In the light of the recent regulatory decision to qualify crypto-mining schemes as collective investment untertakings under the EU framework, it’s pretty obvious that crypto-investment schemes are to be seen as Alternative Investment Funds (AIF) whose managers need a respective license from financial authorities. This is at least the case in Austria now. The Austrian Financial Market Authority (FMA) made clear that raising money from retail investors to run a crypto-mining operation is an Alternative Investment Fund (AIF) according to the respective EU directives.
Most Crypto-MLM’s bill themselves either as “automated trading” venture or as “crypto-mining” operation, i.e. they raise funds from investors to invest the proceeds into more or less algorithmic businesses with hardly any other operational activity. This absence of operational activity is one of the key criteria for Alternative Investment Funds (AIF)
The Austrian crypto-mining scheme WACHSENDE WERTE, founded and run by Dietmar JOWANKA, obviously already reacted to the regulator’s decision. Today, the scheme’s crypto-mining offer to investors was not available for potential investors (checked: May 30, 2018, 8pm). Clicking on “To the Offer” link on their website didn’t link us anywhere. Currently, you obviously cannot buy any crypto-mining packages. No further explanation is given on the website or on the blog. Moreover, all social media links on the website are inactive.
Hence, we could conclude that Wachsende Werte already followed the regulators instruction to halt the business. Just an educated guess.
We will continue to screen and research the other Austrian crypto-mining ventures over the next couple of days to track the impact of the regulator’s decision. The decisive question here is whether those crypto-mining schemes can survive without fresh funds coming in. Cautious investors should doubt that.
Our offer is not down and Wachsende Werte is not affected by the regulatory measures in Austria. We ask you to immediately recant your knowingly wrong information!
Hi there, we again checked at your website http://www.wachsendewerte.at the link “Zum Angebot” (to the offer). It leads you back to the front site and no offer is presented as it used to be until recently. Additionally, we checked http://www.wachsendewerte.com, your international website, which produces an error message. We, again, checked your social media links on http://www.wachsendewerte.at and they are not linked with any social media account (hastag links). So, our report is completely in line with the reality (state: March 31, 2018, 9.55am). So were is our report wrong then? Actually, the offer site is not available and that’s exactly what we wrote. From our point of view, Wachsende Werte as cryptocurrency mining scheme may very well be affected by the FMA regulation even though we understand that you have a complicated structure which we already described in detail here on FinTelegram.
You are still wrong: you willfully misinterpret the linking mistakes. If you would click on the golden button “Angebote” on the right side of every page you see the offer page. Reason for the linking mistakes: our social media coworker left in March and removed some of our links. Correction is about to be done.
Wachsende Werte is selling mining equipment, which our customers may or may not give into hosting to one of our hosting partners. Much of the “complicated structure” that you describe, is therefore wrong.
Hi Mr. Jowanka, thank you again for your comment. We really appreciate public discussions around our articles and will never hesitate to correct errors. So we both agree that some of your website’s links don’t work and this is due to some internal problems with your “co-workers”, i.e. our report was completely correct and we are worried about your investors.
You haven’t explained why you took your international site offline (or why it produces error messages).
Finally, please let us know where exactly we made mistakes by pinpointing your structure. We would be more than happy to correct any mistake but until then we consider it correct. We have pictures of your Vienna mining centre, copies of documents and agreements, and statements of people involved. We are very careful with our claims but, then again, if we are wrong please let us know.
We think that you may be running an AIF with your Scryptmining eV according to the FMA decision but that’s not up to us to decide. We just care about transparency and investors protection.
Taking investors’ money should make you ready for answering critical questions, answering them builds up confidence, I guess.
Best Charlene
Dear Mr. Jowanka,
please let me give you a short update about the “offer function” on your website. Yes, your right, clicking on the right “golden button” on the front page of http://www.wachsendewerte.at directs you to an offer site presenting 3 offers. Clicking on the offers then has the same effect as clicking on the “Zum Angebot” on the front page. None! We, as a team, have not been able to order via your site. That said, it must have a significant impact on your revenue and cash flow. No new orders, no revenue, no cash. Would you agree on that view?
Best,
Charlene