Crypto Investing #34 – Is Onecoin A Scam? YES It Is!

What’s up guys, this is Tai Zen again, I’m still on the road trip guys. I was looking at some of the comments on my youtube channel and somebody asked me, a few people have asked me this already.

So if I got several people asking me the same thing, I’m going to assume that there’s some confusion about it. So there are some questions about my thoughts on Onecoin and I’m referring to the site Onecoin.eu .E as in echo U in uniform. The one coin, one as in number one, and in coin as in Bitcoin.

So there’s a coin that’s out on the market right now call Onecoin.edu. It’s supposedly being invented by Dr.Ruja Ignatova from the country of Bulgaria.

Now here’s I want to give you guys a little bit of background because this shit cracks me up. This stuff cracks me up. It was just a matter of time before somebody comes out with some bullshit scammy coin. That is so obvious to me.

So let me give you guys a little bit of background about this. So my friend, my fellow investing buddy, Eric Gerber that you guys here on some of the videos that we make. He’s another, you know, Crypto investor on our team and you guys may not know this but he and I grew up and we were always looking for ways to make money.

So he and I tried all kinds of ways to make money and one of the ways that we try to make money was through what’s called multilevel marketing or you might have heard it as MLM for short stands for multilevel marketing.

Some people call it network marketing. And I’ll tell you what, Eric and I have tried out several different ones, you know, from Amway, Kwik Star. I mean, there’s so many of them that we do is just garbage. Don’t ever waste your time and those electricity ones with there’s an energy one MLM. I forget the name of it is. It was in Texas. They are garbage guys, all the MLM, there are lots of ways to make money. MLMs are not one of them. We have tried and we have worked our ass off and nothing happens. So do not waste your time with any stupid MLMs.

Anytime that they want to sit down and show you an opportunity, you know it’s an MLM. And you know, it’s a network marketing multilevel marketing. If they’re trying to, you know, get you to believe in that there’s an opportunity to make money, it’s an MLM.

So with me and Eric, we have like very sensitive radar when it comes out. So when it comes to multilevel marketing bullshit schemes. So the first time I heard about Onecoin and when looked at him and I swear to God it took me about 30 seconds to recognize that it’s a bullshit MLM and multilevel marketing scheme.

The way that multilevel marketing schemes work is that you recruit people and you make them pay a fee. And then let’s say that I go and recruit you and you come in and you pay $100 to join the MLM though the network.

And then your job is to go out there and recruit 10 or 20 or a hundred more people in each of them to pay you a hundred and then you take that 100 and you play a piece of it to me.

And then I paid to the upline. So they have an upline and downline, the upline or the people who recruited you that’s above you and the download of the people that you recruited below you. It has nothing to do with the product and it has nothing to do with the service that they’re providing.

Most MLMs, matter of fact, every MLM I’ve ever done tried to do, you know, it has tried to sell you something that you can easily buy at the convenient store at a Walmart or at your typical, you know, your regular stores, your brick, and mortar stores. So the fact that they have to sell it from one person to another, that is the first red flag. So they try to sell you some makeup or some shampoo or some toilet paper or something. The first question that you want to ask is why can’t you just buy this at the Walmart

Why do I need to buy it from you? You’re supposed to be my friend. You supposed to be my coworker. You’re supposed to be my neighbor. Why am I buying it from you for when I can just go to Walmart and buy it?

And they’ll tell you all this is green is organic or a bunch of bullshit. Okay, guys, it’s bullshit. All the MLMs that we’ve ever done and been that we’ve known of, that we’ve people are trying to recruit, it has all been bs.

I have not seen 1 MLM yet and I’ve not met 1 MLM person that made money. That’s another thing too is that you know, if you made money, you know you wouldn’t, I mean it’s just, it’s just a bunch of bs guys. So it took me about 30 seconds to look at the Onecoin stuff.

There are videos there, a biography there about us and everything, and my MLM radar, the bullshit radar went off. So if you have any questions about Onecoin, that is going to be the first official bullshit scam coin that I’m going to call out on this channel guys. Do not invest in one coin. It’s a bunch of BS. It’s a bunch of coins that I talk about on my channel that you know, some of them seem risky, some of them sounded like garbage. You know, I still in this into it, you know some of the crappy ones, cause you never know which one’s going to hit.

But when something is an MLM, that’s not a coin. That’s just a multilevel marketing scheme. If you look at their website on their homepage, they sell packages, education packages from € 110, € 110 all the way up to € 27,500

That’s a whole bucket load of money in US dollars. That’s all we have to almost $30,000 for their packages to teach you how to, I don’t know what it is, some financial education stuff.

Now, if they were a financial education school or company and they say that they were teaching people how to invest in Cryptocurrencies, I don’t mind about that. For example, like me and my team, we are in the process of working on a Cryptocurrency investment program to teach people how to invest and how to trade Cryptocurrencies.

So I’m very upfront about that. I’m telling you guys that we’ve been working on it diligently but the Cryptocurrency market has been changing so fast that it’s hard for us to keep up because as soon as we create the content for it, it becomes irrelevant. So their stuff, so Dan, we’re trying to figure out, what stuff can we create, the content that we create from the mistakes that we made but we can share that’s relevant so that’s evergreen.

And then we’ll just leave the stuff that keeps changing every week. Every month. We’ll leave that and we’ll just update the people as we go along. But we are very clear about it that we are an education channel. We teach people simply how to invest and profit from the Cryptocurrency boom and the Cryptocurrency market.

So we were very clear about that. We are not trying to recruit people. We’re just, you know, we have education DVDs, videos and things like that when they’re done producing. I’ll let you guys know. But we’re very clear. We’re not trying to recruit, no people are or nothing. We’re just sharing our experience of mistakes that we made on a video, on a DVD, and then sharing with other people. And we’re going to put together books and training manuals on it.

But we are very clear about that. We’re not coming off as we invented a new coin on their website. They claim on their, the research I did, the one coin people, they claim that this is the second, you know, that it’s going to overcome Bitcoin.

No, you ain’t gonna overcome Bitcoin. Bitcoin is worth over $6 billion on a common market cap, There’s no coin that’s even close at not even Ethereum. There are no coins right now that’s close to Bitcoin.

So when you said that you’re better than Bitcoin, let me see you buy some gold with it. Let me see somebody give you an airplane ticket. Let me see somebody give you some gold coins, silver coins and an AK 47 or a AR 15 or ounces of drugs for it. When it meets those criteria, then that, and then I know that that’s a real currency, but when you’re trying to recruit people and you’re making them pay you, you know, € 27,000 for it, that’s not a coin.

All the coins that you, if you guys notice all the coins that I talk about on my channel. It has a purpose. It has a real-world utilitarian purpose or a problem that it’s trying to solve. When you look at the Onecoin, they ain’t trying to solve no problem. They’re trying to make money off of you by recruiting you to join their programs.

So to me, that’s a, if now if they tell, if they market themselves as multilevel marketing then I would not call it a scam. I would just say, hey man, it’s multilevel marketing. I have not been able to make money from it. My friend Eric has not been able to make money from it. I don’t know of anybody that’s been able to make money from it and I used to go to these MLM meetings all the time and there’ll be thousands, hundreds and thousands of people there and I don’t know of anybody who’s making money, they all claim it, but let me see you back it up. Let me see you buy me a burger or something or a soda or a beer or something or Tesla

When you ran around in a Tesla or Maserati like LeonFu.com does, that lets me know that you’re making money from the Cryptocurrencies that you’re talking about. So that’s the reason why we call him the Oracle of Cryptocurrencies because we personally know him and I have personally seen the coins that he’s bought. He has shown it to me and he’s personally bought some to get me started. So if he wasn’t making money, he wouldn’t be able to do those things and we wouldn’t be calling in the Oracle of Cryptocurrencies.

So there you go, guys. I don’t want you guys to get scammed. You know, there’s going to be coins that I talk about where we make money off of it and there are coins that I talked about where we lose money on it. You know, it was not a good decision, but at the end of the day, I don’t think any of them are real scams. I just think that you know, they just could not accomplish what they, they raised the money to do.

So there’s a lot of times when you know, 90% of businesses fail in the US so it wouldn’t surprise me if 90% of the Cryptocurrencies that I invest in a fail. However, all it takes is one or two of them to succeed, as the Ethereum and boom, you make all your money back. So it doesn’t matter to me. I’m willing to take that risk to get that gigantic reward.

So there you go, guys. That’s the information I have on Onecoin. I will clearly state and officially state and do not recommend that anybody that’s listening to my channel recommend or even waste time looking at Oneecoin because they not being truthful and what they do. If they are an education site like our site then state that you are an education side trying to teach and you sell education programs to teach people how to invest in Cryptocurrencies.

There’s nothing wrong with that but say so. Don’t come off and call yourself Onecoin and tell people that you have the best Cryptocurrency, you know, that’s even better than Bitcoin. And then it’s not even a coin. And then you’re selling, you know, I don’t know what these bs packages, bullshit packages that you’re selling. So if you’re an education site, be clear that you are an education site.

If you are a multilevel marketing site, be clear that you are a multilevel marketing site. Do not claim that you are a coin when you are not a coin. Just because your mind and you pre-mine or mine the coin, that means absolutely nothing

So painful watching these video guys, I hope that this video protects you and others out there from being stabbed by this Onecoin bullshit. So give me a thumbs up to you guys like this video. Give me a thumbs down you guys don’t like it.

And if you happen to come from the one coin community and you give me bad comments, you better have some facts and evidence to back it up because if you don’t, more than likely your comments will get deleted, I’m all for equal opportunity comments and I believe in the first amendment. Is that the First Amendment free speech

Tai Zen: My multilevel marketing radar is very sensitive when I spot, you know, multilevel marketing schemes. The problem with multilevel marketing schemes, as they always say, they’re not multilevel marketing schemes.

So when you hear them say that, hey, we are not a multilevel marketing scheme. More than likely it is. Otherwise, they wouldn’t say that because you don’t ever hear the guys from Ethereum, the guys on the Lisk.io, the guys from the waste platform, the guys from digits gold. You don’t ever hear any of these guys ever referred, use the word multilevel marketing in their description on their website or anything and you don’t ever hear anybody talk about them and refer to them as a whole-time level marketing scheme.

The fact that when you type in Onecoin and there’s thousands and hundreds of web pages out there that say that it’s a multilevel marketing scheme. That lets you know more than likely it’s a multilevel marketing scheme. And based on my past experience, I clearly proclaim that they are a multilevel marketing scheme. So speaking of Walmart, there’s a Walmart. We are at Mississippi right now.

So, all right guys, thanks for watching this video guys. And if you guys have some friends or family that you don’t want to get hustled or scammed or lose their money, you know by risking into bullshit coins, make sure that you share this channel with them. And I’ll share with you guys you know, mistakes and the lessons that we’ve learned for them investing in Cryptocurrencies and for the last few years. So thanks for watching these video guys, and I’ll see you guys in the future of video.

 

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