Bitcon Toilet FLUSH

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
Igorkrnic
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Re: Bitcon Toilet FLUSH

Post by Igorkrnic » Mon Dec 25, 2017 12:24 am

Lol I didnt see this thread :D
Yeah, Bitcoin is far from its whitepaper and a currency and it is sad. That is what they call "freedom" and decentralization. My ass...

There is centralization to it and I hope people realize it soon. Btw, I am not such big fan of using cryptos and spending them via debit cards and immediately exchanged to FIAT. I mean what is the point of crypto then? SO we trade cryptos, earn money there and we spend it like fiat with cards :D

Btw, we need to keep in mind that those cards we can use only within liquidity limits of exchanges and I hope sane people realize that no exchange can come even close to the smallest bank as far as liquidity is in question. We can see exchanges stopping new registrations lately and stopping trading some coins if they go up too high (lol) or even going into "maintenance" mode when people start selling off BTC at $20k

Here is an example of recent ICO decentralized exchange admitting that centralization can not work cause the more traffic you have, the higher fees go so they need to switch to "semi centralized mode"

Lykke Changes Operational Mode

Richard Olsen, Lykke founder and CEO

Blockchain technology has been revolutionary. In every industry that has embraced it, we have seen more efficient business processes, more equitable distribution of resources, and a renewed spirit of innovation.

Along with 40% growth of Lykke user base in December, scalability challenges have arisen. As you may have heard, mining fees and transaction times have recently skyrocketed, and the whole industry is now scrambling to find solutions to make blockchains more efficient. Let’s talk numbers: since Lykke Exchange was launched in June 2016, we’ve seen Bitcoin transaction fees increase bymore than 24,000%. In first three weeks of December 2017 alone, Lykke has paid more 45 BTC (around USD 740,000) in fees for offchain settlement channels.

Even with those extreme fees, Lykke is breaking even this year, but we could be channeling these funds into new features and products and delivering returns to our investors. Lykke is currently the only exchange to be semi-decentralized and to offer 0% commission to its users. Both of these are core to our philosophy, but right now our main priority is ensuring that Lykke Exchange is functional and accessible to everyone. These considerations led us to decide to switch our exchange to a centralized model.

This is a difficult choice for us, and we did not make it lightly. But we believe this temporary change will improve users’ trading experience while letting us plan our future. We understand that many of you, our investors, partners, and community members, feel as passionate about decentralization as we do. We will switch back to a semi-decentralized model as soon as an efficient and sustainable solution is in reach. We aim to deliver the efficiency and speed of a centralized architecture with the security and individual ownership of a decentralized one.

Security is a primary concern for us, and the move to a centralized exchange carries some additional risks. We will mitigate these by introducing the multisig cold storage to keep 90% of clients funds. Encrypted signatures for the hotwallet are located on a dedicated server.

In order to reduce the impact on our exchange users, we have worked to make the transition as seamless as possible. Here is what you can expect:

We will first make the transition to a centralised model for BTC. The same process will be executed for ETH in the near future.

For the BTC transition, Lykke Exchange will be under maintenance from December 22 19:00 to December 23 01:00 UTC. Once the service is restored, you will see detailed instructions in the app.

We leave to our users the freedom to choose whether they want to use their BTC funds with Lykke’s new centralized exchange model or to withdraw them to any BTC private wallet.

In case the user agrees to use centralized Lykke Exchange model, there would be no difference in the trading process and deposit wallet address. The user can continue trading.All the users who choose not to use centralized Lykke Exchange model can transfer BTC from the Lykke Trading Wallet to any external BTC address. For these users, Lykke Wallet will no longer be usable for trading BTC.

We appreciate you bearing with us through these changes. Serving our community has always been our top priority, and we invite you to contact us with questions, thoughts, or concerns at [email protected].

The Terms of use have been updated accordingly ( Terms of use). By proceeding to use Lykke products you accept the updated Terms of use.

Berg
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Re: Bitcon Toilet FLUSH

Post by Berg » Thu Dec 28, 2017 12:30 pm

flatrate wrote:
Fri Dec 22, 2017 3:42 pm
This is a good lesson in why you can not let inmates run a jail. I assume the powers that be hyped it up enough to get the sheep in this scam and pulled the plug. Not so hard to corral sheep man.

Bitcon should not even be called a currency at this point. Useless speculation scam is all i see

I just watched it move $1000 in about 7 minutes - some of the spreads were $150.. what a forking scam..

margin calls for Bitcon trading will be enormous..

The next time someone compares Bitcoin to Onecoin slap them hard..Unless your an insider with shorting capabilities and deep pockets you are wiped out son in a couple of hours. :P :P :P :P



I keep track of how prices are moving. Because everybody said that 2018 will be LOL for the crypto markets.
It is very strange how before few days the price of BTC was constantly growing. Now, there is a drop every day.

I don't know what caused this?

The Igor's article is rather useful ...
Spending cryptos with cards is maybe easier and comfortable, but I'm not sure how securely it is...

flatrate
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Re: Bitcon Toilet FLUSH

Post by flatrate » Thu Dec 28, 2017 3:59 pm

Berg,

We can all speculate on what is going on with Bitcon price but the facts are is that very few people have capability to move it the way it gets moved. We all know that Merchants or normal people are not moving price around because they do not have any merchants to speak of that would expose themselves to this shiteshow and normal people can't afford it and just simply do not have the ownership of Bitcon to be a price driving engine.

IMO, the entire space is smoke/mirrors run by highly advanced digital robots that do the buying/selling on most days unless a whale or two decides to buy in or get out.. If you have noticed news does not appear to move the Bitcon scam any longer either.

One thing is for certain is that Bitcon is NOT NOT NOT a currency..

Igorkrnic
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Re: Bitcon Toilet FLUSH

Post by Igorkrnic » Thu Dec 28, 2017 4:10 pm

Every crypto that lists on btc exchanges too early after ICO at low price is consumed at the beginning by whales that just sleep and wait for the community to bring up the price and they wait to dump. They do not want to crash market intentionally, they simply go for their profit.
That is why it is good that onecoin makes closed community and price for 4 years and then open up with determined relatively high price so they do not attract whales. Not to mention to put limits to ban oversell or buy.

Here is how 2 addresses hold 100k-1million btc. WE TRUST THEM :)

Image

CryptoXpose2
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Re: Bitcon Toilet FLUSH

Post by CryptoXpose2 » Thu Dec 28, 2017 4:16 pm

Igorkrnic wrote:
Thu Dec 28, 2017 4:10 pm

Here is how 2 addresses hold 100k-1million btc. WE TRUST THEM :)
Well, I trust 2 anonymous whales much more than Ruja and Sebastian, who can do what ever they want, with as many coins as they want, and nobody will even see it.

Ruja and Sebastian have already history in several schemes where top people win and investors lose, like Loopium, OPN, SiteTalk/Unaico, BigCoin, so yeah, I would choose even 2 anonymous over Ruja and Sebastian.
Last edited by CryptoXpose2 on Thu Dec 28, 2017 4:33 pm, edited 3 times in total.

flatrate
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Re: Bitcon Toilet FLUSH

Post by flatrate » Thu Dec 28, 2017 4:21 pm

Exactly IGOR,
Being at the mercy of syndicated day trading robots is not where ONE will be or wants to be.. Damn, they go up and down not on the coin prospects but on an algo that is superior. When you have such a concentrated group holding most coins they control everything.

IMO, everyone thinks selling will be overwhelming come Oct. 8th and that may be the case, but I do not agree. ONE will hopefully attract people/funds/managers that want a stable hopefully regulated coin outside the cowboy bitcon markets.. The company has a lot of work to do to keep price stable and that remains to be seen.

critical thinking without hype.. that is what this debate was supposed to be about, not some basement dweller copy/pasting junk from Mr Honesty.. :)

Igorkrnic
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Re: Bitcon Toilet FLUSH

Post by Igorkrnic » Thu Dec 28, 2017 4:34 pm

CryptoXpose2 wrote:
Thu Dec 28, 2017 4:16 pm
Igorkrnic wrote:
Thu Dec 28, 2017 4:10 pm

Here is how 2 addresses hold 100k-1million btc. WE TRUST THEM :)

Well, I trust 2 anonymous whales much more than Ruja and Sebastian, who can do what ever they want, with as many coins as they want, and nobody will even see it.

This is crazy. There is nothing to trust. We KNOW for a fact that they are into profit and will one day take it.

At least Onecoin claims to protect stability and work with govs. Sebastian is not so important. He was the one who persuaded Ruja to go mlm and he was 001. I heard he is retireing.

CryptoXpose2
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Re: Bitcon Toilet FLUSH

Post by CryptoXpose2 » Thu Dec 28, 2017 4:40 pm

We know for a fact that Ruja and Sebastian have already worked for profit several times in different schemes. Nothing wrong with working for profit, except all the investors lost pretty much everything. :mrgreen:

Who in Onecoin is working with governments? Konstantin? :mrgreen:

Bitcoin whale situation is bad, but is it really in their interest to crush the price with mass sale? Why would they do that instead of profiting bigger by selling during longer time span?

Onecoin situation is much more uncertain. Top people willing to profit may want to try to do it as soon as possible. Because it doesn't look like Onecoin will attract millions of new people to satisfy the sell demand, zero signs for that. Top people may want to try selling as much as they can in the beginning, prioritizing only their coins, and then to next scheme..

Igorkrnic
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Re: Bitcon Toilet FLUSH

Post by Igorkrnic » Thu Dec 28, 2017 5:23 pm

There are many people in the company that you really better stop this cause you are being ridiculous so there are people who will work with govs of course. No need for Constantin himself to do it. IMO he is a temporar public person only.

Yes, Ruja and Sebastian did work for profit, the company also will generate more profit from transactions later, just like miners in bitcoin do.
But they will for sure seek no profit from price manipulation.

flatrate
Posts: 348
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Re: Bitcon Toilet FLUSH

Post by flatrate » Thu Dec 28, 2017 6:22 pm

To make a bit more clear about what a scam Bitcon truly is lets be honest with this scam.
2.68% of wallets control or hold 96% of all Bitcoin

Looks like another fake fork assembled by a bunch of anonymous core developer billionaires will create more Bitcon out of thin air with Segwit2X
https://www.youtube.com/watch?v=xDtOvRF8ZFA

Yep, I'll take ruja and company over this bloated scam thank you very much :lol: :lol: :lol: :lol:

How about that Mr. Honesty will these facts help your agenda with the authorities you are working with ? :P :P

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