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Monday, 27 June 2016

OneCoin presents: The Adventures of Super Ted

I was checking out OneCoin's new affiliated sites when I bumped into this hilarious shit that's supposed to be for children - you know, to educate them:
http://www.oneacademy.eu/en/children

One World Foundation and One Academy presents: Yippee, it's The Adventures of Super Ted! This must be great. My inner child is so full of anticipation to get educated by Super Ted.


Wait a minute... what is this shit? You've got to be kiddin' me!



This is the best quality animation they got using their claimed resources of billions of euros? And not only that, this is just a teaser and doesn't even serve as any kind of educational stuff what so ever. The very poorly animated chap let's us know that there's a whole series of these videos to educate children. My inner child is very disappointed and just wants to put that deformity out of its misery.



"Are you ready for this adventure?"


It's a kind of trademark for every ponzi/pyramid/scam there is that every and each one of them have more or less - usually more - features that can be found awkwardly clumsy, poorly executed, against common sense etc. OneCoin is one of those ponzis that has been very generous providing lots of warning signs from the very beginning. Nevertheless it's like Kari Wahlroos educated us, there's that 5 percent minority that is ready to sign up for everything (with a snap of Kari's fingers) no questions asked. 

So now OneCoin has three new web sites to confuse their victims. Onecoin.eu seems to be totally useless now that they are urging people to use onelife.eu. You can't even log in to your account from onecoin.eu anymore. The web pages look alright so I was a bit surprised to find that shitty video. Yet I'm not at all surprised to find where Ruja Ignatova's heart is - yeah, it's in her chest.

Wednesday, 22 June 2016

OneCoin's converting MasterCard was a lie

An Austrian tv program has reported about OneCoin 16th June. The information given is not flattering to OneCoin.
http://tvthek.orf.at/program/heute-konkret/4660549/heute-konkret/12996039/OneCoin/12996042




The reporter also contacted MasterCard to find out whether OneCoin's claims/promises about MasterCards were accurate. The video is in German but I translated the part where a representative from MasterCard was interviewed.

5:20 G. Gruber, MasterCard:
"The program was never authorized by MasterCard. We have initiated steps already in order to prevent giving out the card."
- So there you have it directly from the horse's mouth! There isn't going to be a MasterCard for OneCoin. Ruja and her henchmen have known this for months but didn't inform the members because it would had been very awkward to admit that all the talk about MasterCards has been nonsense.

Actually this is not the first time MasterCard has denounced OneCoin. A Finnish tv broadcast in March 2016 let us know about a similar response from MasterCard which informed that they were not into the program OneCoin was aggressively marketing here in Finland. According to Tommi Vuorinen and other OneCoin's reps the deal was to offer onecoiners a prepaid MasterCard that would magically use onecoins for making purchases. However OneCoin's members have not been able to apply for the prepaid cards nor to load them since March 2016.

This is what OneCoin's customer service has responded to an inquire about the situation of prepaid MasterCards in April 2016:

"Dear Member,


Thank you for contacting our Support Team.

We have postponed the shipment of the OneCards as both the card approval processes of new card requests and the card loading functionality temporary are suspended.

We will inform all Members once the development is completed and will send the cars accordingly.

Please do not hesitate to contact us, if further information is required.

Thank you for choosing The OneCoin Concept.
Best Regards,
The OneCoin Support Team"




Other news from the ponzicoin world:


We have been gathered together to witness and celebrate the union of two ponzi-pyramids, Bonofa and OneCoin. May their mutual life continue till collapse do them part! 

More information here:

As OneCoin ponzi continues to grow they haven't been shy to exploit other pyramids to scam their victims too. We have seen this many times before. If I recall it correctly Conligus was the first outside scam to become part of OneCoin. 

I guess OneCoin receives some easy money out of these deals. Of course many of the victims of those outside scams might already be drained out of cash, but there still are a lot of desperate people ready to spend some more to become millionaires. I assume this is also a relatively cheap way  for OneCoin to attract more victims to join. They might even pay some bloodmoney to an outside cult leader to make him convert his followers under the new religion. Soon that new herd of victims receive an e-mail about this wonderful new opportunity called OneCoin to drag them out of the misery.

PS. I have to thank "anjali" from BehindMLM's comments section for informing about the Austrian video clip.

Saturday, 18 June 2016

Stop the press! OneCoin accepts onecoins for payment!

OneCoin has been mocked since the beginning for not accepting onecoins as a payment even for its own products. Well, it has been discovered that OneCoin actually accepts onecoins as a payment method. If you are willing to buy OneCoin's gift code or OneTablet you are at least offered an option to choose your onecoins in your account to make the payment. Isn't this great! I can't confirm that a purchase with onecoins would go through but it certainly seems possible.

However, it seems that OneCoin does not value the coins much. If you want to buy one piece of that crappy OneTablet you'd have to use 1160 onecoins for it. According to the artificial value set by PonziQueen Ruja that would be over 7000 euros (using the current value in xcoinx.com) for a tablet they otherwise charge 580 euros. Similarly if you want to buy a gift code for a Trader package that costs as much as the tablet (580 euros) you'd have to use 1160 onecoins.

Finally we have some tool to calculate the actual value of onecoin - keeping in mind that so far OneCoin is the only merchant that accepts it as a payment method. So let's calculate:

580 e / 1160 onecoins =
0,5 e / onecoin

This means that the accurate value for onecoin is 0,5 euros. This is exactly how much Ruja Ignatova is willing to pay for 1 onecoin. However I can't emphasize enough that even this is only the value set by the one and only merchant that accepts onecoins - not confirmed yet - in a closed system where all laws of economics and principles of crypto currencies tend to be nonexistent.


Other news from the world of ponzi currency:


OneCoin has yet again frozen some members' accounts. The coins they had in their accounts and the commissions they were to receive are now property of OneCoin. OneCoin simply kicked them out after some other cult members made a complaint about their actions. More information about the case in BehindMLM:
http://behindmlm.com/companies/onecoin/onecoin-seize-ponzi-points-from-investors-again/

Wednesday, 15 June 2016

OneCoin - Kari Wahlroos isn't there to convince people

Today we have a treat! OneCoin's European "Ambassador" Kari Wahlroos is educating us all in this video:
https://www.facebook.com/100003566896970/videos/777052202423669/

After 5:30 someone in the audience asks the following question:
"I want to know how do I sell to my prospects the fact that the blockchain has changed after telling them we can't increase the number of coins in the system?"
This is actually a very good question because there's a major conflict to an essential thing to any cryptocurrency. Once a cryptocurrency has been released it would not be a cryptocurrency if you were able to modify it afterwards by changing the number of coins, "retiring the blockchain" and replacing the old one with a new one.


Just a reminder. This is how OneCoin was marketing itself before London 11th June 2016.


Here's what Kari Wahlroos answers: "You sell it with confidence." Then he just goes on blabbering about doubling your coins and disrespectfully urges the man: "You should attend more trainings". The man replies that he thought this was a training session. Wahlroos admits that this is a training but he can't teach such specifics. - Wow, what a professional he is! Wahlroos hereby let's us know that he doesn't even know basics about the things he should know when claiming to represent a cryptocurrency. 

I have to admit that there wasn't any sensible answer to give - other than admitting that OneCoin is a ponzi scheme and they had to increase the amount of coins to lure more people to the scam as well as acquire more time for milking money out of the victims. So of course Wahlroos has no other option but to avoid the subject.

Well, let's not blame Wahlroos for not being able to give proper answers. To run a believable ponzi Ruja Ignatova should have hired in the first place someone who actually knew something about cryptocurrencies. The future developments that the PonziQueen announced in London have only underlined the fact that she doesn't have a clue about what she's talking about. As a matter fact economy isn't her strength either. There isn't a currency in the world that has value based only on its brand. According to Ignatova her coin value is based on the electricity costs, computer power costs and the brand. While talking about OneCoin's value she does always mention users and usability but OneCoin has neither of those. As a cherry on top Ignatova thinks she can add as many coins to a cryptocurrency without damaging its value.

Oh, back to the video... After the man that dared to make a question Wahlroos goes on pushing people to building the business and to get active. "We are not here to convince people. So if they don't understand... Next!" ( = Move to the next victim!) "There's seven billion people in the world. 5 percent of those will join like this (snaps his fingers) when you just talk to them. So it's the amount of people you talk. So you don't stop to convince anybody!" So he basically instructs those "leaders" in the room to avoid people who ask questions. Maybe because like himself no one in the room could answer any awkward questions that OneCoin arouses.


Kari Wahlroos isn't here to convince people - and boy does he do a great job to prove that.

"We didn't expect us to be such successful. No one knew how big we will be." 
Well I buy that. After BigCoin they probably just tried to launch another BigCoin by the name of OneCoin.

At the end of the video some members start asking about the prepaid MasterCards. "Will it become available?" etc. Wahlroos doesn't want the members to be concerned about the card and urges people to ask transferring money to their bank accounts. Annoyed by the awkward questions he then tries to make a rhetorical question: "Do you need the card to build the business?" - "Yes!", some apparently concerned member replies loudly. Wahlroos: "You really think so?" The man: "Yes." And then they go again. Wahlroos: "You REALLY think so?" The man: "Yes." Too bad the video skips the part where Wahlroos maybe tried to deal with this member's concerns.

Here's the whole video in case it disappears from the link (sorry mobile users, Blogger turns the video in Flash so it does not work with your equipment):



Sunday, 12 June 2016

OneCoin - After the London event, part II, Ruja's presentation

Update 13 June: I forgot to add the video clip from YouTube. Now it's there. :)

Ruja's presentation in London 11th June


As the scheme takes more and more religious like approach they are now calling each other "brother" or "sister". They also presented a new slogan for OneCoin, "Bitcoin killer". This kind of behavior for a company is rather strange. Legitimate and respectful companies don't go bashing others - at least in public. Usually companies market themselves as being better and cheaper than competitors, they don't thread to kill others (though Bitcoin is not a company).

Ruja Ignatova calls again and again OneCoin's members "Onecoin users". This conflicts with the fact that onecoins can not be used anywhere.

Here's Ignatova's part from the event:




"This is just the beginning"


She states that this is just the beginning and OneCoin is only one year old. The audience is allowed to take a glimpse at the future plans: "10 million users and 1 million merchants in two years."

23:20 "People who need to do anonymous payments don't belong to our network." So where did the idea of "banking the unbanked" go? Now she's demanding everyone identifying themselves with proper documents.



As the ponzi has grown she has become more and more arrogant and pompous:
23:40 "And to everybody who tells me that I violate the philosophy of cryptocurrency, guys we are a bigger community, we decide what the philosophy of cryptocurrency is."


The statement above just underlines how delusional she is. OneCoin could not be any further from being a cryptocurrency. The upcoming changes announced in the event just made the ponzi more laughable.


More coins the merrier!


When they started the scheme they underlined that there is going to be 2.1 billion coins - "No more, no less!" Now they just decided to add up the numbers to 120 billion coins!  According to Ignatova the capacity must be increased to satisfy the demands that a global cryptocurrency, its merchants and users must have. To transfer to the new era of 120 billion coins they are going to retire from the current blockchain and start mining in a new blockchain. This is due to happen in the first of October this year.

In the new era the mining speed is magically increased because of a new more powerful blockchain. Also the waiting list for mining the coins is going to be between three days to a week.

By the end of this year they are going to start bringing the coin "slowly" for the public. How this slow publication will be conducted remains unclear.


32:00 "Does that make my coins less valuable?"
Now that there would be a lot of more coins one might think that the value of a coin might be much smaller than today. Not in the OneCoin universe! Ignatova explains that due the increased capacity of coins they can expand their brand much faster and must better. Therefore the brand will strengthen and the value of coins will somehow increase. Nevermind the "usability" part!


As OneCoin is such a generous company Ignatova promises that in 1st October they will double the amount of coins each member has in account or in mining. I don't quite understand why the crowd went cheering so loudly when this was announced. They have still coins that can not be used and this kind of doubling procedure should arouse more questions and not any cheering.

38:00 Sebastian Greenwood continues after Ignatova: "We are the ones who will profit the most! And now we'll double the value! We double the value of our wallets!" - Just like that!



Conclusion


This whole thing is like watching a movie that's so bad it's kind of good in an intriguingly way. 

As they have now stated that there's a totally new blockchain to become, it might be because they try to desperately have some sort of blockchain created to cover the fact that there was no blockchain tied to the onecoins in the beginning - just an excel sheet. However tying a blockchain to a centralized cryptocurrency is a bizarre idea. It's like having one excel document partitioned to 120 billion separate USB sticks for no good reason.

Whatever shitty blockchain they manage to put together it might be valuable in possible trials to come. At least they can then say that there was a blockchain. - They just couldn't help that the coins had no actual value.

OneCoin - After the London event, part I

Well, there's not much to say yet. However, OneCoin makes some major changes and reveals them only to a selected audience in an event? Really? OneCoin was a bad joke from the beginning and as time goes by it isn't getting any better. And what legitimate company organizes an event as poorly as OneCoin?

Anyway, this is what we outsiders know at the time:


OneCoin? - OneLife?


OneCoin renewed its web site... or is it OneLife now? I don't know because I'm just a regular rookie customer who was not participating the event. (To those who didn't already know it: I have a free rookie account in OneCoin to catch all the latest news and so on. Although I don't have a paid membership the user account shows almost everything that a paying customer sees - except the inner market place.)

So now they have two web sites: onecoin.eu and onelife.eu. For some unknown reason login in onecoin.eu jumps you to the OneLife web page. I guess intentionally. I would assume that all the bad press has forced them to finally change the name of the concept. Now that they use "OneLife" it gives a lot less bad search results in Google. Therefore marketing the ponzi is a bit easier for a while. Just don't google "onecoin"!


Lying about the number of attendance



(Update 13 june: Apparently the ticket sales was appalling but as it turned out they still managed to fill most of the empty seats assumingly with members that were handed a free ticket.)


This is what OneCoin tweeted
As I mentioned in the earlier update in my blog, there was maybe 700-800 seats reserved for the event so the ticket sales was really appalling for a venue like the SSE Arena. Nevertheless OneCoin tweeted a blatant lie of more than 3000 people attending the show. According to the ticket sales that AXS's web site was showing before the event that figure is simply impossible.

This picture reveals the biggest pack of the audience.
That's the A section and the first half of the B section. Those sections together hold a bit short of 1400 people. OneCoin sold barely half of those seats according to AXS.

Selling a humongously overpriced tablet called "OneTablet"


They are going to sell a cheap tablet which is humongously overpriced. For 550 euros that they will be charging you'll get much better equipment from... I would say from anywhere else. Of course the tablet they are selling must include something special: Ruja's autograph? Golden covers? I don't know yet. I guess they only told to the paying audience in London.

Well, the OneLife web page reveals us following:
"The OneLife Network’s FIRST physical Premium Line product. This tablet offers everything necessary to enhance your learning, mining and trading experience. Equipped with the latest features, it ensures you will always be one step ahead in your business dealings."
- That's all they say. Then there are the specs of the machine which indicate that it is a low budget tablet probably manufactured in a garage somewhere in China. Why would anyone buy that piece of shit for 550 euros is beyond me.

2 million members!


What a coincidence! Just hours before the event OneCoin gained a massive injection of new members that filled the member ticker to readings above 2 million. I wonder from what other scam they got the new members. They have already added Conligus, Univerteam, OPN and Sitetalk.

Well, what about the merchants? Tell me about the merchants and shops!


This was probably the most anticipated thing the members were anxiously waiting to hear. However, so far I have seen no news about merchants from the London event. Not that I was expecting any.


A video clip from the event


Well, well, well, isn't it Chris Principe from the Financial IT magazine on stage at the CoinRush event. In the video clip he explains that banks are like our enemies and crypto currency is the way to go. I just don't get it how come a ponzi scheme like OneCoin is better option than a bank? At the end of the video he makes it painfully clear that who is his master.



I watched couple more videos from the event but there was nothing much to say about them. There was Sebastian Greenwood and Kari Wahlroos encouraging people to scam more to join the ponzi. A slide showing a plan that in two years there is going to be 10 million members and 1 million merchants.

Sebastian Greenwood and Kari Wahlroos blabbering for half an hour.


YouTube had also some videos from a "Diamond Gala" which happened presumably yesterday. There an auction was kept to raise money for the One World Foundation that's supposed to help children in need as well as give prizes in violin contests.

Diamond Gala and the charity auction.

Wednesday, 8 June 2016

(Updated 12th June) OneCoin desperately trying to have tickets sold to the London event

As the CoinRush event in London is just behind the corner OneCoin is apparently desperate to have tickets sold. At the last minute effort they finally gave in to have AXS Ticketing System to handle the ticket sales. SSE Arena seems to use mainly AXS for selling tickets to events happening in the venue - so why it was not used by OneCoin in the first place?

I tried to book the maximum amount of tickets (6 pcs) in front of the stage and had no problems proceeding to the ordering phase - and I didn't even allow split seats. I then repeated the action a couple of times and tried all the three sections in front of the stage. There was always free seats available for my "group of six". 2 million members and so many seats left? And OneCoin has been rushing people to order tickets as soon as possible while they still last. Probably there isn't going to be such a "coinrush" they were expecting?

Here's the link for ordering tickets:
https://tickets.axs.com/eventShopperV3UK.html?wr=GEN-1c2d-4b58-af3e-a40e26477a36

---------------------------------------------------------------------------------------------------

Update 10th June:


Based on the SSE Arena's seating chart below and AXS's ticket service OneCoin has failed badly with selling tickets to tomorrow's event. 

According to the AXS's ticket service the seats for silver level tickets are almost entirely available. That's around 1300 useless seats! However they have managed to sell some of the bronze level tickets. The first available seats for bronze level can be found on rows 2-3, so there's approximately 600 seats left and maybe about 100 tickets sold. What comes to the gold level tickets there are maybe 700-800 seats reserved out of which OneCoin has given free tickets to the members of certain level(s). That been said there must be above 900 gold level seats left.


The seating chart of SSE Arena.
It seems that the SSE Arena will look quite empty tomorrow.


Update... again:


After couple of hours since my last update there has been some strange modifications to the seating arrangement. It looks like they have moved all the customer that have bought bronze level tickets to the silver level area. This of course makes sense because it seemed that nobody had cared to buy those silver level tickets. However it still is laughable how badly they have arranged this whole event.

It looks like there's still some modifications going on because the seat map has been changing a couple of times during this latest update.

-----------------------------------------------------------------------------------------------------

Update 12th June:


Surprisingly they seem to have been able to fill up the A and B sections quite well as you can see in the video below. Although it's hard to see possible empty seats because people are standing up.



I suppose they gave a lot of free tickets to fill up the empty seats which were there until the very last moment before closing the ticket sales. Adding up the people that were not seen in the AXS's ticket sales but visible in the video, there could have been that 3000 people that OneCoin had announced. However, there clearly was a lot of seats unsold so it was not by all means a full house.

Tuesday, 7 June 2016

OneCoin under investigation in Germany. OneCoin changes bank account yet again.

BaFin, the Financial Supervisory Authority in Germany has started investigating OneCoin. There isn't much to tell about the investigation because the authorities are not giving comments about it. http://www.spiegel.de/spiegel/vorab/bafin-prueft-internetwaehrung-onecoin-a-1095657.html

However it seems that the investigation has lead once again OneCoin having a bank account frozen. It was soon after the news about BaFin's interest on OneCoin were released that OneCoin announced new bank details to use immediately instead of the old account in Germany. The new account is also in Germany which is interesting considering the ongoing investigation.

I wonder how long that account is going to last. For those who have just started to learn about the true nature of OneCoin, the ponzi has been struggling with frozen bank accounts and this is not the first time they have informed about sudden changes in bank accounts. I can't even remember how many times it has been already.

By the way the bank account belongs to IMS International Marketing Services GmbH. This was the company behind OPN-Sitetalk which joined OneCoin in the beginning of 2016:
"As announced during our event in Budapest on January 16th, 2016, OneCoin united with the highly respected Opportunity Network (OPN) Network Marketing business. By joining forces with OneCoin, the OPN global teams and clients will benefit from the unique opportunities offered by OneCoin. OPN brings in its pioneer of social networking together with a unique digital marketing platform SiteTalk.com under the leadership of industry legends Frank Ricketts and Kenny Nordlund."



The London event confirmed


Yes, it was finally confirmed today after several people had inquired about the upcoming event from the SSE Arena. The London event is really going to happen in the SSE Arena London next Saturday. As the event is private the SSE Arena was not keen to spread information about it. That's why it wasn't marked on the event calendar. Well, I hope we get to know soon what bullshit was fed to the fanatic onecoiners who are expecting a lot to happen and eagerly waiting for the opportunity to spend their worthless onecoins.

The performers of the event are yet to be announced. Maybe they are kept as a secret so that no one could tip them of about OneCoin being a ponzi scam.

Thursday, 2 June 2016

Rotten Financial IT continues promoting OneCoin


Chris Principe and Financial IT continue their journey through the sewer system of immorality and corruption. I don't mind the existence of magazines selling editorial coverage in addition to ad space. However when a magazine chooses to accept money from a ponzi scam and openly support the scheme it really pisses me off. There are a lot of people all over the world suffering heavy losses because of this ponzi scheme, and Financial IT is involved in it.

The latest May issue of Financial IT has a "Publisher's letter" by Chris Principe. As an errand boy to Ruja Ignatova he takes care of mentioning OneCoin in the article:
"Whether it is the mobile payment revolutions in Africa brought on by M-Pesa, the cryptocurrencies potential as a global trade currency through Mastercoin, OneCoin, Primecoin, etc. or the rush by banks to the Blockchain technology in search of potential useful applications."
In the previous March issue he points out:
"Bitcoin is the best known. However, others such as OneCoin, Peercoin and Litecoin are attracting interest."

It's quite funny that Chris Principe mentions "Mastercoin" in the May issue. As a magazine covering "innovations in technology" - like their slogan says - shouldn't Chris Principe be aware that Mastercoin was rebranded as Omni over a year ago? Furthermore, anyone having even a basic knowledge about how cryptocurrencies work should of course detect OneCoin as a ponzi scheme. 

However anyone accepting money from a ponzi scam should be nothing more than expected to willingly make a complete fool out of himself and overlook all the facts visible. That's where Financial IT and Chris Principe have succeeded astonishingly well.

As the deal with OneCoin apparently continues Financial IT sticks to advertise the OneCoin issue on its homepage skipping the cover of the March issue that should have been there now instead of Ruja's face:



To underline that there is an ongoing deal with Chris Principe and Ruja Ignatova the OneCoin issue is the only one that is not downloadable free of charge from their archive.
Here's also a video clip with Chris Principe boosting ponzi scheme's marketing 
(Update 24 July 2017: the video has been removed):


I wonder what Chris Principe would say about BigCoin. It was the first attempt to create a centralized crypto currency, "the future of money", with Ruja Ignatova and Sebastian Greenwood involved.

By the way, I have signed up twice already to receive Financial IT's "free daily" newsletter. It has been months and I have not received a single newsletter. Financial IT also has quite sloppy made web pages for a technology oriented magazine. Well, at least they got rid of the place holder text which they had in a tab of the previous version of the web pages before updating it from shitty to sloppy.