Lately we’ve seen anonymous parties on the Internet attacking Kinesis with a series of claims designed to make the system look unappealing or untrustworthy. Those of us who understand Kinesis find it exhausting to try and combat the same “inaccuracies” repeatedly, so this is my place to do the following:
- Explain what Kinesis is, and what it’s not
- Explain how it differs from the other alternatives to traditional banking
- Confront the FUD that’s being slung at Kinesis with references, in a way that’s easy to link to in the future.
Most of the misinformation we’re seeing is being targeted at the traditional “stacker” community – those folks who purchase precious metals as a percentage of their overall portfolio as insurance against the systemic risks the are prevalent right now.
So, here we go:
What is Kinesis, anyway? Why should I care, and what role does it serve?
How does Kinesis differ from the “paper” metal investment options we’ve learned to loathe?
Kinesis uses a blockchain – how do I know it’s not the next FTX?
How on earth can anyone believe you can receive a yield on metals that just sit in the vault? How is that anything other than metals leasing or a Ponzi scheme?
Transfer fees sound like a rip off.
I’ve heard bad things about the audits. Are they even legit?
What about the Cayman Islands thing? That means they’re shady, right?
Well, why on earth would one company have such a convoluted mix of international companies, anyway? That’s just about tax evasion and hiding ownership, and other shady stuff, right?