Swiscoin and Onecoin: Are MLM schemes invading Bitcoin and Blockchain? (Op-Ed)
Recently, I was offered to join an MLM scheme. Larry Pantling, owner of Capstone Digital Mining, offered me an opportunity to buy a beginner package for mining onecoin, swiscoin or ilcoin. He also gave me some information about the so-called “promotion programs” to involve other people into mining. In other words, I was offered to join an MLM business. Frankly speaking, I’m not new at this; I know how MLM works. But in traditional schemes you at least get some goods in exchange for your money. But what about cryptocurrency MLM? I still don’t get all the mechanisms of crypto operations, but....
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The world of Bitcoin and the digital currency has seen its fair share of scams, Ponzi schemes, and MLM pyramids in recent years. Just a few months ago, HYIP’s seemed to be the “next big thing” in terms of dodgy Bitcoin schemes, but it looks like a certain altcoin is trying the old MLM game once again. OneCoin claims to be a bit of everything, while, in fact, they seem to be selling nothing but hot air. For those among us who have been using the internet for quite some time now, the saying “If it sounds too good to be true, it usually is” has been applicable on more than one occasion. In....
The FCA has warned UK citizens to refrain from trading OneCoin as the London police starts investigation. OneCoin, a centralized digital currency operated and managed by the OneCoin Limited is under investigation. The Financial Conduct Authority (FCA) of United Kingdom has warned the general public to refrain from trading OneCoin for fiat or other digital currencies. All digital currencies aren’t made equal. The introduction of Bitcoin led to a debate concerning the legitimacy and trustworthiness of a decentralized digital asset, not governed by a single company or an organization. While....
One of the ringleaders of the largest crypto Ponzi schemes, Onecoin’s Ruja Ignatova, otherwise known as the “Cryptoqueen,” allegedly owns 230,000 bitcoin worth over $11 billion today. Court documents filed by victims of the Onecoin scheme indicate that she received the bitcoins from a member of an Emirati royal family in Dubai. Onecoin’s Cryptoqueen May Have $11 Billion in Bitcoin Onecoin’s Ruja Ignatova is a mysterious woman who has been on the run for over three years now. Ignatova founded Onecoin in concert with Sebastian Greenwood and her brother,....
For now, these claims have not been proven, and should be ignored for the time being. OneCoin is not a cryptocurrency, and anyone claiming otherwise is one of their paid shills. The OneCoin saga seems to be far from over right now. One thing has to be said”: the team behind this project will stoop to new lows to keep up the illusion of credibility. In a recent Youtube video, the team claims Semper Fortis is verifying OneCoin as a cryptocurrency. These claims are false, and OneCoin remains a bag of hot air. For those who are unaware, the OneCoin program is nothing more than a blatant Ponzi....
On October 1, OneCoin, a self-declared cryptocurrency and trading venture based out of Bulgaria, has announced at a conference in Bangkok, Thailand that it switches to the “new Blockchain”, “transferring coins” from the old one to the new one. OneCoin has been in focus of Cointelegraph for some time. Recently the authorities of the UK and Sweden has warned investors that OneCoin is suspected to be a pyramid scheme with no verifiable evidence to back up any of its business claims. According to Tim Tayshun, CEO of Ezcoin, OneCoin is pure fraud and deception. He gave Cointelegraph his version....