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Re: 🔥🔥[ANN] Cointed ICO | 180 mio$ revenue | 100k GPUs | 100+ Bitcoin ATMs 🔥🔥
Charli Aho and Illya Frolov were talking about all the heat the GPUs generated and how to deal with it.
It was then when a genius idea struck Illya. Why not use the heat generated from our mining facility to warm people's homes?
Well, that's funny. What a great idea was born on that day with Charli AHO. Unfortunately, it's (again) a false claim. Actually, Illya has invented the home heating project already in 2017 without Charli AHO. Read this article and watch the video published in November 2017 already. Those Cointed claims are simply incredible stupid.It was then when a genius idea struck Illya. Why not use the heat generated from our mining facility to warm people's homes?
Re: 🔥🔥[ANN] Cointed ICO | 180 mio$ revenue | 100k GPUs | 100+ Bitcoin ATMs 🔥🔥
Just in case some people still think that Cointed Ltd has provided correct information about their assets and its business.
On November 10, 2017, Cointed GmbH founder Christopher Rieder confirmed via Email that not the Hongkong-based Coined Ltd holds the shares of Cointed GmbH but he himself.
In this Emails Rieder claims that he has nothing to do with the other people in Crypto Unity OG (Charli AHO, Daniil ORLOV) even though they claimed that this is a Cointed Ltd subsidiary. Even though Rieder holds himself out as CEO of Cointed Ltd on the ICO website (www.cointedtoken.com) he claims that he is not responsible for the ICO. Strange, isn't it?
Meanwhile, Cointed Ltd had to admit that Crypto Unity OG is not a Cointed subsidiary. In the White Paper, they simply replaced "Crypto Unity OG" now with "Swiss Crypto Group", another company nobody has heard and was set up just recently.
I really wonder how Deloitte has testified that? We already reached out to them and will report back on the results.
On November 10, 2017, Cointed GmbH founder Christopher Rieder confirmed via Email that not the Hongkong-based Coined Ltd holds the shares of Cointed GmbH but he himself.
Quote
Sie müssten sich bitte in der Gemeinsamen Firma COINTED LTD. Melden die auch den ICO macht 😊. Derzeit ist die Cointed GMBH in MEINEM alleinigen 90% igen Besitzt mit Herrn Thaler.
Wir hatten mit Ihnen oder den anderen Herren hier in dieser Firma nie was mit zu tun (Christopher RIEDER, Cointed CEO).
Wir hatten mit Ihnen oder den anderen Herren hier in dieser Firma nie was mit zu tun (Christopher RIEDER, Cointed CEO).
In this Emails Rieder claims that he has nothing to do with the other people in Crypto Unity OG (Charli AHO, Daniil ORLOV) even though they claimed that this is a Cointed Ltd subsidiary. Even though Rieder holds himself out as CEO of Cointed Ltd on the ICO website (www.cointedtoken.com) he claims that he is not responsible for the ICO. Strange, isn't it?
Meanwhile, Cointed Ltd had to admit that Crypto Unity OG is not a Cointed subsidiary. In the White Paper, they simply replaced "Crypto Unity OG" now with "Swiss Crypto Group", another company nobody has heard and was set up just recently.
I really wonder how Deloitte has testified that? We already reached out to them and will report back on the results.
Re: 🔥🔥[ANN] Cointed ICO | 180 mio$ revenue | 100k GPUs | 100+ Bitcoin ATMs 🔥🔥
Maybe some guys will be asking us (again) to take a walk into the woods and to speak with the trees but to all other interested investors that would like to avoid an ICO scam we would like to provide some more audited and checked details that came up in our still ongoing research:
Again, these are documented facts and no allegations. Maybe Cointed is a legitimate business but it doesn't look like that. We have all documents filed with our lawyer in order to be able to provide proof if necessary. And, yes, of course, we can talk with the trees about those fake info and inhale some fresh air to get rid of such a scam spirit.
And yes, of course, we are able and willing to discuss this matters with Cointed here within the forum or on LinkedIn, Twitter or Medium.
- Cointed Ltd doesn't own Crypto Unity OG as a subsidiary, thus they have no mining business (we have the official confirmation of one shareholder and director and the Austrian commercial register). That's a false statement without any possible excuse.
- the Austrian authorities will look into these false public statements we have been informed
- Cointed GmbH has not recorded any revenue in its balance sheet 2016 and has not provided any audited or CPA-confirmed numbers for 2017 hence it has not shown any established business. Maybe the people behind Cointed have made some great business but it's not shown on balance sheet or tax records.
- Crypto Unity OG has not made or provided the balance sheet as of Dec 31, 2016 (!) as confirmed by their accounting firm
- Crypto Unity OG has not yet delivered a single record of business for 2017 to their mandated accounting firm (we have the official confirmation of the accounting firm)
- many of their investors are waiting for their mining servers, some of them already since April 2017 as confirmed by one director
- Crypto Unity OG and Cointed obviously sell mining equipment off-balance sheet against cash and thus may run into investigations of the financial authorities in the very near future as confirmed by one of its directors. The point is that this may be money laundering.
Again, these are documented facts and no allegations. Maybe Cointed is a legitimate business but it doesn't look like that. We have all documents filed with our lawyer in order to be able to provide proof if necessary. And, yes, of course, we can talk with the trees about those fake info and inhale some fresh air to get rid of such a scam spirit.
And yes, of course, we are able and willing to discuss this matters with Cointed here within the forum or on LinkedIn, Twitter or Medium.
Re: 🔥🔥[ANN] Cointed ICO | 180 mio$ revenue | 100k GPUs | 100+ Bitcoin ATMs 🔥🔥
I for sure are watching this ICO, As ElioVP I am not a believer of ICOs which only exist on papers, but this one has as least a feasible concept and assets.
Cheers!
I fully agree with you. Most ICOs don't have any assets and are more or less scams. Unfortunately, Cointed Ltd obviously also owns nothing. It seems that they neither have mining servers nor shares nor all IP rights necessary to run the business as communicated. Cointed Ltd obviously neither owns Cointed GmbH nor the mining company Crypto Unity OG. Hence, Cointed Ltd as the token issuer and ICO promoter seems to be another ICO with no assets. Cheers!
Re: 🔥🔥[ANN] Cointed ICO | 180 mio$ revenue | 100k GPUs | 100+ Bitcoin ATMs 🔥🔥
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BlueChipper
this is the so called Eröffnungsbilanz which of course can not show much as the Biz just started. I'm sure you know this . My impression is that your motivation behind your postings is not business related but more to harm the people behind Cointed.
Correct me if I'm wrong .
Unfortunately, you are wrong. I am not the CPA (but we have mandated one to take a look into the matter to help our client in this case) but its my understanding that if Cointed OG would have been the predecessor company (the established business that Cointed claims to run since 2014) and would have been merged into Cointed GmbH (which is the way it works usually) this would be shown in the books, even in an "Eröffnungsbilanz" but the filed balance sheet isn't an "Eröffnungsbilanz" anyway.this is the so called Eröffnungsbilanz which of course can not show much as the Biz just started. I'm sure you know this . My impression is that your motivation behind your postings is not business related but more to harm the people behind Cointed.
Correct me if I'm wrong .
Please read the post by @taxi. Seems strange that Cointed OG has been deleted and hence the business ceased officially. Where have all the customers, revenues, assets gone then? Why aren't they shown in the balance sheets? If they have gone elsewhere then Cointed has no right to claim to have an *established" business.
And still, the big question on the Crypto Unity OG remains open yet. Where are all the assets and the business that's claimed to be in Cointed Ltd? Off-Balance, Off-Shore? The public information provided by Cointed Ltd (?) claims to have all assets though!
As I said, we will post a detailed analysis on Cointed ICO n LinkedIn soon to have an open, fair and professional discussion. Please join us then.
Re: 🔥🔥[ANN] Cointed ICO | 180 mio$ revenue | 100k GPUs | 100+ Bitcoin ATMs 🔥🔥
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@BlueChipper Why are you trying to come up with reasons so hard that this ICO is a scam? If you were objective, then you would at least mention that the said GmbH was only founded on 24.11.2016 according to https://www.firmenabc.at/cointed-gmbh_Nqyy#crefo this source. I guess this means the company was active for only one month by the time they had to do their balance.
I am a member of some blockchains groups that deal with "ICO Ethics" and "ICO Regulation" and we work hard to make our industry clean. For a simple reason - we want it work and we want the state and the regulators to stay out. But if scams and frauds are happening regulators and prosecutors have a very good reason to step in, don't they? Let's keep our environment clean and honest please and show no mercy with scammers and fraudsters.I have not made any accusation myself. Many others have done that in inside and outside this forum. I tried to summarize, structure and present and I focused on facts - no rumours or emotions. From the insider information, I have got from people around Cointed, I have to doubt that they are a legitimate project or even an attractive one. From what I learned from my informants/clients you may expect some litigations around Cointed and maybe even criminal charges because of their false public information. Doesn't sound very attractive to me.
Re: 🔥🔥[ANN] Cointed ICO | 180 mio$ revenue | 100k GPUs | 100+ Bitcoin ATMs 🔥🔥
So what ?
They can be directors and shareholders in companies all over the world
Sorry this is not relevant
They can be directors and shareholders in companies all over the world
Sorry this is not relevant
Very well, fine for me. Seems you are kind of enthusiastic investor. What we learned in this forums so far
- a key partner is blaming Cointed for serious IP infringements which endangers PayCo and the ATM products
- the director and investor, as well as the commercial register, claim that Crypto Unity OG and the "green mining" business doesn't belong to Cointed today which would endanger the second business segment, i.e. there is obviously no mining business in Cointed currently
- the latest commercial register shows that Cointed GmbH is not owned by Cointed Ltd hence ATM & Exchange businesses seems not to be in Cointed Ltd
- some people doubt the numbers of installed ATMs and who owns them
- the revenue numbers and financials have been doubted. Despite the company's public statements about an *established* business revenues were ZERO last year and no assets were shown in the balance sheet as of end of Des 2016 (see below), hence no *established* business
- all Cointed people are sort of Hongkong refugees and no social media contacts of the people involved are provided at all
- given all the findings it seems that a newly set up Hongkong shell company without assets is the token issuer and the white paper is false.
These are not my accusation but just a wrap-up. Well, to me it seems at least worthwhile to give it a second thought. Would you really give those people USD 120M to do exactly expand what? And the responsible people move to Hongkong!
As I said, very well. No risk, no fun, right?
Re: 🔥🔥[ANN] Cointed ICO | 180 mio$ revenue | 100k GPUs | 100+ Bitcoin ATMs 🔥🔥
why should they be in HK ?
do you think the directors of Cayman /Singapore ICO companies are really living there ?
If you read the press about Tezos you will see that they are not all living in Switzerland
Let's be specific here as this may be relevant legal-wise. The point is that the Cointed people claim that they are in Hongkong being all kind of "Assistant Manager" whilst they actually live and work in Austria and have management positions in Austria. In Tezos' case it was clear that the operating "for-profit" company (and their management) is the US and the fund-raising unit (and its management) is in Switzerland. That's what is said in their white paper. do you think the directors of Cayman /Singapore ICO companies are really living there ?
If you read the press about Tezos you will see that they are not all living in Switzerland
I mean, what does it tell us if people claim to have other jobs in other countries while they don't? In a public communication to potential investors? Who are the directors then of Cointed GmbH in Austria?
Re: 🔥🔥[ANN] Cointed ICO | 180 mio$ revenue | 100k GPUs | 100+ Bitcoin ATMs 🔥🔥
Ico investors are protected by law ? please explain this in more detail
In most jurisdictions, the law demands that a company and its representatives must not issue false information about their assets, revenues, financial situation etc. If they do so they will be held liable by the law/prosecutors. It doesn't matter if they issue securities or tokens (that may be securities). That's just one example how the law protects investors. Currently, there is an intense discussion in most jurisdictions about the law and regulation around ICOs to protect investors and punish scams and frauds.Re: 🔥🔥[ANN] Cointed ICO | 180 mio$ revenue | 100k GPUs | 100+ Bitcoin ATMs 🔥🔥
You are not getting shares but you have to rely on the token issuer in an ICO that he actually has the assets he claims to have otherwise its a fraud
So if get this right: Every ICO without any assets -as they have just a good idea/knowledge , are fraudsters ? How can you prove that for example TenX will invest all the funds as explained ?
Ico investors are protected by law ? please explain this in more detail
No, that's not what I am saying. If you claim to have assets like shares or IPs and you don't have them that's a fraud. If you have nothing but a great idea and make an ICO with this great idea then this is fine, absolutely. This is honest. So if get this right: Every ICO without any assets -as they have just a good idea/knowledge , are fraudsters ? How can you prove that for example TenX will invest all the funds as explained ?
Ico investors are protected by law ? please explain this in more detail
Re: 🔥🔥[ANN] Cointed ICO | 180 mio$ revenue | 100k GPUs | 100+ Bitcoin ATMs 🔥🔥
After checking a lot of ICO Whitepapers and Business structures I came to the conclusion that this is completly irrerelevant as you do not get a share/dividend/voting right or whatsoever !
So I don't understand the useless discussion about Hong Kong , Austria etc. It is for my understanding just the place where Ico's are not regulated.(Singapore,Cayman's, HK )
Well, you are right. You are not getting shares but you have to rely on the token issuer in an ICO that he actually has the assets he claims to have otherwise its a fraud. You are an investor and you need to trust the information provided. Even ICO investors are protected by law and ICO teams are held responsible by law. Nothing changed in this respect.So I don't understand the useless discussion about Hong Kong , Austria etc. It is for my understanding just the place where Ico's are not regulated.(Singapore,Cayman's, HK )
If a third party claims that an ICO team infringes its Intellectual Property as General Bytes does in this case, I think it's more than fair to discuss this at length?
Re: 🔥🔥[ANN] Cointed ICO | 180 mio$ revenue | 100k GPUs | 100+ Bitcoin ATMs 🔥🔥
The whole issue around Cointed is getting more and more obscure. The simple truth is that the company and token issuer Cointed Ltd is not what it claims to be and doesn't own what it claims to own. Moreover, at least one company - General Bytes - officially claims IP infringements, right?
Cointed said in their White Paper and in several other public communications that they own Crypto Unity OG (mining business) and die Austrian Cointed GmbH and all other assets and that everything is already recorded accordingly. Last time they did so in their "Brutkasten Interview" yesterday or in their official answer to the General Bytes Open Letter:
Fact is that the Crypto Unity OG still is owned by Charli AHO and the initial investor and hence they definitely do have this mining business in Cointed Ltd as purported in their White Paper:
Cointed's public statements are simply false in the sense of § 163a StgB and a criminal offense. False public statements are punished with up to 3 years jail especially if you provide those false statements to raise funds. They claim that the token issuer Cointed Ltd has assets it hasn't and hence they provide a false statement of assets to potential investors.
It's sad to see how ICOs are done and how careless teams are asking investors for up to USD 120.000.000. I mean, that's really big money. Look what's just happening to TEZOS with the upcoming legal procedures and litigations. There will be a lot of litigations around other ICOs too. So be careful with your investments especially when there is so much uncertainty.
Stay tuned, we will finish a comprehensive blog post ON Cointed and the team on Medium and LinkedIn tomorrow with all legal data and pieces of evidence.
Cointed said in their White Paper and in several other public communications that they own Crypto Unity OG (mining business) and die Austrian Cointed GmbH and all other assets and that everything is already recorded accordingly. Last time they did so in their "Brutkasten Interview" yesterday or in their official answer to the General Bytes Open Letter:
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Cointed Ltd. Is the official Mother Company of Cointed GmbH, and it is already entere das Shareholder.
Deloitte and KPMG are doing the Legal Staff in all Countries right now, and with Date 20.10 Cointed Ltd is MOTHER of all Companies we have WORLD WIDE and we have much ... All Shares and Companies belong to: Cointed Ltd.
Deloitte and KPMG are doing the Legal Staff in all Countries right now, and with Date 20.10 Cointed Ltd is MOTHER of all Companies we have WORLD WIDE and we have much ... All Shares and Companies belong to: Cointed Ltd.
Fact is that the Crypto Unity OG still is owned by Charli AHO and the initial investor and hence they definitely do have this mining business in Cointed Ltd as purported in their White Paper:
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Our subsidiary, the Vienna-based Crypto Unity OG, has been at the forefront of crypto mining developments since 2015, distributing custom-designed mining hardware for decentralised cryptographic networks - such as BTC, ETH, ETC, XMR and ZEC - as well as developing advanced BIOS and operating systems in-house.
This has been confirmed by AHO to the investor yesterday in a phone call. And the same is true for Cointed GmbH that is not owned by Cointed Ltd. See the official record of the Austrian Commercial Register above. The investor of Crypto Unity OG will take the necessary steps on Monday to reserve his rights and keep damage from him.Cointed's public statements are simply false in the sense of § 163a StgB and a criminal offense. False public statements are punished with up to 3 years jail especially if you provide those false statements to raise funds. They claim that the token issuer Cointed Ltd has assets it hasn't and hence they provide a false statement of assets to potential investors.
It's sad to see how ICOs are done and how careless teams are asking investors for up to USD 120.000.000. I mean, that's really big money. Look what's just happening to TEZOS with the upcoming legal procedures and litigations. There will be a lot of litigations around other ICOs too. So be careful with your investments especially when there is so much uncertainty.
Stay tuned, we will finish a comprehensive blog post ON Cointed and the team on Medium and LinkedIn tomorrow with all legal data and pieces of evidence.
Re: 🔥🔥[ANN] Cointed ICO | 180 mio$ revenue | 100k GPUs | 100+ Bitcoin ATMs 🔥🔥
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
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:
- 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.
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:
Re: 🔥🔥[ANN] Cointed ICO | 180 mio$ revenue | 100k GPUs | 100+ Bitcoin ATMs 🔥🔥
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:
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.
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.
Re: 🔥🔥[ANN] Cointed ICO | 180 mio$ revenue | 100k GPUs | 100+ Bitcoin ATMs 🔥🔥
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:
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.
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.
Re: 🚀[BOUNTY] Cointed ICO | 180 mio$ revenue | 100k GPU mining| 1.2 mio$ bounty !!!
Hi there Cointed. I read through your white paper and did some research. You are an Austrian company and the last balance sheet you filed with the Commercial Register showed ZERO revenue. As this revenue and the established business seems to be your main argument and key differentiator could you please explain this? Where does this revenue explosion come from? Could you please come up with the balance sheet of your established business?
Re: [BUG BOUNTY][ICO] Cointed Token Audit (100k € reward!)
I saw that you are offering ATM services for BTC. Do you know that this needs a license in Germany and other countries for example? Hence, the German Financial Market Authority (BaFin) will not let you raise funds from German investors. The same is true for some other EEA countries and U.S.
How do you plan to offer your coins/tokens in these countries? Are you doing a White Listing for countries?
How do you plan to offer your coins/tokens in these countries? Are you doing a White Listing for countries?
I might be interested though. You will have to clarify exactly how much money from the ICO will be used to fund your litigation, and how providing you with those funds will benefit us. Also what level of protection (if any) is provided for us as investors, owing to the fact that BitRush shareholders and legal professionals are to receive a 50% discount for this ICO. If you can do that, I'll stop using the bad words. I might also throw some money at this, and I may even help you.
Hi @NewWorldCoiner. I fully agree with your that it needs more details before we start the token sale. We'll come up with more details over the next couple of days. In order to provide as much transparency as possible, we will open a forum on our site where all the details can be discussed.
We, the founders of BitRush have agreed with Litigation Coin Ltd (the legal entity that runs the project) that we share the proceeds with 50% in case we win, i.e. 50% of the damage payments will go to the to the LitigationToken project. Currently, we are working on a Swiss foundation that will finally govern the LitigationToken ecosystem with trustees like lawyers and auditors. To give you a better feeling: together with other shareholders (please read "BitRush Case Facts) we seek a USD 30M damage payment for all participating shareholders. We think that it needs some USD 500k to USD 750k to file the respective claims. We have already filed one claim which is already registered and dealt with a court and we did some other legal actions, i.e. we are not starting from scratch.
Additionally, we the founders have agreed to give away 50% of our shares in BitRush Corp to Litigation Coin Ltd. So, even in the case that we do not win, token holders and the LitigationToken ecosystem have the shares that could be worth something in the future once the legal battle is settled.
We thought that it may be a good idea to offer legal professionals and BitRush shareholders the possibility to join with a discount if they agree to deliver either service (i.e. make the ecosystem strong) or participate in the Class Action. This will benefit all token holders we guess as we hope that with excellent legal professionals more startups and founders will turn to LitigationToken with their legal issues.
I appreciate very much that you are such a critical person. That's exactly why we decided to go into Bitcointalk forum to receive the first feedback and have the first discussion.
As I wrote above, we'll come out with the detailed numbers over the next couple of days. All court & litigation documents will be published on our site, can be downloaded and discussed in our LitigationToken forum i.e. full .
Let me know if you have any further questions. I'll continue to update our progress anyway. Thx and cheers.