OneCoin SCAM! A Voice From Inside Hints To Underground Bulgarian Society...

OneCoin, a purported Cryptocurrency and trading venture based out of Bulgaria, is suspected to be a pyramid scheme with no verifiable evidence to back up any of its business claims.cointelegraph received a tip from a source inside the company itself.

As if cryptocurrencies didn’t already have a tall wall to climb in reaching widespread acceptance, other factors enter the scene to delay this technological evolution. The association of Bitcoin withTerrorism and criminality is one, and the odd Ponzi schemes popping up here and there do nothing to enhance the reputation of cryptocurrencies.

CoinTelegraph already covered the OneCoin event in May of this year, with plenty of evidence that should put anyone off of OneCoin, but it seems the company is still alive and running, so it’s worth to keep an eye on the matter. We recently received a tip from the inside of the company.

The source, who worked for some months at OneCoin, prefers to remain anonymous, even though he is no longer employed with them:

“Once I was threatened by them, and I do know Ruja is part of some underground circles in Bulgaria. I'd like to remain anonymous. I really hope to contribute to the truth!”

OneCoin Has No Partners, They Are All OneCoin

One of the practices to make companies appear to be more successful is to show off their partnerships and collaborations with other businesses. When claims are small and the companies are legit, saying some lie about some connection can persist  unsuspected; but when a company’s operations become suspect, these chains of association  unravel quickly.

The solution: create fake companies that partner up with the main one.

This looks the solution OneCoin came up with: our source says that CoinVegas, AurumCoin,Xcoinx are not independent companies or teams, they are all from the same organization, OneCoin.

We couldn’t verify this, but it is easily demonstrated how incredibly weak and inconsistent all three websites are.

Xcoinx exchange

The Xcoinx website is very easy to expose: it’s ridiculously hollow. The news section is completely empty. Link to the “help center” brings one back to the news page.

The FAQ page begins with statements that look copied straight from the BitStamp website, (the BitstampCT r:  326 website was hacked on Jan 4th 2015), in an effort to persuade the reader that the website is not operational due to this attack.

It’s strange that they didn’t post any news related to OneCoin being hacked; but surely if they were hacked, news that they had been forced to stop operations as a result would be a topic of much interest on their news pages.

What remains, is the home page: very simple and clean, maybe too much and with four COMING SOON sections. These are the ‘exchange’ sections, meaning that the website has never exchanged anything.

An examination of their coin statistics reveals that OneCoin’s market cap is 1.951 billions USD, right under BitcoinCT r:  9! If you can find the same information in any other exchange or ranking, please let us know.

Not even the Terms and Conditions at the bottom right of the page works, and just brings the user back to the top of the same page.

The icing on the cake is the fact that nowhere is there any company address or contact information.

Come on, why don’t you put yourself in the hands of an unknown company whose website was hacked and that has still to activate their exchange platform?

Aurumcoin Cryptocurrency

Allegedly an Altcoin directly linked to gold: 1 gram of gold = 1 AurumCoin.

In the webpage, one of the FAQs explains that:

“AurumCoin was created by a veteran team of economists and technology experts with the intention of leading positive global change. We are obligated to operate legally and therefore we cannot reveal ourselves at this point. The operation will be located in a country that allows this project to operate completely legally.”

No further info is given about this phantomatic team, not a single name. It’s impossible to trace it.

In addition, they write as if the coin is already up and running: “AurumCoin was created”. There’s at least one problem, however; there’s no way to buy it, and there’s none in circulation.

The last of the FAQs is: How do I purchase an AurumCoin?

The answer: See our campaign page to get started right away! The provided link takes the user back to the top of the same page; there is no campaign whatsoever.

The introduction video is well made though, and of course, they need it to be, so to convince the viewer this is something legit.

In the video, it is said that AurumCoin is backed by gold, “stored and insured in professional and high security vaults in Zurich, London, New York, Toronto, Singapore, Hong Kong.”

Why do they need to store gold in so many locations?

Why do we need to back up a cryptocurrency with real property? Not even the dollar has been backed by gold for decades.

Last but not least, with this system we should again trust a central authority.

Welcome to AurumCoin: the only centralized cryptocurrency in the world.

CoinVegas casino

This website looks like it’s working, after all, they put themselves in the hands of Gaming Plus Limited, based in Malta, as from the Terms page.

However, the About us page gave us a disappointing (?) “Page not available” output.

The FAQ page states that their casino is registered in the Malta Gaming Authority:

“GAMING PLUS LIMITED – Malta, License № LGA/CL4/599/2009 issued by the Malta Gaming Authority”

But there’s no trace of that code or CoinVegas or Gaming Plus Limited at the Malta Gaming Authority.

You can sometimes win at the casino, but I bet you won’t win much at this one.

Financial Supervision Commission Warning

Finally, we have a warning from the FSC about the OneCoin company:

“FSC inform potential investors and consumers in the Internet that activities related to the acquisition, trading and payment OneCoin are not governed by existing EU and national legislation on capital markets. At present OneCoin or other virtual currencies are not recognized and not treated as a financial instrument within the meaning of FIMA and compared them to the requirements of FIMA.

Potential investors and users should be aware that an investment in such cryptocurrencies already exceed 400 different species poses a high risk. In Bankruptcy the organizer of this kind of activity, persons not subject to compensation from the Compensation Fund to investors.”

What an honor: OneCoin is finally mentioned by an important institution!

No, I mean, this time it’s for real!

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Adrian Hibbert - Internet Marketing Mentor

Bitcoin Could Hit $1,000,000 in the Long Run?

One bitcoin is worth nearly $400 today. Think that sounds like a lot for a currency you can't physically touch and that has been around for only a few years? Well, it could go much, much higher, according to one observer.

To be able to make an assessment whether to invest in bitcoin or not, you need to understand where it comes from and what might make it valuable. This, however, is not an easy task for someone who is not well versed in cryptography and monetary policy. To get a better understanding, we sat down with a prolific writer within the bitcoin space, Datavetaren, to learn more about his viewpoints on bitcoin, blockchain and what the future might hold.

Datavetaren, as he is best known as through his blog and active twitter account is probably best described by some of his own tweets.

TheStreet: Why are you interested in bitcoin and blockchain technology?

Datavetaren: When I first heard about bitcoin in 2011, I thought that this cannot possibly work. It should not be possible to get it secure enough and make it "unhackable." Then I heard about it again in early 2012 and thought "Why is it still here?" At this point I got curious and actually read the technical white paper written by Satoshi and looked at the bitcoin core source code. Now I was completely knocked to the ground; this was an invention comparable to the Internet, electricity or the steam engine of its time. I started asking myself questions such as "Where does money comes from?" and "Why is bitcoin different?" To reuse Steve Jobs' expression: Bitcoin is reinventing money.

TheStreet: What is your view on the regulatory landscape of these technologies?

Datavetaren: Bitcoin as technology cannot be regulated (it is designed that way.) What remains is the interaction between bitcoin and the current economy. That can be regulated and already is when it comes to bitcoin exchanges. My opinion is that that bitcoin should be treated as a foreign currency like ECJ [European Court of Justice] recently declared. Merchants, in a free market economy, should be allowed to accept the currency, like any other foreign currency. It is wrong to try to regulate bitcoin as something special. The standard rules we have for foreign currencies should apply to bitcoin as well. Nothing less, nothing more.

TheStreet: What are your thoughts on bitcoin as an investment for private investors?

Datavetaren: If you are patient enough, the leverage of bitcoin is huge. We are talking about $1,000,000 (possibly more) per coin in the long run (current price is around $400 at the time of writing.) It will replace gold (which is a trillion dollar market) as a safe haven. Gold gained this status because it cannot be forged and it is scarce, durable, and fungible. Bitcoin has all those properties as well, and, in addition, it comes with an international payment/settlement network. There's no need for "bitcoin certificates" as you can directly verify your ownership by checking the bitcoin blockchain. It is extremely important though that purchased coins on an exchange are cashed out. If you do not have special equipment for this, then, at least, use bitaddress.org to create your own paper notes.

TheStreet: What are your thoughts on bitcoin as an investment for institutional investors?

Datavetaren: Institutional investors are heavily regulated on what kind of assets they are allowed to invest in. Bitcoin is currently too mysterious for institutional investors to pay attention to. Currently, some institutions are investing in bitcoin derivatives such as ETNs (exchange traded notes) but it is somewhat odd that it is based on trusting a third-party which goes against the bitcoin spirit. However, as more central banks are applying negative interest rates on the private banks' deposit accounts, it may become an escape route. Recently, a Swiss pension fund manager tried to withdraw the fund in cash to avoid the negative interest rate. Although denied, and possibly illegally so, it would be much easier in future to store the wealth electronically in the bitcoin blockchain ledger instead of piling up a stash of paper notes in a vault.

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Bitcoin - The one big speculative story of the last few years...

Forget prime central London property or the US stock market. Forget the prospector who struck gold or oil. Forget the entrepreneur who brought you this widget or that website. The game to have been playing these last few years is bitcoin.

Back in 2009 I was approached by a number of people about it. From presenting a legitimate challenge to existing monetary models, to freeing up trade and exchange, it did everything a form of money should and more. 

"Yeah," I said. "It's a crypto... what? Digital... right, ok." The sales pitch wasn't hooking me. As soon as I heard it had doubled and more, I lost interest. I don't like chasing things that have doubled, particularly if I am not sure I understand them.

I switched my focus back to gold. I'm a bloke. I can only concentrate on one thing at a time. 

More fool me. What I was shunning at a dollar because it had doubled, is now trading at $390! Me, Mr Monetary Reform, missed the wretched bitcoin boat. 

There's the story of Kristopher Koch, the Norwegian student who bought 5,000 bitcoins for $27 in 2009 as part of his thesis. He forgot all about them, and only found them last month. Now he's rich: 5,000 times $390 is $1,950,000!

I could have invested five hundred quid and ended up with enough to buy a house in Chelsea, a holiday home in Cornwall, funded my dad's West End musical, my own zombie film, and had enough left over to start a foundation to rehabilitate bankrupt junior mining companies.

Oh, well. Time to get over what might have been and look forward. Should we be buyingbitcoin now?

In spite of everything, I'm still not a big buyer of bitcoin

Barely a month ago I wrote about bitcoin. I admired its brilliance, but I also recommended caution. It was $130 or $140 then, or just above. It's pretty much tripled since. Wrong again.

But I'm not changing my mind now. 

People get very passionate about their investments. And when the investment has a political overtone to it – which alternative forms of money such as gold and bitcoincertainly do - that passion goes into overdrive. Pass a negative opinion about gold orbitcoin and you risk the wrath of their owners. 

Still, I have to say, for all its qualities, I think there is too much speculative excess inbitcoin at the moment. People find it hard enough to value gold – but how do you valuebitcoin? It's got a limited supply in its favour (there are about 12 million so far, and an upper limit of 21 million). But could someone find a way of replicating them? I'm told not, but who knows? 

And there are plenty of other risks. Quite apart from the recent closure of online black market Silk Road, bitcoin heists are a fairly regular occurrence. Tech website Pando Daily notes that a bitcoin exchange in China shut down last month, taking about $4.1m in users' money with it. 

I'm not saying it is, but it could turn out to be a huge bubble, a Ponzi scheme even. If it does all unravel, it will look obvious after the event.

The bigger problems facing bitcoin

But assuming bitcoin is here to stay, there are two bigger issues. The first is that bitcoin is meant to be a medium of exchange. That's what it's so useful for. 

Trouble is, I hang on to the few bitcoins I have. They're rising in value so fast, I'd rather spend my pounds or dollars. I've also made it possible to buy my book with bitcoins – in fact, I'd rather receive bitcoins than pounds. 

This is a form of Gresham's Law at work: bad money driving out the good. In Sir Thomas Gresham's time (the 16th century), this referred to people's tendency to hoard currency with a higher precious metal content, and spend 'bad' money instead. 

Clearly, this is one of the issues with being an independent currency in a world where central banks are hell-bent on devaluing their own paper. I don't think it's entirely coincidence that bitcoin's recent surge in value coincides with the European Central Bank cutting a key interest rate from 0.5% to 0.25%. There's also the recent International Monetary Fund report which suggested it would be a good idea to impose a one-off wealth tax to recapitalise debt-ridden nations. Perhaps that has driven some bitcoin buying too, as Europeans seek to hide wealth.

But if bitcoin is to become useful as a more mainstream medium of exchange – rather than one that is preserved for transactions of a shifty nature – its value has to at least stabilise, if not fall. So that argues against its stellar rise continuing forever.

The second concern is that people are starting to take bitcoin seriously. One of the senior economists at the Chicago branch of the US Federal Reserve Bank has even written a research report on them. And it's not dismissive either – in fact, it shows a very good understanding of the currency and its potential.

This is all very good. But as I mentioned before, the more seriously bitcoin gets taken, the more that governments will come after it. They may not be able to crush the crypto-currency concept now that it's out there. But they may well be able to tame it with regulation. When push comes to shove, there's no way that governments are going to cede control over one of the key things that gives them their legitimacy and power – the monopoly over currency issuance. 

All in all, I'm sticking with my call of last month. Own some bitcoins. Accumulate more if you can, but only with speculative funds you can afford to lose. I suspect a rollercoaster ride lies ahead. 

It's actually quite easy to buy bitcoins, though it looks quite daunting at first. In most cases you open an account, deposit some money and you're off. The world's largest exchange is Mt Gox. Blockchain lays it out conveniently for UK users. 

Bitbargain also has an online tutorial. It takes a bit of getting used to – start with very small amounts while you get to grips with the process – but it's actually wonderfully simple.

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Call me Adrian Hibbert on +44 7966 871854

Bitcoin – Acquire as Much as you can?

With more and more of the world’s leading retailers and banks already using
Bitcoin, now is the time to invest.

When it comes to future profits, the sky really is the limit!

Investor profits to date:

If you had purchased $500 worth of Bitcoins at the end of 2011, you would
have made a profit of $23,500 by the end of 2015. That’s a 1,175% return
per annum.

However, if you had sold your Bitcoins during the highly volatile period of
2013/14 you would have made over $120,000 from your $500 investment!
A return of 8,000% a year.

Not bad for 5 minutes' work.

Bitcoin is the world’s most popular cryptocurrencyBitcoin transactions have gone up by 400% in the last 12 months aloneBitcoin is accepted by leading global retailers such as Ebay, Dell, Microsoft and PayPal

Tens of thousands of merchants are now accepting Bitcoin

Bitcoin is increasingly being used for foreign remittances (an industry worth $580bn in 2014) owing to its low cost and high security

Goldman Sachs, AXA and BBVA are investing heavily inBitcoin startupsTwo percent of the Chinese public (27m people) already useBitcoin

New non-technical, hacker safe ways to invest in Bitcoin are now available to the public

Now is the ideal time to invest in Bitcoins, before its value increases once again.

I now personally own around $20,000 in BitCoin at the price of $300/1BTC

I am looking to take this figure up to at least $100,000 in the next 12 months...

SO...here's my PITCH...!!!!

Are you interested in buying a machine that you plug into the wall and literally print money? 

If this sounds too good to be true, I don't blame you for thinking that way because I was
very skeptical when I first heard about this. 

But once you begin to understand what Bitcoin Mining is and you see how it works, then you
will want a lot of these "money printing machines"

You truly have to see it to believe it and right now you can sign up for a free account to check
this out then give me a call asap on 07966 871854.

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Hope you can work with me on this.. I'm here to Help, Support and Mentor
you until you are making at least $4000+ a month within the BitCoin Market.

If you looking for an exciting new venture and you are serious about making 2016 your best 
year ever then please get back to me asap so we can plan our way forward in working togetheron this...

Text/Call me on +44 7966 871854 if you want to talk about this prior to the Hangout/Webinar

Work Smart and Not Hard !!!

Always be Awesome !!!

ADRIAN HIBBERT  【ツ】
Property Professional & Internet Marketer

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