Good Day from Arbitrade and Cryptobontix
At Arbitrade/Cryptobontix we feel it is essential to keep our followers, investors, and token holders up-to-date with the latest information about our company and family of tokens. To accomplish this, we utilize a variety of communication platforms, such as email, press releases, and most recently, social media.
Unfortunately, due to the nature and massive scope of what we have created and the multitude of parties involved, including governments, we are often prohibited from disclosing specific information without first receiving approval from one or more of these interested parties, which can cause the release of information to become delayed. These delays are regrettable but unavoidable.
Recognizing that social media provides a venue for real-time updates and a forum for interaction between the company and followers and followers with each other, we have embraced it by establishing, among other channels, an official Telegram group.
This update is a bit lengthy and encompasses several topics, the least of which is a bit unpleasant and a direct result of our decision to embrace social media as a means of communication.
Later in this message, we have some exciting news about a new token we’ll be sharing with the community as well as important updates related to our pending launch dates, but before getting to that, we must first address several discussions that have been brought up in both official and non-official Telegram groups.
As stated previously, we embrace social media and all of its benefits, but some unscrupulous individuals have chosen to use it as a means to spread misinformation, information taken out of context, and make derogatory statements, claims, and accusations against Arbitrade/Cryptobontix. The intent of these individuals is to create what is commonly referred to in the cryptocurrency community as Fear, Uncertainty, and Doubt (FUD).
We can’t respond to every bit of gossip, fallacy or delusional comment being made about the company and its products but will address those we consider the most ridiculous and distorted.
For simplicity, we’ll refer to each of these as “ Gossip Topics” and give you the “Facts“:
Gossip Topic #1: 38 Main Street, Grand Bend, Ontario Canada is listed as the main office property for Arbitrade. A big deal has been made of this because it appears on Google Maps to be simply a small dress shop in a small beach community.
Fact: The truth of the matter is that this property has a large office upstairs that is owned by the original creator and owner of Arbitrade/Cryptobontix who chose to use the address on the original registration of both companies as temporary headquarters until more suitable accommodations could be acquired and setup. Since then, the new board of directors has taken over the company and the former owner is now working in the capacity of a consultant to the company.
Very shortly, Arbitrade will officially announce that it has placed an offer to purchase a seven-story office tower in the country where the business will ultimately be domiciled. The new headquarters will house 360 employees and be the head office of operations.
Gossip Topic #2: While a site for testing ArbiPay was temporarily visible to the public, someone chose to dig into the source code and discovered Badabing within it and made an issue out of it.
Fact: ArbiPay, which allows users to convert cryptocurrency holdings into a fungible asset easily and permits fast and secure per-to-per transferring, had been in development for over two years and is an amazing app; however, during that same time, the company came across a similar app named Badabing. Seeing Badabing as a superior product, with similar features, but one that can also operate in fiat dollars, the company quickly realized the potential of combining the applications and cross-integrating the platform with financial institutions and banks.
Although we had not planned to announce this until the end of this month, along with other news, Arbitrade has acquired Badabing in another acquisition. This software allows ArbiPay to become a leader in the banking sector, remittance sectors and PoS payment sectors plus so much more to will be revealed soon.
Gossip Topic #3: Perhaps because of the test site mentioned above being discovered during the brief point it was publically visible, derogatory comments have been made to the effect that our developers are “amateur hour.”
Fact: The URL that was live was a temporary test site for the developers to work out certain aspects and bugs before going fully live with the application. Testing has completed, the test site is no longer live, and should in no way reflect on the quality or professionalism of the team.
In fact, make no mistake, Arbitrade’s developers are at the top of their game and the Arbitrade and ArbiPay platforms are at the top of the industry standards.
There have been over 160 developers that have been working on every aspect of this platform and tokens for the last two years and, for the last six months, that number was increased to over 200.
Building products on blockchain technology like the ones our development team has is no small feat but our developers have risen to the challenge. Right now, we are in the middle of incorporating 11 top-level, cross-integrated applications into the Arbitrade platform, which is quite an accomplishment.
Gossip Topic #4: There have been insinuations and rumors that the company has no cryptocurrency mining rigs and the facility in Watford, Ontario has not been under refurbishment for months now to house a farm of mining rigs there.
Fact: The company has already purchased 8,000+ cryptocurrency mining rigs and will start deploying them under their operating names, such as Dignity, soon.
For example, 5,500 mining rigs are being deployed in Atlanta as we write this. 5,000 will be deployed for Dignity (DIG) and the remaining 500 for Reciprocation (ECHO). Additionally, the company has already launched 50 Innosilicon D9 miners that harvest Decred and are getting phenomenal results right out of the starting gates.
The facility in Watford Ontario is also going online in a matter of days with over 2,800 mining rigs there that are ready to deploy with more showing up on a daily basis. Ronnie Moas, the analyst that has been a good supporter of the Dignity token, has been invited to tour these facilities in person, once they are up and running, very soon.
Gossip Topic #5: The Gold bullion that will be backing the Dignity (DIG) token. There was a big stir in the Telegram groups about the wording of paying off “bullion debt” towards the gold in a communication sent on May 8th.
Fact: Arbitrade is acquiring $8.7 Billion worth of the four bullions (gold, silver, platinum, and palladium) that will back the company’s four major tokens. An $8.7 Billion acquisition is a huge amount of money, in fact, it is at least three times larger than any ICO to date, especially considering Arbitrade chose not to hold an ICO and has been funded by friends, family, and insiders up to this point.
This gold acquisition is similar to that of a house purchase and a mortgage:
In a nutshell, the entities that are selling us the bullion are giving us title upon closing, meaning we own it like a person would if they purchased a house. Then they place a debt against said bullion under a structured financing over a certain period of time, which would be similar to a mortgage. 50% of the daily mined proceeds is applied to that debt. The only difference between a house mortgage and the Arbitrade bullion acquisition is that every day a certain amount of the bullion becomes wholly owned by the tokens each of the four bullion represents.
This wholly owned bullion is what can be redeemed each year during the utility token swap period if desired.
The payback period of the bullion will be extremely aggressive as Arbitrade is lining up the largest deal ever placed for mining rigs in the history of the industry, with Coin Miner. Coin Miner has developed a GPU mining rig with 600 hash power and running at a low wattage, which makes these one of the most powerful mining rigs on the market.
The Nelson Mandela golden hands acquisition was a way the company decided to kick off this monumental event and mark many great things for years to come. Although the company paid $10 million for this acquisition, along with the company, many high-end artifact/art collectors and appraisers believe that these hands could be worth over $50 million in the years ahead. This makes for a smart investment towards the Dignity gold holdings and to mark the company’s objectives to help everyone in need globally over the next several decades and our symbol, like Nelson Mandela’s, to fight for equality, health and happiness.
Gossip Topic #6: The final issue that needs to be addressed is the C-CEX UNY/DIG transfer difficulties and the claims that Arbitrade has not done enough to get this matter resolved quickly.
Fact: We have done everything within our powers to get this matter resolved, but the problem remains with C-CEX. Even after paying C-CEX 2.5 BTC before they would agree to do the swap, we were told the swap was a success even though it wasn’t.
This exchange has been a bloody nightmare to be blunt. We tried to cooperate, we even made a move to purchase the exchange, but the owner/operator will only respond at their convenience and desire. The exchange only allows us to contact them through email and Skype and they only respond when they are publicly humiliated for not assisting in the situation.
Until just earlier today, C-CEX has been ignoring all our communications from management and developers trying to fix the DIG contract and allow people to remove their tokens.
At the moment, it seems they are willing to work with us again to fix the issues.
Now, on to the updates…
We have been advised today that the release of the website, white papers, executive summary, etc., which were scheduled for tomorrow, the 25th, has to be withheld until the news about our home domiciled licensing is announced. We had initially been scheduled to present everything to the governments we are working with on the 24/25th of this month, but it has now been confirmed for Thursday, May 31st, which will be an all-day affair.
We suspect that we will be able to legally announce our positions, our only ICO for Arbitrade, the bullion holdings, our home office location, etc. on June 1st and are extremely excited to do so. We know this has been a very long road for the people interested and following our progression, but our owners and board of directors want to do this properly and without legal issues. That being said, the development behind the scenes for Arbitrade has been progressing extremely well as all the pieces of the puzzle are being brought together.
On that note, now for the GOOD news…
Just like in any business, you can plan for perfection, but you can’t always get it perfect. We have seen this ourselves in the past number of months, but our team of professionals have their eye on the prize for everyone’s best interest and are aiming for these deadline dates to be 100% ready.
We wanted to thank the community for their support in seeing us through our growing pains, so we plan on hosting an airdrop of an exclusive new “bonus token” on the official word and release of the long-awaited news for these projects.
The token name has yet to be revealed and, for the purposes of this update, we will simply refer to them as “bonus tokens.”
This idea was generated by the community on Telegram that shares their thoughts with our social media managers whom, by the way, are not a part of the company, but supporters themselves that we allow to operate our official community as social managers.
The “bonus token” will have the same structure as the others that are backed by mining with a commencing number of 350 rigs. They will be online and operational by the announcement date if all goes as planned.
The “bonus” token will be listed on a few exchanges and will be the first truly decentralized token in the crypto space as we are only issuing the exact number of tokens being held by DIG holders outside of the company and its partners. What this means is that anyone holding DIG will be airdropped the new tokens for free as a bonus!
This token will not be managed or controlled by anyone within our company after the issuance. To accept the airdrop, you will have to move your DIG tokens to a non-exchange wallet, which means we will make 100% sure that the situation at C-CEX is resolved for those token holders prior to doing this.
A third party such as Coin Miner will be retained to manage the token’s mining efforts and they will be paid from 25% of the daily mined proceeds. The mining rigs will also be hosted by a third-party data center in order to keep these rigs and this token truly decentralized. We are down to five potential third-party candidates that can assist in this effort for mining management and hosting. Negotiations are ongoing and a decision will be announced by week’s end.
50% of the daily mining efforts will go into the support of the tokens on the exchanges daily. A Board of Directors will be selected from the token holders to be temporarily appointed by our management staff to manage the future and growth of the token so that no one organized entity controls these. This will make these tokens the very first self-monitored and truly decentralized token in the world.
This will be a temporary action, as the future of the token will be based on votes by the community of token holders. Each person will have one vote for every token held. We will write smart contract by-laws protecting all token holders so that majority vote owners can’t vote in a negative action against the rest of the community of token holders. There will be advantages to holding more of the “bonus token” towards voting rights, but that will all be revealed in the coming days.
This is somewhat similar to the ECHO model with additional twists. The mining will support the token and the growth will be based off of 25% of the daily mining efforts going in to buy more machines. This will create an exponential growth token with no end in sight. The mining will essentially create the liquidity for the token and will be managed by the elected board. Arbitrade management considers it a thank you gift from us to you for helping us through our growing pains.
The announcement of this new “bonus token” and the airdrop will be soon, and you will have limited time to take action.
Anyone that has not moved their DIG tokens to a private wallet and chooses to keep them on an exchange during the period of the airdrop will miss out on the opportunity to acquire the “bonus tokens.” The reason for this is that if DIG is still on an exchange at the time of the airdrop, the exchange will actually receive the “bonus tokens” themselves and likely keep them or the “bonus tokens” will be otherwise permanently lost.
The company will not be held responsible for the loss of tokens resulting from failure to follow instructions, as there is a finite amount of tokens for the airdrop.
We expect these tokens to take a great leap of value year over year and will truly be a first of their kind.
Major Points to Remember About the New “Bonus Token” Drop!
- To receive the “bonus tokens,” DIG cannot be held on an exchange during the airdrop.
- DIG holders will receive the “bonus tokens” for free on a 1:1 basis.
- The number of “bonus tokens” issued will be the exact number of tokens not being held by company insiders and partners.
- Those numbers will be grabbed from etherscan next Friday morning and only DIG holders at the time the information is grabbed will receive the free “bonus tokens.” You MUST hold your DIG in the off exchange wallet until the new token has been delivered, which may take up to one week to fully complete.
- The “bonus token” will be listed on a minimum of two exchanges to possibly five.
- Liquidity is generated by mining starting with 350 rigs and growing monthly.
- The company will not support nor make up for anyone that didn’t listen to these instructions.
- Compatible Third-Party Wallets:
- Exodus Wallet
- MyEtherWallet (MEW)
- Trezor Hard Wallet
- Ledger Hard Wallet
- Bread Wallet
- Mycelium Wallet
- DIG tokens can be transferred onto exchanges again, once the airdrop has completed.
Do your due diligence and be ready. We are literally doubling your holdings at no cost so now you will own two different tokens.
More information regarding the “bonus token” airdrop to follow.
On a final note –
The FUDsters in the Telegram group, for lack of a better term, must have nothing better to do than to spread FUD to try and undermine the company’s progression and developments. No matter what is said in social media, unless it is said through one of the company’s only endorsed social media channels by one of the company’s endorsed third-party social media managers, don’t believe it. We are the first ones to share when things are good or bad in nature, and everything else is simply speculation created by people trying to manipulate the token value for their own selfish reasons. The company does not support these types of actions and will deal with them swiftly and appropriately when necessary.
Those social media channels are only two, Twitter and Telegram. Here are the official links:
Telegram: https://t.me/ArbitradeOfficial (community group)
Telegram: https://t.me/ArbitradeOfficialNews (news channel)
Twitter : https://mobile.twitter.com/ArbitradeX
All other links are not supported or a part of the Arbitrade projects and acquisitions and should not be regarded as such.
We apologize for the delays, but we are following the guidance of governments and attorneys to make all the correct decisions on behalf of the DIG, Arbitrade/Cryptobontix communities.
Makes two key senior management appointments – a new Chief Financial Officer and Senior Vice President of Technology and President of its subsidiary, ArbiPay
NEW YORK, May 10, 2018 (GLOBE NEWSWIRE) — Mr. Leonard Schutzman, Chairman and Chief Executive of Arbitrade, a leading coin/cryptocurrency exchange, has announced the appointment of three new independent directors to Arbitrade’s board together with two key executive appointments.
Mr. Brent M. Longnecker will serve as Chairman of the Compensation Committee. Mr. Longnecker has more than 30 years experience in consulting for public and private organizations and has built one of the country’s leading, privately held executive management consultancies, serving both domestic and international markets. Mr. Longnecker serves on the board of the National Association of Corporate Directors (NACD).
Mr. Bob DeRodes has over 45 years of experience in information technology, focused primarily in four industry sectors – banking, airlines, payments and retail. He has spent 15 years automating regional banks and was President of Sabre Development Services and CEO of Delta Technologies. He was also CTO, Citibank Global Cards and Executive Vice President of First Data Global Operations & Technology. He served as Executive Vice President and CIO of Target Brands, Inc. Mr. DeRodes has significant experience in cyber security and has been an adviser to the CIO of Homeland Security.
Mr. William Transier has also been appointed to Arbitrade’s Board of Directors. He is Chief Executive Officer of Transier Advisors, LLC, an independent advisory firm providing services to companies facing stressed operational situations, turnaround, restructuring or in need of interim executive leadership. He was co-founder of Endeavour International Corporation, and international oil and gas exploration and production company. He also served as Chairman, Chief Executive Officer and President of Endeavour from September 2006 until December 2014 and then as non-executive Chairman until his retirement in November 2015. He was Executive Vice President and Chief Financial Officer of Ocean Energy, Inc., from March 1999 until April 2003 and served in various roles including KPMG, LLP, including that of partner in the audit department and head of its Global Energy practice, from June 1986 to April 1996. Mr. Transier is Chairman of the Board of Helix Energy Solutions Group, Inc. He has been a member of its board since September 2000 and currently serves as lead Director on the Board of Directors of two non-public companies were he is the lead independent director.
Mr. Schutzman was also pleased to announce two key senior management appointments for Arbitrade and ArbiPay, Arbitrade’s banking system subsidiary.
Mr. Larry Meyer has been appointed Executive Vice President and Chief Financial Officer of Arbitrade. He brings a wealth of financial management experience to the company, having served in numerous positions during a decade with PepsiCo including Regional Finance Director for Pepsi Cola International where he expanded the company and restructured operations. During the decade of the 1990’s, while both companies were public, he was Chief Financial Officer at Toys R Us International where he expanded the business and he was CFO of Gymboree where he turned around the company. From 2001 to 2012, he was Executive Vice President and CFO of Forever 21 during which time the business few from a regional chain to a global brand. He was most recently Chief Executive Officer of Unniqlo’s U.S. business. Mr. Schutzman said, “Larry’s brilliance as a strategic thinker, combined with his deal making ability and formidable international experience, makes him a perfect addition to Arbitrade’s executive leadership team.”
Mr. Mohammad Markatia, already a Director of Arbitrade, has joined the company’s management team and will serve as Arbitrade’s Senior Vice President of Technology. He will also serve both as President and President of Technology at ArbiPay, Arbitrade’s payment systems subsidiary company.
In announcing these key appointments, Mr. Schutzman said,”Arbitrade and our subsidiary company, ArbiPay, are fortunate to have the services of these 5 talented executives. They add strength to a Board of Directors and senior management team that provides experience and capabilities which are unrivaled in the fast growing and dynamic cypto currency and payments industry.”