Ep02- BTC Killer – Companion Guide For BBC’s “The Missing Cryptoqueen” Podcast
October 06 2022 - 7:26AM
NEWSBTC
Let’s listen to “The Missing Cryptoqueen” podcast together from the
very beginning, as the new episodes arrive. This second one
presents new facets of Dr. Ruja’s story and amplifies the scope of
the podcast. Good news, “The Missing Cryptoqueen” might be even
more interesting than we previously believed. As BBC presenter
Jamie Bartlett puts it, “we thought we were looking for a missing
billionaire, but now we seem to be entering a world that’s far
murkier than we thought.” Related Reading: Ep01- Dr. Ruja –
Companion Guide For BBC’s “The Missing Cryptoqueen” Podcast
NewsBTC’s “The Missing Cryptoqueen’s” listening group is now in
session. In the first few minutes of this episode, Dr. Ruja
Ignatova says: “In two years, nobody will talk about bitcoin
anymore.” A line out of the book of every crypto scammer out there.
Remember, you can download episodes directly from the BBC, or
listen to “The Missing Cryptoqueen” through Apple, Spotify, or
iVoox. About “The Missing Cryptoqueen ’s” Episode Two, “Bitcoin
Killer” This podcast moves fast. It’s only “The Missing Cryptoqueen
’s” second episode and the whole OneCoin fiasco is already breaking
apart. The producer and the presenter move between telling the
story of what happened and the actual search for Dr. Ruja. The team
went to Bulgaria and asks around about the controversial character.
Every time they mention her, Bulgarians start to speak loudly among
themselves. They are going to places that she frequented,
sure, but everyone seems to know about Ruja Ignatova. In any case,
“The Missing Cryptoqueen’s” audience is not exactly a
cryptocurrency-savvy one. The episode starts with a terrible
definition of what money is, and a shaky explanation of how
blockchain technology works. It’s necessary, because we will soon
find out that OneCoin didn’t even run on a blockchain. This was a
scam through and through from the very beginning. The
podcast/ radio documentary also serves as a living and breathing
explanation of how a Ponzi scheme works. And the story’s
protagonists tell you exactly what happened in their own words. One
of the victims, Jane, a developer turned OneCoin whistleblower, and
Timothy Curry dominate “The Missing Cryptoqueen’s” second episode.
In the episode’s fourth quarter, the team goes to the marina where
the boat Dr. Ruja’s disappeared from was located. The Bulgarians
there mention the mafia. And the developer turned whistleblower
also alludes to it. BTC price chart for 10/06/2022 on Bitstamp |
Source: BTC/USD on TradingView.com An Almost-Always-Present
Characteristic Of A Scam Or Ponzi Besides the lack of a blockchain,
“The Missing Cryptoqueen” points out an almost-always-present
characteristic of a scam or Ponzi: People couldn’t withdraw
or spend the tokens they bought. In this case, OneCoin only lived
in a SQL Database in Bulgaria. The naive investors saw the price
pumping and believed they were making a killing, but their tokens
were just numbers on a screen. They couldn’t exchange them for
other cryptocurrencies because OneCoin was not a cryptocurrency. It
didn’t run on a blockchain. At the time, the team reached out to
OneCoin with these allegations and they denied everything and
blamed the authorities and regulations for their token’s lack of
usability. Classic Quotes From “The Missing
Cryptoqueen ’s” Episode Two – “Bitcoin Killer” “The €10,000 that
Jen invested which she thought was now worth over €100,000 in one
coin was just a number that someone in an office in Bulgaria had
made up and could delete just as easily. OneCoin is not a real
cryptocurrency, it’s just pretending to be one. It’s fake, it’s a
scam, and it could be the scam of the century.” “OneCoin was only
possible because of Dr. Ruja. Whenever we see complicated
technology that we don’t understand, we make a judgment about it
based on things we do understand. Like the fact that the boss was
an inspirational, successful businesswoman. Dr. Ruja’s magic trick
was to use the hype and terminology of legitimate cryptocurrencies.
So ordinary people like Jen couldn’t tell the difference between
the real and the fake.” Extra Material And Episode Credits This
week’s extra material comes courtesy of Investopedia, which
summarizes “The Missing Cryptoqueen ’s” plot as: “OneCoin was a
cryptocurrency-based Ponzi scheme. The companies behind the scheme
were OneCoin Ltd. and OneLife Network Ltd., founded by Bulgarian
national Ruja Ignatova, who disappeared in 2017. However, not
before the scheme raised $4 billion.” Related Reading: Michael
Saylor Brings The Thunder To Venezuelan Bitcoin-Only Podcast And
finally, the episode’s credits: Presenter: Jamie Bartlett Producer:
Georgia Catt Story consultant: Chris Berube Editor: Philip Sellars
Original music and sound design: Phil Channell Original music and
vocals: Dessislava Stefanova and the London Bulgarian Choir
Previous Companion Guides For BBC’s “The Missing Cryptoqueen”
Podcast: Ep. 01 –
https://www.newsbtc.com/news/bitcoin/ep01-dr-ruja-companion-guide-for-bbcs-the-missing-cryptoqueen-podcast/
Featured Image: The Missing Cryptoqueen podcast logo from the BBC |
Charts by TradingView
Mina (COIN:MINAUSD)
Historical Stock Chart
From Aug 2024 to Sep 2024
Mina (COIN:MINAUSD)
Historical Stock Chart
From Sep 2023 to Sep 2024