Minting Market Makers

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#1 Fri, Jul 17, 2020 - 8:21am
Dingo
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Minting Market Makers

I think that this forum topic is well suited to be set amongst the TF Trading Fora. The topic will be the buying of 100 gram gold bars or 2 x 100 OZ silver bars from wholesale physical bullion liquidity providers with $USD. This process is coined (pun intended) "MINTING" and it brings beautiful, real gold and silver into an alternate monetary system (and sends that dirty fiat out at the same time). This is the one and only way to bring gold and silver into an honest money system and trading exchange Kinesis Monetary System. Next step is to send your newly acquired metals to the KMS exchange via the blockchain. This is where the Minter becomes the Market Maker. Once the digital physical gold and silver is sold (with an "ask" or sell limit order, higher than the highest bid on the stack.....so, not a market order and traders' bids must move higher to meet your ask price), you are now the one and only "Minter" of the Gold or Silver that will remain in the system forever. The rewards are perpetual yields paid monthly in gold and silver KAU and KAG. This depends on the transaction turnover or velocity of the system. There's probably more than a University Bachelor Degree course to learn and there's no teacher to teach us. It's all too new! We'll have to teach each other! There are some real costs to bear and our TF could be the best way to keep these costs to a minimum. The rewards could be astronomical, however, we don't know for sure. There's certainly a risk side that you pay upfront. The fees and trading losses happen at several stages and add up. The rewards will only occur over time. Therefore, this probably won't be for the feint hearted. Metals Traders are hardly shrinking violets though. I only hope this system works out and we become key cogs in a system that will end up destroying the Comex and maybe even fiat currencies eventually. But for now - let's take baby steps together!https://youtu.be/absdSIiUe0Q

Edited by: Dingo on Jul 17, 2020 - 8:36am
Fri, Jul 17, 2020 - 8:24am
Dingo
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Minter's Yield Explained

Learn & Earn: Lesson 7 - Minters Yield
Fri, Jul 17, 2020 - 8:45am
Dingo
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https://mint.abx.com/

Handy URL

Fri, Jul 17, 2020 - 8:48am
Dingo
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Wallet URL

Fri, Jul 17, 2020 - 8:50am
Dingo
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Main Website

Fri, Jul 17, 2020 - 8:56am
Dingo
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New Offer!

Fri, Jul 17, 2020 - 10:51am
Dingo
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A Retraction/Amendment from the Master

Uchiki, [17.07.20 22:22]
[In reply to Gary]
Good stuff Gary.
Just one element that might be better changed or removed:
you are now the one and only "Minter" of the Gold or Silver that will remain in the system forever.

For the time being, this is often not true.
The market maker has redeemed the majority of what's been minted so far.

Fri, Jul 17, 2020 - 11:08am
Dingo
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Short thread extension.

Uchiki, [17.07.20 22:22]
[In reply to Gary]
Good stuff Gary.
Just one element that might be better changed or removed:
you are now the one and only "Minter" of the Gold or Silver that will remain in the system forever.

For the time being, this is often not true.
The market maker has redeemed the majority of what's been minted so far.

Gary, [17.07.20 22:33]
[In reply to Uchiki]
Thanks Uchiki - the odd spelling error too, oops! Here was my thinking in relation to that element; we mint bars into the KMS and generally activate Minters Yield with a sell. That gold or silver is introduced into the overall pool of metal. If redemption occurs at any time after this, only a tiny percentage of your particular minted metal is redeemed. The lion share would be from what others have minted. Essentially we could only ever redeem a few thousand atoms of our own minted metal. Maybe I'm barking up the wrong tree here??

Uchiki, [17.07.20 22:36]
[In reply to Gary]
From JP's numbers (and I'm rounding quite a lot here), 500k KAU minted, 100k KAU in existence.
That means very approximately 80% of minted KAU have been redeemed.

Once there is organic demand in the system, this % should drop substantially, but that's where it is at the moment.

Gary, [17.07.20 22:42]
[In reply to Uchiki]
Oh - OK.That's really interesting! I didn't know this. I suppose this is a re-cycling form of redemption where the main market maker ? ABX redeems Gold and Silver from the KMS and makes it available again in the Mint or Metaldesk platform. I can't imagine Sixgun, Chad or Hans filling up their boats with that lot. I'll make an amendmint on the thread. Cheers.

Uchiki, [17.07.20 22:45]
[In reply to Gary]
Yep, I think that's what's happening.
Market maker is going to want to maintain a neutral position.

Fri, Jul 17, 2020 - 3:50pm
SteveW
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So what is the price of silver

From my comment on main page.

So what is the price of silver? As I write spot is $19.376 (investing.com). One gold reports spot at $19.52, buying at $19.26 and selling at $20.11. This spread is far wider than "normal" due to the tightness of the market and the premium increase to 3% The Kinesis exchange is $19.54 bid and $19.60 ask, but there is a 0.22% transaction fee bringing the effective pricing to $19.497 bid and $19.643 ask. Most of that transaction fee will be returned to the various users of the system to encourage the re-introduction of precious metals as transactional currencies as Andy and Tom Coughlin explained here some years ago.

“Don't walk behind me; I may not lead. Don't walk in front of me; I may not follow. Just walk beside me and be my friend.” ― Albert Camus
Fri, Jul 17, 2020 - 3:57pm
SteveW
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Be your own Central bank

Nice posts Dingo. I'll just add a few simple points.

1. Be your own Central Bank. Mint a minimum 100 gm gold into 100 KAU coins or mint a minimum 200 oz silver into 200 KAG coins.

2. To get the minters yield from these created coins in perpetuity either sell on the exchange offering at a limit offer above the current bid price, or send to an unrelated party, or load onto your debit card and spend.

Note even though your personal created coins may be redeemed you still get the yield since you added money into the system (i.e. individual coins are not tracked only balances).

“Don't walk behind me; I may not lead. Don't walk in front of me; I may not follow. Just walk beside me and be my friend.” ― Albert Camus
Sat, Aug 22, 2020 - 8:48am
Dingo
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Market and Limit order selling (on exchange) now qualifies!

Kinesis has recently changed the requirement of selling using a limit order, to either market or limit. This Minting Yield qualification rule change also applies retrospectively to all prior Minting Trades.

Standby for a Minting Marketing Blitz, spearheaded by Andrew Maguire, this coming week. Will keep you posted!

Fri, Sep 4, 2020 - 9:16am
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Minting Page - including 3 Andrew Maguire Videos

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