Topic: [ANN]🔵OilCoin: the world’s 1st legally compliant digital currency backed by oil (Read 1546 times)

the concept of this project is very innovative, and I think this project is very feasible for us to support. so that this project can develop rapidly in the future.

I would expect the ICO will grow in 2018 by I like commitment to establish standards for compliance with the new rules of digital currency in this project. I want you to notice this

Sounds like a good idea for a cryptocurrency, but I have my doubts.  The last few individuals/groups that tried to replace the petrodollar,,,,,hmmm  let's just say that things didnt end too well for them.  I am afraid that this attempt to subvert the dollar,,,,(or rather provide an petrodollar alternative) will  not end well.

Hi. Where is the source wallet on github?

 this is pretty good but I'm still trying to understand the information that exists, but hopefully this be a good coin

how can i join this project ?
I did not find the registration form here

Those name mentioned on website are really big if all that is true. I was expecting to see more informative website but unfortunately doesn't contain not even basic information and specifications except a small text with whitepaper link and those names which are involved in this upcoming ICO according to site.

Might be possible that they are still working out their overall plan. They didn't announce any date or so. May still happen soon. This Bart Chilton guy exists, but that doesn't have to mean anything at this point of course.

I would recommend checking the "Petro" project: The real one, not the scam coins...
www.elpetro.gob.ve
Or look for the thread I created.
Petro seems to be the perfect investment for your needs

Hello,

the overall concept looks interesting. But i think i am in need of a clarification to the profit possibility for investors.

1. Is the overall value behind this coin solely in price stability?
(ICO / Cryptos are bought nowadays to seek profit for when a crypto rises due to influx of money. Based on your concept, the price variance would be kept ≤ to the oil barrel price.)

2. Fees: 1% fee for each transaction that goes to the foundation relative to the 10% incentive for transactions.
Example: Oilcoin has assets worth 100.000.000$ (lets say oil barrel = 66$ = 1515151 Oilcoins ). 1% fee of 151515 Oilcoins are 1.000.000$ = 15151 Oilcoins. Meaning, that the investors buying assets worth of 100.000.000 will only get assets worth 99.000.000$.

The second thing, from where do you get the 10% incentive to give seller and buyers?
I took the bottom Rank 40 to Rank 100 coins on coinmarketcap and avaraged the 24h trade volume and got to the number: 15.300.000$/day in transactions.

15.300.000$/day = 1.530.000$ given as incentive to buyers ( if it is given to buyers and sellers, it would be 3.060.000$ in fees. ) every day.
Your fee of 1% from 15.300.000/day = 153.000$ but you want to give 1.530.000$ in incentives. Am i understanding something wrong? How do you make the math work?

3. Will the asset (oil) be used by your foundation for speculation? Any other trading, sales or agreements outside of the blockchain?

4. What are the companies you have contracts with to purchase oil?

I am interested in this coin, but there are open questions i would like to have clarified if possible.

Thank You,
Richard


P.S.: I created this account only to ask this question, as it is the first ICO that speaks to me, but i still have questions that are open ended. I don't try to troll or annoy. I seek just answers.

the project seems dead.
no update for 2 month's
on social media also nothing to update.

Nice! Venezuelan Petro but with other name :-) a copy of their WP but adding "UD legally compliant" stuff and stuff ;-)

I think they will announce soon after discussing the bounty amount for the campaign. It is an important part of the success of the project, so just keep your eyes on this thread.

Hopefully, smoothly and successfully for this project.

Will be keeping an eye on this. Waiting for you guys to release the roadmap and flesh out more details.

This project is similar to DigixDAO except that it uses oil. Loads of potential for this.

What are you doing here?

any bounty for this project?

This project has a team that works hard and compact so it is not difficult for this project to develop. I hope the roadmap will be published soon to make this project look more convincing.

I think they probably have not completed the roadmap yet. Did OilCoin accept form of legally compliant? Can US citizen become participant of this ICO?

What is the progress of the project? are there any mainstream media coverage of your project? it's best to have a road map