Categories: CryptoNews

OneCoin Claims To Have Largest Cryptocurrency Market Cap After Doubling Event

Yesterday was quite an interesting day in the world of Bitcoin scams and Ponzi Schemes. OneCoin, the world’s biggest pyramid scheme to date, doubled all user coins last night. This brings the total supply of “coins” to 2 billion, which is ridiculous. In fact, this means that OneCoin is now a bigger cryptocurrency than Bitcoin, according to OneCoin CEO, Ruja Whatsherface.

OneCoin Is A Scam Regardless Of What They Tell You

The allure presented by this global pyramid scheme should not be underestimated. People from all over the world are falling for what OneCoin

promises, even though they have no blockchain or coins in existence to speak of. The scheme entails the distribution of incoming funds to early investors, whereas new members have to recruit hard to make money.

Now that all of the non-existent Onecoin balances have been doubled, the Ponzi Scheme camp is over the moon regarding its success. Creating a 100% value increase out of thin air is ludicrous, yet millions of people seem to fall for it anyway. In fact, the team claims that their market cap is now bigger than Bitcoin’s.

To put this into perspective, OneCoin’s new “blockchain” will allow for 50,000 new coins to be generated every minute. The team is also planning to “go public” with the coin come 2018. How this will be achieved is anybody’s guess, as there is no OneCoin blockchain or coins to speak of in the first place.

Related Post

What is rather worrisome is how every OneCoin is valued at nearly 7 euros per piece. Keeping in mind how this is all vaporware, one can see that the team is making big money off the backs of gullible people. In this day and age, fooling people with financial promises has become very easy, especially when it’s related to “virtual currencies”.

Anyone who still believes OneCoin is a legitimate scheme will be in for a rude awakening very soon. Governments and law enforcement agencies

all over the world are looking to investigate what this cult is offering its members, and it will be shut down sooner or later. Everyone who has funds in OneCoin should pull them out as soon as possible and see if they can pay out. In most cases that will not be possible.

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.

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

Share
Published by
JP Buntinx

Recent Posts

Best Crypto Presale To Buy Now: Rollblock Delivers For Holders With New License, Record Sign Ups and 7000+ Games

Rollblock is quickly becoming the best crypto presale to buy, delivering unmatched value for its…

3 hours ago

Polkadot And Uniswap Gearing For Post-Christmas Jump As Rollblock Raises $7.4 Million in Presale

While Rollblock's continues its crypto presale, with its value increasing regularly, Polkadot (DOT) and Uniswap…

4 hours ago

IntelMarkets (INTL) Receives Massive Demand From Chainlink And SUI Investors Looking To Position For The Best Bull Run Gains

As the cryptocurrency market gears up for a bull run, IntelMarkets (INTL) is attracting significant…

4 hours ago

FOMO Selling Trigger $1 Billion Liquidations as LINK & SOL Bleed Heavily; What to Do Next?

In the past, Chainlink (LINK) and Solana (SOL) have been among the most discussed altcoins…

9 hours ago

Qubetics $7.4M Presale Revolutionises Blockchain as Bitcoin and Chainlink Drive Innovation: Best Cryptos to Buy for 2025

The crypto market is abuzz with excitement as 2025 approaches. While Bitcoin continues to dominate…

15 hours ago

Best Altcoins to Buy Today: Why Qubetics’ Presale Could Be the Best Investment Opportunity of 2024

The cryptocurrency market never sleeps, and every day feels like an adventure. From household names…

21 hours ago