I can’t even tell you how many Bitcoin driven MLM sites there are on the net today, but boy is it flying out of control.
The minute one stops paying, another one is launched.
I take that back.
There are probably 3 being launched before one goes out of style, as there are so many “product creators” trying to bank off of the hype bitcoin brought to the world almost a decade ago.
What is Bitcoin?
Bitcoin is a digital currency created by really, an unknown person, but going by the name Satoshi Nakamoto.
It uses peer to peer based transactions, which is conducted through a blockchain, which records Bitcoin transactions.
This is very much a hot commodity and although the value isn’t as high as it used to be, there are many people trying to promote this stuff through the means of multilevel marketing.
Why Bitcoin MLM?
Back in 2013, there was a huge story about the first sale of two pizzas using Bitcoin, which made an instant millionaire shortly after.
After that, obviously everyone and their mothers purchased their share of the digital currency, which I’m sure could’ve made them a good return if they were smart.
If you have heard or come across any of these sites trying to promote Bitcoin, I would love to show you exactly how every single one of them operate along with why you shouldn’t join any of them.
No Product, All Recruiting Ponzi Schemes
Most of these schemes come with absolutely no products, but use Bitcoin as its “product”, which is really just a way to get people interested.
Most will bring up the Bitcoin pizza story, which is beyond impossible to happen these days, but it is very commonly used with these MLM companies.
How could you possibly sell nothing to people?
By promoting hype, that’s how.
Talk about how someone got rich, show some fancy cars, and you have yourself some false hope to sell to the completely uneducated looking to make money online.
I Actually Really Like Bitcoin
It may sound like I’m completely against Bitcoin, but I’m actually not.
I think the idea of Bitcoin and being able to mine it is interesting enough for me to have my money invested in some of this hype.
The problem I have are these companies using this to fill their pockets with other people’s money.
This is happening as we speak and there are more and more being created, which offer nothing of true value, but people still give into it simply because they are desperate.
I have hundreds of friends on Facebook who join at least one new Bitcoin MLM a week, promoting it so that others can join, knowing that it won’t last.
They never make the type of money they speak of and it seems as if they’ll stay on the same cycler their on for as long as they live, telling people how they’re an online marketer, when they’re really a failed network marketer.
Don’t Give Into the Hype
If you’re still thinking about joining one of these programs thinking that this is your golden ticket to financial freedom, I hope you know it’s not going to happen.
Be a lot smarter than most and do not give into their shady marketing.
These people are only looking out for themselves and the only way they make money is by getting you to signup under them.
it really had nothing to do with Bitcoin and it is not an actual investment into Bitcoin either.
By paying into a Bitcoin MLM you will be doing nothing but cash gifting, which is very much illegal in the world of making money online.
So the next time one of your so called Facebook friends tries to tell you that they found the secret to making money online and they mention Bitcoin, just turn the other way and run.
Do not waste your time with ANY Bitcoin driven network marketing nonsense.
Making Money Online Requires Work
For those of you who are still looking for a legitimate way to make money online, please know that it requires more than just recruiting others into some hype.
It’s only a matter of time before every single one of these programs shutdown, so don’t get involved with something you know won’t last.
First it was revenue sharing, then Bitcoin.
Only time will tell.
Until next time…Be scam smart and always do your research.