Red Cloud Mine Review: Completely bogus BTC mining ROIs
There is no information on the Red Cloud Mine website indicating who owns or runs the business.
The Red Cloud Mine website domain (“redcloudmine.com”) was registered on June 3rd 2016.
Despite this, Red Cloud Mine claim to have been in business since 2011:
We have been in business since 2011 but officially we started in full pace since 2014.
The Red Cloud Mine website itself appears to be a cheap template clone design, with the same design featuring on other websites:
Of note is the “about us” section of the template design has been left as “John Doe”.
I am John Doe, a senior advisor and administrator for an independent owned cloud mining company called Red Cloud Mine, Inc.
First of all I am a mining expert and I was a mining analyst for 13 years.
The 13 year mining claim it totally bogus, with decentralized cryptocurrencies only surfacing in 2009 (7 years ago).
Photos used to represent businessmen on the Red Cloud Mine website are stock photos belonging to Minerva Studio.
A “corporate address” on the Red Cloud Mine website is actually that of Lundin Mining.
Lundin Mining appears to be a legitimate mining company, with precious metal mining operations around the world. As far as I can tell it doesn’t have anything to do with Red Cloud Mine.
As far as the company itself goes, everything on the Red Cloud Mine website appears to be made up.
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 Red Cloud Mine Product Line
Red Cloud Mine has no retailable products or services, with affiliates only able to market Red Cloud Mine affiliate membership itself.
The Red Cloud Mine Compensation Plan
Red Cloud Mine affiliates invest 0.1 to 50 BTC or more on the promise of a 3% a day ROI for 60 days (180%).
Referral Commissions
Referral commissions in Red Cloud Mine 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 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.
Referral commissions are paid out as a percentage of funds invested by affiliates in a unilevel team.
How much of a percentage is paid out is determined by what level of the unilevel team funds are invested on:
- level 1 (personally recruited affiliates) – 9%
- level 2 – 5%
- level 3 – 3%
- level 4 – 2%
- levels 5 and deeper – 1%
Team Builder Pool
Every Red Cloud Mine affiliate who recruits ten affiliates who invest at least 5 BTC, earns a share in 2% of funds invested in Red Cloud Mine.
Although not explicitly clarified in the Red Cloud Mine compensation plan, it is believed the Team Builder Pool is paid out monthly.
Joining Red Cloud Mine
Affiliate membership with Red Cloud Mine is tied to a minimum investment of 0.1 BTC.
Conclusion
Your first tipoff that not all is what it seems is the completely bogus Red Cloud Mine website. All of the information about the company, its operations and management is completely made up.
Your next tipoff is the compensation plan. A 180% ROI in 60 days, irrespective of bitcoin price fluctuations and mining difficulty?
Quite obviously Red Cloud Mine are using newly invested funds to pay off existing investors, making it a Ponzi scheme.
There’s no proof on the Red Cloud Mine tying a 180% ROI to bitcoin mining. And even if there was, it’d probably just be unintelligible jargon copy and pasted from some other website.
As with all Ponzi schemes, once invested funds run out Red Cloud Mine will find itself unable to meet its ROI obligations.
At that point the scheme collapses, with the majority of investors losing money.
Due to the Red Cloud Mine’s use of bitcoin, the chance of recovering victim funds will be slim to none.
