Over the last couple of years, the term cryptocurrency has been rapidly gaining ground and understanding of its use and value in the public eye. At first it seemed unfamiliar and somewhat scary like the credit card looked to users in its early days.
You might be more familiar with terms like Bitcoin, and Ether. These are all cryptocurrencies using the Blockchain Technology to keep this currency and technology safe.
Currently, there are many types of cryptocurrency. A simple google search of the popular trend shows you the start of the growth and where it is taking us.
Fraud: Individuals cryptocurrencies are digital and cannot be counterfeited or reversed arbitrarily by the sender, as with credit card charge-backs.
Immediate Settlement:Purchasing real property typically involves some third parties (Lawyers, Notary), delays, and payment of fees. In many ways, the bitcoin/cryptocurrency blockchain is like a “large property rights database,” says Gallippi. Bitcoin contracts can be designed and enforced to eliminate or add third party approvals, reference external facts, or be completed at a future date or time for a fraction of the expense and time required to complete traditional asset transfers.
Lower Fees: There aren’t usually transaction fees for cryptocurrency exchanges because the miners are compensated by the network (Side note: This is the case for now). Even though there’s no bitcoin/cryptocurrency transaction fee, many expect that most users will engage a third-party service, such as Coinbase, creating and maintaining their bitcoin wallets. These services act like Paypal does for cash or credit card users, providing the online exchange system for bitcoin, and as such, they’re likely to charge fees. It’s interesting to note that Paypal does not accept or transfer bitcoins.
Identity Theft: When you give your credit card to a merchant, you give him or her access to your full credit line, even if the transaction is for a small amount. Credit cards operate on a “pull” basis, where the store initiates the payment and pulls the designated amount from your account. Cryptocurrency uses a “push” mechanism that allows the cryptocurrency holder to send exactly what he or she wants to the merchant or recipient with no further information.
Access to Everyone: There are approximately 2.2 billion individuals with access to the Internet or mobile phones who don’t currently have access to traditional exchange, these people are primed for the Cryptocurrency market. Kenya’s M-PESA system, a mobile phone-based money transfer, and microfinancing service recently announced a bitcoin device, with one in three Kenyans now owning a bitcoin wallet. (Let me repeat that again. 1/3)
Decentralization: A global network of computers use blockchain technology to jointly manage the database that records Bitcoin transactions. That is, Bitcoin is managed by its network, and not any one central authority. Decentralization means the network operates on a user-to-user (or peer-to-peer) basis. The forms of mass collaboration this makes possible are just beginning to be investigated.
Recognition at universal level: Since cryptocurrency is not bound by the exchange rates, interest rates, transactions charges or other charges of any country; therefore it can be used at an international level without experiencing any problems. This, in turn, saves lots of time as well as money on the part of any business which is otherwise spent in transferring money from one country to the other. Cryptocurrency operates at the universal level and hence makes transactions quite easy.
There is no other electronic cash system in which your account isn’t owned by someone else.
Take PayPal, for example: if the company decides for some reason that your account has been misused, it has the power to freeze all of the assets held in the account, without consulting you.
It is then up to you to jump through whatever hoops are necessary to get it cleared, so that you can access your funds. With cryptocurrency, you own the private key and the corresponding public key that makes up your cryptocurrency address. No one can take that away from you (unless you lose it yourself, or host it with a web-based wallet service that loses it for you).
Overall, cryptocurrencies have a long way to go before they can replace credit cards and traditional currencies as a tool for global commerce.
Fact is, many people are still unaware of cryptocurrency aka Digital Currency. People need to be educated about it to be able to apply it to their lives. Businesses need to start accepting it They need to make it easier to sign up and get started.
The future appeal of cryptocurrencies lies in allowing you ultimate control over your money, with fast secure global transactions, and lower transaction fees when compared to all existing currencies.
When used properly and fully understood it would be the initiator of many emerging systems that will fundamentally change our global economic system.
Swiss Gold Global are a Precious Metals Wholesaler who have been supplying top grade Gold and Silver to the general public for 8 years
They have a legal and compliant MLM program for a $199 one off payment and thereafter $50.00 per month
Savers plans start @ $25.00 and savers are their core business
Its been designed to be affordable for everyone
So Swiss Gold Global already have highly competitive prices for Gold and Silver
In #1 Refiner Argor Heraeus the metal supplier, they have a very strong brand so accepted across the globe
Its Simple to liquidate your Gold and Silver (free storage and 0% spread on sell back to company mean its very cost effective)
Gold and Silver are essential assets to own in an uncertain world where paper currencies are failing across the Globe
They are an insurance against inflation
The IMF have plans to replace the US Reserve Currency with a new Digital Based Currency of their to replace paper money
Central Banks have said they expect to have their own Digital Coin within 2 years
They are hoping to have this in place before the next Financial Crash
Many analysts are predicting Gold and Silver will surge in price when this happens
Gold jumped 5% on Brexitt for example and has been up 30% this year
Basically there is a lot of change coming and its a good idea to prepare for that
And this is where Swiss Gold Global Come in
They provide Wealth Education through Gold/Silver (since 2008)
This is what the Wealthy and Successful do
Swiss Gold Global are bringing this to the masses
but now we have next generation currency - Digital or Crypto currency
Swiss Gold Global V2.0 Pre - Launch
Over the last 12 months they have been getting ready for V2.0 Launch which is taking place on 29/10/16.
Welcome to the Worlds First Precious Metals - Crypto Currency Platform
The Go To Place for all your Precious Metals and Crypto Currency Needs
Swiss Gold Global had Gold and Silver from #1 Refiner argor heraeus
but they also realised that people were time poor and wanted passive income
so they are adding Bitcoin Mining which creates "passive income"
Remember Swiss Gold operate in the wholesale markets
They make their money on the volume of Gold and Silver they turnover
They have partnered with the largest and best known Bitcoin Mining Operation in the World
SGG have decided to pass on the Bitcoin Mining @ cost price to you and me
We will get more details on that soon
But the yield should mean we will have top performing Crypto Currency Mining out there
With our Banks offering record low interest rates this is a good alternative
We will get the facts on webinars leading up to launch (see below)
There is no need for hype
To put you at ease massive corporations/celebrities like Bill Gates/Richard Branson are investing heavily in this market so its legitimate.
These are the benefits as i see them
1. Swap your paper currency into Gold, Silver, Bitcoin Mining .. 2. Swap your Gold/Silver/Bitcoin Mining into Bitcoin .. 3. Swap your Gold/Silver/Bitcoin Mining into paper currency 4.Use your affiliate earnings to own more Gold/Silver/Bitcoin Mining.. 5.Cash out your affiliate earnings into your Bank, Paypal or Bitcoin.. 6.Bitcoin Mining working for you 24/7 (cashout to bank/paypal/bitcoin 7. Own your own Gold/Silver just like Central Banks are doing 8. Protect your Wealth against inflation accumulating Gold/Silver/Bitcoin
9. Additional Crypto Currencies will be added over time provided they are legit and publicly traded
I hope you all had a nice summer break. As you might have heard from new, unfortunately Turkey & Turkish legal system, as a consequence we , did not have a very nice juridical recession or a summer break.
Let me try to summarise you the overall picture.
So far over 3000 judges are dismissed which of over 1000 has been arrested. Over 2500 clerks and court officers have also been either dismissed or arrested. The operations are still going on and ever week new judges&clerks are being dismissed. Both in Anatolian and European courts, where our files are with, each judge is in charge for approx. 6 courts. New judges who have just finished law school and have no any experience are being assigned for the the courts.
The municipality of Tasdelen had annauled the “storey easement titles” of all Tasdelen units, due the fact that the total sqm of construction is nearly twice of what it was officially allowed. The intention was at 1st to find a solution so that the whole site becomes officially built. Legal paperwork demanded by the municipality was being taken care by the managements lawyer who was reporting me regulary. The penalty, to be paid equally by the unit ownersi demanded by the municipality was being negotiated by the management. Howver after the coup attemp muncipality officers and even mayors were alos dissmissed&arrsted. Moreover, many powers of the distrcit municipalities has been taken and given to main city Istanbul Municipality. This includes the reissuance os tasdelen Storey Easement Titles as well. Given the cirsumtances, it is most likely thatTasdelen titles will not be able to be reissued for an uncertain period of time.
Although it is not whats being said news in Turkey, as I am following BBC and CNN at the same time, I am sure you are also aware of the economical problems in Turkey. All the investments are stalled and foreign investos are trying to get out.
HOW WILL THIS AFFECT
Group A& B :
I have been having meetings and negotiations with a potential buyer for around a year. As you can understand thye have installed the idea of buying Tasdelen units. Another broker has contacted me and I have given the info about Tasdelen. So we might have another potentail buyer but yet any feedback is not given by the broker.
Meanwhile, as indicated previouslt there are charges on the units placed by the management. The managements lawyer was also aware of the potentail buyer so we were having meetings to decide how overdue managments fees will be paid so that the charges are lifted and the titles are abel to be tranferred to the new buyer. However as the purchase has been stalled, the managements lawyer has commenced execution proceedings which will lead him to go for the forcesale of the untis in order to cover the overdue management fees. While we are taking care of existinf files, now there are further execution files in front of me, that I do have to take care so that the units are not subject to a force sale.
On the other hand as the storey easement titles were annuled, there are no any seperate titles for units, but there is only one title for the whole land which is shared by the currents title holders. This does not have a negative affect on the court files, as you wil lread fromt he report the courts have commenced making decisions in our favor meaning they do decide for the titles to be trasnferred to UK clients. But it affects the possible sales and refund issue. Because in order to go for the sales of the units, all charges has to be paid and released so the refund amount will be affected accordingly. Yet we are not there so fina lnegotiations have not been made with the currenct creditor/charge holders. I will inform you once the overall figure is determined.
Group C&D :
As you will read from the report, so far most of the court have decided for the refund of the monies plus inerest to be paid to UK clients by the developer. Though this is quite a good decision, the problem we will experince will be executing the decisison as the developer does not have any money to pay.This is why those decisions are appealed and we have demanded the titles to be transferred.
As indicated on the previous report, we can claim the money from the Ministry of Treasure but to take this route al lthe steps in the 1st instance and Supreme Courts have to be completed. We also have the optipn to take the dispute to European Court Of Human Rights but again before going there all the legal steps in Turkey has to be finalised. Both the legal claim againts Ministry of Treasure and possible case at ECHR, are new and seperate legal works to be carried out
I am so sorry for not being able to give better news dueto the facts that are not under my control. I do for sure keep working hard and do the utmost for the best benefit of my clients and your supports during this period will be higly appreciated.
I will inform should there is a progress either on the courts or the potential sales. Other than that the next report is scheduled to January 2017. If you have any further questions please email me and please bear with me if I cant reply immediately as I do have to spend most of time in the courts.
Paradise Golf and Beach Resort - URGENT - Please call me.. my name is Adrian Hibbert and I am an Investor at the Paradise Golf and Beach Resort.... I am looking to gather as many investors together as possible that are NOT happy with the way things are going and that want a FULL REFUND on their investment money...
My number is +44 7966 871854 (UK)
Some clients are asking about the appointment of our new Director, Mr.Gang Huang, following an alarming Email, again including false information and not backed by any written documentation. To dissipate this non-founded allegation, please find attached herewith a Moroccan Company House official written document confirming the details of the new Director of Atlantic Beach Paradise Resort S.A.R.L. A translation of this document will be forwarded as soon as it is available.
We are also attaching a letter to Banque Populaire confirming the appointment of Mr. Gang Huang. Again a translation will be forwarded as soon as this is available.
May we kindly remind you that the last advice given by the group referred to above was to suggest that clients contact Banque Populaire directly which, as you are aware, resulted in the Banque requesting that clients contact ourselves, the Developing Company, and not them.
We inform you again that a meeting will take place in Morocco with Banque Populaire, Government and our Project Management Company, Diagonale, representatives to confirm in total transparency and to eliminate all doubts to clients the future of the Paradise Golf and Beach Resort, availability of funds and completion of properties. Any clients who wish to be involved in this positive approach should contact us as soon as possible.
Those of you who have already returned your Participation Letters but would feel more comfortable with the inclusion of the compensation solution/scheme, an additional Participation Letter can be issued.
We have one goal and that it is to complete the Paradise Golf and Beach Resort with the available funds
Further to our last update, we write to inform you of the following:
1.You will shortly receive a written contractual confirmation, signed by our new Director Mr. Gang Huang, in respect of compensation for the delay in building.
2.We have received complaints from clients who have contacted Banque Populaire directly, having been advised to do so by a third party, but the Banque have refused to acknowledge this contact stating that they do not have any contractual relationship. The Banque have requested that clients contact Atlantic Beach Paradise Resort S.A.R.L. and not themselves. As you will recall, you have been advised of this in the past. However, we would like to apologise for this response from our financial partner as we do consider that you are future clients of the Banque and should be treated as such.
Therefore, in order to avoid that all parties concerned - Government, Banque Populaire, Atlantic Beach Paradise Resort S.A.R.L. under new directorship - do not run away from their responsibilities, and as stated in our previous update, we will request that a face to face meeting takes place with Banque Populaire and Government representatives to confirm in total transparency and to eliminate all doubts to clients the future of the Paradise Golf and Beach Resort, availability of funds, Project Management Company and completion of properties.
This meeting will take place in Morocco with client representation. Travel expenses will be at our cost.
We thank you, our hundreds of clients, for your prompt responses in respect of your acceptance of the compensation solution/scheme.
Once again we do apologise for the delay in the completion of properties which has been caused by third parties and out of our control.
It is now seven months since the appointment of the new Project Management Company, Diagonale, by Banque Populaire and ourselves, Atlantic Beach Paradise Resort S.A.R.L., and also the availability of funds in order to complete the Paradise Golf and Beach Resort. It is vitally important for us to use these funds and complete the Resort as soon as possible. This is the objective for us all.
Unfortunately, the pace of work on site is limited due to the fact that the Developer, main-shareholder and Director, Mr. Larbi Tadlaoui, is not free to take decisions and make payments as is required. Banque Populaire is unable to make any payments without Mr. Tadlaoui’s signature. Payments are being delayed due to the lengthy Court processes. As you are aware, the architect, Diagonale and Steve Ritson, the golf course architect, have all requested and stressed the importance of Mr. Tadlaoui’s presence in order to be able to move forward.
Crucial time has been lost during these past seven months.
Current situation:
Legal: Two surveys have been ordered by the judge (not by ourselves). The first one is regarding the legal/financial situation. The second one is regarding the technical aspect of construction.
The following conclusions have been reached:
a) Legal/financial - there is no legal/financial wrong doing and the availability of funds to complete the Resort has been confirmed.
b) Technical/construction – crucial damage on the golf course due to the lack of irrigation water. Minor cosmetic work is required to restore buildings in construction. Most importantly, there is no structural damage to buildings.
The estimated time for the completion of properties provided by an expert surveyor appointed by the Court is six months for the first half of the Resort and twelve months for the remainder of properties and finalisation of the Paradise Golf and Beach Resort.
This survey highlights the lack of basic infrastructure as being the main obstacle in the realisation of the Resort.
The conclusions reached by independent surveyors, appointed by the Court, confirms what we always have always stated regarding our position. This is in addition to the confirmation included in the Norton Rose Fulbright report which was recently circulated.
Unfortunately, and despite the points outlined above, legal proceedings in Morocco are extremely lengthy especially in such a complex case where a technical report of five hundred pages can take as long as two months to obtain a sworn Arabic translation. Plus the fact that the Court of First Instance Hearing has not yet been completed, then there is the Court of Appeal and finally the Supreme Court before a final executory judgement.
We are prepared to use all our rights and the procedures available in the Kingdom of Morocco and abroad.
Moving forward:
Therefore, as it is a private individual who is being investigated not the company, Atlantic Beach Paradise Resort S.A.R.L., who owns the land and the Paradise Golf and Beach Resort, and in order not to penalise clients any more than they have been already and additionally to speed up work on site, we have decided to appoint a new Director to ensure completion of the Resort.
As detailed above, the estimated time for the completion of properties is six months for the first half of the Resort and twelve months for the remainder of properties and finalisation of the Paradise Golf and Beach Resort.
There are however two conditions as a result of a statement made by Diagonale, which is attached herewith.
1st condition - prompt payment of invoices following validation by Diagonale. 2nd condition – to have a Company Representative present to be able to take decisions and to sign necessary documentation.
The second condition is solved by the nomination of a new Director; but for the first condition, a meeting will be arranged in the U.K. or in Morocco shortly to allow all parties involved (Banque Populaire, Government Representative and the Project Management Company) to confirm their engagement and allow Atlantic Beach Paradise Resort S.A.R.L. to respect the completion time for the Paradise Golf and Beach Resort which has been established by experts.
Facebook Live is hot right now especially for and if you are wanting to increase your brand awareness, gain more customers then you should be implementing Facebook Live videos in your marketing.
Not to mention Facebook loves when you do Facebook Live because right now they are giving those videos preference in the news feed over any other kind of content posted on Facebook.
16 Facebook Live Tips:
Tip #1 – Notify Your List
If you have a list of subscribers make sure you email them an hour or so ahead of time to let them know you are going live over on your page. Don’t forget to give them the link to your page, btw….
Tip #2 – Announce In Facebook Groups
Announce in all of the Facebook groups that you’re an admin of. Also, announce on your personal profile that you will be going live on your page. Again…..give the link to the page from which you’ll be doing your Facebook Live.
Tip #3 – Utilize Other Social Media Platforms
Use other Social Media platforms, such as Twitter & Instagram. Let your followers on the other platforms know you’ll be going live over on your Facebook page.
Tip #4 – Schedule Your Facebook Live Broadcasts
Create a consistent schedule of Facebook Lives and stick to it. If your audience knows you’re always doing a Facebook Live broadcast on a specific day and time they can plan around it.
This will increase the their ability to show up for your Live and therefore assist you in growing your viewing audience.
For example; on Monday, Wednesday and Fridays at 9am you will always be on Facebook doing a Facebook Live.
Tip #5 – Create An Irresistible Title
Use an irresistible title before you hit the “go live” button.
This will allow your audience to know exactly what you’ll be talking about.
Also, don’t say things like, “Going live on Facebook” or “Join us for some business tips”…
Instead, title your video with specifics such as… “3 Tips To Create A Successful Facebook Ad Campaign”
Tip #6 – Stay On Topic
It’s important for you to stay on topic because most people have short attention spans.
Save all those other ideas running through your head while you are doing a Facebook Live. Write them down and use them for content ideas for subsequent Facebook Live sessions.
Tip #7 – Introduce Yourself
At the beginning of your Facebook Live session, introduce yourself.
Also, let your audience know in a sentence or two what you do as a business owner.
Basically, deliver your elevator pitch and how you serve people.
Tip #8 – Welcome And Engage Your Viewers
At the beginning of your Facebook Live session ask people to comment where they are watching from. Ask questions to your audience to engage them throughout the Live and encourage them to comment with their answer.
Tip #9 – Ask For The “Like”
Ask for love, likes and shares if your audience got value by telling them to hit the reaction button or share button.
Tip #10 – Make Eye Contact With Your Audience
I made this mistake by looking at the wrong place in my iPhone camera when I first started doing Facebook Lives and you can bet the audience told me.
So know where to look as it will help your audience feel as if you are sitting next to them having an actual conversation.
Tip #11 – Be Yourself And Be Relaxed
No one wants to cringe and watch someone struggle with being comfortable in front of the camera. or someone trying to be someone they are not. It’s not relatable. You want to be real and relatable so people will feel drawn to you.
Don’t worry if the doorbell rings or the dog barks.
It’s real and it’s life and it will add to the authenticity of your presentation.
So if it happens it happens… don’t sweat the small stuff.
Tip #12 – It’s Not About You
Your Facebook Live isn’t about you but about your audience and how you can serve them. Therefore you will want to deliver valuable information to your audience. By sharing your expertise with your audience your credibility will rise in the eyes of your audience.
Tip #13 – Be positive, Energetic, and Smile
We have enough negativity in this world no need for us to add more.
Tip #14 – Ask For Engagement
Remember that your Facebook Live will remain on your newsfeed long after you end the Facebook Live session. So encourage those at the end whether watching live or the playback to ask questions or comment and you will happily get back to them.
Tip #15 – Have A Call To Action
Some suggestions at the end would be to like your fan page, turn on notifications on your fan page, visit your blog for more tips or trainings, opt in to your upcoming webinar, visit your website to get a special gift or a limited time discount on a product or service, or join a special Facebook group you have set up for more trainings.
Tip #16 – Promote Your Facebook Live
Finally if you really want to get more viewers consider running an ad promoting your Facebook Live video targeting a specific audience.
If you are doing Facebook Live regularly or for the first time, I hope you found these Facebook Live tips helpful. Feel free to share if you got value.
The Securities and Exchange Commission have frozen the assets of Traffic Monsoon!
'Federal regulators are trying to halt the operation of a Utah company that purports to share profits from online advertising services, but that regulators claim is a Ponzi scheme that took in $207 million from more than 160,000 investors around the world. The Securities and Exchange Commission filed a lawsuit Tuesday (26th July 2016) in federal court in Salt Lake City and asked for a temporary restraining order against a company called Traffic Monsoon and owner Charles David Scoville, 36, of Murray. U.S. District Judge Jill Parrish granted the restraining order Tuesday evening, freezing the assets of Scoville and Traffic Monsoon, which is sitting on about $60 million in cash in the United States, Canada and the United Kingdom. Regulators seek appointment of a receiver to find and protect the assets of Scoville and the company.'
And look at this: 'After PayPal lifted a freeze on the accounts, Scoville transferred large amounts into bank accounts, including $21 million into his own account at JPMorgan Chase, the lawsuit says.'
PayPal started to release funds. I needed to get to the USA to make the transfer from my bank to Payza. I wanted to surprise everyone with an early release after the money was inside of Payza.
Fake checks were circulating around using the bank account and routing numbers made available online for customers purchasing services, so I moved the funds out of the business account until I could get to the USA, go into a chase branch, and send those funds to payza. Then, surprise members with an early release.
The SEC filed a lawsuit. We'll stand up against their claims in a court of law. Whatever is going on we'll get to the bottom of it. There's more money in existence to pay people than what people have earned.
There's no promised "returns" as I have always said, and the website and my videos doesn't say anything of the sort.. I've never guaranteed 10% returns.. only that as we sell ad service people who click ads in the traffic exchange can qualify to share in revenues up to a maximum of $55 .. without any time frame affixed whatsoever.
People had been circulating fake checks using bank account and routing number info provided online.. I moved the funds out from the business account into my personal account to avoid those from clearing, also-- I intended to send those funds to payza as the note on that transfer indicates. I just couldn't make that large of a transfer to pay people what they had earned until I was able to go into a chase branch. I didn't pay myself that money. I was positioning that money to be sent to payza, but I wasn't given a chance to do that because I hadn't been able to go into a chase branch since I was out of the country.
I was definitely sharing profit margins with people as I have outlined. No investment is offered on Traffic Monsoon as it clearly states. No promise of returns -- only promise of ad service, with an explanation that people can click through ads and qualify to share in the revenues, which couldn't possibly be guaranteed.
I was just about to fly to Utah to make that transfer and surprise everyone with an early release to some of the positions and balances...
Bitcoin.com (BC): Can you briefly tell our readers a little about yourself and how you discovered Bitcoin?
Tim Tayshun
Tim Tayshun (TT): I remember very vividly, the exact day, in fact! On Feb. 28th, 2013 (BTC price $27) a friend excitedly described to me what Bitcoin is to him. On March 15th (price $37) I typed “what is bitcoin” into Google Search and thus began my first of two “journeys down the rabbit hole.” Watching the Cyprus drama and Bank runs unfold I bought some BTC on April 1st (BTC price $100). I followed it very closely for the next year and in March 2014 I sold some BTC and started ezCoinAccess, LLC. , with the goal of owning and placing a Bitcoin ATM locally. As the name implies, our focus was on making Bitcoin easier and more widespread, and we figured a (2-way) BTM would help accomplish this. My partner and I jokingly referred to the idea as the honey badger’s approach to increasing mining difficulty,” as anytime a transaction was made, we’d earn a few satoshi. On December 13, 2014, nine months later, we unveiled Orange County, CA’s first bitcoin ATM at Mission Market Express (inside OC’s busiest Train Station). It was the 117th 2-way machine, globally. (BTC price $350) The philosophy of ezCoinAccess lead to simultaneously developing relationships with Bitcoiner friends here and across several African countries, forming an informal collective of “trusted participants,” which we called AUTONet (African Umbrella Trust Organization & Network). This grew our network and connections and led to fun opportunities, including being invited on an almost monthly basis to give presentations at Bitcoin Meetups across Africa (which I do over Skype or HangOuts). This development inspired the creation of the “Wheel of Bitcoin” in order to do LIVE giveaways of FREE BTC after every presentation for newbs who set up new wallets (and anyone else, really). It has since been spun in Accra, Kumasiand Tamale (Ghana), Gaborone (Botswana), Freetown (Sierra Leone), Dar es Salaam (Tanzania), and Nairobi (Kenya). And more recently at CoinFest Events in the U.S., Canada, and even Seoul, Korea. I also host a Bitcoin and Blockchain Meet-Up Group here in Orange County, CA.
In relation to the Africa focus, despite some unexpected delays and dev issues, myself, David DeSantis and some partners are finally launching NewAfricaRadio(.)Net this summer, which is a syndicated and crowd-sourced ( 24-hour online) Bitcoin, Blockchain and crypto-centric program specifically for Africans; with a simple, free mobile app to follow by 2017. An interesting extension of this also ties into another project Team I am working with have created a separate platform for blockchain based ticketing, via an application we’re calling BiTiX (more on that TBA soon).
BC: When did you first hear about Onecoin?
TT: Let me preface the rest of this interview by stating that I am SOURCING nearly everything possible from their original sources, despite the language. The information IS mostly available in English, if you look, but Onecoin Kool-Aid drinkers are very easy to dismiss any negative report on their company and have been deeply indoctrinated into believing that bloggers are just “PCP’s” (“Penny-chasing-parasites” who thrive on collecting advertising pennies by getting people to click-through the links on their pages, and who seek out Top Companies to attack and sensationalize lies about them).
A “PPP” is a “Pictureless Profile Prick” who comments on blogs or stories without an actual photo of their face on their thumbnail image, and who is just “jealous,” a “hater” or having “fear” (as opposed to “faith” in Ruja and Onecoin). This cult-like indoctrination and brainwashing literally causes them to proceed within the scam with 100% blinders on, believing ONLY what they are told by the Leaders, and NONE off the facts, evidence and proof for which they are given from the “evil detractors.” Rather than following the dirty multi-million dollar money trail, which is lining the back pockets of the Top Leaders and co-conspirators in the scam, from themselves, the victims; their attention has been diverted to attack groups and people who are more likely to be considered Consumer Rights and Protections Advocates! It is true lunacy!
I realized that this was the first “cryptocurrency company” in the world, which did not even accept cryptocurrency!
So, around March of last year someone hit me up asking me if I wanted to join Onecoin. Onecoin is purported to be the “most transparent” cryptocurrency company (their *blockchain is “audited” – **read ridiculousness). However, they are both Centralized and Closed Source. Their claim is that they have “fixed” all of Bitcoin’s “flaws” and are “better than Bitcoin!” Ummmm… “Odd” – I thought. And about ten sec. after pulling up their embarrassingly novice looking website (perhaps speaking to their technical abilities to even make an alt-coin) and catching glaring spelling and grammatical errors, I realized that this was the first “cryptocurrency company” in the world, which did not even accept cryptocurrency!
BC:Do you think Onecoin is bigger than MMM Global?
TT: There are both differences and frightening similarities. MMM Globalat one point had from 5 to 40 million Members who lost up to $10 billion. MMM started in 1989, declared bankruptcy in 1997, and Sergei Mavrodi (the Founder) was on the run until his arrest in 2003. In 2007 he was convicted to serve 4 ½ years in Russian Prison. But, within a year of his release, he was at it again. Another year later he froze all pay outs, then started again some months later with similar results. This has been a “rinse and repeat” cycle from 1989 to present. This is the power, deception and replication model of the ponzi world. Juha Pariala, their Top Leader, whom Onecoin claims is making $4MM per month has a motto, “Duplication is Everything!” By comparison, Onecoin is only 22 months young, although it claims to have brought in $4.1 Billion Euro from an alleged Membership of over 2.1 million Independent Affiliates (IA’s) during this time. Affiliates purchase “Cryptocurrency (mis)Education Packages” (DETAILS) ranging from 110€ to 27,500€ (and more recently a 100 000€ “ELITE” package!!!) which all come with (ponzi-) tokens for “mining” (ponzi-) coins; however, there is NO “mining,” as you could have guessed, as the function of this system is based directly on exchanging “X” amount of tokens for “X” amount of coins, under the false premise that all members are “mining” a coin.”
TT: IA’s earn 10% commission on anyone they sign up, but with the caveat that only 6% goes into their “cash account” while 4% goes into what is called a “mandatory account.” So, the cash account is semi-liquid but expensive to withdraw from (I believe 15€); and the mandatory account, as the name implies, only allows you to either buy more tokens (or coins) or to use towards upgrading your packages towards the Infinity Package.
Note: there are IA’s who have multiple or even dozens of accounts!)
Additionally, the more expensive or multiple packages you buy (or “credits” you “roll” from your Mandatory Account into), the more tokens you get for mining, but ALSO, the more “SPLITS” you get with, the higher package. “Splits” are a common scam in the ponzi world because they double the amount of your tokens (which are really only ponzi points), but unlike any stock, commodity or asset, do not affect the price of that asset (or in this case “cryptocurrency”). There is a “Split Barometer” (which seems to be tied to any slow-downs to Onecoin’s Alexa Ratings Rankings) to notify IA’s when their money will next double, and therefore how hard they need to work to hussle in new victims.
Onecoin even offers something called “CoinSafe” (more like “CoinUNsafe”) which promises to earn additional interest of 12%+ (“like a bank”) on any coins you keep “locked” in an account for 12, 18 or more months. How this interest is accrued remains a mystery (are coins from the alleged blockchain somehow “reserved” for later allocation!?). Onecoin has falsely promoted a “KYC” policy, which they claim will be placed directly into their “New Blockchain” in October. October 1st is when they “switch on” the “new blockchain” and presumably “transfer coins” from the old one to the new one (cause you know, that’s possible), as well as “Double” all members current coins and tokens (some new feature in blockhcain tech they invented, apparently?). Anyone else see the ridiculousness of these claims?! Despite Ruja Ignatova claiming that “Onecoin will ‘bank the unbanked” (where have we heard this before?), anyone familiar with KYC knows that this claim is impossible and will have to be abandoned. Onecoin’s current KYC policy took an unheard of 30-60 days to apply for and does NOT apply whatsoever when signing up for the scheme, but only when attempting (and with a >95% fail rate according to the inundation of quickly deleted FB posts not their official pages) to sell coins. To inadvertently prove how ridiculous their bogus “KYC” Policy is, Onecoin Ponzi Pimp, Ken Labine, signed up his cat! I am not joking! Labine’s cat, Milo, is a “Onecoin Miner,” HERE.
It is important to note: almost everything and every delay which Onecoin does is solely for the purpose of trying to keep money in the game longer. This is necessary in order for new funds coming in being available to pay off existing investors.
FOR A MUCH MORE DETAILED DESCRIPTION OF THE SCHEME AND HOW THE PONZI/ PYRAMID HYBRID IS STRUCTURED, SEE HERE HERE.
Interestingly, about half of Onecoin’s entire network comes from their acquisitions of other failed ponzi scams, their contact information and, of course, their once broken dreams, which Onecoin promises “will make up for it this time (and finally make them rich, of course – after they “buy in” again).” These former failed ponzi scams, now part of Onecoin are well documented, and include: Conligus (10,000’s of members est. – the Steinkeller brothers), Univer Team (120,000 members est. – Alexandre Arenales), Unaico/ SiteTalk, OPN (Opportunity Network),( over 400,000 members est. – Sebastian Greenwood , Frank Rickets, Christian Goebel, others), Bonofa (60,000 members –Christian Goebel), BNG International (10,000’s members – John Mercucci). Every single one of these people listed, and a great deal of other Top Leaders in Onecoin have been involved in other scams, several in many cases, and for some, scamming is literally their career!
Onecoin will CERTAINLY cause greater financial devastation than Mt. Gox, several times over, and will be the direct cause of several suicides, guaranteed.
While many have no idea that this is a scam, having zero backgrounds in cryptocurrency OR MLM (in some cases), I have contacted and spoken with dozens of Team Leaders who DO know, but simply don’t care! The money is too good and they have already built their downlines and are making money! For this reason, Onecoin will CERTAINLY cause greater financial devastation than Mt. Gox, several times over, and will be the direct cause of several suicides, guaranteed. I am guessing at least a dozen. Maybe more! This is the perfect storm for massive financial loss and suicides, as well as deep shame and embarrassment for those who have established a downline, which includes any friends and family. This will be like their worse hangover imaginable, and it will stay with many of them for years to come, as these types of enormous scams are devastating relationship destroyers. They say hindsight is 20/20.
BC: Can you tell our readers about the leaders of Onecoin? Such as Ruja Ignatova?
TT: “Dr.” Ruja Ignatova has a fairly barren LinkedIn Profile and very little verifiable evidence for such an allegedly accomplished woman (dubious claims include: “200+ IQ/ MENSA Member,” “Business Woman of the Year, Bulgaria in both 2012 and 2014 [note: there is no such official award or Title],” “‘Expert’ in Cryptocurrency,” “Consulted cryptocurrency companies,” “has written a book on cryptocurrency,” and much more unverified claims). She is the Cult Leader, and there is some evidence suggesting that she and Sebastian Greenwood are really only the puppets to a far more sinister and nefarious criminal underbelly. But, let’s focus more on what we know and can prove.
So, here’s what we think we know:
She was an Associate Principal at the management consulting firm, McKinsey & Company (possibly from 2004 – 2009). She claims to have studied “Law and Economics” at Oxford in 2004. She claims to have received a Doctor of Law (JD), Law, magna cum laude from University of Konstanz (1999 – 2002). Somewhere in between, she studied International Law. This would prove helpful for later setting up various shell companies to funnel around laundered money into real estate and other assets. She recently purchased over $20 million dollars worth of property in Bulgaria according to THIS investigative journalism in her local Newspaper in Sofia, Bulgaria. The article details much of how this money trail works, who the players are, and the insane amount of financial tributaries, which Prosecutors will eventually need to follow in order to recover any losses from this scam when it implodes.
We also know that her and her father, Plamen Ignatov, purchased and almost immediately bankrupted a company called Walthofener Gusswerk. The Workers Union, IG-Metal, filed criminal charges. Ruja was placed on probation and investigation for fraud in Bulgaria for stealing $1M euro and bankrupting the company, much of this is documented HEREandHERE.
One of the most important things we know is that Ruja founded a company called Crypto Real Investment Trust. Despite claims that she has (QUOTE) “never been involved in any MLM before Onecoin,” a damning and recently leaked video, proves she was clearly linked to another MLM ponzi scam called “BigCoin.” This damning video features Ruja Ignatova speaking before an audience at the Kowloon, Shangri-La hotel in Hong Kong in mid-2014, just 3 months before launching Onecoin. “BigCoin” was claimed to be “better than bitcoin/ the new bitcoin.” Its slogan was “The Future of Money.” Interestingly, Onecoin’s slogan is, “The Future of Payments.” (COMPARE). Ruja’s company, CRIT, as detailed in the video, managed funds for both BigCoin and “Prosper Club.” These two scams were responsible for bilking investors out of over $50MM!!
The “Crypto Queen,” as she calls herself, an “EXPERT” in cryptocurrency claims Bitcoin started “before terrorist attacks and before September 11 (2001)” – EVERYONE knows that Bitcoin began in January 2009 (certainly, an “expert” would. Right?): TITLE: “Dr. Ruja “OneCoin” Ignatova in London 06. Feb. 2016:” See here starting at exactly 5:15 mark.
HERE is, I believe her first (and LAST) interview EVER with a cryptocurrency advocate group out of Estonia (where they are also under investigation).
Sebastian Greenwoodis the Master Distributor at Onecoin. He was heavily involved in BigCoin(Onecoin’s immediate predecessor) and Prosper Club (AKA: Prosper Inc.) with partner/ scammers: Jarle Thorson and John Ng, which defrauded investors out of over $50MM. Ruja Ignatova appears to have essentially functioned as a Treasurer for this scam. Prior to this, He was also involved (as Global Product Mgr) in the SiteTalk/ Unaico scam, which followed the typical ponzi playbook, and also cost investors tons, and which later merged a percentage of affiliates into what is now Onecoin. Additionally, he was CEO and Co-Founder of Loopium.
Nigel Allanwas the first President and face of Onecoin, early on, coming freshly out of several scams which stole everyone’s money, including Crypto888 and Brilliant Carbon (which sold fake “carbon credits” to investors). He is a career criminal but had a falling out with Ruja in January of last year (probably too much dirt to wipe clean). Watchthis short video for his and more of Sebastian’s history.
BC: Can you explain the recent conference they had and what that was all about? They had a sign there calling “Bitcoin dead” right?
TT: They had a three story tall image behind the stage claiming,“Onecoin: The Bitcoin Killer!”. This occurred at Onecoin’s biggest event of the year, “CoinRush, London,” on June 11th. Leading up to this event, Top Leaders in Onecoin had been claiming for over a year that as soon as they hit 630.000.000 coins mined (30%), that they had between 50,000, 150,000 and “500,000 Merchants already lined up”to be on-boarded. Ken Labine even recorded a video of himself, completely ecstatic about being able to buy “whatever you could think of, cars, Ferrari’s, etc.,” as soon as the 30% “mined” happened (HERE is that crazy video HERE is that crazy video).
Mind you, they do not have a wallet and the coins ONLY trade internally, and their value is created based on one of two factors: 1.) it can either remain constant (i.e., horizontal), or 2.) it can go up. Nevertheless, 30% “mined” came and went mid-April and there was not a single word from the Company. Due to this, Ken Labine and others had egg on their face for promising their downline what their upline had promised them: Merchants! But, ALL reps determined that this announcement would come at the massively hyped London Event, CoinRush! What happened instead, was Ruja announced the following:
A new name: Onecoin will now become OneLife (obviously due to the name “Onecoin” now being high up on Google’s scam radar/ SEO)
A new website! (okay, change names = change website)
A new Mobile App (similar to what TelexFree and others pitched as “new products and services” before buckling in upon themselves) and Merchant App to help get the first of 1,000,000 planned merchants within the next 18 months (remind you of anything? HERE)
AND THE BIG NEWS!!! Their FORMERLY “Fixed and Finite” number of coins at 2.1 Billion has now been inflated to a brand new cap of 120 BILLION coins (because Ruja said they don’t have enough for the merchants and that they want to be “bigger than Ripple, also”)! Now, despite increasing their supply by 5,700x (57,000x more coins than bitcoin will ever have), the coins, of course, did not lose any value, whatsoever. So, again, much magic is taking place here.
AND BTW: NOT A SINGLE MERCHANT IN THE WORLD CAN USE ONECOIN YET!
But Finally, I almost forgot, they announced their OneLife Tablet, a cheap, circa 2009 style $70 Tablet (SPECS) which they have placed very expensive Onecoin stickers onto, apparently, and are listing at a cost of 550€. The funny thing is that this is the FIRST product that you can actually buy with your Onecoins!! Unfortunately, according to Onecoin’s “privately owned site,”http://www.xcoinx.com/ the current (invented) value of Onecoin is $7.05 (but rising shortly, as the “Split Barometer” mentioned earlier is today at 99%), however, Ruja’s price on the tablet, if you choose to pay in Onecoin is 1,160 Onecoins, bringing the cost to well over $7,000 (7,236€) !! SEE HERE! And HERE! LET’S GO THROUGH THIS STEP-BY-STEP: 1.) Ruja Ignatova and company set the invented price of their closed system pseudo-cryptocurrency at approx $7.05, despite 90% of “sell orders” timing out or not being executed. 2.) She then dispels all myths that she is anything different from a bank or the Federal Reserve system by increasing the “money supply” by 5,700x (from 2.1B to 120Bcoins). 3.) She then claims that this will not affect the price (despite common market economics suggesting a 96.5% decrease to approximate $0.12 each (a loss of $6.93 per coin), or thereabouts, if not more, due to the already difficult time selling). 4.) She then says she is “DOUBLING” everyone coins and tokens until October 1st when they “switch on” the new blockchain. 5.) She then offers a retail product which costs 550€ for 7,236€ in Onecoin, essentially ADMITTING that even she does not give the ponzi coin 10% of the value she is telling you it is worth! CONCLUSION: IA’s are responsible for signing up ONE MILLION merchants, in 18 months, on a pseudo-alt-coin, which is not traded, which you cannot convert into fiat anytime soon, and which the COMPANY issuing it demonstrates themselves that they are only accepting it at 8/100ths on the dollar.
For more analysis of the June 11th CoinRush Event in London, check out this blog (and some of the other detailed Onecoin coverage) HERE.
BC: You are planning on having a moderated debate with Ken Labine. Can you tell us about this?
TT: Sure. Labine has agreed to join into a “Moderated Debate” this Wednesday, at 12:00 NOON Pacific Standard Time. He told me he doesn’t want to speak until 24 hrs before the event. I just hope he shows! Stay tuned! I will post the link or follow up here or in the comments Labine and I have a bit of history. A year ago we had a “friendly” on-air discussion about Onecoin. We initially agreed on many of the ideologies for supporting a cryptocurrency, but of course disagreed 100% that Onecoin was a real one. Like any indoctrinated Onecoiner, Labine has trouble following logic and is dismissive or avoiding of any of the real issues. Fast-Forward to April 9th, 2016, CoinFest. Labine agreed to debate me at 4:00 PM PST, which I planned on incorporating into the itinerary of the Event. We had some cool speakers already, Amy Elizabeth from the Decentralized Library of Alexandria (FB Page) and M.K. Lords of AirBitz. So the debate was going to be a fun diversion, but rather than letting me speak a single word he carried on his “Opening Statement” for literally 4 hrs. 20 min. Besides slightly disrupting the day’s schedule, this cowardice and avoidance was the turning point in which I felt it was really time to go against this giant scam and expose the lies and corruption of Onecoin, as widely as possible. Without naming names, there are many have contributed to documenting the fraud and ponzi nature of Ruja and her scam, and they are the ones who paved the way for what we know today.
Onecoin is a particularly terrible and devious, hybrid ponzi/ pyramid/ cryptocurrency scam! It is a particularly dangerous one, as its members are not only financially tied to their belief in it, but people are also INCREDIBLY emotionally tied to it, more so than anything else I have ever seen, and in a similar way we enthusiasts support and believe in the future of REAL cryptocurrencies like bitcoin, Dash, Ethereum, etc!
HERE is what ANY commodity or currency chart looks like in real life: EXAMPLE
HERE is the first chart in the entire world which magically looks like this:ONECOIN CHART
It is no exaggeration at all to label this a “cult,” and I am not joking! Albeit in German, this News Report talks about Onecoin using unauthorized MasterCard, being a ponzi/ pyramid scheme, being looked at by financial regulators, AS WELL AS an Agency dealing specifically with sects (like Scientology) HERE!
In fact, Germany is only one of nearly a dozen countries who have recently opened investigations into Onecoin. Video from a major News Network reports on the actual arrest of several Onecoin Leaders in China, this past March and about Onecoin being an illegal ponzi scheme, and interviews a Police Officer from Ghuang Zhong who is working with Top Authorities via “Project Hurricane,” which was initiated to fight cyber crime and these types of scams. $45.7 million dollars was seized from the Onecoin investors during the raid (VIDEO HERE).
Germany is only one of nearly a dozen countries who have recently opened investigations into Onecoin.
The Swedish Gaming Board declared OneCoin to be “a chain letter game or similar,” after Police launched a preliminary investigation (SEE HERE) NOTE: You should be aware that under Swedish Law, a chain letter is the same thing as an illegal pyramid scheme. The Norwegian DSA call OneCoin out for being an “ugly” pyramid scheme (SEE HERE). The Norwegian DSA went on to say that “OneCoin is marketed in Norway as an investment scheme. An “enormous” ROI of about 18,000% is cited in OneCoin promotional material, along with claims OneCoin can be used like a bank account that pays 13% interest.”
NOTE: While claiming to be the new Bitcoin, they instead concentrated on selling so-called “Tokens”… which multiply themselves with express speed when they frequently split, which means that the number of tokens doubles (company-wide) without a drop in value. This, the Norwegian DSA claim, is evidence of pyramid scheme fraud.” Austria has issued a warning to its citizens that OneCoin was an illegal pyramid scheme (SEE HERE). Latvia has also declared OneCoin to be an illegal pyramid scheme and Ponzi (SEE HERE). It should be noted that none of this or anything else is enough to convince Labine or others what’s really going on. They are simply “smarter” than all of these Federal authorities and other Agencies who “do not understand Onecoin.”
The Founders of one of the biggest Ponzi scams in recent history, Zeek Rewards, will be going to court next month, July 7th, to face Trial on a Federal Indictment. One of the many facts that the Department of Justice will be trying to prove is that: “The co-conspirators used this money, in Ponzi-like fashion, to pay other victim-investors in the scheme and to personally enrich themselves.” “…and that the true revenue of the scheme …came from victim-investors.”
It is easy to see how this would also be the crux of the case if and when Onecoin or any of their Top Ponzi Pimp Affiliates are indicted by Prosecutors here in the U.S.
As the Ponzi scheme grew in size and scope, banks and other financial institutions began to question the co-conspirators about the fraudulent appearance of the scheme, and many shut down or refused to open Zeek bank accounts.– And this is exactly what has been happening within Onecoin, as something like 15 bank, so far, have forced them to close their accounts on compliance and suspicious activity concerns, such as Money Laundering. More coverage on what the similar ponzi scheme, Zeek Rewards, is facing HERE.
In regards to the bank changes, it appears that the IMS Account set up with Deutsche Bank is owned by Frank Rickets, former CEO of OPN/ SiteTalk, a known ponzi which lost everyone’s money. This would seem to be the very definition of Money Laundering, since it is not even in one of Onecoin’s many Shell Companies (great article covering the shell companies and Real Estate investments from a recent Bulgarian Newspaper. links and so much more can be found in this Finnish Blog, which has well over 8,000 comments on the scam: MuROBBS). It was new friends from this blog who contacted me, claiming to know family and friends there and in neighboring countries who have literally mortgaged their homes or sunken their entire 40 years worth of Life Savings into this “get-rich-quick scam, which will replace Bitcoin as the #1 cryptocurrency.
BC: Onecoin says it is second largest cryptocurrency behind Bitcoin in market cap. But it doesn’t show it on coinmarketcap.com or anywhere else. Why is that?
TT: Onecoin is not traded on the open market. If it were, it would crash. No exchange will list an unfungible alt-coin, particularly one with no known developers, technology, security or benefit. So, Onecoin quietly created their own. However, like in many of their scammy efforts, Onecoin has shown themselves extremely lazy in even making their pseudo coin pass any real scrutiny, whatsoever. They created what they called a “cryptocurrency exchange,” xcoinx. But xcoinx does not function at al, even though it has been over a year since its May 2015 launch. 100% of their FAQ’s are plagiarized, verbatim, from BitStamp, as well as plagiarizing the UI mostly from CoinMarketCap (and placing Onecoin as the #2 in market capitalization, directly below bitcoin and above Ethereum), as evidenced and can be compared below:
Onecoin has advertised this as an independent 3rd party site, which is just another lie. One of their Top Team Leaders in the UK, Joby Boughey (formerly a Team Leader with another giant ponzi scam called “U-Fun/ U-Token”), accidently revealed the truth in his blog, that xcoinx is, in fact, Onecoin’s privately owned site SEE HERE. (He later contradicted himself, but the cat is already out of the bag). In a short, but hilarious excerpt from the 4 ½ hour debate I was filibustered on, on April 9th, Ken Labine is caught arguing against Onecoin CEO and Founder, Ruja Ignatova about whether or not it is even an “Exchange” HERE.
Onecoin is obsessed with Bitcoin. A Onecoin Press Release recently claim that people were leaving Bitcoin due to “the price plummeting” and due to its “recent rapid decline.” NOTE: Bitcoin is up nearly 30% since the day that came out.HERE IS THE OFFICIAL PRESS RELEASE. Compare this to a 12-month bitcoin chart from the day the Press Release came out HERE.
BC: Is Onecoin a cryptocurrency at all?
TT:Well, a former onecoin member says THIS.Onecoin CLAIMS to show Onecoin’s blockchain in their back office, but let’s analyze this. I will walk you through the proof that the blockchain showing in the back office is bogus, step-by-step! Take a look at this.
You all recognize this screen.
So, let’s all follow along now.
1.) Bottom Right TITLE: “Current Block is Mining From” Here is you fake “blockchain” as seen in your back office. This is simply a looped counter (banner) VIDEO pasted over a looped video source.
So, the above-looped video with the counter inserted over of it for “blocks mined” that flashes every ten minutes, which you all see, only gives the “appearance” of something technical happening, but of course, it’s all just smoke and mirrors.
BUT WAIT! THERE’S MORE!
2.) TOP LEFT, COLUMN ONE “Block Height” – nothing wrong here. This is simply the block count since the alleged Genesis block.
3.) COLUMN TWO: AGE – There is little deviation from 10 minute block times.
This doesn’t make sense FOR TWO REASONS: a. There is zero “difficulty” within a closed loop system – REASON: a closed system does not “compete” with others. It is a self-satisfying reward EVERY TIME. b. If it were not a closed system than there WOULD be competition. As such, while the block times should AVERAGE 10 minutes, it is only an average. You would definitely see 3 minutes, as well as 15-20 minute block times occasionally because computers are literally “guessing” solutions, and USUALLY the amount of peta-hashes looking for such solutions would be similar to the amount of coin flips it would take to land on heads 10x in a row. After about ten minutes, one of the consecutive flips might do it. However, it is unlikely, but possible it could take 20 minutes or one minute. So, such little deviation is definitely “faked” and I have looked at MANY examples in the back office of block times and have never personally seen more than a minute of difference.
4.) COLUMN THREE: TRANSACTIONS – Just Lol for numerous reasons: a.) I have never seen more than one transaction posted here.
WHAT DOES THAT IMPLY? Well, as you know, there are an alleged 1.85MM people who have traded tokens for mining. The distribution of those tokens would come from the blockchain (unless they have created in Excel Spreadsheets [which they seem to be]). So, there should be NUMEROUS, MAYBE HUNDREDS of transactions per block!
b.) S-Systems (Onecoin’s fake auditor [similar to your fake exchange, xcoinx, and operated by Onecoin themselves] who has not published an audit for this “transparent” company since January) stated in their joke of an Audit (which has ZERO TECHNICAL DATA (- WHICH IS WHAT AN “AUDIT” IS!), which reads more like a Letter of Reccomendation to oneself, “There are no transactions not included in the Blockchain.” – well, as I just demonstrated, this is a lie AGAIN, FOR TWO REASONS:
#1 This is a “logical fallacy” because if a transaction occurred outside the blockchain, HOW WOULD THEY KNOW!?! ANSWER: THEY WOULDN’T.
and #2 if it were true, which it obviously is NOT, than transactions from each block solved would be registered in the blockchain as moving into your back office. Every time someone gets coins from mining they would be able to see the coin distribution from each block.
5.) COLUMN FOUR: TOTAL SENT – this is only “coins created” and it is called hyper-inflation. Other than that, nothing to point out here.
6.) COLUMN FIVE: SIZE (KB) – this is hilarious, also AGAIN, FOR A FEW REASONS! All sizes are shown as 188KB (although recently they show as 189KB).
#1 this indicates that there is only a single transaction as shown in column 3. However, the size of a single bitcoin transaction is about 1-2KB, so this makes no sense.
Furthermore, #2 if there were any “difficulty” in the mining process and if computers were batching transactions for coins created and distributed, than every single block would vary in KB greatly.
7.) BOTTOM LEFT: LATEST TRANSACTIONS – The PURPOSE of a “block explorer/ blockchain” is to be able to “FIND” transactions and transactional history. This is nothing “proprietary” that would need to be hidden. It simply does not exist with Onecon. You CANNOT “click” a transaction and find the history of it. Neither can you view any blocks or transactions over an hour and some change old.
THIS, AGAIN, PROVES THAT THIS IS NOT A BLOCKCHAIN. JUST NUMBERS ON A SCREEN TIED TO A “COUNTER” USED TO DECEIVE.
Furthermore, (technical) the alphanumeric hashes shown as “transactions” make no cryptographic sense! They are NOT math based in a cryptographic fashion, which could link any inputs and outputs together algorithmically. It is a complete farce!
BC: Do you think Onecoin will fail and will hurt investors?
TT: Of course it will. The company was Founded by an array of professional and career con-artists who make their money tricking and defrauding people. I was recently invited to participate in a small panel discussion between another MLM Professional and Onecoin “Defector” and a moderator of the discussion, to recap Onecoin’s history. I was excited to see the entire podcast picked up by “Internet Crime Fighters Organization (ICFO)”, in its entirety, which you can see here: http://internetcrimefightersorg.com/onecoin-review/ in just one month, despite its poor audio at times, its seemingly obscure subject matter (Onecoin), and its length of just over 2 hours, it already has nearly 5,000 views!
HERE is the link to the review of the video by a recently defected Onecoiner:
Even though Ponzi schemes sometimes begin as a legitimate business, Onecoin is not even close! It’s Founders have ALL been involved in previous scandals, financial crimes, and ponzi/ pyramid schemes; most are career fraudsters, others convicted felons. Followers will say that “the past is the past,” but fail to acknowledge that there has been absolutely no change in these “leaders” behavior! Look: Onecoin and Ruja Ignatova have lied about. “Business Opportunity,” which solicits investment on the basis of advertised ROI’s and is using newly invested funds to pay off existing investors, cannot succeed.
The centralized nature of Onecoin creates a single Point-of-Failure, which Ruja has already exploited multiple times: As evidenced HERE, Onecoin has already defrauded one of its members, Chris Stone, of $200,000 worth of “ponzi points” by direct theft! Ruja has REPEATED this theft recently with Onecoiners who are recently defecting due to these types of revelations which are coming out. Another Top Team Leader, who made a video complaining about their own recent theft. HERE: Message to Dr. Ruja Ignatova Onecoin from X Onecoin Top Leader & host Imi Shah.
There is further proof that Onecoin’s “non-profit charity,” One World Foundation (CEO: Ruja Ignatova) is just another fake shell company used to lanuder money, and to give the appearance of a real organization set up to legitimize Onecoin, itself HERE.
FORBES MAGAZINE COVER AND EDITORIAL LIE:
Onecoin paid at least $300,000 to advertise in a marketing arm of Forbes, Bulgaria, called Brand Voice. However, two separate Onecoin Team Leaders here in the U.S. claimed they had paid $1MM (of investor/ ponzi earnings, of course).
Onecoin promoted the fraud on their official website as an actual Forbes “cover” (and article) in order to lure in new investor-victims money HERE, but this was merely a paid advertisement. See Brand Voice Media Kit: HERE
The Financial IT Feb. The issue with Ruja on the cover is AN EXACT REPRINT of January. Onecoin PAID to simply reprint January and add a new cover and insert one article. Otherwise, both issues are identical.
Ruja and affiliates have claimed to have bought several banks, including Hermes Bank (SEE DISCUSSION HERE) Sal Leto, Onecoin Ponzi Pimp and Team Leader in USA claimed, “(OneCoin) has acquired a hundred and eighty banking licenses, to legally own their own banks, their own branch and their own office, inside all one hundred and eighty countries that we operate in.”
She and the Top Conspirators have LIED about nearly everything there is to LIE about, including that in 2012 and 2014 she was awarded Business Woman of the Year in Bulgaria (Category International Business). But this too was simply a paid publicity stunt perpetrated by a Professional Image Consultancy firm in her country. The Title “Business Woman of the Year, Bulgaria,” does not formally exist!
CONCLUSION: This is ALL smoke and mirrors designed to deceive people and take their money! Onecoin has no intention of doing otherwise, and it is not now, nor will it ever be an actual and traded cryptocurrency (with a 120 BILLION coin cap), let alone with ONE MILLION Merchants!
BC: What is the goal of your mission here by challenging Onecoin?
TT: Not everyone involved in Onecoin are scammers, of course. But I have personally spoken with MANY IA’s and Team Leaders who have ADMITTED that they are completely aware of it being a fraud ….but they don’t care “as long as we’re making money!”
Part of my Goal is to prove once and for all that Onecoin is founded by bad players and con-artists who know nothing whatsoever about cryptocurrency. It is based on a perpetual pattern of new and convincing lies in this hybrid scheme, which is only meant to deceive and bring in new investors to pay off the old. It is to prove that the company’s founders have established a pattern of fraud and that the end goal of this is no different: to enrich themselves at the expense of others. It is to demonstrate that you cannot trust these people, as they do not have anyone but their own best interests in mind, and that they will do or say anything to keep the money rolling in as long as possible. It is to preach that Due Diligence is important whenever you are considering entrusting your money with startups or so-called “Business Opportunities.”
My MISSION for challenging them is for widespread disclosure, exposing their countless incidents of lies and deception, so that they collapse sooner, rather than later. This reason is twofold: #1.) fewer people hurt and financially destroyed, #2.) to mitigate the legal and global legislative and regulatory ramifications of a second (or now third with the DAO) Mt. Gox.
Cryptocurrency and Blockchain Technology can and WILL change the world! I am hoping that Onecoiners will eventually come to their senses now, rather than before it is too late, but either way will come to understand the great industry, market, opportunities, and freedom which an honest and transparent cryptocurrency can be
Final note: There are plenty of things I was not even able to cover, despite the length of this. However, the hyperlinks herein will assist anyone (or Authorities) investigating the subject to delve much more deeply into this sinister world of pseudo-cryptocurrency/ ponzi/ pyramid fraud. Good luck!
Bitcoin.com would like to thank Tim Tayshun for allowing our readers to view his research.
TT: Let me preface the rest of this interview by stating that I am SOURCING nearly everything possible from their original sources, despite the language. The information IS mostly available in English, if you look, but Onecoin Kool-Aid drinkers are very easy to dismiss any negative report on their company and have been deeply indoctrinated into believing that bloggers are just “PCP’s” (“Penny-chasing-parasites” who thrive on collecting advertising pennies by getting people to click-through the links on their pages, and who seek out Top Companies to attack and sensationalize lies about them).
TT: There are both differences and frightening similarities. 
TT: “Dr.” Ruja Ignatova 
TT: They had a three story tall image behind the stage claiming,
This doesn’t make sense FOR TWO REASONS: a. There is zero “difficulty” within a closed loop system – REASON: a closed system does not “compete” with others. It is a self-satisfying reward EVERY TIME. b. If it were not a closed system than there WOULD be competition. As such, while the block times should AVERAGE 10 minutes, it is only an average. You would definitely see 3 minutes, as well as 15-20 minute block times occasionally because computers are literally “guessing” solutions, and USUALLY the amount of peta-hashes looking for such solutions would be similar to the amount of coin flips it would take to land on heads 10x in a row. After about ten minutes, one of the consecutive flips might do it. However, it is unlikely, but possible it could take 20 minutes or one minute. So, such little deviation is definitely “faked” and I have looked at MANY examples in the back office of block times and have never personally seen more than a minute of difference.
The Financial IT Feb. The issue with Ruja on the cover is AN EXACT REPRINT of January. Onecoin PAID to simply reprint January and add a new cover and insert one article. Otherwise, both issues are identical.
Part of my Goal is to prove once and for all that Onecoin is founded by bad players and con-artists who know nothing whatsoever about cryptocurrency. It is based on a perpetual pattern of new and convincing lies in this hybrid scheme, which is only meant to deceive and bring in new investors to pay off the old. It is to prove that the company’s founders have established a pattern of fraud and that the end goal of this is no different: to enrich themselves at the expense of others. It is to demonstrate that you cannot trust these people, as they do not have anyone but their own best interests in mind, and that they will do or say anything to keep the money rolling in as long as possible. It is to preach that Due Diligence is important whenever you are considering entrusting your money with startups or so-called “Business Opportunities.”