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Cointed

This is open letter to Cointed:

 
From today we will not accept any new order for our products (ATMs, POSes, etc) from your company or any other of your sister/mother companies.
 
Our company intends to meet high moral standards and maintain its core values as Truth, Privacy and Freedom.
Further cooperation with your company would go directly against these principles.
 
You were a good customer. Paying in time(mostly ahead of time), taking good care of your ATMs but recent developments forces us to end our cooperation.
 
1) Pretending that our products are your products. 
For long time we tolerated you changing any traces of our company on your machines. Especially changing GB logo that covers wifi antenna seemed to us as replacing BMW logos on cars that you buy from us. But we understood it that you want to build your brand and we ignored that. But more and more often we see you pretending that our products are manufactured by you. Not only to your customers but now also to investors, ICO token holders, media, exhibition participants). This is unfair behavior and can be classified as lie.
 
2) ICO scam
We preceive your ICO as scam activity. You decided to start your own ICO which is very legit thing nowadays. But instead of doing it in transparent and truthful way you designed and executed ICO in truth stretching ways.
 
1) Empty shell. Cointed token holders will own tokens from empty company. Cointed Ltd. Company based in Hongkong that doesn't own anything. None of our machines. Not even the license from us to operate them. Cointed Ltd is registered in China but you state on webpage that chinese and usa citizens are not allowed to participate in token sale which is strange.
 
2) White paper lists past achievements of Cointed OG and Cointed GmbH and makes an impression that token holder is purchasing tokens from them but he is buying tokens from Cointed Ltd.
 
3) Whitepaper document is claiming that you have 100+ ATM machines which is not true. Coinatmradar.com displays 51 locations. Our records show 73 sold and delivered machines.
 
4) Whitepaper contains pictures of our products without any written consent to use them for any of your marketing activity. Images are modified to contain your logo instead of our. 
 
5) Promising impossible. ICO whitepaper contains our product image CortexPay (You renamed it to PayCO - half of our product name and half of cointed name) along with promise that it already has features that our product doesn't. We have experience with developing, manufacturing and deploying products that you offer in your ICO. We are aware of how long it takes from paper to deployed product working in field. Your ICO will end with unfulfilled goals and we cannot imagine being part of it. 
 
6) Becoming our competitor or liar. You have been ensuring us multiple times that you are not violating our license agreement by manufacturing competitive ATMs. Because we don't want our customers to copy our product which we sell to them. You assured us after you bought one of the unsuccessful bitcoin ATM company in Austria. You assured us again when you were considering to start manufacturing ATMs with gambling company (EDP).  You assured us again when some of our potential customers told us that you showed them in your Wien office ATM that you claimed that is manufactured by you. In your ICO roadmap you claim that you will "Produce new generation of ATMs" and "ATMs will be available as white-label products". So either you lie to us or you lie to potential token holders.
 
I'm sad to state that all previously mentioned contributed to the fact that we no longer have a trust in you, your company and its good intentions. We will of course continue to provide you with the support for products that you bought from us in past, but we will no longer sell you or any of your sister/mother companies our current or future products.
 
Time to time GB's core principles close doors for GB to certain areas. Such as selling ATMs to gambling arcades, unstable regimes/countries, multilevel marketing schemes, scam coin projects. But we believe that our core values are more important than possible financial gains.
 

--

Karel Kyovsky
Owner of GENERAL BYTES s.r.o.
 

Whitepaper changes that conted did after receiving our letter:

 

Before and After

 

Text response from Cointed:

 

Dear Christopher and rest of Cointed team.

As I already announced yesterday here is our official statement.

Dear Karel and the General Bytes Team,

 

From today we will not accept any new order for our products (ATMs, POSes, etc) from your company or any other of your sister/mother companies.

We have to accept this, thank you for your honesty.

 

Our company intends to meet high moral standards and maintain its core values as Truth, Privacy and Freedom.

Further cooperation with your company would go directly against these principles.

Ok

 

You were a good customer. Paying in time(mostly ahead of time), taking good care of your ATMs but recent developments forces us to end our cooperation.

Thank you for that too, you were a good Cooperation Partner and we can not say Anthing bad about you.

 

1) Pretending that our products are your products. 

For long time we tolerated you changing any traces of our company on your machines. Especially changing GB logo that covers wifi antenna seemed to us as replacing BMW logos on cars that you buy from us. But we understood it that you want to build your brand and we ignored that. But more and more often we see you pretending that our products are manufactured by you. Not only to your customers but now also to investors, ICO token holders, media, exhibition participants). This is unfair behavior and can be classified as lie.

It is not an Lie or anything, we do not had any Agreements that we are not allowed to do this, i still have Text Messages were you say „I dont understand, but it is ok“ from before 3 Months.

 

2) ICO scam

We preceive your ICO as scam activity. You decided to start your own ICO which is very legit thing nowadays. But instead of doing it in transparent and truthful way you designed and executed ICO in truth stretching ways.

On our Side we do everything very Clearly and not Hiding anything.

 

1) Empty shell. Cointed token holders will own tokens from empty company. Cointed Ltd. Company based in Hongkong that doesn't own anything. None of our machines. Not even the license from us to operate them. Cointed Ltd is registered in China but you state on webpage that chinese and usa citizens are not allowed to participate in token sale which is strange.

Our Company is Registered in HONGKONG – and ICOs are forbidden in USA and China thats the Reason why we dont do it.
China IS NOT Hongkong LAW ist Different and Possible.

Cointed Ltd. Is the License Holder for any LOGO / Name / Domains / Servers and everything we operate in Global over all.
Cointed GmbH have the License with you correctly, and no Cointed Ltd. Will operate them.

But ALL is owned by Cointed GmbH -> Is in real owned by Cointed Ltd. In Reason oft he License Agreement and Shares between those 2 Companys.

 

2) White paper lists past achievements of Cointed OG and Cointed GmbH and makes an impression that token holder is purchasing tokens from them but he is buying tokens from Cointed Ltd.

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:

Cointed Spain
Cointed Italy
Cointed French
Cointed Austria
Cointed Sweden
Cointed Dubai
Cointed Singapore

All Shares and Companies belong to: Cointed Ltd.

 

3) Whitepaper document is claiming that you have 100+ ATM machines which is not true. Coinatmradar.com displays 51 locations. Our records show 73 sold and delivered machines.

We have over 100 ATMs, we dont have to PUBLISH all oft hem i think but as you wrote we have 73 GB ATMs, we have around 5 BITXATMs, we have 5 GENESIS ATMs, and we have also 15 New Bitcoin ATM „X“ Machines in Asia.
We all are operating them. So ist not a Lie it ist he Truth and we can show it to EVERYONE in the World

 

4) Whitepaper contains pictures of our products without any written consent to use them for any of your marketing activity. Images are modified to contain your logo instead of our. 

We are sorry fort hat, and all Pictures are already deleted.
Instead of your ATM we put now the Brand New – BITCOIN ATM „X“ from Asia there.

 

5) Promising impossible. ICO whitepaper contains our product image CortexPay (You renamed it to PayCO - half of our product name and half of cointed name) along with promise that it already has features that our product doesn't. We have experience with developing, manufacturing and deploying products that you offer in your ICO. We are aware of how long it takes from paper to deployed product working in field. Your ICO will end with unfulfilled goasl and we cannot imagine being part of it. 

It is your Part of thinking, also those Cortex Pay is deleted and in Reason you never sold us more then 1 meanwhile we produced our own Payment Solution with Diffrent Companies, which we already used as Picture now.

 

6) Becoming our competitor or liar. You have been ensuring us multiple times that you are not violating our license agreement by manufacturing competitive ATMs. Because we don't want our customers to copy our product which we sell to them. You assured us after you bought one of the unsuccessful bitcoin ATM company in Austria. You assured use again when you were considering to start manufacturing ATMs with gambling company (EDP).  You assured us again when some ourr potential customers told us that you showed them in your Wien office ATM that you claimed that is manufactured by you. In your ICO roadmap you claim that you will "Produce new generation of ATMs" and "ATMs will be available as white-label products". So either you lie to us or you lie to potential token holders.

We go yesterday 4 Hours with our wolrd Wide Law Team threw the License Agreement we have with your Company.
You did not Forbid us to „Produce our own ATMs“ So this is not an viloationg or any Agreement.

It is forbidden to do Backwards Engineering and all that Stuff, but clear ist hat you not Forbid us to Produce ATMs.
Which COINTED GMBH The License Holder is not Doing.

Cointed GmbH will not Produce his OWN ATMs anyway.

Cointed Ltd Produce his own ATMs with BITCOIN ATM „X“ in Reason you dont want to go with us to Diffrent Countries just that one YOU FEEL Comfortabel :-) Thats an Violating of our Business, because you are also not Able To say: „YOU CAN NOT PLACE ATMs FROM US WHEREVER YOU WANT“ thats again Violating Business Rules.
If we buy Hardware normally we can put it anywhere WE want because ist OUR Hardware, but we ACCEPTED your Wish: Dont do it in Turkey / Dont do it in Russia / Dont do it in Afrika and so on…..

And again There will be NO ATM from COINTED GMBH: Produced / Manufactured / Backwards Engineered or ANYTHING,…. Cointed GmbH Just bought GB and Run this.

Cointed GmbH will buy now LAMASSU Atms and run that one.

I'm sad to state that all previously mentioned contributed to the fact that we no longer have a trust in you, your company and its good intentions. We will of course continue to provide you with the support for products that you bought from us in past, but we will no longer sell you or any of your sister/mother companies our current or future products.

Ok it is an Business Decision and we can accept this, it is the way of Business.

If you wish to Incooperate instead of Cooperate we can accept and you will NEVER Hear anything BAD From you.
We already INFORMED you that some Customers are COMPLAINING about You (Remember Florim,…… )

 

Time to time GB's core principles close doors for GB to certain areas. Such as selling ATMs to gambling arcades, unstable regimes/countries, multilevel marketing schemes, scam coin projects. But we believe that our core values are more important than possible financial gains.

Ist an True Value, but i dont understand why you sell your ATMs to Multilevel Marketing Schemes anyway?
Or i know 2 ICOs which are also using GB ATMs inside and they still are your Customer.

Anyway discussion is not needed any longer.

We wish you good Luck and we are hot waiting on the „PROMISED DELIVERY DATES FROM VOJTECH“ for the „ALREADY PAYED LAST ORDER WHICH WAS PAYED BEFORE 2 WEEKS“

Greetings

Chris