The Onecoin Scam is trying to land in Ireland

It seems that the Onecoin has been trying to find it's way to Ireland, but so far without raising any public alarms. The CoinTelegraph presented the Onecoin as a Ponzi Scheme already last year, and it should be very easy to find through Google. That might be the reason why clever people have not shown that much of an interest towards this "New Bitcoin" as the Onecoiners like to call it.

So far it seems that a group, or an individual going with the name Onecoin Polska (Link to Facebook), has been promoting an event held at Fitzgerald Hotel on the 16th of February. According to their Facebook event 45 FB users were invited but zero people showed any interest into it.

This will not probably end here and that is why the public should be made aware of Onecoin, and how it is manipulating people to give money to their owners.

I've made a few pointers that a potential victim should be aware of, but before that I'll quickly explain what is a Ponzi Scheme. Ponzi Scheme is a scam where people are asked to invest their money for something that will bring great return on the investment, and promises are usually in epic proportions. It could be something like "double your money in six months" or something similar.

Onecoin recruiters are not afraid to use Bitcoin as an example. They will explain that Bitcoin's worth was 10 cents a coin at the beginning, and then it skyrocketed to thousand dollars. First of all, there are hundreds of crypto currencies available, and Bitcoin is the only one which market value has climbed so high so fast. If you take a look at coinmarketcap's list of crypto currencies. Secondly, you don't find Onecoin on that list. Thirdly Onecoin is not a crypto currency.

Recruiters might try to explain that Onecoin is as much a crypto currency as bitcoin is, and that they use improved block chains. Block chains is a technology describing how the virtual ledger can be validated, and how it can be made sure that nobody tries forgery. As all the information is shared inside the network, it is important to put complex cryptography in place. Onecoin, on the other hand, claims to use block chains even though they don't have any need for that. All the onecoins are located on Onecoins servers and there is no need for block chains. They will try to explain that their own computers will do "the mining" (confirming that all the transactions are legit, and that there are no conflicts in the database).

Be warned, and when confronted about Onecoin, please do your research. They might be telling you that internet is full of lies (which is true), and you should trust themselves for accurate information (which is not true). If you feel conflicted about their promises that you will be rich, and all the warning signs that internet is full of. Do yourself a favour, and do your research.

For the dessert. Here is one of those warning signs from the "Behind MLM" which has consistently reported ill-doings of the Onecoin. Also, please find a video below, where a true believer of Onecoin diss this report. This is the kind of language that they use, and they might be very aggressive in manipulating you to believe that everything else is a lie except what they tell you.