This is my entry to @trumpman's My Most Shitty Investments Challenge
Onecoin!
There you go! I named it, boo!
Oh, the founder of onecoin, Ruja Ignatova just vanished with all the money last year. (people call her Dr. Ruja, I don't have enough respect for her to call her Dr. I'd much rather call the B word, and I'm generally a very nice person)!
So how this worked was, you buy a package from them, and according to the level of the package they will "mine" specific amount of coins for you on their Imaginary Blockchain, the existence of which will not be discovered by Historians of the 22nd century!
So why was I this stupid? Well, lack of knowledge! Soon after I had already invested in it, I found out about the Steem blockchain and the steemit platform, where there were actual crypto enthusiasts with proper knowledge of how this space works. I kept talking to a lot of them on their posts, on discord. And the more I learned about crypto, the more I began to realize what a big Ponzi Scheme I had stepped into with Onecoin. Yeah, it was textbook Ponzi scheme, something I wasn't too aware of in my younger years.
I don't consider this to be my shittiest investment because of the amount of money I lost. I've lost more on other projects, which at least had a project. People always loose a lot more money that what I did on onecoin. I consider this the shittiest because the I failed to see through the sheer amount of bullshit they used to say to their customers. Even at an imaginary level, the only use of their coin they could tell us was, It will replace Bitcoin. LMAO! I wasn't knowledgeable enough to look for value of the coin in terms of what usage it provides, what problem it solves.
The only problem Onecoin seemed to solve was.....nothing!
Well, lessons learned from mistakes! Moving on!
BDCommunity Witness
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lol Bro
I was so close to investing in One-coin but luckily I was spared!!
But I was not able to get rid of the other one. Will write the post soon ;)
I'm very intrigued to know what that is ;)
Ha I've never heard of onecoin. But everyone who put money in cryptopia had a pretty shitty investment too! I was one of those. About 2.5 btc!!
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2.5 BTC....Ouch!
Yeah cryptopia was so shady, I know about them. But luckily I never kept any crypto on cryptopia. As soon as I made a purchase, I withdrew.
yea the problem was it happened when alts were bleeding so bad I got depressed and didn't want to mess with crypto, I just held and unfortunately held in the cryptopia wallet!
I guess I didn't learn my lesson entirely because I still hold a ton on binance haha.
And look what binance did with the steem that was stored on their exchange!
yea exactly, I don't trust any of them! haha
Shared on Twitter :
Man, that sucks!
I think you are over it now so I'l try making you smile!
Ahahaha bitconeeeect!
Whenever I hear bitconnect, I hear Trevon James' voice, "Everyone, listen up! You didn’t lose your money. Now, you have to.....Technically, you kinda lost your money!" 😂
Hahahahaha! Bitconneeeeeeeeeeeeeeeect! Fuck man, it's funny but not funny at the same time!
People still listen to Trevon James for financial advice! I follow him on lbry.tv and he gets a ton of views. Some of them might be just for the laughts just like me though!
He was on steem too for some time lol!
Yeah I can understand how It's so not funny. Same is happening with onecoin now. It's so obvious they are a ponzi, but people are still investing and buying up their "coin."
It's just bitconnect 2.0.
Well, people sometimes tend to learn the hard way! I guess it's a part of life!
Thanks for the great conversation my friend! I really enjoyed it!
Cheers!
Bitconneeeeeeeeect 🚀🚓🚀 🚔
This is so true bro!
But here you can read about my bad investment. 😂
Hahaha yes that's how it always is at first, isn’t it! I didn’t even know exactly what was I supposed to research, or what features to look for lol! Just invest, FOMO FTW!
True, bro!
There you are 🧐 ...yeah , moving on