The world of Bitcoin and the digital currency has seen its fair share of scams, Ponzi schemes, and MLM pyramids in recent years. Just a few months ago, HYIP’s seemed to be the “next big thing” in terms of dodgy Bitcoin schemes, but it looks like a certain altcoin is trying the old MLM game once again. OneCoin claims to be a bit of everything, while, in fact, they seem to be selling nothing but hot air.
OneCoin – A Powerful Opportunity (Or Not?)
For those among us who have been using the internet for quite some time now, the saying “If it sounds too good to be true, it usually is” has been applicable on more than one occasion. In the case of OneCoin, that same saying comes to mind immediately, because the first sentence on their “Opportunity” page states: “OneCoin provides a once in a lifetime opportunity.”
The page then continues to mention the history of Bitcoin, and how the huge price spike of 2013 was such an important feat in the history of this disruptive digital currency. But have no fear, as this MLM program will allow investors to be “part of the next big winner in digital currency, OneCoin”.
So far, nothing seems out of the ordinary other than some very bold and wild claims, but this is where things get of particular interest. Joining the OneCoin program can only be done through invitation, creating the illusion of being a “select group of elite people”. Furthermore, everyone who joins the “One program” will position themselves “in an unlimited revenue generating program”.
If that isn’t a red flag, the page continues by referring to “OneLife Points”, a sort of online “currency” which apparently has value. The
Originally appeared at: http://insidebitcoins.com/news/onecoin-mlm-scheme-references-bitcoin-to-attract-investors/33875