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I reported it...no call for that sort of abuse
I agree entirely Rebess, unfortunately, it will take some time and mean some investors losing money on the alternative unbacked Crypto currencies before they come to realise that Kinesis is quite different, in fact unique!
Tibbs
Good morning Spoonington
I agree with your philosophy of caution - of course - always. - KVT is not a coin that can be spent like the Kau/Kag. - There are only 300k of them in circulation and that's all there ever will be. - The 300k of KVT's are entitled to 20% of the yield-pool, a pool that is created through the fee-structure linked to trading. - It's more like a dividend payment that is paid monthly in proportion to the number you hold, divided by 300k x 20%. - So you are right, it is not backed by gold/silver as Kau/Kag is, but rather backed by the yield-pool. With regards to caution, it's why I have made the offer, so that you can at least tune-in - observe - learn and take it from there if you want to. - It won't cost you anything. - I should stress that it is in it's early stages of development and that your gold/silver deposits are on the basis of bailee/bailor conditions. - That is to say that ownership and legal-status of balances is always your property and not the property of Kinesis. - I'm not making a recommendation to Join Kinesis, - I'm saying if you want to find out, this is what I'll do for you.
Deary me Mark 9999,
You possibly put too much salt on your corn flakes this Sunday morning, never mind you cant help outburst!
Cant recall any posts from you on gold or Centamin, possibly you have nothing to post apart from vitriol?
When there isn't much new news about Centamin It's an established tradition to post on other topics at weekends to offer some distraction from the tension of the week and keep the forum alive and ticking over!
Hope you had a lovely week end and feel much better this morning!
....and meanwhile CEY sharer price drifts lower.
It is now 2023 and despite management promises and vast amount of shareholder funds they have expended I am still waiting for the wonder.
In the title
HEY Mark99999 first four words of that post fine - last two NOT OK.
Equities in Europe traded lower in the premarket on Monday ahead of the newest reports on Germany's gross domestic product (GDP) in the fourth quarter of 2022 and consumer confidence in the Eurozone.
The DAX declined by 0.35% at 7:41 am CET. At the same time, the FTSE 100 decreased by 0.39%. The CAC 40 dropped by 0.46%.
The euro and the pound sterling both stood flat against the dollar at 7:44 am CET, selling for $1.08644 and $1.23903, respectively.
Baha Breaking News (BBN) / JR
Keywords: EUROPEAN MARKETS
Happy Monday y’al
Gold currently $1930.39
Be cautious Rebess, the KVT side of Kinesis is most definitely an unbacked “sh*tcoin” & is the way in which the promoters of Kinesis stand to make a huge amount of money from unsuspecting retail investors.
The yield lure they dangle out is a red herring if you back solve the volumes they would have to achieve to pay any meaningful yield or even cover their operating costs.
They are using the lack of regulation of crypto & also shady jurisdictions like Lichtenstein to get around the fact they are issuing a security without any oversight or reasonable financial projections or business plans - they talk about yield but fail to make any estimations of what that yield will be or what critical mass in terms of issuance & volume required to cover costs & create a surplus to enable the payment of any yield at all.
If you ignore the counter-party risk the KAU & KAG may be OK but I would not touch it. I use an ETF for my trading gold holdings, PMGOLD, it is physically backed, convertible, ASX listed & the Perth Mint is guaranteed by the Western Australian government which has an AAA rating - to me it is far less risky than Kinesis.
Hi Bob
If at any time you do want to dip your toe in, I'll send you some gold via an email link, yes it can be done, it'll only be a fraction of a gram $5-$10 worth but it will allow you to open a Kinesis account using this as your initial deposit. You won't have to deposit funds prior to going through the process. - You will have to go through the process of proving your identity of course, the usual 'Know Your Customer' (KYC) routine that is a requirement of the law these days, but it does save a lot of hassle. You will then end up with a Kinesis account showing an account balance, meaning that you can sign into the Kinesis trading platform using your security process, passwords etc. and take it from there. - It's up to you from there of course. - I'm prepared to do this for any of our posters here at any time. - Btw, it's not a crypto product as such, but rather akin to a bank-account, only your balances are shown in gold and silver, Kau and Kag, also your yields are paid in Kau/Kag. You can apply for a debit card so that you can then spend your balances of Gold Kau or Silver Kag as ordinary money. - The big difference of course being that your balances are virtually inflation-proof. - Also, as indicated in my earlier post, you can redeem your balances for the physical metal subject to the minimums - 100gsm ( 100 Kau) for gold and 200ozs (200Kag) for silver. - Its only relationship to crypto is that it uses blockchain technology as an integral part of the process, a technology that almost everybody will be using as we become more integrated with the new digital world. - Not to be confused with the cryptocurrency debacle that we see unfolding/collapsing before us.
Thanks Tibbs We seem to be a bit blind as the machinations and working modus operandii which so affects the investors on this board. I did some research but after finding out that the Chicago Nercantile Exchange is the primary managing agent (in my uneducated view aka the Fed)
I have a view that there is a cartel in operation manipulated by the fed and certain key players.
Probably a little paranoiac on this but wild swings do (again in my opinion)smell of joint and coordinated action.
In that RUSSIA in 2021/2 was the worlds second largest producer of gold just behind China have the sanctions (obliquely or otherwise ) had an effect on demand and price for physical delivery due to Putins invasion of Ukraine.
Regrds
Bob
Many thanks Rebess I am very cautious of a crypto derivative after the recent debacle and cross financing deals. However Kinesis does seem to offer a realistic solution (until withdrawals exceed the backing margin) Might dip a toe in the water.
Regards Bob
Yet another crook exposed!
Sun, 29th Jan 2023 10:06
(Alliance News) - Nadhim Zahawi has been sacked as Conservative Party chair by UK Prime Minister Rishi Sunak, after an ethics inquiry into the handling of his tax affairs found a "serious breach" of the Ministerial Code
Good one Paul!
But "Leonard Cohen" summed it all up perfectly!
Every once in a while, it’s good to get an update on the state of the world from someone with a point of view a bit more enlightened than some periodical or the evening news. Leonard Cohen delivered just such an update on his 1988 classic “Everybody Knows,” a song that was thrillingly comprehensive in its overview then and somehow remains chillingly accurate now about the threats facing this planet and the foibles of the poor fools who inhabit it.
https://www.youtube.com/watch?v=4--RS0A9MMI
https://genius.com/Leonard-cohen-everybody-knows-lyrics
Mr T--you need something a bit depressing (easily done after being in centamin so long!)
A single malt and a bit of " The Killer" . He sang this at 21-----probably realising things didnt get better. Maybe he knew about the Egyptian legal system?
https://www.youtube.com/watch?v=2y-9I3RpGY8
https://www.youtube.com/watch?v=ADh6QTp8798
He's making a lot of sense to me
Stock markets and PM trading should be back 05/02 /2023.
Just in case you have forgotten.
Gold should be worth watching.
Good night.
Hi Sotolo,
Quite so Sotolo, not a thing to do with Centamin, that's why I posted, its good to have some diversion, my music taste a vert broad church to say the least, although I can't stand "Rap"
Yes, your partner is quite right on both counts!
https://www.youtube.com/watch?v=jEGNsc89rBA
https://www.youtube.com/watch?v=anxQ-CoesRQ
https://www.youtube.com/watch?v=au30c9ZMIPg
https://whatatune.com/four-of-the-best-mongolian-metal-bands/
https://www.youtube.com/watch?v=x8Q3PWjo8jM
https://www.youtube.com/watch?v=CdqoNKCCt7A
https://www.youtube.com/watch?v=GEMuAnFH_lM
Enjoy!
Not sure what it has to do with Centamin and where the share price, company and gold are going but fab clips, my partner said ‘he must be a cool man, can’t be one who likes Brexit if he likes New Order, well probably not’ got Tibbs right
Hi bobliz
Etf 's really just for just trading movement. - Physical withdrawal is possible in certain circumstances, but the bar is set very high I believe in terms of minimums.
For trading gold with the option of redeeming for physical, Kinesis is currently the best option around. - Minimum withdrawal of gold for physical delivery to your home address is 100gsm - If you live in Indonesia, minimums are as low as 5gsms. - Also, Kinesis now has its own mint and refinery and produces it own minted coins and bars. - Hope this is helpful.
Link:
https://kinesis.money/
New Order's Blue Monday was released on 7 March 1983, and its cutting-edge electronic groove changed pop music forever. But what would it have sounded like if it had been made 50 years earlier? In a special film, using only instruments available in the 1930s - from the theremin and musical saw to the harmonium and prepared piano - the mysterious Orkestra Obsolete present this classic track as you've never heard it before.
https://www.youtube.com/watch?v=cHLbaOLWjpc
Wintergatan - Marble Machine (music instrument using 2000 marbles)
https://www.youtube.com/watch?v=IvUU8joBb1Q
As usual the POG and Centamin get knocked down again for the weekend!
Hi Bob,
My understanding that despite any “Lien” it would be impossible for the ETF’s to fulfil all requests for physical despite any legal charge on the physical gold?
In which case what happens, what does the ETF do to resolve the issue?
I will see if I can get you an answer though!
Tibbs
Hi Tibbs
You might wish to correct me as perhaps an understanding not subsequently current but taking an ETF on gold had 2 options , purely a paper transaction but alternatively one backed by physical delivery, The ratio which I used to follow did show and had an insight into the appetite of the physical market.
and subsequent lien on the physical reality of gold transactions. May be I am in the current world totally askew.
Regard's
Bob
Find out why gold ETFs are NOT what they seem!
https://www.youtube.com/watch?v=hvM3rh2PQf4
Andrew Maguire reports on the accelerating adoption of a gold benchmark price for silver and commodity trades between nations, while examining the main drivers behind the current gold price rally.
The lifelong wholesaler reflects on the global implications of Russia’s plan to launch its own gold-pegged stable coin, evaluating its potential to undermine the role of fiat currencies in foreign trade transactions.