Due to confusion and uncertainty surrounding the hardfork of KBC and KCB and the coming new coin, Gold Standard Coin, I’ve compiled a list of official sources pertaining to all this.
Please note that Karatbars hasn’t officially announced the details on the merge of KBC and KCB and how much Gold Standard Coins (GSC) you will get for every KBC and KCB.
Details pertaining to the conversion formula of KBC and KCB to GSC on this blog and other Internet sources are coming (as far as I know) from long-time Karatbars affiliates. Where they get this information, I don’t know.
People are looking for official sources and want certainty and that’s completely natural and understandable.
I now realize that this was my mistake to include non-official information even if it comes from people who has been with Karatbars for a long time. I apologize for the confusion that this created. So:
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I mentioned in several articles that after the coins are merged on December 16, 2019, 1 KBC will equal 1 GSC and 2 KCB will equal 1 GSC. This information is coming from one of the top Karatbars affiliates — see here.
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I also mentioned that 1 GSC will equal to 0.14 euros after December 16. This is coming from this article.
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From this point on, I’ll be posting only information that is coming from official Karatbars sources (otherwise I’ll clearly state where the info is coming from).
Anyways, now… the official sources.
Official sources on KBC, KCB, hardfork and Gold Standard Coin
Below I compile a list of official Karatbars sources pertaining to the merge of KBC and KCB and the creation of the new coin — Gold Standard Coin.
1. KCB and KBC when merged will create a gold-backed coin called Gold Standard Coin (Screenshot #1).
- This is coming from the older Karatbars International Presentation: Gold Standard Bank. View it here.
Screenshot #1
2. The new coin will be fully backed by gold (Screenshot #2).
- This as well is coming from the older Karatbars International Presentation: Gold Standard Bank. View it here.
Screenshot #2
3. The hardfork — the merge of KBC coin and KCB coin — will happen on December 16, 2019 (Screenshot #3).
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This screenshot is coming from the “Recent news”.
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To access “Recent news”, in Karatbars backoffice, hover over ”General” and click “Recent news”.
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Screenshot #3
4. After hardfork, the new coin will run on Karatbar’s own blockchain — KaratNet (Screenshot #4).
- This is coming from the current KCB website.
Screenshot #4
5. KaratNet blockchain has been active since September 15, 2019 (Screenshot #5).
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This is coming from the most recent version of Karatbars International Presentation.
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To find the presentation: In your Karatbars office, hover over “General”, click “Downloads”, select your language, and then click “Presentations”.
Screenshot #5
6. KBC is already running on KaratNet (Screenshot #6).
- This, again, is coming from the most recent version of Karatbars International Presentation.
Screenshot #6
I believe the above screenshots cleared some uncertainties for you.
Got a question? Let me know below 🙂
Main references:
www.vahidchaychi.com/how-to-calculate-your-kbc-and-kcb-coins-value-on-the-hardfork-day/
Will this merging of KBC and KCB effect the value of KCB at hard fork?
Hi Thembi,
KCB and KBC will merge together to create one new coin.
So there will be no KCB anymore after hardfork on December 16, 2019.
What is the price of the new coin going to be?
It is said that at the beginning it should be 0.14 euros, which is what the price of KCB today.
🙂
Why is karatbars.com down?
Hi Lucky,
I see that the website is back now.
Sometimes it’s down for maintenance and upgrades. But usually it’s only for short periods of time 🙂
entonces el nuevo coin estara disponible en el mercado el 16 de diciembre ?
Hey Edouard,
You are asking if the new coin will be available on the market on December 16?
Yes, after December 16, it should be on exchanges and available publicly as far as I know 🙂
Hi Margarita
Do you know on which exchange GSC will be listed?
Hi,
On Karatbit, of course.
And I’m guessing that GSC will be automatically listed on all exchanges which KBC is currently listed on.
KBC is currently listed on Coinsuper, Coineal, Bitforex, Hubi. See more exchanges here.
Again, that’s my guess; so may not happen 100% 🙂
Il kcb è stato pubblicizzato come primo coin che andrà in borsa..precisamente quella di Francoforte
Hey,
The kcb was advertised as the first coin that will go on the stock exchange .. specifically the one in Frankfurt?
Hmm.. we’ll see what happens. Thank you 🙂
Considering we are days before the merger, is there an official answer on the conversion rate of KBC and KCB to the new coin? Or equation which will be used… i think this is very unprofessional to not include this information to investors…
Good evening,
I’m sure Karatbars is working on improving their communication with everyone who is associated with them 🙂 Let’s just give them more time.
As far as I know it’s almost certain that:
1 KBC = 1 New Coin (GSC)
2 KCB = 1 New Coin (GSC)
Other than that there is no new information that I’m aware of.
Thank you for visiting 🙂
Hello
So the hard fork is tomorrow?
And the affiliates with the packages gonna have there KCB in KBC already in karatbit?
Hi Johnny,
Yes, according to recent news, it should be tomorrow.
If you see any KBC or KCB coins in Karatbars dashboard (look under ‘Dual Team system’ section), then make sure your Karatbit account is linked to your Karatbars.
Once it’s linked Karatbars staff will transfer all your coins to Karabit so that all your coins get converted to a new coin.
See how to link Karatbit to Karatbars.
If you have your KBC or KCB coins in some other exchange or wallet… Follow these general directions to transfer the coins. Make sure you transfer your coins today (Dec 15) since the hard fork is tomorrow (Dec 16).
Let me know if you have any other questions 🙂
What if unable to transfer my coins by 16th December can l still convert later
Hi Steven,
I don’t know what will happen with these coins if you don’t transfer them.
I know that Karatbars asked all affiliates and customers to link accounts so that the coins can be transferred.
What is reason you can’t transfer?
If you have KBC or KCB coins in Karatbars dashboard (look under ‘Dual Team system’ section), then go and link Karatbit account to your Karatbars account.
Once they are linked Karatbars staff will transfer all your coins to Karabit.
See how to link your Karatbit account to Karatbars account.
If you have KBC or KCB coins in some other exchange or wallet… Follow these steps to transfer the coins.
Make an attempt and transfer them 🙂
Let me know if you have any questions.
Hi Margarita
I have not been able to link my kgit acc to my kbar acc as I cannot access the kbit settings as I do not use 2factor authentication. Cannot do this at the moment only late pm on the 16th.
Hi Patrick,
Thank you for visiting 🙂
Hmm… 2FA is mandatory feature now if you want to do anything of value in your Karatbit account.
You want to have your KBC / KCB coins converted to a new coin, right?
1. So I’d activate 2FA now.
2. Then link your Karatbit account to Karatbars and you are done! Karatbars staff will transfer the coins to Karatbit for you.
Just do it today — it will take 15-20 minutes. Let me know if you have any issues and I’ll help you 🙂
Hi their. Did the Hardfork happen 18 Dec? Or another delay exscuse?
Hi Brenda,
The hard fork process began on December 16.
You can start exchanging your KCB to KBC (new coin) starting December 21, 2019.
See the timeline here 🙂
All a big scam methinks
All is a big blessing I think 🙂
Good day, New to Karatbars!
Myself and husband joined about 2 weeks ago. I just want to find out, and would much appreciate if someone could assist with the correct answer. We joined more for the investment and not for the business side.
My question is, WHEN CAN WE WITHDRAW?
First they said on the 16th of Dec, then that didn’t happen, and then they said 21 Dec and now it sounds like the 5th of Jan?? can someone just please assist.
Thanks in advance ??
Hi Zelri,
Okay 🙂
You and your husband are looking to withdraw KBC (‘new coin’), correct?
According to the hard fork timeline, on December 21 (tomorrow)… On Karatbit you will be able to use the ‘exchange’ feature and exchange KCB for KBC.
Then, on January 5 and onwards you will be able to withdraw these ‘new’ KCB coins (or deposit or trade them).
So, according to the current timeline, you can withdraw on January 5.
Read this article I just posted — it should clear things up.
Let me know if something is not clear 😉