Controversy dogs OneCoin’s blockchain whitepaper
The problem with OneCoin affiliates getting excited about their blockchain whitepaper reveal earlier today, is it suggests that OneCoin are only now using a blockchain.
Despite evidence to the contrary, OneCoin has maintained its Ponzi points have operated as a legitimate cryptocurrency since day one.
At a training event earlier today it OneCoin’s whitepaper was revealed… sort of.
Nobody was given a copy, nor were they told what the contents are – other than the whitepaper itself being ten pages in length.
The author of the document was revealed to be Marcelo Garcia Casil, CEO of DXMarkets.
As per their website;
DXMarkets integrates blockchain technology into enterprise-based financial processes, increasing efficiency and reducing costs.
DXMarkets works with a number of blockchain platforms to develop custom made yet universal and scalable solutions for each of its clients.
Basically for a fee, DXMarkets will design and implement a blockchain for your business.
Casil’s DXMarkets corporate bio cites him as a “technology guru” with ‘extensive experience designing and building large-scale enterprise-grade applications’.
How much OneCoin paid Casil (right) for his services is unclear. DXMarkets do list a legal advisor as part of their corporate team, but as a company are evidently fine with accepting stolen Ponzi investor funds as payment.
Upon learning Casil was the author of OneCoin’s blockchain whitepaper, Bjorn Bjercke reached out for answers.
Bjercke himself is a blockchain expert. OneCoin recently threatened him with legal action after he revealed the company was using a SQL database to record Ponzi point balances in lieu of a blockchain.
Intimately familiar with how a blockchain works, Bjercke thew Casil some pretty standard questions over Skype.
- When was the blockchain operational?
- Do the transactions happen in the SQL database or on the blockchain?
With OneCoin itself not making its whitepaper public, Bjercke also asked Casil for a copy.
Casil refused the requests, stating
I can’t send you the white paper, you need to get it from the OneCoin staff directly.
I’m bound by NDA and therefore I’m not allowed to distribute their material or to comment on their IT infrastructure beyond what I elaborated on the white paper.
I’m not afiliated with OneCoin Limited in any capacity and therefore I can’t comment on their behalf.
Short of swearing Casil to secrecy regarding the lack of an actual blockchain, I can’t think of reason OneCoin would make him sign an NDA.
I mean surely the whitepaper is intended for public consumption, right?
Bjercke continued to press Casil on why OneCoin’s current setup didn’t function like a legitimate blockchain.
Why are members unable to check their transactions from the blockchain?
Why there’s no transaction IDs on transactions, only traditional records on OneLife BackOffice?
There are not even time stamps in the transaction in the user wallet.
To which Casil replied,
I honestly don’t know the answers to those questions.
The work I’ve done was not based on their existing IT.
Bjorne sort clarification on this point and asked, “What is it based on? A future System?”
Casil confirmed the whitepaper indeed was.
This is inline with Kari Wahlroos’ whitepaper presentation, during which he stated
We have the blockchain being uniquely designed for the use of the company and being fit and proper for the use of the company.
Remember last year when OneCoin released its “new” blockchain?
At the Coin Rush event in London, OneCoin CEO Ruja Ignatova stood on stage and made everyone watch stock video footage of rolling numbers. As the footage played, Ignatova pretended to “switch on” OneCoin’s new blockchain.
With the revelation that a blockchain is currently being developed, what was all that about then?
And again the question arises, if OneCoin currently doesn’t have a blockchain, why have they been claiming they did for over two years now?
i’ve written to DXmarkets asking why they’ve done tech work for the biggest ponzi in the world today.
DXmarkets is a startup company and this Marcelo Garcia Casil seems to be an upstart who puts money before ethics.
well, he and his company will always have onecoin’s name attached to them. the internet never forgets.
casil’s bio says he’s an advisor at ColoredCoins.org and the Jetcoin Institute.
wonder how these guys will feel, having an advisor who provided tech and is a ponzi scheme enabler!
shame on DX markets and Marcelo Garcia Casil. for being cutting edge tech experts, they apparently don’t know how to go on the internet and type ‘onecoin’.
The whitepaper, as long as it contains any verifiable information at all, will cause embarrassment to the company if its description of the system contradicts its observable behavior — and at this point it is absolutely sure that the system will be scrutinized very carefully; I’m getting very curious myself.
But not publishing the paper would be even worse for onecoin’s public image. A pompous public announcement about the simple existence of the document which is supposed to prove us all wrong followed by *nothing* would make uncomfortable even the most fanatic followers. I don’t think they will not expose themselves to ridicule like that.
I expect that the paper will be very vague and superficial, but that it will be published. Or maybe I’m wrong and the thing will even contain real, factual information.
Give us the paper, Ruja. Don’t worry if it’s technical. We will manage.
The Onecoin Support Group (London/Scotland) is FURIOUS as this is now the final straw of hope that some clinged onto – although most have already come to terms that they were defrauded:
QUOTES FROM VARIOUS VICTIMS IN THE GROUP:
facebook.com/jennifer.mcadam2/posts/1489507024401862
From Bjorn:
(New members being added and informed):
STAY TUNED
By the way, weren’t they supposed to announce the reason why the white paper was not presented yesterday? I think I missed that.
What is the official justification?
@L – I think the dog peed on it.
From Casil’s Twitter timeline:
I wonder if the license is ongoing? That’d net DXMarkets a pretty penny I’m sure.
Also explains why he’s taking an NDA signed with a Ponzi scheme so seriously. Still not a peep on what OneCoin is currently using prior to this new DXMarkets licensed blockchain.
Although there’s also this:
Maybe OneCoin are using a different firm to convert SQL balances into ewallet balances and attach them to the DXMarkets blockchain? (starting to push the limits of my knowledge of what’s possible with blockchains here…)
We know OneCoin currently has some way of recording affiliate point balances (SQL database), and that they’ve paid DXMarkets to develop a blockchain for them.
The missing piece of the puzzle is who’s importing the SQL data into the blockchain…
Link to fairly long Twitter thread which FURTHER CONFIRMS this story, directly from the source: twitter.com/excessuk/status/861739090256945153
EXCERPTS:
WOW!
@Oz – you just covered this. Interesting who’s attached to this thread though, which includes Andreas Antonopolous, Bjorn and myself on one side; and a PPP (@OnecoinA – McMurrain maybe? Other high level crook who’s been fighting and smearing us Since at least December? PPP shill, nonetheless) and @N_Korbar – Nikola Korbar, who has been a featured speaker at at least one OneLife Network event recently, and the author of:
linkedin.com/pulse/what-has-onecoin-done-bitcoin-didnt-nikola-korbar
…which is how we discovered Bjorn Beorke!
Basically, Rujamama hired somebody to build *some* blockchain, then signed the guy to NDA so he can’t talk about it, nor verify it in any way.
Basically, it’s like Schroedinger’s Cat… The box cannot be opened… so so the cat is NEITHER ALIVE OR DEAD, and Rujamama will prevent you from opening the box at all costs, while claiming the cat is indeed alive, when it is just as likely there is no cat.
@K.Chang – Yep! AKA: “Invisible Pink Unicorn”.
Yeah, and what has S-Systems being auditing all this time?
The MS Office license on Ignatova’s laptop?
I’m sure the white paper will also clarify how and where the new system fits in the current infrastructure, and we will be able to infer some properties about it. After all, it’s “ten pages” of “very technical” writing.
Because if they first brag about the document proving how incompetent we are and then they keep it secret, we might feel authorized to laugh at them. And they don’t want to look like buffoons, do they?
Hey, hey. With L’s comment above we just hit 100,000 comments site-wide.
(17,095 of which are mine in case anyone was wondering)
Congrats Oz.
The OneCoin blockchain simulator data.
Block height (sequence) numbers mentioned in the last six audit reports of October 2016 up to and including March 2017 match with the ultimo month Block data visible on the OneCoin Blockchain explorer screens.
Schroedinger’s cat is the cat is BOTH alive AND dead at the same time until someone opens the box.
The whole point of Schroedingers experiment is that the cat cannot be both at the same time. That is still like Onecoin in that until people observe the “blockchain”, it is both real and fake at the same time.
c’mon oz. all those 100,000 comments is you hiding behind fake ID’s. ask ken labine! 🙂
if that license is ongoing, casil can still do the right thing and cancel it.
unless he wants to be remembered forever as the jerk who sold tech to the biggest ponzi in the world. he’s young and has a long way to go careerwise!
Thanks CryptoXpose!!!
We wont forget you, Marcelo Garcia Casil
twitter.com/CryptoXpose/status/861819190658945024
Thanks CryptoXpose, good work! But looking at some comments there, some people still don’t believe. All those OneCoin guys seems brainwashed.
casil is listed as the financial technology adviser to jetcoin institute [jetcoininstitute.com]
i have written in to jetcoin, informing them that casil is now a member of the blockchain tech underbelly which sells tech to criminals and is a ponzi scheme enabler.
AFAIK the bitcoin/blockchain community is relatively small, and it shouldn’t be difficult to get word around that casil has traded his tech for ponzi money.
all it will take, is few articles in some bitcoin tech publications about casil’s deal with onecoin, and he will be Toast.
casil seems to take pride in the fact that he is often invited to speak at blockchain conferences. with onecoin stamped across his smug face for posterity, who’s going to invite him to any reputable speaking event?
the bitcoin/blockchain community really needs to hang this guy up for everyone to see, he cant be allowed to get away quietly with a big packet of ponzi money in his pocket. he wants the money? let him keep it in exchange for his reputation!
Ari Widell, i just love the sentence…
Ari`up with article. The info we already know about, but we can always read again and in his version…
kusetukset.blogspot.com.tr/
Marcelo Garcia Casil will WITHOUT A DOUBT be looked upon by the cryptocurrency community and blockchain industry as one “Josh ‘Homero’ Garza” or Mark Karpales. Way to go buddy in securing your place in “the history of money!”
OFFICIAL STATEMENT FROM MR. YUSUF CHAMBERS – just posted on his Facebook page (Note: Mr. Chambers has been a highly respected scholar and …sort of a “celebrity” so-to-speak within the Islamic community.
Mr. Chambers fell hook-line-and-sinker into the Onecoin charade after being introduced by associates and has always taught and believed in empowering the people.
He was drawn to the false “pitch” which so many have been lured into, which included the whole “banking the unbanked” philosophy, etc.
Mr. Chambers believed this message of “empowerment” could change the world, and this wanted to spread the message, based on his humanitarian philosophy, as taught in the Holy Quran. Mr. Chambers has a huge following and has been very respected amongst Muslims around the world.
Last summer, Chambers had begun promoting Onecoin heavily …for about 3months before becoming cognizant of how leaders were recruiting (victims).
He had always taught and advised people to never put more money into it than one could comfortably afford to lose.
As Onecoin began expanding into some of the poorest nations, particularly in Africa, he became aghast at learning that one of the families in his downline, AS ENCOURAGED BY SOME OF HIS OWN UPLINE, had taken out a MASSIVE LOAN (for that demographic) of 30,000£.
In speaking with this person he came to realize that she and her family had been sold in a “sure thing” INVESTMENT.
That was the day he began scrutinizing the system and disregarding the indoctrination tactics Onecoin preaches, which is, “stay away and separate yourself from all ‘negativity’ from the Bitcoiners and ‘blogosphere!'”
He very quickly began to realize the purpose of such shielding and withdrew from any further recruitment and began advising his circles that Onecoin opportunity was growing increasingly suspect and no longer fit the mission for which he himself had been sold in the concept; but had rather become about GREED.
Mr. Chambers may be the first former Onecoiner to issue a more assertive warning against the scheme, as follows:
QUOTE (Facebook post today):
GOOD CALL YUSUF AND MAY ALL OUR GODS HELP US BRING DOWN THIS ORGANISATION.
Oz and Tim. – on Kari Wahroos FB page is a link to Onecoin press releases.
Two new ones from DX markets and the new CEO – the contents of which are laughable – so long as you read them carefully.
Incidentally if Pierre Arens does have the intellect to acquire two degrees including a masters from the Sorbonne then how does he excuse failing to comprehend that OC is a scam and mathematically impossible? And why has his appt “effective from March 15th 2017” only just been announced on May 7th. Of course OC make the rules as they go along. Normal large companies announce appointments within 3 working days. And where is Pablo really ?
Anyway It’s still all bluster and waffle from OC to keep the scam going a little longer……
Pierre Arens is a damned idiot!
SO, ITALY GERMANY HUNGARY are fake news as well???? Wake up Idiot!!! You cant fool us anymore.
twitter comments on Marcelo: twitter.com/bamsebk?lang=en
Laughable1
The new MLM underbelly fad: Facts we can’t or don’t want to explain or address = fake news.
Thanks Trump.
Blindness From Home still has comments section up on Pierror as Chief Executive Orificer.
Comment away, kids!
Great! Pierre Arens is a genius
Funny how no one who “works” for Onecoin ever puts it on their LinkedIn profile?
Well just the current and previous CEO for example!
Where is Pablo?
MGS Official Response: Onecoin/ Marcelo Garcia Casil – “I knew about it (Onecoin) …I fucked up.”
reddit.com/r/cofoundit/comments/6q2rm3/update_marcelo_garcia_casil_and_his_brief_onecoin/?utm_source=amp&utm_medium=comment_header
EXCERPT:
THIS WAS A VERY SIMPLE YES OR NO QUESTION! THERE WAS EITHER ONE OF TWO ANSWERS! PERIOD!
IF the answer was “yes, there was a blockchain,” DO YOU THINK HE WOULD BE BOUND TO NDA TO CLARIFY OF THERE WAS?!?!
Thanks for “nothing.” You’re answer emplies EVERYTHING.
Reminder: from Ruja Ignatova’s own lips regarding cryptocurrency:
Ruja Ignatova in Malaysia 2014 (our January 2015?): m.youtube.com/watch?v=ywCkNsLfU40
Obviously there’s something seriously wrong with OneCoin.
Read this mea culpa (sort of) by Marcelo Garcia Casil:
NOLINK://reddit.com/r/cofoundit/comments/6q2rm3/update_marcelo_garcia_casil_and_his_brief_onecoin/
Obviously if there was a blockchain Casil would be permitted to talk about it.
Have to read between the lines on this one. And what a fail that upon realizing there was no blockchain, he signed on anyway.
Marcelo Garcia Casil latest Ponzi scheme he should be put in prison: maecenas.co/team/