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Friday, 29 July 2016

OneCoin/OneLife - More blatant lies

OneCoin's YouTube channel suspended


As time goes by OneCoin is getting more and more setbacks and blows. Just recently the YouTube channel of OneLife got suspended with the following notification from YouTube: 
"This account has been suspended due to multiple or severe violations of YouTube's policy against spam, gaming, misleading content, or other Terms of Service violations."
https://www.youtube.com/channel/UCHL9x-EinWKNEv1_ONRwW1g

The channel is still suspended. However OneCoin has directed its traffic to another YouTube channel.


The Huffington Post "article"


Yesterday OneCoin/OneLife and its fanatics were spreading a link to the Huffington Post's web site claiming that it had an article vastly praising OneCoin as a cryptocurrency of the future. As OneCoin itself announced on its Facebook page: 
"Onecoin – A new kind of revolutionary digitial asset, attracting investors of all kinds.Read the Full Article on Huffington Post on how quickly Onecoin became the second largest cryptocurrency in the world 



However it was not an article from the paper but a blog post from Huffington Post's Blogs section from blog writer Jose Florez. The Blog section is hosted on the Huffington Post’s Contributor platform. Contributors control their own work and post freely to the site.

As soon as the blog post got attention from OneCoin ponzi antagonists (including me) I bet the Huffington Post received several e-mails about the blog marketing a ponzi scheme. It didn't take long after the blog post was deleted and replaced with the editor's note: "This post has been removed at the request of the blogger." OneCoin was soon to follow by removing the link from its Facebook page to avoid awkward questions about the missing content.



How to steal from muslims



OneCoin adds Shariah-compliant option for Coinsafe

Islamic finance is one of the fastest-growing financial areas, which presents a financial system governed by the principles of Shariah law. In order to improve its services for OneCoin users in muslim countries, which have been increasing exponentially over the past year, the company has implemented changes to the Coinsafe option, which will now allow people from those countries to use it without overstepping the boundaries of the Shariah law.

According to this financial system, money is simply a medium of exchange. Each unit is equal in value to another unit of the same denomination and you are not allowed to make a profit by exchanging cash with another person. This system do not allow benefitting from lending money or receiving money from someone, i.e. receive interest.

To comply with these rules, OneCoin has made changes to its Coinsafe option, which would usually generate interest. Now users can choose to tick a “Shariah-compliant account” box in their Coinsafe account. That way the user will receive gift coins in return for storing their mined OneCoins in Coinsafe, instead of interest.

If you would like to switch to the Shariah-compliant Coinsafe account, log in to your back-end and tick the “Shariah-compliant account” box.
- So let's call it "a gift" instead of interest. - Let's call it "education" instead of ponzi.



Message for the Leadership Summit on Islamic Finance and Cryptocurrency, 25.07.2016



0:20
Bullshitting constantly takes its toll by drying her mouth.

1:15 
"OneCoin targets the usability of cryptocurrency." - Well, no, it does not.

1:23
"OneCoin's strategy always was to create a cryptocurrency for the people. - People like you and me who do not have a lot of IT knowledge. Who do not want to make huge investments in hardware to mine coins."

- So the CryptoQueen, the great mind behind the revolutionary and ground breaking cryptocurrency reveals that she has not much knowledge in IT. I wonder when will she admit that she sucks in economics as well.

She also preaches yet again about banking the unbanked. This conflicts with OneCoin's strict policy to insist all onecoiners to identify themselves with proper documents. In fact Ignatova has already said many times that people unwilling to identify themselves are not welcomed to OneCoin.



Update 30 July

Ed Ludbrook makes a fool out of himself:
http://behindmlm.com/companies/onecoin/onecoin-recruitment-gig-in-australia-disrupted-awkward/

10 comments:

  1. Just reported their "OneLife Webinars" channel.

    ReplyDelete
    Replies
    1. Nice - hopefully YouTube continues banning OneCoin's channels. It's worth noticing though that OneCoin's YouTube videos have a very low count of viewers considering that they claim to have over 2 million members. Anyway that goes along with all the other imaginary figures they have announced to support their ponzi marketing.

      Delete
    2. Imaginary indeed, like the 700,000 Hashocean accounts that supposedly existed, I'd say this is overstated by a factor of at least 10.

      Delete
  2. I hope you noticed that the YouTube channel is back and running with the same video that caused this uproar still.People do not have to be this hateful. Well time will tell. So they wrote a lot of hate and scam write-ups about Bitcoin in it's beginning days but today all those people have shut their mouths. We Will see who will be right on the authenticity of onecoin in the near future.Just stop the hate

    ReplyDelete
    Replies
    1. Well I have never had anything against Bitcoin. Neither have I ever claimed Bitcoin being a scam.

      What comes to OneCoin it's a clear ponzi scheme and it will cause great damage to all the people who spent their savings to this scheme.

      Delete
  3. What make OC a ponzi scheme, exactly?

    ReplyDelete
    Replies
    1. OneCoin is a company who sells memberships to a cult worshipping an imaginary currency and the leader of the company/cult, Ruja Ignatova. In addition to a membership each member receives also an educational package that no member gives a shit about. The majority of them have poor or no language skills to even comprehend the basichs of those packages.

      The imaginary currency is based on a coin that has only artificial value set by Ruja Ignatova's dictatorship.

      OneCoin gains more members by MLM (Multi Level Marketing) based pyramid structure. The company has no other income but the payments from its victims.

      Since it's very hard and tremendously time consuming to sell coins that have no value, the best way for members to obtain financial gain is to lure more victims to their downlines.

      So all in all OneCoin is an obvious ponzi scheme with its fraudulent investment operation. On the other hand OneCoin's success leans heavily on pyramid scam like recruiting business.

      If you are now hesitating whether to call OneCoin a ponzi or a pyramid scam, I'd recommend to use the word scam. It's a simple and safe word to use about the whole scheme.

      Delete
  4. Ari, I just would like to ask you, why do you spend so much energy and time to discriminate OC... Had you invest in OC, or do you have a parent / close friend that did ?
    As per I see they still grow, so no fraud was officially commited, every hatespeech against them is still theoretical

    ReplyDelete
    Replies
    1. Hello there, Unknown! I have never invested in any ponzi/pyramid scam (including OneCoin), neither do I ever have had any friends or relatives involved in scams or even MLM. However I have been following ponzi/pyramid scams for about ten years already so one could say that I have a better than average insight into these schemes.

      Scams usually grow until the very end. You are just leaping to a conclusion without giving any thought to all the evidence supporting the fact that we're dealing with a pure ponzi-pyramid here.

      OneCoin being a ponzi scheme that is allowed to grow without authorities interfering isn't exactly anything new. There are several other international scams going on without anyone stopping them. And how could they - it isn't exactly illegal to send money to foreign scammers. Usually it's only when a pyramid crumbles that criminal reports start launching.

      I do admit that I hate scammers but I wouldn't describe my posts as hate speeches. I try my best to present facts and point out red flags to anyone who might be considering joining this ponzi. So far I haven't seen any comments from onecoiners to prove the facts I've presented to be false.

      Delete
  5. Good Help Brother (y) Thumbs Up for you

    ReplyDelete

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