Kinesis Gold and Silver currency

[sixgun]

1 minute ago, Roy said:

edit: they do this in Africa too

Kinesis is making big progress in Kenya and a number of other African nations. As you say Roy - Kinesis could be massive and of course sixgun was there at the beginning - ching ching.

[Roy]

I hope it takes off in developing countries. As for you, well...! 😄

[Roy]

Now...My wife just chipped in 😮

The reason 77% of Filipinos are unbanked is a fear of institutions like banks, a lack of education (illiteracy), and location. 

Can kinesis be 'off-grid' so to speak?

[sixgun]

3 minutes ago, Roy said:

Now...My wife just chipped in 😮

The reason 77% of Filipinos are unbanked is a fear of institutions like banks, a lack of education (illiteracy), and location. 

Can kinesis be 'off-grid' so to speak?

Kinesis will be working with the post office to set up the vaulting system in Indonesia. This originally started off b/c the post office is involved in a lot of money transfers. People will work overseas and then send money home with Western Union and Moneygram but they end up paying heavy commissions - so the idea was the post office and Kinesis would work together to create a Sharia compliant system which was based on gold and silver and was cheaper for the people. It has snowballed from there - the Indonesians want the gold and silver to be held in the country and be redeemable in the country - they are getting into this in a big way - it will be another currency running alongside the normal legal tender. There are other bit to this which i am not sure i can post at the moment which basically absolutely guarantee adoption.

[Roy]

If it's as easy as Western Union then it will be successful.

Agreed, WU charges are unfair but OFWs have no other choice til now.

https://cnnphilippines.com/business/2019/01/15/bsp-november-ofw-dollar-remittances.html

Edited June 30, 2019 by Roy

[sixgun]

More positive news from Indonesia
Kinesis, ABX and JFX Partner to create Sharia Gold Contracts in Indonesia, Asia’s first Sharia-compliant allocated physical bullion exchange.

Too much to put here but it shows how Kinesis is working with the Indonesians to remonetise gold and silver.

https://kinesis.money/en/company-news/creating-the-worlds-first-sharia-compliant-bullion-exchange/

Edited July 16, 2019 by sixgun

[sixgun]

Latest interview on TF Metals with Andrew Maguire and Tom Coughlin

https://static.tfmetalsreport.com/audio/2019-07/tf-metals-report-20190724-e1ae5c05.mp3

[sixgun]

This is from a webinar last Friday. The sound is pretty poor - the issue of doing webinars when the members of the team are in hotel rooms around the world. 

The main takeaway is no delays to the launch. There will be a hard wallet but no details given. Expanded on the extent of the Indonesian deals - this will be the template other countries - i can see this being rolled out for SE Asia, Africa, Middle East and South/Central America. Indonesia today - Malaysia tomorrow. 

Being the sort of mindset i am, words like Smart Cities, are Agenda 2030 - i will have to take my Kinesis loot and go to District 1 (Hunger Games).

 

[mr1030]

Looking forward to the go live date coming soon.  And very happy I was finally able to mint here in the U.S.

[Groundup]

42 minutes ago, mr1030 said:

Looking forward to the go live date coming soon.  And very happy I was finally able to mint here in the U.S.

Great stuff @mr1030

Not long now to seeing how where this leads.

[Silvergirl]

So it’s a crypto currency that isn’t a crypto currency and now it’s in health and travel and fitness and oh, we’re talking to hnw, billionaires about KVt sales,, even tho we said before we wouldn’t sell to them and .............blah blah.

And now we’re working now with governments...don’t people buy gold/silver because that’s exactly who they’re worried about?

And with all due respect who expects people that are “unbanked” to use a sophisticated system like this. Most people on here can’t get their heads around it! But these unbanked will all start using kvts and apps and health and .......blah blah

All I heard was noise.

Sceptical doesn’t begin to explain.

It started off as one thing And now it’s morphed into something else.....that apparantly ain’t crypto. Won’t they need a banking license then..........

why not just deliver what they said they would deliver....then add the bells and whistles.

Edited August 16, 2019 by Silvergirl

[Groundup]

Your rant isn't accurate on so many levels. 

But your entitled to be jealous of us who can see further than the end of our noses.

 

[sixgun]

10 hours ago, Silvergirl said:

So it’s a crypto currency that isn’t a crypto currency and now it’s in health and travel and fitness and oh, we’re talking to hnw, billionaires about KVt sales,, even tho we said before we wouldn’t sell to them and .............blah blah.

And now we’re working now with governments...don’t people buy gold/silver because that’s exactly who they’re worried about?

And with all due respect who expects people that are “unbanked” to use a sophisticated system like this. Most people on here can’t get their heads around it! But these unbanked will all start using kvts and apps and health and .......blah blah

All I heard was noise.

Sceptical doesn’t begin to explain.

It started off as one thing And now it’s morphed into something else.....that apparantly ain’t crypto. Won’t they need a banking license then..........

why not just deliver what they said they would deliver....then add the bells and whistles.

What do you think 'they' said they would deliver?

KVT's are a fund raising token - nothing to do with the working currency system. You mean KAU and KAG.

You have returned to the forum to comment on Kinesis - you came her in October to do the same. It will start in 2 weeks time. You could soon find out for yourself how it is turning out. If you aren't interested i wonder why you have come to slag Kinesis off with half truths.

Kinesis is building relationships with lots of companies, banks and governments. To be accepted as a parallel currency as it will be in Indonesia there has to be work with the authorities. If Kinesis is adopted by large corporation within their payroll system, as a option for payment, then it will be working with billionaires. i know there have been talks with central banks - i know there has been talks with banks. Kinesis will be working with banks - no need for a banking licence, the debit card side is covered - that is what Unified Signal and Contis is about for North America, the EU and UK. That is what working with PT POS (post office in Indonesia) is about - that is why Kinesis is building a vaulting facility with the Indonesian authorities - this will create the template which will be cloned out into SE Asia, Africa, the Middle East and South/Central America.

i spent a lot of words last time covering your questions - that is it for me so i suggest you join the Telegram group for Kinesis if you are interested.

[sixgun]

Hard wallet now available.

https://kinesis.money/en/company-news/kinesis-partners-with-coolbitx-to-deliver-hardware-storage-solution-for-kinesis-currencies/

[Groundup]

Love this idea of a hardware wallet to compliment existing system. 

[sixgun]

3 hours ago, Groundup said:

Love this idea of a hardware wallet to compliment existing system. 

There was concern expressed on the Ambassador's thread about kegloggers getting login details. This applies for many internet login's so it was a tad paranoid but the potential was there. Workarounds were proposed. Personally i have a drive i installed a Linux distro onto and it has only ever been used for wallet access/minting. i boot up onto this drive - access the webpages for wallet/minting and then that's it. That is ok for me but not widely practical so the hard wallet is a definite step forwards. i see the wallet is $99 with charger etc. Another expense but the wallet is priced in the range and can be used for other cryptos which will be part of the Kinesis currency ecosystem..

[sixgun]

The engines are clearly warming up for the start on 29th Augst 2019.

The number of KVT's sold was just over 80k and then this morning the sold number jumped to 158k as a number of multi million dollar sales went through. The project has now raised $158 million and is a top ten biggest ever ICO. The insurance for large gold holdings in the ABX is up to the satisfaction of the holders so large amounts of gold is available to the currency system. Not long to wait now.

Edited August 27, 2019 by sixgun

[sixgun]

Another 20K+ KVT's going through this morning on etherscan.io - not appearing on the kinesis.money website yet. So $180 millioon raised now. Plenty of fuel to grow the reach of the coins. It also tell me there are so decent sized partners putting their money where their mouths are and investing more than pocket change.

Correction - another 10k have been pushed through, so 30k today and counting...

There are 210k to go at so with 190k and counting sold that only leaves 20k left - we will be near a sellout by the end.

pps - more appearing - so i will do a tot up this afternoon when it has calmed down.

Edited August 28, 2019 by sixgun

[sixgun]

Launch day today - the masses are on Telegram waiting for the announcement - they say there will be a new look website today and the Exchange will kick off. 

About 1500 more KVT's issued today so probably there will be a little over 10k unsold KVT's of the 210k KVT's. A good deal of KAU and KAG's minted so there is just short of 6.25 tonnes of gold (more than the reserves of Ireland) and 11.25 tonnes of silver backing the present coins - this should ramp up significantly when the Exchange opens and minting steps up a few gears.

Edited September 9, 2019 by sixgun

[swAgger]

On 09/09/2019 at 19:03, sixgun said:

Launch day today - the masses are on Telegram waiting for the announcement - they say there will be a new look website today and the Exchange will kick off. 

About 1500 more KVT's issued today so probably there will be a little over 10k unsold KVT's of the 210k KVT's. A good deal of KAU and KAG's minted so there is just short of 6.25 tonnes of gold (more than the reserves of Ireland) and 11.25 tonnes of silver backing the present coins - this should ramp up significantly when the Exchange opens and minting steps up a few gears.

isn't it just under 61 Kilo's of gold minted at the moment? Soon to be way more of course.

[swAgger]

On 16/08/2019 at 05:12, Silvergirl said:

So it’s a crypto currency that isn’t a crypto currency and now it’s in health and travel and fitness and oh, we’re talking to hnw, billionaires about KVt sales,, even tho we said before we wouldn’t sell to them and .............blah blah.

And now we’re working now with governments...don’t people buy gold/silver because that’s exactly who they’re worried about?

And with all due respect who expects people that are “unbanked” to use a sophisticated system like this. Most people on here can’t get their heads around it! But these unbanked will all start using kvts and apps and health and .......blah blah

All I heard was noise.

Sceptical doesn’t begin to explain.

It started off as one thing And now it’s morphed into something else.....that apparantly ain’t crypto. Won’t they need a banking license then..........

why not just deliver what they said they would deliver....then add the bells and whistles.

oh wow. You think people who are unbanked as in the majority of Indonesia for one example, means they are unsophisticated? Please listen to this analysis of the people of Indonesia and you might begin to understand why Kinesis is being rolled out there as a perfect fit for their innovative and ultra-capable nation;

https://static.financialsense.com/audio/2019-09/financial-sense-20190905-gustely-22d00c2e90c.mp3

[sixgun]

6 hours ago, swAgger said:

isn't it just under 61 Kilo's of gold minted at the moment? Soon to be way more of course.

There are 62 000 KAU - this is 62 000 x 0.1kg = 6 200kg = 6.2 tonnes of gold. 

[swAgger]

1 hour ago, sixgun said:

There are 62 000 KAU - this is 62 000 x 0.1kg = 6 200kg = 6.2 tonnes of gold. 

No, i believe you are confusing the 62,000 Kau as being minted batches of 100 Kau (minimum mint size of 100 Kau = 100g).

It is 62,000 individual units of 1g Kau, so 62kg (O.062 Tonne)

[sixgun]

6 minutes ago, swAgger said:

No, i believe you are confusing the 62,000 Kau as being minted batches of 100 Kau (minimum mint size of 100 Kau = 100g).

It is 62,000 individual units of 1g Kau, so 62kg (O.062 Tonne)

Sorry you are absolutely correct - i keep doing this - i think in minting units which are 100g - my mistake. 

i don't know if you are on the Telegram thread - there is a lot of chatter on there - there is some KAU/KAG being minted - so some is being bought - a few KVT's being sold - some ETH changing hands. Generally very quite - there was a site login problem last night which got sorted. We have a stack of suggestions coming from the Ambassador's thread. The Community forum is now open to the public - a separate website set up over a year ago. There is some interesting bits and pieces there. https://kinesis.community/

Glad the start is slow and gradual - it will allow the teething problems to be sorted before the debit card is released and the roll out begins and there really is 6.2 tonnes.

Edited September 12, 2019 by sixgun

[swAgger]

35 minutes ago, sixgun said:

Glad the start is slow and gradual - it will allow the teething problems to be sorted before the debit card is released and the roll out begins and there really is 6.2 tonnes.

Oh absolutely agree, personally i am expecting it to pass that figure within several weeks.

Teething issues are normal on any new platform, you have to launch to identify and iron out. Slow and steady is good, i'm delighted with the whole platform and just feeling my way gently around it, for now.