FACTS about OneCoin by EagleOne user

Here we will post all original accusations and arguments people who hate onecoin wrote all over blogs and comments. We will deeply analyze, dissect and answer everything with objective arguments. People will be left to decide which arguments are more logical and true to them
CryptoXpose
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Re: FACTS about OneCoin by EagleOne user

Post by CryptoXpose » Wed Oct 18, 2017 9:21 pm

How is centralized system solving user security? You really think OneCoin is unhackable, while CIA and NSA are not?
And anyway, I'd feel very unsecure not to be able to keep my assets in my own private wallet behind a private key. I'm definitely wouldn't trust these career scammers who freeze already people's accounts at will.

Also, what makes you think that OneCoin's price would be exceptionally stable if it was real?

slobodanboda
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Re: FACTS about OneCoin by EagleOne user

Post by slobodanboda » Wed Oct 18, 2017 9:46 pm

CryptoXpose wrote:
Wed Oct 18, 2017 9:21 pm
How is centralized system solving user security? You really think OneCoin is unhackable, while CIA and NSA are not?
And anyway, I'd feel very unsecure not to be able to keep my assets in my own private wallet behind a private key. I'm definitely wouldn't trust these career scammers who freeze already people's accounts at will.

Also, what makes you think that OneCoin's price would be exceptionally stable if it was real?
WHY YOU KEEP MONEY IN THE BANK.
BANK IS ALSO CENTRALIZED PRIVATE COMPANY.
THIS IS PRIVATE AND AT LEAST WE KNOW WHO IS THIS.
IN DECENTRALIZED SYSTEM IF YOU ARE HACKED YOU DON'T KNOW NOTHING AND WHO CAN HELP YOU.
ANOTHER TOPIS IS STABILITY.
EVEN CHILD KNOWS THAT YOU LIKE BITCOIN ONLY BECAUSE IT'S MANIPULATIVE AND YOU EXPECT 1000% PROFIT PER YEAR, WHY OTHER YOU WOUD LIKE BITCOIN, IT'S NOT YOUR SON.
I AGREE THAT'S LEGAL LOVE BUT OUR WORLD, LIFE ALWAYS GO UP AND DOWN SO DON'T BE SAD OR ANGRY IF ONE DAY BITCOIN CRASH TO USD1.000 MAYBE, I DON'T WANNA SAY THAT I LIKE IT BUT JUST I CAN SAY: THIS IS LIFE.
MANY BOR WORLD MARKET NET LAST YEAR ACCEPTED BITCOIN FOR PAYMENT BUT NOW THEY DON'T, WHY IF BITCOIN IS SO SAFE AND SECURE?
ANSWER IS: THEY NEED STABILITY, PROFIT THEY ALREADY HAVE IN THEIR PRICES.
IF THEY WANT BET, THEY WILL GO ON WALL STREET NOT WORK ON MARKET NET.

CryptoXpose
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Re: FACTS about OneCoin by EagleOne user

Post by CryptoXpose » Wed Oct 18, 2017 10:51 pm

Banks are insured, regulated and they have financial/money service licenses. OneCoin has nothing.
I would keep any larger crypto-investments in hardware/paper wallets (not connected to internet). You can try to hack as much as you want against offline-wallet, not gonna work.

I don't know why a child would know that I like Bitcoin only because of some reason. I don't have significant cryptocurrency investments in Bitcoin.

Igorkrnic
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Re: FACTS about OneCoin by EagleOne user

Post by Igorkrnic » Wed Oct 18, 2017 11:05 pm

CryptoXpose wrote:
Wed Oct 18, 2017 9:21 pm
How is centralized system solving user security? You really think OneCoin is unhackable, while CIA and NSA are not?
And anyway, I'd feel very unsecure not to be able to keep my assets in my own private wallet behind a private key. I'm definitely wouldn't trust these career scammers who freeze already people's accounts at will.

Also, what makes you think that OneCoin's price would be exceptionally stable if it was real?
Well, there was 100.000 eur hacking challenge with 300 unsuccessful attempts and also central body can keep backups so anything can be solved. But that is unlikely scenario cause security is NASA-grade (believe it or not, doesn't matter)

I was talking about user security where a user could get hacked, like username, password and transaction password (see it as a private key) and someone steals his coins. The company can give it back to him. Bitcoin & altcoins have no such protection, someone steals your coins you are toast. Since we talk about the mass market, cold storage is not an option but that one can be more easily stolen or lost, did you see where Xapo stores your vault optioned bitcoin?

It is ok that you would not trust central body to save your coins, yet you trust your bank, then you will not use onecoin in future, you will use.. what will you use actually cause nothing is usable, it is all buy/hold/sell :D Only <1% of people can use it cause they already profited and don't care to waste some btc... jungle

As for stable price, we already saw it stable with low demand / high supply on xcoinx during january when 3 million people were selling to few thousands of trading balance networkers were buying, considering only those that logged in to buy, cause most of them just left trading balance to autobuy tokens. During this period, I was able to sell 2 orders in 45 days of xcoinx because ultimate packages had the advantage and price fluctuated in decimals.

Now imagine open world demand, the same 3 or 4 million supply (consider that most power packs are in 2 years coin safe).
So what would I do? I would prepare some fiat reserves to make a demand (like alibaba started buying all deals in the first month), maybe stage 1 ICO is exactly that, after that the wheel would roll cause word would spread fast and people would see that onecoin is not a scam after all. Then, merchants who receive coins through deals would have an advantage on selling coins and the rest of us can attract more merchants so we can use the coin.
Of course, since we know that they will start with one central exchange and 100s smaller local exchanges, they can put some limits and order expirations to make price stable, sell will be little slower but that it what is needed.
That is all considering demand would be low, but we can not know that, it may also be high ;)

EagleOne
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Re: FACTS about OneCoin by EagleOne user

Post by EagleOne » Thu Oct 19, 2017 2:03 am

Igor, whatever you're smoking I want some. Why in the world would anyone want to waste their time hacking OneCoin? There's nothing of value there to hack. That's why the challenge was so laughable. If professional hackers really wanted to hack OneCoin they would, and could care less about the 100,000 Euro challenge. I doubt if OneCoin would even know they were hacked until someone told them.

In the meantime Ruja is still MIA, Pierre looks like a deer caught in headlights every time he is on video, and Pablo has literally disappeared. Not one of you can tell me who is on their board of directors, or who all the officers of the company are. OneCoin is about as transparent as mud.
Last edited by EagleOne on Thu Oct 19, 2017 8:54 am, edited 1 time in total.

Igorkrnic
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Re: FACTS about OneCoin by EagleOne user

Post by Igorkrnic » Thu Oct 19, 2017 2:48 am

EagleOne wrote:
Thu Oct 19, 2017 2:03 am
Igor, whatever you're smoking I want some. Why in the world would anyone want to waste their time hacking OneCoin?

If professional hackers really wanted to hack OneCoin they would, and could care less about the 100,000 Euro challenge.
And you ask me what I am smoking...

EagleOne
Posts: 147
Joined: Tue Jul 04, 2017 11:35 pm

Re: FACTS about OneCoin by EagleOne user

Post by EagleOne » Thu Oct 19, 2017 8:51 am

Igorkrnic wrote:
Thu Oct 19, 2017 2:48 am
EagleOne wrote:
Thu Oct 19, 2017 2:03 am
Igor, whatever you're smoking I want some. Why in the world would anyone want to waste their time hacking OneCoin?

If professional hackers really wanted to hack OneCoin they would, and could care less about the 100,000 Euro challenge.
And you ask me what I am smoking...
I do want to correct my previous statement that there isn't any value in OneCoin. The only value is OneCoin's database.

Yes I was asking what you are smoking because hackers don't do it for the reward money for hacking the website. . They would do it for the ransom money they would demand from OneCoin to get their data back. They sure wouldn't do it for the value of OneCoins, as there isn't any value. Ruja just makes up the value, and made-up value is worth zero in the real world.
Last edited by EagleOne on Fri Oct 20, 2017 8:09 pm, edited 1 time in total.

CryptoXpose
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Re: FACTS about OneCoin by EagleOne user

Post by CryptoXpose » Thu Oct 19, 2017 9:37 am

The hacking challenge was only against OneCoin Cloud storage service, which is just a simple cloud based cloud storage (which was licensed from pCloud which offers the same cloud storage services much cheaper and had the original 100000 euro challenge which Onecoin just mirrored). Because the cloud storage service security is pretty strong, doesn't mean Onecoin's other IT security is strong.

It's like saying a hard-drive connected to internet has strong encryption, so you can't hack into servers, which is of course bullshit. We don't even know if Onecoin uses this cloud storage for its own internal data storage, most likely not exclusively anyway.

Of course in a typical deceiving way Onecoin gave the impression that the cloud storage hacking challenge (pCloud's security) would reflect all Onecoin IT security. And it seems ignorant members bought it.
Of course for anybody knowing anything about IT, it's clear just some licensed cloud storage space doesn't say yet anything about the whole IT system security.

Actually I think you Igor know this very well..

I think most value in Onecoin system is people's KYC information.
Last edited by CryptoXpose on Thu Oct 19, 2017 11:32 am, edited 16 times in total.

CryptoXpose
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Re: FACTS about OneCoin by EagleOne user

Post by CryptoXpose » Thu Oct 19, 2017 9:44 am

Heh, the price didn't fluctuate in XcoinX because obviously it wasn't following supply/demand. Ruja kept the price high and not fluctuating no matter people couldn't sell even with 1 euro. That was ridiculous.

Igorkrnic
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Re: FACTS about OneCoin by EagleOne user

Post by Igorkrnic » Thu Oct 19, 2017 12:45 pm

EagleOne wrote:
Thu Oct 19, 2017 8:51 am
Yes I was asking what you are smoking because hackers don't do it for the reward money for hacking the website. . [/color][/b]
Well, not so many ransome producers were able to collect more than 100k and here they could earn it in a single white hack. 300 have tried and failed. Sound good.

CryptoXpose wrote:
Thu Oct 19, 2017 9:37 am
The hacking challenge was only against OneCoin Cloud storage service, which is just a simple cloud based cloud storage (which was licensed from pCloud which offers the same cloud storage services much cheaper and had the original 100000 euro challenge which Onecoin just mirrored). Because the cloud storage service security is pretty strong, doesn't mean Onecoin's other IT security is strong.
Well, they did not say they invented this cloud security, they paid for it and it is good.
In order to hack any of the Onecoin frontend or the blockchain you would first need to enter cloud cause it all runs on the cloud servers so yes, hacking cloud grants you way in, if you can not hack could, you can not get to any part of the system.
I used to own evovps.com (I sold it last year) so I kinda know "a little bit about securing virtual servers).

Point is, if their cloud is secure, the whole system is, and good thing is that their blockchain is custom made so they do not get to fear any possible backdoors in the future.

CryptoXpose wrote:
Thu Oct 19, 2017 9:44 am
Heh, the price didn't fluctuate in XcoinX because obviously it wasn't following supply/demand. Ruja kept the price high and not fluctuating no matter people couldn't sell even with 1 euro. That was ridiculous.
Seems like there is a way and a plan to have a stable price, you asked me how, I explained you, but as usual, you always have something to criticize. Yes, it would no be an open market at first and that is what I would do in order to protect the value stability. But again, we are talking future, we shall see how they will pull that up. And it is not Ruja who holds the price, it is "order expiration" and limit rules that do it. With open demand, I expect much higher limits then they used to have on xcoinx.

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