Earn Fast BTC Review: Bitcoin ROI, cycler and pyramid recruitment
Earn Fast BTC provide no information on their website regarding who owns or runs the company.
The Earn Fast BTC website domain (“earnfastbtc.com”) was privately registered on June 24th, 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.
Earn Fast BTC Products
Earn Fast BTC has no retailable products or services, with affiliates only able to market Earn Fast BTC affiliate membership itself.
Bundled with Earn Fast BTC affiliate membership are ad credits, which can be used to display advertising on the Earn Fast BTC website.
The Earn Fast BTC Compensation Plan
Earn Fast BTC affiliates purchase $15 “earn positions”.
Each earn position creates a ROI and matrix cycler position.
ROI
Each $15 Earn Fast BTC earn position generates an eventual $15 ROI.
Matrix Cycler
Earn Fast BTC use 2×1 matrices in their five-tier cycler.
A 2×1 matrix is simple in nature, requiring only two positions be filled before a “cycle” commission is generated.
Cycle commissions across all five tiers of Earn Fast BTC’s cycler are as follows:
- matrix 1 – $1 commission and cycles into matrix 2
- matrix 2 – $2 commission and cycles into matrix 3
- matrix 3 – $5 commission, generates a new matrix 1 position and cycles into matrix 4
- matrix 4 – $7 commission, generates a new matrix 1 position and cycles into matrix 5
- matrix 5 – $25 commission and generates a new matrix 1 position
Referral Commissions
Earn Fast BTC pay referral commissions on $15 affiliate position purchases down three levels of recruitment (unilevel):
- level 1 (personally recruited affiliates) – 5%
- level 2 – 3%
- level 3 – 2%
Joining Earn Fast BTC
Earn Fast BTC affiliate membership is tied to the purchase of at least one $15 “earn position”.
Note that all payments within Earn Fast BTC are made in bitcoin.
Conclusion
Earn Fast BTC presents itself as a two-tier money game using bitcoin.
The ROI component of the compensation plan is Ponzi fraud.
New affiliates purchase earn positions and $10 of each $15 purchase is used to pay a ROI on existing position purchases.
The matrix cycler operates in the same manner, shuffling funds from new affiliates who enter the bottom of the company-wide matrix to pay affiliates who’ve already bought positions.
The referral commissions are pyramid recruitment, paid out on the direct and indirect recruitment of new affiliates and their position purchases.
As with all such money games, once affiliate recruitment dies off so too will new funds entering the system.
This will case all three components of the Earn Fast BTC compensation plan to fail (ROI, cycler and referrals), resulting in the majority of affiliates losing money.
Earn Fast BTC’s use of bitcoin should also be of concern, as it makes victim fund recovery all but impossible.
The whole bitcoin and ethereum model is already exceedingly phenomenal, and dangerous.
At this juncture, I don’t think there are many victims left to be fleeced after IGOFX and JJPTR. Maybe another 2 years or so.
I have to disagree. I think I understand “the whole bitcoin and ethereum model” and have no doubt that wiuthin 10 years it will be how we are handling ‘money’.
It’s all the scammers that Oz and his mates are revealing that lead you to that conclusion.
There’s nothing wrong with the cryptocurrency model per se
The fact it’s the currency of choice for criminals and fraudsters is a reflection on them, rather than the currency itself.
The majority of what is being discussed here is criminal fraud “disguised” as cryptocurrency trading and could just as easily be the US dollar or the Iraqi dinar being used.
IM(very)HO, if anything is going to interfere with a universal acceptance of cryptocurrency, it will be this hijacking by the criminal underworld in the early stages of its’ development.
I just can’t see the worlds’ governments standing by watching their revenue bases eroded and criminal misuse of cryptocurrency being allowed to flourish.