OneCoin: It is a Ponzi Scheme (2024)
The OneCoin Ponzi extravaganza pulled into London on June 11, 2016. There were pyrotechnics, dancing, and countless claims were made. The big money makers were in full display.
5,000 distributors and guests attended the OneCoin convention in Wembley Stadium, London, UK. Europe is taking off with large presentations (1,000+ attendees) in the major cities, of London, Paris, Amsterdam, Munich, Oslo, and Rome. – Source Businessforhome.org
Here are some of the many claims that were made at the London event:
OneCoin is the Bitcoin killer.
OneCoin is easy to use and it is for everyone.
How exactly does a Ponzi scheme operate?
An investment fraud known as a Ponzi scheme draws investors with claims of great returns and no risk but fails to invest the money as stated. Instead, it pays off earlier investors with money from future investors while maybe keeping a portion of the profits. These schemes typically fail when recruiting investors becomes challenging or when multiple investors attempt to cash out. They depend on a steady flow of new buyers to operate. They are called after Charles Ponzi, who ran a similar scam using postal stamps in the 1920s.
No other cryptocurrency has as many uses as OneCoin.
New joiners are waiting 3-6 months before they mine coins.
What is their vision?
They will bring cryptocurrency to everyone.
The One Coin exchange will have the highest amount of transactions globally in two years and One Coin will be number one worldwide.
Global cryptocurrency has a huge future ahead.
OneCoin should have 10 million users and 1 million merchants in 2 years.
The sky is really the limit for One Coin.
They are in 195 countries.
They have a big community and will decide the philosophy of cryptocurrency.
OneCoin is much easier to use than Bitcoin. One Coin is easy, and safe, push a button, get the application, and start.
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Their blockchain can do more transactions than Visa and Mastercard combined.
They have no coins for merchants and Latin America right now. The solution is to increase the number of One Coin to 120 billion. To make this happen they will launch a new blockchain on October 1, 2016.
The waitlist to mine new coins will become 3 days to one week only.
They plan to go completely public in two years.
At the end of the year, they will start bringing OneCoin to the public.
Existing members will double their One Coins with the new blockchain. This will happen once and it will never happen again. This is the most exciting news ever!
They will encrypt the KYC information of their users and store it in their blockchain.
They will say to regulators that they are the most transparent, most powerful, and most legal cryptocurrency out there.
The USA is not open, according to Ruja: “As the USA has no clear rules”.
In my opinion, One Coin would be shut down quickly if they tried to run this Ponzi scheme here in the USA.
OneCoin is nothing new. It is a reboot of a previous scam called BigCoin. Ruja was involved in that too and she had plenty of claims to make about it as well.
OneCoin London Review Conclusion
One Coin you can polish the look of your logo and website all you want, but it still does not change the nature of the scam you are running.
In my opinion, OneCoin is a Ponzi scheme that is linked with a pyramid recruiting scheme disguised as a new digital currency. Any money you spend will not be refunded once you log in to your OneCoin account. They use the history of the increasing value of bitcoins to sucker you into their scam. Each individual who profits does so primarily from the payments of others who are themselves making payments in order to obtain their own profit. Avoid the OneCoin scam.
