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.