I already started getting messages and emails about this last night and this morning so I will do my best to interpret what he said and put it in a more (hopefully) easily understandable english. Of course, please make an allowance for the fact that this is, to a degree, my interpretation.
If you want to watch the video itself that Harald recorded, you can find it (on youtube) HERE.
I suggest you read this email carefully, there is a lot of valuable information here.
Let us begin...
During the 100 KBC for 1 gram of gold distribution, 211 Kilos of Gold got distributed to the KBC affiliate/customer base between 4th July 2019 and the end of December 2019. Many people, of course, never bothered to go for that exchange and some went part of the way by converting KBC to bonus univals and creating QR codes on their Karatbit account but then went no further (I, for example, did some conversions to QR codes and didn't take them all the way to gold conversion).
If you are not sure if you have QR codes or not - go to your Karatbit account. Go to WALLET and BALANCE and then click HISTOR. Then click CEM WITHDRAWALS and if you have QR codes they will be listed here.
Starting from 1st August 2020, all remaining QR codes on Karatbit accounts that were created during that promotion period will now be exchanged for the new V999 stable coin. Each V999 stable coin is worth 0.1 gram of gold.
What is a stable coin? It is a digital asset, cryptocurrency, held on a cryptocurrency exchange with a known and guaranteed value. It can (and often is) used as a holding mechanism when you sell out of another crypto asset when you think it is about to go down in value (Bitcoin for example). It can and sometimes is also used as an entry point into a cryptocurrency exchange while you decide what other crypto asset you want to buy. The most well known stable coins in the market are called TETHER or USDT.
The thing that makes all stable coins the same is that they are always pinned in value to another asset or currency. The most common one is the US Dollar. And of course the US Dollar has a problem in that its spending power is declining. So how popular do you think a stable coin pinned to gold will be in comparison? Gold has gone over the $1,800 per ounce level just a few days ago.
The market is suggesting that it could go above $2,000 this year and even higher. What would you prefer to hold? Gold or dollars. Let's add another layer. Karatbars have formed a new partnership with a company that has developed the V999 (and the platform it will operate on) and already acquired all the licences and regulatory approval it needs to offer the V999 as a security in a number of regions of the world. And it is actively acquiring those approvals in every other place it can.
This is a game changer. This is the beginning of the institution that will allow you to exchange your declining bank note for a gold stable coin that you can move in and out of cryptocurrencies and even back to those declining banknotes if you wish. It is a massive step forward and just what the world needs when the world economy is going to hell.
Future plans include a plastic card that will allow you to spend any of your held assets (V999 coin, Bitcoin, Fiat) on day to day goods and services directly.
It is about here where people start to question this based on the idea that some previous promises were broken. Well, my take on that is that, as we have discussed over and over again, the original "plan A" was thwarted because of a number of factors including the dishonesty of some of the people Karatbars worked with and an endless self-fulfilling rumour mill of destruction.
We can whinge and moan about what went before all day long or we can take the view, as I have now done, that where some companies would have thrown in the towel and decided it was too hard to achieve their goals, maybe, just maybe here we have one that is determined to get there whatever it takes. I think, as I have always thought, that there is a bright future ahead for us all if we support this company.
There is more, let me continue.
Unlike with the gold plan under KBC originally, everytime a V999 is created, 0.1 gram of gold will be bank vaulted and this entire process will be undertaken, monitored and audited by outside parties (FACT). There can be no V999 coin without a linked 0.1 gram of gold in a bank vault and this will be audited monthly. Therefore you can depend on each one of your QR codes genuinely being exchanged for real gold, even though it will be in digital form until you sell that coin.
Of course, once you sell that coin, you can then buy more gold if you wish and/or more V999 coins. Why would you sell one only to buy another? Because on the original one you sold, you are the owner of the lifetime transaction fee slice (more on this below).
The rate of exchange for QR codes is exactly as it would have been under the original KBC plan. 1 x QR code will be equal to 10 X V999 coins or, if you prefer, one gram of gold.
Combined with the original KBC to gold distribution, this equates to over 422 Kilos of Gold provided to the Karatbars Community as a direct result of the 100:1g promotion. That's 14,885.6 ounces or, right now. That equates to $26,794,080. That is a colossal sum of money.
Between now and 14th October 2020 you will want to be sure your existing KBC is on the Karatbit Exchange site. There are those that are going further and actually buying more KBC in the market in view of what is going to happen. That is very much personal choice. And it makes sense because KBC, on the new Mainnet, post 15th October, will drive everything and finally, we hope, really start to escalate in value.
If you do not understand why the value could really start to move then think of two similar examples of utility coins that act as the "fuel" in an entire ecosystem which is exactly now what KBC's role will be.
1) Ethereum - the fuel for the world's biggest smart contract blockchain. Our existing KBC is built on a smart contract on the Ethereum blockchain. Our Mainnet will also have and create smart contracts and other things will get built on that blockchain with KBC acting as the "fuel". By the way, Ether (the Ethereum coin) started out with zero value and is now worth $240 a pop.
2) Binance coin. A different purpose as Binance is used as a reward coin for trading on the Binance exchange but, all the same, the entire Binance cryptocurrency exchange empire rotates around and is fueled by the Binance coin. By the way, Binance Coin started out at zero and is now worth $17 a pop.
You can look them both up yourself. Would you be happy with a future value of KBC at even half or a quarter of the Binance coin price, let alone the Ether price?
I, just so you know, would rather right now be buying as much Cashgold as I can over the next few months (rather than KBC) so that I can acquire (as soon as I am able) as much V999 coin as I can. Why?
Very simple really. Everytime I buy a V999 coin (at a cost of 0.1 grams of gold) I will also be buying the rights to a slice of that coins' lifetime transaction income. A transaction fee of 0.02% is created twice every time that coin is sold and purchased (0.02% buyers transaction fee and 0-02% sellers transaction fee).
We will be able to buy V999 coins ahead of the market generally between 1st August and 15th October. On 15th October, the market for V999 will go live on various exchanges (and the number of exchanges will grow over time).
Having acquired V999 coins, once the market goes live and public, once you sell a V999 coin then you will receive 0.02% on EVERY transaction on the coin for its lifetime.
As an example let us say through the QR code exchange and through the general purchase of additional V999 coins you end up with 1,000 of those stable coins by 15th October (you could have more of course). And let us say you sell them all, day one, once the live, secondary, market commences. Every time those coins moved 50 times (and that is easy on a live trading market) you would earn 100 euros.
This is because 1,000 X V999 coins are valued at around €5,000 and you get two X a 0.02% transaction fee every time they change hands. Thus €5,000 X 0.02% X 2 = €2 X 50 repeat transactions = €100. That could happen every month and, of course you could have more than 1,000 V999 coins. It may not sound like much but you cannot get that anywhere else and, for all I know, you might be in a position where you can acquire 10,000 of these or even more.
A genuine on-going interest bearing asset or, if you prefer, passive income.
Critical point to note here. We (defined as Karatbars affiliates and customers) have the exclusive access to the pre-market for V999 coins. My understanding is that only during this pre-market period (now until 15th October) can you acquire the income rights on these coins and once you have those rights you have them for life.
How do they know that the coin was originally purchased by you? That's where these clever little smart contracts come in. You can design a smart contract to do anything, including stamping an individual crypto coin with a unique code that can never get repeated or duplicated.
Moving on...
Harald confirmed that bonuses of up to 25% are currently available to transition the existing KBC through a Reduction Plan into the new KBC (or whatever it will be called come 15th October).
He stated that the VALUE of all KBC held, plus Bonus, will be determined by the average price of the KBC on CMC on 15th Oct 2020. I believe this means that the price on Coinmarketcap on that day will dictate the value of what you have (either put into the reduction plan with bonuses or simply held on the Karatbit exchange).
But it could be interpreted to mean the average price between now and 15th October on Coinmarketcap. I am going to try to get more clarity on this but it may not be possible.
Let me try to expand on this. There was a debate going on in my mind, and I know this debate has been happening within the heads of others, about what is better for us. Do we take the plunge and make the transition into the reduction plan before 31st July, thus acquiring the full 25% bonus or do we not?
Answer: well, actually, how the hell do I know? I don't have a crystal ball. But what I do know is that I have until 31st July to think this through before losing the 25%. If I wait until August I can still get a 15% bonus before the end of that month. I can get a 10% bonus in September and a 7.5% bonus for the first half of October, so all is not lost.
It all comes down to the interpretation of what is meant by that average price.
As I understand it, the bonus is a monetary bonus. It has to be really if you think about it. You can't increase the number of existing KBC by giving out bonus additional coins if your plan is to reduce down to 2 Billion of the new coins. The smaller number in the end in total the greater value they can and will have.
There are potentially as many as 12 Billion current KBC right now. In reality though, the only absolute figure we sort of know is how many are in circulation plus how many are in nodes (and I don't know how many are in nodes of course).
There is a clue available to us in that Harald said yesterday that all the KBC remaining on Karatbit come 15th October will be converted to new KBC at a ratio of 4 to 1 which suggests an anticipated figure of 8 Billion existing KBC. In short for every 4 KBC you currently hold, you will receive 1 new Mainnet coin.
On 15th October I assume we will have a fixed and final starting value on the new Mainnet coin (of course, from minute one thereafter, the market will dictate). And the monetary pot we hold from taking the reduction plan steps will be dictated by that ultimate average existing KBC price plus any bonuses. My mind is in a bit of a spin because if we get 1 new coin for every 4 we hold, why is the monetary value even an issue?
Hence, I need clarification and hence I will hold out until the end of July whilst trying to get said clarification and will probably then plunge in and take the 25%/ That is MY DECISION. Do not be driven in any way by anything other than your own view,.
Nodes; applications for Nodes in the Mainnet will open 1st August 2020. I don't want to be writing this for the next week so I am not going into exactly what a node does here. Let's just say you need nodes to make a blockchain function properly and they are a good thing if you can get them.
It was good to hear Harald say that no existing node seat holders will lose their current seats. So if you have a node or nodes already, it would appear that you will be at the head of the queue to decide if you want a new one or not.
It was stated that all KBC that remains on Karatbit (as at 15th October) will be automatically converted to the Mainnet at that 4 KBC to 1 new coin ratio.
Now this next bit is critically important to you!
Any KBC not residing on Karatbit as at the 15th October will be eliminated from the new Mainnet. Residing obviously includes those committed already to the reduction plan.
If your coins are not on Karatbit now and you do not get them on Karatbit by that cut off date, you are not going to be getting any new coin.
The new Mainnet coin will be at the heart of the new decentralised blockchain protocol and associated ecosystem (as I said, it will be the fuel for everything).
Harald said that it brings with it a second layer of security. I just read this as decentralised blockchains are more secure than a centralised one. Absolutely right.
The combination of limited masternodes using a proof of stake mining system and the ultimate purpose behind the new ecosystem in decentralised banking is something special. Proof of stake simply means (and this is about nodes again) you are happy to tie up your coins (or some of them) to serve as part of the management of the blockchain in exchange for new coin rewards. Of course, you can always give up a node and take the coins back. They are "deposited" not given away.
Harald confirmed that, from the 15th October, the new Mainnet coin will be listed on various exchanges.
Do make sure, if you want to acquire V999 coins in the pre-sale period, that you register your account on the BETA V999 platform before the end of this month. Even if you don't think you can be bothered with this right now, give yourself this option in case further information comes out that makes you see the great value in it.
It would be madness in my opinion right now for any of us to not be buying cashgold in readiness for exchanging into these V999 stable coins. Worst thing that can happen is you end up with more gold!
In your back office, under GENERAL, LATEST NEWS, there is a full rundown on how to register on the V999 platform. Follow that procedure but be aware there may be a couple of places along the way that can cause minor problems. I will try to get a video out on the procedure asap. In the meantime, here are the issues I encountered and then overcame:
1) You may find when you follow the instructions about entering the affiliate code that it doesn't work. I found that when I got to the affiliate code box, it worked if you just left it and did not even attempt to enter anything in that box.
2) When uploading the documents for KYC, one of my jpg's (the utility bill) was too large a file so I made it smaller (halved the size) and it went up fine.
From 1st August the partner company running V999 will accept 0.1 g of cashgold and/or 1 Unival for 1 X V999 coin. Eventually (I believe) you should be able to buy V999 with credit/debit cards and maybe even bank wire transfers.
Worth stressing again that the V999 coin already meets all regulatory licenses and permits necessary for a Security Coin in most regions. If it doesn't in any region they will not be available in those regions until it does.
There is a "Pre Market" and "Secondary Market" for V999, meaning Karatbars Affiliates/Customers can buy the security coin (V999) in the pre market and then the public at large can in the secondary market.
From 15th October you will be able to exchange the Mainnet coin (new KBC coin) for the V999 coin as well.
The V999 coin has a real gold value of 0.1g and can be exchanged/sold at any time.
So, now it's over to you. You can determine how involved you wish to be but one thing is for sure. I think the V999 coin is an incredible step forward and, quite clearly, come 15th October 2020, it will be all guns blazing for Karatbars.
There is, of course, much more going on but I think this message from Harald is what you really needed to know. If you have anyone who you feel should get this email from me, go to my archive where you can add someone to the list (HERE) to get these in the future and look at some back issues.
I hope you found this useful.
John
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