Bruce Fenton , founder of Bitcoin Foundation, adds his voice to the ubiquitous claims that OneCoin is a Ponzi scheme and its perpetrators should be arrested. In an interview given to Cointelegraph he explains why. Allegations of scam have reached its fever pitch after OneCoin claimed to have successfully launched and transferred old coins to a new Blockchain at an event in Bangkok. It appears the company’s claims are unsubstantiated. Cointelegraph spoke with Bruce Fenton about the situation: Cointelegraph: A couple of days ago OneCoin claimed to have successfully switched on their new Blockchain transferring coins from the old one to the new? Ain’t you impressed? Bruce Fenton: Heh. CT: Looks like if anything goes wrong it’s the reputation of OneCoin that’s at stake here. Why are you and some members of the community Concerned? BF: Because when OneCoin collapses and thousands lose their money the regulators will blame all cryptocurrencies. CT: Haven’t they showed enough proof of the existence of their Blockchain? BF: Oh no − it’s just a fake video they showed. Also, a Blockchain doesn’t mean anything. It doesn’t back the value. CT: Do the numbers of coins and minutes they were mined raise eyebrows? BF: It means nothing. And is unlikely true. I can launch a coin today and issue a billion coins. It doesn’t mean they have values. Why would my coin have value? It’s only worth something if people will pay. No one will pay for OneCoin. It’s a scam. CT: Not less than 8400 people were at the launch in Thailand… BF: Okay but would 8400 people mean it’s not a scam? Look − it’s like this − Dr. Ruja just made up this idea for a cryptocurrency and gets people to give her money. That’s it. If you invested I’m sorry […]
