Topic: 🔥🔥[ANN] Cointed ICO | 180 mio$ revenue | 100k GPUs | 100+ Bitcoin ATMs 🔥🔥 - page 19. (Read 12703 times)

You posted:
"- Lies about amount of ATM Locations (at least not willing to provide proof)
Please go to the website https://coinatmradar.com/operators/ where you can find 51 listed already. A look at our facebook page https://www.facebook.com/cointed/ will reveal that we installed !!18 ATMs!! in the last 10 days alone. GB also said themselves in the private email they decided to publish that we bought 73 ATMs from them alone. In addition, 5 BITXATMs, 5 GENESIS ATMs and 15 new Bitcoin ATM „X“ Machines are owned by Cointed, with more models ordered already."

I know one of the owner of BitXatm and he confirmed that BitXatm never sold one single machine to Cointed or the Austrian Market.

I had also no good exprience with Cointed this year in spring.

First they were interested to install a ATM (General Bytes one way) with a contract of 0.5-1% commission. Then I agreed and one week later they asked me if it would be possible for me to buy the ATM.
I was asking then when I am buying the machine for myself what the conditions would be and the answer was "the same".

I got very angry and asked them that we already discussed the conditions and now they want me to pay 4.000 for installing am ATM in my shop.
The aswer was, that they ordered 10 ATMs at General Bytes and this is a liquidity issue for the company.....

My amazement was very big when I read in the news, that this company is performing an ICO with an actual turnover of a couple of million Euros turnover, when some months ago an investment of 40.000 Euro was an issue... very surprising.

First let me say, that it is interesting to say the least, that we are providing answers to all your accusations. You however don‘t find it worthwhile to comment on them. Instead you only bring up new and wrong accusations without providing proof or simply repeat the same accusations again. The reader has to decide for themselves why you behave that way. It is clear that all your posts are not objective but clearly subjective and in a negative, destructive spirit.

Nevertheless, for the sake of transparency, we will continue addressing them:

- Fraudwarning in newspaper
In the article you mention, there is no warning of fraud at all. They only reported the accusations from our former business partner GB and the very comments you posted in this thread. The same newspaper posted an article from our point of view, which can be found here where we explicitly dispute all allegations: https://www.derbrutkasten.com/a/schmutzkuebelkampagne-cointed-wehrt-sich-gegen-vorwuerfe/
In addition, Cointed gave a live video-interview to this newspaper today for the sake of complete clarification, which can be found here: https://www.facebook.com/derBrutkasten/videos/1968866463337243/
So far, GB refused to react to any of our statements.

During this interview, we also invited the same newspaper - https://derbrutkasten.at - to come and visit our mining facilities in Sweden to give the community an unbiased view and to prove that we have nothing to hide. More information will be coming in the next 2 weeks!


- Fraudwarning from experienced Forum Members with Herostatus
We answered all concerns of the mentioned user and are patiently waiting for further comments.
But I am glad you mentioned the issue of warnings from users. We think it is important for the community to know who is actually behind those accounts.
When checking the trustworthiness of the user Zeroxal, one can find a review that leads to this interesting statement of the user himself  where he admits to tax fraud: https://archive.fo/Q916h
 

- 100% Fake followers on Facebook
Every company, has to deal with this problem. It is true that we advertised our facebook page in those countries, which is completely legitimate way to reach potential customers. A look at our whitepaper will reveal, that expanding to Africa is one of our core goals, since cryptocurrencies are ideal for markets where financial infrastructure is still underdeveloped.
The statement that 100% of our followers are fake is an exaggeration of incredible dimension.


- Censorship of Reviews
Already addressed, you refused to provide prove.


- Huge Fight with the only confirmed partner GB (witch is a credible palyer in the crtypto community with a very good reputation)
A statement regarding the GB situation can be found on the first page of this thread and in the article and video posted above. We will also invite GB to a roundtable discussion. The fight was never intended by us and we didn’t start it as mentioned time and time again already in this thread. Cointed is very disappointed in GB for taking these steps. This point has been addressed multiple times.


- No proof for any up and running mining farms (exept some pictures of rigs standing around in a warehouse)
As mentioned before, a camera team from https://derbrutkasten.at has been invited to visit our mining farm in Sweden. At this mining farm alone, Coitned operates 16,000 GPUs, which are up and running at this point. Stay tuned for the video! (and thank you for providing the publicity!)


- Fee Manipulation
Already addressed, you refused to provide prove.


- Lies about claiming the BT ATMs are Cointed ATMs
Which lies? We bought the ATMs and always paid our bills on time, even stated by GB in the private letter they decided to post on their site. They belong to us. We have already provided proof of our own new ATM prototypes which are not only owned, but also produced by us: https://imgur.com/a/COt41


- Lies about Revenue/Turnover
Again no lies. The 180$mio dollars are a low estimate for the end of this fiscal year.
We are willing to admit that these numbers were communicated poorly. We will be able to prove this with our balance sheet at the end of the year. Sceptical investors are invited to revisit this ICO at the beginning of the next year when this information will become publicly available.


- Lies about amount of ATM Locations (at least not willing to provide proof)
Please go to the website https://coinatmradar.com/operators/ where you can find 51 listed already. A look at our facebook page https://www.facebook.com/cointed/ will reveal that we installed !!18 ATMs!! in the last 10 days alone. GB also said themselves in the private email they decided to publish that we bought 73 ATMs from them alone. In addition, 5 BITXATMs, 5 GENESIS ATMs and 15 new Bitcoin ATM „X“ Machines are owned by Cointed, with more models ordered already.

Regarding the ATMs that have not been listed publicly they:
1. Are at private clubs, which can only be accessed by members of the club
2. Still need to be shipped out (I just received word that a new ATM has arrived in Mallorca/Spain!)
3. Are prototypes which have been developed and produced by Cointed and are now being tested


- Lies about having a developed Mining Hardware together with Nvidia. (And pretending to have a non disclouser Agreement after anouncing it themselves)
Already answered, you are repeating yourself to inflate the list of unbased accusations


- Lies about Online Traffic on theire site.
Already addressed, refused to provide prove.


- Lies about developing theire own software.
Already addressed, refused to provide prove.


- Lies about developing theire own ATMs.
Already addressed, pictures of our prototypes have been posted multiple times: https://imgur.com/a/COt41
The GeneralBytes drama you keep citing is entirely because we are producing our own ATMs, as GB says themselves in the private email they decided to pusblish. This makes your point not make a lot of sense I am afraid. It seems like you are running out of accusations you are able to make up.


- Censoring all channels, deleting old profiles and creating new ones
That is a new one which again, you refuse to provide any proof for.
If you mean the Cointed OG account, a short Google check will reveal that the Cointed OG has been closed over a year ago. I don't think that you mean this account though because it would not make sense to talk about the account of a company that no longer exists.


It is obvious that you are just flinging dirt and hope that something sticks. You don’t care that all these points have been thoroughly discussed and just keep repeating them without addressing our answers in any way, shape or form.

We are happy to engage in a healthy discussion. However, so far it seems like the only thing you are interested in is to inflict the biggest economical damage. I am sure it makes the community wonder what your motivation actually is...

Update on Cointed's corporate structure that is not in line with the White Paper. Hence, the White Paper is simply wrong public information. As of today the Commercial Register

• doesn't show a Hongkong-based company as a shareholder. Hence, legal-wise the Austrian Cointed GmbH belongs to the shareholders Christoph Rieder with 90% and Wolfgang Thaler with 10% and not to Cointed Ltd
• doesn't show that the Austrian Cointed GmbH or the Hongkong Cointed Ltd is a shareholder in the Crypto Unity OG, hence it doesn't own the mining business.

Based on the information provided by the Austrian Commercial Court the Hongkong Cointed Ltd is neither shareholder of the Austrian Cointed GmbH nor of the Crypto Unity OG and hence Cointed Ltd doesn't own the business or the shares of any of the companies. This is in strict contradiction to the White Paper and leaves the token holders without assets.

Furthermore, the Crypto Unity OG shareholder and director we spoke with has confirmed to us (and will do this before any court) that he agreed with the other shareholder Charli AHO to dissolve the company and that AHO and his tax adviser have been instructed and agreed to do so. Obviously, this hasn't happened and thus he will take the necessary legal actions on Monday.

But maybe it's all just another misunderstanding and the guys just forgot to update the Commercial Court in time. In any way it's definitely not transparency, I guess.

See the screenshots below were delivered to us by an authorized person today:

The list of accusations against Cointed seems actually to be a very long one from many different sides and points of view.

I just would like to point out that I have not made any accusations but only stated what the initial investor, co-founder of Crypto Unity OG and director stated to me. I am pretty sure that he knows what he is talking about as he paid for the first servers and allowed to set up Crypto Unity OG and is an experienced investor as well as an honest guy.

I can see absolutely no transparency at all and most of the recent ICOs have been provided way more information, especially when going for so much money. To be transparent it definitely needs more information:

• no detailed information is given on the past corporate transactions and the corporate structure and which entity owns what exactly. The former Crypto Unity OG shareholder has been bought out after a few issues and insists that he agreed with you to dissolve the company. That's his view but maybe he has the same misunderstanding with you like some other guys?
• obviously Crypto Unity OG still exists with new shareholders, it isn't shown yet in the Commercial Register, right? Furthermore, it isn't shown that Cointed GmbH is owned by Cointed Ltd in Hongkong, right? You shouldn't call this transparent, I guess.
• no proof is given on the revenue numbers  of the past years that make the "key difference* to other ICOs. This should clearly be the case if you guys go for so much funds. The number we know is ZERO hence you have to provide the proof for your *key differentiator" to be transparent.
• Being an Austrian company with operations in Austria and Sweden and setting up a Hongkong Shell company as holding is not transparency at all, it's hiding or tax avoiding or regulation issues of whatever. With EUR 100M revenue in the past you must be a huge tax payer
• you are not delivering details on the investors in the mining business and details to the investment concept. According to the former director, there are some tax/legal/regulatory risks associated with it. This should be transparently explained I guess.

We are working on an analyzing blog post on the Cointed ICO and its background on Medium and LinkedIn and this forum really provided a lot of input. Thx for that.

Let me sum things up:

- Fraudwarning in newspaper
- Fraudwarning from experienced Forum Members with Herostatus
- 100% Fake followers on Facebook
- Censorship of Reviews
- Huge Fight with the only confirmed partner GB (witch is a credible palyer in the crtypto community with a very good reputation)
- No proof for any up and running mining farms (exept some pictures of rigs standing around in a warehouse)
- Fee Manipulation
- Lies about claiming the BT ATMs are Cointed ATMs
- Lies about Revenue/Turnover
- Lies about amount of ATM Locations (at least not willing to provide proof)
- Lies about having a developed Mining Hardware together with Nvidia. (And pretending to have a non disclouser Agreement after anouncing it themselves)
- Lies about Online Traffic on theire site.
- Lies about developing theire own software.
- Lies about developing theire own ATMs.
- Censoring all channels, deleting old profiles and creating new ones
..... that list could go on forever....

This ICO trying to raised too much money. Beware!

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 [email protected]

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

1. Fee manipulation:
https://bitcointalksearch.org/topic/m.17429694
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://bitcointalksearch.org/topic/m.23189622
https://bitcointalksearch.org/topic/m.17429694

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!!!

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.

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.

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

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

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.


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.


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.



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.


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.

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 .

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

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://bitcointalksearch.org/topic/delete-1351953
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.

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!

Greetings

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