Kinesis Gold and Silver currency

[sixgun]

Another interview but a different speaker this time. Click the image above.

ICO Radio invited our Head of Sales and Trading, Ryan Case, to chat with host Barry E James (ICO Radio, City AM) about the Kinesis Monetary System, the Kinesis debit card and what we see as the (near) future of money.

Edited August 31, 2018 by sixgun

[Mildred]

From GATA

A senior Russian lawmaker has suggested that Moscow should turn to cryptocurrency backed by gold for payments in Russian arms exports to evade financial sanctions from the West. ... Pointedly, the lawmaker called on the government to switch to a cryptocurrency as a means of avoiding U.S. dollar-based commerce and dependence on the global interbanking system operated by SWIFT, an organization that has been influenced by U.S. interests in the past.

It looks like there is a job vacancy for Kinesis in Moscow 😀

 

[sixgun]

The idea of precious metal backed cryptocurrencies is spreading and taking root. Notice how Russia has dumped the dollar and bought gold. These half wit sanctions are driving large tracts of the world away from the USD and into gold; into gold backed cryptocurrencies.

Russian Lawmaker Calls for Creation of Gold-Backed Cryptocurrency to Circumvent Sanctions.

https://schiffgold.com/key-gold-news/russian-lawmaker-calls-for-creation-of-gold-backed-cryptocurrency-to-circumvent-sanctions/amp/?__twitter_impression=true

Gold is “a 100 percent guarantee from legal and political risks,” Central Bank of Russia First Deputy Governor Dmitry Tulin said - i'll second that.

Edited September 1, 2018 by sixgun

[sixgun]

 

[Mildred]

Mon Aug 27 05:05:16 2018 Attention Brokerage Customer

Your account currently has position(s) in September Gold, Silver, Copper, Platinum and/ or Palladium Futures. FYI, this product is a physically settled contract. To prevent any possible deliveries. All accounts with positions(s) in September Gold, Silver, Copper, Platinum and/ or Palladium Futures must be flat or short by 3:30 PM CT Thursday August 30th. If your account has long position(s) in September Gold, Silver, Copper, Platinum and/ or Palladium Futures after 3:30 PM CT on Thursday August 30th, long positions will be immediately liquidated and all working orders will be cancelled. If you have any questions, please contact E*TRADE Customer Service at [877-553-8887]

https://www.silverdoctors.com/silver/silver-news/silver-price-alert-brand-new-evidence-the-most-epic-short-squeeze-could-be-imminent/

I don't know what to make out of this. I don't think the email is an hoax, but one cannot overlook that "To prevent any possible deliveries." is not a sentence 😕
If the generality of E*Trade account holders had received this email, this could be important.

 

Anyway, at least interesting to know that compared to the last 10 years margin requirements at the comex are that low. Their increase would probably trigger a major buy-back by the so called big speculators

[Bumble]

@Mildred"Preventing any possible deliveries" does make sense. You have entered into a long contract, i.e. a contract to purchase physical metal. If you don't sell or cancel this contract, then the counterparty will deliver this metal to you, or rather, to your broker, since the contract is probably in a nominee account. Since your broker does not want their entrance lobby to be filled up with crates of metal belonging to their clients, it is part of their terms of service that you close your position in advance of the completion date.

[Martlet]

2 hours ago, Bumble said:

@Mildred"Preventing any possible deliveries" does make sense. You have entered into a long contract, i.e. a contract to purchase physical metal. If you don't sell or cancel this contract, then the counterparty will deliver this metal to you, or rather, to your broker, since the contract is probably in a nominee account. Since your broker does not want their entrance lobby to be filled up with crates of metal belonging to their clients, it is part of their terms of service that you close your position in advance of the completion date.

Yes, its a simple typo.  Put a comma after "deliveries" and the sentence makes sense.  

[sixgun]

A yield on your gold and silver - something we have always wanted but since they took real money from us we have not been able to get.

 

[Mildred]

@Martlet, a typo is unintentional.  You are saying that an E*trade employee, while writing to a E*trade client, put down unintentionally a full stop in the middle of a sentence and then unintentionally started the following word with a capital letter

 

On 02/09/2018 at 13:35, Bumble said:

@Mildred"Preventing any possible deliveries" does make sense. You have entered into a long contract, i.e. a contract to purchase physical metal. If you don't sell or cancel this contract, then the counterparty will deliver this metal to you, or rather, to your broker, since the contract is probably in a nominee account. Since your broker does not want their entrance lobby to be filled up with crates of metal belonging to their clients, it is part of their terms of service that you close your position in advance of the completion date.

@Bumble, the point of the silverseek article was that that notification was a surprise to the E*trade client. If it is part of E*trade's terms of service that clients close their position in advance of the completion date, then why the surprise. 

Anyway, the possibility of a brokerage allowing its clients to trade futures but with a general provision preventing them from taking delivery, that's something new to me. Who knew

[Martlet]

2 hours ago, Mildred said:

@Martlet, a typo is unintentional.  You are saying that an E*trade employee, while writing to a E*trade client, put down unintentionally a full stop in the middle of a sentence and then unintentionally started the following word with a capital letter

Yes, it happens. The capital would have auto corrected.  You said yourself its didnt make sense, but change that punctuation and it does.  The purpose of the article is make a fuss out of nothing.  

Always consider a cockup before a conspiracy. 

[welshdragon]

Looks like Kinesis have now released their Token sales numbers now they have moved from pre-sale in to public sale.

They are reporting 55,854 on the homepage right now (https://Kinesis.money).

I’m not sure exactly how much money that translates too (as Tokens had various different prices in pre-sale), but I’m guessing it should be in the  ball park of $50 million.

[Groundup]

What's the difference between the pre-sale and the public sale, no biggie just curious to know.

[lubi29]

3 hours ago, Groundup said:

What's the difference between the pre-sale and the public sale, no biggie just curious to know.

Price for public sale 1KVT 1000 USD pre-sale various discount  from 25% to 2,5% depends on date you join.

[sixgun]

The KVT's have been distributed. i have checked all the wallets i am dealing with and the KVT's are all there.

You can quickly check using https://etherscan.io/

In the top right of the page there is a box with search by address. Put the PUBLIC address of the Etherwallet you used when applying for KVT's. Then click on the ' Ecr20 Tokens Txns' tab next to the blue highlighted Transactions tab.

[sixgun]

6 hours ago, Groundup said:

What's the difference between the pre-sale and the public sale, no biggie just curious to know.

No discount to buyers in the public sale. From what Tom Coughlin has told us this period was when they primarily sold to retail customers, not sold to institutions. There sounds like there is quite a lot of deals behind the scenes with bigger players including the institution that put its hand up for 100 000 at St Moritz.

10 hours ago, welshdragon said:

Looks like Kinesis have now released their Token sales numbers now they have moved from pre-sale in to public sale.

They are reporting 55,854 on the homepage right now (https://Kinesis.money).

I’m not sure exactly how much money that translates too (as Tokens had various different prices in pre-sale), but I’m guessing it should be in the  ball park of $50 million.

Tom Coughlin said the KVT's had mostly been sold near the full price. i got most when it was 25% discount but i was prepared to take the leap of faith.

Many dragons in the Cayman Islands?

Edited September 10, 2018 by sixgun

[welshdragon]

Token distribution is still going I think. Well, I'm still waiting for mine anyway.

[welshdragon]

33 minutes ago, sixgun said:

No discount to buyers in the public sale. From what Tom Coughlin has told us this period was when they primarily sold to retail customers, not sold to institutions. There sounds like there is quite a lot of deals behind the scenes with bigger players including the institution that put its hand up for 100 000 at St Moritz.

Tom Coughlin said the KVT's had mostly been sold near the full price. i got most when it was 25% discount but i was prepared to take the leap of faith.

Many dragons in the Cayman Islands?

I got most of mine in the 25% discount phase. 

 

Haha....couple of dragons over here in the Cayman Islands, along with the resident Iguanas. 

[Groundup]

47 minutes ago, welshdragon said:

I got most of mine in the 25% discount phase. 

 

Haha....couple of dragons over here in the Cayman Islands, along with the resident Iguanas. 

I hope to join you when Kinesis takes hold. Lol. Make some room for a bit of Yorkshire pudding.

[sixgun]

4 minutes ago, Groundup said:

I hope to join you when Kinesis takes hold. Lol. Make some room for a bit of Yorkshire pudding.

i am trying to stick to a low carb diet but i love Yorkshire pudding - with onion gravy or golden syrup.

[welshdragon]

Definitely in for Yorkshire Pudding. May need to get some parsnips shipped in though. A good roast isn't complete without roasted parsnips.

[Groundup]

The excitement is ramping up now. I'm trying to save a few quid for ICO offering.Laying off the collectibles to fund them. What's your preference Kau or Kag or a bag of both???

Edited September 10, 2018 by Groundup

[sixgun]

9 minutes ago, Groundup said:

The excitement is ramping up now. I'm trying to save a few quid for ICO offering.Laying off the collectibles to fund them. What's your preference Kau or Kag or a bag of both???

It will depend on the spread - Tom Coughlin has said the silver spread will be tight - that being the case i fancy KAG's to start with.

i just spoke to Danish Khan at Kinesis, London. i asked about whether a decision had been made whether it would be possible to sell KAU/KAG in the run up to March 2019. If so i will be testing minting out, selling minted coins and then reinvesting in more minting before i go full throttle in March.

[welshdragon]

10 minutes ago, sixgun said:

It will depend on the spread - Tom Coughlin has said the silver spread will be tight - that being the case i fancy KAG's to start with.

i just spoke to Danish Khan at Kinesis, London. i asked about whether a decision had been made whether it would be possible to sell KAU/KAG in the run up to March 2019. If so i will be testing minting out, selling minted coins and then reinvesting in more minting before i go full throttle in March.

Same plan here. My plan is to start minting before the full launch, I'm just not clear on whether there's going to be a market (and at what depth) for selling the newly minted coins.

[Groundup]

Same as... I'd like to get the process of minting down to a tee as early as I can. 

I was going to wait for KVT kickbacks before starting to mint, but I think it make sense to get up to speed as quickly as possible.

[sixgun]

Yesterday Tom Coughlin told us that he and his dad have sunk their worldly lot into KVT's. Accepting this is true - this is something of a confidence booster for me.