User avatar
Acidyo
Nickel Bitcoiner
Nickel Bitcoiner
Posts: 182
Joined: Tue Oct 27, 2015 8:56 am

Donate BTC of your choice to 14EvhgnCa62LRKY5ksj9v9UAvM2TsJG8MZ

onecoin.eu

Sat Feb 13, 2016 1:26 am

Hey I've been looking at this one for quite some time now and even though I have an own personal conclusion to it right now, I would want others to check the site out and see if you can find some more info about it and are better at detecting scams than me. Help would br appreciated as they have spread themselves a lot and many friends I know who don't knoe much about crypto or btc have gotten lured into their referral program and have started referring more people. Hence why I'm a little worried about their "investments".

Will add some of the defining links that lead to my judgement of their services later when I get on the pc.

User avatar
nandibear
Global Moderator
Global Moderator
Posts: 2612
Joined: Sat Jan 30, 2016 7:04 am

Donate BTC of your choice to 1DYss8ztWEgcM93SJtnpfYVt6fp7cwmjBk

Contact: Website Twitter Telegram

Re: onecoin.eu

Sat Feb 13, 2016 2:14 am

Hey I've been looking at this one for quite some time now and even though I have an own personal conclusion to it right now, I would want others to check the site out and see if you can find some more info about it and are better at detecting scams than me. Help would br appreciated as they have spread themselves a lot and many friends I know who don't knoe much about crypto or btc have gotten lured into their referral program and have started referring more people. Hence why I'm a little worried about their "investments".

Will add some of the defining links that lead to my judgement of their services later when I get on the pc.
@Acidyo

A significant portion of what they offer appears to be multi-level marketing (MLM). There's more but first I need to do something -

Image
Image

User avatar
nandibear
Global Moderator
Global Moderator
Posts: 2612
Joined: Sat Jan 30, 2016 7:04 am

Donate BTC of your choice to 1DYss8ztWEgcM93SJtnpfYVt6fp7cwmjBk

Contact: Website Twitter Telegram

Re: onecoin.eu

Sat Feb 13, 2016 3:05 am

Hey I've been looking at this one for quite some time now and even though I have an own personal conclusion to it right now, I would want others to check the site out and see if you can find some more info about it and are better at detecting scams than me. Help would br appreciated as they have spread themselves a lot and many friends I know who don't knoe much about crypto or btc have gotten lured into their referral program and have started referring more people. Hence why I'm a little worried about their "investments".

Will add some of the defining links that lead to my judgement of their services later when I get on the pc.
@Acidyo

It also appears that they are affiliated with an arcane coin called Aurum Gold.

For readers who may not already know Aurum is the Latin word for gold (hence the chemical element symbol Au for gold).

So their name means Gold Gold (?)

Image

I don't want to step outside of my wheelhouse here but a 'hybrid' cryptocurrency which is backed by 'gold' (assuming that's true) may not be a wise and judicious idea.

Before Bitcoin and other cryptocurrencies were around there were centralized digital currencies such as:

e-gold (1996 thru 2009 - shut down by the US Gov)

e-Bullion (2000 thru 2008 - shut down by the US Gov)

One could also use E-Bullion to purchase things online (much like one can use Bitcoin to buy merchandise online). By using e-Bullion one was bypassing the US Treasury System and purchasing merchandise using a 100% gold-backed currency.

In any event, I doubt immensely that Aurum Gold (the 'Gold Gold') is really and truly backed by any real gold.
Image

User avatar
Acidyo
Nickel Bitcoiner
Nickel Bitcoiner
Posts: 182
Joined: Tue Oct 27, 2015 8:56 am

Donate BTC of your choice to 14EvhgnCa62LRKY5ksj9v9UAvM2TsJG8MZ

Re: onecoin.eu

Sat Feb 13, 2016 4:58 am


@Acidyo

A significant portion of what they offer appears to be multi-level marketing (MLM). There's more but first I need to do something -

Image
Haha I had a little bit of the same reaction when I was looking through it. You won't believe how many people who haven't been involved in cryptos before have asked me about onecoin. It really seems like they are spreading like a virus through referral bonuses and people mindlessly spreading it for their own gain.

Take a look at this "interview" of the persons involved in it and one of the top earners by referral.
https://www.youtube.com/watch?v=ShVVytHwPmk

The reason I said "interview" is cause the guy asks him one question, not even a question he just says that he will explain about the onecoin business(?) and Juha takes over the rest of the video.

I think the way they bypass laws is by saying that they are selling "education" in form of the packages that people buy, and that the tokens that apparently mine onecoins? on a closed source blockchain (you can see the mining transactions of new blocks on their website though, but no other tx's) and a close-sourced basically everything except the amount of coins that will be created and how many they have "mined" so far. The mining is centralised and the coins can't be bought anywhere else except for on their page. All accounts are on the same page, and they use OnePay which they have created themselves to pay people their bonuses in prepaid mastercards.

In the video he tries to make it clear that once the onecoins are mined and out in the public and open markets it won't be the companies problem anymore what happens to them, he keeps using the phrase "they will be outside of the company" one too many times.

The creator is a Bulgarian (doctor?) Ruja Ignatova and according to cointelegraph the other 2 who are involved in it have been accused of scams in the past but they let one of them go and everything went on as usual after that.

Will post more links when I get access to them, but so far this seems like a complete scam that will only favor the few. Not sure how Bulgaria made this "company" legal and let it used banks to sell their shit, but they are the most underachieving country in europe so it may have something with that to do, no offense to any Bulgarians.

I would want their scam exposed and this public to everyone, too many of my friends have invested too much into it so far and I don't want more people to fall for this. Even if they would create the coin and release it in the market, users who know their crypto will laugh at it and it's price won't hold for a second of what they are "promising" that it should be now. They even publicly use the site xcoinx.com to market their coin, which is laughable as that site isn't even in working conditions. Also they keep using the Forbes magazine poster where the doctor is on the front page of the cover which she obviously isn't on the real edition and they had just paid to do an interview with someone who works for forbes or something similar. It's all very laughable and disgusting how it can get this far without being stopped.

User avatar
nandibear
Global Moderator
Global Moderator
Posts: 2612
Joined: Sat Jan 30, 2016 7:04 am

Donate BTC of your choice to 1DYss8ztWEgcM93SJtnpfYVt6fp7cwmjBk

Contact: Website Twitter Telegram

Re: onecoin.eu

Sat Feb 13, 2016 6:13 am

Haha I had a little bit of the same reaction when I was looking through it. You won't believe how many people who haven't been involved in cryptos before have asked me about onecoin. It really seems like they are spreading like a virus through referral bonuses and people mindlessly spreading it for their own gain.

Take a look at this "interview" of the persons involved in it and one of the top earners by referral.
https://www.youtube.com/watch?v=ShVVytHwPmk

The reason I said "interview" is cause the guy asks him one question, not even a question he just says that he will explain about the onecoin business(?) and Juha takes over the rest of the video.

I think the way they bypass laws is by saying that they are selling "education" in form of the packages that people buy, and that the tokens that apparently mine onecoins? on a closed source blockchain (you can see the mining transactions of new blocks on their website though, but no other tx's) and a close-sourced basically everything except the amount of coins that will be created and how many they have "mined" so far. The mining is centralised and the coins can't be bought anywhere else except for on their page. All accounts are on the same page, and they use OnePay which they have created themselves to pay people their bonuses in prepaid mastercards.

In the video he tries to make it clear that once the onecoins are mined and out in the public and open markets it won't be the companies problem anymore what happens to them, he keeps using the phrase "they will be outside of the company" one too many times.

The creator is a Bulgarian (doctor?) Ruja Ignatova and according to cointelegraph the other 2 who are involved in it have been accused of scams in the past but they let one of them go and everything went on as usual after that.

Will post more links when I get access to them, but so far this seems like a complete scam that will only favor the few. Not sure how Bulgaria made this "company" legal and let it used banks to sell their shit, but they are the most underachieving country in europe so it may have something with that to do, no offense to any Bulgarians.

I would want their scam exposed and this public to everyone, too many of my friends have invested too much into it so far and I don't want more people to fall for this. Even if they would create the coin and release it in the market, users who know their crypto will laugh at it and it's price won't hold for a second of what they are "promising" that it should be now. They even publicly use the site xcoinx.com to market their coin, which is laughable as that site isn't even in working conditions. Also they keep using the Forbes magazine poster where the doctor is on the front page of the cover which she obviously isn't on the real edition and they had just paid to do an interview with someone who works for forbes or something similar. It's all very laughable and disgusting how it can get this far without being stopped.
@Acidyo

Thank you for the helpful information regarding onecoin and why one should stay very far away from it.

I'm an American and I have NEVER be to Bulgaria.

However, I've spent a lot of time living outside of the United States (on and off) and a few year ago (while abroad) I stumbled upon a company which purported to be a binary options brokerage.

I interviewed for a job and they accepted me and put me into a several days long class with other new hires and then after the class they put me out on the floor to listen to the 'brokers' on the phones. I soon understood that this was a boilerroom and that all binary options are a scam.

There are only two possible outcomes with a binary options 'trade':

(1) the client wins

(2) binary brokerage wins.

Their objective is to take the money out of one's pocket and place it into theirs.

I walked out of that place during lunch on the 2nd or 3rd day of shadowing the 'brokers'.

However, I did take with me some new understanding of how these scammers operate:

(a) One boilerroom may run hundreds of different scam websites and as soon as one is totally exposed they just create another to replace it (a small team of front-end developers are working at the bolierroom)

(b) Any negative reviews written online are often soon lost in an ocean of newly created similar search terms which lead to random and wholly unrelated content pages (aside from keywords) which a small segment of the boiler room employees are responsible for creating

(c) Banks accounts are invariably located in Sofia, Bulgaria

Thank you again Acidyo for your helpful review. If I ever hear anyone talking about considering onecoin I will direct them to this thread which you've created here at the Bitcoin Forum.
Image

User avatar
arnoudk
Bronze Bitcoiner
Bronze Bitcoiner
Posts: 631
Joined: Wed Oct 21, 2015 4:04 am
Location: Belize

Re: onecoin.eu

Sat Feb 13, 2016 6:43 am

If you simply google onecoin.eu scam you will find many sites detailing that this is a scam. My instincts are to stay far away from this. When investing and when in doubt - Do Not Proceed. Be sure first, and only when you are convinced that it is not a scam should you invest.

As a general rule, assume every internet investment is a scam, UNTIL you have seen enough solid and verifiable evidence that it is not.

Unfortunately, most people ignore this basic truth when they have dollar signs in their eyes. A fool and his money are easily parted.
Excited about the potential of Bitcoin Cash in the beautiful country of Belize.
Developer of the RegisterDocuments.com Document Registration Service (using the Bitcoin Cash blockchain).

User avatar
nandibear
Global Moderator
Global Moderator
Posts: 2612
Joined: Sat Jan 30, 2016 7:04 am

Donate BTC of your choice to 1DYss8ztWEgcM93SJtnpfYVt6fp7cwmjBk

Contact: Website Twitter Telegram

Re: onecoin.eu

Sat Feb 13, 2016 7:17 am

One Coin, Much Scam: OneCoin Exposed as Global MLM Ponzi Scheme
The CoinTelegraph
May 27, 2015
by William Suberg

Excerpt:

OneCoin, a purported cryptocurrency and trading venture based out of Bulgaria, is suspected to be a pyramid scheme with no verifiable evidence to back up any of its business claims.

...

Also working for OneCoin in various capacities are Sebastian Greenwood and Nigel Allan, both of whom have been involved in scam operations in the past.

Greenwood previously worked with defunct pyramid scheme Unaico, whose activities were the subject of a warning from Pakistan’s Securities and Exchanges Commission. The notice cited “illegal multi-level marketing” practices and advised consumers “to refrain from investing/ dealing in these so-called lucrative business schemes, launched by the Company.”

...

Read more at:

http://cointelegraph.com/news/one-coin- ... nzi-scheme
Image

SGM
Posts: 2
Joined: Fri Mar 17, 2017 12:40 pm

Donate BTC of your choice to 17TzTwcgPEhQwy6Kk9CZMwSfMzSyMCVr7x

Re: onecoin.eu

Fri Mar 17, 2017 12:43 pm

Laughs.
This is what people said about Bitcoin when it was new. And now they're crying because they didn't invest in BTC back then.
Let's see how many of you are gonna eat your words later in 2018.

User avatar
bitkilo
Platinum Bitcoiner
Platinum Bitcoiner
Posts: 3210
Joined: Sat Sep 26, 2015 4:08 am

Donate BTC of your choice to 1DJcTrvdGsmKr7LdriVizkVmkcXWoG12nt

Re: onecoin.eu

Fri Mar 17, 2017 12:55 pm

Laughs.
This is what people said about Bitcoin when it was new. And now they're crying because they didn't invest in BTC back then.
Let's see how many of you are gonna eat your words later in 2018.
I hope you are no saying that you have invested in and support Onecoin? That is the biggest know scam coin going, absolutely nothing adds up in anything they say.
It's all smoke and mirrors, i would warn anyone to look into everything you can find on the Onecoin scam before even thinking about sending any money to them.

Also have a quick check at how much it is trading for on the "largest exchanges" they say the coin trades on.
Please help Ross and his family during this hard time by donating to the https://freeross.org/ fund. Play at the best provably fair Bitcoin games site here: games.bitcoin.com Need a fantastic Bitcoin wallet Pick up some great Bitcoin.com swag here

Cash_cfloyd
Posts: 1
Joined: Tue Feb 14, 2017 3:17 pm

Re: onecoin.eu

Fri Mar 17, 2017 1:03 pm

Hey I've been looking at this one for quite some time now and even though I have an own personal conclusion to it right now, I would want others to check the site out and see if you can find some more info about it and are better at detecting scams than me. Help would br appreciated as they have spread themselves a lot and many friends I know who don't knoe much about crypto or btc have gotten lured into their referral program and have started referring more people. Hence why I'm a little worried about their "investments".

Will add some of the defining links that lead to my judgement of their services later when I get on the pc.
@Acidyo

A significant portion of what they offer appears to be multi-level marketing (MLM). There's more but first I need to do something -

Image
Yes it seems to be MLM!
Varmt i casinostugan om man är en casino heroes

JohnBricksaw
Nickel Bitcoiner
Nickel Bitcoiner
Posts: 58
Joined: Mon Mar 13, 2017 7:55 pm
Contact: Telegram

Re: onecoin.eu

Sat Mar 18, 2017 6:32 pm

another investment+MLM

User avatar
Acidyo
Nickel Bitcoiner
Nickel Bitcoiner
Posts: 182
Joined: Tue Oct 27, 2015 8:56 am

Donate BTC of your choice to 14EvhgnCa62LRKY5ksj9v9UAvM2TsJG8MZ

Re: onecoin.eu

Sat Apr 01, 2017 11:28 pm

I haven't posted on this forum in a while, been mostly on Steemit, but found this really funny:

https://cointelegraph.com/news/onecoin- ... g-ethereum

User avatar
bitkilo
Platinum Bitcoiner
Platinum Bitcoiner
Posts: 3210
Joined: Sat Sep 26, 2015 4:08 am

Donate BTC of your choice to 1DJcTrvdGsmKr7LdriVizkVmkcXWoG12nt

Re: onecoin.eu

Sun Apr 02, 2017 12:54 am

I haven't posted on this forum in a while, been mostly on Steemit, but found this really funny:

https://cointelegraph.com/news/onecoin- ... g-ethereum
Welcome back Acidyo,
This a joke right,

Controversial OneCoin has been declared a genuine cryptocurrency and ordered to be listed on coinmarketcap.com with immediate effect.
Who can order that a coin be listed on a private website?
Please help Ross and his family during this hard time by donating to the https://freeross.org/ fund. Play at the best provably fair Bitcoin games site here: games.bitcoin.com Need a fantastic Bitcoin wallet Pick up some great Bitcoin.com swag here

Return to “Scam accusations”

Who is online

Users browsing this forum: No registered users and 16 guests