ICFO Archive: OneCoin Ponzi Scheme 6 [Video]

OneCoin

Older ICFO archive history of OneCoin Ponzi Scheme 5 (Comments Tim Tayshun)

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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.

COLUMN FOUR: TOTAL SENT – this is only “coins created” and it is called hyper-inflation. Other than that, nothing to point out here.

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.

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 hexadecimal 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!

COMPARISONS:
“How Bitcoin Works in 5 Minutes (Technical)
 https://www.youtube.com/watch?v=l9jOJk30eQs
AND
“How Bitcoin Works Under the Hood” (22 minutes, outstanding details)
 https://www.youtube.com/watch?v=Lx9zgZCMqXE

Super Oncidium Thank you, Tim, very enlightening.

OneCoin Adds Shariah Compliance  https://www.businessforhome.org/2016/08/onecoin-adds-shariah-compliance/

Onecoin “Merchant” Adoption https://www.reddit.com/r/Bitcoin/comments/4y1wky/onecoin_merchant_adoption/

Satoshi Nakamoto  Try to check another form of scam the TBC or THE BILLION COIN, it is real scam that they sell TBC for BItcoin then many people believe that this coin becomes $1Million this coming December ..

Onecoin sales presentation on “Dr. Ruja” [cringe warning] https://www.reddit.com/r/Bitcoin/comments/4y7ndh/onecoin_sales_presentation_on_dr_ruja_cringe/

Super Oncidium

Had a listen to the Chap ( X One Coin Leader ), just as an unbiased observer, I noticed that at the beginning of his talk, he said that he had left One Coin of his own free will.
Then in the next chapter, he spoke of his account being frozen by One Coin, and so I start to doubt the validity of his story.
Nonetheless, I keep watching as emotion can sometimes cloud our thoughts,
sorry, but I had to switch off after he was starting to repeat himself over and over, digressing into a ramble.
However, his script was well laid out, logical and presented a reasonable argument,
but due to the anomalies in his video,
I have to disregard most of his effort due to the emotion involved.
In regards to the blockchain display, can anyone tell me ?, would it not be a massive security
risk to display the actual BlockChain ?

TimTayshun

RE: “In regards to the blockchain display, can anyone tell me ?, would it not be a massive security risk to display the actual BlockChain ?”

The reason a blockchain is a broadcast is two:

It must be broadcast in order for “nodes” to query and crunch the batches of numerous transactions and sort them, mathematically, into “blocks.” Each “node” holds the entire blockchain history of blocks and transactions which have been mathematically stacked. Due to the math, this is what forms the immutable, distributed ledger which can never be changed, once recorded. “Miners” (or “pools” of miners) running these nodes compete to be the first to correctly “hash” sets of transactions into a block before their competitors. Miners use specialized equipment which is essentially throwing out “guesses” at incredible speeds to see “what sticks.” You can think of this process as that of a Sudoku Puzzle in which blank spaces are constantly populated with new numbers every nano-second until the correct answer is reached. If a miner (or pool) solves the puzzle first, they broadcast their solution to the network, and the network verifies that “yes, the math adds up perfectly,” and a new “block” is added to the blockchain. The “difficulty” of solving these blocks is adjusted every 2,016 blocks (approx. every two weeks) to set a target solution time of every 10 min. (though this is just an average, and therefore some blocks may take 12-15 minutes or more, and others may be solved in just a few minutes – but with the average being 10).

Each new solved block not only batches the set of the most recent transactions into the blockchain but creates a set amount of new bitcoins that are brought into circulation (presently 12.5 BTC). This new 12.5 BTC is captured by the miner (or mining pool) who solved the block, as their reward for doing so. Since bitcoin cryptocurrency was designed to be “anti-inflationary,” block rewards are tapered down over time in a process called “halving.” From the genesis block in January 2009 through late 2013 the “reward” for solving blocks was 50.0 BTC. From that time through July of this year, the block reward was 25.0 BTC. Presently, since July 2016 and for approximately the next 4 years, the reward is 12.5 BTC until it then “halves” again to 6.25 BTC. Roughly every 4 years (a specific # of blocks) newly circulated BTC is halved until it is completely dispensed sometime around the year 2140. Bitcoin was designed this way to mimic industrial mining of precious minerals, like gold, for which the extraction process depletes the total amount available over time, thereby affecting the scarcity in a supply and demand-driven market.

a.) The “blockchain display,” if you will, importantly functions as the mechanism for which to search and source any and all transactions back to the original “genesis transaction.” Since blocks and transactions are all mathematically tied together, they are all historically tied to preceding transactions and blocks forever going back or moving forward. The terminology for “The blockchain display,” as you called it, allows the function of what we call a “Blockchain Explorer.” The Blockchain Explorer is available for anyone, anywhere, at any time, to browse and search the entire blockchain, and to know from what wallet x transaction was sent to what another wallet; historically, moving backward or forward.
2. b.) THIS IS EXACTLY WHAT MAKES CRYPTOCURRENCY 100% TRANSPARENT. IF YOU CANNOT SOURCE THE FROM/ TO WALLET ADDRESS, THIS IS NOT A TRANSPARENT CRYPTOCURRENCY – which is exactly what makes Onecoin a total JOKE when they say they are “the most transparent.” They are in fact THE LEAST transparent alleged cryptocurrency on earth.

For an example of what is described above, please see, play around with and “click around” HERE:

 http://www.blockchain.info

TO YOUR POINT ABOUT A MASSIVE SECURITY RISK:
With a massively Distributed Ledger System, such as Bitcoin or Ethereum, there is such a robust distributed and decentralized network running nodes all over the world, which relies on “Network Consensus” to approve the “math,” that it is one of the most, if not THE most secure systems in the entire world. ONECOIN, ON THE OTHER HAND, is NOT decentralized OR distributed. Their “blockchain” (which I do not at all believe even exists) is completely centralized and running on only a few (if not a single) networks (or even one laptop via Excel spreadsheets).

This makes it HIGHLY susceptible to both hacking, as well as manipulation (ie., FRAUD). There is absolutely no system of “checks and balances” or protection for its users. Whereas Bitcoin would have a giant incentive of nearly $10 Billion (market cap) to “hack,” it has never been done (and is assumed to be next to, if not impossible). While Bitcoin, itself, has never been hacked, 3rd Party custodians of bitcoin funds (ie., “Exchanges” [AKA: digital-money ‘Banks’]) have been hacked due to poor security protocols or breaches in security. The reason Onecoin’s internal system has not already been hacked is, presumably, because no one but Onecoiners believe Onecoins have any value (they are not traded on the open market, at all – the “price” is invented, internally).

IMPORTANT NOTE:
Opening Onecoin’s (alleged) “blockchain display” and Blockchain Explorer, publicly, would NOT be revealing their “Source Code” – which is a fallacy that Onecoiners have been indoctrinated into believing. In fact, there would be ZERO DOWNSIDE to doing so, it would only PROVE that they were legitimate – which, of course, they aren’t.

OF PARTICULAR INTEREST:
Onecoin says they are “retiring the old blockchain” and “switching over” to the new one on October 1st. Without addressing the absurdity of this, it is all the more reason for Onecoiners to DEMAND that the old blockchain, if it even existed, was made available (either publicly, or at least for Members) in order to prove its existence, and to prove that mining and coin allocation was even taking place on the blockchain (which it isn’t).

Sorry for the long explanation, but I think this is a complete explanation.

Super Oncidium  Thank you so much Tim, what an excellent post, I am going to read again tomorrow, to help me take it all in.

Did OneCoin just lose its Deutsche Bank account?  http://behindmlm.com/companies/onecoin/did-onecoin-just-lose-their-deutsche-bank-account/

The OneCoin scammers have a new youtube channel https://www.reddit.com/r/Bitcoin/comments/4yzu80/the_onecoin_scammers_have_a_new_youtubechanel/

OneCoin’s multi-billion-dollar crowdsale that nobody heard about [Video] https://www.reddit.com/r/Bitcoin/comments/4yxuu2/onecoins_multibillion_dollar_crowdsale_that/

Igor Alberts And Andrea Cimbala – OneCoin Achieve $850,000 Per Month https://www.businessforhome.org/2016/08/igor-alberts-and-andrea-cimbala-onecoin-achieve-850000-per-month/

OneCoin is really a scam?  https://www.reddit.com/r/Bitcoin/comments/4zf1pr/onecoin_is_really_scam/

OneCoin Posts Fake Semper Fortis Letter To Gain Credibility http://www.newsbtc.com/2016/08/29/onecoin-posts-fake-semper-fortis-letter-gain-credibility/

OneCoin Posts Fake Semper Fortis Letter To Gain Credibility http://www.newsbtc.com/2016/08/29/onecoin-posts-fake-semper-fortis-letter-gain-credibility/

WTF] Onecoin holding meetup in Amsterdam tomorrow – Cancelledin_nzfgreqnz_gbzbeebj/"> uggcf://jjj.erqqvg.pbz/e/Ovgpbva/pbzzragf/51sa5t/jgs_barpbva_ubyqvat_zrrghc_va_nzfgreqnz_gbzbeebj/

OneCoin is Growing Fast – 320 Millionaires in Commission https://www.businessforhome.org/2016/09/onecoin-is-growing-fast-320-millionaires-in-commission/

Famous Nuclear Scientist (MIT?), Dr. Patrick G Bailey Presents OneCoin : How bad or fake / stagged is that video ? https://www.reddit.com/r/Bitcoin/comments/51kauw/famous_nuclear_scientist_mit_dr_patrick_g_bailey/

Video  https://youtu.be/YE4nx4554oQ

Dr. Prepperorg…. WOW, such a large collection of OneCoin Cool-Aid drinkers!!

Gate-crashing a OneCoin event https://www.reddit.com/r/Bitcoin/comments/520935/gatecrashing_a_onecoin_event/

Swedish Bitcoin Foundation cautions users against OneCoin  http://www.econotimes.com/Swedish-Bitcoin-Foundation-cautions-users-against-OneCoin-286078

OneCoin under consumer protection investigation in Poland, new bank http://behindmlm.com/companies/onecoin/onecoin-under-consumer-protection-investigation-in-poland-new-bank/

The stolen deceased identity used to promote OneCoin http://behindmlm.com/companies/onecoin/stolen-deceased-identity-used-to-promote-onecoin/

Top investor claims OneCoin “is purely just a financial company” http://behindmlm.com/companies/onecoin/top-investor-claims-onecoin-is-purely-just-a-financial-company/

FCA cautions against trading with virtual currency OneCoin http://www.professionaladviser.com/professional-adviser/news/2472074/fca-cautions-against-trading-with-virtual-currency-onecoin

FCA Warns against OneCoin as London Police Starts Investigation http://www.newsbtc.com/2016/09/28/fca-warning-london-police-investigates/

OneCoin declared just $3.8 million in revenue last year http://behindmlm.com/companies/onecoin/onecoin-declared-just-3-8-million-in-revenue-last-year/

OneCoin Responds to FCA Warning and Police Investigation http://www.newsbtc.com/2016/09/29/onecoin-responds-to-fca-warning-and-police-investigation/

OneCoin serve to cease and desist to a journalist over Ponzi claims http://behindmlm.com/companies/onecoin/onecoin-serve-cease-and-desist-to-journalist-over-ponzi-claims/

OneCoin buys WeShare Crowdfunding cash gifting scheme http://behindmlm.com/companies/onecoin/onecoin-buys-weshare-crowdfunding-cash-gifting-scheme/

UK Financial Conduct Authority Issues Warning Against OneCoin  https://cointelegraph.com/news/uk-financial-conduct-authority-issues-warning-against-onecoin

Seven months after I expose crypto-currency OneCoin, police move in. http://www.mirror.co.uk/news/uk-news/seven-months-after-expose-crypto-8933566

Industry Report: Authorities Warn Against OneCoin, Likely Scam  http://bitcoinist.net/industry-report-onecoin-scam/

Please help shut down another OneCoin scam meetup https://www.reddit.com/r/Bitcoin/comments/553qc7/please_help_shut_down_another_onecoin_scam_meetup/

Dr. Don

OneCoin Launches New Blockchain Appoints Pablo Munoz As CEO https://www.businessforhome.org/2016/10/onecoin-launches-new-blockchain/

Dr. Don

OneCoin is now bigger than Bitcoin, according to OneCoin. https://www.reddit.com/r/Bitcoin/comments/55e0dd/onecoin_is_now_bigger_than_bitcoin_according_to/

Dr. Don

Dr Ruja Flees Sinking Ship As Regulators Crack Down on OneCoin It looks like OneCoin CEO Dr. Ruja is feeling the heat from law enforcement and regulators. Earlier today, she announced she steps down as the CEO of OneCoin, and wants to focus her full attention on the “new blockchain” they are developing. A new CEO has already been appointed, although all signs point towards the demise of this massive Ponzi Scheme.  http://themerkle.com/dr-ruja-flees-sinking-ship-as-regulators-crack-down-on-onecoin/

Dr. Don

My god, How can we stop ONECOIN? https://www.reddit.com/r/Bitcoin/comments/55m8fm/my_god_how_can_we_stop_onecoin

Dr. Don

Coin Leaders Review: DasCoin is a OneCoin Ponzi points clone  http://behindmlm.com/mlm-reviews/coin-leaders-review-dascoin-is-a-onecoin-ponzi-points-clone/

Dr. Don

Coin Leaders Review: DasCoin is a OneCoin Ponzi points clone  http://behindmlm.com/mlm-reviews/coin-leaders-review-dascoin-is-a-onecoin-ponzi-points-clone/

Dr. Don

Bitcoin Uncensored 49: A New Blockchain Deity, “Guh-neesis”  http://bitcoinist.net/bitcoin-uncensored-guh-neesis/

Dr. Don

Norwegian regulator receives “no ” from OneCoin http://behindmlm.com/companies/onecoin/norwegian-regulator-receives-no–from-onecoin/

Dr. Don

Top Earner David Imonitie Joins OneCoin – OneLife Network https://www.businessforhome.org/2016/10/top-earner-david-imonitie-joins-onecoin-onelife-network/

Dr. Don

Keep Money in the Game: OneCoin Moves On To New Fantasy Blockchain  https://cointelegraph.com/news/keep-money-in-the-game-onecoin-moves-on-to-new-fantasy-blockchain

Dr. Don

OneCoin lose Italian bank account, open one up in Hong Kong http://behindmlm.com/companies/onecoin/onecoin-lose-italian-bank-account-open-one-up-in-hong-kong/

Dr. Don

Bruce Fenton: Onecoin Has No Value, When It Collapses, Regulators Will Blame All Cryptocurrencies https://cointelegraph.com/news/bruce-fenton-onecoin-has-no-value-when-it-collapses-regulators-will-blame-all-cryptocurrencies

Dr. Don

OneCoin’s market cap is now over double the market cap of Bitcoin, according to OneCoin. https://www.reddit.com/r/Bitcoin/comments/56le2i/onecoins_marketcap_is_now_over_double_the/

Dr Don

The Ads Team Review: OneCoin scammers launch new Ponzi scheme  http://behindmlm.com/mlm-reviews/the-ads-team-review-onecoin-scammers-launch-new-ponzi-scheme/

Dr Don

Is OneCoin’s merchant app a €399 white-label platform? http://behindmlm.com/companies/onecoin/is-onecoins-merchant-app-a-e399-white-label-platform/

Dr. Don

Regulator confirms OneCoin is fraudulent as per Chinese law http://behindmlm.com/companies/onecoin/regulator-confirms-onecoin-is-fraudulent-as-per-chinese-law/

Dr. Don

Massimo Del Moro – OneCoin Achieves $210,000 Per Month https://www.businessforhome.org/2016/10/massimo-del-moro-onecoin-achieves-210000-per-month/

Dr. Don

Who is Li Dexin to OneCoin?  http://behindmlm.com/companies/onecoin/who-is-li-dexin-to-onecoin/

Dr. Don

OneCoin investment packages approach a quarter-million Euros http://behindmlm.com/companies/onecoin/onecoin-investment-packages-approach-a-quarter-million-euros/

Dr. Don

OneCoin cannot be used as a payment method by merchants until 2018 http://behindmlm.com/companies/onecoin/onecoin-cannot-be-used-as-payment-method-by-merchants-until-2018/

Dr. Don

OneCoin lose Hong Kong bank account in 2 weeks http://behindmlm.com/companies/onecoin/onecoin-lose-hong-kong-bank-account-in-2-weeks/

Dr. Don

OneCoin is not a Ponzi scheme according to Tom McMurrain who service 5 years in prison for loan fraud. https://www.reddit.com/r/Bitcoin/comments/58hz67/onecoin_is_not_a_ponzi_scheme_according_to/ https://youtu.be/6umjkR3bmO8

Dr. Don

OneCoin payment delays triggered by Hong Kong account closure http://behindmlm.com/companies/onecoin/onecoin-payment-delays-triggered-by-hong-kong-account-closure/

Dr. Don

My War Against OneCoin. Angelina Lazar Tells It All. Part 1  https://cointelegraph.com/news/my-war-against-onecoin-angelina-lazar-tells-it-all-part-1

Dr. Don

com Owner Roger Ver Re-Echos OneCoin’s Scam Accusations https://cointelegraph.com/news/bitcoincom-owner-roger-ver-re-echos-onecoins-scam

Dr. Don

Esteban Merizalde – OneCoin Onelife Network Achieves $ 120,000 Per Month https://www.businessforhome.org/2016/10/esteban-merizalde-onecoin-onelife-network-achieves-120000-per-month/

Craig

 https://youtu.be/DOzKeGCdu5A

I see you’re putting a lot of time and effort to write bs about onecoin.. 2.5 million members says it all

Chang Lee

 https://www.change.org/p/london-house-of-commons-imprison-ruja-ignatova-of-onelife-along-with-her-co-mobsters?source_location=discover_feed

Dr. Don

I have checked the link. Thanks

Craig

GREAT OFFICIAL NEWS OUT OF POLAND !!

If You want to keep reading the negative bloggers who are just telling lies and selling advertisement space that is your choice. Please let us educate you on the truth and facts of the OneLife/OneCoin story. I would suggest that you should be paying attention to governments and actual boards who have the real authority and are conducting real research into this business.

Here the source and article that shows you this proof. That OneCoin is now cleared of any assumptions that its is a Ponzi or a Scam and is, in FACT, a full working cryptocurrency.
 http://www.sejm.gov.pl/Sejm8.nsf/InterpelacjaTresc.xsp?key=70AA9084
(open in Chrome to translate to English)

The Jist of the article is ,
Poland the Country finds no reason or grounds to pursue a referral to the prosecutor notice of suspicion of committing a crime…
This is just another COUNTRY and one of many that have now proved the company is LEGAL & COMPLIANT and what they say they are!!
If you want to keep assuming those Penny Chasing Parasites (BLOGGERS) on google are smarter then Countries, Governments & millions of people all over the world. please do so and do not come to me with any rubbish made up lies and stories selling advertising space anymore!!
This is the truth.
OneLife is a real genuine Cryptocurrency and they have a full working PRIVATE Blockchain.
You may not believe it but if Countries are holding full investigations and they keep finding nothing wrong OR ILLEGALand this company has been cleared on many occasions now, do you not think you should adjust your thinking slightly and start seeing how this is actually happening.?
When Bitcoin started for 3 years was deemed a scam, So was PayPal and just because it is not like every other Cryptocurrency out there and is doing something different, people deem it bad.
That is because they do not understand the business model and how it works. Well did you know it was the fastest company ever to hit a BILLION in revenue??
Microsoft took 9 years
Apple took 7
Groupon took 2 years & 8 Months to achieve a Billion in revenue.
OneLife took just TEN months.
Now a $6.5 BILLION company in under 2 years.

No company has ever achieved this before and is the fastest-growing company on the planet right now!!
Not every cryptocurrency has to follow the Bitcoin code. You can do things differently and when you have a woman who is a master in Finance, Law, and Cryptocurrency I think she knows what she is doing.
OneLife has chosen to stay private and there is no LAW to say you have to create a cryptocurrency and take it public on day one. In fact, the currencies that do that are worthless most cases valued at $0.0002 a coin.

If you ask me, in my opinion, I would rather have a private coin any day. Let the company build the value, build the community and change the world with a coin that will have the fastest Blockchain on the market with 1 Minute processing times and will make Bitcoin Blockchain looks old and dated.

It is a fact that bitcoin blockchain can only handle as many transactions in a year as what Visa & Mastercard can do in a day. Well Now comes along a Blockchain that will be able to handle even more than Visa & Mastercard can altogether.
This really is one of the biggest Cryptocurrencies out there, with a full audit, every MONTH, fully complaint in over 200 countries with many countries investigated us now and not 1 country says we are Illegal or a scam.

The choice is yours who do you want to believe??

The time to act now comes to take your personalized presentation and learn event more true facts and figures on this life changing business that will change the way we use and transact money forever!!

Says it all. Plus she is coming to get all you negative bs bloggers and take you to court.

Craig

Just shows you that you are that sad and put a lot of time and effort into this site to spread lies and bullshit

Very very very sad

Sellalift

What’s sad is that you believe the OneCoin lies. Many of these “members” are simply victims of previous scams being bought out by OneCoin. Well done on the copy-paste job(!) If you bothered to read beyond the 2nd paragraph, you’ll see that OneCoin has *not* been cleared.

Craig

You have the nerve to place a donate button and ask for money. Get a real job because you can’t blog real news

Dr. Don, I see that you are a Spammer

IMAGE: Steemit  OneCoin is a Scam!

Thanks, for Reading “ICFO Archive: OneCoin Ponzi Scheme 6 [Video]”

Dr. Don Yates Sr Ph.D., Founder

Dr. Don ICFO
Dr. Don ICFO

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