The cryptocurrency with the most fame (and the largest market cap if you multiply existing coins by the price per coin) is, of course, Bitcoin. But the second runner up and rapidly advancing cryptocurrency is called OneCoin.
A cryptocurrency by the name of OneCoin was launched in 2013, and it ran for about a year before it died out. We are not here talking about that OneCoin. In the fall of 2014 a completely separate cryptocurrency with the same name was begun. (You can see this on pg 27 of a forum called BitcoinTalk) The second OneCoin is the one that is now active; and the two are not related.
The new OneCoin is unique in that it is managed by a company that offers education about cryptocurrency at the same time that it provides the servers to mine it, provides an exchange for it, and will in 2016 launch an eCommerce platform for its use for purchase of real stuff. It is also unique in that these (and other) services are provided to a membership, which is expanded through network marketing. Through all of these means, OneCoin is intended to be made accessible to the masses; unlike Bitcoin and other cryptocurrencies which remain very much a specialty niche for technophiles (computer nerds).
OneCoin will eventually be made available to the general public, but it is not traded yet outside of its own membership (1,750,000 members as of 3/23/16). You can check out its price and market cap on XcoinX, as in #2 after BitCoin (and gaining fast). The OneCoin network is bringing in between 4,000 and 5,000 new miners, daily.
The founder speaks, Feb 6, 2016:
Is OneCoin a scam? What, you didn’t watch the video above? I don’t know how you can watch that (other than the uber-hyped promo during the first seconds) and go away thinking, oh this must be a scam! And this was my original opinion. Now I’m not so sure.
I wan’t going to waste a lot of page space on this answer, since I thought it was wrong, but here are samples of the “Yes” claim:
OneCoin is BigCoin re-Launched Not only does it look like OneCoin is a re-launch of BigCoin, and Loopium before it, but the principles Sebastian Greenwood and Ruja Ignatova are the same.
According to BigCoin & BNA: The original OneCoin Ponzi points, BigCoin was launched in 2013 as a cryptocurrency MLM promotion by John Ng out of Hong Kong. Soon Sebastian Greenwood, Ruja Ignatova, Ronnie Skold, of Prosper Ltd, and Nigel Allen of Brilliant Carbon had joined. The article continues:
By August 2014 BigCoin was on the verge of collapse, which prompted the company to create another cryptocurrency.
BNA was touted as the savior of BigCoin. Neither “currency” was open to the public, with trade restricted through BigCoin’s internal CoolsDAQ exchange.
Not surprisingly, BNA also crashed upon release.
After scamming who knows how much from a predominately Chinese affiliate-base, the BNA crash prompted the departure of core Prosper Ltd members.
Shortly thereafter, they began initiating plans to launch their own clone Ponzi points currency.
You know it today as OneCoin, run by the Prosper Ltd members who deflected from BigCoin.
So do we say that BigCoin, and Loopium before it were scams and therefore so is OneCoin? Or were the first two companies early failed attempts at a business plan that so far seems to be succeeding as OneCoin?
There are a bunch of blogs out there claiming it is a scam, but Blogs tend to be about sensationalism so as to get hits and they are thin on credibility. Check out the video below on that. So if you’re going to google OneCoin, be careful. It might help to check the authority ranking of the websites you find with MOZ Research Tools.
I finally feel like I have some definitive results, having watched the Let’s Talk OneCoin video by Harley, Tayshun, and Lazar. I took notes, and frankly it looks pretty bad.
You can also visit OneCoin Exposed as Global MLM Ponzi Scheme!
Some say OneCoin is a scam because onecoins, being a cryptocurrency, have no intrinsic value but are expected to go up a lot in price simply because more and more people will want to own them. This complaint doesn’t hold water. Yes, presently the increase in the price of onecoins is driven by the rapidly growing number of people wanting to own them. But that was true of Microsoft, Apple, McDonalds and you name the company stocks of any start-up company that grew into a viable business because it devised and produced something new that became used by many. OneCoin, the company, may have every intention of doing just this.
It has become obvious to the business world (and will soon be obvious to the rest of us) that cryptocurrency is such a product. So the answer to the scam complaint really boils down to, what is the actual intention of the folks running the OneCoin company? Are they simply running a ponzi and plan to cut and run when the influx of new recruits slows to much to sustain it? Or do they actually intend to produce a viable currency and associated loyal clientele of users happily using it to buy stuff and to easily and cheaply transfer funds around the world and to and from places that banks don’t reach?
Here is the evidence I have been able to garner so far. Anyone with something more, please let me know!
And would the following man be involved, if this were a scam? Really? Watch the first 5 or 10 minutes.
OneCoin says their blockchain is independently audited by Semper Fortis, a subsidiary(?) of Morison International, making OneCoin the only audited cryptocurrency. But it looks like Semper Fortis audited OneCoin only once and another company has was used after that. However, and here is a scam alert for you, OneCoin’s own website shows no audits of any kind after January of 2016.
As a business startup, the company has broken all records. It has gone from effectively 0 members, with the value of all OneCoins mined being something close to $0 around January of 2015, to almost 2 million members and a value of almost $4 billion as of the end of March, 2016. Also, as a prospective business it is notable that this has been achieved entirely outside of the United States and it seems to just be beginning to open up the American market. This is a network marketing business, and the momentum at a stage like this in a network marketing business gets very strong.
It is expected that in the spring/summer of 2016 OneCoin will announce the launch of its eCommerce platform. Over 500,000 vendors are said to have signed up to participate.
And watch the first 10 minutes of this:
Above video from October, 2015 starts out explaining what bloggers do. At 6:30 IRS and CTFC defining cryptocurrencies as commodities. At 9:00 Dr. Ruja does the right thing pauses U.S. promotion and redraws paperwork. Then the speaker goes off onto what mlm is.
As of April, 2017 the only official websites for OneCoin and OneLife are these:
OneLife: https://www.onelife.e u/
OneCoin: https://www.onecoin. eu/
OneAcademy: http://www.oneaca demy.eu/
OneWorld Foundation: http://o neworldfoundation.eu/
DealShaker: https://dealshake r.com/
OneForex: https://oneforex.eu /en/
OneCoin Cloud: http://www.one coincloud.eu/packages/
If in doubt, please contact ou r Support Team: support@onelif e.eu