Groundup

A good bit of good news in the pipeline with respect to Indonesia and Kinesis.
JB:admin
Hi community,

We just wanted to update you all ahead of the weekend on a few key internal updates for this week as promised.

Thomas Coughlin and Advisory Board member Sergio Fernandez De Cordova spoke on the panel at the United Nations Blockchain for Impact 2019 Global Summit earlier this week. The theme was designed to deliver insightful and positive social and environmental impact around the world. Our focus is designed to encourage more diversity, education, and government engagement and support in the blockchain sector.

A link to the recording of the talk can be found here: http://webtv.un.org/watch/part-2-blockchain-for-impact-2019-global-summit-frontier-technologies-powering-blockchain/6044587223001/?term=

We now have in our possession several MOUs, heads of agreements and master agreements with several entities in Indonesia.

We are currently putting together a formal announcement, but to summarise what is to come, we have agreements with PT POS, Nahdlatul Ulama (100+ million-member religious organization), technology providers, the national commodities exchange, state-owned clearing corporation and a joint venture with a vaulting provider.

This all comes together to form a solid proposition for the country of Indonesia, at both a government and commercial level when it comes to the Kinesis offering, for a Sharia compliant gold currency ready for mass adoption.

To be expected in the announcement we will be covering off in a lot of detail a formal strategy that will start to show how Kinesis will work at a macro level.

In good faith we wanted to keep you informed ahead of the announcement which will made imminently, as soon as it’s ready.

We hope you have a great weekend,
The Blockchain Commission for Sustainable Development is hosting its second annual Blockchain for Impact Global Summit at the United Nations   Part 2: Blockchain for Impact 2019 Global Summit: Frontier Technologies Powering Blockchain    

Go to 30 minutes on the video
http://webtv.un.org/watch/part-2-blockchain-for-impact-2019-global-summit-frontier-technologies-powering-blockchain/6044587223001/?term=
i don't agree with a lot of what the UN is about but it is impressive Kinesis was invited and spoke at the UN.

Kinesis Money announces the initiation of its UK and EU debit card program with Contis Group
https://www.ccn.com/kinesis-engages-contis-group-to-launch-uk-and-european-debit-card-for-its-digital-gold-and-silver-currencies

Kinesis is proud to announce that they've just reached another milestone. There has now been minted USD$2m worth of KAU and KAG.
The minting of Kinesis coins started a few weeks ago - only those with KVT's have access to minting until the end of June and until then it will not be possible to trade or use these coins - so it is cost free vaulted gold and silver in 'cold storage' until then. 

Well i minted 100 KAU and then another 100 KAU yesterday on the KCX (Kinesis Currency Exchange).
i needed my Kinesis wallet and minting account open - i accessed them through the Kinesis.money home page - there is a log in at the top.
i had transferred some USD through a Transferwise USD bank account and had some USD transferred from my Allocated Bullion Exchange accounts. It took a couple of days to arrive and appear in my KCX account.
i was watching the charts when i bought - not the charts on the KCX as they are pretty useless at the moment. We got a fall in price yesterday - there was prime US eco-Fed data and speeches - so you would expect a dip. It was pretty easy to do the trade - i had to transfer some copy and paste digits between the accounts the first time - it is all in the how to mint Kinesis video. The second time i just pushed the buy and confirm button. There appeared to be a $8/oz premium over spot in the 100g gold bars which is what i was actually buying. Once i confirmed the KAU appeared in my wallet but one time it needed me to refresh the browser. i will have to see what the KAU's sell for when i can sell them - i expect at least that $8 premium to carry through - if i can do the process cost-free i will be happy. i will be minting for longer term income not profit on the individual trades.
Was it easy? - i would say watch the Kinesis video on minting - it is easy then and easy thereafter.
Those KAU are in my account - i cannot spend them or sell them yet. When i do i will be entitled to 15% of the yield these coins will generate as they move around the system. It is not a hill of beans - for me you have to keep minting on a regular basis to build up a decent income stream.

So i have just opened a minting account
https://kinesis.money/en/kcx-sign-up-form/
i created a password - your username for this is the email address - it took me a few minutes to figure this out.
Also the password must have upper and lower case plus numbers/symbols - mixed cases are not need for the password of the wallet.
i have just submitted a request to mint 100KAU with my 100g bar of gold in Dubai. The ABX team will come back to me in a day or two it says. Next time i will be buying gold through the Kinesis exchange so it should all be pretty instant.

That's the spirit son one more posative question answered.
Keep them coming.👍.        I trust you checked the kinesis telegram site out.There are many professional people on there, from all professions faithfully  scrutinizing kinesis.money. 

That's the spirit son one more posative question answered.
Keep them coming.👍.        I trust you checked the kinesis telegram site out.There are many professional people on there, from all professions faithfully  scrutinizing kinesis.money. 

I would agree if the aim was just to go after the tether market.  What I find interesting is that their system can appeal to a wide variety of markets.  Stable coin that pays yield for crypto traders.  Fee-less bullion storage that earns yield for bullion banks, retirement funds, hedge funds or anyone that currently vaults their bullion for a monthly fee.  Banking via mobile for those without convenient banking in their area.  Preservation of buying power in those countries that have run away inflation or otherwise crappy currency.   The convertability via the debit card to local currency at point of sale makes it easy to use.  There are many different use cases that it could appeal to people.  Just like any new system, wide spread adoption would take time, but even if their velocity is a lot less then projected, the % yearly return on KVT purchase price should be good.  One of the Ambassador's on the community channel programmed a spread sheet to calculate KVT returns based on any velocity  % value you want to enter.  Even much lower velocity numbers gives nice returns.  The system as a whole can be hard to take in and comprehend in just one sitting.  I had to go back and look at the blue print and follow the questions that were raised in the Telegram channel for a while before I was able to appreciate just how big a system these guys were creating and the potential it has.

Kinesis and Tether were compared b/c Tether is a good sized crypto which is backed (by the USD). Tether is being used as a means of exchange currency rather than a speculate investment like BTC. So a reasonable comparative would be Tether rather than BTC. The KAU and KAG coins are intended as everyday money (like Tether). Compare like with like as much as you can.
The KVT is not the coins. In 6 months time say, you could be minting, selling, spending, sending and trading - whatever you like with the Kinesis coins and never have even heard of a KVT. Accepted that is unlikely but you won't need to hold KVT's or know what they are.
Neither of us know how Tether raised the cash to kick start Tether but that doesn't stop us using it. i agree if KVT's were a lot cheaper to buy, then more people would buy and it would in the beginning encourage more people to use the coins. This is a decision Kinesis has made to keep launch costs down.
You could sell your KAU's on the exchange and your gold is sold with the click of a mouse. Do a cash transfer and you are out. 
Your house isn't a secure vault. There are no armchairs for rings to go down the back of. The audit process is part of the logging in and out of gold/silver from the vaults. This is one of those question about a theoretically possible situation that doesn't happen. It would imply that KAU's were redeemed - say 20kg of gold and a larger amount was handed back. This is an issue with a bank - i come to withdraw $20 000 and they mistakenly give me $25 000. It never happened to me. Does it ever happen? it could do but gold bars more unlikely.
Kinesis is not for everyone. Not having the resources is not the same as being put off by complexity. Using a crypto wallet is a bit daunting before you start. Using an ATM machine is a bit daunting in the beginning. Kinesis can work with other currencies. If you don't want to use Kinesis that's fine but it doesn't stop me using my Kinesis to pay you in AUD.
Yes dollar prices of gold have moved quite a bit over the decades. It is not like crypto which is volatile. And gold is at all time highs against the AUD. All fiat is guaranteed to go to zero. i would prefer my value in precious metal. It can pretty much be guaranteed not to go to zero. The other currencies fluctuate, the charts will show you how much. The main fluctuation is they all move down. They are all going to zero in the end.
This is something i have not taken any interest in. i will be spending Kinesis coins, selling those i get from the KVT and then using the USD to buy more gold/silver to mint. If the cryptocurrency market livens up i might get involved with BTC/ETH. Generally i will be staying out of fiat as much as reasonable. Kinesis will be holding some actual physical cash in some fiat currencies. i am not sure why but they will have their reasons.
The point was, any system can be attacked. i think you believe Kinesis is a threat to dollar hegemony and b/c of that it has a big target on its back. Well for Kinesis to be a threat to USD hegemony then you are saying you believe it will be a massive success. Perhaps you should buy a KVT. 😎

I don't know what Tether did. Why does it matter what the 'Tether Velocity Token' was sold for, if it existed? The reason for the high price of the KVT is to cut  expenses. Doing Know Your Customer checks costs the same however much an investor puts in, so Kinesis has cut out those unable or unwilling to put $1000 into the system.
For small amounts of Kinesis you don't get to choose, but at the same time it may depend on how you got to have Kinesis coins. i bought 100g of gold at the Dubai hub. i will mint 100 KAU coins using that. Once i sell them, they are sold into the system. For me if you have enough cash to buy 100g gold and you want coins, then you should buy the gold in one of the vaults and mint with that.
Well the issue of a large discrepancy applies to anything. What if you buy SLV shares and it turns out there isn't any silver, what if your safe deposit in the bank is magically emptied and so on. To imagine this large discrepancy occurs due to a fault on the Kinesis side implies someone from Kinesis went in and took a large amount of gold out - stole it. So the question would be, is that possible? i cannot see Brinks allowing that in a hurry but stuff happens. Can a bank clerk go into the bank vault and steal $1 million? Are there security systems in place to prevent this? i would expect so, as i say i cannot see Brinks allowing this to happen - it is their reputation on the line.
As i said it may not be for everyone. If this employee is living hand to mouth due to you paying them subsistence wages then Kinesis isn't for them. Why would you impose payment with KAU/KAG? You offer this option - maybe you offer to pay 10%, 5% or whatever and then employees can save in gold coins which they can spend in the future if they decide. You get to mint some coins and they get to save in gold - but not have it locked up and difficult to sell if they need.
The sender pays the fee, not those receiving the coins so employees don't lose 0.45% straight up.
You have decided it is dead in the water - so that's it for you but as i said if you are an employer and you are seriously considering this, you should contact Kinesis.
info@kinesis.money
Why as the State Post Office of a Muslim country would i want to use Tether over a Sharia compliant gold and silver system? From my impression Indonesia is not pro-US - they will embrace a system using God's money.
The point of adding this 'extra' layer of complexity is you can get your value into gold and silver and out of the fiat system. If you interact with someone who does not take KAU/KAG, then you can convert the gold/silver on the spot through your debit card. It is like, why get paid and hold in CHF (Swiss franc) if you mainly spend in USD? Why bother with extra complexity? Because i would like to hold my value in a stable currency up to the point i spend it. 
If you are spending all your money instantly then perhaps Kinesis is not for you. Personally i will be getting income from KVT's. Say i get 534 KAU in a particular month - just a made up number. i can sell 500 KAU and then buy 500g of gold which i then use to mint more coins. The remaining 34 KAU is 76 short of the necessary number to mint, but i can put my day-to-day money in to make the 34KAU up to enough to buy another 100g of and then mint with that. i can keep cycling round, minting until i need to spend those KAU on bills. This way i use my cash which might be sitting in the bank making nothing, to mint coins which i will get a 'Royalty' from. Perhaps i can mint a few times before i need this cash. It does mean you need to a certain amount of resources but if you have those, use them to your advantage and not let the banks use your value for their advantage. Kinesis may not suit everyone but i am not concerned about everyone.
Gold took 8 years to move from $400 to $1800.
You don't need to think gold and silver are going to the Moon to use Kinesis. Personally i hope precious metals stay low for as long as possible. You will find many here want precious metals to stay low for as long as possible. If prices stay lower, i will be able to mint more coins and so generate a very large number and create a big income stream for the future.
Tether claims to be backed by USD and will always be worth $1 - so it will always be going down in value due to inflation. Tether has failed to provide the audit to substantiate the financial reserves to prove it is fully backed. i would not be surprised if Tether is not fully backed - that the cash, what there is, is elsewhere and tied up. i do not know but i expect there are many layers of third party risk in Tether. The Feds are investigating regarding its use to manipulate BTC. 
Tether is very stable compared to BTC and LTC and so on - the latter are way too volatile to use as an everyday currency, at least at the moment they are. So Tether then looks a good choice for an everyday crypto. It is the USD made crypto. What you are doing however is buying into the current dollar paradigm. If you are concerned about fiat currency down the road, Tether is not the place to be.
The system primarily works on the blockchain, so if Kinesis is going to be attacked then why not all blockchain? Any system can be attacked. You should withdraw all your cash and keep it under the mattress but then your house might burn down or be burgled. i would be more concerned about a bail in.

Today's webinar
 

Yes I believe this to be true
Any unsold KVT's from the current public sale would be locked up for 1 year. 
If these are then offered after the lockup period, they would be at market prices.
Those market prices could be substantially higher than the current offer price of $1,000.
My thoughts are that the yields on any unsold KVT's, plus the reserve fund KVT's will fall through to Kinesis to fund future expansion.
This would certainly bode well for funding of the project after May.
KVT's will have a market price driven by the developing yield track record and expectations of future yield (rate of growth should factor into this).
It would be cumbersome to be selling a KVT with accumulated yields at a different price to those that initial buyers might be already trading (selling) in the secondary market.
Thoughts from kinesis telegram member.

Yes I believe this to be true
Any unsold KVT's from the current public sale would be locked up for 1 year. 
If these are then offered after the lockup period, they would be at market prices.
Those market prices could be substantially higher than the current offer price of $1,000.
My thoughts are that the yields on any unsold KVT's, plus the reserve fund KVT's will fall through to Kinesis to fund future expansion.
This would certainly bode well for funding of the project after May.
KVT's will have a market price driven by the developing yield track record and expectations of future yield (rate of growth should factor into this).
It would be cumbersome to be selling a KVT with accumulated yields at a different price to those that initial buyers might be already trading (selling) in the secondary market.
Thoughts from kinesis telegram member.

A few years ago I read the book the richest man in Babylon. One of the many concepts in this book was to make your gold make... "more gold"  
I believe kinesis forefills and addresses this aspect along with other benefits. 

Some interesting thoughts on gold backed cryptos
Gold-Backed Cryptos: Doug Casey and Rick Rule Talk Potential of Digital Currency
January 04, 2019
https://www.sprottmedia.com/gold-backed-cryptos/

I think you done the correct thing because you were invested in something you didnt understand. 
Selling a long term investment on current thinking doesnt make sense to me. If you can be swayed with current world situations it was never a long term investment i dont think.

LISA.

As for people telling me I should have sold here, maybe, but I don't regret not doing so. Extra stress and delay for a few hundred quid is not worth it, for me anyway.

@sixgun Yes, you are right re sterling, but it comes to the same thing - Brexit is going to be resolved one way or another (either we get a deal or we don't leave), and that can only have a negative impact on the price of gold.

This is an important deal as the proposal ties up Kinesis with MBAex, the largest blockchain assets trading platform in Southeast Asia with over 1.3 million users.
https://finance.yahoo.com/news/mbaex-partnership-amplifies-global-access-080000015.html

Also sounds like they will promote Kcoins as a better alternative stable coin to their crypto customers.  If they can convert a decent percentage to hold in kcoins rather then tether, it would be a real boost to Kinesis velocity.

We’re excited to announce our latest MOU with MBAex, a cryptocurrency-trading platform which utilizes blockchain technology to manage digital currency transactions.

This relationship opens up the Kinesis KVT and digital currencies to a large pool of new participants, amplifying our access to global markets and showing the continuing interest in and adoption of our currencies.

MBAex is one of the top 50 crypto exchanges in the world, in terms of daily traded volume. 
 
Kinesis has created an evolutionary monetary system that uses real gold and silver as the basis for two new digital currencies, even allowing for the physical gold to be redeemed in locations including Singapore and Hong Kong.
  LEARN MORE   “We see the big potential of the Kinesis currencies, and the KVT gives our traders the opportunity to participate in the success of these.” 
       Sebastian-Ionut Diaconu, CEO at MBAex

With one of the most successful ITOs of 2018, Kinesis has sold over 55K tokens to date with the Kinesis Velocity Token sale.

To read the full article, click the button below:  
READ MORE For any sales related enquiries, please contact sales@kinesis.money
For everything else, please contact us via info@kinesis.money      
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Kinesis Money and Allocated Bullion Exchange Explore Creating a Joint Commercial Blockchain Venture with Jakarta Futures Exchange in Indonesia
https://www.benzinga.com/pressreleases/18/11/r12681843/kinesis-money-and-allocated-bullion-exchange-explore-creating-a-joint-
Jakarta Futures Exchange (JFX), the leading futures and derivatives exchange group in Indonesia, have announced an expanded Memorandum of Understanding (MOU) with Kinesis Money and Allocated Bullion Exchange (ABX). The partnership will seek to develop an Indonesian based and regulated blockchain exchange using Kinesis technology.
i see the price of metals below the cost of mining. The paper market is killing the mining industry - i suspect the cabal want to kill it and then buy it at pennies on the dollar. i see the actions of Kinesis changing that next year.

As was mentioned in the Ambassadors' webinar, Kinesis is developing strong contacts in Dubai, including the Royal families. These contacts will facilitate the adoption of Kinesis in the region. The ABX already vaults precious metal in Dubai which is one of its most active precious metal hubs. Kinesis is Shari compliant. Now Kinesis has another knowledgeable  partner on board in the shape of Tariq Al Habtoor of the Al Habtoor Group which is a significant coup.
https://medium.com/@kinesis/kinesis-expands-the-advisory-team-in-the-united-arab-emirates-with-tariq-al-habtoor-3607f5dffff4