16 Comments

1. John Murphy on Monday, 17 June, 2019 at 6:08 am

   Graham,
   There is one thing I can’t get my head around. On the 4th July 100KBC will buy 1g gold. We know that 1 Unival is 0.1g gold so 10 Unival is 1g gold. On 04 July therefore 100KBC will equal 10 Unival, so 10KBC is equal to 1 Unival. If as you mentioned I had 1,000,000 Unival to store then that would be 10,000,000KBC which would earn 15% a year. However, a Supernode only requires 3,000,000KBC to earn 20% a year. Would love to understand if I have goofed in my assumptions/calculations somewhere. Also, do we know if the stored Univals will receive interest weekly as the Supernodes will once the Mainnet is running?

   • CashMaster on Monday, 17 June, 2019 at 7:55 am

     Hi John, that’s right. It’s a much better deal getting a supernode if you are able. The gold storage vault will be useful though for those that already have gold that they are storing and want to earn interest on it (I do!), plus there are a limited number of supernodes and I suspect they’ll run out quite quickly. That’s a good question on the gold vault interest… I don’t know but I suspect it will be paid annually as you have to store your gold for a full year to earn the interest.

     • John Murphy on Monday, 17 June, 2019 at 10:11 am

       Thank Graham,
       Yes, I thought interest would be paid annually. That prompts another thought. I’m shy of the 3M for a Supernode but was wondering if someone else was in the same position and would be willing to put up 50% so that both parties could take advantage. I’d accept that this may be difficult to accomplish in practice but thought it might be at least worth exploring through a platform such as yours as members here do understand how things might work.

       • CashMaster on Monday, 17 June, 2019 at 12:19 pm

         I’ll mention it in my next newsletter this week to see if anyone is interested.

2. Andy on Monday, 17 June, 2019 at 2:25 pm

   That is a very interesting proposition John Murphy. I don’t know how that could actually be accomplished in order to protect both contributors/parties. I guess that would have to be set up somehow by Karatbars themselves so that the interest would be paid into 2 different addresses from the one Supernode seat. Would they actually be bothered to go to that much extra work if the Supernodes are going to be snapped up? Assuming that all the Masternodes have been snapped up

   • CashMaster on Monday, 17 June, 2019 at 5:14 pm

     There is no way Karatbars would set up split ownership. It would need to be owned by one user and I guess the ‘split’ would need to be sorted out on a trust basis (unless formal legal documents are drawn up, but no time for that probably).

     • John Murphy on Sunday, 23 June, 2019 at 6:50 am

       Hi Andy, I agree with Graham this would not involve Karatbars. It would have to be a separate agreement setting out how the account would work. I know other groups are doing this but as the relationship already exists it is probably easier. I still think this is a useful option that with a bit of thought could be worked out.

3. Paul on Monday, 17 June, 2019 at 4:46 pm

   What is the chances of the KBC price falling significantly after 4th July when some people will sell their KBC?

   • CashMaster on Monday, 17 June, 2019 at 5:15 pm

     People are buying/selling there KBC all the time. July 4th isn’t really relevant to the KBC price as there isn’t a price guarantee on July 4th, the guarantee is for gold.

4. Tom on Monday, 17 June, 2019 at 7:14 pm

   If you store 100000 KBC in the vault, will you get the same amount of KBC back after one or 2 years?

   • CashMaster on Tuesday, 18 June, 2019 at 8:04 am

     I presume you’re talking about the Supernode? You have to store 3 million in the Supernode to get the payments and yes, you can withdraw those KBC whenever you like but you’ll lose the supernode if you do. If you’re talking about the gold vault, if you store 100000 univals in the vault for a year you will get 10% after a year, so you will have 110,000 after one year.

5. Paul on Wednesday, 19 June, 2019 at 10:03 am

   Graham,

   I am not able to sit on my KBC and wait for the price to rise and the other benefits of leaving my KBC untouched as I need that money back to live so what would be, in your opinion, the best way come July 4th to maximise my withdrawal?

   Thanks

   • CashMaster on Wednesday, 19 June, 2019 at 2:52 pm

     You don’t have to wait until July 4th as that is simply the date from which you will be able to exchange 100KBC for 1g of gold. If you need the cash then just sell your KBC on an exchange. If you bought your KBC during the ICO for 0.0067 then you will already been looking at 12x on your money in just over a year!

     • Paul on Wednesday, 19 June, 2019 at 4:43 pm

       No other way to turn the KBCs into gold other than the ATM’s?

       • CashMaster on Wednesday, 19 June, 2019 at 5:22 pm

         If you want physical delivery of the gold it will have to be through the ATM’s.

         • Paul on Wednesday, 19 June, 2019 at 5:32 pm

           Thanks for clarifying things.