Team Coins Review: 2×6 matrix bitcoin gifting
Team Coins provide no information on their website about who owns or runs the business.
The Team Coins website domain was registered on March 23rd, 2017. Diana Schmitt of ADI.Works is listed as the owners, with an address in Mainhausen, Germany also provided.
Diana appears to be a relative (wife?) of Robert Schmitt (right), who admins the official Team Coins Facebook group. Schmitt also appears as a support contact on the Team Coins website.
In a March 30th post to the group, Schmitt confirms he is the owner of Team Coins.
As far as I can tell, Team Coins is Schmitt’s first MLM venture.
Read on for a full review of the Team Coins MLM opportunity.
Team Coins Products
Team Coins has no retailable products or services, with affiliates only able to market Team Coins affiliate membership itself.
The Team Coins Compensation Plan
Team Coins affiliates gift bitcoin to each other via a 2×6 matrix.
A 2×6 matrix places a Team Coins 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 two positions into another two positions each (4 positions).
Levels three to six of the matrix are generated in the same manner, with each new level housing twice as many positions as the previous level.
A Team Coins affiliate signs up and gifts 0.004 BTC to the affiliate who recruited them. This payment in turn qualifies the affiliate to receive 0.004 BTC from two affiliates recruited into the first level of their matrix.
Payments across the other five Team Coins matrix levels operate in the same manner, the only difference being the amounts gifted at each level:
- level 1 – gift 0.004 BTC to the affiliate who recruited you and receive 0.004 BTC from two subsequently recruited affiliates
- level 2 – gift 0.006 BTC and receive 0.006 BTC from four affiliates
- level 3 – gift 0.02 BTC and receive 0.02 BTC from eight affiliates
- level 4 – gift 0.11 BTC and receive 0.11 BTC from sixteen affiliates
- level 5 – gift 1.26 BTC and receive 1.26 BTC from thirty-two affiliates
- level 6 – gift 5 BTC and receive 5 BTC from sixty-four affiliates
Joining Team Coins
Team Coins affiliate membership is tied to a 0.004 BTC gifting payment.
Full participation in the Team Coin MLM opportunity costs 6.4 BTC.
Conclusion
Although I wasn’t able to find any evidence of it, I’m tipping Robert Schmitt tried a few bitcoin gifting schemes and then decided to launch his own.
The bitcoin gifting matrix business model primarily benefits those who run them, via pre-loaded matrix positions.
These positions collect the majority of passed-up funds at each matrix level, with what’s left passing to a few affiliates who signed up early.
Once affiliate recruitment dies down, which is inevitable, the majority of Team Coins affiliates will find they’ve gifted in more than they’ve received from other participants.
Hello,
Thank you for your review, appreciate your time and efforts. I have already added the Owner My wife and me as the only admin.
We have added a download sections for our members starting at the first upgrade, NOT FOR FREE MEMBERS parts will be for resell others not.
As for us, we are here to stay as long as I can cover my costs this site will be running fro everyone.
My wife gets nothing for this she is not even in the matrix. and me only because I’m the admin, support, contact, etc.
We pay all costs for the Software, Hosting, Maintenance, Products, Advertising, which is conducted from our side, which is not cheap.
I offer out Members Free Advertising on other sites we have
etextads.com
magicsafelist.com
solocommissions.com
Which They get no where.
I hope you will be fair enough to add this in the review.
Again, Thank you for all your efforts and time we appreciate it..
Robert Schmitt
What you bundle to a gifting scheme doesn’t matter.
Gifting schemes are illegal the world over.
Unless you’re divorced and living separate lives, does it really matter whose name the Team Coins admin position(s) is/are in?
Sorry, there are (Ozedit: Offtopic derail attempt removed, if you wish to discuss the government do it elsewhere.)
But what makes us special is people get products which they in return can distribute and make addtional sales to there investment from 4.50$ and if the follow the set up they only have that invested. In return they can profit from the products which are legal and can be resold or used for personal use.
We are in the plans on adding White Label Products which can be recoded and sold as there own products in there company name.
They can also use the soucre code to improve the programs to there needs or wishes and sell them as there own at no additional cost from the investment of 4,50$ that alone doen not make us illegal as you mention above.
Best wishes and health,
Robert
You think you’re the first admin to provide access to gifting scheme participants?
No matter what you attach to a gifting scheme, it’s still a gifting scheme.
Affiliates paying affiliates in MLM is cash gifting and cash gifting schemes are illegal the world over.
PS: if the term Bitcoin Gifting is illegal Please let me know and I will change it.. That I’m not sure about.. Robert.
The currency is irrelevant. The gifting model of new affiliates paying existing affiliates and getting paid by newly recruited affiliates is the problem.
I realize thats its critical to make sure your legal which is also my intend. I will have to ask an attorney for more help. I know as mentioned above we are Legal.
just for the fact that people are not just donating, they are getting a product in return.
I repeat in no way do we want to do anything illegal and of course if we are illegal we will have have to take the site down.
Robert
You can’t make a cash gifitng scheme legal.
Affiliates paying affiliates = cash gifting, irrespective of what you bundle with gifting payments (think a Ponzi scheme with ad credits).
If you sought legal advice and were told otherwise, you received bad legal advice.
A typical gifting schema as you say is that I would earn from each and every member correct?
Nope.
I don’t get it. Sorry but people donate to each other on a freely basis, they don’t have to do anything if that’s what they want and wait for spillover to get there next donation.
they are not obligated to sell or buy any products they even get products to sell for there 4.50$ where they can keep 100% of there profit and just becuase I’m the admin doesn’t mean they have to donate or pay me anything.
it could even happend that I have most of the costs for running the system. They all can profit and eran the diffenrent stages and levels ..
Sorry, I don’t have long. I have to go the an flohmark soon.
A legitimate donation is not attached to qualification to receive payments from subsequently recruited participants.
That’s a cash gifting scheme.
Who specifically pays who is irrelevant, affiliates paying affiliates in MLM = cash gifting.
Through pass-ups at each matrix level, your preloaded position(s) eventually receive the majority of funds gifted in.
The only way that doesn’t happen is if nobody gifts money to unlock level 2 of their matrix.
wait everyone can join on a freely basis, then they decide if they want to join the program or not and donate to their sponsor.
I mean people are donating to each other because they see an advantage where they all can profit.
I mean I could understand it and see a problem if I was really the only one earning anything but thats not the case your downline can earn more then there upline…
ok have to go feed the dogs and get ready.
Whether it’s free to sign up or not is irrelevant. Commissions are only paid out when one Team Coins affiliate pays another.
Yep, there’s no other reason to participate in a cash gifting scheme.
Cash gifting schemes are scams and illegal the world over. That’s the only problem you need to worry about.
Sorry, what commissions? These are Donations has nothing to do with commissions.
Legitimate donations don’t qualify you to earn money.
Earning money in an MLM opportunity = commissions. Cut the pseudo-compliance crap, you’re not fooling anyone.
oh, I not trying to fool anyone, Sorry if your getting this impression.
Trying to pass off illegal cash gifting payments as donations? Riiiiiiiiiiight.
If so much as a single member is in the United Kingdom, Robert, your “donation” argument is the noose around your own neck courtesy of Gambling Act 2005.
(il)Legality is a secondary reason for not participating in cash gifting schemes when you realize only approximately 5% of members will make a profit and the other 95% of members will be nett losers.
Since I’m not sure if my site is 100% illegal I have taken the site down.. Until I clear any and all issues.. it was not my intention to conduct any sort of crime ad until I’m 100% sure I’m legal the site will stay offline…
I thank you for your time and efforts…
No worries. Just make sure you get MLM specific legal advice this time.
yes will do..
Gotta say that was an odd little “counseling” session Oz.
Think you can convince any other scam running admins to pull the plug? 😀
@ Robert…good for you
There is absolutely no mathematical way that any type of “donation” or gifting program will be beneficial to all participants. As LRM mentioned above, the majority lose and the bigger it gets the more losers there are.
@Chris
It’s happened a few times. Quietly more often than not.
(Ozedit: This isn’t the place to recruit programmers)