CoinMD collapse backflip, new compensation plan
Aborted exit-scam or actual collapse avoided?
Within hours of CoinMD’s $100,000 cash grab being shut down by Crowdfunder, Tom McMurrain has backflipped and announced all is well.
In a new email sent out to CoinMD affiliate investors, McMurrain (right) states that
6% of the crowdfund has been collected and we have several leaders who have committed to raising $10k each from their team efforts.
We have a serious commitment from a larger investor as well.
Shut down WILL be averted and new development is already underway.
CoinMD affiliates who give McMurrain $25,000 are promised a 150% ROI in nine months.
CoinMD affiliates who give McMurrain $1000 are eligible to somehow double their CoinMD point balance;
If you have a team – at a minimum raise $1000 to help complete the crowdfund.
If you want to double the amount of coins that you have – talk to me – we will make a deal commensurate to the investment amount.
It seems secret backroom deals are the order of the day, and that’ll be enough to keep CoinMD’s doors open for the foreseeable future.
In addition to the shutdown backflip, McMurrain has also announced a series of CoinMD compensation plan changes.
As reviewed here on BehindMLM in mid 2017, CoinMD was built around CoinRewards and CoinMD (CMD) points.
Since then a third points system, CMDT, has been introduced.
CMDT has been renamed to U$D, with affiliates required to pay membership fees in both U$D and CMD (split 50%).
New CoinMD membership fees are as follows:
- Free – not really fee because you can’t access your CoinMD wallet unless you pay $29.95 a year
- Prime – $99 and then $29.95 a year for wallet access (capped from withdrawing up to 10% of wallet amount a month)
- Prime+ – $199 and then $29.95 a year for wallet access (capped from withdrawing up to 15% of wallet amount a month)
- Bronze – $550 and then $29.95 a year for wallet access (capped from withdrawing 20% of wallet amount a month)
- Silver – $1100 and then $199 a year + $29.95 a year for wallet access (capped from withdrawing up to 25% of wallet amount a month)
- Gold – $3300 and then $199 a year (maybe more) + $29.95 a year for wallet access (capped from withdrawing up to 30% of wallet amount a month)
- Platinum – $5500 and then $199 a year (maybe more) + $29.95 a year for wallet access (capped from withdrawing up to 50% of wallet amount a month)
When CoinMD launched, McMurrain was asking for up to $50,000 in initial affiliate membership fees.
In addition to being slugged ongoing account fees, CoinMD affiliates are also subject to 0.5% transfer fees.
If you stop paying Tom McMurrain fees, your CoinMD wallet goes poof.
And yeah, apparently this is supposed to make healthcare more affordable…
Bundled CMD points begin at the Silver tier:
- invest at the Silver tier and receive $1100 in CMD
- invest at the Gold tier and receive $3300 in CMD
- invest at the Platinum tier and receive $5500 in CMD
Referral and residual binary commissions on invested funds are still in the compensation plan, with global commission caps applied based on fees paid.
- Free affiliates can earn up to $100 a week
- Prime affiliates can earn up to $250 a week
- Prime+ affiliates can earn up to $350 a week
- Bronze affiliates can earn up to $550 a week
- Silver affiliates can earn up to $1100 a week
- Gold affiliates can earn up to $3300 a week
- Platinum affiliates can earn up to $25,000 a week
Oh and probably the biggest announcement, CoinMD will be “moving to the Ethereum platform”.
Why waste money on programmers when you can just piggyback with ERC-20 token scripts?
The move to ethereum will enable McMurrain to easily create ERC-20 tokens on demand.
Not to mention exit-scamming via public exchanges when the time comes becomes a lot easier too.
And yeah, that’s definitely coming…
We will be listing the coin on a couple decentralized exchanges and CoinMarketcap if our application is approved.
Current CoinMD wallet balances will be transferred over to their ERC-20 counterparts at a rate of 1:3 (1 current CoinMD shitcoin = 3 CoinMD ERC-20 shitcoins).
Because… why not. When you’re creating tokens out of thin air to give away for real money, does it really matter how much you dump?
In order to create artificial demand for CMD and U$D, new affiliates have to buy both from existing affiliates on the internal exchange to pay fees (split 50%).
Presumably this will be shifted to external exchanges once the exit-scam begins.
And to anyone not happy with the changes, McMurrain further advises that he doesn’t have time for you.
If you are unhappy – we have no time for negative – sky is falling energy – Please sit on the sideline and wait until we get it done.
So there you have it, crisis averted. And all it took was a bunch of promised money from top CoinMD affiliates and an ERC-20 token exit-scam roadmap.
Bear in mind that McMurrain is based out of the US and neither he nor CoinMD is registered with the SEC, making all of this is still totally illegal.
Sucks to be a Nigerian CoinMD investor right about now.