Pool Miners Review: Reboot of GCR mining pool concept
On their website, Pool Miners claim ‘PoolMiners, SL is based in Spain (EU)‘.
Spain’s Registro Mercantil Central charge a fee to conduct business name searches, so I was unable to verify this claim independently.
Other than the mention of PoolMiners SL, there is no information on the Pool Miners website disclosing who owns or runs the business.
The Pool Miners website domain (“poolminers.com”) was registered on the 28th of October 2015, however the domain registration is set to private.
Further research reveals Pool Miners promotional videos citing Ruben Arcas as co-founder of the company. Why this information is not provided on the Pool Miners website itself is unclear.
Arcas is mentioned in Pool Miners newsletters, however he is not credited as co-founder of the company.
Arcas Twitter profile reveals he is involved in the website Krypto Commerce.
Krypto Commerce International is a company pioneer in innovation, development of applications and projects based on blockchain technology.
To what extent Krypto Commerce may have inspired or been involved in the formation of Pool Miners is unclear.
On the MLM side of things, Ruben Arcas was part of the Global Coin Reserve leadership team:
Global Coin Reserve was a matrix-based recruitment scheme launched in 2014.
In 2015 it was renamed Global Currency Reserve and solicited thousands of dollars for GCR Coin mining packages.
GCR Coin ultimately proved to be practically worthless, with Global Currency Reserve closing its doors in January, 2016.
When Ruben Arcas left GCR is unclear.
Read on for a full review of the Pool Miners MLM opportunity.
The Pool Miners Product Line
Pool Miners has no retailable products or services, with affiliates only able to market Pool Miners affiliates only able to market Pool Miners affiliate membership itself.
The Pool Miners Compensation Plan
The Pool Miners compensation plan sees affiliates invest in packages. Packages are classified as 30 Day Packages or 365 Day Packages.
30 Day Packages
- Basic – 75 EUR
- Advanced 188 EUR
- Super – 469 EUR
- Professional – 1172 EUR
- Power – 2930 EUR
- Ultrapower – 7324 EUR
365 Day Packages
- Mega Basic – 500 EUR
- Mega Advanced – 1100 EUR
- Mega Super – 2420 EUR
- Mega Professional – 5,324 EUR
- Mega Power – 11,713 EUR
- Mega Ultrapower – 25,728 EUR
The Pool Miners compensation plan is devoid of any information on ROIs paid out on the above packages.
What we do know however is that package investment does equate to shares:
30 Day Packages
- Basic – 1 share
- Advanced 2.6 shares
- Super – 6.76 shares
- Professional – 17.58 shares
- Power – 45.7 shares
- Ultrapower – 118.81 shares
365 Day Packages
- Mega Basic – 0.57 shares
- Mega Advanced – 1.31 shares
- Mega Super – 3.01 shares
- Mega Professional – 6.88 shares
- Mega Power – 15.76 shares
- Mega Ultrapower – 36.05 shares
From what I’ve been able to ascertain, these shares correspond to a daily SARCoin mining pool run by Pool Miners.
Each day Pool Miners purportedly mine SARCoin and then share mined coins with Pool Miners affiliates, based on how much they’ve invested.
SARCoin is a publicly tradeable cryptocurrency, with a current value of 6.9 cents per coin.
In order to earn commissions, Pool Miners affiliates must maintain active membership.
This is done by purchasing and repurchasing Distributor Packages:
- Distributor Quick Start (45 EUR) – commission qualified for 30 days
- Distributor 180 (230 EUR) – commission qualified for 180 days
- Distributor 365 (432 EUR) – commission qualified for 365 days
Pool Miners Affiliate Ranks
There are five affiliate ranks within the Pool Miners compensation plan.
Along with their respective qualification criteria, they are as follows:
- Distributor – recruit two active affiliates
- Group Builder – recruit and maintain three active Distributor ranked affiliates
- Team Builder – recruit and maintain two active Group Builder and two active Distributor ranked affiliates
- Organisation Builder – recruit and maintain one active Distributor affiliate, two active Group Builder affiliates and one active Team Builder affiliate
- Community Builder – recruit and maintain two active Group Builder and three active Team Builder affiliates
48% of revenue generated by Pool Miners affiliate packages is placed in the Commercial Bonus.
The Commercial Bonus is 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 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.
Pool Miners cap payable unilevel levels at ten, with commissions paid out as a percentage of package volume company-wide as follows:
- level 1 (personally recruited affiliates) – 16%
- level 2 – 8%
- level 3 (must maintain at least two recruited active affiliates) – 5%
- level 4 (must maintain at least two recruited active affiliates) – 4%
- levels 5 and 6 (must maintain at least three recruited active affiliates) – 3%
- level 7 (must maintain at least four recruited active affiliates) – 3%
- level 8 (must maintain at least four recruited active affiliates) – 2%
- levels 9 and 10 (must maintain at least five recruited active affiliates) – 2%
The Infinite Bonus allows a Pool Miners affiliate to earn on package volume from their entire unilevel team.
- Distributors earn a bonus 2%
- Group Builders earn a bonus 3%
- Team Builders earn a bonus 3%
Note that the Infinite Bonus stops paying on a unilevel leg if there’s an affiliate in that leg at the same rank or higher than the affiliate qualifying for the bonus.
Also note that Infinite Bonus percentages stack up to a maximum 8%. The same is true when the bonus stops paying.
Eg. If a Group Builder affiliate ranks in a Team Builder’s unilevel leg, they will only earn 3% on volume in that leg.
Once someone qualifies at Team Builder, they will no longer earn an Infinite Bonus on that leg.
Pool Miners affiliates can earn a Matching Bonus on Commercial Bonuses earned by recruited affiliates.
The Matching Bonus is paid out down four levels of recruitment as follows:
- Distributor – 25% on Commercial Bonus earned by personally recruited affiliates
- Group Builder – 25% match paid down two levels of recruitment
- Team Builder – 25% match paid down three levels of recruitment
- Community Builder 25% match paid down four levels of recruitment
The Leadership Bonus is made up of 6% of total package volume in Pool Mines.
The Leadership Bonus is split into two pools (3% of package volume in each pool).
Organisation Builder ranked affiliates receive a share in one pool. Community Builder ranked affiliates receive a share in both pools.
Joining Pool Miners
Pool Miners affiliate membership is tied to the purchase of a Distributor Package:
- Distributor Quick Start – 45 EUR
- Distributor 180 – 230 EUR
- Distributor 360 EUR
The primary difference between the above packages is commission qualification.
Distributor Quick Start commission qualifies a Pool Miner affiliate for 30 days. Distributor 180 for 180 days and Distributor 365 for 365 days.
SARCoin doesn’t appear to be active outside of Pool Miners, so I’m unsure why someone would pay thousands of dollars for shares in a SARCoin mining pool.
It seems to me the SARCoin mining component of Pool Miners is hopelessly speculative, with the MLM opportunity instead what is actually being marketed.
The MLM component of Pool Miners is pure pyramid scheme.
Nothing is marketed to or sold to retail customers, with affiliates providing 100% of revenue paid out as commissions.
The commissions themselves are all tied to recruitment of new affiliates who invest in packages, making Pool Miners a pyramid scheme.
Broadly speaking, Pool Miners seems to be an incognito reboot of the idea behind Global Currency Reserve.
Create a publicly traded near-worthless cryptocurrency, charge people thousands of dollars (EUR in this case) to participate in a mining pool and hope for the best.
With interest in the coin limited to the attached business opportunity, the value of SAR Coin is not surprising.
If you want to see how Pool Miners will play out, look no further than the respective collapses of Global Coin Reserve and Global Currency Reserve.
Update 28th January 2017 – In late 2016 or early 2017 Pool Miners collapsed. It has since been rebooted as Infinitum Flame.