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Author Topic: Special new coin found!! Petrodollar (1 p$ = 1000 oil barrels - we hope: )  (Read 4056 times)

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devnullius

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I just started mining this coin 2 hours ago... If they turn out to be 'legit' in the future, I'm a rich girl!! 1 p$ should equal 1,000 oil barrels (say, 100$ to 150$ per barrel?).

Announcement from: https://cryptocointalk.com/topic/5509-ann-the-petrodollar-p-big-oil-comes-to-crypto/#entry48678
Quote
    Cogburn, on 17 Feb 2014 - 3:30 PM, said:

    289ekon.jpg
    The PetroDollar (p$)
    Big Oil Comes To Crypto
    This coin has been designed to have a 1:1000 relationship to barrels of oil still existing in the ground. 
    p$1 = 1,000 barrels
    Oil consumption increases at an average rate of 1.429% per year for the last decade
    http://www.indexmundi.com/energy.aspx
    1,221,074,628,164 barrels remaining
    "World Proved Reserves of Oil and Natural Gas, Most Recent Estimates - Energy Information Administration (EIA) - Data from BP Statistical Review, Oil & Gas Journal, World Oil, BP Statistical Review, CEDIGAZ, and Oil & Gas Journal." http://www.eia.gov/cfapps/ipdbproject/IEDIndex3.cfm?tid=5&pid=57&aid=6
    89,343,600 pumped per day in 2012
    http://www.eia.gov/cfapps/ipdbproject/iedindex3.cfm?tid=5&pid=53&aid=1
    Avg yearly rate of increase in output over past 4 years: 1.082%.
    Average consumption/output disparity: 0.347%
    Days until oil ends: 13667.17513245492682
    Coin Maximum: p$1,221,074,628 (1,000 barrels per coin)
    5 minute transaction time
    288 blocks per day
    Blocks 105,120 per year
    SHA-256D
    Kimoto's Gravity Well
    43200 blocks (150 days): 50% payout (p$61,037,314) or block reward of 1412.90078704
    After block 43200:
    Year 1-5 (blocks 43201-568800): 3170769.55844155 (30.16333293)
    Year 5-10 (blocks 568801-1094400): 1585384.77922077 (15.08166646)
    Year 10-15 (blocks 1094401-1620000): 792692.38961038 (7.54083323)
    Year 15-20 (blocks 1620001-2145600): 396346.19480510 (3.77041661)
    Year 25-30 (blocks 2145601-2671200): 198173.09740250 (1.88520830)
    Year 35-   (blocks 2671201-       ): 99086.54870120 (0.94260415)
    Until block 43200, fees are 1.429% of TX, destroyed
    Year 1-5 (blocks 43201-568800): 1.429%
    Year 5-10 (blocks 568801-1094400): 2.858%
    Year 10-15 (blocks 1094401-1620000): 5.716%
    Year 15-20 (blocks 1620001-2145600): 11.432%
    Year 25-30 (blocks 2145601-2671200): 12.864%
    Year 35-   (blocks 2671201-       ): 15.728%
    All fees are destructive, forever.


Seen this is the first successful launch for me to join early on, I am going to promote this coin extremely! I have over a 100,000 oil barrels already! @Shell, please contact me: they are in my way, I need space!! ;-)

Karma!!

Devnullius

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devnullius

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FROM: https://cryptocointalk.com/topic/5509-ann-the-petrodollar-p-big-oil-comes-to-crypto/page-7#entry50789

Quote
1BTC = $640USD
 
1 barrel of Brent Sweet Crude = $110USD
 
1 BTC = ~6 barrels of oil
 
p$1 = 1,000 barrels of oil (based on rarity and destruction rates)
 
p$1 = 166.666BTC
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devnullius

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Re: Special new coin found!! Petrodollar coin p$: mining difficulty
« Reply #2 on: 22. February 2014., 13:57:32 »
FROM: https://cryptocointalk.com/topic/5764-petrodollar-p-information/page-3#entry52797

Quote
    Cogburn, on 22 Feb 2014 - 11:03 AM, said:

    A note about the difficulty...

    This is not like your momma's SHA-256 coin.  This coin has 1 block retargets using KGW.

    From the settings employed in p$, Kimoto's Gravity Well produces a difficulty that aims to keep a transaction time average of 5 minutes over a two hour timespan.  The difficulty will swing wildly at times in order to keep that 5m block average over 2 hours. 

    This prevents the blockchain from getting stuck if a bunch of miners switch off the network, as well as prevents the blockchain from becoming compressed if a bunch of miners join the network.  In conjunction with a 5m minute target, KGW helps to reduce the number of orphaned blocks (ie: wasted mining effort) over the life of the coin... and reducing the risk of the recent dogecoin blockchain fork.

    If you're looking to measure this coin's network in comparison to other SHA-256 coins you've mined, you'll need to take an average difficulty of over at least 4 hours to get a good number.
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devnullius

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petrodollar petro$ petro dollar coin: scam or not?
« Reply #3 on: 23. February 2014., 09:50:30 »
I don't know anything anymore...

You decide! I still want to like this coin...

https://twitter.com/HoneyBadgerIDGF/status/437384815017345024/photo/1


Peace!

Devnullius


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petrodollar petro$ petro dollar coin: scam or not?
« Reply #3 on: 23. February 2014., 09:50:30 »

 

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