Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
BA, I'm not disagreeing, I just don't understand what you mean by this...
Make Tally attractive by bundling it with a commonly used INELASTIC product or SERVICE and prove saving
b1gdeano I've just put another message on the forum in the open section so everyone can see it. I think they are taking the p!ss and it needs addressing. It's the main priority as far as I can see. Even if they try to crowdfund this, I can't see anyone buying into it when the company refuse to prove the gold is actually there.
Fold??? haha, meant gold
BA, I get where you are coming from on a lot of what you say and regarding the cross border transfer. But not about the fold aspect and not about tally using this to educate people. Simply having Tally available has been, in itself an education to several people I know, who before using tally were financially illiterate. Now that have actually become interested in 'boring' things like how inflation destroys fiat over time and and how holding gold long term has been far more advantageous than holding fiat. I'm not talking about investment, just saving what would traditionally be held in a fiat bank account, I wish my parents told me out this stuff when I was at school, my life would have been a lot different.
You are definitely right about people having less disposable income going forward, but people need to learn to save for a rainy day and hopefully this financial cluster**** we are going through will encourage a few more to do so, and when they do so, they would be wise to put a bit in to gold or silver and tally is an easy way to save in gold, that's why I see gold as an important aspect of tally and why I think it should be at the forefront, not hidden.
Of course the exchange rate varies, but long term fiat is inflated and goes down in value compared to gold.
I know we all have different things we want to see happen, the cross border transfer is a huge use case but not the only one.
BA
I don't expect to become a millionaire by holding tally but it has increased the fiat value of my holding several thousand pounds if I were to convert back, so holding some savings in tally as opposed to monzo has been an advantage. I have several banking apps and transfer between them is quick and easy, I don't have to faff around, simply pull out whichever card i want to use from my wallet, or transfer my fiat to which ever account I want to hold it in.. I'm curious as to how the gold backing has ruined the product.. What would you be using as an alternative to gold if it was your decision? And why?
One positive, the new update makes the app much smoother and fixes a lot bugs, including the pin number showing issue when logging in. Hopefully the onboarding issues are sorted backend and wont be long before new features start coming on now.
I see on LinkedIn, (I only just realised so might the old news) they have taken on a couple of.months ago, two developers.. They look to be experienced in this field so hopefully they can sort this app out, it's too buggy, and needs more features and obviously can't stand up to increased user numbers which is why they're not trying to get more users. Without users, there's no data or revenue increase to show, which is what's needed before they'll crowdfunding or relist..
They all seem to answer questions like politicians which is pointless and annoying as the same questions have to be asked again and again to try and get an answer. They cannot expect people to have confidence in them when they act like that.
I remember reading about the 2000 average somewhere but can't remember where and you're right they didn't and don't give that as an answer when asked, which is ridiculous as they've obviously stated it somewhere. There are numerous flaws in the way the company acts and there's absolutely no excuse or reason for it as many could be easily fixed and would cost nothing.
Smbbb
My view hasn't changed, the company says they have numerous things in place, such as the trustee that will sell the gold for 1% fee and deposit the balance back to our account, they have independent audits bu KPMG, and they have insurance in place, and Cameron has signed his name to it all... Now as much as I have said to him this doesn't mean it's actually there just because he says it is rather than providing evidence, and I've asked for independent legal cosigner at the very least before I'll be 100% reassured... The fact that all of that has been claimed goes beyond his limited liability as a director into the criminal fraud area if it turns out not to be true and we suffer a loss because if it.
Limited financial liability protection of a ltd company is one thing... Outright criminal financial fraud is another.. I doubt he would be willing to risk prison time it if were all a lie.
More actual evidence is required purely as a positive selling point as well as reassurance but I'm taking the risk for now that CP doesn't want to risk picking the soap up when having a shower for a few years.
That's all we can do...
I don't have a problem with comments that are critical of the company or product, I have posted many of them myself... I just find it silly to be 100% calling this a scam etc all the time... That's not aimed at you, just a generalization.
There is confusion here, I am simply sharing the opportunity for people to have easy exposure to gold so they can potentially protect their fiat through the product, the app. I consciously do not promote the shares in an attempt to get people to buy in should this relist in the hope it raises the price and gives me an opportunity to sell at a profit on the back of someone else, I have no ulterior motive. I see very little risk in using the app, that is why I want people to be aware of it and use it if that is something they are interested in. In respect of the safety of the app, I appreciate it is linked to the company and if the company fails the app will disappear, Tally and the directors have all confirmed the gold is safe and will be sold and deposits will be made back to holders bank accounts... I appreciate this is a slight risk bit I am confident there is protection for the gold held by users of the app or I would not even be sharing it.
If, after the personal statement made by the board, it does turn out to be a scam and all money is lost, including the holding in tally, make no mistake, I will spend a lot of my free time and money for many years ensuring everyone knows about this and who was involved, I do have morals and I also do not let things go easily if I'm wronged. But right now there is no evidence of a scam even though it is taking longer to relist than hoped for (not that I want to sell as I see the potential) so I am happy to use it and share the advantages with anyone that is interested and wants to use it.
Buzzbox, you really need to calm down, It's not just me telling people about the advantages of holding gold, anyone with an ounce of common sense and the intelligence to research historical figures relating to gold v fiat v effects of inflation can see for themselves it is advantageous to hold gold over fiat.
If people are prepared to make their own decisions rather than mindlessly following the herd that's their choice. Those that are looking for an easy, liquid entrance to holding gold probably don't know about Tally the page is there for those that are interested, I'm not forcing anyone to join or read it. The people I have introduced to Tally and are using it, are more than happy with how it's performed as a hedge. Some haven't used it and that's their choice..
It's all about choices you see.. We all make our own, I just don't call people fools because they make a different decision to me, even if I think they are.
See I wouldn't actually say this but some would..
People that invest their money (that they are clearly so desperately in need of) in a company that is building a gold backed currency but constantly bang on about how much of a useless waste of money and scam it is and they would never use the product they invested in (even though it would have increased the purchasing power of their deposit by approx 40% over the last year), are a bunch of fools that are actively trying to destroy their own investment for some reason and then blame others. But like I said, that's not something I would say because I'm an adult and understand everyone is different and they can make their own decisions based on their own research and risk tolerance.
As for 'nobody' I don't want to burst your self righteous bubble, but people do care including you, or you wouldn't be on here or have joined the Tally facebook group. Please feel free to leave the fb group if you've no interest and don't care about Tally or your investment in it.
Buzzbox, you really need to calm down, It's not just me telling people about the advantages of holding gold, anyone with an ounce of common sense and the intelligence to research historical figures relating to gold v fiat v effects of inflation can see for themselves it is advantageous to hold gold over fiat.
If people are prepared to make their own decisions rather than mindlessly following the herd that's their choice. Those that are looking for an easy, liquid entrance to holding gold probably don't know about Tally the page is there for those that are interested, I'm not forcing anyone to join or read it. The people I have introduced to Tally and are using it, are more than happy with how it's performed as a hedge. Some haven't used it and that's their choice..
It's all about choices you see.. We all make our own, I just don't call people fools because they make a different decision to me, even if I think they are.
See I wouldn't actually say this but some would..
People that invest their money (that they are clearly so desperately in need of) in a company that is building a gold backed currency but constantly bang on about how much of a useless waste of money and scam it is and they would never use the product they invested in (even though it would have increased the purchasing power of their deposit by approx 40% over the last year), are a bunch of fools that are actively trying to destroy their own investment for some reason and then blame others. But like I said, that's not something I would say because I'm an adult and understand everyone is different and they can make their own decisions based on their own research and risk tolerance.
As for 'nobody' I don't want to burst your self righteous bubble, but people do care including you, or you wouldn't be on here or have joined the Tally facebook group.
Yes.. I am aware of all the things that have happened or been said..
But have you actually suffered a loss that can be proved in court? At this time you haven't, you have share in a company that isn't listed.. As much as we all want it listed, it is still an active company with assets and is still trading, no one has currently been scammed or suffered any loss.
No being able to trade or sell your shares does not make this a scam, it makes it annoying if you want to sell your shares, nothing more than that at this point.
THAT IS AN ACTUAL FACT
I get all the negativity and if people want to keep track of what's been stated with a view to building some sort of legal case then that's up to them, should be turn out to be a scam then they'll be prepared and we may all benefit from their foresight. But as it stands, as much as I agree there are plenty of negatives, there is no evidence of this being a scam, just a small company building an innovative product with limited resources. Whatever happens to the company, the biggest risk I see right now that I have a choice in, is to the purchasing power of savings/currency held in a traditional bank, that is 100% guaranteed to lose value with the inflationary monetary policies in place right now by all fiat banks.
I can't do anything with the shares so that's on the sideline right now as far as financial decisions. What I can do is use the product to protect my spare £'s and that is what I am doing and it is working extremely well.
Everyone needs to do what they think is best for them in any given situation, but what I can say is the currency I deposited into Tally over the last 12 months has more purchasing power now than any currency I, or anyone else, decided to leave in a traditional bank... That is 100% fact.
Right now currency is being destroyed, it is your decision as to what you do to protect yourself as much as possible, everything has risks attached we just need to evaluate them and make a personal choice in what to do. We have a great product (basic and buggy but does the actual job)
It is your choice if you use the product that's been built by the company you have a stake in or you have knowledge of.... Just remember that in the coming years.
b1gdeano
I guess it's ok for trading although I haven't looked into the fees or exchange rates. As far as trading, I think Binance is pretty good and one of the cheaper and easier ones, but I'd keep my crypto on a ledger wallet, deposit to Binance do the trade and then back to my ledge wallet. But that's just me as I don't want to leave the crypto on an exchange or in a wallet I don't have the seed phrase or private keys to.
There appears to be several issues with the Revolute model from whatbive read, it may have some good points but holding all those different payment options under one roof is a massive no, no for me... For a start I don't think the gold is allocated, just a pooled account that could be and probably is open to Rehypothecation. The Bitcoin/cryptocurrency aspect is only for buying and selling, users don't have their own private keys and wallet and can't send it receive crypto, only buy and sell it.. No private keys means youndont own it, again ripe for abuse and Rehypothecation.
It's not a business model I'd sign up to or want Tally involved in, in any way.
I'm pretty sure they enjoyed playing the game or they wouldn't have been doing it or able to get to the premier league, some sacrifices may have been made sure but the advantages outweighed them at all levels or they wouldn't have continued. If you think a couple of hundred thousand £ a week is a reasonable wage for playing football then that's fine, if you think they should be paid that at the detriment of the no football playing staff and being paid that will drive their club to bankruptcy because of their short sightedness and greed, then fine. If their club is earning the money from people paying a fortune to watch a game and they are happy to pay that then that's up to them, I'm not interested in it and wouldn't waste my money on it. My point was, that the club is not generating the revenue to pay these players but the players don't have the brains to realise they are draining the clubs of funds and will destroy the club eventually causing it to bankrupt and everyone loses everything.
Very true on the salary point, that has become blatantly obvious in the news recently with the greedy, entitled footballers not taking a pay cut forcing others who earn a fraction of their pay, to have their pay cut and risking the financial viability of the clubs... Just for kicking a ball about and 99% of them aren't even much good at that.