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RE: IS ONECOIN A SCAM AND WHAT IS THE EVIDENCE THAT PROVE THAT

in #cryptocurrency • 8 years ago (edited)

I have been reading up on the blockchain and I kinder have a small understanding about it but as to what it look like not to sure however base on my research I understand the blockchain could be centralize or decentralize however in onecoin case it is centralize. I also understand a decentralize blookchain could be problematic if you have trouble makers with it. centralize could be better if the people controlling is trust worthy and trouble makers could be put out easily . In both cases it seems to have its good and bad. I think we should wait and see the future for onecoin before we make judgement on them being a scam. I rather take my chances with them and try not to miss an opportunity if there really turns out to be one however if I lose well we know that is part of life to.

The way I see it any stands I take I could win or lose. I rather take my chances inside. Hey thanks for taking time to read and respond and let us work hard and build steemit as well. but wait I cannot see steemit blockchain eighter

8 years ago in #cryptocurrency by
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     8 years ago  

    OneCoin is 100% scam. There are many proofs, but I present here one:

    You can buy the new Ultimate package with 118 000 euros. Ruja says that it will generate over 2 million OneCoins:


    OneCoin price is not decided by public market, rather the company decides the coin value. At the moment the coin value is 6.95€. So, with 118 000 euro Ultimate package, you will get according to Ruja, over 2000 000 onecoins *6.95€= over 13.9 million euros, just like that. This doesn't need any coin price increase or anyting. Just investing 118 000 euros will according to Ruja generate over 13.9 million euro worth of OneCoins , 117 times the amount of Ultimate package price. All this with the current 6.95€ coin price.

    But there are even wilders figures from onecoinfo.com:

    With the combo package Tycoon+Premium+Ultimate, you pay 139 280 euros, and it generates about 2.4 million OneCoins, which in euros is 2.4*6,95€= 16.6 million euros.

    This "small" 119 times value increase with the SAME coin price is just the start. The fun part is the coin price increase predictions..
    With 100€ coin price, the investment value is already 2.4*100€=240 million euros as you can see from the chart.
    The coin value increase in this calculation is about 14-16 times, but the investment value increase is way over 1700 times!! How is that possible? The answer is simple - it is not possible.

    Also, couple of days ago the fake market-cap of OneCoin increased about half a billion euros in 1 second, when Ruja decided to raise the coin price from 6.25€ -> 6.95€. The market-cap of OneCoin is totally fake, because it is not based on public market. 1st of Oct Ruja will double everybody's OneCoins, but the coin value is expected not to drop, but just continue to grow. OneCoin will change the blockchain and increase maximum coins to 120 billion, and they will generate for everybody double the amount of their current coins. This should also instantly double the fake market-cap.

    OneCoin will also start producing coins with increased speed. According to Ken Labine 10000 coins every 1 minute, instead of every 10 minutes (currently). So after 1 of October they will produce 14.4 million coins a day and around 438 million coins per month. Per month with the current 6.95€ coin price, that is over 3 billion euros worth of OneCoins in a month, and way over 36.5 billion euros in a year (in fact much more because the coin price will only increase) which is simply said ridiculous.

    There are so many things which show OneCoin is a scam, that there would be enough material for a book already. But the point is, that it looks like you have a lot of wealth on your OneCoin account, but due to selling restrictions, it is pretty much impossible to transfer the OneCoins to euros, and you can't buy anything with your OneCoins either.

    And because of the above things, and many many other reasons, like a very bad reputation, it is extremely unlikely that we will see any serious merchants supporting OneCoin, even if you could transfer your coins to a merchant. At the moment the coin transfer is not even possible, other than between your multi-level-marketing down/up -line..

    There is absolutely no doubt. OneCoin is a scam.

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     8 years ago  

    these point that you are making are very strong and could be right however they could be wrong as well these point are not evidence but speculation. The company blockchain is centralize and therefore the price is set by the company. However what will determine future price is the demand for the coin if and when the company goes public.

    The market cap of the company are from sales of it package and not based on the value of the coins. I don't have any coins yet and I only spend 140 euro so far. However you have to look at both scenarios. What the company are projecting right now could actually happen and what would be the story then. Am looking for evidence and not speculation, thanks anyway for your comments it was well received.

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       8 years ago  

      Interesting you say whisleblowerfin's points are "speculation". He is giving you facts. Troubling facts if you sank your money into the onecoin scam, but facts nonetheless. Even if you ignore the mountains of other evidence that Onecoin is a fraud, consider his first point above: the company says Onecoin is worth EUR 6.95 /ea and yet sells it to gullible, ignorant "investors" for a deep discount from that, in fact less than 100 times what they say it is "worth". That makes absolutely no sense at all. Something is worth what someone else will pay you for it. Period. Something is not worth 100 times more than they charge you simply because these fraudsters say it is. If that doesn't convince you Onecoin is a fraud, then nothing will convince you until you realize your money is gone (and even then maybe you won't get it). But it gets much, much worse. Some people that have been tricked into buying a package on are FB looking for buyers and offering their Onecoins at less than 1 EUR each! Think about it. Just look at the facts, open your eyes, and use your mind.

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       8 years ago (edited) 

      Some quick facts about Ruja Ignatova and OneCoin company:

      • Ruja Ignatova is a convicted criminal. She pled guilty of fraud in German court March 2016. She and her father made frauds in a German casting company Gusswerk Waltenhofen, causing the company to go bankrupt and around 100 workers to lose their jobs.

      • OneCoin the company has no anykind of White Paper of their "revolutionaly global world reserve currency". This should be a standard thing, but no.

      • OneCoin, an IT company suppose to make history and suppose to be the fastest growing company in history, has no "jobs" -section on their web-page. Is there even any phone numbers, last time I checked, no. Very strange for an IT-company.

      • Nobody in the cryptocurrency/blockchain scene knows any cryptocurrency/blockchain coders who work at OneCoin. Usually people in the "scene" know each others at least by name. At least somebody should know someone working at OneCoin cryptocurrency/blockchain field, but no.

      • LinkedIn or Google search don't find anybody working with cryptocurrency/blockchain technology at OneCoin. Very strange again.

      • Does OneCoin even have a CTO (Chief Technology Officer), not known. Very strange for an IT-company who says will create the biggest reserve cyrptocurrency of the world.

      • We see mostly MLM salesmen, many who have been in previous ponzi scams and got convicted of frauds, or are even on the run in Thailand etc. Many known criminals promote Onecoin. OneCoin must have some web-programmers and a couple of people working in support trying to explain why you can't sell your coins and why everything takes so much time.

      • The company doesn't reveal any financial data. (Of course not, why even expect..)

      • OneCoin is owned by an investing company, which is owned by another investing company which is owned by Veska Ignatov:

      • If you want more details about any of the above things, just ask.