To understand OneCoin and OneCoin vision it is important to read this Article carefully. This article will explain “How true is OneCoin?” and after reading the article carefully it will clear the concept of OneCoin cryptocurrency.
Is OneCoin Scam?
The first question you ask your self whether some business is legit or scam is when it was established. If it was established a few months ago the risk of being a scam is very high. But then you can start educating your self directly with people involved with it.
Get to know them in person, feel the energy, understand the vision. Scams usually collapse in a few months, maximum six months. People often tend to mistake good projects that failed because of bad decisions about the scam.
So since today is two and a half years of Onecoin’s existence, seems like it is not a scam after all. It does bring a risk with it that is sure. But tell me one business that has no risk.
OneCoin is actually an ICO (Initial Coin Offering) that will last for about 4 years, until around end of-2018.
It is a Saturn shot project of making stable and centrally regulated cryptocurrency that will be used by masses and especially on unbanked markets like some Asia, Africa, South America.
You may also Read:OneCoin Latest Updates 2018
Centralized and Decentralized Cryptocurrencies
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. First of all, no ICO coin or token can be publicly traded during ICO and thus can not be listed on the coinmarketcap.com.
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 of that implemented already.
There are also many centralized cryptocurrencies listed on coinmarketcap and the most known is Ripple, in the third place. No one talks about them.
They slander OneCoin cause they want to ruin their ICO that is going extremely well. If OneCoin was the stupid project with no value, no one would care to slander it for more than 2 years.
The main problem with decentralized cryptocurrency open market is that it is subjected to big speculators that have skills and means to inflate coin prices to make the 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 the central entity that will regulate the value of its coin by not allowing large dumps and pumps by having their own exchange and impose limits and trade order expirations.
You can call it economically illogical all you want but they want to make a stable coin that people will be able to use to buy services and goods.
OneCoin already has more than 60000 merchants and people already can spend coins on DealShaker.com.
Also Read: What is OneCoin in 2018? Is OneCoin Scam?
It started in Feb 2017 and of course, haters will say the website is bad because they saw bad deals. As if Amazon and eBay worked perfectly in their beginnings. Alibaba owner Jack Ma bought all deals from his website for the first 30 days.
OneCoin is slandered for not having open blockchain, not able to sell and exchange. That is normal for ICO. Any ICO that is making its own blockchain does not have fully open public blockchain except for those ICOs that run on Ethereum blockchain.
Most of ICOs do not even have a blockchain during ICO and even after ICO is finished (Tezos.com and EOS.io) and of course no ICO is publicly traded.
The same is with OneCoin, they will be open and publicly traded after ICO is finished in 2018.
They want to make a critical mass, make user base, merchants and usability and then go out public 2nd-4rd qtr 2018 and it will have its own exchange xcoinx.com at the first.
Also, the company wants to go IPO (Initial Public Offering) to be the first public cryptocurrency company listed on an actual stock exchange and that takes time so the end of ICO cannot be determined.
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 OneCoin project and you 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 during ICO. MLM is indeed the best crowd sale business model but it carries many faults with it.
First of all is anti-MLM 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 to negative content.
But they don’t write only based on opinions, they also write based on events that are the direct result of bad doings from the second problem of OneCoin: Bad distributors that work against company’s rules.
At Onecoin, direct selling network is called Onelife, and it has certain compliance guidelines how you should present Onecoin concept to people. Since Onecoin is still in its ICO, private infant stage, no one can buy Onecoin or sell it for FIAT currency directly.
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 for cash.
You actually get tokens for free as promotion to a product that Onelife actually sells. And this product is OneAcademy.eu 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 put 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.
Also Read: OneCoin To PKR in 2018 & OneCoin Value
The difference is that decentralized open cryptos are reserved mostly for IT experts who actually know how to set up mining rig and use the software.
How OneCoin Works?
OneCoin manages cloud farm for its mining and currently closed blockchain, they own all the nodes, all you need to do is pay for education pack, receive the account at onelife.eu, wait for your splits. You can ask that person who introduced you info) and after you submit tokens to mining, you wait for your coins.
Since Oct 01 2016, new blockchain mines coins very fast, 50000 per minute. So anyone can “mine” Onecoin simply by buying Education pack from Onelife, get the tokens and exchange tokens for Onecoins.
That is why they already have more than 3.3 million users with more than 1 OC.
The current price of OC is internal and is based on pure demand from exchanging tokens to Onecoins. 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 this 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 euro in May 2015 with around the same number of users with more than 1 OC as bitcoin had after 7 years.
And after that period until now, value increased fast, every month with original blockchain, but after Oct 01 2016 when new blockchain launched, the value is going up much slower cause way more coins are mined.
So 100% money goes into education, they provide free tokens, that can be exchanged for one coin.
Haters say it is a scam because coins are “sold” behind Education storefront. 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 you needed to buy Bitcoins in order to get Ethers… Those people use double standards.
Seems like they do not recognize that OneCoin is ICO, they don’t understand it so they have the bad opinion about it and they compare it to public cryptocurrencies which actually makes them pretty dumb and naive.
So to summarize, all around the google first page you will find the bunch of anonymous peoples opinions that say OneCoin is a scam.
I read most of the comments and most are people that spent a few hours into investigating the company that is MLM and it made over $10 billion in revenue for 2.5 years. Jesus.
I am following One coin for more than 1.5 years and I know all negative propaganda, I am objective, I am not the Onelife distributor but I own many OC cause I believe the world needs stable centralized global cryptocurrency.
The reason is, all those decentralized open cryptos are all about big people earn big money, small people lose their money and merchants will never accept them because of value volatility.
I made a forum where people can find answers to all bad events surrounding Onelife and there are a lot of objective info and explanation there, also Oneco in opposition comes there to put their arguments but at the end whenever they get valid answers they turn to insults how we are brainwashed and it all boils down to their limited view, misunderstanding of Onecoin and personal opinion.
I have shown how ignorant proofs and claims of people who claim that OneCoin has no blockchain are here Debunk of onecoinscam.info.
I have touched if Is OneCoin a Ponzi scheme and Is OneCoin a pyramid scheme. Here is the link to forum where you can get the answer to all the questions: OneCoin Debate
There was even debate Is OneCoin a CryptoCurrency
So to summarize, OneCoin is indeed something new, that’s why it is on deny phase currently by people from opposite side of the industry. There is a risk to it.
OneCoin cryptocurrency company top people are demonized as scammers just because they have failed projects before yet no one was in jail. I am not talking about Onelife independent marketing associates. They are independent sellers of education products. They are the reason that we see all those investigations.
Some of them were making promises and high returns. All that is explained on posts on the forum I mentioned. No investigation concluded that OneCoin or Onelife itself is illegal.
OneCoin is legal until someone from top goes to jail and we see any declaration that its business is illegal. So far, there are investigations that are opened since 2015 and they can not find anything illegal.
The tricky part of OneCoin is whether you are willing to get coins and do you believe in such centralized concept or not. Als the question is if you want long-term possible profit or you are into fast money cause OneCoin is sure not fast money, you are better with open market bubbles to make the fast profit.
Sure there is a possibility to earn big bucks in Onelife compensation plan but I don’t like Onelife so much cause they are Onecoins biggest enemy. But all will be fine in my opinion.
If you have any more questions please ask me directly. I am here to help Onecoin, cause I see injustice all around the web, I am not sell anything.