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Gold-Backed Cryptos – A Monetary Revolution
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Thread: Gold-Backed Cryptos – A Monetary Revolution

  1. #1
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    Default Gold-Backed Cryptos – A Monetary Revolution

    8 Reasons A Huge Gold-Mania Is About To Begin

    No. 1: Basel III Moves Gold Closer to Officially Being Money Again
    No. 2: Central Banks Are Buying Record Amounts of Gold
    No. 3: Oil for Gold – China’s Golden Alternative
    No. 4: The Fed’s Dramatic Capitulation
    No. 5: Takeover Frenzy in the Gold Mining Industry
    No. 6: President Trump Is Pro-Gold
    No. 7: Socialism Is on the Rise
    No. 8: Gold-Backed Cryptos – A Monetary Revolution

    The last catalyst for gold is cryptocurrencies backed by gold.
    There are dozens of gold-backed cryptos sprouting up.

    Peter Grosskopf, the CEO of Sprott, recently called gold-backed cryptocurrencies “the most important thing to happen to the gold market in the last several decades.”
    Soon after, Sprott launched a gold-backed crypto it developed with its partners.
    When Sprott – a leader in the natural resources industry – makes a big move into the gold-backed crypto space, it’s a definitive sign of where things are headed.

    Gold-backed cryptos combine the best attributes of gold and cryptos. I can’t think of two other asset classes that have as many synergies. In other words, the whole is worth much more than the sum of the parts.
    With cryptos redeemable for gold, we can now instantly send anyone anywhere in the world small or large amounts of gold – reliably and without interference. It’s nothing short of a monetary revolution.

    Gold-backed cryptos are going to make using gold as money even more convenient for the average person and business. Anyone with a cell phone now can use gold in a way that was not possible before.
    This is another big reason why I think gold is coming back as money.


    https://www.zerohedge.com/news/2019-...ia-about-begin

  2. #2
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    Kinesis engages Contis Group to launch UK and European debit card for its digital gold and silver currencies

    London 4th June, 2019

    Today, Kinesis Money announces the initiation of its UK and EU debit card program with Contis Group, the award-winning platform as a service (PAAS) that provides end-to-end banking and payments solutions. Kinesis has selected Contis for its European and UK debit card solutions and has officially started developments, scheduled for release in Q4.

    The release of these EUR and GBP-denominated debit cards will cement Kinesis’ position in the market as a formidable global fintech player. The Kinesis debit card will allow Kinesis’ clients in the UK and Europe to easily and efficiently use their Kinesis currencies to make purchases anywhere that has a merchant facility, as well as withdraw funds via global ATM networks.

    Kinesis is an evolutionary monetary system using the real assets of gold and silver as the basis for digital currencies. These currencies provide a 1:1 allocation of physical bullion, with the transaction fees accumulated whenever the currencies are sent, spent or traded and then proportionately redistributed to Kinesis currency and token holders as a velocity-based yield. These yields grow as the user base grows and recur forever, creating a monthly income for users, against everyday transactions and holdings.

    The new debit card is to be powered through a partnership between Kinesis Money and Contis which enables customers to leverage their extensive partner network. Contis Financial Services Ltd is authorised by the Financial Conduct Authority.

    The Kinesis debit card is set to be integrated into the highly anticipated Kinesis Monetary System, scheduled to launch in Q3 2019, providing seamless spending and management of the Kinesis, blockchain-based, gold and silver-based currencies.


    http://forums.silverseek.com/showthr...873#post259873

  3. #3
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    Zionot, Squashkenazi
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    Exclamation the kabbal is still in charge so short silver over $16

    Quote Originally Posted by goldsilber View Post
    8 Reasons A Huge Gold-Mania Is About To Begin

    No. 1: Basel III Moves Gold Closer to Officially Being Money Again
    No. 2: Central Banks Are Buying Record Amounts of Gold
    No. 3: Oil for Gold – China’s Golden Alternative
    No. 4: The Fed’s Dramatic Capitulation
    No. 5: Takeover Frenzy in the Gold Mining Industry
    No. 6: President Trump Is Pro-Gold
    No. 7: Socialism Is on the Rise
    No. 8: Gold-Backed Cryptos – A Monetary Revolution

    The last catalyst for gold is cryptocurrencies backed by gold.
    There are dozens of gold-backed cryptos sprouting up.

    Peter Grosskopf, the CEO of Sprott, recently called gold-backed cryptocurrencies “the most important thing to happen to the gold market in the last several decades.”
    Soon after, Sprott launched a gold-backed crypto it developed with its partners.
    When Sprott – a leader in the natural resources industry – makes a big move into the gold-backed crypto space, it’s a definitive sign of where things are headed.

    Gold-backed cryptos combine the best attributes of gold and cryptos. I can’t think of two other asset classes that have as many synergies. In other words, the whole is worth much more than the sum of the parts.
    With cryptos redeemable for gold, we can now instantly send anyone anywhere in the world small or large amounts of gold – reliably and without interference. It’s nothing short of a monetary revolution.

    Gold-backed cryptos are going to make using gold as money even more convenient for the average person and business. Anyone with a cell phone now can use gold in a way that was not possible before.
    This is another big reason why I think gold is coming back as money.


    https://www.zerohedge.com/news/2019-...ia-about-begin
    Excellent!

    Quote Originally Posted by goldsilber View Post
    Kinesis engages Contis Group to launch UK and European debit card for its digital gold and silver currencies

    London 4th June, 2019

    Today, Kinesis Money announces the initiation of its UK and EU debit card program with Contis Group, the award-winning platform as a service (PAAS) that provides end-to-end banking and payments solutions. Kinesis has selected Contis for its European and UK debit card solutions and has officially started developments, scheduled for release in Q4.

    The release of these EUR and GBP-denominated debit cards will cement Kinesis’ position in the market as a formidable global fintech player. The Kinesis debit card will allow Kinesis’ clients in the UK and Europe to easily and efficiently use their Kinesis currencies to make purchases anywhere that has a merchant facility, as well as withdraw funds via global ATM networks.

    Kinesis is an evolutionary monetary system using the real assets of gold and silver as the basis for digital currencies. These currencies provide a 1:1 allocation of physical bullion, with the transaction fees accumulated whenever the currencies are sent, spent or traded and then proportionately redistributed to Kinesis currency and token holders as a velocity-based yield. These yields grow as the user base grows and recur forever, creating a monthly income for users, against everyday transactions and holdings.

    The new debit card is to be powered through a partnership between Kinesis Money and Contis which enables customers to leverage their extensive partner network. Contis Financial Services Ltd is authorised by the Financial Conduct Authority.

    The Kinesis debit card is set to be integrated into the highly anticipated Kinesis Monetary System, scheduled to launch in Q3 2019, providing seamless spending and management of the Kinesis, blockchain-based, gold and silver-based currencies.


    http://forums.silverseek.com/showthr...873#post259873

    More excellence! What is going on?
    "I foresee little future in 'the price of silver', I see a huge future for 'the price in silver'." - heartbone
    "The truth is called hate by those who hate the truth." - K

  4. #4
    Join Date
    Feb 2009
    Posts
    450

    Default

    SHB, admit it
    you are just envious because my threads are getting more clicks than yours

  5. #5
    Join Date
    Feb 2009
    Posts
    450

    Default

    Due Diligence on Gold-Backed Stablecoins

    1. Can the cryptocurrency be converted into physical gold on demand? How easy is the process?

    2. Does the company disclose how it stores the gold?

    3. Who is storing the gold that backs the cryptocurrency? Is that company trustworthy?

    4. Is the gold insured?

    5. Does the company have a well-known and reputable auditor? If the company is not audited, then it can easily issue more tokens than gold, thereby creating fractional reserves.

    6. What happens if the company goes bankrupt? Is it a limited liability company that could leave investors empty-handed?

    7. What blockchain are the gold tokens built on? Is that blockchain secure?

    8. Do you know how to store the private key to the wallet that controls the gold tokens? What happens if you lose the key? What happens if the key is stolen?

    9. Gold-backed cryptocurrencies are similar to ETFs, which may make them subject to securities laws in Europe and the US. Is the company selling the cryptocurrency regulated? Does it store the gold in a country that has approved their token?

    10. Where can the gold-backed token be traded? Gold ETFs are traded on exchanges, but there are currently no cryptocurrency exchanges that are licensed to trade tokenized ETFs.

    11. How much liquidity does the gold-backed cryptocurrency have? Can you really close a position in case of a liquidity trap? The largest gold-backed cryptocurrency, Digix Gold Token, has a small daily trading volume of USD 243,000 over the past year, and USD 27,000 over the past month.

    12. What is the total expense ratio for the tokenized shares of the gold fund? The most famous gold ETF, SPDR Gold Shares, has a management expense ratio (total fund costs / total fund assets) of only 0.40%.

    13. What is the business model of the coin? How do the people who created the coin make money? If there is not a clear way that they are profiting, then be suspicious of indirect costs or high risk.

    https://ingoldwetrust.report/wp-cont...on-english.pdf
    p251

  6. #6
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    Dec 2008
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    Zionot, Squashkenazi
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    Exclamation I feel that critical (attention) mass has been reached. Next jump... to the moon.

    Quote Originally Posted by goldsilber View Post
    SHB, admit it
    you are just envious because my threads are getting more clicks than yours
    This isn't Facephone or Twatter, so unless you are joking, that's the last time that I'll compliment the quality of your posts.
    I haven't compared our post counts, so I'll take your word for it.
    Congratulations on being popular.

    While I have your attention....


    THE DEBT BUBBLE IS POPPING NOW: The Last Recessionary Shoe Has Fallen
    "I foresee little future in 'the price of silver', I see a huge future for 'the price in silver'." - heartbone
    "The truth is called hate by those who hate the truth." - K

  7. #7
    Join Date
    Feb 2009
    Posts
    450

    Default

    Of course it was a joke SHB!
    You can relax with me!
    I'm not valerb!


    SHB, this is a 3-guys-forum ... with massive infrastructure issues on top!


    Under the circumstances, I wouldn't take myself too seriously here.
    Let's levitate the situation

    (Just waiting for valerb to feed me again with other succulent news about gold-backed cryptos...)

  8. #8
    Join Date
    Dec 2008
    Location
    Zionot, Squashkenazi
    Posts
    11,544

    Wink One day closer to lift-off. 🚀

    Quote Originally Posted by goldsilber View Post
    Of course it was a joke SHB!
    You can relax with me!
    I'm not valerb!


    SHB, this is a 3-guys-forum ... with massive infrastructure issues on top!


    Under the circumstances, I wouldn't take myself too seriously here.
    Let's levitate the situation

    (Just waiting for valerb to feed me again with other succulent news about gold-backed cryptos...)
    I hope the place becomes popular again.
    Of course it would help if the bugs were removed from the browser interface and data.
    Perhaps a site reboot will come, and when it does I probably won't like it, because I don't do mobile computing..
    "I foresee little future in 'the price of silver', I see a huge future for 'the price in silver'." - heartbone
    "The truth is called hate by those who hate the truth." - K

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