The Evolution of the Gold Standard. (+ $10k Gold Hunt & Free STEEM)

in bitcoin •  7 months ago  (edited)

ABX.com, leading online metals market, stems a new blockchain startup to reignite the gold standard monetary system. Be a part of the change and win $10,000 in gold & silver.
Free STEEM details at end of article.


Every year, every single person gets robbed.

Every currency in the world is constantly depreciating due to inflationary monetary policies adopted by governments across the world. These policies rob people of their wealth as the money they possess is becoming less valuable; this is an implicit robbery that everyone has simply become adjusted to.

Even the US dollar, which makes up the largest portion of foreign reserves across the world, has depreciated nearly 98% over the last century. This loss of wealth does not impact people in equal proportion.

A few are able to dodge the dilemma proposed by inflation; these are people who possess enough initial capital to hire financial advisors and money managers, and have access to lucrative, inflation-beating investments like real estate or private equities.

The majority of the world—the masses—lack the resources to enter inflation-beating investments are left holding ever-depreciating fiat. A vast portion of the masses do end up holding savings accounts, but dust-like returns fall frail against annual inflation rates.

Inflation exists as governments are able to print surplus cash as they needn’t hold anything to back the paper. Things weren’t always like this.


The Superiority of Gold as a store of value is obvious.

The Gold Standard


For the longest part of history, value was transferred through desirable assets. One asset remained as a primary means of value transfer: gold.

Thus, when paper currencies were first issued, they had to be backed by gold. Anyone having a bank note would be able to go to the bank and claim the amount of gold the bank note claimed to be backed by. This long-gone monetary system was known as the Gold Standard.

“Gold is the money of kings; silver is the money of gentlemen; barter is the money of peasants; but debt is the money of slaves.” - Norm Franz

Naturally, the gold standard had severe drawbacks that limited the advancement of global trade. Gold was simply too heavy to move and thus the sheer cost of transferring value was too expensive. Additionally, gold was neither easily divisible nor an easy asset to safeguard.

It was only a matter of time before the gold standard would be set aside in order to supposedly pursue eased cross-border economic activity. This justification is, in fact, reasonable.

However, the inflation—robbing of the masses—that has followed the abandoning of the gold standard, is an issue that cannot be overlooked nor taken lightly. It is the key problem of the social status and wealth gap present in the world today as generational wealth has led to a few being able to beat inflation year after year. Due to compounding, this has led to a snowball effect where wealth has become increasingly concentrated among a few.

Pursuit of Solutions

Many economists have posed resolutions that would curb the deflationary nature of fiat. The problem, however, hasn’t been extinguished as most of the resolutions core around reducing surplus printing. A reduced rate of surplus printing is still surplus printing; it only slows down the deflation of fiat; this is not a solution.

Perhaps, blockchain is the solution.

Rebirth of the Gold Standard


A new fintech project, Kinesis, is creating a gold standard that retains all the benefits of the gold without any of the drawbacks. By tokenizing gold, Kinesis creates a currency that is backed by history’s most steadfast store of value.

Tokenized gold, though, is neither difficult to transfer nor hard to divide. In fact, the very nature of tokens, divisibility and ease of transfer, ensure tokenized gold is able to adopt the most advanced payment technology.

Kinesis is launching a new monetary system, one with its own gold-backed currency, with the payment terminal benefits of the Stellar blockchain, and incredibly low fees compared to established payment networks like Visa. Kinesis includes its own fiat gateway and its own Crypto-to-gold exchange, powered by ABX.com, the leading online physical gold exchange, which is also the sponsor of the Kinesis program.

Thus, Kinesis creates a system that innately allows anyone to mint the currency, as long as they can provide the gold to back it; this gold is then stored at an open network of trusted vault providers. This functions much like a DPoS consensus.

Creating Velocity of Money

In order to combat the problem of good money being held by the masses rather than being spent, Kinesis has created KVTs.

KVT is the utility token of the Kinesis ecosystem. The fees collected through the Kinesis monetary system will be largely given back to the Kinesis community, as long as they hold KVTs along with the gold- or silver-backed digital currencies. As KVTs reward people for spending their money, the masses are incentivized to spend gold, rather than just hoard it.

As the payment system has far lower fees than other e-payment providers like PayPal and Visa, the incentive to spend precious metal-backed coins will be even greater.

Get $10,000 in physical gold and silver to commemorate the new monetary system. This gold may very well be the gold you mint to create your own gold-backed digital currencies, spendable at any point-of-sale system across the world. Meanwhile, your KVTs would earn return the largest portion of the network fees.

$10,000 for YOU

Join the Kinesis community and win gold and silver!
Simply answer the Kinesis Gold Hunt quiz and you’ll stand a chance to win thousands of dollars in precious gold and silver.

Join the competition here.

First Prize: 100 gram PURE 9999 Gold Bar (~$4,300)
Second Prize: 5 kilograms of PURE 999 Silver BAR (~3,200)
Third Prize: 1 ounce Gold Bar (~$1,300)

3 Additional Winners: 10 grams of gold bullion each (~$430)


Free STEEM


You must resteem this.
Answer this quiz. When you are done, you will be taken to a "thank you for participating" message.

Post a screenshot of the "thank you" message, and I'll deliver 1 STEEM to you. 30 people.
Yes, you're getting 1 Free STEEM to participate in a free $10,000 give-away.


Show off YOUR Talents: Win $430

Kinesis is also hosting a competition for video content creators.

Create an interesting video about gold as a currency and win 10 grams of gold worth $430.
Here’s some inspiration for you:




Essential Links


🌐 Website: http://bit.ly/SteemKinesis2
💡 Whitepaper: https://kinesis.money/documents/translations/kinesis-whitepaper-summary-en.pdf
👨 ANN Thread: https://bitcointalk.org/index.php?topic=4502836.0
💻 Telegram: https://t.me/kinesismoney


Connect with me:
https://bitcointalk.org/index.php?action=profile;u=1700741;sa=summary

My
PM Me on Telegram https://t.me/HatuSSS



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Great, Good Luck all.

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Excited to see more and more projects designing Precious Metals based Cryptos initiatives...

There are other projects that tokenized metals, especially gold. However, they failed to provide a means to turn it into a currency: they had no acquisition or payment infrastructure.

That's how kinesis stands out.

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Right said
Due to inflation, the value of currency is depreciating.
Gold is the best financial instrument to look out for with help of Blockchain.

Hello, Have you ever heard of bitcoin mining. For instance with the invest of 1000 USD in bitcoin you will be getting 14,900 USD within 7 to 14days of mining . Intereted
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Gold + blockchain: The evolution of the Gold Standard.

Big facts, time for a new standard

Thanks for the info. The project seems interesting. Gold will always be a valuable product, especially in these times of economic and political uncertainty.

I take it, everyone just walked away from their Gold, and decided to use Paper Currency...
That tells me to look for a $35 Melt Value for Gold, and an 80 Cent Melt Value for Silver...
February 23, 2019... @pocketechange

Well, they had no choice.
Things are about to change.

Oh Boy... I agree that things are about to Change... "Big Time"...

Good article and familiar already to the steemit #steemsilvergold community. We love to keep gold and silver and we even designed a real silver steemit round. Anyone liking the same and wanna join us just tell me and we will see.

Thank you.
It's a nice opportunity for steemsilvergold community members to win some physical gold and silver. :)

i just had a serious WOW moment right now. I was so excited i forgot to upvote the post.... I had to come back and give this an upvote and a comment. Now off to go read about Kinesis! Thanks for the info!

Haha that's the kind of response I seek!

#KINESISGOLDHUNT support this guys.

Sounds like a plan. If someone offered me a gold bar I'd take it and pay for the goods myself we live in a mad world 💯🐒
Untitled.jpeg

I"ll have an order of Gold with a side order of crypto please..

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Wow, I see so much potential in this system. Good luck!! 💪🇸🇷

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Spot on!
It's a whole new monetary system. :)

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What Happened to Bitcoin?
The Bitcoin Core (BTC) network is in trouble due to high fees and slow transaction times. Bitcoin Cash (BCH) is the upgrade that solves these problems.

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Interesting project! Resteemed and here's the screenshot. IMG_20190223_151626_703.jpg

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cada vez más proyectos que diseñan iniciativas Cryptos basadas en metales preciosos

Screenshot_20190223-192310.png

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  ·  7 months ago (edited)

I Enjoyed the Quiz and it was great and I really appreciate it.
Thank You for the Opportunity..
Screenshot (93).png

Glad you liked it.
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Good post @hatu

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Resteemed!
IMG_20190223_131257_646.jpg

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DoneIMG_20190223_152712_235.jpg

Great project IMG_20190223_154339_507.jpg

Screenshot 2019-02-23 11.23.23.png

I have to say Kinesis looks good in general.

That's the correct observation!
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I did:)
Adsız1.png

Adsı1.png

  ·  7 months ago (edited)

Great initiativeScreenshot_20190223-132132.png

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kinesis.jpeg

nice opportunity.
regards

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Thanks hatu

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Thanks you very much

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participated, hope to win
Kinesis.jpg

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thanks you

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done @hatu

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good flatform

Great..

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I wanna be a gold person lady.

This is just awesome <3
gg33333.PNG

Absolutely.
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Done

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Done and i also love thus initiative

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Hey @hatu
voted and reesteemed}
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Screenshot_2019-02-23-23-31-38-836.jpeg

It sounds great

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Interesantisima la iniciativa de volver o intentar esta nueva moneda respaldada en Oro, servirìa de mucha utilidad para las economìas de paìses con procesos inflacionarios muy altos, ya que èsta estabilizarìa la moneda y no permitirìa la generaciòn de dinero inogànicos. Ademàs esta moneda tambièn permitirìa a los desarrolladores e inversores en el mercado criptogràfico procurar altos rendimientos por tratarse de una moneda fuerte dado su respaldo. Muy alagadoras prespectivas.!

  ·  7 months ago (edited)

Wonderful opportunity for steemians.
Screenshot_20190224-013746.png

Also Retweeted you video.
This is the link to my tweet.
https://twitter.com/KinesisGoldHunt/status/1095642217941745664?s=19

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I complete quiz

Aqua Super_20190224_153436.png

That's awesome 😁

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wow

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Done at once

_20190223_120752.JPG

This post has been found valuable and upvote by @joanm897

I really love this

_20190223_120752.JPG

Suspiciously similar to photo above.

20190223_101059.jpg

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as usual, an excellent post

great Information here! It is kind of like Gold Money... Screen Shot 2019-02-24 at 9.08.57 PM.png

Thanks for sharing!

You're welcome. :)
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Thank you :)

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thank you.

Screenshot (704).png

Thank you

rrrtgffgt.jpg

Hello @hatu! This is a friendly reminder that you have 3000 Partiko Points unclaimed in your Partiko account!

Partiko is a fast and beautiful mobile app for Steem, and it’s the most popular Steem mobile app out there! Download Partiko using the link below and login using SteemConnect to claim your 3000 Partiko points! You can easily convert them into Steem token!

https://partiko.app/referral/partiko

  ·  7 months ago (edited)

Surely very attractive,here is reply and screenshot @hatu
Screenshot_20190226-222300_Chrome.jpg

I’m using Partiko to make friends and have fun on the Steem blockchain. You should as well! Here’s my invite link: https://partiko.app/referral/alikhans, you will get 3000 Partiko Points for sign up bonus, and you can exchange them into Steem token

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  ·  7 months ago Reveal Comment
  ·  7 months ago Reveal Comment