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
CryptoXpose
Posts: 122
Joined: Wed Jun 21, 2017 1:54 pm

Re: Is OneCoin a ponzi scheme

Post by CryptoXpose » Wed Jun 28, 2017 10:18 am

Cryptomarket and coinmarketcap is full of scam/shitcoins. There's absolutely no disagreements there.

By the way, WhatsApp Groups can't have 400 members. The max limit is 256 people, which is WhatsApp max limit for group chat. So Jen couldn't have WhatsApp Group of 400 members like you claim. To my understanding Jen created a totally new group which has people all over the world. Of course many are afraid, because they don't want to lose their account, and in WhatsApp their phone number is visible. So it is very easy for the company to pick phone numbers and compare to their account database.

It's absolutely ridiculous that people can lose their accounts if they critisize the company. Who does that? A legit company??
I would never trust a company which freezes accounts when facing critique. Absolutely ridiculous. I would never trust and give total control of any kind of assets for this kind of company which does that. Even less I'd trust a company with extremely bad reputation and full of bad reputation people.

I mean, OneLife Network Ltd is now totally forbidden to do any kind of trading even in tax heaven Belize. What kind of company achieves something like that?? Forbidden in tax heaven.. :lol:
http://www.ifsc.gov.bz/one-life-network-limited/

Igorkrnic
Site Admin
Posts: 271
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Re: Is OneCoin a ponzi scheme

Post by Igorkrnic » Wed Jun 28, 2017 11:10 am

CryptoXpose wrote:
Wed Jun 28, 2017 10:18 am
Cryptomarket and coinmarketcap is full of scam/shitcoins. There's absolutely no disagreements there.
It is not point if we agree or disagree, at least that's a fact. Bitcoin and Etherium became crap too unfortunately. You saw it yesterday (June 27) $25 billion lost. It is ok, people did not lose $25 billion cause that market cap is fake anyway.
CryptoXpose wrote:
Wed Jun 28, 2017 10:18 am
By the way, WhatsApp Groups can't have 400 members. The max limit is 256 people, which is WhatsApp max limit for group chat. So Jen couldn't have WhatsApp Group of 400 members like you claim. To my understanding Jen created a totally new group which has people all over the world. Of course many are afraid, because they don't want to lose their account, and in WhatsApp their phone number is visible. So it is very easy for the company to pick phone numbers and compare to their account database.
Maybe, I did mention that I read that info, someone of "haters" (note that I call people who bash onecoin haters, maybe you dont think so but I decided to call all you guys haters, it is easier, don't get offended) wrote that about group so I relayed that. If it is a mistake then I will no longer mention it.
The fact is, you are trying to "help victims" exactly how? By poisoning them with your opinions so they go and risk account to be frozen? Why not leave them alone and live to see what happens to Onecoin in 2018.
Also, there is inconsistency in your story about those victims. If they "know" they are scamed, if they "know" company is scam and system is bogus, why are they affraid to lose their accounts? I think they are mostly small minded people who was probably lied to that they can pull out fast money, when they realized they can't do it and now they need some place to express their anger. But they still do want to keep their accounts and Onecoins cause there is hope they will be able use them or at least exchange them to OFC and sell stocks later. If they felt like real victims they wouldn't care about accounts. Of course there are those who don't believe in OC any more and don't care but those are mostly the ones who were in just for fast profit. Onecoin is not fast get rich scheme. Onelife might be if you can make thousands of downline. Onecoin is for future.
CryptoXpose wrote:
Wed Jun 28, 2017 10:18 am
It's absolutely ridiculous that people can lose their accounts if they critisize the company. Who does that? A legit company??
I would never trust a company which freezes accounts when facing critique. Absolutely ridiculous. I would never trust and give total control of any kind of assets for this kind of company which does that. Even less I'd trust a company with extremely bad reputation and full of bad reputation people.
This is controversial topic. You need to understand that the company is in its infant phase. It is very vulnerable to bad propaganda and lies because right now it LARGELY relies on people's trust. The company must not allow members to spread misinformation and lies. Frozen accounts are mostly for people who promote Onelife and Onecoin in a bad manner, by lying all the way. You might refer that some leaders made mistakes and said unintentional lies. The company will not freeze your account just like that. I critique them every week on support tickets and I am not too nice sometimes. I did not get my account frozen. But if I start spreading my "opinions" how the company has no blockchain or something like that and promoting liers on my zoom, I might get frozen. I should actually. Imagine what would you do if you were private company, you know what you have and some of your employees would lie about that. Would you kick him out? It is normal. Since Onecoin is still private, you can not compare it with bitcoin in term of "losing" coins. Ruja already said, once Onecoin is public, your coins will not be owned by company any more, but by you.
Who knows we might be able to download them on PC.
CryptoXpose wrote:
Wed Jun 28, 2017 10:18 am
I mean, OneLife Network Ltd is now totally forbidden to do any kind of trading even in tax heaven Belize. What kind of company achieves something like that?? Forbidden in tax heaven.. :lol:
http://www.ifsc.gov.bz/one-life-network-limited/
Do you really still believe in this crap? Belize publishes this and behindmlm or whoever posted it first relays it the very same day?
Dude this is fabricated by someone falsely accusing Onelife of trading. Onelife does not conduct trading whatsoever. It is only doing promotional direct sales of its own products. If they mistaken dealshaker as trading, it is not. It is only an advertising platform to link buyer and seller. That document has nothing to do with Onelifes activities, they are forbidden to conduct trading which they don't do anyway.

CryptoXpose
Posts: 122
Joined: Wed Jun 21, 2017 1:54 pm

Re: Is OneCoin a ponzi scheme

Post by CryptoXpose » Wed Jun 28, 2017 12:44 pm

Igorkrnic wrote:
Wed Jun 28, 2017 11:10 am
It is not point if we agree or disagree, at least that's a fact. Bitcoin and Etherium became crap too unfortunately. You saw it yesterday (June 27) $25 billion lost. It is ok, people did not lose $25 billion cause that market cap is fake anyway.
That is what happens in open crypto markets. You get the price what the market decides. On the otherhand, OneCoin can't be sold or exchanged AT ALL. So any kind of price of OneCoin is totally fictional. Sure, you may get some single items on DealShaker with close to Ruja's value. But what does the seller get? Coins that can't be used pay salaries, can't pay taxes, can't fill the inventory. The dealer gets some coins which can be used to buy mostly chinese crap and he/she can only wish that coins will have some real value after a year or so.

By the way, if you call some open market crypto market-cap fake, wtf then is the current OneCoin's "market-cap" of 258 BILLION euros, OneCoin being a digital coin which has no observable crypto properties for users, can't be sold, can't be exchanged to other currencies, can't be transferred freely between users etc etc. Sure, the current 258 Billion euro market-cap seems very legit considering this...hello.. Hell, the company even refuses to tell its members publicly how many coins it has put in circulation. Very transparent indeed.
Do you really still believe in this crap?
It's from official Belize government site, so yeah, it's a legit announcement. Unless you are working in the company, I don't think you are in the position to say what these different OneCoin/OneLife companies really do behind the scenes, because they are PRIVATE.

Igorkrnic
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Posts: 271
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Re: Is OneCoin a ponzi scheme

Post by Igorkrnic » Wed Jun 28, 2017 3:34 pm

CryptoXpose wrote:
Wed Jun 28, 2017 12:44 pm
That is what happens in open crypto markets. You get the price what the market decides.
I need to disagree here. We can clearly see that speculators decide the most. That is why I want Onecoin to succeed. They want to be the ones to control stable value as much as possible later on public trading. Trust is needed here so many people will hate it.
CryptoXpose wrote:
Wed Jun 28, 2017 12:44 pm
On the otherhand, OneCoin can't be sold or exchanged AT ALL. So any kind of price of OneCoin is totally fictional.
This is starting to be a cliche. When will you stop comparing publicly traded cryptocurrencies with private and still closed Onecoin.
Ripple is centralized and released only 44% of tokens to public. They also get buzz for not having a credible market cap. Damn "experts"...
What I see is that ripple value fluctuation per one XRP is very minimal. That's because the company is able to control it cause they own the most of XRP. The same will Onecoin gonna do. My opinion. For now, you can laugh it.
CryptoXpose wrote:
Wed Jun 28, 2017 12:44 pm
Sure, you may get some single items on DealShaker with close to Ruja's value. But what does the seller get? Coins that can't be used pay salaries, can't pay taxes, can't fill the inventory. The dealer gets some coins which can be used to buy mostly chinese crap and he/she can only wish that coins will have some real value after a year or so.
I think those merchants know better what they will get. Some advertisement for a start. But you admit there is usability. You guys, especially Tim strongly stated Onecoin will never have usability. Now he turned tune to discrediting the very same usability by invalid arguments and again, his opinions. And you seem to follow him. Haters will see you walk on water and say it's because you can's swim. If you understand.
CryptoXpose wrote:
Wed Jun 28, 2017 12:44 pm
By the way, if you call some open market crypto market-cap fake, wtf then is the current OneCoin's "market-cap" of 258 BILLION euros, OneCoin being a digital coin which has no observable crypto properties for users, can't be sold, can't be exchanged to other currencies, can't be transferred freely between users etc etc. Sure, the current 258 Billion euro market-cap seems very legit considering this...hello..
The open market is fake because 10-30% is cash, the rest is just trading worthless altcoins to BTC and ETH. At least Onecoin mining demand is executed with 100% cash. But I will not debate current internal value. It will need to defend itself on public trading.

But actually, if you noticed when xcoinx was testing, there were fluctuations of value, in small amounts, like 0.2-0.5. That was due to trading and limits imposed. Value stayed stable at whole number point. And that happened when few million members tried to sell to few tens of thousands of networkers considering how many of them actually logged in to buy coins, cause most of them just let trading account autobuy tokens. And what will happen when few million start sale to the whole world? Sure sale was slow, I managed to sell one, maybe two transactions per month. But this is why Ruja tells people who just want to sell coins, not to use them, to exchange them to OFCs and then sell stocks without limits. that way comany will own even more coins to rule the market value.
All of this is my opinion. I can't say how it will be on public. Just like your opinion is it will fail. It might.
CryptoXpose wrote:
Wed Jun 28, 2017 12:44 pm
Hell, the company even refuses to tell its members publicly how many coins it has put in circulation. Very transparent indeed.
I totally agree with some technical secrets. I hope they know the reasons for that. Why the hell is so hard to make fully working blockchain explorer. For instance. For now it is easy to calculate coins, latest block height times 50.000 OC plus 1.9 billion from the genesis block. It is unknown how many of those coins belong to the company (OFC and if more coins is mined than tokens were submitted) and how many to users. Maybe that is why they will announce that info on xcoinx when time comes.
CryptoXpose wrote:
Wed Jun 28, 2017 12:44 pm
Do you really still believe in this crap?
It's from official Belize government site, so yeah, it's a legit announcement. Unless you are working in the company, I don't think you are in the position to say what these different OneCoin/OneLife companies really do behind the scenes, because they are PRIVATE.
In "do you stil believe this crap" I didn't mean to disredit the document. I meant, ban for trading is irrelevant cause the company does not do trading.

Ökonom
Posts: 2
Joined: Wed Jun 28, 2017 9:52 pm

Re: Is OneCoin a ponzi scheme

Post by Ökonom » Thu Jun 29, 2017 4:21 pm

You're doing a great job, Igor. What surprises me is that the BitCoin friends do not realize that they wanna hurt on the long run BitCoin itself and themselves with their OneCoin bashing

EagleOne
Posts: 107
Joined: Tue Jul 04, 2017 11:35 pm

Re: Is OneCoin a ponzi scheme

Post by EagleOne » Wed Jul 05, 2017 10:21 am

I have been reading this thread and have found that no-one has been posting the facts about OneCoin/OneLife. Rather odd since the facts clearly determine if OneCoin/OneLife is a Ponzi or not.

So let's start with the "Training information packages" that OneCoin says you are buying. The claim is that this training information packages are proprietary to OneCoin/OneLife: NOT TRUE. ALL the training information has been plagiarized by Dr. Ruja. All this information is free on the Internet if you want to take the time to find it. Dr. Ruja lied on her CV. She claimed she was a junior associate with the McKinsey law firm, but she was only a consultant, as verified by the law firm and their own website. She lied about Forbes putting her on the cover of their International Magazine and she had done an interview with a reporter from the magazine, and the interview was published in the International Magazine. A total lie. It was a paid marketing piece anyone can buy, and she wrote the article. She was not on the over of their International magazine and was not interviewed by a reporter for the magazine.

FACT: Dr. Ruja and her father are convicted felons. Seems she and her father stole over $1 Million Dollars from the company they bought and were both found guilty.

FACT: Since its inception, OneCoin/OneLife has had 22 banks close their bank accounts with them.

FACT: OneCoin/OneLife has been banned in Italy, Germany, China, Bangladesh, Belize, Colombia, and India.

FACT: OneCoin is under criminal investigation or has had their central banks issue warnings to their citizens: Austria, Belgium, Croatia, Dubai, Latvia, Luxembourg, Bulgaria, Malta, Macedonia, Mauritius, Netherlands, Norway, Poland, Thailand, Sweden, Slovenia, Switzerland, the UK, the USA, Vietnam, Finland,Hungary, India, Kazakhstan, Nigeria, Pakistan, Russia, Tanzania, Curaçao and Sint Maarten, and Uganda. OneCoin/OneLife representatives have been arrested in China, India, Bangladesh, and Kazakhstan (House arrest).

There is no OneCoin. All you have are OneTokens, which have zero value. There is no blockchain, and that's why there are no OneCoins. OneCoin/OneLife is using a SQL server, and this platform does not allow for any mining to be done.

FACT: According to Dr. Ruja, OneCoin's Market Capitalization is more than the top 100 crypto-currencies COMBINED Market Capitalization. All without any public trading, and only Dr. Ruja setting the value of a non-existent coin.

FACT; Here is a partial list of all the major promoters of OneCoin/OneLife that have stopped promoting it and are erasing their FB and YouTube accounts of their involvement in OneCoin/OneLife: Navid Tavakoli, Max Nilsénius, Steinkeller Brothers, John Reilly, Tom McMurrain (now doing his own crypto-currency Ponzi),Anton Federspiel and Hansjörg Oberrauch. There are more, but need to confirm they really have left OneCoin first.



FACT: The so-called video in the back office showing the mining taking place is fake. You can't mine something that doesn't exist. It was proven to be nothing more than a video loop from Shutterstock.

And just think, I have only scratched the surface of all the FACTS that OneCoin/OneLife is a Ponzi. Remember, Bernie Madoff's Ponzi ran for over 20 years before it collapsed.

EagleOne
Posts: 107
Joined: Tue Jul 04, 2017 11:35 pm

Re: Is OneCoin a ponzi scheme

Post by EagleOne » Thu Jul 06, 2017 2:56 am

Here are the additional major promoters who have left OneCoin/OneLife: Daniel Grenon, Moyn and Monir Islam, David Imonitie, Ed Hartley, Touhid Rahman, and Marvin Sambo.

This raises the question since all of them were major promoters with huge downlines, why would they abandon OneCoin/OneLife before the public offering in 2018? They would be giving up millions of dollars. Makes one wonder what they know that you don't doesn't it.

Igorkrnic
Site Admin
Posts: 271
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Re: Is OneCoin a ponzi scheme

Post by Igorkrnic » Thu Jul 06, 2017 3:18 am

You missed a topic, I opened a new topic with your "facts" and also I gave you my answer there.
You may continue there please

Go here

EagleOne
Posts: 107
Joined: Tue Jul 04, 2017 11:35 pm

Re: Is OneCoin a ponzi scheme

Post by EagleOne » Thu Jul 06, 2017 11:53 pm

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?

Igorkrnic
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Re: Is OneCoin a ponzi scheme

Post by Igorkrnic » Fri Jul 07, 2017 10:15 am

EagleOne wrote:
Thu Jul 06, 2017 11:53 pm
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

Is anyone makes accusations, and the government starts believing it so they start an investigation, the Company needs to be questioned too before making a verdict.

If you had some official document from any country saying Onecoin is ponzi you would have already posted it and we would be seeing it all over the internet.

But since you ask that question, I suspect your crystal ball it telling you that your bosses are in progress of making one country issue such statement :)

Edit: I have heard that Tim Tayshun brags how tomorrow news will publish Netherland "verdict" on Onecoin. My questions:
1) How they know any info about any investigations when serious investigations are supposed to be undercover
2) If any investigation was going on about Onecoin Company, did anyone question source from the company itself or only Bitcoiners were those providing info?

But when we see the source of this info we can realize that is the same info that posted how Onelife Macau May 2017 event was banned.

The fact is that this is Dutch answer for Onecoin source link. The document is dated July 5th 2017. I am writing this 2 days after that.

Let's quote and translate it:
Date 5 July 2017
Responses to Room Questions Member Nijboer (PvdA) about OneCoin and OneLife
Financial Markets Management
Short Voorhout 7
2511 CW The Hague
PO Box 20201
2500 EE The Hague
Www.rijksoverheid.nl
So this response is written 2 days ago and they say there is a verdict? Good old Gerlacht report. Wanting to believe them shows how desperate you guys are about Onecoin.
Question 1
Are you familiar with OneLife? 1

Answer to question 1
I have taken note of the content of the OneLife website.

Question 2
What is OneLife and how does it work?

Question 3
In what way are OneLife and OneCoin linked?

Answer to questions 2 and 3
According to OneLife and OneCoin2 websites
OneLife is a network organization
Behind OneCoin. OneLife must be joined and so-called
Buy training packages before oneCoin gets the opportunity
to come. When buying a training package, you will find the website
So-called tokens, which can then be used to use OneCoin
Generate (also called mines). The purchase prices of the
Training packages offered by OneLife according to the
Website between € 110 and € 27,500, -.
OneLife says to be a multi-level marketing system, with the goal of a network
To create within which OneCoin can be traded. OneLife handles to
Own say a bonus system in case a participant recruits a new member,
Or when a participant sells a training package. Those who have
New member recruiting would receive a percentage of the new member's entry.
At this time it is not possible to purchase OneCoin directly or to purchase the
Value in euros. In this case, OneCoin differs from Bitcoin, for example,
Ethereum and Litecoin. OneCoin is currently only negotiable between
Members of OneLife, according to OneLife and OneCoin's websites, and the platform
Seems like they start investigating from the website info available by the company, that should be done like that. Bitcoiners can not provide their info on other company.
At this time it is not possible to purchase OneCoin directly or to purchase the
Value in euros. In this case, OneCoin differs from Bitcoin, for example,
Ethereum and Litecoin. OneCoin is currently only negotiable between
Members of OneLife, according to OneLife and OneCoin's websites, and the platform
On which OneCoin can be exchanged in regular currency (as euros) is on it
Moment of this writing is not available.3 Also it is not clear whether the
Blockchain behind OneCoin actually exists, as the source file of
The blockchain behind OneCoin is not public, as is the case with Bitcoin4,
Ethereum5 and Litecoin.6 The members of OneLife have according to the website of
OneLife also does not have access to the source files of the underlying
Totally true, onecoin is not yet externally tradable, it is not clear whether blockchain exists because users do not have access to source files.
So, someone believes in it, someone does not. Governments can easily check this by demanding to see it.
Question 4
Is OneCoin a cryptocurrency? What rules apply to artificial currency? Is there
A pyramid game?

Answer to question 4
Based on the available information about OneCoin, it is not possible to determine whether
There is a virtual currency. Virtual currency does not fall within the scope
Of financial supervision legislation.8 The purchase of virtual currency is one
Investment that involves risks. I would like to point out to the general
Warnings issued by the Dutch Financial Markets Authority (AFM) and the Dutch
Bank (DNB) have given up on the risks of investing in virtual
Currency.9 10
In the future, virtual exchange and virtual exchange platforms
So-called 'custodian wallet providers' possible within the scope of the
Fourth anti-money laundering directive11. The European Commission has in July 2016
Presented a proposal to amend the fourth anti-money laundering directive
And of which this proposal forms part.12 This would lead to
That said parties will be obliged to conduct research on their
Clients and they should report unusual transactions to the Financial
Information unit (FIU). The negotiations on this proposal for a directive are still in place
going on.
The assessment of oneLife and OneCoin's behavior and earnings model
Is to the relevant supervisors, the Dutch Chancellor Authority and the
Consumer and Market Authority (ACM), and to the Public Prosecutor and
Finally to the court. It is up to them to determine if there is reason
To investigate if there is a pyramid game like
Referred to in the Gambling Act, or other facts that do not conform
Are with Dutch law and regulations.
They clearly say that virtual currencies involve risks and there are bodies in NL that can investigate payment models to see if there is pyramid scheme going on. Where did I hear this before?
Question 5
How many participants do OneLife have in the Netherlands? How many users of OneCoin
Are there in the Netherlands?

Answer to question 5
I do not have this information.
So if they don't know about Onelife participants in NL, how do you expect any healthy verdict :)
Question 6
Are you familiar with the many criminal investigations against OneCoin, below
Others in Germany, Italy and India? Is there also research in the Netherlands
To OneCoin?

Answer to question 6
I have taken note of the warnings of British and Belgian
Supervisors who have published the AFM on its own website.13 About
Any ongoing studies in the Netherlands are not communicated.
Here we see that questions are being asked by someone that really follows all onecoin anti-propaganda. But to minister, other country investigations are irrelevant and there are no investigations in NL. So, again, how the hell do you expect any healthy verdict?
Question 7
What do you do to prevent pyramid games in the Netherlands? How to Avoid
That some become smelly rich over the backs of naive victims?

Answer to question 7
Although the Law on the Games prohibits unconditional opportunity
Participation in pyramid games can not be completely avoided
Pyramid Games are offered. That's why it's important to consumers
Resilient to pyramid games and other misleading
Commercial practices. Information and knowledge are important instruments. The
ACM informs consumers via the ConsuWijzer information box about their
rights and obligations. It is also important that pyramid games and similar
Misleading commercial practices are being addressed. Possibilities for this are
Included in Article 1a of the Gambling and Law Act, respectively
3a of Title 3 of Book 6 of the Civil Code (concerning unfair commercial practices).
Seems like this queston does not relate to Onecoin. Or it does to the author who gave himself permission to rule if Onecoin is pyramid :)

So my question again is how the hell do you believe in Gerlachreports one more time and make a fool aout of your self...

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