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I had a European girlfriend at the time, (I’m an American and we were both in America) her sister was exposed to onecoin and was her sisters sole exposure to bl

I had a European girlfriend at the time, (I’m an American and we were both in America) her sister was exposed to onecoin and was her sisters sole exposure to blockchain ideology. So I asked her to forward the marketing materials to me, and oh my god, it is not possible to discern the problems wrong with it without formal education in both computer science like linked lists and initial exposure to real blockchains. Its doesn’t matter that the first question to ask was “ok where is the block explorer and what consensus model does it use” because nobody exposed to onecoin first would ask that The other thing, which I find much funnier, is that they become not fraudulent just by launching a token on an existing blockchain or deploying their own, and that’s all they had to do but didn’t.

spuz 5y ago
Did you convince your girlfriend's sister that it was a scam?
- vmception 5y ago
  She didnt put money into it. But she was just as excited about blockchain ideology as I was and I would just be the second prophet she was exposed to. It is impossible to discern the difference when religious-like ideology has already occupied that register in your brain.
pjc50 5y ago
> that they become not fraudulent just by launching a token on an existing blockchain or deploying their own, and that’s all they had to do but didn’t I submit that that would not be enough to make it not fraudulent. > ok where is the block explorer and what consensus model does it use” because nobody exposed to onecoin first would ask that Doesn't matter. What matters is who's shilling and how effective they are. Like Elon and Bitcoin.
- vmception 5y ago
  > I submit that that would not be enough to make it not fraudulent. It would still be a rip-off for purchasers, but it would have reduced their legal liability to nothing in the various countries involved. Then they could just squirm around securities laws based on how they marketed it, like everyone else.
lph 5y ago
> I am sure this cryptoqueen scammer put a ridiculous amount of effort into her scam when these people who actually made absurd amounts of money legally in altcoins did far less work. Right?! All they had to do is fork an open-source cryptocurrency, and they couldn't even do that. It's hilarious. With the hype empire OneCoin controlled, it's quite possible that it could have astro-turfed its way to a bubble like those of bitcoin or dogecoin.

spuz 5y ago

Did you convince your girlfriend's sister that it was a scam?

vmception 5y ago
She didnt put money into it. But she was just as excited about blockchain ideology as I was and I would just be the second prophet she was exposed to. It is impossible to discern the difference when religious-like ideology has already occupied that register in your brain.

pjc50 5y ago

> that they become not fraudulent just by launching a token on an existing blockchain or deploying their own, and that’s all they had to do but didn’t I submit that that would not be enough to make it not fraudulent. > ok where is the block explorer and what consensus model does it use” because nobody exposed to onecoin first would ask that Doesn't matter. What matters is who's shilling and how effective they are. Like Elon and Bitcoin.

vmception 5y ago
> I submit that that would not be enough to make it not fraudulent. It would still be a rip-off for purchasers, but it would have reduced their legal liability to nothing in the various countries involved. Then they could just squirm around securities laws based on how they marketed it, like everyone else.

lph 5y ago

> I am sure this cryptoqueen scammer put a ridiculous amount of effort into her scam when these people who actually made absurd amounts of money legally in altcoins did far less work. Right?! All they had to do is fork an open-source cryptocurrency, and they couldn't even do that. It's hilarious. With the hype empire OneCoin controlled, it's quite possible that it could have astro-turfed its way to a bubble like those of bitcoin or dogecoin.