THELOGICALINDIAN - Bitcoincom chatted with Tim Tayshun buyer and abettor ofezCoinAccess who has been in the industry for absolutely some time Tayshungives our readers a absolute wellresearched abridgment of the declared ponzi and cryptocurrency MLM aspersion alleged Onecoin He believes he has provided abundant advice actuality which is all-encompassing to prove that Onecoin is absolutely a betray and not the Bitcoin Killer it claims to be
Also read: UK Credit Rating Downgraded Amid Post-Brexit Uncertainty
OneCoin: One of the Largest Digital Currency Scams Exposed
Bitcoin.com (BC): Can you briefly acquaint our readers a little about yourself and how you apparent Bitcoin?
Tim Tayshun (TT): I bethink actual vividly, the exact day, in fact! On Feb. 28th, 2013 (BTC amount $27) a acquaintance absurdly declared to me what Bitcoin is to him. On March 15th (price $37) I typed “what is bitcoin” into Google Search and appropriately began my aboriginal of two “journeys bottomward the aerial hole.” Watching the Cyprus ball and Bank runs disentangle I bought some BTC on April 1st (BTC amount $100). I followed it actual carefully for the abutting year and in March 2014 I awash some BTC and started ezCoinAccess, LLC. , with the ambition of owning and agreement a Bitcoin ATM locally. As the name implies, our focus was on authoritative Bitcoin easier and added widespread, and we ample a (2-way) BTM would advice achieve this. My accomplice and I jokingly referred to the abstraction as the honey badger’s access to accretion mining difficulty,” as anytime a transaction was made, we’d acquire a few satoshi. On December 13, 2014, nine months later, we apparent Orange County, CA’s aboriginal bitcoin ATM at Mission Market Express (inside OC’s busiest Train Station). It was the 117th 2-way machine, globally. (BTC amount $350)
The aesthetics of ezCoinAccess advance to accompanying developing relationships with Bitcoiner accompany actuality and beyond several African countries, basic an breezy aggregate of “trusted participants,” which we alleged AUTONet (African Umbrella Trust Organization & Network). This grew our arrangement and access and led to fun opportunities, including actuality arrive on an about account base to accord presentations at Bitcoin Meetups beyond Africa (which I do over Skype or HangOuts). This development aggressive the conception of the “Wheel of Bitcoin” in adjustment to do LIVE giveaways of FREE BTC afterwards every presentation for newbs who set up new wallets (and anyone else, really). It has back been spun in Accra, Kumasi and Tamale (Ghana), Gaborone (Botswana), Freetown (Sierra Leone), Dar es Salaam (Tanzania), and Nairobi (Kenya). And added afresh at CoinFest Events in the U.S., Canada, and alike Seoul, Korea. I additionally host a Bitcoin and Blockchain Meet-Up Group actuality in Orange County, CA.
In affiliation to the Africa focus, admitting some abrupt delays and dev issues, myself, David DeSantis and some ally are assuredly ablution NewAfricaRadio(.)Net this summer, which is a amalgamated and crowd-sourced ( 24-hour online) Bitcoin, Blockchain and crypto-centric affairs accurately for Africans; with a simple, chargeless adaptable app to chase by 2024. An absorbing addendum of this additionally ties into addition activity Team I am alive with accept created a abstracted belvedere for blockchain based ticketing, via an appliance we’re calling BiTiX (more on that TBA soon).
BC: When did you aboriginal apprehend about Onecoin?
TT: Let me beginning the blow of this account by advertence that I am SOURCING about aggregate accessible from their aboriginal sources, admitting the language. The advice IS mostly accessible in English, if you look, but Onecoin Kool-Aid drinkers are actual accessible to abolish any abrogating address on their aggregation and accept been acutely indoctrinated into assertive that bloggers are aloof “PCP’s” (“Penny-chasing-parasites” who advance on accession announcement pennies by accepting bodies to click-through the links on their pages, and who seek out Top Companies to advance and sensationalize lies about them).
A “PPP” is a “Pictureless Profile Prick” who comments on blogs or belief after an absolute photo of their face on their thumbnail image, and who is aloof “jealous,” a “hater” or accepting “fear” (as against to “faith” in Ruja and Onecoin). This cult-like conduct and apprenticeship actually causes them to advance aural the betray with 100% blinders on, assertive ONLY what they are told by the Leaders, and NONE off the facts, affirmation and affidavit for which they are accustomed from the “evil detractors.” Rather than afterward the bedraggled multi-million dollar money trail, which is lining the aback pockets of the Top Leaders and co-conspirators in the scam, from themselves, the victims; their absorption has been absent to advance groups and bodies who are added acceptable to be advised Consumer Rights and Protections Advocates! It is accurate lunacy!
I aboriginal heard about Onecoin anon afterwards carefully afterward the abominable Paycoin (XPY), GAW, Josh “Homero” Garza, “$20 Floor,” Merchants “Coming Sooooon!™” beating and watching that train-wreck unwind. I bethink cerebration how actually crazy it was seeing their PayBase Logo flashed beyond the Miami Beach Hotel after-party and pool-side Paycoin HD commercials angled on every TV at TNABC 2015 (Onecoin approved demonstrating believability by affairs a similarly big-ticket and 100% paid advocacy stunt 9 months after by purchasing the 4th Annual EU – South East Europe Summit, captivated by The Economist)!
So, about March of aftermost year addition hit me up allurement me if I capital to accompany Onecoin. Onecoin is declared to be the “most transparent” cryptocurrency aggregation (their *blockchain is “audited” – **read ridiculousness). However, they are both Centralized and Closed Source. Their affirmation is that they acquire “fixed” all of Bitcoin’s “flaws” and are “better than Bitcoin!” Ummmm… “Odd” – I thought. And about ten sec. afterwards affairs up their embarrassingly amateur attractive website (perhaps speaking to their abstruse abilities to alike accomplish an alt-coin) and communicable audacious spelling and grammatical errors, I accomplished that this was the aboriginal “cryptocurrency company” in the world, which did not alike acquire cryptocurrency!
For ball purposes, I absitively to watch one of their abhorrent videos HERE: (Ruja describes “switching on” the blockchain), and explains Onecoin “mining.” Here I abstruse article about cryptocurrency “value,” which contradicted all ahead accepted laws of accumulation & demand, which artlessly was that “the college the mining difficulty, the college the amount of the coin!“
BC: Do you anticipate Onecoin is bigger than MMM Global?
TT: There are both differences and alarming similarities. MMM Global at one point had from 5 to 40 actor Associates who absent up to $10 billion. MMM started in 1989, declared defalcation in 1997, and Sergei Mavrodi (the Founder) was on the run until his arrest in 2003. In 2007 he was bedevilled to serve 4 ½ years in Russian Prison. But, aural a year of his release, he was at it again. Another year after he froze all pay outs, afresh started afresh some months after with agnate results. This has been a “rinse and repeat” aeon from 1989 to present. This is the power, bamboozlement and archetype archetypal of the ponzi world. Juha Pariala, their Top Leader, whom Onecoin claims is authoritative $4MM per ages has a motto, “Duplication is Everything!”
By comparison, Onecoin is alone 22 months young, although it claims to accept brought in $4.1 Billion Euro from an declared Membership of over 2.1 actor Independent Affiliates (IA’s) during this time. Affiliates acquirement “Cryptocurrency (mis)Education Packages” (DETAILS) ranging from 110€ to 27,500€ (and added afresh a 100 000€ “ELITE” package!!!) which all appear with (ponzi-) tokens for “mining” (ponzi-) coins; however, there is NO “mining,” as you could accept guessed, as the action of this arrangement is based anon on exchanging “X” bulk of tokens for “X” bulk of coins, beneath the apocryphal apriorism that all associates are “mining” a coin.”
ONECOIN NEWS REPORTS ON FINLAND TV (subtitled)
BC: How does Onecoin work?
TT: IA’s acquire 10% agency on anyone they assurance up, but with the admonition that alone 6% goes into their “cash account” while 4% goes into what is alleged a “mandatory account.” So, the banknote annual is doughy but big-ticket to abjure from (I accept 15€); and the binding account, as the name implies, alone allows you to either buy added tokens (or coins) or to use appear advance your bales appear the Infinity Package.
Note: there are IA’s who accept assorted or alike dozens of accounts!)
Additionally, the added big-ticket or assorted bales you buy (or “credits” you “roll” from your Mandatory Account into), the added tokens you get for mining, but ALSO, the added “SPLITS” you get with, the college package. “Splits” are a accepted betray in the ponzi apple because they bifold the bulk of your tokens (which are absolutely alone ponzi points), but clashing any stock, article or asset, do not affect the amount of that asset (or in this case “cryptocurrency”). There is a “Split Barometer” (which seems to be angry to any slow-downs to Onecoin’s Alexa Ratings Rankings) to acquaint IA’s back their money will abutting double, and accordingly how adamantine they charge to assignment to hussle in new victims.
Onecoin alike offers article declared “CoinSafe” (more like “CoinUNsafe”) which promises to acquire added absorption of 12% (“like a bank”) on any bill you accumulate “locked” in an annual for 12, 18 or added months. How this absorption is accrued charcoal a abstruseness (are bill from the declared blockchain somehow “reserved” for after allocation!?).
Onecoin has falsely answer a “KYC” policy, which they affirmation will be placed anon into their “New Blockchain” in October. October 1st is back they “switch on” the “new blockchain” and allegedly “transfer coins” from the old one to the new one (cause you know, that’s possible), as able-bodied as “Double” all associates accepted bill and tokens (some new affection in blockhcain tech they invented, apparently?). Anyone abroad see the applesauce of these claims?!
Despite Ruja Ignatova claiming that “Onecoin will ‘bank the unbanked” (where accept we heard this before?), anyone accustomed with KYC knows that this affirmation is absurd and will accept to be abandoned. Onecoin’s accepted KYC action took an exceptional of 30-60 canicule to administer for and does NOT administer whatsoever back signing up for the scheme, but alone back attempting (and with a >95% abort amount according to the barrage of bound deleted FB posts not their official pages) to advertise coins. To aback prove how antic their artificial “KYC” Action is, Onecoin Ponzi Pimp, Ken Labine, active up his cat! I am not joking! Labine’s cat, Milo, is a “Onecoin Miner,” HERE.
It is important to note: about aggregate and every adjournment which Onecoin does is alone for the purpose of aggravating to accumulate money in the bold longer. This is all-important in adjustment for new funds advancing in actuality accessible to pay off absolute investors.
FOR A MUCH MORE DETAILED DESCRIPTION OF THE SCHEME AND HOW THE PONZI/ PYRAMID HYBRID IS STRUCTURED, SEE HERE HERE.
Interestingly, about bisected of Onecoin’s absolute arrangement comes from their acquisitions of added bootless ponzi scams, their acquaintance advice and, of course, their already burst dreams, which Onecoin promises “will accomplish up for it this time (and assuredly accomplish them rich, of advance – afterwards they “buy in” again).” These above bootless ponzi scams, now allotment of Onecoin are able-bodied documented, and include: Conligus (10,000’s of associates est. – the Steinkeller brothers), Univer Team (120,000 associates est. – Alexandre Arenales), Unaico/ SiteTalk, OPN (Opportunity Network), ( over 400,000 associates est. – Sebastian Greenwood , Frank Rickets, Christian Goebel, others), Bonofa (60,000 associates – Christian Goebel), BNG International (10,000’s associates – John Mercucci). Every distinct one of these bodies listed, and a abundant accord of added Top Leaders in Onecoin accept been complex in added scams, several in abounding cases, and for some, scamming is actually their career!
While abounding accept no abstraction that this is a scam, accepting aught backgrounds in cryptocurrency OR MLM (in some cases), I accept contacted and announced with dozens of Team Leaders who DO know, but artlessly don’t care! The money is too acceptable and they accept already congenital their downlines and are authoritative money! For this reason, Onecoin will CERTAINLY account greater banking confusion than Mt. Gox, several times over, and will be the absolute account of several suicides, guaranteed. I am academic at atomic a dozen. Maybe more! This is the absolute storm for massive banking accident and suicides, as able-bodied as abysmal abashment and embarrassment for those who accept accustomed a downline, which includes any accompany and family. This will be like their worse hangover imaginable, and it will break with abounding of them for years to come, as these types of astronomic scams are adverse accord destroyers. They say hindsight is 20/20.
BC: Can you acquaint our readers about the leaders of Onecoin? Such as Ruja Ignatova?
TT: “Dr.” Ruja Ignatova has a adequately arid LinkedIn Profile and actual little absolute affirmation for such an allegedly able woman (dubious claims include: “200 IQ/ MENSA Member,” “Business Woman of the Year, Bulgaria in both 2012 and 2014 [note: there is no such official accolade or Title],” “‘Expert’ in Cryptocurrency,” “Consulted cryptocurrency companies,” “has accounting a book on cryptocurrency,” and abundant added counterfeit claims). She is the Cult Leader, and there is some affirmation suggesting that she and Sebastian Greenwood are absolutely alone the puppets to a far added adverse and abominable bent underbelly. But, let’s focus added on what we apperceive and can prove.
So, here’s what we anticipate we know:
HERE is, I accept her aboriginal (and LAST) account EVER with a cryptocurrency apostle accumulation out of Estonia (where they are additionally beneath investigation).
Sebastian Greenwood is the Master Distributor at Onecoin. He was heavily complex in BigCoin (Onecoin’s actual predecessor) and Prosper Club (AKA: Prosper Inc.) with partner/ scammers: Jarle Thorson and John Ng, which defrauded investors out of over $50MM. Ruja Ignatova appears to accept about functioned as a Treasurer for this scam. Prior to this, He was additionally complex (as Global Product Mgr) in the SiteTalk/ Unaico scam, which followed the archetypal ponzi playbook, and additionally amount investors tons, and which after alloyed a allotment of affiliates into what is now Onecoin. Additionally, he was CEO and Co-Founder of Loopium.
Nigel Allan was the aboriginal President and face of Onecoin, aboriginal on, advancing afresh out of several scams which blanket everyone’s money, including Crypto888 and Brilliant Carbon (which awash affected “carbon credits” to investors). He is a career bent but had a falling out with Ruja in January of aftermost year (probably too abundant clay to apple-pie clean). Watch this abbreviate video for his and added of Sebastian’s history.
BC: Can you explain the contempo appointment they had and what that was all about? They had a assurance there calling “Bitcoin dead” right?
TT: They had a three adventure alpine angel abaft the date claiming, “Onecoin: The Bitcoin Killer!”. This occurred at Onecoin’s better accident of the year, “CoinRush, London,” on June 11th. Leading up to this event, Top Leaders in Onecoin had been claiming for over a year that as anon as they hit 630.000.000 bill mined (30%), that they had amid 50,000, 150,000 and “500,000 Merchants already lined up” to be on-boarded. Ken Labine alike recorded a video of himself, absolutely athrill about actuality able to buy “whatever you could anticipate of, cars, Ferrari’s, etc.,” as anon as the 30% “mined” happened (HERE is that crazy video HERE is that crazy video).
Mind you, they do not accept a wallet and the bill ONLY barter internally, and their amount is created based on one of two factors: 1.) it can either abide connected (i.e., horizontal), or 2.) it can go up. Nevertheless, 30% “mined” came and went mid-April and there was not a distinct chat from the Company. Due to this, Ken Labine and others had egg on their face for able their downline what their upline had promised them: Merchants! But, ALL reps bent that this advertisement would appear at the massively absorbed London Event, CoinRush! What happened instead, was Ruja appear the following:
For added assay of the June 11th CoinRush Event in London, analysis out this blog (and some of the added abundant Onecoin coverage) HERE.
BC: You are planning on accepting a chastened agitation with Ken Labine. Can you acquaint us about this?
TT: Sure. Labine has agreed to accompany into a “Moderated Debate” this Wednesday, at 12:00 NOON Pacific Standard Time. He told me he doesn’t appetite to allege until 24 hrs afore the event. I aloof achievement he shows! Stay tuned! I will column the articulation or chase up actuality or in the comments
Labine and I accept a bit of history. A year ago we had a “friendly” on-air altercation about Onecoin. We initially agreed on abounding of the ideologies for acknowledging a cryptocurrency, but of advance disagreed 100% that Onecoin was a absolute one. Like any indoctrinated Onecoiner, Labine has agitation afterward argumentation and is dismissive or alienated of any of the absolute issues.
Fast-Forward to April 9th, 2016, CoinFest. Labine agreed to agitation me at 4:00 PM PST, which I planned on accumulation into the beat of the Event. We had some air-conditioned speakers already, Amy Elizabeth from the Decentralized Library of Alexandria (FB Page) and M.K. Lords of AirBitz. So the agitation was activity to be a fun diversion, but rather than absolution me allege a distinct chat he agitated on his “Opening Statement” for actually 4 hrs. 20 min. Besides hardly abolition the day’s schedule, this abhorrence and abstention was the axis point in which I acquainted it was absolutely time to go adjoin this behemothic betray and betrayal the lies and bribery of Onecoin, as broadly as possible. Without allotment names, there are abounding accept contributed to documenting the artifice and ponzi attributes of Ruja and her scam, and they are the ones who paved the way for what we apperceive today.
Onecoin is a decidedly abhorrent and devious, amalgam ponzi/ pyramid/ cryptocurrency scam! It is a decidedly alarming one, as its associates are not alone financially angry to their acceptance in it, but bodies are additionally INCREDIBLY emotionally angry to it, added so than annihilation abroad I accept anytime seen, and in a agnate way we enthusiasts abutment and accept in the approaching of REAL cryptocurrencies like bitcoin, Dash, Ethereum, etc!
It is no exaggeration at all to characterization this a “cult,” and I am not joking! Albeit in German, this Account Report talks about Onecoin application crooked MasterCard, actuality a ponzi/ pyramid scheme, actuality looked at by banking regulators, AS WELL AS an Agency ambidextrous accurately with sects (like Scientology) HERE!
In fact, Germany is alone one of about a dozen countries who accept afresh opened investigations into Onecoin. Video from a above News Network letters on the absolute arrest of several Onecoin Leaders in China, this accomplished March and about Onecoin actuality an actionable ponzi scheme, and interviews a Police Officer from Ghuang Zhong who is alive with Top Authorities via “Project Hurricane,” which was accomplished to action cyber abomination and these types of scams. $45.7 actor dollars was bedeviled from the Onecoin investors during the arrest (VIDEO HERE).
The Swedish Gaming Board declared OneCoin to be “a alternation letter bold or similar,” afterwards Police launched a basic analysis (SEE HERE) NOTE: You should be acquainted that beneath Swedish Law, a alternation letter is the aforementioned affair as an actionable pyramid scheme. The Norwegian DSA alarm OneCoin out for actuality an “ugly” pyramid arrangement (SEE HERE). The Norwegian DSA went on to say that “OneCoin is marketed in Norway as an advance scheme. An “enormous” ROI of about 18,000% is cited in OneCoin promotional material, forth with claims OneCoin can be acclimated like a coffer annual that pays 13% interest.”
NOTE: While claiming to be the new Bitcoin, they instead concentrated on affairs alleged “Tokens”… which accumulate themselves with accurate acceleration back they frequently split, which agency that the cardinal of tokens doubles (company-wide) after a bead in value. This, the Norwegian DSA claim, is affirmation of pyramid arrangement fraud.”
Austria has issued a admonishing to its citizens that OneCoin was an actionable pyramid arrangement (SEE HERE). Latvia has additionally declared OneCoin to be an actionable pyramid arrangement and Ponzi (SEE HERE). It should be acclaimed that none of this or annihilation abroad is abundant to argue Labine or others what’s absolutely activity on. They are artlessly “smarter” than all of these Federal authorities and added Agencies who “do not accept Onecoin.”
The Founders of one of the better Ponzi scams in contempo history, Zeek Rewards, will be activity to cloister abutting month, July 7th, to face Trial on a Federal Indictment. One of the abounding facts that the Department of Justice will be aggravating to prove is that: “The co-conspirators acclimated this money, in Ponzi-like fashion, to pay added victim-investors in the arrangement and to alone adorn themselves.” “…and that the accurate acquirement of the arrangement …came from victim-investors.”
It is accessible to see how this would additionally be the body of the case if and back Onecoin or any of their Top Ponzi Pimp Affiliates are accusable by Prosecutors actuality in the U.S.
As the Ponzi arrangement grew in admeasurement and scope, banks and added banking institutions began to catechism the co-conspirators about the counterfeit actualization of the scheme, and abounding shut bottomward or banned to accessible Zeek coffer accounts. – And this is absolutely what has been accident aural Onecoin, as article like 15 bank, so far, accept affected them to abutting their accounts on acquiescence and apprehensive action concerns, such as Money Laundering. More advantage on what the agnate ponzi scheme, Zeek Rewards, is adverse HERE.
In commendations to the coffer changes, it appears that the IMS Account set up with Deutsche Coffer is endemic by Frank Rickets, above CEO of OPN/ SiteTalk, a accepted ponzi which absent everyone’s money. This would assume to be the actual analogue of Money Laundering, back it is not alike in one of Onecoin’s abounding Carapace Companies (great commodity accoutrement the carapace companies and Real Estate investments from a contempo Bulgarian Newspaper. links and so abundant added can be begin in this Finnish Blog, which has able-bodied over 8,000 comments on the scam: MuROBBS). It was new accompany from this blog who contacted me, claiming to apperceive ancestors and accompany there and in adjoining countries who accept actually mortgaged their homes or alveolate their absolute 40 years account of Life Savings into this “get-rich-quick scam, which will alter Bitcoin as the #1 cryptocurrency.
BC: Onecoin says it is additional better cryptocurrency abaft Bitcoin in bazaar cap. But it doesn’t appearance it on coinmarketcap.com or anywhere else. Why is that?
TT: Onecoin is not traded on the accessible market. If it were, it would crash. No barter will account an unfungible alt-coin, decidedly one with no accepted developers, technology, aegis or benefit. So, Onecoin agilely created their own. However, like in abounding of their scammy efforts, Onecoin has apparent themselves acutely apathetic in alike authoritative their bogus bread canyon any absolute scrutiny, whatsoever. They created what they alleged a “cryptocurrency exchange,” xcoinx. But xcoinx does not action at al, alike admitting it has been over a year back its May 2024 launch. 100% of their FAQ’s are plagiarized, verbatim, from BitStamp, as able-bodied as plagiarizing the UI mostly from CoinMarketCap (and agreement Onecoin as the #2 in bazaar capitalization, anon beneath bitcoin and aloft Ethereum), as apparent and can be compared below:
Onecoin has advertised this as an absolute 3rd affair site, which is aloof addition lie. One of their Top Team Leaders in the UK, Joby Boughey (formerly a Team Leader with addition behemothic ponzi betray alleged “U-Fun/ U-Token”), accidently appear the accuracy in his blog, that xcoinx is, in fact, Onecoin’s abreast endemic armpit SEE HERE. (He after contradicted himself, but the cat is already out of the bag). In a short, but amusing extract from the 4 ½ hour agitation I was filibustered on, on April 9th, Ken Labine is bent arguing adjoin Onecoin CEO and Founder, Ruja Ignatova about whether or not it is alike an “Exchange” HERE.
Onecoin is bedeviled with Bitcoin. A Onecoin Press Release afresh affirmation that bodies were abrogation Bitcoin due to “the amount plummeting” and due to its “recent accelerated decline.” NOTE: Bitcoin is up about 30% back the day that came out. HERE IS THE OFFICIAL PRESS RELEASE. Compare this to a 12-month bitcoin blueprint from the day the Press Release came out HERE.
BC: Is Onecoin a cryptocurrency at all?
TT: Well, a above onecoin affiliate says THIS. Onecoin CLAIMS to appearance Onecoin’s blockchain in their aback office, but let’s assay this. I will airing you through the affidavit that the blockchain assuming in the aback appointment is bogus, step-by-step! Take a look at this.
You all admit this screen.
So, let’s all chase forth now.
1.) Bottom Right TITLE: “Current Block is Mining From” Here is you affected “blockchain” as apparent in your aback office. This is artlessly a angled adverse (banner) VIDEO pasted over a looped video source.
So, the above-looped video with the adverse amid over of it for “blocks mined” that flashes every ten minutes, which you all see, alone gives the “appearance” of article abstruse happening, but of course, it’s all aloof smoke and mirrors.
BUT WAIT! THERE’S MORE!
2.) TOP LEFT, COLUMN ONE “Block Height” – annihilation amiss here. This is artlessly the block calculation back the declared Genesis block.
3.) COLUMN TWO: AGE – There is little aberration from 10 minute block times.
This doesn’t accomplish faculty FOR TWO REASONS: a. There is aught “difficulty” aural a bankrupt bend arrangement – REASON: a bankrupt arrangement does not “compete” with others. It is a self-satisfying accolade EVERY TIME. b. If it were not a bankrupt arrangement than there WOULD be competition. As such, while the block times should AVERAGE 10 minutes, it is alone an average. You would absolutely see 3 minutes, as able-bodied as 15-20 minute block times occasionally because computers are actually “guessing” solutions, and USUALLY the bulk of peta-hashes attractive for such solutions would be agnate to the bulk of bread flips it would booty to acreage on active 10x in a row. After about ten minutes, one of the after flips ability do it. However, it is unlikely, but accessible it could booty 20 account or one minute. So, such little aberration is absolutely “faked” and I accept looked at MANY examples in the aback appointment of block times and accept never alone apparent added than a minute of difference.
4.) COLUMN THREE: TRANSACTIONS – Just Lol for abundant reasons: a.) I accept never apparent added than one transaction acquaint here.
WHAT DOES THAT IMPLY? Well, as you know, there are an declared 1.85MM bodies who accept traded tokens for mining. The administration of those tokens would appear from the blockchain (unless they accept created in Excel Spreadsheets [which they assume to be]). So, there should be NUMEROUS, MAYBE HUNDREDS of affairs per block!
b.) S-Systems (Onecoin’s affected accountant [similar to your affected exchange, xcoinx, and operated by Onecoin themselves] who has not appear an analysis for this “transparent” aggregation back January) declared in their antic of an Analysis (which has ZERO TECHNICAL DATA (- WHICH IS WHAT AN “AUDIT” IS!), which reads added like a Letter of Reccomendation to oneself, “There are no affairs not included in the Blockchain.” – well, as I aloof demonstrated, this is a lie AGAIN, FOR TWO REASONS:
#1 This is a “logical fallacy” because if a transaction occurred alfresco the blockchain, HOW WOULD THEY KNOW!?! ANSWER: THEY WOULDN’T.
and #2 if it were true, which it acutely is NOT, than affairs from anniversary block apparent would be registered in the blockchain as affective into your aback office. Every time addition gets bill from mining they would be able to see the bread administration from anniversary block.
5.) COLUMN FOUR: TOTAL SENT – this is alone “coins created” and it is alleged hyper-inflation. Other than that, annihilation to point out here.
6.) COLUMN FIVE: SIZE (KB) – this is hilarious, additionally AGAIN, FOR A FEW REASONS! All sizes are apparent as 188KB (although afresh they appearance as 189KB).
#1 this indicates that there is alone a distinct transaction as apparent in cavalcade 3. However, the admeasurement of a distinct bitcoin transaction is about 1-2KB, so this makes no sense.
Furthermore, #2 if there were any “difficulty” in the mining action and if computers were batching affairs for bill created and distributed, than every distinct block would alter in KB greatly.
7.) BOTTOM LEFT: LATEST TRANSACTIONS – The PURPOSE of a “block explorer/ blockchain” is to be able to “FIND” affairs and transactional history. This is annihilation “proprietary” that would charge to be hidden. It artlessly does not abide with Onecon. You CANNOT “click” a transaction and acquisition the history of it. Neither can you appearance any blocks or affairs over an hour and some change old.
THIS, AGAIN, PROVES THAT THIS IS NOT A BLOCKCHAIN. JUST NUMBERS ON A SCREEN TIED TO A “COUNTER” USED TO DECEIVE.
Furthermore, (technical) the alphanumeric hashes apparent as “transactions” accomplish no cryptographic sense! They are NOT algebraic based in a cryptographic fashion, which could articulation any inputs and outputs calm algorithmically. It is a complete farce!
BC: Do you anticipate Onecoin will abort and will aching investors?
TT: Of advance it will. The aggregation was Founded by an arrangement of able and career con-artists who accomplish their money tricking and ambidexterity people. I was afresh arrive to participate in a baby console altercation amid addition MLM Able and Onecoin “Defector” and a adjudicator of the discussion, to epitomize Onecoin’s history. I was aflame to see the absolute podcast best up by “Internet Crime Fighters Organization (ICFO)”, in its entirety, which you can see here: http://internetcrimefightersorg.com/onecoin-review/ in aloof one month, admitting its poor audio at times, its acutely abstruse accountable amount (Onecoin), and its breadth of aloof over 2 hours, it already has about 5,000 views!
Even admitting Ponzi schemes sometimes begin as a accepted business, Onecoin is not alike close! It’s Founders accept ALL been complex in antecedent scandals, banking crimes, and ponzi/ pyramid schemes; best are career fraudsters, others bedevilled felons. Followers will say that “the accomplished is the past,” but abort to accede that there has been actually no change in these “leaders” behavior! Look: Onecoin and Ruja Ignatova accept aria about. “Business Opportunity,” which solicits advance on the base of advertised ROI’s and is application anew invested funds to pay off absolute investors, cannot succeed.
The centralized attributes of Onecoin creates a distinct Point-of-Failure, which Ruja has already exploited assorted times: As apparent HERE, Onecoin has already defrauded one of its members, Chris Stone, of $200,000 account of “ponzi points” by absolute theft! Ruja has REPEATED this annexation afresh with Onecoiners who are afresh abrogation due to these types of revelations which are advancing out. Another Top Team Leader, who fabricated a video accusatory about their own contempo theft. HERE: Message to Dr. Ruja Ignatova Onecoin from X Onecoin Top Leader & host Imi Shah.
There is added affidavit that Onecoin’s “non-profit charity,” One World Foundation (CEO: Ruja Ignatova) is aloof addition affected carapace aggregation acclimated to lanuder money, and to accord the actualization of a absolute alignment set up to legitimize Onecoin, itself HERE.
FORBES MAGAZINE COVER AND EDITORIAL LIE:
Onecoin paid at atomic $300,000 to acquaint in a business arm of Forbes, Bulgaria, alleged Brand Voice. However, two abstracted Onecoin Team Leaders actuality in the U.S. claimed they had paid $1MM (of investor/ ponzi earnings, of course).
Onecoin answer the artifice on their official website as an absolute Forbes “cover” (and article) in adjustment to allurement in new investor-victims money HERE, but this was alone a paid advertisement. See Brand Voice Media Kit: HERE
HERE IS THE ACTUAL FORBES COVER FOR THIS ISSUE (directly from Forbes Bulgaria’s website).
FINANCIAL IT COVER DECEPTION:
The Financial IT Feb. The affair with Ruja on the awning is AN EXACT REPRINT of January. Onecoin PAID to artlessly album January and add a new awning and admit one article. Otherwise, both issues are identical.
Video PROOF, which is a bit too long, HERE
Here is the January affair anon from Financial IT’s own website
Here is a slideshow of the February affair with Ruja, anon from Onecoin Norway’s site
Ruja and affiliates accept claimed to accept bought several banks, including Hermes Bank (SEE DISCUSSION HERE) Sal Leto, Onecoin Ponzi Pimp and Team Leader in USA claimed, “(OneCoin) has acquired a hundred and eighty cyberbanking licenses, to accurately own their own banks, their own annex and their own office, central all one hundred and eighty countries that we accomplish in.”
She and the Top Conspirators accept LIED about about aggregate there is to LIE about, including that in 2024 and 2024 she was awarded Business Woman of the Year in Bulgaria (Category International Business). But this too was artlessly a paid publicity achievement perpetrated by a Professional Image Consultancy close in her country. The Title “Business Woman of the Year, Bulgaria,” does not formally exist!
CONCLUSION: This is ALL smoke and mirrors advised to deceive bodies and booty their money! Onecoin has no ambition of accomplishing otherwise, and it is not now, nor will it anytime be an absolute and traded cryptocurrency (with a 120 BILLION bread cap), let abandoned with ONE MILLION Merchants!
BC: What is the ambition of your mission actuality by arduous Onecoin?
TT: Not anybody complex in Onecoin are scammers, of course. But I accept alone announced with MANY IA’s and Team Leaders who accept ADMITTED that they are absolutely acquainted of it actuality a artifice ….but they don’t affliction “as continued as we’re authoritative money!”
Part of my Ambition is to prove already and for all that Onecoin is founded by bad players and con-artists who apperceive annihilation whatsoever about cryptocurrency. It is based on a abiding arrangement of new and acceptable lies in this amalgam scheme, which is alone meant to deceive and accompany in new investors to pay off the old. It is to prove that the company’s founders accept accustomed a arrangement of artifice and that the end ambition of this is no different: to adorn themselves at the amount of others. It is to authenticate that you cannot assurance these people, as they do not accept anyone but their own best interests in mind, and that they will do or say annihilation to accumulate the money rolling in as continued as possible. It is to deliver that Due Diligence is important whenever you are because entrusting your money with startups or alleged “Business Opportunities.”
My MISSION for arduous them is for boundless disclosure, advertisement their endless incidents of lies and deception, so that they collapse sooner, rather than later. This acumen is twofold: #1.) beneath bodies aching and financially destroyed, #2.) to abate the acknowledged and all-around aldermanic and authoritative ramifications of a additional (or now third with the DAO) Mt. Gox.
Cryptocurrency and Blockchain Technology can and WILL change the world! I am acquisitive that Onecoiners will eventually appear to their senses now, rather than afore it is too late, but either way will appear to accept the abundant industry, market, opportunities, and abandon which an honest and cellophane cryptocurrency can be
Final note: There are affluence of things I was not alike able to cover, admitting the breadth of this. However, the hyperlinks herein will abetment anyone (or Authorities) investigating the accountable to burrow abundant added acutely into this adverse apple of pseudo-cryptocurrency/ ponzi/ pyramid fraud. Good luck!
Bitcoin.com would like to acknowledge Tim Tayshun for acceptance our readers to appearance his research.
What do you anticipate about Onecoin? Let us apperceive in the comments below?
Images address of Pixabay, and Onecoin Websites and articles
