HashRevShare Review: Cryptocurrency micro-Ponzi
There is no information on the HashRevShare website indicating who owns or runs the business.
The HashRevShare website domain (“hashrevshare.com”) was registered on the 14th of April 2016, with Ruby Hoffman listed as the owner. A residential address in South Yorkshire, England is also provided.
The HashRevShare Facebook group lists two admins, Hoffman and John Tadiosa.
Hoffman’s linked Facebook profile is pretty suspicious, with Hoffman’s location listed as Barcelona, Spain. Content wise Hoffman’s profile contains a profile photo update in August 2010, and then nothing until a few days ago – what appears to be a launch announcement for HashRevShare.
Due to the generic nature of “Ruby Hoffman”, nothing definitive comes up for an MLM history search – and of course none is provided by HasRevShare.
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.
The HashRevShare Product Line
HashRevShare has no retailable products or services, with affiliates only able to market HashRevShare affiliate membership itself.
The HashRevShare Compensation Plan
The HashRevShare compensation plan sees affiliates invest in one of the following three “plans”:
- Plan 1 – invest $1 and receive a 110% ROI after 10 days
- Plan 2 – invest $5 and receive a 115% ROI after 6 days
- Plan 3 – invest $10 and receive a 120% ROI after 3 days
Referral commissions are paid out 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 go on to 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.
HashRevShare cap payable unilevel levels at five, with commissions paid out as a percentage of funds invested by a unilevel team:
- level 1 (personally recruited affiliates) – 5%
- level 2 – 3%
- level 3 – 2%
- levels 4 and 5 – 1%
Affiliate membership with HashRevShare is free, however affiliates must invest at least $1 in order to participate in the income opportunity.
Professing to be “backed by cryptocurrency trading”, the only tangible link HashRevShare has with cryptocurrency is that it accepts bitcoin investment and has capitalized on the “hash” cryptocurrency buzzword. Otherwise it’s just another cookie-cutter adcredit Ponzi scheme.
Despite the only recorded source of revenue being new affiliate investment, which is used to pay off existing investors, HashRevShare insist they are ‘not an investment / HYIP / MLM / Matrix / Cycler / Currency Exchange/ securities site‘.
Explaining why HashRevShare is legal, the usual “we have products” pseudo-compliance is trotted out:
Is Hashrevshare legal?
YES it is legal. In order for any program to be legal, it is required to supply a service and/or product to you, the member!
Ultimately it is the use of newly invested funds to pay off existing investors that makes HasRevShare a Ponzi scheme. What they bundle to those investments is irrelevant.
The HashRevShare website boasts of “maturity” rates under its advertised ROIs, destroying any notion that affiliates are just purchasing advertising.
As with all such schemes, once newly invested funds dry out HashRevShare will find itself unable to meet it’s ROI obligations.
And at 120% after three days, that’s probably going to be sooner rather than later. Lifespan wise I’d predict some initial payouts to encourage new and reinvestment. The second or third ROI deadlines will probably trigger the collapse.
When it does, Ruby Hoffman (or whoever purchased the Facebook profile) does a runner and you lose your money.