E-Dinar Review: EDR unit Ponzi points cryptocurrency
There is no information on the E-Dinar website indicating who owns or runs the business.
The E-Dinar website domain (“e-dinar.io”) was registered on the 7th of October 2015, with “Insider Mine” of “LP Edinar-group” as the owner. An address in Kuala Lumpur, Malaysia is also provided.
“Mass media” articles provided on the E-Dinar website are little more than spam the owner(s) of E-Dinar have uploaded to various press-release websites.
The marketing videos on the website were made on the cheap, using the services of Fivver seller “Ivannicholo”.
Alexa currently estimate that 26.4% of all traffic to the E-Dinar website originates out of the US. Russia and Ukraine aren’t far behind, providing 19.4% and 16.6% respectively.
There’s a distinct lack of information available on Insider Mine and LP Edinar-group. My thinking is that these are likely just shell companies set up in Malaysia.
Between Russia and the US, I’m leaning towards the admins of E-Dinar being based in Europe.
This is based on the abundance of E-Dinar marketing material in Russian, as well as use of the Slovakian file locker to host the E-Dinar website (albeit the link was broken at the time of publication).
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 E-Dinar Product Line
E-Dinar has no retailable products or services, with affiliates only able to market E-Dinar affiliate membership itself.
The E-Dinar Compensation Plan
E-Dinar represent on their website that investment in “E-DINAR currency volume” (EDR) attracts a 20% monthly ROI.
Residual commissions on this 20% monthly ROI are paid out 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 go on to 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.
E-Dinar cap payable levels at seven, with commissions paid out as a percentage of the ROI received by affiliates in the unilevel team:
- level 1 (personally recruited affiliates – 25%
- level 2 – 20%
- level 3 – 15%
- level 4 – 10%
- level 5 – 5
- levels 6 and 7 – 2.5%
Note that the following qualifiers must be met for an E-Dinar affiliate to earn on all seven levels of their unilevel team:
- level 1 – invest in at least 1 EDR
- level 2 – have at least 100 EDR in your E-Dinar wallet
- level 3 – maintain at least 100 EDR in your E-Dinar wallet and recruit at least 5 affiliates, each of whom have invested in at least 100 EDR
- level 4 – maintain at least 100 EDR in your E-Dinar wallet and recruit at least 25 affiliates, each of whom have invested in at least 100 EDR
- level 5 – maintain at least 100 EDR in your E-Dinar wallet and recruit at least 125 affiliates, each of whom have invested in at least 100 EDR
- level 6 – maintain at least 100 EDR in your E-Dinar wallet and recruit at least 625 affiliates, each of whom have invested in at least 100 EDR
- level 7 – maintain at least 100 EDR in your E-Dinar wallet and recruit at least 3125 affiliates, each of whom have invested in at least 100 EDR
Joining E-Dinar
Affiliate membership with E-Dinar is free, however affiliates must invest in at least 1 EDR in order to participate in the offered MLM income opportunity.
At the time of publication, EDR units have not been given a dollar value.
Conclusion
The E-Dinar website represents that EDR units are tradeable as a legitimate cryptocurrency on public exchange sites.
Ways of purchasing currency include: through the exchange websites, through the P2P Exchange or through an internal transfer to PA (all the largest and reliable world banks and EPS are represented).
The reality however is that E-Dinar is not traded on any exchange. EDR units are only tradeable through E-Dinar themselves:
Within the framework of the E-DINAR community, its own P2P E-DINAR Exchange is open.
Thus E-Dinar is a closed-loop cryptocurrency, with a value arbitrarily determined by the company itself.
Outside of 20% a month ROIs and the E-Dinar MLM business opportunity, EDR units serve no purpose.
These fundamental differences separate EDR units from a legitimate cryptocurrency and renders them nothing more than Ponzi points.
E-Dinar affiliates invest in EDR units on the promise of an advertised 20% monthly ROI – paid out in EDR points.
E-DINAR web-community partner’s cryptocurrency volume increases by 20% per month due to the algorithm programmed by developers.
Interest on the purchased E-DINAR amount is calculated daily.
Based on an EDR unit value set by E-Dinar, affiliates can sell units back to E-Dinar or trade them with other affiliates through the E-Dinar exchange.
Referral commissions offered through the unilevel team act as a recruitment incentive, as E-Dinar needs a constant influx of newly invested funds to pay out existing investors with.
The Ponzi points model sees investors in points, assigned a value by the issuer of the points – in this case E-Dinar.
Clarification on E-Dinar being a Ponzi scheme is furthermore readily available in their FAQ:
Is E-DINAR a pyramid or Ponzi scheme?
Ponzi or scheme pyramid is a fraudulent investment operation where the income is paid to the investors from their own money or the money of subsequent investors rather than from the profit earned by people leading their own business.
These schemes usually collapse on themselves when the new investments stop.
E-Dinar has no legitimate business activities, in or outside of the offered MLM business opportunity. The only source of revenue is affiliate investment, made on the promise of a 20% monthly ROI.
As with Ponzi schemes, E-Dinar will collapse once new investment stops flowing into the scheme.
The way they have it set up is the promise of 20% ROIs for two years. Basically they’re counting on the majority of investors investing and re-investing over two years.
Once the 20% monthly ROI period has expired, withdrawal requests will be filed. E-Dinar deny the requests and the anonymous admin(s) do a runner.
This one is ugly. “Nigerian” scam emails do not include broken english and gross misspellings because their authors are stupid or don’t have access to spell check, they use those errors to keep anyone with any common sense from replying to them.
The goal is an easy rip off so why waste time with people who aren’t financially brain dead?
The Iraqi Dinar is 1: the legitimate currency of the nation of Iraq and 2: a long running investment scam in the rest of the world.
The only reason to name your fake cryptocurrency E-Dinar is to tap into people who are either 1: preselected suckers or 2: people who have no idea what due diligence is or why they’d want to bother with it.
“Honorary Professor, Doctor and Academic Millionaire Mentor” Robert Thomas seems to be one of the people behind this. Please note this is not the inveterate con artist Robert Thomas of Pinellas county Florida, it’s Robert Thomas the inveterate American con artist of Kiev Ukraine.
The Kiev Post has some english language coverage in links from this page:
kyivpost.com/article/content/ukraine/us-millionaire-mentor-robert-fletcher-arrested-in–31192.html
Compare those photos with this video:
youtube.com/watch?v=mgODay-yyfs
Brings to mind nothing so much as the phrase “lowest common denominator.”
That… that hair. WTF?
The other admin of this scam is Alexander Kolbasov, former Russian MMM top leader.
For some time he was MMM admin and stood right next to Mavrodi in MMM hierarchy. For a brief period in 2012, while Mavrodi was under arrest, Kolbasov took power.
After MMM-2011 collapse, Kolbasov still was a top leader, and was granted permission to start his own Ponzi cheme, which was in reality MMM side-project.
Right before first MMM-2012 collapse Kolbasov withdrew 52 million roubles from the scheme (around $2 million at the time). After that Alexander’s scheme stopped payments, so he published a blog post about Mavrodi and his participation in MMM (original post was deleted, but I can provide a copy stored on a third-party site in a follow-up comment – writing this from a smartphone while on a trip).
This resulted in termination of Kolbasov’s account in MMM directly by Mavrodi. Alexander then disappeared from the Internet for two years.
At 6 months old it has little online presence outside of questionable blogs and low quality youtube videos in Russian and Ukrainian.
This part is confusing so hopefully someone knowledgeable can help out.
The exchanges linked on the website are all foreign and you cannot find E-dinar on any US, European or widely promoted exchanges in the crypto marketplace that list hundreds of cryptocurrencies.
At the same time they openly state that it is fully controlled and that it won’t be openly traded on exchanges for 2 years (or 22 million coins mined) as they set the price and control everything. With this in mind those linked exchanges go against their own words, E-dinar own/run/control the linked exchanges?.
You cannot find any positive coverage of E-Dinar in any Crypto communities, forums, media or sub-reddits. As with Onecoin people, when they attempt to promote in Cryto communities the reception is hilarious –
bitco.in/forum/threads/e-dinar-cryptocurrency.906/
goo.gl/z4G0s9
Direct quote from the website
(It looks like a standard ltd company that anyone can set up and use to look good in pitches that gives an appearance of safety and compliance)
“HOLDERS CRYPTOCURRENCY SERVICE CENTER COMPANY LTD”
The officer is named Rudy, the Fiverr paid script video actor introduces himself as Rudy (not his real name).
Did Rudy commission the Fiverr gig?. E-dinar has multiple videos with the fiverr actor giving updates and using the name Rudy.
“Our friend Rudy – about the achievements of International E-Dinar community”
I see 2 years mentioned although the website states that after 22 million coins are mined they will release it into the wild, and the market will determine the price.
Currently and until that time they fix the price at $1 = 1EDR with a 20% ROI per month for doing absolutely nothing but logging in once a week and doing a few clicks.
20% each month is odd as reading previous articles regarding cryptocurrencies gives mention that crypto mining yields less for the same effort over time.
They’re just links. If you click through E-Dinar has nothing to do with the exchanges. IIRC you can only trade EDR inhouse on E-Dinar’s own exchange.
UK reg is cheap and you can put any name you want down. Indian scammers use fake Anglo-Saxon names when they set up their scams.
“Rudy” probably doesn’t exist.
The idea is that suckers continue to re-invest for 20 months, after which or towards the end the owners do a runner with invested funds.
The concept makes little sense because it’s not designed to reach 2 year maturity.
In their pitches they say we won’t allow EDR to be traded outside of the website for 2 years (22 million coins mined).
Naturally you point out that it is nothing like Bitcoin and fully controlled through their own website with no market value or trading. They come back and use the handful of foreign websites linked in an effort to show how different to Onecoin they are.
One of these websites for example
– Yandex RUB, Bitcoin, Okpay USD, Perfect Money USD, Advcash USD can all be exchanged for E-dinar EDR.
– E-dinar EDR can only be exchanged for Pefect Money USD, Okpay USD, Advcash USD, Yandex RUB, Visa/Mastercard RUB + USD
It appears these websites are not crypto exchanges/marketplaces but rather payment processors. Is this correct?
Another kicker is that they are now saying in a few weeks EDR will be listed on all major Crypto exchanges, despite the foundation of their pitch being that no such thing would happen for 2 years (22 million coins mined).
When it comes to the UK ltd company the 10 million had me scratching my head, this is specifically used in pitches to give the appearance that the company has put down a few million with the government or that it’s worth that amount (obviously bollocks). I couldn’t find a share amounts on the registration.
Sounds like it. A proper exchange lets users exchange cryptocurrencies for eachother and withdrawal in fiat.
Conversion to fiat only is just a payment processor. And E-Dinar in one way or another are probably behind the offered non-exchange choices.
A relaunch/name change to hit the USA/EU/UK countries?
New website with people named in video and at the Bottom of the page “© 2016 HOLDERS CRYPTOCURRENCY SERVICE CENTER COMPANY LTD.” the UK ltd company. Misleading press release page.
edrcoin.com/
Crypto people are not falling for it
bitcointalk.org/index.php?topic=1408022.0
yobit.net/en/trade/EDR/BTC
Is this their realtime mining record? or simply a record of the 3.5 million premined EDR coins they have full control over and people are required to buy for mining/monthly 20%?
api.blockchain.mn:3001/
Hopefully people with cryptocurrency knowledge can expand on what all this actually means.
I using E-Dinar account around 1 month. was really afraid about fraud.. but I wold say – it is working honestly..
Just Play with up and down rating of criptocoins and make your own business.. also they giving some bonuses ..
as I can see at the moment it is not a fraud and ADR registered on many oficial pools.
A Ponzi points business model can’t work “honestly”, it’s financial fraud from the get go.
You believing it’s a legitimate business is evidence of that.
Why didn’t u mentioned the EDRCoin? Which is the strategic partner of EDR.
EDR can be withdrawn at anytime on the platform with no restrictions into EDRCoin(into ur EDRC wallet). And the EDRC is currently the 11th ranking of world 24hr volume. (Daily transaction volume of EDRC is 1.3 million USD).
So I assume EDR can be a mining of EDRC and push up its amount and transfer volume, so that the EDRC’s price would go up with more people involved in this game. Then EDRC could be an outlet for the EDR platform’s inflation. Pls comment. Thx.
I did, “EDR units”.
They’re just Ponzi points that have no actual value outside of the MLM opportunity.
CoinMarketCap currently lists Waves as 11th. EDRC doesn’t even have a rank.
@Jeff
The purchase cost is fixed at $1. Where are they finding the funds to cover 20% a month flat rate bonus + referral bonuses?
To hell with E-dinar!
Says who? EDR? Your upline? A voice in your head?
This sort of bullsh*t is why I have nothing to do with alt coins.
It’s Proof of Stake with a 3.5m pre mine, the only way you can get on the PoS mining (staking) ride is to buy some EDR on one of the shit exchanges that lists them.
And who is the only seller…? That’s right, the dev with his pre mined 3.5m stash.
Pure pump, dump, pump, dump, like playing monopoly with all the bank’s money too.
The exchanges that handle it?
Have a look at this list, follow the links and work it out yourself:
coinmarketcap.com/currencies/edrcoin/#markets
Hint: any coin which has Yobit/C-Cex as its main exchanges….forget it.
Good write about edinar, pls can u advice about legitimate cryptocurrency to invest in. Was sceptical abt edinar, ur article confirmed my curiosity.
This isn’t the place to ask for investment advice.
How about advice on what NOT to invest in?
Avoid any cryptocurrency that has an MLM type comp plan attached to it.
what if someone asks:
“Should I invest time reading this blog?”
wacky right?
this shows that the EDRC is at #5 under the 1d volume and the 7d volume? coinmarketcap.com/currencies/volume/monthly/#USD
#5 is “NEM”. EDRC is #9.
In any event, this is irrelevant. How much is being invested into EDRC on at any given moment doesn’t justify E-Dinar’s Ponzi business model.
And meaningless, with over 50% of trading in Yuan on commission free DABTC, just Chinese whales playing games.
Oz and co your comments about e-dinar was making sense until you sounded wacky.
E-dinar is new to cryptocurrency but that doesnt make it ponzy as you claim.
I know about bitcoin and onecoin and they all worked the same way just difference in business approach.
Do more findings before you bring down someone because they may bring you down one day too!
I never claimed as such, you made that up on your own.
The use of newly invested funds to pay off existing investors makes E-Dinar a Ponzi scheme.
Bitcoin no. OneCoin yes, which is why it’s also a Ponzi scheme.
For being a Ponzi scheme? Yeah, good luck with that.
Between the two of us, clearly it is not I that needs to “do more findings” on the subject-matter.
Oz,
E-Dinar has an official cryptocurrency so this article is back dated.
As for it being a ponzi scheme? No, I don’t think this one is as it’s cyrpocurrency and to earn money from the business you do not need to invite referrals to earn.
Does anyone know the owners of Bitcoin? No they don’t, but look where that’s ended up…
Not really, you still get EDR points through E-Dinar which pay a 20% a month ROI.
The EDRCoin cryptocurrency they’ve tacked on is just pump and dump. The owners of E-Dinar sell their premined shitcoins to gullible E-Dinar affiliates.
The EDRCoin cryptocurrency price crashes and the owners do a runner with everyone’s money.
Points before they are converted aren’t a cryptocurrency. And needing to invite referrals is neither here nor there.
Bitcoin wasn’t an MLM business opportunity.
E-DINAR is a Ponzi Scheme. Only people that are on that scam is going to say good things. Come on guys. Everyone can see it’s a scam. From the fake fiverr videos, to the ponzi points…
There is two videos at youtube exposing that scam:
youtube.com/watch?v=jh2_k2ps4BA
youtube.com/watch?v=gDbaki7JuhU
Keep up with the good work Oz.
please explain why e-dinar managed to creep in through a lot of exchangers.. like perfect money and bitcoin…
how come they allowed it to be exchanged? if this is a valueless coin?
Because the pump and dump scam sees the owners sell you EDR points, which you then covert into EDR.
EDR is a worthless cryptocurrency.
The owners pump you up on the potential value and then dump their worthless generated points on you.
The only people trading EDR are E-Dinar affiliates, in the hope that magically the coin will increase in value (because the person that sold them the points/coins in the first place told them so).
if i am an exchanger i would not trade anything that of no value ..i mean that just like crazy ..
The cryptocurrency niche is highly speculative. And I hope you’re not looking at market cap websites and thinking they are exchanges.
just one of the many exchangers: ewcryptowallet.biz
Come on chief.
That domain was registered a week before E-Dinar’s own domain.
.Biz domain.
The logo is stolen from Carrefour (French supermarket chain).
40% of traffic from Russia and Ukraine.
That’s not so much an exchange as a private trading platform between members. The limited selection of cryptocurrencies (most of which are actually payment processors) suggests whoever owns it is actually an E-Dinar affiliate.
Show me one legitimate and mainstream cryptocurrency exchange (Alexa ranking less than 50,000) featuring EDR.
Oz is not gonna get any gain in going against e-dinar, so that’s why i respect all what he is been saying here. And thanks to you because i wont be able to do all this findings myself, and for me that i have fell into such pit before i wont want to fall into it again (like AUTOMATICMOBILECASH) they ran away with my money.
Although for what I understand about all this things is that, people may still be getting their withdrawal as far as new investors is coming-in and some people may make it from them but its not gonna last.
Lastly, is 99% clear that e-dinar is a scam, I will rather lose my money to Forex or binary brokers that is well regulated and registerd than to someone i don’t know and i can’t trace to anywhere. Big Thanks.
As nicholas said in its previous post saying:-
See that does not justify that e-dinar is not fake, because automobilecash too offer such services by making money through referral or not referal at all and at the end of the day they still ran away with my money.
Not only my money my wife’s money and all my WhatsApp group followers i introduced to it. In fact it pains me alot.
And to admin, is only the fake ones you use to talk about here? Why not go further to bring to us the good ones too. Or are you telling me there is not any good investment out there?
BehindMLM is not here to give you investment advice.
If you’re finding the company’s you’re looking up have bad reviews, that’s a reflection of what you’re after in an MLM opportunity.
After doing extensive research into E dinar MMM and One coin any one would be foolish to not consider all first come opportunities.
Sure you will make money at the front door but if you stay the night and relax in the comfort of these doll houses you will find your self flat on your back.
Now I think the world has a place for good MLM opportunities but Crypto is one that you dont want to mess with unless your happy to take the risk and to tell all that you invite that this baby will die at any time so enter at your own risk.
My question is simple not that these guys have great intention but is it possible after building a network of lets say a few million people to use that leverage to create confidence in the Crypto currency community.
I’m thinking can this strategy work since MLM has been used to create growth and if the product is confidence and creating a demand then is it not possible for 2 million people in a closed community through MLM create value so that exchanges will integrate what was a internal private ponzi coin.
Cam a ponzi coin later have value???
Nope, because nobody outside of the income opportunity is going to accept points propped up by nothing more than Ponzi investment.
Extremely unlikely. Ponzi coin has no value outside the reality-distortion field of its believers. By “having value”, I assume you mean among the general public.
The only way a cryptocurrency gain value is when the general public believe in it enough to use it for what a currency is for: exchange of value.
The “ponzi coin” is not for exchange of value in the public… It is a siphon to suck in hard currency from the outside. You pay them real money, they give you something of dubious value.
Crypto currencies have a degree of trust in them, since the whole thing is auditable by anyone – the blockchain is public, the code is public.
Contrast to the schemes where there is no public visibility of the mechanism by which it works, such that it could just be numbers on a spreadsheet for all we know. Why would anyone trust that?
Sure they could be based on sound basis and that gets revealed and pushed to the public later, but I’d be surprised.
No.
To continue your analogy, the doll’s house is still a doll’s house.
The doll’s house creators do not have the resources, ability or tools to build a real one, nor the motivation to waste the $$$$’s they have stolen in trying to.
Their mission has been accomplished.
Im on to about 200 edc per day invited many people and making a fortune now.
This is not a ponzi scheme or a pyramid scheme. i did lose 500 at one time but now i have got more than that money back.
Yeah… except EDC isn’t actual money and the “fortune” you’ve made is backoffice monopoly money that doesn’t exist.
You’ve still lost the $500 you invested, you just haven’t accepted it yet. Or you’ve made it back scamming new affiliates into E-Dinar, one or the other.
How is e dinar back office money that doesn’t exist?
The e dinar coin is on the blockchain and getting added to more and more exchangers as time goes and can be sold for btc instantly.
So I would like to know why you would call it back office money please ?
Your E-Dinar backoffice points have nothing to do with a blockchain or public exchanges.
Sorry your answer does not make a lot of sense. You said the e dinar coin is back office Monopoly money and does not really exist? (Ozedit: No I said your backoffice points are monopoly money. Derail attempts removed.)
You said edc isn’t actually money and the fortune you’ve made is backoffice Monopoly money to kasim.
I use my edinarcoin by exchanging it for Bitcoin on the exchanges and sending it to a Bitcoin debit card. So how can you say it’s not real money ?
Kasim said he’s “geting 200 EDC a day”. That’s backoffice monopoly money. It’s not legitimate crytocurrency derived from a public exchange.
What you can or can’t do outside of the the E-Dinar business opportunity is irrelevant.
And even then, the fact that you have to exchange EDC into something else to derive value from it should be self-explanatory.
Face it, outside of E-Dinar EDC is just another worthless pump and dump altcoin.
Again what you’re saying does not make sense. The e dinar coin or edr is on the exchanges and can be cashed out via btc within a matter of seconds..
I hope you have seen the edinar coin blockchain wallets And not just speaking about e dinar from when it was an internal project on the .io website !!
(Ozedit: Offtopic derail attempt removed)
This is the last time I’m going to say this: What happens outside of E-Dinar has nothing to do with the points in your backoffice.
When you invest in E-Dinary, they give you points. These points have a represented backoffice value, which is incorrectly reported by affiliates as real money.
The points are completely worthless, unless they are converted to pre-mined EDR coins (pump and dump mined by the E-Dinar admins). EDR Coin itself is practically worthless and approaching a value of $0 (the only people trading it are E-Dinar affiliates).
If you don’t understand that, that’s not my problem.
Any further attempts to derail by crapping on about what you can do with EDR obtained outside of the E-Dinar MLM opportunity will be marked as spam.
Still not satisfied with the answer but we’ll leave it to that. My understanding is completely different.
Myself along with my team make a killing from e dinar. It is an absolutely massive opportunity and it has not even started yet. It’s only for the ones who understand this business. Thank you for your responses and have a good day :).
From the sounds of it you have no idea how E-Dinar works (other than your own hip-pocket).
The reality is whether you understand how you’re stealing from people or not doesn’t matter. Those that do will see E-Dinar for what it is, another Ponzi points scheme.
And when you invest in e dinar the company does not give you points. You buy the coins from real time sellers on the exchangers like you and me.
The trade volumes are increasing with time. And as we all know the success of any cryptocurrency on the blockchain is to do with supply and demand solely as it is with Bitcoin.
You saying that even passively since September people have made more than 3 times or more than they invested in e dinar coin since the coin was launched on the blockchain. We shall let time do the talking 🙂
No you don’t, because that’s not how legitimate public exchanges work. Public exchanges aren’t attached to the E-Dinar MLM opportunity.
You get points, which you convert to EDR (pump and dump coins premined by the E-Dinar admins).
The public value of EDR is dropping (as all pump and dump MLM altcoins do). There is no legitimate use for the coin so there’s no supply and demand outside of the income opportunity (desperate affiliates).
By recruiting new investors. That has nothing to do with EDR.
Not by recruiting new investors. I said passively. Anyway let’s let time do the talking. wish you all the best for the future.
Mate you recruit, someone else recruits… you’re still earning via recruitment.
And anything “passive” in your backoffice is of course not real money, which brings us back to square 1.
EDR isn’t earnings until you’ve got actual money in your hand.
You do that. I prefer to use common-sense and save myself time.
Worthless MLM altcoin is worthless. You’re welcome.
I’m sure someone’s team have made a killing. Does that make it legit and a good investment?
A 2.5 BILLION premine “coin” which was pumped in extremis last August in order to deliberately steal millions from users, thru a pre planned scam set up involving conversion of the original e-dinar into EDR.
Still under total control of the criminals that own the pre-mine, it’s just used as an eke out dumping ground now that the main theft has taken place, the price manipulated with fake volume.
Anybody ask why EDinar’s own exchange is doing $300k a day at $1, whilst the real (comparatively speaking) world is trading at 55 cents?
People “understand this business” quite well, scammer.
Hey there!
So what is the difference between btc and edr which makes one of them better than the other?
Thank you!
One isn’t attached to a Ponzi business opportunity run by scammers.
Whether that’s better or worse depends on if you intend to scam people or not.
EDR fans: Name me one crypto currency that has some scheme (be it MLM or other “referral system”) and is PUBLICLY used. One, just one. There are none.
Learn about Bitcoin and its code. Don’t just yell “Why is BC any better???”. There’s huge difference by design alone.
Make your conclusions from that. Any coin that is not publicly traded or used is worthless by this fact alone.
In your website you can see that your account has gazillion worth of “crypto currency” in there. In reality – try to cash that out? How does it go?
You’ll get excuses like rain in the rain forest. Also you can’t buy anything with it (except maybe some internal stuff).
Problem with these comments is that they are based on this old review. A lots changed and you earn more edr passively in the back office. 0.65% per day on your wallet balance.
You can send these coins from your wallet to an exchange instantly and sell them for btc. There are no points etc just edr coins.
For example. If I bought 100 edr on the exchange on Friday and put them in my edr wallet the same day, on Saturday I get 0.65 edr added to my 100 coins and then 0.65% of 100.65 edr added on Sunday. Same again today and again tomorrow etc. At anytime I can send these coins back to the exchange and sell them.
Yes I’ve withdrawn and sold them for btc before you ask.
Still monopoly money.
You mean you can try. There’s no demand for EDR on public exchanges other than between E-Dinar affiliates.
The internal exchange is another matter, it’s manipulated by the E-Dinar admins and is Ponzi fraud (using newly invested funds to pay off existing investors).
Of course you have, and will continue to do so until new investment runs dry. Then it’s Ponzi collapse boomboom go byebye.
In terms of proving legitimacy, this is on par with ponzi victim statements like “They’re paying regularly”.
Do you even understand, or care, what a “pre-mine” is?
Oz. I was talking about an exchange site like Livecoin for example.
I can and have bought EDR from Livecoin, then transferred it to my Edinar wallet which then earns me 0.65% per day. I can and have then transferred EDR back to the Livecoin exchange and sold them for Bitcoin.
No internal trading. No recruiting blah blah blah.
It’s all a bit pointless discussing anyway because it’s changed so much since this article.
Perhaps a new one is required with all the updates.
I’m aware that there is still some form of affiliate option, but all I use is the EDR wallet for earning a daily profit and the exchange sites to buy and sell EDR for more profit.
EDR in the EDR wallet are valued and capped at $1 and on the exchange they are valued around 60-70 cents. Obviously if the value in the exchange sites like Livecoin go above $1 I will buy EDR from the EDR wallet for $1 and sell on the exchange to make a profit, but for now it is the other way around.
If you’re not participating in the E-Dinar MLM opportunity and/or aren’t interested in it, obviously this review isn’t for you.
But what I do was born from the Edinar opportunity. What I am saying is that it’s nothing like what this article is now, so maybe comments should be stopped or a new review be written.
What you do has nothing to do with the MLM opportunity. As long as there’s an MLM opportunity attached to E-Dinar the review is relevant.
Trully this is frustrating me after I have invested more than R100 000 in this edr thing!
Mr Oz will you please make another way for me to catchup you please ignore need to talk to you man please.
There’s a contact button at the top of every BehindMLM page.
Nothing has been changed yoyo.
I will put some points here:
1) if e dinar is minnable currency where is the minning pool.
2) block chain showed on their website clearly shows their internal e-dinar wallet to wallet transfer nothing more than that.
3) last but not least yobit most hated exchanger by so far these fraudster raise their volume by giving good money to these exchangers.
Keep watching how wrong you all will be…im sure when i come back here a year after this whole section would be deleted.
There’s nothing to be wrong about. It’s not like E-Dinar’s compensation plan is a secret.
If gullible idiots are still joining in a year E-Dinar will still be a Ponzi scheme.
Going by Alexa stats for their website though, E-Dinar is unlikely to survive a year.
lol. yeah…mmmm….no.
this scam isn’t even original enough not to name itself after another huge scam of actual, existant currency (and not some fake pretend currency that doesn’t exist) that’s been around for ages. dumbass.
Awww whip seems like you really got whipped by edinar scam in the past. Awwww…i joined last year. Got compensated and started again got folks invited in this scam and now im making around 300 a day with this scam.
Not only… i just went to the cash machines and took out 3000 quid to scam more. Let me make more money out from this scam so sushhhhh lol.
Nothing more repulsive than a boasting scammer. Ugh, the slime.
lol. wrong yet again. recruitment must be taking quite the hit that you have to come here and lie about the scam.
Of course you did.
You know of the only cash machine in the UK that allows withdrawals of £3000.
Why then are readers finding it so hard to believe you’re anything more than a scamming pimp, do you think ???
I never said its a scam. Was going ahead for what you guys think it is…well guess what. Keep thinking lol i withdrew 3000 today. 1600 from loyds bank machine… abd abother 1400 bos machine.
Funny how desperate you guys are to take out little points to degrade this soo called scam. Anyway goodluck with it. I wouldnt call this a scam more of a risk.
@Kaz
Whatever helps you sleep at night. Stealing money from the people you recruited would weigh heavily on a normal person’s mind.
Stealing lol its more of an investment opportunity. People take risks rather than boasting on how much of a scam this could or couldnt be.
(Ozedit: Offtopic derail attempts removed)
You’re literally stealing from people who join after you.
Do you know of Bitcoin debit cards that have a maximum withdrawal limit of £1600 a day mate. Get your facts right lol.
Xapo and wirex to name a couple so how can you say to Kaz he’s wrong. Get your facts right!!!
Kaz said he / she used Lloyds Bank to withdraw.
Lloyds has a maximum £500 per day ATM withdrawal limit.
Stick to pimping fake crypto currency schemes.
You’re not very good at dealing in logic or facts.
I dont even bank with lloyds bank. I used one of thier cash atms to withdraw money out and i have receipts to prove it.
You just cant comprehennd the fact that actual people are making money out of this system now you could name it theft.. piggybank… ur mums account.. it wont change our minds.
E-Dinar isn’t a Ponzi scheme because you’re stealing money. It’s a Ponzi scheme because the money you stole was sourced from subsequent investors.
The facts are the facts. Whether you’re comfortable with being a scamming thief is neither here nor there.
The fact that you made money out of it does NOT disprove it’s a ponzi scheme. If this fact is not getting through, that’s your problem.
Oz can you prove to me and everyone on your forum that this money that im making is from “subsequent investors “?
If you believe a 20% monthly ROI on a regular basis is possible, there’s no point trying to prove anything to you.
Whether “Kaz” believes it or doesn’t believe it, nobody really cares.
It’s your money and you can do with it as you wish.
If you want to steal others’ money, it’s on you.
Simple: money doesn’t generate 20% interest by itself. If so, banks would be using them. Thus, any “gains” you obtained must be from subsequent investors. Simple logic. Wonder why you can’t see it?
Here’s an idea.
If you’re so certain a return of 20% per MONTH is possible, why don’t you go to your bank and take a loan for say $10,000 @5% interest per YEAR then put it into e-dinars.
You’ll have the bank loan paid off in next to no time and you’ll be a millionaire living on a beach somewhere.
OR
You could re read Oz’ review and then ask yourself where the money to pay 20% per MONTH is coming from if it’s not from those who joined after you.
@Kaz
Yup. E-Dinar’s Ponzi business model. That and your recruitment commissions, both stolen from people who joined after you.
Littleroundman your answer does not justify or explain stealing. Stop assuming and give me facts.
The 20% .. you tell me where its coming from? You and your mate keep saying its stolen from others joining. Can you prove this?
You’re the one pimping a fake altcoin scheme.
You’re asking people to invest, the onus is on you to prove the legality and viability of the “opportunity”
It’s up to you and e-dinar to prove where the money is coming from, if not from subsequent joiners.
Trying to flip the burden of proof on us? You’re promoting it or justifying it. It’s up to YOU to prove it’s legal, viable, and profitable to get people to invest.
You don’t have to believe us, but demanding “proof” while providing none of your own just means you can’t debate.
@Kaz
Last time I’m going to say this, all the proof you need is in E-Dinar’s compensation plan. It uses newly invested funds to pay off existing investors, and pays affiliates to recruit.
If you wish to ignore the comp plan that’s not my problem.
E Dinar market switched to ROM.
ROM is only good for small investors for the people with 0.05BTC order or so, but if you have to sell 1BTC worth of ROM coins and with the limit amount of sell orders that you can put.
It will take ages for big investors to sell everything, the only exchanger for EDR was yobit now they have moved ever single EDR to ROM.
An interesting development.
After the E Dinar crew pretended to Yobit that they had been scammed (which is what probably persuaded them to ROM it) Yobit now don’t believe them after no evidence was provided and appear prepared to doxx the E Dinar scammers themselves:
twitter.com/YobitExchange/status/839146224372576260