Boooom - it's going nuclear

[sixgun]

http://radio.goldseek.com/nuggets/coughlin.01.23.2018.mp3

We are getting nearer and nearer to the bomb going off under the cartel. The coin is launched 1st March 2018. The $100million ICO has already been sold to Chinese hedge funds and so another $100million is being added to the launch. This will be gone before most of it goes public.

It will break their system. Physical holdings in the big funds allegedly held in the bullion banks will migrate out to this system. The bullion banks don't have most of this gold, some of it never existed. It will have to be settled in cash. That cash will then be chasing physical. This will take down their Ponzi scheme - there will have to be a price reset this year. Silver will take it down first

[PansPurse]

21 minutes ago, sixgun said:

http://radio.goldseek.com/nuggets/coughlin.01.23.2018.mp3

We are getting nearer and nearer to the bomb going off under the cartel. The coin is launched 1st March 2018. The $100million ICO has already been sold to Chinese hedge funds and so another $100million is being added to the launch. This will be gone before most of it goes public.

It will break their system. Physical holdings in the big funds allegedly held in the bullion banks will migrate out to this system. The bullion banks don't have most of this gold, some of it never existed. It will have to be settled in cash. That cash will then be chasing physical. This will take down their Ponzi scheme - there will have to be a price reset this year. Silver will take it down first

Can I ask, are you directly involved in or financially tied to this ICO/ crypto?

[Shinus73]

First of many - Perth Mint are also at it:

http://www.abc.net.au/news/2018-01-24/cryptocurrency-backed-by-gold-being-developed-perth-mint/9352036

 

[PansPurse]

Not even first, there's already at least half a dozen gold-backed cryptos and lots of others with other material backing.

[Shinus73]

19 minutes ago, PansPurse said:

Not even first, there's already at least half a dozen gold-backed cryptos and lots of others with other material backing.

You’re right of course, wrong choice of words - one of many was more appropriate.

[sixgun]

1 hour ago, PansPurse said:

Can I ask, are you directly involved in or financially tied to this ICO/ crypto?

No, other than i have followed Andrew Maguire and had dealings with him over the years, so i was aware of this from the beginning  and before that. i am posting it here not for people to jump on board but so they are aware gold and silver will be set free in the near future.

1 hour ago, Shinus73 said:

First of many - Perth Mint are also at it:

http://www.abc.net.au/news/2018-01-24/cryptocurrency-backed-by-gold-being-developed-perth-mint/9352036

 

 

55 minutes ago, PansPurse said:

Not even first, there's already at least half a dozen gold-backed cryptos and lots of others with other material backing.

None of these are like Kinesis. This is like Man United with Beckham, Ronaldo, Best, Charlton, Cantona etc all at their prime and these other offerings are Accrington Stanley Infants.

Just watch what happens - this will unravel the paper market before the year is out. It is the killer stake through the vampire's heart and laser guided silver bullet combined.

[PansPurse]

1 minute ago, sixgun said:

None of these are like Kinesis. This is like Man United with Beckham, Ronaldo, Best, Charlton, Cantona etc all at their prime and these other offerings are Accrington Stanley Infants.

Just watch what happens - this will unravel the paper market before the year is out. It is the killer stake through the vampire's heart and laser guided silver bullet combined.

I'm sure I've asked this before, but how does this differ from other offerings?

[sixgun]

1 minute ago, PansPurse said:

I'm sure I've asked this before, but how does this differ from other offerings?

Listen to the audio link i posted.

http://radio.goldseek.com/nuggets/coughlin.01.23.2018.mp3

Much of it is in the audio - i will be minting coins - all my family will be minting coins for this. i will be one of those who will be minting coins, selling them, buying gold, minting coins, selling....round and round and all the time taking an ever increasing yield. And all the time driving the stake further into the vampire's heart.

[Shinus73]

15 minutes ago, sixgun said:

Listen to the audio link i posted.

http://radio.goldseek.com/nuggets/coughlin.01.23.2018.mp3

Much of it is in the audio - i will be minting coins - all my family will be minting coins for this. i will be one of those who will be minting coins, selling them, buying gold, minting coins, selling....round and round and all the time taking an ever increasing yield. And all the time driving the stake further into the vampire's heart.

If I wanted to, how would I become a minter of coins? Or has that bird already flown?

[mr-dead]

The ico seems very low key, I can find little to no info on google or bitcointalk.

[sixgun]

9 minutes ago, Shinus73 said:

If I wanted to, how would I become a minter of coins? Or has that bird already flown?

i have bought and held metal on the ABX through Andrew Maguire for some time, people like me who are clients of Maguire and the ABX will get first bite. i do not expect much if anything left on the first round. There will be a big premium (25%) and a bigger yield for these people so we are really looking at someone who wants to get involved as a minter in the next wave of coins. The White Paper is coming out soon. They are expecting many people to get involved in future. i will keep posting here as the information comes out.

You could contact Goldstarglobal.com - this is Maguire's outfit. The metal that will be used to back the new coins has to be metal held in an ABX vault. You have title over that gold and this title is put into blockchain form which is the coins and these will be saleable on the German Stock Exchange. You will get the USD from the sale back into your account and you can then buy more metal which is then used to 'mint' more coins. Round and round it goes. More and more metal gets bought into the ABX system and more and more of the coins you minted are out there being traded. Each time they are traded you get a royalty. Build up enough coins out there and you will have a decent income. A pension fund built on gold and silver cryptocoins. Nice.

[sixgun]

2 minutes ago, mr-dead said:

The ico seems very low key, I can find little to no info on google or bitcointalk.

This has been very low key. There are many powerful entities who would rather this never was. They have wanted to have all the nuts and bolts in place and tight before releasing the information.

[mr-dead]

Just had a listen to the audio link.

Provided they have an independent audit of metal held it sounds very interesting.

Wondering how vault fees are covered for metals held.

[PansPurse]

1 hour ago, sixgun said:

Listen to the audio link i posted.

http://radio.goldseek.com/nuggets/coughlin.01.23.2018.mp3

Much of it is in the audio - i will be minting coins - all my family will be minting coins for this. i will be one of those who will be minting coins, selling them, buying gold, minting coins, selling....round and round and all the time taking an ever increasing yield. And all the time driving the stake further into the vampire's heart.

Ok just finished listening to it

Omg

Wow

That was HILARIOUS!!!

Yeah, I wouldn't touch this with a hundred foot barge pole.

[Xander]

This all becomes hum-drum after a while.

[Murph]

I haven't heard this mp3 but have read some of their blurb and it was full of marketing speak but short on specifics.  Plenty about islamic countries and investors who wanted to invest in a big way and it being ok under Sharia law.  Strange.

[Murph]

Listened to a few minutes and it sounds funny to me.  A yield of over 8%and probably as much as 50% for just holding your investment.  Where is this money coming from?  If it's backed by gold why would anyone pay over the gold market price for this?  Even charging a tiny fee for exchanges isn't going cover the estimated yields.

Didn't many people start cryptos to avoid a centralised controlling body?

[Shinus73]

18 minutes ago, Murph said:

I haven't heard this mp3 but have read some of their blurb and it was full of marketing speak but short on specifics.  Plenty about islamic countries and investors who wanted to invest in a big way and it being ok under Sharia law.  Strange.

Unfortunately, there seems to be no way of avoiding marketing speak these days. Everything has to be ‘hit out of the park’, or monetised, or some other nonsense.

Frankly, I don’t understand crypto currencies - I’m only 45 (tomorrow) and quite bright - but they’re beyond me, and I won’t put money into something I can’t understand.

This one may or may not be a great idea, but hearing somebody claim to have ‘kinetically charged’ gold, means that I’m struggling to take it seriously.

[Martlet]

Not sure why they chose that name, there was another crypto called Kinesis last November, abandoned it seems but makes for confusing image.  

More confused by how a gold asset will generate a yield.  Also there seems to be a contradiction at the centre, having title to the gold stored, then selling the "coin" while retaining ownership.  That sounds an awful lot like lending.  If you sell the original gold, the cryptocoin, now owned by someone else, is burned?  All sounds a bit odd.

 

[PansPurse]

12 minutes ago, Martlet said:

Not sure why they chose that name, there was another crypto called Kinesis last November, abandoned it seems but makes for confusing image.  

More confused by how a gold asset will generate a yield.  Also there seems to be a contradiction at the centre, having title to the gold stored, then selling the "coin" while retaining ownership.  That sounds an awful lot like lending.  If you sell the original gold, the cryptocoin, now owned by someone else, is burned?  All sounds a bit odd.

 

Yep, whole thing screams pyramid/ponzi

[onlyroadtoheaven]

2 hours ago, Shinus73 said:

 I’m only 45 (tomorrow) and quite bright - but they’re beyond me, and I won’t put money into something I can’t understand.

Happy birthday. I am sending you a Crypto cake to celebrate. Please send me £20 in fees to release the Initial Crypto Cake Token Offering.

I have looked at the large list of Cryptos via the ADVFN website and its completely nuts. Yes, I am bitter about missing out on the steep rise but I never invested because I didn't understand it or believe in it as per above poster. 2 books later and I still don't get it.

I purchased 2 sovereigns today for my tube and that has made me happy.

 

[MancunianStacker]

If it’s going nuclear then they can chase my physical.

if you don’t hold it...

[Shinus73]

30 minutes ago, onlyroadtoheaven said:

Happy birthday. I am sending you a Crypto cake to celebrate. Please send me £20 in fees to release the Initial Crypto Cake Token Offering.

I have looked at the large list of Cryptos via the ADVFN website and its completely nuts. Yes, I am bitter about missing out on the steep rise but I never invested because I didn't understand it or believe in it as per above poster. 2 books later and I still don't get it.

I purchased 2 sovereigns today for my tube and that has made me happy.

 

I’m unable to accept your kind gift, as my £20 monthly cake allowance will be spent on full fat physical cake from Sainsbury’s tomorrow morning. ?

[KDave]

This is something very very special if it is successful and works as intended. Finally a use for the block chain that makes sense. Third party risk is still present here, ABX I don't know much about them as an exchange, are they audited properly and who is going to make sure the blockchain is accurate and reflects the bullion in the vault (if its even in there ). If you don't hold it is true.

I can't see how it can be a ponzi though. You buy a gram of gold and you get a token, that token is then used to buy something via a crypto exchange, there will be a transaction fee in FIAT currency for the services of the exchange as exists already on the non backed crypto exchanges. You take a cut of the transaction fee because your token was used in the transaction, there is your yield. The next guy spends the token and because your gold is backing it you get a cut of that transaction fee. On and on it goes. I guess when tokens are redeemed they are removed from the blockchain and the gold is delivered from the vaults. 

Its a gold backed token traded on an exchange which charges USD for its services, and the creator of the token gets a small cut of the USD transaction fee, the exchange gets the rest. Correct me if I am wrong! 

What i don't really understand is the difference between the active and passive yield bit in reference to the tokens, can anyone clarify for a layman please? 

If its successful it will generate a huge demand for physical metals and take demand away from paper alternatives which offer no yield. It depends on its success really what effect this will have on the price of metals. You don't even need to get involved with this. If it works I guarantee other bullion exchanges will do the same thing which will increase demand further. It certainly could have some big far reaching effects on the PM markets and how the bullion exchanges do business. 

All just my take on it.

[sixgun]

4 hours ago, mr-dead said:

Just had a listen to the audio link.

Provided they have an independent audit of metal held it sounds very interesting.

Wondering how vault fees are covered for metals held.

i agree there is a lot of marketing speak which is vacuous. The basic system is very simple and is not a Ponzi scheme.

For those who are interested they can read the White Paper when it comes out.

Simply put

• You buy gold/silver on the ABX, like you have been able to for several years now. You buy it through the Metal Desk trading platform at one of the 7 trading hubs around the world.
• A blockchain title of ownership over the metal is created (Kinesis coins are minted).
• You can hold these or sell them through the German stock exchange, you sell your gold/silver by doing this
• You get the cash (USD) returned on sale, you can withdraw this, hold it in your account or reinvest it in more metal using the Metal Desk platform
• If you invest in more (new) metal, more (new) Kinesis coins will be created, they are title of ownership of this fresh metal bought into the ABX vaults.
• You can sell these new Kinesis coins, get the cash and buy more metal against which more Kinesis title of ownership coins are created.
• You can go round and round and round. All the time you end up buying more and more metal into the ABX vaulting system.
• For those in the secondary market they have a fully backed, segregated metal with blockchain title of ownership - (the coins) which they can redeem for metal if they wish.
• Traders expect to pay a percentage when trading a security - the spread. So there is nothing strange in that, it is just we are not used to being on the receiving end of this loot.
• Eventually 1000's of tonnes of gold/silver will be drawn into the ABX vaults as more and more Kinesis coins are minted. This will break the LBMA system, the gold moves out of their control and it all comes unravelled.
• If you were to buy say 1kg of gold and sell the Kinesis coins minted, then reinvest the cash in more metal on a say monthly basis, in a year you would have generated 12kg of Kinesis gold coins. You have 12kg of Kinesis coins out there with your name on them. If those coins changed hands spent/traded say once a month then there is a yearly turnover of 12 x 12kg or 144kg of your Kinesis coins. You will get a royalty on this turnover. This is how you can achieve a significant percentage even though the royalty as i call it for each transaction is small. On the post ICO coins if it is the same as BullionCoin was meant to be, it will be 0.05%. Not much but in the year it would be 0.05% of 144kkg of gold value. That is 144 x 32.2 x $1280 x 0.05/100 = $2967 in the year. That is a 7.2% yield on the value of your initial 1kg of gold. There will be a premium for Kinesis over the spot price and as the minter you will get some of that if it runs like BullionCoin was supposed to. This yield will be linked to the value of the gold so will increase if gold goes up and if you keep going your yield will become quite substantial as more and more coins are created. It is certainly something to get on board early. There are limits - like all the gold and silver is in the ABX vaults.
• The main worry i have is the governments raid the vaults and steal the gold and silver. This is going to break the hold on metal prices and things could get nasty at that point.

In essence it is remonetising gold and silver through the blockchain. That is all it is doing but the people can get involved if they want and can afford to buy enough gold/silver and create the money. This is the bit that makes it different, previously only the banks could make the money but they got too greedy and started making worthless fiat paper.