Author: chicpencil

Consultant for global business solutions and delivery. Loves business, fashion, music, food, the arts, and culture. All opinions written and twitted are mine and not influenced by any brands or company.
christianity, faith, in Christ, life, money, of God, relationship

What does the scripture say about debt?

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All of us, at some point of our lives succumb to debts. Sometimes, it’s from the financial institution such as credit cards, bank loans, mortgage(s). Sometimes, our monetary debts are from our family, friends, and acquaintances.

This article is not about giving you advice on how to manage your budget and your money; there are so much available resources in the internet for that.

What I would like to share is about the scriptures, relevant to guide you in tackling your debt(s) and how much money you should lend to your family and friends.

When you are the debtor

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Firstly, we are privilege and highly loved that God created us in his image and likeness (Gen 1:27 NKJV). He gave us the intelligence and dominion among the animals; He gave us the talents and resources that we need in order to succeed in life.

As part of adulthood, we cannot avoid debts. Just like getting a degree or specialized skills, working, dating, getting married, having children, explore the world by travels, and buying a car and and a house. Ahh yes, buying a house and a car requires huge cash flow. Unless you’re a child of business tycoons, or part of a royal family, or received a huge sum of money as inheritance.

When will borrowing money becomes wicked?

When we abuse the resources given to us by God, when we don’t manage our money well and purposely over accumulate debts, and when our borrowings are higher than savings and assets due to materialism and addiction, that’s when we don’t represent God. And that’s when we become poor. The book of Proverbs 22:7 tells us:

The rich rules over the poor, And the borrower becomes the lender’s slave.

Sadly, there are people in our lives who belong to this category. They can be our friends, family members, and people we just know. Many of them are in the business arena, or commonly in the work force. Because of the rule that when you don’t wear the bling, you’re not in. When you are in highly competitive environment, and you allow yourself to drift in with your peers norms.

Psalm 37:21 NKJV tells us,

The wicked borrows and does not repay, But the righteous shows mercy and gives.

In essence, when we decide not to pay back the people or institution(s) whom we owe, that is when we become wicked in the eyes of people and God.

No one is exempted from paying debts, even a person who filed for bankruptcy is required to pay off his/her debts. We can use all the legal and emotional methods to get away from paying our debts, but there’s one person who knows our heart. And that is God. He knows our heart more than we do. He knows if our hearts are righteous and wicked.

Living beyond our means is the common factor of hoarding debts. Another reason sometimes is when we allow other people to decide and manage our resources rather than consulting God on how to run it.

In situations when we need to borrow money, only borrow the amount that wecan afford to pay.

When you are the lender

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Like many of us, I was once in a situation when I allow a family member to borrow a quantifiable amount of money. For me, money is important especially when it is a result of hard labor, I valued and grateful for every penny I’m paid as a consultant. When my debtor decided not to pay, it’s a big rage in my heart. I felt betrayed because I was promised of repayment which will not happen. Not now. Not ever. It became a grudge and I’ve hold it in my heart for sometime.

Until, my mother asked me, before she died, not to ask for repayment. Instead, give away and forget about the debt. Forgive. And avoid family feud. I cried hard, but I gave in to what my mother wanted. I seek God. After a while, my heart was healed and I just moved on with life.

As we ran our ministry, as we listen to people asking for help, we’ve faced people asking for financial help, some will be borrowing money and promise to pay back in couple of weeks or months. What I’ve learned is, when they missed out their promised payment date, repaying you or repaying the debt is not in their priority list in their current situation. As such, before giving a person a loan, it is important to ask, what is the purpose of the loan? Scripture tells us,

Proverbs 22:26 NKJV Do not be one of those who shakes hands in a pledge, One of those who is surety for debts

It’s a bad idea to be a guarantor of a loan; especially when you do not have the capacity to pay someone else’s debt. As such, before saying ‘yes’ to people borrowing your money, you have to assess if they can repay you. Some will say they will repay you within the day, within a week, within a month. A wicked debtor will give you the promises you needed to hear just to get the loan. Always remember, people borrow money because of the shortage they have. And people will change heart that even God can’t supersede because He gave us our free will. As such, as a lender, only loan the amount of money that you can afford to give away.

Lastly, when lending money to the poor, do not charge interest.

Exodus 22:25 NKJV If you lend the money to any of My people who are poor among you, you shall not be like a moneylender to him; you shall not charge him interest.

God is not happy when you take advantage of someone else’s misfortune. As such, money lending is a high risk business. Firstly, there’s no guarantee that you will recuperate the money you give as loans. Especially, when there’s no written agreement. Second, you should not give interest to people borrowing because of misfortunes – hospitalization, funerals, and the like.

The golden rule of all when it comes to borrowing and lending,

Romans 13:8 NKJV Owe no one anything except to love one another, for he who loves another has fulfilled the law.

 

 

Til next time.

Au revoir.

christianity, competitive advantage, faith, in Christ, inspiration, international business, life, love, of God, psychology, relationship

My Four Years After Opting Out

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In mid-2013, after 15 years of working in the Information Technology (IT) Industry, I decided to cool off from my solutions advisor role and take a much-needed break from the corporate world. Like the majority of  working adult population, I was working non-stop right after I achieved my Bachelor of Science in Computer Engineering degree last 1997. It was my belief back then that having a full-time job is what I need in order to support my family, paying my rent, and settle my debts and bills. I can’t stop working and I have to climb the corporate ladder and that includes dealing with office politics.

And so it was, until 2012.

After I settled down and got married in September of 2012, like many high-achieving women in the workforce, family care was placed in my top priority. A month after my wedding, I was contemplating of “opting out”. If I continue my corporate role involving frequent travels, I believe my marriage may not work out. It is my personal conviction that the first year of marriage is highly critical as it’s the era of adjustments, understanding, compromise, and acceptance. I’ve learned it from my past failed relationships due to my lack of “quantity” of time. My ex-manager Ashok was surprised when I handed my resignation letter; I was saddened too, as he was a good and caring boss.

Leaving the corporate world especially when it’s your dream company is considerably heart-breaking. But weighing the situation, facing a failed marriage will be more traumatic.

I am considered blessed as after leaving SAP, I was offered to be a flexible delivery consultant by Claylogixtech Malaysia. I didn’t realize that it’s the kind of flexible time focused on project implementations and customer’s maintenance with a little of presales role is the type of  spur I needed at that point.

Me and my husband tried to conceive. However, factoring the age and realizing blood RH incompatibilities lead us to the practical decision that having kids on our own will be dependent on God’s will unto our marriage. Somehow rather, it lessened the marriage stress and just be ready to respond to family relatives questions during gatherings. We belong to the norm of Asian culture that having our own children (meaning, own flesh and blood) is a must during the marriage.

Now, here are some of my practical derivatives of life lessons learned in the last four years:

  • Time management

Time is the most precious commodity that we shouldn’t afford to waste. As I was surrounded by humongous amount of choices,  I saw myself doing all things at once since you know, my own time is in my hands. I had a hard time finishing the projects that I started. It’s definite that some trusts were broken due to failing to deliver. I realized that when you are working for yourself, it is utmost critical to learn to prioritize, delegate minor tasks that I feel isn’t worth my time, and of course, learn to say no to those requests or business opportunities that isn’t my expertise or I’m lacking of knowledge. When you’re in your 40s, it’s best to focus on those activities that will value your time and self.

  • Every penny counts

Being prudent is one of key factors that will determine a person’s success. When I was paid every month and bonuses coming in, I put in savings for the rainy days. Though at times there’s that want to overspend to satisfy the thirst for shopping branded items, I still make it a point to have some money in the bank. Well, that attitude came handy in the last four years. I had the courage to leave the corporate world as I didn’t have home mortgage to pay, we decided to rent room instead of whole flat, personal and credit card loans were manageable.

So, being prudent served me well in the long run. The only change I had to do is to shop less and not to be mindful of the fashion trend. I slowly changed my wardrobe to less clothes but quality pieces.

  • More Friends

It is normal to disconnect with corporate friends when you’re no longer working full time. I realized my circle of friends have increased. As you venture entrepreneurship, you will be surrounded by fellow entrepreneurs just the same. I still keep in touch with ex-colleagues through Whatsapp and social media; having coffee and dinner from time to time. Basically, you will have mixture of friends, from ex-colleagues to new found friendships and connections.

  • Be grateful

Blessed are the poor in spirit, for theirs is the kingdom of heaven.  ~Matthew 5: 3 NIV

My spirituality deepened during the last four years. I’ve finally ventured to one thing I’ve been wanting to do since I was 26 years old. That is, to serve God. Every year, me and husband conducts outreach program(s) to Philippines. We’re privileged enough to be supported by our church, Moriah Assembly of God, to be missionaries for a month to the northern part of Thailand. It’s not an easy journey but God is truly awesome! So we’ve named our business EL Hannora (which means Awesome God).

Serving God has been my most rewarding decision.

I will always be grateful to God, my hubby Gnex, my family and in laws, friends, biz partners, customers and Mr. Hew Keng Woon, and the staff of Claylogixtech Malaysia and Positive Domain.

Jumping out of the corporate band wagon is scary to death. There’s a gigantic worries and uncertainties because it is a make it or break it moment. With the binge of time, we cannot deny the unspoken norm that you have a slim chance of getting back your position and compensation when you hit 40s and above. The workforce competition is higher and employers prefer the older millennials due to focus, energy, and drive.

Opting out from the corporate and workforce isn’t easy. You will need tons of courage and faith to get by. However, if you survive the adversities, it’s one of the unforgettable milestones in your journey of life. I do not know what the future holds. However, one thing I can say is when you serve God, everything is uncertain. That’s where your FAITH kicks in. If God can feed the birds in the sky, why not us? It only takes us our humility and obedience.

Here are some of the motivational songs that helped me get by for all the ups and downs of life.

‘Til next time. Au revoir.

christianity, faith, in Christ, life, of God

The Box Up God

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Back in the 1990s when economies started to flourished, we’ve seen the rise of countries whose culture focused on God. America for one belonged to the list. America, the land of opportunity, was the most coveted immigration landing point from the citizens of poor countries workers and refugees alike.

In the 1990s the world seen the concept of free markets where blue collars can become millionaires through hard labors and self disciplined. We’ve seen the rise of elites most of which are devotees of God. Christianity was the biggest population among world religions. Christian missionaries get the ticket to travel the world. We can see God everywhere especially in television. Everybody says God, God, God…

As the world economically progressed, the concept of God seem to have fade. We humans have inherited India’s caste system in terms of education. Our identity somehow has been tied up with what we do. Noticed during conversations when there’s always the emphasis of the university or college degree we’ve finished, what industry we’re working, who are we affiliated with. Those who are unfortunate and didn’t complete a course of study are cast out from the white collars.

Today, the world is financially rich. There are more billionaires the world has seen. But sadly, the world has also become full of labels. More distinctions – whites, blacks, brown, yellow skin colors. Blue collars, white collars at work. Educated people has more voice.

In the world of Christianity, pastoral services has also become a form of job. Less of passion more of job responsibilities. Christian churches have become corporate world implemented with key performance indicators or KPIs. These so called human made KPIs are a measure of performance benchmarks for the church pastors – number of converts, number of baptism, church attendance, increase in the church memberships, etc. When a pastor achieves his/her KPIs, he/she is a good pastor probably a candidate for a pay raise. Simply put it, our societies’ culture are now embraced in the church instead otherwise. Pastors are somehow labeled based on their Bible School qualifications and achievements. The higher education you have, the more qualified you will be.

What are we Christians have we become?

As I can remember, Jesus chose his disciples based on their heart, not their education. If Jesus wants the easy way out and wants to deliver God’s message to the world flawlessly, he should have chosen the high Jewish priests because people will listen to them due to power and authority.

If God is so concern about eloquence in delivering His message with brevity and charisma, then there wouldn’t be any Moses.

God chooses people with the heart of obedience and faithfulness regardless of color, education, and physical abilities.

There’s a danger on what our church and society has become. As we embraced our own personal preference or prejudice, we’re hurting God as we’re boxing Him. It’s clear to some churches, that the voice of the people has become the voice of God. Where the fate of the church are dictated by the majority corporate members and less of prayers and fasting.

Let’s be careful of our personal preferences because the devil has many forms. People in the church tends to listen more when the speaker is of scholarly value. When a person’s charisma is easily mistaken and labeled as God’s gifting.

How do we know when we’re boxing God?

  • When we place our judgement and wants on top instead of God. Is it our carnal nature?
  • When God’s works and answers are based on what and how we want Him to respond
  • When we asked God for answers and we ended up getting inputs only from the educated ones. Because sometimes, God uses the blue collars and the unlovable to deliver His message to us
  • When we decide who are God’s prophets instead of God’s anointing

Let us embrace God for what He is. He’s our father in heaven, the Alpha and the Omega. All things came from Him and all things will end by Him. He’s not a spirit or a deity who’s supposed to work for us. He’s our father, our source of life.

Let’s not box Him up.

 

 

 

how to, OneCoin, technology

OneCoin: Upload Your KYC Documents

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In OneLife & OneCoin, it is important to comply with the company’s policies.  One critical requirement is to upload your KYC (Know-Your-Customer) documents as soon as your account is activated.

Your KYC documents identify you as the account holder. A concept similar when transacting to the bank or any financial institution, you need to identify yourself as the owner of the account.

If you have multiple OneLife/OneCoin accounts, you will only upload your KYC documents once. Follow the steps below in uploading your KYC documents in your OneLife Backoffice:

Steps:

  1. Login to your OneLife backoffice – https://onelife.eu

2. Once you logged in successfully, you will see your backoffice Dashboard. Hover in to your left, and click on ‘My Profile’

3. In the ‘My Profile’ page, click on the ‘KYC’ tab

4. Click on the ‘Choose File’  button, and locate the scanned copy of your Identity Document. Click again on the ‘Choose File’ button and locate the scanned document that will support your Proof of Address. Once you have chosen the files, click on ‘Submit’ button.

5. According to OneLife’s website, you can use the following as your identity document:

  • National ID Card
  • National Passport
  • International Passport

Additionally, any one of the documents is accepted for the Proof of Address:

  • Utility bills (electricity, gas, water, waste, etc.) less than 6 months old
  • Document issued by a Bank less than 6 months old
  • Document from Municipality/Government Agency/Tax Authorities – most recent
  • Not expired National ID Card/Passport (all sides) if the address is shown in the document
  • Other documents issued by the Government where the names and the address are shown

As I mentioned, if you have multiple OneLife/OneCoin accounts, once you uploaded and submitted the required identity and proof of address documents, you can use that account as a reference KYC for your other accounts. Just input the Username and password of the mentioned KYC reference account.

That’s about it. Once you uploaded your KYC documents, you will just have to wait until your KYC status is APPROVED.

 

‘Til next time. Au revoir.

*We are OneLife Independent Marketing Associates. This article is based on our own independent understanding and opinions. If you have questions about OneLife, please contact your referrer.

*OneCoin is a Know Your Customer (KYC) transparent cryptocurrency. If you want to know more about OneCoin, please visit its official website at https://www.onecoin.eu/en/.

how to, server, technology, tips & tricks

VMWare: Temporarily Mount Your Shared Folders To Your Guest OS

chicpencil

When working with your VMWare machine, you will be faced with file exchanges from your host OS to your guest OS. Now, VMWare folder sharing in Windows environment is way easy. Unix or Linux guest operating systems, however, will require you to mount your host shared folder(s) to your guest OS.

This article will guide you to mount your host OS shared folders to your Unix/Linux guest OS.

Steps:

  1. In your Unix/Linux guest OS, login as ‘root’ and create your mount directory:

vm1     In this example, I’m creating a directory called ‘shares’ in the root of my Linux filesystem.

2. In your VMWare menu options, go to the virtual machine Sharing menu and add your host OS folder:

vm2     In my example, I want to share the ‘Downloads’ folder of my Macbook to my Linux guest OS.

3. Go to your guest OS, in my example, in my Linux guest OS, open a Terminal session. Login as ‘root’ and mount the ‘Downloads’ folder to my Linux ‘shares’ folder:

vm3

Do note that this type of mount is just temporary. When I reboot my virtual machine, this mount will be gone.

IMPORTANT NOTE:  The default location for your mounted shared folder(s) will be in /mnt/hgfs. Regardless of reboot, you will still able to access your shared folder(s) in that location.

4. After you mounted your shared folder, verify that it is successful.

vm45. That’s it, you have successfully mounted your host OS shared folder(s) to your Unix/Linux guest OS.

So why would you need to do this if you can access your shared folder(s) in /mnt/hgfs?

There are scenarios when you want to control where you want to access your shared folders. Sometimes, the administrator restricts the permission of /mnt/hgfs if there are too many shared folders.

 

‘Til next time. Au revoir.

business, OneCoin, technology

OneCoin’s Benefits

chicpencil

In my previous article titled “Why OneCoin? A Cryptocurrency Analysis”, I’ve provided concise and detailed reasons why OneCoin is a good opportunity if you’re scouting for a worthy cryptocurrency.

So, the million dollar question now is, do you a need cryptocurrency? Or do you want a cryptocurrency?

You may have been invited to a talk for cryptocurrency business by your friend or your family may have presented you a very exciting money making opportunity in the digital currency world. With all the excitement and enthusiasm, were you convinced?

All of us have our own buying preferences. Do you need it? Or do you want it?  Which is more important?

When buying cryptocurrency, you have to ask yourself?

  1. Are you familiar with cryptocurrency?
  2. Do you know how to trade (currency, stocks, cryptocurrency)?
  3. Do you need digital currency?
  4. Miscellaneous questions like:
  • Are you looking for passive income?
  • Do you have the time to build a direct selling business?

OneCoin cryptocurrency understands the gaps between the IT, finance, and the vast majority of the global population who are non-IT, who have minimal or no financial trading background, and even those who are unbanked (not covered by any financial services).

So here are OneCoin’s benefits:

  • Financial education

One thing I admire about OneCoin is that the company is focused on educating the masses who are not finance and technology savvy. Before you receive OneCoin, you will buy OneAcademy’s educational package(s) distributed by OneLife Network. It’s really up to you what level of Finance and stock market do you want to learn. With a higher level of Finance e-learning, you will receive more promotional tokens giving you more opportunity to mine OneCoins. Learn more about OneAcademy’s courses here.

  • Coin Usability

Since there now almost a thousand of cryptocurrencies in the market, it is not easy to choose which cryptocurrency is the best. One of the criteria that I always look for is the coin usability. Like a fiat currency, a cryptocurrency should be accepted by merchants. Without merchants, the coin will be worthless. With OneCoin’s recently launched of DealShaker Platform, more than 10 thousand merchants are registered business with hundreds of deals available. Merchants accept OneCoin(s) plus cash.
hotel_manila

  • Coin Exchange

You can trade your OneCoins at xcoinx.com; that is OneCoin’s exchange platform. As of this writing, xcoinx.com is offline as the company is preparing for 2018 going public.

  • The coin value increases

The value of OneCoin is determined by the concept of supply and demand. As more people demand the OneAcademy educational packages, the OneCoin value will increase. When we first joined OneLife and bought our education packages, the value of the coin was Euro 5.7; at this point of writing, the value is at Euro 7.85. OneLife network is now reaching 3 million members.

 

Different cryptocurrencies have different value propositions. Like OneCoin, there are multiple cryptocurrencies marketed using direct business multi-level marketing approach. Regardless of business sales force approach, in my opinion, cryptocurrencies should be an alternative to fiat currency (paper money), which means, the coin not only be traded but be accepted by a wide variety of merchants.

pexels-photo-159991

onelife_logo

*We are OneLife Independent Marketing Associates. This article is based on our own independent understanding and opinions. If you have questions about OneLife, please contact your referrer.

*OneCoin is a Know Your Customer (KYC) transparent cryptocurrency. If you want to know more about OneCoin, please visit its official website at https://www.onecoin.eu/en/.

* Related Post: Why OneCoin? A Cryptocurrency Analysis

 

business, how to, OneCoin

OneCoin: How To Send Your Tokens To Mining

chicpencil

When you sign up for OneLife’s educational package(s), you will be given promotional tokens based on the package that you purchased. Remember, the number of promotional tokens are based on the company’s decision. To view the number of promotional tokens and OneAcademy’s educational packages, you can visit OneAcademy Products.

The promotional tokens will split if you decide to wait for the split prior sending the tokens to mining. When a split happens, the promotional tokens in your Token Account will double in number.  You will want to send the tokens to mining when you decide to complete the number of splits in your account.

This article will show you how to send your promotional tokens to mining. The steps covered here are from internet browsers opened from laptops or desktop computer.

Steps:

  1. Login to your OneLife account at https://www.onelife.eu/en/.

onelife_login

2. Hover from your left side of your screen, and click Dashboard.

go_to_dashboard

3. In your Dashboard screen, click on your Tokens Account

dashboard

4. In your Tokens Account screen, look at the right side and you will see the Mining Shortcut

mining_shortcut

5. From the Mining Screen, indicate the number of tokens that you want to submit for mining. The number indicated here is just a sample.

submit_mining

6. After you click Submit, go back to your Dashboard. When your coins are mined, it will appear in your Dashboard.

dashboard2

 

*We are OneLife Independent Marketing Associates. This article is to educate the OneLife members who want to submit their tokens to mining. If you have questions about OneLife, please contact your referrer.

*OneCoin is a Know Your Customer (KYC) transparent cryptocurrency. If you want to know more about OneCoin, please visit its official website at https://www.onecoin.eu/en/.

* Related Post: Why OneCoin? A Cryptocurrency Analysis

 

foodblog, product review, Uncategorized

Product Review: Go Raw Live Apricot Bar

chicpencil

Apricots are one of my favorite fruits mainly due to its variety of health benefits. In terms of taste, it stands out for that sweet-sour blend that lingers in your mouth. I always have the dried apricots in my bag everywhere I go. The only downside of dried apricots for me is that you can never have too much. Due to its high fiber, it can sometimes act like prunes and will send you to your toilet in a just matter of hours.

I received the Go Raw Live Apricot Bar from Try and Review (www.tryandreview.com). I was selected to test the product and rate it and of course, give my point of view.

img_20161202_1447230

What’s interesting about this product is that it’s organic. It’s also claimed as Non-GMO verified, Vegan, and Gluten-Free.

I was overseas when the product reached my place so it took a couple of days before I opened the product to taste. And a good note to share is, when unopened, the product doesn’t require refrigeration.

The Taste

I have the notion that organic products are bland. However, this product retained the apricots sweet-sour taste. It’s just like eating the dried apricots. Now, this product has the flax seed mixed in the bar which kinda added a tad, just a minor texture of roughness to it. The flax seeds make you chew more coz you want to bite the small size seeds. Overall, I don’t have any issue with the taste. The sweetness is natural, I didn’t taste any sugar added in the product.

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The Packaging

The packaging is made of plastic. It’s not very thin and not so thick. It’s just nicely wrapped that prevented moisture from coming in. It doesn’t easily open so we can see the company made a good effort in ensuring the freshness of the product. Good job here I must say.

The Price

As what I noted, it will be priced at SGD 5.00 per piece. For an average income consumer, I must say the price is a little steep. The company or distributor has to refine the price of the product. It’s a great product, but may not be that affordable to the masses.

Overall Review

The Go Raw Live Apricot bar is a very good healthy product. I would recommend it to friends who prefers to have some form of dried fruit in their bags for healthier snacking. The taste is good, the packaging is good, and the price is affordable to those who focus more on the health benefits and doesn’t mind the price.

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business, OneCoin

Don’t Be A Victim Of MLM Scam

chicpencil

This is the era when scam incidents soared high. This happens especially in network marketing (MLM) business where the rule is to speed up the money-making through recruiting.

To avoid being scam;

1. Ensure that the product/services/opportunity is real. A physical product should be present or a service has been delivered or truly achievable.

2. If you are offered with a type of INVESTMENT through MLM business, check if the company is present (legally registered) in your country. This ensures that you’re covered by your country consumer law.

3. If you’re the questioning/research type of consumer, do your diligent study of the product/service/investment offered. Let the independent representative answer your clarifications especially if it involves a considerable amount of money.

4. Be realistic with yourself if you have the time and energy to do network marketing. MLM pyramid scheme entails lots of time and energy. A good direct selling company will have the option to just be the consumer (building network team is completely optional).

5. Only venture in opportunities where affordable; only place the amount of money that you can afford to loose. Remember, there’s always the risk that we should measure.

6. Is is very important to PRAY. Money is hard earned. It’s always best for God to be involved in your business ventures.

Have a restful and enjoyable weekend everyone!

28701827771_b28866466f_o

 

Til next time. Au revoir.

 

business, international business, OneCoin, society, technology

Why OneCoin? A Cryptocurrency Analysis

chicpencil

In March 2016 I received an invitation from my cousin Dolly in Austria introducing me to the world of cryptocurrency. Back then I merely know BitCoin (in short, I didn’t buy it in 2009). So my cousin shared some information about cryptocurrency and the product that she endorses – OneCoin.

At first, we were reluctant to buy in any cryptocurrency but then again, who knows, this industry seems to be worthwhile looking into. So, my husband Gnex and I, discussed and decided to give it a try. Few months after, I was approached by few friends to join the cryptocurrencies they endorsed. Somehow it made me realized that cryptocurrency industry seem to be gaining momentum and I only have a tad knowledge about it. So I decided to study what cryptocurrency is all about and how it can help or probably change the future of finance. I studied various cryptocurrencies in the market and that includes OneCoin. I’ve observed and studied other digital currencies and we decided to stick to OneCoin.

OneCoin is a cryptocurrency that uses blockchain technology. A blockchain technology is somewhat a digital ledger that uses hash algorithm requiring verification and recognition from the cluster of computers involved in identifying, approving and recording the transaction. Imagine yourself going to the bank and perform over the counter transactions. Before you start your banking transaction, the teller will need to verify your identification (it is called the Know Your Customer – KYC procedure) and your account number. Now, in digital cryptocurrency, you do not need the bank tellers or the bank, as long as you know your account, you can perform your financial transactions. The blockchain mechanism will perform the identification, hand-shake, approval and journal your completed financial transaction.

What are digital currencies used for?

Digital currencies or cryptocurrencies target markets are online payments, global remittances, and money transfers. Most of which deals with banking and financial services. There will be upcoming markets for cryptocurrencies, only if this method of payments will be accepted by merchants or probably banks.

                                                                            Online payments

There are ginormous digital currencies in the market. All of is which is lead by BitCoin. However, BitCoin itself still have some flaws such as anonymity. Combine with its high selling price, it’s not wise to put your money on BitCoin. In the end, consumers resorted to searching for alternatives.

I will not write about the shortcomings of other digital cryptocurrencies, this article will focus on my analysis of OneCoin using SWOT method to prove why OneCoin is worthwhile looking into. I’m not paid by OneCoin to blog, this article does not contain incites from the brand. I’m merely expressing my opinions and choose to share my understanding of the value proposition of OneCoin as a technology and OneLife as a company and why we’ve chosen OneCoin.

                                                                          Grow your coins

 

STRENGTHS

  • OneCoin creates value by educating its members. While the trading or OneCoin exchange is the buzz of the internet, OneLife’s offering is educational packages. OneLife’s goal is to educate the vast majority of humanity who have none or minimal knowledge about finance and trading. When you buy an education package, you will receive the corresponding number of tokens which you can trade or “mine” to get the cryptocurrency coin – OneCoin. I believed this is one of the company’s strengths as it gives the members the audacity to decide for themselves as to whether take higher risks or invest with a calculated risk involved.
  • OneCoin is a closed platform. Coming from an information technology (IT) background for 17 years, often dealing with projects, I often faced debates whether to choose an infrastructure of open source platform or that of the enterprise. Open platform has its own advantages I agree. However, my main concern for open platforms is that it is prone to code changes by the community. Simply put it, if it is an open platform, it is prone to abuse by the dubious folks from the web. Remember, cryptocurrency is all digital, it might be difficult to trace frauds in an open platform. You do not want the blockchain of your coins to be hacked and later find out your money has gone to waste. A closed platform indicates proprietary rights to the code involved in the blockchain. Having a closed proprietary code for blockchain protects the members from fraudulent transactions and hackers. It is easier to trace as OneCoin maintains its own codes.
  • Know Your Customer (KYC) is important. The digital currency industry still doesn’t appear to have regulatory controls. For us, know your customer (KYC) procedure is important. This is to protect the trading members from transacting with criminals, terrorists, and dark webs. If your digital currency of choice does not employ KYC procedure (completely anonymous), there’s a likelihood that you might get involved in dubious transactions. In OneCoin, you won’t be able to perform financial transactions without the company approving your KYC documents. In short, the company checks and verifies the identifications of its members. Therefore, the members’ financial transactions can be audited and regulatory compliance can be implemented.
  • Transaction Transparency. I am not sure how many cryptocurrencies do this, but OneCoin’s claim of embedding your KYC documents in the blockchain transaction is what I believed sets OneCoin above its competitors. Remember that cyber crimes keep on increasing through viruses, trojans, phishings, and malwares. Currently, another cyber crime emerged called RANSOMWARE. Ransomware happens when cyber criminals or hackers are able to access your computers and files when you click on email attachments or click on website links. When the cyber criminal or hacker is able to gain full control of your computer, tablet, or smartphone, you will receive a message asking for money or a fully anonymous cryptocurrency as a ransom. Pretty much like your computer or digital device has been kidnapped and you have to pay to ransom your critical data. This is not to smear the reputation of BitCoin but since BitCoin now have more vending machines (ATM), highly valued, and fully anonymous, it is the most wanted cryptocurrency by the cyber criminals, money launderers, and various sanctioned activities.
  • OneCoin’s promised of 120 billion coins. People would find this claim ridiculous and crazy. However, bear in the mind that the successful businesses started with ridiculous and crazy ideas. Cryptocurrencies and trading employ the law of supply and demand. Having more coins can indicate the company’s sustainability of providing more coins in the longer period of time. In this way, the value of the coins will not bubble and will not become volatile. It is still a caveat that there’s no guarantee. OneCoin’s success, in my opinion, will come from the hard work of the founder, the management, and the members.
  • OneCoin lets you build your direct selling business. The human behavior is to share what appears to be something valuable, isn’t it? If you are looking for business opportunity through direct selling (network marketing), OneLife provides bonuses through referrals. You can become OneLife’s Independent Marketing Associate (IMA). However, do note that being IMA is optional. Meaning, if you do not want to participate in the bonus schemes, you can sign up and buy the educational package excluding the IMA.
  • The Founder and CEO is visionary. The company’s strength and sustainability will come from the founder’s vision and the company’s mission. I have a little knowledge of Dr. Ruja Ignatova’s background, so I did a search of a worthy video to share in order to understand her visions of the company. Here’s her early interview from MLM News:

  • OneLife’s Corporate Social Responsibility. I believe in companies who gives back to society. OneLife has its social arm in doing charities to the needy communities.

 

WEAKNESS

  • OneCoin is accused of a SCAM and a Ponzi Scheme in the internet.  Search OneCoin over the internet (regardless of search-engine) and the first couple of result lines are headed as OneCoin is a scam. Next, it is a Ponzi scheme. Now, remember that Ponzi schemes and scams refer to the non-delivery of promised product or service(s). When you put your money in OneCoin, what you’re buying are the educational package(s) and not the tokens or coins. The IMAs are selling the said educational packages, or OneTablet (Digital device). If the IMA sells you the tokens or coins, it violates the IMA terms and conditions. If you feel that OneCoin was misrepresented, you can file your complaint by sending an email correspondence to support@onecoin.eu so an investigation can be done. OneLife as direct selling company has thousands (or probably millions) of IMAs. Therefore, it is pretty important to know your IMA before signing up. Remember, your IMA will be your future business partner should you decide to become an IMA when signing up with OneCoin.
  • OneCoin is a fairly new company. The company is less than 2 years old as of this writing. However, OneLife’s member is more than 2 million in numbers (according to OneLife’s website). Definitely, there’s a risk when you join OneLife considering the age of the company, but having more than 2 million members somehow signals guarantee that OneLife will stay in the business for a longer time. How long? No one can guarantee you that. It is of utmost important that you understand the risk when joining or supporting a business regardless of which kind.
  • OneCoin’s Main Headquarter is in Sofia, Bulgaria. Yup, it is in Europe, particularly in Russia. They are in different timezone compared to us in Asia. OneLife has 2 more offices – Hong Kong and Dubai. In my opinion, it is a good move by the company to ensure the members the company’s presence in Asia and the Middle East. You have to ask your IMA for OneLife’s countries of operations. If you belong to a country where OneLife doesn’t have operations, it is always advisable to take caution as there may not be consumer protection in my opinion.
  • OneCoin is only traded in OneCoin Exchange. In my opinion, this is a weakness but it’s also a strength. I’m guessing the reason behind OneCoin not present in the public exchanges is to avoid the bubble in the coin value. Law of supply and demand: The lesser the supply, the greater the demand. It’s pretty much what happened to BitCoin. At some point, BitCoin value reached US 1000+. It bubbled up, it also bubbled down. If you’re going to check the cryptocurrency exchanges, there’s a big gap between the price of BitCoin and the rest of the digital coins. It creates challenges to the lower valued coins. If you buy a digital coin of US 0.10 value, what’s the probability that the value will rise? And for how long? OneLife has a different vision in my opinion. A company with long term vision does not need to hurry to be traded publicly. In my opinion, OneLife as a company aims to be in the business in the longer term.

 

OPPORTUNITIES

  • More offerings from OneLife. OneLife’s offering started with educational packages. Then followed by OneTablet. The company signals more business opportunity and a larger platform. We will have to wait and see what are OneLife’s future offerings and acquisitions. It is important for the members to keep abreast with the company news and updates. You can check with your business partners for more information. You are also advised to subscribe to OneLife’s YouTube channel to listen and understand where the company is heading.

 

THREATS

  • More and more cryptocurrencies and business models.  It is definite that more and more cryptocurrencies will emerge. It’s good news for consumers, it means more choices. Different business models such as direct selling (network marketing) will also come up with efforts to boost up the revenue of the other 600+ cryptocurrencies of lower value than BitCoin. Middle companies whose aims are to sell various coins will come into play as well. If you’re a current IMA or contemplating of signing up as one, I recommend that you read the terms and conditions of OneLife. Avoid the scenario of “conflict of interest”. OneLife takes serious actions on IMAs involved in such mentioned activities.

 

LAST WORDS

Some advisory;

  1. Before joining any direct selling business, it is important that you understand the product. This is to avoid mistakes in the future when for some reason you change your mind. Check as well, if there are “cooling period”. Cooling period is the number of days that you can decide to cancel your subscription or purchase(s) without incurring penalty.

  2. It is the IMA’s responsibility to respond to your queries. If you have some questions, list it beforehand and get clarifications before signing up.

  3. When purchasing an educational package, ensure that you have made calculated risk. Meaning, only buy the educational package that you can afford to loose.

  4. Being involved in cryptocurrency business, the risk can be considered high. As always take caution in deciding the level of risk that you want to make.

  5. It is important not to join in haste. OneCoin maybe a good news but remember to evaluate whether you need cryptocurrency in your current and future affairs. If you’re spiritual type of person, I recommend that you pray about it first before giving it a yes.

     

A great news!

OneCoin is currently on bonus mode. The coins that you received including the coins that you are still waiting, will be doubled this coming October 1st 2016! Also, when you place your tokens into mining before October 1st, the expected number of coins will doubled too! We feel this is something you want to check into.

My husband is a registered IMA. You can sign up for free without obligation (no credit card information needed). You will only need to pay when you want to activate your account to receive your educational package access and its corresponding tokens.

Click here to sign up free and understand more of OneCoin before fully deciding to join.

 

Til next time. Au revoir.