BitCoin All Access Review: $300 matrix positions
There is no information on the BitCoin All Access website indicating who owns or runs the business.
The BitCoin All Access website domain (“bitcoinallaccess.com”) was registered on the 4th of August 2015, however the domain registration is set to private.
As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money.
The BitCoin All Access Product Line
BitCoin All Access has no retailable products or services, with affiliates only able to market BitCoin All Access affiliate membership itself.
The BitCoin All Access Compensation Plan
BitCoin All Access pay affiliates to recruit new affiliates, with recruitment activity tracked through a 3×2 matrix.
A 3×2 matrix places an affiliate at the top of the matrix, with three positions directly under them:
These initial three positions form the first level of the matrix, with the second level of the matrix generated by splitting these three positions into another three positions each (12 positions in total).
Positions in the matrix are filled via direct and indirect recruitment, with each position costing $300.
Once all twelve positions in the matrix are filled, an $800 commission is paid out and the position “cycles” into a new 3×2 matrix.
The process of filling matrix positions then repeats itself.
Note that in the first matrix a BitCoin All Access affiliate enters, they are paid a $300 commission when the first level of the matrix is filled (3 positions).
A matching bonus of $800 is also paid when affiliates in the first matrix cycle out of the matrix (can be directly or indirectly recruited).
A “Million Dollar Monthly Global Bonus Pool” is also advertised, however no specific information was available at the time of publication.
Joining BitCoin All Access
Affiliate membership with BitCoin All Access is tied to the purchase of at least one matrix position ($300).
Any initial additional matrix position purchases will increase this cost.
Conclusion
I did see some “bitcoin training” material advertised as being bundled with BitCoin All Access affiliate membership, but other than that you’re pretty much looking at a matrix cycler trying to ride the BitCoin wave.
In reality BitCoin All Access has nothing to do with BitCoin. The compensation plan is a stock-standard $300 a pop matrix cycler, which pays an $800 ROI once nine subsequent investments have been made ($1200).
With no other sources of revenue, BitCoin All Access are obviously just shuffling newly invested funds around to pay off existing investors. This makes it a Ponzi scheme.
As with all Ponzi schemes, once affiliate recruitment dries up so too will newly invested funds.
This will see BitCoin All Access matrices taking longer and longer to cycle, before the scheme collapses altogether.
At that point the anonymous BitCoin All Access admin does a runner with funds still attached to uncycled positions, with everyone who didn’t manage to recoup their $300 position investment losing out.
Statistically in Ponzi schemes this is universally the majority of participants.
If someone would just come up with a crypto-currency system that was backed up by some sort of precious stone or jewel.. That would be something the community could get behind!
Thanks a lot for exposing Bitcoin AllAccess program. I was almost a victim but I was smart enough to spot their prank.
I’m based in Nigeria. Someone sent me their website link on Sun 21 Sept 2015 to register free on VIP promo which closed by 10pm same day.
I was able to referred about 10 people same day.
Then it was just a registration portal. Their website was made available the next day (Mon 21 Sept 2015) and I have been following up on them ever since.
On 1 Oct, 2015, they announce the “Million Dollar Monthly Global Bonus Pool” was announced asking registered member to purchase bitpasses, and the minimum one can purchase is 3bitpasses that cost $900 and max of 30 bitpasses ($9000) and they promised to pay $3 on each activated bitpass for 100 days.
This they asked us to do before 14th of October. This is where i Begin to ask them question.
They don’t even have an email – one can only reach them via their site. I mailed them to send me their physical address and phone number so I can check them out.
At one time, they replied saying their office is located in NYC. I replied them asking them to send me the exact address to the office, and since then they stopped communicating with me.
It’s obvious the brain behind Bitcoin AllAccess are big scammers. Thanks a lot for this exposure!