I had been planning a Karatbars update for next week but an email message I got this afternoon prompted me to get it out sooner. In fact, that message hit me like a baseball bat and made me realise I need to do this now. 

Mentioning no names (I'm sure the individual will know immediately that I am referring to him) what hit me was that this individual has the notion in his head that the whole KBC coin scenario was simply a scam. He is so wrong, and I hope that he doesn't give up on this fabulous wealth creation opportunity before it starts to bear fruit.

I can't rush this email. I need to explain where we are as clearly as I can, and this takes a lot of words. So, if you have no interest in this, now would be the time to disconnect.

As I always must do, I had to assume that if this is in one individual's head then you can bet your boots, he is not alone with that thought. I am sure others feel the same way. Most people don't understand how cryptocurrency works. When I launch First Class Crypto, I will set about changing that.

Now it is true that the original plans for KBC went astray. That happens when you get an outfit onboard that steal billions of your coins and then proceeds to try and bring the company down to hide their crime. Karatbars had to deal with that (and to a degree are still dealing with the fallout) and then unravel the mess that was left behind.

This has created a lack of trust. That is a fact that I can't hide from and it would be pointless to try but in my mind what we have seen is a setback, not a game changer. I totally believe that KBC is one of the most valuable assets I hold.

Karatbars had to decide to either simply give up on the idea of KBC as the core of where they took the business or create a plan B to move forward with. Many companies would have taken the easy option after what happened. Fortunately, Karatbars have not.

During the last six months this new plan B has been carefully crafted. This has happened behind closed doors with a total lockdown of information to make sure that the wrong information didn't start to circulate again. Misinformation helps no-one and, yes, in the absence of sound information a void appears, and the void will get filled with a lot of speculation.

When we can't get answers, we get frustrated. That is human nature.

If all that wasn't enough for them to deal with, then along comes coronavirus to put everything back even more. The net result of that is that the bulk of those that were working on various component parts of the big plan have had to stop. Everything has been delayed. This is not an excuse. Contact any company that you get a service from tight now and see how good the support is.

But it isn't all bad news. This has also allowed them to focus on what's really important and to remove some of the obstacles that were standing in the way.

I have no privileged information by the way. I am simply watching and waiting along with many others and picking up little bits of information from weekly contact sessions between corporate representatives and some serious company affiliates that I know put their money where their mouths are.

I guess I have one advantage over some having spent months, nay, years sometimes, waiting for some crypto projects to finally come to fruition or die an untimely death.

In fantasyland they always come good overnight but in the real-world things go wrong, need to be put right and corrected before we can all move forward. A lot of crypto projects simply die because the support goes away. That is not what's happening with KBC. A lot of them hit barriers they cannot overcome. Karatbars have already overcome many.

What you need when things turn against you is faith, trust and patience. Where KBC is concerned I have all 3 in large doses. I don't listen to people spouting crap online because they saw it on facebook or some pathetic bad-mouthing forum. I look at the facts I can see and listen to those who are in touch with the decision makers.

Let me put it out there firmly and vehemently. Not only is KBC not a scam it is a cryptocurrency that I and many others are still buying. I want to own as many of them as I can get within my means. But I also do not ever put all of my eggs in one basket. I am mining another coin that has seriously good prospects and I am holding coins that I sometimes put to work and sometimes simply hold.

I also like to buy gold. I believe that a combination of gold and cryptocurrency may prove to be a blessing in the future if things continue to go bad with the world economy. I am convinced that we are going through a period of inflation depression right now that will suddenly explode into hyperinflation. When (if) that happens. Fiat currencies will not be your friend anymore and holding gold and some cryptos might just prove to be a life saver.

And the reason I hold KBC and keep the faith with it is that I understand what needs to happen for any coin to move positively forward and upward in value. I also know that the plans are not only in place but being actively worked on to get KBC up there. KBC has a combination of advantages that few, if any other coin anywhere, has.

I am going to make a statement now and then I am going to try to explain why KBC is worth holding on to and what differentiates a good prospect from a bad one.

The statement first:

I can think of maybe a small handful of coins that have a real chance to do what Bitcoin did and create millionaires out of relatively small holdings. One of those is KBC.

The other coins, right now, do not matter. I will be discussing some of them through the other (First Class Crypto) media in time.

Bitcoin became the coin that it is for the following reasons:

It was the first of its kind and it captured the imagination of people who wanted a way out of a corrupt system that governs the movement and use of money in this world. These people, call them libertarians if you wish, are not OK with the idea that everything we do (especially financially) should be a matter for state record and control.

Gold proves to us time and time again that inflation is not a prerequisite of currency. It was convenient for the governments of the world to give up the gold standard so that they could ignore the rules that we all have to live by. They did not want to continue to operate within their means. It is as simple as that. 

It is not enough to simply trust the system when computer science has given us the ability to have a new system that does not rely on trust and cannot be corrupted.

That new system comes courtesy of blockchain technology.

NB: People can be corrupted. Systems can be corrupted by people. The blockchain cannot be corrupted. It requires confirmation from many different sources before a transaction, any transaction, is deemed real and thus forms part of a new block.

Bitcoin is not corrupt. It can be used for corrupt purposes but so can cash. It is important to make that point. People are the problem. Currency in any form is merely a tool. You want corrupt, just look at the banking system. Bitcoin is also not enough. There is room out there for many "new world" currencies. Any of them that link directly to gold have to be worthy of study at least.

In addition, Bitcoin offered a way to solve real world problems for many by allowing access to a system of transferring money or monetary value thus allowing the unbanked to become banked. Even today, it is estimated that half the world's population are unbanked. We take the ability to transfer money to each other for granted. We can (just about) do it without being totally ripped off. Many cannot.

And, here's the real key, a number of people acquired and held large amounts of Bitcoin when everyone else was ignoring it and calling it a total scam. Those people kept faith with it, and, in the end, they were able to reap the appropriate rewards. And, I think, there is more reaping to come.

And yet, Bitcoin took around 5 years before it really got going at all and Bitcoin had nothing behind it except a loyal following of believers and a dream that things could change. Oh and, guess what, there are still those that would call bitcoin a scam. That is because they do not like what it represents and can do for the majority or because they simply don't understand.

NB: KBC has a strong and loyal following of believers who are interested in more than the trading opportunity KBC offers. Bitcoin was 5 years in when it started to work for those that held on. It is only 11 years old now. KBC taken from the end of the ICO is now (just) two years old. It has time yet to grow and develop.

Bitcoin may well still have not reached its full potential in value and use, and the day is upon us already when acquiring just one Bitcoin is beyond the scope of the majority. That will get worse and other cryptocurrencies will ascend accordingly IF they have something real to offer.

Now let's just draw some more comparisons with KBC. Does it have a strong and loyal following? Are there people holding substantial amounts of it with a vested interest in holding more and keeping what they have? Absolutely.

Does it solve real world problems? Absolutely. You haven't seen it yet, but it will become obvious when it is there. But when it is totally obvious for all to see, it will be too late for most to really reap the rewards. Sounds very much like Bitcoin again.

KBC will be the fuel for the Karatbars Main net (blockchain). It will be the currency that drives everything in the Karatbars ecosystem. Isn't that worth waiting for?

NB: Why would any company even create its own blockchain (by definition allow total transparency) if its intention was anything but honest? let us not forget that Karatbars are now approaching 10 years of age.

KBC will be on its own blockchain in time and will come away from the Ethereum blockchain. I can't tell you the exact when, but it will happen and pretty soon. At that time when it becomes the fuel that drives the entire ecosystem there will be some sad people around who will start to wish that they had held on. This "currency" is going to be the fuel for real products and real services.

One critical service will be the Karatbit Exchange. Right now, the Karatbit Exchange is in the middle of a migration from where it was (we'll call it phase 1 - creation and development) to phase 2 where it will be brought under the control of a new dedicated I.T. team at Karatbars.

It is important to remember that Karatbit was originally designed and built by the Marvin Steinberg crew. The same people that then tried to hold Karatbars to ransom. And then it had to be put right by Ovidiu Toma and his team and now needs an entire rebuild to get it ready for the Karatbars main office. What Ovidiu did for us was to shut Marvin S and his people out. Now others need to focus on its further development.

A linking process will begin which will start with things like the full integration of Karatpay to a new stable coin that is being developed. This may continue to be called a UNIVAL it may end up being called something else. One way or another the stable coin will be one tenth of a gram of gold in digital form. I and others believe KBC will easily outgrow one UNIVAL in value. But that is only an opinion.

No other project is looking to create a process where people can trade directly in and out of fiat, gold and crypto. Some are looking to go crypto to gold or crypto to fiat but to interchange between the 3 is (as far as I can tell) still a unique idea. Karatbars are looking to go further still but I can only speculate on how that will come to pass.

Karatbars are, first and foremost, a gold supply company. Everything they do will maintain that as their central core. Thus, Karatpay comes first and once that is fully integrated with the blockchain, other services can begin to be fully integrated.

Think of this new stable coin (if you know a little about crypto) as you would the USDT or Paxos standard coin. Both of those are linked directly to the dollar. The new Karatbars stable coin will be directly linked (as I understand it) to gold and every transaction within the blockchain will be paid for by KBC. Real use for a crypto that adds real reasons for why it will increase in value. Not just a nice idea.

There are other gold linked cryptos. Kinesis and Paxos Gold to name but two but they are different and not the subject of this email. Both of those are completely different to KBC and do not support real world products. They simply act as a value token expressed in gold or fiat currency. And what KBC will allow us to do in the future, more than anything else, is derive an ongoing income from the overall activity across the Karatbars Main net. The point is, KBC is the fuel for all of this.

Think of the Karatbars blockchain (main net) as you would think of the Ethereum blockchain. Everything that happens on the Ethereum blockchain is driven by Ether. Ethereum uses something called GAS to move things around and to generate GAS you need to hold ETHER. This is required for a transaction to happen. This is why you cannot move any ERC20 token around without having some ETHER as I am sure some of you with external ETHER wallets remember.

Ethereum did what Bitcoin couldn't do with something called a smart contract. The entire Ethereum blockchain was built to allow others to build projects upon it. There will be other projects in time built to run on the Karatbars Main net. KBC will be the ETHER of Karatbars. An ETHER today is worth over $200. Would you be happy if KBC got to be worth half of that? Or maybe one tenth of that? I think so. 

KBC has a bright future but don't think it is going to suddenly explode any time soon. There's a lot of building to do yet. But would it really be so bad if it didn't happen for another two or three years? I don't think so.

To end, here is a very brief summary of what else I (think) I know about what's happening, please remember this has all been picked up from looking at Corporate involvement on webinars etc.

The K-Academy launches 30th June - that will be both a product and a resource for learning all about building a business within the Karatbars community. There was a rather boring and yawn worthy launch webinar about that last night. I would have done that differently but hey ho, we all know better when we don't have to put the work in.

A new form of card (for commissions etc) may well get unveiled next Wednesday (17th June). I have no details on how that will work yet or where it has come from.

K-Merchant is undergoing some big (important) changes that will make this much better and link to blockchain is a high priority on that too. CEM's are also going the same way.

New videos and support material coming for the Karatbars website.

Within the next few months (I heard 4 to 6 weeks) we should have a solution to what happens with QR codes that we generated during the KBC for gold promotion. 

We will know what happens to the vouchers for shares from KCB coins once the Karatbit migration and a few other priorities are dealt with. No time approximation was given on this. I do not know anything more about Karatbars or Gold Standard Bank going public.

Everything now is waiting on the full implementation of the Main net. If I hear anything else of importance, I will try to get it out to you, but I am waiting like everyone else.

I hope that helped some.

Regards

John