Is Onecoin the Next Bitcoin?
Is Onecoin the Next Bitcoin?
There’s a new thing out there called Onecoin. Apparently it’s the greatest thing ever:
OneCoin is more than just a cryptocurrency. To make it successful and unique, we have created a whole concept and universe to make One a market leader in the crypto world. We offer core financial education on crypto-currency in the OneAcademy, an online exchange, and we partner with one of the hottest and newest hybrid crypto-currencies – the Aurum coin. OneCoin uses the latest cryptographic technology and security standards and has a solid marketing concept – enhanced by the OneLife Plan. one coin.eu
I have been asked this question a lot recently – Should I invest in Onecoin? I’ve done some research into it and my honest opinion is no and here’s why:
Onecoin appears to be counter to what a cryptocurrency is – decentralized and open-source. Onecoin appears to have barriers to entry, either in the form of a financial transaction or handing over of personal information, which wouldn’t make it open source in the strictest sense. Also, I would not classify 3 or 4 servers as decentralized, most traditional banks and payment method operators run some form of fail safe system which would consist of multiple server locations, this would not make them “decentralized”.
The sheer lack of information on their website is troubling – nothing regarding the nature of the algorithm and nothing regarding the people behind onecoin.After doing some research, it would appear that the people involved have been accused of fraudulent activity in the past.Other things ring alarm bells: the WHOIS registration details are set to private, with the website itself based out of Sofia, Bulgaria. If any company, especially one that is focusing on finance (and what appears to be multi-level marketing), is not completely upfront about the identity of those in charge, I would walk away.
The “Aurum” coins aspect of OneCoin looks like such BS – they claim it’s backed by 1mg of gold, stored in a vault in Dubai. But then there’s nothing to back those claims up. It’s like me walking into a shop, going to the counter to pay and handing them a piece of paper, with “There’s €50 worth of gold in a vault in Dubai that is now linked to this piece of paper” scrawled on it in crayon.Personally, this whole thing looks like nothing more than a ponzi scheme and it’s a shame that people are using the “cryptocurrency” name as a buzzword to generate interest, when in the end, it’ll serve to dirty that name.
We asked Ruja Ignatova (the super awesome businesswoman behind Onecoin) some questions:
- So as I understand, Onecoin is mainly centralised cryptocurrency? Centralised mining, centralised blockchain and centralised public exchange? Which components of the Onecoin system are decentralised?
OneCoin will have two phases in development. One is “centralized” while we mine. As we sell the mining rights we have to make sure that everyone who pays let us say 100 EUR also receives the same amount of coins as someone who pays 100 EUR too. So in the beginning we will mine for the network. Once we reach a good development and number of coins, we will open the exchange for other people. The end goal is to make the whole coin public so people can trade on all exchanges, but it has to be fair to the network. We are discussing now with some of the big names if they can audit the blockchain – so that the members and people outside have trust in it
- This is more philosophical question maybe but you are saying that one of the main reason why Bitcoin is bad, is his decentralised form, many exchanges and because of that volatility and lack of liquidity? In my opinion, volatility is very normal in small mass of usage like Bitcoin today is, compared with fiat currencies. But it has already improved as the usage and trading numbers getting bigger. You think, that you solve liquidity and volatility with centralised exchange? So basically you’ll make another central bank which has theoretical possibilities to control or even change the price, limit transaction or other kind of activities? If so, then how are those possibilities avoided?
from europe and usa
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A powerful Opportunity
OneCoin provides a once in a lifetime opportunity, revolutionizing the business world of todays digital economy. The OneCoin concept is born out of the success of the pioneering cryptocurrency, Bitcoin. It all started back in 2009 when a new digital currency was introduced to the internet and financial world. Only in 2013 this currency has seen a 75 times increase in its starting price. It started at a price of only 0.10 USD per coin and has been traded for over 1.100 USD per coin. Through its success Bitcoin popularized cryptocurrency paved the way for more innovative and better concept. The opportunity has now opened for you to be part of the next big winner in digital currency, OneCoin. OneCoin has the ambition to become the next big cryptocurrency as it uses the latest technology, provides long term value to its investors and has a well thought through concept. This opportunity is only available through a strict by invitation basis, providing you the knowledge you need to succeed in the world of crypto-currency.
By joining the One concept, you not only get the best online training on how to profit from crypto-currency, but moreover you position yourself in an unlimited revenue generating program, providing you with all the tools you need to succeed. Our training and marketing tools combined with a solid and strong educational product, enhanced by an outstanding payment plan, is why today’s entrepreneurs are joining the One Concept. We are committed to make you successful – and will provide all the support you need to grow your team and business.
Maximize your OneLife
OneLife, is all about combining business and lifestyle! When you are a member of the OneLife program, you work with a business model that has an unlimited income potential and lots of fun to be a part of. Furthermore OneLife has partnered up with the best lifestyle content, experiences that are so special, not even money can buy.
“Work hard and let the One plan take care of the rest”
OneLife, issues OneLife vouchers to its members, that can be redeemed for luxury holidays, hotels, restaurants and experience days. Want to have an unforgettable week in Bali? Or take your family, friends and loved ones on a true life changing experience? Make sure you get in on the action and fun that OneLife provides.
“The sooner you join the faster you will MAKE
IT HAPPEN.”
OneLife Points start calculating based on your join date as a member, all people who join as members after you in the total company, will earn OneLife Points for you. JOIN today and participate in the ACTION fast!
“Make sure to live the life you always dreamed of and get started today”
OneAwards
One Plan, offers all members, a unique chance for serious earning potential. We value your performance. OneAwards incentivize the success stories. We award such as Black Dimond and Double Dimond. Being part of this exclusive cirlcle comes with awards, luxury items such as Rolex watches, Cash Bonuses, and Luxury cruise holidays. Other members will be inspired by your achievement – and realize what huge opportunities One offers.
this is the best future of all people
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