Topic: [ANN]Aten Black Gold Coin-Aten Coin-1st AML Cryptocurrency-Launched on 21/9/2015 - page 3. (Read 19578 times)

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

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.

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.

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).

when is the launch is it ipo/mining

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.

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 ,do you want to be satoshi? 

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.



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.

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

launch time？

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.

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

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.

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.  

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.

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.  

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

do you need japanese transaltion?I would like do that ,lol

Good idea, good items, waiting to continue to update!