2Yr
Kinesis Monetary System, in my opinion better than any gold ETC or the JPM scams. But physical gold should not be undervalued either.
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@buyingmyfreedom I read through the KMS... if this is the case (https://www.boersennews.de/community/blog/kinesis-money-grundlagen-gold-und-silber-in-der-blockchain-/2011/) then it all sounds pretty interesting, but it would be less of an option for the classic reason of having precious metals as an asset, or it would also require an understanding and acceptance of blockchain technology. And I can tell you from experience that very few gold or precious metal investors agree with this. Obviously, there are still deep reservations on both sides. For me personally, the KMS would be nothing yet. But thanks for the input.
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•2Yr
@InvestmentPapa The differences between gold bugs and crypto bugs, I believe, are largely due to a generational conflict and mutual (unfounded) mistrust. For many crypto investors, greed eats brains, gold bugs are often just a bit suspicious of everything and everyone, due to bad experiences with the COMEX, LBMA and the trillion banks in recent years.
Overall, however, both sides believe in "sound money" and Gresham's law and are trying to escape the fiat money system.
Over time, this should be enough to make the differences disappear.
Kinesis actually offers an opportunity in that it combines the best of both worlds: the functions of the blockchain enormously enhance the monetary function of gold and open up possibilities that can never be achieved with simple bullion. On the other hand, a stablecoin is created that is superior to most cryptocurrencies from a financial point of view.
For gold bugs who are afraid of counterparty risk, it makes sense to store the majority of their metal safely and transfer liquid funds to the KMS for daily transactions, etc. That would at least be an individual, relatively safe way out of a crumbling financial system.
Overall, however, both sides believe in "sound money" and Gresham's law and are trying to escape the fiat money system.
Over time, this should be enough to make the differences disappear.
Kinesis actually offers an opportunity in that it combines the best of both worlds: the functions of the blockchain enormously enhance the monetary function of gold and open up possibilities that can never be achieved with simple bullion. On the other hand, a stablecoin is created that is superior to most cryptocurrencies from a financial point of view.
For gold bugs who are afraid of counterparty risk, it makes sense to store the majority of their metal safely and transfer liquid funds to the KMS for daily transactions, etc. That would at least be an individual, relatively safe way out of a crumbling financial system.
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