OneCoin cannot be used as payment method by merchants until 2018
The Facebook postings purportedly showing off merchants accepting OneCoin as a payment method are rampant.
I’ve seen restaurants in Europe, car dealerships in Asia, take-out joints in Australia – all represented as merchants accepting OneCoin.
You as a OneCoin affiliate simply walk in, purchase whatever it is you wanted, flop down your cell phone and pay with OneCoin.
This, OneCoin investors claim, is proof that OneCoin is a legitimate cryptocurrency.
As with most things related to OneCoin, turns out it’s a bunch of baloney.
OneCoin recently launched what they’re calling a “Mobile App Builder”, or MAB for short.
MAB is very much represented as a merchant acquisition tool, however it was unclear whether or not merchants could actually accept OneCoin as payment through the app.
In an effort to get to the bottom of this, a OneCoin affiliate emailed support to find out.
Here’s the support ticket, as sent in on October 17th;
I have (at least) seven merchants who are interested in becoming a member of OneLife so I’m seriously considering to buy the Seven Code Package for MAB, and the Infinity Package as well.
Two of the merchants only want a free Rookie account, but the others are interested in buying the Tycoon Plus, Premium and Infinity.
One of them wants to go for the Supreme Package!
BUT: there is one problem.
I have studied all 11 video tutorials and passed the test with 100% score but I could not find one word about a payment function, let along the possibility to pay with OneCoins.
It goes without saying that the possibility to be paid with OneCoin without limitations by any of our 2.5 million members is a prerequisite for all these merchants to spend any money on a package.
So here are my questions:
a. How can I adapt a Mobile app with a function to let the merchants be paid in OneCoins?
b. Will there be a free transfer of OneCoins from all OneLife members to merchants, i.e. without limitations?
If there are limitations, which are they (and WHY are they there)?
The ticket was promptly answered by OneCoin support within 24 hours;
OneCoin cannot still be used as a payment method as it is still not in public.
Once the currency is available in public, it will be officially announced to all our members.
Currently, the merchants can create their own mobile app but this does not mean that the coins are used as a payment method for the goods/ services that they offer.
The Merchants OneCoin-accepting platform is currently under development.
So there you have it. Despite all the nonsense on social media about merchants accepting OneCoin, until OneCoin goes public no merchants can accept OneCoin as a payment method.
At the recent OneCoin event in Thailand, Founder Ruja Ignatova announced OneCoin would not go public until the second quarter of 2018. That’s just under two years away.
So you’re probably wondering then, why is OneCoin permitting affiliates to spam social media with false claims of merchants accepting OneCoin as a payment method?
Well, according to OneCoin compliance, they shouldn’t be.
The latest OneCoin affiliate newsletter, sent out a few days ago, advises affiliates they are prohibited from making claims about merchants accepting OneCoin as payment.
IMAs are not allowed to promote acceptance of the OneCoin cryptocurrency by merchants as a mean of payment without prior express written consent of the Company.
To what extent OneCoin affiliates promoting various merchants as accepting OneCoin as payment obtained written consent is unclear.
Perhaps more pressing though is why affiliates, with the permission of OneCoin, are allowed to publicly lie about merchants accepting OneCoin at all.
As per OneCoin’s own support, merchants accepting OneCoin as payment is not currently possible.
Yes OneCoin affiliates who own businesses can accept internal OneCoin transfers from other OneCoin affiliates via the OneCoin backoffice, but it’s entirely disingenuous to present this as proof of OneCoin being a legitimate payment platform.
Worse still, it’s not just OneCoin affiliates circulating gross misrepresentations about what can and can’t be done with OneCoins.
12 hours ago a Facebook account bearing the name “Ruja Ignatova – Onecoin the Future of Payments” (@OneCoinRujaIgnatova), made a post promoting Silo Sushi in Australia as a merchant that accepts OneCoin.
This is the former CEO, founder and co-owner of the OneCoin.
While it could certainly be argued that Ignatova herself doesn’t need permission as per the OneCoin newsletter, as per her own support team, what she published earlier today is a lie.
The long and the short of it?
OneCoins are still Ponzi points that retain no real-world value outside of the OneCoin business opportunity. You can’t do anything with OneCoins (other than transfer them to other OneCoin affiliates), and this appears unlikely to change till at least mid 2018.
That is of course assuming OneCoin hasn’t collapsed or been shut down by regulators in the meantime.
onecoin has purposely been very opaque about the MAB and its ability to transfer onecoins from affiliates to merchants.
they launched MAB and top onecoin affiliates immediately jumped on to social media claiming hundreds of merchants had joined up:
it follows that affiliates are concluding that the MAB has made onecoin ‘usable’.
this is a conversation on the FB page ‘Ruja Ignatova – Onecoin the Future of Payments’ a few hours ago:
as soon as the truth dawns that onecoins are still not usable, sales of MAB will stop, much like the onelife tablet which was launched and failed soon after.
So this is Ponzi money circulating between members with useless cryptocurrency until mid 2018. Why regulators hasn’t stop this???
Kari Wahlroos, You are the biggest liar of all. No responsibility at all??
Here we have an other big liar:
What about you CEO Pablo, are you going to stay in the background forever????
To prevent anybody from claiming that the first screenshot in this topic is fake, it might be a good idea to add the hyperlinks to the complete screenshots (already present in the “Is OneCoin’s merchant app a €399 white-label platform?” topic).
@MikeR – thank you for that 🙂
I would made a clarification to the sentence describing OneCoin internal transferss. My suggestion is in bold.
Here is the OneCoin newslettler describing the internal coin transfer and it’s limitations:
There has been no announced changes to this coin transfer policy.
The Silo Sushi comment from yesterday suggested transfers could be made outside of the direct upline and downline?
silo sushi has taken down it’s FB post which had announced that it ‘accepted’ onecoins, citing too many callers and messages.
obviously, silo sushi ‘s lie that it accepted onecoins has been caught out and it has been exposed as a onecoin affiliate which can transfer a few coins daily upline or downline – which does not amount to ‘accepting payment in onecoin’.
silo sushi in true ponzi-pro fashion is now deflecting questions about onecoin payments:
really now silo sushi! talk about yourself! how can you declare onecoin will be accepted ‘everywhere in the future!’.
I suspect that was just BS. There was this kind of discussion on Silo Sushi FB page:
After this someone said that he/she can’t find this kind of option to transfer coins and needs clarification. And shortly after all these comments seem to be removed from the Silo Sushi FB page and infact the whole FB post.
And this appearead instead:
I suspect it was just BS what Silo Sushi claimed that it would be possible to transfer coins outside upline/downline.
It’s clearly stated by OneCoin itself that only upline/downline transfers are possible.
The new way?
ONE Money Team of to HANOI oct. 23
Here you are prompted to sign up before you come.
Please sign up to free onecoin account before you come to Event oct 23. Hooked…
Peter Shaw i recon, but who are the others?
So if I get it right:
You own a business and buy an “app” that you have to develop yourself for about 1000 EUR.
You invest that money hoping that one day you can use it.
After building the app, you will have to wait 2 “to use it” (I highly doubt that).
As everybody knows, mobile apps develop at fast speed so making one now for the future is nonsense.
What’s also nonsense is everything with onescam anyways… so what did you expect 🙂
Am I or am I not mistaken that OneCoin representatives in Bangkok event said that there are already 500 merchants accepting OneCoin? (Of course it was never true but apparently the top leadership can say so.)
And didn’t Kari Wahlroos himself say that “he can use his Onecoins in almost 1000 shops already”? (Obviously it has been a lie all this time but nevertheless he said so, against the company official stand on whether or not the coins can be used as a payment method.)
i miss the days when onecoin idiots like ken labine trotted out half assed arguments in support of onecoin. at least he honestly believed in onecoin, enough to try.
now he has the glazed indifference of a seasoned ponzi pusher – show me the money and i don’t care.
with no explanations forthcoming from either corporate or top recruiters to questions posed publicly, some signs of paranoia can be seen in affiliates – blame the bloggers, blame the bitcoiners, blame the haters, blame the googlers, and now even Blame Google:
who or what else is left to blame? google is helping hillary clinton win so that she can launch a secret CIA mission to snuffle onecoin? james bond secretly impregnated ruja to cause onecoin’s collapse? pablo munoz is satoshi nakomoto in disguise, come to kill his arch rival?
The rules have not changed indeed. This is the current text of the FAQ (visible after logging in):
Will sell one piece of sushi for 40 onecoins.
Not that I value onecoins just funny to have some and that sushi piece kind of went bad, selling as is, free worldwide economy shipping included. Contact me.
At 40 coin max per member..
How much is that worth inside of onecoin itself?
we know its not worth anything outside of onecoin.
Sounds like onecoin looks more like crap no matter how they try to hide it.
Bitcoin has nothing to worry about for a long time to come.
Can anyone tell me is the sushi is even worth a OneCoin in the first place?
If in theory OneCoin was real, there still wouldn’t be anything to worry about. On the contrary there would be much less to worry about if OneCoin was a real crpytocurrency and not a big MLM scam.
Unfortunately it’s not real, and it uses Bitcoin’s reputation to lure in non-technically aware people.
I mean the company consists totally of top MLM marketers, different level MLM leaders and starting MLM marketers, and unsuspecting home investors.
The technological side is a joke. They buy all the more complex tech from 3rd parties, like OneCoinCloud from pCloud and MAB from Siberian.
No CTO, no any kind of expertiese in blockchain/cryptocurrency. Nobody according to LinkedIn works with cryptocurrency or blockchains at OneCoin.
Couple of web-devs is the only tech they really have, and it’s not very impressive either. They make sometimes almost professionally looking marketing videos for casual eye, but in reality those are also done cheaply by buying ready made clips from video clip and image services.
Some convicted fraudster like McMurrain telling people in a YouTube video how OneCoin is not a ponzi. Jeez.
The whole OneLife/OneCoin scheme is ridiculous, horrible, funny, idiotic, frustrating, fascinating, blood boiling, unique, relatively new and quite succesfull scam for diligent MLM marketers and extremely succesfull scam for the top names.
I have tried to make a summary of the statements which have been made concerning the date from which merchants can accept OneCoins by means of the Mobile App.
Aron Steinkeller, Bangkok 1 October 2016
Point of time 1:24:23 – youtube.com/watch?v=lXqd-LLOke8&t=5063
Stephan Steinkeller, Bangkok 1 October 2016
NB: he talks like a 45 RPM record played at 33 RPM 😀
Point of time 1:28:09 – youtube.com/watch?v=lXqd-LLOke8&t=5289
Point of time 1:35:08 – youtube.com/watch?v=lXqd-LLOke8&t=5709
“Dr” Ruja, Bangkok 1 October 2016
Point of time 2:46:20 – youtube.com/watch?v=lXqd-LLOke8&t=9975
Point of time 2:50:45 – youtube.com/watch?v=lXqd-LLOke8&t=10246
Point of time 3:01:38 – youtube.com/watch?v=lXqd-LLOke8&t=10898
Staffan Liback – MAB presentation
Point of time 4:12 – youtube.com/watch?v=9I0c__h2KOE&t=252
So we have “in a few months”, “in future”, “at one point of time”, “one day”.
I have no idea what they will come up with, and when. But I’m sure there will be very rigid limits, because as soon as it will be possible to transfer coins to any OneLife member without limitations, the system will collapse.
By this I mean that the majority of merchants won’t accept the fake price which is determined by Ruja, but much lower rates. This would be disastrous for the trust in the system.
News from Ari Widell.”One Coin lose it’s HongKong Bank”:
OneCoin lost again a bank account today. Their Hong Kong bank account which was activated a bit over 2 weeks ago is not more available.
Currently left are United Overaseas Singapore, and Bank of Africa Tanzania:
If we can get those two shut down than we choke out the snake at the neck.
Unfortunately I don’t believe so. It’s very likely they will use again a cover company to open another bank account somewhere.
This is what they do, and they have even a pointed person to do just that: Li Dexin.
I wouldn’t be surprised if there was a ready made cover company and a new bank account will be published very soon.
Random observation: at the time of posting, the top 5 in Most Wanted (7 days) are all OneCoin-related.
However they have the burden of trying to find a new partner who they can trust a new bank account to. I bet it isn’t so easy amongst scammers. 🙂
Hi at #25 “I Hate scams”, on which most wanted list can we find them? any site we can visit?
They are referring to the “most wanted” list of blog posts on this site (BehindMLM). It’s located along the right site of the blog below MLM News and MLM Reviews.
Banking arrangements still seem to be the Achilles Heel I think, especially with most of the world having some sort of AML procedure.
Re banking, this on Ruja’s FB from Paulo Bozza:
From OneLife’s latest webinar, narrated by Paul Smith: youtu.be/rhy0BaaTD-g?t=7m10s
No one will never know the depth of the river until you jump. Same thing is one coin if any one think it is scam let them join free position later on you can upgrade if you succeed believe me it’s reality.
I join in July and now I am happy I am getting everything which they promised.
Uh right. Except that we have a ton of ways to gauge the depth of rivers without jumping into them.
Just like you can identify a Ponzi scheme without signing up.
Any more silly Ponzi cliches you want to toss out?
Except actual money. But uh yeah, you hold onto that backoffice money for dear life hey.
If people have told you it’s not a river, but a slip-and-slide, then it’s just stupidity.
All packages come with free all-you-can-drink Kool-Aid, eh?
Actually it’s not a river. It’s a pool of molten lava. And we’ve all been warning to no avail, “Don’t jump!”
@Oz – you called “It”
I think you finally gave “it” a proper name: “Back Office Money”
“It” is what OneCoin investors get when they send their money to a lady in Bulgaria. The get “Back Office Money”
“It” has no value but investors can watch “it” magically grow by 1,000 % per year in their “back office”.
It’s called the Whoop! Whoop! Effect. Spending hours, upon hours watching your “back office money” digitally increase in value as the amount of IT doubles and triples along the way.
Note: They pay money managers on Wall Street 7-figures per year for returns of 5-7%. So, 1,000 % annual returns sound perfectly reasonable since “It” is the Future of Money.
This is money that doesn’t exit yet. “It” takes time to magically double “It” So, for now, just watch “It” grow in your Back Office. Enjoy “It” – – you certainly paid the price for “It” (100% of whatever you sent)
So, just waIT until 2018 when “an unknown somebody” is going to sign up 1,000,000 business owners who are somehow more naive than the people who invested REAL money for It in the first place.
Yep, “It” is just Back Office Money. And that’s all “IT” will ever be.
I noticed a lot of the once vocal Ponzi Pumpers have gone silent on Facebook recently. Shhhhhhhh “it” is about to hIT the fan.
And, I for one can’t get over the number of Scammers & Con Artists who sold “IT” nor the stupidITy & ignorance of those who bought into “IT”! 🙂
IT’s been a hell of alotta fun watching members of this board expose OneCoin for what “IT” is though.
New video, part 2 starting at T 23:34:
Stephan Steinkeller gives a perfect explanation about the future possibilities of a new “umbrella application on top of all existing applications around the world.”.
T 25:13 “Imagine the network is selling now one million applications okay, and in the second stage this umbrella application will come on top of it, featured with a powerful search engine”.
The remainder of the video makes clear that in the future merchants can grant a discount (called a “partial payment”) to members of the OneLife family in exchange for Ponzi OneCoins which are (and forever will be) completely useless outside the community.
after promising affiliates about bringing merchants into the system and making onecoins ‘usable’, onecoin launched an overpriced merchant application builder [MAB] which has nothing to do with onecoin and its usability.
now comes this revelation of a new ‘umbrella’ app ‘soon to come in the future’ which is just a ruse to string affiliates along and act as a balm on the disappointment affiliates are feeling.
that’s how ponzi’s stay alive – by making false promises over older false promises – and people prefer ‘hope’ over an acceptance of loss and keep playing along.
I agree. And because these brainwashed ponzi’s believe everything their leaders tell them, I’m afraid that this scam can go on for at least one more year.
Oh mein Gott, zish is amuzing! Okay? “Let’s make the company proud!”
I like the part where he uses a vegetable shop as an example of a mobile app merchant.
dr zafar and tom mcmurrain going live on zafars facebook at 1 pm UK time today 24th oct 2016 .
Kimberley Tilley made this FB post thanking Tom McMurrain for stealing her money. Ole Tom is not your average Ponzi Pumper. He’s a Professional.
Any of the OneCoin scammers can pat you on the back with one hand while stealing your money with the other. The difference with a Pro like Tom McMurrain is when he does it, his victims actually thank him for robbing them blind.
Of course you have to be a complete idiot to believe a total stranger from Bulgaria has invented a way to earn 1,000 % annual returns. Tom picks his marks knowing they are not always playing with a full deck, so that helps.
This is an old video but it contains almost everything that Onecoin has promised but not delivered:
After 8 minutes Parhiala talks about how there going to be a lot of merchants available when 30 % of the coins has been mined.
Ruja has applied a bank license in Dubai:
Source code public after 70 % mined:
I wonder of they’d dare to use “it was Juha, he does not speak as the official voice of OneCoin” – card if the past promises become a problem?
Ponzi Scammer Kevin Foster Posted This Ad On His Facebook Page:
Or is it: #EducatedMinors Living #ACultofDummies #TheRippleIsTakingEffect
I have yet to see an honest post by Kevin Foster. When will he “come clean” with his friends, family members and social media contacts about what is actually going down with OneCoin/OneLife?
3307 people have lost ALL OF THEIR INVESTMENT and Kevin Foster will soon be learning the meaning of “clawback hell”.
3307 people will soon be “whining” and it could have been avoided. If only Kevin Foster would have bothered to open his eyes and use a little common sense.
Did he really believe in the magic of 1,000% yearly returns by Ruja? Was his 10% commission worth the pain and suffering Kevin has caused to so many?
It’s a damn shame!
this conversation a few hours ago on facebook demonstrates how difficult it is for onecoin affiliates to ‘sell their onecoins on the internal exchange’ ie encash their ponzi points.
I agree that OneCoins are completely useless outside the community.
The point you are missing is INSIDE the community. And OneCoin community at the moment have 2.6 Million members, it is bigger than the country i’m currently living in.
So, when 2,5,10,50 million member agree that OneCoin is worth something, you can be IN the community to make use of, or stay OUT and use your FIAT currency (that is also useless outside the FIAT community 🙂 )
And for all members that state cannot sell coins on the inside market, i also state it is true if they try to sell at the market price. If anybody is not satisfied with the value, i’m willing to buy his account for 35 eurocents per coin he have in the account.
This is very “bad” offer for new members, but for those who opened account last year it is a 200% profit on whatever package they purchased and waited for 2 splits before mining.
As you acknowledge, Ponzi points propped up by nothing is a “bad offer for new members”. So all you have are a bunch of initial investors lead to believe their Ponzi points are worth gabillions.
Trouble is nobody else does, so in reality the points are worthless.
You can’t actually do anything with OneCoin. And due to it being an increasingly “bad offer” (the pool of people willing to pay scammers for Ponzi points with an inflated internal value is not that big), sooner or later the whole thing will just collapse on itelf.
And please, enough with the currency analogies. OneCoin isn’t a currency.
Load of rubbish, you can use the onecoins on Dealshaker platform.
1. The “load of rubbish” came from OneCoin itself.
2. You’re not really paying for anything. You’re effectively getting a discount on useless crap nobody wants, if you trade in some Ponzi points.
Merchants can’t convert said Ponzi points for cash, so the whole thing will probably implode in a few months anyway.
Fiat currency, Bitcoin, metals, gems are available and useful for 7.5 billion people. What is the benefit of Onecoin and why should a business add additional burden onto themselves to use Onecoin?
Onecoin represents 0.036% of the market. Why would a company want to add additional infrastructure for 0.036% of the market?
Can the company use Onecoin to pay for electricity? Rent? Water? Raw materials? Can they exchange Onecoins for something they can use? Can it be done without fees?
So why would a company accept a loss when exchanging goods/services for Onecoins? What is the exchange rate that a business should be willing to accept so that they can pay for their rent,electricity, etc?
If businesses are only able to exchange Onecoins for 35 cents per coin, why would they accept payment at almost 8 euros per coin? So now you just caused your value of Onecoin to crash.
Now you just let the market dictate the value of your coin. Your purchasing power of your coin is only as good as the value a business can get on an exchange.
That value for you is 35 cents per coin. So why would a business accept anything more than the value you just set at 35 cents per coin?
This offer, 0,35 eurcent was from November. I think this days it seems very good offer.
More and more people are seeing what happen with there worthless scam coins, so Oliver, if Your offer is still validate…
they don’t exist so they can’t even be useless that’s how bad this scam is.