Dagcoin Review: OneCoin affiliate launches Ponzi points clone
Dagcoin operate in the cryptocurrency MLM niche and is headed up by founder and CEO, Nils Grossberg.
According to his LinkedIn profile Grossberg is based out of Estonia.
Grossberg claims Dagcoin’s
mission is to provide alternative currency for everyday use, focusing on the Asian market where we help unbanked people to manage their assets better.
Sound familiar?
Prior to founding Dagcoin Grossberg was a prominent European investor in the OneCoin Ponzi scheme:
Grossberg registered the Dagcoin website domain in late April. He appears to have ceased promoting OneCoin around the same time.
Read on for a full review of the Dagcoin MLM opportunity.
Dagcoin Products
Dagcoin has no retailable products or services, with affiliates only able to market Dagcoin affiliate membership itself.
Once signed up, Dagcoin affiliates are able to invest in the dagcoin cryptocurrency.
Dagcoin is not publicly tradable and has no value outside of the Dagcoin MLM opportunity.
The Dagcoin Compensation Plan
Dagcoin affiliates invest in dagcoin on the expectation of a ROI:
- Starter – invest $100 and receive 100 dagcoins
- Explorer – invest $500 and receive 500 dagcoins
- Advanced – invest $1000 and receive 1000 dagcoins
- Expert – invest $2500 and receive 3000 dagcoins
- Pro – invest $5000 and receive 6000 dagcoins
- Mentor – invest $12,500 and receive 17,500 dagcoins
- Investor – invest $25,000 and receive 35,000 dagcoins
Funds invested by recruited affiliates are used to pay commissions and bonuses through the Dagcoin compensation plan.
Note that 35% of all affiliate commissions paid out must be reinvested back into dagcoin.
Dagcoin Affiliate Ranks
There are eleven affiliate ranks within the Dagcoin compensation plan.
Along with their respective qualification criteria, they are as follows:
- Affiliate – sign up and invest in dagcoin
- Junior Manager – generate at least $10,000 in investment volume on your weaker binary side
- Manager – generate at least $25,000 in investment volume on your weaker binary side and recruit and maintain at least two Junior Managers
- Senior Manager – generate at least $50,000 in investment volume on your weaker binary side and recruit and maintain at least two Managers
- Junior Vice President – generate at least $100,000 in investment volume on your weaker binary side and recruit and maintain at least two Senior Managers
- Vice President – generate at least $250,000 in investment volume on your weaker binary side and recruit and maintain at least two Junior Vice Presidents
- President – generate at least $500,000 in investment volume on your weaker binary side and recruit and maintain at least two Vice Presidents
- International Junior Vice President – generate at least $1,000,000 in investment volume on your weaker binary side and recruit and maintain at least two Presidents
- International Vice President – generate at least $2,500,000 in investment volume on your weaker binary side and recruit and maintain at least two International Junior Vice Presidents
- Ambassador – generate at least $5,000,000 in investment volume on your weaker binary side and recruit and maintain at least two International Vice Presidents
- Crown Ambassador – generate at least $10,000,000 in investment volume on your weaker binary side and recruit and maintain at least two Ambassadors
Weekly Reward
Dagcoin prohibit affiliates from doing anything with invested dagcoins for 8 months.
During these 8 months Dagcoin pay a 3% weekly ROI on withheld funds.
The weekly ROI is paid in dagcoin. 50% of the ROI is withheld for another 8 months and 50% is paid directly to the affiliate.
Recruitment Commission
Dagcoin affiliates are paid a 10% recruitment commission when they recruit new affiliates who invest.
Residual Commissions
Dagcoin pay residual commissions via a binary compensation structure.
A binary compensation structure places an affiliate at the top of a binary team, split into two sides (left and right):
The first level of the binary team houses two positions. The second level of the binary team is generated by splitting these first two positions into another two positions each (4 positions).
Subsequent levels of the binary team are generated as required, with each new level housing twice as many positions as the previous level.
Positions in the binary team are filled via direct and indirect recruitment of affiliates. Note that there is no limit to how deep a binary team can grow.
At the end of each day Dagcoin tallies up new investment volume on each side of the binary team.
Affiliates are paid a 10% commission on matched volume, with leftover volume on the stronger side carried over to the following day.
Matching Bonus
Dagcoin affiliates are paid a matching bonus on residual commissions via a unilevel compensation structure.
A unilevel compensation structure places an affiliate at the top of a unilevel team, with every personally recruited affiliate placed directly under them (level 1):
If any level 1 affiliates recruit new affiliates, they are placed on level 2 of the original affiliate’s unilevel team.
If any level 2 affiliates recruit new affiliates, they are placed on level 3 and so on and so forth down a theoretical infinite number of levels.
Based on how much an affiliate has invested, Dagcoin pay a matching bonus on up to five levels of recruitment:
- invest at the Expert level ($2500) and receive a 5% match on level 1 (personally recruited affiliates)
- invest at the Pro level ($5000) and receive a 5% match on levels 1 and 2
- invest at the Mentor level ($12,500) and receive a 5% match on levels 1 to 3
- invest at the Investor level ($25,000) and receive a 5% match on levels 1 to 5
Rank Achievement Bonus
Dagcoin affiliates receive the following Rank Achievement Bonuses when they qualify at the Junior Manager and higher ranks:
- qualify as a Junior Manager and receive a “global event ticket”
- qualify as a Manager and receive five “event tickets” and a “global event ticket”
- qualify as a Senior Manager and receive an iPad Mini 64 GB and “global event ticket”
- qualify as a Junior Vice President and receive “latest iPhone 128 GB” and a “global event ticket”
- qualify as a Vice President and receive a Macbook Pro and “global event ticket”
- qualify as a President and receive a “luxury vacation for 2 people for 2 weeks” and a “global event ticket”
- qualify as an International Junior Vice President and receive a Rolex watch and “global event ticket”
- qualify as an International Vice President and receive a 500g gold bar and “global event ticket”
- qualify as an Ambassador and receive a “premium car or 50k towards a car” and “global event ticket”
- qualify as a Crown Ambassador and receive “real estate or 100k towards real estate” and a “global event ticket”
Joining Dagcoin
Dagcoin affiliate membership is tied to investment in dagcoin:
- Starter – $100
- Explorer – $500
- Advanced – $1000
- Expert – $2500
- Pro – $5000
- Mentor – $12,500
- Investor – $25,000
There is also a $20 Basic membership option, however Basic Dagcoin affiliates don’t receive a weekly dagcoin ROI.
Conclusion
Minus the ballroom gowns, Dagcoin is about as close to a clone of OneCoin as you can get.
Same “selling education” ruse. Same riding on the coattails of bitcoin marketing pitch. Same promises of merchants, e-commerce, public trading etc. etc.
On their website, Dagcoin claim their cryptocurrency is “300x faster” than bitcoin and has “30x cheaper transaction fees”.
Being the only platform that accepts dagcoin at the moment, this is hardly surprising.
Dagcoin’s “education courses” are irrelevant, with dagcoin itself what affiliates are investing in.
Despite offering an investment opportunity, Dagcoin fail to provide evidence of registration with a securities regulator in any jurisdiction they operate in.
Amusingly, one of the stated goals of Dagcoin is to maintain “good relations with governments and authorities”.
I suppose for now that translates to flying under the radar for as long as possible.
The Ponzi points model used by OneCoin and Dagcoin is simple enough.
Affiliates invest real money and are given worthless points. Dagcoin assign an ever-increasing value to those points and affiliates cash out a ROI.
Dagcoin do provide wallet and blockchain links on their website, but as of yet the coin is not publicly tradeable.
If they do manage to get it listed, the internal value of Dagcoin will mean nothing. Without any practical use dagcoin’s public value will approach zero once affiliate recruitment dies down.
What’s particularly nefarious is Dagcoin prohibiting affiliates from doing anything with invested dagcoins for 8 months.
This might seem like an arbitrary number but it’s probably about as long as Nils Grossberg figures he can keep the ruse going.
After eight months the public value of dagcoin will have likely collapsed and Grossberg will be long gone with your money.
My question is this, why are these seemingly dubious groups allowed to operate without any control? Onecoin, ccbmlm dagcoin all have similar formats
Crappy regulation in countries that don’t give a damn unfortunately.
It takes victims to make a suspect scheme an actual crime/scam. While it can’t be anything else, it takes a lot higher standard of proof to convict them.
Beware of Dagcoin… it is a SCAM.
Dagcoin website has changed to daguniversity. Its company CEO name is Nils Grossberg, he blocked around 1200 team member accounts and let team member can not withdraw cash out.
It means investor’s money was gone, and this investment maybe flow into CEO Nils private bank account.
We true suspect it is a big scam and need more professional expert to investigate this invest platform. Hope more and more people to support investigating.
Kari wahlroos promote this scam now. Lots of problems allready.
Ken Labine has now made the shift from ONECOIN to DAGCOIN…claiming that “Onecoin may not be on a public exchange…but those who wait will profit” .. in addition to claiming he used 500 Onecoins to buy and egagement ring…
Looks like the shift has started as many of the OneCoin Leaders are pushing this….including of course the CEO Nils Grossberg was the biggest leaders in Europe for Onecoin back in .late 2016 and then he realized in early 2017 that Onecoin was bogus and finally Clipped his cord to Onecoin in March….which was the start of the mass leader EXODUS that continues today wihin Onecoin…
Please do not invest in this coin… Trust me it is 100% scam currently….
It seems that Dagcoin has authtentic looking white paper: (Ozedit: Link removed, domain deregistered). Basicaly a Byteball fork.
Everything Kari or Labine are involved in is a scam but this might be little more sophisticated scam than OneCoin. They moved on to next level in crypto scam industry, this time with technically better/more credible scam props.
They have a better white paper, good enough to actually make public but that’s just the first and lowest hurdle. By the way, read the disclaimer, it’s a hoot.
Onecoin made the conscious decision not to have a working blockchain and not to be publicly tradable, it allowed them to control the alleged “price” of their coin in a way that would have been impossible otherwise.
If people could get 25 cents for a onecoin millions of them would be sold for that amount near instantly. This despite how ever many Euro Ruja pretends her coin is worth. Quite simply this is how open markets work.
Dagcoin faces the exact same problem, either engage in an open market and let that market dictate their coin value or pretend their coins are always and only increasing in price. It can not do both.
Aye there’s the rub. No MLM altcoin has ever held legitimate market value for more than a hot minute and none of them ever will.
@ GlimDropper
25 Cent? The real “value” of the bulgarian shitcoin is even lower:
share-your-photo.com/img/1637a0b4e2.png
Source: onecoinsign.com/exchange
Wow. But how are people selling their ONE COINS for 3.5 cents anyways… If I had 100,000 coins… I would take 3500 U.S. Dollars ALL DAY LONG and continue running for the hills..
The price of last sale tells nothing about the volume, I presume? When NanoCoin scam coin went for sale its value dropped and dropped until it came to halt.
Why to halt? Well there simply were no longer coins being sold because nobody wanted to buy them for the price “that high” (compared to the real value of zero) and nobody wanted to sell for price “that low” (compared to the price they paid for their scamcoins).
topmost level onecoin scammers igor alberts and his wife andrea cimbala have dumped onecoin and joined dagcoin.
this is a photo from richard carvalho’s FB page who is the ‘asian ambassador’ for dagcoin:
facebook.com/photo.php?fbid=1460424760743780&set=pcb.1460425017410421&type=3&theater
igor&andrea claim to have a team of 300,000 distributors.
with better technical props [whitepaper, presence on github] than onecoin, and bigtime scammers getting into recruiting, dagcoin could create huge investor damage in 2018.
gotta keep an eye on dagcoin’s scammy activities this year!
i started a thread on github complaining that it’s a pyramid scheme but the programmer from the company ignite ou, who are developing this coin for nils grossberg, closed the thread. dang!
alberts and cimbala seem to have some [paid] influence with ted nuyten of business-for-home, as that site tracked their scam career in onecoin with several laudatory articles about their ‘success’.
hardly a surprise then, that nuyten has published his first story about dagcoin. with only around 30,000 affiliates, it’s strange that ted nuyten thought dagcoin was worth talking about.
in an article titled ‘Top Leader Kari Wahlroos Joins Dagcoin’ dated jan 8th, 2018, ted nuyten suffers sudden amnesia and forgets that kari wahlroos was a top recruiter of his fav scam onecoin which he promoted extensively via positive articles over the past few years.
says nuyten of kari [emphasis mine]:
awww, looks like being connected to onecoin doesn’t sell anymore! not for ted nuyten or business-for-home or kariboy!
onecoin is mentioned once in this article with a negative connotation :
ted nuyten who promoted the onecoin scam by publishing positive articles about it regularly, is now being paid by onecoin scammers to disassociate their names from the scam, so they can start their new career with the dagcoin scam on a fresh page.
well, the internet does not forget so i don’t know how ted nuyten’s lies-by-omission will work.
says the article:
and drummmrolll… with this^^ begins ted nuyten’s promotion of dagcoin, and soon we can expect articles about how the concept is soooo great that believe-it-or-not even albert and cimbala joined!
And 10 days ago Ruja’s ass-kisser Ted Nuyten wrote:
“Interview With Igor E. Alberts And Andreea Cimbala – OneLife Millionaires”
share-your-photo.com/img/5582da90bb.png
We all know: DagCoin will be the ninth wonder of the world!
So a DagCoiner wrote: “Already today, we have over 30 000 users, and our aim is to grow the network to at least one million members by the end of 2018. Wow! I freeze in awe!
share-your-photo.com/img/10487370d8.png
Before you acuse of something being a ponzi,first lets see why are really doing this.
is it because you are making enormous amount of money from it, just from spreading news witch some are but truth, but some are fake, but you don’t cate as long as you got visitors on your site.
Busted.
Simple, because DagCoin is a Ponzi scheme modeled on a Ponzi scheme by a former Ponzi investor in said Ponzi scheme.
Igor still has a one coin group picture as his “what dreams may come” cover picture on facebook.
Guess most of his network are still One Coin dreamers… Slowly moving to Dagcoin dreamers.. Blockchain.. what shit is that???
Poor poor baby’s, all becomes good with Onecoin and Dagcoin! Daguniversity is a education part of Dagcoin!
kari wahlroos is claiming dagcoin has reached 45000 affiliates from around the world.
dagcoin is supposed to launch on public exchanges in feb 2018. having a real cryptocurrency code and launching on a few exchanges means nothing, as we have seen with bitconnect which recently shut down following a cease&desist order from texas for offering unregistered securities.
however, dagcoin is being smart and avoiding the USA.
india is the second highest traffic provider to their website. kari wahlroos who very embarrassingly refers to himself as ‘The Mighty Eagle’ these days, popped in and out of delhi, india for a few hours with the venue kept secret. wonder what he’s afraid of 😉
he’s made ex-onecoin scam buddy richard carvalho his fall guy for india. carvalho is holding recruitment meetings all over india with venues announced at the last minute.
if i were him i’d be damn careful, the EOW can climb into their jeeps and be in any part of a city within a couple of hours. these guys are swift on their feet.
i’m sure carvalho and kariboy remember the onecoin arrests here and are being very careful because of that. hope their good luck in avoiding arrest continues.
kari has announced their first merchant accepting dagcoins, a new european tour company called diaxa GTE which was registered in late nov, 2017. allegedly they will accept part payment in dagcoins which doesn’t make dagcoin a currency at all, but juts a discount coupon [same modus operandi like onecoin and it’s dealshaker platform].
new year, same old scam, same old people, yawn.
Uh, I believe Ken Labine is currently making his away around the US ranting about DagCoin to anyone who’ll listen.
hmm, labine with some help from kari wahlroos is now beginning to recruit from the US.
so i guess the US will start showing up in the stats here:
dagcoin.org.hypestat.com
with the US SEC stating a strong resolve to go after cryptocurrency scams this year, it’s good that dagcoin is entering the US.
at least some regulatory action can be expected in a strict jurisdiction like the US.
one cease&desist will be enough to crash dagcoin just like usi tech and bitconnect.
best of luck labine, charge into the US with all guns blazing you unbelievable idiot.
@anjali
Oh wow! Now there’s a blast from the past! Richard Carvalho presented himself into the spotlight, last I recall, during the “Angelina Lazar Period” of Onecoin. Lol.
Carvalho was an important Onecoin connection for both India AND Dubai, as I recall. He definitely had a significant downline, but I think (IMO) he had reason (or incentive) to “go underground.”
Carvalho heavily antagonized Lazar, for what it’s worth (don’t even go there); at least during the 7 months which Lazar became an overnight cryptocurrency expert and upcoming author on virtual Money of the future, while single-handedly taking down Onecoin network, and being a special guest of Donald Trump and various dignitaries at exclusive international soirees.
…by this time, anyone following the drama had to ask themselves, “is this real life? – a la: knowyourmeme.com/memes/david-after-dentist?full=1
Carvalho showed himself as a very vile person. Whatever the story with Lazar (and that’s it’s own wild and tipsy rabbit hole adventure), this “period” in Onecoin was certainly an interesting one.
Here’s a blast from the past from back then (I was even still a bit “green” to MLM scam/scammers): youtu.be/PsIoIJtQtEw
Igor, Kari and a few other leaders have try to make a “coup” to distroy and damaging the Onelife organisation and try to invite many big leaders with diamond, blue diamond, or crow ambassador ranks to join Dagcoin scam.
But only a few people of them step over to Dagcoin. Onecoin are not a scam, and will reorgenice his leadership platform now and remove bad people that leave the business.
The true is ,many official autorities have visit Onecoin offices and doing investigate the whole business but everything whas ok.
So,the point is now, Dr.Ruja prepares for the ICO this year in Oct. 2018,…and Onecoin have a stable platform with 3.3M members, with good leadership, and a KYC that protect the coin.
It most certainly is. There is no other accurate way to describe a Ponzi scheme.
And no amount of leadership shuffling will change OneCoin’s fraudulent business model.
How embarrassing. You really should venture outside of whatever OneCoin echo-chamber it is you inhabit.
igor and andrea are now in full bloom dagcoin ponzi pimping mode, holding recruitment meetings with dagcoin CEO nils grossberg in tow.
in a video on their FB page they say they’ve bought an upmarket office in panama to cover dagcoin’s business over the americas.
they’re bribing their old downlines to join them by promising free coins. they also claim they’ve invested 50 million euros [!!] of their own money towards building dagcoin.
all they want to do is Help everyone Realize their Dreams, they’re not in this for the Money!!
^^ yeah very believable, especially when they end their little presentation with a little recitation in chorus:
‘Strength and honor, it’s all about you, success for all and you will see – what dreams may come!’
so embarrassing when career ponzi pimps try to say such^ stuff with a straight face!
a onecoin ‘diamond’ leader Duane Marc Anthony from the caribbean has also joined igor and andrea’s team in dagcoin.
dagcoin is supposed to launch officially [on external exchanges, i think ] after their annual global event in dubai from 23rd to 25th feb, 2018.
seeing how davorcoin is dying so quickly after it’s launch, it makes one wonder about the shelf life of the useless pump&dump dagcoin.
kari wahlroos claims dagcoin has recruited around 50,000 affiliates so far, will they really launch their coin publicly with such a relatively small number of affiliates or postpone again?
uh oh
Flighty Eagle kari wahlroos was supposed to be in new delhi, india on the 10/11, feb, 2018.
instead the Mighty Blubber is off in indonesia and where else!
get your ass over to delhi ASAP kariboy, we’re not having any of this last minute cancellation business you keep pulling.
what are you afraid of Scaredy Cat?
March 9 now and still no public exchange for DAG coin lol. This ponzi is DOA.
dagcoin is trying to launch on a new exchange called paygety based out of estonia.
paygety’s domain was registered in october, 2017, by a riina lutsokert who also has a real estate agency and coffee shop registered to her name [endvigo OU and coffee suumik OU].
it’s pretty obvious that dagcoin which is run by nils grossberg from estonia is setting up a shell company ‘paygety’ to act as a ‘cryptocurrency exchange’ for his private crypto dagcoin.
who knows what will happen at the backend of this paygety ‘exchange’ and whether any real crypto trading will take place? i vote – fake trades and ponzi payments!
i guess no halfway respectable exchange will touch dagcoin with a barge pole so grossberg is just building himself a pretend one.
the paygety website is pisspoor, not yet functional and has some atrocious english. totally credible looking 😉
github records the handful of developers working on dagcoin are trying to link dagcoin to paygety, but the work is not assigned to any developer yet, and they are still researching ways to integrate with paygety as of three days ago. two poor tech scams trying to integrate takes time, i suppose.
the dubai event seemed to have a rather lacklustre audience with some dagcoin recruiter guy on stage droning on and on about great ‘coming soon’ stuff.
couldn’t bear to listen in. torture would be kinder.
Dagcoin… Paygety… seriously, who comes up with these dumbass names?
The paygety “exchange” looks very fake and has none of the usual functionality of a cryptocurrency exchange.
Depositing ponzi dagcoins to trade other cryptocurrencies seems to be impossible for now. All other functions are disabled as well.
Here is Kari Wahlroos of onecoin fame explaining why his exchange doesn’t work yet because of “slight communication issues”:
youtube.com/watch?v=qEE-hJl8eA8
according to alexa, the highest traffic percentage [28.4%] to the dagcoin website is from the US.
the US is currently on fire as far as regulatory interest and action in the cryptocurrency space is concerned, with the SEC taking down several ICO’s:
hiding behind the veneer of selling education, dagcoin university cannot fool the SEC that it is not a scam ICO offering.
i think complaining to the SEC might help, so i’ll go ahead and do it.
alexa.com/siteinfo/dagcoin.org
bna.com/sec-working-dozens-n57982089945/
it takes just 5 minutes people, alert the SEC about dagcoin and get them busted!
this is the complaint portal: sec.gov/tcr
i filed a complaint:
the more complaints the better hope for action!
I think this program is nothing but a ponzi scheme from the onecoin promoters.
yeah so the technical issues continue, and the exchange is still not working yet. there are just 3/4 developers working on dagcoin on github and most issues remain unassigned, so their tech development is very slow.
the exchange is still in ‘coming soon’ mode.
meanwhile, dagcoin claims to have gotten licences to provide cryptocurrency wallets and and exchange services from estonia.
alexa shows 25% of dagcoin’s traffic is from the US. the US SEC has just announced it wants cryptocurrency exchanges to register with them.
i don’t think the SEC will permit an estonia registered exchange to provide services to US citizens.
i don’t think the dagcoin exchange [paygety or whatever] will register with the SEC.
so, at some point dagcoin will scram from the US leaving US investors in a lurch.
facebook.com/notes/successfactory/announcement/993080650846949/
reuters.com/article/us-usa-sec-crypto/u-s-regulator-urges-registration-of-cryptocurrency-exchanges-idUSKCN1GJ2PB
ding ding, dagcoin which already had a poor alexa ranking has started dipping further now.
we all know what happens when recruitment in ponzi/pyramid scams slows down – their alexa ranking starts tanking.
there’s just too much crypto scam in the air these days and i think people are wising up enough to stay away.
alexa.com/siteinfo/dagcoin.org
as things are probably not going as well as intended, richard carvalho who recruits in india on behalf of kari wahlroos, recently posted a rant on FB [april 15, 2018]:
yes people, pleeeease quit today and do something else, like flushing your money down the toilet instead of giving it to ponzi scammers.
So… Dagcoin is launching a new blockchain with 9 billion script coins. Existing investors get ten times as many coins on the new blockchain script.
Sound familiar?
May I attempt to be some voice of reason here. Of course – you can see something like a delay as ‘like OneCoin’ – although delays are not uncommon in technology at all.
As for Paygety – yes not the strongest site for sure – but getting stronger. (IE: Forward movement)
And even with GitHub – compared to four months ago when I started watching the project – things have advanced in a much quicker fashion seemingly in alignment with their launch of the new coin on May 7th. That’s actually ahead of schedule. Yet to be seen of course but let’s watch closely shall we. 🙂
Who said anything about delays making DagCoin like OneCoin?
DagCoin is a OneCoin clone because it uses newly invested funds to pay off existing investors. It was started by a former OneCoin investor and has since attracted other notable OneCoin net-winner investors.
Why?
Because OneCoin recruitment collapsed and the gravy train ran dry.
Launching new blockchains and giving everybody billions of tokens is a play out of OneCoin’s book. Whatever it takes to keep people signing up and handing over money.
Meanwhile nobody outside of the DagCoin network cares because there’s no real world application. Another trait inherited from OneCoin.
When can we expect to see DagShaker?
The question is actually…
“Is it a clone?”
OR…
“Is it what OneCoin promised but never delivered?”
Time shall tell us for certain – but it won’t be long now.
And…
Real-World application coming soon my friend. Merchants shall rejoice. That’s just my opinion of course – As I say – we all shall know for sure soon enough. 🙂
Well that facts are that nobody outside of a Ponzi scheme is interested in attaching an otherwise legitimate business to it.
I know I’m beating a dead Bulgarian horse here, but look no further than OneCoin for proof (or any other “merchants coming soon” MLM altcoin scheme).
Mate – if you’ve ever been in a bad relationship – you know you can’t bring a bad experience to your next relationship.
You do want to be wiser – and I have been very wise here. Watching them build their coin – looking for indicators – is it a OneCoin clone or is it what OneCoin promised and never delivered.
NO PONZI SCHEME – has ever announced that they will release their new coin ahead of schedule and yet Dagcoin has. That date is May 7th.
Again I have watched them build the coin and the momentum has picked up with the number of ‘commits’ by the coders. Not 100% proof but an indicator and an indicator that nobody had at OneCoin or at BitConnect or at USITech, for that matter.
There is more as well – yes including the fact that they have bought licenses for their own exchange. Not something ever done by any previous Ponzi.
Is it 100% proof. NO – just an indicator.
Buuuuuut…
May 7th shall be a big day. 🙂
Let’s continue this conversation then (especially – if it is delayed) 🙂
Um, Ponzi schemes aren’t personal relationships. Nice strawman though.
That’s because most MLM crypto Ponzi schemes don’t have the most gullible investors in the world.
One scam and they’re done. None of this “hay guys here’s a new blockchain now give us more money” bs.
You seem to have difficulty differentiating the Ponzi points OneCoin model with crypto Ponzi schemes.
One is a niche within the other. They aren’t necessarily the same model.
Every MLM crypto scam has an internal exchange (in OneCoin it was xCoinx). How else do the top investors steal your money?
Here’s an indicator:
DagCoin is a Ponzi scheme modeled on the collapsed OneCoin Ponzi scheme. It’s run by a former OneCoin promoter and is pretty much OneCoin 2.0.
DagCoin literally uses new investment to pay existing investors.
You can’t legitimize Ponzi fraud with “indicators”.
I disagree mate but rather than debate with you back and forth – as you state your opinion as fact and seemingly even the opinion of others as fact – (that’s opinion not an indicator – there is a difference)
I’m okay with you feeling you’re correct though – and letting time reveal the real truth here. May 7th isn’t far away. 🙂
Whether you disagree using newly invested funds to pay off existing investors is Ponzi fraud is irrelevant.
Facts are facts.
Sorry Oz – but in order for a Ponzi to be real – wherein – newly invested funds pay off existing investors – the fundamental piece that makes that a truth is that there isn’t an actual product or offering with real value and as mentioned many times, and you seem to completely disregard the truth of this – on May 7th – there shall be a very real and useable coin released.
This means that any one person buying a coin is actually buying a real and useable ‘thing’ and so not simply a wash of money wherein new investors are paying existing investors.
Your definition is just not holding up I’m afraid.
INDEED – FACTS ARE FACTS – ON THIS WE CAN AGREE.
^^^ Who told you that? Your upline? ROTFL
I suggest you read The Ponzi Playbook Chapter 3: The Intelligent Egoist – and how to take his money.
I must admit, the type of posting CryptoForWealth provides, along with many long gone others, does provide me the most entertainment when perusing the comments section.
Be sure and come back now, ya hear.
From a human dynamics perspective what is tragic (not entertaining at all) is to watch the negative paradigms of those like yourself who choose to adopt ‘the ponzi mindset.’
I am an independent thinking human being. My upline doesn’t sway my opinion at all. Such a comment only reveals the limited paradigm from which you exist. (not that you could see that)
I’m saddened that you find entertainment in those that lean towards a positive outlook to life and that you would allow yourself to exist from ‘the ponzi mindset’ – but alas – such is life.
Imagine this…
What if you’re right and I’m completely brainwashed. You somehow get entertainment from this. You would get entertainment from me being so misguided and wasting so much of my precious life, energy and resources?
THAT is TRAGIC. (not entertaining at all)
I’m POSITIVE that this yokel is WAY 2 stupid to play the ponzi game.
@CfW, how can you feel so comfortable in blindly dismissing the established track records of the people who founded Dag and the primary upline “leaders”?
I mean these are people who earn a living by jumping into what turn out to be a blatant scams, who not only spoke endless superlatives about those scams but also deflected, denied and flat out lied about legitimate criticism about their scams, yet as soon as the scams manifest malfeasance made recruiting fresh victims (and earning commissions for doing so) becomes too difficult, they jump into the next scam.
Rinse, lather and repeat, again and again.
So after years of promising the moon, saying “this time for sure” and hyping the crap out of scams about to be flushed we have DagCoin.
The “leaders” are promising the moon. They’re saying “this time for sure and they’re hyping the crap out of DagCoin.
Please, in your own words tell us why the very well established pattern is not going to repeat.
Tell us why DagCoin is any less flushable than any of the many scams, promoted by the same crew, that have gone down the drain already.
but what is hilarious is that you think a mythical klepto, er cryptocoin actually exists.
The entertaining part is you suggesting that Oz, who has written thousands of articles over many years, doesn’t know what he is talking about – and you do.
Also adding, that you think “a positive outlook” somehow makes up for committing Ponzi fraud. Or that, you completely disregard the fact that DagCoin is run by a former OneCoin Ponzi pimp and you seemingly trust him over Oz. That’s funny, no?
Tip: Con men would not be successful without convincing others their scams were legit. Think about it. They have played you and for that I’m sorry – for you.
The paradox you present as, intelligent and ignorant, intrigues me. Don’t worry. You are not alone. Many of your types have come here over the years. It’s just another day, and another lost dollar to Ponzi fraud in the land of OZ.
Want to know what is tragic? That you think this is a legit business while the pimps are laughing at you all the way to their offshore bank because you are “giving” them your money. THAT is TRAGIC!
False.
The sole determining factor of a Ponzi scheme is the use of newly invested funds to pay off existing investors.
And don’t bother trying to post marketing spam here. You don’t get to ignore the fact DagCoin is a Ponzi scheme and push irrelevant marketing.
Let’s discuss a moment about Paygety (i.e. what you called forward movement):
In April Paygety started providing trading for DAG to bitcoins. The price was the SAME 1€ / DAG the investors have paid for their DAGs (converted to BTC in current bitcoin price). Day after day after day the site had “today’s limit has been exhausted” – signs on it so trading was not possible.
Then on 30th of April the limits were removed.
INSTANTLY the price dropped – first to 0.67€ / DAG. Then to 0.50€ Then to 0.35€. 0.20€.
The bottom was somewhere around 0.17€ / DAG.
Slight recovery to 0.20€ / DAG has happened, apparently the pain limit for selling is 1/5th of what the investors paid when they bought their coins.
It’ll be a good idea to watch Paygety after the new coin is introduced (very soon) and the ’10X split’ happens.
The price will drop to $0.10 simply because there is more coins in circulation – but then will begin to rise. this reduction on Paygety is in anticipation of this ‘split’ and automated price reduction.
The real test will be how fast does Dagcoin run from $0.10 back up to $1.00 EURO and beyond.
You must be joking. Then again looking at the website linked in you name I fear you might be serious.
BTW, after a 20 second perusal of your page let me just tell you that both USI Tech and BitConnect had their own coins, more than one for USI in fact.
Your attention to detail and lack of inhibition to ignore any effort in fact checking are well suited and quite befitting of a DagCoin pimp.
But to your question, DagCoin will never return to 1 Euro each without serious manipulation or divine intervention.
Does anyone know who the patron saint of alt coin scams is? I’d say either pray to them or, you know, Mammon.
One of us is incorrect that is for sure. 🙂
No patron saint required. 🙂
Let’s watch closely shall we…
Pimp leaves the room. 🙂 🙂
Ummm… Nope. The drop on price happened as the very next thing to free trading, not as a very next thing to announced new “chain”.
But let’s – for the sake of argument – assume you are right about that one. (Because it really does not matter in the end.) Why would the price get an increase?
With the new chain two things have changed:
1) There are 9 times as many coins available for new investors as before.
2) Old members have 10 times the coins with 1/9th of the price per coin.
Due to the case 1), the availability of the coin for new investors is better, so the scarcity of the coin cannot cause an increase of the price. Quite the opposite – if there ever was a pressure for the price increase due to looming end of the supply, it is now gone – 9-fold. If anything, there is oversupply of the coins which will decrease the price even further.
Due to case 2) an existing member that had bought 100 DAG for 100 euros can now sell them for 0.10 euro/DAG instead of the “official” 0.11 euro price and still get the same money he/she would have got by selling the coins for 1 euro/DAG before the 10-fold increase. This automatically will readjust the price down to 0.10 euro/DAG from the expected 0.11 euro/DAG.
Both of the changes only participate to price DECREASE, not price increase.
But hey, enjoy your coins. Don’t hold your breath while you wait for the price to increase back to 1.00 euro/DAG.
3 Reasons:
1) As with any coin – more people see it as appealing when the price is low. (stocks use this ‘split strategy’ all the time. IE: A stock price per share get’s to high so they use a stock split to decrease the price per share – people see it as more affordable and buy.
2) Listing on Swipex (and seeing the number of active members on Swipex rising)
3) Announcement of legit merchants actually using the coin.
You will doubt that any of this will actualise.
I understand the doubt but “I see indicators” – that it’s real.
We’ll know soon enough. 🙂 🙂
and again whit the merchants….. why oh why does the ponzitoken collecters always refer to the merchants. merchants actually devolve the value of “intermediate” not increase it.
i guess anyone one person whit even a poor-great understanding of microeconomics stays as far a fuck away from ponzitokencollecters.
sad to say that its harder to trick my 1,5 year old that my thumb has disappeared then to trick a ponzitoken collector that “THE MERCHANTS ARE COMMIN, THE MERCHANTS ARE COMMING….” and that would be somthing positive….
@BeyondBitcoin, on your site you seem to go into details about trying to convince the viewer that Dagcoin is legit.
I somehow didn’t see a section where it shows the SEC registration.
Is that info somewhere on your write up?
I see the same bullshit trotted out with OneCoin.
1) “Invest now before the price goes up!”
2) we’ll totally go public with the coin when we’ve flogged x% of our reserve in
2015,2016,2017, October, 2018.3) ONE MILLION MERCHANTS! ONE MILLION MERCHANTS! CHANT IT DAMN YOU, ONE MILLION MERCHANTS!
You can’t “indicator” your way to legitimacy when the core of your business model is stealing from investors who sign up and invest after you.
I fully fully understand OZ and you have every right to be skeptical. This is why I say…
– Is it a OneCoin Clone?
OR…
– Is it what OneCoin promised and never delivered on?
I am watching them build this coin on GitHub (EVERYDAY)
They are saying they will release the new coin this week – and what is happening on GitHub is consistent with that. This is one of the things that is so much different with Dagcoin. You don’t have to take their word for it. The code is Open Source and so we can ‘watch them’ actually build the coin.
We are literally days (maybe even hours) away from knowing for certain….
— Is it a repeat OneCoin scam?
OR…
— Is it what OneCoin promised and failed to deliver?
We shall know sooooooooon!!!
Yep. You invest and the same guys who stole your money in OneCoin steal your invested funds when they withdraw their DagCoin points.
DagCoin launched nearly a year ago. What you’re seeing is smoke and mirrors.
On the money side of things the same OneCoin scammers are still withdrawing your money.
Whether they exit-scam with some script generated altcoin in the end doesn’t matter. While it’s running as an MLM company DagCoin has the same core OneCoi Ponzi investment mechanic driving the business model.
I did NOT join OneCoin as I saw scam indicators. Dagcoin is different although I had to look real close to see it.
Yes – things have taken time – but ‘real stuff’ is showing up, so it’s not smoke and mirrors it’s frkn delayed – which is not unusual in the tech space.
OneCoin was owned by Dr. Ruja Ignatova
Dagcoin is owned by Nils Grossberg – who was with OneCoin for a few months, realised it wasn’t real and decided to deliver what was promised. YES – that did attract OneCoin leaders – which would be natural.
So it is NOT the same people – taking anyone’s money much-less mine.
But I ‘get’ you don’t like the model – but that doesn’t mean it’s not legit and the biggest factor in that is a real coin. Time is ticking on validating that or not. 🙂
What I like and don’t like is neither here nor there.
Soliciting investment through an unregistered securities offering and using that investment to pay existing investors a ROI is Ponzi fraud.
This is a fraudulent business model irrespective of whether DagCoin exit-scams with an altcoin at some point.
I guess you stopped looking close enough to see more of the “indicators”
When this flops like ONECOIN will you show up here to say how wrong you were?
What did we learn today?
More promises more delays – keep the faith I suppose.
We won’t have to ‘keep the faith’ for long Terence. We shall know one way or the other soon enough. And yes I’ll be happy to come back with my tail between my legs should Dagcoin Flop.
I realise I’m committing here and I’ll be the first one to admit the error should it be revealed to be such. Easy.
I’ll be keeping you to your word regarding that tail between your legs. Rodrigo, was it?
@BeyondBitcoin – Best of luck, but aside from selling Securities, we’ve never seen a single MLM coin which hasn’t either crashed immediately when put in an open market, or collapsed entirely.
Part of this is due to the following, in my observation (and some specific to this case, exactly):
1.) It’s a “Club Coin” for a club that club members primarily invested in for the purpose of ROI, exclusively. What appeal does this have to outside investors?
2.) There are already much more mature DAG coins using Directed Acyclic Graph technology with robust and accomplished teams of well known engineers and computer scientists. Several, in fact. IOTA being a potentialy superior technologic solution with exactly zero fees. Yep. ZERO FEES.
3.) “The Law of Pump & Dump” in a binary, recruitment-based crypto brings an exponentially worse and already lambasted issue to the “Token Economics” side of the coin. Similar to the MLM recruitment side, I’d assume early investors (maybe 1-3%) control an inordinate percentage of the circulating pot.
The result is typically collusion and buy/ sell market manipulation (with FUD dumps and FOMO pumps, enriching top bag holders by dangling the carrot for invested club members to sell off on dips and buy back in on highs). In an open market MLM coins rarely exceed a few dead cat bounces before everyone gets spooked and throws in the towel.
4.) The stigma of Onecoin association of top affiliates/ owner will prohibit it from ever entering a reputable Exchange (and anyone knowledgeable of crypto will avoid like the plague, anyway).
The elephant in the room is this: Is it even possible to ‘MLM money?’
We sure haven’t seen it yet, and I can’t envision any scenario for which it will work. 99% have always lost money (and always will).
You guys will just continue to greet the idea with your own paradigms (and I shall do the same)
The bad news for you guys is that I watched this very similar thing happen with MLM in nutrition 30 years ago.
Companies were shut down. There was compliance issues (medical claims vs. investment claims). etc. etc. etc.
BUT…
Then a few companies started getting it right and changed millions of people’s lives.
Cryptocurrency itself is young and yes Crypto in MLM even younger – but someone will get it right and when that happens Millions more lives will be changed forever.
It will happen – it’s just a matter of which company and when.
We shall see if it is Dagcoin or not VERY SOON.
🙂 🙂 🙂
What the fuck are you talking about?
Nutritional companies 30 years ago have nothing in common with MLM cryptocurrency Ponzi schemes today.
If you can’t explain how using newly invested funds to pay existing DagCoin investors isn’t Ponzi fraud, we’re done here.
Yeah, like:
– having sole ownership to the full supply of the coins (effectively rendering the coin value to $0 for the company itself).
– selling education and handing coins away for free in the process (no problem as they have all the coins in the world).
– recruiting new investors with the same people who had no problem whatsoever to scam people with OneCoin. (And it is YES the same people, BTW.)
– Handing bonus coins (10% for a limited time etc.) for no benefit whatsoever for the company or the coin. (Because in a real world it would eat the value of the coin. In DagLand it does not.)
– Having a coin value that can only be preserved in an “internal” exchange.
– growth forecasts based on promises like “when there will be a listing on Swipex”, “when there will be an announcement of legit merchants”, (when, when, when…)
– Promising but not delivering.
Besides, it does not matter a bit whether the “coin” can be used in a way or another (see OneCoin and DealShaker). If you promise profits to people and pay them for subsequent investor money, it is a Ponzi fraud.
Charles Ponzi said he had legitimate stamp selling business fueling the money flow.
Dagcoin says they have legitimate virtual currency.
Irrelevant to the total picture.
What is really important, describes BeyondBitcoin in very small font at the bottom of his website:
So he does not take responsibility for his scribblings!
What is really important, describes BeyondBitcoin in very small font at the bottom of his website:
So he does not take responsibility for his scribblings!
These days it’s quite easy to spot the new Ponzi scams, just look at the names of the people on the top involved.
Guys like Kari, Igor, Kent,Ken, Nils, Iulian and the list goes on and on are serial scammers jumping from Onecoin to another fake coin.
Dagcoin now and they keep doing what they do best once they’ve tasted the easy money, that is stealing money from idiots, easy believers, desperate people or greedy bastards like themselves.
Maybe we should one day come up with a blacklist of serical scammers, people that were involved in at least 2 Ponzi scams and put it out there for people to find.
As you know, you’re involved once you could be a victim (not when you made a lot of money of course, like poor Igor and his wife) but when you are in twice, you know what you are doing and you are a scammer pure simple easy.
Everybody here on this conversation can easy provide 10 names I guess to put on that list.
DagCoin increased the coins 10-fold and said the price (1€ / DAG) would be dropped to 0.11€ / DAG in process.
Currently the internal exchange sees sales at 0.06€ / DAG and the “external” exchange (the one that apparently was founded by DagCoin but is said to be external service) is “closed for maintenance”.
Anyone want to buy an “educational package” where coins will cost you 0.11€ a piece, knowing that you can’t sell them for more than 0.06€ / DAG?
If the “external” exchange opens, anyone can buy DAGs from there, probably for the same 0.06€ / DAG or less.
I have no clue how they keep this ponzi running when there aren’t even returns visible.
Before they trashed the old blockchain (to replace it with a private one? I mean, where is the viewer/explorer for the new one?), the rate was already dropping to below 0.40 euro / dagcoin.
Then they fixed the rate at .11 / dagcoin, but obviously they can not maintain that rate for very long as they are giving away commissions and interest all over the place.
Tbh the .06 seems rather high to me as they promise 5% ROI / month on your balance and on top of that give excessive commissions to everyone in the pyramid.
I’d expect the rate to drop way below 0.01 EUR / DAG very soon in order to provide everyone with the free tokens.
Well Dagcoin.org says this is the explorer:
NOLINK://explorer.dagcoin.link
But it looks 1:1 the same as the old one so no way to tell if it connects to actual transaction data.
You need to put https:// in front of the link for it to work, it seems.
Yes and your math may not be accurate either.
Please consider that when a miner mines Bitcoin – there is a cost to the mining and the difference between the cost of the mining and the current market value is… MARGIN.
In other words whoever creates the coin is essentially the manufacturer – and with DAG technology – there is no mining = low manufacturing costs and significant margin to afford
commissions.
And consider the cost of issuing bonus coins to them (the manufacturer) IE: They aren’t paying market value for those bonus coins – they have a large margin.
= Money to pay commissions is NOT coming from the previous buyers = NOT a Ponzi.
More coming soon. 🙂
DagCoin generating worthless Ponzi points at whim isn’t creating “money to pay commissions”.
DagCoin’s internal value is the same OneCoin house of cards. If they ever ditch it for an altcoin script and go public, only then will you realize the true value of your points.
Until then all you’re doing is cashing out newly invested funds until DagCoin pulls the plug. OneCoin 2.0.
EXACTLY… Thus the anticipation of SWIPEX. 🙂
You can’t “marketing hype” a Ponzi scheme into legitimacy.
Sad how cryptocurrency turns people’s brains off scam models that have been around for years.
You can’t use “Ponzi Claims” to denounce a real coin.
(Ozedit: Snip, there is no real coin.)
Non publicly traded points wholly controlled and manipulated by Ponzi scammers != “a real coin”.
I appreciate you’ve swallowed the marketing bullshit but facts are facts.
On this we can agree – Facts are for sure Facts!! 🙂 🙂 🙂
The technology behind Dagcoin seems to be valid. That is: there is no simulation or fabrication of coins.
And so was the case with BitConnect. Open exchange of the BitConnect coin brought the price down from $400 PonziCoin to $1 altcoin. Too bad for anyone who “invested” into the Ponzi scheme for a price of $1 to $400 per coin.
Having a valid technology does not “un-Ponzi” a scheme that pays returns from later invested funds.
Having a “real coin” just means they actually copied an existing coin’s setup.
Many different coins are based on Bitcoin, Ethereum, or other blockchain setup, albeit modified. It may be “real” in the sense that it has blockchain, it can be mined by the public, and it can even be exchanged on some exchanges, but that just means it’s a fringe altcoin, little else.
And anyone can start one. It takes a whole team of experts and developers solving a real need to make a coin successful.
Otto, I don’t agree fully on you that the technology behind Dagcoin seems valid. I mean, yes, they do have a blockchain but they just toss it out of the window to replace it with an entire new one if they damn well please to do so.
A valid cryptocurrency would never do so. If a valid crypto wants to change the way their blockchain works, they do a hard fork.
As you might know a blockchain is essentially a ledger. Tossing out your ledger to replace it with a blank one is really convienient if you want to launder money or do other fraudulent activity.
Dagcoin tossing out their blockchain when they aren’t even on any public exchange in order to increase their supply from 1 billion to 9 billion is just a presage that they repeat this in the future. This is a mayor red flag, on top of all the red flags listed in Oz’ article.
And CryptoForWealth, would you please just take a few crypto for dummies lessons? You’re not making any sense at all.
I think what Otto was getting at is whereas OneCoin had a very MYSQL vibe to it, there’s at least a cryptocurrency script behind Dagcoin – which is verifiable tech.
I don’t know if they’re still doing it but when the OneCoin top scammers jumped ship, the general pitch was, “Look, we have blockchain!” Igor Alberts in particular made a big deal about this.
In order to dismantle the tech argument you have to point out that even with legitimate blockchain tech, using newly invested funds to pay off existing investors through internal points is still Ponzi fraud.
Even if those points are powered by a blockchain.
As long as the points are private (not a real cryptocurrency), Dagcoin can restart the script and allocate generated points as many times as they want.
BitConnect was brought up as an example of this model going public, seeing as they have an actual blockchain and all.
Same old “collect ROI from an internal exchange” Ponzi model underneath it though. And that lead to $2.4 billion in monopoly money losses when BitConnect’s admins turned off the internal exchange.
People only invest and believe in the made up internal value if they can withdraw the points (steal money from people who invested after them). Once that’s turned off, nobody cares and the actual value is revealed (50 cents to $1 in the case of BitConnect).
This is the only reason OneCoin/Dagcoin aren’t publicly tradeable.
Sadly you’ll have a hard time getting any MLM Ponzi points investor to acknowledge this. Their internal points use a unique snowflake altcoin that can’t fail… until it inevitably does.
A blockchain has to be decentralized in order to qualify for being a blockchain. The Dagcoin chain is centralized, with Dagcoin itself being the sole owner, even having the power to discard the blockchain entirely.
This makes is no different than the mysql database that Onecoin used. It just looks more real, but it really isn’t.
That’s why you’ll see me nuking any reference to dagcoin being a cryptocurrency above.
The dagcoin blockchain meanwhile is still a blockchain, it’s just being run on one or more centrally controlled servers.
blockchain != cryptocurrency.
If I’m wrong on that front I’d like to hear an explanation. My interaction with cryptocurrency extends only as far as the never-ending parade of scams the MLM underbelly come up with.
You’re perfectly right about that, Oz.
I do have got a lot of experience with real crypto’s, having a retired minig rig in my basement and a portfolio with lots of altcoins. But that’s another topic 😉
I am really surprised that the dude from the Gerlach Report hasn’t picked up the battle against Dagcoin yet, as the biggest scammers of Onecoin are inside this one now;
He actually seem to have disappeared completely as it’s already one month since his site has gotten a new cover story.
I hope he didn’t disappear like Ruja did.
Although they had some interesting cover stories, I don’t think the Gerlach Report was doing the MLM reporting niche any favors on the credibility front.
Thanks, Oz. This was my point.
The official Dagcoin website, Dagcoin.org, appears to be offline since yesterday. It displays a 502 error.
Also Paygety is not paying out if we were to believe dagcoin.pro affiliate website.
Did Dagcoin do a runner with the investors money?
Hopefully the scam ends soon before more people lose their money, but on Kari’s facebook page there is an explanation:
Well still today no matter what device you try to get on the website, it gives an error now 1006.
Saying that the owner of the website has banned your IP address. 🙂 🙂 🙂 what a joke.
@Scambuster789 – friend sent me this site, which shows that the site seems to be offline for 3 days now: isitdownrightnow.com/dagcoin.org.html
kari says this on his fb:
The website is back online in the meantime. Frontpage quote = Dagcoin the most usable cryptocurrency in the world.
I am just wondering isn’t there any official instance or controlling entity that investigates and acts on false claims like this?
In some countries when you even put butter on a pack of margarine to upgrade the sale and cheat marketing wise on consumers you have a dog on your tail to correct of give you a fine.
Hasn’t the Cap market any means to react or act on this on any other watchdog?
Pay attention. It says:
“The most usable cryptocurrency in the universe“
(Which in a TV ad would be a clear “nonono” because you don’t have any study or source to prove that.)
@Scambuster789
Problem is government around the world have decided anything to do with cryptocurrency = we’re not regulating it.
Once enough people lose money that’ll change, but unfortunately outside of the US nothing much is happening.
Dagcoin scammers are now pushing Sapphire Coin. You can exchange your Dagcoins for Sapphire Coins. exchange.sapphirecoin.pro/
1 SPH = 9.60 DAG
Seeing as SapphireCoin is just as not publicly tradeable as DagCoin, all they’re doing is reducing ROI amounts?
they are flocking in the caribbean and africa taking the monies of poor uneducated people. they make us believe that if we dont take the offer we are small minded and thats y we never get rich.
people take out their life savings and fixed deposits to fund this scam. when you buy a package you are harrassed to introduce more people in order for you to get commisions.
they dont care if you want to be passive. they make you feel so lazy and incompetent for not bringing in as many people as you can.
lots of profits will be made, but the poor people wont see any of it. i am so sorry for these people.
i wish someone who is very social would operate social media and other platforms to reach all these people to educate them on how they are being fooled cause all they are exposed to is dagcoin.com and their facebook pages.
They need to see more of this info somewhere. i am searching and theres very little dagcoin info anywhere. sad.
Is not only de uneducated peoples dey are taking advantage of.
In fact those peoples who claim dat they know much about network marketing are all being screwed to this scam n these peoples are trying everything possible to bring more peoples on board using their marketing skills.
On their dagcoin presentation forms they have formulated a huge ROI on their investment packages promising over 1000% returns after de eight month period. Totally an absurd increments yet peoples hv invested n are encouraging their colleagues to join as well just for a referral bonus.
Very sad though……………
Well there are now basically four different “prices” for DAGs:
1. If you buy an – ahem – “educational package”, you get DAGs for 0.11 EUR/DAG. This is “the official price”.
2. If you buy or sell in the internal exchange (fueled by the commission percentages that are mandatory to use for buying DAGs), the price has been moving between 0.04 EUR/DAG and 0.07 EUR/DAG.
3. If you go to Paygety “external exchange”, you can see the price is the official 0.11 EUR/DAG but the site has been “under maintenance” since 9th of May (almost for 7 weeks) so selling/buying with that price is impossible. Before maintenance the price plummeted the moment the trading started.
4. If you go to Swipex “external exchange”, you can see that many people would like to sell, even for such a low price as 0.04 EUR/DAG.
Unfortunately only few want to buy… The highest bid so far being 0.0235 EUR/DAG. There is no visible data in the site about past trading (how many DAGs sold, for which price, etc.) so one can only assume that the supply and demand do not meet.
And what does Ken Labine say? Nothing! 😀
NOLINK://www.facebook.com/KenLabine
But he still has a second Facebook account – without any content! Everything deleted – since 2008! 😀
NOLINK://www.facebook.com/ken.labine.39
Melanie, Ken has probably blocked you. His FB works fine. He just posted 12 minutes ago.
Yes, gibberish “Success Factory” vids from Panama with the Walroos clown. His FB posts rarely hit even double figure likes since Onecoin.
@WhistleBlowerFin
Blocked? Why? Does he not love me anymore? That makes me sad – and deeply depressed… 🙁 But here I have found something else:
NOLINK://share-your-photo.com/78a71d1182
I’ll add that to make it complete: “Do not forget to learn from the best scammers…”
In Germany, we have a fitting saying: “Who cares about my gossip of yesterday …”
Dagcoin has crashed on their internal private Swipex exchange.
Price has hit 0,01 EUR/DAG two weeks ago. They don’t calculate any more specific than cents, which is weird for a legal crypto but not so weird for a scamcoin.
Quite possible the actual value was somewhere around 0,000001 EUR/DAG.
The Dagcoin masterminds of Swipex have found a genius solution to this crash. They’re now decling all sell/purchase orders below 0,11 EUR.
The coin can’t crash if you cant sell it for the actual value and if you’re forced to always buy overpriced. GENIUS.
At least with OneCoin you could sell at their made up price until Ruja decided she didn’t want to lose any more money.
DagCoin have what, come up with a made-up price and then added an additional limitation on that?
This is why these scam coins will never go public. They can’t survive without constant manipulation.
The big difference between the DagCoin and OneCoin is that Dag seems to actually have a legitimate coin behind it. You could – if you would want to – create a dag wallet and accept Dags from someone.
This never was possible with OneCoin, you first needed a “membership” and then the transfers were limited to be done between upline and downline and in limited quantities only.
Of course the whole setup is retarded: DagCoin has had all 9 000 000 000 DAGs pre-mined in their possession. After the coins they have – ahem – “given as a bonus along education”, they still have more than all the members combined, multiplied.
DagCoin the company can sell as many of those as they wish, when they wish (assuming there would be a day when there were buyers). Therefore they could crash the coin value at will (if there was some value to crash).
I still would like to know several things about the DagCoin technology though:
– are there some special nodes that hold the copies of DagChain or does every mobile application hold a full copy?
– there are supposed to be transaction fees, to whom are those paid to? The one that happens to make next transaction? Have the members seen these payments having been paid to them?
– what happened to the coins of those members who decided not to trust to the goodwill of the DagCoin company and did not move their coins to the new chain?
Same Ponzi points model, different stages of implementation.
– are there some special nodes that hold the copies of DagChain or does every mobile application hold a full copy?
No, there is only 1 copy. It is being held by Dagcoin itself. This explains how they tossed the old one away and slapped a new one in place some time ago.
– there are supposed to be transaction fees, to whom are those paid to? The one that happens to make next transaction? Have the members seen these payments having been paid to them?
The fees are next to nothing, with Dagcoin being worth shit and fees only being 0,00something dagcoin. Fees are kept by Dagcoin itself, being the sole entity holding the dagchain.
– what happened to the coins of those members who decided not to trust to the goodwill of the DagCoin company and did not move their coins to the new chain?
They are shit out of luck and lost (or will lose their) money.
Ponzi 101: make it extra difficult for members to get their money back by throwing obstacles at them.
Having need to MANUALLY swap your coins from one blockchain to another is an excellent tactic to shake off sleeping/lazy members and thus having more money to pay out other ponzi members.
Dagcoin platfrom changed its names to success factory in 2018 March.
Founder is Nils. He takes SCAM action to collect cash into his personal wallet.
I think it’s right time to get investors together and collect the SCAM evidence. Then escalate to Financial Conduct Authority, FCA.
After the back office web site changed to successfactory.com/en/member
There have been no BITCOIN payment over 2 month. And Nils just mentioned that it is IT issue.
Actually, Nils stole cash and let platform to be without cash to pay investors.
Today, like days before, we received emails, but now from top leaders of DAGCOIN too (successfactory).
Their funds (dagcoins, btc, money, bonuses) and accounts have been blocked and also inside transfers to other users/accounts are closed in succsessfactor and SwipeX.
As you all know, SwipeX is owned Gilbert Pardla and Nils Grossberg. You already know Nils from past. So We will introduce Gilbert Pardla a little.
We will start the domain swipex.com. Swipex.com domain owner and other contantct information is classified and hidden from public. So why is it hidden?
They want users/clients send information and questions to official support email.
So how we know that this domain really belongs to SwipeX LTD (estonia OÜ). The website says that the domain belongs to SwipeX, but this proof cannot be verified.
Board member of SwipeX LTD Gilbert Pardla has started his career in several recruitment and MLM projects. He have been in media orbit in Estonia (we add the link text in Estonian language).
Gilbert Pardla’s name is there for companies that lacked a Financial License.
The Financial Supervision Authority of Estonia (fi.ee/?lang=en) warned officially that abusive people were illegally taking action. aripaev.ee/uudised/2017/04/18/finantsinspektsioon-hoiatab-investoreid.
Let’s get the tip of this scheme, and we want to show you what it really is. So now you have littlebit information about SwipeX LTD and board member G. Pardla.
Before deposit your cryptocurrency or fiat money to SwipeX think a little and research more inforamation about Dagcoin, SwipeX, Gilbert Pardla and Nils Grossberg.
If you have any problems with accounts, finance, bonuses and trading, give us know or write comment here below.
Dagcoin.PRO News Department
dagcoin.pro/breaking-news/extra-hot-information-swipex-money-problems/
“Igor Alberts & Andreea Cimbala Achieve $825,000 Per Month With Dagcoin”
Latest headline on everyone’s favorite pro MLM Ponzi blog.
Interesting tidbit on DagCoin price for an investor – I mean “an affiliate that wants to get educated”:
Originally the coins were available 100 DAGs for 100 EUR “educational package”. Hence the original “educatees” have bought the coins for 1 EUR / DAG.
The number of coins was increased 9-fold recently and at the process price was cut to 1/9 – equaling 0.11 EUR / DAG).
The coins already owned by investors were multiplied by 10, meaning that those DAGs bought for 100 euros were now supposed to be 110 euros worth.
Ever since there has been all kinds of new campaigns to sell more education. With the current prices the DAGs can be obtained along education package for 0.08 EUR / DAG or – in case of most expensive package – for 0.02 EUR / DAG.
With these prices the amount of DAGs that match to that 100 EUR “investment” from the early days can be bought for 80 EUR (or for 20 EUR at cheapest).
That’s a 20% to 80% price cut. Wow.
With the prices in use at the internal exchange those DAGs could be sold for 40 EUR.
With the prices in use at “Dagcoin-founded external exchanges” (LOL), those coins could be sold for 30 EUR to 60 EUR.
All this assuming there is someone buying, the 24h volumes are about 1 BTC, not sounding like there was a huge demand for worthless Ponzi-coins.
In addition to that it is unknown whether the profits gained could actually be cashed out – withdrawal from the internal exchange (and also from the “external” exchanges seems to need a KYC identification very similar to what OneCoin had.
I have to assume that the weekly ROIs (which are also paid in worthless DAGcoins) manage to make up the price difference between buying education and selling DAGs. I would be quite upset if my “investment” would have lost 40% to 70% of its value.
Recently DagCoin made a change to their internal exchange that prevented coin sell/buy orders for any other price than pre-set limits.
Prior to that change coins were sold approximately for 0.04 EUR / DAG.
Ever since the limits have been increased – few weeks back the EUR / DAG limits were 0.10 and 0.12 (low and high), today the limits are 0.13 and 0.15, respectively.
Naturally the price for which the trading takes place in internal exchange is constantly rising as a result.
And what, nobody has raised objections to a completely artificial pump?
Or are they all furiously masturbating over their made-up internal shitcoin value ala OneCoin?
My my… This is an embarrassment:
DagCoin tangle explorer shows that majority of the 9 billion DAGcoins from initial node have been eventually moved to this address:
NOLINK://explorer.dagcoin.link/#7HR6DJAXWWAJJHNJRE4Q56RP3PC35LYQ
Stored in this address are 8 939 999 898.998116 DAGcoins as of today (November 9th 2018).
8.94 billion DAGs in that address.
That leaves 60 million DAGs to DagCoin affiliates.
There are over 80 million DAGcoins for sale in the internal exchange as we speak.
Apparently DagCoin has already given to the members over 133% of the coins they have recorded in their “Dagchain”. This results to few facts that simply cannot be denied no matter the will to do so:
1. The “Dagchain” is not used for handling the DagCoins of the investors.
2. As an unavoidable result of the bullet “1.”: the balances of the DagCoin members are stored in some other kind of database than the “Dagchain” DAG tangle.
3. Ergo: the DagCoin is not a cryptocurrency at all, it’s just a database of account balances of the members.
We can now see that the DagCoin company does not have anything to do with cryptocurrency, they just take money from people and add interest to their account balances.
This mode of operation may be familiar to people here, it’s called “bank”.
(If you invested to DagCoin you may need to Google up this “bank” thing, apparently you were not familiar with it.)
Few exceptions towards traditional banks exist, though. E.g. the traditional banks do not multiply the savings of their clients by an order of magnitude for no obvious benefit.
Also the traditional banks do not intentionally prevent clients from withdrawing the money. And the traditional banks are especially forbidden from paying the interests from the savings of other clients.
But you know – Ponzi Pyramid’s don’t follow regulations very well.
^ Replace NOLINK with https, then the link works.
https://explorer.dagcoin.link/#7HR6DJAXWWAJJHNJRE4Q56RP3PC35LYQ
Also:
The high amount of coins in one address could be explained with the fact that the investors do not see their coins in their DagWallet until they move coins from back office to wallet.
So it could be that so far only 60 million coins have been moved to wallets of the members and rest is just numbers in the web page that will be lost forever if the web page is shut down.
(As would be the Dagchain, because there is only one copy of it and that is held by DagCoin Ltd.)
I have a few (very few) that I am trying to sell on their internal exchange. Amazingly, every 7 days they cancel my sell order and return them to my wallet.
I can never get to be next in line if someone is buying. Also, they stop any sellers from selling below their set minimum of 0.13 euro’s.
Essentially this means that no one can ever really sell because these criminals can just sell new uncirculated coins from their endless supply and no one can ever know.
In my case I have lost in the hundreds of dollars and it’s not the end of the world for me, but for many poor people they may have borrowed in an attempt to escape poverty.
Nils Grossberg and the other filth are making profit from misery.
No wonder people give a knowing look when Estonia is mentioned. The name of Estonia is permanently tarnished by low life scum such as Grossberg.
@Slippin
Success Factory FAQ in backoffice actually tries to explain this 7 day limit. The logic (or lack of it) is:
NOLINK://https://office.successfactory.com/en/member/faq/questions
But you are right – since coins within the Success Factory system are not recorded anywhere, Nils is not tied by the maximum amount of 9 billion while selling them. Actually he could sell 10 billion, 11 billion or 90 billion coins to the investors and nobody would know. At least not unless people would try to transfer their coins to their wallets and more than 9 billion coins would be needed to be recorded to the DagChain.
Such a mass of transfers will never happen because coins can only be sold in Success Factory and coins moved from Success Factory to a DagWallet can no longer be moved back to the Success Factory.
Dagcoin news at the backoffice (6th of March 2019):
Oooooh! The price has risen! Quite an achievement considering they are setting the price themselves, LOL!
Here’s the backoffice sell/buy area from two days ago: NOLINK://i.imgur.com/vLg3drb.png
The DagCoin price has increased even more and can now be defined even more freely in the internal exchange!
Currently you can set any price between 0.23 euros / DAG and 0.23 euros / DAG. (No, that was not a typo.)
NOLINK://i.imgur.com/bXofNhB.png
Hi! Stumbled upon this website because somebody who sold my mom bitcoin packages are now trying to sell her dagcoins.
I don’t know anything about dagcoins but it just sounds so suspect.
Anyway, thanks for the updates @Otto. Will warn her about it.
To anyone like “shy” who comes here looking for details on DagCoin:
More comments are in this post:
https://behindmlm.com/companies/dagcoin-mimics-onecoins-onelife-with-success-factory/
@shy – I don’t think anyone “sold your mom bitcoin packages.”
Bitcoin isn’t a company and they don’t have “packages.” Sounds like someone sold your mom a cloud mining scam package which isn’t mining bitcoins at all.
You really ought to report the person who keeps trying to steal your mothers money and do it soon.
Thanks Timothy. I told my mom about dagcoin and read up about onecoin. Thankfully she didn’t buy, but now that person is urging her to join another investment scheme called alt neuro. Still looking for info about the latter.
I told her about mlm scams involving cryptocurrency (thanks to this website) and to avoid the person recruiting her, which is hard because she’s a friend of my mom. As for reporting her, I believe she was once reported by someone else but nothing came out of it because the company (airbit club) was international, something like that.
So tl;dr this lady who keeps recruiting my mom is a member of airbit club, icomtech, also bought dagcoins, and is now a member of alt neuro, and wants my mom to join too.
I keep telling my mom to say no though.
@shy
Although I fear to hear the answer, a good question to the person recruiting your mom would be that how come she is no longer promoting Airbit Club, iComTech or DagCoin?
I mean: if they all were such an excellent opportunities, why did nothing come out of them? Why did she leave?
And if she left because they turned out not to be so excellent, why is AltNeuro supposed to be any different?
(Afraid to hear the answer because it’s going to be a set of excuses anyway: all of the above offer what in the end is unregistered securities, usually coupled with recruitment bonuses paid from the membership fees of new members -> pyramid scheme.)
@Oz:
Apparently NOLINK://www.altneuro.com is the site where the company is presented. If you want to add it to your already-too-long review list. 😉
@shy
It sounds like your mom dodged a bullet there.
Getting a 522 HTTP eror on the altneuro site.
Same here.
Browser links to the Cloudflare IP check page, then shows a 522 Connection timed out notice
Ponzi fraud that collapses before it manages to scam people. That’s nice.
@oz @littleroundman
This is an archive from the internet wayback machine:
web.archive.org/web/20190707064110/https://altneuro.com/
@David
Thanks for that. If AltNeuro is gone already though no point in a review.
Looks like Kari has dropped Dagcoin: facebook.com/KariWahlroosDAG
The mighty flighty eagle has moved on again to something call Wantage One.
facebook.com/wantageone “The best company for Network Marketing with the best BTC trading product on the market” LOLZ.
This guy moves on like shit through a goose…
Wantage One has been covered by Oz here:
https://behindmlm.com/mlm-reviews/wantage-one-review-another-wellmont-capital-ponzi-spinoff/
and more here:
https://behindmlm.com/companies/wantage-one-targeting-onecoin-ormeus-cbg-leo-ponzi-victims/
Slovenian media have reported about the latest developments of this “opportunity” involving Wahlroos, Deppisch, Lundgren and others: siol.net/digisvet/novice/wantage-one-onecoin-mrezni-marketing-511503
Dagcoin has bought ads from YouTube:
NOLINK://i.imgur.com/5gguvZt.jpg
Those ads lead to a page where “investors” can deposit their money for 12 months and get 10% interest. The page is within the Dagcoim domain so it’s their official ad, not some promoter doing his/her own.
Not a single word about education there.
Hi guys.
Merry Christmas. We are in 2020 .. Wow. According to this article;
Dagcoin is still working and there are lots of merchant around the world. So is dagcoin a scam Ponzi? Or it’s working properly?
DagCoin has been a Ponzi since day 1. It’s a closed-loop ecosystem. Any money out = money someone previously invested.
DagCoin is not publicly tradeable and there are no legitimate third-party merchants.
You might be able to get a coffee from a DagCoin affiliate in a third-world country somewhere. Or order some crap from Chinese dropshippers.
DagCoin is after all a OneCoin clone launched by former OneCoin scammers.
It’s working in the sense real money has been transferred to Grossberg and top recruiters. Said recruiters are the only ones making money in DagCoin (again like OneCoin).
Dag -> Wantage One -> ? Only Wahlroos Will know.
WO forbidden in Austria allready. Such bad luck.
fma.gv.at/en/wantage-one-ab/
@Behnam
Since Oz already assessed the “legitimization by the duration of the fraud” part, I’ll skip that and give few additional technical standing points:
DagCoin markets their secure, fast, reliable, etc. “currency”. But since they were kicked out from the Byteball tangle and moved to their own “Dagchain”:
– The whole system is running on Amazon servers. So all the talks about “superior performance” is just talk, their performance is what they buy from Amazon.
– There are no distributed nodes. There simply cannot be since their Github project for nodes stopped receiving any commits after they parted from Byteball tangle.
So if Grossberg forgets to pay the bill to Amazon, every single DagCoin ever issued will be gone forever.
Not that it matters because:
– The coins are not recorded to Dagchain. There are a 9 billion DAGs created in the DAGChain.
On November 9th 2018 Dagcoin had 8,94 BILLION Dagcoins in one single wallet. That means those DAGs cannot have been in any wallet of a Dagcoin member.
However at the same time the company made big news how they had distributed over 1 billion DAGs to the network – over 16 times the amount of DAGs in the wallets of the members.
Even if there were distributed nodes, they wouldn’t have any record of the ownership of the coins.
– Merchants cannot exchange DAGs into any other currency: The members can sell their coins in “the internal exchange”, where a mandatory part of the recruitment bonuses is used for buying the coins from the members.
If you move coins to your wallet, you cannot sell them in the internal exchange (and you cannot move them back).
If you don’t move coins to your wallet, you cannot transfer them to merchants (who in turn cannot move them back to internal exchange).
– Members cannot exchange their DAGs to any currency either: The internal had 26,599,155.47 DAGs for sale on January 10th 2020.
During the previous 24 hours there were 3,500 DAGs sold.
Assuming no morem members try to sell their DAGs, all DAGs for sale will be exchanged to euros in 7,652 days – just a little shy of 21 YEARS.
With a speed of 1,800 euros/day which wouldn’t buy the DAGs of even one investor, far less several.
If you have invested, sorry for your loss.
Congratulations Oz!
Work you do to reveal scams through your BehindMLM.com website, is once again mentioned and recognized by characters from the crypto community.
thecointribune.com/actualites/la-tribune-du-ponzi-vous-avez-deteste-onecoin-decouvrez-dagcoin/
Yay!
So the ‘beyondcrypto’ guy defending dagcoin here in 2018 is now running a new ponzi/MLM crypto scheme in australia called ‘The Peoples Reserve’.
Same shit, different coin, it is linked in with the freedom era MLM that sells water machines. Career scam artist.
Hi, can you clarify if DAGCOIN is definitely a scam?
It definitely smelt of a scam once upon a time but now the network behind it seems to be being used by the US Air Force amongst other well respected organisations.
Some exchanges are listing it these days too. Can’t help but wonder tbh.
DagCoin is the same OneCoin Ponzi clone scam it was when it launched.
The AirForce isn’t using it (lol), neither are any “respected organizations”. Even if they were, legitimacy via association isn’t a thing.
Getting listed on dodgy exchanges also doesn’t change the business model.