Did OneCoin just lose their Deutsche Bank account?
Over the last 24 hours reports have emerged that suggest OneCoin may have lost their Deutsche Bank account late last week.
OneCoin affiliates have confirmed that Deutsche Bank has been removed as a deposit option from the OneCoin backoffice:
The two remaining banks OneCoin affiliates are advised to deposit investment funds with are United Overseas Bank and Bank of Africa in Tanzania.
Whereas German OneCoin affiliates were previously directed to deposit funds with Deutsche Bank, German OneCoin groups are now advising affiliates to deposit with United Overseas Bank in Singapore.
Possibly in an attempt to avoid regulators and/or trip money laundering filters, OneCoin are banking under the inconspicuous account name “International Marketing Services Pte. Ltd.”.
Other than quietly removing Deutsche Bank as an investment deposit option for affiliates, OneCoin have yet to publicly confirm whether or not their account at the bank was terminated.
Deutsche Bank purportedly dropping OneCoin comes less than a week after a well-respected German consumer organization issued a warning against investment in the scheme.
Shoutout to WhistleBlowerFin and TimTayshun for the background work on this article.
And the bank of the month continues with OneCoin. I guess if you can guess which bank we are going to use next you can donate to Ruja’s retirement plan….oops the OneCoin program.
I am so glad this is not a Ponzi or they would also have to use another company name for people to use to deposit money to join. Uh….they are?….never mind.
I thought Onecoin was all about donating to Ruja’s Bulgarian property porfolio.
When their bank account is closed, they will certainly get a letter on why it was closed.
However, they (onecoin) will surely make up a story on why they changed the banks. Fascinating that is…
Why not show that letter to confirm anyone’s suspicious?
… oh yeah – because it would hurt the ponzi scheme.
The banks are scared because OneCoin is the future of money. OneCoin will soon take over the industry and the banks are doing what they can to stop it.
That what you said will be the mostly likely excuse this time.
Last time Labine had that ridiculously laughable “CommerzBank was too small for us” excuse.
Now it’s clear to even the most stupidest onecoiner, that banks don’t want OneCoin. So the excuse will most likely be that banks are scared because OneCoin will take over!!!
Idiotic OneCoin followers will of course believe this stupid excuse, and scream in extacy that this is the proof that OneCoin is taking over!
And Labine will “whoop whoop!!!” on his facebook. lol
@Mr. Ponzi & Whistleblower –
You guessed it! It’s because “Deutsche Bank is Collapsing,” apparently
IMAGE: pinterest.com/pin/184506915963650845/
(sorry Oz, I’ll find another image hosting service)
From “Onecoin-OneLife Opportunity”
^^citing this short YouTube video: youtube.com/watch?v=_1i01OjMu2c&feature=youtu.be
Unfortunately, there IS actually evidence that Deutsche Bank DOES have massive exposure to derivitives risk.
FROM WIKI: Deutsche Bank today remains by far the largest German bank, with assets of 1.7 trillion euros in April 2016. The second-ranked German bank, Commerzbank, has assets that are about a third of those of Deutsche Bank.
FROM CNBC:
– it goes on to talk about the risk and fallout from Brexit
SOURCE: cnbc.com/2016/07/15/deutsche-bank-a-ticking-time-bomb.html
So, CommerzBank was too small, and Deutsche “too big and risky” :/
International Marketing Services = IMS = Frank Ricketts. he has/had multiple accounts since OPN/Unaico/SiteTalk scam operated from Munster, Germany and Singapore.
This is how he and Kenny Nordlund negociated themselves into OneCoin in the first place.. is this finally the beginning of an end for these crooks?
woo hoo! sometime in the last couple of months i had emailed the particular deutsche bank branch in germany, which onecoin was using, asking them to do their due diligence into this account and linking to several relevant articles here on behindmlm.
i’m just glad, glad, glad, even though i have no way of knowing if they even read my mail! 🙂
so, woo hoo!
we must now email the united overseas bank in singapore and make life more difficult for the onecoin ponziqueen ruja ignatova.
why does ruja’s cryptocurrency need ‘evil’ bank services!! let rujamama kill bitcoin and the banks with one swirrrl of her princess ball gowns!!
Tim is correct. Deutsche Bank are in BIIIIG trouble and could well be the next Lehman, or the black swan event that starts the global financial collapse.
That said, ALL of Italy’s banks are insolvent, and Portugal isn’t fairing much better.
Anyone who keeps a lot of money in any bank is asking for trouble, now that the default is depositer bail-in rather than govt bail-out.
However, when you’re doing online business, you need a bank to take the money from people and send it somewhere else (eg. your Bulgarian Real Estate portfolio), so it wouldn’t make any sense to volutarily close a bank account as ‘respectable’ and ‘local’ as Deutsche.
Explanation from the latest OneLife newsletter why Deutsche Bank is not available anymore:
Link to the newsletter: us9.campaign-archive1.com/?u=cf9659fd672fe664d487e7e1b&id=575dff224e
And the OC spin is that OneCoin dumped Deutsche Bank, not the other way round, because DB’s about to go pop (not undeservedly actually, in real life).
To quote the Voice from the Latrine
You got to laugh.
If Ruja was so far ahead of the curve ball, then she would have never moved OneCoin’s bank account to Deutsche Bank in the first place.
It’s not like this has been a secret in the financial services community about the problems of Deutsche Bank with its derivatives portfolio, and since Ruja is all knowing and expert in the financial services industry, so she claims, how could she have not known this problem with Deutsche Bank? Expert my a$$ests.
while DB might be in trouble, they certainly don’t need dealings with a known scheme to finish them off.
If Ruja was ahead of the curve, She would realize that a cryptocurrency doesn’t require a bank.
If OneCoiners were ahead of the curve, they would realize that a currency that is managed by a for-profit organization is no different than currency managed by a country.
Given we’ve been seeing OneCoin account closures for a year or so all over the world, it’s difficult to take anything they say about their bank accounts seriously.
This time there’s a scapegoat, what about the other dozen times?
Also if you were handling millions of dollars of laundered money from all around the world, you’re gunna claim stability and security with a bank in Tanzania? Please.
so, ruja woke up one morning and decided that deutsche bank was going to collapse “NOW!!” and rushed in her nightie to shut down her account there?
why didn’t she just shift her onecoin account to another german bank?
why first shut down the deutsche bank account and then go bank hunting?
obvious is obvious. deutsche bank threw ruja’s ass out and she’s hiding behind deutsche banks ‘problems’ and LYING to onecoin affiliates.
with oct 1st coming up and the Great Doubling of coins on the Horizon, affiliates are gassing about the ‘usability’ of onecoins for buying coffee or a lunch.
kari wahlroos commented :
translated, this ^^ means – only investors of onecoin some of whom may be small businesspersons with barber shops, pizza places etc will ‘accept’ the onecoin shitcoin. no business of repute will touch us.
also, in a recent corporate update it was announced that onecoin is now worth $6.9 [approx].
so, if someone buys a pizza from another affiliate for $5, how does he do it? onecoin is not divisible into smaller denominations, which is why ruja had to increase the coin supply to 120 million coins!!
I think they need a new blockchain after the October one. Brilliant idea to let flaws in and then change script in order to fix it.
As they say – Bitcoin is old technology. IT IS OUTDATED!1!!
They fail to see the community and updates behind it… oh well. For onecoiners, 50X + DOUBLE everything update seems to be reasonable.
It seems to be divisible to 1.00000000.
ken labine the onecoin ponzi pusher from canada who got kicked up the onecoin pecking order by being invited to a onecoin recruitment tour of england, has published a longass video defending onecoin against ‘bloggers’ [any guesses whom he’s referring to? 🙂 ]
he reads out the correct definitions of ‘ponzi’ and ‘pyramid’ schemes but then goes ahead to misinterpret them, either because he’s willfully misinforming prospects, or is really just dumb.
hello labine, a ponzi scheme is where you receive returns without much effort, and where these returns are sourced from other participants instead of any legitimate business profits.
it’s not compulsory for a ponzi scheme to ‘guarantee’ returns. neither does acknowledging ‘risk’ make a scheme any less ponzi.
the fact that onecoin investors ‘expect’ their onecoins to give them an ROI without onecoin having any real world value [only an internal made-up value], makes this part of onecoin a ‘ponzi’ scheme.
labine believes that a ‘pyramid’ scheme does not sell real products, but as onecoin is selling ‘education packages’ and commissions are paid on these sales, onecoin is not a pyramid scheme.
on the basis of this^^^ superficial understanding of pyramid schemes, labine is inviting friends and family to invest in onecoin.
however, merely having a ‘product’ does not save a scheme from being a pyramid. the product should have ‘real’ value which is demonstrated by the product being sold at ‘retail’ to people who are not participants in the scheme.
onecoin has NO retail, the only purchasers of the educational packages are onecoin affiliates themselves, which makes the commissions earned ‘recruitment’ commissions and not ‘sales’ commissions.
this ^^ MLM part of onecoin is the ‘pyramid’ scheme.
labine asks people to trust his version of the truth and not rely on ‘google’ searches to make a decision about onecoin.
well, if google searches lead any prospective onecoin investors here they can check out the real truth here and then make informed decisions about onecoin.
@ anjali
Thanks! Please post the link
He’s just repeating McMurrain’s recent weasel words, which are obviously becoming the OneThing official line as handed down by their new Thought Police, aka “Compliance”.
Someone was asking recently about selling OC accounts. I wonder when that will be banned….doesn’t really fit in with KYC, now does it?
It’s not a new video but Labine posted it again on his Facebook recently:
youtube.com/watch?v=GiXX4TyJQJA
Labine celebrating on his Facebook that “you can buy cars (with OneCoin). WHOOP WHOOP”.
i.imgsafe.org/1c5a38b2ab.png
Lol. Really Ken.
Even if you join the downline of the car salesman, to be able even in principle to transfer coins, there are quite strict coin transfer limits:
Each Package comes with a set limit for transferable coins daily: onecoinpartners.com/onecoin-news/onecoin-newsletter-may-9-2016/
Starter – 5;
Trader – 10;
Pro Trader – 10;
Executive Trader – 10;
Tycoon Trader – 25;
Premium Trader – 25;
Festival Trader – 40;
Infinity Trader – 40;
So with the Infinity Trader package, you can transfer 278 euros worth of coins in a day within your downline/upline, if the car salesman follows Ruja’s currency price. So lets be genereous and say he gives 6.95€ for 1 OneCoin.
Buying a 40 000 euro car would take 144 days (5756 OneCoins), and every day you would have to transfer the max 40 coins to the car salesman..
This is really amazingly handy!!! So no Ken, I think it is extremely unlikely that you are able to buy a car with OneCoins, even if the salesman put the OneCoin logo on the wall..
Found this nugget recently penned by Jesse (Lee) Ghostley, a US OneCoiner….. remember Aurumcoin, another Ignatova masterpiece?
onecoinreview.us/2016/08/how-to-get-gold-backed-aurumcoin-with.html
OneCoin “Diamond”, Muhammed Zafar, a bit off message and not very Sharia Compliant 🙂
i.imgur.com/xkSmOVb.png
From where is that? I don’t see that on his Facebook page.
If this is real and Zafar says how it is: “I don’t give a fuck if it’s a scam, I want to make money.” Actually I hate less these kind of “honest scammers”.
The most sickening scammers are the hypocritical bullshitters like Labine that say they want to help people and give them AMAZING opportunities praising the lord and making themselves appear as a good guy.
At least Zafar admits to himself that he is not a good guy. Labine probably can’t admit it even to himself.
onelife corporate has commented on its official facebook page that onelife presentations will soon be available in the hindi language [india]. this appears to be a push towards heavy recruitment in india which was on their agenda for 2016.
the indian govt has been working towards regulating the MLM industry with a specific law which addresses this industry, the draft of which is ready. alongside, the direct selling forum of india which is working with the govt to implement these changes, has released a list of ‘banned’ MLM products which can attract strict legal action, going into effect from august 1, 2016.
this list includes cryptocurrency products:
onecoin better be careful, our regulators will be itching to start exercising their powers over the MLM industry under these new guidelines.
plus, i will be writing to the EOW’s of all metro’s and to the RBI shortly.
our regulators may be only too happy to step in and stop a global fraud like onecoin because it will be a feather in their cap.
mlmekta.com/2016/08/this-is-message-which-has-being.html
to be clearer, any company offering cryptocurrency will not be considered to be a legitimate MLM, and will attract the provisions of the ‘prize chits and money circulation [banning] act’ [PCMC act] under which promoters and participants of such a scheme can be arrested immediately without any notice.
I wouldn’t worry too much about that onecoin have previously demonstrated that they really don’t understand what kyc actually means (hint it’s more than someone proving who they are)
@WBF
I have no reason to believe it’s fabricated, it’s from his FB, friends view only. The pm exchange was with a Finnish OC skeptic a/c who manages to quite successfully wind OCers up into such indiscretions, which could come in handy down the road.
@anjali
I wish I shared your optimism. This is a real talk link on the subject:
moneylife.in/article/will-a-new-law-to-check-pyramid-schemes-work/47970.html
Their take on this is not quite so hopeful.
moneylife is just one of many financial publications in india, and they are entitled to their views about the govt’s new regulations for MLM.
the govt has been deliberating upon these regulations for years now and has naturally considered views across the board.
that moneylife is not fully satisfied with the govt’s proposal does not mean the regulations will not come into force and be enforced.
the world over we see that there is no ‘bright line’ definition for ‘pyramid schemes’ or ‘MLM’. our regulators and courts are smart enough to work it out as many countries have, and moneylife should not needlessly worry.
whatever shortcomings the regulations may have, will be gradually corrected over time, and this is a good start for india.
ding ding, shot off the mails already cause i’m a smooooth operator! 🙂
whoa
just recd this mail:
i have already separately emailed the joint commissioner EOW, but shot off a mail to the commissioner too, for good measure.
for some reason i’m shit nervous because this is my homeground. may have to hide under my bed for a while 🙂
meanwhile, hello rujababy welcome to india!
Great job India!!!
This means there can be no victims. The truly innocent can’t be fooled as it’s simply illegal to join.
And if all MLM isn’t going to be abolished, I’d love to see each and every MLM vetted by a government appointed agency.
It should not be made easy to receive approval status, and have yearly auditing mandatory for renewal. It should be illegal to participate in any MLM without the official seal. Fees would be paid for by those companies applying each year.
And I’m not talking about self serving DSA associations handling the vetting process. What a joke that has been.
though such schemes which offer banned products in an MLM format will attract the PCMC act, ‘net losers’ in such schemes will still be treated as victims.
under the PCMC act, ‘net winners’ are not treated as victims and can be arrested.
Did Facebook just remove OneCoin’s Facebook page?
facebook.com/OneCoin1/
404 here too.
Let’s give it a few hours before making the call either way.
On the other hand facebook.com/OneCoinOfficialPage/ works. But their main OneCoin.eu site links to the OneCoin1 Facebook 404-page. Maybe this is just a rearrengement and nothing to celebrate.
They may have simply renamed it.
facebook.com/OneCoinOfficialPage/
The OneLife page is there as well.
facebook.com/OneLifeOfficial/
onecoin.eu link to FB page still down, interesting.
Like Chris Bailey posted before your comment, it was just renamed and they forgot to update the link in onecoin.eu.
Guys check this out for fun:
Ruja in action – full of sh..
youtube.com/watch?v=ZHtx-kOCl2U
these comments posted on onecoin’s official FB page just hours ago, show how pitifully onecoin is managed by ruja ignatova.
if onecoin is so poorly managed how can investors feel confident to pay in any money to ruja&co?
KYC takes ages, then you are in line for the mining of your tokens, then selling these mined coins have a daily limit – if at all you can sell them on onecoin’s fake internal exchange.
by the time you are ready to get your free ROI on your investment and make back all the money you invested, onecoin may be dead and gone.
Inside sources tell me (though, do far no incontrovertible “evidence”) that there are 5 “Master Computers” managing a mess of excel spreadsheets delegating tokens for coins to users who have been growing at an exponential pace, at least for part of this year. And that exchanging 57 tokens for a single Onecoin at such a scale, to users around the world is more than overwhelming and impossible.
Where there an actual blockchain from the beginning, which I’m exerting there definitely isn’t, than exchanging tokens cryptographically through an actual technologically receptive blockchain model would be as simple matching inputs and outputs.
However, based on this alleged “insider knowledge,” this is all done manually, making it not only daunting, but literally impossible with the lean staff this “billion dollar company” has.
I believe my source will eventually be validated, but in the meantime documenting actual “proof” of this is nothing more than “heresay,” for the time being, at least.
I have no reason to doubt this, as Occam’s Razor would deduce that this is the simplest cause & effect result and outcome.
Furthermore, requiring a single entry or query from users databases (at some point before tallying total points/ coins manually) into a “new” blockchain (which would be their first) could potentially auto-populate correct numbers from one database into their bastardized version of whatever”blockchain” they can line-command the Excel sheets to populate as “pre-mined” allowances linking the old databases to this new one before forking it to perform like an actual blockchain.
Half of this theory is conjecture and half is working on information that I am lead to believe is based facts.
Again, well eventually see transparency once it is collapsed, I hope.
here are some red flags that current and prospective onecoiners should consider, even though they may not follow ‘technical’ arguments about why onecoin is not a real cryptocurrency:
Anjali you are so right about this point, mr Igor Alberts was resently convicted for fraud, he did 6x month’s time, he is scamming since 1996.
nolink://www.volkskrant.nl/archief/carthago-verwoest~a425054/ (use google translate since we do not understand dutch)
now selling OneCoin as an investment, he has a long professional scamming career with thousands of victims and all who are working with him will get burned, this will the biggest clawback case ever in the world.
@TimTayshun,
Excel spreadsheets? Sounds unnecessarily complicated. Who is telling you this?
In the spirit of Ockam’s razor, I offer a much simpler explanation: that tokens and coins are handled along with everything else in a SQL database. Of course there is no blockchain, only an unconvincing simulation of one. A few random numbers and hexadecimal strings that can be generated in a fraction of second.
@OzDelphi – I may have misheard Excel for SQL. I was told there are exactly 5 ” Master” computers, which managed the network.
I have a Serbian contact who has gleaned such information from people who claim to “know” the Sofia office and the 50 computers which operated therein.
Businessforhome just revealed some figures:
businessforhome.org/2016/09/onecoin-is-growing-fast-320-millionaires-in-commission/
This might well be #1 ponzi ever… And authorities do nothing… When is this SCAM going to stop? This is unbelievable!
Does anyone know who are the shareholders of OneCoin Ltd in Gibraltar? The shareholders of One Network Services ltd in Bulgaria?
I’ve heard names like Parhiala, Greenwood and Karlsson and the bulgarian mafia.
Steinkeller brothers and Alberts are bought to join? What’s happening…
BFH had long ago sold their soul to you-know-who. They are just a PR mouthpiece now, i.e. they get blown without feeling the pleasure.
The following documents were sourced by myself from the commercial registries of Gibraltar and Bulgaria.
Very briefly; One Network Services Limited, Bulgaria (nolink://imgur.com/a/IRuBi) is owned by Pegaron Invest Limited, Bulgaria (nolink://imgur.com/a/eyWDN), which is owned by Artefix Europe Limited, Bulgaria (nolink://imgur.com/a/j6lcq), which is owned by Ruja’s mother Veska Ignatov (In Bulgarian: ВЕСКА ИГНАТОВ).
OneCoin Limited, Gibraltar (nolink://imgur.com/a/IRuBi) is owned by OneCoin Limited, UAE. I have not investigated this UAE company. Note that Ruja Ignatova (In Bulgarian: РУЖА ИГНАТОВА) has no current position in any of the companies I have investigated.
More on these documents when I have some free time.
I have a source in Nederlands who states he was present when Ted Nyuten (Business For Home) accepted a salary payout (literally a “salary”) for exactly $40,000 to NOT publish negative stories on Onecoin, but to rather publish “positive” stories.
Whether these are “scripted” or not is not 100% clear. My source is not YET willing to reveal themself.
He CLAIMS to have been burned on the Unaico/ SiteTalk scam (AKA: Sebastian Greenwood deals) and that he has intimate knowledge of a deal which took place between Onecoin and Ted Nyuten at Business for Home’s ….negotiations.
He CLAIMS to have been “pampered” during this time by Sebastian, himself (think ‘hookers, [cocaine ] and expensive champagne, etc.).
He states that Sebastien Greenwood loves the cocaine. But, that this is dangerous information that will need to be substantiated.
Any “inside takers?”
Just as sidenote, it is a bit strange that in some papers Veska’s name is written Ignatov. Bulgarian female family name should in this case end with ‘a’ – Ignatova.
At OWF page it’s written Veska Ignatova and there is also picture of her: oneworldfoundation.eu/en/aboutus/meettheowfteam
Looking into FinacialIT.net website. The list of official magazine issues doesn’t show the cover with Ruja face anymore! And search through the whole site doesn’t bring anything about this legendary Feb 2016 issue 🙂
@WhistleBlowerFin, I don’t know why the ‘a’ suffix is dropped, but every company document I have ever seen spells her surname that way.
For further examples, refer to OWF’s 2015 Financial Report in Bulgarian on the OWF website, or a letter in English to the US Patent and Trademark Office signed by her at nolink://imgur.com/YsSUnTl.
Thanks for the answers! and what’s this? galileo-europe.com
the first company that is accepting the onecoin? or did they paid this company to announce that?
I’ve heard that alibaba will accept it too by the end of this year, but there were some problems now..
Galileo Satellite Control Systems is owned by a OneCoin affiliate, there’s an affiliate link on the website – galileo-europe.com/onecoin/
No legitimate third-party merchant accepts Onecoin.
Yet another Onecoiner, Matei Alexandru, has now made a video about OneCoin freezing THREE of his accounts: youtube.com/watch?v=bmPUqzKtCpM
IN the video he speaks aboutblow absurd Onecoin’s new TOS is and the accusations from elusive person or persons who go by, “The Compliance Team.”
I’ll message him and try to get some FB and other screen shots too
To add more detail to the above, see this post/ thread:
m.facebook.com/groups/1215633575116226?message_id=1296627817016801¬if_t=like_tagged¬if_id=1473254244427343&ref=m_notif
Money Life, a publication poor of India just ran a story on OneCoin describing and warning of the scam:
moneylife.in/article/beware-onecoin-luring-indians-by-selling-tokens-for-cryptocurrency/48099.html
generally, if a story like this makes it to the press, you can be pretty sure the authorities are [or will be] investigating it.
onecoin better be very very careful in india now. i had sent a follow up mail to the joint commissioner mumbai EOW, with a couple of names of participants who are onecoin ‘leaders’ in maharashtra. our police arrests first and asks questions later.
grrr that article is so poorly written it gets on my nerves when the press behaves like a jackass. must be a junior writer because of stupidity like ‘Despite the fiasco of BitCoin'[insinuating that bitcoin is a fraudulent cryptocurrency] and ‘OneCoin being a major MLM scheme’ [insinuating that MLM is fraudulent].
anyways, the gist of the article is that onecoin is a scam, so onecoin better get into emergency mode in india now.
John Reilly says in a video that there was some blog post by CoinDesk in 2015 and he says OneCoin legally proved in court that CoinDesk blog was misinformation and had to take down that blog.
Is Reilly talking BS, or was there this kind of case?
youtube.com/watch?v=m-MeWhIjb70&t=334
What blog post? CoinDesk still have their article about the Belgian regulatory warning.
OneCoin hasn’t taken anyone to court. It’s just sabre rattling and BS from their affiliates.
I wouldn’t believe Reilly if he told me the time.
CoinDesk are more hardcore crypto than other news sites.
Like on BCT, pointless quasi crypto stuff like OC gets little coverage, but if OC had gone after them surely they would also have gone after CoinTelegraph.
But CT’s major article on Onecoin is still very much there, 146,500 views and counting since its May 2015 publication
cointelegraph.com/news/one-coin-much-scam-onecoin-exposed-as-global-mlm-ponzi-scheme
The comments section got spammed to hell by OCer’s and CT cleaned it up, which led to some internal CT links to the article returning 404.
I would be very much interested in any court action taken by OC against anyone: surprisingly I doubt whether there is one, for obvious reasons.
Yeah, seems John Reilly is the same kind of pathological liar as Ken Labine and the other OneCoin upliners trying to lure more victims.
They can tell total lies absolutely shamelessly. It’s almost fascinating to see how they have the arrogance to do that so shamelessly.
I hope Juha won’t split from this world. His place is in Thai prison minimum 20 years.
scontent.xx.fbcdn.net/v/t1.0-9/14333114_10209940533167104_4274576585701744134_n.jpg?oh=64fb944bdd02bf30dae0bee3f2a49102&oe=5874A8E5
in this video reilly says onecoin being ‘centralized’ makes it ‘more malleable’. as if being ‘malleable’ is a good thing for a crytocurrency!
being ‘centralized’ [and malleable], ie under the control of ruja ignatova, means that onecoin can be assigned any ‘value’ she wants, create as many coins and allow as many ‘splits’ that she wants, and take away anyone’s onecoins when she wants.
this is ^^ not how a real cryptocurrency functions and people should consider this before believing reilly’s spiel and investing money with onecoin.
hello, can somebody answer my simple questions… i followed a time now and this theme is interesting me:
onecoin shows a proofed document from Schulenberg und Schenk which allegedly proofs that it is not ponzi scheme… schulenberg and schenk proof this in germany and the proof nearly every mlm in that direction.. fake?
i followed some links about investigation, norway, sweden… it is clear that investigations take place when somebody notyfies authorities… thats their job.. but i have seen no real results as in bulgaria, finland and sweden… business goes on…
onecoin said it launches in india… now investigations there? results?
when was first time bitcoins stockmarket launch… and what could you do with bitcoins before – the time from start to stock market launch? i ask because i saw articles which say exact the same from bitcoin as from onecoin now…
as bitcoin mining is very complicated and expensiv in earlier times – i think its clear that onecoin attracts people… now i got to know there are bitcoin mining clouds… which are also kind of centralization? is this correct?
when (date? from beginning?) did bitcoin make the blockchain open?
is there proof that onecoin has no blockchain?..facts?
how increased the technology of blockchains? is it theoretical possible to have such blockchain like onecoin says?
as i heard that there are no names of people who work on the blockchain for one coin…isn’t it possible that they dont speak about it because it is a critical time right now?…
as i guess…when i want to do a thing that could be good..i will also not talk about it till time is right..
a lot of bad news come from bitcoiners… could it be that they are a little be afraid that bitcoin will decrease value?
serious questions…and i expect some serious answers…
i am not stating that something is good or bad…i just talk serious… expecting serious answers
thank you
Mike
all but ignores OneCoin uses newly invested funds to pay new investors, making it a Ponzi scheme.
Shop around and for the right amount you’ll find a lawyer who’ll swear black and blue even the most obvious Ponzi scheme isn’t.
Bulgaria is one of the most corrupt countries in the EU. Regulatory investigations take time.
Combine the two and you have a long drawn out process.
Bitcoin isn’t on the stock market.
No, because the cryptocurrency being mined (bitcoin) is decentralized. Whether you cloud mine or not, bitcoin remains decentralized.
From conception.
Manipulation of coin generation times and the fact they’ve said they’ll throw away one blockchain and copy and paste a new blockchain in October.
That’s not how a blockchain works.
Seeing as OneCoin won’t let anyone look at the blockchain, there’s not much point answering this.
OneCoin can make up whatever they want about their blockchain but it’s meaningless unless the blockchain is available to the public.
No. Rather it’s because an excel spreadsheet doesn’t need anyone working on it.
Come October all they’re going to do is close the script currently running and start a new script. There’s no actual blockchain.
The price of OneCoin has nothing to do with bitcoin. The reporting of “bad news” arises due to the harm Ponzi schemes posing as cryptocurrencies do to the industry.
Think of it like a legit diamond dealer crying foul over a dealer flogging fake diamonds.
The legit dealer isn’t worried about competition from the fake dealer selling fakes, but rather the fallout once those who buy from the fake dealer once they realize they’ve been conned.
It looks bad for the diamond industry in general and the same principle applies to bitcoin and OneCoin.
Isn’t that usual for mlm-concepts? i don’t know any of these who dont do this…although a lot of them are legal here…
other question: Swisscoin – where i found information that it is an copy of onecoin? also no blockchain?
what are costs of blockchain? isn’t it so that also bank wanna start cryptocurrencies…
@Oz – spot on!
And also, cryptocurrency enthusiasts are actually worried about general image perception, as OneCoin “family” appear to truly be a cult within the scam and for which we certainly don’t want our technology field of study tied to some whacky Jim Jones or Heaven’s Gate episodeled lead by Ruja Ignatova when this all starts tumbling down due to “haters” and The “non-faithful” who will be the ones accused of ‘ruining for everybody!’
See Image here: scontent.frir1-1.fna.fbcdn.net/v/t1.0-9/fr/cp0/e15/q65/14329941_1153087978092138_4365286478343797090_n.jpg?efg=eyJpIjoidCJ9&oh=7daad7bb7b335eb717ec4b683fbf0223&oe=587E8E4F
^^^^can someone please tell me WTH is going on in this meeting? Because it looks like religion. But the “savior” is either OneCoin/ Ruja (“200+ IQ”) …or greed, itself.
It would probably be far more appropriate to adorn the threshold of every OneCoin meeting/ convention/ seminar with a fire-scorched wooden plaque declaring, “Abandon All Hope All Ye Who Enter These Premises!”
The way Onecoin ponzi has been made, is that implies you get especially with the more expensive packages thousands of percent profit, up to over ten thousand percent with the most expensive package, and this is even without any coin price increase.
Add to this the projected coin price increase, and the implied profits especially with the more expensive packages rise to totally insane levels.
Of course Onecoin “doesn’t promise any profits”, but in practise it implies huge profits just from “the mining” with the more expensive packages even without coin price increase.
This is explained so that members who are “educated miners” get to create the coin and get it much more cheaper than what Ruja’s exchange value for the coin is.
The circle keeps running (not so well but barely), because members have to use 40% of their network bonus to buy the coins from Ruja’s exchange, so some of the sell orders are sometimes succesfull. Of course there are very strict daily selling limits also in place.
Onecoin explains that token is “energy” which is used for mining/producing a onecoin via mining. You buy an education package and get free tokens.
Of course people are only interested in tokens, nobody cares anything about Onecoin’s education. Currently you need 70 tokens to “mine” 1 onecoin. Most likely there is not any mining in reality.
We have then the token “split”, which is really a doubling of total value of tokens, and this can happen up to 7 times for the tokens, depending on the package (more expensive packages get more splits).
I don’t know how this Onecoin’s concept can be even called “split”, because the split concept with stocks means that the unit value halves and total value stays the same, only the amount of stock doubles.
In Onecoin you can have the tokens’ amount and total value double recursively up to 7 times, which is quite crazy and should ring the alarm bells.
Most of the money from the packages goes to Ruja’s and her friends’ pockets, while the internal exchange is running with some of the network bonus money (barely).
Of course people will never get millions out of their coins, but some people were previously able to get their smaller investment back by stubbornly selling every day for close to a year the max amount possible.
It’s really quite ingenious fraud. And you’ll get 60% of network bonus money in cash, so it is possible to make real money with the network bonuses.
onecoinfo.files.wordpress.com/2016/04/onecoin-calculation-with-automining-july-20164.png
@Mike
No, only Ponzi schemes.
SwissCoin has its own review, search bar is on the top right of every page.
Nothing, it’s distributed.
Whether they do or not has nothing to do with OneCoin being a Ponzi scheme.
A legit MLM generates revenue by selling merchandise that people want. A Ponzi scheme generates revenue off of investors joining.
I see the word “blockchain” being bandied about by “Mike”.
A blockchain is an infrastructure. Any infrastructure has running costs.
A centralized (as various institutions are working on) blockchain is financed by its perceived advantages over the conventional ledger based alternatives, including cost savings.
There is no need for coin production or proof of work mining to operate a private centralized blockchain (although there is nothing to stop Central Banks utilizing blockchain technology to create a pegged “fiat 2.0”).
A decentralized blockchain which supports a public cryptocurrency such as Bitcoin uses coin rewards as an incentive for miners to make the network function.
Miners run the nodes which accumulate and verify transactions in a network building ‘block’, for which they are rewarded with new coins; a fee is also charged on each transaction.
This (proof of work) mining process is also a way to distribute coins, the value of which is determined on a free market basis related to the usability of the coin (which is reflected in the amount of transactions which take place).
Onecoin bastardizes these two concepts and comes up with a private centralized cryptocoin. This spawns complete absurdities such as
Mining.
Mining waiting time.
Difficulty.
Difficulty increase.
Tokens to convert into coins.
Splits.
Barometers.
ad nauseum..
These are all utterly irrelevant to the production of a centralized “coin”.
I could code a TMFPcoin tomorrow, however many I fancy.
TMFPcoins would quite rightly have no ‘value’, because they are of no use to anyone. I could say they are worth $1 each, but unless they were tradable freely, that statement would be meaningless.
Compare bitcoin.org/bitcoin.pdf and onecoinfo.com/2016/04/04/mining-2/ and laugh.
Thanks for all your answers..,,
Please answer the following questions:
Any Proof Information about (Ozedit: Offtopic. If you wish to discuss other MLM companies do it in the comments of the appropriate article.)
so now i can write from computer and not iphone…makes it a little bit easier….
my thoughts: i am a new cryptocurrency…i wanna get attention…as there are 1000 others…which marketing i would use…i think mlm…because of some reasons:
1) i get more attention
2) the people who believe in me first…have a profit
3) if i have everything correct…good blockchain and so on….i know that of 8 billion people not all will trust me…
so to stay on market i would: first get as much attention i want to have—with good bonusses for sale.. .because otherwise i would pay more for advertising…
if i would be large enough….i would spent money for actual action: that means… i cann use my cryptocurrency for buying something, for exchange, for transfers to family in other countries and so on…
but to get big enough… i have to keep secrets so that nobody else can do it…otherwise i would have too many others who challenge me…
the point i wanna state is… bitcoin is number one….but if i want to challenge bitcoin.. i have to go other ways.. i know that i get direct challenges… from everybody who would be against me… so i would keep secret…
the other thing is..i would be honest….and i i dont know….who is honest and not so money-fixed only…that he makes a good reliable business… and therefore i am searching for…
Mike
an other point:
what i like from onecoin: everybody can earn money…
what i dont like: nobody gets nothing…when its scam…
what i wanna state is: good cryptocurrency…and with promotion i can earn something…. ideal…
scam…. only earning because of others investment… bullshit..
so i think: good cryptocurrency… perfect marketing….ideal: cryptocurrency… mlm… the people who believe can make their living…. np….
missing: honesty….. question: why????
isnt it possible to combine all of that???
greetings
Mike
and last but not least:
what i dont understand is:
i understand if i invest more….i have more…
what i dont understand is: if i do mlm… the work is the same… so i should get the same profits like somebody who just pays more….
onother point of view is:
if i make 120 billion from an excel sheet… or 300 million of a blockchain….
it is just important who believes in what…. if 2 billion believe in an excel sheet…and none in a block chain…or 2 billion in a blockchain…and none in an excel sheet…
who is more worth?
the winner will always be the one…who has more service…who is more uncomplicated…and who has better access to the people….
also our euro is only one peace of paper..but as long i get something for it in exchange…i can make living….
when i look at our bank, injurancies… or whatever… i cannot look who is earning from this… but as long as i get something in exchange for it.. it is ok..
as i know people in countires like italy, greece… and so on… the often have ohter opprtunities then money…. it is simply an exchange… whatever and however they do it…
what i wanna state: if onecoin is a scam…andeverybody believes in it…it will work…
but everybody has change to chane opinion… so what if it is scam… and now they see opportunity… or.. if bitcoin was a joke… and then they get the change to do something good… and they do it…
nobody knows….. life will prove that…
my way is only…. be honest… thats what i think is the only way to get satisfied…
@Mike
I am answering some of your original questions. I wil lstart with cryptocurrency. But do understand that I am not an expert about Crptocurrencies, but as far as i have read explanations about it, this how it seems to go and comparing to OneCoin:
Each Blockchain needs to be decrypted.
Blockchain is the thing that has those coins in it. If i remember right, OneCoin have claimed each of its blockchains to contain 10 000 OneCoins. Hence everytime one blockchain gets decrypted, 10 000 new OneCoins are claimed to come out.
Crypting and Decrypting. Lets say i want to crypt “Hello”, I could crypt it as “Gdkkn”.
To decrypt this word, you would need to figure out that i used decoding of putting one alphabet before the real one. So A=B, B=C, and in this case G=H, D=E, K=L, N=O.
This is simple crypting and decrypting. When it comes to Cryptocurrencies, they however are based upon mathematical formulas of some sort.
I dont know how exactly those are done, but lets take it like this:
What is the squareroot of 4? that would be 2 (2×2 = 4), what is the squareroot of 16? that would be 4 (4×4 = 16).
Those are quite quick to come out, since you just simply try 1×1, 2×2, 3×3, 4×4 until you come to the right answer, but compare this to squareroot of 1024?
That is not so fast to come up with anymore with the same 1×1, 2×2, 3×3… (it is actually 32×32=1024).
Cryptocurrencies are sort of based upon similar things like these, that there are mathematical formulas that are easy to create, but hard to decrypt.
In addition, this mathematical formula is such, that it always gives unique number to each coin. Compare this to Pi, which will always gives new decimal without repeating itself as you keep calculating it.
Thing is, these codes to be decrypted are sort of similar to if you are trying to figure out someone elses PIN Code.
If you have hundred different PIN codes to crack, there is no point in trying to figure out what that exact person would be using as his PIN code, but instead, you just simply start from 0000 and continue 0001, 0002… until you find the right one.
If PIN code happens to be 0003, you will find it already after 4 tries, but if it happens to be 9999, then it will take much longer for you to find it with that method.
Something similar in sense, happens with cryptocoins blockchains when they are being decrypted until they can be used.
The main point with this is, that just like when you have 3 different PIN codes to crack, similarly if you have 3 different blockchains to decrypt, it is not a fixed time that it takes to crack them.
You can calculate the average time based upon probability. That if you have 100 PIN codes to crack, then if those PIN codes have been picked randomly, then on average it will take same time as cracking one PIN code that is 5000 to crack them.
Some might be faster (closer to beginning), some might be slower (closer to end), but on average they take roughly the time that it takes to crack PIN code 5000.
This is important because if you look at OneCoins blockchain creation (you can see it in backend of OneCoin, shown in one of Behindmlm articles) they are creating a blockchain each 10 minutes, there is only 1-2 second difference between creation of each blockchain.
As far as i have understood, there is no way to create real blcokchains with that high accuracy, since sometimes it takes shorter (earlier PIN code tries are already right) and sometimes it takes longer to crack them. Since they are mathematical puzzles that are cracked by trial and error method one by one.
Even if you could control the power of your computer, you still couldnt make it go exact 10 minute intervals, since you wouldnt in advance know if that PIN code you are trying to crack is closer to beginning or end.
Hence, if i have understood cryptocurrency right, that alone is enough proof for it not being real.
What comes to keeping OneCoins blockchains secret.
Once again, if I have understood right, the whole point with cryptocurrency is that they have created some such formula that makes it foolproof.
Now how does that work in practice, I dont understand, but the idea is that somehow those formulas always create only limited number of coins (just like OneCoin says to be doing too), and it is based upon that formula not being able to do more.
So idea is not that someone is deciding that you get x amount of coins and next one gets y amount of coins and then someone keeps book of them, and some evil minded person might be able to erase some of the coins from x and y, or someone could create them from nowhere.
It is that cryptoformula somehow that makes the whole thing safe, that you cant manipulate it, and the whole point is that because you can see that whole blockchain and the formula, that you can verufy that is it “unbreakable”.
With OneCoin not showing, they are doing exactly the opposite, they are no proving that their OneCoin is “unbreakable”, but instead they leave it upon a guess.
In old times when you saw a coin and you could test that it indeed was made of Gold, you would know it is valuable. Similarly when you see the code, you know it is valuable, that only that certain amount of coins can come out of it, and they are “unbreakable” and secure.
You cant trust OneCoin to be secure, when they dont show it to you.
What comes to investigations. I am telling this onl from the Finnish Bureaus part, as I am a Finn.
The investigation they did, was only very light one. They had no authority to do it anymore indepth due to legal restrictions.
No one who had made a deal with OneCoin (that would be someone who joined it) made a claim against OneCoin.
What Police in Finland would need, is for someone to make criminal charges against OneCoin that they have been hoaxed, and a proof this have happened, which would be for example that OneCoin wouldnt pay them after they have asked for their money.
Since this obviosuly havent happened, and is dead easy to avoid, just pay the sum when someone threats you with police investigation, they therefore were only able to do surficial investigation.
This includes going through the marketing material etc. and see if there is some error there.
As there were none, there wasnt anythign they could do. They for example couldnt ask for proof about Blockchain actually existing. Actually they didnt have any autrhotiry to demand OneCoin to give them anything.
But do notice what they reported in the end. Finnish Bureau said that while it cannot be said at this point wether there is something illegal or not, they gave quite hefty warning of suspicion about it, and warned people from joining it, that people joining it could commit themselves into criminal activity, and they also said they will continue to keep eye on it.
Point was that if there is a company that claims that pay me 10 USD now, and i give you BMW 10 years later, then even it is obviously a hoax, Finnish Police cant do anything until that 10 years is up and one of the clients asks for police investigation due to not having received his car.
That was also what Police basically commented, that at this point they cannot know (as they dont have legal grounds to demand) if OneCoins blockchain is legit or not.
All they were able to look was that when they saw their website, they could see that OneCoin is promoting educational packages which also give those tokens.
So strictly legally speaking, they werent doing anything illegal that could be proven at this point with the authority they had to investigate yet. But it was clear from the statement, that they do believe there will come a day when they have enough authority to investigate it further and they believe it likely they will find something illegal.
The simple answer is “no”.
MLM business requires roughly 40% margin to pay all the multilevel commissions and other overhead. If item cost X to produce, you need to sell it for 1.4X at retail to afford to pay such commissions.
Where do you get the 40% margin as a cryptocurrency? You don’t.
Let’s face it… Is there such a thing as “Bitcoin business”? There answer is other than mining, there isn’t.
There are businesses USING Bitcoin, but they are not bitcoin businesses. Same with the other major altcoins like Litecoin, Dogecoin, etc.
And if you want to talk about mining, and investment in such operations, you are talking about a literal INVESTMENT, and that brings down the SEC, and we’re no longer talking about MLM.
When you cut away all the bull**** about OneCoin, what do you get? You give them real money, they give you OneCoins with promise that OneCoin will be worth something some day.
That’s an investment, and that’s breaking laws in just about every country with regulated economy.
All the talk about blockchain and such? OneCoin is the EXACT OPPOSITE of what a cryptocurrency should be.
A cryptocurrency is supposed to be easily audited, anonymous, and distributed. OneCoin is completely private, EVERYTHING is controlled through accounts, and ONLY through OneCoin’s own server(s).
Not only MLM is not good for cryptocurrency, OneCoin is not even a cryptocurrency, but its antithesis.
Face the truth. You’ve been played.
@Mike
You’re comparing a Ponzi scheme with a legitimate business model. It’s not about which one is better.
One is fraud and there is no justification for that.
As for nobody knowing OneCoin is a Ponzi scheme. OneCoin is not how legitimate cryptocurrency works.
And no legitimate third-party merchant will accept a Ponzi points backed by investors just looking to earn money.
In addition to collapsing under its own weight, this is the Achilles’ Heel of Ponzi cryptocurencies.
thank you for your Detailed answers…. i See clearer now…
@Mike & @K.Chang – and to the point that Onecoin controls EVERYTHING, see:
Chris Stone: the FIRST widely publicized and known time that Ruja Ignatova has stolen Onecoin/ money from an affiliate:
behindmlm.com/companies/onecoin/onecoin-steal-almost-200000-from-affiliate/
Imran Shah: the SECOND widely publicized and known time that Ruja Ignatova has stolen Onecoin/ money from an affiliate:
youtube.com/watch?v=8C9WbHbHc8M
J. Ryan Conley: The THIRD widely publicized and known time that Ruja Ignatova has stolen Onecoin/ money from an affiliate:
youtube.com/watch?v=eJI-wz90fGs
Matei Alexandru: THE FOURTH widely publicized and known time that Ruja Ignatova has stolen Onecoin/ money from an affiliate:
youtube.com/watch?v=bmPUqzKtCpM
There are now DOZENS of reports of OC Members having their accounts frozen!
Is this how YOU believe a digital money should work!? Wherein you must not only be nice to, but agree with and not complain about whatever socialist agenda this pseudo-cryptocurrency scam is trying to hijack!?
In Onecoin, no one holds custody of their own (alleged) coins. THIS is exactly the reason why cryptocurrency was created to be DECENTRALIZED.
Decentralized and distributed cryptocurrency technologies are by nature “trustless” systems (meaning that you do NOT have a trust any individuals).
Determination is solved by math and there is no single point of failure. Furthermore, the fact that digital currencies OTHER THAN Onecoin possess an actual blockchain means that all transactions are recorded in real-time, in an immutable public ledger which can never be manipulated, faked or changed.
There are just SOOOO MANY things wrong with Onecoin, which Onecoin crypto kindergartner members simply have no clue about – universal Principles of Economics being a big one, as well. Onecoin literally fails on every front!
Ari Widdel just came out with another SCATHING review of Onecoin’s recent scamference/ scamvention in Mexico City this week, pointing out the evidence demonstrating that this has indeed transcended the ranks of any simple ponzi/ pyramid scam and has truly metamorphosized into a bonified CULT. Scary!
kusetukset.blogspot.com/2016/09/onecoinonelife-stealing-pesos-in-mexico.html?m=1
Kevin Foster (one of my favorite ponzi pumpers) posted this OneCoin – OneLife ad on his Facebook page today:
“54 mins ·
Trust in the banking system is equivalent to financial suicide! Break free you no longer need a bank to store your money safely. #BlockchainTechnologies #TheNewCurrency #ACultureOfFreedom”
BREAK FREE? WTF is he talking about? Does anybody actually buy the BS he is shoveling?
Yeah, right Kevin. You have the solution to everyone’s financial problems. Just send your hard-earned money to a convicted felon in Bulgaria – – so Kevin Foster can get his 10% right off the top 🙂
It’s time for the regulators here in the USA to shut them down and hold these ponzi pumpers accountable for promoting it.
Hey Kevin, do you tell your victims that OneCoin – OneLife IS NOT EVEN REGISTERED to do business here in the USA?
Lets not forget Tom McMurrain who is probably much bigger OneCoin name in US.
He arranges OneCoin webinars quite often, at least every Tuesday: youtube.com/watch?v=WsBn5sP5bgU
Ken Labine was ranting few days ago on his Facebook page that OneCoin is not a cult!!
Well, there is today a new newspaper article in finnish newspaper Ilkka, where a woman infact describes the atmospehere of the Onecoin event she attended, as “religious”.
The article is describing one woman’s experiences when her friends tried to persuade her to join OneCoin and their trip to OneCoin event in Tampere Finland earlier this month, 4th of September, where Kari Wahlroos and Tommi Vuorinen were talking.
There is not really much new information in the article, but the woman’s experiences are quite interesting..
The article is behind a paywall, so there is a screenshot of the article below also.
ilkka.fi/arki-ja-el%C3%A4m%C3%A4/lapset-ja-nuoret/onecoin-poikkeaa-muista-virtuaalivaluutoista-1.2124072
d17oy1vhnax1f7.cloudfront.net/items/3J0P3F3U0H0F2p0N0A3Z/Ilkka_OneCoin_uutinen.jpg
I will translate some sentences.
TRANSLATION: There was a quite strange, religious atmosphere. It was not allowed to question the claims, she says.
TRANSLATION: The woman tells that she was wondering aloud, how is it possible, that this kind of ingenious currency wasn’t invented before, and why the media doesn’t talk about it.
-We were answered, that the others are so stupid and the media lies. All the answers were at this level, the woman says.
Regardless of this, the audience was laughing and clapping hands when Wahlroos and Vuorinen were talking. She thought that most of the people believed, when they (Wahlroos and Vuorinen) told that Onecoin will replace the other virtual currencies in the future.
TRANSLATION: The woman says that she was not anymore welcome to the follow-up seminar where it was possible to become a member, because of the questions she asked. She doesn’t want her name to be shown, because she doesn’t want any trouble for her friends who are members in the network.
Also in the article Tommi Vuorinen, the OneCoin “country manager of Finland”, told the newspaper he doesn’t give interviews any more.
And the old news is mentioned that OneCoin and Mastercard co-operation was interrupted.
ken labine is on a recruitment rampage in canada, and accordingly he is enjoying the fact that onecoin has a fake value set at approx $7.
if onecoin was listed on a cryptocurrency exchange its value would be in pennies, and there would be no buyers for his expensive packages which contain ‘free’ tokens.
no wonder that ken labine and lea oshea, who are top recruiters of onecoin, Hope that onecoin stays ‘private’ [ie fake] forever.
Does the irony of this sentence truly escape him?
Ruja Ignatova is hardly a pauper.
I think this is probably as close to being honest as these two get.
They are safe in their current Onecoin LaLaLand, with reality controlled for them by the Ignatova mafia and ponzi points rolling in.
Even people of their limited intelligence realise that entry into the Real World is impossible for Onecoin. This is why the “cult” tag is appropriate, they expect a literal miracle from their Leader.
I’m curious as to how October 1st will be spun, can’t wait to see the new blockchain. lol.
I was thinking the same thing.
Millionaires are controlling the “price” of OC and they don’t even pretend to make it fluctuate up and down as the real world would dictate.
Of course, since it can’t be used for anything, she could make it worth $1M per coin and it would have the same purchasing power as it currently does.
Just saw on Jason Richard Mangan’s fb a Mexican paper they claim says OneCoin is legal in Mexico. Anyone else see this?
Sebastian Greenwood — “If you sleep you die! If you sleep you die. Who wants to die in this room? When people say that Jesus Christ walked over water, I walked over fire but didn’t die! I’m still here! – For you.”
– Mmkay? What did I say about a crazy televangelist.
@SMH – RE; “…they claim says OneCoin is legal in Mexico.”
and it’s funny that a Onecoiner should mention this because I thought OneCon was legal in 243 countries! Lol.
Btw: this was a flash back and just came to my recollection that Jason Mangon Richard, who has now blocked me on FB, is the first person who tried to introduce me to OneCoin in March or April of last year. Lol. Thanks for the reminder 🙂
@EVERYONE – anyone recall the name of the agency in Germany which has additionally been assigned to investigate OneCoin, who specifically deal with “cults.” might be interesting to get a statement from them.
@Tim T
BaFin are investigating OC:
bafin.de/EN/Homepage/homepage_node.html
Government regulators don’t approve businesses, they only regulate them.
If such a document exists its probably another paid legal opinion that ignores reality.
Another thing that crypto-kindergartner victim Onecoiners have been saying much more often is that “Bitcoin is a dinosaur/ old technology/ like MySpace,” etc.
To any Onecoiners in this category, please search online and learn about who have been and are the core Bitcoin developers. And try telling us with a straight face how “old and archaic” these continuing Bitcoin features and developments are:
Look up (ie., Google):
1.) bitcoin “lightning network”
2.) bitcoin “segregated witness”
3.) bitcoin “side chains”
4.) bitcoin “mimblewimble”
5.) bitcoin “thunder”
6.) bitcoin “colored coin”
7.) bitcoin “cold storage”
8.) bitcoin “BIP/ BIPS”
9.) bitcoin “drivechain”
10.) bitcoin “SNARK” (AKA: CoinWitness)
11.) bitcoin “multi-signature”
…………………ad nauseum.
Take every scam MLM coin out there: Onecoin, YoCoin, WowCoin, Koinye, TBC, Swiscoin, Swisscoin, sCoin, Fusioncoin, etc., etc., collect the published names of their Developers and CTO’s, then multiply that # of alleged tech people by …oh …say about 1,000’s and this will more accurately depict the number of ACTUAL computer scientists, Developers, Programmers, Coders and Technologists who have been and continue to be working on Bitcoin core on an ongoing basis.
Saying that “Bitcoin is a dinosaur/ old/ archaic tech, etc.,” is LITERALLY as ignorant and idiotic as stating,
This is literally how stupid these MLM cryptocurrency scam claims are!!!
If you are still falling victim to these scammers, maybe you should just take yourselves out of the breeding pool now.
Regards that Mexican newspaper supposed endorsement… it looks very much like yet another paid for advertisement to me.
the Coin telegraph reported on 14th sept, 2016, that the swedish bitcoin foundation has issued a warning against bitcoin:
cointelegraph.com/news/one-coin-much-scam-swedish-bitcoin-foundation-issues-warning-against-onecoin
An unfortunate blog by one William Morrow – “Motivational Speaker, Blogger, Entrepreneur, Freelance Writer” entitled, “Here’s What You Need To Know About Cryptocurrency” contains a section called The Emergence of Alt-Coins, mentions Onecoin, stating (innaccurately) that, “Onecoin not only allows trading in altcoins, but they also offer extensive training in their altcoins as well as offering several options for using the Onecoin.”
It goes on to also falsely state:
READ MORE: huffingtonpost.com/william-morrow/heres-what-you-need-to-kn_b_12014434.html
So, first of all, someone who obviously knows nothing about cryptocurrency writes an article about what (readers) need to know about it, and then demolishes any credibility even he thought he had.
I’ve emailed Huff as well as Tweeting and messaging Mr. Morrow, but have not yet received any response.
I also, obviously, commented on the story listing the reasons why it is fundamentally incorrect and is, in fact, a Ponzi scam. IF ANYONE ELSE CARES TO COMMENT (and/ or “like” my comment), PLEASE DO.
“We don’t promise anything” -Ken Labine
Oh yeah?
i.imgsafe.org/fe19236f8d.jpg
No it didn’t say it’s legal in Mexico.
The topic in the paper says “OneCoin LLEGA A Mexico”, which means OneCoin arrives in Mexico.
Here’s what was presented as a copy of the Mexico newspaper story about OneCoin:
imgur.com/a/tJblU
It simply screams “full page purchased advertisement” with nothing in the way of independent journalism or editorial.
Seems like an ad yeah.
And this is how Ken Labine presents it:
i.imgsafe.org/0219459788.jpg
I just revisited the HuffPost blog by William Morrow, who has DELETED my comment (1 of 2) outlining the onecoin fraud and history of deception, lies and founders/ leaders fraud and ponzi history.
huffingtonpost.com/william-morrow/heres-what-you-need-to-kn_b_12014434.html
So, again, a little help on the comments would be helpful at this point. HuffPost has not responded yet to my communications notifying them of the circumstances.
@TimTayshun
Doubt it will get you anywhere. It’s most likely an article that’s paid for.
The guy works for a Nigerian “link building” agency.
If you click his HP author profile huffingtonpost.com/author/william-morrow it redirects you to the profile for the CEO of the agency.
Under the summary of the CEOs articles is one titled “The Ins and Outs of Network Marketing” which includes mention of Sebastian Greenwood as a success story in NM.
That leads me to believe that those articles may just be some paid for content marketing/link building pieces.
Ken Labine just published this :
One nation Uk , has nothing to do with Onelife or Onecoin , so again this lunatic is misleading his sheep's .
Here is their web site: onenationuk.org/ , and you can see that this organization has nothing in common with onecoin or onelife.
You can report this at their official mail: info(at)onenationuk.org
there are now NO comments on that article by morrow, so it seems he has deleted both your comments.
i wouldn’t be surprised if morrow was an investor in one coin.
huffington post is a US news portal, is morrow aware that onecoin is illegal in the US?
the fact that critical comments are being removed clearly indicates that it is either a paid for fluff piece, or that morrow has a vested interest by being an investor in onecoin.
So… OneCult Nation is exulting joy with this pseudo-clearence of Polish Authorities about OneCult not being a SCAM:
sejm.gov.pl/Sejm8.nsf/InterpelacjaTresc.xsp?key=70AA9084
It’s just me, or there is no clearence at all here? :-S
An investigation into OneCoin is ongoing as per that letter.
Also what is the status of a Ponzi scheme under the quoted Polish banking law? OneCoin doesn’t appear to have any banking operations in Poland, so it’s plausible it doesn’t fall under Polish Banking Law.
Operation of a Ponzi scheme is a consumer protection issue though, hence the ongoing investigation.
Nobody in EU seems to know how to deal with a cryptocurrency Ponzi scheme.
Of course not.. The last sentence clearly states that there is still an ongoing investigaton:
(from google translate)
People are so stupid that they even not bother to put the polish text into a translator..
From what I can tell there is no finding; which is to say that no action will be taken, which is to say that Onecoin will continue on as before….which is good news for the current participants.
With all the attention that this scam has garnered, and considering how openly it operates I’ll speculate that the protection afforded by organized crime accounts for its longevity.
In Bulgaria “Organized crime influences all state institutions, including the government, parliament and judiciary, organized criminals donate to all the major political parties, they “own” municipalities and individual members of parliament, controlling municipal councils and mayors.
Bulgarian governments have done little to reduce the presence of organized crime, despite domestic efforts and U.S. and EU pressure to combat it.” – Wikipedia
Except: OneCoin Terms and Conditions (as of 09/18/16):
Ha Good Joke. I hereby agree that I will not claim that a government agency of Mafia controlled Bulgaria has endorsed, approved, or supported the taking of my money. Glad they got that in writing.
Tim I just checked and your comment is still there, click on sort by oldest to see it.
BUT… Hey! My comment has been deleted. It was number 2, now there is another at number 2.
Obviously a problem with comments on huffingtonpost.com
After I refreshed the page number of comments went from 2 to 3 and mine is back as number 2.
Interesting, according to the following , the author on Huffington article is dead 🙂
nolink://msfs.georgetown.edu/MorrowWillisTribute
You can ask him questions and send flowers to his grave here:
bfm.familyfed.org/in-memoriam/in-memory-of-morrow-willis/
omg! Just SMH
Jason Richard Mangan’s post
You know every time we send euros in our Onelife back office its a bankless transaction as well. Some people do not get the power behind that feature as well.
I’m living a prosperous life outside of central banks
we’re conducting an entire economy. Selling Education. Transferring money. Earning commissions. No bank involved.
Ken Labine is celebrating the Huffington Post’s blog in his Facebook page. This is hilarious.
@NikSam – WTF!?! That’s definitely him! Maybe he’s just a ghost writer These days :/
Meet the real author of that blog entry in HuffingtonPost public blog section: Segun Onibalusi from Nigeria.
Who took a picture of a deceased in 2015 person (Morrow Willis) , renamed it to William Morrow and passed it as his identity.
about.me/naniboy4life
Different name
OneCoin has a new European bank account. This time from Italy.
Of course the account holder is some new name again, lol.
Sounds really legit business.
From OC-Team Deutschland Facebook:
Europäische Bank ab sofort wieder verfügbar!
Account holder: EDUCAMAX SERVICES SRL
Address: via Annunciata 23/4; Milano; Italy
Bank name: Banka Monte Dei Paschi Di Siena
Bank address: Piazza Cavour, 1; Milano; Italy
IBAN: IT40B0103001661000001476052
SWIFT: PASCITM1645
How do you know this?
Do i have to spell it out again ? It is a picture of a real deceased guy whose name is Morrow Willis.
The poster took his picture and calls himself William Morrow with it.
So Nigerian scammer creates fake profile account using dead guy’s name to promote OneCoin.
Oh dear. Article up within the hour…
It sounds like the Anti-money laundering (AML) protocols are kicking in. Next stop Dubai?
Did you try clicking on the William Morrow name on Huffington Post site ??? yep, his profile history still shows his real name before he renamed it:). And on all Morrow accounts (twitter, linkedin etc..) all emails link to that Segun 🙂
Lol, Boughey ranting that Tim is mental:
i.imgsafe.org/1bf7505c64.png
I really hope these guys Labine and Boughey get all the possible shit on them when this fraud is over. No mercy.
I just did. Pretty low rent. I thought Huffington had some integrity. Apparently not.
Do not confuse HuffingtonPost with its blog section, where about anyone with dedication can get his own blog (or sometimes just reposting someone else articles pretending theya yours)
Actually I am surprised that such post on those blogs generates so much attention on both sides of the barricades. There are plenty other crap people post
Have you seen on fiverr offers to mention your company on major online news site for $.
Well, thats what people like Segun are in market for.
It’s almost too bad this nigerian scammer making this Huffington Post blog was revealed already. 😀
Only total idiot Labine posted it on his Facebook. Would have been fun if more of the onecoin idiots would have posted it first before revealing that the blog is by nigerian scammer who made a fake identity using dead guy’s picture.
This so so f typical OneCoin. And Labine celebrating the blog.
It’s pretty hard to find a more idiot and stupid guy than Ken Labine. Another fail. LOL
Not the exact name. Notice that the dead guy’s name is Morrow Willis, and the fake identity promoting OneCoin (created by nigerian scammer Segun Onibalusi) name is William Morrow.
huffingtonpost.com/author/william-morrow
Well I was/am confused about it. I will look closer. Thanks
haha, good one!
lets see how labine wriggles out of this!
o well, now i’ll have to sit and write to this italian bank!
who else is writing to them?
What call my attention it is that there are about 700 crypto currency in the world and no one so far told about them or critisazed them. But Onecoin looks to disturb the system. It is like a threat.
I might be wrong given credit to Onecoin, but at the same time knowing that Onecoin people have established to take Onecoin to the NY Stock exchange in 2018 it might make some people irritaded.
OneCoin is currently the biggest MLM Ponzi points scheme out there. Like Zeek Rewards and TelexFree before it, it’s going to cop the bulk of attention until it’s shut down or collapses.
As for the rest of the MLM cryptocurrency scams, you’ll find BehindMLM reviews on them via search.
Note that OneCoin isn’t a cryptocurrency, so comparing it to the other “700 crypto currency in the world” is pointless.
Evidently all you know is what your upline told you.
Spoiler alert: Your upline is full of shit.