Bitcoiners Hub Review: Bitcoin gifting & matrix pyramid recruitment
Bitcoiners Hub provide no information about who owns or runs the company on their website.
The Bitcoiners Hub website domain (“bitcoinershub.com”) was privately registered on August 11th, 2017.
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.Bitcoiners Hub Products
Bitcoiners Hub has no retailable products or services, with affiliates only able to market Bitcoiners Hub affiliate membership itself.
The Bitcoiners Hub Compensation Plan
Bitcoiners Hub affiliates gift bitcoin to each other via a 3×1 matrix cycler.
A 3×1 matrix is simple is nature, requiring only three positions below it to be filled.
Once all three positions are filled a “cycle” is generated and the position “cycles” into the next cycler tier.
Funds gifted across Bitcoiners Hub’s five-tier cycler are as follows:
- Stage 1 (positions cost 0.01 BTC) – receive 0.01 BTC and cycle into Stage 2
- Stage 2 – receive 0.01 BTC and cycle into Stage 3
- Stage 3 – receive 0.02 BTC and cycle into Stage 4
- Stage 4 – receive 0.04 BTC and cycle into Stage 5
- Stage 5 – receive 0.24 BTC
When an affiliate cycles out of Stage 1 they also receive a position in a separate 3×10 matrix.
A 3×10 matrix places a Bitcoiners Hub affiliate at the top of a matrix, with three positions directly under them:
These three position form the first level of the matrix. The second level of the matrix is generated by splitting these first three positions into another three positions each (9 positions).
Levels three to ten of the matrix are generated in the same manner, with each new level housing three times as many positions as the previous level.
Positions in the matrix are filled as directly and indirectly recruited affiliates cycle out of Stage 1 of the five-tier cycler.
Each position filled in the 3×10 matrix pays a 0.001 BTC commission.
Joining Bitcoiners Hub
Bitcoiners Hub affiliate membership is tied to a 0.01 BTC gifting payment.
Bitcoiners Hub combines gifting with pyramid recruitment.
Payments within the cycler are between affiliates, resulting in 0.32 BTC stolen from other affiliates for every 0.01 BTC gifted in.
The 3×10 matrix is straight pyramid recruitment, with commissions tied to indirect recruitment that feeds the cycler.
Those who join early receive the largest 3×10 matrix commissions, with the highest paid positions preloaded by the anonymous Bitcoiners Hub admin.
And if straight logic wasn’t enough for you, Bitcoiners Hub themselves admit to being a scam in their “no refunds” refund policy:
All purchases are NONREFUNDABLE.
We share the revenue from your purchase with all members, so we cannot afford to offer refunds.
As with all gifting/pyramid schemes, once affiliate recruitment dies down so too will commissions.
This will see Bitcoiners Hub collapse, resulting in the majority of affiliates losing money.