One would think that the parties connected to last week's fiasco would be a little more communicative as to their progress??
It is awfully quiet these days regarding BC. I guess all parties are trying to regroup and take stock of where to go next. I'm sure David will give an update at some point...til then, I feel happy to have my stack intact ! Nothing better than phyzz !!!!
It would be nice to hear how much take up there's been by those who are able to buy in the primary market.
I wonder if the primary market is even offering now ? And if it is, when will the secondary market be available to buyers ???
Is ANYTHING happening ? Or has the beer gone flat ?
This really hurt ABX credibility, at least for me. Due diligence should have been performed long before the DAY OF ROLL OUT.
What happens next is anyone's guess. I sure would hate to be involved with ABX in the future only to have them pull the rug out from under for reasons that cannot be backed with credible evidence. Maybe there is credible reason why this withdrawal happened, but so far nothing concrete.
I put this in the category "typical gold market bullshit".
Next up, all is well, we're moving ahead as if nothing happened, hugs and kisses all around.
David, I believe you told us that you would be investigating the statements made by ABX and BC in an attempt to clarify the situation - but I've not seen anything further from you.
I understand BC will officially launch in the next few weeks, so I was just wondering if you are close to being able to update us all on your findings.
I've completed 90% of my due diligence and it all checks out so far. I'm only waiting on the updated client account agreement to confirm the allocated vs unallocated disagreement that ABX had.
I went a bit quite as I knew that BullionCoin were going to make an announcement (which they did today) and couldn't mention it before hand.
BullionCoin's press release confirmed that they are partnering with Noor Capital as a replacement for ABX. Noor offers wholesale gold & silver and turns over around 200 tonnes of gold a year and has $200m in paid up capital, which makes it several times larger than ABX.
Noor will also be providing full settlement, logistics and vaulting on a fully allocated & segregated basis. The logistics and vaulting will be done via Brinks.
You can read the full press release here: https://www2.bullioncoin.com/news/press-release-05-september-2017/
Now that BullionCoin has been able to replace ABX, I should be able to get my hands on an updated client account agreement so I can finish off my assessment.
All the best,
David, Thank you for the update, the only check that really concerns me at this stage is the one about title vs first lean, I look forward to this being clarified in your report.
Yes, David, thank you for the update.
It seems as though enthusiasm, yes even mine, has dried up quite a bit but I will continue to monitor your statements. I do appreciate all you have contributed, and for keeping us informed !
Thomas Koenye – Co-Founder – explains:
“The need to offer a secure electronic online channel to Primary Market investors via a market maker linked with the very best of liquidity providers became extremely important. Hence, Digital Gold Limited is delighted that after many months of planning and implementation with Noor Index we are offering these world-class services through the BullionCoin Exchange.”
So planning to work with Noor started a long time before the problems they had with ABX?
......that's it? Excitement gone?
...it really was too good to be true.