DIG Cryptocurrency, Update – 7/12/18
RE: DIG’s Arbitrade To Store Gold On Bermuda, Scott Neil, Royal Gazette
There are some worrisome comments here, particularly…
…“Michael Dunkley, the former [Bermuda] Premier who is now Shadow Minister for National Security, yesterday raised concerns about press comments made by Arbitrade, particularly regarding the unconfirmed government initiatives and the $1 million donation. He also questioned Government’s silence on Arbitrade’s comments, the decision by Mr Hogg to open his presentation by defending himself against social media and online attacks, and the conference ending with no questions being allowed.”
It is not crazy to be concerned with Arbitrade’s overpromises and underperformance at this point considering how much they have promised and how little they have actually delivered. Almost every deadline promised over the last 3 months has been missed. The airdrop was handled very poorly and has still not been fully explained despite more than one promise to do so.
On the other side, as we’ve noted in the past, what they are trying to pull together is a comprehensive crypto project involving multiple countries. There have been many scams in the crypto space and one would think if they are not the next one they would be taking more care that their actions match their words. Arbitrade’s words not lining up with their actions thus far is what causes us concern. On the positive side, at least one well known analyst is still affirming it as a high probability investment.
DIG – Arbitrade – Cryptobontix Still Speculative And Must Prove Themself
DIG, the crypto, and Abitrade or Cryptobontix, as the related companies are known, is still a speculative investment and investors may lose all of their money.
CS is downgrading our outlook on the profitability of investment to 50-50 from 60-40 until the company proves that it can keep its word and perform on promises. We remain much more pessimistic for the remainder of this year than some. Our price forecast – if the company ends up being legitimate and follows through with its promises – is $.50 by the end of 1st Quarter 2019.
As of today’s date DIG was trading around $.085 – $.095.
Also see, Bermuda To Introduce New ICO And Crypto Regulation, 7/14/18
Disclosure: The Publisher of CS owns DIG. Consult a financial advisor before making investment decisions. This page is for informational purposes only and should not be construed as investment advice.
Seaborn Hall 7/12/18, 7/14/18
See the Common Sense Money Home Page and this link for Updated posts and information on DIG/Arbitrade.