[ANN]Aten Black Gold Coin-Aten Coin-1st AML Cryptocurrency-Launched on 21/9/2015

[Scitoshi]

National Aten Coin’s Update: Investment in Oil and Gas Properties (Thu Sep 4, 2014 4:33pm EDT)

Proceeds from Oil and Gas Investments to be paid in Virtual Currency

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

NAC (National Aten Coin), creator of the Aten Black Gold Coin digital virtual currency, today provided 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.”

This is NAC’s second oil and gas well investment. The company’s first oil and gas well investment is in The Eureka Prospect, which is located in Iberville Parish, Louisiana. The drilling of the Eureka well will commence in early December 2014.

Tahoe plans to distribute proceeds from these oil and gas projects in Aten Black Gold Coin virtual currency, as well as U.S. dollars. For those 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.

NAC has entered investment discussions with other oil and gas exploration & production companies that operate in Texas, Louisiana, Kansas and Oklahoma.

“As I’ve stated before, we believe now is the right time to focus on the strong U.S. energy markets and NAC anticipates continued investments in oil and gas prospects for many years to come,” NAC’s Managing Member, Richard Gray said.


About NATIONAL ATEN COIN

NAC 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. NAC uses Anti Money Laundering (AML) control systems to manage customer identities and recordkeeping requirements. Additionally, NAC’s Proof-of-Stake v2 method secures peer-to-peer cryptocurrency (electronic cash system) transactions by verifying their coin holders’ ownership.

[Scitoshi]

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.

Yes. There have been a number of critical decisions being made in the NAC board. Finally, to make AtenCoin more resistant to 51% attack and to money laundering, we decided to make a number of changes that required much more time than expected. One work in progress is to incorporate PoS v2 developed by the BlackCoin team.

Hopefully, you can see our AtenCoin in one or more major exchange markets in Mid or late October this year. Let's keep the fingers crossed.

[bitcoinwonders010]

when is the launch is it ipo/mining

[Scitoshi]

when is the launch is it ipo/mining

You can say it is a kind of IPO. Similar to NXT coin, people cannot mint. We expect investors obtain atencoins via our sales team or via our designated exchange markets (which are coming soon).

AtenCoin has a max. supply of 26 millions. 24 millions have been minted by NAC. The rest will be generated by PoS (v2 adopted from BlackCoin) at 0.3% yearly interest (compound).  

For the 24 million minted atencoins, we have already sold 3 million to the stake holders in the oil and gas industry, and should reach 4 million atencoin sales by Mid-October. With the money obtained from the current sales, we have already invested in two oil wells. More investments are forthcoming.

We hope that in Mid/late Oct, we could officially launch our Aten Coin by allowing people to purchase atencoins from our designed exchange markets.

Similar to NXT coin, people cannot mint, but can obtain more money by staking (PoS v2).

[Scitoshi]

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

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.

[Scitoshi]

http://cointelegraph.com/news/112899/real-threat-not-legislation-but-banks-themselves-inpay-ceo

Cointelegraph Interview with InPay CEO Lech Wilczynski:

In: Real threat 'not legislation but banks themselves' - InPay CEO

Cointelegraph: Like many EU states, Bitcoin legislation is currently a very dynamic area in Poland. How is Inpay geared towards short-notice and potentially serious changes in the local legislative environment?

Lech: In Poland Bitcoin’s legal status is still not clear and we're lacking a proactive stance from the Polish Ministry of Finance, which is waiting for the European Commission’s ruling. That's why all Bitcoin related operations are handled by our UK branch for the time being. The real threat is not in legislation but in the way banks themselves will treat Bitcoin related companies.

They're still a mandatory element of infrastructure for payment processors. For that reason we plan to include NAC's Aten Black Gold Coin (www.atencoin.com) as another payment option, which by design uses Anti Money Laundering (AML) control systems to manage customer identities and record keeping requirements.

If banks will continue to force Bitcoin companies out of business, just like recently in Norway, this I believe will help to continue operations and still benefit from the decentralized nature of cryptocurrencies.

[shadowmoon]

okay,
more where this information about a coin?
And how it will be distributed ??

[Scitoshi]

okay,
more where this information about a coin?
And how it will be distributed ??

You could visit www.atencoin.com for more information.

It has taken us about a year to develop the full features of AtenCoin as well as investing in oil wells.

At this moment, we are fine tuning and testing AML feature. Once it has been completed, we will officially launch AtenCoin.

Its maximum cap will be 26 millions. 24 millions are premined. 12 millions will be sold to public through a designated exchange market.

[Scitoshi]

Photo of an AtenCoin Oil Well (taken in early October 2014)

[Scitoshi]

whats the innovation？

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.

We have changed our plan a bit. Instead of launching around June/July this year, we have decided to hold on, and wait until we complete our anti-money laundering (AML) system. You could say this is our innovation.

I am sure that nowadays more and more people aware of the importance of AML and KYC. Our AML system is also KYC compliance, but user friendly.  It is not possible for people to provide the his/her name and address while buying a cup of coffee with bitcoin. For Aten Coin, one can use it painlessly (i.e., without providing the his/her name and address at the time of spending).

I hope our AML system will be ready soon. Then we could launch Aten Coin asap.

[duts_bg]

Well, well! We are waiting!

[BTCat]

This is such interesting project combining the production of oil and gas with cryptocurrency. I think many people are gonna like this adventure.
Is it true that it will launch for public participation in Januari? I've heard some rumour about this.

Could you tell anything about the wells that are currently being drilled? A little different from mining digits, this crypto is gonna be backed by real valuable commodity. Now the crowd that has been begging for gold backed currencies can make a choice. Max Keiser is gonna like this 

[Scitoshi]

This is such interesting project combining the production of oil and gas with cryptocurrency. I think many people are gonna like this adventure.
Is it true that it will launch for public participation in Januari? I've heard some rumour about this.

Could you tell anything about the wells that are currently being drilled? A little different from mining digits, this crypto is gonna be backed by real valuable commodity. Now the crowd that has been begging for gold backed currencies can make a choice. Max Keiser is gonna like this  

Thanks for showing interest in our Aten Coin.

For some information about our wells, please refer to our previous post. Here is the url.
https://bitcointalk.org/index.php?topic=631453.msg9659116#msg9659116

Briefly, our Taylor 1 well is located in Sugar Valley Oil Field in Matagorda County, Texas. This is a very successful project. We have got good supply of crude oil.

"Gold backed currencies"...... Our team has been discussed about what makes us different from gold backed currencies as well as whether we should also include some gold reserves as an additional tool to stabilize the value of Aten Coin, but we haven't come up to any decision so far.

Creation of Continuous Demand of Aten Coin
I would like to say there is an additional benefit when we back Aten Coin by oil instead of gold. Gold is "static", unless one keeps trying to buying gold low and selling gold at higher price. Oil is dynamic. New oil is being produced everyday. Oil is also an consumable, while gold is not. We collaborate with oil well drilling companies to drill and sell crude oil & nature gas. Our collaborators will pay us part of the profit in Aten Coin. In such case, our collaborators need to purchase Aten Coin from the exchange market. As a result, there is a huge continuous demand for Aten Coin from the public (via the exchange markets).

Value of any items are governed by the law of demand & supply. You can foresee that when there is more demand and supply, the value of Aten Coin will quickly increase.  If one backs up a cryptocurrency by gold, such "creation of continuous demand" cannot be achieved as easily as we could.

AML Feature
Finally, I would like to say. Our team have been working very hard. We are finalizing the AML features of Aten Coin. Right.. we plan to launch in January.  By then, one can purchase Aten Coin from a designated exchange market. However, we wouldn't launch Aten Coin if our AML (anti-money laundering) feature is not ready.

Aten Coin - A Cryptocurrency being created with time & effort
It has been a long journey for creating Aten Coin. I remembered that I first met Marcus, Founder & CEO of National Aten Coin Foundation, in Dec 2013. We already spent one year from nothing to the current stage. We do not want to launch any cryptocurrency in rush. Instead, we want to launch a cryptocurrency which is solid. Similarly, we won't rush to launch Aten Coin now.

I hope that when Aten Coin is officially launched, everybody will say
"Hey! This is a new cryptocurrency going to change the whole cryptocurrency world! Aten Coin is a cryptocurrency that we must buy!".

[Scitoshi]

I am terribly sorry for keeping your guys waiting.

I am pleased to announce that Aten Coin will be soon available in the ANXPro Exchange.

https://anxpro.com/

[MiningSev0]

I am terribly sorry for keeping your guys waiting.

I am pleased to announce that Aten Coin will be soon available in the ANXPro Exchange.

https://anxpro.com/

What are the technical coin specs?

PoW, Hybrid, PoS, ...?
Which algo do you use?
Max. supply?
Block reward/Staking intrest?

[Scitoshi]

What are the technical coin specs?

PoW, Hybrid, PoS, ...?
Which algo do you use?
Max. supply?
Block reward/Staking intrest?

Although we have not yet officially announced this, it should be fine if I disclose its specifications here:

Aten Coin Specifications
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 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 Brand-New Built-in Anti-Money Laundering & Anti-Stealing System [details will be available when exchange starts]

[Scitoshi]

About National Aten Coin and the Aten “Black Gold” Coin [AtenCoin]

Headquartered in Las Vegas, Nevada, National Aten Coin (NAC) is the creator of the Aten “Black Gold” Coin, a cryptocurrency (a form of electronic money) and its global payment transaction network. 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 stealing, maintain liquidity and stabilize value of the cryptocurrency.

The Aten “Black Gold” Coin is complaint with the:
Anti-Money Laundering (AML),
Counter Financing of Terrorism (CFT),
Anti-Fraud and Financial Crimes (AFF),
Office of Foreign Assets Control (OFAC),
Elder Abuse Reporting Act (EARA),
Bank Secrecy Act (BSA),
USA PATRIOT Act, and
FACT Act.

For more information please visit: http://AtenCoin.com.

[BTCat]

Here is a good article:

ANXPRO Exchange To Include Aten “Black Gold” Coin In 2015
http://www.cnbc.com/id/102368697

[Scitoshi]

Here is another article in Digital Currency Magnates.

“Anti-Money Laundering Coin” to Become Available for Trade on ANXPRO
http://dcmagnates.com/anti-money-laundering-coin-to-become-available-for-trade-on-anxpro/

[Scitoshi]

About ANX

Founded in June 2013, ANX has grown into one of the most used Bitcoin exchange platform worldwide. According to Bitcoin charts, ANX is the 6th largest Bitcoin Exchange in the world by volume. ANX is a pioneer and leader in the crypto-currencies industry. ANX’s achievements to date include introducing the world’s first physical Bitcoin retail store, the world's first Bitcoin Debit Card, the world’s first multi-currency online Bitcoin exchange platforms (ANXPRO.COM & ANXBTC.COM), the world’s 3rd Bitcoin ATM machine, and a full-featured ANX Vault mobile app for crypto currencies. ANX has recently acquired the Norwegian bitcoin exchange USTCOIN.COM to expand into the European market. ANX was one of the first firms specializing in crypto-currencies to be issued with a Money Services Operator (MSO) license and prides itself on its transparency and regulatory compliance. The founding partners have financial markets, management consulting, banking technology and compliance backgrounds.

For more information, please visit: www.anxintl.com