I've been talking with a friend of mine for over two years about investing in Bitcoin. He is not at all interested. He calls it bubblecoin and has a point. Bitcoin will always trade at plus or minus 50% or more and will never stabilize. There is no plan to create any stabilizing factor. Simply expanding the user base will not stop people from pumping and dumping and causing panics. If this were true, then small countries would generally have unstable currencies and large countries would have stable currencies.

Price is psychological and there are no psychological tools to create faith in the price stability, nor is there even any discussion about it. Psychology, sociology, and economics uses statistics to create useful tools. Bitcoin uses "invisible hands" of the free market. Analysts use statistics to look at the market, but their results are not peer reviewed, nor even publicly available. Market analysts are the soothsayers of economics. We need a useful predictive tool for Bitcoin price that is useful for business.

How about web hosting and development and VPN services? 

That's a string of nonsense. In essence there is no product.

What are the products they are promoting?


___________________________________________________________________

They have this:

Compensations

    A Level 1 member will get 30% of compensation from his or her own selling and recruiting immediately after the payment is confirmed.
    Besides 30% of compensation from his or her own selling and recruiting, a level 2 member will also get 5% of compensation from the selling and recruiting of his or her 2nd level downlines.
    Besides 30% of compensation from his or her own selling and recruiting, a level 3 member will also get 5% of compensation from the selling and recruiting of his or her 2nd level downlines, and 5% from those of 3rd level downlines.
    ......
    Besides 30% of compensation from his or her own selling and recruiting, a level 11 member will also get 5% of compensation from the selling and recruiting of his or her 2nd level to 11th level downlines.

BTCMLM Development Stages
Stage 1: Open registration
BTCMLM will only release 21 initial invitations, and that’s all. No initial invitation will ever be added within one year. After that, BTCMLM will release only 12 more invitations each year.

Everyone interested in joining BTCMLM, should have valid invitation code to register successfully.

Commissions will be sent according to systematic calculation every 24 hours. (GTM00:00) (See detail commission plan)

Stage 2: Open APIs
After BTCMLM has more than 2,100 registered members, we’ll release BTCMLM APIs to the public, by which developers can sell their own virtual products or services through the formidable BTCMLM sales force.

At the same time, BTCMLM will exhaust every possibility of cooperating with online companies who have already accepted BTC as regular payment, and sell their virtual products and services.

And, this means members of BTCMLM will have an endless stream of virtual products and services to sell, which means continuous profiting possibilities.

Stage 3: Go IPO in the Bitcoin community
After BTCMLM has more than 21,000 registered members, BTCMLM will sell 10% shares to the public, and the first 21,000 members of MLM have preferential rights to buy the shares. BTCMLM will always publish its revenue book in real time after its initial launching.

What happened to his site, the btcmlm dot org?

If I'm not wrong, I've banned some of their owners here for spamming this site everywhere.

I didn't mean to spam. I newly registered an account, but was restricted to local forums, and I posted some to satisfy 4-hour login time... I don't want to register a new account, I was trying to contact moderator, but no reply. I also want to bid an advertisement in the forum, I'll obey all the rules...

Why did I think MLM was a scam? What acronym was I confusing it with?

Okay, fair enough. I'll just ask then:

What are those legit businesses?

The Direct Selling Association, a lobbying group for the multi-level marketing industry, reported that in 1990 twenty-five percent of members used MLM, growing to 77.3 percent in 1999.[17] Companies such as Avon, Electrolux, Tupperware,[18] and Kirby all originally used single level marketing to sell their goods and later introduced multi-level compensation plans.[19] By 2009, 94.2% of members were using MLM, accounting for 99.6% of sellers, and 97.1% of sales.[20] The DSA has approximately 200 members [21] while it is estimated there are over 1,000 firms using multi-level marketing in the United States alone.[22]

MLMs are ponzi schemes. Bitcoin's most popular activity in 2011 were ponzi schemes. The question isn't "Is MLM ideal for bitcoin", as that's a "duh". It's "is there still  a chance anyone in bitcoin isn't tired of ponzis?" and that answer is also "duh". Take a look at the lending subforum for proof.

If I'm not wrong, I've banned some of their owners here for spamming this site everywhere.

MLM depends on who is running it. What is the link to their site?

Because most MLM's turn out to be scams - especially those that accept anonymous currencies like LR or BTC.