I watched a 1 hour and 40 minutes long video of the event. Thank God you can speed up YouTube videos with sound enabled.
I knew already that nothing much interesting happened there, even the rumored publishing of OneCoin's White Paper didn't happen during the event. Nevertheless, let's go through this:
A man named Jackcha is on the stage at the beginning of the video:
"If you want something really, really, really, really, REAAAL-LY - if you want it, the entire Universe will help you to achieve it."
- I'm not kidding! That's really, really, really, really, REAAAL-LY what he said.
Sebastian Greenwood on the stage, making the first one of his usual twice-in-a-year appearances.
Sebastian Greenwood: "Today we are three million members."
- Yeah, right.
It's impossible to know what's the truth about the amount of members OneCoin has scammed to join the ponzi. However, in the chart below Google Trends reveals the overall popularity between search terms "onecoin" and "bitcoin":
|The chart starts from 1 October 2014 ending to today. As you can see, compared to BitCoin OneCoin is hardly visible on the chart. Click here to enlarge.|
OneCoin claims to be by far the biggest cryptocurrency in the world. The chart on the other hand shows that in the real world there's only a small minority of people that have shown interest towards OneCoin. Notice that the chart shows the general popularity of a search term, so it includes all searches done - no matter whether a search has been done by hating OneCoin or loving it in a cult like fashion.
|Here's the same chart without BitCoin. The highest peaks on the chart match the biggest events in OneCoin's history.|
Greenwood: "Some merchants are bad merchants. Some merchants are very very good merchants. Now DealShaker is a platform. It will unite the world with different kind of shops, merchants, all over the world. - Very difficult to control some of the bad fraudulent merchants.
However, don't worry... China. Don't worry China. There's a very strong team, a very strong team behind China, behind DealShaker, and we do not accept any fraudulent merchants on DealShaker."
- Greenwood is referring to a bunch of car deals from China that turned out to be a scam inside this ponzi scam.
In addition there has been a Polish merchant group advertising car deals with pictures taken from a legitimate car dealership located in Poland. Those ads disappeared very soon after the real car dealership selling the cars was contacted and questioned about the deals.
But don't worry China, there's always a chance that at least all the ads selling bed spreads might be valid.
Greenwood: "You need to know how to make the business. You need to understand why cryptocurrency is the future."
- OneCoin's education packages don't include much educational material about cryptocurrencies so I'm not sure what good does the education provided by OneCoin do regarding the understanding of cryptocurrency.
Therefore the slide behind Mr Greenwood with the slogan "Education is at the heart of our company" doesn't make much sense, let alone OneCoin scam having a heart.
Greenwood: "Now the IPO means what? In this company it means what? It does not mean that the company needs to go on a stock exchange to get money. That is not the purpose of the IPO.
Traditional companies go on the stock market to get capital. This company does not need capital."
- Greenwood continues with a mindless blabber, which doesn't make any sense to answer the question he asked from himself.
Anyway, OneCoin is selling so called future certificates (OFC's) during the IPO (Initial Public Offering). The company sells OFC's in exchange to onecoins. As onecoins are worthless the company doesn't gain capital anyway. But it only makes sense, because also OFC's will be absolutely worthless.
The IPO is an old ponzi endgame trick OneCoin's top scammers are very familiar with.
Greenwood: "When the IPO happens next year, there will be no more tokens in the packages. - You understand what I'm saying to you right now? Do you understand, we have one more year?
"So everybody who wants to create coins, do it this year! Do not miss this opportunity, cause you would be insane. Nobody wants to be insane. There are hospitals for the people who are insane. Don't check into that hospital. Check into OneLife this year."
Then Greenwood moves on to preach about the biggest package available, the Power Pack.
"It's the biggest package, which creates the most coins in the shortest period of time there is for mining."
- Oops, you didn't mention education once while talking about the Power Pack.
Power Pack seems to cost almost 50k euros. But I must admit that there's a lot of education included. You even get the same education multiple times since the Power Pack combines the Tycoon+, Premium AND Infinity Packages!
Greenwood lets us know that there are only 3500 Power Packs left for the members. - So you must act quickly to get educated!
Ruja Ignatova: "This network has made about 1.000 millionaires... This is incredible, 1.000 millionaires based on commissions - I'm not speaking about the coins."
- Let's do a little math here:
1.000 millionaires x 1.000.000 euros = 1 billion euros.
The commission OneCoin pays in fiat currency is 6% of the sales. So the 1 billion euros is only 6% of total sales. Hence we can roughly estimate that the total sales generated by those millionaires and their downlines must be at least 16,7 billion euros.
To achieve total sales of 16,7 billion euros there would have to be about 3.300.000 members, each buying at least a Tycoon package costing about 5.000 euros. - Yeah, Ruja, you are right - that is incredible. I would even go as far as calling this impossible.
And bear in mind that I didn't include the sales made by weaker legs, let alone all the sales done by those who have not achieved millionaire status.
Ignatova: "There are many cryptocurrency exchanges. You can buy, you can sell Bitcoin. But no cryptocurrency is properly listed on a stock exchange. And this is what we want to do."
- The question that should be asked is: Why would there be any real cryptocurrencies on a stock exchange? Isn't the OneCoin Ltd., the company, going to be listed and not the currency?
"So the company will hold a lot of coins. (Ignatova is referring to IPO and the members spending their coins in exchange the OFC's)
Sebastian told you already: After the IPO no more tokens in the packages.
So how can people buy onecoin, where will they buy it from?
Because the coin will get very popular. The first coin on the stock exchange. So they will buy from you in the company. And at what price they will buy it?"
- Pardon my Finnish, but - mitä helvettiä / what the hell - is she blabbering about? Oh, now I get it, she must be talking about the laughing stock market, because there isn't going to be fools to buy those coins.
"They will have to buy at market price."
- It's exactly the opposite - the coin holders would have to sell at the market price. And everyone outside the religious OneCoin cult knows what this means to the artificial value onecoin has.
"Now, many of you ask me for advise. - Should I keep my coins, or should I convert them to OFC's?
And again I say it depends. You know, cryptocurrency, if you want to spend it and to use it, keep your coins. But I know that a lot of you believe in the value growth of the coin, so they don't want only to use it, but they want to say "I was one of the first who believed in OneCoin, so I want to profit from this." And if you feel like this, I recommend to you to change as many coins as you can in OFC's."
- So she urges the members to get rid of their coins.
"And I tell you why. There're three reasons for this:
Reason number one is that it is always easier to sell shares than cryptocurrency. You don't have sell and buy limits on a stock exchange."
- But just a while ago you said that the coins are going to be so popular that people just have to buy them at the market price. And now you are implying that the company is still going to limit the selling of coins despite going public. This is just hilarious. Do you also mean that the company is still going to dictate the value of the coins?
"The second reason why I believe that the OFC's are the better option, the company we built up for the IPO will not only have the coins that you give now for the shares. This company owns also the DealShaker."
- Then she brings up Groupon as an example - again, like in many occasions before. Like OneCoin's DealShitter would be the next Groupon or even better.
Trying to add some attraction to the IPO scheme Ignatova throws DealShaker and Xcoinx along to be merged to the IPO.
"So you make money from every bought and sold coin."
"Our coin will be extremely strong in the public eye when we are the first cryptocurrency going public."
I don't think I spotted the third reason you were supposed to elaborate... Maybe it's this following announcement...
The new CEO
There's now a new "OneCoin CEO" in the company named Pierre Arens.
After introducing the new CEO Ignatova still urges the members to exchange their coins into OFC's. - Wow, the company now really wants those coins. Before there was any plans revealed about the IPO Ignatova had stated that the company itself would not buy any coins.
Pierre Arens's part is so boring that I don't bother quoting him. He spends about 5 minutes on the stage ruining his name and making sure that he would be recognized from thereafter at least from being part of the ponzi management.
- There was absolutely nothing worth mentioning.
The video on YouTube.