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
EagleOne
Posts: 88
Joined: Tue Jul 04, 2017 11:35 pm

Re: FACTS about OneCoin by EagleOne user

Post by EagleOne » Mon Aug 28, 2017 9:01 am

Some FACTS for you:

As of October 1, 2016, OC is producing 10,000 coins per minute or 14.4 Million Coins per day. This is a little more than 438 Million coins per month, and means that in one year OC will have mined 5.256 Billion coins.

OneCoin said they will do an IPO when 80% of the coins have been mined. Dr. Ruja announced on Oct 1, 2016 that OC would mine 120 Billion Coins. For OneCoin to do an IPO at 80% of the coins mined means OC has to mine 96 Billion coins before an IPO can be done. At 5.256 Billion coins per year, the earliest an IPO can be done is about 18.5 years away. Now what was this about OC doing an IPO, hopefully, by the end of 2018?

Igorkrnic
Site Admin
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Re: FACTS about OneCoin by EagleOne user

Post by Igorkrnic » Mon Aug 28, 2017 11:20 am

Thank you for showing how true your "facts" are and how your assumptions are always made based on your ignorance :)

First of all, the blockchain mines 50000 OC per minute, not 10000. That means 72Million per day, around 26Billion per year.

But that is not so important cause Onecoin was supposed to go public at 80% of old blockchain mined coins and that was supposed to be around the end of 2016 but they were smart not to leave it like that cause it would fail, too few coins, too slow blockchain, they would not have anything better than bitcoin. New blockchain was supposed to saturate coins over many users and leave large quantity in the company's possession so they can protect its stability on the market. So 80% story was over with the old blockchain. That is what drove many people away from Onecoin and Onelife cause they wanted fast profit. In case you do not know how mined Onecoins are distributed read this topic.

As for IPO, it was not announced during old blockchain, it was first announced in January 2017 so IPO does not depend on the company at all, it depends on the bank that needs to do all due diligence about the company's operations, technology, potential, and digests all negative crap around the web which is actually all about Onelife, not Onecoin, and then the bank determines the number of shares, starting price of a share and lists it on the exchange. So IPO will be sometimes in 2018 depending on the paperwork and the bank, and along with IPO will come public trading for Onecoin.

If IPO does not happen, let's say no bank wants to go into the mud against the Bitcoin community that is pretty strong in the shadows, Onecoin users will receive their OC back from OFC and xcoinx.com will still start public trading. But since they already said pre-IPO audit has begun, that means there is an investment bank that is already doing its due diligence on Onecoin so IPO is most likely to happen


slobodanboda
Posts: 47
Joined: Tue Aug 08, 2017 9:54 am

Re: FACTS about OneCoin by EagleOne user

Post by slobodanboda » Mon Aug 28, 2017 1:22 pm

This is very funny from EagleOne.
if you are in OneCoin community I think 99.9% people know that mining is 50.000 per minute.
I don't understand these haters, first they should study something about topics they want suggest and handle by facts.
It's too sad read such thing but it also shows that their purpose is not try prove something just manipulation with informations.
Maybe he should buy STARTER PACKAGE, invest EUR140.00 be inside and then study.
In this case maybe he can find something worth for our community and help to improve.
But it's very hard expect from him two things:
1. That he can invest EUR140.00
2. That even inside he can find something worth for us can be improved.

EagleOne
Posts: 88
Joined: Tue Jul 04, 2017 11:35 pm

Re: FACTS about OneCoin by EagleOne user

Post by EagleOne » Mon Aug 28, 2017 7:13 pm

EagleOne wrote:It is so hard to keep up with Ruja's lies. OK, let's take 50,000 per minute, that still means the earliest an IPO could be done is late 2020 or early 2021.

ANSWER BY IgorKrnic
How is it hard to keep up with Rujas "lies" when she never said 10000 OC was mined each minute? Seems like it is getting hard for you to keep up your crap.


EagleOne wrote:Ruja was the one who said that an IPO would not be done until 80% of the coins were mined. When she upped the coins to 120 Billion total coins, if she used the old number, she wouldn't have 2% of the total amount of coins mined from this new total. If you think that this is enough, let alone Ruja, to do an IPO then I want some of what all of you are smoking or taking.
What's funny is you are trying to make it sound like these are my numbers when those numbers were the ones provided by Ruja from the big London event. So the 80% figure was just for show, not a real and hard fast number. You are also forgetting that for OC to do an IPO there have to be coins available for the masses, and there are not enough coins mined to do an IPO in the next 18-24 months.

ANSWER BU IgorKrnic
Dude, 80% mined coins to go public is part of old roadmap, since Jan2015 until Oct2016.
London was held in June 2016 where she announced new blockchain and she clearly SAID Onecoin will go public in TWO years (2018), not at 80% coins. You are confused.


EagleOne wrote:I'm sure when Ruja figures out that 50,000 coins per minute is not enough to hit the goal of an IPO by the end of 2018, she will up the production numbers to make it look like they will.

ANSWER BY IgorKrnic
Again, Onecoin is going public in 2018, that was announced in London event June 11 2016. No one spoke about 80% of mined coins in the NEW blockchain. Also, IPO has nothing to do with cryptocurrency. It is the company that wants to list on the stock exchange, Onecoin cryptocurrency will go public at the xcoinx exchange, and later maybe to others


EagleOne wrote:You still don't get it, that the more you post the more ignorant you sound.
ANSWER BY IgorKrnic
Well at this one, I am gonna have to ask you what do you smoke and let me some so I read with your eyes. But you write all this cause you just don't read what I write. And you are 99% at being banned here cause I am just wasting my time and energy with you.

EagleOne
Posts: 88
Joined: Tue Jul 04, 2017 11:35 pm

Re: FACTS about OneCoin by EagleOne user

Post by EagleOne » Mon Aug 28, 2017 7:22 pm

Oh, and your claim that Ruja and her father were not criminally convicted....well not true:

"Probation for casting boss

Court about three years after the collapse of the Waltenhofen company sets an opinion now marks the conclusion of the matter: A year and two months. Also indicted father has to pay fine

By Sabine Beck

Waltenhofen / Augsburg as the prosecutor at the end of "a yet certain criminal energy" speaks, the former head of Waltenhofen casting plant disfiguration short the dark red painted mouth. Otherwise they pursued without noticeable movement the one-hour hearing, which will be performed this Tuesday against them. The judgment, which announces the Augsburg magistrate Elke Bethge after a short pause, exactly corresponds to what they had announced at the beginning of the hearing: one year and two months on probation. Given a fine of EUR 18 000 to the state. The accused also father of ex-CEO will receive an order of punishment over EUR 12 000. He takes on health grounds not participate in the negotiations.

That one takes place of the originally planned five hearings and gives its judgment immediately, has a reason: Before the session begins, the representatives of prosecutor, defense and court have met three times already. The consultation: a penalty of between one and two months and a year and ten months, when the 35-year-old defendant admits. For them and their father is ultimately about delayed filing to insolvency , 24 cases of fraud by suppliers as well as violation of the accounting requirement. Withholding and embezzlement of wages were also part of the prosecution. However, after the consultation is omitted this point: The damage of almost EUR 163 0000 is now almost settled.

With almost EUR 430 000 to the damage suffered suppliers located. For the director and her father, who was at times also registered as Managing Director, awarded further contracts - even though they knew that they could not pay. Only for yourself and more of them run companies abroad, according to an in Kempten detective in court, paid it studiously until the final bills. For example, for acting as an adviser.

Had brought to light the cast broke and the inconsistencies in the environment, the savings bank and the IG Metall. Two ads there. One of the bank due to credit fraud, because money was not used as planned. And one of the union for wrongful. These, as well as fraud and violation of the accounting obligation admits the 35-year-old former CEO. Your defense outlined their career who with her family in 1990 first introduced the native Bulgarian in the Black Forest. After studying law and economics, the young woman worked first time for a consulting company. In spring 2010, she bought the casting, which it had initially have a good chance. But when the financial problems came, it had grown simply over his head the cause. In January 2012, the cast was finally broke. 80 employees lost their jobs.

Great company, great harm

"Companies now fail once and for large companies and the damage is just great," says the defender and also that the suspect his client wanted to get rich, have never been confirmed. Delayed filing to insolvency is consistent in his eyes, because the deadlines were so short. And he asks: "Where is the criminal energy at supplier fraud in the crisis? "

The prosecutor sees the criminal energy of the accused that the now 35-year-old had stopped immediately after the bankruptcy abroad. Well temporarily to London with her husband, from whom she is separated today. Currently they live according to their defense of 3500 euros net per month in Dubai, where she consults entrepreneurs.

The last word of the 35-year-old falls from scarce. "I agree with the statements," she says quietly after pleading her lawyer before going into the break before the verdict. The judge thus remains at the lower end of the agreed penalty framework. The reasons: The 35-year-old has kept to the agreement - and it has a positive social prognosis."


So much for her lie they "saved" the company.


ANSWER BY IgorKrnic
Link the original document and we can analyze it, not gonna comment this GerlachReport-like text with no source.

CryptoXpose
Posts: 119
Joined: Wed Jun 21, 2017 1:54 pm

Re: FACTS about OneCoin by EagleOne user

Post by CryptoXpose » Mon Aug 28, 2017 7:50 pm

CryptoXpose wrote:I'm not interested in discussing in this forum anymore regularly, because of bannings and message deletings. This I will however comment
ANSWER by IgorKrnic
Thank you, I really cooled my head these 7ish days cause you are really a mental case and were drawing my energy too much with your opinions and anger. And FYI, I deleted off topics and I deleted more of my text.

CryptoXpose wrote:
Igorkrnic wrote:
Mon Aug 28, 2017 11:20 am
First of all, the blockchain mines 50000 OC per minute, not 10000. That means 72Million per day, around 26Billion per year.
A blockchain doesn't mine anything. Blockchain is a ledger.
ANSWER BY IgorKrnic
I can't believe that I need to draw everything. When I write "blockchain mines coins" I actually expect you "experts" to know what that means.
Mining is nothing but block reward collection by persons who contributed hash power to find the block! Mining is done by those people's hardware that uses the software and find solution for a mathematical calculation that uses the results of previous block solutions, so there's no way to pre-calculate answers for a future block without knowing the solution to the previous block. This history of block solutions and transactions constitutes the blockchain, a sort of public ledger. A single block contains cryptographic signatures for the block and the transactions within the block. The transactions are collected from the network, typically with a small fee attached, which also becomes part of the block reward.
There's a difficulty value attached to the solution for a block as well, which can scale up/down over time, the goal being to keep the rate of generation of new blocks relatively constant. It is way simpler for simple people to understand "blockchain mining" than the full explanation.
But you like to bark where ever you can. Jesus...

CryptoXpose wrote:But one very good question is, what is OneCoin mining?
OneCoin.eu refers in its FAQ section to Bitcoin, but in Bitcoin you don't really mine coins. Mining is the process of finding the next block to the blockchain, from that the party who finds a correct block gets coins as reward/bounty. Pre-mined means that the coins are created beforehand, but there's not really any such mathematicaly complex mining process for that. The math and computer power is needed for finding the next block in blockchain, but in totally centralized system there's no computational competition so no significant amount of computer power is needed.

It's really kind of ridiculous that OneCoin says 50000 coins are mined every minute. What does "mining coins" in OneCoin means exactly? All coins could just as well be "pre-mined", because OneCoin is centralized and there's no computational competition for that reason. The company already created 1986580000 coins as "pre-mined" in October 1st 2016, why not all?
ANSWER BY IgorKrnic
Well seems like from this paragraph and my explanation above, we agree on what mining actually is and how any coin/token is created.
Knowing that, we can transfer it to the Onecoin blockchain.
Onecoin is a company that made a custom software, they own hardware that runs their custom blockchain software and nodes.
Using their own software, they are a sole miner, they are alone in competition and they are alone in finding each block each minute and collect the reward of 50000 OC. So Onecoin made a block reward 50000 OC. Being the only miners they collect each reward.
For instance, Ethereum has around 16 seconds blocks and give a reward of 5ETH but at Bitcoin, blocks rewards used to be 50 BTC but they implemented halving every 4 years so right not Bitcoin block reward is 12.75 and since 2019 and until the end, it will be 6.25.
So Difficulty exists to maintain block finding time stable, the more miners join, the higher the difficulty is, the fewer miner exists, the lower the difficulty is.
Since Onecoin is the only miner, blockchain mining difficulty is not changed and has nothing to do with back office difficulty at onelife.eu.
They want to keep it like that and that is why the blockchain is so closed. If one person would manage to join mining, it would collect 25000 OC per minute and that would be bad cause you would need around Tycoon+Premium education package that costs 19000 EUR to obtain 25000 OC and this miner would make it literally for free. By understanding this you can realize how important is not to mess with blockchain trnsparency too much during this ICO period.
Probably, when they go public they will simply switch to Proof of Stake so we might now see those 120B Onecoin after all but that was just my opinion, cause they can not open blockchian at current Proof of Work system cause people would be able to join mining and first miners would be able to collect so many coins for free rendering ICO participants that paid for education in unfair position.
As for pre-mining. Sure, they could have pre-mined all coins but they did not, I trust they know why and there is nothing wrong with Genesis block to pre-mine as much as you need. For example, EOS will sell who knows how many millions of ethereum ERC20 tokens during ICO but they can not have anything to do with the actual EOS blockchain and they will pre-mine EOS tokens at the same number as all those sold ICO erc20 tokens in the Genesis block. And yet, they will still have a value cause people matter. People participated ICO and they created value. So it is double standard bashing at Onecoin as there is no blockckchain cause it is not even important during ICO, but unfortunately for you, Onecoin has a blockchain, you just can not fart in it yet. Keep calm.

CryptoXpose wrote:In my opinion the answer is simply, that they need the "mining process" artifically take unnecessary amount of time, and make members actually believe that the members are creating the coins and that's why they get it so cheap vs Ruja's (fake) announced the price
ANSWER BY IgorKrnic
As I always say, I respect peoples opinions but I must disagree here.
You are constantly ignoring important information from Ruja. She clearly explained why all this takes time. They do not want to make a rush project cause it would be possible to bubble it just like any other cryptos. Seems like Ripple and SiaCoin can not be bubbled so easily cause they have so many Billions of coins. So we can argue that Rujas decision was good.
Yes, she could pre-mine all coins but then you would bark all around cause she pre-mined coins... you will never stop so deal with it, she chose to be the only blockchain reward collector at Proof of Work and users are given unique chance to "join mining".
And this is another important information that you ignored. Ruja does not want to make just another geek coin so only IT experts who know how to join mining with hardware can participate. They wanted anyone to be able to join and that is why she invented this token system where you can exchange tokens to onecoin. So users are not actually mining. They are paying cash for education product that has some real life usage value for certain people who want it, and they receive tokens that can be exchanged to onecoins. All other benefits like splits, large packs, etc are just a courtesy from the company and are good, not bad.

CryptoXpose wrote:
Igorkrnic wrote:
Mon Aug 28, 2017 11:20 am
In case you do not know how mined Onecoins are distributed read
Nobody knows how OneCoins are distributed. It's totally non-transparent. The company doesn't announce what percentage of coins the company has in its own possession and what percentage the memebrs have (if we ignore the fact that in reality all OneCoins are in possession of the company, as the members have no true control over their coins).
That would be like the number #1 issue on the list: "How to spot ICO scams".
ANSWER BY IgorKrnic
Actually, we do know how onecoins are distributed. Anyone who has some Onetokens can obtain onecoins at the rate (they call it difficulty just to make an ambient of mining in my opinion) of x tokens per Onecoin. Also, EVERYONE knows exactly how many Onecoin HE/SHE has. What we don't know is a total number of Onecoins that is owned by users and I disagree this would fit into "ICO scam detections", it could probably be a red flag to some paranoid people, nothing else. But this might change according to my writings with compliance. Just IT sector is on vacation. I don't think they are hiding this info, it is just they have more important things to go and this info is not important for the project at all.
These info will be known when the time comes.

slobodanboda
Posts: 47
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Re: FACTS about OneCoin by EagleOne user

Post by slobodanboda » Mon Aug 28, 2017 9:26 pm

EagleOne wrote:
Mon Aug 28, 2017 7:13 pm
It is so hard to keep up with Ruja's lies. OK, let's take 50,000 per minute, that still means the earliest an IPO could be done is late 2020 or early 2021.

Ruja was the one who said that an IPO would not be done until 80% of the coins were mined. When she upped the coins to 120 Billion total coins, if she used the old number, she wouldn't have 2% of the total amount of coins mined from this new total. If you think that this is enough, let alone Ruja, to do an IPO then I want some of what all of you are smoking or taking.

What's funny is you are trying to make it sound like these are my numbers when those numbers were the ones provided by Ruja from the big London event. So the 80% figure was just for show, not a real and hard fast number. You are also forgetting that for OC to do an IPO there have to be coins available for the masses, and there are not enough coins mined to do an IPO in the next 18-24 months.

I'm sure when Ruja figures out that 50,000 coins per minute is not enough to hit the goal of an IPO by the end of 2018, she will up the production numbers to make it look like they will.

You still don't get it, that the more you post the more ignorant you sound.
YOUR ONE THING IS CORRECT: if she used the old number".
SO, AGAIN YOU JUST USE YOUR ILLUSION AS A FACT.
NOBODY SAID THAT WILL BE 80% BEFORE IPO.

EagleOne
Posts: 88
Joined: Tue Jul 04, 2017 11:35 pm

Re: FACTS about OneCoin by EagleOne user

Post by EagleOne » Mon Aug 28, 2017 10:12 pm

slobodanboda wrote:
Mon Aug 28, 2017 9:26 pm
YOUR ONE THING IS CORRECT: if she used the old number".
SO, AGAIN YOU JUST USE YOUR ILLUSION AS A FACT.
NOBODY SAID THAT WILL BE 80% BEFORE IPO.
EagleOne wrote:You really need to read what Ruja said in its entirety before claiming you know what she said. She elaborated that without having at least 80% of the coins mined, there would not be enough coins for the IPO for the masses. So you had to have 80% of the coins before an IPO could be done. Her words not mine. The current so=called level of OneCoins and within the next 24 months is not enough to do an IPO. Actually, there will never be any OneCoins to do an IPO, but more on that later.

ANSWER BY IgorKrnic
We are not at the same page here:
1) Going public at 80% coins mined was the plan during old blockchain so since Jan2015 - Oct2016. IPO was not mentioned back then. You are confused. But feel free to link a video with your statements and we can discuss.
2) Since Oct2016, we all learned that the roadmap changed because all the coins were owned by users, the company did not have any spare coins and no coins would be available for merchants in case they would like to obtain some I guess. Although, in my opinion, merchants could just buy Onecoins at the exchange. But IPO was mentioned the first time in Jan2017 and at this time, everyone knew that Onecoin is not going public at 80% mined coins, it was known that it will be sometime 2018, not 80% of mined coins in the current blockchain.


EagleOne wrote:As CryptoXpose has pointed out, neither you nor Igor understand what a blockchain does or how it works. You can thank him for explaining and educating you both on what it is and how it works.

ANSWER By IgorKrnic
Feel free to read my answers to his "education" and say this again.


EagleOne wrote:As I previously said, there are no OneCoins. Never has been and never will be. It is all smoke and mirrors to steal your money, and steal it they did. And it is not going to be much longer before you wake-up and realize it. That day is fast approaching, and then we'll see how wonderful you think Ruja is and was.
ANSWER BY IgorKrnic
Nah, this scare tactic does not work here. EOS is ICO that sells Ethereum erc20 tokens to people and after ICO they will simply pre-mine real EOS tokens in the actual EOS blockchain that does not even exist yet and it is all fine. So let's say Onecoin does not have a blockchain now, so they will obtain one in 2018, start it, pre-mine all coins in genesis block in the number needed to match coins obtained by the users so far via tokens and let's roll.
But that is not the case, simply cause they know and say that there is a working blockchain that suits current needs.

EagleOne
Posts: 88
Joined: Tue Jul 04, 2017 11:35 pm

Re: FACTS about OneCoin by EagleOne user

Post by EagleOne » Mon Aug 28, 2017 10:23 pm

Now that Zafar has had plenty of time to solve his passport issue, cough-cough, I am stunned that he has not scheduled meetings in India. After all he is not afraid of the Indian authorities, and it was only his passport issue that stopped him from going. So looking forward to his announcement of the dates and times he will be in India and where he'll be doing his seminars.

You can relax, I know he is not going. He doesn't have the cajones to go. He's scared he would be arrested. He won't be going back to Pakistan either now that they have turned up the heat there. And we still are waiting for Ruja to work with the authorities about her chargesheet. Wonder if OC lawyer will go with her so they both can handle their charges against them at the same time? Might as well kill two birds with one stone so to speak.


ANSWER BY IgorKrnic
Why don't you ask him why does he not go to India? He is part of Onelife, not Onecoin anyway. I do not really have sympathies to many Onelife leaders cause they tell crap too often.

slobodanboda
Posts: 47
Joined: Tue Aug 08, 2017 9:54 am

Re: FACTS about OneCoin by EagleOne user

Post by slobodanboda » Mon Aug 28, 2017 11:13 pm


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