Wednesday, 2 November 2016

OneCoin - Wahlroos & Mirza on stage in Bucharest, Ignatova in Kiev

Kari Wahlroos and Yazir Mirza in Bucharest Romania 23th October 2016

Phew, over two hours of Kari Wahlroos and in addition over one hour of Yazir Mirza training OneCoin reps in Bucharest. My stomach couldn't take all of the Mirza's part after two hours of Wahlroos, but here are some keynotes of the trainings:

"Stop thinking!"

According to Wahlroos OneCoin reps should not use their brains. - Speaking about the obvious.

"We don't need to prove anything"

"So pioneer time is over for our company. We don't need to prove anything to anybody anymore."
In ponzi standards that's very true. I agree 100 %. They sure don't need to prove anything anymore. What comes to being a cryptocurrency, OneCoin has nothing but proving to do.

Kari Wahlroos certificates that everyone can make 100.000 euros before Christmas

"This is a certificate... If you start working today 10-15 hours every day... until Christmas, everyone of you will make 100.000 euros. And I will sign it." Then he asks the audience: "Who's going action now? ... So, you see how easy that is." 

Wahlroos and his certificate of 100.000 € incomes for the coming nine weeks.
If we assume that the 100.000 euros will be a 6 % cut of the total sales a OneCoin representative can actually have in his cash account, we can calculate an estimation of the total sales. That been said a rep must sell packages worth over 1.6 million euros to accumulate those commissions. (Commission is 10 % of sales, but only 60 % of if goes to cash account because of mandatory coin purchases with the 40 % cut.) 

Well, OneCoin has some lucrative bonuses for the fast and effective scammers, so I must admit that my calculation could a bit rough. For the sake of argument, let's say it's only a million euros worth of sales you have to make during those 9 weeks. Would that kind of sum of loose money be possible for everyone to achieve in nine weeks? I guess so, because Kari Wahlroos gave a signed certificate confirming it.

Yazir Mirza at the Bucharest event:

Yazir Mirza starts his presentation by asking the audience: "Who is here today present to make a little bit more money?" Then he waits a while many of the audience raise their hands. "So you guys can leave the room because this is not the right place. Because this is a place where you make a lot of money!"

Ruja Ignatova is still on board

A video uploaded recently to YouTube shows that Ruja Ignatova was a speaker in Kiev 1.11.

About M.A.B.

"This application does not give you the chance yet to accept onecoins as a merchant." Apparently merchants have to wait for two years to maybe have some actual use for the application. It raises a question why would any merchant waste time for an application that is completely useless for two years.

"From January on we will allow however every merchant to join the network and to accept onecoins. How will this work? So you all can go out and sign up merchants..." Instead of actually explaining how this would work, she starts to blabber about a possibility to use a partial payment method where a purchase can be made partly with onecoins. But how come merchants will suddenly be able to accept onecoins? She just told a while ago that onecoin would not go public until 2018 and merchants can't accept coins until then. I'm getting very mixed signals here.

I'm just guessing now, but I assume the merchants maybe receive part of the payment as onecoins via a clumsy transfer made using the member accounts. The rest of a purchase is paid with fiat money according to a agreement between a merchant and a customer. So the merchants have an option to choose how much their customer pays with fiat currency and what amount will be deposited to merchant's onecoin account. But I'm only guessing here. She speaks so vaguely that it leaves a lot of room for different interpretations.

"So why would you go out and find this 1 million merchants?"

In addition to normal pyramid building commissions Ignatova promises additional incomes: "But if I go and I recruit a merchant, OneCoin/OneLife will pay BV (Business Volume) on all the cash transactions the merchants out." ... "So it means whenever a merchant makes a sale you will continue earning money." There's no sense in this, but okay? I'm just wonder where does the money come from.

Wahlroos and Ignatova are not on the same page

"Now Kari told us already that some stores already take onecoins. I guess they do this in private, but all of this people can join then the merchant program and the people who brought them to the network can earn BVs with it." Well, I guess you should have agreed about a mutual lie before starting to spread different ones. There are no merchants accepting onecoins. That's also the message given by OneCoin's customer service.

About 2018

"So the time will come in 2018... so we want to target April or May, and we want to be one of the first cryptocurrencies that goes public in appropriate way." Apparently the so called appropriate way is to be the first cryptocurrency that has not been able to be used over three years of its existence. That's of course the only way for any currency with only an artificial value and no usability.

Winter is coming

While digging up information about OneCoin I noticed that it has been put on the Investor Alert List published by Singaporean Monetary Authority:
It was listed quite recently, 21 October. This alone might not affect to the OneCoin's bank account in Singapore. However, being on the list is not a merit to brag about. 

I also noticed that the United Overseas Bank visited my blog today to snoop around some information about OneCoin. So there's at least a proof that UOB is investigating the case.

We got our first snow here in Finland so winter is coming. I also sense a cold breeze coming from Singapore. It's like a bank account would be just about to freeze.

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