4 ms·

The name couldn’t sound more like a scam if they tried. There was OneCoin, a $4 billion Ponzi whose leader is on FBI’s Most Wanted list: https://en.wikipedia.

by pavlov 3y ago

The name couldn’t sound more like a scam if they tried. There was OneCoin, a $4 billion Ponzi whose leader is on FBI’s Most Wanted list: https://en.wikipedia.org/wiki/OneCoin https://en.wikipedia.org/wiki/OneCoin (IMHO it’s bizarre that OneCoin never bothered to actually deploy a cryptocurrency. If they had done that and then manipulated its price, they would be just like every other useless cryptocoin and the bag holders would be licking their wounds quietly. The end result would be the same as a plain Ponzi but the FBI would never have been involved because token-utility-innovation-something-something.)

haasted 3y ago
On top of that, there's the Worldcom scandal. https://en.wikipedia.org/wiki/WorldCom_scandal https://en.wikipedia.org/wiki/WorldCom_scandal
- hef19898 3y ago
  Is the name onecom already taken? I so want to use it for my, never to be launched, start-up!
  - haasted 3y ago
    Well, there's one.com, which I believe is a fairly honest hosting provider.
    - hef19898 3y ago
      onecom.com has a nice ring to it, too, doesn't it? Added benefit of looking like a scam-rip-off for one.com!
      - pavlov 3y ago
        There’s a .world TLD, so you could collect them all with one.comcoin.world
        hef19898 3y ago
        Honestly, I would go and reserve that domain if I were you! That thing only can go to the moon!
    - jeltz 3y ago
      Yeah, I have talked to some people who work there and as far as I can tell they seem like a pretty legit company.
trompetenaccoun 3y ago
They didn't have the technical expertise. Ignatova is a lawyer and the other guy had a business/finance degree I think. This was before the days when anyone could just set up a simple ERC-20 token contract with the help of tools, Ethereum didn't even exist back then. They tried to recruit a blockchain expert to built them a chain after they'd already started the ponzi but apparently didn't find anyone who was willing to work with them (for maybe obvious reasons).
- pavlov 3y ago
  I guess they were being too cheap with the offers made to the prospective developers. European business people tend to assume that you can hire any kind of software developer for 3000 euros / month. The history of web3 shows that, if the money is right, competent people will put all their qualms aside and do the work to enable the blockchain rip-offs. OneCoin should have offered 10 million to the developer because they could have afforded it. Then they wouldn’t be hunted by FBI, and $ONE would be just another forgotten altcoin that gets occasionally pumped up on Telegram channels.

by pavlov 3y ago

haasted 3y ago

On top of that, there's the Worldcom scandal. https://en.wikipedia.org/wiki/WorldCom_scandal https://en.wikipedia.org/wiki/WorldCom_scandal

hef19898 3y ago
Is the name onecom already taken? I so want to use it for my, never to be launched, start-up!
- haasted 3y ago
  Well, there's one.com, which I believe is a fairly honest hosting provider.
  - hef19898 3y ago
    onecom.com has a nice ring to it, too, doesn't it? Added benefit of looking like a scam-rip-off for one.com!
    - pavlov 3y ago
      There’s a .world TLD, so you could collect them all with one.comcoin.world
      - hef19898 3y ago
        Honestly, I would go and reserve that domain if I were you! That thing only can go to the moon!
  - jeltz 3y ago
    Yeah, I have talked to some people who work there and as far as I can tell they seem like a pretty legit company.

trompetenaccoun 3y ago

They didn't have the technical expertise. Ignatova is a lawyer and the other guy had a business/finance degree I think. This was before the days when anyone could just set up a simple ERC-20 token contract with the help of tools, Ethereum didn't even exist back then. They tried to recruit a blockchain expert to built them a chain after they'd already started the ponzi but apparently didn't find anyone who was willing to work with them (for maybe obvious reasons).

pavlov 3y ago
I guess they were being too cheap with the offers made to the prospective developers. European business people tend to assume that you can hire any kind of software developer for 3000 euros / month. The history of web3 shows that, if the money is right, competent people will put all their qualms aside and do the work to enable the blockchain rip-offs. OneCoin should have offered 10 million to the developer because they could have afforded it. Then they wouldn’t be hunted by FBI, and $ONE would be just another forgotten altcoin that gets occasionally pumped up on Telegram channels.