@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 -
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.