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Author Topic: Is MLM ideal for bitcoin?  (Read 4441 times)
lixiaolai
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April 24, 2013, 02:11:31 PM
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Is Multi-Level Marketing ideal for bitcoin?

I found a MLM website using BTC, but before I join it, I want to ask fellows in this forum, why wasn't any popular MLM service before?

any idea?

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John (John K.)
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April 24, 2013, 02:26:30 PM
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Is Multi-Level Marketing ideal for bitcoin?

I found a MLM website using BTC, but before I join it, I want to ask fellows in this forum, why wasn't any popular MLM service before?

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

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lixiaolai
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April 24, 2013, 02:36:08 PM
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Because most MLM's turn out to be scams - especially those that accept anonymous currencies like LR or BTC.

is there any previous example?

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April 24, 2013, 03:02:07 PM
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Because most MLM's turn out to be scams - especially those that accept anonymous currencies like LR or BTC.

is there any previous example?

Everyone always welcome to be the first sucker.

(although yes there have been others)

more or less retired.
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April 24, 2013, 03:07:50 PM
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I've thought about starting a wiki of how to run MLM style Bitcoin parties at home. If you have all the educational materials you need, it would be easy to sell them. There are already cash for gold parties like this.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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April 24, 2013, 04:06:38 PM
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https://localbitcoins.com/?ch=80k | BTC: 1LJvmd1iLi199eY7EVKtNQRW3LqZi8ZmmB
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April 24, 2013, 04:11:59 PM
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Is Multi-Level Marketing ideal for bitcoin?

I found a MLM website using BTC, but before I join it, I want to ask fellows in this forum, why wasn't any popular MLM service before?

any idea?

Yes, BTC is ideal for most of the MLM companies. There are some scammy ones in the space but there are also some legit ones like Herbalife (HLF - $3.8B market cap) and NuSkin (NUS - $2.9B market cap) which are both publicly traded and do $4B and $2B in gross sales annually.

If you read their annual reports then you will understand that they are very large multi-nationals. One of the largest issues they have is making and receiving payments among their distributors or associates. One reason for this is because a distributor in Brazil may signup another one in Japan who signs up on in Australia. When the customer in Australia orders product then the ones in Japan and Brazil both earn a commission.

Additionally, one of the main reasons these companies do not move into other countries is because credit cards are not widely used there so they have problems receiving payments. Remember, Paypal and credit cards are mostly only in about 60 countries. So, there are huge untapped markets that Bitcoin could unlock.

For these MLM companies Bitcoin could open new markets, lower fees, reduce exchange rate uncertainty and greatly reduce other costs. So, yes, it is a very ideal currency and payment system for these MLM companies.

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April 24, 2013, 04:12:53 PM
 #8

Is Multi-Level Marketing ideal for bitcoin?

I found a MLM website using BTC, but before I join it, I want to ask fellows in this forum, why wasn't any popular MLM service before?

any idea?

There were quite a few, google pirateat40 Smiley

Affiliate marketing is equivalent of real world MLM (where some actual product is offered, otherwise its just a ponzi).

Of course it's obnoxious and spammy, but hey, it works wonders for gambling stuff like bitvegas.
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April 24, 2013, 05:56:09 PM
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MLM = Many Lose Money
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April 24, 2013, 06:32:06 PM
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MLM = Many Lose Money

Not all, I Know of a global loyalty rewards program (some say it`s MLM some say it is not) dedicated to providing a rewarding and mutually beneficial relationship between their unparalleled community of international shoppers and merchants. A free membership provides shoppers with exclusive benefits from online shopping, gift card purchases, the  cash back card and mobile cash back with over 29,000 merchants at more than 150,000 locations! and growing as I type.

You can use btc through Dwoalla

“Cash back with every purchase” is the  motto.  With thousands of local, regional and international merchants and millions of members in more than 40 countries, this company has become the premiere global shopping community and loyalty program! Shoppers enjoy four ways to shop and earn cash back – online, in-store with their company Cashback card, with merchant gift cards and via their smartphones.
 
The  loyalty program is built on creating lasting relationships that benefit the merchants and members.  As the shopping community grows, the merchants receive more sales, and in turn, they can provide increased rewards. With loyalty, everyone wins!

Now if I could only get corporate to accept btc that would be a game changer  Wink

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April 24, 2013, 11:54:31 PM
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A free membership provides shoppers with exclusive benefits from online shopping, gift card purchases,

From another thread:

Comments please good or bad idea?

I've done this transaction (sold bitcoins, withdrew Dwolla and used the funds to buy a gift card through Lyoness.us), and it worked fantastically.

The shipping and handling (S&H) for the card(s) is a $5 per order unless purchasing $300 or more of gift cards in which case the S&H is waived.

The order is sent FedEx.

So this is a 1:1 cash-out method.  You send $300 Dwolla USD you get $300 worth of gift cards in the mail.  The only cost in that instance is the $0.25 Dwolla per-transaction fee*
[...]
But remember, because this is using Dwolla to fund you can cash out at an exchange that uses Dwolla and this method does not require any withdrawal to a bank account.

Anyone in the U.S. can sign up for Dwolla.  You do not need to link a bank account to Dwolla to use this.
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April 24, 2013, 11:57:58 PM
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I've thought about starting a wiki of how to run MLM style Bitcoin parties at home. If you have all the educational materials you need, it would be easy to sell them. There are already cash for gold parties like this.

What is being sold that would be an incentive to offer a party?  There's no residual income.
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April 25, 2013, 01:42:33 AM
 #13

I've thought about starting a wiki of how to run MLM style Bitcoin parties at home. If you have all the educational materials you need, it would be easy to sell them. There are already cash for gold parties like this.

What is being sold that would be an incentive to offer a party?  There's no residual income.
MLM parties are not big money makers. They are social events. Sell a little over spot. Sell materials for and teach how to secure your wallets. Make up for small margins with volume. Talk about what you've learned. Have fun.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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April 25, 2013, 02:01:01 AM
 #14

Is Multi-Level Marketing ideal for bitcoin?

I found a MLM website using BTC, but before I join it, I want to ask fellows in this forum, why wasn't any popular MLM service before?

any idea?


MLM depends on who is running it. What is the link to their site?
lixiaolai
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April 25, 2013, 05:10:11 AM
 #15

Is Multi-Level Marketing ideal for bitcoin?

I found a MLM website using BTC, but before I join it, I want to ask fellows in this forum, why wasn't any popular MLM service before?

any idea?


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

https://btcmlm.com

I personally think they're promising.

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April 25, 2013, 05:12:33 AM
 #16

Is Multi-Level Marketing ideal for bitcoin?

I found a MLM website using BTC, but before I join it, I want to ask fellows in this forum, why wasn't any popular MLM service before?

any idea?


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

https://btcmlm.org

I personally think they're promising.

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

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April 25, 2013, 05:48:40 AM
 #17

MLM parties are not big money makers. They are social events. Sell a little over spot. Sell materials for and teach how to secure your wallets. Make up for small margins with volume. Talk about what you've learned. Have fun.

It's not true MLM unless higher ups are receiving commissions on the sales of people down-line.

I'm not trying to discourage the idea of Bitcoin parties, just be careful about promoting the concept as MLM if it's not because MLM has a pretty shitty reputation in general and you don't want to attach that baggage to yourself without reason.

All I can say is that this is Bitcoin. I don't believe it until I see six confirmations.
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April 25, 2013, 06:10:14 AM
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MLM parties are not big money makers. They are social events. Sell a little over spot. Sell materials for and teach how to secure your wallets. Make up for small margins with volume. Talk about what you've learned. Have fun.

It's not true MLM unless higher ups are receiving commissions on the sales of people down-line.

I'm not trying to discourage the idea of Bitcoin parties, just be careful about promoting the concept as MLM if it's not because MLM has a pretty shitty reputation in general and you don't want to attach that baggage to yourself without reason.
Unless you were selling physical Bitcoins, there really isn't a way to use the MLM model exactly. I guess I like the idea of parties because people get excited and may want to buy things with bitcoins.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
lixiaolai
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April 25, 2013, 08:36:17 AM
 #19

Is Multi-Level Marketing ideal for bitcoin?

I found a MLM website using BTC, but before I join it, I want to ask fellows in this forum, why wasn't any popular MLM service before?

any idea?


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

https://btcmlm.org

I personally think they're promising.

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

I saw the posts before you deleted... therefore I noticed and have been thinking whether join them...

inblockchain.com
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April 25, 2013, 08:37:42 AM
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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.

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