The PetroDollar - Big Oil Comes To Crypto
Switch branches/tags
Nothing to show
Clone or download
noname
Latest commit 8bcb135 Feb 19, 2014
Permalink
Failed to load latest commit information.
contrib More fixes so that Mac OSX Qt build works correctly. Fix branding. Feb 18, 2014
doc Artwork Feb 18, 2014
release Initial commit Feb 18, 2014
share Artwork Feb 18, 2014
src Branding fixes Feb 19, 2014
COPYING Initial Commit Jan 31, 2014
INSTALL Initial Commit Jan 31, 2014
README.md Artwork Feb 18, 2014
petrodollar-qt.pro Branding fixes Feb 19, 2014

README.md

The PetroDollar (p$)

Big Oil Comes To Crypto

Design

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/c...=5&pid=57&aid=6

89,343,600 pumped per day in 2012 http://www.eia.gov/c...=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 Stats

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.