GoSolar Mining Review: Monthly ROI crypto mining Ponzi
GoSolar Mining provides no information on its website about who owns or runs the company.
According to the company’s “about us” page on its website,
GoSolar Mining expanded its financing to individual clients since 2017.
GoSolar Mining’s website domain wasn’t privately registered until November 2018. The scheme itself appears to have only launched in late 2019.
GoSolar Mining provides a corporate address in Gibraltar on their website.
Further research reveals this address belongs to virtual office merchant Regus.
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.
GoSolar Mining’s Products
GoSolar Mining has no retailable products or services, with affiliates only able to market GoSolar Mining affiliate membership itself.
GoSolar Mining’s Compensation Plan
GoSolar Mining affiliates invest funds on the promise of advertised returns.
Benjamin Franklin Plans
- invest $200 to $999 and receive 15% a month for three months
- invest $1000 to $4999 and receive 20% a month for six months
- invest $5000 to $9999 and receive 21% a month for six months
- invest $10,000 to $14,999 and receive 22% a month for six months
- invest $15,000 to $19,999 and receive 23% a month for six months
- invest $20,000 to $24,999 and receive 24% a month for six months
- invest $25,000 or more and receive 25% a month for six months
Thomas Edison Plans
- invest $200 to $999 and receive 30% a month for three months
- invest $1000 to $4999 and receive 35% a month for three months
- invest $5000 to $9999 and receive 36% a month for three months
- invest $10,000 to $14,999 and receive 37% a month for three months
- invest $15,000 to $19,999 and receive 38% a month for three months
- invest $20,000 to $24,999 and receive 39% a month for three months
- invest $25,000 or more and receive 40% a month for three months
Nikola Tesla Plans
- invest $200 to $999 and receive 45% a month for three months
- invest $1000 to $4999 and receive 50% a month for six months
- invest $5000 to $9999 and receive 52% a month for six months
- invest $10,000 to $14,999 and receive 54% a month for six months
- invest $15,000 to $19,999 and receive 56% a month for six months
- invest $20,000 to $24,999 and receive 58% a month for six months
- invest $25,000 or more and receive 60% a month for six months
Referral Commissions
GoSolar 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.
GoSolar Mining caps payable unilevel team levels at four.
Referral commissions are paid out as a percentage of funds invested across these four levels as follows:
- Benjamin Franklin Plan investment pays 15% on level 1 (personally recruited affiliates) and 10% on level 2
- Thomas Edison Plan investment pays 15% on level 1, 10% on level 2 and 5% on level 3
- Nikola Tesla Plan investment pays 20% on level 1, 15% on level 2, 10% on level 3 and 5% on level 4
Joining GoSolar Mining
GoSolar Mining affiliate membership is free.
Participation in the attached income opportunity however requires a minimum $200 investment.
Conclusion
GoSolar Mining claims to generate external revenue via solar powered cryptocurrency mining.
By harvesting the power of the Sun and using it for our mining farms, we are committing to ecological preservation and promotion of renewable energy sources!
There is no evidence that GoSolar Mining is engaged in cryptocurrency mining. Nor is there any other verifiable source of external ROI revenue.
The only verifiable source of revenue entering GoSolar Mining is new investment.
Using new investment to pay existing affiliates a monthly return makes GoSolar Mining a Ponzi scheme.
As with all MLM Ponzi schemes, once affiliate recruitment dries up so too will new investment.
This will starve GoSolar Mining of ROI revenue, eventually prompting a collapse.
The math behind Ponzi schemes guarantees that when they collapse, the majority of investors lose money.
Update 6th February 2021 – Go Solar Mining was part of Kristijan Krstic’s $70 million dollar+ Ponzi empire.
Krstic was arrested in Serbia on behalf of US authorities in mid 2020.
I found this very odd announcement on one of those pointless “press release” sites (which no member of the press ever looks at):
(from: einpresswire.com/article/504671666/discontinuation-of-crypto-mining-packages-by-jan-2020)
How that fits in with the website selling them being up and running in March beats me. Of course, anyone can put anything on one of those sites.
The Mr. Kool Song quoted there is on LinkedIn, as GoSolar’s vice chairman: linkedin.com/in/kool-song-170b68192/
(looking very young for someone who got a degree over 30 years ago.)
Also, there is someone called Bergsweinn Logi, credited as the CEO and founder of the company:
linkedin.com/in/bergsweinn-logi-67873a192/
His name was also on the GoSolar Mining Twitter account, which sent out a total of two tweets in November and December 2018.
His page has a company history on it. Here, the plot thickens. The Swiss company he claims to have worked for before starting GoSolar in 2009, Axpo Holding AG, is certainly for real.
GoSolar itself could be entirely fictional, however. It claims:
However, elsewhere I find the information that the first solar power plant in Morocco was only inaugurated in 2016 (euractiv.com/section/development-policy/news/morocco-launches-solar-power-plant-dubbed-as-largest-in-the-world/). There is no mention of any company called GoSolar being involved in that.
I haven’t got the time to look into this any further right now, but it all smells very fishy.
Yeah I saw that press-release. Ignored it because clearly they are still selling crypto mining packages.
Looks like it might have previously collapsed, and they’ve rebooted it with sOlAr MiNiNg.
It’s also a possibility the press release was the result of infighting, with some disgruntled ex-associate putting it up hoping to create confusion.
This whole company is completely bogus, and I’ll only offer one more bit of evidence among many. Their website has a FAQ section: gosolarmining.com/faq. My eye was caught by this bit of weirdness:
What is a different company name and something about local Australian presence doing on the website of a company claiming to have recently moved its headquarters from Gibraltar to Hong Kong, and owning power plants in Morocco, the UAE, Mexico, China and India?
The fairly obvious answer is that it’s a crude copypasta job, stolen from the website of an Australian company by that name: greenpowerco.com.au/faqs/
You have to be pretty stupid in the first place to think that information about the small-scale installation of solar panels belongs on the website of a company pretending to operate large-scale solar power plants. But how immeasurably stupid must you be to then not even bother to replace the name of the company you stole it from with your own?
All the rest of the irrelevant stuff about solar panels at a quick glance comes from that same Australian site. The stuff about Bitcoin mining they no doubt stole somewhere as well, just like the Youtube clip which they pretend shows the building of their power plants (without their name ever being visible anywhere except in captions, of course).