin will be available in all fiat currencies including, USD, EUR, GBP, etc. NAC clients will have exclusive access to ANXPRO’s simple and user friendly UI, consolidated shared order book for blended multi-currency settlement, real time FX pricing, deposit options, and risk management and trading tools.

NAC’s new digital wallets are patented (pending) in the EU and copyright (pending) in US. The digital wallet will make the transfer and storing of the Aten “Black Gold” Coin even more secure and convenient for clients, who can access their accounts on a desktop computer and very soon via smartphones and tablets. NAC will be able to quickly verify the wallet and its user through a pseudonymous system. All transactions are monitored through an extremely stringent authentication protocol.

For details, you could visiting the following Reuters article
http://www.reuters.com/article/2015/07/03/nv-national-aten-coin-idUSnBw035323a+100+BSW20150703


Press Release on 23 March 2015
National Aten Coin Foundation Accepted Into ABA - Prestigious Membership Further Aligns Aten “Black Gold” Coin with Top Regulatory Agencies

National Aten Coin (NAC), creator of the Aten “Black Gold” Coin, a revolutionary new form of electronic currency, was recently accepted into the American Bankers Association (ABA). The ABA, which is the hub for the $15 trillion United States banking industry, welcomed NAC into its organization as a Platinum Service Member. This means NAC will join a prestigious group of small, regional and large banks, for which the ABA currently helps safeguard $11 trillion in deposits and more than $8 trillion in loans.

After the ABA’s acceptance and recent agreement with ANXPRO Exchange, NAC’s Founder, Marcus Andrade, believes his company is well prepared to be the new industry leader for cryptocurrency. He said the NAC system is absolutely unique to any digital currency currently on the market.

“While upholding the complete privacy of our customers,” said Andrade, “we are able to verify ownership of coin holders, secure and monitor transactions, trace and track identities of senders and receivers, keep recordkeeping efforts transparent, protect coins from theft, maintain liquidity and stabilize value.”

In the past, many have assumed that banks were against digital currencies, but NAC is helping to eradicate that perspective through its commitment to regulatory practices. In fact, NAC’s Aten “Black Gold” Coin is 100% compliant with the following: Anti-Money Laundering (AML), Counter Financing of Terrorism (CFT), Anti-Fraud and Financial Crimes (AFF), regulations of Office of Foreign Assets Control (OFAC), Bank Secrecy Act (BSA), USA PATRIOT Act and the FACT Act.

For details, you could visiting the following Yahoo Finance article
http://finance.yahoo.com/news/national-aten-coin-foundation-accepted-130000099.html


Press Release on 27 Jan 2015
ANXPRO Exchange To Include Aten “Black Gold” Coin In 2015

For National Aten Coin’s (NAC) Aten “Black Gold” Coin, 2015 is already a spectacular year. The company’s revolutionary new coin will soon become available through ANXPRO, a globally recognized platform that enables the purchase and sale of cryptocurrencies in all major fiat currencies (USD, EUR, HKD, AUD, CAD, JPY, SGD, GBP, NZD and CHF). NAC’s clients will have immediate access to ANXPRO’s simple and user friendly UI, consolidated shared order book for blended multi-currency settlement, real time FX pricing, deposit options, and risk management and trading tools.

Founder of NAC, Marcus Andrade knows that his company’s strong commitment to the development of a proprietary Anti-Money Laundering (AML) control system is the reason for its recent success. The Aten “Black Gold” Coin is 100% compliant with all regulatory agencies.

“We have taken a huge leap forward in the digital currency arena with the Aten “Black Gold” Coin,” said Andrade. “Our incredibly accurate cryptography techniques secure communications, track customer identities and keep recordkeeping efforts transparent. We are extremely pleased that the Coin’s unique value is being recognized by ANXPRO,” he said.

Ken Lo, CEO and Co-founder of ANX, has extensive international experience in regional compliance, risk, governance, and regulations. His company is one of the world's best crypto-currency trading platforms. ANXPRO.COM offers a 24-hour online exchange and automated matching orders between registered members.

According to Lo, the ANXPRO platform was designed for optimum security. The company monitors physical intrusion, exhaustively background checks its staff members, uses cold storage of coins and manual processing of all withdrawal requests. ANXPRO carefully assesses security threats, like social engineering, phishing, and remote zero day exploits.

For details, you could visiting the following Yahoo Finance article:
http://finance.yahoo.com/news/anxpro-exchange-aten-black-gold-023500420.html


Press Release on 25 Nov 2014
AtenCoin Market Opens with Success of Taylor 1 Oil & Gas Well

The NAC is pleased to announce that the Taylor 1 Oil & Gas Well has hit. Drilling of the Taylor 1 commenced in mid-September, 2014 and has quickly proven to be the booming asset sought in support of the Aten Coin Market. "According to Tahoe Oil and Gas, we are expecting to have about 5 Pay Zones," Says Marcus Andrade, NAC's Founder. "We are excited because the Market for AtenCoin has finally started."

NAC announces the termination of Johnson 1 Oil & Gas Well drilling since the Well's recent miss. Drilling of the Johnson 1 began in early August, 2014. Tahoe announces that after extensive study and thought, it has been determined that any further pursuit to find commercial hydrocarbons in the Johnson 1 be canceled as it would only incur greater loss.

Determined to help grow the Aten Coin market, Black Gold Coin International, Inc. will be taking part in the drilling of the Eureka Prospect, which is scheduled to commence in December 2014 in Iberville Parish, Louisiana.

http://www.einpresswire.com/article/236524002/digital-cryptocurrency-atencoin-releases-official-update-in-tahoe-oil-gas-investment


Press Release on 4 Sept 2014
An update from the managing venture partner, Tahoe Oil and Gas of Houston, Texas, on the drilling of their Johnson 1 well in the South Sugar Valley Prospect in Matagorda County, Texas.

“The work on the Johnson 1 well has begun and its completion is expected next month,” said Tahoe’s Managing Director Jerrell Clay. “The drilling of the second well, Taylor 1, will occur immediately following the logging of the Johnson 1 well."

http://www.reuters.com/article/2014/09/04/tx-national-aten-coin-idUSnBw046362a+100+BSW20140904


Press Release on 29 May 2014
Announcement of NAC Foundtion's participation in an oil and natural gas multi-well project that begins drilling in Southern Louisiana on August 15, 2014.
This transaction is unique as the joint venture’s managing venture partner, Tahoe Oil and Gas of Houston, plans to distribute proceeds from this oil and gas project in the Aten Black Gold Coin virtual currency, as well as U.S. Dollars.


Tahoe Managing Director: Jerrell Clay

http://www.businesswire.com/news/home/20140529005293/en/National-Aten-Coin-Acquires-Participation-Oil-Gas#.VbHHn_mqqko

Aten, Ancient Egyptian Sun God, emits Rays reaching Human Hands.
Under illumination of Aten Coin, there will be no more Darkness in Cryptocurrency!
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May 30, 2014, 03:03:39 AM
 #2

sounds good,do you need chinese transaltion?I would like do that Smiley

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May 30, 2014, 03:30:10 AM
Last edit: October 13, 2015, 09:26:45 AM by Scitoshi
 #3

[ATENC] Aten Black Gold Coin | Participation in Oil and Gas Property | Press Release | 29 May 2014

https://bitcointalk.org/index.php?topic=631443.msg7027380#msg7027380

http://finance.yahoo.com/news/national-aten-coin-acquires-participation-123800480.html

HOUSTON--(BUSINESS WIRE)--

National Aten Coin (creator of the Aten Black Gold Coin digital virtual currency) announced today its participation in an oil and natural gas multi-well project that begins drilling in Southern Louisiana on August 15, 2014.

This transaction is unique as the joint venture’s managing venture partner, Tahoe Oil and Gas of Houston, plans to distribute proceeds from this oil and gas project in the Aten Black Gold Coin virtual currency, as well as U.S. Dollars. For those that are unfamiliar with virtual currencies, Aten Black Gold Coin is a recent entry into the explosive market of electronic money. The current largest distributor of cryptocurrency is Bitcoin, which was introduced to the market in 2009.

Tahoe Oil and Gas understands the need to adjust to 21st century technology.

“We know that virtual currencies are somewhat new and that when technology changes for the better, you must embrace and change,” said Tahoe Managing Director Jerrell Clay. “The same holds true for updating equipment and knowhow in the oil field.”

NATIONAL ATEN COIN has entered investment discussions with other oil and gas production companies that operate in Texas, Louisiana, Kansas and Oklahoma.

“We believe it is the right time to focus on the strong U.S. energy markets and NATIONAL ATEN COIN anticipates continued investments in oil and gas prospects for many years to come,” Aten Coin’s Managing Member, Richard Gray said.

About NATIONAL ATEN COIN

NATIONAL ATEN COIN is the creator of the Aten Black Gold Coin, which is a form of money (virtual and electronic) that uses cryptography (techniques used to secure communications) to control and manage its currency. Aten Coin utilizes a peer-to-peer electronic cash system to generate electronic transactions without relying on trust. NATIONAL ATEN COIN is located in Houston, Texas, U.S.A. For more information visit: http://AtenCoin.com.


Contact:
National Aten Coin Press Office
702-515-4038
press@atencoin.com

Aten, Ancient Egyptian Sun God, emits Rays reaching Human Hands.
Under illumination of Aten Coin, there will be no more Darkness in Cryptocurrency!
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May 30, 2014, 03:38:11 AM
 #4

the project i've seen before about 2month ago .

did you copy from it?
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May 30, 2014, 03:40:31 AM
Last edit: October 13, 2015, 09:32:27 AM by Scitoshi
 #5

the project i've seen before about 2month ago .

did you copy from it?

This is an update from the same team and posted by the same person, i.e. me. We just Pre-ANN again after we have made a press release on our joint venture with Tahoe Oil and Gas of Houston. Please see the above post for the press release.
https://bitcointalk.org/index.php?topic=631453.msg7027937#msg7027937
 

Aten, Ancient Egyptian Sun God, emits Rays reaching Human Hands.
Under illumination of Aten Coin, there will be no more Darkness in Cryptocurrency!
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May 30, 2014, 01:58:49 PM
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whats the innovation? Huh
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May 30, 2014, 04:52:40 PM
 #7

how does one apply/take part in it ?

XCurrency Price Speculation Topic
Coin Control Basic guide                                                                XChat address/private/instant/absolute: XSKu1fpwvRcAekfK91qVHi51Tgz4ckoA91
XChat public key: zcfx74j4fFK9hW7rQniTvLyDyXd9SyRCrncP9vdukbVT
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May 30, 2014, 05:11:35 PM
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Good idea, good items, waiting to continue to update!
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May 30, 2014, 05:17:51 PM
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do you need japanese transaltion?I would like do that ,lol
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May 30, 2014, 06:13:48 PM
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I tried to follow this coin launch a few months ago. So there is a launch revival happening now?
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May 30, 2014, 06:36:19 PM
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Nice coin.  I will be watching.  Can you make the algorithm X13 or Groestl and POW/POS with 3% inflation.  This coins value will skyrocket.  
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May 30, 2014, 07:05:49 PM
Last edit: October 13, 2015, 09:27:27 AM by Scitoshi
 #12

whats the innovation? Huh

Innovation?

In Phase 1, we are not aiming at creating a new coin with innovative cryptocoin technologies. Our innovation is our business model. Indeed I should not say innovation. I should say we provide a "solution".

Bitcoin as well as other alternate cryptocurrencies are not backed by real assets. The values of current cryptocurrencies can be considered as perceived values. When people lose confidence on a cryptocoin, its value can vanish overnight.

With our unique relationships in oil and gas industry and unique combination of backgrounds, we are able to provide a practical solution to this fundamental problem (i.e. perceived value) of cryptcurrencies. We use the revenue from our oil and gas production project to back the value of Aten Coin.    

There are still a lot of discussions going on in the NAC Foundation about how we can use the revenue from our oil and gas production project to back the value of Aten Coin.  Even we have revenue from the project. We still need a good method or business model to support the value of Aten Coin. I believe that we should be able to come up to a final business model within a week.

In Phase 2, we will focus on improving the cryptocurrency technologies of Aten Coin, so that it can meet the future need. Of course, future is future. We should focus on what we should do at this moment.

Aten, Ancient Egyptian Sun God, emits Rays reaching Human Hands.
Under illumination of Aten Coin, there will be no more Darkness in Cryptocurrency!
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May 30, 2014, 07:09:38 PM
Last edit: October 13, 2015, 09:27:40 AM by Scitoshi
 #13

I tried to follow this coin launch a few months ago. So there is a launch revival happening now?

You really can't imagine how much time NAC Foundation has spent to raise sufficient fund and seek for join venture partner to pursue the oil and gas production project.

It is not easy to start a real business, especially investing in oil and gas production.  

Aten, Ancient Egyptian Sun God, emits Rays reaching Human Hands.
Under illumination of Aten Coin, there will be no more Darkness in Cryptocurrency!
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May 30, 2014, 08:18:38 PM
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whats the innovation? Huh

Innovation?

In Phase 1, we are not aiming at creating a new coin with innovative cryptocoin technologies. Our innovation is our business model. Indeed I should not say innovation. I should say we provide a "solution".

Bitcoin as well as other alternate cryptocurrencies are not backed by real assets. The values of current cryptocurrencies can be considered as perceived values. When people lose confidence on a cryptocoin, its value can vanish overnight.

With our unique relationships in oil and gas industry and unique combination of backgrounds, we are able to provide a practical solution to this foundation problem (i.e. perceived value) of cryptcurrencies. We use the revenue from our oil and gas production project to back the value of Aten Coin.   

There are still a lot of discussions going on in the NAC Foundation about how we can use the revenue from our oil and gas production project to back the value of Aten Coin.  Even we have revenue from the project. We still need a good method or business model to support the value of Aten Coin. I believe that we should be able to come up to a final business model within a week.

In Phase 2, we will focus on improving the cryptocurrency technologies of Aten Coin, so that it can meet the future need. Of course, future is future. We should focus on what we should do at this moment.

If you demand from your oil and gas customers that they pay you in BGC then that will drive up the value of this coin.  Of course the coins should be listed in an exchange first.
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May 30, 2014, 11:34:07 PM
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If these coins are backed by oil & gas, then will I be able to cash in my coins for a tank of gas?
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May 31, 2014, 01:21:55 AM
Last edit: October 13, 2015, 09:27:54 AM by Scitoshi
 #16

If these coins are backed by oil & gas, then will I be able to cash in my coins for a tank of gas?

Good question. This is one of our proposed methods in discussion. However, crude oil produced by our oil and gas production project cannot be sold to normal people directly. The crude oil from our oil wells have to directly go to refinery first. Then it is more complicated than normal people can think of.

I will update Bitcointalk members here once NAC Foundation has decided how to link the value of AtenCoin to oil and gas being produced.

Aten, Ancient Egyptian Sun God, emits Rays reaching Human Hands.
Under illumination of Aten Coin, there will be no more Darkness in Cryptocurrency!
sylwt
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May 31, 2014, 09:16:37 PM
 #17

launch time?
Scitoshi
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June 01, 2014, 02:19:05 AM
Last edit: October 13, 2015, 09:28:12 AM by Scitoshi
 #18

launch time?

Hopefully, we could officially launch it by the end of this month (June) or in next month (July).

Aten, Ancient Egyptian Sun God, emits Rays reaching Human Hands.
Under illumination of Aten Coin, there will be no more Darkness in Cryptocurrency!
d4wn0ff473
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August 15, 2014, 01:52:25 PM
 #19

If these coins are backed by oil & gas, then will I be able to cash in my coins for a tank of gas?

The better question would be is if I can use the coins to buy futures in barrels of crude. If not then the partnership is somewhat fruitless and superficial.


launch time?

Hopefully, we could officially launch it by the end of this month (June) or in next month (July).

Also it's august, what is going on with this coin. The last true update was in may, and now you seem to be a month behind on the launch.
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August 15, 2014, 01:54:36 PM
 #20

@Scitoshi ,do you want to be satoshi?  Huh
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