BCC Mining Network Review: $25,000 crypto mining securities fraud
BCC Mining Network provides no information on their website about who owns or runs the business.
The BCC Mining Network website domain (“bccminingnetwork.com”) was privately registered on June 9th, 2018.
Of note is the official BCC Mining Network’s official Facebook page, on which posts are made in Spanish.
Marketing material on BCC Mining Network’s Facebook page identifies Jose Mendoza as Founder and CEO of the company.
Possibly due to language-barriers, I was unable to put together an MLM history for Mendoza.
Read on for a full review of the BCC Mining Network MLM opportunity.
BCC Mining Network Products
BCC Mining Network has no retailable products or services, with affiliates only able to market BCC Mining Network affiliate membership itself.
The BCC Mining Network Compensation Plan
BCC Mining Network affiliates invest funds on the promise of a “revenue sharing” ROI.
- Start – invest $250 and receive 5% of the allocated revenue sharing amount
- Bronze – invest $500 and receive 10% of the allocated revenue sharing amount
- Silver – invest $1000 and receive 20% of the allocated revenue sharing amount
- Gold – invest $2500 and receive 50% of the allocated revenue sharing amount
- Platinum – invest $5000 and receive 100% of the allocated revenue sharing amount
- Diamond – invest $10,000 and receive 200% of the allocated revenue sharing amount
- Master Diamond – invest $20,000 and receive 400% of the allocated revenue sharing amount
- Master Mining – invest $25,000 and receive 500% of the allocated revenue sharing amount
Note that BCC Mining Network do not disclose how often revenue sharing ROI payments are made.
Typically however such payments are either made daily or weekly.
BCC Mining Network affiliates are paid to recruit new affiliates.
Recruitment commissions are paid out as a percentage of funds invested by newly recruited affiliates, based on how much they themselves invested:
- invest at the Start tier and receive a 10% recruitment commission rate
- invest at the Bronze tier and receive an 11% recruitment commission rate
- invest at the Silver tier and receive a 12% recruitment commission rate
- invest at the Gold tier and receive a 13% recruitment commission rate
- invest at the Platinum and higher tiers and receive a 15% recruitment commission rate
BCC Mining Network pays residual commissions via a binary compensation structure.
A binary compensation structure places an affiliate at the top of a binary team, split into two sides (left and right):
The first level of the binary team houses two positions. The second level of the binary team is generated by splitting these first two positions into another two positions each (4 positions).
Subsequent levels of the binary team are generated as required, with each new level housing twice as many positions as the previous level.
Positions in the binary team are filled via direct and indirect recruitment of affiliates. Note there is no limit to how deep a binary team can grow.
Residual commissions are paid out as a percentage of invested funds matched on both sides of the binary team:
- invest at the Start tier and receive a 5% residual commission rate
- invest at the Bronze tier and receive an 8% residual commission rate
- invest a the Silver and higher tiers and receive a 10% residual commission rate
Joining BCC Mining Network
BCC Mining Network affiliate membership is tied to a $250 to $25,000 investment:
- Start – $250
- Bronze – $500
- Silver – $1000
- Gold – $2500
- Platinum – $5000
- Diamond – $10,000
- Master Diamond – $20,000
- Master Mining – $25,000
The more an affiliate invests the higher their income potential via the BCC Mining Network compensation plan.
Note that while BCC Mining Network appears to solicit investment in USD, ROI payments and commissions are paid out in bitcoin and bitcoin cash only.
Also note that BCC Mining Network charge a 5% fee on all withdrawal requests.
BCC Mining Network claims to generate external ROI revenue through cryptocurrency trading, “mining farms in USA and other cities of the world” and forex trading.
No evidence of BCC Mining Network using external ROI revenue to pay affiliates is provided.
Being a securities offering, in order to operate legally BCC Mining Network needs to register itself with securities regulators and provide investment disclosures.
Perusal of Jose Mendoza’s Facebook page reveals he is actively promoting BCC Mining Network across the US.
Securities in the US are regulated by the SEC. Yet at the time of publication neither BCC Mining Network or Jose Mendoza are registered with the SEC.
This means that BCC Mining Network is being promoted and operating illegally in the US.
Recruitment commissions and no retail offering adds an additional pyramid layer of fraud to the scheme.
At best, BCC Mining Network is generating external ROI revenue but still operating as an illegal unregistered securities pyramid scheme.
At best BCC Mining Network is a full-blown Ponzi scheme.
Typically when we see MLM cryptocurrencies offer unregistered securities it is because, either in part or in full, they are recycling newly invested funds to pay off existing investors.
This results in the majority of investors losing money when the scheme inevitably collapses.
Based on the current regulatory status of the company, there is an extremely high probability BCC Mining Network falls into this category.