Hey everyone, I just dropped into the studio real quick and a couple guys asked me about OneCoin
This is going to be a controversial subject because there’s a lot of people that are die-hard, totally believe OneCoin is going to make them rich. Then there is another side of the spectrum where people believe OneCoin is a complete scam and Ponzi Scheme.
First of all, OneCoin and Bitcoin are totally different.
If you are investing in OneCoin I would be very concerned. Let me list some facts that cause concern for me:
I’ve spoken to people at a high level in the organization because a journalist reached out to me wanting my opinion and feedback on OneCoin. While talking to these people, unfortunately they weren’t able to answer my questions to my satisfaction.
My questions were specific like “where is OneCoin traded?”, “where is the exchange?”, and they would show me the exchange, but there is no order book and you can’t see any orders in the order book. The exchange is not a true exchange. It’s not really an open market.
What I discovered is that there is no open market for OneCoin. There is no open place where people establish the value based on supply and demand. The value is established by one company, OneCoin.
Their cryptocurrency code is not open source, but it’s centrally controlled by them.