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    Today, 05:13 AM
    Paul799 replied to a thread Kinesis in Personal Prosperity
    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. 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.
    36 replies | 2959 view(s)
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    Today, 05:07 AM
    Mordan, I wasn't talking about making Bitcoin illegal. I was talking about making its use as a currency illegal. (Like they are doing currently in China, for example: trading is allowed, buying goods and services with it no.) I wasn't talking about the USA, I was talking about Governments, plural. USA: authorities have 1000 ways to prevent Bitcoin to become a viable widespread currency without having to make it illegal, for example through tax laws, so the 1st amendment doesn't matter
    67 replies | 2429 view(s)
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    Yesterday, 08:05 AM
    dannno, I agree with everything you say.
    67 replies | 2429 view(s)
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    Yesterday, 08:02 AM
    Pretty good. No currency crises Why do they have not survived? Was it due to free currency markets or to the coercive powers of the Central Banks?
    10 replies | 596 view(s)
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    06-11-2019, 10:21 AM
    Paul799 replied to a thread Kinesis in Personal Prosperity
    Here is a comprehensive list of points to check out while pondering about buying a gold-backed stablecoin 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?
    36 replies | 2959 view(s)
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    06-11-2019, 10:08 AM
    Mordan, dannno, I agree with you about Bitcoin needing less trust that a gold-backed stablecoin. I'd only correct you, just to safe face, when you talk about banks holding the metals. It doesn't need to be a bank. The second point is, what if confiscation. This danger exists for bitcoin too. What if Govs declare trading of bitcoin illegal. Buying with bitcoin is illegal, just the act of offering bitcoin in exchange of good or services is illegal. Accepting bitcoins as a means of payment is illegal. Just showing the readiness of accepting bitcoins to that purpose is illegal.
    67 replies | 2429 view(s)
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    06-11-2019, 09:37 AM
    If the dollar or any other currency would be universally accepted at all times, central banks would see no necessity to hold gold at all. The fact that they do so, shows that such currencies are not a universal replacement for gold. Alan Greenspan What is interesting, is that the general price level in terms of gold is still back where it was. In other words, the change in the price of gold is equal to the change in the price of commodities or the general price level, which tells you that there’s something about gold – I’ve thought about this for a number of years and I’ve reached a blank. It’s almost as though, technically speaking, the ability of having a stable price has great value. Alan Greenspan
    10 replies | 596 view(s)
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    06-10-2019, 06:10 AM
    No. I would want to pick a serious gold-backed stablecoin project :cool: Among institutionals (enterprises, fonds, banks, multinationals, governments, sovereign fonds etc.) there is as much as zero interest in Bitcoin, both as a investment and as a means of payment or value transfering. They are interested in Stablecoins. Folks living in countries with currencies subject to depreciation. No interest in Bitcoin. They want Stablecoins. Bitcoin right now is the one only in the crypto-sphere, among crypto-enthusiasts.
    67 replies | 2429 view(s)
  • Paul799's Avatar
    06-06-2019, 09:53 AM
    Paul799 replied to a thread Kinesis in Personal Prosperity
    Thanks Timosman 4 Jun 2019 - The Blockchain Commission for Sustainable Development is hosting its second annual Blockchain for Impact Global Summit at the United Nations. The host, S. Fernandez de Cordova, co-founder of the UN Commission, is also a member of kinesis advisory board. Kinesis Ceo talks at 30 and 50 http://webtv.un.org/watch/part-2-blockchain-for-impact-2019-global-summit-frontier-technologies-powering-blockchain/6044587223001/?term=
    36 replies | 2959 view(s)
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    06-06-2019, 09:30 AM
    I never touched a crypto and I'm all for avoiding banking institutions. That said, Bitcoin being the cheaper value transfer option is not true. Or rather, it's true only under particular circumstances, namely a) the sender has already Btc b) the recipient is happy to receive Btc In case of $ --> Btc --> $, which is by far the most common case as in our society the acceptance of Btc as a currency is near to zero, even PayPal is a cheaper way to transfer value than Btc. I don't know what you mean by better, but for sure you didn't mean faster. I think blockchain will offer payment network options which will be cheaper and faster than the current one, but that won't be Bitcoin.
    67 replies | 2429 view(s)
  • Paul799's Avatar
    06-05-2019, 03:47 AM
    I took a shortcut and switched to the short version of the IGWT Report There were only two other occasions when commodities were similarly undervalued relative to equities: just ahead of Black Thursday on October 24, 1929, and during the excesses of the dotcom bubble. p41 Our tour de force has also brought the following findings to light: • Gold and blockchain technology: This liaison is not a brief summer flirt, but an ever closer relationship. As in any relationship, there will still be some problems to solve until the partnership is consolidated. However, we are convinced of the viability of this relationship.
    10 replies | 596 view(s)
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    06-04-2019, 03:49 PM
    It sounds like a gold-backed stablecoin, like the one proposed by the Russian Central Bank to settle balances of payments within the Eurasian Economic Union
    11 replies | 442 view(s)
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    05-30-2019, 05:13 AM
    p30-70 In buying 657 tonnes of gold in 2018, central banks made the largest purchases of gold since the end of Bretton Woods in 1971. Russia (274 tonnes), Kazakhstan (50 tonnes), and India (42 tonnes) were the largest buyers. In an earlier In Gold We Trust report, we described three groups of people whose worldviews differ fundamentally in their assessment of the overall economic situation. 1) “Believers”: persons with high trust in the status quo. This group of people has no fundamental doubts about the status quo. They consider the measures implemented in the wake of the Great Financial Crisis to be fundamentally correct and expedient.
    10 replies | 596 view(s)
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    05-30-2019, 04:47 AM
    Paul799 replied to a thread Kinesis in Personal Prosperity
    Some Updates since the last post April 2 Kinesis' pre-ICO has started, with the launch of the Kinesis Currency Exchange (KCX). It runs from 2nd April to 30th June, 2019. They call it IMO (Initial Minting Offer) because it consists in „minting“ blockchain-„coins“ backed by precious metals. The precious metals are stored in the vaults of the Allocated Bullion Exchange https://abx.com/technology-services/storage-logistics/ As of today 15,300 KAU and 108,000 KAG were minted (15,3 kg of gold and 108,000 oz of silver were bought and deposited in the ABX vaults) 05/23/2019
    36 replies | 2959 view(s)
  • Paul799's Avatar
    05-29-2019, 08:36 AM
    Some takeaways out of the first 30 pages The official announcement of the Hungarian central bank on its first gold purchases since 1986 states: “In normal circumstances, gold has a confidence-building feature, i.e. it may play a stabilising role and act as a major line of defence under extreme market conditions or in times of structural changes in the international financial system or deep geopolitical crises. In addition, gold continues to be one of the safest assets, which can be related to individual properties such as the limited supply of physical precious metal, which is not linked with credit or counterparty risk, given that gold is not a claim on a specific counterparty or country.” “Like gold, U.S. dollars have value only to the extent that they are strictly limited in supply. But the U.S. government has a technology, called a printing press (or, today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at essentially no cost.” Ben Bernanke "Diminution in the dollar’s value was so slow there seemed no cause for public alarm. It was like watching an ice cube melt. It happens, yet slowly."
    10 replies | 596 view(s)
  • Paul799's Avatar
    05-29-2019, 08:03 AM
    "Since 2007, the annual In Gold We Trust report is THE authoritative report on gold investing, and is required reading for anyone interested in the precious metal market. As a team, Ronald-Peter Stöferle and Mark Valek analyze the state of the global financial markets, monetary dynamics and their influence on gold price developments like no other. Ronald-Peter Stöferle is a partner of Incrementum AG and is responsible for research and portfolio management. After graduation, he worked at Erste Group in Research, where he published the In Gold We Trust-Report for the first time in 2007. Over the years, this goldstudy has become the industry standard publication on gold, money and inflation." https://ingoldwetrust.report/wp-content/uploads/2019/05/In-Gold-We-Trust-2019-Compact-Version-english.pdf https://ingoldwetrust.report/wp-content/uploads/2019/05/In-Gold-We-Trust-2019-Extended-Version-english.pdf Below, a very interesting video presentation of the report (13 min.) https://www.youtube.com/watch?v=ncWcgJv7Eus
    10 replies | 596 view(s)
  • Paul799's Avatar
    05-26-2019, 11:09 AM
    This is interesting because it shows the difference between commodity-backed and unbacked cryptos. It shows that commodity-backed cryptos will assume an institutional role in the future financial system while unbacked cryptos will get a marginal role, if any. When Russian authorities banned cryptocurrencies, they meant unbacked cryptos like Bitcoin. They didn't mean blockchain based currencies in general
    2 replies | 214 view(s)
  • Paul799's Avatar
    05-26-2019, 11:01 AM
    Boom boom Becker invested big time in some Nigerian oil company. That's the main reason of his financial problems. And yes, he married too often. Child support is not that costly, ex-wife spoil is. Bjorn Borg went broke too. What a great athlete
    7 replies | 480 view(s)
  • Paul799's Avatar
    05-26-2019, 10:48 AM
    No, because as long as something accomplishes a purpose, it will stay, no matter its price volatility. Even if tomorrow the price of bananas collapse, that doesn't spell the end of bananas trading, because they taste delicious and everybody likes them. Question is, what is, or could be, Bitcoin's purpose in our financial system, other than a means to gamble and make the proverbial quick buck
    67 replies | 2429 view(s)
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