Bitcoin Forum

Hello,
As we know many last year that MLM is very interested by a lot of people because it's promise a lot of benefit with no hardwork.
The MLM masks is very excessively. And now, they are a lot of parties make MLM system with crypto in their mask. The most easily characteristic of MLM based on crypto we can identify is one, it promising a big return capital of your investation with no logic.
In my country, this scheme are growth with consortium, so they gather a lot of people who common in crypto and then gather the money to invest in crypto MLM project with big capital return they expect.

I mention MLM because it will help the new participants in crypto will understanding this.
Love your money  ;)

MLM very dangerous to join in crypto world, bassicaly dont even get involve with this kind of investment. Every MLM is ponzi scheme where money from previous member use to get paid for new comer. If you reall want to make profit go trading instead or if you not really good or have any experience with it just buy some mining rig and go mining some cryptocurrency.

Yes I agree. MLM very dangerous for crypto futures. This will be make crypto banned in several countries.
So, every MLM system in crypto must not have any spaces.

HSR, this is a blacklist.
You need to pay attention to the token,it is in Australia, but this token is a ponzi scheme,promoting by founder, last year the tokens have a slogan: $1000 at the end of the year. But this year, however, the founders disappeared, removing all social data.

The MLM scheme's usually are on the social media websites, it's a good thing that there is not much of that in this forum.

Yes you are right brother if its too good to be true you better stay out from it. Multilevel Marketing can be a ponzi scheme and do not go with high returns in a short span of time with no work to do or very minimal effort. Even more if they have referral program or something like that. There are lots of ways how to learn in crypto space so there's no reason for you to be a part of that scheme.

You're right. Many ill-intentioned people are deceiving by the guise of encrypting money. There is no technical aspect of the project. They need to pull people. Let more people to be cheated.

Yes, there's not a lot of MLM posts on Bitcointalk.
Because it will soon be deleted, however on twitter, Facebook, weibo these places, these so-called pyramid selling tokens can deceive a novice, Some people will gei their money to buy MLM tokens, These people just cheated.

They are not all ponzi schemes as a basic principle of MLM is to receive some fees from your business partners for bringing new clients and from that fee some percentage is to be reserved for the people above you in the pyramid.... In Crypto world many legit projects use something similar called referrals.

However, as it is unfortunately the rule for a human race, we find a way to spoil everything and hence since Ponzi scheme is basically also pyramidal in structure, many people use MLM for various ponzi schemes, it is easy.....

Hence they are not necessarily bad, but yes - to be avoided in crypto as security is generally very bad even without them.

I think people here are very clear what it is. But many who do not know may be fooled. After being deceived no longer believe the real encrypted currency.

Oh,  my friend participate in such company... He invested $ 1000 and call everyone hr knows to offer "the best deal and chance to become rich within short period of time". But even he has been participating since 2017 and bussines isn't going good)

All they do - trying to attract persons that want fast and easy money. But to earn something you should invite your friends or relatives, who will invest and do the same...

Ouch, sounds like a pyramid scheme then. Too bad for your friend.

Some even go public on some small exchanges. Liar also used a lot of means. We still have to be careful choice of items.

This is really bad. A newcomer like me may be deceived. It seems I also need to know more knowledge and information.

Always keep in mind that investing in cryptocurrency is not a get-rich-right-away program. It takes knowledge, time and most of all, patience. Don't just get carried away by those who offers huge gains in a short span of time. Always take a second thought before investing into. You might get caught on some schemes and lose your hard earned money.

MLM is just good for early start-ups. A lot of people also made some money with MLM based crypto. If you choose to join an MLM based crypto you have to make sure you are one of the first start-ups then once you reach ROI, be ready to pack up your bags and leave. No MLM / HYIP / Pyramiding schemes that are successful based on what was promised. Only those people who started early will enjoy it's benefits but once a number of people will join already it becomes very dangerous and in any second it can go bankrupt. As we all know MLM based cyptos are just dependent on the investment of the new joiner that you have invited. If you are the type of person who is not good in convincing people better not join this kind of scheme you will just loose money in the long run.

Cryptocurrency is a new technology but gets tarnished by these mlm and referral based program like hyip all crypto currency holders should understand that this two cannot go together because there is no chargeback and cryptocurrency is decentralized

They are all Ponzi scheme, those people that fall victim of these are the greed ones. Just look at what happen to all these lending platform where in the world are you going to be paid that much for lending out your tokens, I know for a fact they are going to evolved into something else and some people will still join them

You must be able to leave MLM project at any moment. If they don't give u the ability to leave project this is scam 100%. It is the same like crypto someone earn money when someone greedy buying at the higher price.

Yes, the best way if we still want to participate in this scheme is 'hit and run' trick. We must know that we are the first, predict how long it will be, and then find some downline. After we feel enough with profit that we receive, pack up and leave that project.
But, this is very evil, cause we disadvantageous our downline. I'm still not recommend this action.

I believe that your friend now has pursued by a lot of people (his/her downlines).
It only give short advantage, but in long time it will be so bad for ourselves.

Most of the time, these investors know it's a ponzi scheme.
But they still don't think they're the last players, so they can profit from it, it's a stupid idea, so they don't deserve our sympathy.

Yeah bro, that's very greedy. Invest their money that they are only think the profits, not the risks. That's why no one sympathy

I'm wondering if there are any profitable mlm schemes at all?

MLM is good for few people who got big affiliate network and bring like hundred of people to project and receive profit, yes its not ethic, but they dont care and earn money.

Bitconnectcoin is very notorious on this, they have scammed thousands of millions of millions worth of dollars, their cycle is very shortlived from now on people should learn that MLM and cryptocurrency will not go together, even if defend it as profitable.

Bitconnect was a scam, everyone knows it, but it does not mean that all mlm projects are scam. The majority of ICOs uses afilliate/referral system just to promote their project - it doesn't make them a scam

It's pretty strange but many common people believe that crypto = MLM. Sometimes yes, it really is. But mostly it is not. From the very beginning of my crypto path I avoid such kind of shitty projects and I also advice to everyone to do the same. To be honest many even pretty good and honest bloggers with a lot of followers use MLM projects to earn a huge amount of money  :-\

I honestly agree about your opinion regarding MLM-based cryptocurrencies such as Bitconnect, USI-TECH, etc. My uncle tried to invite me to USI-TECH, but I refused because it's binary structure where you can earn 1% daily for 5 working days for a period of 120 days.

I am not against MLMs (because not all are bad) , I'm just against their scheme on deceiving investors or using Ponzi type strategies.

many people join mlm to reach top place. but your place will always in earth, not in sky.
mlm is how to circulate money without capital but still earn profit. take money from subordinate and it will always go on.
for developer its profitable, for they are that come is bad

I am not against MLM's as well though it's hard to say that not all of them are bad when 99 percent of the MLM's are scams lol.

the worst thing about MLM participants is that they do only know what is the right way to live, earn money, invest (https://cryptodetail.com/cryptocurrency-investing-strategies), and etc

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we all know that MLM scheme is a scam scheme. don't fall for that kind of program. fast money is most likely a scam.
too good to be true