Bitcoin Forum

I am surprised that Bitcoin hasn't taken off in MLM and HYIP circles yet.  This could be a tremendous market for Bitcoin, one that could be worth hundreds of millions of dollars and one that could bring tens of thousands of new faces to the currency.  Also online payment systems like Liberty Reserve, Perfect Money and Solid Trust pay see Millions of dollars in transactions each week.  Someone needs to make a masice MLm out of Bitcoin and promot it on site like http://Moneymakergroup.com and http://Talkgold.com In my opinion.

Why hasn't this happened yet?

There's a lot of smart people in this community. Newbies looking to start Ponzi Schemes are generally quickly discovered and aren't well received...

Ponzi schemes?  There are many legitimate MLM's out there, many which are multi million dollar companies. 

Want to try and name some?

Other than that, I can't tell if you legitimately don't know what MLMs (https://en.wikipedia.org/wiki/Multi-level_marketing) and HYIPs (http://en.wikipedia.org/wiki/High-yield_investment_program) are..or if you're just trying to get a baseline before launching your own scheme...

Heck no.  I'm not launching anything lol.

My thinking was that the more people we can get involved in Bitcoin the better, and MLM's spread like wild fire meaning ti would spread the Bitcoin idea as well.

Well it appears that Liberty Reserve is now done.  This would be an excellent time to see Bitcoin step in an fill their gap.  That's a $200 million gap!

Hi Rob768, yes There's a lot of smart people in this community who will only play gambling games with bitcoin

but will not touch MLMs` or HYPS all are scams to them. In my opinion HYIPS and gambling are the same. As for MLM some are legit biz but for some reason or another bitcoiners will not consider taking a closer look at them.

I agree MLMs/HYIPs could be a tremendous market for Bitcoin but only if bitcoiners would care to take part in MLMs or HYIPS.

maybe it is up to us very few to bring the MLMers and HYIPers to Bitcoin  ;)

That mlm and hyips programs target low iq people that probably cant understand/trust/use bitcoin , so their developers trying other alternatives.

HYIPS are not the same as gambling to me; HYIPS are pure scams. At some point the HYIP will fail, and if you make money, it means your money came from someone that lost money. The people that lose money are usually people that don't understand what HYIPS are and are new to the game and believe all the BS on the site about how the site owners are "investing" the funds.  HYIPS are straight scams from the get go and we all know it. Those that put money into HYIPS are helping scam unsuspecting people in hopes to make a profit.

I cant vouch for HYIP's, but I am sick of people bashing MLM.

Legit multi-million dollar MLM businesses:
LegalShield
Amway
Mary Kay
Melaluca
Nerium Intl.
5LINX
Herbalife
USANA

All have produced millionaires and I have PERSONALLY met several of LegalShield-made millionaires and six-figure earners.

So please, be mindful before you bash something you don't really understand. I know some MLM'ers out there give it a bad name, but do not judge the whole industry based on a few bad actors.

MLM's are just legal pyramid schemes, that's all there is to it. So long as you have a product to sell, leveled marketing is a fantastic way to earn money by doing absolutely nothing (other than convincing your subordinates to push the product). And having been a part of one during my college days when I needed to earn a bit of extra income, I can assure you being at the bottom rung in an MLM is some serious bullshit.

On the other hand, I presume MLM's are pretty freakin' awesome if you manage to score a position near the top of the pyramid.. ;)

Haha. MOST companies are legal pyramid schemes. I broke this down in another thread a while ago, but it went something like this...


Looks like a pyramid to me.

One of the original pyramid schemes:

http://images.sciencedaily.com/2008/03/080328104302-large.jpg

I mean, it must be..because it looks like a pyramid and all..

I wanted to throw my $0.02 in here.  There's an actual and important difference between MLM and network marketing companies.  MLM (multi-level marketing) companies only pay you down through a certain number of levels in their compensation plan.  Network marketing companies have none of these level limitations in their compensation plan.  It may seem like a small difference, but it's actually pretty huge in real-world terms.

Because network marketing companies have none of these level limitations, it's entirely possible for someone to join the company and end up making more than someone who has been with the company for years.  I've seen it happen first-hand with multiple companies and it blows the whole "network marketing is nothing more than a ponzi scheme" argument out of the water.

looks to me that we all would  have to agree to disagree......

doing this could actually  be a good thing, who else agrees?       PM Me

I disagree danystatic ;)

There is a way to structure a Bitcoin MLM so that late prospects are not hurt too badly, with most profiting, albeit those at the top profiting more so, but that's the nature of the beast.

If such an MLM were devised, I would suggest it to be of utmost transparent and straightforward, therefore at the end, if such came to fruition, few would feel cheated, for lack of a better word.

In fact, in its business model, most alt coins could be incorporated, albeit that'll make it more of an HYIP proposition, but it can still work.

This sounds like the absolute last thing Bitcoin needs. Fuck that shit.

Phinnaeus Gage, I like the way you think as I too would like to see one MLM/HYIP that would not hurt the late prospects too badly.

Well actually there is but it does not take BTC
In the one MLM I am talking about, You buy a product or pay for a service
and you receive money back from 1% up to 10% depending on the merchant.

You also receive or earn .50% from directs and .50% from indirects down 2 levels.

I think MLM/HYIP will destroy the popularity of Bitcoin.

sorry, but I think Speculators are destroying the popularity of BTC

I believe a decrease in the selling/buying value != (is not the same as)  destroying the popularity of Bitcoin
regulations are doing their thing

Quote: "If such....... I would suggest it to be of utmost transparent and straightforward"   

agree on that