The Non-scammer scam (part 1)

       January 2015,a company labeled with the name of ‘Onecoin’ had entered the cryptocurrency world from the narrowest door by issuing tokens with no real value in the market but with the promise to build a large business that accept those tokens before it will be listed publically ,3 years later the same company has gathered more than 3.5 millions active members from more than 194 countries and had established an e-commerce platform where you can buy goods with the ONE token or with the ONE-euro combined .At the moment you can buy books, electronic devices, food, book a hotel and among other things,…There was lately a forum that was hosted in Bucharest Romania where an entire residential bloc was sold using the ONE token. Until now all is good , A company still in the ICO stage with the promise to be made public on the 8 October of this year so why all of this drama and media attack on this company.

They don’t have a blockchain

       I’m sorry but this used to be a valid argument, if you are a newbie to the cryptocurrency world a blockchain may sound like a big thing to do but let me tell you the wheel is already been created you don’t need to repeat the same process ,for those of you who never heard of ethereum it is a blockchain based platform where you can build your platform on top of it using their scalability as if you were the creator of it .so if a company is planning to build a blockchain from scratch they need to keep in mind that the ethereum is 10 steps ahead .even our beloved steemit is a blockchain based platform where you can build on top of it. So all it takes to run a blockchain is a couple of nodes that they can assure the sustainability of the network and to have a team of developers to keep it up and running in our case it is handled by the onelife company so there is no public mining and no bloc rewards which exclude the possibility of a 51% attack on the network like what happened recently to the XVG(verge).

It is a ponzi scheme

       This is when things get a little bit heavier because as you may heard besides of being a startup in an ico phase the onelife is actually a network marketing company that offers an affiliation program for all its members from a 10% of direct sells for the 1st generation up to 25% of the 4th generation for some packages.so the reason it is called a scam by some people is due to the fact that (there is no physical product) but this statement is actually right and wrong at the same time it is right because obviously we are not selling cosmetic products or food or anything that may be consumable however on the paper it is stated clearly that onelife is a company that sells educational package for finance and trading that comes with an award in the form of tokens .

      As you can see from the picture these are the different packages that they offer! Well obviously you will tell me those are big numbers for a bunch of electronic books well just think about how genius this idea is because if the packages contains only the tokens which right now their market share is equal to 0€ this in the eyes of the authorities is a fraud and they will run on some big troubles if they run to court .so instead they offer financial courses(which by the way are just outstanding) I know that they don’t worth all of this money but you get my point and people who buys those packages are looking for the tokens that worth nothing and they believe that they will have a bright future and I will walk you through why you should believe that too.

      For 3 years now, the onelife company has given the opportunity to some talented leaders to rise and to make the wealth they have always dreamt about because of the affiliation program that reward you with the work you’ve done and nothing else and those rewards were generated every week even when the company was suffering from some false claims and some warrant because as you may have heard the onlife offices in Bulgaria were raided in January of this year because of and international warrant issued by the Germany government claiming that the money that onelife has accumulated is used to fund terrorists and some counterfeit money operations around the world, well let me tell you that the whole onelife community was aware of those claims and the company was transparent about the situation.

This is an extract from the official press releases on the same date where the onelife offices were raided in Bulgaria.

60 billion coin with 25€ each who are you kidding?

      The thing that make the onelife project unique is that it has a long term vision,a vision that surpass the current financial system but at the same time it separates them from the roadmap of the majority of cryptocurrencies not only because it is centralized and not private (transactions require the identity of the sender and receiver already verified and implemented on the onecoin blockchain) but it will not be handy for speculators and the high volatility of the current market which make it hard to use cryptocurrencies in everyday transactions .and that’s when things gets interesting because one of the reason that this ico has taken so long is that it is not just a cryptocurrency it is a whole ecosystem that aims to revolutionize the way transactions are handled across borders and to allow an indian worker in the U.S to send his wife in india some money in a cheaper safe and to offer stability to the coins he is sending because when it comes to money and transactions they are still handled the way they were handled in the 2nd world war nothing has changed even with cryptocurrencies you still cannot buy something expensive with confidence with a coin that its value change in average 10% everyday.

       So, Let’s talk numbers :the number of onecoin that will be mined up to the date of 8 October of this year is 60 Billion onecoin (Billion with a B) with the price of 25€ each so that will put the market cap of onecoin approximately at 25*60.000.000.000=1.5 trillion € 😬🙄😶 at this stage you may think I’m crazy this is 4 times the market cap of all cryptocurrencies combined but there is a logic behind this number and I will provide you with the details .at the time of writing of this article the market cap is sitting at 256 billion € but that doesn’t mean that 256 billion was submitted to the market but theoretically it has a 1:50 ratio meaning that for every 50 € in the market cap there is only one real euro that was submitted but with the persistence of buyers “demand” we arrived at this stage .so let’s project this fact on the onecoin situation for a market cap of 1.5 trillion € onecoin needs to raise 30 billion € in its initial coin offering (that’s a more reasonable number but still can they achieved it?)the answer is yes.for an ico that has been up and running for 3 years with the total of 3.5 million package purchased and the average price of the package is 5500€ well you do the math in addition to some big investors who contributed to the project and bitcoin being accepted as a way of payment since it was sitting at 400$ those are all factors that show that a 30 billion € to be raised is not a magical thing but from where the demand will come for this 30 to be transformed to a trillion and a half that’s what the next article will talk about :

To be continued……