Bitcoin and Network Marketing Companies

[traderMax]

Anyone who sees Bitcoin's popularity wants to make a profit from it. Network marketing is one of the sectors that wants to get this pastry share in the systems. Is it good to use bitcoin (crypto currency) by network marketing companies? How does this affect people's perspective on bitcoin?

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[pooya87]

network marketing is just another business that people can take part in and get paid for the part-time job they do online, so yeah it can benefit from using bitcoin a lot because the payment is easy and can be done right away with small fee compared to fiat payment that the company has to either wait a long time and pay in bulk and pay large amount of fee.

[Xester]

Network marketing is a nice idea. Actually my friends and other residents in our province has known bitcoin through this networking using bitcoins as payment. If not because of this networking schemes bitcoin could not spread in my country very fast. If there will be more networking companies that will use bitcoin as mode of payment then surely bitcoin will be known worldwide.

[Pursuer]

network marketing if done right can be a good thing but usually what we see in action is either a spam marketing or very low payments and lots of fraud by the company that is hiring people to do the marketing. but if there can be a good service that pays a good amount and also keeps the quality up, I think it can be a good addition to the list of bitcoin services.
and since there has been none that works with bitcoin to my knowledge, being the only one can be a big benefit.

[pinoycash]

theres alot of companies that already shift from Paypal to bitcoins, due to paypal TOS changes and strict rules for MLM companies. almost all recently launch online network marketing companies takes bitcoins as a mode of payment for their products and membership fees

[Digitalbitcoin]

Anyone who sees Bitcoin's popularity wants to make a profit from it. Network marketing is one of the sectors that wants to get this pastry share in the systems. Is it good to use bitcoin (crypto currency) by network marketing companies? How does this affect people's perspective on bitcoin?

Already many network marketing companies are using Bitcoin as payment as well as investment platform. But many of them are ponzi and just only MLM. Even few altcoin have used network marketing strategy for altcoin distribution.

But the loophole is people have to learn how to use Bitcoin. Many of Networker tries to educate their downline with new things but Bitcoin is still very new to common person to believe.

But if applied successfully then there will be more exponential increase in price of Bitcoin.

[iamTom123]

Basically, there is nothing wrong with using MLM as a distribution or marketing vehicle for any Bitcoin related opportunity. Maybe the problem may crop up if there is something wrong with the opportunity or it if is actually designed or became another scam and just using the legitimacy of Bitcoin to prop up its own image. We should always remember that just like franchising, MLM should not be equated with being good or bad because it is just a business system.

[traderMax]

There are many MLM companies in the market that use CryptoCurrency. There are a lot of ponzi systems that use CryptoCurrency. MLM companies or ponzi systems will be the tool for people to hear the name of bitcoin. Even if people lose their money in ponzi systems, they will at least hear the name bitcoin. Also, since MLM systems are spreading very quickly, the cryptocurrency will have reached too many people.
I think it will be very important in terms of bitcoin awareness within the next 5 years.

[RealBitcoin]

Anyone who sees Bitcoin's popularity wants to make a profit from it. Network marketing is one of the sectors that wants to get this pastry share in the systems. Is it good to use bitcoin (crypto currency) by network marketing companies? How does this affect people's perspective on bitcoin?

I dont think so, so far most of these marketing companies have been all ponzi scehemes.

Like how you get 50% comision from referals signing up people to marketing schemes. Heck, most likely those are all ponzis, or matrix schemes, which are both scams.

They are also these Direct Selling companies:
https://en.wikipedia.org/wiki/Direct_selling

Which are just MLM scams, you buy the product from them, and you can sell it, so you are losing money.

They are all scams. Stay away.

[Bungeebones]

I've been working on a Bitcoin-only ad network that resembles a MLM quite a bit but I think has some major differences.

It gets pretty "deep" quite quickly because both MLM and Ad Networks get complicated.

Something really serious I'm attempting is to use the blockchain to enable earners to be able to document their earnings IF THEY WANT so that their MLM commissions turn into its own asset class that they can sell, assign or transfer (like someone might sell an annuity) for a lump some (again, if they want).


Rather than try to explain it, are there any "brave" individuals with websites that would like to walk through it here?

 One step at a time ...

Step 1 - Advertise your website for free across an entire network of cooperating Bitcoin earning websites with just one registration!

[Bitcotalk]

There is nothing bad that bitcoin is being used by network marketing companies. Bitcoin is a currency working like all other currencies of the world bit it is in the form of digital so every company can use it for their requirements without.

[Velkro]

Anyone who sees Bitcoin's popularity wants to make a profit from it. Network marketing is one of the sectors that wants to get this pastry share in the systems. Is it good to use bitcoin (crypto currency) by network marketing companies? How does this affect people's perspective on bitcoin?

For me MLM companies because you are refering to them probably, are like literally scam. They are always with little changes giving propaganda of success. You will be sucessfull, you will become rich, you will be great, you are great... just give us your money . They taking money for books (for you to learn of course), for teaching courses (for you to become great of course) etc.

Stay away from companies like that, you will loose your time and money.

[Bungeebones]

Anyone who sees Bitcoin's popularity wants to make a profit from it. Network marketing is one of the sectors that wants to get this pastry share in the systems. Is it good to use bitcoin (crypto currency) by network marketing companies? How does this affect people's perspective on bitcoin?

For me MLM companies because you are refering to them probably, are like literally scam. They are always with little changes giving propaganda of success. You will be sucessfull, you will become rich, you will be great, you are great... just give us your money . They taking money for books (for you to learn of course), for teaching courses (for you to become great of course) etc.

Stay away from companies like that, you will loose your time and money.

I pretty much agree. One little talked about issue is the difference between a pyramid company (totally illegal) and a MLM (perfectly legal).

Any guess as to what separates the two - legally?

just give us your money . They taking money for books (for you to learn of course), for teaching courses (for you to become great of course) etc.

When a company earns more from the participants than it does from sales to customers it is approaching the line of becoming an illegal pyramid.

In other words, if the participants all earn their money by getting people in it rather than by actually selling product then they are in dangerous waters.

That's why mine is free. The only "investment" I ask for is that they invest the web traffic to their website (80% of the time they aren't selling it or trying to monetize it so it is usually already going to waste). And, very important is the fact that the only product we sell is one created by the members themselves

[traderMax]

Anyone who sees Bitcoin's popularity wants to make a profit from it. Network marketing is one of the sectors that wants to get this pastry share in the systems. Is it good to use bitcoin (crypto currency) by network marketing companies? How does this affect people's perspective on bitcoin?

I dont think so, so far most of these marketing companies have been all ponzi scehemes.

Like how you get 50% comision from referals signing up people to marketing schemes. Heck, most likely those are all ponzis, or matrix schemes, which are both scams.

They are also these Direct Selling companies:
https://en.wikipedia.org/wiki/Direct_selling

Which are just MLM scams, you buy the product from them, and you can sell it, so you are losing money.

They are all scams. Stay away.

In fact, it is possible for someone who is successful in a good network marketing business to earn millions of dollars. But most people in MLM companies can not make money. Not all MLM companies are fraudulent. But most MLM companies use the ponzi system. MLM firms that use the ponzi system are fraudsters.

[maku]

In fact, it is possible for someone who is successful in a good network marketing business to earn millions of dollars. But most people in MLM companies can not make money. Not all MLM companies are fraudulent. But most MLM companies use the ponzi system. MLM firms that use the ponzi system are fraudsters.

It doesn't matter if there is 1 of 10 MLM company which is legit. This whole market is filled with exploits and is based a controversial, pyramid-shaped marketing strategy.
Do we really need something like this associated with Bitcoin? In the end it will only build fake assertion that Bitcoin is good only for fraudulent schemes like MLM payments.

[traderMax]

Anyone who sees Bitcoin's popularity wants to make a profit from it. Network marketing is one of the sectors that wants to get this pastry share in the systems. Is it good to use bitcoin (crypto currency) by network marketing companies? How does this affect people's perspective on bitcoin?

For me MLM companies because you are refering to them probably, are like literally scam. They are always with little changes giving propaganda of success. You will be sucessfull, you will become rich, you will be great, you are great... just give us your money . They taking money for books (for you to learn of course), for teaching courses (for you to become great of course) etc.

Stay away from companies like that, you will loose your time and money.

I pretty much agree. One little talked about issue is the difference between a pyramid company (totally illegal) and a MLM (perfectly legal).

Any guess as to what separates the two - legally?

just give us your money . They taking money for books (for you to learn of course), for teaching courses (for you to become great of course) etc.

When a company earns more from the participants than it does from sales to customers it is approaching the line of becoming an illegal pyramid.

In other words, if the participants all earn their money by getting people in it rather than by actually selling product then they are in dangerous waters.

That's why mine is free. The only "investment" I ask for is that they invest the web traffic to their website (80% of the time they aren't selling it or trying to monetize it so it is usually already going to waste). And, very important is the fact that the only product we sell is one created by the members themselves

Could you give the name of the MLM company that you work for if it doesn't matter to you?

[megynacuna]

Anyone who sees Bitcoin's popularity wants to make a profit from it. Network marketing is one of the sectors that wants to get this pastry share in the systems. Is it good to use bitcoin (crypto currency) by network marketing companies? How does this affect people's perspective on bitcoin?

Well nothing better could have happened to the network marketing world than Bitcoin because their emphasis is on marketing and with marketing your target is people within your jurisdiction and outside but Bitcoin can actually be used to transact business worldwide at relatively low fees so I think if properly integrated into the world of network marketing it will erase all the financial boundaries and enhance marketing.

[Bungeebones]

In fact, it is possible for someone who is successful in a good network marketing business to earn millions of dollars. But most people in MLM companies can not make money. Not all MLM companies are fraudulent. But most MLM companies use the ponzi system. MLM firms that use the ponzi system are fraudsters.

It doesn't matter if there is 1 of 10 MLM company which is legit. This whole market is filled with exploits and is based a controversial, pyramid-shaped marketing strategy.
Do we really need something like this associated with Bitcoin? In the end it will only build fake assertion that Bitcoin is good only for fraudulent schemes like MLM payments.

If you take a "pyramid" and turn it upside down you get a funnel. Bitcoin's problem now is that it is filled with a different kind of "fraudster" (i.e. the speculator).. I made out quite well as I bought in at $10 and lived off of it for over two years. But just getting a bunch a greedy "get rich quick" types getting into Bitcoin is just as much a "ponzi scheme" as there ever was.

What I've said from the beginning is that Bitcoin needs to enable the average person to get some which usually involves some way for them to earn it. Apart from changing all the employment tax laws, the insurances, the escrows etc. associated with "normal" employee arrangement Bitcoin's use to pay workers is doomed. No business is going to go through all that just to pay them with Bitcoin (unless they are making a ton of Bitcoin profits, then they would do that instead of converting to fiat).

So, while I appreciate all the anti-MLM sentiment, it is just a tool after all. So much of your scathing ridicule sounds very much like the ignorance that comes out against Bitcoin from people who know nothing about it but are "experts". MLM (not the illegal pyramid scheme -they ARE different) is a very legitimate way to accomplish what many Bitcoin enthusiasts at least claim they are in favor of (democratizing wealth). The greedy speculator Bitcoin user is not after that, of course, but MLM is a way for someone with little or no capital to get started in their own business. Certainly the failure rate is high but so isn't the failure rate in regular startups high. And, with MLM, you most often start with someone with little (if any) actual business experience or knowledge.

The advantage of the MLM arrangement to the organizer is the savings in cost of hiring all the sales and support staff and the speed and scale at which it can be launched. I see MLM as a way for Bitcoin companies to actually break free from the Central Banks. And MLM created properly and fairly is a contractual relationship. If the contract is clear (not like the DAO that lost 50 million of investor's money) then an MLM will compensate those that actually provide value to the organization a growing stake in the success. An added "natural fit" with Bitcoin is that much more of the MLM "contract" can now be encoded in smart contracts and it can enable the income opportunities globally. I think that is all a good thing.

Compare that to the "employee" serfdom that corporations now provide I would much rather have the freedom to achieve according to my work rather than bank on the fraudulent lies and greed of corporations. Trump is missing the real issue when he talks about bringing back "jobs". The truth is that corporations have not only stabbed their workers in the back, they have repeatedly twisted the knife around. All those corporations that he got to "stay" here are created for one purpose and one purpose only ... to make profits. They stay if they make more profits, and, they leave if that is where the profits are. So, go be an employee for those assholes all you want and whine against MLMs all you want, you're ignorant and don't know what the hell you are talking about. Period.

[Babayega31]

In fact, it is possible for someone who is successful in a good network marketing business to earn millions of dollars. But most people in MLM companies can not make money. Not all MLM companies are fraudulent. But most MLM companies use the ponzi system. MLM firms that use the ponzi system are fraudsters.

It doesn't matter if there is 1 of 10 MLM company which is legit. This whole market is filled with exploits and is based a controversial, pyramid-shaped marketing strategy.
Do we really need something like this associated with Bitcoin? In the end it will only build fake assertion that Bitcoin is good only for fraudulent schemes like MLM payments.

Yes I agree bitcoin investments could result to fraudulent schemes, like in fiat money network marketing offering investments on so called legit company promising people to double their money capital along with its profit, but turns out to nothing after years then when they hit their target the so called legit company declares closure of operation. They really exploit and scam people and the  same with bitcoin users there were threats of ponzi schemes and whatsoever unacceptable act which could result profit losses to anyone.

[ophyrim]

Network marketing is a nice idea. Actually my friends and other residents in our province has known bitcoin through this networking using bitcoins as payment. If not because of this networking schemes bitcoin could not spread in my country very fast. If there will be more networking companies that will use bitcoin as mode of payment then surely bitcoin will be known worldwide.

I agree with you. I have worked for one of the network marketing companies in the past. After 5 years of the company entrance in my country, nearly everyone knows the company and knows something about that company. The use of bitcoin at the networking schemes is a good way for the profit and also for the awareness. Especially technology companies can do that easily.