Altcoins Bitcoin

Roger Ver Thinks OneCoin is a Scam

Guest Author | October 23, 2016 | 11:00 pm
Altcoins

Roger Ver Thinks OneCoin is a Scam

Guest Author | October 23, 2016 | 11:00 pm

OneCoin has developed a sketchy reputation, and now bitcoin evangelist Roger Ver is adding to the mix.

In a recent interview, the owner of Bitcoin.com says he believes OneCoin is a fraud, and that investors should always be wary of new coins and read up before they put their money in things they don’t understand:

“There is never a cryptocurrency without a wallet. This sounds like more evidence of its fraudulent nature. OneCoin isn’t traded on a single exchange anywhere in the world as far as I know.”

OneCoin has been around for over two years, but questions surrounding its authenticity continue to plague the Internet. Several people see OneCoin not as a cryptocurrency but as a Ponzi scheme, and many governments have warned users not to invest in it.

A recent blog post lists several reasons as to why OneCoin is a potential scam:

“OneCoin has not been open about anything. They have yet to share any details about their operations or even if their blockchain actually exists… If OneCoin was used by millions of people, why are there NO places where you can actually spend or make use of it? With such a large potential customer-base, it would be an obvious decision for merchants to accept OneCoin as a payment method. Bitcoin, which does have millions of users, is accepted as a payment method at many merchants, and that number continues to grow.”

The digital currency has been accused of posting a fake Semper Fortis letter to gain credibility, and a recent criminal investigation of the coin occurred in London.

Yet in spite of everything, Ver was reluctant to badmouth anything regarding the company’s new blockchain. While considered false or deceptive by crypto-enthusiasts, Ver stated that he didn’t “know enough to have an opinion.” Either way, he doesn’t feel OneCoin will hurt bitcoin’s image in the long run. Rather, he thinks it may even help to enhance bitcoin’s reputation, as several users continue to tout OneCoin as scandalous.

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