OneCoin increase initial investment to €18,800 EUR
It’s the end of the year and traditionally for Ponzi schemes, that means a run on the bank.
People who have been diligently compounding their invested funds year round want to cover holiday expenses, and that means a cash flow crisis for the MLM underbelly.
To remedy the situation it’s common to see Ponzi schemes to incentivize investment, which is typically tied into a holiday theme.
Looking to capitalize on Christmas and the upcoming Chinese New Year, OneCoin have just announced a new Festival investment package.
With Christmas and the Chinese New Year approaching, OneCoin has prepared an exciting surprise for all of you!
To celebrate the upcoming festivities, we offer a limited edition pack– The Festival Package!
For €18,800 EUR, OneCoin investors get 250,000 OneCoin tokens, a bunch of worthless OneVegas credits and 18,800 Business Volume (used to calculate residual commissions).
OneCoin have long operated on the ruse of selling educational packages, but interestingly enough there’s no mention of anything other than straight investment with the Festival Package.
What, not even a box of fortune cookies for €18,800?
Cmon guys, how are your affiliates going to keep up the “we’re selling educational packages” facade if the Festival Package is a straight 1:1 investment?
As at the time of publication, OneCoin are changing banks approximately once or so every month.
Evident banking and financial regulatory issues has seen OneCoin sign up with JSC “Capital Bank”, who are purportedly based out of Tbilisi in Georgia (the country).
Affiliate withdrawals have also been delayed for over a month now and support is purportedly non-responsive, leaving OneCoin affiliates in the dark as to the status of their money.
Questions from affiliates about withdrawals meanwhile are being deleted from OneCoin’s official Facebook page daily.
I sent following mail to their customer service (sorry for my bad english):
And they answered following:
This may be just misunderstanding but maybe they had some different business with onecoin early this year and they terminated that contract. Credit card processing?
But for sure they are still doing SOME business because Onecoin just changed their incoming banking here.
do not expect any response, Georgia is famous to license any criminal.
For example Payeer – a russian money laundering network got licensed there, it is not a matter of just corruption but of full ignorance, in time they will start cleaning up all the crap they created , after serious pressure from the international banks.
See how long it takes to sell any amount of onecoins (all packages)
I don’t doubt this cause in know a few myself. That’s the attraction of course $. They r also saying onecoin will go on foreign currency exchange in spring 2016.
One Coin has created over 25,000 six figure annual earners in 14 months!
ruja ignatova, in a speech to onecoin investors in stockholm, sweden, painted a rosy little picture about onecoin becoming bigger than bitcoin and plans of setting up a merchant network across the world so that the ‘poor’ who do not have access to banks will purchase their stuff using onecoin over their phones.
i mean, imagine how a poor villager in india, china or africa, whose village has no banking facilities, will be able to calmly pull out his phone and order stuff internationally!
though, i wonder how long delivery will take on mules? i mean, a population with no access to a bank, will hardly have a well developed transport system. right?
but what the hell, rujamama says the poor will embrace onecoin because it is easy and they can escape the grip of the banks and the government. i guess rujamama thinks Her Grip is safer than govt regulated banks and constitutionally regulated governments.
onecoin will focus their money collection drive on india and latin america next year.
according to ruja, india is very accepting of virtual currencies and even a little village in india may have a bitcoin exchange! [at this point i was ready to storm her video and b****slap her ass off that stage!]
in dec, 2013 the reserve bank of india [RBI] made a press release warning against virtual currencies [volatility/moneylaundering/terrorism/e-fraud].
VC’s are not recognized or regulated in india, and following this press release by the RBI, the few bitcoin exchanges in india shut down pending clearer regulation.
so much for rujamama claiming that ‘villages’ in india had bitcoin exchanges and india was very accepting of virtual currency!
ps: the fact that rujamama’s fat redlips invent lies about india is irritating enough, why does she have to do it blue gowns with plunging necklines and hair ironed and straightened to within an inch of their chemistry!!
this lady suffers from a serious case of the ‘princess syndrome’. there’s just no getting over herself!
the onecoin affiliate ranks are virtually trembling with excitement over the issuance of a ‘onecoin mastercard’ which will allegedly make ‘onecoin’ acceptable wherever mastercard debit cards are accepted.
apparently you can ‘load’ this onecoin mastercard and proceed to use it. question is – load it with WHAT?
commonsense says the card cannot possibly be loaded with onecoins since they are not a recognized virtual currency. so how does one load them? this is what affiliates are saying:
i think the onecoin prepaid card is just a mastercard prepaid debit card which has been issued in the name of onecoin. you can load it with euro and use it like any ordinary mastercard prepaid card. it has nothing to do with ‘onecoins’.
so, if ruja ignatova has convinced some agent bank of mastercard in georgia, to issue a prepaid card with ‘one coin’ embossed on it, what is making the quivering mass of onecoin affiliates anticipate that ‘onecoins’ are going to be accepted as payments across the world?
are they daft or something? that ken labine guy is jumping so hard he’s practically drilled holes in the internet!
I haven’t covered it because it’s just a debit card, tied to OneCoin ROI payments.
OneCoin points still need to be converted into actual money for the card to be loaded.
Well, the following just my own opinions about onecoin，English is my second language so I hoped that you will excuse me if I made some mistakes here.
I searched over internet and found plenty of negative info about onecoin, some said Dr Ruja’s qualification is fake and some commenting her photo on Forbes was paid ad.
I did watch some of her persentations on youtube, well not denying virtual currency (vc) is a must in near future, till now vc is still in its initial stage and the biggest challenge to vc is the security of the transaction.
More than 500 types of coins in the market currently but onecoin became top 5 in term of market values (referring to onecoin website for the number of mined coins and current coin value) , this all happened is less than 2 years.
Not deying Dr Ruja really did a great job. Microsoft, ebay or amazon not just been reconized overnight, they heve been to their hard times as well.
Vc is a whole new concept and it will not happenning in a short duration.
If onecoin is a real ponzi scheme, it might be one of the top case in term of value. A few hundred thousands investors with invested values of billions of euros.
IMHO If Dr Ruja plans to cheat, she should have run away with this much of money long time ago. Surprisingly she still loaded with plenty of coming events to promote her company.
As I searched over internet, after Macao event, still some big events like EU Summit and recently another one in Sweden. Coming events in Thailand in Dec 2015 etc!
To me she really put in a lot of efforts to promote Onecoin. To me Whether her qualification or photo in Forbes is real or fake doesn’t matter anymore.
How she lead Onecoin into next stage is what we should concern now. Well, time will tell……
You must be new the MLM underbelly. It’s littered with Ponzi schemes where admins both did and didn’t do a runner.
When the business model is “pay existing investors with newly invested funds”, concerning yourself with anything else is a waste of time.
The problem with this line of thought is being a CLOSED currency centrally managed by OneCoin itself, OneCoin is free to set its own value.
They can say it’s worth any value, and you can’t really prove it is… or it’s not.
There was some doubts about her education, but I don’t think anyone managed to conclude. She had posted at least two different versions on different websites.
Her Forbes interview is fake. It’s a paid Forbes BrandVoice “campaign”. That has been verified by Forbes’ Magazine itself when people have asked directly about it.
Her “The Economist – SouthEastern Europe Economic Conference” was also a paid sponsorship — she wasn’t invited as a guest but as a sponsor.
Onecoin isn’t traded on any exchange other than the internal one. So it doesn’t have any “market value”, it only pretends to have (similar to the Forbes interview, it pretended to be the real thing).
“Market Value” will require a normal, open market — the opposite of a monopoly with regulated prices, the opposite of “mandatory purchases” by a closed network of participants.
The VALUE of onecoin = the amount you can get in a normal market if you try to exchange 100 onecoins with goods, services or other currencies. That will most likely be close to zero. It will not be the same as the PRICE.
@Oz and others
A lot of the MLM experts from this board have classified OneCoin as an illegal ponzi scheme.
I recall this board saying the same thing about Zeek Rewards. And, as it turned out, it was a ponzi scheme.
Here is my point. Why didn’t the regulators bring charges against the PROMOTERS of Zeek Rewards?
These ponzi promoters know what they are doing. They move from one ponzi deal to the next. They know the regulators will not take action against them personally.
Sure, the regulators sometimes push for a claw back but even then, they typically allow a settlement of only 50% of the ill-gotten gains.
The regulators eventually get around to closing them down but until they start going after the PROMOTERS, the music will continue to play, and the con artists just change dance partners.
Regulation evolves just like anything else.
In Zeek we’ve seen net-winners sued, in TelexFree specific individuals had civil charges filed against them.
We haven’t had a major MLM Ponzi bust since TelexFree so that’s where we’re currently at.
I would like to see the promoters (not just the owners) of OneCoin here in the USA held personally responsible for the losses of those individuals they convinced to invest.
You can not blame the promoters all the time. Anyone with a basic common sense should know and recognize the fact that onecoin is fake, not a real Crypto Currency.
The information is on the internet free for everyone… just check the crypto websites and information blogs and forums. Then it will become clear, how a real crypto looks like.
Not like oncoin for sure… So people can just blame themselfs to be dumb and greedy.
i have written to mastercard europe, with information [behindmlm articles] about the onecoin ponzi scheme, and asking for a clarification on their relationship with onecoin.
i hope they will reply!
If can find this type of sure win investment, many are interested….
Send this video, where MasterCard is used to promote OneCoin.
It’s from the Macau Event, September 29 2015. 4 minute into the video, where Ruja Ignatova presents the OneCoin MasterCard and tell about her vision that people will be able to use onecoins directly through MasterCard.
That may be a problem for MasterCard. MasterCard or Visa certainly don’t have any plans to accept onecoins as a currency.
Include the short description in italics, but let them interpret it themselves.
will do norway. thanks.
I don’t think we’re talking about the same thing here.
1. You pay money / buy “educational packages”.
– let us forget the education, and focus on the tokens.
– – – –
2. You have tokens
– they can “grow in value” and “multiply through splits”
– so you will eventually get twice as many, more valuable tokens
– – – –
3. Tokens can be used to pay for mining
– and mining will produce onecoins
– – – –
4. so you will eventually get onecoins
Your money have eventually been converted into onecoins through a rather meaningless process, involving some digital units that cost nothing to produce.
Why do you see that as “sure win”?
The only thing of value there is the money you initially invested. That’s the only thing you can exchange with other things of value – out in the real world.
haha, that joker ken labine is now selling personalized ‘landing pages’ to prospective onecoin investors to help them recruit further. the landing pages come at a cost of 12$ per month.
the funny thing is that labine gets delirious with delight every time there is a ‘split’ and his precious onecoin tokens ‘double’.
fat lot of good all the splitting and doubling does, when even the hardiest of onecoin supporters like labine have to scramble around collecting 12$ per head to keep the home fires burning!
labine insists he’s doing it all for ‘charity’, but who’s going to really check? besides, charity begins at home so…
Did you get an answer from Mastercard?
can i invest in onecoin in india is legal or illegal.
Ponzi schemes are just as illegal in India as they are everywhere else.
Now OC have Withpaper, ICO, Dealshaker value 26.95e.