My Bit Rush Review: Bitcoin doubler with pyramid recruitment
My Bit Rush provide no information on their website about who owns or runs the business.
The My Bit Rush website domain (“mybitrush.com”) was registered on July 14th, 2017.
Andres De la Parra of Bit Rush LTD International is listed as the owner, with an address in Madrid, Spain also provided.
I wasn’t able to find anything connecting De la Parra to My Bit Rush outside of the domain registration, raising the question of whether he actually exists.
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.
My Bit Rush Products
My Bit Rush has no retailable products or services, with affiliates only able to market My Bit Rush affiliate membership itself.
The My Bit Rush Compensation Plan
My Bit Rush affiliates invest bitcoin on the promise of an advertised daily ROI of 0.5% to 1.5%.
- invest $100 and receive an eventual 150% ROI
- invest $250, $500, $1000, $3000, $5000 or $10,000 and receive an eventual 200% ROI
A 20% referral commission is paid out on funds invested by personally recruited affiliates.
Residual Commissions (binary)
A binary compensation structure places an affiliate at the top of a binary team, split into two sides (left and right):
The first level of the binary team houses two positions. The second level of the binary team is generated by splitting these first two positions into another two positions each (4 positions).
Subsequent levels of the binary team are generated as required, with each new level housing twice as many positions as the previous level.
Positions in the binary team are filled via direct and indirect recruitment of affiliates. Note there is no limit to how deep a binary team can grow.
At the end of each day My Bit Rush tallies up new investment volume on both sides of the binary.
Affiliates who invest up to $3000 are paid 10% of matched volume, with unmatched volume on the stronger binary side carried over.
My Bit Rush affiliates who invest $5000 or $10,000 receive a respective 12% or 14% binary commission rate.
Residual Commissions (matrix)
Based on how much a My Bit Rush affiliate invests, they receive a 2×3 to 2×12 matrix.
A 2×3 matrix places an affiliate at the top of a matrix, with two positions directly under them:
These two positions form the first level of the matrix. The second level of the matrix is generated by splitting these first two positions into another two positions each (4 positions).
The third level of the matrix is generated in the same manner and houses 8 positions.
A 2×4 matrix adds another level to the matrix (16 positions), a 2×5 matrix another level (32 positions) and so on and so forth.
- invest $250 and receive a 2×3 matrix
- invest $500 and receive a 2×5 matrix
- invest $1000 and receive a 2×8 matrix
- invest $3000 and receive a 2×10 matrix
- invest $5000 and receive a 2×12 matrix
- invest $10,000 and receive a 2×15 matrix
My Bit Rush affiliates are paid 1% of funds invested by affiliates placed into their matrix.
The Daily Matrix functions much the same as the residual matrix, however I believe it generates an ongoing daily payment.
- affiliates who invest $250 to $3000 receive a 2×10 daily matrix
- affiliates who invest $5000 receive a 2×12 daily matrix
- affiliates who invest $10,000 receive a 2×15 daily matrix
The daily commission rate is 0.015%, paid on funds invested by affiliate placed into the matrix.
Joining My Bit Rush
My Bit Rush affiliate membership is $25 plus an investment of $100 to $10,000.
The more an affiliate invests the higher their income potential via the My Bit Rush compensation plan.
My Bit Rush claim to generate ROI revenue through cryptocurrency trading, cryptocurrency mining and “token and ICO acquisitions”.
There is no evidence provided to confirm My Bit Rush is active in any of these areas.
Furthermore My Bit Rush’s claims fail the Ponzi logic test.
If My Bit Rush was able to legitimately generate a consistent ROI of at least 1.5% a day (that’s 547% annually without compounding), why would the elect to share it with random strangers over the internet?
The reality behind My Bit Rush is that new affiliate investment is the sole verifiable source of revenue entering the company.
Affiliates are encouraged to invest more, by way of locking higher commission rates behind a paywall (pay more = earn more).
Given that My Bit Rush has no qualms paying pyramid recruitment commissions (binary/matrix), there’s little doubt all that’s happening to generate the ROI is shuffling of newly invested funds.
Using newly invested funds to pay existing affiliates a daily ROI makes My Bit Rush a Ponzi scheme.
As with all Ponzi schemes, once affiliate recruitment slows down so too will newly invested funds. This will starve My Bit Rush of ROI revenue, eventually prompting a collapse.
The math behind Ponzi schemes guarantees that when they collapse the majority of participants lose money.
Take note that MyBitRush is the 3rd followup opportunity after Gladiacoin. When Gladiacoin shut down and took all the bitcoin belonging to members, they cheekily and openly said they have sent up TwiceCoin, the Gladicoin no 2.
When they shut down TwiceCoin, MyBitRush became the next one being promoted by the same GladiaCoin and Twicecoin “leaders”. So my conclusion is that MyBitRushg is Gladiacoin no 3.
Eduardo Pineda (facebook.com/sisepuedesisepuedeconeduardo) is a major promoter of MyBitRush and tried to recruit me too.
Eduardo Pineda was a big promoter of GladiaCoin and Twicecoin. He is best friend with William Portillo, the biggest leader promoter of Gladiacoin.