Yes, that’s for sure. I stop putting money in it, which was already clear to me before I posted here.
I want to prepare an overview of the portfolio in my portfolio performance sheet, I can post it then.
Out of curiosity - what were the previous investments you did based on your friend’s recommendations? How did they perform?
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I don’t remember everything neither the performance. I started tracking this stuff when I found this website.
But I owned used container which were rented to companies. I had precious woods and there was a robo adivisor (whitebox) which also performed good. last one I have canceled last year and put into VT which I didn’t know that time. Also some fonds. Currently only the metals I mentioned here, the rest has ended.
Apart from investments, they are also taking care about our insurances (private ones and from the company), but ok this has nothing to do with the investments, but I’m also happy with what he does in this regards.
Gives me P&R vibes
Good to know, thanks. Luckily I wasn’t invested their I got every month the rents without exception and after the contract ended, I had to return the ownership and received the agreed money. They were not sea container but “Wechselkoffer” for trucks.
That’s the status of what I bought so far. What I bought at the end of December is not included, yet, I get the invoice when it is in storage.
Also I found this article. Noble/Finomet won the financial advisory awards 2023 in their category. I don’t know if this is really something important, but again, I don’t think it is a scam.
Wirecard wins again at the Emerging Payment Awards | The Payments Association 
I’ll see myself out, sir.
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Good point, still, I trust my guy. In a few months we will know more.
If there was then a use would’ve been found for it. The blockchain concept exists since the 1970s, the implementation for 15 years. Still no use case that makes a shred of sense.
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There’s one original use: to create a crypto currency that is useful for illicit activities.
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SCAM ALERT (no more characters needed)
Not really the same scenario but just as a reminder that scams are always waiting around the corner…
Again:
And here‘s where it gets dodgy:
The „Freeport“ warehouse seems to have its own logo.
Its name alludes to the airport (and its respective operating company) of the same name.
It even has a „Geschäftsführer“ that doesn‘t shy away from public promotional interviews.
Yet you can‘t find any entity (other than Noble BC) that operate it.
And the Geschäftsführer is - or used to, still findable on Google - on LinkedIn as Head of Sales at Noble Metallhandelsgesellschaft.
„With the digital proof of storage, Noble BC offers additional protection against fraud. Because you can see it for yourself when your metals arrive at the warehouse – accurate to the gram. In addition, the storage certificate is your proof that the technology metals and rare earths you have purchased are actually present. Finomet is the digital controller of the use of funds.“
Proof that the things you purchased „are actually present“? You gotta be kidding me, when everything is run by the same group of people. You need independent storage and verification for that to make sense.
„Finomet reflects your entire commodity holdings on the blockchain. This works in a similar way to a land register“ (here)
Except… The land register is a nonpartisan government authority. It’s not run by the same people that sold you the piece of land for profit.
„When storing your precious metals and rare earths, Noble BC relies on bonded warehouses that are audited by Finomet.“
No doubt. So does Finomet claim too: „Die App für zertifizierte Lager“.
„Audited“?
So one company’s depository gets „audited“ by a company that was founded and is managed by the same guy as the other - and you tout that as audited protection?
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Am I interpreting it correctly…You would sell the stuff now and forget about the loss?
All good, I never took it offensive or anything like that. It is a long term investment advice >10 years.
One usecase would be for voting, but then anonymity might vanish, so yeah apart from speculation no real use case so far, that is if you don’t like generated images of monkeys doing gangsta shit.
„you as an investor receive a “token” for every gram of commodities stored“ (Noble BC)
„Um den Handel der Rohstoffe auf der Plattform zu erleichtern, verwenden alle daran beteiligten Parteien nicht fungible Token. Ein Token repräsentiert ein Gramm des jeweilig investierten Rohstoffs“ (Finomet)
A token for every gram of commodity.
A non-fungible token for every gram of commodity.
I don‘t claim to be very well-versed with crypto assets or blockchains. I am however familiar with the economic concept of fungibility. And rare earth metals are definitely a very fungible good.
Using non-fungible tokens to represent (ownership of) fungible goods/assets?
That does not make sense to me. Like… at all.
In fact, it doesn‘t seem to make much sense to themselves either:
„Derzeit arbeiten wir daran, die Handelbarkeit auf den Bereich Kunde zu Kunde, bzw. Händler zu Händler und Produktinitiator zu Produktinitiator zu erweitern. Hierzu müssen wir jedoch aus den nicht-tauschbaren Token (Non-Fungible-Token), tauschbare machen (Fungible Token).“
Side note: That’s also why their claim does (quite literally) not add up:
You receive a token for every gram of commodity? Unless you don‘t:
„Wie viele Token erhalte ich, wenn keine vollen Gramm eingelagert werden? Die von uns verwendeten Token haben bis zu acht Nachkommastellen. Damit lässt sich auch ein Hundertmillionstel eines Gramms als Token darstellen.“ (Finomet Q&A)
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This is their Geschäftsführer’s LinkedIn bio: (25) Experience | Lars Kruse | LinkedIn
TL;DR: he worked in HR most of his career and jumped the blockchain shark with the companies discussed here in May 2022.
No judgement passed based on his CV, but it does not look like Lars, trained as a Diplom-Kaufmann, has any technical or industry background in crypto/blockchain or rare earths trading or custody.
Thus, I’ve created a suitable BS bingo card in mostly Gold (btw also a rare metall …) font:
(no offence meant, I’m just personally amazed about the number of red lights flashing here)
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exactly, firstly the exotic underlying. then the blockchain/nft. then mentioning freeports (pre-emptive disarming), high charges, discouraging of exits (for tax reasons only, of course).
i’d honestly be shocked if it wasn’t an outright scam.
I would have thought the golddigger days were long over. From 2017:
Farmingdale, New York-based beverage maker Long Island Iced Tea says it’s changing its name to “Long Blockchain Corp.” as it shifts its focus to investing in the technology behind bitcoin.
Shares soar 200 in the open percent, although the company says it’s only in the “preliminary stages” of evaluating potential business opportunities in blockchain.