Topic: [ATENC] AML technology of Aten Coin - Privately Regulated Public Blockchain (Read 3508 times)

An inspiring article from Coindesk

Why We Should Care about Bitcoin Governance

You can read the article by clicking the Coindesk URL as following:
http://www.coindesk.com/why-we-should-care-about-bitcoin-governance/

Bitcoin: the future for personal finance or crime?

“Another advantage for criminals is the decentralised structure of bitcoin”, and the way that “data can be hidden so that prosecution authorities are unable to block or seize assets”.

Visit the following URL for details
http://www.swissinfo.ch/eng/virtual-currencies_bitcoin--the-future-for-personal-finance-or-crime-/41708756

Customer Bitcoins Stolen in Purse Email Breach

http://www.coindesk.com/customer-bitcoin-stolen-purse-email-breach/

This articles make people think about the security issue of Bitcoin again and again.

Bitcoin flounders in Australia as regulatory worries bite

"It really runs on people using bitcoin, and if nobody uses it then it's worthless,"
said University of Technology Sydney senior finance lecturer Adrian Lee.
......
Australia's organized crime agency has said it is concerned the currency's untraceable nature makes it attractive for money laundering and selling illicit drugs.
......
"Lack of transparency and regulatory oversight raises a number of risks for users and also poses risks for the payments system, the integrity of the financial system and the erosion of the tax base".
Tony Pearson, the association's acting chief executive.......

For details, you can visit the following URL
http://www.dailytimes.com.pk/business/12-Oct-2015/bitcoin-flounders-in-australia-as-regulatory-worries-bite

National Aten Coin Foundation's press release of the AML Technology of Aten Coin



For details, please visit the following URL
http://www.prnewswire.com/news-releases/nac-foundation-announces-proprietary-core-technology-of-aten-black-gold-coin-300160276.html

Indeed we are NOT targeting pumpers and dumpers. However, they are welcome as long as they have registered as valid Aten Coin users.
After selling 12 million ATENC, everyone can freely exchange between atencoins and any fiat currency at authorized KYC/AML compliant exchange markets.  

how will you attract pump n dumpers with this

BITCOIN WEBSITES BLOCKED BY VENEZUELAN GOVERNMENT

https://www.cryptocoinsnews.com/bitcoin-websites-blocked-venezuelan-government/

Polish Finance Ministry: EU Should Create Bitcoin Regulation

Polish Members of Parliament said " "piracy, cybercrime, phishing, thefts and hacking online accounts and attacks on the users of cryptocurrencies are increasingly often taking place".

Read this article from CoinDesk for details.
http://www.coindesk.com/polish-finance-ministry-eu-should-create-bitcoin-regulation/

If you worry about these problems, Aten Coin is your choice. Only Aten Coin is designed to alleviate these.

Thanks for your answers.

Based on them, I will respectfully decline involvement, but will watch your project with interest. Best of luck.

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

Black Gold Coin International Inc is having partnership with Tahoe Oil & Gas, LLC. Tahoe Managing Director is Jerrell Clay.
You can visit Tahoe's websitea and our press release article on May 29, 2014 for details.
https://tahoeoilandgas.com/
http://www.businesswire.com/news/home/20140529005293/en/National-Aten-Coin-Acquires-Participation-Oil-Gas#.VbHHn_mqqko

You can read our press release articles for more details by visiting the following URL.
http://www.einpresswire.com/article/236524002/digital-cryptocurrency-atencoin-releases-official-update-in-tahoe-oil-gas-investment
http://www.reuters.com/article/2014/09/04/tx-national-aten-coin-idUSnBw046362a+100+BSW20140904

We will soon have another press release article to update our Oil well drilling projects.


Disclaimers:
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. 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. NAC's only obligation is to try to the best of their ability to develop and maintain a digital currency with Anti-Money Laundering (AML) Compliance, and to monitor all transactions in an effort to detect suspicious activities. NAC will have the responsibility to report such suspicious activities to the appropriate governmental entities.

So theres a group setting up to drill in Louisana ? Well I know that thakes drilling rigs since i did work on the tug boats down there . And if this is true , what company is doing the drilling , I'd like to do some research on this and the website has international phone numbers as well , so to me that looks kind of strange . NOT saying that this is toal BS , but I would like a little more info on the drilling company and look a little further so I can think about if I would want to invest.

The First Aten Coin Conference will be held in Warsaw, Poland on 28 Oct 2015.

For details, you can visit http://www.AtenCoinConference.com/.

Yes, it is true. You can buy Aten Coin from exchange platform at www.AtenPay.com.

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

Q1: Besides being resistant to theft, what's the benefit of having my identity tied to my transactions?
Feedback: The benefit is that Aten Coin will be KYC/AML compliant. Having people identities tied to transactions allows us to reveal and report legal identities of senders and receivers who are suspected to be involved in criminal activities. Furthermore, having people identities tied to transactions allows NAC to trace back all transaction records of individual Aten Coin users, and allows NAC to perform in depth analysis to identify suspicious activities.

Q2: Where did you come up with 1 ATENC = 2 USD?
Feedback: Indeed NAC has been selling atencoins to public through direct sales. The price has been kept adjusting upon the response and demand from the market, and has reached a current value of 2 USD. NAC has already sold about 5 million ATENC to the public.
At the first stage, NAC will sell 12 million ATENC to the public, and the price will be decided by NAC. At this stage, people can only buy Aten Coin, but could not sell them.
At the second stage (when 12 million ATENC have been sold), people can sell their atencoins to other people through exchange markets. By then, the value of Aten Coin will be dictated by the public.

Let me try to answer your questions one by one.
Q1: So considering that one owner (you) owns the entire supply, how exactly are you planning to achieve any kind of network distribution?
Feedback:  At the first stage, we plan to sell 12 million ATENC to public through direct sales and our exchange at www.AtenPay.com.

Q2: Your own wallet stake and coin age can simply attack the network and dictate the longest chain whenever you want.
Feedback: You are absolutely correct. However, NAC will not attack the Aten Coin network as we are the central regulatory body of Aten Coin. This is just a matter of trust. As all senders and receivers are traceable (including NAC members), the identity of such hacker is traceable. After Aten Coin has been well distributed to the public, NAC will no longer have such capability to attack the Aten Coin network.

Q3: You're basically running an Initial Coin Offering or ICO. Where people have to give you, a private entity, AML/KYC levels of personal information so they can buy the money you created at the price you set. This is a big barrier to entry. Who's your target market, even?
Feedback: Our target market is those people who trust in bitcoin protocol, but want to ensure KYC/AML compliance.

Q4: Private regulation of a public blockchain is mildly interesting but will be obsolete when distributed networks on standard unregulated blockchains undercut you-- they have the same trustlessness benefits at zero regulation cost burden.
Feedback: NAC thinks in an opposite direction. Bitcoin, as well as other altcoins, will be obsolete. They all will be finally banned by various countries because their uses in criminal activities and in financing terrorist activities. For example, recently Australian’s biggest banks have closed bank accounts of at least 17 Australian Bitcoin companies.
 

this coin was already launched, true?

Besides being resistant to theft, what's the benefit of having my identity tied to my transactions?
https://exchange.atenpay.com/pages/kyc

Where did you come up with 1 ATENC = 2 USD? 
https://www.atenpay.com

Looks like you premined 24 million of 26 million Aten, then mined the remainder yourselves and it's fully proof-of-stake.

So considering that one owner (you) owns the entire supply, how exactly are you planning to achieve any kind of network distribution? Your own wallet stake and coin age can simply attack the network and dictate the longest chain whenever you want.

You're basically running an Initial Coin Offering or ICO. Where people have to give you, a private entity, AML/KYC levels of personal information so they can buy the money you created at the price you set. This is a big barrier to entry. Who's your target market, even?

Private regulation of a public blockchain is mildly interesting but will be obsolete when distributed networks on standard unregulated blockchains undercut you-- they have the same trustlessness benefits at zero regulation cost burden.