Wednesday, 14 December 2016

Analysis of OneCoin blockchain - Part 4: "genesis block #0" - Version 2

Summary of Conclusions
  1. According to Dr Ruja Ignatova 1,986,580,000.00000000 Onecoins were "mined" within one minute and the Blockchain explorer shows that the complete output went to one Output Address. As these Onecoins are supposed to belong to thousands of OneLife members (while many of them have more than one Account), this is conclusive evidence that "genesis Block #0" including its Transaction is fake.
  2. The Onecoin Account - Transaction History of the account we used for this analysis shows two blockchain migration related Transactions with timestamps of one and two minutes after midnight on 1 October 2016 GMT/UTC. The "mining" of the genesis block happened 9.5 hours later. This is conclusive proof that this "revelation" during the Mastermind Event in Bangkok was one big show.
  3. In a centralized blockchain system, like the Onecoin blockchain, confirmations of Transactions are meaningless by definition. This is conclusive proof that the "Confirmations" of Onecoin Transactions are fake.
  4. According to info on the Blockchain info page "OneCoin’s blockchain consists of each transaction ever performed in OneCoin". The first 16,040 Blocks after the genesis Block #0 had only one Transaction for 50,000 new mined coins with only one Output Address. However this "block reward" should be divided among all members who have submitted Tokens for mining via the "mining pools". In other words, in order for these Transactions to be valid, a separate Output Address is required for each member in the pool. This is conclusive proof that these Transactions and the Blockchain are incomplete. An incomplete Blockchain is useless, by definition.
  5. Despite the statement on the Blockchain info page that "the OneCoin blockchain does not resemble a public ledger like the blockchain of decentralized cryptocurrencies", the developers put a lot of effort in mimicing the Bitcoin Blockchain explorer on www.blockchain.infoAll items in the onelife.eu blockchain explorer are also present in the blockchain.info explorer.
  6. Without a valid genesis block, there can not be a valid Blockchain, by definition. Everything else recorded in the "Blockchain" is worthless and unusable.

A. Objective and Procedure
DISCLAIMER: the authors of this article have tried to execute an objective investigation. None of the data have been manipulated, only some personal data on screenshots are hidden. Some large screenshots have been compiled to make them more compact, but without changing data.

The complete procedure is step by step reproducible by anybody with a OneLife account, including a free Rookie account.

The aim of this analysis is as follows:
  1. Check the meaning, credibility and consistency of the data of the so-called "genesis block" and related Transactions, which are visible on the web pages on the www.onelife.eu backend.
  2. Check the consistency of these data with info presented by the OneCoin company on the www.onecoin.eu website.
  3. Check the consistency of these data and info with statements made by (self-proclaimed) OneCoin cryptocurrency expert and visionary Dr Ruja Ignatova.
A.1. Information supplied by the OneCoin company
The www.onecoin.eu Home page contains the following statements:
  • Easy & Safe: OneCoin is the first cryptocurrency that is easy to mine, trade and use. No complicated hardware or advanced knowledge is needed. The centralized model protects its members' safety and ensures compliance on AML. OneCoin is the first cryptocurrency that audits its block chain.
  • Powerful Blockchain: All transactions and mined coins are recorded on the OneCoin blockchain.



The Blockchain info page contains the following statements with regard to the OneCoin blockchain:
  • OneCoin’s blockchain consists of each transaction ever performed in OneCoin.
  • The blockchain is based on protocols that authenticate, validate and store information in consistent, unbroken sequences that make the system safer by eliminating any attempts of fraud, duplicity and forgery.
  • Because of its centralized system, the OneCoin blockchain does not resemble a public ledger like the blockchain of decentralized cryptocurrencies.
The Cryptocurrency info page contains the following statements with regard to the OneCoin blockchain:

  • OneCoin is not a pre-mined cryptocurrency, meaning that the OneCoin miners create the market. By mining the coin, transactions are added and recorded to the OneCoin ledger, comprised of all past transactions. The ledger resembles a chain of blocks, which confirm that a certain number of transactions have been made.



A.2. Procedure
We used the following procedure during this analysis:
  1. Log in on an existing OneLife Account which contained a number of Onecoins in the Onecoin Account before 1 October 2016, the day of the launch of the new Blockchain Version 2.
  2. Check the transactions in the Onecoin Account - Transaction History which are related to the "switch" from Version 1 to Version 2 of the Blockchain and the doubling of Onecoins during the "mining" of the genesis block on 1 October 2016.
  3. Go through the Cryptocurrency/Blockchain page in the www.onelife.eu backend to the page with the detail data of a specific Block. Via the "PREVIOUS BLOCK" hyperlinks, browse all the way back to the very first Block i.e. Block #0, also called the "genesis Block".
  4. Check if the data of the genesis Block #0 and related Transaction are credible and consistent with: a. Statements by Dr Ruja Ignatova during the Coin Rush and Mastermind Events; b. Info presented by the OneCoin company on the www.onecoin.eu website; c. Detail data of the Onecoin Account - Transaction History.
  5. Browse through the Blockchain explorer to Block #1 and following Blocks to examine if there are any other Blocks and Transactions which refer to the genesis Block.
  6. Compare the Blockchain and Transaction data of the onelife.eu blockchain explorer with the data in the blockchain explorer of a cryptocurrency which has proven its existence.

B. Fact Finding and Analysis

B.1. OneCoin Coin Rush in London, 11 June 2016
The announcement of Blockchain Version 2 aka "the new blockchain" was done by Dr Ruja Ignatova during the OneCoin Coin Rush Event in London on 11 June 2016. The following quotes and timestamps refer to a YouTube video of the event.
  1. "... we will go up to 120 billion coins. Of course we can not do it with our blockchain like today. We need to retire our blockchain and we will launch a new blockchain on the first of October this year." (YouTube 24m55s)
  2. "The new blockchain will be activated on the first of October [...] So on our second anniversary almost we will retire the old blockchain and switch on the new one. [...] Whatever coins you have in your account or in the mining, if you have one thousand coins in your account and one thousand in the mining, what we will do as a company, we will double the coins ... (APPLAUSE AND CHEERING)" (YouTube 27m24s).

Stills of video of the OneCoin Coin Rush Event in London

Dr Ruja Ignatova on stage
Summary of the advantages of the proposed new Blockchain Version 2
B.2. OneLife / OneCoin Mastermind Event in Bangkok, 1 October 2016 The launch of the new blockchain was presented by Dr Ruja Ignatova during the OneLife/OneCoin Mastermind Event in Bangkok on 1 October 2016. The following quotes and timestamps refer to a YouTube video of the event.
  1. "So what we will try to do is, we will try to show you the mining of the first block, live, and they will put this on the screens behind me whenever the clock shows 4:30 ..." (YouTube 20m15s)
  2. "The new blockchain will mine 50,000 coins per minute ..." (YouTube 20m40s)
  3. "So the block is supposed to mine one minute. I see fourteen seconds. This first block is very special guys. It is called the genesis block and all your double coins are mined right now!"(YouTube 21m21s)
  4. "It's a slow one, it's a lot of coins to be mined ... YES, we did it! We mined 1 point 986 580 000 coins guys. All the Ultimate packages and all of you now should have double coins, congratulations! (APPLAUSE AND CHEERING)" (YouTube 22m25s)

NB: The "4:30" timestamp in the first quote refers to local Bangkok time during the event, i.e. 1 October 2016, 4:30 PM or 16:30. We know this for sure, because we watched the livestream during the event.

According to https://www.timeanddate.com/worldclock/thailand/bangkok Bangkok time 1 October 2016, 4:30 PM corresponds to 1 October 2016, 09:30 AM GMT/UTC. We will come back to this later, because all Transaction timestamps in the OneCoin Account - Transaction History refer to GMT/UTC.

Still of video of the OneLife/OneCoin Mastermind Event in Bangkok
Note "GENESIS BLOCK IS MINED" on the video screen.

B.3. Browsing through the OneCoin blockchain explorer to the genesis Block #0
We automated the process of "browsing" through the Blockchain via the "previous block" hyperlink with the help of a Firefox plugin, Selenium IDE.

Screenshot of Selenium IDE test script - "previous block"
This is a screenshot of the replay of some test Commands to illustrate the concept of the working of the test script. The script "clicks" on the "previous block" hyperlink, identified by a so-called "xpath" in the HTML code, waits until the screen appears, and then repeats the same Command until it stops with an error message, because there is no "previous block" hyperlink anymore.



This way we found the address of the very first Block, the genesis Block #0:
https://www.onelife.eu/backend/blockchain/block/9da2f0dd582b38e49bea35b87cded46fe8550d4d259e40c14812d8f404f3954f

NB: This hyperlink is no longer valid because a new version of the onelife.eu backend with a different layout was introduced afterwards; this also changed the structure of a number of hyperlinks.

Screenshot of genesis Block #0 with old layout and old hyperlink

This is the current hyperlink to the genesis Block #0. Note that "cryptocurrency" is added to the old hyperlink.
https://www.onelife.eu/backend/cryptocurrency/blockchain/block/9da2f0dd582b38e49bea35b87cded46fe8550d4d259e40c14812d8f404f3954f

B.4. Browsing through the Onecoin blockchain explorer to Blocks following Block #0
We browsed manually through the Blockchain and found that a large number of consecutive Blocks contained only one Transaction and Output Total equal to 50,000 ONE. To check the number of Blocks with the same characteristics, we automated the process of "browsing" through the Blockchain via the "next block(s)" hyperlink with a Selenium IDE testscript.

Below is a screenshot of the replay of some test Commands to illustrate the concept of the working of the test script. The script "clicks" on the "next block(s)" hyperlink, identified by a so-called "xpath" in the HTML code, and waits until the screen appears.

Then it checks if the value of the Output Total field (identified by another xpath) is equal to "50 000.00000000 ONE". If this is the case, the same two Commands are repeated. As soon as Output Total has a different value, the test script stops with an error message.

The script stopped at Block #16041 (hyperlink: Block #16041 ) with the following error message:
  • [error] Actual value '1 986 630 000.00000000 ONE' did not match '50 000.00000000 ONE'
Screenshot of Selenium IDE test script - "next block(s)"

This means that all Blocks from Block #1 up to and including Block #16040 had one Transaction and an Output Total equal to 50,000 ONE.

According to Dr Ruja Ignatova "The new blockchain will mine 50,000 coins per minute ...", so this would mean that more than 16,000 consecutive Transactions were recorded for mining of "new" Onecoins only.

NB: This is new proof that transactions for the transfer of Onecoins from/to different Onecoin Accounts were not recorded, i.e. not visible. See also Part 2: Transfer of Onecoins to downline IMA of this series of articles.

B.5. During the analysis the following Observations were made:
  1. The complete "Output" of the 1,986,580,000.00000000 mined Onecoins of the only Transaction in genesis Block #0 was sent to one Output address with ID "9UHVMKSB8xdgzjY5X82gC5An4NiupfiUE5". If there would have been a real blockchain, the creation of the genesis block could have been "pre-programmed", but then the number of output addresses must be equal to the number of Accounts with Onecoins.
  2. The timestamp of genesis Block #0 shown on the screen is "01/10/2016 09:31:13" GMT/UTC, i.e. 1 October 2016, 09:31:13 AM GMT/UTC. The Onecoin Account - Transaction History contains two Transactions related to the blockchain migration and coin doubling with timestamps "01-10-2016 00:00:01" and "01-10-2016 00:00:02" i.e. 9.5 hours earlier, immediately after midnight 1 October 2016. In other words, there is a mismatch of 9.5 hours between the two timestamps.
  3. The first 16,040 Blocks after the genesis Block #0 don't have any Transactions which are related to Output address "9UHVMKSB8xdgzjY5X82gC5An4NiupfiUE5". These Blocks all have only one Transaction with 50,000 new mined Onecoins, so they don't have an Input Address, only an Output Address.
  4. Block #16041 is the first block with more than one Transaction (i.e. two Transactions). It is very remarkable that the Input Address of one of these Transactions ("9UHVMKSB8xdgzjY5X82gC5An4NiupfiUE5") is identical to the (only) Output Address of the genesis Block #0 Transaction (the Address which received almost 2 billion Onecoins). The output goes to two Addresses, the first one receives 1 million Onecoin.
  5. Block #16042 is also very remarkable: 20 Input Addresses with 50,000 Onecoin and 1 Output Address which receives 1 million Onecoin. NB: 50,000 is supposed to be the "reward" which should be divided between the OneLife members who put Tokens into mining and are part of the same "mining pool".
  6. Despite the statement on the Blockchain info page, that the Onecoin blockchain is a "centralized system", each Transaction detail page shows a number of "Confirmations". This number is identical to the Number of Blocks mined since the genesis Block and increases by one every minute. Note: on 12 December 2016 the Transaction in the genesis Block had already more than 100,000 Confirmations.
  7. Despite the statement that "the Onecoin blockchain does not resemble a public ledger like the blockchain of decentralized cryptocurrencies", there are more similarities than differences between the blockchain explorer in the onelife.eu backend and the Bitcoin explorer on www.blockchain.info.
  8. On 25 November 2016 the "Difficulty" of the conversion of Tokens into Onecoins was increased from 70 to 79. However, for all Blocks mined before 25 November 2016 a Difficulty of 79 was shown in the "old layout" of the Block SUMMARY data. See also "Screenshot of genesis Block #0 with old layout" in paragraph B.3. NB: in the new layout the Difficulty is not visible anymore.
  9. A relevant finding we discovered during our analysis of the Blockchain and Transaction data which are visible, is that the NUMBER OF TRANSACTIONS shown on the BLOCKCHAIN page is consistent with the number of transactions of which detail data are visible on the BLOCKCHAIN and MINING pages (except for some inexplicably missing transactions of 50,000 ONE). In other words, these pages pretend to show all Transaction data (not just a random selection or only specific Transaction types). A separate article will be dedicated to the analysis of these data.
Sub 1 - genesis Block #0
https://www.onelife.eu/backend/cryptocurrency/blockchain/block/9da2f0dd582b38e49bea35b87cded46fe8550d4d259e40c14812d8f404f3954f
Output address = 9UHVMKSB8xdgzjY5X82gC5An4NiupfiUE5

Sub 2 - Onecoin Account with two Transactions related to the blockchain migration and coin doubling.
NB: old layout including exact timestamps in hours:minutes:seconds (00:00:01, 00:00:02).

Sub 2 - Onecoin Account with two Transactions related to the blockchain migration and coin doubling.
NB: new layout without timestamps, i.e. only Dates.


Sub 3 - Block #1
Note: 1 Transaction, Output total = 50,000.00000000 ONE.
https://www.onelife.eu/backend/cryptocurrency/blockchain/block/9f3d8de19657a0861bef9987010b71f8e3d324f9be9f488bbdc8f7a6b75b3f6c

Sub 3 - Block #2
Note: 1 Transaction, Output total = 50,000.00000000 ONE.
https://www.onelife.eu/backend/cryptocurrency/blockchain/block/08743cd04196db241237083ea59a243853cc12e8612421ca1fe2607ce01084fb

Sub 5 - Block #16041 - first Block with more than 1 Transaction
Hyperlink: https://www.onelife.eu/backend/cryptocurrency/blockchain/block/62cd09efd9d0711e31eb3f5d2fd39e68169e388c8108447d9341c2d519f4f42c

Sub 5 - Block #16042
Remark: 20 Input Addresses with 50,000 ONE.
Hyperlink: https://www.onelife.eu/backend/cryptocurrency/blockchain/block/2ec63c3e4ceec3675efbb29422c8752799c90f73964a0494d7d7d12912d84eae

Sub 6 - Transaction of genesis block - Confirmations
https://www.onelife.eu/backend/cryptocurrency/blockchain/tx/f6346514762d370a8771d2426d36e3fee50c25986ad10170eb5fa4589c72d1c1


Sub 6 - BLOCKCHAIN page with highest "Height" (= Block number) at that moment
This screen was examined at the same time as the Transaction of the genesis Block (see screenshot above). The "Height" in the yellow rectangular in paragraph LATEST BLOCKS is the number of the last (most recently mined) Block, one less than the number of Confirmations of the genesis Block Transaction at that moment.


Sub 7 - Bitcoin Blockchain explorer on www.blockchain.info - genesis block
https://blockchain.info/block-index/14849/000000000019d6689c085ae165831e934ff763ae46a2a6c172b3f1b60a8ce26f
Note: almost all items on this screen are also present in the onelife.eu Blockchain explorer.

C. Conclusions
  1. According to Dr Ruja Ignatova 1,986,580,000.00000000 Onecoins were "mined" within one minute and the Blockchain explorer shows that the complete output went to one Output Address. As these Onecoins are supposed to belong to thousands of OneLife members (while many of them have more than one Account), this is conclusive evidence that "genesis Block #0" including its Transaction is fake.
  2. The Onecoin Account - Transaction History of the account we used for this analysis shows two blockchain migration related Transactions with timestamps of one and two minutes after midnight on 1 October 2016 GMT/UTC. The "mining" of the genesis block happened 9.5 hours later. This is conclusive proof that this "revelation" during the Mastermind Event in Bangkok was one big show.
  3. In a centralized blockchain system, like the Onecoin blockchain, confirmations of Transactions are meaningless by definition. This is conclusive proof that the "Confirmations" of Onecoin Transactions are fake.
  4. According to info on the Blockchain info page "OneCoin’s blockchain consists of each transaction ever performed in OneCoin". The first 16,040 Blocks after the genesis Block #0 had only one Transaction for 50,000 new mined coins with only one Output Address. However this "block reward" should be divided among all members who have submitted Tokens for mining via the "mining pools". In other words, in order for these Transactions to be valid, a separate Output Address is required for each member in the pool. This is conclusive proof that these Transactions and the Blockchain are incomplete. An incomplete Blockchain is useless, by definition.
  5. Despite the statement on the Blockchain info page that "the OneCoin blockchain does not resemble a public ledger like the blockchain of decentralized cryptocurrencies", the developers put a lot of effort in mimicing the Bitcoin Blockchain explorer on www.blockchain.info. All items in the onelife.eu blockchain explorer are also present in the blockchain.info explorer.
  6. Without a valid genesis block, there can not be a valid Blockchain, by definition. Everything else recorded in the "Blockchain" is worthless and unusable.
D. Remark A reader of this blog pointed to the possibility that there could be a valid and complete blockchain, but the web pages would not be showing all of its data (or none of it). Theoretically this is possible indeed, but this wouldn't make sense at all and there is no proof whatsoever which supports this hypothesis. This is why we add this Remark only once.

29 comments:

deckfromacard said...

I have to point it out that the Conclusion #4 "The chance that the sum of amounts in thousands of Onecoin Accounts ends on 12 zeroes (inclusing 8 decimals) like the alleged 1,986,580,000.00000000 OneCoins in the genesis block, is much less than one in a billion." is kind of pointless. Ruja himself said that they mined "one point nine eight six five hundred and eight thousand coins" (sic.) which was supposed to be double of the original blockchain coins plus all of the coins for Ultimate package buyers. The number of coins simply was to be an even number to begin with.

Much more interesting is the fact that today's blockchain only shows transitions in fractions whereas coins can only be handled as integers...

deckfromacard said...

In fact, let me add few more idle observations on the fact that in block #16042 we start to see first transaction that are *not* coin mining: This means that since the midnight of October 1st 2016 it took 16040/60 hours, that is 11 days and 3 hours until first transactions. Two obvious info:
1. NOTHING was transferred between accounts in OneCoin blockchain until October 12th, 3am GMT.
2. SOMETHING was transferred between accounts in OneCoin blockchain after October 12th, 3am GMT.

Fun fact #1: Kari and Ruja both shared in Facebook an update that stated people have been using over 5000 OneCoins in a restaurant in Tallinn during "less than two weeks". The date? October 10th, two days before any transactions take place. I wonder how they paid with OneCoins then?
Fun fact #2: The OneCoin internal exchange was closed until October 17th. There is absolutely no way anybody could have transferred anything between October 12th and October 17th as no sales or upline/downline transfers were possible. Yet we see transactions during that time frame.

Few links:
Kari's FB share of the post about restaurant in Tallinn.

The original post.

Exchange back online.

OneCoinOneLifeFacts said...

Thanks for your comments. It is correct that the sum of all amounts in all Onecoin Accounts SHOULD be a multiple of 10,000 at the end of Blockchain Version 1. However, this is not consistent with the transactions I found in a real Onecoin Account, which is representative for the majority of other accounts as well. I changed the text already and will return to this matter later.

Regarding your second remark: this is true for the transfer of coins between members, but not for "mining". During mining the number of submitted Tokens is divided by the difficulty, the result is a fraction in many cases. I also found that any amount of euros in the Trading Account (called "Mandatory Account" in the past) can be exchanged for Tokens which then are submitted for mining automatically. This will be discussed in Part 5 of this series.

OneCoinOneLifeFacts said...

Update: I have deleted Observation 3 and Conclusion 4 for the time being. I have to check the facts again.

OneCoinOneLifeFacts said...

After checking the facts again I came to the conclusion that there is no proof for (former) Observation 3 and (former) Conclusion 4, so I leave them out. In Conclusion 4 I deleted the remark on transfers of Onecoins between OneLife members as well as buying and selling of Onecoins as they are not relevant in this case.

I leave these comments as they are because I don't want to hide anything relevant. Thx again.

OneCoinOneLifeFacts said...

I will use your comment, including the Facebook hyperlink and screenshots, in my next article. Topic: Blockchain and Transaction data which are visible. Thx.

OneCoinOneLifeFacts said...

The "Exchange back online" hyperlink is not valid. Can you restate it please?

deckfromacard said...

One notable thing: the output address for 1 000 000 OC in blocks 16041 and 16042 are same. So if the blockchain would be showing actual transactions, there would have been a person who received 1 000 000 ONE from genesis block and 20 times mining reward, i.e. reward for mining of 1 000 000 OC. That is EXACTLY the 2 million OneCoins promised for Ultimate Trader package and they do indeed go to one single account and they do this 6 days before the internal exchange opened.

With a script you could also check if all of the input addresses of block #16042 have actually been mentioned as output addresses in any of the blocks (16 039 of them)? If not, then there are transactions not recorded in the blockchain for sure as this is full blockchain starting from genesis block so there cannot be any "pre-existing" adresses.

deckfromacard said...

The hyperlink works for me. It may need facebook login, though. I took a screenshot of it:
http://i.imgur.com/D8548Jz.png
Sorry for the Finnish UI, "lokakuuta" == "of October".

deckfromacard said...

Oh you're going to LOVE this!!!
I checked the blockchain for a bit forward and this is what is visible:

In block #16041: 1,000,000 ONE is trasferred to output address 9ZTji2SeQcs7NPwGEgsARm3W355sjBuHzr
In block #16042: 1,000,000 ONE is trasferred to output address 9ZTji2SeQcs7NPwGEgsARm3W355sjBuHzr
In block #16067: 1,000,000 ONE is trasferred to output address 9ZTji2SeQcs7NPwGEgsARm3W355sjBuHzr
In block #16068: 1,000,000 ONE is trasferred to output address 9ZTji2SeQcs7NPwGEgsARm3W355sjBuHzr
In block #16069: 1,000,000 ONE is trasferred to output address 9ZTji2SeQcs7NPwGEgsARm3W355sjBuHzr
In block #16070: 1,000,000 ONE is trasferred to output address 9ZTji2SeQcs7NPwGEgsARm3W355sjBuHzr
In block #16071: 1,000,000 ONE is trasferred to output address 9ZTji2SeQcs7NPwGEgsARm3W355sjBuHzr
In block #16072: 1,000,000 ONE is trasferred to output address 9ZTji2SeQcs7NPwGEgsARm3W355sjBuHzr
In block #16073: 1,000,000 ONE is trasferred to output address 9ZTji2SeQcs7NPwGEgsARm3W355sjBuHzr
In block #16074: 1,000,000 ONE is trasferred to output address 9ZTji2SeQcs7NPwGEgsARm3W355sjBuHzr

Unless someone bought 5 Ultimate traders, that one account has been mining with 600,000,000 (six hundred million) tokens!!!

OneCoinOneLifeFacts said...

"It may need facebook login". This probably is the cause indeed, I don't have a Facebook account yet, but I will probably create one.

deckfromacard said...

I also made a longer comment but it had 10+ hyperlinks so you may have to check for spam folder if it ended up there.

deckfromacard said...

If you had a good script to parse through the OneCoin "blockchain" it could be interesting to check if anything was ever moved out from the address 9gZYr1K99chvfLRpuS33hsZLHVjqimYtdy (where all those genesis-block coins were moved to in block #16041)? Similarly it would be interesting to know if address 9ZTji2SeQcs7NPwGEgsARm3W355sjBuHzr (the one with 10 000 000 OC) is appearing even more often than it already is?

OneCoinOneLifeFacts said...

This is a good idea. I'm not sure if it's possible, but I will try for sure.

OneCoinOneLifeFacts said...

Published (from the Spam folder indeed).

cryptokill said...

any chance you could dumb this down for non techies?

State what is irrefutably wrong ,what may be right and what is what will be challenged by the OneCoiners as there version of the truth.

If you could put the answers on Behindmlm that would be useful as there is a more cohesive thread there

Thanks

OneCoinOneLifeFacts said...

The planning (without time schedule) is as follows:
a. Currently working on an analysis of the BlOckchain and Transaction data which ARE visible.
b. Analysis of the audit reports.
c. Compilation of all articles in a report in PDF format.

I think it's a good idea to start the PDF report with a summary in non-technical terms.

OneCoinOneLifeFacts said...

Bingo! 9gZYr1K99chvfLRpuS33hsZLHVjqimYtdy is the Output Address of 1 of 66 (!) transactions in Block #20519 https://www.onelife.eu/backend/cryptocurrency/blockchain/block/0f286b4fdf82e0b601525f6aacaf9f51b6e93df6931e18783d753012a219cd95
Tranaction ID: https://www.onelife.eu/backend/cryptocurrency/blockchain/tx/7b4a2300e9645609f46a999e85690d076a2f4aad299696cf8f32ab9f0ec7a125

The script is still running.

deckfromacard said...

One essential fact that you should list in the very beginning of the "non-techie" version is this:

What comes to cryptocurrencies, the whole purpose of a blockchain is that it is a book keeping method that cannot be later altered by any third party. Blockchain can be such only if it is the ultimate authority of the book keeping. That means there cannot be any external book keeping that would be needed for the record to be valid. If there is, the blockchain loses its meaning as the outside book keeping controlled by third party has authority over blockchain and the book keeping can therefore be altered later by the third party that has authority over the blockchain. This is plain fact of causality, it cannot be escaped by having a “revolutionary blockchain technique”.

An example: Bob moves two coins to Alice. In the blockchain we will write that account of Bob has two coins less than before and account if Alice has two coins more than before. This is full data and we can now trust that nobody can later alter this.

Another example: Bob moves one coin to Alice and one to Lisa. I we now write to the blockchain that account of Bob has two coins less than before and some other account has two coins more and outside the block chain we write that one of the coins on the other account belongs to Alice and one to Lisa, the data in blockchain is incomplete and a third party can alter the external data to read that both coins belong to Lisa. This is data cannot be trusted as it can be later altered in the external book keeping.

Therefore if the studies you have made show that blockchain data is not complete, then the blockchain is no longer unalterable and the whole blockchain is useless as some other book keeping is the actual highest authority.

OneCoinOneLifeFacts said...

I will post the summary of findings on Behindmlm as well, but only after my investigations are finished, to prevent double work.

deckfromacard said...

Probably more interesting would be if coins are ever moved _out_ of that address. ;)
(The most valuable finding would be if any of the input addresses in block 16042 could be shown NOT to be mentioned as output address before that block. It would singlehandedly show that the blockchain is invalid as there are coins appearing from thin air.

OneCoinOneLifeFacts said...

In Block #38525 and later blocks 9ZTji2SeQcs7NPwGEgsARm3W355sjBuHzr occurs as Output Address countless times, in a large number of Transactions even more than once in one Transaction.

Examples:

Block #38525: https://www.onelife.eu/backend/cryptocurrency/blockchain/block/0343c87ac91d5ea878c84c2a95af5c246c97ecc2e6be98cc312d9cb9ed2d7290

Block #38578: https://www.onelife.eu/backend/cryptocurrency/blockchain/block/8f35ba6c3e8daa21c6024d0849765d154d097a906b8d22eb00cfc8de76b52c5c

deckfromacard said...

That is puzzling. Since they were to create a "blockchain view" with some template data that tries to mimick actual transactions, it's amazing they have actually gone through the trouble to have transactions with proper addressing. Even more (with the partial knowledge we have) it seems that:
-Mining rewards go to newly assigned addresses.
-Coins from these addresses are gathered to central addresses.
-Coins from these central addresses are spread around (to miners?)

This would explain the non-integer numbers as the mining rewards between members would be fractions and they go through intermediate accounts in between which is why mining rewards are first put to one single account as a whole.

deckfromacard said...

Bad news: OneCoin wants to limit the access to revealing data like blockchain and other back office areas:
http://i.imgur.com/IMsjMPD.png
"Please be informed that due to compliance reasons and as a precautionary measure the Company accepted the policy that any Rookie account that has not been active within 14 days after login/acquisition has automatically become dormant. Re-activation of those accounts will be performed upon a request from the owner and submission or secondary submission of KYC documentation for identity verification. In case of non-provision of the KYC documents the account will be terminated."

OneCoinOneLifeFacts said...

I did not see this message yet, but I will speed up my analysis anyway.

deckfromacard said...

Merry Christmas!

I hope you will at some point address (perhaps even with a separate post?) the fact that coin mining is not needed for creation of coins but merely used as an incentive for outsiders to contribute to the blockchain. In case of OneCoin the OneCoin Ltd. is effectively minting OneCoins as a reward for itself for the use of its own servers, which is plain lunacy as they could create the coins at any speed they wish (proven by the "mining" of the genesis block).

Also once you get to the final summary, I think you should note there that there is a chance that OneCoin blockchain exists but is not shown in the backoffice. And also say that even if so, two facts would unavoidably apply:
1) The blockchain in backoffice is a facade even though OneCoin Ltd. says it is real-time data of the actual blockchain and
2) OneCoin is running a private blockchain with only one actor, hiding all of the actual data from general public. That kind of book keeping is a database, not a blockchain and has nothing to do with cryptocurrencies.

OneCoinOneLifeFacts said...

I will take this into account indeed.

OneCoinOneLifeFacts said...

And Merry Christmas to all readers of this blog of course! :-)

OneCoinOneLifeFacts said...

"What comes to cryptocurrencies, the whole purpose of a blockchain is that it is a book keeping method that cannot be later altered by any third party. Blockchain can be such only if it is the ultimate authority of the book keeping. That means there cannot be any external book keeping that would be needed for the record to be valid. ..."

Good point. I found this in the FAQ, paragraph "Security" on https://www.onecoin.eu/en/faq. "Coins do not leave the e-wallets currently, they are transferred in the system. If another miner hacks your account – we can track immediately who, find out what happened and how did it happen and restore the balance.".

This is completely contrary to the basic Blockchain and cryptocurrency concept and moreover, inconsistent with another statement on page https://www.onecoin.eu/en/blockchain "The blockchain is based on protocols that authenticate, validate and store information in consistent, unbroken sequences that make the system safer by eliminating any attempts of fraud, duplicity and forgery."