Bitcoin News: OneCoin Gets Shut Down

Bitcoin News: OneCoin Gets Shut Down

In my last video I posted about the difference between #OneCoin vs. #Bitcoin, so there is no reason to have that conversation again.

OneCoin is essentially now dust. The largest German Finance Regulator just closed down the payment processor for OneCoin and is going after them. There also seem to be widespread fraud allegations.

I won’t go into details of the case. You can look it up online in the news. But, it’s interesting that over the past year people have been asking me about OneCoin and I would respond that “I wouldn’t touch it with a ten foot pole,” and then I did a live video a few days a go on why I wouldn’t touch OneCoin because there’s no free market and so forth. And, that’s exactly what ended up happening. The regulators have shut those guys down.

So, I wanted to share that update with you. It’s very interesting. But, the most important thing to understand here is that when you are dealing with cryptocurrency you need an open free market, open source code, and that code needs to be supported by a large community like Bitcoin is by miners from all over the world (who support the transactions that support the community).

So, if you are just barely being introduced to The American Bitcoin Academy for the first time right now, take a bit of time to like our Facebook page and read some of the other articles we have on here. We always try to provide you with the most relevant and updated information.

Brian Sewell

Founder

AmericanBitcoinAcademy.com

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