Farm Mining Review: Monthly returns bitcoin mining Ponzi scheme
Farm Mining provides no information on their website about who owns or runs the business.
Farm Mining’s website domain (“farm-mining.com”) was privately registered on June 2nd, 2019.
On its website Farm Mining provides a certificate for incorporation of BitcoinBase Limited in the UK.
Whether this incorporation actually has anything to do with Farm Mining is unclear.
In any event, UK incorporation is dirt cheap and for the most part unregulated. It is a favored jurisdiction for scammers looking to incorporate dodgy companies.
At the time of publication Alexa ranks Brazil (22%), Iran (12%) and India (11%) as the top three sources of traffic to Farm Mining’s website.
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.
Farm Mining’s Products
Farm Mining has no retailable products or services, with affiliates only able to market Farm Mining affiliate membership itself.
Farm Mining’s Compensation Plan
Farm Mining affiliates invest bitcoin on the promise of a guaranteed monthly return for 360 days:
- Plan A – invest 0.0005 BTC and receive 0.0006 BTC a month
- Plan B – invest 0.2 BTC and receive 0.2244 BTC a month
- Plan C – invest 0.5 BTC and receive 0.612 BTC a month
Farm Mining pays referral commissions 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.
Farm Mining caps payable unilevel levels at ten.
Residual commissions are paid out as a percentage of funds invested across these ten levels as follows:
- level 1 (personally recruited affiliates) – 8%
- levels 2 to 5 – 3%
- levels 6 to 10 – 1%
Joining Farm Mining
Farm Mining affiliate membership is tied to a 0.0005 to 0.5 BTC investment.
Farm Mining claims to generate “real incomes from 3% to 4% per day” via their “team in the Financial Market”.
This is then contradicted by the claim returns are generated via cryptocurrency “mining rigs”.
As soon as you’ve set up your account, you can start to mine your first coins using our Bitcoin cloud mining service!
Farm Mining provides no evidence of a financial market team existing or ownership of a cloud mining service.
As it stands the only verifiable source of revenue entering Farm Mining is new investment.
Using new investment to pay affiliates monthly returns makes Farm Mining a Ponzi scheme.
As with all MLM Ponzi schemes, once affiliate recruitment dies down so too will new investment.
This will starve Farm Mining of return revenue, eventually prompting a collapse.
The match behind Ponzi schemes guarantees that when they collapse, the majority of investors lose money.