Re Boiler Room Scams?24 Feb 2018 11:43
Good morning Paddwah26, I take it that you don't visit this forum very often because if you did you would appreciate that our members discuss all sorts of market and investing issues as well as those that that may affect Centamin in some way.
Obviously a a new crypto currency that is backed by physical gold will affect the price of gold bullion and the value of mined gold ore will very much affect Centamin, hopefully to the good!
As to crypto currency boiler room scams, well I agree there may well be some and some investors may well have been scammed or persuaded by less than scrupulous brokers to invest badly or too early into crpto currencies that may be scams, haven't been properly backed or thought out.
As some very reputable people and organisations are involved with "Kinesis" and it is backed by officially audited physical gold bullion,not to mention complying with the "Shariah"ethical standards.
If people have any doubts about the credibility of "Kinesis" or those behind it then they can always express their concerns the FCA or serious fraud office
Incidentaly "Kinesis" is fully "Shariah" compliant (so no short selling of paper gold which goes on in our markets)
Gold is a ribawi item, which puts in a special category of six items regarded as so important to daily life that they cannot be hoarded (the others being silver, dates, wheat, salt and barley).
To be Shariah compliant, ribawi items must be sold on weight and measure, and cannot be traded for future value or for speculation. This kept these items in circulation so that ordinary folk could go about daily life without undue hardship caused by artificial shortages.
This placed Islamic investment institutions such as banks and funds in a difficult position, putting gold-backed exchange traded funds (ETFs), bullion bars and even mining shares off limits!
So I doubt that "Kinesis" it is a boiler room scam.
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