7th January 2017


Please be aware this is our personal opinion,

As we are web developer’s ourselves we have noticed some big difference’s between the two virtual currencies which those who aren’t as experienced in web development may of thought we’re trivial.

These differences may not matter to you however we feel you have the right to know.

  1. TRANSPARENCY; One coin pride themselves on transparency this technically has no benefit to the public, what this mean’s is that governing bodies such as police, parliament etc are able to investigate all transactions, which some might say that’s great it mean’s it will prevent criminal activity in our personal opinion if someone really wants to commit criminal activity they will regardless of transparency or not. What Bitcoin had actually done was made their virtual currency non transparent for us the public by implementing such feature’s this meant for the first time in world history we had full control of our money, and our money could not be frozen, seized or even stolen. This you may say applies to criminal’s not you this is unfortunately incorrect as anybody in the world can have their money taken off the by their government because as crazy as it sounds you don’t own your money which is in a physical bank as the Queen does this is why on a bank note it states this is the property of the royal bank . Bitcoin however had changed this they had created a system where by we the public were able to not only own our money but also own it tax free, I don’t mind paying taxes though you might say this is great however. What are Taxes, taxes are the government taking money from the public and in return stating that they will police the streets etc, policing has been cut but that’s off subject us as a country get charge a tremendous amount of taxes and we have no say in where this money get’s spent majority of the time we don’t agree with where it’s been spent yet your hard earned money has been spent on something you don’t particularly want it to have been spent on. However we just let it happen, where as bitcoin for once in our adult life’s we had been given the freedom to make our own choice’s of where our money went to regardless of whether we choose to use this freedom we have it non the less, with one coin on the other hand you don’t one coin has been officially approved by governing bodies which means it will only be a matter of time before you begin to get taxed on a virtual currency.
  2. VIRTUAL CURRENCY BACKED UP BY A PHYSICAL CURRENCY; One coin claims to be backing up all your virtual currency one coins with a physical One Coin currency in case of emergency to us this sounds like a ridiculous statement to make, a virtual currency is not only a lot more secure than any physical currency this is a fact if your coins we’re to randomly go missing or lost etc they would only have to alter the coding in order to replace your missing money so why would you then feel the need to use a physical currency as a back up plan. We have two theories to this OneCoin either doesn’t have enough confidence in their very own product & service yet they expect you to have your full confidence in their product/service. Any long term successful companies trust their very own products/service’s with full confidence and there they use their own products/services over using other companies offering a similar product/service as if they don’t use their own product/service how are we the public meant to trust the product/service. Our more favourable & more likely theory is if One Coin are really doing as they claim and are by sending a physical Coin to Dubai for every One Coin you own, then we believe they are doing this as now it’s become government approved we feel if their statement is true then they are doing this to either have full control over your money as they actually once again have full possession of your coins/money. Or they are going to slowly convert the virtual currency into a physical currency as governments don’t like virtual currencies for the reasons we’re giving you not the reason’s they claim “I.e terrorists, criminals etc etc” this is all an attempt to put the public off. We however find it concerning how although they have told you that your virtual currency is being backed up by a physical currency. however you can’t track your physical coins, you don’t know where they actually are or if they even exist.
  3. OPEN SOURCE; Open Source is quite a old thing now however it’s become a huge way of gaining trust of your internet based product/service, throughout the internet the reason for this is because fellow developer’s such as ourselves understand the programming languages used in order for their product/service to work & a programming language if you understand it is just like being able to make such products/service’s with another language such as French, or Dutch or Arabic. Therefore developer’s can then go on to the new companies product/service and see how it works, how its built & what it is actually doing. We then either approve or disapprove of what they are doing & explain our reasons as to why to the public in an attempt to let you the public no of any malicious activity etc. One Coin doesn’t let us developer’s check whats really going on so we can inform you the public of anything that is unjust. Where as Bitcoin has been approved by developer’s worldwide publicly as we are able to check of any malicious activity freely due to their open source therefore letting us see behind the scene’s with something like this open source is a huge feature that should be made mandatory however what we will say is for One Coin to release this would be effortless yet due to not doing so would make us suspect that they have something to hide as to have developer’s worldwide approving it publicity creates huge trust in their brands and huge success so you’ve got to ask yourself why wouldn’t they use this to grow if they had nothing to hide.
Back to Top