Hi Turdville, Kinesis has a forum on Telegram that is OK, however, it's not a lick on anything like TF metals comments sections.
Tom Coughlan and Andrew Maguire have talked to Turd already in a podcast. I haven't witnessed too much excitement here, and this maybe be somewhat due to US investors requiring to be accredited investors in order to invest in Kinesis Velocity Tokens (KVTs).
Having low credentials as an investor, I'm fortunate to be born outside of the land of the free and home of the brave. I easily secured myself some KVTs - my first crypto purchase. Lucky that there was phone help and easy instructions for support.
I don't expect too much interest here initially, however, if I (and anyone else here??) can post a few items here it might spark some interest in Turdville eventually. If this gets bigger than Ben Hur, I'd hate that long suffering Turdites miss out.
Dingo, I am interested. Are these links the best place to learn more about it? I was hesitant to jump into bitcoin, simply due to ignorance and reluctance to embrace new tech.
I wasn’t a crypto currency enthusiast at all. I struggled to understand what all the fuss is about. It’s important, I think, to distinguish between the Distributed Ledger (Blockchain) and Cryptocurrency.
The Blockchain is open source like email. It has no inherent value, however, does seem an amazing way to have a trustless medium for storing and exchanging contracts. In Kinesis’ system, gold and silver that are already vaulted (no paper), ownership contracts are represented by ticker codes like KAG and KAU (and other wholesale codes).
The blockchain also calculates yields based on pooling and dividing 0.45% spending charges (not unlike credit card charges to retailers) and income generated at a commercial center. KVT coupon holders don’t directly own underlying metals like KAG and KAU, however, the 300,000 KVT coupons get the largest chunk (20%) of this pool of money (paid in gold or silver). KVTs are also stored on a different blockchain and wallet to KAU and KAG for good reasons (technical). I have purchased quite a few KVTs because the yields could become ridiculously high if the system is even moderately successful. Unlike bonds, there is no expiry and there’s no possible dilution of the 300,000 KVTs. The trading price for KVTs would be magnified exponentially if yields were high, but, who would sell a goose laying golden eggs?
There’s a lot to learn about minting, holding, and other ways of generating yield. I won’t go into it because I’m still learning and still very cautious. I may end up having my pay paid into my KAG/KAU wallet and use the debit cards and payment system as my bank account for everyday use. I’ll get yields back slowly over time for every gram I spend.
He's in London and talked me through a few things. Nice bloke.
Big UAE investor now on-board.
The problem with Kinesis is it is not legal tender, therefore you owe taxes on any purchasing power gains.
Sadly no one understands that having to pay taxes in the future gives the banks their going concern... so I came up with a better solution.
Sounds like you've developed a system with some parallels. I hope it goes well for you and your team.
Paying taxes is obviously a big thing to consider. I tend to pay taxes to avoid bigger fines and going to jail. Not that I disagree with your argument about taxes propping up the system, but I'm happy to avoid these penalties.
The biggest risks to any system is failure to catch on. This goes for Kinesis and any system. Paying taxes and legal tender issues are small issues compared to failure to launch properly.