Power Mining Pool Review: €50 EUR in, €70 EUR out Ponzi scheme
Power Mining Pool operate in the cryptocurrency MLM niche and are headed up by Andrew and Mike Conti.
The Power Mining Pool website is hosted in France. At the time of publication Alexa estimates the UK is the largest source of traffic to the Power Mining Pool website (54%).
Other than representing Andrew and Mike Conti are brothers based out of Europe, no specifics are provided.
On the Power Mining Pool website, the Conti brothers are represented by cartoon avatars. I had a poke around for their MLM histories and turned up nothing, which I’m flagging as highly suspicious.
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.
Power Mining Pool Products
Power Mining Pool has no retailable products or services, with affiliates only able to market Power Mining Pool affiliate membership itself.
The Power Mining Pool Compensation Plan
Power Mining Pool affiliates invest €50 EUR on the promise of an advertised €70 EUR ROI.
Referral commissions are available on funds invested by recruited affiliates, 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 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.
Power Mining Pool cap payable unilevel levels at ten, with commissions paid out as a percentage of funds invested across these ten levels:
- level 1 (personally recruited affiliates) – 10%
- level 2 – 5%
- level 3 – 4%
- levels 4 – 3%
- level 5 – 2%
- levels 6 to 10 – 1%
Rank Achievement Bonus
There are ten ranks within the Power Mining Pool compensation plan.
Upon qualifying at the Jade and higher ranks, a one-time Rank Achievement Bonus is paid as follows:
- Member (sign up as a Power Mining Pool affiliate) – no Rank Achievement Bonus
- Associate (invest at least €1000 EUR) – no Rank Achievement Bonus
- Jade (invest at least €2500 EUR and recruit at least three Associate ranked affiliates) – €250 EUR Rank Achievement Bonus
- Pearl (invest at least €5000 EUR and recruit at least three Jade ranked affiliates) – €500 EUR Rank Achievement Bonus
- Sapphire (invest at least €12,500 EUR and recruit at least three Pearl ranked affiliates) – €1000 EUR Rank Achievement Bonus
- Ruby (invest at least €25,000 EUR and recruit at least three Sapphire affiliates with a total of at least five Sapphires in your downline) – €2000 EUR Rank Achievement Bonus
- Emerald (invest at least €3500 EUR and recruit a least three Ruby affiliates with a total of at least five Rubys in your downline) – €3500 EUR Rank Achievement Bonus
- Diamond (invest at least €50,000 EUR and recruit at least three Emerald affiliates with a total of at least five Emeralds in your downline) – €5000 EUR Rank Achievement Bonus
- President (invest at least €62,500 EUR and recruit at least three Diamond affiliates with a total of at least five Diamonds in your downline) – €7500 EUR Rank Achievement Bonus
- President Millionaire (invest at least €75,000 EUR and recruit at least three President affiliates with a total of at least five Presidents in your downline ) – €10,000 EUR Rank Achievement Bonus
Check Match Bonus
Ruby and higher ranked Power Mining Pool affiliates receive a Check Match Bonus on referral commissions earned by personally recruited affiliates.
- Ruby affiliates earn a 3% Check Match Bonus
- Emerald affiliates earn a 4% Check Match Bonus
- Diamond affiliates earn a 5% Check Match Bonus
- President affiliates earn a 10% Check Match Bonus
- President Millionaire affiliates earn a 20% Check Match Bonus
Joining Power Mining Pool
Power Mining Pool affiliate membership is free.
Participation in the attached income opportunity however costs €99 EUR and an investment of at least €50 EUR.
Conclusion
The ruse behind Power Mining Pool’s €70 EUR ROI is cryptocurrency trading.
In the Power Mining Pool backoffice it’s represented that the company generates revenue through altcoin mining and “currency exchange”.
Altcoins purportedly mined by Power Mining Pool include: Ethereum, Burst, GameCredits, Dash, Iota, Nem and Monero.
Naturally Power Mining Pool provide no proof of any cryptocurrency mining or trading taking place.
That aside, Power Mining Pool’s business model makes little sense. If Andrew and Mike Conti were able to legitimately generate consistent trading volume enough to pay affiliates and support an MLM compensation plan, why would they be sharing it with randoms over the internet?
The only verifiable source of revenue entering Power Mining Pool is affiliate investment, the use of which to pay affiliate ROIs makes Power Mining Pool a Ponzi scheme.
On top of that referral commissions paid out on affiliate investment add a pyramid layer to the scheme.
As with all Ponzi schemes, once affiliate recruitment dies out so too will new funds entering the system. That will leave Power Mining Pool unable to meet its advertised ROI obligations, eventually prompting a collapse.
Mathematics guarantees that in order for a few to make money, the majority of investors in a Ponzi scheme must lose it.
This program is awesome, and you have wrong. All make money here because of the mining and trading. You don’t have to recruit to make money here 😉
My no.1 program 2018;) See you in dec 2018, when I have retired because of this program.
@John,
Mathematics guarantees that in order for a few to make money, the majority of investors in a Ponzi scheme must lose it.
This is not a ponzi scheme…. They mine and invest your money… can’t lose… (Ozedit: recruitment spam removed)
I put in $1000 next year, and think it is a safe investment… I started yesterday and earn money already.
Wanna bet ???
littleroundman; We can bet 1 Bitcoin… Or you guys think it a ponzi too?
Nah, it’s a pyramid scheme AND a ponzi
@John, when someone in a ponzie pyramid scheme says “you can’t lose”, it is a sure certainty of the opposite for the huge majority.
@John
And you can provide audited accounting verifying this?
Of course you can’t, because Power Mining Pool is just another MLM crypto Ponzi.
Somebody has to recruit though. No new recruits = no money for you to steal.
They will have a livestream of the mining next year in a event… Thank you for your open mind Oz… I know you can’t discuss with you… So see you next year 🙂
@John
What’s there to livestream? Either Power Mining Pool provide audited accounting showing external revenue or…
Well clearly it doesn’t matter, they’ve already managed to get gullible suckers such as yourself to invest with no proof of external ROI revenue.
I’m in agreement with John, Ive invested and made money 🙂
What are you expecting here, a pat on the back for stealing money?
Good Jack 😉
Oz: Mining isn’t stealing…What is wrong with you?
Power Mining mine in name only. Ponzi scamming is very much stealing.
Why every single business that behindMLM review is a ponzi?
i have been watching their articles for a while and never seen a good review of any business.
Something to think about.
Not every single MLM business, but the ones we do identify as Ponzi schemes is because… wait for it, they are.
If the majority of MLM businesses you’re looking up on BehindMLM are identified as Ponzi schemes, stop being attracted to Ponzi schemes.
There is no evidence of mining, and MLM ponzi schemes are there to attract customers to feed the scheme.
If u don’t recruit, it doesn’t mean others don’t. and basing the validity of a company mining on what they say without evidence or that they will have evidence is still hearsay.
Of course companies would payout to acquire their numbers, but companies have also been known to pull out when shit hits the fan. The new customers are the ones that lose out in the end.
Even if they are mining and have audited accounts and are making a decent profit, you cannot escape the fact, that’s its a pooled investment scheme = That’s people sending money to an entity that controls the money.
This requires that they be licensed and the promoters of the said scheme be also licensed, to sell a regulated product.
The scalpers obviously could careless it seems, even after Zeek rewards, Traffic Monsoon, Onecoin, USI-Tech, Bitconect and a dozen other deals that went south?
It’s a wonderful concept and I can imagine that the mining is quite doable and that people are making money but to run something like that without being compliant is just a game Russian roulette.
Remember the Goldless Rule, ROI + MLM commissions = Bye Bye and not Buy Buy.
C
Some quik maths here, tells me that there appears to be a 45% payout. There could be more but i cant see that here.
99euro fee to register and they payout 45% commissions on that and thats ok.
But
50euro mining packs paying 45% commissions on those is a BIG problem, if they in fact payout on funds invested.
Remember with a 50euro mining pack they need to payout 70euro
But
50euro – 45% payout 22.50euro = 27.50 euro balance and they still have to run the company and do mining and promotions and Tax.
What sort of business model can take on 140% compounding liability and last longer than than 4 business quarters?
C
PMP is awesome I have made 5 btc out this system lots of great people n support in PMP. Lives changed for the better.
I think you may want to rethink n rewrite your review once u join mate.
Probably not the lives of the people you’ve stolen from.
Pass. I don’t need to personally steal money from people to identify a Ponzi scheme.
Never fear, with your attitude to participating in ponzi and pyramid fraud, you’ll give it back in the next one and the next one and the one after that.
People who think they can beat the system and math = always funny.
If I may ask, when did this power mining pool come into existence? I need an answer with a proof.
Thanks.
The Power Mining Pool website domain was registered on June 27th, 2017.
The company would have launched sometime after that.
Site is down supposedly changing servers. People were told not to fear they didnt lose their money! Yet.
I have just invested $2500 Euro, was in it for not more than a month and WHAM, I could not open the website. it kept saying Closed for maintenance. What BS A company.
in North Carolina issued a Desist from operating and is now hunting them down.
When I contacted the person that invited me he said “oh well a lot of people lost money”. No remorse for what he did.
There are so many scams going and people continue to feed into them including me. Shame.
So how do you all feel now? My question is to those people who think it’s a legit company, “Can you open the website”?
So where are all of those above who defended PMP they seem to have gone Quiet lol
Those who are behind PMP and those above who defended them have migrated to the New Tycoon Plus ponzi scheme started by Singapore Success Resources.
Its a matter of time before they are listed in the Singapore MAS investor alert list.
power mining pool update any one
Issued a cease and desist in the US.
Admins did a runner with everyone’s money. Sorry for your loss.
Power Mining Pool is gone… as OZ indicated the U.S. issued a Cease and Desist and the Owners did a “DRIVER” with peoples money and can been seen buying LAMBOS and FERRARI”S at the local dealership…
SCAMMERS….
i invested last year. I forgot about it. Earlier this year when I checked, it had disappeared off the internet.