Thursday, 31 March 2016

OneCoin's funeral coming soon

The Finnish country manager Tommi Vuorinen has promised that there will be shops accepting onecoins as payment during April - in fact there should be 50.000 shops already lined up to accept onecoins by the summer according to Vuorinen. This would mean that the value of onecoins would be determined in a free market for the first time in OneCoin's history. Any merchant willing to accept onecoins should then decide in what price would a transaction be acceptable for a commodity. Anyhow there are still two major buts to crack:

1. There's still no way to move coins from a member's account to a shop's account. Therefore transactions would not be possible in the first place. Maybe someone in OneCoin forgot this minor detail?

2. The fact that onecoins' value would be determined by merchants would of course be the final death blow for OneCoin. The coins have only an imaginary value set by almighty Ruja. Once in an open market the coins have no value what so ever. It's a known fact that OneCoin members have been trying to get rid of onecoins eagerly with very poor success. There have even been several members desperately trying to sell their accounts with highly reduced prices. These are the coins that would be used to buy stuff? Really? Opening stores accepting onecoins would be a huge thing. Yet there are no signs of this revolutionizing new cryptocurrency to emerge soon.

Here's an example from OneCoin's Facebook page. A member desperately trying to sell an account he claims to be his friend's:

Surprisingly he is not at all interested buying the account himself. One might think that even taking a bank loan of 2000 euros should be tempting for a such lucrative offer in case of shortage of money to invest.

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