Is OneCoin a ponzi scheme

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: 113
Joined: Tue Jul 04, 2017 11:35 pm

Re: Is OneCoin a ponzi scheme

Post by EagleOne » Fri Jul 07, 2017 7:49 pm

Igorkrnic, so let me get this straight. Your claim is that you know more than any government agency that regulates what is and what is not an investment, what is and what is not a Ponzi, what is and what is not an illegal pyramid scheme when you said in reply to my question which I have included for people reading this, and I quote:

A quick question for you Igorkrnic: If a law enforcement agency from any country announces that OneCoin is a Ponzi, would you agree it is a Ponzi?

Of course not. Just look up what ponzi is and what Onecoin is doing. No ponzi element anywhere cause the company itself makes no promises and it sure does not need new money to be able to pay old people.

If some corrupted government was to declare it ponzi that would be:
1) bitcoin is strong there and they received money
2) they don't have a clue of what ponzi is and what onecoin is doing....


So you are smarter than all the regulatory agencies in the world? Seriously?

Igorkrnic
Site Admin
Posts: 283
Joined: Wed Jun 14, 2017 7:47 pm

Re: Is OneCoin a ponzi scheme

Post by Igorkrnic » Fri Jul 07, 2017 8:13 pm

Your short question to me was driven by your hope that Netherlands "verdict" is true although it is known what idiots write on Gerlacht reports, it is funny how you skip addressing that and how you are going off topic avoiding to give answers to my response and trying to steer the conversation towards a direct attack on me.

This has nothing to do with me. I state my observations and opinions here. Just like you. People will decide what to believe in.

1) I already said all we need to do is take a look what ponzi actually is and compare Onecoin and Onelife system to it. It is here.
PLEASE write in short which part of Onecoin shows you that company needs new money to be able to pay old people?

2) I already said all we need to do is take a look what pyramid actually is and compare Onecoin and Onelife system to it. It is here.
PLEASE write in short which part of Onelife shows you that you can only earn money by recruiting people?

It is not if I am smarter, all definitions and facts are there, just clearly answer my two questions.

Seems like you do not care about truth and just pray that some government rules Onelife is ponzi or pyramid and that country will all of the sudden become the most credible government in the world for you.
But I just gave you my honest answer, I don't think any government will rule that way if they make a real investigation on the company itself.
If they only speak to bitcoiners and make a verdict based on their statements, I would question that verdict for sure :)
At least, such corrupt verdict would be very hard to duplicate all over the world ;)

EagleOne
Posts: 113
Joined: Tue Jul 04, 2017 11:35 pm

Re: Is OneCoin a ponzi scheme

Post by EagleOne » Sat Jul 08, 2017 2:43 am

I said it was a FACT that OneCoin was banned in Germany. You said that was not true as only their payment processor was shut down. I then posted the BaFin announcement that OneCoin was banned in Germany. Then you tried to say that they can still offer educational material. This is a lie, just as you saying that OneCoin was not banned in Germany. Those are FACTS.

EagleOne
Posts: 113
Joined: Tue Jul 04, 2017 11:35 pm

Re: Is OneCoin a ponzi scheme

Post by EagleOne » Sat Jul 08, 2017 2:50 am

You keep claiming that OneCoin is not a Ponzi and no regulatory or law enforcement agency has stated that OneCoin is a Ponzi. Well, here's what the Bangladesh authorities had to say about OneCoin when they arrested two promoters of OneCoin and I quote:

"Following an investigation by the Dhaka Metropolitan Police (DMP) Counter Terrorism Unit, two OneCoin investors have been arrested in Bangladesh. Officers of the DMP’s Counter Terrorism Unit, Cyber Security and Cyber Crime Intelligence agencies had been monitoring what they refer to as an “MLM fraud gang” for some time. On Wednesday June 15th at approximately 10pm, DMP officers arrested Nazrul Islam Mamun and Zahirul Islam Zahir. The suspects stand accused of promoting the OneCoin, Ilgamos and ImpaxGold PONZI schemes."

I capitalized the word Ponzi so you wouldn't miss it.

Igorkrnic
Site Admin
Posts: 283
Joined: Wed Jun 14, 2017 7:47 pm

Re: Is OneCoin a ponzi scheme

Post by Igorkrnic » Sat Jul 08, 2017 10:46 am

EagleOne wrote:
Sat Jul 08, 2017 2:43 am
I said it was a FACT that OneCoin was banned in Germany. You said that was not true as only their payment processor was shut down. I then posted the BaFin announcement that OneCoin was banned in Germany. Then you tried to say that they can still offer educational material. This is a lie, just as you saying that OneCoin was not banned in Germany. Those are FACTS.
You are losing your grounds m8. You are putting your words into my mouth. That is a lie in fact. Here is what I said about Germany:
IgorKrnic wrote:
EagleOne wrote:
Thu Jul 06, 2017 11:03 pm
Here's a real simple question for you to answer: Can OneCoin do business in Germany? Yes or No
Onecoin can not do business ANYWHERE cause it is closed private cryptocurrency. It will be when they hit public trading and company goes IPO.
By then they can even get Bafin license none of us can say that.

For now, it is a fact that Onelife CAN sell education in Germany, but without giving free tokens cause Bafin did not state clear about Onecoin trading cause there is no trading. Onelife stopped giving promo tokens as a precaution until the case is resolved.

So Conclusion about Germany is that in fact, Onecoin can not be distributed there, but that has nothing to do with Onecoin being ponzi or scam, it is simply because Onecoin does not have a license from Bafin and that can change and you know it
IgorKrnic wrote:
EagleOne wrote:
Thu Jul 06, 2017 11:16 am
GERMANY: Date: 27.04.2017 BaFin Order:
Onecoin Ltd, Dubai, and OneLife Network Ltd, Belize to dismantle their internet based “OneCoins” trading system and to end all sales promotion activities in Germany immediately.

At the same time, BaFin issued a cease and desist order against One Network Services Ltd, Sofia/Bulgaria for the latter’s involvement in the unauthorized trading of “OneCoins” by Onecoin Ltd, Dubai, and OneLife Network Ltd, Belize.
Did you intentionally fail to quote text that describes WHY did they issue cease and desist?Here is the source link
I will quote:
Today’s cease and desist orders are based on the conclusion that the way Onecoin Ltd, Dubai, and OneLife Network Ltd, Belize have “OneCoins” traded as virtual currency in Germany comes down to Eigenhandel (own funds trading) of financial instruments in the meaning of § 1 (1a) sentence 2 no. 4 of the German Federal Banking Act (“KWG”). Eigenhandel as financial service would have required prior authorization by BaFin according to § 32 (1) KWG.
Meaning: Onelife needs to obtain Bafin license in order to trade with Onecoins. Of course, no one trades with onecoins in the first place but never the less, there is a solution for this. The company needs to obtain a license from Bafin before public trading. Let's see what will they do.
So I will quote one sentence from my first quote:
So Conclusion about Germany is that in fact, Onecoin can not be distributed there, but that has nothing to do with Onecoin being ponzi or scam, it is simply because Onecoin does not have a license from Bafin and that can change and you know it
Please stop putting words in my mouth. And Germany "ban" is not cause it is a ponzy or a pyramid, it is because Bafin needs to give a license first.
This is not my opinion, it is a FACT and they wrote it themselves:
BaFin wrote:
Today’s cease and desist orders are based on the conclusion that the way Onecoin Ltd, Dubai, and OneLife Network Ltd, Belize have “OneCoins” traded as virtual currency in Germany comes down to Eigenhandel (own funds trading) of financial instruments in the meaning of § 1 (1a) sentence 2 no. 4 of the German Federal Banking Act (“KWG”). Eigenhandel as financial service would have required prior authorization by BaFin according to § 32 (1) KWG.

Igorkrnic
Site Admin
Posts: 283
Joined: Wed Jun 14, 2017 7:47 pm

Re: Is OneCoin a ponzi scheme

Post by Igorkrnic » Sat Jul 08, 2017 11:45 am

EagleOne wrote:
Sat Jul 08, 2017 2:50 am
You keep claiming that OneCoin is not a Ponzi and no regulatory or law enforcement agency has stated that OneCoin is a Ponzi. Well, here's what the Bangladesh authorities had to say about OneCoin when they arrested two promoters of OneCoin and I quote:

"Following an investigation by the Dhaka Metropolitan Police (DMP) Counter Terrorism Unit, two OneCoin investors have been arrested in Bangladesh. Officers of the DMP’s Counter Terrorism Unit, Cyber Security and Cyber Crime Intelligence agencies had been monitoring what they refer to as an “MLM fraud gang” for some time. On Wednesday June 15th at approximately 10pm, DMP officers arrested Nazrul Islam Mamun and Zahirul Islam Zahir. The suspects stand accused of promoting the OneCoin, Ilgamos and ImpaxGold PONZI schemes."

I capitalized the word Ponzi so you wouldn't miss it.
Thank you very much for such posts. It is actually very helpful for objective people to see what responses onecoin haters make when they run out of arguments for my answers or questions.

What you quoted there is mixed and made up part od behindMLM news, not an official Bangladesh government statement.

In fact, the last sentence where you capitalized word PONZI was written by Oz, the owner, and author of behindMLM, original source is here. That is not Bangladesh official verdict. That is Oz's opinion. Shove it ;)
Image

Now let's take a look on what the actual Bangladesh article says, original link here
In the initial interrogation, the arrested persons said, along with Amin, Mohsin and Salam, the foreign website http://impaxgold.com, https://www.facebook.com/ilgamosbd, http://ilgamos.com Mahtab Farahi and Sajid Afrin Arman Https://www.facebook.com/ilgamosbd, http://ilgamos.com and Yusuf Didar have grabbed huge amounts of money by tricking the general public to get a lot of money by cheating people at https: //www.onecoin.com.
So, the first thing that comes to my attention is that behindMLM relayed this news as titled:
"OneCoin investors arrested in Bangladesh". This is what I am talking about. Most of anti onecoin "news" are twisted and misleading.
First of all, there are no investors in Onecoin/Onelife. People buy an education that you are so free not to like and deny, but it is a legal product. If someone is promoting Onecoin as investment please report him to legal@onelife.eu cause he is doing it unlawfully.
This original article is not about Onecoin at all as behingMLM implies. The original article is about arresting those people who used multiple ways to con people online.
They first mention "http://impaxgold.com" it is offline, then "http://ilgamos.com", it seems to be some digital currency, I will not go into it cause I don't know it, but since Oz wrote about it already they are probably some honest project slandered by dogs of the internet too.

And at the end they mention onecoin.com. So you guys manipulated this news all about Onecoin where onecoin was only mentioned as one of the ways those guys used to lie to people and take their money.
But seems like only one guy Yusuf Didar used onecoin.com to fraud people. He probably made huge promises and took money from people.
It is unclear if buyers got their education and onecoins. If they did, they can find out they are on a good path. But if they were lured to pay something that they don't understand, and they think they will get rich in 2018 then they were conned.
Although he needs to be arrested for this, I blame those stupid people that believe in lies and guaranteed profits. Onecoin as a company makes no guaranties, promises and they forbid it. So this case happens to be isolated case of people working against company's rules. He was probably not even Onelife IMA, just some independent fraudster.

So looks like the same case as former arrests in China that some people were arrested for fraud investments collecting but happen to work with onecoin too and thus onecoin was mentioned and behindMLM made news all about onecoin ;)
In the interrogation, they said, Many of their gangs are 'illegal destony' former MLM member Their inspiration started with the launch of this digital MLM and Bitcoin. They make IDs for a specific dollar in exchange by making them members of the general members. Later they were asked to collect their members. By making them a subordinate right and left member, money is taken from them at a fixed rate. Thus, in the form of top down chain digital MLM system, it is spread through cryptocurrency (Bitcoin)
Here we can clearly see they were taking people's money via various scam or pyramid models using Bitcoin too. This is not only happening in Bangladesh. Also Bolivia arrested Bitcoiner scammers.

There is your Bangladesh conviction. Some fraudsters that worked many fraud systems and happened to use onecoin in a bad forbidden way probably, and Oz makes a sentence that they were arrested for using ponzi and you write it here as a FACT. Oh boy.

Please come back when you have some official source link, not some mumbo jumbo personal opinions.
And you still did not answer my 2 questions.

1) I already said all we need to do is take a look what ponzi actually is and compare Onecoin and Onelife system to it. It is here.
PLEASE write in short which part of Onecoin shows you that company needs new money to be able to pay old people?

2) I already said all we need to do is take a look what pyramid actually is and compare Onecoin and Onelife system to it. It is here.
PLEASE write in short which part of Onelife shows you that you can only earn money by recruiting people?

EagleOne
Posts: 113
Joined: Tue Jul 04, 2017 11:35 pm

Re: Is OneCoin a ponzi scheme

Post by EagleOne » Mon Jul 10, 2017 3:26 am

Now OneCoin has been officially named a Ponzi. Not only did the Indian Authorities name OneCoin a Ponzi, but they also issued a charge sheet for Ruja Ignatova. You can read all about it here: http://indianexpress.com/article/cities ... e-4743458/

Just the first of many more to come.

CryptoXpose
Posts: 135
Joined: Wed Jun 21, 2017 1:54 pm

Re: Is OneCoin a ponzi scheme

Post by CryptoXpose » Mon Jul 10, 2017 9:07 am

Ruja Ignatova charged with Ponzi fraud by Indian authorities:

http://indianexpress.com/article/cities ... e-4743458/

'But we are not a ponzi. We only sell education, and promise no returns! But if you buy the Power Pack, you will get up to 8 splits, and you get all the splits immediately! Buy now! Onecoin price is 12.45€ and rising! But by buying the €48k Power Pack you will get Onecoins with huge discounts, giving you OneCoins worth of over 10 million euros!! ! (But we don't promise anything, so we are not a ponzi scam!)

Igorkrnic
Site Admin
Posts: 283
Joined: Wed Jun 14, 2017 7:47 pm

Re: Is OneCoin a ponzi scheme

Post by Igorkrnic » Mon Jul 10, 2017 10:20 am

EagleOne wrote:
Mon Jul 10, 2017 3:26 am
Now OneCoin has been officially named a Ponzi. Not only did the Indian Authorities name OneCoin a Ponzi, but they also issued a charge sheet for Ruja Ignatova. You can read all about it here: http://indianexpress.com/article/cities ... e-4743458/

Just the first of many more to come.
CryptoXpose wrote:
Mon Jul 10, 2017 9:07 am
Ruja Ignatova charged with Ponzi fraud by Indian authorities:

http://indianexpress.com/article/cities ... e-4743458/

'But we are not a ponzi. We only sell education, and promise no returns! But if you buy the Power Pack, you will get up to 8 splits, and you get all the splits immediately! Buy now! Onecoin price is 12.45€ and rising! But by buying the €48k Power Pack you will get Onecoins with huge discounts, giving you OneCoins worth of over 10 million euros!! ! (But we don't promise anything, so we are not a ponzi scam!)
Please bitches, I can expect this from Tim but not from you Xpose, you are smarter than this.
First of all, since Indian police first made an arrest and later they ask questions, they need to start some paperwork so this news only shows that CHARGESHEET has been made for people that got arrested for something, not the conviction.
But how the hell can they charge Ruja Ignatova if she was never in India. Did they even contact the company and the Ruja for the official statement? Of course they didn't. It is questionable if she is even on the list cause there is no proof so by mention her there you are making a crime.

Once again you read what you want to read. The author of the article is clearly biased against the Onecoin cause title says:
OneCoin fraud: Chargesheet says accused amassed Rs 75 crore

One might understand like Onecoin is fraud.

But here he writes differently:
The Navi Mumbai Police have filed a chargesheet against the promoters of crypto-currency OneCoin, accusing them of duping thousands of investors to amass Rs 75 crore.
PROMOTERS are arrested for "duping" investors, this can not be linked to the company cause it has clear rules on how to promote business so your buyer can understand the risks. If I go around and sell CocaCola as cure for cancer and some idiots believe me and pay, you can not charge CocaCola for my promoion. But you guys are so blinded in your straw hunt and fail to mention that your author acknowledges Onecoin as cryptocurrency (promoters of crypto-currency OneCoin) and how it was promoted to dupe investors. Well, I heard some people were also using Bitcoin to take money from investors and promise them profit when Bitcoin price goes up. It is totally the same thing as happened here in India with Onecoin but we don't say Bitcoin is a scam.

And this tells all:
The accused had allegedly told the investors they would receive a huge payout in December 2018
So those Onecoin promoters promised people they will receive huge payments in December 2018. Since that was a promise, they will need new money to be able to make those payments right? That indeed is a ponzi, but the problem is that Onecoin DOES NOT promise the sell of coins at any price. It can promise that you will get your coins, and that it will be publicly traded in 2018. What will happen when public trading starts with price and will you be able to sell any coin remains to be seen.

The same can be said with ANY ICO, based on the concept and a plan of newcoin we decide if we will pay money for their coins or not. none of them promise anything but their desire to work out a plan. This has nothing to do with Onecoin company itself. Cause company and Onelife network too do not promise any profit from Onecoin. At the events, of course, people state beliefe it will be traded good and price will go up cause there is visibility but opiniona and beliefe are totaly different than a promise.

Here is what is actually going on since you are too biased to read objectively:
The police, however, have been unable to speak to any of the investors in the course of its probe. “In this sort of scheme, investors become the perpetrators as well as victims. It is clear that this is a Ponzi scheme,” said Tushar Doshi, Deputy Commissioner of Police (Crime).
Ok, so, police COULD not speak with any investors, meaning there were no victims that reported any bad doing. Hmmm, is that ok in your opinion? If there were no victim to report a fraud then how and why did police act here at all? Maybe India Bitcoin community is too strong?

He said: investors become the perpetrators as well as victims. It is clear that this is a Ponzi scheme
Wtf? As retarded as this looks, they get to decide that investors become the perpetrators as well as victims although there no victims to report it but I must say they have solid ground to do like this if investors were promised payments in December 2018 so this case remains isolated to those people who did wrong promotion of Onecoin, need I to remind you that also Bitcoin was promoted in a wrong way in Bolivia and Bolivia banned bitcoin there (as well as others cc) and we don't go clamp this isolated case to Bitcoin itself.

Sorry guys straw this as much as you want, but Onecoin is not a ponzi scheme cause there are no guarantees of what coins might do when publicly traded so Onecoin does not need any new money to be able to pay old people, ponzi scheme can be only made by promoters who promise sell of coins like they seem to do in India. Now you see why Ed Ludbruk quit cause he tried to conquer India but seems like he could not find honest people out there.

You seem to be eager to see any twisted news out there that has the same Onecoin and Ponzi in the same article and you fail to see how desperate that looks, yet I still did not get my answer to one of my questions:

1) I already said all we need to do is take a look what ponzi actually is and compare Onecoin and Onelife system to it. It is here.
PLEASE write in short which part of Onecoin shows you that company needs new money to be able to pay old people?

2) I already said all we need to do is take a look what pyramid actually is and compare Onecoin and Onelife system to it. It is here.
PLEASE write in short which part of Onelife shows you that you can only earn money by recruiting people?

CryptoXpose
Posts: 135
Joined: Wed Jun 21, 2017 1:54 pm

Re: Is OneCoin a ponzi scheme

Post by CryptoXpose » Mon Jul 10, 2017 11:00 am

It is questionable if she is even on the list cause there is no proof so by mention her there you are making a crime.
So are you saying the Indian Express is lying when it writes: "The police has also booked two Bulgarian nationals in its chargesheet, including Rjua Ignatova, the founder of the Ponzi scheme."

It's funny how you are able to "explain" all these news like there's never any problem, at least not in OneCoin. It's always somebody else, but not OneCoin or Ruja.. You should consider a political career.. :lol:

Post Reply

Who is online

Users browsing this forum: EagleOne, slobodanboda and 2 guests