The well-known scam that is OneCoin is still one of the most widespread fraud schemes in the world today. Even though people are slowly becoming more knowledgeable on Bitcoin, they see OneCoin as a “much better option”. That seems rather strange, but the huge promised returns will have something to do with this.
People Can’t See Through The Web of Lies That is OneCoin
It has to be said; Bitcoin has probably one of the worst perceived reputations among financial instruments right now. The majority of things average people know about Bitcoin comes from the media, which has never taken kindly to the Bitcoin concept. Then again, no one should ever trust the media is not pushing their own or someone else’s agenda.
That being said, all of the negative Bitcoin attention is paving the way for alternatives. OneCoin is the hot commodity, despite the number of scam allegations increasing. But people continue to make money through this MLM Ponzi scheme, as long as new people join the business. Moreover, the “company” has centralized leaders, which instills trust for some reason.
What is even more worrisome is how eager people are to believe somebody else claiming their investment is paying off handsomely. OneCoin members all suffer from a cult-like mentality, where any sense of normal behavior and common sense seems to be replaced by hollow eyes filled with dollar signs. Greed is one of humanity’s worst traits, and OneCoin is exploiting that to the fullest.
One Reddit user mentioned how his family members call him “silly’ for being involved in Bitcoin. OneCoin is clearly a much better opportunity as it offers much higher return rates. Plus, since the negative press surrounding OneCoin remains somewhat limited for now, there is no reason not to get involved. The project is also getting a lot of positive attention, albeit it doesn’t take much to pay off people to write fake posts these days.
All of this goes to show there is plenty of education to be done in the cryptocurrency world. Not just about Bitcoin and how it has never been hacked, as some outlets claim. But also about the dangers OneCoin and similar illicit MLM schemes pose. Granted, there will be people who make money, but they will only do so because of sheeple who buy into their fairy tales.
Image credit 1
If you liked this article follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.