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Kinesis
#11
(2019-09-27, 11:41 AM)BobBobert Wrote: I am cautious but hopeful about that.  There is something about all the UK gold being held in London and USA gold in Fort Knox (I think) that worries me.  I am sure it is as secure as anything really can be in these times but it is under the control of say the USA govt who cannot be trusted in a critical time of economic upheaval. So Kinesis have a secure vault that daily must be getting added to as people invest more and more into them?

And how secure is the vault? I don't know about this. I would still buy the real stuff I should invest and have it physically myself.
Cardano is the most promising 3 gen. crypto right now.


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#12
(2019-09-27, 12:12 PM)Carsten Wrote:
(2019-09-27, 11:41 AM)BobBobert Wrote: I am cautious but hopeful about that.  There is something about all the UK gold being held in London and USA gold in Fort Knox (I think) that worries me.  I am sure it is as secure as anything really can be in these times but it is under the control of say the USA govt who cannot be trusted in a critical time of economic upheaval. So Kinesis have a secure vault that daily must be getting added to as people invest more and more into them?

And how secure is the vault? I don't know about this. I would still buy the real stuff I should invest and have it physically myself.

I would never keep a bar of gold in my house.
What is this thing that builds our dreams, yet slips away from us?

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#13
Ok
Cardano is the most promising 3 gen. crypto right now.


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#14
Stable store of value
In the 1950s the average price for an ounce of gold was $40.25, equally a high-grade suit would cost you between $40-$45. Fast forward to 2019 and the price of an ounce of gold (as of August) is around $1490, coincidentally, if you were to buy a suit of equal quality it would cost you around the same today.
Now let’s imagine that you held on to that $40 you had in 1950, all the way up until 2019. That $40 now no longer has the same spending power it once did, and wouldn’t purchase you the same quality suit.
This is called currency depreciation and is a byproduct of inflation. Whereas the ounce of gold (being a stable store of value) has retained its spending power, and thus its value.
What is this thing that builds our dreams, yet slips away from us?

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#15
(2019-10-01, 10:03 AM)Hugues Wrote: Stable store of value
In the 1950s the average price for an ounce of gold was $40.25, equally a high-grade suit would cost you between $40-$45. Fast forward to 2019 and the price of an ounce of gold (as of August) is around $1490, coincidentally, if you were to buy a suit of equal quality it would cost you around the same today.
Now let’s imagine that you held on to that $40 you had in 1950, all the way up until 2019. That $40 now no longer has the same spending power it once did, and wouldn’t purchase you the same quality suit.
This is called currency depreciation and is a byproduct of inflation. Whereas the ounce of gold (being a stable store of value) has retained its spending power, and thus its value.

That's true. Good point.
Cardano is the most promising 3 gen. crypto right now.


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#16
Problems with owning gold?
  • Purchasing gold can be expensive.
  • Storage fees associated with physical bullion can be quite expensive.
  • Micropayments in physical gold can not be made.
  • Holding large amounts of gold is difficult and expensive to transport.
  • Gold does not provide a competitive yield as an investment.
The Kinesis solution
  • We have addressed the five problems above by:
  • Allowing as little as 1 gram and 1 ounce units to be purchased on the exchange.
  • Eliminating precious metal storage fees.
  • Digitalising your metals to allow micropayments.
  • Send gold and silver anywhere in the world in 2 seconds.
  • Be rewarded monthly, through fee-sharing yield structures.
https://kinesis.money/


1gr of gold = $47.48
What is this thing that builds our dreams, yet slips away from us?

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#17
It still comes down to trusting that company. I'm not sure I would
Cardano is the most promising 3 gen. crypto right now.


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#18
I am with Carsten on this one, it may be the most trustworthy company but I don't know that and whilst I can see some of the benefits of Kinesis, if there is a global meltdown, then physically having the gold in your possession is way better than say on a blockchain or in a bank vault x hundred miles away. Until the meltdown, if Kinesis are 100% trustworthy then they provide an interesting option for people who would like a lot of gold. Perhaps split your gold between physical and blockchain - but get out the day before global meltdown!
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#19
I would stick to the gold if I had the money to buy it, but I think crypto is a better investment. IF I bought gold I would pay for a vault in the bank and a vault at my home.
Cardano is the most promising 3 gen. crypto right now.


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#20
My company has an old safe that came with the building - the lock on it is temperamental - it can take 5 mins to get in sometimes. When the local gala kept their cash in it overnight once, the panic as the thing would not open...
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