Review by Igor Krnic on OneCoin – OneLife
This is incredible company that is trying to make stable cryptocurrency that would be regulated by central entity. Because of this, it has became slander topic from decentralized enthusiasts that are writing for too long now that it is a scam.
Type “is google a scam” on google search bar and you will get few pages where people will explain to you THEIR OPINIONS that google is scam. Since no one shut down google and no one was in jail, seems like google is not a scam after all.
Wikipedia is also open project where anyone can write article you just need to have source links provided. Since Onecoin is slandered by bitcoin community there are many bitcoin news websites stating their OPINIONS and proving ignorance that it is ponzi or pyramid scam. If it was it would collapse long time ago and it is 2 and a half year now.
I dislike this unfair practice by spreading lies so I started to make a forum where I began to explain what is bad in Onelife and debunk all negative media. I follow Onecoin not as seller, I am not seller, but as someone who is sad to see how speculators destroyed cryptocurrency market where small people lose money trying to make fast profit and they have no clue what is going on and who actually controls values of coins. Onecoin is trying to make economy where value can be controlled by them, stable as much as possible without speculations, large dumps and bumps. In current infant stage in needs trust.
So I read all negative BS about Onecoin and am putting a forum with all relevant info:
I explained Is OneCoin a ponzi scheme
I explained Is OneCoin a pyramid scheme
There is topic Is OneCoin a CryptoCurrency
And also Debunk of onecoinscam.info
And many more to come.
Why am I doing this? Aside from being a participant of many ICOs, I am also a holder of Onecoins and I like the idea it is trying to realize.
Onecoin is a Saturn shot project of making stable and centralized cryptocurrency that will be used by masses and especially on unbanked markets like some Asia, Africa, South America. This is its first problem. For now, all we know cryptocurrency can be only decentralized and it needs to be listed on a private website CryptoCurrency Market Capitalizations. So you will find many decentralized cryptocurrencies out there that will yell how Onecoin is not cryptocurrency cause it is centralized. I don’t think they get to decide that. People do. Governments do. Russia is finalizing a law that will only allow centralized cryptocurrencies that can track coin owners inside blockchain. Onecoin has all that already. Problem is that decentralized cryptocurrency open market is subjected to big speculators that have skills and means to inflate coin prices to make big profit thus making coin values volatile. I wrote my findings here How credible BITCOIN’s value is Onecoin does not want to be just one more speculative cryptocurrency. They want to be central entity that will regulate value of its coin by not allowing large dumps and pumps by having their own exchange and impose limits. You can call it economically illogical all you want but they want to make stable coin that people will be able to use to buy services and goods. Onecoin already has more than 35000 merchants and people already can spend coins on DealShaker It started in Feb 2017 and of course haters will say website is bad because they saw bad deals. As if amazon and ebay worked perfectly in their beginnings. Hell, alibaba owner Jack Ma bought all deals from his website for the first 30 days. Onecoin is slandered for not being open, not able to sell and exchange. That is intentional. They want to make critical mass, make user base, merchants and usability, and then go out public 2nd qtr 2018 and it will have its own exchange xcoinx.com. Also the company will go IPO to be the first public cryptocurrency company listed on actual stock exchange. You will find bloggers and anonymous haters that will say they will fail and so on. It is just peoples opinions. Of course if someone presents you all this and you too think it can not succeed, naturally you will pass.
The second problem Onecoin has is at the same time its strongest link. It is distributed via Multi level marketing. MLM is in deed the best crowd sale business model but it carries many faults with it. First of all is antiMLM propaganda. Anonymous blogs that write all sorts of bad propaganda based mostly on opinions against all MLM companies and earning $$ from clicks and visits, cause they know that most people are attracted by negative content. But they don’t write only based on opinions, they also write based on events that are direct result of bad doings from the second problem of Onecoin: Bad distributors that work agains company’s rules. At Onecoin, network is called Onelife, and it has certain compliance guidelines how you should present Onecoin concept to people. Since Onecoin is still in its private infant stage, no one can buy Onecoin or sell it for FIAT currency. You need to provide a gas called One token and submit it to mining pool via onelife back office and you get Onecoins based on difficulty x tokens = 1 OC. Also you can not buy tokens cause it would be illegal. You actually get tokens for free as promotion to a product that Onelife actually sells. And this product is OneAcademy education packages, just see experts below to see who are some of lecturers. You will see haters discard those as a valid product but that is just their opinion. People will decide. Prices vary on education level and bring various number of splits to tokens and at the end number of coins. The more money you out into education, the more coins you get. The same as with open cryptocurrencies, the more money you put into hardware, the more coins you will have. Difference is that decentralized open cryptos are reserved mostly for IT experts who actually know how to setup mining rig and use software. Onecoin manages cloud farm for its mining and closed blockchain, they own all the nodes, all you need to do is pay for education pack, receive account at onelife.eu, wait for your splits (I will not go deep into all those, you can ask that person who introduced you info) and after you submit tokens to mining, you wait for your coins. Since Oct 01. new blockchain mine coins very fast. So anyone can mine Onecoin. That is why they already have almost 3.2 million users with more than 1 OC. Current price of OC is internal and is based on pure demand. The more tokens go in, the more value goes up. This price is demonized by open market enthusiasts, they say Onecoin invents its own price. That is a lie, they know nothing about closed system so that can only be their opinion. In fact, at Jan 2015 OC started from zero users and zero value, it made 0.5 eur in May 2015 with around the same number of users with more than 1 OC as bitcoin had after 7 years. And after that until now, value increased fast, every month with original blockchain, but after Oct 01 2016 when new blockchain launched, value is going up much slower cause way more coins are mined. So 100% money goes in to education, they provide free tokens, that mine onecoins. Haters say it is scam because coins are “sold” behind Education store front. Well it is legal, but the same can be told for Etherium that has a storefront of buying hardware in order to mine ETH. Indeed difference it that ETH can be converted to FIAT since it is public but when Etherum had its ICO (initial coin offering) you needed to buy Bitcoin in order to have Ethers… Those people use double standards. Seems like they argue because Onecoin is still private, they don’t understand it so they have bad opinion about it.