Sued By Onecoin

[The Bitcoin Co-op]

CoinFest organizer Tim Tayshun is BEING SUED by a Onecoin shill in federal court for 77 counts of defamation. I don't think Onecoin could possibly win in any reasonable judge's courtroom, but unfortunately it costs time and money to show up and deal with it, which is why they're doing it to him (it's bullying).

We are going to use CoinFest's multisig wallet as an escrow to store funds donated for the purpose of fighting this lawsuit. In the event that more funding than necessary is received, all leftovers will be kept by CoinFest to be used for educating people about real cryptocurrencies that aren't Ponzi schemes, maybe even an anti-shitcoin workshop if somebody volunteers to organize it.

You can find our donation address and QR code in this interview on the subject. Please spread the word and feel free to donate... conferences such as CoinFest can only remain open and permissionless if the community is active about fighting scams, which will attempt to infiltrate us.

Article: https://news.bitcoin.com/part-deux-onecoin-buyer-beware-the-definitive-ponzi-expose/

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[Xavofat]

Ponzi scheme participants become remarkably cult-like after a while since they have to both convince themselves that they made a good investment and convince other people to invest underneath them.

Unfortunately this means that just pointing out the nasty actions of OneCoin as a company is unlikely to get through to participants because they will view other people insulting OneCoin as "defamation" too.

The approach should instead be about their refusal to release the actual cryptocurrency that they claim to have, the promises of specific returns and the centralised approach to pretty much everything.