I have so much to tell you about following my trip to Frankfurt that I am going to have to communicate it all to you in stages.
First off let me tell you that they are moving forward at pace with a staggering number of projects that will, in time, all fall under the general umbrella of the Gold Standard Bank Group.
Cashgold, Crypto Coins, Karatpay, Crypto Exchange, Digital Stock Exchange, Gold Mines, (eventually Gold Refining), Gold Exchange Trading, Blockchain Smart Phone, ATM Machines, Gold backed bank accounts and more.
Under the GSB Group are Karatbars, Karatgold, Karatcoinbank and now Karatbit. More businesses may well come online over the next few years as this company grows and the entire focus of their operation is centred on acquiring gold, getting gold into the hands of as many people as possible and then using cutting edge blockchain and digital technology to supply gold, crypto and other digital services to the world.
Ultimately there will be (pardon the pun) "one coin to rule them all" in the shape of the GSC (Gold Standard Coin). This coin will be the major interchangeable currency within the entire Group.
The GSC will come into existence when KBC (Karatgold Coin) and KCB (Karatcoinbank Coin) merge into one coin on their own Blockchain Mainnet around September 2019 and beyond. At that time any unsold KCB coins will be burned. How many there will be at that stage can only be guessed at and a formula that parallels the value of the two coins will be put into place at that stage.
For example, if we assumed that one KBC was worth 42 cents (I use the figure simply for mathematical ease) and one KCB was worth 14 cents, then 3 KCB would be rolled into 1.
The minimum value of one newly formed GSC at that time will be dictated by a) the guaranteed minimum value of KBC as at and after the 4th July next and b) the trading real time value on the market (with a minimum value of course as set on 4th July 2019).
Once this happens, the set in stone ratio of 100 KBC = 1 gram of gold that occurs from 4th July 2019 and onwards will go on to apply to the newly merged GSC but then, over time, the ratio of coin to gold will fall. For example, it is anticipated that by January 2020 the ratio will be 75 coins = 1 gram of gold.
What you need to do now to be ready with your coins for the future...
If you haven't done this already then you must get yourself an ERC20 compatible Ethereum Wallet. The easiest one to set up is at https://www.myetherwallet.com .
There is a video (link below) that I did a week or so back that shows you how to set this up.
Do this now if you haven't done it yet. Stop putting it off!
Then you need to add that wallet address to your profile in either karatbars.com or karatgold.sg (your log in details will be the same for both sites). You will see an edit profile link under profile on both sites and, again, I have covered this in the video.
Now if you believe you are entitled to the 35% bonus that was offered between the start of the KBC ICO in February '18 and the extended end date for the bonus of 15th June '18 then there is a further step now that needs to be carried out which I will report on separately with another video soon.
Before you can do that next bit (all to do with claiming your 35% bonus) you must have set up your own Ether wallet so please, get on and do that before I produce that next video.
One final note before leaving you with this one. Some people who purchased KBC back during that 35% bonus period have still not or only very recently informed Karatbars of their Ether wallet address.
If you are one of those and/or you cannot see your KBC tokens in your ether wallet (and please make sure you have set KBC up in that wallet) then after entering your Ether wallet address into your profile at Karatbars/Karatgold send them a support email telling them what your Ether wallet address is and could they send the coins please.
Or, even better, give Karatbars support a ring. Be aware that email response to support queries is slow because they are inundated. I would take a deep breath and use the telephone support (it may take a while to be answered but it is more efficient).
If you use Skype and stick some money on the Skype account to make landline calls Germany is very cheap or you may have be able to get international calls to Germany set up cheaply by your landline service supplier.
The number to contact at first is below:
Karatbars EU Support phone number: +49 (0) 711 128 970 00
Karatbars US/CAN Support phone number: +1 224 829 00 47
John
Nb: Again, let me stress, you must have set your wallet up before getting in touch with support otherwise you still will not have anywhere for the company to send your KBC coins. |
