Disclaimer – I am now more invested in Kinesis than the last time I wrote, as I’ve been moving some physical metals to Kinesis to buy KVT and mint silver. I am LONG Kinesis. However, this is NOT a paid endorsement, NOR have I been promised anything of value by Kinesis and/or their stakeholders. This is MY experience and MY discovery of a product that I feel will change the face of metals for the 21st century.
Bottom Line, Upfront – I love this system and the below are my experiences and why I feel I am very early to the party and that this product will revolutionize metals.
I firmly believe that Kinesis will eventually replace the COMEX and traditional vaulting, as we know it. To get there, you have a LONG way ahead. And, it’s possible there’s a 5% chance of this happening. Or 95%. In this piece, I want to discuss more with you about why I love the product so much, and what future Kinesis may have that many of you have no idea about. Well, many of you at least.
When I have bought or sold silver on the exchange, I noticed the price is different than spot price. Perhaps $.50 higher? What you find, and understand quickly, is that the silver price on Kinesis IS a free market of discovery. There are bid/ask prices for KAG. And these prices are different than spot prices.
For now, there is a form of a tether to spot. Why? Because there’s an arb opportunity if the price gets too disconnected. For argument’s sake, if spot price is $25 and KAG is $30, you could have an opportunity to move your silver to Kinesis, then sell KAG at $30, then buy silver at $25 – perhaps in unallocated or the like, but there’s an arb opportunity the wider this gets. For now, what this is telling you is that COMEX is the anchor point to KAG, but my suggestion is that over the next few years, KAG can end up being the anchor that moves COMEX.
Why? Well, the big difference here with Kinesis than other metals-backed cryptos (or cryptometals as someone had called it on my Twitter) is that Kinesis uses ABX vaulting from all over the world. And, they pay you yields to mint KAG/KAU (to bring metals in cost me a $.10 premium on the spot price of silver for each ounce) and then hold your metals. You can send your metals in to them to hold and instead of it costing you to vault, they pay YOU.
This here then starts to get a lot of FUD from everyone. “It’s too good to be true”. “where are the audits”. “If it’s free, then you are the product”. This is NOT unallocated. This is fully allocated metals which you can pull off, with as little as 200 KAG in your account. Unlike a PSLV where you need a few thousand ounces to pull out. I’m not talking about the gold here, but that is 100 KAU (grams of gold).
In the end, you may not get a lot to store your metals, but you will avoid vaulting costs and get SOMETHING. All of this is paid for with transaction fees. Meaning, a portion of the transaction fees are essentially covering the costs of vaulting, overhead, and getting you yields. As many more millions of ounces of silver get minted into the system, perhaps the amount you get paid is divided out more and more and you have less yield – but you AVOID vaulting costs altogether.
This concept will have to send chills down the spines of many of my favorite people on Twitter who are in the vaulting business. Rather than looking at the business model Kinesis presents as a superior business model, the only defense they have is to attack the company, people, and integrity of such. Of interest here, is I would like to know what Kinesis overhead is each month versus revenues from transactions. My concern with their business model is…going concern. If everything is based on transaction fees – the velocity of usage becomes paramount to their survival as a company. If I was them, I’d be building out a ton of metrics behind the scenes which deals with number of users, transactions per person, avg revenue per transaction, etc. This would then be overlaid with overhead costs so you can then project profitability if certain targets are met. Something like, “if we collect $10 in transaction fees per month, per person, we are profitable at x%”. I’d also like to know how the tests with Indonesia are going and how that model of getting money paid/transferred is working. Overall, monthly communication to KVT holders could also be extremely interesting so they have a good idea how to value their KVT. I expect each KVT now could buy a starbuck’s cup of coffee each month. 5 years from now, I’d like that to be significantly higher. What is the roadmap to get there?
At the exact same time they are attacking the vaulting companies out there to get their metals and business, the more they get, the more they then risk competing with exchanges. This is a FREE MARKET for PHYSICAL METAL discovery. At this point, I believe the only one on earth available to mass consumers and fans of metals.
Also at the same time, ownership of these metals is documented with a crypto token, if you will. Ownership of this metal is on the exchange, OR stored on the blockchain in your Kinesis Wallet. I was apprehensive about the wallet because I didn’t know how it worked. I was worried I’d not be able to log into it and lose my money. Kinesis had a quick video I watched and it eased my fears. The wallet is stored cryptographically on my machine, and if my machine dies, I then have to re-add the wallet to a new device. They show you how to do this and save your recovery pass phrase. This put my apprehension at ease.
This last part about cryptos then also got me FUD from the people who poured their life savings into Bitcoin. This product, a KAG, promises that you can exchange this asset-backed digital token for silver. Bitcoin and many others do not have any form of backing, just an empty space on a digital register on a blockchain with your name on it. Eventually, the light bulb will go off with a lot of these cryptos and people will understand that they can then use a crypto that is actually backed by money the same they would use others – and that the intrinsic value of these tokens are not zero, but the value of gold and silver.
Essentially, gold and silver are the ultimate stable coin. This is slightly inflationary, but at the rate of human population. Meaning, the money supply grows at the same rate of people, which makes a lot of sense to prevent price swings. I don’t see us mining asteroids for gold in the next 50-100 years, as it is extremely cost prohibitive. Where bitcoin tries to score points as “hard money” – the authors doesn’t take into effect the diminishing supply of satoshis available for purchase over time with an increasing population essentially means the richest of the rich will buy up all supply leaving those without means the inability to afford 1 satoshi. They believe this as deflationary is good, but if 1 satoshi is $1,000 USD and a loaf of bread is $5, you literally run into the same problems of trying to spend gold coins for bread. Get the charts out and do the math. Over time, you will see how this works out. Enough people die off and lose their pass phrases, coupled with an inflationary Fed that causes income inequality, with increasing costs and resources to produce bitcoin, and you then have only people with means available to get them. Or, if they are too expensive, people then turn to one of 9000 other cryptos.
Non-backers of gold and silver would tell you their price swings are too erratic to use as money. The same, exponentially, can be said about bitcoin. However, most looking at gold and silver have no clue that the erratic pricing is due to the futures markets where these items are traded by a fake paper price. If you really looked under the hood, you would see that items PRICED in gold and silver vary little. It’s only the currency fluctuation that is erratic, not the metals priced to anything else. With bitcoin, this erratic movement is not the USD, it’s that it has no intrinsic value relative to anything else, and price discovery is violent for something with no relative value.
Dozens of times I’ve used this analogy. If you wanted to buy a gallon of gas in 1964 with silver Roosevelt dimes, it would cost you $.20, or two silver dimes. If you wanted to buy a gallon of gas today, it would perhaps cost you $3.20. Or, two 1964 silver Roosevelt dimes if you went to the coin shop to exchange for USD currency. Meaning – the price of gasoline in silver is the same as it was in 1964, what changed was that it takes 10x more dollars to buy the gas (or the silver) than it did in 1964. The gas and the silver did not get more expensive in dollars, rather the dollars became less valuable over time due to inflation of the monetary supply and debasement of currency. It takes 10 times more dollar power to buy these things – meaning the dollar is worth 90% less than what it was in 1964.
You are literally seeing debasement of currency increase in front of our eyes. Gold, silver, and everything else is about to rapidly catch up to this, and many people do not understand this. It will require more dollar units to buy gas or silver next year due to debasement. And this is the inflation the fed wishes to use jedi mind tricks on us, yet they expanded the money supply last year so much that it made up 40% of the USD ever created.
In 12 years, we have tripled the money supply.
This is why you see central banks buying gold. Because we are essentially in the process of full out currency debasement, and so is just about every other G7 country. You see the east stocking gold, as they have done for thousands of years.
When I talk about gold and silver relative value to other “things” like oil, it then drives the crypto people mad. They want to tell you about the network. Ask about the security of Kinesis. Try and disparage their crypto team. You even see people attack Andrew Maguire’s previous career. When you have the facts, you pound the facts. When you don’t have the facts, you pound the table. Essentially, what you see is not a real, legitimate conversation on the business model and promise of Kinesis. What you see is temper tantrums by an ugly Twitterverse who finds their investments or their reality threatened – and the only thing they can do is lash out like a child hood bully to get you to capitulate to their delusions.
Bitcoin could go to $1 million. I don’t know. All I can tell you is kinesis is literally selling you pieces of gold, and we KNOW what that is worth, intrinsically. Could bitcoin be a great speculative buy? Perhaps. But it is speculative, where I can tell you the value of one KAG and one KAU and what that can buy in relative terms. This is price information known for 5,000 years. We just simply now have a crypto front end so you could use .06 KAU or .15 KAG to buy a loaf of bread. 50 years from now, that loaf of bread would cost about .06 KAU or .15 KAG. Since bitcoin is valued in dollars, if the value of the dollar goes to relatively zero, it makes your BTC worthless. However, even if the dollar goes to zero, your loaf of bread will still be .06 KAU or .15 KAG.
I will not capitulate to the bullies. In fact, I will scream even louder to give you the case of why this is better. This product threatens so many people, that the problem it may have down the road is not the business model, but creating too many enemies in powerful places that want to crush it. Exchanges, mints, bullion banks, vaulting services, and even crypto land. I find their business model to be revolutionary. And that is going to cause a lot of pain for many people.
My 9:5 is in the tech world. Meaning, technology changes every 18 months. You either adapt or are left behind. In 26 years managing IT, the only constant is change. With my MBA focused in management, I have read hundreds of case studies over 4 years of my management degree understanding how organizations change. There is a constant battle for efficiency.
And Kinesis solves all of the problems with efficiency. If you have a lot of metals, you can vault them with them for no cost and a yield kicker. This may be more appealing then the “unallocated” many people use, which are not really backed by metals. This could reduce the usage of unallocated and thus be an allocated physical store which further drains the vaults. It is efficient with real price discovery with an exchange, unlike the paper-driven COMEX. It is efficient with buying items using the blockchain, unlike using the banking system. It uses REAL money to base the token off of, which is more than just about any crypto out there.
Lastly, the yield system of the KVT is similar to being a shareholder of the company. It’s a private company, so doing this is sort of ingenious. You take 20% of all transaction revenues and split them up amongst the 300,000 KVTs. So if you own 10 KVTs, you then essentially own 1/30,000th of the company transaction revenues (times 20% for KVT yields). At THIS time, the transactions aren’t tremendously high. I believe there are just over 50,000 users. However, this is the long game for me. THIS is where I think it’s at, with many currencies constantly getting debased. Central banks are boosting gold. As many people clamor for sound money again, people will discover Kinesis. Just like WallStreetSilver exploded from 20,000 to 120,000 in a few months with a billboard campaign (of which I was a top 20 contributor), Kinesis will have an explosion of participation as silver goes over $30 and the grass roots of users then talk to their friends and family about it.
I wanted to do a fair review here, and with this, I have also documented some of the drawbacks. MOST of what I’m seeing is attributed to a small company growing rapidly and getting massive amount of users in a small amount of time. It’s a good problem to have, but scaling things like support can be challenging. Having that strong IT background, you also are cognizant that scaling up in size, quickly, can cause massive unforeseen issues.
I didn’t want to do a SWIFT transfer, so I decided to try and do a work around. What I wanted was the ability to do an ACH transfer like I was able to do with OneGold. This is not available yet. I am sort of frustrated that this isn’t available yet, and I’m not sure why it’s not available – or when it will be. I was able to load the debit card first with $1,000 for 2 days, but then it dropped to $500 a day as it would not longer allow more than $500. This would take 3 days to get there, and I was trying to buy KVTs, so it was just sloooooooow.
Eventually, I wanted to mint, which requires to buy 200 KAG with a mint, so I needed to transfer close to $5400 or so into the system. So I decided to try a SWIFT transfer to do it quicker than $500 a day forever. A week ago, I went to the bank, filled out the information given to me by Kinesis. The bank then called later in the day and told me they can’t do it because the account number was associated with another SWIFT account. I then tried to contact Kinesis support by phone and this was NOT a 1-800 number (note: you need to get a toll free number for your support). I had to look up how to call the number, which was in the UK. I then got billed for international calling, and no one picked up the other end because it was outside of their hours. This was on Tuesday 6/22. I also emailed support@kinesis and let them know my issue.
As Weds rolled around, the bank still refused to do the transaction. I did a chat with Kinesis support from their page, and the guy said he’d look into it and then dropped off the chat immediately. I was like…WTF? I then sent another email to Kinesis support, going on 24 hours with no confirmation of the account number I was provided.
*** side note – At the same time, or just before, I was missing $1,000 on my debit card. Remember those $500 transactions I was waiting for? They posted, but my balance on the card was not showing up. I did talk with someone who said he would look into it, and a few hours later it was there – so that was good support. end side note ***
Overnight Weds into Thur a response came in that the number I was provided was correct. 36 hours for any kind of response to a simple question. I was getting a bit nervous – if there were serious issues, would I be able to get in touch with support quickly and responsively?
Thursday I called my bank, and they told me I had to come in again. I then went on Friday, and the same thing happened. They told me their people have flagged it. There was a way forward, but I had to sign a waiver that they are sending money and once gone, they cannot retrieve it. This was $8,200. I signed and as I left the bank, I had a tremendous amount of anxiety start to hit me. What if Kinesis says they never get it? I have all the docs to cover me, but if it never arrives, I could be out a lot of money and have to hire lawyers to retrieve it, which could take months.
Monday, it arrived. Whew! I then converted some to KVT, and then wanted to Mint.
With the minting, it says I could mint to my Kinesis account, but it would not let me. I could only mint to my wallet. I didn’t want to mint to my wallet. Once I minted 200 KAG, I could then only send 199KAG to the exchange to then sell, as there was a cost there of nearly a KAG to send to the exchange. In a sense, that boosted the price another $.20 per ounce or so, to take me to about $.30 premium to a KAG on the exchange. Add then in another $50 or so for my Swift fee and I’m dealing with about a $.50 premium to KAG.
For 200 KAG, that is overhead of about $100 for each mint cycle. If you do this on days when silver takes a beating, like I did, you can recover this on days when silver goes back up, potentially like tomorrow. What I plan on doing is to continue to do this as silver wiggles and waggles its way to $50. Along the way, I am minting and minting and minting. I am looking to get minter’s yields by doing this, without cost to me, by buying on dips and selling when price is $.50 higher. I will keep using the same money over and over. Once I sell, immediately mint. When price is up $.50, rinse and repeat.
So I had about $160 left over in my Mint account, and there was no easy way to get this back to Kinesis, so I asked to send it to my bank account. It said a Kinesis rep would be in touch. Why? Shouldn’t this be a simple means of sending? Am I getting nailed a $50 swift fee? They emailed me this morning and asked me if I wanted to put it into my kinesis account or my bank account. In this email, they were asking for all of the details of my accounts. I believe that should be an option button on the web page, not something I have to fill out to send someone, unencrypted.
What I’m mostly getting at here is it’s a little clunky at the moment to do some of this stuff. If you do one wrong click, you might send money to the wrong place in money heaven. It takes some getting used to. Having been in technology for 26 years, this was a little intimidating for even me. I think a “flow” process works much better than doing this in one app, going back to the other app, putting in a code, then going back to another, and so on. My hope is that this becomes more intuitive to users to relieve the wall of apprehension someone new to crypto faces.
I’m chalking a lot of this up to growing pains and getting better over time – but the business model APPEARS superior to anything on the market, at all. I think with WallStreetSilver, many more people are using Kinesis and want to do things with it – but Kinesis needs to scale up, improve their support responses, and streamline some of these processes to make them more user friendly to those not super tech smart if they want widespread adoption outside of the metals community. I’m an American, and the hurdles I had to do to fund my account were not insignificant. Considering my country has some stupid wealth behind it, making it easy for us to fund our accounts should be the TOP priority of KM immediately. Once the funds were there, I had a blast buying stuff.
I have seen their recent road map on an email sent out to stakeholders. A new website apparently is in the works, and they also discussed bolstering their support. This was AS I was going through my issues, so it seems like they have received a lot of feedback already which led to these things being in the works. That is a welcome sign as well – forward communication to let me know what’s coming! This alleviated some of my concerns in that these things usually take months of planning to do.
It also discussed about how yields will be starting for some, and then gradually moving to others. It would be of interest here to have defined dates, rather than generalities. One of my certs is a PMP, or project manager, and providing these types of generalities isn’t really a best practice with communicating with stakeholders. I want milestones defined. If things slip to the right, communicate. But when you have a wide berth like this, it’s telling me that you are working through issues and have no real idea when you expect things to be done – from a management perspective, I’m not sure you are seeing how this is perceived. I could be wrong. However, with the KVTs I have, I’d like an idea of when this might start. “Between Nov and Dec”? “Between Dec and Feb”? “November 28th”? These milestones should be communicated out and delivered upon. We can understand delays – hell, look at how Tesla buyers stick with them with incessant delays – but not having targets to work with can lead people to think the worst.
It might also be of interest to have portals on the site which show how many users and how much in transaction fees have been collected, by month. This gives potential KVT owners an approximate idea of what their yields may be, based on the user set and transaction amount. Meaning, if there’s 50k users right now and $500k in transaction fees each month, it gives them good information to then understand how much a KVT might yield on 5 million users. I believe they did mention that with the re-design of the website, there will be yield trackers so it is transparent to the users.
I love the Kinesis videos which show the concepts with the cartoons. One of them talked about the KVT and used a goal of 1% of the gold market. I think it would be prudent to re-do this and discuss concepts with the gold and silver market as well as the transaction fees amongst users, debit card, and future potential of Visa. With 300,000 KVTs, a KVT appears almost to be a share in the company. It would be prudent to show where we are currently, to show why a KVT might get low yields now, and show the road map of adoption to how KVTs can really be extremely valuable. I love the CEO of the company – and this is something I’d challenge him to put on his plate.
I had seen where there were about half of KVTs remaining, and with that, it means it would be on the back of the CEO to sell these, in a sense, like an IPO or ICO to some whales out there. This is where I’d be having a conversation with the Eric Sprotts, Keith Nuemeyers, Rick Rules of the world. Get in those rooms. Sprott has PSLV, but imagine where a Sprott then also has 30,000 KVTs to own 10% of a company like this? This is the puck you want to skate to.
With Marketing, they did something genius last year and gave away 2,000 oz of silver. It’s what got me to finally use the platform, when I was given a KAG. While 2,000 oz giveaways aren’t necessary all the time, some marketing could help. I saw the CEO on Palisades radio, but it might be of interest to get on many of the other shows out there to make your face and name well known in the metals and commodities communities. I think there’s an opportunity there with low cost to help contribute to a WallStreetSilver ad campaign, and you can potentially have 120,000 raging fans there. To me, it is almost a no brainer that all 120k of them should have a Kinesis account by now.
With the marketing, one thing I would do on all of these shows is discuss how you have no-cost storage, and it even pays a yield. This may attract some whales, but also get you targeted by the pay vaulting services out there. If you can start to attract more BIG money into the platform, and show them how they can spend their KAG/KAU that is vaulted, for free, they may be likely to then use to this buy toys and stuff to their friends also on KM. This is where you buy a yacht or Rolls with KAU to your buddy for .45% transaction fees. This is also how you fund your business in large chunks with transaction fees. Larger purchases by the few can complement (or perhaps dwarf) many smaller transactions from the masses.
Next, I would discuss the initiate with VISA/Mastercard to be able to pay in KAU/KAG. I don’t know where that’s at now, but I don’t like having to sell KAG to then send to my debit card to buy groceries. This step just costs me money to convert and could prevent more usage. If people could use that card to spend what’s in their accounts, it is MUCH easier than a pre-loaded debit card and shows MASSIVE institutional backing.
Lastly, there’s a fog of FUD around the company with regulation. I know ABX as a bullion company is not regulated the same a crypto exchange might be. You need a full page on your site explicitly discussing the jurisdictions you are in, the regulations you are compliant to, and where you are working to get what acceptance. It might be difficult to get someone to drop $10 mil on your company, at this point, without assurances everything is regulated according to spec. As a US citizen, I’m a little concerned because I cannot use ACH to fund my account. In the white paper and blueprint, there’s nothing about regulation. With countries not having a good feeling about tether and others, you are seeing platforms being shut down based on regulatory issues. That should be a link on your main page, as I couldn’t find regulatory information in a quick search. Doesn’t mean it’s not there, it means when you click on the main page I couldn’t get to it easily.
I did not read the blueprint document in detail, but skimmed. I go to KM and sign in right away. I rarely go to the main page which has a lot of goodies that one can easily overlook because you’re signed in and can’t see it. On their blueprint, they discuss projected financials – what year are we in?
Meaning, if year one is 2022, I can work with that. But if this was conceived in 2018, we aren’t near year 1 yet based on market cap. I bought KVTs with the idea of a long hold to get to the year 5 thing. This goes along with the communication. I like the vision, I just don’t know where we are in that vision. What is the Avg market cap in USD today?
Make NO MISTAKE: I LOVE THIS PRODUCT. But it’s still early on, and my wish list cannot be answered in a week. This, to me, is the future of money and I’d like to help them get there with honest feedback from a devoted fan!
Bye bye COMEX
I imagine a day where silver crosses $30 and gold crosses $2000 again and the generalists start to see continued inflation and the metals start catching a real bid as cryptos diminish. Those involved with silver are now deeply suspect of the COMEX complex, and understand how the paper price has very little to do with investment demand – but more of a price fixing based on the price of producing the commodity itself. The chains that gold and silver have trying to tie them to industrial metals will break as the dollar index runs into the 80s, and then 70s.
What I see is more adoption of Kinesis and other cryptometals. I don’t know enough about the others, but Kinesis has really done end-to-end communication and marketing through YouTube to capture my interest and my business. You have to then start to look at what may happen in 3-5 years.
Many of the wealthy that pay tremendous fees to vault may start to look at Kinesis to store their metals and bring it into the system for yields and no cost to store. Additionally, it’s then pretty easy to spend your metal by simply sending KAG or KAU to someone. Imagine a wealthy person with $50m in gold buying a painting from another wealthy person using KAU. This bypasses banks altogether.
When the wealthy start mass adoption, you will see the vaults fill up. They also post about it in places and then start bringing Joe Sixpack with them. I see a possibility where items may be priced in gold and/or silver at some point, if inflation continues this path. Dollars would not make much sense at some point because by the time the price is dry on the ink you priced it in, the dollar amount will go up. The silver price will not change. Maybe this never happens – but the concept is there for exchange of goods. Imagine a day where Fedcoin comes to be, and they want to tax every transaction, force you into this system where your privacy no longer matters. Why wouldn’t you be able to buy web-based services in KAU/KAG? Why would people not accept it in a highly inflationary environment?
What all of this leads to is a future where the value of gold and silver re-price as money, as things go up in dollars all around. Meaning, if you look at the commodities index against the metals, you can see where constant price manipulation leads the metals to a much lower value, in dollars. I believe the precious metals will break out of this – as the price of gas increases with inflation, it will bring that silver ratio with it, and break the chains of the COMEX rigging.
As this happens, gold and silver will be thought more of as money again. Gold first, of course, but when people realize how dense of a store of wealth gold is, they will see silver as their more practical money for groceries and gas, with gold for large purchases.
Banks are getting squeezed. Lower interest rates forced on them have forced them to charge for all kinds of fees. Margins are tight. Many cannot lend out money they do have because people who need the loans no longer qualify. This has led now to over $800 billion in the reverse repo market. With a Kinesis, and other items on the blockchain doing transaction for a fraction of what a Visa or Mastercard does, banks are now getting attacked by central banks.
I believe all of the hype about gold at $10,000 and silver at $600 by end of the decade. The powers that be have nothing left but talk, and the masses are awakening to the issues at the source. Gold and silver will inch their way back into the every day person. The last 50 years where the governments have tried to convince people that gold and silver don’t exist as money by stripping it out and not talking about it in academia will come to haunt them.
Very little amount of people on this earth have any idea of the reckoning coming in the financial systems. Those that do are doing everything they can to convert paper crap currency into things. And when more masses understand what big money has been doing, this is the catalyst for gold and silver to go parabolic.
And when this happens, “spot” price and futures prices will be relics of old, similar to how uranium spot price is, and is largely ignored by those mining it. The TRUE value of silver will be determined on crypto exchanges like Kinesis. And this is a real threat to them.
Overall, I peg Kinesis at a low to moderate investment risk. I LOVE the business model, but because I love it so much tells me that the risks are institutions trying to sack them in any way they can. While I can envision a future with Kinesis money being THE money of the world, I can also equally see it as a threat to exchanges, sovereign governments, bullion banks, and vaulting services.
My advice to Kinesis is to get some whales on board, ASAP. You need to get in the room with some really big money, and soon. Weekly updates on Indonesia, membership growth, vault storage, etc. Attack full strength using the whales through Twitter and YouTube. You must crush your competition by advancing full strength, and not waiting for a death by a thousand paper cuts of FUD from 83 different enemies. I’d say a marketing campaign needs to start ASAP, and it can be done on the cheap if costs are an issue. Partnering with WallStreetSilver could also be a way forward, to get 120,000 crazy apes looking at your product as a way of storing their massive treasures at no cost to them.
Of interest, IF they do go big, in the next 3-6 months, THEY, along with PSLV, could be responsible for draining world silver reserves at this price and pushing silver past $30 and gold past $2000. And I believe inside of 24 months this product can make COMEX futures prices and spot price irrelevant due to the price on the exchange which will be the anchor point of the true value of silver/gold.