🔥🔥[ANN] Cointed ICO | 180 mio$ revenue | 100k GPUs | 100+ Bitcoin ATMs 🔥🔥

[ENS]

Hey!

I am almost ready to invest my hard earned ETHs

But, it sounds to good to be true:

I assume your ICO is legit (like all ICOs of course), but just to be sure can you please share.

1.) Partnership agreement with Nvidia (you must be the only mining company that has one, very impressive)

2.) Please send proof/pictures of your two mining locations with +100.000 GPUs. (Picture of the location, pool performance, etc.. you know how to this works) And please explain your mining portfolio and in what kind of hardware (exept the 100.000 gpus) your 30 million (!) USD was invested in.

3.) Please puplish a lis of you +100 ATM locations. For some reason I did not found it online.  

4.) As your company is on its way to success, can you please puplish your companys balance sheet.

I would have lots of other points that I would be intereste in.. but lets wait if you can accomplish the first 4 bullet points.



with crypto love
ens

1) sorry we are not allowed to talk about this, so we can neither deny nor confirm
2) We will upload some proof in the next hours that will satisfy you, we promise, just hold on a bit please
3) https://atm.cointed.com/atm-en/ Not all are listed yet, but we are adding the rest to the list as fast as we can.
4)  I am sorry, we can not do this at this point, we will think about how we can provide you further proof

please ask more questions in the mean time, I  will address as many as I can and forward the rest to the team, they are just very busy right now dealing with all kind of inquiries.

Okay, so you are saying that you would like to do an ICO and collect cash (120m) but you are not able/willing to prove any of your claims and share anything with anybody?

Lets just go through the bullet points:

1.) You claim that you have developed mining hardware with Nvidia. I ask for prove and your answer is that you are not allowed to talk about. Well, you did talk about it because you made the claim in the first place. So if you would have an confindentiality agreement you would already have broken it. The only thing you did not do is deliver proof for this unrealistic claim. (Everybody with basic knowledge about Nvidia/Mining/Graphic-card development understands that a claim like this is out of the air.

2.) So you have prepaird your ICO but no due dilligende files about yourself? Sounds strange, but I am waiting for your "uploads"

3.) The link you provided (https://atm.cointed.com/atm-en) shows 29 ATMs on 18 locations. You claim to have 100+ locations.
If you would have 100+ locations would be able to provide a simple excellist with all adresses in a hearthbeat.

4.) Why can you not do this? Company balance sheet are by law publicly accessable in austria. If you are not willing to share the most basic documents I can help you out. Your baance sheet of 2016 shows Euro 36.250.- as sum and your profit for 2016 was Euro -55,24.-
Now I understand why you are collecting money I can post a screenshot if needed, but I think you dont wana see that.

People in the crypto community can do basic research and are usually older than 3 years. You can not make up a small business with wild claims and big names such as Nvidia and Generalbytes (your partners)

Well it is interesting what your "partner" General Bytes is saying about you:

https://www.generalbytes.com/cointed/

I dont think that your Partner "Nvidia" will comment on that matter at all.

Looking forward to see more of your exiting ICO Information.

br
ens

[cointed_official]

Hey!

I am almost ready to invest my hard earned ETHs

But, it sounds to good to be true:

I assume your ICO is legit (like all ICOs of course), but just to be sure can you please share.

1.) Partnership agreement with Nvidia (you must be the only mining company that has one, very impressive)

2.) Please send proof/pictures of your two mining locations with +100.000 GPUs. (Picture of the location, pool performance, etc.. you know how to this works) And please explain your mining portfolio and in what kind of hardware (exept the 100.000 gpus) your 30 million (!) USD was invested in.

3.) Please puplish a lis of you +100 ATM locations. For some reason I did not found it online.  

4.) As your company is on its way to success, can you please puplish your companys balance sheet.

I would have lots of other points that I would be intereste in.. but lets wait if you can accomplish the first 4 bullet points.



with crypto love
ens

1) sorry we are not allowed to talk about this, so we can neither deny nor confirm
2) We will upload some proof in the next hours that will satisfy you, we promise, just hold on a bit please
3) https://atm.cointed.com/atm-en/ Not all are listed yet, but we are adding the rest to the list as fast as we can.
4)  I am sorry, we can not do this at this point, we will think about how we can provide you further proof

please ask more questions in the mean time, I  will address as many as I can and forward the rest to the team, they are just very busy right now dealing with all kind of inquiries.

Some updates as promised:
2) Some images of the construction of our farm, https://imgur.com/a/xjiem
4) Let's tell you the whole story.
First we operated through an entity that doesn't require a balance (OG). Then we did a merger. The first balance of the new entity is only due at the end of the year. So we can not share that with you yet, you will have to wait until the end of the year. In any case the result of the Hong Kong based mother company is what really counts

[cointed_official]

What payment service provider will your cards have (Visa, AmEx ... ? )
Where your organization was registered and which bank serves your account?

Hey,

Visa
Hong Kong, one of the 5 mayor banks in the world

[ENS]

Hey!

I am almost ready to invest my hard earned ETHs

But, it sounds to good to be true:

I assume your ICO is legit (like all ICOs of course), but just to be sure can you please share.

1.) Partnership agreement with Nvidia (you must be the only mining company that has one, very impressive)

2.) Please send proof/pictures of your two mining locations with +100.000 GPUs. (Picture of the location, pool performance, etc.. you know how to this works) And please explain your mining portfolio and in what kind of hardware (exept the 100.000 gpus) your 30 million (!) USD was invested in.

3.) Please puplish a lis of you +100 ATM locations. For some reason I did not found it online.  

4.) As your company is on its way to success, can you please puplish your companys balance sheet.

I would have lots of other points that I would be intereste in.. but lets wait if you can accomplish the first 4 bullet points.



with crypto love
ens

1) sorry we are not allowed to talk about this, so we can neither deny nor confirm
2) We will upload some proof in the next hours that will satisfy you, we promise, just hold on a bit please
3) https://atm.cointed.com/atm-en/ Not all are listed yet, but we are adding the rest to the list as fast as we can.
4)  I am sorry, we can not do this at this point, we will think about how we can provide you further proof

please ask more questions in the mean time, I  will address as many as I can and forward the rest to the team, they are just very busy right now dealing with all kind of inquiries.

Some updates as promised:
2) Some images of the construction of our farm, https://imgur.com/a/wf85K
4) Let's tell you the whole story.
First we operated through an entity that doesn't require a balance (OG). Then we did a merger. The first balance of the new entity is only due at the end of the year. So we can not share that with you yet, you will have to wait until the end of the year. In any case the result of the Hong Kong based mother company is what really counts

Hey Thx a lot for your update!

Let me commet on your updates:

2.) your mining farms with 130.000 GPUs:
One pictures you uploaded we see a storage room with a few hundred mining rigs (multipled with 8 graphiccards). That means on the pictures we see around 3-5k graphicards, and none of them is running.

So you claimed to have 130.000 GPUs in multiple mining farms.
But you really have a storage room with 3000 to 5000 GPUs THAT ARE NOT MINING but just sitting there and losing value.
Well, congratulations to your "mining farms"

4.) That is not correct, the first balance was due on 31.12.2016 and you did puplish it. And it says exactly what i descriped.

You claim to have 100m turnover in 2017
But you really can prove 35.000k with a lose of Euro 55.- in 2016.

They claim that everything is owned by your Hongkong limited is worth nothing because it is a limited. As you know limited stands comes from "limited liability" That means it is worth nothing expept you can prove assets in this Ltd.

And your claim that your Austrian Cointed GmbH is been owned by your Hongkong limited is also false. The ownership is as following as of today:
Rieder Christopher(Anteil: 90 %)
Thaler Wolfgang (Anteil: 10 %)

[MrBitco.in]

aaaaand another most likely scam ico without a real usecase for an ico. Hello ico #10055225585 of this year

They used GENERAL BYTES products, claim it to be their own design and make promises of features that GB will never develop. They further want you to invest in their Hong Kong Ltd that is basically an empty shell as all business is done via their Austrian based setup. All ATMs we've sold to cointed have been sold to their Austrian Gmbh and not the HK Ltd. The Hong Kong Ltd has zero ATMs.


https://generalbytes.com/cointed for more info.

[cointed_official]

aaaaand another most likely scam ico without a real usecase for an ico. Hello ico #10055225585 of this year

They used GENERAL BYTES products, claim it to be their own design and make promises of features that GB will never develop. They further want you to invest in their Hong Kong Ltd that is basically an empty shell as all business is done via their Austrian based setup. All ATMs we've sold to cointed have been sold to their Austrian Gmbh and not the HK Ltd. The Hong Kong Ltd has zero ATMs.


https://generalbytes.com/cointed for more info.

Dear Martijn Wismeijer, employee of General Bytes:

We deeply regret that you and Karel choose to take this course of action.

It is hard for us to see why you felt the need to end our business relationship in this way, considering that we were one of your biggest customers in a long and productive cooperation.

As we have explained - and you conveniently ignored time and time again - the Cointed Ltd. is the parent company under which a number of Cointed companies worldwide are being opperated in Tokyo, Zug, Malmö, and yes, the Austrian Cointed GmbH. It seems obvious to us that you are delibertely misunderstanding the company structure.

From our companies in Hong Kong and Tokyo, Cointed plans to expand into the Asian market with, among others, Multi-Cryptocurrency ATMs on a large scale. Those ATMs have already been developed and working prototypes are already available: https://imgur.com/a/COt41

We felt the need to take this step of producing our own ATMs, because it was obvious to us that General Bytes was not up to the task to provide high quality products on a large scale. As I am sure you recall, we asked you to be our partner in creating a better product. Unfortunately, you declined. Therefore, we decided to make the best product possible with the experience we collected over the last years.

We think that in an open market the appropriate way to act towards competition would be to try to offer a better product or service, instead of making easily disproven accusations.

We respect your stance towards ICOs as your own personal opinion on the matter. Hundreds of thousand members of the cryptocurrency community think otherwise. Be assured that Cointed will take appropriatelegal action against these allegations which will have severe consequences.

If any concern arise, we invite everyone from the community to contact us directly at ico@cointedtoken.com

[Doozle]

Do your own research on this ico/company it shows signs of a scam.

[cointed_official]

Do your own research on this ico/company it shows signs of a scam.

Greetings

Could you please be more specific? We would be glad to help clear up any concerns that might arise .

[cointed_official]

Hey Thx a lot for your update!

Let me commet on your updates:

2.) your mining farms with 130.000 GPUs:
One pictures you uploaded we see a storage room with a few hundred mining rigs (multipled with 8 graphiccards). That means on the pictures we see around 3-5k graphicards, and none of them is running.

So you claimed to have 130.000 GPUs in multiple mining farms.
But you really have a storage room with 3000 to 5000 GPUs THAT ARE NOT MINING but just sitting there and losing value.
Well, congratulations to your "mining farms"

4.) That is not correct, the first balance was due on 31.12.2016 and you did puplish it. And it says exactly what i descriped.

You claim to have 100m turnover in 2017
But you really can prove 35.000k with a lose of Euro 55.- in 2016.

They claim that everything is owned by your Hongkong limited is worth nothing because it is a limited. As you know limited stands comes from "limited liability" That means it is worth nothing expept you can prove assets in this Ltd.

And your claim that your Austrian Cointed GmbH is been owned by your Hongkong limited is also false. The ownership is as following as of today:
Rieder Christopher(Anteil: 90 %)
Thaler Wolfgang (Anteil: 10 %)

Concerning our Mining Farm, there seems to be a misunderstanding. Our graphic clearly states that 130k GPUs are on the roadmap for Q4 of 2017. Contracts with various suppliers for this volume have already been signed.

At the moment Cointed operates GPUs with a combined ETH Hashrate of about 400 GH/s in not only this mining farm in Sweden, but Austria as well. An additional 10,000 GPUs are being installed as we speak.

It should also be noted, Cointed does not only provide mining, but also sells the mining hardware AND software (such as in-house developed BIOS and operating systems) to customers and businesses alike.

Since Cointed has repeatedly been target by large scale DDOS attacks - after expanding throughout Europe and becoming a high profile mining company - Cointed now mines in private pools. Any mining company of even moderate size will be able to tell you that this is best practice behaviour.

Your comment that the GPUs simply lie around and are not operating seems odd, since those are clearly pictures of the assembling and set-up process, which our customers are extremely interested in.


As for your concerns regarding the company's status as an Ltd and other points, it seems rather obvious that there is a lack of knowledge regarding corporate structures and taxation in general.

The Cointed OG existed until 2016. The Cointed GmbH, has been operating since the beginning of 2017, which is why there obviously cannot be a annual balance sheet yet. We invite anyone to check the annual balance sheet of the company, which will be publicly available at the beginning of 2018, while the ICO will still be running - if it has not been sold out by that point!



Hope this helps clear a few things up!

[Fl0M0]

Most of us in the community realized the ICO thing became ridiculous. Every random unsuccessful company is doing or planning an ICO. The ICO just became a kickstarter for startup and/or people trying to get free cash.
This thing here is even more absurd. I have read their stuff from time to time as a really active person in the crypto landscape, but purely to entertain myself. You can’t take them seriously. The only reason I am writing here and started to research a bit more is that the impudence to fool people.
Before they were just minding their own business inside their MLM scene. Those people should stay where they are and stop trying to get into the real world with their practice.

First of all, look their website. It is clearly shitty, but nevermind. It is not a fact, it is just my opinion. I will try to stick to facts that anyone can research themselves.
Their slogan was (until spring time or so in 2017) “Cointed – Der vertrauenswürdigste Bitcoin Händler Österreichs” -> Cointed – the most trustworthy Bitcoin vendor/merchant in Austria”
… I am not joking.

The only business they have is their ATMs. Regarding this, the statement from GB speaks for itself: https://www.generalbytes.com/cointed/
This is absolutely consistent with my impression that the Cointed member don't have any technical competence themselves.

I can only recommend going through their posts on Facebook and their former thread on bitcointalk:
https://bitcointalk.org/index.php?topic=1351953.0
Unfortunately, they deleted everything. … for a reason. The answers in there where pure gold. They were operating something without knowing that they constantly violated anti-money laws. It was a mixture of incompetence and telling everyone that they should not go in this industry without any knowledge without knowing it themselves.


Nonetheless I told you I researched a bit after reading the statement of GeneralBytes, who are a well-known and respected company in the industry.
Another alarm bell is there freshly incorporated HongKong Ltd. Apparently, someone told them not to do this ICO scam with an entity in Europe, because I don't think they are smart enough to find it out themselves.

Not that I did not even find one innovative thing in their ICO (by the way, launching the shitty Wavecrest PREPAID card with the same shitty conditions that has been on the market forever is not an innovation. Apart from your actual announcement to launch this standard product in early summer this year, you are two years late for this anyhow.), I have also found some interesting numbers within their key figures:
-   180M revenue -> apparently, they don’t even know the difference between revenue and turnover
-   ATMs with 4% margin, but a net profit of 5% -> well… interesting.
… I will spare you with every inconsistency in their offering. It’s not worth reading the stuff anyways.

But here are some facts that are really amusing:

Alexa Website rating of their website cointed.com:
Global Rank: 124,717 (even now after ICO ads have started)
Rank in Austria: 2,113
Everyone who can interpret this numbers know that their website is pretty much non-existing in the industry and has no relevance. They do not have on app, meaning their numbers in their ICO are 100% fake.

They are using their Facebook for their news and posts (look at their pictures, the location where they place their ATMs and the content in general… pure gold, believe me). But as I was going through their Facebook page I have realized that they have 21,630 Facebook Likes. After I saw the Alexa numbers before, I knew this was fake. But this time, it was more ridiculous then I expected.
I immediately realized that they barely have any interaction on their posts, especially for their 21,630 likes.

Here are the numbers where their Facebook Page Likes come from (top 5):
1.   Uganda – 6,916 // 32.22 %
2.   Nigeria – 6,039 // 28.13 %
3.   Egypt – 5,606 // 26.12 %
4.   Austria – 1,283 // 5.98 %
5.   Germany – 772 // 3.60 %

Now you could say, “Wow they are really big in a brand-new market: Uganda, Nigeria, Egypt”. Well, I got bad news for you: The website has 0 visitors from these countries.
Then I thought, how stupid and incompetent do you need to be to buy more than 90% of your FB Likes!? Well, they seem to be not the smarties cookies in any field. They pretty much destroyed their own Facebook Page without having a clue what they did until today. But when I was about to think this was the absolute climax they surprised me again:
Here they are celebrating their fail by buying African Likes with a meme:
https://www.facebook.com/cointed/photos/a.1030649583667871.1073741828.986732868059543/1343514402381386
“… woooohooo 10k likes… you guys are fantastic”
A week later they posted another meme, celebrating 15,000 likes. After they reached 20k Likes within a few days (before buying the fake Likes their page had around 200 Likes). This 20k increase happened in February. You can do the math.

I also found this article from an Austrian page: https://www.derbrutkasten.com/a/cointed-krypto-startup-will-sich-mit-ico-120-mio-dollar-holen/
Apparently, the article yesterday said 120M. Probably it wasn’t enough for the ambitious team. Now their aim is 140M$. Still can’t stop shaking my head. I really hope this is not a big mainstream media or newspaper that fell for their lies and fake numbers.

I have also asked some friends in our neighbor country. Obviously, no one from the well-respected ‘Bitcoin Austria’ foundation has ever had any contact with them. They don’t know anything about them.

tl;dr Everything about this company and ICO is fake and the team is incompetent.

[TopHatCyber]

Your site says you do green GPU mining? How? I’m interested

[cointed_official]

Your site says you do green GPU mining? How? I’m interested

Greetings!

Cointed offers its own mining throughout multiple farms in Sweden and Austria.

We are aware, that as the crypto network grows, more sustainable mining soultions need to be found. That is why all of our mining farms use purely renewable energy, through hydro- and windpower.

Our mining business model is pretty unique in the industry. All miners in our farms are owned by the customer, as opposed to cloud mining where you are left empty handed once the contract is finished. You buy the hardware directly from Cointed, we operate it for you for a flat 40% of the miners hashrate, from which ALL expenses are paid - such as electricty, insurance, rent, service, 24/7 real time monitoring, a redunancy system, etc. - and the rest of the hashing power goes directly to you. Apart from the percentage fee, no further expenses will ever need to be taken care of. 60% go directly into you wallet!

At the end of this hosting contract, you can do whatever you please with the hardware. If you prefer we can also ship out the hardware immediately.

We can tell from experience, that in most cases, this fee is much cheaper for our customers than trying to operate their own mining farm - not considering the time and effort required to operate a mining farm.

With the Cointed Token, you can enjoy a wide range of benefits when mining at Cointed. You can use the token to:
1. Lower your fees and receive a bigger percentage of the hashing power
2. Get an up to 15% discount on the mining hardware itself
3. Use the token to license our in-house designed BIOS and operating system for your own miners

At the moment we are sold out for at least the next month. If you want to reserve a spot for the next shipment, simply write us an e-mail .

[cointed_official]

tl;dr Everything about this company and ICO is fake and the team is incompetent.

The amount of unfounded accusations from a "really active person in the crypto landscape" with a brand new bitcointalk account seems peculiar. Throwing around words like "MLM" without further details, and speaking about "friends" you talked with doesn't seem like the best way to present yourself as a reliable source.

Unfortunately, this looks like another attempt to spread FUD and to discredit us from an envious competitor, who is not ready to compete in the open market.

The only business they have is their ATMs.
This is absolutely consistent with my impression that the Cointed member don't have any technical competence themselves.

To call this statement ridiculous would be an understatement:
- Exchange: Our Crypto Exchange Platform is growing at an incredible rate, from 0 at the start of this year to 55,000 visitors each month. New features are being added each month and our customers give us their trust because we were able to design an easy-to-use interface, that even inexperienced users can navigate. In addition, as somone who has actually been active in the crypto scene for years, I know how frustrating the customer support at crypto exchanges can be, often times having to wait weeks before receiving an answer. We process 90% of all tickets within 24-48 hours.
- Mining: We operate mining farms in multiple European countries, which we have already discussed in detail in this thread. We are sure that having 18,000 GPUs with in-house designed BIOS and operating systems constitues as having some sort of "technical competence :-) . https://imgur.com/a/xjiem
- ATMs: "Only" our ATMs would still make us Europe's biggest Crypto ATM operator, with in-house designed brand new ATMs (both software and hardware) ready by Q1 2018: https://imgur.com/a/COt41 . Check coinatmradar.com to take a look at our network.
- PayCo: The payment solution, which can be integrated into cash register systems and online shops, allows merchants to accept all kinds of cryptocurrencies as payment. Ther merchant can decide if he wants to receive the payment in crypto or if he prefers to immeadiately change it into a fiat currency. PayCo is already being successfully tested with a number of selected partners and will be ready for official release in the coming months.

All of this was achieved in a very short timeframe and with absolutely 0 outside funding. In additon, an online shop has already been launched and more products will be added soon.

Alexa Website rating of their website cointed.com:
Global Rank: 124,717 (even now after ICO ads have started)
Rank in Austria: 2,113
Everyone who can interpret this numbers know that their website is pretty much non-existing in the industry and has no relevance. They do not have on app, meaning their numbers in their ICO are 100% fake.

Using Alexa rating to show visitor numbers seems a bit laughable to anyone with even the slightest web experience. For anyone wondering, Alexa tracks users who have the Alexa toolbar installed, registers which sites they visit and then extrapolates those numbers to the entire internet user base... Make of that what you will.

Even so, I invite anyone to actually look at those numbers. Note however that Alexa clearly is not accurate in the slightest.

Rankings in Austria:
2,113 cointed.com 
7,466 bitcoin-austria.at  (whom you cited as a well-respected foundation - and we agree; if we are "non-existing in the industry and have no relevance", then what does this make them?)
10,748 bitcoinbon.at
15,086 coinfinity.co
Our numbers are entirely consistent with other Austrian crypto websites, if not significantly better.

Regarding this, the statement from GB speaks for itself: https://www.generalbytes.com/cointed/

In regards to the situation with GB, we very much would have preferred to handle the seperation with our former partner in private.
The simple thruth is that GB was afraid to lose their best customer and knew that we were able to develope and produce a much better product that would threaten their existence. Note how they are not willing to dispute a single point of the press release regarding this situation, which can be found in the second post of this thread.

Nonetheless I told you I researched a bit after reading the statement of GeneralBytes,

This is where the charade falls apart. You first speak about some hidden MLM structures from some distant past that you claim to know about and then say that you just now started researching the company.

We will leave it to the community to decide how trustworthy those statements are.

[ENS]

even austrian newspaper says its fraud: https://www.derbrutkasten.com/a/cointed-ico-schwere-vorwuerfe-von-ehemaligem-geschaeftspartner/

[cointed_official]

Our official statement regarding the accusations in an austrian newspaper:
https://www.derbrutkasten.com/a/schmutzkuebelkampagne-cointed-wehrt-sich-gegen-vorwuerfe/

[BlueChipper]

Hmm, that's a very interesting discussion here. I talked with the co-founder and initial investor of Crypto Unity OG just a few hours ago. According to the Cointed White Paper, this is their subsidiary that has been involved in mining and software development since 2015.

The facts seem to be that:

• Crypto Unity OG has been founded in spring 2016 (not 2015)
• Crypto Unity OG has been terminated as of end of August 2017, the assets have been taken over by Cointed
• the company never had any in-house capacity or competence for "advanced BIOS" or "operating system" programming
• Cointed GmbH had zero revenue as of end of 2016 as filed with the Austrian Commercial Court
• Aho and Orlov have not been founders of Cointed but founding members of Crypto Unity OG
• Crypto Unity OG's business model was (is) to sell mining equipment to investors

This was what the founding investor and director said. Hence, this guy showed himself pretty surprised to find this statements in the White Paper.

I mean, maybe Cointed is not really a scam or fraud but to go for so much money in an ICO clearly needs more transparency, I guess. We are talking about a real fortune here, right? To set up a Hongkong-based holding company as an Austrian startup just a few weeks before the launch of the ICO isn't something that builds trust. From the discussion in this thread, I'd say that there are simply too many question marks.

[cointed_official]

Hmm, that's a very interesting discussion here. I talked with the co-founder and initial investor of Crypto Unity OG just a few hours ago. According to the Cointed White Paper, this is their subsidiary that has been involved in mining and software development since 2015.

The facts seem to be that:

• Crypto Unity OG has been founded in spring 2016 (not 2015)
• Crypto Unity OG has been terminated as of end of August 2017, the assets have been taken over by Cointed
• the company never had any in-house capacity or competence for "advanced BIOS" or "operating system" programming
• Cointed GmbH had zero revenue as of end of 2016 as filed with the Austrian Commercial Court
• Aho and Orlov have not been founders of Cointed but founding members of Crypto Unity OG
• Crypto Unity OG's business model was (is) to sell mining equipment to investors

This was what the founding investor and director said. Hence, this guy showed himself pretty surprised to find this statements in the White Paper.

I mean, maybe Cointed is not really a scam or fraud but to go for so much money in an ICO clearly needs more transparency, I guess. We are talking about a real fortune here, right? To set up a Hongkong-based holding company as an Austrian startup just a few weeks before the launch of the ICO isn't something that builds trust. From the discussion in this thread, I'd say that there are simply too many question marks.

Hello Werner!


We will be happy to address all concerns you may have, point by point. Feel free to to let us know if anything remains unclear!

1. It's true that the Crypto Unity OG was founded in 2016, as anyone can verify here. We never claimed otherwise in any document. Founding a tech company is not an easy undertaking, especially in an industry as young as crypto mining. Therefore, the development and planning phase was started many months earlier.
2. It seems a bit weird to make up an accusation like that, since it is very easily disproven. Crypto Unity operates a number of mining farms throughout Austria at hydro power stations of various sizes, keeping with our goal to always mine with sustainable energy. Here you can find a picture of an invoice for the rent of one of those farms from just two weeks ago and here is the current excerpt from the Austrian companies' registry (which is publicly accessible to anyone in the world).
3. Well, this is simply false. We have been using our own software since mid 2016!
4. Again, a true point. As the Cointed GmbH was founded at the very end of 2016, as anyone can verify here, there obviously was no revenue for that year.
5. True as well. We fail to see the point you are trying to make though. Mr Aho and Mr Orlov have however been founding member of the Cointed Ltd, which is the company responsible for the Cointed ICO.
6. This point is is also true! We offer a unique business model, where our customers own the hardware they use to mine. They can decide whether they want us to ship it out immediately to them or if they want to sign a hosting contract. In that case the hardware is remains the property of the customer and the Crypto Unity OG simply operates the hardware for a flat percentage fee of the miner's hashing power. From this fee, all expenses are paid - such as electricity, service, 24/7 monitoring, rent, cooling, insurance and so on - the customer NEVER has to pay any additional costs. After the contract is over, the customer is free to decide what to do with his equipment. The goal of our business model is to give back the responsibility to the community, when it comes to the way the blockchain is being controlled - instead of having a handfull of cloud mining companies have all the power.

I think you will have trouble finding a more transparent company! I hope we could help you by answering all your questions and please let us know if any further questions arise.

[Zeroxal]

WARNING! This company has been doing shady business for a long time!
Please respond to the issues below.

1. Fee manipulation:
https://bitcointalk.org/index.php?topic=1351953.msg17429694#msg17429694
Agreement on trade on current market price. Originally tied to the kraken market price + margin. But you decided to create your own "market price" already with margins on it and take another fee.
Proof can be found on archive.org by comparing their market prices with the price on their site. I posted that post a while ago, why did you disappear and create a new account?

2. Lies
You are lying about Wolfgang Thaler being the CEO and one of the co-founders. The real co-founders were: Christopher Rieder and Matthias Rhinow. Mr. Rhinow most probably left the company due to internal problems and Mr Rieder stayed as the CEO. Mr. Thaler came in late 2016 as the CFO. I don't see how Mr. Thaler is getting CEO and Mr Rieder then being the CFO, unless the company (Rieder) wants to have someone else responsible in case the ICO is a scam.
You have been telling lies on and on, now even one of the biggest bitcoin ATM makers generalbytes adresses them: https://www.generalbytes.com/cointed/

3. Facebook fake followers and reviews.
According to my analysis, most or all of your Facebook followers were purchased. Doesn't it seems suspicious that a page that has 20k followers only give about 10-40 likes per post? At one point you also had hundreds of reviews, but somehow you disabled it after I addressed the issue by giving your site a review? As a matter of fact, I still have archived sites before you had hundreds of 5 star reviews and after you disabled reviews after I commented.

Why are you not responding to my previous accusations???
https://bitcointalk.org/index.php?topic=2261138.msg23189622#msg23189622
https://bitcointalk.org/index.php?topic=1351953.msg17429694#msg17429694

4.
Generalbytes losing customers because of you being their competitor? Complete joke. You surely did all the development of ATMS, not one of the first and biggest Bitcoin ATM companies. They all just copied your work and your patent and are stealing buyers from ATMs from you. *sarcastic*
You are dependent on generalbytes from the beginning of introducing ATMs in Austria. They were your major supplier and instead of thanking them you ripped their logos off and promoted it as your own product. Generalbytes never intended to create a product with you. Prove me that I'm wrong by showing up the publicly listed patents on Bitcoin ATMs, I can't seem to find any in the patentdatabase.

To all customers and eventually employees at the company: Be VERY careful with whom you are dealing with. Quit the dealings before you are also being dragged in for fraud!!!

[cointed_official]

1. Fee manipulation:
https://bitcointalk.org/index.php?topic=1351953.msg17429694#msg17429694
Agreement on trade on current market price. Originally tied to the kraken market price + margin. But you decided to create your own "market price" already with margins on it and take another fee.
Proof can be found on archive.org by comparing their market prices with the price on their site. I posted that post a while ago, why did you disappear and create a new account?

2. Lies
You are lying about Wolfgang Thaler being the CEO and one of the co-founders. The real co-founders were: Christopher Rieder and Matthias Rhinow. Mr. Rhinow most probably left the company due to internal problems and Mr Rieder stayed as the CEO. Mr. Thaler came in late 2016 as the CFO. I don't see how Mr. Thaler is getting CEO and Mr Rieder then being the CFO, unless the company (Rieder) wants to have someone else responsible in case the ICO is a scam.
You have been telling lies on and on, now even one of the biggest bitcoin ATM makers generalbytes adresses them: https://www.generalbytes.com/cointed/

3. Facebook fake followers and reviews.
According to my analysis, most or all of your Facebook followers were purchased. Doesn't it seems suspicious that a page that has 20k followers only give about 10-40 likes per post? At one point you also had hundreds of reviews, but somehow you disabled it after I addressed the issue by giving your site a review? As a matter of fact, I still have archived sites before you had hundreds of 5 star reviews and after you disabled reviews after I commented.

Why are you not responding to my previous accusations???
https://bitcointalk.org/index.php?topic=2261138.msg23189622#msg23189622
https://bitcointalk.org/index.php?topic=1351953.msg17429694#msg17429694

4.
Generalbytes losing customers because of you being their competitor? Complete joke. You surely did all the development of ATMS, not one of the first and biggest Bitcoin ATM companies. They all just copied your work and your patent and are stealing buyers from ATMs from you. *sarcastic*
You are dependent on generalbytes from the beginning of introducing ATMs in Austria. They were your major supplier and instead of thanking them you ripped their logos off and promoted it as your own product. Generalbytes never intended to create a product with you. Prove me that I'm wrong by showing up the publicly listed patents on Bitcoin ATMs, I can't seem to find any in the patentdatabase.

To all customers and eventually employees at the company: Be VERY careful with whom you are dealing with. Quit the dealings before you are also being dragged in for fraud!!!

Greetings Zeroxal,

We are happy to answer all your questions in detail.

1. This is quite a confusing point, you might need to elaborate since it doesn't seem clear to us what exactly you are trying to say, especially by us "creating our own market price". The rates of the Cointed Crypto Exchange are decided by supply and demand - the same as any exchange. In some cases this rate will be higher than the market average, in some cases it will be lower. This is just the natural order of all exchanges. No fee is calculated in the rates shown, since the fee depends entirely on the payment method chosen and the trading volume of the customer. If someone feels like he or she can get a better rate elsewhere, they are free to purchase their cryptocurrency whereever they want. This is an open market after all. Feel free to post any prove you think you have.

2. This point is full of speculation that is being presented as fact. If you say something like "probably left due to internal problems" and having nothing to back that claim up, it only serves to put all your opinions in a poor light. Mr Rieder and Mr Rhinow went seperate ways on amicable terms at the end of 2016. At this point, due to the rapid growth of Cointed, the original Cointed OG was closed and the Cointed GmbH was created and Mr Thaler was brought on board, which can easily be verified by this public record. The job titles where switched because the responsibilites within the company switched. If you think a job title has anything to do with who would be liable in case of fraud, then I am afraid that there is a substantial misunderstanding of basic legal and economic principles.

The GeneralBytes situation has already been addressed thoroughly. We invite anyone interested to read our press release regarding this situation on the first page.

3. We again invite you to post prove for those points.
We try our best to address all questions and concerns the community might have. Please understand that in some cases a post or two can slip under our radar.

4. As you surely know, Cointed is one of GB's best customers and currently by far Europe's biggest Crypto ATM provider, as can be verified here. Sadly, it cannot be denied that GB's ATMs have certain problems that we are sure can be fixed. That is why we invited GB to work on improving their product together with us, which they sadly declined. GB had many chances to dispute that fact, which so far they did not do. So what you say is - of course - true, GB never intended to create a new product with us and we never claimed otherwise.

They also never refuted, that they threatened Cointed for months to not even consider producing our own ATMs, even after declining to work together on improving their current product line. So yes, they are clearly afraid to lose their customers due to a new product on the open market, which they are not willing to compete with. As Cointed continues to grow, better hardware and software solutions need to be developed. We are convinced that the crypto community deserves the best products possible. It was clear to us that our goals could not be reached with any ATM currently available on the market.

Cointed is thankful for the long and fruitful relationship we enjoyed with GB, which is why we find the manner in which GB decided to end our relationship so disheartening. However, we don't quite see how being thankful means that you have to stay in the same business relationship for the rest of your days.

If any of those points were not answered to your satisfaction, please let us know.

To anyone else having concerns, questions or other inquiries, we invite you to contact us directly at ico@cointedtoken.com

[DibiaVxosis]

This ICO trying to raised too much money. Beware!