Karatbars Scam

by CashMaster | 17th July, 2019 | 6 comments

I’ve received a number of e-mails over the last week or two about the latest developments at Karatbars, and concerns over rumours circulating about it being a scam.

I’ve been hearing this ever since I first got involved with Karatbars, and indeed, Karatbars has suffered such rumours its entire history.

The problem with the internet is that there just isn’t the level of fact checking we’d expect from the likes of, say, the BBC before a report is published and, just as with mainstream media, bad news always sells more than good news.

More often than not people will make assertions that are personal opinions based on misinformation, and express them as if they are facts. Once this is published as ‘fact’, this then holds weight, even if there is no evidence to back it up.

This has become a global issue now, and no doubt will be something historians will write about for future generations, how social media algorithms have created an enforced cognitive bias that moulds the very society we are now seeing develop.

I am genuinely disheartened by the growing number of online communities arising that embrace Flat Earth, Hoax Moon Landings, Chem Trails, Anti-Vax, Alternative Medicine etc. as well as an increasingly extreme and divisive political environment, most of which I believe is at least aided by the positive reinforcement social media algorithms perpetuate. Critical thinking seems to have given way to lazy acceptance of whatever our media feeds are telling us.

And it’s not good.

The problem is that these ‘scam’ articles and videos stick around. For example, in 2014 the AMF in Canada, (like our FSA), claimed Karatbars was a scam. Karatbars took them to court over it and won in 2016, and they apologised. This apology and retraction never made the news of course and if you Google Karatbars you can still see the ‘Banned in Canada’ stories.

As you probably know, I set up CashMaster precisely to get the facts about products and services so that we don’t have to rely on snazzy sales pages or dubious forum posts to be able to form a more reliable opinion on something based on the data itself.

And this has been the case with Karatbars, as with all other products and services we review.

I have seen videos online, created by people that have never been involved with Karatbars, never met the CEO Harald Seiz, or Josip Heit, or Ovidiu Toma and literally don’t know the bare basics of the business development structure, nor the milestones achieved to date, nor the plans in progress for the future, yet they feel qualified to give an accurate assessment of the intentions of the company.

I do note, of course, that creating a YouTube video with the word ‘scam’ in the title, or indeed a blog or forum post, will receive a lot more traffic than normal, and so I’m always slightly suspicious of the true motivations of the people creating them… as more often than not they are simply using ‘click bait’ to increase their own exposure. (Yes, I know I used it to encourage you to read this post… see, it works!)

Well, I have met and spent time talking with Harald Seiz and Josip Heit in person, and I’ve spent probably close to an hour chatting with Ovidiu Toma who created KaratNet which is going live in October.

I’ve seen everything they planned happen, on time, and I’m also aware that some information is kept private purely for commercial protection as what they are attempting to build here could also be achieved by other, much bigger well established corporations.

Of course there will always be conspiracy theorists who take this lack of transparency in certain areas to mean they have something to hide. Well, it’s true; they do have commercial secrets, like any other big company. That’s why ‘garden leave’ was invented.

But yesterday things changed.

Over the past couple of weeks the ‘Karatbars is a scam’ rumours have been spreading, fuelled by sponsored advertisements on Facebook by someone with an axe to grind. The current attacks seem to be centred around trying to say Karatbars head office doesn’t exist, Karatbars has no access to mines, the Miami and German companies don’t exist, no one stole any KBC coins and Karatbars has not fulfilled its promises in the whitepaper.

A lot of this stuff Harald didn’t want to reveal due to operational reasons and because he didn’t want to give the competition too much commercial information.

He has, however, decided to take on these people and has released the following document which answers every question head on.

You can read the full 30 pages of facts at here:

Karatbars Statement

Everything is there including official company registration documents and certificates from the mine in Madagascar as well as details of a prosecution he is taken regarding stolen KBC coins that scammers have been dumping.

It’s worth noting that Karatbars have been in business for eight years now. They work with MasterCard and FedEx both of whom have strict due diligence procedures in place. In that time every customer has had every gram of gold delivered and not one commission payment has been wrong or late in the history of the company.

My Opinion

Now, quite a few people have asked my personal opinion on how I think this will all play out. Please remember, this is my opinion. I’m not stating facts (unless I know it to be a fact) because, as I’ve just explained, I think too many people express their opinions as if they were facts and it doesn’t help anyone.

First of all, anyone that invested in the KBC ICO can sell their coins now and make at least 600% profit, and that’s even now after the KBC price has fallen following the coin dump. (Fact).

I actually sold a few myself when the price hit 10c, but only a small amount to test the trading and withdrawal mechanism at Karatbit.

Secondly, a lot is happening over the next six months. In September the ‘Hardfork’ of KCB and KBC into the new mainnet coin happens, and in October the mainnet or KaratNet goes live (Fact).

This is a massive achievement as this will be the fastest, most technologically advanced blockchain in the space, on which everything will run including KaratBit, K-Merchant, K1 Phone, and future projects soon to be announced.

So I’m holding onto the vast majority of my KBC until the end of the year. In fact, I’d be perfectly happy for KBC to remain as low as possible before the merge with KCB in September as then I will get more of the new KBC. If the KBC price is at 14c in September then I’ll get 1:1 for my KCB holdings. But if it were close to the spot price of gold, I’d only get a third of the new KBC for each KCB. Even better, if KBC remains at today’s low rate then I’d get 3 of the new coin for every 1 KCB!

Additionally, they apparently have gold traders in Hong Kong lined up to trade gold on KaratBit when it launches on mainnet. This should provide a lot of liquidity and therefore the price of gold (univals) on KaratBit could very quickly begin to reflect the global spot price, as the traders will be making best use of any differences! And if that happens, KBC should then mirror the UNV price as again, any arbitrage opportunities would be quickly absorbed by traders.

At the same time K-Merchant and the K1 Impulse Phone will also be running on the mainnet, making KBC an actual useful utility token as opposed to simply a speculative asset as it is now, and this too should drive up the price as people will need KBC in order to use these products.

So my opinion, based on my personal experience with Karatbars, is that this is an astonishing opportunity that will be extremely successful. I don’t, of course, have a crystal ball and it may not work out the way I foresee, but that’s the same for everything that I choose to get involved with.

I was told back in 2015 that BitCoin is a scam and a ponzi scheme. Back then it had already just lost 80% of its value (From $1000 to $200), and people were bailing out as I bought into it. Last year I was told BitCoin is a scam as it lost 80% of its value ($20,000 down to $4000). Today it’s at around $9000 and I genuinely believe it will hit $100,000 before the end of next year (hint… if you don’t have any you may want to consider acquiring some). Of course, if it ‘crashes’ from $100,000 down to $20,000 after that then I wouldn’t be surprised, and of course I’ll be told it’s a scam.

Karatbars have been in business for eight years. You can visit the head office in Stuttgart if you like. So far they’ve done everything they’ve said they would do and I genuinely believe the next two years we will see some incredible things happening following the launch of mainnet.

Over those years there have been people claiming it’s a scam, and I suspect over the next eight years there will be people claiming it’s a scam.

Just like Bitcoin.

The current offers on the K1 Impulse phone ends tomorrow, Thursday 18th:

€2500 K1 pack gets you a K1 phone and €5000 worth of KCB.
€5000 K1 twin pack gets you 2 K1 phones and €10,000 worth of KCB.

You are effectively getting paid to receive a state of the art, Voice over Blockchain satellite Smartphone!

Full details available here

Karatbars Q&A with CEO and founder Harald Seiz

by CashMaster | 11th July, 2019

You can get more information here.