If you participated in either, or both, of the Karatbars ICO’s in 2018 and 2019 and you are holding onto your KBC that you either bought, or received as a bonus with purchases of gold, K1 phones, Profit Packages etc then this update is for you.
By now you should have ALL your KBC in KaratBit. If you still have it sitting on an external exchange somewhere then this is your last chance to get it moved into KaratBit.
On 15th October, next Thursday, all KBC in KaratBit will be converted into the new utility token G999 running on its own blockchain. You will get fewer G999 than you have KBCs currently as they are automatically reducing the supply but the value of the assets will be the same. I don’t know exactly how many KBCs will be converted per G999 but essentially it will be like exchanging four five pound notes for one twenty pound note, or ten fivers for a fifty… you have fewer notes but the same amount of money.
It’s a long and complicated story as to how and why this has all come about but I will attempt to distil it into a summary.
KBC was originally designed to be both a utility token and a security token. This means it could be used as a token to pay for things like exchange fees but was also backed by gold. This would have meant that it had no upper limit to its value, depending on supply and demand, but it would have a lower limit as the value of the gold that backed it.
However plans were forced to change when new regulations came into force in the EU which meant that they couldn’t legally offer KBC as both a security token, which is regulated, and a utility token, which isn’t. It had to be one or the other. At that time it was already backed by over 140 kilos of gold so they paid out everyone that followed the procedure for converting their KBCs into gold via QR codes. Anyone that still holds QR codes will have the gold automatically sent to their Karatbars accounts. This meant that not only did those people (myself included) get an eye wateringly good deal on their gold, it also solved the regulatory issues they had fallen foul of.
Now, Karatbars already had their original gold backed token, the Unival, before any of the blockchain stuff came about. Univals are worth 0.1g of gold each and by transferring univals from wallet to wallet, we could send and receive real gold as a digital asset and also, any time we wanted to get our hands on the physical gold, we could have it delivered.
Univals were a bespoke token on a bespoke platform, KaratPay, but never used decentralised blockchain technology, instead relying on centralised servers controlled by the company.
Fast forward to now and there have been some developments. If you have seen my videos on the Kinesis platform, you’ll understand completely what Karatbars are doing now.
They are essentially moving Univals onto a blockchain and they are going to be paying yields on these tokens in the same way that Kinesis do. They’ve changed the name of univals to V999 (V for Virtual perhaps, and 999 for gold?) but they are still 0.1g of gold each, and you can still get the physical gold delivered if you wish.
More importantly, the gold is held in third party vaults and independently audited every month too.
The V999 platform will launch soon and will give anyone the opportunity to mint gold in exactly the same way I already do with Kinesis… buying it in the minting platform (or Genesis platform as they call it) and selling it in the secondary platform.
All the gold that you mint is tagged to you for life and you will get a portion of the transaction fees whenever that gold is transacted… for life. Exactly as with Kinesis. So you buy gold in the Genesis platform, sell it in the secondary platform, and keep doing it as often as you like, all the time generating a life long passive income for yourself.
Don’t worry if this is beginning to sound complicated, I’ll do videos showing exactly what to do as soon as I can.
So that’s the gold backed coin taken care of. Fully regulated and compliant. But what about the utility side of it? Well, that’s G999. Your G999 coins can be used for a variety of things but importantly if you buy V999 with G999 in the Genesis market, you will get it slightly cheaper, and this is the really clever bit.
Since a lot of people (myself included) will seize the opportunity to mint as much new V999 gold as possible, it makes sense for them to buy the Genesis V999 with G999 tokens. This, in turn, means there is new, and increasing demand for G999. And those minting V999 coins simply won’t care what the price of G999 is because they are only buying it to buy V999, not to speculate on. So buying $1000 worth of G999 with allow them to get $1000 worth of V999 (actually more because they get it at a discount).
But what does all this mean to you, you may be asking?
Well, many of you may be looking to sell some, or all, of your original KBC to realise a nice profit. But if you hadn’t noticed already, since the removal of the gold backing in order to be legally compliant, plus some underhand shenanigans by the developer of the original KBC token, stealing and dumping millions of them onto the open exchanges… the price of KBC fell through the floor. For most people, if they sold their KBC now at it’s current price they would be looking at making a loss (unless they got them as a free bonus).
Of course selling at a loss isn’t desirable, and so with these new developments happening imminently, I can see the price of G999 (the new KBC) finally beginning to increase again as it gets used for the V999 genesis process I described above.
But that’s not all. There is an ingenious twist to this tale.
Whilst I can see G999 steadily increasing in value over the next six to twelve months through the mechanics of the V999 genesis process alone, there is also a cunning plan being hatched by a group of Karatbars affiliates (currently over nine thousand of them) to speed this up significantly. And they’re not just talking about G999 getting back to breakeven price for everybody, they talking about 2x, 4x, 8x and even possibly getting G999 into the top 10 leader board of cryptocurrencies.
Ambitious? Yes. Possible? Well, if their strategy plays out as hoped then… yes. But even if it didn’t get that big, I’m pretty sure most people would be happy with 2x or 4x returns (or any profitable return!).
So what exactly is this cunning plan? Well, rather than me going into that here, I’d invite you to join the group yourself for free and participate. The more people involved, the more chance it has of working. It’s not complicated and you’ll be shown exactly what to do, step by step, on video walk throughs. It won’t cost you anything either.
There are four videos in the group already explaining the process, and I’ll also post those videos below. I seriously recommend taking the time out to watch these if you want to see the value of your assets grow significantly.
The group is on Telegram and is called the Official Price Maker Channel. You can join it here:
And these are the videos:
Not interested in any of this? That’s fine. If you just want to sell your G999s at the earliest opportunity then you can do that as soon as it hits the exchange (I’ll do a video showing you how). But you might just want to hang on for a bit and see what happens to the price before you do. I have a feeling this ugly duckling might just fly.