Mind Capital Review: 1.8% daily ROI bitcoin Ponzi
Mind Capital operates in the cryptocurrency MLM niche.
The company fails to provide contact information on its website. In official Mind Capital marketing material though, the company states it was “opening offices in Madrid” in December 2019.
Heading up Mind Capital is Gonzalo Garcia-Pelayo (right).
Mind Capital’s marketing material brands Garcia-Pelayo as being a gambling expert.
Garcia-Pelayo’s claim to fame is “beating roulette”, through study of roulette wheel flaws.
As far as I can tell, Garcia-Pelayo doesn’t have an MLM or cryptocurrency history. Why he’s heading up an MLM cryptocurrency company is unclear – but he’s obviously not working alone.
Read on for a full review of Mind Capital’s MLM opportunity.
Mind Capital’s Products
Mind Capital has no retailable products or services, with affiliates only able to market Mind Capital affiliate membership itself.
Mind Capital’s Compensation Plan
Mind Capital affiliates invest $100 to $100,000 on the promise of a 0.5% to 1.5% daily ROI.
Commissions are paid when they recruit others who do the same.
Residual Commissions
Mind Capital pays residual 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.
Mind Capital caps payable unilevel team levels at ten.
Commissions are paid out as a percentage of returns paid across the unilevel team as follows:
- level 1 (personally recruited affiliates) – 8%
- level 2 – 4%
- levels 3 and 4 (must generate $5000 in downline investment volume) – 3%
- levels 5 and 6 (must generate $15,000 in downline investment volume) – 2%
- levels 7 and 8 (must generate $50,000 in downline investment volume) – 2%
- levels 9 and 10 (must generate $100,000 in downline investment volume) – 2%
Joining Mining Capital
Mining Capital affiliate membership is tied to a minimum $100 investment.
Although credit cards are permitted, funding of Mining Capital investment positions takes place in bitcoin.
As I understand it credit card payments are converted to bitcoin and then must be manually transferred by a new affiliate.
Mind Capital also pays withdrawal requests in bitcoin.
Conclusion
Mind Capital claims it generates external revenue through “AI algorithms developed to find buying/selling opportunities”. Or in other words, the typical “trading bots” MLM crypto ruse.
I say ruse because there’s no evidence of Mining Capital using external revenue to actually pay affiliates.
There is a “see the system in action” link on Mining Capital’s website.
From your control panel at any time you can see in real-time how our Artificial Intelligence algorithms work finding investment opportunities and the profitability obtained in each operation performed.
Clicking the button however just redirect to the affiliate login page.
In any event, it doesn’t take much to come up with some backoffice trading theater. Whatever is or isn’t represented by Mind Capital in the backoffice is not proof of external revenue actually being used to pay affiliates.
Furthermore, Mining Capital’s business model fails the Ponzi logic test.
The company claims on multiple occasions to have been developing its trading bots for years.
In one example, Mind Capital claims its bot is the result of “years of research and development (R&D) and the latest technology for the benefit of the investor”.
In another example (FAQ), Mind Capital states;
We have been researching and developing our platform for a long tiem and although it is true that so far our results have been positive…
This raises the question that, if Mind Capital already has a successful trading bot capable of generating up to 1.5% a day, what do they need your money for?
If you had a bot you’d been testing for years and now it was successfully paying off, why would you whore it out over the internet for just $100?
Let it run and pocket 100% of the proceeds.
It makes absolutely no sense to share profit and only take 35% of generated profit.
Every day the profits obtained the previous day are distributed among the participants, of which mind.capital retains 35% in management and maintenance expenses.
Unless there is no bot. Or at the very least Mind Capital are overstating generated returns.
Which would mean newly invested funds are being paid out as returns – otherwise known as a Ponzi scheme.
In any event, despite clearly offering a passive investment opportunity, Mind Capital makes no representation it has registered with securities regulators.
In Spain, securities are regulated by the National Securities Market Commission (CNMV). Pretty much every country with an active financial market has a securities regulatory equivalent.
In addition to securities fraud, Mind Capital is also a pyramid scheme.
Nothing is marketed or sold to retail customers, meaning 100% of commissions are tied to recruitment.
As with all MLM Ponzi schemes, once affiliate recruitment dies down so too will new investment.
This will starve Mind Capital of ROI revenue, eventually prompting a collapse.
The math behind Ponzi schemes guarantees that when they collapse, the majority of participants lose money.
Update January 15th 2020 – The CNMV has confirmed Mind Capital is committing securities fraud in Spain.
Update 21st December 2020 – Rather than address securities fraud, Mind Capital is laying the groundwork for a shit token exit-scam.
Update 14th August 2021 – Mind Capital’s exit-scam is complete, prompting the company to pull its website offline.
Update 14th December 2023 – Turns out Mind Capital was run by David Saffron and Vincent Mazzotta.
Saffron and Mazzotta have been indicted. Saffron was arrested last year and Mazzotta sometime over the past week.
AFAIK, the guy’s also a retired film guy. He did a movie in 2015 and 2016, and shows up in IMDB.
I think it’s more likely someone is using him as a front or even without his permission. But who’s to say for sure?
Gonzalo Garcia-Pelayo is very clearly knowingly involved in the scam as he be can seen in many promotional videos promoting the scam. (Although senility, stupidity and/or greed may have contributed to that he may not fully realize or care what he has gotten inloved in…)
His “beating the roulette” story makes him an ideal public figurehead / PR-puppet for these kinds of scams, and I think he has been hired specifically for that purpose by the crooks who actually run the scam.
You can see him and some other names/faces in this video from October MindCapital event:
youtube.com/watch?v=cIBbdiXLJ5A
Not sure what their role — promoters or “corporate” people — is supposed to be but these names are given:
– Manuel Arniz
– Christina Kelly Lopez Gonzalez / Cris Kelly Lopez
– Castor Rodriguez
Might be fake personalities, since I can’t find anything by searching their names — except Kelly who appears to be a model-for-hire:
modelmanagement.com/model/cris-kelly-lopez/
They have rented some office space from Talent Garden Madrid(madrid.talentgarden.org/en/).
youtube.com/watch?v=vsy_K4a2N5w
It would be interesting to know if the lady gives impression that the entire premises she is showcasing is theirs, and not just the small and empty room which has their banner stand.
Although she shows clearly the Talent Garden logo, many MLM idiots probably are left with the impression that the whole building is MindCapital HQ if she doesn’t spesifically say otherwise.
If you dig into “mind.capital” subdomains(securitytrails.com/list/apex_domain/mind.capital), especially the dev subdomain, you can see possible references to IT company AdalidInternet:
adalidinternet.com/
At least a seasoned MLM scammer Simon Stepsys alredy promotes this scheme.
I hope this isn’t too off-topic, since it’s hard not to see the similarities between people who think they can beat the odds in games of chance, and people who cannot see that simple arithmetic dooms every pyramid scheme to collapse, and that magic computer programs (they call them “AI” or “bots” now) don’t change the underlying simple arithmetic.
It also shows how the same people are drawn to a succession of shady operations, which change as technology and buzzwords change.
In this case, the frontman of the scheme, Gonzalo Garcia-Pelayo, claims he wrote a computer program, back in 1990, that allowed him to win at roulette.
There is a History Channel documentary about this feat of his, Breaking Vegas: The Roulette Assault on Youtube (www.youtube.com/watch?v=PMhI_b6bnVA).
First, they present the fact that roulette wheels aren’t perfect random number generators, but all have a slight bias towards some numbers, as if it was some great discovery this guy made, and completely unknown to the casino owners.
Even though they briefly show an expert pointing out that of course everyone knows about this, and that “bias players” have always been around.
It’s of course also painfully obvious that you can increase your odds of winning on a single number bet very slightly if you know which numbers come up more often than chance on a particular wheel.
But then, it gets really silly when it is explained how he brought the power of computers to bear on this simple observation.
He, “who had always been good at maths”, wrote his own computer program – in QBasic (wow!). He says: “I create a wheel in the computer to simulate. I took precaution that it was absolutely random”. (A preposterous claim to begin with. That is, by definition, impossible to do in software, and CPUs didn’t include hardware for real random number generation until quite recently.)
Now it beats me what you’d use such a “simulation” (IOW, simply generating a random number between 0 and 36) for, when the only way you can tell if and how a particular wheel is biased is by logging the outcomes of lots of spins (which he had his children do for him), and compare them to random chance.
It gets really hilarious when they show a bit of the actual code.
The “simulation” of a spin is simply this: “X = INT (RND * 39)” (I don’t know why 39, those aren’t the right odds since there are numbers from 0 to 36 on a wheel, and he does something special when it’s over 36).
Yes, that’s right, he just uses the built-in pseudo-random generator (one which, a quick search shows, in QBasic was notoriously non-random).
And what can only be the “precaution” to make sure it is “absolutely random” is this line: “RANDOMIZE TIMER”.
That simply seeds the bad pseudo-random generator with the number of seconds elapsed since midnight, in the vain hope that that will make it less bad, and was standard recommended practice, as shown by any elementary introduction to QBasic.
Yet they keep going on about how he had devised a “secret system”, based on “computer analysis”, and that “the computer” told him what numbers to play.
Despite it being made clear the rest of the time that all he was doing was betting on numbers that came up more often than random chance on that particular wheel.
It’s also telling that not once does this documentary state how much money he bet, and how much he ended up with. Only a few absolute amounts are mentioned here and there, making his ROI impossible to determine.
In fact, it’s perfectly obvious that there cannot have been any money made other than through normal luck.
The one point where I think he probably comes close to telling the truth is when he is uncharacteristically specific, and says he only increased the odds from the normal 2.7% (1 / 37) to 6%, which he brags is more than doubling the winning chances.
That’s of course correct (although the 6% may be made up), but a 94% rate of losing cannot possibly produce profits, it can only slightly reduce losses compared to the normal 97.3% rate.
But Garcia-Pelayo claims it works the other way round: “It was easy to lose one day. Easy to lose two days. But almost impossible to lose at the end of the week.”
He seems to think (or pretends he thinks) that those 6% odds somehow add up to go over 100% if you bet often enough, wiping out all earlier losses and putting you into certain profit.
The commentary voice says:
They even compare it to improving your chance of winning the lottery by buying more tickets. And anyone who doesn’t see the problem with that as a money-making system is a perfect fit for the wonderful world of MLM Ponzis.
The inescapable conclusion is that the only way he can have made money (except perhaps by some dumb luck, like all roulette winners, and then stopping in time, unlike most gamblers) was by first writing his book about how he supposedly beat the odds on roulette, then selling the story for things like this documentary, and monetizing the reputation he managed to construct for himself in who knows what other ways.
I am certain nobody has ever asked him to provide any proof for the claim that he made money with a roulette betting system.
And that someone like him is now peddling an MLM Ponzi scam, and a supposedly bitcoin-related one at that (oh, the magic of computers!), doesn’t surprise me in the least.
Yeah I’d seen him in the marketing vids. Comes across as a puppet though.
Since they claim to be doing arbitrage trading, this means that they must be licensed with the financial regulatory agencies in every country where they do business. It will be interesting to see what countries they don’t offer trading accounts.
The claim is on the big reveal on Jan 11, they are to show all the registrations for all to see. Wanna bet that all they show is a business registration and no regulatory filings?
Simon Stepsys is so excited about this great opportunity he is about to wet himself. But then he gets this excited about every Ponzi he pimps. It’s why he wears depends since he cannot contain himself.
Simon Stepsys has just started to promote this hard….. there is all you need to know right there.
If hes involved you can bet your life savings that its a Ponzi end off…. Steer clear of this rubbish people!
The registrations that matter are publicly searchable. Either Mind Capital is registered or it isn’t (it isn’t).
In a webinar with a promoter, Kelly Lopez is introduced as a “communication director” of MindCapital, so she is clearly representing the corporate side of scam (although no name of for the corporate entity is given).
youtube.com/watch?v=fx8LidnAXjA
I haven’t watched the whole video, but around 13:25 timeark she says that the president of the company is Oscar Garcia-Pelayo, Gonzalo’s son.
She implies tha Oscar is the mastermind behind the project. If you search by his name, he looks a lot like “Castor Rodriguez” from video I referred to in message #2 — don’t you think?
Shady scammers are shady. 😉
@PassingBy: If the 2.7% / 6% malarkey meant that he somehow managed to increase the chance of winning on a single number from 2.7% to 6%, that is enough to break the casino by a country mile.
It doesn’t matter that you lose 94% of the time, when you win you multiply your bet by 36, so on average you will come out ahead.
The expected result is that you will roughly double your money on each spin. That will make you rich very quickly as long as you bet a small enough proportion of your funds to minimise the risk of exhausting them before the 6% chance comes off. You only need a small positive edge to break a casino.
Of course he did no such thing. If you managed to do that the casino would throw you out long before you made a fortune. I agree that the rest of what you describe proves it’s transparent nonsense.
I liked the image of someone lugging a 1990-era computer into a casino so they can break the bank. “Oh, that’s just my pacemaker.”
Casinos encourage silly stories about people beating the system because it gets punters through the doors.
Generating numbers from 1-39 accounts for 1-36, 0, 00, and, um, the possibility of the ball falling off the wheel?
Also, if you have a magic computer that can predict the winning number with 6% accuracy, you don’t need to use it to bet on single numbers.
Just bet on the colour of the highest probability number. Or the street, or the corner, or whatever. The increased probability of the result will still give you the exact same edge over the house.
And you are much less likely to exhaust your funds.
Plus you can vary your bets to keep it going a bit longer before the casino chucks you out.
So on their website they have 99% of the text in English, but their legal notice is in Spanish.
Not one word about where they are registered and licensed to do business, after Simon assured everyone their registrations would be clearly displayed.
Sure glad they have nothing to hide, right Simon?
I don’t think that registration they keep wittering on about will be turning up anytime soon. Quite the opposite.
cnmv.es/portal/ResultadoBusqueda.aspx?nif=13509&tipo=1
Thanks for the heads up David!
The big recruiters like Simon Stepsys will make a lot of money from this, then move on to the next thing as soon as this collapses.
Wake up everyone. Most people will start small, with say $200, by the time they’ve compounded it to a decent level where they can withdraw, the thing will stop paying out. There will be excuse after excuse for why they can’t pay out.
Most so called ‘leaders’ are just salesman who will tell you everything you want to hear so they don’t miss out on their commissions. They will have a bullshit explanation when you ask appropriate questions like company registration etc….
The company will pay your sponsors commissions from the money you put in.
Once it collapses who do you turn to, your sponsor or leader. They can’t help you and the company has run off with a lot of money. Your dream of financial freedom is crushed yet again.
You see if Simon picks up the phone to you when all this collapses – will he hell. He doesn’t give a toss about you.
Simon’s great up to the point you’ve paid in. He doesn’t care after that. It’s just a numbers game to him.
HE CARES ONLY FOR HIS TEAM COMMISSIONS WHILE HE CAN GET THEM.
WAKE UP. STAY AWAY FROM THESE PONZI SCHEMES AND PEOPLE LIKE SIMON STEPSYS.
In relation to my messages #2 and #8, I now think that “Castor Rodriguez” is not Ocscar, but Pablo Garcia-Pelayo.
Look at the picture below the title “Fruto de las parejas de Gonzalo nacen sus cinco hijos.” in: gonzalogarciapelayo.com/gonzalo/familia/
Oscar and Pablo look very much alike, and I mistook them as the same person. But you can see that they are two separate persons both involded in the scam: Oscar is at 0:22 timemark and Pablo at 0:32 of this video from recent mind.capital event:
youtube.com/watch?v=uy9NyCKjPQI
It appears that Garcia-Pelayo have formed a true Ponzi crime family. (Perhaps Ignatov crime family served them as an inspiration?) For some reason they had to lie about the identity of Pablo. Is he a mafia guy or something like that?
And here we find Ruben Arcas, this time without his brother Sasà D’arco who, with Infinitum Flame, bought a new expensive car and now has a restaurant in Alcalà de Guadaira.
any news about your digging guys??? let me know whats new… regarding document, license, securities, etc.
What digging? Mind Capital wasn’t registered with anyone when this review was published. Nothing has changed.
does right now mind capital registered in Spain?
app.einforma.com/servlet/app/prod/ETIQUETA_EMPRESA/nif/3wl61Nb-M89WLgbm1CBB4Q?portal=ENTP
Nope, that’s a meaningless basic incorporation.
You tell me, does that sound like Mind Capital’s passive investment opportunity?
Securities in Spain are regulated by the CNMV. Mind Capital is not registered with the CNMV and operates illegally.
i don’t understand.. so, that is not a registry?
It’s a registry of incorporation, which with respect to securities regulation is meaningless.
Basic incorporation is not the same as registering with a securities regulator, CNMV in this case.
But trading with Krypto is not regulated by securities?
So it must not registered by CNMV?
Mind Capital is offering a passive investment opportunity. That’s a security and regulated by the CNMV.
Doesn’t matter if the investment is made in crypto, fiat or any other vehicle.
In spite of negative reviews, Mindcapital has been paying its investors on time.
Mind Capital is a Ponzi scheme. It’ll pay out as long as new dumbasses invest.
Found the following on the Mind Capital website today:
Might this be the beginning of the end of Mind Capital?
Coming up next: HACKERS!
Keep an eye on it. If the withdrawal delays persist into next week there might be an issue.
Mind Capital is exceptional, led by a person of the caliber of Gonzalo Garcia Pelayo, a legend and a mathematical genius!
We have been to Madrid to meet the whole company team, including the CEO (Gonzalo Garcia Pelayo) and we know the company very well. The company has registration licenses both in Madrid (CIF B88536065) and in Estonia (N.14933474), both companies are registered in the name of Gonzalo Garcia Pelayo.
The profits that are generated daily are around 0.8% – 1.2% gross and are distributed as follows: 65% for investors, 30% in commissions for network marketing and 5% for the company. Such high profits are not possibile in the traditional financial system but it is possible to generate these profits if you operate with arbitrage trading in crypto.
(Ozedit: recruitment spam removed)
Both of which are meaningless because neither is a financial regulatory registration.
Which you are unable to prove because Mind Capital doesn’t provide legally required audited financial reports.
There’s only one reason passive investment MLM companies opt to operate illegally. They aren’t doing what they claim to be.
A mathematical genius who thinks that one can predict the behavior of a roulette wheel by calling a pseudo-random number generator in a BASIC interpreter tens of thousands of times – and a notoriously crappy generator at that.
Someone who displays such a profound ignorance of what a pseudo-random number generator does, is a mathematical ignoramus.
An average interest of 1% a day is 3,678% yearly. Or to put it another way, at the end of just one year you’ll have almost 38 times the amount of money you started with. Such profits are not possible, period.
Maybe, the next time you meet with your mathematical genius, you can ask him why, if he can multiply his money by 37.78 every year, he isn’t already the world’s richest man several times over.
If he started with just 100,000 euro, that would have taken him less than 4 years. And when he plans to stop, because very soon after that he will own the world’s entire money supply.
The belief that one can generate huge profits with arbitrage trading shows you don’t know what you’re talking about. Arbitrage profit margins are, by their very nature, tiny, it doesn’t matter what it is you’re buying and selling.
The only reason such trading is done at all is because, if everything works as it should, it’s risk-free. That’s because you’re not speculating on a future change in price, but on the prices as they are at the moment you make the trade, and the, always minuscule, differences between those prices on different exchanges at the exact same moment.
It’s of course also completely unaffected by general market trends.
With such tiny profit margins, the only way to make any real money through arbitrage is by moving around huge amounts of money, otherwise the transaction fees and overhead eat up the profits you make. Which is why it’s something that’s only worthwhile for large financial institutions with loads of cash on hand.
It’s also a form of trading that doesn’t require any intelligence, human or artificial, at all, let alone a “mathematical genius” to figure it out. It can all be done fully automatically, with very simple programs. Here’s the basic arbitrage algorithm in pseudocode:
IF PriceOnExhange(A) = PriceOnExchange(B) THENDoNothing
ELSE IF PriceOnExchange(A) < PriceOnExchange(B) THEN
BuyOn(A); SellOn(B)
ELSE
BuyOn(B); SellOn(A).
I'm sure your mathematical genius can turn that into one of those famed QBasic programs of his.
Yet there they are, all those MLM investor wannabes with their tiny amounts of money, who think "arbitrage" is some magical thing through which they're going to achieve fantasmagorical profits – and of course even more so when it's accompanied by the equally magical word "crypto".
My personal theory is that "arbitrage" became such a standard buzzword in forex and crypto based scams because people who know nothing about the subject and look it up, usually find that phrase "risk-free" in the very first sentence or paragraph. They then don't bother to read any further.
The arrogance of Simon Stepsys. I’m guessing he’s one of the top earners in mind capital.
youtube.com/watch?v=A5RWOfwEDLg
mirror.co.uk/news/uk-news/internet-millionaire-says-its-simple-6118617
I have been checking BehindMLM for potential scams over the last few months but apparently 99% of the platforms are Ponzi according to the authors.
I have been investing in Mind Capital and Kuailian for six months now and I’m making 8-12%/month with no referrals. Please explain how is that possible?
Dear PassingBy, get your math right: “1% a day is 3,678% yearly”. Er…
1. numbers in your backoffice isn’t you making anything.
2. Ponzi schemes pay out as long as there’s new recruits investing. Herp derp.
3. If you’re finding the companies you’re looking up on BehindMLM are Ponzi schemes, that’s a “you” problem.
The only person responsible for you being attracted to Ponzi scams is you.
6 months @ 12% per month = 72% of your original investment
IOW, you’re getting your own money back – it’s not “profit”.
You’re not ” in profit” until you have your original deposit IN YOUR POCKET not in your back office.
Dear TomPonzi, please learn what compound interest is.
If someone is capable of consistently increasing a sum of money by 1% during just one trading day (which is what someone I was responding to claimed is easy to do), then after 365 such days they’ll have increased the original sum by 3,678%.
(Of course, most exchanges close on weekends and holidays, so they don’t have 365 trading days a year, but there is a lot of trading which doesn’t involve exchanges, and we have no idea just what kind of trading Mind Capital supposedly does. So for simplicity’s sake, I’m using 365. It doesn’t really matter, since we’re talking about fantasy trading resulting in fantasy profits anyway.)
Similarly, if your claimed 8-10% a month with Kuailian and Mind Capital were true, after one year you should have made 214%, IOW more than tripled your money (averaging to 10% a month).
If you’re not getting those results, perhaps you should ask the people you’ve given your money to why there is no compounding happening in these mysterious and miraculous investment methods of theirs.
Dear PassingBy,
compounding is manual in Kuailian and automatic in Mind Capital (you can enable/disable it whenever you want).
You and Oz keep are using the same methodology for all platforms: did you have a chance to look at Pool Analisys or Pool Monitoring for Kuailian, for instance?
You keep saying that “Ponzi schemes pay out as long as there’s new recruits investing”, even a young kid knows that, please provide deeper insights and show actual knowledge of the platforms you are reviewing.
I have withdrawn my original deposit and only working with my “profits” now. I have no referrals. You will still say Ponzi. Curious to know what you guys invest in, probably gold.
And your defense TomPonzi of both of these Ponzi’s are that you are making money so you don’t care they are Ponzi’s. You keep using the strawman argument to defend your Ponzi’s de Jour.
Typical logic of all Ponzi pimps and you haven’t earned any profits, you have stolen money from others. Real great morals there TomPonzi.
But hey as long as I get mine, screw everyone else that lost money because they bought the hype these are real, legitimate money-making programs.
Here’s a fact for you. Mind Capital still isn’t registered anywhere to offer their security offering. I’ll type real slow so you get it….this makes them operating I L L E G A L L Y.
I’d gladly look at legally required audited financial reports filed with regulators discussing “pool analysis” and “pool monitoring”.
These don’t exist however, so why bother. As far as due-diligence goes once you establish securities fraud, which lends itself to Ponzi fraud, there’s no need to continue.
Yep. Because whether you personally recruited the people you’re stealing money from or not is irrelevant to Mind Capital being a Ponzi scheme.
I’m not defending anything, I’m just trying to have a decent conversation with people who are so in love with the sound of the Ponzi word.
Ponzi is ILLEGAL so why are these companies still operating? Kuailian has been operating since September 2018. But why bother, as Mr Oz says.
@TomPonzi – Drugs are ILLEGAL, so why are people still buying/ selling them?
Same argument.
Because new investors are still getting recruited. That’s how Ponzi schemes work herp derp.
Still waiting for people to flock to this forum and say they’ve been scammed. Where are all those poor souls? Crying their hearts out in their bedroom? Wait, maybe they are making money…
Pushing the “where are the victims?” strawman to distract from Mind Capital committing securities fraud and running a Ponzi scheme? That’s cute.
Math is math, Mind Capital can’t pay out more than is invested guaranteeing the majority of participants will lose money.
By the time victims of a Ponzi scheme come forward it’s too late.
I heard the word morals around here and I chuckled a little. I cant believe you guys are missing out on making money because of your morals.
Is there anyway i can send pictures? or proof of withdrawals from mind capital? lol you guys are a joke!!!! but with morals.
^^ Always depressing when people like this crawl out from under their rocks.
Whether you as an individual are stealing money through Mind Capital is neither here nor there. Not sure why you’d think anyone cares.
(Ozedit: derails removed) Technology has grown and it has now become apart of the financial markets. Thanks to cryptocurrency, we now have a new player in town and due to certain laws it doesn’t fall under many jurisdictions as “money”.
If potatoe chips was used instead of money these guys would still call it a ponzi scheme.
Grow up and do better at learning the programs you review. You guys are starting to get too outdated to keep up with these new systems I see.
Most of these legit earning sites are using AIs and smart contracts to generate ROI for their members.
So? Passive cryptocurrency investment schemes are still regulated as securities.
There isn’t a country on the planet that exempts cryptocurrency from securities regulation.
do not provide legally required audited financial reports and so operate illegally. Whatever you claim they are doing is not based on verifiable evidence.
Seems you still have some “growing up” to do. Best leave actual due-diligence to the big boys.
That’s because if you solicit potato chips from investors on a promise that you’ll pay them more potato chips back, and the only way you can do that is to pay earlier investors the potato chips subscribed by the investors that came after them, it is indeed a Ponzi scheme, genius.
So in other words, you don’t know where the profit is coming from and you don’t care.
Tsk, tsk. Why don’t you give your money to your local drug pusher instead and call it an investment? At least you can look him in the face.
are you serious? not one single country knows how the hell to regulate cryptos. not one single country has regulation over cryptos yet.
they have made announcements but they will not make a company legitimate if its only based on cryptos.
That’s nice. We’re talking about regulation of securities.
No country on the planet exempts passive cryptocurrency investment opportunities from securities regulation.
You’re perhaps aware of the “Howey test” NO LINK://consumer.findlaw.com/securities-law/what-is-the-howey-test.html
Citrus groves, cryptocurrency or fibrollated sigglestats – it makes no difference securities are securities.
Enocito, lad, you’re hopelessly behind the times. Have a read of sec.gov/files/ia_virtualcurrencies.pdf which is quite clear in stating:
While we’re on the subject, do yourself a favour and ask Mr Google about the IRS’ stance on cryptocurrency.
HINT: it has nothing to do with not knowing “how the hell to regulate cryptocurrency”.
So, we have the IRS and the SEC – anyone else you think needs to “know”?
And that’s the situation the world over. What in the US is called the Howey test is just a commensensical definition of what a security is, everywhere.
There are lots of badly-written laws around, but generally lawmakers aren’t so abysmally stupid that they’d define something so narrowly that if someone simply replaced “money” with “something which isn’t money but which you can easily exchange for money”, they’d be above the law.
anyone who say that this is a ponzi is a complete ignorant of what they are doing.
They show the transactions, anyone can check the cryptos adresses and see the transactions.
Regulated or not that doesn’t matter, there is plenty of scams that are regulated, what matter is the seriousness of the business and it’s profitability.
I’ve never seen a mlm investment that is transparent about where the money come from, it’s the first one.
And? That’s not evidence of external revenue being used to pay investor withdrawals. Nor is it a substitute for registering with financial regulators and filing periodic audited reports.
It totally does. The only reason MLM companies commit securities fraud is if they aren’t doing what they claim to be.
You talk about audits but that’s irelevant, today there was a case with audit companies who got fined 1 million € for making fake reports on 250 to 300millions worth of bills (so with only 1M fine they are still in nice profits so they’ll keep doing it).
The ones making the audit can write watever they want.
And it was not only one audit company it was various (Mazars, PwC Audit, PwC Entreprises and Michel Tamet & Associés).
And while searching for it i’ve found that it’s pretty common that audit companies make fake audited reports.
For sure an auditor can put whatever they want on an audit. And scammers can file those reports with financial regulators.
Just means they’ll get fucked over harder when caught. Regulators still investigate and catch scammers, like the examples you provided (boy did that backfire).
TL;DR: Mind Capital is still committing securities fraud because it’s a Ponzi scheme.
Some investment opportunities which file audited reports as required by law are still scams.
All investment opportunities which break the law by not filing required audited reports are scams. If they weren’t they wouldn’t break the law.
So no, it’s not irrelevant. Mind Capital is still a Ponzi scheme because they have no magic money machine that generates returns of 1.8% a day, which means any returns paid to investors are funded by new investment.
If they did they would apply for authorisation from securities regulators before soliciting investment.
Note that we started off with Hehe claiming that Mind Capital was the first MLM to be “transparent about where the money come from”.
Now he’s claiming that it doesn’t matter that they’re not transparent about where the money comes from because some random other companies filed audited but nonetheless inaccurate reports.
Scammers funny.
hello behindmlm. I would like to give my opinion on Mind capital and any other platforms that give 0.5% to 1%.
For me they are all ponzi schemes some more and some less. It is impossible to pay so much interest. We are talking about 200% per year.
You are absolutely right about everything you write. They are all ponzi scheme.
If these investment platforms were 100% true, no one would work anymore because it would be enough to invest € 10,000 to stop working and earn € 1500 a month.
The world discovery. There is no need to work anymore, we all invest in these projects and nobody works anymore?
You can’t compare mind capital with other ponzi platform, Mind capital is fully transparent about what they do, they show their accounts every week and you can ask them any question. (Ozedit: snip, see below)
You don’t need to, they’re the same thing.
Feel free to provide evidence Mind Capital has registered with securities regulators and provided legally required periodic audited financial reports.
Social media marketing is not a substitute.
And seeing as you stated I can ask Mind Capital any question, here’s one:
Why does Mind Capital commit securities fraud and continue to operate illegally the world over?
Answer or spam-bin.
I’ve never said that, can you quote me ?
I said audit doesn’t matter, it cost a shitload of money to make and can’t be trusted. I trust more if i can control the transactions by myself.
Also they are far from paying 1,8%/day so that show how little you know about them.
You forget all the ones that never get caught.
Yes sure and you pay for it i guess, audits and regulations are not free.
I’m sorry what, you’re banging on about hypothetical companies that “never get caught” committing securities fraud?
Yeah look, good luck with that strawman. Meanwhile in the real world Mind Capital is committing securities fraud and operating illegally.
MLM + securities fraud = Ponzi scheme.
“I can’t afford it” is not justification for committing securities fraud.
The only reason Mind Capital hasn’t registered with financial regulators and provided audited reports is because it’s a Ponzi scheme.
Filing fake audited reports with the SEC has real world consequences. Can’t afford it… cut the crap.
If the above is true, as you state, then this website is pointless. Just have a landing page with that statement and go for a walk in the park.
BehindMLM covers more than securities fraud. If you’re looking up nothing but Ponzi schemes that’s a you problem.
I was just casually browsing this website and I coulnd’t find an article without the words ponzi or fraud in it. Just saying…
Like I said, that’s a you problem.
Part of our content is coverage of MLM scams. If that’s all you’re into that’s all you’re going to find.
Hi Oz,
I see that this review was back in January and a lot has changed since that date.
Could you do a new review about Mind.Capital?
They now have their own exchange and just registered with the Astana Financial Services Authority, business identification no. 201042900243. Address:55/20 Mangilik Yel , Block C4.1, office 251-252, Z05T3D0, Nur-Sultan,
Kazakhstan.
I think this kind of put this company in a another level and it deserves a new fair review.
None of this addresses Mind Capital committing securities fraud and running a Ponzi scheme.
Kazakhstan, really?
Mind Capital is currently stealing money from Venezuela, Mexico and Colombia. Mind Capital is not registered to offer securities in any of those jurisdictions.
And still *crickets* on legally required audited financial reports.
It’s just the office, not the company itself. Moreover, they are not permitted to conduct financial operations according to their license.
And also considering that they are NOT registered with the AFSA, but with the AIFC (Astana International Financial Centre), we can safely say that this so-called registration is just opening an office in Kazakhstan.
Exit scam in full swing now.
It lasted a while, but I guess with the rise in price of BTC the crims are keen to cash out at this point.