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Thursday, 17 November 2016

OneCoin - The members living in denial




After OneCoin lost all of the bank accounts it had via its shell companies, the inevitable consequence was that the lousy working exchange they had became even worse. In fact it might be that nobody is able to sell their coins anymore. Before the collapse there was at least a fraction of the sales executed with the cash flow OneCoin sucked from its continuous flow of new victims. Now OneCoin has no funds to keep the exchange going and the members are clearly getting agitated.

Earlier things were different. From all the commissions to the members 40 % went to mandatory coin purchasing which kept the exchange alive. - Well, barely but at least it was enough to give the members an illusion of a lousy working trading platform. 

However it doesn't matter how obvious the things are, some of the members just don't seem to get it. They are dismayed by the situation and flocking the Facebook page of OneCoin/OneLife asking why their sale orders keep on pending and expiring.

The North Korean style censorship of OneCoin's Facebook page doesn't seem to cope with the amount of messages coming in there. Here's a glimpse of them:


I decided to black out the names - at least some of them might just be pure victims of this ponzi.

Update 17 November: And now all those comments have been deleted, so maybe there's still someone working at the Sofia office.


Interesting visitors in my blog statistics


After announcing the time of death of OneCoin in Monday, the traffic to my blog peaked. - Now I know that I have to calm down onecoiners reading this: No, it doesn't mean that the increased traffic shows in my wallet. As I have said before, I'm not doing this for money. So far I have earned 0 euros from writing this blog.

During the last couple of months there has been several banks among the visitors. Lately I have also spotted some authorities referring to financial/banking regulation. As banks have been more and more alerted, so has OneCoin been struggling more and more with frozen bank accounts.

Some of the visits I'd better keep to myself. I wouldn't like to spoil any surprises that might be on their way.

But is it still at least a walker?


OneCoin's run ended, but is it still going to be at least a walker? Although the ponzi seems to have given up with banks, some of the top scammers might try to figure out alternative ways to keep their business blooming. 

It has been rumored that an elite group of onecoiners would be given permission to gather ponzi money to bank accounts that are either hold by them personally or maybe just kept as a secret from a larger audience to prevent the problem of freezing accounts. Either way I'm sure it wouldn't be even remotely efficient enough to keep this ponzi rolling or even limping.

Meanwhile the members of the ponzi are getting frustrated. Many of them were eagerly expecting October to sell their magically doubled possessions. Now, after delay after delay and much of anticipation, they have to face the fact that all the coins are worthless.

39 comments:

  1. Small typo in your edit, I don't know what date the fb comments where removed, but I'm pretty ure it wasn't on the 27th of november... :P

    ReplyDelete
    Replies
    1. Thanks! Correction made.

      This blog post was made 2:00 am 17th November just before I went to sleep. OneCoin censored the comments later same day.

      Delete
  2. Remove all the adds you fire in this blog and i / we will beleive you do not earn any money from onecoin buzz!!!

    ReplyDelete
    Replies
    1. Like I have posted before, Google AdSense doesn't pay a dime until a payment threshold of 70 euros is reached. So far I have earnings of 30 euros in my AdSense account. In fact that's a bit like owning onecoins - I just have to keep hoping that I my AdSense-coins would have an actual value and usability in the future.

      However, now that OneCoin ponzi-pyramid has collapsed, reaching that threshold seems like a distant dream. Maybe my coins turn out to be as worthless as yours.

      What comes to your beliefs, I'm just astounded that you or anyone else would choose to believe someone who gets their bloodmoney from each educational package sold, rather than believing media, authorities, bloggers and common sense.

      Such convenient blindness to spot an obvious scam is just an excuse to breach the gates of morality to the side of greediness and immorality. I have no respect for anyone questioning my honesty and sincerity at this point when the truth about this ponzi should be clear to anyone even with a half wit.

      Delete
  3. Well, you are really pathetic ! Or mental maybe !
    You named your blog ‘Scam detector’ but, for mysterious reasons, this blog focuses on OneCoin only, claiming proudly that OneCoin is a scam. OneCoin is a scam ? Well, this only comes from your distorted imagination because OneCoin is obviously not a scam. Moreover, you don’t bring a single evidence of what you’re claiming.
    Thus, based exclusively on your imagination, you started a quest by dedicating your life to the fall of OneCoin, trying to convince people, banks and regulating authorities that OneCoin is a scam. What’s wrong with you ? Did you suffer during your childhood ?
    I actually wonder what is driving your motivation as an anti-OneCoin activist. Stupidity ? Jealousy ? Or maybe money ? Do you get paid by Bitcoin lovers for writing all these craps ? Or fame ? You want to be famous as the OneCoin killer so that you feel important ?
    So much blindness and so many lies about OneCoin cannot occur without having something in the back of your mind. You must have a secret goal. And to achieve your goal, you even contacted banks and regulating authorities ? You should be arrested by police and go to jail for propagating false informations. But I bet you didn’t give your real name since guys like you hide like rats.
    Another possibility is that you are sincere but just unable to discriminate real scams from genuine opportunities. As soon as you see a pyramid-scheme, for you it’s a scam. Since OneCoin has a reward system based on a pyramid-scheme, then in your mind OneCoin is a scam. If so, you’re an idiot. And I wonder anyway why you’re focusing on OneCoin specifically.

    By the way, you describe OneCoin as a Ponzi. But, by definition, a Ponzi is not a pyramid. In a Ponzi-scheme, the scammer recruits all his/her victims directly (e.g. Madoff story). The scammer and the victims are in a circular-scheme with the scammer in the middle. This is not the case in OneCoin/OneLife’s reward system since it is a pyramid organization. As far as I know, a pyramid is not a circle ! So either you’re a liar, or you don’t know what you’re talking about, or both. Actually, you just want to stick the Ponzi flag on OneCoin’s image so that people believe it’s a scam. Moreover, this is how you labeled your article : « OneCoin, OneLife, ponzi ».What a liar you are ! And anyway, if OneCoin was a Ponzi-scheme, why then regulating authorities didn’t stop it ?
    End of Part 1

    ReplyDelete
    Replies
    1. "You named your blog ‘Scam detector’ but, for mysterious reasons, this blog focuses on OneCoin only, claiming proudly that OneCoin is a scam. OneCoin is a scam ? Well, this only comes from your distorted imagination because OneCoin is obviously not a scam. Moreover, you don’t bring a single evidence of what you’re claiming."

      - Well I had to choose a name for the blog. I focused on OneCoin because it started in Finland, has a lot of Finnish victims and also Finnish scammers involved. My blog contains evidence of OneCoin being a ponzi-pyramid from the day I started posting about this.

      "Thus, based exclusively on your imagination, you started a quest by dedicating your life to the fall of OneCoin, trying to convince people, banks and regulating authorities that OneCoin is a scam. What’s wrong with you ? Did you suffer during your childhood ?"

      - By the looks of it I guess my childhood wasn't any worse than the people in banks and regulating authorities had.

      "I actually wonder what is driving your motivation as an anti-OneCoin activist. Stupidity ? Jealousy ? Or maybe money ? Do you get paid by Bitcoin lovers for writing all these craps ? Or fame ? You want to be famous as the OneCoin killer so that you feel important ?"

      - I get my strength from the tears of scammers. As I have said before, I'm not involved in Bitcoin in any ways. And I'm not after fame. I thought that you onecoiners didn't like anonymous bloggers.

      "So much blindness and so many lies about OneCoin cannot occur without having something in the back of your mind. You must have a secret goal. And to achieve your goal, you even contacted banks and regulating authorities ? You should be arrested by police and go to jail for propagating false informations. But I bet you didn’t give your real name since guys like you hide like rats."

      - I have no secret goals, I just hate scams and scammers.

      I don't operate anonymously with police and authorities. If the information I gave was false, why were all the bank accounts frozen? And you honestly think that one person could cause several bank accounts to be frozen of an international multi billion dollar company who is perfectly legitimate? You think they just obeyed my orders?

      "Another possibility is that you are sincere but just unable to discriminate real scams from genuine opportunities. As soon as you see a pyramid-scheme, for you it’s a scam. Since OneCoin has a reward system based on a pyramid-scheme, then in your mind OneCoin is a scam. If so, you’re an idiot. And I wonder anyway why you’re focusing on OneCoin specifically."

      - Well, you said it yourself, OneCoin has a reward system based on a pyramid-scheme. But don't forget the ponzi part of the business!

      I know plenty about OneCoin because it has a lot of Finnish people involved. Why not to share my information and prevent a lot of people losing their money into this scheme.

      "By the way, you describe OneCoin as a Ponzi. But, by definition, a Ponzi is not a pyramid. In a Ponzi-scheme, the scammer recruits all his/her victims directly (e.g. Madoff story). The scammer and the victims are in a circular-scheme with the scammer in the middle. This is not the case in OneCoin/OneLife’s reward system since it is a pyramid organization. As far as I know, a pyramid is not a circle ! So either you’re a liar, or you don’t know what you’re talking about, or both. Actually, you just want to stick the Ponzi flag on OneCoin’s image so that people believe it’s a scam. Moreover, this is how you labeled your article : « OneCoin, OneLife, ponzi ».What a liar you are !"

      - As I have said many times, OneCoin is a ponzi-pyramid-scheme. It is a fraudulent investment operation build on a pyramid scheme.

      "And anyway, if OneCoin was a Ponzi-scheme, why then regulating authorities didn’t stop it ?"

      - Well, judging by the amount of bank account OneCoin has, I think the authorities have done a pretty swell job.

      Delete
    2. "By the way, you describe OneCoin as a Ponzi. But, by definition, a Ponzi is not a pyramid. In a Ponzi-scheme, the scammer recruits all his/her victims directly (e.g. Madoff story)."

      Check the definition of Ponzi scheme on wiki: https://en.wikipedia.org/wiki/Ponzi_scheme
      "A Ponzi scheme also a Ponzi game) is a fraudulent investment operation where the operator, an individual or organization, pays returns to its investors from new capital paid to the operators by new investors, rather than from profit earned through legitimate sources. Operators of Ponzi schemes usually entice new investors by offering higher returns than other investments, in the form of short-term returns that are either abnormally high or unusually consistent.".

      This definition perfectly matches with the OneLife / OneCoin business model. High-ranked IMA's can get filthy rich because of the lucrative Compensation Plan. Formally the company sells educational packages, which are almost worthless because the information in those PDFs is available for free on the internet.

      The Ponzis in the lower ranks of the pyramid are lured in because of promises on the development of the OneCoin value, combined with magical doubling of coins, splits and supersplits.

      In 2018 they "plan" to go public, which is a blatant lie because there is no blockchain which can be distributed, they only have a central database.

      Multiply the number of mined coins by the OneCoin "value" in 2018, predicted by Dr Ruja and you will get a market capitalization of 1,4 trillion USD. Everybody who believes such nonsense is insane.

      Delete
    3. Read the Wikipedia page until the end :
      “A pyramid scheme is a form of fraud similar in some ways to a Ponzi scheme, relying as it does on a mistaken belief in a nonexistent financial reality, including the hope of an extremely high rate of return. However, several characteristics distinguish these schemes from Ponzi schemes :
      In a Ponzi scheme, the schemer acts as a ‘hub’ for the victims, interacting with all of them directly. In a pyramid scheme, those who recruit additional participants benefit directly (in fact, failure to recruit typically means no investment return).”

      Also : http://www.investopedia.com/ask/answers/09/ponzi-vs-pyramid.asp

      OneCoin is NOT a Ponzi. And it’s not a fraudulent pyramid-scheme because it does not promise extremely high return and also because the reward system is sustainable for ever.

      “In 2018 they "plan" to go public, which is a blatant lie because there is no blockchain which can be distributed, they only have a central database.”

      Any evidence ?

      “Multiply the number of mined coins by the OneCoin "value" in 2018, predicted by Dr Ruja and you will get a market capitalization of 1,4 trillion USD. Everybody who believes such nonsense is insane.”

      You already know the value and the number of OneCoins that will have been mined in 2018 ? And anyway, why would a market capitalization of 1.4 trillion USD be impossible ?

      Delete
  4. I see that you deleted the second part of my comment in which I was demonstrating that OneCoin is not a scam. You cannot provide better evidence that you’re a liar.

    ReplyDelete
    Replies
    1. I have not edited your comments.

      Delete
    2. My guess is that you accidently clicked "add comment" instead of the "publish" button. Done that myself once.

      Delete
    3. I managed to salvage your lost comment:

      "Posted by Anonymous to Scam Detector at 18 November 2016 at 21:49

      Part 2
      Besides Ponzi-scheme, there are fraudulent pyramid-schemes which have several characteristics. First, to enter the pyramid you need to be recruited by someone already inside the pyramid. This is not the case in OneCoin/OneLife’s scheme : anyone can join and you don’t have to be part of any pyramid if you don’t want to. That’s why even an idiot like you has a OneCoin/OneLife account. And that is why the other idiots from BehindMLM also all have a OneCoin/OneLife account.
      Second characterisitic, in fraudulent pyramid-schemes, earnings come exclusively from recruitments. This is not the case in OneCoin/OneLife since you can also earn money by selling your coins to other members. And again, you don’t have to recruit people if you don’t want to. Moreover, 80% of people join OneCoin/OneLife without the intention of recruiting anyone. Their only will is to invest in cryptocurrency and wait, sometimes sell. Having a reward for recruiting people is just a bonus and there’s nothing fraudulent in that.
      Third and most important characteristic, fraudulent pyramid-schemes promise a high return which is actually not sustainable for the pyramid. With time, the pyramid collapses. This is not the case with OneCoin/OneLife. Indeed, commissions in OneCoin/OneLife’s pyramidal reward system are perfectly balanced so that it will never collapse. I made calculations by myself in stress conditions for the pyramid (while you obviously did not !) and I can tell you that the pyramid will never collapse (the money imported into the pyramid is always higher than the bonuses to be paid, whatever the situation, whatever the number of levels). The pyramid is sustainable for ever, it’s impossible to collapse and you better stick that in your head unless you want to live in denial. Since the pyramid will never collapse, there won’t be any victims. No victims consequently means that OneCoin is not a scam. What do you have to say about that ? I guess nothing so shut it once for all.

      Actually, the only reason why OneCoin could be a scam is not at all because of its pyramid-based reward system, which is perfectly legal and sustainable. Instead, it would be because there are actually no coins, meaning that there is no blockchain. In this case, OneCoin would indeed be a scam because people would invest in nothing. However, since monthly audits about the blockchain have been performed by 2 different successive companies (Semper Fortis and S-Systems), it is clear that the blockchain exists and that we trully have OneCoins.
      Since you have a OneLife account, you can download the audit reports from your backoffice and make some comments. I would love to read that. In addition, why don’t you contact the audit companies and publish the result of your conversation on your blog ?
      www.semperfortis.bg (email : office@semperfortis.bg)
      www.s-sys.eu (email : audit@s-sys.eu)
      Most importantly, why didn’t you do it before ? Before claiming that OneCoin is a scam. I know the answer : because you are a liar.

      So let me tell you that you’re going to lose your silly quest. OneCoin will not collapse as you wish, simply because it’s not a scam and because the pyramid-based reward system is perfectly balanced. I reckon you are realizing you’re progressively losing and you’re scared. You’re shitting in your pants because OneCoin is raising and raising while it doesn’t fit with your secret goal. So you’re trying everything you can by even contacting banks and authorities. You’re pathetic. But at least, thanks to you and the other dozen of OneCoin haters from BehindMLM, the OneCoin company is becoming better, by consolidating the small weaknesses it had, which allows the recruitment of new members. Thanks ! You are all useful idiots. You guys are perfect. And the raise of OneCoin is only starting. It’s just the beginning… Mwah ah ah !!!

      Delete
    4. "First, to enter the pyramid you need to be recruited by someone already inside the pyramid. This is not the case in OneCoin/OneLife’s scheme"

      - Well, at the time I set up my free rookie account, I couldn't find any other way than using someone's affiliate link to join. Despite the fact that nowadays it's possible to join without an affiliate link, the only way to make money in OneCoin is to lure as much people as possible into one's downlines. Not knowing whether there's someone above you or the money is going straight to Ruja's purse doesn't make it less pyramid scheme, as the earning mechanism is based on pyramid scam with a fraudulent investment scheme.

      "you can also earn money by selling your coins to other members."

      - Nope. OneCoin's exchange has always been a joke, "just a training platform" and not a real exchange like Kari Wahlroos has pointed out. Now it's even worse on xcoinx.com. Haven't you noticed that no one complains about having troubles buying coins? They all complain about not being able to sell their possessions. This happens simply because there are no buyers.

      "Third and most important characteristic, fraudulent pyramid-schemes promise a high return which is actually not sustainable for the pyramid. With time, the pyramid collapses."

      - In case you haven't noticed, this has just happened.

      "I made calculations by myself in stress conditions for the pyramid (while you obviously did not !) and I can tell you that the pyramid will never collapse (the money imported into the pyramid is always higher than the bonuses to be paid, whatever the situation, whatever the number of levels). The pyramid is sustainable for ever, it’s impossible to collapse and you better stick that in your head unless you want to live in denial. Since the pyramid will never collapse, there won’t be any victims."

      - I sure would like to see those calculations of yours. It's already obvious that OneCoin doesn't even have sufficient funds to inject some to the exchange and make it work even as a clumsy as it worked in onelife.eu.

      "Since you have a OneLife account, you can download the audit reports from your backoffice and make some comments."

      - Done that already. The auditing is laughable. There's nothing that anyone could get a grip on. Semper Fortis got rid of the auditing process in the early stage and buried Dian Dimitrov somewhere not to be seen erasing him from the company's key management team.

      After that OneCoin set up the auditing to S Systems Ltd which has an address leading to a crappy looking apartment block in Sofia. Audit reports are signed by someone named Atanas Lazarov. I have also tried to contact the audit firm but never got a response.

      "You’re pathetic. But at least, thanks to you and the other dozen of OneCoin haters from BehindMLM, the OneCoin company is becoming better, by consolidating the small weaknesses it had, which allows the recruitment of new members. Thanks !"

      - You're welcome. I'm always glad to help scams to get rid of their small weaknesses, such as bank accounts and whatnot.

      Delete
    5. I will answer to your reply later coz I’m pretty busy right now. In the meanwhile, since you love BehindMLM, you should read the following article :
      https://davidboozer.com/behind-mlm-great-public-service-affiliate-marketing-funnel-honest-review/

      I have to mention that I wrote a message on BehindMLM. It was a reply to a message from TimTayshun which was concluded by : « The Bitcoin killer is going to face a stark truth ».
      My message was as follows :
      « The stark truth is that none of you has a single evidence that OneCoin is a scam.
      The stark truth is that OneCoin would be a scam for a unique reason : if the blockchain didn’t exist. But it does exist so you’re all talking shit.
      The stark truth is that the OneCoin pyramid-based reward system is perfectly sustainable for ever. It’s impossible for the pyramid to collapse. But of course, none of you made the adequate calculations.
      The stark truth is that you’re just a band of idiots unable to discriminate real scams from genuine opportunities.
      The stark truth is that you’re all wasting your time with your silly quest. »

      Guess what happened ?
      The message has been awaiting moderation for 2 hours, and it was eventually deleted. So it was never published. Even more, my IP address was banned from sending messages ! This is not very democratic, is it ? What happened to the legendary sense of justice of Oz, this brave hero ?
      I used another IP and sent the message again. The same process happened again.
      I could do this for ever but my message will never be published.
      Why does Oz prevent this message to appear ? After all, I will have to face a dozen of BehindMLM hysterical commentators. What is he scared of ? Read the above article and you will understand. Oz manipulate people. He wants people to believe OneCoin is a scam for his own benefit.
      In this regard, I think you are more sincere than BehindMLM, although you use Ads. Maybe you truly believe that OneCoin is a scam. Maybe ! But still you’re wrong.

      Delete
    6. "since you love BehindMLM, you should read the following article"

      - I have no interest starting to quarrel about BehindMLM here. I haven't read all the posts in BehindMLM. The ones I have, I find to be trustworthy. Whether the site gets ad revenue from its existence is irrelevant considering that there are plenty of useful information that might prevent some people from losing their money.

      "Guess what happened ?"

      - I guess the moderator has to sleep some time. You know, there has been also MLM antagonists complaining about the lag. Whether your message was deleted or not is unclear to me, but I'd like to remind you how one of your posts got lost in my blog after you thought you sent it. Luckily I was able to salvage it from my email, because I got a notification about the post despite it was not published.

      "In this regard, I think you are more sincere than BehindMLM, although you use Ads."

      - Well, thanks, I think. I have to also point out that I have a personal interest regarding the Google AdSense, because I work in advertising. As I have told somewhere in the very beginning of this blog, I wasn't even expecting to earn a dime with this blog.

      At the moment I chose to put ads here, I didn't even know there was a 70 euros threshold to reach. All I knew was that blogging isn't a way to earn bucks by any means - unless you have at least a cleavage to show. My current earnings of 30 euros in my AdSense account are too well beyond my wildest expectations. I have also published my blog statistics every no and then revealing also my AdSense balance.

      "But still you’re wrong."

      Nope, I'm sorry to say, but I'm nothing but wrong.

      Delete
    7. I didn’t make any mistake. The message was in the queue with written : « Your message is awaiting for moderation », until it was deleted. Any other explanation than a mistake ?
      Why don’t you try yourself to send the same message to see what happens ? Your IP will be identified as pro-OneCoin and banned for further attempts to send anything on the website.

      If OneCoin was a scam, why such a censure ? OneCoin is not a scam, you are 100% wrong. If you think you’re right, prove it ! So far, you didn’t bring a single evidence. Where is the scam ?

      And yes the fact that BehindMLM generates revenues is relevant because it creates a conflict of interest (which also applies to you). The high buzz around OneCoin is a boon for Oz, a gold mine. That’s why messages like mine are not published. Oz doesn’t want any contradictor to express valuable opinions in order to maintain his religious sect with the illusion they are correct. He doesn’t care whether OneCoin is a real scam or not, he doesn’t even want to know. He doesn’t care about saving potential victims, he just wants people to visit his website in order to get money.

      By the way, why did you choose OneCoin as the unique MLM you want to fight ? There are multiple MLM in the world, so why OneCoin in particular ? Zinzino was not buzzy enough ?

      Delete
    8. "Any other explanation than a mistake ?"

      - Well, I'm not OZ nor run BehindMLM, so beats me. However, what comes to my blog, I finally discovered that your missing post was in the junk mail box waiting for to be ticked as non-spam.

      It was not my fault. There are no settings for detecting spam here. I just have to check from time to time the spam box whether there are any relevant posts there. Usually there isn't.

      "If OneCoin was a scam, why such a censure ?"

      - I'm not going to answer that on behalf of BehindMLM. However, it's funny that you brought up censorship, because OneCoin is known for it's North Korean style censorship as well as propaganda.

      "OneCoin is not a scam, you are 100% wrong. If you think you’re right, prove it ! So far, you didn’t bring a single evidence. Where is the scam ?"

      - I have provided proofs about OneCoin being a scam since February 2016.

      "And yes the fact that BehindMLM generates revenues is relevant because it creates a conflict of interest (which also applies to you)."

      - Where the hell is my conflict of interest? Do I get commissions of 10 % of each OneCoin education package sold? I don't think so.

      Maybe you should think again before bringing up such ridiculous nonsense. The only ones having a conflict of interest are the ponzi pimps marketing the scheme.

      "By the way, why did you choose OneCoin as the unique MLM you want to fight ? There are multiple MLM in the world, so why OneCoin in particular ? Zinzino was not buzzy enough ?"

      - As I have told before, I have had a lot of information about OneCoin worth spreading. I hate these kind of scams and scammers so why not to share my valuable information.

      I have been a scam antagonist in Finland for several years before starting to ruin OneCoin's scam business. If OneCoin would have stayed the hell out of Finland, I'd probably wouldn't even know about it. - OneCoin invaded my country, so I invade it everywhere.

      Zinzino's network in Finland is a struggling pyramid scam. It has been pretty much dealt with already.

      Delete
    9. OK so what's your best proof that OneCoin is a scam ?

      Delete
    10. OneCoin is like a lump of cheese that has so many holes in it that there isn't any cheese to be seen. Now you are asking, which one of those holes is the best proof.

      Well, I throw some of those holes for you to chew on:

      - The finite number of coins wasn't the finite number of coins.

      - A centralized cryptocurrency would not need a massive computing power to be created, let alone years of "mining". However, as OneCoin is a scam it claims to create its coins with excessive power consumption and years of time. This just goes beyond stupidity.

      - Market places / merchants accepting onecoins was supposed to happen already in the Spring. 1 October M.A.B. published, but still no merchants. Ruja expects onecoiners to pay something around 1 billion to have the useless M.A.B. application for 1 million merchants.

      - A converting MasterCard that never happened.

      - The director of the company providing debit MasterCards to OneCoin arrested smuggling drugs.

      - A Shutterstock video does the mining for Ruja.

      - Worthless coins with a dictated artificial value based on nothing.

      - Exchange with sell orders pending and expiring. Ruja has explained this with a moronic answer: "When you're awake China sleeps." So why the hell the sell orders are pending then? How much sleep does a Chinese onecoiner need to buy a coin? The truth is that even onecoiners are not interested in buying coins.

      - Financial IT duplicates an issue to promote OneCoin. Publisher Chris Principe gets involved in the scam.

      - OneCoin's laughable KYC-process. All coin owners must prove their identity. How does that go along with banking the unbanked?

      - At least 15 bank accounts frozen.

      - Several authorities warning about OneCoin. Media refers to OneCoin as a scam.

      - Sebastian Greenwood lies even about a cake.

      Delete
    11. That confirms what I thought, you don’t have any proof.
      I just received my bonus, yeaaaaaaaaahh so cool !
      I’m going to buy some OneCoins. If you want to sell yours, it’s time.

      Delete
    12. Have fun with your worthless coins!

      Delete
    13. Worthless now, but not in 2018 when OneCoin will become public. I’ve seen cryptocurrencies such as Sexcoin, Gaycoin, Cannabiscoin… so why not OneCoin ?
      I’ve no idea what will be the value, but with 10 million users and 1 million merchants ready to use the currency, I think it should be ok. Anyway, I paid my OneCoins less than 1 euro, so even if the value is 1.5 euro, it’s fine for me.

      And it’s not totally worthless since you can sell your coins on the internal exchange. There is a proper time for selling your coins, which is on Monday, when people receive their bonuses and buy coins with their Trading account.
      Also when buying, we always adjust the coin price so that it fits with the amount we have on the Trading account. This is due to the critical fact that we can only buy/sell a natural number of coins (no decimal numbers).
      For example, if the value of 1 OneCoin is 6.95 euros and I have 75 euros on my Trading account, I can buy only 10 coins for the amount of 69.5 euros. But what do I do with the 5.5 euros remaining ?
      In order not to lose these 5.5 euros, I’m going to adjust the coin price with the ‘Limit’ option to 75 / 11 = 6.818 euros. So I want to buy 11 OneCoins at 6.818 euros (not 6.95 euros). Therefore, I need someone to sell his/her coins at the same price. Unfortunately, there are idiots everywhere including within OneCoiners and they want to sell their coins at the highest price. And then they complain “Why pending ? Why pending ?” It’s pending because they want to sell their coins at the Market price, which is the highest price. I don’t want to buy coins at the highest price, for God sake ! So they have to understand it’s important to lower the price, even slightly, if they want to sell their coins. That’s what I do and it works perfectly well. I guess after a few weeks, everyone will have understood how it works and nobody will complain anymore.

      Delete
    14. "And it’s not totally worthless"

      - Do you actually think what you type?

      "In order not to lose these 5.5 euros"

      - How come you would lose those 5,5 euros? If you manage to answer, the next question would be: Why?

      "there are idiots everywhere including within OneCoiners and they want to sell their coins at the highest price"

      - Those idiots! Care to explain why those idiots think that the highest price is the value of the coin? Why doesn't the coin value dive even though the coin isn't selling? This is a basic rule to any exchange: if it doesn't sell, the price is overrated and should dive.

      Delete
    15. This is funny - not that I expected anything else. Onecoiners like you just ignore any awkward facts presented.

      Delete
    16. When you buy a product 1-2 euros and sell it 6-7 euros, do you call it worthless ?
      For example, if you buy a Starter package today (110 euros), you get 1100 tokens. After the supersplit, you get 4400 tokens, which after mining will give you 4400 / 70 = 62.86 OneCoins. You paid your coins 110 / 62.86 = 1.75 euro each (I didn’t include the 30 euros activation fee because it’s only on the first package and it’s not part of the investment).
      So you bought yours coins 1.75 euro each and you can sell these coins 6-7 euros each on the internal exchange. Is this worthless ? As long as someone somewhere in the world is ready to buy my coins, they are not worthless.
      OneCoin is not usable right now but it has a value, so it’s not totally worthless.

      « How come you would lose those 5,5 euros? If you manage to answer, the next question would be: Why? »

      Because after receiving bonus on Mondays, we have 1 week to spend the money on the Trading account (actually, 5 days since the exchange market is closed during week-ends). After 1 week (the next Monday), the money is automatically used to buy tokens, which are immediately sent to mining (no split for these tokens). So it’s not entirely lost but buying tokens is much less interesting than buying OneCoins directly, even at the highest price. Tokens are only interesting with splits combinations.
      We cannot store money on the Trading account which drives people to buy OneCoins regularly and stimulate the market. That’s why. Otherwise, nobody would be able to sell. Therefore, when you sell your coins, the money you earn actually indirectly comes from the 40% bonus part of other OneCoiners (except when people buy coins with their Cash account, which is rare).

      The more new members join OneCoin, the more bonuses there are, the more people buy new coins with the Trading account, the easier it is to sell coins. The possibility to sell coins is indirectly linked to new members arrival. A slow down in recruitment which may have occured due to the African bank account freezing might have contributed to the recent difficulty in selling coins.

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    17. « Those idiots! Care to explain why those idiots think that the highest price is the value of the coin? Why doesn't the coin value dive even though the coin isn't selling? This is a basic rule to any exchange: if it doesn't sell, the price is overrated and should dive. »

      In addition to this recent difficulty which lowered the buy/sell price matching probabilities between OneCoiners, some members didn’t understand yet how to handle the exchange platform (I didn’t say that OneCoiners are idiots, it’s just that there are idiots everywhere). They try to sell their coins using the default setting of the platform which is set on the highest price. Others think that the price cannot be modified so they simply use the price provided by the company. With time, they will understand how you can buy or sell your coins at your chosen price, as long as it matches the price chosen by another OneCoiner. The price decided by the company is just the maximum price that can be used for exchange. Whatever the maximum price being decided, you cannot prevent some OneCoiners trying to sell at the highest price and some OneCoiners trying to buy at the lowest price. This will always set the real exchange value slightly lower than the market value.

      How is the market value of OneCoin decided ? The value of a currency doesn’t simply depend on the buy/sell rate, it depends on trust. Trust determines everything. If people trust the currency, they buy. If people don’t trust, they sell. How do you quantify how much people trust the currency ? Well, that’s not easy but one way is to link the value to the number of people who invest in the currency and how much. The more people invest into OneCoin means that more and more people trust OneCoin, and the more the value increases.

      The internal selling of the coins has a minor impact on this equation, if any, because it’s not technically a selling, it’s an exchange between OneCoiners. If you want to sell, you need another OneCoiner to buy. So the overall amount of OneCoins on the market (owned by people) does not decrease. This is different from fiat currencies. If you sell your dollars to buy euros, you don’t need someone else to buy dollars. So in this case, your sold dollars are unused and the dollar value decreases.

      Therefore, the fact that OneCoiners can exchange or not their coins doesn’t affect the value since it doesn’t change the overall amount of coins owned by people. The overall trust in OneCoin is unchanged : if 1 OneCoiner doesn’t trust OneCoin anymore and sell, another OneCoiner trust in OneCoin and buy.
      Nevertheless, if a lot of people want to sell (more than the ones who want to buy), although they cannot you can include this selling wish in your trust quantification. That’s why the value nowadays ranges from 6.94 to 6.97 euros.

      Consequently, with time the value can only increase since more and more people invest into OneCoin (more and more members) with new OneCoins being mined and owned, while 0 OneCoin is sold (only exchanged between members).

      In addition, the risk is taken into account for setting the value. The later people invest into OneCoin, the less risk they take, therefore the more the value increases with time (low risk/high price).

      Anyway, this value is decided by the company according to its own quantification system. It’s private right now, so they decide freely how much they want to sell their product. What is important is the value OneCoin will acquire when becoming public, in other words whether non-OneCoiners will trust the currency or not. Noone knows what will happen. This is the risk of investment. But I’m ready to take that risk.

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    18. Ari, I have read last two comments and I have to say you have aptly named this post.

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    19. "When you buy a product 1-2 euros and sell it 6-7 euros, do you call it worthless ?"

      - I thought you were buying education. The coins you get are just numbers on the screen. The only reason why OneCoin doesn't release the coin to market to have usability is just plain obvious.

      "So you bought yours coins 1.75 euro each and you can sell these coins 6-7 euros each on the internal exchange. Is this worthless ? As long as someone somewhere in the world is ready to buy my coins, they are not worthless.
      OneCoin is not usable right now but it has a value, so it’s not totally worthless."

      - This is just illogical nonsense. You might as well be explaining how Zimbabwean dollar has a value for some, because you can use them to set a fire.

      "Trust determines everything. If people trust the currency, they buy. If people don’t trust, they sell."

      - OneCoin certainly has a lot of people trying to get rid of their coins. I have not seen a single person complaining about problems buying coins.

      "The internal selling of the coins has a minor impact on this equation, if any, because it’s not technically a selling, it’s an exchange between OneCoiners. If you want to sell, you need another OneCoiner to buy."

      - On the contrary, it is evident that the only thing that kept the exchange going, was the little money injected there from the cash flow of new victims. This is how pyramid schemes work.

      "Consequently, with time the value can only increase since more and more people invest into OneCoin (more and more members) with new OneCoins being mined and owned, while 0 OneCoin is sold (only exchanged between members)."

      - This is a misconception you onecoiners tend to have. The coin value is not by any means backed by the money the victims deposit to OneCoin's accounts. Each victim just adds up the amount of coins, nothing more.

      Like I have said, the value is only artificial and dictated by OneCoin.

      "This is the risk of investment. But I’m ready to take that risk."

      - Too bad for the victims that OneCoin has no financial risk whatsoever in this.

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    20. I’m telling you that you can buy something 1.75 euro and sell it 6-7 euros, and you talk about Zimbabwe. I think there’s something wrong with your brain, some connections are not working. Maybe you went too high on the sauna – frozen lake cycles.
      You are missing a basic business rule : anything has a value as long as someone is ready to buy it.
      You can deny it if you want, but the fact remains : you can multiply your investment by at least 6 / 1.75 = 3.43, whether you like it or not.
      The money collected is now on my bank account and I can buy what I want with it. That’s real, that’s concrete ! Not like your imagination.

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    21. "You are missing a basic business rule : anything has a value as long as someone is ready to buy it."

      - OneCoin's inner exchange has nothing to do with any business rules whatsoever. On the contrary, it's a place where no rules of economics do apply.

      "You can deny it if you want, but the fact remains : you can multiply your investment by at least 6 / 1.75 = 3.43, whether you like it or not."

      - It's a pyramid scheme and the exchange has long been crowded by people desperate to sell their coins. That's why sell orders keep pengind and expiring, because OneCoin can't inject much money - if any at all - to the system after losing all of its bank accounts.

      To claim that anyone could multiply their investment in OneCoin is just a blatant lie.

      "The money collected is now on my bank account and I can buy what I want with it. That’s real, that’s concrete ! Not like your imagination."

      - Now, where's your trust in the coin? Why are you selling your coins? Is there something wrong with your brain?

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    22. I sold some of my coins several months ago, just to see whether the process is working (including withdrawal). And it all worked perfectly !
      Since then, I bought several new packages. I don’t sell my coins anymore.

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    23. Well then let me offer you all my coins in a ridiculously cheap price.. lets say I got 500coins and 10k tokens, its all yours for 2000USD. Before the super split, this pack worht more than 6000USD. Hope your not hesitating

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    24. Well, I just bought 16 000 tokens with supersplit + 2 splits, so that’s 16 000 x 4 x 2 x 2 = 256 000 tokens for 1760 euros.
      So I’m afraid you’re a bit expensive, Viktor. I have to decline your offer.
      However, I have a spiral staircase in my garage, which I don’t use. I sell it 20 000 euros, do you want to buy it ? You may think it’s worthless but this spiral staircase is very special : it was part of the Eiffel Tower staircase (I have certificate). Are you interested ? Anyone interested ? I hope you guys understand it’s a unique opportunity.

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  5. There goes Unionpay cards:
    http://behindmlm.com/companies/onecoin/onecoins-china-unionpay-cards-disabled-public-exchange-denied/

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    1. They are cooking up a new money transfer method. I'll just link my murobbs comment to here:

      http://murobbs.muropaketti.com/posts/1718055854/

      Instead trying to copy-paste that stuff with quotations.

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  6. I wonder if there are any good highlights in this:
    https://youtu.be/Y7d-9xfRUsU
    Kari is promoting OC again.

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    1. Well that clip was a bit short. :) I have checked videos of the recent events though... nothing much new there. They are repeating the same propaganda event after event.

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    2. Yeah, I suppose the only real news would be if they'd tell how exactly the "education packages" are supposed to be bought. Otherwise the whole scam is kind of drying up.
      And usually new stuff (read: new lies) come up only when the time is up for old lies to become reality, which they never do.
      I'm not 100% sure but I think that there aren't any "promised" things before the coin should "go public" in 2018. (Whatever they mean by "going public".)

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