RuneCoin Review: RUNE points ICO lending Ponzi scheme
RuneCoin provide no information on their website about who owns or runs the business.
The RuneCoin website domain (“runecoin.co”) was privately registered on January 18th, 2018.
As at the time of publication Alexa estimate Russia is the only significant source of traffic to the RuneCoin website (18%).
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.
RuneCoin has no retailable products or services, with affiliates only able to market RuneCoin affiliate membership itself.
The RuneCoin Compensation Plan
RuneCoin affiliates acquire pre-generated RUNE points from the company’s anonymous owners.
RUNE points are sold to RuneCoin affiliates for 50 cents to $1.20 each.
Once acquired, RUNE points are “lent” back to RuneCoin on the promise of an advertised ROI of up to 43% a month.
- invest $100 to $1000 and receive a daily variable ROI plus 0.05% bonus daily rate for 249 days
- invest $1001 to $5000 and receive a daily variable ROI plus 0.1% bonus daily rate for 199 days
- invest $5001 to $10,000 and receive a daily variable ROI plus 0.2% bonus daily rate for 159 days
- invest $10,001 or more and receive a daily variable ROI plus 0.25% bonus daily rate for 99 days
RuneCoin pay referral commissions are paid out on invested funds down three levels of recruitment (unilevel):
- level 1 (personally recruited affiliates) – 10%
- level 2 – 7%
- level 3 – 3%
RuneCoin affiliate membership is free, however free affiliates only earn referral commissions.
Full participation in the RuneCoin MLM opportunity requires a minimum $100 investment.
It seems not everyone got the “lending ICO Ponzi schemes are over” memo.
RuneCoin presents itself as your typical “we’re gonna be the next bitcoin!” scam.
Bitcoin and Runecoin are not much different, the difference is the opportunity as well as price.
To have one Bitcoin, you have to get ready for more than $8000.
You have a better opportunity of acquiring Runecoins because the price is still very cheap.
This is of course based on baloney, with RUNE points holding no value outside of the lending Ponzi platform.
RuneCoin claim to generate external ROI revenue through an “algo-trading stack”.
The company provides no evidence of “algo-trading” taking place or any other source of ROI revenue other than new investment.
Using new investment to pay existing investors a monthly 43% ROI makes RuneCoin a Ponzi scheme.
Lending ICO Ponzis like RuneCoin play out as follows:
Admins (who are typically anonymous) offload worthless pre-generated points in exchange for real money. In this case it’s RUNE points.
RuneCoin’s admins then use some of this money to pay promised ROIs for as long as new affiliates sign up.
Once affiliate recruitment dries up so does RuneCoin’s ROI reserve.
When a predetermined threshold is reached, RuneCoin’s anonymous admins do a runner with what’s left.
Early RuneCoin investors make a bit of money (mostly via recruitment of new investors). But same as any other Ponzi scheme, the reality of such scams is that the majority of participants eventually lose money.