Kinesis Gold and Silver currency

[mr1030]

Agree.  Now that the faq was issued that detailed the method to get USD from the exchange account back to the mint account, I'm going to sell my first batch of KAU and go for mint cycle 2.  I've been taking it slow with learning the new system.

[dicker]

I reveived this from Kinesis a few minutes ago.

Does it really take this long to transfer physical assets......?

I would be interested to know what legal  considerations there are.... Surely a well planned investment is just a tick in the box post all of the investment decisions?

Best Dicker

 

 

 

We are excited to announce that those looking to mint, and take advantage of the Initial Minting Offer (IMO) bonus, now have until the 20th December 2019 23:59 GMT to do so. 

This decision comes as we allow further time for several institutional clients to complete their deposits.

As always, when moving large quantities of precious metals, there are legal and logistical considerations that need to be taken into account. However, this extension benefits commercial partners and new minters alike.

[sixgun]

i have been remiss in not up dating this thread especially when quite a lot has been going on.

There is an interesting video series to look at and learn about the Kinesis money system, with a little test after each video.

[Roy]

Any updates @sixgun?

 

[sixgun]

i was only thinking about this thread last night - you must have picked up my thought waves in the ether.

The web app came out last year which enables people to buy and sell the coins KAU and KAG. You can also buy sell KVT's through the 'KMS' platform. Due to the delays in launch the web app had to come out and it wasn't fully debugged. We hadn't been given the opportunity to test it out before it went fully public. Some of the failings have been rectified but it could be better. At the moment a group of us are working on the beta 1.0 version of a mobile app.
There is a long list of bugs and suggestions we have made - we are working closely with the coders. It is a lot better environment than before with good communication going both ways. When the KMS app v 1.0 is debugged it will move to v 2.0 and a wider group of people on the Kinesis Telegram forum will be recruited. When this larger group is through we should have a solid platform.

This month the Indonesian post office project kicks off. There is an agreement between the Malaysian post office for Indonesian workers in Malaysia to buy KAU and send them back home and their family can withdraw the cash at their local post office. There is $1 billion a month involved in this process. Kinesis is likely to capture much of this b/c it will be cheaper and more convenient for workers and their families. There will also be a compulsory savings scheme for PT POS (Indonesian post office) workers which involves KAU. This will eventually spread nationally so everyone must save at least 1g of gold a year in KAU. We have been told that over 2020 all the post offices in the ASEAN countries are coming on board. The Indonesian post office is very keen on this link up and is driving it forwards. 

We are expecting the US debit card in the next few months - the EU/UK cards still need FSA approval so won't be as soon. 
XcelTrip - a travel company has recently started selling holidays with an option to pay in Kinesis coins. i know some people who have done just that. 

There is a hard wallet CoolBitX which will take the Kinesis coins now and it will shortly be available in a Kinesis branded form.

There are a number of other deals waiting in the wings but really things depend on getting the mobile app right - then the deals can be rolled out - without a bullet proof app the progress isn't going to come. So we are working with the coders to get it right.

 

Edited January 5, 2020 by sixgun

[sovereignsteve]

Haven't heard any mention of this for a while. Did it get off the ground OK and how is it doing?

[sixgun]

21 minutes ago, sovereignsteve said:

Haven't heard any mention of this for a while. Did it get off the ground OK and how is it doing?

i posted some stuff in the previous post. There is a lot of work going on between a small cohort of investors/users and the developers - we just got the first mobile app revision last night and we are going through the fixes and putting our findings back to the coders. Personally i think it will be longer rather than shorter to get to a solid platform but we will have to see. 

[sovereignsteve]

29 minutes ago, sixgun said:

i posted some stuff in the previous post

sorry, so you did. I didn't see it and have no idea why it hasn't appeared in my "unread" list.

thanks

[Wileyfox]

Is this the best place to discuss Kinesis on the Silver Forum? @sixgun

[sixgun]

6 minutes ago, Wileyfox said:

Is this the best place to discuss Kinesis on the Silver Forum? @sixgun

i may be picking up the baton here in the coming months - at the moment i would recommend going to the telegram thread Kinesis has. 

https://t.me/kinesismoney

Edited April 7, 2021 by sixgun

[Wileyfox]

Thanks @sixgun. I'm on the telegram group and find it useful though it is easy for information to get lost.

 

I have a bit of time off this week and wanted to post a train of thought that came to me in thinking about Kinesis from an investment point of view. I am more used to investing in mining stocks and so I came up with an analogy to describe Kinesis in terms of a mine.

• In this case I think of Kinesis AG the company as a mining company.
• The commodity that they're mining is transactions.
• Their mine that is about to go into production is the Kinesis Monetary System (KMS).
• The mining tools are the KAU and KAG. This equipment is fully backed digitised gold and silver that is made/minted from wholesale gold and silver and attracts transactions.
• The miners are the market makers. They are getting paid for using their tools (KAU/KAG) to mine for transactions.
• The minters turn wholesale gold and silver into KAU and KAG. They are the mining equipment manufacturers. 
• The KAU and KAG holders are the mining equipment suppliers.
• The KVT holders are the owners of the royalty on the mine.
• The fees are revenues received by the company for supplying the commodity which in this case is transactions/liquidity.
• The different yields act as payments for services rendered by the various participants.  

I could go on e.g. the exchange spread is the miners' wages etc. Anyway I wanted to share this analogy here before it went out of my head, hopefully it can be useful to someone.

 

As for me, I bought a KVT last week. I'm going to wait and see how it goes and I plan to use Kinesis for daily spending once GBP is supported. I'll likely use it in a similar way to which I use Monzo now.

[Martlet]

45 minutes ago, Wileyfox said:

Thanks @sixgun. I'm on the telegram group and find it useful though it is easy for information to get lost.

 

I have a bit of time off this week and wanted to post a train of thought that came to me in thinking about Kinesis from an investment point of view. I am more used to investing in mining stocks and so I came up with an analogy to describe Kinesis in terms of a mine.

Would be better to think of it as a private bank.  People invest in the bank providing service (KVT), while them and other hold some assets on deposit (KAU, KAG).  People who've deposited spend some of their money incurring fees, that goes back to the depositors and investors.  Its recycling the depositors own money, with 0.45% inefficiency.  Its competing in a tough market, where so many card services offer discounts rather than fees to the card holder. 

[sixgun]

A video posted yesterday - Kinesis has moved forward and it is about time i brought things up to date.

 

[Mcgrimes]

Anybody want to send me a referral link?

[sixgun]

 

[Tom67]

On 04/02/2019 at 08:28, passiveaggressive said:

@sixgun Ok, so Kinesis has my attention. It's highly speculative but as a concept ticks all the right boxes. I've read the white paper and blueprint.

I'm really on the fence but starting to cool. Here's why...

1. Slow KVT sales (will speed up towards the end but doesn't bode well at the minute). As another punter or two suggested that if they ACTUALLY had big backers they should have taken them (at least to some degree to get it kick started). At this minute To sell the remainder they need to sell on average 3642 KVT's a day. Today was 0. Last 3 or 4 days was about 47 (from memory)

2. It's shockingly complicated. I'm reasonably analytical but this is next level. Sure it's a whole monetary system, i get it, but...

3. It's like a return to the dot com days. Too many acronyms and corporate wankery talk makes me switch off. I guess you gotta play the game though...

4.By far and away the biggest use of token $ is Strategic Investment. What is that?

5. If it sounds too good to be true... (return on KVT's and yes, I know it's based on Tether velocity but those are HUGE returns)

6. Somebody else holding my PM's is not the best idea. Is it insured against say misuse by Kinesis, theft? Do we see a Certificate of Currency for e.g. $1b of stock in each vault (that's just year1!)?

8. Pay employees? I think they would need a Kinesis account? Not enough detail given. My guys just want to see money appear in THEIR bank account. Yes, it's a better system overall for the good of humanity I know, I know, but when you live pay to pay you don't care. If I can pay in KAU and it ends up as AUD in THEIR bank account... now you're talking!

9. I haven't yet seen the compelling case spelled out why Kinesis is a competitive value proposition in the transferal of currency compared to traditional forms i.e. western union, swift, credit card etc AS FAR AS THE AVERAGE PUNTER IS CONCERNED. i.e. cost and convenience (simplicity).  Did I miss it?

10. Sure, the USD as the reserve currency is on it's way out, everyone knows it but they will want to draw it out as long as possible. Sovereign states developing their own digital solutions won't like competition either. Maybe not the IMF either. I don't know how it works but a concerted cyber attack would take Kinesis down? This has not been discussed at all.

I hope you can dispel my concerns and bring me into the fold!

Thanks.

 

You were correct passiveagressive. Here we are almost 5 years later and instead of receiving the hundreds or thousands of dollars per month Kinesis promised KVT investors, they pay out a few cents per month in a desperate attempt to keep the whole thing from collapsing and so they can be technically correct when they say "we pay out KVT yields".

It's incredible that this sham is still alive.

The yields Jim Forsythe was touting in the attached were 7 cents per month.

[dicker]

I have long watched Kinesis but have not been tempted.

They are still pumping out their “Live from the vault” podcasts but I have not listened for a long time.  

Has anyone here invested / used them?

[sixgun]

On 22/12/2023 at 18:45, dicker said:

I have long watched Kinesis but have not been tempted.

They are still pumping out their “Live from the vault” podcasts but I have not listened for a long time.  

Has anyone here invested / used them?

Live from the Vault (LFTV) is Andrew Maguire + / - a guest. If you didn't notice the name of the YT channel or that he might be wearing a top with a Kinesis logo on, you wouldn't know it is from Kinesis.

Yes i have been involved with Kinesis since the beginning - since before the beginning. i have bought and sold KAU and KAG as well a BTC on the Exchange and minted both KAU and KAG.
i have sent and received KAU / KAG / KVT's. I have deposited USD and GBP and withdrawn USD and GBP.

i have never taken delivery of any physical but i do know people who have.

i have received yields from my KAU / KAG / KVT deposited on the Exchange. 

i haven't bothered to get a virtual debit card and as i have a UK registered address there isn't a physical debit card available yet. Those with EU registered address have a virtual bank account to deposit GBP and EUR. i am waiting from one for the UK which will make depositing and moving fiat around a lot easier. 

There have been plenty of problems with the fiat banking interface - this is not Kinesis but how the Fed is making life difficult for what they deem to be 'crypto exchanges'. There have also been issues b/c it deals in gold and silver. You may have seen videos from coin dealers in the US who after years of being with a bank have had their accounts pulled. I am aware that these banking issues are not unique to the US - i am aware through my contacts these issues have been felt by at least one UK bullion dealer and it sounded like more from the words used. 

Kinesis is in a partnership with the Indonesian government / post office. There have been lots of delays but things have recently been officially launched by the Indonesian vice president. They have their own mobile app for Indonesians to use and i can see order flow appearing from Indonesia in the Exchange. In spring 2024 it goes nationwide to the general public. NU an Indonesian muslin organisation with 95 million members also comes on board. i have been told a couple more big projects are due to launch in Q1 2024 and more in Q2. So crossed fingers, 2024 is the year things (finally) blast off. i am aware of things happening in Africa and Latin America.

There should be a 'Vaultside Chat' in the New Year on LFTV so more may be made public. i am not at liberty to say much more than this but things are now looking more promising than they ever have before.

[JohnA1]

I'm still on the fence on this one.

Of course the parasites are throwing obstacles at every opportunity - after all it deals with honest money which is anathema to them.

I don't find it surprising that a country like Indonesia is at the front

Usury in ancient times was an abhorent sin.

ALL religions were treating usury for what it is - it's just that one religion allowed it to be practiced for members of *other* religions. So they became the de-facto bankers (yet not allowed to do the same for their own people).

Now usury has become the frikin norm, they even give "credit" to teenagers, encouraging them to become debt slaves for life 🙄

[Groundup]

For me Kinesis representes a diversification of accessibility of my assets. yes it's not fully implemented yet, but I believe it will be if/when needed. The yields are low but going in the wright direction. 

Edited December 24, 2023 by Groundup
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[JohnA1]

[Bigmarc]

1 hour ago, JohnA1 said:

$19 back then. 

[JohnA1]

The man is right, but timing is a biatch..