Huge scam (over 1.8MM sheep, were pulling an estimated $200MM a month at their peak), thankfully 19 months later, at the beginning of its end. I've been pretty heavily involved in the Cryptocurrency space for about 3 1/2 years. This company cannot open their mouth without a lie falling out, instantly. Many ignorant sheep , particularly in Scandanavian countries have mortgaged their homes and invested (wrong word) their life savings. They are deplorable human beings and career Ponzi criminals. Google my name, TimTayshun and onecoin and you will see all of mine (and others) most poignant arguments against it. They have a db that they have convinced their crypto-kindergartner followers is a Blockchain. I predict several suicides once it collapses, as at this size, that is just what happens.
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Thanks Tim. After googling your name and OneCoin, I found this article. http://cointelegraph.com/news/one-coin-much-scam-onecoin-exposed-as-global-mlm-ponzi-scheme
This is so sad. I don't want people being taken advantage of. The love of money is the root of all evil.
Wow it's hard to believe that there are that many people that would even consider getting into OneCoin. Are those membership and revenue numbers made up too? Glad to see you do the research.
Yeah usually I reserve judgement because the word 'scam' is used too often with legitimate crypto projects, but OneCoin is a different story. I too wouldn't be surprised if they get shut down, but they're probably doing everything they can to be technically legal because they only sell 'education'. We'll see.
I have not and never will invest in OneCoin. That said, OneCoin has demonstrated the power of MLM. If legitimately married to a cryptocurrency with built-in utility from the outset, a new currency utilizing MLM could break away from the pack quickly.