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.
Commission Qualification
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
Commercial Bonus
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%
Infinite Bonus
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.
Matching Bonus
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
Leadership Bonus
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.
Conclusion
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.
Thank you Oz.
Don’t forget that there is Salvatore D’arco too, the same background of Ruben Arcas (GCR and before PMR-MYTIRN).
Sarcoin-Poolminers is a big scam, as GCR. Sasà D’Arco and Ruben Arcas are in a new scam, Bob Wood too, with Nexxus University and Kelly&Kelly with Karabarts.
When will they do a “serious work” in their life?
Ruben Arcas and Sasa Darco are scammers, they use the same techniques of sale.
This offering promotions Global Currency Reserve: youtu.be/pgP-uzgsf4o
Here when they said they did not belong to corporate: youtu.be/owo6RUaqLZU
Rubén using the same video sales to sell GCRcoin youtu.be/HhweqDmUdbc or new scam Sarcoin: youtu.be/KDpfbuII1EY
It’s been more than 3 months and only they line their pockets. They say they have gotten more than 4000 clients yet have captured millions of dollars in commissions because only handle just pay and $13,000 in the Bittrex market.
They know that could give value to the currency but nevertheless they keep it and spend it on nonsense.
You can get more information about Poolminers SL on libreborme (kind of Spain’s Registro Mercantil Central but open data):
libreborme.net/borme/empresa/poolminers/
I was doubt this program, thanks info.
Thanks you for this analysis. I will invest no money in this scam.
@Paul
Ruben and darco were both leaders in EMG/FinanzasForex where they recruited my friend.
They convinced him to go to the GCR scam and lost more money there too. Both are big scammers and lost millions but always seem to escape authorities.
Am watching closely this scam as I have friends in Spain selling this again. Anyone know about this company Krpto Commerce and SarCoin connected to Poolminers?
This is what happens when you don’t read the review.
@Roger
Are you sure that Ruben y Sasà lost their own money?
what do you think about them debit card?
poolminers.com/index.php/2016/03/20/un-nuevo-socio-para-krypto-commerce-international/
Not much to think.
A debit card through a third-party merchant is neither here nor there. You can’t fudge legitimacy through association.
Ruben y Sasà:
Emg/FinanzasForex: a scam
MyTirn-Pmr: a scam
GCR: a scam
Excellent c.v. I don’t know how some people can invest a penny with them.
Sarcoin- Poolminers is doing an important recruitment in Vietnam.
The link with Oz’s review has been removed from the official thread ol Sarcoin on bitcointalk.org because:
What inaccurate informations? What false assumptions?
“Indirectly involved in GCR yes,they both owned coins, and shilled, this was their first introduction to crypto and as we all are, were very excited about the technology. Poolminers was even started with a loan, as neither were in a situation to bankroll after GCR. (note: this loan is paid off and the company is well in the green, profits go to promotions, sponsors and funding development)
They both cut their losses, and left the community, once they realized things were not adding up. They also offered a chunk of the SAR premine for GCR -> SAR swaps 1:1 early on, to help get anyone out of GCR that may have invested based on their promotions.
We all make mistakes from time to time, and sadly occasionally get duped, especially when first entering into new technology that at the time, did not properly understand.
I personally feel they have done everything in their power to make up for this mistake.
Regarding My-Tirn, this was a straight up ponzi (just like EMG). Both ruben and sasa were users/investors of My-Tirn. Luckily they managed to retrieve their money back by contacting CFTC. This was before crypto.
They were not owners or employess of any of these companies. simply users like anyone else that got scammed.
Sadly ponzi’s are quite alluring to people in countries struggling economically and it’s not always clear something is a ponzi at the beginning. I hope the description of the poolminers platforms functionality shows how this is different. No funds are locked in our service, with the exception of the optional virtual staking pool. Users receive btc from referrals to external addresses daily, and we encourage users to withdraw their sar from our online wallet asap.
The vast majority of the premine is stored in a cold wallet. the remaining is in a staking wallet that gets used to keep the blockchain moving when others are not staking, and to top up the online hot wallet for the daily distributions.
On the bright side these experiences make them very knowledgable in this area. They are both very passionate about crypto as a whole, and are doing their best to educate new users to prevent them falling for the same type of scams (e.g onecoin”.
By Xocel, the self moderator of the thread.
Either Ruben Arcas either Sasà D’Arco were accredited in the managment of GCR.
Ruben and Sasà minimize their rule in GCR and in the others scam.
It’s a fact that a lot, lot of people lost a lot, lot of money with them through the years.
This is a scam. Who ever is claiming it as legit is part of this scam.
GCR was run by them and they also run the Sar and PoolMiners scam. Only matter of time when this PONZI Scam will be exposed.
Hello everyone.
My name is Ruben Arcas and I am one of the people on which many of you are giving your opinion in this blog.
I believe that sites like these are necessary, I myself have sometimes used them but freedom of expression make inevitable that many people can give their opinions even without enough information to make accusations as serious as those that are sometimes made.
I will not get into any discussion, I just pretend to clarify some things and then will respect what each of you want to think. I ask you to excuse my English.
FIRST MATTER. REFERENCES.
Some people talk about me and Salvatore as promoters of Finanzas Forex and managers of GCR Marketing.
I personally had an account in Finance Forex and some referrals but I did not develop that business actively, personally I lost in that company 7000 €. Salvatore only had one referral in Finanzas Forex. ☺
Where Salvatore and I were commercial leaders was in MyTirn, a company whose president was a guy named David Merryck who claimed to be a former executive of US banking.
MyTirn presented a very interesting project in Forex that according to David Merryck, were made through a Panamanian bank traders with whom he was linked. Furthermore entire board was formed by pastors or members of the evangelical church and looked like a serious project.
In that company never had a problem until one day we find the news that the SEC had intervened accounts of the company. I myself created a web of affected that channeled a demand through the Italian firm Giambrione that has enabled many people to recover 80% of the investment.
As for GCRMarketing I have to clarify two important issues. The first is about the nature of the business.
GCR Marketing is a company that created a very interesting concept that could have worked if it had been managed properly. It was not a Ponzi because no offered returns but the directive made two important mistakes.
The first to contract the services of a developer to create the currency through internet. The second not reinvest enough in the development of the projects that would have to give commercial value to the gcrcoin currency.
Salvatore and I were the first people in the business and develop it commercially convinced it was an excellent opportunity.
Salvatore and I were never neither partners nor managers of the company although the company called us commercial vice presidents in recognition of the importance of our commercial structures.
The company consulted us issues related to the commercial network but never we had power to decide any matter.
In September 2015 the application development was lagging far without the company explain the reasons and at the same time there was a security problem for which many people began to lose their currencies at the hands of hackers.
Salvatore and I demand “publicly” to the company to explain the reasons and possible solutions to the two problems.
Initially we tried to help the company recommending the services of an expert in security and offering our contacts in the world of cryptocurrency to accelerate developments but we received no response and that was the reason we decided to find a solution on our own.
The origin of PoolMiners was initially offer an alternative to customers GCRMarketing so what we did is create a new currency, safer and with true linked projects and offer customers GCRMarketing the possibility to change the gcrcoins for sarcoins.
Some of the old customers of GCRMarketing decided to follow and have not lost their investment in GCRMarketing because they changed their currencies by sarcoins.
The truth is that we had less success than expected, probably because many people still trust on the Bob Wood project and they decided to continue. It is also true that we decided not to accept US customers until to have our own lawyers in the country.
Only 150 people migrated from one company to the other so PoolMiners ceased to be an alternative to GCR Marketing to become a new project.
Many people may consider our business experience in these companies as something negative but most people who emit such judgments are unfair. They are a lot of people who found in the mlm an alternative life that offers opportunities in times of crisis.
Unfortunately most mlm businesses are frauds and not only those who sell intangible products but also many that selling physical products. It is also true that many people involved in this business knowing that they are frauds.
I can guarantee that both Salvatore and I developed our sales network in MyTirn and Marketing GCR convinced of the viability of the company.
Everyone can think what they want about this but I ask you a favor. Look at all the people who have thought about us negatively because we have participated in these companies and mentally calculate how many of these people have promoted at some point in their life a company that has ended badly.
Probably most, however, when we judge others we do more harshly than when we judge our own acts.
SECOND MATTER. POOLMINERS.
PoolMiners, S.L. is a company incorporated in Spain and absolutely complies with all regulations. Our headquarters is in Aeronautics Avenue, No. 10, 3rd floor, modulo 2, 41020 Sevilla, Spain.
You are all invited to visit and get to know us personally check the documents of the company and see in situ all the projects we are working.
All people who buy a package to our company can download their invoice in backoffice and distributors can also download a self-invoice in the back office to declare their income.
The Spanish law requires us to report the payments and retain a tax called I.R.P.F. to all distributors of Spain reason why all distributors of Spain earn 15% less that is paid by the company directly to the Tax Agency.
Let’s talk about viability. As I said before our company does not offer any residual payments or interest, only we sell two products, one cryptocurrency and a debit card that offers innovative options.
People who buy our currency can do so for different reasons, by the advantages offered by criptomonedas or the expectation of revaluation.
The fact is that our currency is on the market and has a market value that is public, so that buyers are owners decide whether they are interested in buying or not.
The card is the first card in the world to be able to load from a backoffice using a bitcoin wallet and other sarcoin. This means that the sarcoin will be the second cryptocurrency to be able to spend with a debit card and therefore much easier to use.
The company currently allocates 72% maximum commissions although we have some promotions that do not fall in this percentage, the rest is for the company where all managers have a salary and where benefits will not be shared until the end of the year.
We are currently expanding staff and investing especially in developing projects.
The company is working on three different kind of projects:
A. Projects for sarcoins users can purchase discounted products and services.
B. Projects to offer other advantages or added values to sarcoin users.
C. Projects to publicize the advantages of the currency, direct marketing, sports sponsorships and training courses.
We are convinced of two very important things that will influence the evolution of our currency.
1. The bitcoin has a script that has become old and will not be allowed to participate in most applications being developed at this time to cryptocurrency so other criptomonedas will be occupying the market.
2nd. Our currency has a solid project that will allow us to fight for those top positions.
They have now become fashionable many mlm companies based on criptomonedas. Most of them have very attractive compensation plans, they give positions to leaders or offer waste that no one knows from where.
We are the only company that devotes 80% of the time to explain our projects related sarcoin many of which we intend to launch from Oct. 1, a date that is very close.
For this we have one of the best developers of the moment who has created among other things, a browser blockchain already using more than 100 criptomonedas, and we are creating a good development team in Seville.
I do not intend to sell anyone our business now but make it clear that our company has legitimate objectives and a clear project in which we are working on.
As they say, time will put things in place and if we are doing things openly is because we know we’re doing things right.
Thank you. I reiterate the invitation to anyone who wants to know us better.
@Ruben
How do you justify operating a pyramid scheme? Pool Miners has no retailable product or service, nor does it market or sell anything to retail customers.
GCR was a pump and dump scheme, Pool Miners is no different.
Why do you need lawyers to operate in the US? Cryptocurrency is legal in the US, so it can’t be that.
Instead of crapping on about lawyers, be honest and state that you won’t operate in the US because you’re running a pyramid scheme coupled with a pump and dump shitcoin scheme.
You will not officially operate in the US because you know the SEC was all over GCR in its final days.
Spanish authorities won’t catch up with you until it’s too late, so spare us the garbage about being compliant there.
You’re selling an altcoin that has no use or value outside of the recruitment commissions you pay through Pool Miners. That’s all Pool Miners is.
The previous altcoin scam you were promoting collapsed and so now you’ve launched a clone to get an even bigger slice of your victim’s money. For shame.
I do not know if you have not read what I have explained or have not capacity to understand it.
Again talking about pyramid scheme. Do you know how a pyramid scheme works? Obviously we do not respond to that scheme.
We have already consulted with US lawyers they have actually told us that we can market our product in the US but we need to know better if there are restrictions on the marketing formula.
I do not think it’s wrong to seek legal advice where there is a specific regulation. We are also doing in Colombia where we have engaged the services of a specialized firm.
In any case since you say that we have no product will tell you that the cryptocurrency is considered a commodity in the US since September last year (Regulating Derivatives Bitcoin and Block Chain) and has come to be regulated by Commodity Futures Trading Commission (CFTC).
We know this because it is precisely the author of the regulation Houman B. Shadab, Professor of Law in New York Law School with whom we contacted in October to advise on the legality US.
That is, we sell a product.
You say we’re selling a currency that has no use. Nor had the bitcoin at first, it is necessary to build projects for the currency to be used.
To start, sarcoin may be used to charge our card and therefore sarcoins users will have a currency that will easily be able to spend on any establishment or even withdrawn from ATMs. We already have many agreements and, for example, sarcoin will be used to purchase “discount” travel and holiday services, enrollment at several universities, supermarket chains and many other products.
We are creating a commercial network that will be dedicated to recruit commercial establishments for a directory of companies that accept as payment cryptocurrency and also will offer discounts to those who pay with sarcois. Simply you are talking lightly of something unknown.
Yes, it’s when you pay affiliates to recruit new affiliates and neither market or sell anything to retail customers. Y’know, just like you do in Pool Miners.
with the heat from the SEC on GCR it’s too risky.
Regulations on what exactly? Cryptocurrency is legal in the US, so that leaves pyramid schemes.
Don’t hold your breath on those being legalized any time soon.
to participants in an income opportunity, who get paid to recruit new participants. Yes, I know.
Nobody “built” bitcoin projects. It evolved due to legitimate supply and demand.
You can’t artificially manufacture supply and demand, as you propose to do with your “built projects”. Didn’t work for GCR and won’t work with Pool Miners.
And the withdrawals would be drawn on whose bank account? Yours?
Yet here you ware, without any of that in place, hocking a virtually worthless altcoin for thousands of EUR.
Every MLM cryptocurrency makes promises about merchants, to date none have delivered.
Here’s a thought, don’t solicit funds from affiliates until you’ve actually got something in place.
Yes, yes, you’re cloning Bob Wood’s failed Nexxus platform. Newsflash: That concept flopped.
Enough excuses. Come clean, acknowledge you’re selling unicorn farts and profiting handsomely from it.
In this case, your English is perfect.
@Ruben
Why did Salvatore D’Arco and you guarantee that GCR was backed by gold when this was false?
Of course, at the beginning Bitcoin value was few cents but no one had to pay a lot of money to mine bitcoins. Behind the Poolminers pure scheme there is nothing.
Shitcoin… i love it Oz.
Not my term. Generally used term for worthless altcoins.
Well, we no base our business in recruitment. I do not understand why you insists on this idea and I have already explained that we have products. All mlm offer commissions for sales and network creation. If that seems wrong I not think you can speak well of any company on this site.
Our consultations on regulation in the US not due to the nature of the product but the marketing formula as I said. But do not worry because soon we will be there properly represented legally.
You speak of bitcoin and that its demand is not created artificially. The bitcoin was an experiment that was soon shared by many people. But were the foundations of bitcoin who pushed through use projects.
Now the world of cryptocurrency has evolved and there is an entire industry around this new form of payment. Do not try to create an artificial value but a business initiative that generates uses of the currency so that people are interested and buy it.
It is perfectly legitimate.
Card withdrawals are made through an exchange system integrated into the application that connects to change platforms. Soon you will see videos of people using this card without problems.
About the possible uses of our currency, well, we already have the card which obviously offers many advantages, especially to people in countries where there are strong devaluations or difficulty getting a card.
But remember that our currency already has a market value and I have said that many of our projects will launch on October 1. Do not compare with companies that say they will enter the market within three years.
As for the Nexxus platform problem it is not that never work but never did.
We are building this trading system really and as I said, time will determine who is right in a short term.
What are you talking about?
I recruit a new Pool Miners affiliate who pays up to 25,728 EUR when they join and I get paid money.
Do you not know your own compensation plan works?
Cryptocurrency is entirely legal in the US. So what product are you talking about?
Yet you specifically cannot operate in the US. That’s odd for a “perfectly legitimate” opportunity.
And what projects would those be?
Bitcoin is where it is today as a result of legitimate supply and demand. Your attempt to artificially create supple and demand through “projects” will fail, just as it did with GCR.
And I ask again, on whose bank account will funds withdrawn on these cards be drawn from?
Hello Paul. GCRMarketing for a time said the currency would be partially backed by gold and then was not so.
What happened was that Bob Wood had an agreement with Anthony Eufemio, an expert in cryptocurrency who publicly spoke of the alliance between GCRMarketing and Dixit Global which is a gold company in which he was a director. The problem came when Bob Wood and Anthony Eufemio broke relations.
As for mining bitcoin is nothing more than a formula for decentralization of verification of transactions and give value to the currency by increasing the cost of undermined through algorithms artificially.
Our currency is a POS currency that promotes decentralization of verifications by staking and guarantees the increased cost of the currency through its distribution system.
As opposed to legitimate supply and demand.
/facepalm
I perfectly know our compensation plan and all the people who buy a package in our company receive a product in return, either a card or crypto currencies.
Supply and demand by itself does not value a coin. When there is only this is when we talk about expeculación. They are necessary projects that give real value to the currency so there will be a natural demand of users.
I do not quite understand the meaning of this question “And I ask again, on Whose bank account funds will be withdrawn on These cards drawn from?”
If it refers to the origin of the funds that people can withdraw, I think I have answered. We work with a supplier of VISA and funds get out of the account of the supplier. Thus all debit cards work.
Users typically have their funds in cryptocurrency but it becomes an automatic change of cryptocurrency to fiat money when necessary.
As for this comment about our distribution system “As opposed to legitimate supply and demand”, just to clarify that the number of users who buy every day is that determines the cost of our currency also within PoolMiners.
What does that have to do with me recruiting a new Pool Miners affiliate and getting paid?
You think attaching a product to a pyramid scheme makes it legitimate? And here you are claiming to have attorneys all over the world…
Yeah, it does. Supply is generated by real-world practical uses of the coin.
I can do a lot with bitcoin today, which has evolved over the years through genuine supply and demand.
No one company sat there and created artificial demand by selling affiliate packages and designing “projects”.
A Pool Miners affiliate walks into a bank and uses one of your cards to withdraw $100 USD. On whose account is that $100 withdrawn?
If it’s not SarCoin, then all your affiliates are doing is withdrawing fiat currency commissions you’ve already paid them. This has nothing to do with SarCoin and it’s disingenuous to claim or suggest otherwise.
That’s more of a Ponzi mechanic as opposed to a legitimate cryptocurrency, whose cost determination is a combination of supply and demand.
Users buying packages through Pool Miners being the only determining factor of the value of SAR Coin is classic pump and dump.
The coins have no practical purpose by which to legitimately gauge their value.
Hello everybody I’m so sorry rates my English is’t perfect.. I’m From Colombia and I’m a executive is PoolMiners I past I have executive of ZRII other MLM company of USA.
I think that PoolMiners have to the terms in law, Single pr this company have a own product an the companion scheme is clear.
By the other side a credit card is a really new product in this business become anyone crypto currency except Bitcoin have this option to sold your coins in any place that get VISA.
For the Ponzi scheme that you talk, I think that you try made or learn obout PoolMiners business becoise is notable that you don’t now the business.
Only recommendation I made to Ruben and him team that is a clarify in the back office hoe many shares have in the business but I think is more clear to the others an me too becouse in this moment we paid more spencive the sarcoin and in this case is’t a business for my, but I think so the company fix this.
I believe in this company an think you can do it.
I still do not understand. We do not pay on recruitment, we paid for selling products. This is what makes any mlm and is perfectly legal.
Obviously we do not intend to reproduce the evolution of bitcoin because now, as I said, there is a whole industry around the cripomonedas and thousands of users. You’re going to see us if we will generate a real demand based on the advantages of our currency.
As for cash withdrawal at an ATM. Users who do charge fees in bitcoins and can convert them directly with the card. The change sarcoins initially be more limited because obviously the volume is still small but soon will be much higher.
Again I am in disagreement on your question on the distribution system. First, people can buy and sell and are free to do so knowing the market value.
On the other hand your entire argument is based on our currency does not provide any other value and this is something about we have already said that soon the facts will answer.
It was not my intention to enter into discussion but give an official version of the company.
In any case I think it has been useful answer some of your questions. Sorry for differences but I hope that soon I can return to the forum with some of the projects already completed. Good luck to everyone.
I sign up as a Pool Miners affiliate and invest in a package, I recruit a new Pool Miners affiliate who does the same and I get paid. What’s there not to get?
You have no retail products or services… it’s pretty straight forward.
And again I ask, what account is the money drawn on? Sounds to me like you’re just issuing a debit card, which will be tied to a Pool Miner affiliate’s commission balance (real money).
Doesn’t seem to have anything to do with SarCoins.
That’s fine. On one hand we have a few successful cryptocurrencies based on organic supply and demand.
On the other we have the supply of worthless coins and attempts to create artificial demand such as GCR, Nexxus Coin and, well pretty much every MLM cryptocurrency to date.
None of which have managed to get anyone who isn’t paid to recruit new affiliates interested in their cryptocurrency.
But no, I’m sure Pool Miners will be different. I mean it’s not like you’re 1:1 heading in the direction of GCR and Nexxus Coin or anything.
Yes, Poolminers sells a product: a worthless coin.
It is more like hump and dump not pump and dump. Hump the package buyers and dump them just like before.
I shall give credit to them for coming up with new rubbish tactic of a scam.
I do not understand how they have many customer here in vietnam if they are very big scam company?
@Oz
Exactly where they are going 1:1 GCR scam with sarcoin and poolminers.
Many people join this scam from Vietnam and all will sorry for this decision.
@Vietnam1
Because greed in Vietnam is the same as greed anywhere else.
@GohP
Launch worthless cryptocurrency. Sell worthless cryptocurrency at inflated prices through affiliate packages.
Pay MLM commissions on package purchases to encourage marketing of overpriced packages.
Make a bunch of promises designed to artificially increase the value of the cryptocurrency while dumping your pre-mined worthless coins on affiliates through the packages.
Finally, do a runner when worthless cryptocurrency remains worthless.
@Oz
What can you reccomend to make a complaint against them? They make me sick to my stomach.
I wrote to SEC but they will take their sweet time to forward investigation to their European counterparts.
You give them real money, and in exchange they give you “cryptocurrency” you don’t understand and you can’t sell (except through them). Very good business, yes?
@Philip
Other than local authorities there’s not much you can do. If you’re looking for swift action unfortunately regulation doesn’t work like that.
In all cryptocurrencies forum it is told clearly that poolminers is a scam. So Ruben Arcas, in a webinar, advised customers not to write on specialized forums.
I write to Spain police and fraud report. I hope they do something.
@Oz
Thank you for suggesting. I wrote to the ministry of economics and Spanish law enforcement. I hope that they do something about these dirty people now.
Seems that they are trying to cover their dirty work by announcing some real projects which don’t even exist anywhere. Criminals are getting smarter and smarter.
It is the fraud. They not release my coin for sell.
That is to say: do you have some sarcoin and can’t sell them?
It is declared a fraud and pyramid on all forums. You are not smart to buy anything from poolminers.
I’m the other Jaime, I often write, and I am from Sevilla and I can confirm that here Ruben y Sasà are well known guys but they are now expanding their activities where they are not yet known.
You must be part of poolminer scam too and defending those criminals.
Your confirmation of them does not mean anything to open forum and what are the criminals explaining really and where? To your downline and recruitment in secret videos?
Shame on you too for trying to defend criminals.
What are you writting? I have written a lot of posts about Ruben y Sasà, since GCR scam!!
Here they are very famous scammers (in Sevilla) but now are scamming Vietnam, Romania and so on.
OK. You must be writing clear that they are well known scammers. Your old post looked like you were defending their criminal scams.
Poolminer debit card is fake and from Wavecrest. They are only labeling it as a third party and looks like authorities have closed their scam debit card website.
They must be changing their business name and domain name as the current domains are fully tainted with scam tags everywhere on the internet.
I run radio. I will talk about this on my show and people wil know more about this problem.
Do you buy thousand euro package to sell coin for cents? hahaha
Ruben Arcas’s webinars are painful, every time always the same platitudes. I don’t know how people can belive him.
Only crazy people can believe webinars. It is very clear they are sinking ship and soon no more join them and also no more will renew their package.
It is a shame that these days scammers using crypto to hire new members . If new member stop join then no money they will have to pay commission. Their end is also near.
I share the same thoughts. You see their webminar on youtube. It is the same garbage of MLM using crypto to make quick money and scam people.
Well said. Failed sales man and failed DJ doing ponzi scam to get rich fast. Smart of them to keep all their scammed moeny in bitcoins to avoid taxes.
A scam like Poolminers/Sarcoin takes on average a year and a half / two. Now Ruben y Sasà are in Vietnam.
I saw their pictures eating Vietnamese food on facebook on Sasa D’Arco facebook.com/sasa.darco.
You are true Paul that this scam will not be alive more than 2 years guaranteed. The crazy thing is that now they do not know what is going to happen to that scam. Soon they will see.
Do you know something that we don’t know?
It is obviously same like all ponzi companies. Steal from investor and get rich fast and face legal problems. See the Vietnam visit pictures on his facebook.
It is already almost dead. Check the price of this scam coin. No value of it outside fake value inside poolminer ponzi.
If I’m not mistaken , in a webinar, Ruben said that they are keeping the price down on purpose.
I heard that in the webinar and i am sure it is an excuse because they can not control it. Sarcoin has no value outside the poolminer and in exchange people sell to recover their losses.
For the writer of this news tell us if you have any more news about this Ponzi scam.
It seems their scam coin is dead and the value is finished. They are finally closing their scam now a days?
No news on my end. If the coin is collapsing though sounds like it’s going to plan…
There is news circulating that scam people got hacked so they put lie news on their site that they moving and improving system. Scam site down today :))))
What happened to Poolminers site?
They got hackered and not admit opnely. Failed Dj Salvatore D’arco and Ruben Arcas have more new lies that they update to new system.
They dont do anything but change the site face later maybe. Every member data is exposed somewhere.
Amazing the brazenness with which Ruben explains its participation in various scams.
A judge in Italy has sentenced to two years in prison Francesco Bais , colleague Sasa D’Arco in Tirn. Together they promoted Tirn in Sicily and together were in GCR.
It is because Sasa D’Arco and Ruben both are uneducated people and they only know how to do MLM scams to make money illegal.
Their trail of scams go beyond this and what you mentioned.
Ye, I can confirm that Francesco Bais has been sentenced to two years in jail for the scam Tirn . I saw Bais and Salvatore D’Arco to promote together Tirn in Sicily and after together in GCR too.
For Francesco Bais this is the link (in italian language).
normanno.com/cronaca/falsi-promotori-finanziari-condannati-per-truffa-e-appropriazione-indebita/
Look here for their proof of GCR scam. Same conferencia methods. Old fake promises.
youtube.com/watch?v=UpA1sRjOTM4 and youtube.com/watch?v=3LZQJmkMgfE and here youtube.com/watch?v=-9eHDBkham4 and here youtube.com/watch?v=twCZ7fEgmig and here
youtube.com/watch?v=owo6RUaqLZU
Ruben Arcas and Salvatore D’Arco are old team with very old MLM SCAM history. After they were hacked in GCR they started their own scam Poolminers with a scamcoin SARCOIN.
To justify the ridiculous value of Sarcoin Ruben Arcas said that there are two values of Sarcoin: one on the market (bittrex) and one in the back office.
Is this a joke ? The third value must be in their bedrooms then. Thieves don’t even know how to defend their lies.
If people stop to sign up then no money they can pay for commission. So tell me if this is not a Ponzi.
That sarcoin is just another shit coin and without buy support on bittrex it is zero value. Only look at the debit card they claim. It is a white labeled card from a company Wavecrest.
All total, they have nothing of their own and like middle men. Look at their paper wallet it is also not made by them but Cryptolife guy.
Do you think people don’t know all that? They do but greed to get money quick in MLM is dominant.
Their card is from mychoicecorporate.com. Same company which white labels for everyone so their card is a scam too.
If you want a similar card you just apply for branding with small fee and get your company card labelled.
I am not able to find me coin in back office and there are many error inside. I feel they closed operation and stole my money and coin.
Let that be a lesson for you and everyone else. MLM Scam only pays for short time.
If you are located in Spain then it’s easy to contact local authorities.
The internet does not lie. Just enter Poolminers in Google and you see only scam reports and illegal MLM pyramid scam. What is left to discuss?
Oz. How does it feel to save a bunch people from Ruben Arcas and Salvatore D’arco?
This page bitcointalk.org/index.php?topic=1390872.0 brought me here.
(The other Paul)
What about the last post by Xocel?
bitcointalk.org/index.php?topic=1537615.40
Asif Baloch has gone for “a lack of professionalism and ethics”. Working with Ruben y Sasà (two famous scammer) it is really funny.
I know that man and he told me the reasons he left them and he made a smart move. Leave your (Ozedit: attempt to take discussion offsite removed)
It is very interesting how they say it.
(The first Paul here)
Asif Baloch works for INTERPOL. linkedin.com/in/dr-asif-masood-baloch-phd.
He will be exposing them or putting them inside himself :D. We must approach him and get his story of what happened.
I try not to think of individual circumstance. The MLMindustry is so big that there’s always the next day’s news and reviews to research.
Xocel is Luke Williams.
Luke Williams is another failed self proclaimed developer and lies that he made sarcoin but sarcoin was made by cryptolife.net people for paid money.
It is the team of liars and scammers doing ponzi and do everything to justify their criminal crimes.
The shit with this shitcoin and shit scammers keeps getting better and better.
I messaged Asif Baloch on linkedin and let us see what he says about this.
I spoke to Doctor Asif Baloch and this is the conversation. I had to blank out few things for privacy.
Now we know and confirmed that Ruben Arcas and Salvatore D’Arco are scammers.
I never had doubt: Ruben y Sasà are true scammers. And, as Asif says, Sasà has a criminal mind. He is well known.
Did you have any permission from Doctor Asif before posting his chat here?
@Constantine You must ask first before posting private chat and conversation log. You can be in trouble if the user hears about it.
I don’t think so he will have problem and if so then i will ask Oz to remove that post.
Doctor Asif says: “im not incharge of this investigation but one of my colleague is.”
I’m curious: who is, Ruben or Sasà?
Ruben and Sasa are serial scammers who do Ponzi scams only or some failed work like Dj or insurance sales.
The coin is worth 1 cent but the scam continues.
Not for long time. Old member also complain to police and made a new group with evidence to put them in jail.
I know the story of Asif Baloch but do not know of other members who have made a complaint. What is the name of the new group?
Asif Baloch is right: Sasà has a criminal mind. He avoided the jail by the skin of one’s teeth more and more in his life. He passed to a scam to another without working a day in his life.
Now Ruben y Sasà are scamming Russian people with Benito Garcia.
And what about Benito Garcia?
Benito Garcia is another failed MLM Scammer. He ran many failed ponzi and recruitment scams and when every thing failed he joined his friend Ruben Arcas.
I can confirm : Benito Garcia is another well known scammer. In Spain a lot of people lost money with him, for instance in Empower Network and so on.
behindmlm.com/companies/empower-network/empower-network-affiliate-jailed-for-fraud/
Like Ruben and Sasa he spends his life from a scam to another.
The shitcoin is a bubble. There is nothing special about it.
Sasa Ruben make buy orders to increase the price with recruitment money. Half of scam money is spent on prostitutes and travel. Slowly you see it dissolve in dust everything they claim.
After they failed in Vietnam country now they are in Russia trying to collect the mafia money. They are busy replying letter from Interpol.
I don’ t see an official site on line on Poolminers !
I also noticed this: the web pages say little or nothing, the webinar just says they have lowered the price of the debit card (30 euro from 80 euro with no comp plan).
I have the feeling that the scammers Ruben y Sasa want to keep a low profile.
There are two big investigation on Poolminers. We are waiting…..
This is their new website: kryptotech.io
I also heard the same. Their fake developer Luke William also did some fraud in Newzealand and is wanted there for fraud.
Only criminal thinking minds can make a business together and if you see all their profile then Ruben, Sasa, Luke, Benito and Fernando are all wanted for their old crimes.
Keep very close eye on them because they will change their identity again and start some new scam.
What debit card? You mean the shit idea they came up with to fool people.
Anyone can pay few thousand to a third party card processor and make a debit card. They don’t have any card. It is the Wavecrest card like Xapo. SARCOIN is a shitcoin without any value.
There is a new entry in Kryptotech/Poolminers/Sarcoin : Alex Sterk.
The site is registrered in .io but it says notingh.
I know this new loser Alex Sterk . He is only a blogger for penny traders. Luke and Sasa invited him for Expo to make it look good but like the New Zealand guy he is also understand un qualified and shit coin promoter only .
This .io domain is bought from name cheap website for bitcoin to hide the registrar and payee info.
Look here. Poolminer card is label of WAVECREST. Is taken from poolcard.io/en/terms
Nobody is crazy to give them label card local so they go to offshore scam place where everyone wants to keep secret funds in Gibraltar.
Everything is already exposed. When investigation is finished they all will be in jail for money launder and tax fraud and also the scam fraud.
This is not a credit or a debit card.
And why does Ruben speak about the “tarjeta de debito” in every webinar?
Good you see another scam of Ruben.
From Florin Achim Strachinuta’s fb page. Poolcard is or not a debit-credit card?
Here you can see where the famous ” tarjeta de debito ” is from:
wavecrest.gi/solution/digital-currency/
There is a bad atmosphere around, so poolminers scammers are hiddind com plans, schemes and are pointing to other things as payment solutions.
There is no doubt about anything that poolminer and sarcoin are losing their scam market.
Today i also heard from scammed member that Sasa stole his downline and stole thousands in Euros. Sasa now using his girlfriend Luke William to send money out of Spain in other altcoin currency.
Poolminers is doing the scheme selling the “tarjeta de debito” (debit card), as you can see in the last webinar in the plan presented by Benito Garcia.
If this is exposed and a full scam then why some people are still joining them?
Stupidity? Ignorance? Naivety? Desperation? Greed?
Can someone confirm if arrest warrant for them and their promoters are created in France?
Sasa is not arrested yet but their Seville adviser attorney is very busy trying to save his ass. Like every other scammer his end is also prison one day.
Something’s going on. In a few hours the Sarcoin has halved its small value.
It means Salvatore is not making buy support on bittrex. Less member join means less bitcoin to make fake buy orders to artificially raise the shitcoin price.
When you were offline I had found the comp plan for the debit card. If I ‘ll found it again I’ll post it.
Scammers DDOS this website so people cant see the truth about criminals. These days you only pay half bitcoin to DDOS one website for a week.
All people beware of future coming scam from krypto scam team. (Ozedit: marketing spam removed)
This alex sterk only runs a youtube blog to promote altcoins and poolminer group paid for his ticket to bring him in the conference and put consultant face.
On their main site they now say that they are making another coin LOGYC which clearly seems like a new scam because UBIQ + SArcoin shit coin merge is done by the third man Julian of jumbucks.
When i see Salvatore Darco Managing Director and Financial controller then i laugh. He did not complete his college graduation and started scamming people in brazil and colombia.
His arrest warrant already present for tax fraud so now every day he makes calls to avoid jail. When you see Ruben selling insurance and suddenly getting money then he thinks he can do anything with money but world does not revolve like that.
The people like Gorka who are making claim with the police for scam is also a big scammer. They are old gcrcoin ponzi people who joined poolminer and some left after they got scammed by Ruben and Salvatore.
The fact of reality is that you must start counting days or see local news paper when all of them with the newzealand luke william go to jail. It has been decided.
Gorka scammer king scammed by Salvatore!
I think Asif Baloch was right: Salvatore is a criminal mind type.
What you said is true. Sadly the Oz removed the YouTube link I posted but you can search internet for it.
Gorka is scammer small king but Salvatore and his gang members are the real scammer kings. Jajaja.
What Have I search for?
Search for Blocktalk on YouTube there you see the Alex steel channel with poolminer scammer member Luke William talking garbage.
His name is Alex Sterk not Alex Steel. He is only a coin promoter and friend of that Newzealand scammer Luke williams
Poolminer company very quiet. They already in jail or what? JAJAJAJA!!!
Poolminers is focalizing its activity on debit cards (with 11 levels of compensation). Only few members are posting on their fb pages to promove the poolminers card, Ruben y Sasa are missing.
Are they in Cuba?
They are making normal skype conference and call daily with members giving more fake promises that everything is normal. But they are hiding from public these days.
Adrian Jacuzzi was involved in EmGoldex scam.
God speed Carlos. The world needs to be clean of scams and crimes like these people.
This man Adrian is a super scammer yes and if you see all the team players of criminals they have them all have the current and past scam history.
Benito the father of scams means the end of company. Excise they needed a super scammer like Benito to save their scams .
And , directly from Onecoin, Irina Ignatyeva!!!!
You are true. She is under down line of Adrian Jacuzzi.
Poolminers “Zarcoin” has had some problems with justice since september in Colombia. This is the link:
cmi.com.co/uno-dos-tres/cuando-la-gente-no-aprende-la-leccion/402925/
Couldn’t independently verify this on the Superintendencia Financiera website.
I’ll send an e-mail to the newspaper.
You are super. Write to other news papers too as well.
They say that Superintendencia Financiera does not understand how people falling in trap of poolminers.
Simple answer is Bitcoin transaction for package subscription. They dont see how to control bitcoin.
Scammers very smart now and they use bitcoin to get and send commission for hiring down line members. Any member of poolminer reading you must stop now before you lose all penny.
Confirmed from my Colombian source that Salvatore and Ruben have arrest warrant in Colombia and wanted for questioning by polocia.
My sevillan sources tell that Salvatore is free at Ischia (Naples, Italy) now!
Finally a new video from Ruben Arcas (lately desappeared). He speakes about a new project, new company, new names, new images….
Yes he is at Ischia now but does not mean he is not wanted in Colombia.
Nothing new will come since the owners of poolminer are old scammers with new scammer recruits joining their team.
Is the coin died?
SARCoin steadily declined through 2016. Will continue to decline in 2017.
Happens to all of the MLM pump and dump scamcoins.
Suddenly you will see it end. Poolminer sasa and Ruben fighting authorities now these days so these days less attention on new recruitment.
When it gets more worse then scam coin will be dead.
Sasa is doing a cruise in the Mediterranean sea. Coming back he may have some surprises.
Since when a failed Dj can afford a cruise? If he is not scamming then the Luke William is increasing the price with pump and dump of this shit coin. Scamming continues still.
Yes, I see Sasa’ s wife fb page. Ruben posted on youtube a new conference. New society, new platform ( ubiq) , old scam. I also know about problems with authorities.
Soon we’ ll see a new society in Spain’ s Registro Mercantil. Open your eyes!
Every time the old one gets black listed or too much bad name then they create a new scam name but these criminals are doing it faster than other criminals.
I can’t wait to see them in jail because authorities are now also watching their moves .
Why did Sasa never try to promove either Gcr either Poolminers in Italy, his country?
Because his associates go in jail in Italy and Sasa is clever not to promote himself . He only use other people indirectly .
I don’t think so, maybe the italian laws are more compelling for mlm.
Ps: here there are two Paul and two Jaime.
There could be many bitten ex members with grudges too. Anyone who is a victim of Ruben and Sasa are angry and want justice.
New video by Ruben, open your eyes to Registro Mercantil.
Look inside this man eye in the video. Clearly he is lying and this method of what they claim is a lie. Do not fall for this change they offer and you will lose what penny you have left in your purses.
(The other Jaime)
It ‘s funny to hear Ruben calling to put “like” on the video on youtube. Ruben y Sasa’s name is seriously compromised, if you google you can understand it.
Yes, but Sasa has a nice car. He posted his mother’s pic with an expensive car.
Even brothels workers have nice car so what? 😀 . Criminal having a nice house or a nice car means not anything.
It is only a matter of time for Ruben y Sasa.
Fingers crossed. Can’t wait to see the scam end and Ruben Sasa and Luke in prison.
What about the Chicago Film Festival (in I.F.site)? Sasa y Ruben don’t appear.
No comments about the news?
No more site of Infinitum Flame on line.
Their new site online now
It is an old site. I didn’ t find nothing about the new society on librebrome.
The new name of poolminer is infinitumflame . They claim they are not scammer but same team and same model and the same scam going on.
This forum caused problem for them so they must have to change name to hire new members but they are crazy that internet record and policia record not going away anywhere 😀
Also maybe after they got hacked too. I was given this now but hack done on Dec 14th, 2016 according to pastebin site. Now privacy problem bad security and hacking.
pastebin.com/Di9M1zAe (Op notice this)
There is a new review by oz on this site.
Poominers has collapsed and failed. New thread moved to this
https://behindmlm.com/mlm-reviews/infinitum-flame-review-qwark-ponzi-points-pool-miners-reboot .
Great typo.
JAJAJA .It was meant to be a typo but turned out to be a real thing. Shitcoin miner shitminers. PooMiners 😀