BitLuna Review: Ponzi adpacks & worthless LunaCoins
There is no information on the BitLuna website indicating who owns or runs the business.
The BitLuna website domain (“bitluna.org”) was privately registered on November 14th, 2016.
The anonymous owners of BitLuna also operate LunaWallet and MiteFX. LunaWallet is used to store LunaCoins mined through BitLuna and MiteFX is an internal exchange.
The LunaWallet and MiteFX domain registrations are both set to private.
A voiceover on the BitLuna website claims the company is registered in the UK.
The Terms and Conditions of LunaWallet state:
LunaWallet is an online payment processor, registered and domiciled in the country of Seychelles, and are bound by the legal requirements of Seychelles.
It is extremely likely these are both shell company registrations.
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 BitLuna Product Line
BitLuna has no retailable products or services, with affiliates only able to market BitLuna affiliate membership itself.
Once signed up, BitLuna affiliates can invest in “Ad Packs”. Bundled with each Ad Pack investment are advertising credits, which can be used to display advertising to other BitLuna affiliates.
The BitLuna Compensation Plan
The BitLuna compensation plan sees affiliates invest in Ad Packs on the promise of a 130% ROI.
The minimum investment amount in an Ad Pack is $10.
ROIs are paid out daily at a rate of 0.01% to 2%. If an affiliate doesn’t click company-supplied ads, they only earn half the daily ROI rate.
After a BitLuna investment position reaches a 130% ROI, the daily ROI rate is reduced unless funds are reinvested.
Referral commissions are paid out on invested funds via a unilevel compensation structure.
A unilevel compensation structure places an affiliate at the top of a unilevel team, with every personally recruited affiliate placed directly under them (level 1):
If any level 1 affiliates recruit new affiliates, they are placed on level 2 of the original affiliate’s unilevel team.
If any level 2 affiliates recruit new affiliates, they are placed on level 3 and so on and so forth down a theoretical infinite number of levels.
BitLuna cap payable unilevel levels at five, with affiliates paid a percentage of invested funds as follows:
- affiliates – 5% on level 1 (personally recruited affiliates), 3 % on level 2 and 1% on levels 3 to 5
- representatives – 10% on level 1, 3% on level 2 and 1% on levels 3 to 5
To become a representative an affiliate must agree to “help people who will contact you” and provide BitLuna with personal information.
BitLuna affiliate membership is free, however affiliates must invest at least $10 to participate in the attached income opportunity.
BitLuna combines your typical adcredit Ponzi scheme with a worthless altcoin cryptocurrency.
The Ponzi side of the business sees affiliates invest $10 or more and paid a 130% ROI via subsequently invested funds. After 130% positions continue to pay out a reduced daily ROI until collapse.
LunaCoin is an altcoin cryptocurrency that has no real world application or value.
BitLuna themselves define LunaCoin as “shares”:
Investing money and buy our shares, along with each share you will receive a Certificate of Investment that will guarantee your earnings for unlimited time.
This I believe is a Fruedian slip. In the past BitLuna might have added a virtual shares model to their adcredit Ponzi.
Now with cryptocurrency all the rage, they’ve just paid some programmers to come up with LunaCoin. Same idea, different wrapping.
Both components of BitLuna rely on affiliate recruitment. Without which there is no new investment to pay ad pack investors out or buyers of LunaCoin (not everyone is going to mine it).
Once affiliate recruitment dies down BitLuna will be unable to meet their ad pack ROI obligations, prompting a collapse.
The value of LunaCoin will fluctuate as a result of new affiliates trading. Once it sinks in that you can’t actually do anything with it, the value will crash as other MLM altcoins have done.
6.1. All purchased items … are non-refundable (NO REFUND).
Post collapse BitLuna affiliates lose whatever they’ve invested in ad packs and get to watch their LunaCoin value approach zero.