USI-Tech Review 2.0: Forex auto-trading dropped for bitcoin Ponzi
USI-Tech’s original business model saw the company charge affiliates €600 EUR for access to an automated forex trading platform.
USI-Tech claimed their bot had made ROIs of up to 150% annually in the past, but provided no proof of past or present trading taking place.
The problem with USI-Tech’s original model, at least as far as scamming people goes, is that euro is easily traceable.
This prompted USI-Tech’s anonymous owner(s) to relaunch as a cryptocurrency opportunity.
According to one USI-Tech affiliate, “Hardly anybody is interested in the forex side” of the business”.
In the interest of keeping up appearances and appeasing those who did hand over €600 EUR however, the company continues to offer and support to forex robot.
Whereas before the €600 EUR fee was mandatory, now it’s optional.
As the affiliate quoted above puts it, USI-Tech’s new bitcoin package offerings are “much more lucrative”.
USI-Tech’s new plan is simple:
Affiliates invest €50 EUR worth of bitcoin on the promise of a 1% daily ROI for 140 days (140%).
The ruse behind USI-Tech’s daily ROI is bitcoin trading, somewhat of a cliché in MLM cryptocurrency Ponzi circles.
As with the forex trading bot, USI-Tech of course provide no proof of any bitcoin trading taking place.
Affiliates simply invest €50 EUR of bitcoin and passively receive €70 EUR after 140 days.
The original USI-Tech compensation plan also included elements of a pyramid scheme, which have been retained with bitcoin investments.
To qualify a USI-Tech affiliate must pay the €600 forex bot fee and recruit three affiliates who also pay €600 EUR, or three affiliates who together invest a minimum of €600 EUR in bitcoin.
Recruitment commissions are paid out via a 3×12 matrix.
A 3×12 matrix places an affiliate at the top of a matrix, with three positions directly under them:
These three positions form the first level of the matrix. The second level of the matrix is generated by splitting each of these three positions into another three positions each (9 positions).
Subsequent levels of the matrix are generated in the same manner, with a complete 3×12 matrix housing 797,160 positions.
Positions in the matrix are filled via direct and indirect recruitment of new USI-Tech affiliates.
Commissions are tied to recruitment and fees and/or investment by recruited affiliates as follows:
- level 1 – 10%
- levels 2 to 8 – 3%
- levels 9 to 12 – 1%
That USI-Tech is a Ponzi scheme is confirmed by affiliate investment remaining the only verifiable source of revenue entering the company. That and the illogical nature of USI-Tech’s owners being able to legitimately generate a daily 1% ROI in bitcoin and sharing it with affiliates.
Trading of any currency is not tied to a fixed daily ROI. The only type of business model that can provide that level of consistency with such a high rate of return is that of a Ponzi scheme.
Speaking of USI-Tech’s owners, since BehindMLM published its original USI-Tech review in late 2016, they’ve been outed as Joao Severino, Horst Jicha and Ralf Gold.
Severino is from Portugal, Gold is hiding out in Brazil and Jicha appears to be in Europe.
A PO Box corporate address in Dubai is provided by USI-Tech. However beyond laundering investor funds, it’s doubtful USI-Tech has any physical operations in Dubai.
What’s particularly interesting is the claim “USI-TECH NOW IN USA” on the USI-Tech website.
Alexa estimate the US is the top source of traffic to the company’s website, meaning USI-Tech is and always has been “in the USA”.
With its MLM offering clearly a securities offering, that nothing comes up for “USI Tech” or any derivatives in the SEC’s Edgar database should be of concern.
A legitimate company cannot offer securities to US residents without SEC registration.
Hardly surprising though, considering USI-Tech aren’t registered to offer securities in any jurisdiction they operate in.
With promises of magic 1% daily ROIs, it’s easy to forget that USI-Tech launched less than a year ago.
Two years on average is about the tipping point for online Ponzi schemes, with USI-Tech arriving at this point a lot earlier.
The introduction of bitcoin investment to resuscitate the business will only prop up reserve funds for so long.
At 1% a day and with referral commissions to pay out, it takes approximately two to three months for USI-Tech to start losing money.
From what I was able to ascertain, USI-Tech introduced bitcoin investment in late May. This means we’re coming up on almost two months, or approximately 60% of initially invested funds paid out.
The Ponzi veterans trying to recruit you now need you to invest so they can collect their 140% ROI at 140 days.
When your own 140 days comes up, unless an endless stream of gullible idiots continue to invest, there’s going to be nothing for you to withdraw.
It’s not quite as harsh as the 200% model in 90 days bitcoin scams like GladiaCoin and JetCoin pushed, but the inevitable collapse of USI-Tech is still going to leave the majority of investors out of pocket.
Unfortunately by the time you realize there’s no money left, those who recruited you will have stopped responding to your emails and moved onto promotion of the next Ponzi scam.
The forex trading side of this was shown to me last September by a trusted friend, but something didn’t pass the smell test. Then it started to look even more fishy last January when the bitcoin trading deal came out.
Even the attorney USI has hired, Kevin Thompson, says that if there is no tangible product and if the company has an auto-reinvesting aspect, steer clear of it.
KT confirmed USI Tech aren’t a current client a few weeks back:
I wasn’t there, but I suspect that meeting went:
USI: Hay, help us legalize our Ponzi scheme in the US…
KT: LOL. *click*
Now that USI has changed its comp plan, you can be sure whatever review Kevin Thompson did no longer applies.
And please, NEVER say KT approves or endorses USI. He’s a lawyer. He’s VERY sensitive about untruths like that involving him.
The owners haven’t been outed. They are putting themselves out there all the time. Go to youtube and search “usi-tech owners” and watch some videos.
The owners also include Mike Kiefer. Mike Kiefer was a big MonaVie promoter. Ralf Gold promoted many short lived bs programs in the past. Joao Severino is barred from doing anything financial in Portugal due to his ties to AMC Invest.
Horst Jicha is the only one who seems totally clean: he was managing director at Primion Technology AG and a number of other companies. You can find his history on the web. I can find no dirt.
The packages were introduced in march at the earliest, I believe. Not May.
The packages yield approximately 1% bitcoin daily, not 140% all at once after 140 days. The returns range from 0.75% – 1.25% and are therefore not fixed.
The The actual daily returns are much less than 1% (over the whole amount), due to package rebuys being necessary to keep yourself growing.
Only high percentage programs dry up fast (see bitcoinsbrain, jetcoin, gladiacoin, etc.). Usi’s payouts are very low in comparison.
You can’t tell usi will go down quickly just from judging their payout percentage.
The way usi conducts business (constantly bringing new features to the site, having public appearances, a new product announcement coming up), I get the strong sensation they’ll be around for at least a few years, not a few months.
The 4 owners all bring something unique to the table. This is not a faceless company. It’s led by a shrewd team.
They (supposedly) set their btc package product up the way they have to stay out of trouble with finance laws. They teach you not to call it a return on investment, but a return on capital.
You’re not investing. You are buying a product: the btc package. Legally, they aren’t allowed to guarantee 1% per day or even 40% returns on capital.
No finance service provider is supposed to do this, not even the ones that are registered with the SEC (I think).
My insider tells me they are in fact squaring things with SEC anyway. Proof of btc trading is supposedly coming, along with a new website, better support, a move to amazon aws hosting, etc.
My insiders confirm to me the forex software really does work. So they must have trading knowledge, which they also use for the btc packages.
Watch the owners talk in youtube videos and you’ll understand why some see this program as their way out of poverty. They constantly organize live events all over the world. It breeds a lot of trust.
They are very different from every other program that has ever been out there. Promoters of the program have blind faith in it and trust that the company will do the right thing. They don’t need proof.
A lot of them will act like brainwashed freaks when called out (save for the rational minority). Ask for evidence of activities and they’ll use black/white reverse psychology on you: “You’re welcome to leave.”. Either you’re with them or against them.
The world is doing so terrible, people have to believe usi will set them free once and for all.
The facebook groups are filled with loud mouthed believers, who spew forth propaganda that suits their agendas. Voice criticism in a friendly & PC manner, and you invoke the wrath of the gods.
This is all I know. I’m on your side.
(Ozedit: Marketing spam removed)
^^ Classic case of ignore the business model at all costs.
If I have to go to YouTube they’re hiding.
There’s no legitimate reason for the owners of an MLM company not to disclose full ownership on a company website.
Sure you can, Ponzi ROIs mathematically are a zero-sum game.
100% in, 140% out after 140 days = mathematical guarantee of collapse.
The SEC doesn’t “square things” with companies. You either register your securities offering with the SEC or you’re committing violations of the Securities and Exchange Act.
This is the same as every other MLM Ponzi scam out there.
Regulators don’t care about pseudo-compliance. Paying a 140% ROI with subsequently invested funds is Ponzi fraud.
All the leaders, just push and push. Exactly what sharon james did in Traffic Monsoon.
Of course all her sheep will follow her and now shes boasting again about how many packs she has. The complained to her about TM, and now the same thing is happening here..
I am not ignoring anything. If you’ve paid close attention, you’ll have noticed I’m the only person viewing this thing from all angles.
Because going to youtube requires advanced skills that you normally only see in the likes of Sherlock Holmes.
Your claim wasn’t that they were hiding. It’s that they were outed, meaning somebody blew the lid off them. But that’s not what happened. They are putting themselves out there.
I don’t mind you destroying ponzis, but I’m sticking to objective facts myself.
Plenty of companies don’t list their owners on the site. They’ll list an actualy address… but nobody is interested in seeing the owners’ faces. Certainly not on the frontpage.
You think an owner’s photograph is going to increase conversions? People don’t care who owns a business. They care about what’s in it for them.
Show me the math. And remember that the true payout is much lower than 1% due to rebuys.
Just telling you what I’m hearing.
If that’s indeed how it works, then it is. If they trade, then it’s not. But how can we ever be sure they’re trading or not?
The youtube videos I posted at the bottom of my previous post, weren’t marketing spam. I don’t own those videos and they would not have gotten anybody signed up in my downline.
They are the same videos you’ll find if you do the youtube search I suggested earlier in my post. I just wanted to give you a feel for how these guys operate.
Not that I will give a fuck for much longer, since I started cashing out 2 weeks ago.
Not providing basic information about company owners on the company website isn’t putting anyone “out there”.
This is MLM. Only scams hide this information.
Invested funds + 100%+ withdrawals = kaboom.
I’m not really interested in what you’re hearing from Ponzi scammers.
Because if they were we wouldn’t be having this conversation.
Yes, they were.
It’s a Ponzi scam. How USI-Tech operate is not a secret.
Your math and reasoning isn’t good enough for me. Snarky in between replies aren’t going to cut it. I told you I was on your side. You should’ve worked with me & tried harder.
You must not be interested in insider info, as other commenters provide your site with so much more interesting content.
The brainwashed facebook leaders are going to love your attitude. They’ll use it as an example of the big bad outside world hating on poor usi. A pity, really. I would’ve enjoyed helping you destroy them.
Cool. Don’t really care.
Just another Ponzi hack who thinks he can beat the odds.
That’s a shame, Harry “I only care about making some goddamn money so I can live my goddamn life” Smiles was doing some strong early running for the annual “Littlest Flea” award for most transparently pathetic wannabe Ponzi scammer.
It never was until it’s too late for you. But don’t say we didn’t warn you.
Zeek diehards refused to believe they were cheated and scammed long AFTER Secret Service shut down the scam. You still have a couple months to go, but it’d be up to you to realize that.
Right now, you’re suffering from backfire effect… you’re rejecting ANY feedback that doesn’t fit your world view because you feel you are diminished by accepting such “negative” feedback. Or as Mulder used to say on X-Files… “I want to believe.”
This happens with every online scam “business”, whether it’s a fraudulent scheme pretending to be a legitimate MLM or some other type of legal business.
IMHO, BehindMLM is of greatest value to folks who are relatively new to MLM and are being pressured to join a supposed “MLM company” that is in actuality just a front for some type, e.g., ponzi or pyramid, fraudulent scheme.
Serial scammers and folks who join one fraudulent scheme after another, knowing full-well what they’re doing, or are the “I don’t want to hear the truth” brainwashed type you mention aren’t likely to change their opinion based on a BehindMLM review or anything anyone here might say to them.
So to clarify a few things here let’s get the terms and numbers straight so this does not look like scam scam reports.
(Ozedit: I’ll save you some time. Using invested funds to pay a 70 EUR ROI on each 50 EUR investment = guaranteed collapse.)
^^ Please don’t waste your and my time trying to justify Ponzi math.
Paying out more than is invested doesn’t add up any way you cut it.
I have heard many people making losses on the forex auto trader.. is this true? Any USI People confirm…
If that’s the case, why do people invest in the stock market?
No idea and don’t care. If you wish to discuss anything non-MLM do it elsewhere.
USI have just started enforcing KYC by August 25th, with a gigantic backlog of pending KYC approvals.
today I heard a number of escapees from Divvee Social have jumped onto USI Tech.
I joined USI 4 months ago, paid every day, no issues. I wish people researched facts before posting.
USI pays principal back plus 40% in 140 days. Roughly 0.28% in profits, and 0.72% principal daily. This ROI is not hard to make with an Algo-trader, even day-trading personally is not hard to hit those numbers.
You choose to compound or withdraw daily.
Whether you’ve personally stolen money from those who joined after you has no bearing on USI-Tech being a Ponzi/pyramid scheme.
1. So why is no auditing/accounting provided to USI-Tech affiliates?
2. Why isn’t USI-Tech registered with the SEC as they are required to be in the US?
So, how do you think ponzi / pyramid fraud works ???
Do you think victims send money to the criminals and they just keep it and the victims go on their merry way ???
That’s not how it works.
I have recently invested in the project, bought 5 packages.
It is money I can afford to lose if it goes belyy up, we shall see.
I wont add any more packs will juts click the auto rebuy and let it compound for 18 months lets see what happens.
This will be a fun ride. if only they had 1000’s of others doing that exact same thing.
Meanwhile the leaders make a mad dash with the cash!
Another way of saying, “I am actively participating in a scam by giving the head scammers my money which helps perpetuate it.”
You do realize that, don’t you?
USI are NOT registered with the SEC, they have an attourney (HDC) that has written his legal opinion after looking at the company, its owners and its products after talking to the FTC and his legal binding opinion is that they are fully compliant with the FTC and deemed a legitamate Network Marketing comoany with legitimate products to operate within the US.
They ar NOT registered or required to register with the SEC.
I hear they are seperating the customer side from the affilliate side and removing any costs associated with the licence as describe above by Behindmlm. All for compliance.
How on earth is a lawyers “opinion” in any way, shape or form “legally binding” on anyone ???
he’s basically giving his testimony and putting his reputation on the line having done all the background checks and case laws. So yes “his writen opinion” is legally binding to suggest they are what they say they are.
Im only reporting what im hearing, dont shoot the messenger.
even if your comment is very very dumb…?
you demand too much kindness sir!
“….. where Bowdoin and members told everybody that a lawyer (later identified as Robert Garner) had vetted the firm, it’s not a Ponzi, but a safe and profitable opportunity. The lawyer then appeared on the video proclaiming the same thing.”
Thanks for reminding me to post this tidbit moonboot. For those who don’t know, Bowdoin’s butt is in prison convicted of Ponzi fraud for orchestrating the scheme Ad Surf Daily.
Your welcome, still it doesnt prove a thing either way. (What happened to the lawyer?)
Haters always going to be haters, and players always going to be players. As with all these online “opportunities” time will decide.
Going to be some red faces or some alot of i told you so. Looking forward to the outcome.
Yes anjali, maybe wrong choice of words lol, how about legal writen opinion, which im sure testifying that something is one thing and it turns out to be another isnt good for your lawfirm or the guy himself.
Again in time we shall see the outcome.
the good ol’ ponzi playbook 101 excuses:
– ‘still it doesnt prove a thing either way’ – meaning we’re not shut down so we’re legal
– ‘Haters always going to be haters’ – meaning if you don’t agree with their scam you’re haterzzzz.
– ‘players always going to be players’ – meaning their scam is paying so they’re winners!
– ‘time will decide’ – meaning wait and see we’ll be right, But nobody’s around when the ‘time’ does come around!
– ‘legal writen opinion, which im sure testifying that something is one thing and it turns out to be another isnt good’ – meaning we Paid for a fluff piece legal opinion which we’re using to recruit so FO.
moonboot is being properly indoctrinated, i must say. good learner!
he’s already propagating too. he’ll be top notch ‘leader’ soon, at this rate!
There most certainly will.
But yours won’t be one of them. You’ll be long gone and using a different name to promote the next scam scheme.
Correct, meaning they are offering unregistered securities in the US. This is illegal.
I dump money into USI-Tech, they provide me with a passive ROI. That’s a security, which requires registration with the SEC.
The FTC, like every other US regulator, don’t discuss regulatory compliance with companies. Not unless there’s an enforcement action pending and/or they send off a cease and desist.
Which is why you cannot provide any proof whatsoever either USI-Tech or their lawyers have had discussions with the FTC.
Time in Ponzi schemes does nothing but give those doing the scamming time to get away.
USI-Tech’s business model is not a secret. The bitcoin packs are your typical cryptocurrency Ponzi scheme.
No it isn’t. But that hasn’t stopped lawyers digging their own grave in the past (Zeek Rewards, TelexFree etc.).
I’ve found a good way to “check” how legitimate something like this is. Watch it for a year or two.
Anything that costs money just to join is BS anyway, “free to join” Ponzi schemes require urgency and “get in now so you don’t miss out” marketing, while legitimate MLMs work no matter when you join.
So with USI Tech, I’m interested to see what happens to it and whether they manage to redesign the company so it’s actually legit, after all based on what’s being said, they seem to be trying.
I’m making an account and I’ll be watching it for a while. If it’s still around and managed to provide some financial statements (it’s not like withholding those makes anyone unfit for anything, really, including being president) within a year, I’ll think about buying something from them, but a lot will have to happen before I promote it…
Save yourself some time and just look at the business model (compensation plan). A Ponzi and/or pyramid scheme now will still be a scam in a year or two.
Live results of trading accounts by an independent trading site FXBlue for nearly 30.
The results speak for themselves, you can’t argue with FACTS – fxblue.com/users/usi2017/portfolio
That’s nice. Somebody who goes by “eagledriver7” made a portfolio on a forex trading site and called it “usi2017”.
The fuck does that have to do with USI-Tech running a 140% ROI Ponzi scheme and paying pyramid recruitment commissions?
There is zero correlation between a random trading account set up by persons unknown and funds USI-Tech use to pay affiliates with.
Unless USI-Tech provides a third-party audit proving additional source(s) of revenue, new affiliate investment is still USI-Tech’s only verifiable source of revenue.
Using newly invested funds to pay off existing investors = Ponzi scheme. Those are facts, not some bullshit account on a trading site that could belong to anyone.
Facts also says you can go on FxBlue and use their TRADING SIMULATOR to test trading scenarios. Did you watch real trading… or just a simulation?
sharon james, former top TM promoter, has risen to the top of the USI pyramid in a few months only. she’s hanging out with the top guys like John Smith, Grant Bourne etc. she has moved house, won the car bonus and two vacations already, and claims she’s earning loads of cash. looks like she’s dragged her whole TM downline into USI and is feeding off them again!
TM owner charles scoville’s trusted lieutenant immy aslam has joined USI too. aslam had gone dark after the SEC busted TM, but he has reappeared on FB promoting USI along with sharon james.
scoville is currently planning his next scam scheme, and with two of his top affiliates deserting him before he launches, he’s naturally frothing at the mouth.
these days he spends more time on FB ranting about how illegal USI is, rather than how legal TM was!
in may 2017, scoville had a video conference with USI’s ralf gold, john smith and others. ralf gold told him USI tech couldn’t provide proof of trading as the trading was done by third parties who refused to share these details! but, ralf gold assured scoville that he would be putting his foot down and demanding these details and that the third party traders would be coughing them up ‘soon’ in a few weeks.
that was may and now is september but ms.’SOON’ hasn’t arrived yet!
no proof of trading, no registration with the SEC, yet the co-founders Horst Jicha, Mike Kiefer, Ralph Gold and Joao Servino are happily selling USI tech in the US.
in another thread here, oz opined that if the SEC were to bust a ponzi this year, USI tech could be a deserving candidate.
in an interview a few days ago, co-founder horst jicha boasted that USI tech has accumulated 190,000 affiliates and has collected around 300 million from BTC packages in just about an year.
such boastful growth along with lies about being ‘compliant’ with SEC regulations, right under the SEC’s nose, doesn’t bode well for USI tech. they’ve gotten too big for their boots!
i mean, what if oz’ musings about USI tech come true?
I went to one of their presentations, a good friend asked me to come. I have to admit that i was sucked in by the ridiculous returns.
They did in fact use words like ROI and SEC compliant, etc… i could get access to around 25k if i had too, ill admit that I was tempted.
Not having any experience with MLM and what not. once i did some research and found that severino was barred from operating in Portugal for fraud, i called my friend and he blew up on me.
He has 70k in this shit and said he’ll be laughing all the way ti the bank. I wanted to save him and he was a total asshat…
If they have taken in 300 mil, when will someone put the brakes on this shit???
the SEC should!
in his recent interview horst jicha claimed an american ‘Billionaire’ was coming on board and investing in USI tech, and he would be developing all kinds of new tech for them.
if they have a techie billionaire investing why do they need to run around the world collected 50$ from all and sundry? they should just ‘trade’ with the billionaires money, and they can all become multiple billionaires [trillionaires? zillionaires?] in a short period of time!
don’t spew horse shit horst!
The hysteria that follows realizing you’ve lost your money to a bunch of criminal fraudsters will do that to you.
This one scam I can’t wait to see crash and burn! It will hopefully happen soon and also hoping that some of the pimps end up behind bars!
Why stand in front of a car that’s driving 100mph into a brick wall? It’s going to stop of its own accord soon enough.
I almost jumped in too last week and started digging. Made me entirely too nervous.
Like most I’ve worked too hard to hand it over to a scam. Realize nothing is guaranteed anywhere but at least expect SEC registration, proof of business registered in Dubai, proof of trading, something.
sharon james is not a bit ashamed about how much she’s fleecing her downline in USI tech. on sept 30th, 2017 she proudly announced on FB:
that’s a great mommy right there ^^!!
and the interesting conversation continues:
with no SEC registration, USI tech is currently getting the maximum traffic of about 21% from the US.
when the SEC shut zeek down, the receiver went behind zeek non-US affiliates for clawbacks too.
i hope the same fate awaits sharon james for being such a shameless serial ponzi promoter. she better keep some money aside to fight off a US federal court case!
I hope this work didn’t include receiving money from a scam vs. handing it over.
Things being guaranteed is out of context when talking about Ponzi/Pyramid schemes as these are straight up illegal. One doesn’t suggest that people risk robbing a bank and say you’re not guaranteed to come out with money.
I hope this isn’t true, but, this person, Shirley, sounds influenced by Charles Scoville – a scammer. He has run many scams in his day including Traffic Monsoon where he is probably awaiting criminal prosecution.
Not sure what you don’t understand. Let me clarify for you in case you’re unfamiliar with hard work. Most people would comprehend its meaning, if they’ve ever busted their butts day in and day out working to earn a living.
It also means I’ve got sense enough to stop and do some research before jumping into anything.
No reason to attempt to insult.
^^^^ It’s what they don’t say.
First the Forex software was never dropped. (deceptive title in my opinion) I purchased it.
Now,to ask to see if they are trading on the btc product is very wise thinking… With all the Bitcoin auto trade crap on the net- it is wise to be very skeptical.. I will be back in November..
Oh you can still purchase USI-Tech’s forex bot, but it’s been dropped. You must be the only one who purchased it since the bitcoin packages were released.
The focus now is exclusively on the bitcoin Ponzi packages, and you can verify this by going over recent affiliate promotional material.
I’d love to hear what you think about the latest announcement of them joining up with bitfury.
I see so many people joining USI-tech it’s scary. It’s so blatantly a ponzi, I just don’t get how these people don’t see it!
I think it has nothing to do with USI-Tech lying about SEC registration and running an illegal Ponzi scheme.
at mallorca, spain, where all the top USI tech scammers have congregated to enjoy their stolen money, it was announced that they have signed a 70 million dollar contract with bitfury to mine bitcoins.
if this is in fact true, then it raises the question whether bitfury is aware of USI techs illegal operation in the US and that they are just another crypto based ponzi/pyramid which is the flavor of the season in the MLM underbelly these days.
i have mailed bitfury asking them about their relationship with USI with links to articles here. lets see if they respond.
USI Tech doesn’t sign any contracts with Bitfury, contact are fake. This is officially confirmed from Bitfury side.
can you provide some link to bitfury’s statement on this matter?
alex petrov seems to be the chief information officer [CIO] at bitfury.
so, we can take his word that usi tech has no contract with bitfury, if he’s the same alex petrov:
facebook is full of affiliates announcing a usi tech/bitfury tie up.
yesterday i saw a post which mentioned ‘bitfury’ by name. someone gently advised the poster to:
today, the same post reads:
so, the bitfury contract news might have been a rumor, or a lie which was retracted quickly because it would be easily caught out.
but why cant the ‘MAJOR Bitcoin Mining Group’ be named? whats so secretive about a mining contract unless its fake like the secret ‘trading’ usi tech does?
So the CIO of bitfury goes on a mlm blog to deny a contract being signed, says it’s officially confirmed, yet I can’t find any official statement anywhere.
I have no idea who eagledrive is and what connection he has if any to USI, but this portfolio is only worth $300k, for its entire history of 284 days its profit is only 9.44% on average 2% monthly.
So how is any of that coorelate to USI advertized ponzi returns ?
If they actually have the secret to generating those returns consistently, they should get out of Ponzi scams quick and just make money through legitimate currency trading.
With returns of 27% per annum every investor in the country will be beating down your door. Charge them 1% per annum and you’ll soon be a billionaire with no risk of jail time.
Scrolling up this thread, you can only shake your head at someone with $70,000 in the bank investing in a Ponzi scheme promising 3,700% per annum returns. Much wants more and loses all…
I just don’t get it, I read all of this and shake my head in disbelief that people keep jumping on board with a blatant ponzi. Surely it has to crumble soon…
Sunk cost fallacy… People wanting to stay in to see if there’s a way out. In the back of their mind somebody is still saying “what if???? Maybe they’ll change.” It’s much like love…
Remember, people have warned that “Madoff’s numbers made no sense” for years. Madoff wasn’t caught. He ran out of money and confessed to his own family, who then called in their lawyer, who then called in the FBI.
“Common Sense is a Very Uncommon Commodity”
If any company really had trading software that produced at least 1% ROI daily, they would keep it to themselves and create compounding returns for themselves.
They would double their money in 71 days at just 1% daily. It would be a huge competitive advantage. There is no practical reason to sell their secret sauce to competitors that would in turn diminish the company’s own returns.
Also, practically speaking, if a company was selling a solution that really was producing 1% ROI daily, they would be shouting it from the rooftops. There would be no better customer acquisition strategy than to show the proof to potential customers.
Any objective person with any common sense can see the reality of companies like USI-Tech. They can’t really produce the trading results they claim, but they can sure sucker a lot of other gullible people to give them their money that want to believe the story of easy money.
This is they typical spin for all these cryptocurrency scams that claim superior solutions for bitcoin trading, bitcoin mining and arbitrage trading.
Just think about it. If it really worked then why are they not doing it themselves?
“Greed Blinds Many Eyes”
There are many legal, business and technical reasons why USI-Tech, like many others, is an illegal scam. But initially they just don’t pass the common sense smell test.
Not that I disagree with the thrust of what you’re saying, but you seem to be saying that if the tech was real, USI-Tech would keep it to themselves, and that if the tech was real, USI-Tech would be shouting their trading results from the rooftops. It can’t be both.
I never know why people say about scams “If it really works why are they not doing it themselves”. Have you ever asked a USI-Tech scammer “Are you using it yourself”? Because I guarantee they’ll say “Of course I am, I’ve got all my money in it, I’ve got my kid’s college fund in it, I’ve got my dear old ma’s money in it, that’s how much I believe in this product”. They’re liars, they can say what they want. They may not even be lying either, not if they could get a commission by recruiting their dear old ma.
Good question Malthusian, If the solution really works the company would use it for themselves and not sell it to competing traders.
The reps may think they are using it, but they don’t know if they really are or not. They are just making money somehow, either from real trading of from new investor’s money, but they don’t really know.
The second point was based on if they really were selling their solution, they would be showing the results to get new customers.
Thank you for this article… I run a Bitcoin & Cryptocurrency podcast and I realized that I haven’t done an episode yet on scams. As a result, when I heard about this USI-Tech scheme, which to me has the markings of a scam, I decided to sign up for one package $60 so that I can get a front-row seat to the eventual implosion.
One thing we need to keep in mind, however, is that since Bitcoin is so hyped up right now that means there are a *ton* of new people coming in looking to get rich quick.
As a result, if the on-boarding of new patsies is able to continue for longer than normal then that will postpone the inevitable collapse. However long a typical ponzi or pyramid scheme lasts, this one may be able to last multiple times longer.
What’s sad is that many of the people getting involved are simply poor or desperate people.
I’m just calling out your Math’s I mine bitcoin if they used that money to pay for large cloud mining or there own equipment they could generate that return and some very easily it’s actually scarily close to the return on investment on cloud mining sites.
So if they are focusing in that area these returns are feasible as i achieve 46.5K return per year an 30k of equipment after 14.5k of power bills the bigger your equipment investment bigger the margins so if this is there game im saying feasible. but i will stick to my way.
So why not provide evidence linking ROI payments to bitcoin mining? And why share the ROI profit at all?
And you failed to factor in referral commissions into your math.
Ultimately what USI-Tech can and can’t do is irrelevant when all they’re doing is running a Ponzi scheme.
Oz is absolutely correct here!
If they really could generate the returns they claim, they wouldn’t need to share it with anyone.
And if they did choose to share their secret formula because of some “philanthropic desire”, They would provide evidence linking the ROI payments to the bitcoin mining.
But they don’t… instead they take advantage of the uninformed public blinded by greed.
Clearly, you failed to heed the warning when even the top Bitcoin developer said cloud mining is likely a ponzi scheme.
So how many years are you in on doing that? Sounds like you losing money already!
The latest info from the USI-Tech Ponzi Conference in London: prnt.sc/h33zeh
Screenshots from the conference:
Too much “will be” to take any of that seriously.
Did they disclose the $70 mill contract yet? *crickets*
95% more efficiency at WHAT? Anyone with a modicum of scientific knowledge wouldn’t believe that claim. Innovations of that scale and depth do NOT come out of the investment sector, much less from a company infested with career fly-by-night con artists.
All I hear is a bunch of PR copy not based on reality.
Bull****. BitcoinATMRadar, which tracks Bitcoin ATMs around the world, only document 1733 such across 58 countries.
This bull**** announcement was IDENTICAL to the bullpoo Gemcoin followers were sprouting when there are NO Gemcoin ATMs (the two ATMs inside Gemcoin HQ are regular ATMs with a new piece of plastic header)
Really, and Tesla or GE or other companies didn’t pay them a billion bucks to buy them out if they can improve power generation by 95%?
It’s just a bunch of bull**** claims with NO PROOF ANYWHERE to back them up.
Companies nowadays can promise the sun and the moon, and a bunch of idiots will believe them without any fact-checking or skepticism. Press release is cheap.
And when has an MLM ever, I mean EVER, lived up to its promises regarding the product?
Sure, heavy recruiters aka scammers, might make some money, but I am talking about the product or service that is “Going to take the world by storm”.
Humans are so gullible and keep believing these scum who are selling dreams.
What the f*ck is that “95% more efficient” supposed to stand for? If we start with the fact that a hydroelectric power plant can transform 90%+ of the potential energy of water to electricity with “traditional” magnetic power generation…
Are they 5% better in producing electricity (i.e. 95% efficiency)?
Or did they reach 99.5% efficiency (i.e. 95% less energy wasted)?
Or are they actually able to collect 175.5% of the potential energy (i.e. “95% more efficient”)?
For the purpose of decreasing the mining costs this implies they have managed to generate electricity at a cost that is 0.05 times what electricity normally costs for a consumer. But the margins of electricity producers are far from the 95% that would be needed for this making sense (considering the existing efficiency of power production).
In short: any electricity company would pay literal billions for that invention – they could multiply the financial profits they are currently making!
Wow! USI Tech now has their own coin… 500 million of them! I am now convinced that this is LEGIT… a LEGIT scam.
Just another “product” to get another influx of millions of $$$ from all of the gullible suckers out there to keep the current suckers happy. WAKE UP PEOPLE!
They’ve built a 1000 square mile wind farm composed of solar panels and hooked into potatoes. 🙂
Scam MLM Coins are an EPIDEMIC.
None of them have any utility. They all talk about what they are going to do in the future, but they never deliver and always collapse eventually… YoCoin, Gladiacoin, JetCoin… Who’s next?
OneCoin, CoinMD, USI-Tech, … It’ a never ending list. Oz has already reviewed and revealed over 65 MLM Crypto scams here on BehindMLM.com.
The have no retail products or services to deliver value to the marketplace. They claim some secret method of generating profits from mining, trading, or commerce, but they never provide any proof.
It always turns out to be a Ponzi scheme and a Pump & Dump. Their coin price usually starts going up from price manipulation or speculative trading, but quickly crashes from the same speculators looking to sell out for a profit. The Ponzi schemes always collapse when the recruiting slows down due to limited new investments to pay old investors.
The underlying problem is the demand for these get-rich-quick scams from people’s greed and their ignoring of the “Too Good To Be True” principle. Unscrupulous con-men will gladly step up to satisfy the demand. It will never stop. Good people are sucked in to these scams.
Too many times I’ve had people try to convince me that one of these scams is a good deal because of all the money people are making. There is a lot of money to be made in illegal and illicit activities like drugs, human trafficking, kidnapping, bank robbery, etc., but that does not make them good opportunities.
The real test of a legitimate good opportunity are the business fundamentals. Do they have real retail products or services that the public needs wants and is willing to pay for, that delivers value to the marketplace? Very few can answer these questions positively.
What most people don’t stop and think about is that when scams collapse a few people may make a lot of money, but the vast majority of people lose all their money. Unfortunately a lot of the people that lose all their money were desperate in the first place and could not afford to lose their life-savings, retirement fund, or their house.
(Ozedit: Unverifiable marketing hype removed)
I want to hear some facts, and not just “where’s the proof”… (Ozedit: Snip, see below.)
@SRL I want to hear some facts too.
If all you’re going to post is a mountain of hypey marketing “we’re gunna do this and that” BS without any proof, don’t bother.
horst jicha has gone and created Free Energy, the long dreamed of holy grail of physicists!
maybe he stuck a windmill on his yacht and fed it some champagne and some arti-barfi-cial intelligence and voila!
horst jicha: all the friggin scientists in the world couldn’t create free energy, so i just hired some AI to do it for you, you lucky people. now send me all your money!
ps: whats with the ‘artificial intelligence’ plug going on here? don’t tell me this is going to be the newest ponzi ‘buzz’ crutch moving forward. aaargh.
erm ^^ i kind of overstated that.
y’see, truth be told, All horst jicha did was to go out and hire the bestest greatest scientists [one of whom is called either evan aherne or alan ahern or similar, out of las vegas, USA] and now has patented tech for:
– an asymmetric permanent magnet motor [which will create like almost free electricity]
– splitting water to create almost free energy
– reconverting mining heat into electricity with 95% more efficiency than all the other stooopid mining companies in the world
now, don’t be mean and ask why this great innovator and scientist [alan/evan ahern] is joining USI tech as it’s product development manager instead of becoming the richest human in the universe for solving all of the earth’s energy problems! there is a perfect little explanation for this:
y’see, cryptocurrency mining uses a lot of electricity and USI tech needs to solve this humongous problem first and generate huge profits for it’s members, before getting its ‘patented’ cheap electricity tech out into the world and solving humankind’s stoopid problems like food, water, development.
it’s ALL about priorities, so shaddap you keyboard criticizers!
you can hear some of this stupendous nonsense between the 5:00 and 10:00 mark here:
yes, there’s going to be one billion ‘techcoins’ out of which 500 million will be sold to USI tech affiliates in an ICO offering which has already begun.
just like the onecoin crypto scam, they’re going to set up their own internal coin exchange to ‘trade’ techcoins and will go ‘public’ whenever 500 million are sold with no date being fixed.
while the bitcoin packages are offering ponzi ROI passively, this techcoin pyramid is offering recruitment commissions going from 25% to 60%.
techcoin packages start at 50 euros and go up to 50,000 euros, so there’s big commissions to be made by scam kings like rodney burton who is encouraging everyone to ‘recruit like crazy’.
according to this video below, it’s ‘evan ahern’, an entrepreneur who has raised billions of dollars for creating technology and has over 50 companies and who goes around the world picking up the greatest scientific minds and delivering them to horst jicha’s yacht.
you can hear about the great evan ahern between the 5:00 and 11:00 mark in this video:
the photo of ahern provided in this^^ video matches this profile of evan ahern of las vegas on linkedin:
who knew a guy^^ who publicly rents/manufactures construction equipment and does IT solutions, was secretly travelling the world, gleaning the secrets of ‘free energy’ from the worlds brightest scientists!
and these scientists just said – hey evan ahern, couldya please take our free energy tech to USI’s horst jicha and become his product development manager? thanks!
Wonder if they would give the Patent ID number? Why would they not want to put all you USI members minds at ease….
Where in the video approximately? All photos I can find of Mr. Ahern looked like this:
He’s the big guy on the left.
Since it’s a Ponzi scam they will tell they can’t because they don’t want anyone to steal the tech.
That’s of course nonsense, that is EXACTLY what the patents are for, but the donkeys will swallow it hook, line and sinker.
check from around the 7:00 min mark in this video:
‘evan ahern’ was at the london event talking about his new free energy tech and AI. he’s standing in front of a screen shot about AI.
another video i saw yesterday said evan ahern was a billionaire businessman from las vegas.
the similarity of the photos and the las vegas location seem to match this linkedin profile:
the photo you have provided seem to be a heavier version of the same guy?
i’ve written to ahern rentals asking if ahern has any ties to USI tech.
hopefully there will be a clearer image of ahern in the ‘official’ video of the london event which will be published at some point.
How did he hook up with the free-energy “advocate” (read: kook) Tom Bearden? Bearden is consider a kook by real physicists. Bearden advocates the “magnetic wankel engine” which is basically that “asymmetric permanent magnet motor” mentioned in the video.
It’s bull****, of course. How does a construction rental guy hook up with free energy kook, enough to present it in London, hmmm…
if indeed it’s the same guy ie, evan ahern of ahern rentals, then its a bit surprising because ahern rentals and associated companies seem like an old established business.
i suppose the construction related heavy vehicles supplied and manufactured by ahern must be running on electricity generated by ‘asymmetric permanent magnet motors’. funny their websites don’t mention anything about it.
so, evan ahern is giving his new patented free energy tech to the USI ponzi instead of using it himself and kicking tesla and musk off to mars? very kooky guy! strange going on’s here!
95% energy efficiency doesn’t pass the smell test of common sense. If it were true, The world would be all over this invention with billions of dollars, it would not emerge with some little MLM company.
They are claiming this energy efficiency helps them compete with other miners because of their cheaper electricity costs. They’d have to compete against the China miners holding over 71% of the bitcoin hashing power, that have super cheap electricity subsidized by the Chinese government.
Like all these phony claims by these scam coin schemes, if they really had the secret sauce for generating profits with bitcoins, whether it was with mining, trading, or even arbitrage trading, they would shout it from the roof top with undeniable scientific proof, and blow away the competition.
But they don’t and can’t because it’s not true. It’s easier to convince a lot of gullible and desperate people looking for easy money, than to create real innovation.
“Common Sense is a Very Uncommon Commodity”
Did they ressurect Nikola Tesla from the dead? Maybe they have a USI Time machine and went back to the 1800s to pay Tesla in BTC and bring back his tech.
What a genius use of free energy. Instead of using it to solve some worlds problems like poverty, pollution etc, hey lets give it to USI to make their affliates richer.
One question has always bugged me. Can’t these thick gullible sheep work out that they are not getting 1% profit a day, they are only getting back 1% of their money invested per day.
Also did noone tell them that the crypto trading market is 24/7 yet they are only getting paid out 5 days a week. So what happened to the other 2 days?
USI is the pied piper leading gullible rats to their deaths! I give it 1 year before the ponzi starts collapsing.
Investment company that isn’t, no sir. A clean honest crypto involved company that also allows, consists of and promotes known ponzi schemers. really makes you think.
Bobby raises a good point, crypto markets are 24/7. All these schemes requiring bitcoin causes more problems. Good luck carrying out a chargeback. When authorities move in it will be difficult to trace the funds.
You’re handing these jokers bitcoin which in itself is making incredible gains, and they drip drip drip 1% a day back to you.
The coin will be a laugh. The market will have complete confidence in a project that freely associates and promotes the ponzi people.
Do not watch this video at 8:00 or show it to receivers.
Can somebody please explain to me why USI-tech is not getting investigated & shut down by any authorities?
I’m guessing that those losers are going to run off at some point in the future with hundreds of millions of dollars in bitcoin and live happily ever after. It just doesn’t seem right.
This year has definitely gone to the Ponzi scammers on the regulation front. Don’t think we’ve seen any major 2017 busts.
Hopefully in 2018 the SEC catches up to the cryptocurrency train, otherwise it’s another year of multi-billion dollar losses.
I am personally providing research information to the SEC in FT. Worth Texas. They tell me that they have very limited resources and have asked me to prioritize the worst offenders.
The SEC moves very slow and usually doesn’t catch up with scams until they are very large, like Zeek Rewards and OneCoin. They were investigating OneCoin when OneCoin pulled out of the USA.
When these scams start they are small enough to fly under the radar of the SEC. Most of them collapse on their own in 12 – 18 months before getting shutdown. We’ve already seen several scam coins collapse quickly with YoCoin, GladiaCoin and JetCoin.
They always collapse when the recruiting slows down because there is not enough new money coming in to pay the old investors. When they collapse a few people make a lot of money and the vast majority of the people lose everything.
Who are you telling this to?
We all have known this since this site began.
Are you the same person that ran a few scams of your own?
Look in the mirror mr Bob Wood from the CloudZow scam!
you owe a lot of good people money and excuses. do not judge other entrepreneurs that fast!
I am an industry analyst and consultant. I was brought in later by a cryptocurrency company in 2015 to fix their problems after their scamming founder resigned.
The conversation here is about USI-Tech and how they are running a Ponzi scheme like most of the other crypto MLM scams.
Through my work I have a relationship to provide information to the SEC.
It’s really business 101. Successful companies create profits by delivering value to the marketplace to solve some problem or make the world a better place.
None of these scam companies have a value creator. Their primary or only source of revenue is from new investor’s money from hyped-up get-rich-quick stories.
Because the authorities are more interested in helping people who get pulled into dark alleys than those who try to scam others and get scammed themselves.
Hundreds of millions of dollars in bitcoin? Doubt it. Little fleas, “investing” a few miserable thousand here and there, probably no more than a few million in total. Which will soon be spent which is why the organisers will already be on to their next scam.
John, CloudZow was not a scam. It sold legitimate cloud-based backup services in 2012. The owner was a client of my consulting company, Pinnacle, named Robert Carpenter.
Please do your accurate homework before making uneducated statements.
Just noticed something even more hilarious.
That “sHHO Flow Diagram”? About “hydrogen generator”? That’s “run your car on water” bull****. Look up “HHO kit” for car, or go here:
As a USI member doing this business for a living, I take issue with your review. I have met the owners and sat and talked with them one on one on two occasions.
I fired heavy questions of them and they came out smelling like a rose. USI tech does not invest other peoples money. As a matter of fact they don’t except money/currency at all.
If they did, they would then follow the jurisdiction of the SEC and other US laws pertaining to money.
Bit coin is not money it has been labeled by the IRS as “property” And only text when it is sold and converted back into Fiat currency.
They do not guarantee 1% per day as you claim, but rather return principal and 40% interest at a rate of an average of 1% per day or however many days it takes to return 140% of your purchase. Notice, I said purchase not investment .
Regarding Kevin Thompson, he was hired in May as a consultant to review the company and report back to the owners what they needed to change to become compliant in the United States.
Kevin gave them a list of eight things that needed to be changed. Saying, “if you will change these 8 things, you will have the SEC for lunch “
As you know, a Ponzi scheme is when new money coming in is used to pay old investors. That is not the case here. USI-TECH as well diversified. Crypto currency trading is only one avenue of income.
They are on their way to becoming the number one miner of bit coin in the world and have investments outside of crypto currency as well . Horst assured us that they are very well diversified.
He expects this to last about 4five years before many countries will create some kind of legislation to Kurt tail the spread of bit coin.
They are planning now with other financial products to be able to serve their members if and when that ever happens.
They are forward thinkers and preparing for the worst so that those who have placed their trust in them will not be let down.
Next time, before you write your negative rhetoric about a company, do your homework first.
A Ponzi scammer in denial objecting to his scam being called out for what it is? Yeah, no surprises there.
Heavy questions hey? So uh what, you asked them about their weight? You clearly didn’t ask for evidence of external revenue or any of the BS claims surrounding USI-Tech.
A security is a passive ROI, which is exactly what USI-Tech offer with their bitcoin Ponzi packages.
Claiming bitcoin isn’t money is irrelevant pseudo-compliance BS. The SEC has already filed litigation against two bitcoin related entities (non-MLM).
Again, pseudo-compliance BS. (And it was 1% a day, no matter what it might have been switched to since).
A Ponzi scheme sees a scam use newly invested funds to pay existing investors a ROI. Timeframe, how much per day, none of that matters from a regulatory standpoint.
Yet no audited proof of any trading or mining revenue correlating with affiliate ROI payouts exists.
And that’s ultimately what USI-Tech comes down to. Ponzi scammers reassuring their investors they aren’t running a Ponzi scam.
Because y’know, it’s not like every Ponzi admin claims this until a regulator steps in and it’s certified otherwise.
Homework done. I don’t know about rhetoric but it’s a fact the only source of revenue entering USI-Tech is new affiliate investment. The use of which to pay a ROI makes it a Ponzi scheme.
There’s a reason so many veteran MLM underbelly Ponzi con artists have flocked to USI-Tech. 1+1!=3.
So USI-tech is not registered with the SEC, right? So I’m guessing the following video is just a bunch of lies being told?
You can verify yourself USI-Tech is not registered with the SEC through a search of the Edgar database.
Just looking at the title of the video tells you it’s bogus. No US regulator “confirms compliance” of any MLM company.
I actually find it very sad to see the amount of people that are throwing tens of thousands of dollars down the drain. There’s a growing list of posts on the CryptoAlchemy facebook page that show amounts between USD$11000 and USD$90000 being spent on the new USI coin packages.
And was there ANY PROOF that USI-Tech implemented ANY of them?
Also keep in mind, Kevin Thompson is a MLM lawyer. NOT a securities lawyer. KT’s review is NOT for SEC compliance. Since USI now is offering securities (go look up Howey test yourself) KT’s review is no longer relevant. It never was, just trying to borrow KT’s name to make you drop your guard.
the majority of the posts above are pure IGNORANCE.
1. Only have to register with the SEC of you are selling Securities and securities have to do with MONEY/CURRENCY/DOLLARS, etc. USI-Tech, at the instruction of Kevin Thompson, does not accept money. They only take Bitcoin IN and give Bitcoin OUT and Bitcoin is NOT MONEY. According to the IRS, Bitcoin is considered PROPERTY and does not fall under the jurisdiction of the SEC or FTC or Banking laws or any laws Congress wrote that govern Money or securities, etc.
2. Kevin was consulted back in May, 2017 to look art USI Tech and tell them what needed to be changed to be 100% compliant with al US Laws. Kevin’s Legal Brief contained 8 things that had to be changed. His words to Horst were, “If you change these 8 things you will have the SEC for lunch.”
3. USI-Tech changed those 8 things and then were then studied by an SEC attorney firm in Chicago who wrote a brief in August saying they were 100% compliant with ALL US Laws.
4. USI Does NOT trade other people’s money. However, they do have an international trading license that allows them to do so should they decide to go that direction.
5. USI_tech sells a legitimate product…. called a BTC pack that costs €50. This satisfied the FTC’s requirement to provide a legitimate product i exchange for compensation.
This blog should be SHUT DOWN because of all the UNTRUTHS and IGNORNCE portrayed here.
False. Securities are a passive investment – what currency is involved is irrelevant.
The IRS don’t regulate securities. What they consider or don’t consider bitcoin to be is irrelevant.
Running Ponzi schemes is not “100% complaint with ALL US Laws.”
USI-Tech doesn’t trade fullstop. There is absolutely no evidence of any trading whatsoever taking place, or tied to affiliate ROI revenue.
Unregistered securities are not a “legitimate product”, by the FTC’s standards or any other US regulator’s.
Regurgitating Facebook horseshit on here doesn’t make it fact. Either back up your assertions with facts or spambin.
Thanks for your demonstration of your ignorance, and your failure to follow advice. In the US, security is defined by the Securities Act, AND the Howey test, which I told you to look up earlier. Your excuse was exactly what lead to the creation of the Howey test in the first place.
Speaking of ignorance……………….
David, David, David… if ea6af34e.usi-tech.info was yours, it looks like someone nuked your account “positivedavid”.
Screaming over having gambled everything and lost enormously, perhaps?
the howey test, which is the legal test for securities in the US, was based on a case in which investors were leasing their land [property]and earning a passive ROI from it.
any kind of investment on which you receive a return not by your own efforts, but that of a third party, constitutes a security.
you are very ignorant.
1] USI advises it’s affiliates to tie up with specific brokers with whom they have contracts. this is investment advice and hence they should be registered with the SEC.
2] the brokers USI tech uses, ie argusFX and pure markets, are NOT registered to offer services to US citizens. hence usi tech operations in the US are illegal.
3] till date usi tech has not provided any proof of its trading. there was talk that the london event on 28th oct would bring complete transparency and trading proof would be provided.
several videos i watched about the event don’t mention any trading proof. one video actually said that details about the trading would be provided after a couple of months. so, goalpost shifted once again, no transparency, and the claims of ‘trading’ are just bullshit.
since david is a sucker for usi tech’s nonsense, it’s possible his elation about usi tech’s free energy magnet and water splitting expertise has him in a state of elevated suspended logic. as trump would say – SAD.
I was (Ozedit: attempt to speak for the US government without supporting evidence removed. General Ponzi BS that does not address the facts pertaining to USI-Tech’s business model removed.)
2017 – The year when any dumbshit who invests in the latest bitcoin Ponzi thinks they’re a securities expert.
I said I would not write here anymore but…FYI – I just bought my plane ticket to the Dallas Event this coming Friday and Saturday where 2 off USI-Tech’s Owners will be present. This will be the 3rd time I have had face to face, one of one conversations with them.
Is there anything you would like me to ask them for you? Any info that you feel is important to get direct from the owner’s mouths?
By the way, the 4X trading software is no longer being offered. It is being replaced by €50 forex packages that we can purchase in exchange for receive the same returns as what the software had produced in the past 4 – 6% per month. Should be available by the end of the year.
Interesting that you said the broker is illegal in the US. Again, Attorney firm, Hart David Carson’s report said the complete opposite. I’ll take their word for it.
Sure. Ask them for audited accounting showing trading revenue is tied to affiliate investment.
Aspen will be sooo embarrassed when she’s grown and sees what a maroon her grandpa was, Dave.
refer to comment#28 in the thread:
That’s settled, then.
We all know fraudsters are anonymous, never lie and wear black hats and masks.
Charles Ponzi, Bernie Madoff, Andy Bowdoin, Paul Burks, anyone ???
will they please please please share their free energy magnet and water splitting magic with the world? pretty please??
Since nothing they said can be verified by trust-worthy third-party, not really.
What you perhaps, fail to appreciate, is being a “business owner” and make a ton of promises to a bunch of people in a room doesn’t make the person trustworthy.
Maybe I can make you consider this one question: I simply call it the “make sense test”.
If USI-Tech **really** have technology that let them generate “virtually free” energy to run Bitcoin miners with… Why don’t they just sell that tech for a billion bucks, rather than take YOUR money to and pay you back a wee bit at a time?
It doesn’t pass the “make sense test”, you see.
“…insert anything here that David has said”
David, thank you so much for clarifying something for me.
When I first read about USI-tech I literally couldn’t work out how people could be so blind (dumb) to invest money into such an obvious Ponzi scheme. After reading all your comments I now understand fully! Everybody (especially you) is either completely stupid, completely brainwashed, or completely gullible, or most likely a combination of all 3.
There’s really only one question to ask the owners of USI-tech when you see them. Ask them where they’ll be hiding when the authorities close down their scam. There’s going to be a LOT of people hunting them, including you 🙂
@David Why don’t you ask for the Patent ID for their new technology. This should be public domain. But i really cant find it anywhere. Seeing as you see them so many times… they should give you this info right?
Stocks are issued by legitimate companies. These companies are heavily monitored by the Media and the company reports also presented to the investors and the public for viewing. So that they are aware what the companies are doing with their money.
The money invested in them are used to expand their business, is basically you lending them the money and in return they gave you back some rewards like the money earned and certain bonuses to show their appreciation and support.
When these companies are in trouble, they will make sure the share and stock holders are safe first because it is their best interest to make sure they do not let them down.
What USI-Tech is lacking now is information and legitimacy, so don’t jump into conclusion without understanding better.
The fact that you asked this question and trying to relate this to a scam is already an insult to the system of stocks, share, bonds and etc. I’m sorry to say but your finance knowledge needs more work. Peace~
Yeah ask about their free electricity system lol!
A better question is why is USI Tech using some attorney in Chicago that was well known to send out letters for Ponzi scheme such as My Advertising Pays?
(Yes, it’s the same lawfirm, known then as “hart & david”)
It’s pretty clear that Hart David Carson will write stuff that didn’t amount to anything if you pay them enough.
When MAP sued Taratalks, it was pretty obvious MAP have no jurisdiction. It’s just so MAP can look good to its followers, so it paid $$$ to have them file a lawsuit (Back then it’s just “Hart & David LLP”) and it was dismissed quickly. MAP have since collapsed and already tried to reboot itself under a new name.
So, if Hart David Carson (successor of Hart & David) wrote a new opinion for USI-Tech, I personally would actually *read* the opinion itself, rather than rely on anybody else’s “summary” before you accept it for what it’s worth (which wouldn’t be much).
So my friend is trying to convince me hes turned $1200 into $21,000. Unfortunately hes still in his 140 day period and cant show any real proof.
If he gets his money out I’ll let you guys know but I still feel its a scam. Just a dirty, greasy scam.
If your friend manages to “get his money out” that doesn’t disprove USI-Tech is a scam. It merely means your friend has succesfully managed to scam people who joined after him out of his initial investment.
Ponzi schemes are scams from inception, not just from when they inevitably stop paying out.
Obviously your friend has signed up a bunch of people to USI? If not, it wouldn’t be possible to turn $1200 to $21000 if he’s within his initial 4 months.
WOW!!!! This is the fucked up mentality we’re dealing with. A USI-tech ‘investor’ (sucker) literally wrote the following on the USI-tech Facebook page today, in response to somebody who was trying to warn them about USI being a Ponzi.
I mean, what the fuck kind of idiot compares USI-tech to K-Mart??!!
Quite a few. You won’t usually see the scam excuse cliches here though as I typically nuke them.
You are totally right!
If you search for “USI-tech” on the SEC website the first result is a 3 page PDF warning of Crypto ponzi schemes. “Warning bell going off bigtime”.
Seems like there are “Scam Surfers” people who realize these things are scams, and get in recruiting fast and furious, and find ways to get payouts are quickly as possible (one person in USI is using his ROI (the bitcoin that shows up in the account as part of the return) to buy Bitcoin packs for other members – and they pay him directly in whatever they can pay (bitcoin or cash or whatever). He’s cashing out by recruiting…
The Scam Surfers actually believe the product is legit (or do they?) – seems they do because instead of using the clever cash-out trick above… they put most of the money they got out right back in!
The fact that every Bitcoin Package USI tech “sells” locks ‘money’ back in, and that every member is just locking in their ROI every time, it gives USI-tech a really nice 140 days (plus weekends inbetween) of lead time on when the Ponzi is about to collapse.
they just keep the software running, everyone keeps rolling more money in – and it takes the better part of a year for each package to pay out, and in that time, they see the compounding opportunity – if they keep reinvesting everything they end up with way more money in the long run, so why payout?
Paying out ends up being a waste. There is also a transaction fee to pay out, so gotta keep those payouts to a minimum.
Justification for it being a scam? Well I’ll get out in 2 years, 3 years with a big sum of money. << problem with this… that's someone else's money… A lot of people are going to lose a lot of money.
Some of the investors are getting many multiples of 140%, they'll put in 10000 euro, and the return is 1 btc pack a day (which is always 50 euros) and in many cases more than that – because bitcoins value goes up, so 50 euros worth of BTC goes down.. (less bitcoin for 50 euros, but since the 1% of 10000 Euros worth of bitcoin a few weeks ago is actually 100 euro worth… you could but 2 more backs… anyways… it's quite the web…
The numbers add up in the favour of early investors that invest a lot, and even better for recruiters, which is many many many people.
They also require identify verification for payouts. They keep changing features – changing the MLM payouts, changing how the rebuy works (at one point you could only payout or rebuy… and since rebuy is 'the best way to make money fast…' everyone rebuys.
It states in their terms of service (or some similar document) that you cannot refer to USI as a ponzi scheme… kind of hilarious, who needs to write that into the terms of service?
If they can keep the payouts down to a minimum, they could keep this scam going for a long time…
The addition of "Tech Coin" is ridiculous. Great way to ensure everyone spends on something that will be worthless, and maybe they can create some scheme to explain things when it all collapses… 'Our Tech Coin failed' and then somehow they can still payout a whole bunch of bitcoin..
you don't even pay in euros… you pay it all in bitcoin.. the bitcoin seems to sit for a while when you buy a package, and then flows over to Poloniex (or other places), and then I have no idea where it goes after that..
In your initial post you mentioned that of the four declared owners of USI-TECH that Horst Jicha is the only one who seems totally clean: he was managing director at Primion Technology AG.
You know this how? Just because he said so in a YouTube video? Funny how when you put his name in Google and nothing comes up except all his videos of USI-TECH isn’t it. No biography link or profile link, zero, zip, nada, nil, none.
Rather odd for a person who said they were the managing director of Primion Technology AG don’t you think? Wonder what the company would say if they were asked if he worked for them? You might want to try contacting them for yourself to see what they say. Just don’t be surprised at their answer.
A simple google search of the company and his name brings up his past.
Lyyndel, you mean such as this? Lol
One article from almost 16 years ago. 🙂
It might actually help if I spoke German, but there really doesn’t seem to be much of a digital footprint beyond USI-Tech.
All I have seen so far is that article Moondog posted, which is very old and was a position he was gone from nearly 15 years ago, and a position at GEZE GmbH which announced in a press release from September 1, 2014
So it looks like he’s basically a salesman with a computer degree.
What are your thoughts on USI-tech’s mining facility shown here:
(Ozedit: Marketing spam removed)
My thoughts are stock footage compiled into a marketing video has nothing to do with USI-Tech affiliate ROI revenue.
You want to provide independently audited reports showing mining revenue used to pay USI-Tech affiliates a ROI? Then we’ll talk.
It’s worth pointing out news release are completely worthless as they are NOT vetted for accuracy. Whatever the companies put in, they are printed “as is”.
Companies can LIE all they want on the news release with ZERO consequences. WorldGN has a press release back in January 2017 that they have glucose monitoring tech in their HELO watches. They still, to this day, have no such thing.
It’s only when the lies affect stock prices that things get interesting. Fake press releases have caused mass sell-off before. Emulex hoax in 2000 in the US, and Vinci SA hoax in 2016 sent both companies’ stock tumbling.
Wow. Glad I came across this as I was just about purchasing packs.
Does this mean there are no legit businesses one can do to earn extra income?
Nope. Only that USI-Tech’s bitcoin packs are a Ponzi scam.
The laws of mathematics and economics dictate that delivering the 140% or even 1% a day ROI as is being offered by USI-Tech is unsustainable and certainly not from “legitimate” sources, which means your question is moot.
There are plenty. But generally, they require you to do some actual work, or do your proper “due diligence” if you are investing. And that has nothing to do with USI.
USI’s claims are so bogus, they fail the “does this even make sense” test. If they can generate “virtually free energy”, they could have sold that for bajillion bucks. Why mine Bitcoins with it?
So recently they shifted the story… Someone “gave” them the patent. Yeah, right. Someone gave me a time machine too. 😛
I’ve just had a look at the alexa rankings for USI-tech. It appears they have peaked and gone down very slightly.
I know that this likely means that less money is entering the scheme now. Is it possible to predict how long it will be until the whole thing collapses?
I am guessing that the top investors and those with the huge teams will see the signs and withdraw their money which will hasten the collapse, is that how it works?
I am absolutely certain that those higher up in the scheme know it’s a ponzi and know they can make a huge profit if they get their money out in time, at the expense of those they bring into the scheme. It’s sickening.
No, so kindly stop asking.
It is difficult to predict. My thought was that they magically created and are selling 500 million “tokens” to help keep the scheme propped up for a while longer.
How long? My guess with this new cash influx is that they could last another 12-18 months… but they could also be shut down sooner in the US, which could make it completely collapse sooner.
Just stay tuned… and stay OUT of this mess.
This is the first time i’ve ever commented on your site, i’ve never asked a thing before, or is this a question you always get and are sick of having to give an answer or in particular a “No” answer to? Sorry.
I have read on here before that generally a Ponzi starts to collapse a little while after the Alexa ranking plateaus, hence the question as it would seems possible that is what it is doing.
I live in the UK and have watched many network marketers turn to USI-Tech and I have been asked to join myself, i’ve never been in network marketing, I was just approached.
Obviously i’m the bad guy for telling them it’s a Ponzi and they will lose their money and the money of all the people they are recruiting.
There are current problems with packs that have been paid for not showing in accounts, withdrawals not working and the money being returned to the USI account instead of being withdrawn, and accounts not being able to be accessed.
From what i’m seeing with the magical tokens, people aren’t as interested in them as i’m guessing USI-Tech thought they would be.
A rather large group where USI-Tech investors post that I am able to see don’t appear to have any interest in the tokens at all. It’s all about the packs, and all of the things that are currently going wrong and that customer service will not respond.
The higher ups don’t appear to be pushing the tokens either, as they never mention them, not even when they are asked a direct question about them. Most people appear to only have the free ones that are given when they buy packs. I’m guessing the higher ups don’t get any kickbacks from those under them buying tokens.
Apologies if it’s your first time asking the question. Someone asked the same question not even a few days ago and the name sounded vaguely familiar.
Turns out it was a Linda who asked – https://behindmlm.com/mlm-reviews/bitcase-review-three-tier-bitcoin-investment-ponzi-fraud/#comment-390072
My hostility towards the question is due to dumbasses acknowledging a Ponzi is a scam and then trying to gauge whether it’s too late to invest. This isn’t the place for that.
With respect to MLM Ponzi schemes collapsing, Alexa traffic estimates in decline is a good indicator of recruitment activity slowing down.
Every MLM Ponzi needs non-stop recruitment otherwise they eventually run out of invested funds. Exactly when that happens is impossible to predict, but as a general rule an MLM Ponzi scheme collapses within two years.
Scams like USI-Tech that reinvent themselves with reboots last longer.
Bitcoin pack style Ponzis are pretty common in the MLM underbelly at the moment and so that’s what the scammers have flocked to in USI-Tech. As long as they keep paying out they’re not going to shift.
The next step in the Ponzi cliche play book is launching a worthless altcoin ICO, which USI-Tech appear to be well underway planning.
I’ve been following quite a few online MLM venues over the past 3+ years and got to “know” several of the heavy hitter online marketers personally or through checking into their offerings.
I noticed USI Tech emerging in the spring of this year, I didn’t pay attention. Then a few months ago, a group of marketers I trusted so far for their integrity jumped on the bandwagon after the company ‘declared they were legal’ in the US.
The lure of easy money has a very strong appeal; theme was most prevalent. I’m watching them jump through hoops unimaginable to recruit as many “ignorant” and gullable ppl as possible under the pretense of investing to receive a predictable return.
Mind you, they do advise publically that “investing” is at your own risk, don’t invest money you can’t afford to loose and that there are risks involved and no guarantees.
It baffles me how many marketers I’ve trusted and who I’ve come to know for their ethics and track record have succumbed to this vice. And yes, there are ppl who are driving Lambos now, some are making 250k, some 20 and 50k per month.
When this thing topples, it will be huge!! And hopefully a wake-up call to anyone else ever attempting another fraud scheme of this magnitude. And of course the “leaders” at that time will claim that well, I told you all to be careful”, blablabla.
I’m telling you: ALL of these so-called leaders know exactly what the deal is, they just decided to go for the money. THE LIE IS THE BIG ELEPHANT IN THE ROOM.
And big money, it is still today. Will they be able to sleep well at night when it’s all said and done?.. I know I wouldn’t.
My parents told me a fool and their money are easily parted. USI Tech understand that phrase very very well
Does anyone know who the accountants and external auditors for USI Tech are. Hahahahahahahaha. I just made a joke.
The issue of “full transparency” intrigues me. Will it include details of members money in, members money out, liabilities owed to members and reserves held. And will this be certified by a global auditing firm?
Me thinks not, because you would see their bare backsides
It’s amazing how people on this forum keep saying they have heard the USI Tech leaders speak at their conferences and how gullible they are.
Don’t any of them have any accountants who will give them sound advice. Wait a minute the accountants can’t give any advice. There is no certified paperwork.
Not disputing that it’s a ponzi scheme, but giving third party audits/auditors any more weight than third party legal advice is not altogether consistent (Arthur Andersen anyone?).
Both are opinions expressed by professional practices/partnerships presumably based on professional standards and regulations.
Sure it is. Lawyers go over whatever marketing BS is supplied and put out a paid opinion based on that marketing BS.
Accounting auditors, reputable ones, will go over the books and verify external revenue claims. They won’t broadcast to the world if they don’t find any, but you’re not going to see a reputable auditing firm lie about external revenue.
And they did so because when it collapsed, they can blame USI “we were deceived”.
Makes you wonder if they got any under-table “incentives” to jump ship with their “integrity”? Ludbrook guy would be a great example.
Here is an easy litmus for programs like this, regardless how much leaders are making, regardless of how many positive legal opinions they have, regardless of the legitimacy, they put on display.
If they offer ROI combined with a compensation plan its gunna die usually well within 3 years. ROI offered with comp plans dont mix.
ROI means, give all the money back plus some.
Comp plans, mean give at least half the money back.
It’s a triple whammy.
These programs are like the low life people who would rob things from the dead people killed in a horrific bus accident before the police arrive.
Love of money is the root of all kinds of evil. On the other hand, some deals are too good to be true, and some too good to pass up.
I applaud you for this blog. Before reading it, I was ready to invest in USI Tech.
The key for me is the audited accounts. If they are making profit using crypto mining, or FOREX trading, or crypto trading, why is there no audit trail, certified by a CPA? One month even?
That said, what are (Ozedit: Solicitation of investment advice and offtopic derail attempts removed)
They’ve been promising proof of external revenue since May IIRC. Nothing yet, because it doesn’t exist.
Obvious Ponzi fraud is obvious.
An excellent question, but you would be remiss if you also didn’t question network marketing and the dirty scumbucket pimping thieves who promote this. (Maybe you have)
This is the easiest red flag to identify and doesn’t require an audit or any knowledge of Forex or cryptocurrency. All distractions like the magician who diverts your attention.
I guess he won’t be here to say what he asked or what they said.
I am sure they told him EXACTLY WHAT HE NEEDED TO HEAR.
People that talk to me are all about the CON of getting you to make a big deposit.
Ok, so I’ve dabbled in USI-Tech a bit, just to test the waters. There are certainly so many red flags out there, that the thought of them being shut down by the SEC, at any given moment, is a very real and possible situation.
However, it does appear that they are doing actual forex trading, and have been since they went live a year ago. Here are their stats (feel free to delete the link if you like, but here it is):
Note: you have to copy the link into your browser. If you just log on to fxblue.com you will need a username and password.
If there’s someone out there that can look at this information and provide an honest assessment, I would appreciate it. I’ve tried to analyze it for about an hour, and this is my takeaway.
1) They are trading
2) They are receiving a positive return on their trades/investments every hour, day, week and month
3) If they have a software program that is able to maximize gains and minimize losses, it appears to be working
Observations and Question Marks:
1) It appears that they are gaining on the forex market, at the rate of .5% per week, and about 1.75% per month. This is equivalent to about a 21% gain per annum;
2) At this rate, the stats screen shows a “zero” risk, as they have never experienced any level of losses for any period of time;
3) HOWEVER, I am not seeing that the levels of gains they are experiencing can keep up with the payout of 1% per day, which is in the range of what they are committing to their “investors”;
4) Also, it doesn’t look like the amount of money that is being committed to Forex trading accurately reflects the amount of money that they are receiving on a daily basis. Nonetheless, they have stated they are heavily investing in other areas of the market, such as mining, ATM’s and power generation, so…..????
With that said, their ‘stats’ can demonstrate a bit of proof and a bit more transparency that they are not just taking everyone’s money and doing nothing with it.
However, based on the numbers I’m seeing, I don’t know if it’s enough to fend off an eventual collapse, and if so, when?
I can address some of their other claims, as well, in future posts, but this is the big one for right now.
What are your thoughts?
P.S. If you click on ‘Excel’ on the Stats screen, you can download their forex history on a daily basis. It clearly says “USI-Tech”.
P.P.S. If you feel the above link is a breach of proprietary information, then please delete it. I honestly don’t know.
Someone brought up the FX Blue account before, so I’ll repeat to you what I said then:
Further to that, token trading does negate or legalize the use of newly invested funds to pay off existing investors.
Of course not. If they were able to legitimately generate that they wouldn’t take on the risk of running an online Ponzi scheme.
Same as any other Ponzi scheme: When early investors and those with the biggest downlines have withdrawn the majority of funds invested, USI-Tech management try to make off with the rest and kaboom.
This is what I call a Hybrid-Ponzi. They may actually generate revenues from a legitimate source, but nowhere significant enough to generate the promised ROIs.
This gives the illusion to most people that they are legitimate, but in reality they still are a Ponzi scheme that has to pay the vast majority of the ROIs from new investor’s money.
Also factor in that a significant percentage of the revenue is paid back out in MLM sales/recruiting commissions and bonuses, and is never leveraged for trading gains.
So, if 50% of the revenue is paid out in commissions, and they are promising a 1% daily ROI, then they in fact have to generate at least 2% daily from the traded funds just to deliver the promised ROI. And that doesn’t include money to cover operating costs and profits.
This Hybrid-Ponzi scheme is used in trading, mining and arbitrage schemes. They may appear to have a real revenue generator, but in actuality, nowhere near their promised ROI.
Thank you, Oz and Bob for making excellent points. I’m lousy at recruiting people, so would never make it in a pure MLM world–not a fan of any type of pyramid structure.
Thinking out loud, I wonder how even companies like Amway, Shaklee and Mary Kay passed the muster.
Now that we’re in the day of cryptocurrency with schemes popping up on a regular basis to take our money, are there any legitimate opportunities out there?
Who, dealing with cryptocurrency, has registered with the SEC, and has a platform that deals with gains and losses, instead of just exorbinant gains? I’m not aware of any.
Free “zero point” energy has been around for decades (searlsolution.com), but the petroleum industry has done an excellent job at preventing it from reaching the market, especially in the US.
Magnetic Electric Generators (MEGs) are on sale in AT LEAST Canada and the Phillipenes, if not elsewhere, they cost about $2k and work forever.
Splitting water molecules to access the hydrogen is already in use in the automobile industry as well, just not in the US.
I think that perhaps USI-Tech started out on the wrong side of the tracks, but the leadership has re-steered it to be a major player in the crypto currency world.
USI Tech Revenue is created by automated trading, the packages, the ICO, selling patented fusion energy, and soon the 3 million crypto ATMS and the crypto exchange.
I’m as skeptical as anyone, but the new USI-Tech model is exciting, visionary, and above-board.
Anyone care to comment on how they will make the $10 million per month payments on the secret contract for hashpower. Obviously not from token sales.
What if the contract with the secret mob was actually a contract with associates. Lovely way to cream off more funds.
To date I have not seen a single MLM cryptocurrency opportunity that isn’t a Ponzi scheme. None of them are registered with the SEC (for obvious reasons).
How? By running a run-of-the-mill bitcoin Ponzi scheme?
USI-Tech started as a pyramid scheme and now it’s gone full Ponzi. It hasn’t left the MLM underbelly, so to speak.
Yet you can’t provide any evidence linking any of these claims to affiliate ROI payouts.
You might as well be claiming USI-Tech generates ROI revenue by selling lots of golden unicorn shit on eBay.
No, you’re clearly not. USI-Tech is clearly fraudulent to anyone who conducts even the most rudimentary due-diligence.
We’ve been tracking MLM crypto Ponzi schemes for over two years now. There’s nothing “visionary” about bitcoin investment fraud.
And I just wanted to comment on this:
The internet e-commerce marketplace makes 1980s conspiracy theories like this redundant.
If someone was legitimately selling free energy it’d be trivial to ship it to the US or anywhere else in the world. The manufacturer would be a billionaire overnight.
Further reading: reddit.com/r/askscience/comments/lmq3w/searl_effect_generator_does_it_actually_work_is/
@Meg 3 million crypto ATM’s. The USI guys arethinking how much crap it’s dumb supporters can accept at one time.
I just asked Mr Google how many ATM’s there are in the world. Have a guess what the answer is.
USI are going to duplicate the number of ATM’s in the world. Hilarious. Their chief marketer must be on crack.
Without going too far into “philosophical” discussion about MLM, it’s because all three companies, at one time, actually *did* have their sales force retail their products.
However, nowadays, it’s unknown whether their “sales force” is actually recruiting more sales force, or actually selling products. And that’s last thing I’ll say on this, as we’re no longer talking about USI.
No they’re not. It’s a NET LOSS of energy. It takes more energy to generate the gas than they can be burned with. Even Mythbusters busted that one. Not that true believers will ever believe they’ve been beaten, of course.
There are less than 1600 Bitcoin ATMs in the world right now. Your “3 million” is the total number of REGULAR ATMs in the world as of 2017. You could have Google’d that in 10 seconds. Tsk, tsk, tsk.
Even Gemcoin, the bogus cryptocurrency, only claimed 10000 ATMs in two years. Turns out, they only have 2, and they’re both in the lobby of the Gemcoin business HQ. (And there’s no evidence they work at all, except as regular ATM)
And it’s like cold fusion… nobody can replicate it to prove it actually works, just a bunch of kooks who claimed they can create energy out of nothing and blab about some conspiracy to silence them by invoking X-Files Mentality and Galileo Gambit.
In fact, James Randi Foundation has a standing “challenge” prize since 1996 that they’ll pay 1 million to anyone who can PROVE they have a perpetual motion machine, or any PROVEN paranormal ability.
As of Randi’s retirement in 2015, the prize remained unclaimed and the prize has been discontinued.
REGARDING LEGITIMATE MLM COMPANIES:
Legitimate MLM companies have real retail product sales that the public needs, wants and is willing to pay for outside of any income opportunity. In theory, the MLM referral bonuses replace budget expenses for traditional mass marketing.
Unfortunately, many MLM companies do not have products with real value for the marketplace. The only people buying their products are the same people earning bonuses from the sales of the products. This internal consumption is the technical definition of a Pyramid Scheme.
A Ponzi Scheme is different from a Pyramid Scheme. A Ponzi scheme promises an ROI, but has no (or an insufficient) value creator. The only real revenue is from new investors that are given the same ROI promise.
Old investors are initially paid the promised ROI to give the impression that it really works and to attract more and more investments.
Unfortunately the ROIs paid to the earlier investors comes from the new investor’s money. That’s a Ponzi Scheme, named after Charles Ponzi in the 1920s, and more recently pulled off by Bernie Madoff for many years.
The questions that should be asked to determine the validity of a legitimate MLM opportunity are as follows:
1. PEOPLE: Invest most of your research in the people behind the company. Are they trustworthy and competent? Do they have the executive experience to run a multi-million dollar corporation?
And more importantly, do they have a track record of success, or have they started and shut-down many fraudulent MLM companies?
2. PRODUCT: Do they have real retail products and/or services that stand on their own outside of any income opportunity? Is their mass demand with repeat consumable sales?
3. PROFIT: Is their a reasonable opportunity to earn a profit to break-even quickly on your business expenses, and eventually earn a part-time or full-time income?
4. PROCESS: Is there a simple duplicatable process that can be easily followed for the average non-salesperson to follow for success?
MLM itself is not evil, but is a legitimate peer-to-peer referral marketing strategy.
Unfortunately, because of one its virtues of a low entry barrier, it attracts many people that would not likely succeed on their own in business, and are duped into false expectations and promises of get-rich-quick stories.
That doesn’t make MLM bad, only the many con-men/women that use it to cheat people.
REGARDING MLM CRYPTOCURRENCY COMPANIES:
Almost all MLM Cryptocurrency companies have no retail products and are only selling their own cryptocurrency coin that they created out of thin air for practically nothing. They have no COGS (Cost Of Goods Sold), it’s pure profit for them.
Because they are selling an investment as defined by the Howey law suit in 1946, “a contribution of money in an enterprise with an expectation of a return on investment from the efforts of the enterprise with little effort on the part of the contributor”, they are required by law to register their “Security” investment offering with the Securites and Exchange Commission (SEC).
None of these MLM Cryptocurrency companies are registered with the SEC because they would have to go through an exhaustive vetting process that would unveil their scam.
They typically point to the success of bitcoin’s rise to riches, and they claim that they’ve created bitcoin 2.0 as a better bitcoin. They claim, if you missed the opportunity to buy bitcoins for pennies in 2010, now valued at thousands of dollars, you now have a second chance to get rich with their coin.
Some of them mask their coin sales in a thinly veiled “retail product” (like training) with “free coins”. When asked what they intended on purchasing, the answer is always the coins not the fake products. The SEC is not stupid, they can see right through this.
They offer their coin for mere pennies with promises that the price of their coin will sky-rocket when they go public and execute their business plan. They rarely can provide a sustainable business model that will create real buyer demand (outside of speculative trading hype) with real utility for their coin.
Common hype stories to increase their coin price include;
1. LARGE NUMBER OF COIN HOLDERS: They recruit and distribute coins to hundreds of thousands of people. Unfortunately all these people acquired the coins for one purpose – to sell them at a profit (not for any utility).
As the price increases from hype (“Pump”) to an attractive level, insiders start selling their coins and crashing the price. The price never recovers and most people lose all their money while a few get rich from the “Dump”.
2. MERCHANTS ACCEPTING THEIR COIN: This fallacy has been claimed by many MLM cryptocurrency companies. It sounds good on the surface, until you realize it only benefits the existing coin holders and does not create any buyer demand.
The merchants will also accept your credit card, so what’s the advantage of buying and using the coin? (unless of course you already own the coin).
The real hidden secret is that if a merchant does accept their coin, they will have to immediately sell the coin to pay their business expenses. This creates seller-demand that drops the price (the complete opposite effect expected).
The smart money invested in the cryptocurrency space by Venture Capitalists is never in any coin. Hundreds of millions of dollars have been invested in the supporting services infrastructure – companies that make money servicing the industry regardless of the success of any specific coin.
Companies like public brokers and exchanges, wallets, news, payment processors, etc. Not one dime of VC money has ever been invested in speculative trading.
So, when an MLM company arises that provides supporting services for the cryptocurrency industry, that provide real value to the marketplace, for which sales representatives can earn an honest commission, then we will see a legitimate MLM Cryptocurrency company that isn’t based on selling hyped up coins.
I just came across a post from a marketer’s community who is starting to get worried about usi’s “Staged” video footage of one of the owners from inside Genesis mining facility and is telling ppl to stop compounding until the company has cleared this up. The end may be closer than we think.
Genesis mining. Not far behind USI.
Just no. Committing the act of MLMing does not change with the product. And slipping in the word “venture capitalists” to draw a comparison for the next MLMer mark is beyond sneaky.
“So when an MLM company arises….”
Sounds like Bob is working on or aligning with “another” MLM scam. Oh dear.
@Char – RE: Bob: “The smart money invested in the cryptocurrency space by Venture Capitalists…”
I believe Bob stated very specifically about THE REAL Cryptocurrency Space , in it’s current state – the one having nothing whatsoever to do with MLM; as this parallels my observations, as a regular attendee of such crypto/ blockchain conferences & events, etc.
I believe he’s just iterating a “technology FIRST” assertion, and by that, meaning VERIFIABLE technology first.
The “then we will see a legitimate…” infers this is not yet happening. …( TT: if ever?) in MLM
My own observation regarding so-called crypto MLM’s is that besides their uselessness, lack of technology, security, transparency, distribution, usability, roadmap and dedicated/ competent development team; is that due to the binary side of such business, ~1% of the early participants will end up possessing ~>50% of the circulation, influencing human fallibility and leading to
a.) Market Manipulation (sell and buy “walls”) by the experienced, and
b.) the Law of Pump & Dump (wealthiest coin holder dumps at first signs of strong material gain – often done collaboratively by top scammers or winners).
Both scenarios create either FUD or FOMO to the uninitiated, who are the last to realize the reality and the first to take heavy losses.
Im gonna assume that the magical free energy box patent number hasn’t been released yet???
If its patented then really there is no reason not to tell us which one as a patent does protect the device.
Mind you there are also lots of patents for stupid things that dont actually work as well.
Please edit this as needed.
Look at this recruiters new rules. Seem like they are feeling the heat.
not a link —> NOLINK://www.empireambition.com/2017/11/usi-tech-progress-update-new-features.html
Sorry if i posted wrong.
No doubt he is – in McMurrain fashion.
The game is to take something that is real, or sounds plausible, and use that language to convince suckers, and plant seeds like the term “venture capitalists”.
This last paragraph says it all. Keeping in mind this is written by a former/current MLM owner.
The “then” is a “coming soon”, not if it ever happens IMO. It’s a set up.
Here’s the pitch:
What people must realize is MLM-ing is something you do – like “steal-ing”. It does not matter whether you steal gold or diamonds, coins, wallets, coin dispensing machines, ads, voip, auction bids, or shakes.
When everyone joins to make money, it’s a Ponzi/pyramid. Retail isn’t conducive to the MLM model for too many reasons to list today.
Sorry Tim. No matter how good the “general” information is, I will not trust, or credit, former scammers with an agenda who continue to be active in the same prison yard games.
Btw, is Nexxus University still around? I know GCR is dead and gone and apparently people lost a lot of money per comments on that thread. Both these owned by none other than Bob Wood.
I agree. There are no good MLMs. Getting paid a commission is getting paid to lie. And the recruitment part makes it even worse.
The worst is. Besided it all being a lie. No one seems to know what lie to tell.
I’ve seen 140% in 140 days. I’ve seen 40% in a month. Are they trying to say they trade bitcoins in a forex way? Or are they saying that just because bitcoin is going up everybody wins???
I know its all fake, but I just wish they could get their shit together and just present me with just ONE COHERENT LIE instead of this crazy wriggling bag of snakes we have before us now. These guys suck at lying.
Also, “IF (lol)” USI-tech’s forex trading software was actually trading bitcoins hundreds or more times a day and using its sweet-ass nonexistent algorithms to make bank, Wouldnt that be an issue with bitcoins notoriously slow blockchain?
Some people say it takes days to get a transaction to go through. Yet all these ponzi’s are apparently putting through hundreds or thousands a day each???? Its just such BS.
Not to mension dickie d that the cost for each btc transaction would be huge for their scalping alogorithms. its a load of shit.
I have the slides of the latest conference they did. Someone recorded it but they werent suppose to. ill post some of their latest advances. haha.
Thank you SO MUCH. I was sucked into USI-TECH 2 days ago…. bought one $50 package to test it out and had some issues with the grand statements being given (and the general ignorance of my “up-line”).
Thank you baby Jesus for stumbling onto your site. It’s the cheapest financial lesson I’ve learned in a while.
I should have known better, thank God you did.
No worries mate. Glad you found the review useful.
If I may also add some easy to remember advice. If you can use that word “up-line”, just say no. Do not ask or listen to the pitch about the product, a diversion, and run away fast. It will save you every time, EVERY TIME.
You might enjoy this read for general due diligence:
Anyway, good for you for reading behindmlm. You’d be surprised how many people participate in scams without doing research.
I’ve seen lots of interesting stuff here…I will say this…Not everything here is true or even worded properly…The earnings are apprx 1% daily…sometimes is lower…sometimes its higher…
the packages don’t run for a set 140 days…They run until you have earned 40%…Someone mentioned why people think they are making 1%…
Everyone knows we are not making anything. We are being paid back our initial capital plus 40%. So, in the 140 day period or maybe a few days longer you will have gotten your money back plus 40%.
Recruiting is not necessary to earn…There are several people that are simply using the cash flow aspect and not recruiting anyone. I’m one of them.
Yes, the crypto and forex market are 7 days per week…the earnings are paid on 5 of those days…We are well aware of this…It also explains why the apprx 1% is sustainable…It was covered in depth at the event in London that attended.
The two days that we do not get a payout the company uses that revenue for mining investments and reserves.
The commissions are not 50%…The commissions are only 35%…
Anyway, there are tons of other things listed that are inaccurate but I really don’t have time nor am I interested in debating each one…However, I am going to continue making a profit with USI Tech as I have several packages that have crossed the 100% mark…The last 40% is pure profit and I’m loving every bitcoin of it…(Ozedit: Offtopic derail attempt removed)
A…If you call this Due Diligence…I’m worried about you…
Dickie…perhaps you have a comprehension issue and need to go back and make sure you are understanding exactly what you read…
Your statements sound like you are confused due to lack of understanding. The blockchain technology is not related to TRADING anyone can buy and sell bitcoin. The blockchain is the process around transactions.
Gawd where to start. He’s trotted out every bitcoin Ponzi excuse in the book.
Whatever pseudo-compliance BS they’ve come up with since this review was published is irrelevant.
You’ve managed to crap on and on without addressing the key component that defines USI-Tech as a Ponzi scheme.
Meaningless pseudo-compliance BS. You invest and receive a 140% Ponzi ROI, paid out of subsequently invested funds.
Whether you personally recruit or not is irrelevant. Someone has to recruit or USI-Tech’s Ponzi collapses.
No it doesn’t. Using newly invested funds to pay off existing investors is in no way sustainable.
Of course not. Addressing the fact that USI-Tech simply recycles newly invested funds to pay off existing investors means acknowledging you are a scammer.
And that’s pretty much all you came here to post. Shameless stealing of everyone who joined after you.
I’ll be fine, I’m not one of the people your stealing from. Spare them a thought, or not. It’s probably easier for you to sleep at night if you pretend your receiving trading profits.
Now,the Usi guys have said that the name will be here.. blockchain.info/pools.
If it shows here, I shall come back call most of you idiots and liars– Now if it does not show @ that site they are deceptive mining pool liars.
I shall come back and call you the best folks on earth and offer an apology for my first thought.. I will be back!
LOL, I can’t wait to hear USI-tech’s excuse for not appearing there Luke. We will all be waiting here for you return.
Hmmm, I wonder what excuse USI will give? Are they going to blame a hacker for removing their entry from blockchain.info?
Or maybe they’ll blame it on ‘technical difficulties’. Or maybe they’ll tell everybody that it takes 18months for blockchain.info to update their records?
A serious question though Luke. Did USI say exactly when they would appear on blockchain.info/pools?
Silly gullible investors.
USI-Tech appearing on a mining pool list is not evidence of external revenue actually being used to fund ROI payments.
An audited accounting report would prove that, however USI-Tech have failed to provide one.
Here’s my only observation.. In USI’s own video showing their mining facility (which probably isn’t even theirs), it shows they have the capacity of mining 14-15 bitcoins per day.
There daily 1% ROI is paid on bitcoin amount invested, not dollars. That means, that with their 1% daily ROI, they can only pay that out on 1500 bitcoins total that have been invested into the USI pot.
Simple math. 1% of 1500 bitcoins is 15 bitcoins..
That’s not taking into account any expenses, investments, paying out commissions (35% of money in), etc…
However, It’s public knowledge that there are over 500,000 users inside of USI and I know a group marketing this that alone has a few hundred bitcoin as a team in the pot.
All said, there are wayyyy more than 1500 bitcoin that have been invested into this company for the 1% return plan.
It’s simple math, the simply can’t pay out a daily 1% bitcoin return to investors by mining 14-15 bitcoins per day. The money is coming from elsewhere.
Being they show no proof of trading at all, it only makes sense that it’s coming from investors.
Truly, even if they did have the magical power source and invested 100 million in mining equipment, they can’t generate enough bitcoin to pay back the debt they owe to people..
Plus, if they invested $100 million into mining, and are generating 15 bitcoin per day, at the current price, 15 bitcoin is worth $150,000… So it will only take the 667 years to pay that off.
Sometimes it just takes a bit of math.
LOL!!!! explain how theyre minting new millionaires and investing hundreds of millions of dollars, yet cant put up a website with relevant information and the internet is full of morons with stupid youtube videos with clip art and colourful words and stupid music..
LOL Ya buddy!!!! Its just ripe with the smell of success.
The guy who sells stereos behind the local mall has more credibility…. and apparently brains than you and usi-tech.
Its just ridiculous but also amusing watching people fall for this scam. It like your repeating fucking an electric pencil sharpener and just cant figure out why your dicks bleeding…
I think maybe USI-TECHs next pamphlet might be made out of glitter glue and macaronis. 5 gold stars….
This is a Hybrid-Ponzi. They give the image of legitimacy with some revenue generation, but never enough to fulfill the to-good-to-be-true commitment.
Dickie D: You are correct, the majority of the “profits” come from new investor’s money.
Here is an excerpt from an email from Michael Zavitz (major ponzi pimp)….looks like the USI crooks think they can start their own mining farm to look legit!
I sure hope the negative comments are wrong, or I am just one of the lucky ones.
I came in in April, I have withdrawn more than I spent on packages. Two of my purchases have expired but my account weekly earning are more than my original expense. So I will continue to withdraw. Time will tell.
I hope you are not to upset that my fingers are still crossed and that owners of USI have been telling the truth. Just trying to have a little faith so please do not shoot me.
Faith has no place in MLM due-diligence.
You’ve been stealing from people who joined USI-Tech after you for 8 months – without proof whatsoever of external revenue. That makes you a scammer.
Ponzi pimping “is” wrong just like drunk driving or stealing. There is nothing subjective about it.
I cant believe I looked back at “blockchain tech” becuase of this tool. But trading ARE TRANSACTIONS right? If coin move to or from a wallet address….. WTF else would that be?? If not a transaction.
NO one would be mad at you if this was legit. And People will be able to withdrawal their money until this thing collapses so time will tell. Its gonna collapse, just when…..
The Securities and Exchange Commission just shut down PlexCoin ICO today (12/4/17).
PlexCoin’s website is near identical to USI-Tech, and their ICO offering appeared approximately two weeks before USI-Tech’s “TechCoin”.
I never heard of PlexCoin before today. Any one out there aware of any similarities and/or differences between the two models?
I forgot to add the SEC announcement. Here it is:
I hope USi and Bitconnect are the next scams on the SEC’s radar!
@scammerssuck. Bitconnect will be a higher priority for the SEC. If that happens, the USI coin will die an untimely death and never be seen in public.
The faithfulnUSI followers obviously dont have faith in the coin. 60,000,000 sales to date (including a lot of freebies) divided by 500,000 members equals 120 coins per member.
Ralf and the boys must be scratching their heads thinking up the next 50 euros scam. The Iceland video in Genesis’s facility is pure Gold.
They never said they were with Genesis Mining. Mike Kiefer (one of the co founders) did in fact say they were in the same facility with Genesis and there are a few companies there FYI.
They will be releasing who the company is very soon as they will also appear on blockchain.info/pools. Once that happens people cannot deny they are mining.
Mike Kiefer also said that he replied to a thread in behindmlm and that his comment was never published. I wouldn’t be surprised if my comment got deleted just for saying this.
Here’s links to interviews where I got my information:
Why did they explicitly show Genesis Mining’s rigs then? There’s video evidence of this.
Seeing as the Genesis Mining videos came out almost a month ago, why is it a secret, period?
Sure. But without audited accounting showing external ROI revenue, it’s meaningless.
Also USI-Tech have been paying BTC returns since at least July. What, they’re only setting up mining now? Lolololol. Ponzi scammers through and through.
Can confirm Mike Kiefer has never commented on BehindMLM, at least not under his own name.
@Gabe Ralf Gold also said they would be releasing details of third party cryptocurrency trading “very soon”. That was 6 months ago. Paperwork is very thin with USI but the 3 front men say a lot.
@Gabe I can buy a rug and say i’m mining too. But I may be losing money. Where are the audited records. In fact who are USI’s external accountants and auditors.
@Gabe Do yourself a simple calculation to work out the value of each coin. Net income (after Expenses) divided by 500,000,000
For sweeping your profits under the carpet? 😀
We’ll see in a couple weeks time. I’m sure the people that are so bent on hating on USI-Tech will find something else to hate on.
Right now USI-Tech is trading through a hedge fund (Ozedit: If you want to make claims about USI-Tech’s bitcoin ROI revenue, you need to provide evidence.)
Plexcoin was brought down by Quebec judges a while ago I believe…
Please don’t republish the same marketing spam BS we’ve already seen.
USI-Tech claim to generate ROI revenue through bitcoin trading:
So either they’re lying, you’re lying or you’re both lying (no external revenue).
To date there’s no evidence of USI-Tech using an external source of revenue to pay affiliate ROIs.
@Gabe In the video with fellow scammer Charles Scoville, Ralf Gold went on the record to say that crypto trading was done by more than one third part trader. No mention of a hedge fund.
Ralf also said the evidence of third party trading results would be produced soon. That was around April 2017. Its pretty hard to produce a blank piece of paper.
super long video but its totally worth the watch.
If I bought 1 bitcoin 140 business days ago, it would be worth a helluva lot more than what these scammers offer.
If I had bought 280 business days ago, it would be even better and I could actually sell if I wanted. Come on in suckers.
Cryptoskeptic: No, your 1 bitcoin would be worth 1 bitcoin. USI say that it would be worth 1.4 bitcoin (ish).
@ Tim My bitcoin is worth more. You have to wait 140 days and hope the value is higher at that point in time.
I wonder what the deferred liabilities are from all the rebuts and more importantly what the reserves are. Another dark hole.
Once you get past Sunil rambling and repeating over and over the junk he learned from the other videos he shows.
It is worth watching.
Who said they have reserves?
I thought they were busy withdrawing money and making tiny payouts as needed.
Isn’t everyone in happy land making REBUYS??
That would be 667 days not years taking into account Bitcoin price does not go down in value.
I actually got excited about USI-Tech initially because they were dealing in bitcoin. But it did appear eerily similar to another scam that closed down unexpectedly and everyone’s money was gone.
Luckily for me, I only has $100 in that one. USI-Tech has the same format; where your money is locked away for 40 days and have to wait until then to get it back.
They do have some huge players in this company with 1000-2000 packs. Of course, now they are pushing their ‘tech coin’ which is supposedly backed by this mystery energy technology which sounds fake.
Of course their coin doesn’t go public until they sell a ton and you’re hoping they don’t disappear before that happens.
Right now they’ve sold roughly 65m tokens which equals about $39 Million they have taken in! Not bad for something that doesn’t exist yet. Anyway, I’m just waiting for my 2 packs to ‘mature’ and get out for good.
I doubt they will ever release their coin and just run away with tons of bitcoin.
My friend says withdrawls are a bit slow at the moment. Verification code emails are’nt coming thru. Fancy that.
Did it involve arbitrage on international postage stamps in the 1920s?
Ah, a new fish.
The scammers are pushing this for all they are worth in the comments under every mainstream press article about BitCoin. Either the scheme’s running out of money and they’re desperate, or this is one more big push and the collapse will be a few months later when people start expecting their original capital back.
Since USI-TECH is outside of the United States when the SEC shuts it down would there be claw backs? What happens when it gets shut down or collapses.
You can’t get your money back, except for the 1% per day they deposit into your wallet. Therefore, it takes 100 business days (about 5 months) to get 100% of your money back.
They promise to pay you 140% of the price of your purchase so it can take more than 140 business days, depending on the daily returns.
The majority of participants have zero math or money skills, so they tell prospects “we make 1% per day”. Not true. They make 40% over 140 days. That’s 0.029% per business day.
The rest of the daily pay (about 0.08%) is return of their capital. 0.029% daily for 220 business days per year is about 64%.
USI’s number crunchers have done a really good job by persuading participants to keep their money in the system by “rebuying” packages so they can compound their earnings.
They must have a shitpot full of money and when the system collapses -as it must – they’ll flee to another country and the folks who left their money in the system will be left wondering what the hall happened.
Won’t know until it’s shut down. Depends on how the SEC do it and who they work with.
Look up “Profitable Sunrise” and its fallout.
I really think they should also go after the recruiters. Every one of them are souless scumbags.
When I bored I spend my time reporting their facebook and youtube pages as ponzi scams.
I have been following this thread for a few weeks and have had my opinion totally changed by the info provided.
I was “introduced” to USI tech by a family member just before the big event in London and was shown all the success stories and added to the “cult like” facebook groups where everyone shares their “success stories”.
I have to admit, since I missed out on some Bitcoin years ago I never questioned the claim of “software generated trading” I just threw in £200 for 4 packs to see what it was all about.
I have never experienced MLM/Ponzi before but I talked to a few friends about it who seemed interested but wanted to research it, so I decided to do the same.
As 3 of my friends signed up and put in small amounts I decided to dig deeper before anyone started getting in deep. Not just from this page but a combination of research I have found all the claims of USI to have so many holes.
1. Owners history is all more than questionable
2. Some of the top recruiters in USI I have come across, have chequered pasts with Ponzis/Scams
3. The infamous Iceland mining video is just a blatant lie, how they thought that would pass is beyond me.
4. For a software company to not have a perfect running website and app is laughable.
5. This “transparency” claim, my sponsor tells me will shut up the doubters, a section of the mining pool proves nothing to me and so far they arent present on it.
6. The millions of BTC ATMs they claim to be putting worldwide is 3 million, the same amount of standard ATMs in the world, do folk really believe this. Which leads me to my last point.
7. The absolute ignorance from anyone involved to question anything, I have actually tried to talk people out of it, and as soon as you raise any of the above point you are branded a Hater or Doubter, just for asking a reasonable question.
All of a sudden Sharon from down the street is a cryptocurreny expert and claims on her Facebook that she can transform my life with only €50 investment, but you aren’t allowed to use the word investment?
And Bobby from Tescos has “retired” cause hes making a “6 figure salary” after being involved for 6 months. Do these folk not know what a salary is (annual income, as in 12 months) and how stupid are they gonna feel when it falls and they are left with nothing and no job?
USI claim they are going to transform lives, I think this is 100% true, though I’m not sure the transformation will be very positive.
I, like everybody wish it was this easy to make some real money on the side, but I am a realist who for 5 minutes had a bit of hope with it.
This page amongst others has helped me see the light, now just to try and claw my money out before it fails.
Hey guys. The latest excuse is that withdrawals ate taking longer than normal due to the volume of transactions on the blockchain.
Funny how I transferred a bitcoin transaction from my Coinjar account to another wallet and it processed in 1 hour.
@Mr Hendrix. I don’t mean to make you feel worse thsn you do. Hopefully you will be able to claw back your investment before it goes belly up.
One important question. Have you calculated what your investment would have been worth today if you had bought Bitcoin direct on an exchange. That’s where the biggest con is.
So basically nobody here knows anything and this thread is one big giant speculation….
Nobody knows how USI is paying their customers.
1. The “It’s a ponzi scheme” people are assuming they are paying older customers from newer ones because that’s what other companies did. They have no evidence….. but are assuming.
2. the “It’s NOT a ponzi scheme” people are assuming they are not paying older customers with newer ones because this company is supposedly different. They also have no evidence…. and are also assuming.
So the end result is, nobody’s mind is being changed, and everyone is talking out of their a**es because the only people who know FOR SURE about USI’s books….. are USI’s book keepers.
So this thread can go on and on, back and forth until the end of time…and it looks like it’s been going for 5 months now…..but it’s pointless.
Nobody on this random website knows for sure how they generate their money so I guess people will just keep picking a side and defending it no matter what.
Either that or instead of baseless speculation, reach out to their owners (since you actually know who they are) and ask them and see if the answer makes any sense or not. If it does, shut the f*ck up. If it doesn’t, ask them to elaborate so their customers know they aren’t full of sh*t and trying to host an elaborate scam.
or you guys can just keep talking back and forth about sh*t nobody has any evidence for other than “what happened with some other company in the past” and how this is… or isn’t…. going to be the same thing.
Nope. You have facts confirming USI-Tech is a Ponzi scheme, and then investors relying on speculation to prove otherwise.
Unfortunately for USI-Tech scammers facts > speculation.
Nope. USI-Tech is a Ponzi scheme because they use newly invested funds to pay existing investors a ROI.
There is no external revenue source, only unsubstantiated claims made by USI-Tech and their affiliates.
This is a factual review of USI-Tech’s fraudulent business model.
The world is full of gullible idiots, what they do or don’t take away from the facts is on them.
Time and time again Ponzi busts reveal poor book-keeping. There are no “books” because USI-Tech is a simple script-based Ponzi scheme.
USI-Tech’s business model is not an unknown. MLM due diligence begins and ends with analysis of a compensation plan.
If you’r relying on statements made by scammers that contradict their business model and the facts surrounding it, you’re doing due-diligence wrong.
When USI-Tech collapses or is shut down this review will serve as a reminder for the rest of the MLM crypto scams hoping to make it big. Anything more and you’ve read it into it too much.
@ Butters Bookkeepers????? What Bookkeepers.
@Butters Reach out to the owners. What for. Just have a look at Ralf Gold in the video with the infamous Charles Scoville of Traffic Monsoon infamy. Its on the Vanderbilt website.
Ralf just spoke pure BS and was going to produce evidence of trading “soon”. That was in April.
@Cryptoskeptic you are right, My £200 would be worth £500 due to the rise in Bitcoin, oh well you live and learn.
Lot of people trying to tell me that I’m being to negative and will regret it next year. I hope I have time to get by initial investment out, then just the wait till it falls.
One of the arguments of the guys who supports USI is about the owners, they say, if theyre showing their faces they arent affraid of being arested.
So, my question is, if most of them are known for doing scams in the past, why arent they already arested? if they did so, shouldnt they be in jail?
Number of reasons, they could be on the run, regulation where they operate is lax or extremely slow, they’ve only been part of small-time scams in the past, they aren’t scamming where they reside etc. etc.
The genius who invented the forex platform all by himself, doesn’t show his face anywhere. Does that answer your question?
One scam in Portugal was enough. He isn’t even referred to as a leader in USI junk mail. Ralf Gold hooked into the Dallas conference by live stream. Just too busy our boy Ralf to appear in person.
@brunofpay these psychopath owners believe their own lies and think they’re above the law. I believe that the magnitude of the financial gain with USI has allowed them to throw all caution to the wind.
I am seeing quite honorable marketers of the past going ape-shit over the USI opp and many, as they have shared privately, are making 20/40k and even over 200k per month profits from recruiting right now and therein lies the boldness and I-dont-give-a-damn- attitude they all seem to have.
The lure of easy moneys has a very strong appeal. I don’t even think they care who looses their money in the end, they are delusional and in denial and try their best to ignore the big Elephant in the room that every one of those marketers knows is there.
I think USI-Techs timing is flawless, i believe its the only time in Ponzi history where a program is keeping ahead of their liabilities, and thats because Bitcoin has grown in value beyond what they need to pay out. Making all participants net winners so far.
So what would the regulators do when they find out all participants have made money? Ponder that one.
Quite ironic and somewhat amusing, because participants could have made more just holding onto to Bitcoin and not throwing away value by putting it into a program like USI-Tech.
Of course, the whole landscape would change if Bitcoin dropped in value continuously for the next six months. Unlikely with the current state of play.
Question is now will USI-Tech set records?
Depends whether USI has done nothing with the Bitcoin it received and how much has been creamed off to the leaders and spruikers. Lack of records means the first time we will know is when payments stop.
is there any proof USI Tech have actually bought BitCoin?
Now or in the past?
It was my understanding that you buy into USI-Tech in bitcoins and you supposedly get 140% bitcoins back. Is that incorrect?
@Laurence Apart from the bitcoin that package and token buyers send them, there is No proof
But aren’t they committed to taking in 1 Bitcoin and paying 1.4 Bitcoin out? In which case the rise in Bitcoin against fiat currencies does not help them at all.
It only helps them if the promise is that you pay them 1 Bitcoin in Bitcoin (when it equals say $5,000) and they pay you $7,000 in dollars after 140 business days. If by that point 1 Bitcoin is worth $15,000, but they still only pay you $7,000, they pocket the difference.
If the contract is that you pay them 1 Bitcoin and they pay you $7,000 after 140 days, with hindsight that’s not even a Ponzi scheme, that’s a futures contract – albeit one that contravenes US law due to being illegally unregistered.
But as I understand it that’s not the case, and both the initial investment and the payout is in Bitcoin.
They’re keeping ahead of their liabilities because the explosion of interest in Bitcoin = lots more suckers to recruit.
Once the media interest in Bitcoin wanes, recruitment will die down. Around 4-5 months later, the scheme will stop paying out interest (because the initial capital, minus whatever the leaders have squirreled away in Dubai, will have run out), and people will start to get nervous. Then at the end of the half-year period, when repayment of the initial capital falls due, it will collapse.
Give or take a bit of rebooting and other standard Ponzi tactics.
Your bitcoin is returned to you over 140 business days along with claimed earnings from a variety of sources.
If you dont rebuy you can start withdrawing once your balance is over 10 euros eqivalent. Earnings arent guaranteed but is claimed on past performance to be around 140%.
There are no certified records to show hiw they achieve the 40% return
They are keeping ahead of the curve because Bitcoin is going through the roof. Craziest dam thing i have seen in all my years.
Again, how is that relevant if the deal is that you put 1 Bitcoin in and get 1.4 Bitcoins out? They still need to create 0.4 Bitcoins out of thin air to pay investors.
The only way the price of Bitcoin in fiat currency makes a difference is if USI Tech uses fiat currency to buy 0.4 Bitcoins on the open market and then gives it to investors.
But that’s not how it works. You pay them, they don’t pay you. The 0.4 extra Bitcoin comes from the Bitcoin invested by new investors.
Classic Tony Rush
54 minutes long?
I surprised myself by watching the whole thing too, great sermon.
Your logic makes no sense. BitCoin going through the roof COMPARED TO FIAT CURRENCY. But if you measure in Bitcoins (i.e. to itself), then there is ZERO gain. The ratio will always be one.
USI is promising mining, which translates to EXTRA Bitcoins, not rise of value in Bitcoins. Rise of value in Bitcoins are irrelevant to actual mining (except profitability).
@Malthusian For every 1 Bitcoin they receive, 0.35 bitcoin disappears to the spruikers (leeches) in the pyramid. So they have to create around .75 bitcoin.
Their deferred liabilities from rebuys must be enormous.
Watch the video and Ralf Gold’s explanation about how USI tech make their money from crypto trading.
It isn’t even from their brilliant trading platform. The BS in this is unbelievable.
Lets try this again and let me say this for USI its not by design that this is happening, it’s by sheer luck of timing.
You purchase from USI-Tech 2 x 50 euro packs = 100 euros and you pay for that with Bitcoin.
The contract says you will get back 140 euros in 140 days. Ok
Meanwhile the price of Bitcoin triples over the 140 days.
The contract ends all USI has to pay is 140 euros worth of Bitcoin to the punter.
That leaves USI-Tech with 160 euros worth of BTC up their sleeves.
Not to mention the 600 euros they charge for their trader packs.
If there is any trading going on I doubt it, mining would be a waste of money at this point in time for them.
Can you see what is happening here now?
Yes we can BigC. It’s a big shill ponzi that’s ready to explode at any given time. Doesn’t matter how they charge, a ponzi with lipstick is still a ponzi.
Finally, someone has stated the obvious.
Big C recently posted:
@Big C. Read the example under Buy and Hold.They say its 40% of bitcoin not euros. 40% of the original purchase price of 550 euros is approx 220 euros. They say you get back much more.
Thanks Mike, i wasnt defending USI i was just more interested in the mechanics of how they have lasted this long and how much the J curve of Bitcoin coin had supported their Liabilities.
The timing of them bringing out their coin supports the on slaught of 4th cycle that they are now into which forces them to somehow boost cash flows, as i would think their cash on hand would be taking some serious hits about now.
So if it goes as history shows, there will be a big get to together annoucement or world tour next, more news about going public with the coins, splits swaps double ups ect’.
Then the end.
Your right, i stand corrected, that makes the deal all that much more pozified than i calculated..
@BigC, all I can say is that my friend who is in deep says that they are paying out approximately 140% of the bitcoin invested, not the euro value.
I’m not defending the scheme either but I think this is a misunderstanding of how it is supposed to work.
50 EUR worth of bitcoin in, 70 EUR worth of bitcoin out. No need to complicate it.
Except that that’s not what they are offering, according to the link cryptoskeptik posted.
Well that’s their business model and has been since day 1.
Apparently that just changed with the release of their own ponzi coin. Good luck with that as it takes some serious smarts to make a coin work open loop.
@Oz And that’s why they cannot generate the required Bitcoin long term. It would be easier to pick the first three places at the (horse) races for 52 weeks a year, than generate the required return to meet their liabilities long term.
The only possibility is if Bitcoin prices collapse to $1000 but that would be the end of the new people buying packages.
I just filed a complaint with the iOS App Store about usi-techs app. God wouldn’t that be nice if that’s all it would take. Fingers crossed.
according to FB posts and youtube videos, when usi tech shifted to a new website a few weeks ago, many affiliates found their bitcoin packages missing.
while some claim they received their packages back, many still haven’t.
stealing investors BTC packages under the guise of technical ‘glitches’ is an effective way for usi tech to reduce it’s liabilities, i guess. ponzi’s have to be ‘innovative’ to keep going as long as possible.
usi tech also doesn’t allow any recording at their recruitment events, including the event they held in texas recently.
affiliates are warned that if they record, they will be kicked out of the venue and their accounts will be frozen.
strange behavior for a company that claims to be ‘legal’ and ‘transparent’!
If you Google usi tech trading proof you will see several videos about their Forex trading platform which is yielding good returns, that platform is no longer available as USI-TECH are releasing a new Forex package similar to the btc packages.
and an announcement on transparency on the btc packages will be announced on the 20th of this month at an Xmas bash in London, so transparency is imminent.
None of which show audited accounting proving external revenue through trading.
On Dec 20th USI-Tech won’t release an audited accounting report, just more hypey marketing videos. They’d have released evidence back in May if there was any.
@Sean If the forex platform is as good as all the hype, every, repeat every professional and institutional forex dealer in the world would buy it. Im willing to bet the stampede won’t happen apart from ignorant greedy suckers
Question— My friends are begging me to sign up for USI Tech— I keep telling him its a scam, but a friend of a friend invested $2400… Already withdrew 15K and has a balance of 115K, when they see that they are excited and they have recruited so many people.
It’s hard to fight the results, but I believe it is a scam.
Why fight them?
Your friend has stolen $15,000 from people who signed up after him. There’s no denying that.
Whether you choose to also become a scamming thief is up to you.
it’s not a question of that…… I don’t want to see any of my friends get hurt…. Do you think this will die out soon or do you think they will get hurt in the long run.
@Gman. Do yourself a favour and buy Bitcoin directly from an exchange. Dont worry about your friends.
Dumb it down for me– Why do you think this is a scam, To me I think it is a gamble, plus the right timing.
My biggest concern is my other friend’s, which to tell you the truth I only see them investing 1k… But if it skyrockets and they have nice money on paper, and when its time to cash out, nothing is there.
Only those running a Ponzi scheme know when it will collapse.
The one thing you can rely on as an ‘outsider’s is the first sign of withdrawal problems.
Cryptoskeptic— These are real good friends, go back 30 years, plus there not the sharpest when it comes to researching, they just see dollar signs, and then it’s over.
I shouldn’t have to explain why stealing money from people is a scam.
If you’re unsure read the review again, it spells it out.
Gman – there is little point trying to convince them.I know similar people. If you read the posts above you will understand why.
BTW, there isn’t one bitcoin leverage MLM scheme that isn’t a scam.
Sorry if this is in the wrong place, but I saw Ari Maccabi was posting on FB about usi for a little while and now I see he’s pushing this “launch” … have you seen anything about this one?
I searched for a review but couldn’t find anything. (Ozedit: removed, see below) Just another dodgy one to add to the mix no doubt.
Not MLM. Just another pump and dump altcoin ICO.
Here is MLM attorney Kevin Thompson’s statement about his affiliation with USI-Wreck … er “Tech”.
There is a link to a video a few posts up. Watch it, and maybe you can convince your friends to do the same.
@G-man – You need better friends. Do you think that begging you to sign up to a Ponzi scheme so they can steal your money is what “real good friends” do?
The BASICS if they can’t see it isn’t your job to teach only to inform.
If they can’t or won’t see it is a scam – Then you have done your job.
They have to wake up and learn one day just as you have.
There is no shortage of newbies that fall for the “easy” scam money.
There are no shortcuts for hard work and being wise enough to see things for what they are.
@G-man – As you say you are new to this I will spell it out. Your friends have put in say $1,000, and want to withdraw $1,400. Where is this extra $400 going to come from? You.
They want you to put in $1,000, of which $400 will be transferred to them so they can cash out at the end of the term.
You now have $600, and you’re hoping to withdraw $1,400. Which means you, or someone else, has to recruit some more suckers so that $800 can be transferred from them to you.
At that point they have $200 and… you see where this going. Eventually, the scheme runs out of money and stops paying out. At this point, your $600, or whatever is left, disappears to Dubai.
There are also recruitment commissions which I have ignored to keep the maths simple. But it works in exactly the same way. They con you into joining the scheme and your money is transferred to their pocket. It works the same way, only turned up to 11.
I repeat, you need better friends. There’s a reason they’re so desperate for you to join. They know exactly what they are doing.
Well, Apple has responded and are doing an investigation into the USI-TECH app and its relation to the progression of mass fraud. I will keep you guys posted. I hope they understand.
it seems lots of newbies to the world of ponzi’s need a lot of explaining, because these knuckle heads are so carried away by their initial ‘profits’ that they’re dipping into their home loans and quitting jobs over this obvious USI tech scam:
goodluck^^ getting jobs and paying mortgages when the scam folds!
These are the same type of people that cry the loudest about how they “had no idea” when a Ponzi scheme collapses or is shut down.
Getting some Zeek Rewards/TelexFree flashbacks reading those comments.
So far everything USITech has screamed “scam” to me too, and I have nodded along to this discussion for several days now, but I just saw a screencap posted on FB of etherchain, and now I am wondering again.
I went to etherchain myself, and did a USITech account search and an account under the USITech name came up in the amount of 549.31btc (Ethereum), about 8.9 million US Dollars.
I own no bitcoin and dont really understand it completely, but does this change anything in terms of legitimacy? For one thing, that seems like a small amount considering how much money people have purportedly put into packets.
That not an audited accounting report proving external revenue is being used to fund USI-Tech affiliate ROIs. It’s no different to the FX Blue BS that was doing the rounds a few months ago.
And I really don’t know why people lose their common sense when it comes to cryptocurrency Ponzi schemes.
You can’t open up a Ponzi scheme, collect millions of dollars, invest a bit in mining and then claim legitimacy. A Ponzi scheme is still a Ponzi scheme, no matter what you attach to it.
Healthyskeptic – so it should be pretty easy to show us the total bankings from this source and the BTC packages trading, shouldn’t it. But they won’t. ICO’s are getting harder to get away every day that passes and more regulation will be in place in 6 months time.
Have a look at Kevin Thomson’s Facebook page. A pretty wise owl says USI has gaping cracks in its claim to legitamacy. That should be enough for most but the avid punters will still be lining up
And it certainly doesnt clear up the fact they arent licensed to provide an investment security to Americans by the SEC.
That should be a deal breaker, but I see a lot of posts about avoiding taxes and how btc sticks it to government regulation. I wont put money into anything encouraging/giving advice for unlawful behahior.
I got .4 btc in usi and im withdrawing it everyday and learning to trade myself.
around sept 28th, 2017, horst jicha claimed usi tech had collected 300 million in bitcoin packages [refer comment#41 in this thread]:
usi tech claim to have over 250,000 affiliates now so they must have crossed 300 mil easily by now.
and 8.9 mil in ethereum is supposed to prove how they can pay 1% returns daily on an investment of over 300 mil?
this is just eyewash to fool investors into believing they are legitimate.
usi tech may be doing some little bitcoin mining too, but that still wont explain where the 300 mil went.
You’ve progressed from stealing other people’s money to gambling. Congratulations. The next step is to learn how to earn money by providing something of value to your community.
1% of $300 million USD is $3 million USD.
$8.9 million in ETH mining. That’s 3 days sorted then.
Seeing as USI-Tech introduced the BTC packs back in July, what about the remaining ~4-5 months plus whatever has been invested since September?
Not withstanding mining was first only mentioned in October. Before that it was cryptocurrency trading since the BTC packs were first introduced back in July. To date there’s been no evidence of trading taking place.
Even without audited accounting USI-Tech’s lies and math doesn’t even come close to adding up.
1% would be 3 million.
if i had to guess, i think horst jicha has invested a part of his own share of profits into ethereum mining under the usi tech account name.
there’s no proof any of the profits of that mining is being paid back to affiliates.
could you work that through again and provide a link of usi tech’s account on etherchain? i cant figure how to find it. thanks.
anjali – not to mention the small cost of $10 million a month paid to someone for said mining activities as well as all the associated costs.
Aaaand that’s what you get when you copy and paste mid thought instead of a rewrite :D.
For what it’s worth this Ethereum nonsense must be spreading like wildfire throughout the USI-Tech affiliate-base. I’ve had to nuke four duplicate comments now.
Too bad they’re too brain-dead to realize what they really should be demanding is audited proof of external revenue being used to pay them. Idiots… idiots everywhere.
that’s approx 9 million in ether mining, which is about 3 days worth ROI on affiliate investments, not counting daily recruitment commissions and other costs!
yet, facebook is bursting at it’s seams with usi tech whackos going crazy about how very ‘not a scam’ they are.
^^cool it suckers. 9 million in ethereum don’t prove nothing!
That BIg announcement came sooner that i expected, which means to me they are in deeper do do and closer to the end than i calculated.
Look, Oz, I have been a stock market investor for years. I know that game, and am confident/satisfied with my strategy.
As it is, I have never watched a ponzi scheme in action, so this is all educational. I am already smart enough to stay away, but I dont understand all the ramifications not having experienced this before.
My impression is, your average USI ‘investor’ has less experience and education about investing than I, so they dont even know what they should be considering. Calling people idiots causes fanatics to dig in rather than reconsider.
I feel like you’re trying to help educate people with this site/review – dont alienate with name calling please.
Maybe I am an idiot for not thinking all the angles through – but I would blame lack of experience in this sort of scam, rather than level of intelligence.
Name calling means you end up playing the “oh a hater” game, which is counterproductive.
In the video that someone posted a few days ago, Tony Rush did find some evidence of trading but the USI profits were just a few percent. Again, nothing like enough to pay out their 1% daily.
A true believer would not believe ANY evidence you present them any way, no matter how calmly you present it.
If they have doubt, they would have tried to verify stuff via their own efforts. If they are here to argue with you, that means they believe, and only hitting them over the head with so many facts and logic may have them overwhelmed and snap them out of denial/negotiate mode as per Ross-Kubler 5-stages-of-grief model.
Nope. The only thing it reveals is somebody wanted to shore up the illusion with some “evidence”.
Think about it. All the money put in are supposed to be used toward buying long-term mining contracts from mining farms, right?
So they should already be SPENT by transferred to mining pools and whatnot. So why the insistence that they only deal in BTCs? Mining pools deal in real-world expenses like servers and electricity, so they don’t care what $$$$ you pay them in.
And if there’s really an “income” chain for USI, USI should be distributing that ASAP. After all, mining itself doesn’t take “capital” if the contracts have been bought. WHY do they have a pool of money sitting around doing nothing as if it’s cash reserve?
That’s NOT how a real mining operation is run. It makes no sense. If it’s that profitable to mine, all that BTC should be “engaged” with even MORE mining hash power, esp. with BTC at all time highs.
It’s just something for the minions to tout “see, we’re ‘legit’!”
Seems like they’re already draining the pool…..
Anyone else notice the moment you make a reasonable point to one of the ponzi-puppets they just start calling you names and swearing like children???
More “News” from the affiliates.
claiming “now there’s proof Usi is legit”.
You need the following to prove satisfactory evidence. A certified statement of assets, liabilities, income and expenses. USI have provided nothing.
Listen to my lips. You make more money as a passive investor by buying Bitcoin direct on an exchange.
If you join USI you give spruikers 35% of ypur money buying BTC packages and 60% buying a token that will never see the light of day.
I’d be willing to bet that was just the FX Blue account in USI-Tech’s name. Ie. not proof of anything.
I’m sure I saw they were up to 500k affiliates now. I know one of the big players in Perth is having 1,000 people a week join.
She was also saying last week how she has something like 5,000 packs, that’s $400k alone in her pot of scammed funds.
yup. someone called rory highside has posted evidence that the ethereum mining pool usi tech claims as it’s own, has actually been mining for 221 days ie long before usi tech claimed to be doing any mining.
so usi tech has just white labelled an existing mining pool to fool investors into thinking that they are seriously in the mining business.
rory highside also points out that this whitelabelled mining pool has only had ONE outgoing transaction of 1 ETH in the 221 days it has existed.
so, obviously^^ this pool is not paying any part of the ROI to affiliates. hence, the only known source of affiliate ROI is new investment, proving once again that usi tech is just a scammy little ponzi:
to all the sillyass reps who are running around on FB pretending they’ve proved USI tech is not a ponzi – Stop! You’re Busted!!
@angjali. It would be good to know who owned the mining pool. Could this be the NDA partner?
So does FX Blue display actual transactions or can a client just make stuff up?
I believe they show actual transactions but anyone can make an account and call it whatever they want. When it wasn’t showing overall losses, the USI-Tech named account wasn’t generating anything remotely close enough to sustain a 1% daily ROI.
Thanks for posting that. I’ve had a long day but will do my own research and have an article up on USI-Tech’s bogus ethereum mining pool first thing tomorrow morning.
I hope the next “proof” is about that magic energy box. Its by far my favourite and the most entertaining lie I’ve heard in this particular ponzi.
My buddy keeps throwing this scam in my face and telling me hes gonna retire. I heard hes cashed out everything he has and put it all in this scam. Zero fucks given if he loses it all.
I havent figured out how many people hes conned into it but I’ve personally stopped quite a few from doing it.
Most of the comments here have been that usi tech is a ponzi. Can someone please give proof that it is a Ponzi?
Using newly invested funds to pay existing investors a 140% ROI makes USI-Tech a Ponzi scheme.
Ask any USI-Tech affiliate to show you an audited accounting report proving external revenue was used to pay them a ROI. There’s your proof.
Give me a few hours. Putting today’s news articles together.
@TerrenceB Read the above comments.
I am waiting on pins and needles for this con to collapse and to see the assholes pimping it get what is coming to them!
all the ponzi pimps like calabro that are in it that don’t do legitimate.
Oz – Where is the proof that Usi uses newly invested funds to pay existing investors their returns?
What goes in must come out in a scheme promising a 140% ROI.
No verified evidence of external revenue used to pay ROIs means affiliate revenue is USI-Tech’s only source of ROI revenue.
jc It’s common sense really. 50 euro package in, 17.5euros to the uplines means they have no other choices. If they did, the certified records would have been provided. If they could prove it, they would have 500,000 more people join up in a day. Sadly it’s the classic ponzi
Companies like USI-Tech trick the public into thinking they are legitimate because they actually produce revenue. The ignorant public thinks they are legitimate because they really are creating revenue from mining, or trading, or whatever.
The truth is they are NOT producing enough revenue to even come close to the promised ROI to investors. It is a fake fascade to appear legitimate. It is a Hybrid-Ponzi. the vast majority of ROI paid to investors still comes from new investors money.
If audited proof of revenue generation is eventually delivered as promised back in April by USI-Tech, it would have to show at least 1% daily. If they’ve taken in $300M then they would need to prove that they are generating at least $3M daily. That doesn’t include revenue for company expenses or profits.
You also must consider that they actually would need to generate about 2% daily revenue just to cover the promised ROI to investors.
They actually only have about half the money in “trading”, if you estimate that about half of the invested funds are paid back out in MLM bonuses and commissions. That leaves them with half the money to generate trading revenue from.
Of course, any educated person with common sense without an emotional attachment to USI-Tech can see right through this scam.
If any of their claims were really true they would attract trillions of dollars from the financial world. If they really had the secret software to generate 1% daily profits, then the professional traders on Wall Street would be knocking down their doors investing trillions of dollars.
If they really had technology that creates free/super-cheap energy, then country governments world-wide would be pouring trillion of dollars into them.
Obviously they can NOT deliver on their hyped up claims. but they can fool the average Joe and Jane public with get-rich-quick stories. History has already proven that these scams always collapse, just look most recently at Gladiacoin and Jetcoin that had similar easy money scams.
They always collapse when the new money coming in is insufficient to pay the old investor’s ROI. You always see tale-tale signs of payout slow-downs, or new withdraw rules, or circumstances outside their control (i.e. blockchain problems), or new incentives that keep your money inside the scam.
You don’t need to look very far to see all these signs happening with the grand-daddy Ponzi scheme of all time with One-Coin. The Scamming Principles are the same, just under new names like USI-Tech.
“Greed Blinds Many Eyes”
How can we help get USI-TECH shut down by the appropriate authorities in Europe, America or Australia?
Sadly I have several good friends that are “all in” with USI-Tech, and one of them sent me this “video proof” that USI-Teach is supposedly not a Ponzi scheme:
(Ozedit: marketing video link removed)
I just wanted to scream at the computer. There are so many things wrong with this video, but I’d love to see a “peer review” of it here.
1. Mike on this video admits he was a poor student in school. This is suppose to give us confidence he knows how to educate us. NOT!
2. Hey this is legit because we’re making a lot of money. Bank robbers and drug dealers say the same thing.
3. They give their own definition of a ‘Ponzi Scheme’ that is half-baked, half-true and therefore very misleading. They do so to setup a straw man argument to justify what they are doing.
4. They claim USI-tech is not a Ponzi because we have Forex, Arbitrage, Mining, etc. – but they provide no evidence that this is where they are getting the money to pay their huge returns. Later you’re told to just “believe them by faith”. NOT!
5. They claim they are legit because Ponzi schemes go out of business fast. Depends on your definition of “fast”. This is a stupid reason.
6. The main person on this video is “Mike” and he claims he knows this is not a Ponzi Scheme because he met the “owners” and he says “I looked them in the eyes and they are not scammers.” – Yeah they think their viewers are stupid enough to swallow this.
So what else do you folks see that is scary and false in this video???
Happy, you make some great points. I’d also like to add that the guy in the video “Justin” is a career scammer: ethanvanderbuilt.com/2013/11/18/justin-verrengia-scam-artist-yes-opinion/
And, USI is Multi-level marketing: financialindustryscam.com/mlm.htm
It’s a Ponzi marketing video, it’s all bullshit.
I remember Justin V. from back in the day with Empower Network, celebrated newbie money maker by David Wood. I’m not surprised to see him surface here.
What “marketers” are best at is selling a dream. The dream of easy money for nothing with minimal invest and effort to ppl who are mostly broke or poor and are seeking desperately to better their situation, bying into the many rags to riches stories by the top few, which Justin is part of as well.
My opinion from watching on the sidelines for a few years now.
Perhaps someone here can say if I am correct:
If I buy say 10 Bitcoin Packs for 500 Euros then someone else, or more than 1 person, has to buy 1.4 times my 10 packs = 14 packs to enable me to receive my 140% return.
And then someone or more than 1 person has to buy 1.4 times 14 packs = 20 packs to enable those 14 pack owners to get their 140% return. And so on!!
Trouble is nobody in a Ponzi scheme is satisfied with one return. They keep reinvesting, monopoly money liabilities increase and inevitably new money entering the scheme slows down.
Over time losses increase exponentially, with most of the money winding up in the hands of the owners/early investors.
Madoff’s scheme ran for decades.
Another big announcement coming on the 20th. I can’t wait
A couple of you have been screaming Ponzi! Ponzi! since July. When someone on this thread asks for you to give proof of how it is a ponzi, you say they pay you a return of 140% PONZI!!!!!
I have been looking at this thing and trying to stay unbiased. I see things that come off as big red flags. A lot of which have been mentioned above.
When I acquired BTC (Ozedit: Bitcoin is not an MLM Ponzi scheme promising you a 140% ROI. Strawman derail attempts removed.)
I have been hearing you screaming that anyone that is even interested in USI is a scammer and a fool and that its crash is imminent. Is it?
You have commented above that no one is interested in the coins. They have sold or given as part of the BTC package over 80 million coins. Sounds to me like there is more than a little interest there.
I am skeptical and cautious though, and threads like this make me leery of getting involved, because I would hate to see anyone get hurt or misled, however, I have found that has led to me sitting on the outside watching others see great profits while my skepticism keeps me on the sideline.
Now go about beating up my comment and trashing me like you like to do.
My money’d be on the acquisition of another Chinese mining pool, only this time bitcoin.
If you wish to invest in Ponzi schemes, have at it. Yes you’re a gullible dumbass but personally I couldn’t care less what you do with your money.
The purpose of BehindMLM is to report facts, namely in relation to USI-Tech that it’s a Ponzi scheme and documentation of its inevitable collapse and investor losses.
Distributing a worthless altcoin as part of a bitcoin Ponzi scheme doesn’t equate to genuine interest in USI-Tech’s shitcoin. Nobody is interested in it outside of USI-Tech, and we all know an altcoin cannot survive on the coattails of an MLM Ponzi scheme alone.
Hell, even the dedicated MLM altcoin schemes collapse. A free coin add-on MLM altcoin is just worthless marketing fluff.
Well feel free to look up any of the major MLM Ponzi scams over the past decade (Zeek Reward and TelexFree come to mind) and you’ll see extensive coverage detailing billions of dollars in investor losses.
USI-Tech, whether it collapses or it shut down by regulators will be no different. Do what you will, we’re not here to convince you otherwise.
Getting butthurt over being labelled a gullible dumbass for chasing Ponzi riches on the other hand… you’re on your own there princess. It is what it is.
Jeff – seriously how could you put your money into anything that doesn’t show you how they earn their returns apart from general statements.
35% of the original investment disappears to the upline pimps and scabs on day 1. So they wave the magic wand and grow the remaining 32.5 euros back to 70 euros in 140 business days.
Such a programme would command a couple of billion dollars on the open market. It’s easier to believe in the fairy that lives at the back of my garden.
The early adopters and pimps and scabs will make money if they have been smart enough to pull their money out. Classic Ponzi.
Quick question for you:
Why do you refer to what USI-tech gives you as a “coin”
Even 5c, 10c, 20c and 50c coins have more value than what USI deals in.
Jeff – 80 million coins divided by a reputed 500,000 members is a huge 160 coins on average per member and a lot of the coins are free and bonuses. I would have expected a more enthusiastic uptake.
Again, more name calling, no facts, (Ozedit: Snip, see below.)
Fact 1: There is no evidence USI-Tech uses external revenue to fund affiliate ROI payments.
Fact 2: Using newly invested funds to pay off existing investors makes USI-Tech a Ponzi scheme.
If you have facts to the contrary that you can prove with evidence, feel free to share. Otherwise kindly cease and desist wasting everyone’s time with your derail attempts.
gawd you’re such a sniffler. and oz hasn’t even called you a porkchop yet! 🙂
Jeff I own Bitcoin bought directly from an exchange. No need to make Ponzi groupies like James, Ghobril and Calabro any money for doing nothing
I asked if anyone here had proof that Usi Tech is ponzi and also if there is any evidence of Usi using new investors funds to pa the existing investors. so far no one has provided any evidence.
the only evidence cited that Usi is a ponzi is the fact Usi have not released evidence of their income, therefore it must be a ponzi. But the reverse logic could also apply: as there is no evidence usi is a ponzi therefore it isn’t a ponzi.
Why would any company divulge details of their revenue streams? (Ozedit: Snip, see below.)
because by law, they HAVE to. it’s just that simple. you are not going to get your money back.
We’re not talking about “any company”.
We’re talking about an MLM company soliciting investment from the general public on the promise of a 1% daily ROI.
Said company claims to generate revenue from any number of sources, none of which it has provided any evidence of.
At the very least USI-Tech needs to provide SEC registration and disclose to the regulator itself evidence of external ROI revenue generation.
Basic MLM due-diligence when it comes to any investment opportunity requires an investor to verify any and all claims made by a company.
The only time someone goes “U wot mate? U want my money and you’re going to give me a 1% daily ROI and you’re not going to provide any evidence to prove you’re not a scam? No worries mate, here have my money!”, is when Ponzi greed takes over.
This is false logic. Stop being a dumbass.
You cannot ask for proof of a negative. The onus is on the party making a claim to provide evidence to verify it.
Look if you want to make excuses for Ponzi schemes awesome. Invest away and don’t look back.
The fact of the matter however is that USI-Tech are offering a security and making outrageous return claims. They need to comply with regulatory laws, regardless of what you think.
Oz, you are the person making claims that Usi is a ponzi, therefore by your own admission you should provide evidence to back up your claims.
in response to the absence of evidence provided by USI-Tech to verify their initial external ROI revenue claims.
There is no reason for a legitimate company to be offering unregistered securities in the US, unless they are a Ponzi scheme committing wire fraud.
Nice try though.
You cannot provide any evidence at all that Usi is a ponzi. Simple maths prove that it cannot be.
Looks like Canada, or at least one province is catching on!!!
Also JC must not know “maths” if he thinks this is real.
Just curious. You have no concerns about notorious Ponzi pimps, who have promoted scams in the past, are now promoting USI? You do know that USI is littered with them don’t you?
Perhaps you are one of those Ponzi pimps? Idk, just asking because anyone who disregards this information would seem a fool.
Char, there is no information or evidence that Usi is a ponzi, I assume you don’t have any either. What information are you referring to? The only information here is people’s opinions, no facts that Usi is a ponzi have been presented.
I couldn,t care less what other people have done in the past, just because someone was involved in a ponzi scheme in the past doesn’t make them responsible for that scheme.
The issue here is about Usi Tech being a ponzi and so far a lot of people have said it is a ponzi but not one person has come up with any evidence that it is.
I am sure people will be irate when I say this: usi Tech is not an MLM company per se, they use MLM instead of conventional advertising and marketing. I await a lot of derogatory comments!!!!
Think about it: currently Usi have approx. 800,000 members in over 70 countries, how much and how difficult would it be to attract that number of people, using MLM grows the business easily and relatively cheaply.
I know, someone will say that is more money for the owners etc…. but so what, EVERYONE in Usi Tech has made and is making money. The owners travel the world attending meetings and talking to people.
Ask yourself this: if Usi is a ponzi and the owners knew that, why would they do all this? As soon as the ‘ponzi’ fell apart the owners would be in jail before you had time for your next beer!!
No member has any obligation to sponsor/recruit anyone else, there is no joining fee nor is there any monthly fee.
As I have said earlier, simple maths proves it cannot be a ‘ponzi’, there are not enough bitcoin is existence to have kept the ‘ponzi’ going for 9 weeks never mind 9 months
People here have been talking about the tokens that have been for sale for the past 6 weeks, as of now 82,775,900 have been sold, correction make that 82,801,700, that is SOLD. The free tokens are not included in this total nor are the bonus tokens.
For your information I have never been involved in any MLM scheme.
What are you getting at here and why would it be any different if USI was legit?
Keep in mind that people only have a huge balance on screen, most people do not cash out, why would they (unless they know it’s a ponzi scheme)?
JC There was no proof that all the historical ponzi’s were scams until poof, the money was gone.
USI displays all the symptoms of historical MLM Ponzi scams. If it walks like a duck, quacks like a duck and swims like a duck then it must be a duck. Your logic says its a monkey.
JC – the owners are in it for the money. The one that is banned from dealing in the financial industry in Portugal doesn’t show his face anywhere.
Ralf Gold is an out and out bullshitter and lives in a non extradition country. Even known scammers like Charles Scoville of Traffic Monsoon infamy agree its a scam.
Ponzi pimps are all into USI because they recognise the signs of all the scams they have previously flogged i.e easy pickings.
Tim, not sure what your point is. People here say it is a ‘ponzi’ and that for every 1 btc pack bought another 1.4 packs have to be bought to pay back the original 1 pack + 40% profit.
So they infer this is new btc being put into Usi, so for every pack bought, and there are millions now, the amount of “new btc” required to sustain the ‘ponzi’ grows to enormous levels, far beyond the number of btc in existence. Hence it is impossible to be a ‘ponzi’
The point people seem not to understand is that being ‘legit’ only needs approx.0.27% per working day as profit, the rest is capital returned. This profit is easily achievable from mining and trading.
I did ask people to correct me if I was wrong in their assumption of the ‘ponzi’, no one has corrected me so that is what I based the maths on.
I doubt if anyone is cashing out as such, only withdrawing part of their profits.
Cryptoskeptic, what are the symptoms you are reffering to?
Go to the SEC website, search for USI-TECH, have a look at the PDF top result and see if anything seems familiar.
This assumes that the money is actually there to pay everyone their earnings, which is almost certainly isn’t. Unless everyone cashes out, it’s just numbers on a screen.
Tim, read that, I didn’t see any reference to Usi Tech. That is good advice for anyone to give, I agree with it.
I will repeat though, why would the wealthy owners of Usi including now Evan Ahern who is very wealthy risk everything by being the public faces of Usi and travelling the world when they know it is a ‘ponzi’ and risk being jailed and losing everything?
Considering the size that Usi Tech has grown to and the number of countries they are involved in I would imagine many countries would be fighting to lock them away.
So why risk that?
Tim, how do you know the btc isn’t there? You are making assumptions with no proof
As a rule, it’s pretty hard to prove that something doesn’t exist, it’s usually easier to prove that something does exist but USI won’t do that.
Another rule is that “if it sounds too good to be true, it probably is” and that’s the main reason why I believe my assumption is a safe one.
You can throw up all the excuses in and justifications in the world.
USI-Tech has no external ROI revenue and therefore pays existing affiliates a 140% ROI with newly invested funds.
“Simple math” dictates that paying people 140% of their own money with no external revenue source is not sustainable.
Reinvestment of monopoly money doesn’t pump new BTC into USI.
Ponzi scams that offer reinvestment like USI-Tech see original investors invest a few thousand, reinvest their recruitment commissions, build huge internal balances and then proceed to drain what’s actually invested over time.
When there’s enough people with large enough internal balances doing this, the scheme collapses (withdrawls strip actual new investment).
Remember, new investment is only generated when someone creates a new account and invests directly into USI-Tech (not their upline).
USI-Tech’s monopoly money backoffice amounts has nothing to do with the total supply of BTC in the world or a 0.27% daily ROI.
To be legitimate one can not fudge numbers and claim to be making enough just to sustain withdrawal requests. Actual claimed ROIs have to be generated and in USI-Tech they’re not (because no legitimate ROI revenue is generated).
Charles Scoville tried to pull the “but I have enough money to honor withdrawal requests” defense. It failed, because on paper Traffic Monsoon had nowhere near enough money to pay actual owed amounts (every single ROI ever matured).
USI-Tech are an MLM company engaged in Ponzi fraud and that’s all that is relevant. The “proof” you want is of external revenue, and USI-Tech have failed to provide that for going on six and a half months now.
Instead you’re on here demanding proof of a negative. Obviously your first rodeo. Best of luck with the scamming.
Yet here you are debating Oz and other posters who have decades of experience.
Oz, You have me confused when you say:
Which is it? Does usi pay existing affiliates with new funds, or do they pay them with their own money?
It has been stated here that for every btc pack bought then 1.4 btc packs of new btc need to be bought to pay the first pack holder back. I did ask if that is my correct interpretation of the ‘ponzi’
Please explain how anyone can invest in their upline when all packs are bought from Usi?
I am not demanding anything, I was merely asking what proof there is for Usi to be a ‘ponzi’. So far no proof has been forthcoming, only people’s opinions.
I assume you have seen the usi Ether mining? Or has that been faked? The Btc mining stats will be displayed shortly, will that help to satisfy you?
Char, decades of experience don’t count for much when someone is missinformed
Withdrawals are paid with recycled newly invested funds.
Reinvested ROIs aren’t paid out. They’re just numbers on a screen that exponentially grow until withdrawal requests are made.
That’s for new investment from a new affiliate. Existing affiliates roll over ROI payments (no money leaves USI-Tech) and reinvest more for a larger 140%.
They do this over and over again, till they have enough of a monopoly money balance to start withdrawing from.
This has been going on in MLM Ponzi schemes since at least Zeek Rewards. The process contributes to massive headaches when it comes to victim fund recovery and has been extensively detailed by both the Zeek Rewards Receiver and TelexFree Trustee.
A USI-Tech scammer recruits you and you pay them (not USI-Tech) 50 EUR for a pack.
The scammer creates a affiliate account (or gets you to create it and then logs into it), transfers an internal credit balance of 50 EUR from their account into the new account, which is then “invested” into USI-Tech.
I wasn’t aware this was going on in USI-Tech until someone mentioned it in the comments earlier this week.
The proof is USI-Tech’s failure to provide any evidence of claimed external ROI revenue. I’m getting sick of repeating this.
Please stop wasting my time. Nothing short of audited accounting verifying external revenue is being used to pay affiliates a ROI is proof USI-Tech isn’t a Ponzi scheme.
Jc – you are easily confused. That’s why you are in it.
Is this Jc geezer having a laugh. notorious ponzi pimps promoting this rubbish and there’s no concerns lol.
The sort of “proof” you require won’t become available until after a) the authorities move in or b) it collapses.
Whether or not that is enough for you makes no difference.
In fact, I think you should double or triple your investment.
Why not sell the farm, borrow against your credit card, Convince your parents to invest their life savings??
It’s a sure thing, right??
That’s because his ego is being played by the scammers.
His upline is probably telling him that the bloggers are all negative and jealous. That HE can see USI’s vision and he is smart for getting on board. That USI is positioning itself to be the most successful MLM in history and going to take the world by storm.
They see him as a forward thinking go getter who knows where the future is going; and he will be walking across the stage soon with all the big leaders and driving a Bentley too.
Sound familiar JC? ROTFL
Ponzi playbook #102 – Boost the marks ego. Give him some homework and distract him with calculations and/or ingredients. A good scam will always have some element of plausibility.
Yawn. Seen it all before.
usi tech pays recruitment commissions over several levels, so it is an MLM pyramid scheme. usi tech also pays out ponzi ROI on investments made by idiots like you, so it’s a ponzi scheme.
in short, usi tech is a ponzi/pyramid hybrid where recruitment is not compulsory, but recruiters reap more rewards.
when a business offers any ROI on investments, it is supposed to register itself with the SEC in the USA, or it’s equivalent in other countries in the world. usi tech hasn’t done that because they know they’re running a ponzi scheme.
earlier this year usi tech released a video citing a paid lawyers opinion that it didn’t require SEC registration for blah blah blah reasons.
but critics such as this site, continued to question usi tech’s lack of registration. in a recent interview with ari maccabi [find the video yourself, do some homework] mike keifer , cofounder of usi tech, was very shifty about the legitimacy of the business and made excuses like – we’ve hired new lawyers who are looking into all that.
all you will get from usi tech are excuses, lies, promises for the future, and continual shifting of goal posts to keep the money flowing in.
what you are exhibiting is the ‘believer’ bravado of a newbie and while it’s cute, i suggest you go back to the beginning and understand what ponzi pyramid schemes are.
instead of coming on here with all guns blazing, why don’t you write in to the usi tech management asking them for trading/mining accounts which are enough to generate the ROI they payout, or return your money to you?
please come back with their reply and you will find a receptive audience here.
I know from experience that it’s harder to get the authorities to do something about an apparent scam than it is to get them to react when people have actually lost their money.
Maybe USI have everything so cleverly worded that it’s hard to arrest them. They are careful not to make the expected 140% return an actual promise. I doubt that anyone is trying to arrest them right now.
By the way. If you give me 1 bitcoin, I reckon I can give you 3 bitcoins back in a year’s time. Can I have your bitcoin please? You can’t prove that I can’t do it, after all.
Jc – I wonder why the authorities in British Columbia put USI on a warning list. After all USI is a legitimate organisation making all its affiliates wealthy. They must have made a mistake. Lol
So many comments:
You are partialy correct but it doesn’t work this way. Perhaps (Ozedit: nothing. If you’re going to insist otherwise you’ll damn well provide facts, or kindly cease wasting my time and that of my readers.)
You logic seems to be that if we can’t prove that something is a scam, it should be trusted.
I was trying to point out that you would not trust me under the same conditions so why do you trust USI?
gosh, you’re such a dud. this article was published Here by oz just this morning:
the ethereum mining hasn’t been used to pay any ROI.
a few million on the bitcoin chain wont prove usi tech can cover their ROI liability either.
you be patient and wait for the results of some unknown broker till feb 2018! i already know it’s a load of crock. a small amount of trading wont cover the ROI liability.
it’s good you’re having fun with this ponzi and conversation, but can you please not be an idiot?
Jc if your that confident that Usi is legit why fight it here?
You’ve read the review, got posters thoughts about Usi and you probably already know that you won’t be convincing anyone here that it’s legit cause we’ve seen it all before. If you can’t see sense that’s your look out.
Proof of income != proof of external revenue used to pay USI-Tech affiliates a ROI.
I’m over your derail attempts/strawmans etc. I’ll just be marking them as spam from here if you’re just looking to argue.
Either put up proof of external revenue being used to pay affiliate ROIs or spam-bin.
If this scam had any legitimacy at all. The worlds millionaires would be lining up to “double” and “triple” their wealth. USI-TECH is no secret. Its been getting littered all over teh internet by all the ponzi puppets.
If they cant convince the OG greedy millionaires also referred to as “smart money” then only the uneducated/greedy/both youtube thousandaires are gonna invest.
Oz, it is time for me to take my leave anyway. (Ozedit: Thankyou for confirming you have no evidence of USI-Tech using external revenue pay affiliate ROIs. Bye Felicia.)
Jc – we live in a globally connected world. Will USI inform their affiliates to disclose the British Columbia warning when discussing the issue of USI being a low risk investment.
BTW I’m told todays returns are pretty poor given the explosion in the crypto markets. Guess those expert third party traders can’t get it right all the time, heh. Lol.
Blabing about “proof of income” for USI is like ZeekRewards defenders pointing at Zeekler and yells “you see? There are auctions!”
They don’t want to see the real problem: there wasn’t ENOUGH of them to be producing that much profit “to share”.
Same here. It’s just so it can look a TINY bit more legit to the people looking for signs of legitimacy, rather than the overall picture.
I’m with JC. I came here looking for proof that usi is a scam but you haven’t provided any hard evidence that it is.
I’ve done my do diligence on the company and if anything I see transparency not fraud.
The onus isn’t on someone challenging an assertion to provide evidence of a negative. That’s impossible.
The onus is on an MLM investment company asserting external ROI revenue to prove this is the case. USI-Tech has failed to provide any such evidence, so what “hard evidence” are you talking about?
Either you’re shit at due-diligence (the perfect Ponzi mark), or you’re lying.
A company that lies about external revenue and fails to provide investors with evidence of such is hardly transparent.
Brad – Good on you. Keep hitting the rebuy button for another 140 business days
Enuff said – say no more. This guy is too deep down the rabbit hole to be saved.
See you in a few months in the losers corner crying.
So you have third party verified written proof of outside revenue generated? Or is the transparency you speak of verbal like yours?
Because I’ve got to tell you, I’ve never met a conman who wasn’t transparent – with his words.
What did your due diligence pull up about USI U.K. Leader Sharon James? You are aware of her scamming history – most recently Traffic Monsoon shut down by the SEC because it was a PONZI SCHEME!!! And you are giving her new company your money? She’s just one example of a long list mind you.
WTF is wrong with your brains people? Or are you a scammer too? Be honest.
and won’t be getting your money back either.
if this was so legit, you two turds wouldn’t need to be posting here trying to convince new marks for you to rob.
you know that usi tech ‘branded’ ethereum blockchain you guys are hopping all over the net posting as ‘proof’ of mining and about how ‘transparent’ your ponzi scheme is?
well, your frigging COO/CEO horst jicha did not even mention it in an interview on 16th, dec 2017 while discussing the legitimacy of usi tech. neither did he mention that fxblue trading account that some of you promote as ‘trading proof’ to assist you in your pimping.
you know why? because he knew he would have his ass kicked blue if he tried to sell those lies to people who really do due diligence. he would have been labelled a liar again, just as he was with his lies about the bitfury contract [which he is now covering as a ‘mistake’].
when your own CEO cannot provide any transparency now, but is ‘working’ towards it, how the hell did you see the transparency?
unless in your alternate universe, his admission that he cannot provide transparency seems like a transparency to you? horst jicha is sooo honest. he said he cant provide any proof of trading or mining now. let’s invest some more with this honest guy!
You can now no longer buy packs on behalf of your team members. You can still buy them for your personally enrolled members, which is a small percentage of your downline and they have put a limit of 1 Bitcoin per day on what you can buy.
Apparently buying from your balance and getting the cash paid to you via paypal/payza was so widespread they have had to put a stop to it.
Given the 1 Bitcoin per day limit huge amounts of money have been involved as well as 1 Bitcoin per day is still a large amount.
Ralf Gold said cryptocurrency trading was done by third parties who did not want to be named
Horsch first said Bitfury was their go to cryptocurrency miner, now it’s an unnamed party who is going to cream $70 million.
USI has an unnamed firm of accounting experts.
It may be only me but it looks like no one wants to be associated with this smoking pile of crap.
Oh yes, there is someone called Ahern who is going to generate free energy and blow hot gas up investors backsides.
One for the ages.
This is an exerpt from a post by Michael Faust (Digital Tycoons) ponzi puppet. It’s absolutely hilarious
What a load of shit!!!!
1. Attempt at legitimacy by association = fail
2. Fact: There is no evidence of USI-Tech using external revenue to pay affiliate ROIs
3. Attempt at legitimacy by association = fail
4. Attempt at legitimacy by association = fail
5. No evidence of contract = fail
Thankyou, come again.
That will kill recruiting. Not that it was generating additional revenue for USI-Tech to pay affiliate ROIs with any way.
Deffo on the decline if they’re playing loose and fast with affiliate withdrawal rules.
It’s pretty easy to check whether Evan Ahern really owns “over 50 companies”… Go to Nevada corporation search and see for yourself.
Even according to Evan Ahern’s Linked In Profile, he has primarily been involved with three industries:
1) Ahern (equipment) Rentals;
2) Ahern IT LLC (this is somewhat relevant providing IT solutions and services);
3) Xtreme Manufacturing (don’t see the relevance).
There really is nothing about his profile that would make him a good fit/major player for USI-Tech, or if there is anything about his background that would be of benefit to USI-Tech in any major capacity.
My guess is he probably just “invested” a lot of money into their bitcoin packages, and has forced himself to the top of the food chain.
Do we have confirmation of Evan Ahern’s association with USI – by him? I saw some videos of him being talked about, but didn’t see one with him actually in it. I may have missed it though.
Then, if there is indeed an association, are we sure Evan Ahern knows what he has gotten himself into?
The revered creator of the phoney forex crypto platform (see f). Banned in Portugal for a previous scam.
Must be a mistake. Evidence is coming soon, coming soon…
I am curious how this posts as Dec 21 2017 when I am reading it today which is only Dec 20,2017?
Is this a scam by this site? Or do they know what people will post in the future…?
So Lyoness has just been called out in Poland. Look who was promoting it a few years back. You guessed it Ralf Gold.
Very dapper looking bloke:
Do I really need to explain the concept of global time-zones to you? I believe it’s covered in elementary school.
Apologies if you didn’t make it that far.
Dapper? Dude is rocking a coat of Lurch proportions. Needs to knock it down about five sizes.
You see Jim. The world is a wide and vast place…. Divided into timezones. So you can “believe” in USI-TECH, but not quite sold on timezones yet eh bud?
I wonder how many “youtube financial crypto gurus” are racing to erase their videos now that its all coming down? Everyday its like I see 5000 new ones that “guarantee!” this was legit lol.
Let the fun begin…the hammer is dropping in the State of Texas…
(Ozedit: See here – https://behindmlm.com/mlm/regulation/usi-tech-securities-fraud-emergency-cease-and-desist-issued-in-texas/ )
It’s a shame Bob’s post got deleted because I really wanted to know what he thinks Oz has to gain from this “scam”.
Anything offtopic/derail/strawman gets nuked.
Ponzi schemes collapsing turn people into raging little gnomes but that’s not my problem.
Im going around and posting all three fraud alert links on every USI-TECH youtube video.
I feel like Oprah, “And you get a fraud alert! And you get a fraud alert!” “Fraud alerts for everybody!!”
The USI legal opinion that affiliates use to provide evidence of validity can be viewed here:
If Hart, David, Carson, LLP actually wrote this, they should be sued for malpractice.
In reality, I think some affiliate (or USI) copied something written by HDC and pasted it into a PowerPoint so they could show it at their London launch event. It’s my understanding that it was also sent to all affiliates via email shortly afterwards.
Maybe someone should contact HDC to ask if they still represent USI.
I’ve emailed them.
Maybe Ralf Gold gave one of his BS presentations to HDC on how the packages work and they said “Good to go”.
NOVA SCOTIA!!!! NEW INVESTOR ALERT!!!! OZ PLS format correctly.
Frank Calabro Jr. Response: (Ozedit: Link to non-public video removed)
No permission to view that video so link removed.
Thanks for the heads up Dickie!
Thank you Oz for all the countless hours and vigilance.
Heres a fun fact!!!! look at this…
This shows the total amount of DAILY TRANSACTIONS of bitcoin since last january. Now its simply clear that USI-TECH isnt making 300 000 daily payouts because there just isnt that many transactions. EVER!!! There ISNT.
Its blockchain, its in the fucking ledger. Its literally impossible. UNDISPUTABLE!!! #amirite?
Wow, the USI Scam Facebook page has been taken offline?
Maybe the top lawyers from Usi have had it closed down.
Usi tech “the ponzi that won’t die”.
I saw that, I hope it’s back up! So much great information between that page and here.
I too noticed the Facebook USI scan page got taken down.
In menory of the page and as a xmas special, here is a compilation of the responses from the “leaders” and their responses to the Texas cease and desist .
Here is a really good take on the whole USI Texas thing from Tony Rush:
this is usi-tech main wallet. or at least one of their main:
here is the second one:
I dig into this following my withdraw transaction on the blockchain. I have purchased 10 BTC package in August.
Then realized it a scam (too many red signs) since then Im withdrawing my bitcoins. im still not even. couple days left.
Im sorry for all those people who still think its a legit business (I have some family there, but they dont want to listen).
the page says:
Sorry, this content isn’t available right now
i have put in a request to FB via their ‘feedback’ portal to do the right thing and put the page back up. i provided links to the warnings against usi tech in the US and canada.
hope the admins get their page back, it’s really unfair.
Dan and Patti Hunt from PA, and Professor David Frost from Bethany College in Kansas are the top “master distributors” in the USA, with plenty of Texas buyers in their team after a recent event in Dallas. Will the SEC help in The recovery of funds?
Ponzi Pete what s fantastic youtube video it takes a lot of editing to create ..hats off to you.
Can somebody help me. A guy called Rossco Paddison who is a known USI-tech pimp (promoter) is running a Bitcoin (USI-tech) event in January on the Gold Coast.
Is there any possible way to get the attention of ASIC to somehow put a stop to it so nobody is sucked in by Rossco’s scammy seminar?
Maybe you can call where the event is being held and inform them about USI-TECH.
All you can do is begin to inform as many people as possible about what is going on.
People get sucked into things mostly by lack of information.
You won’t prevent others as their greed and herd mentality will just keep them involved no matter what you tell them.
Just do what you can.
My contacts say payments have definitely slowed down. Payments shown as pending on the USI website aren’t showing up on the blockchain 5 hours later. People must be storming to get out what they can.
Another 19 hours passed and still no payments. The icicles are starting to form.
The excuse for slow payments is advice from Bitgo that processing times are longer than normal. They think their clients are accepting fools.
Payments have not even appeared on the blockchain after 48 hours.
I email them too, three times over three days. Never got a reply. Their website was down for three days, too – a very big oversight on their part.
Even the guys in India, the Phillipines or Brazil , wherever their servers are, need a break over Christmas. But payout processing time has definitely slowed. A red flag.
ive just watched a video with one of their ponzi pimps who has a copy of their white paper showing their slides. it is apparently another paymentcoin whith a debit card. poorly photoshopped.
MLM cryptocurrency scams have hijacked the term “whitepaper”.
In the MLM underbelly a cryptocurrency whitepaper is just marketing with comp plan documentation.
Does the white paper say when the 3 million ATM machines start rolling out?
Ralf Gold will be busy with his affiliates, sticking USI stickers all over existing ATM’s and yelling “See these are ours”.
@Joc – can’t wait to hear who makes up the Development team. No doubt Severino will head it up from his bunker in South America and the rest of the team will probably be subject to NDA’s. I hear Ralf Gold is enrolled in a Programming for Dummies course as I write this.
Dear OZ, one of my friends asked how many of your calls on scams have turned out to be wrong and the business turned out to be legit.
Not counting the ones still going around and yet to fold. Thanks in advance.
None, because I don’t make “calls”. Analysis of a business model comes down to flow of money.
Unless the company is being deceitful in their compensation plan, identifying an MLM scam is as simple as “follow of the money”.
Watching USI-Tech unfold is the same as any MLM Ponzi. You have the same affiliate types making the same claims and ignoring the facts in the process.
After almost ten years I’d like to be able to say I’ve seen everything the MLM underbelly has to throw around.
The MLM crypto schemes going around are simply the same old scam models in different wrapping.
I have just heard via Usi con artists that it has been banned in Usa and Canada.
Anyone heard the same?
I posted on the more current thread, but it looks like USI-Tech just closed operations in the U.S. and Canada, effective immediately.
They claim to pay out current distributors, but I don’t know how that will work. Looks like that’s it.
You can listen to the field leadership response here: m.facebook.com/USIUSA/
Apparently, USI-Tech is blaming the field for using unapproved marketing technics, and claiming that is why they shut down. What a hoax. They were just marketing what the company was offering – get-rich-quick, too-good-to-be-true crypto-scams.
They always come up with some excuse why it wasn’t their fault and why some external force corruptly caused their demise.
When will people ever learn. We’ve seen it over and over again. Need we remind people about OneCoin, iNetPro, Gladiacoin, Jetcoin, Yocoin, TCC, BitQy, and on and on and on…
Unfortunately, most of them will be chasing the next scam…
@ Jeff – how do you like them facts?
So i was an early investor and i pulled out over the last few months because something seemed fishy.
The USA leadership has no clue. No one does. The owners haven’t said a word.
Looks like a cash grab. Deposits haven’t cleared wallets and they took the weekend – 5 days a week payout to run If we get paid Mon/Tues I’ll be surprised.
This just collapsed and i’m out $500. A lot of people who are stupid are out $$$1000’s-100,000
The main entry point to make maximum profit was $6000, i have a feeling hundreds or more lost that.
At long last – the USI TechCoin White Paper!
I’m not a techie, but it doesn’t sound like anything new or unique to me. It would be very interesting to hear what a true crypto professional has to say about it.
-where is the money? What is wrong with taking back what you put in?
Effectively you are stealing from others?
The money is all gone. Doubt if anyone in the world is getting paid.
Horsch Shit and his gang have disappeared. First person to see any of them gets a free BTC package.
(The fixed link is: usitech-promoter.com/wp-content/uploads/2018/01/TechCoin_Whitepaper_final_1.0_English.pdf )
This is pure marketing, with hardly any technical information and with the little information provided mostly a statement of intents — what they claim to be aiming at, without saying how.
For example I would wonder how their very ambitious latency goals can be met; the thing would require quite an impressive infrastructure, and an aweful lot of bandwidth.
But of course we all know the thing will only ever exist in the marketing land of promises, and made up promises are cheap.
(I am a computer scientist, but not a cryptocurrency professional.)
Sounds like pure BS just like the BTC packages. If you invested you are an idiot
hope I will be a rich idiot.
Do the lottery then. You’ll still be an idiot but you have a chance (albeit small) of being rich.
The ponzi keeps going. I see the USA is back in operation.
Nah. They’re accepting new investment with no date for payouts.
USI-Tech management seem to think continuing to offer unregistered securities but not paying anyone puts them in the clear.
Popcorn is ready to go, should end well for them.
Horsch Shit just wants to see how stupid and gullible the yanks are.
I notice that even when people try to agree with you, if it’s not 100 percent what you want to hear you jump all over them.
There’s a lot of good discussion in here if you care to hear it. You’re right that USI-Tech hasn’t proved the have an outside source of income, and they aren’t running a pozo scheme. At the same time, they very well might.
They were working with wealthy investors before this btc pack thing came around, investors who don’t just throw their money away without doing research.
USI-Tech may prove to be a legit company, as I suspect, and I wonder if any of you will be confident enough to apologize for all the terrible things you’re saying about them, and people who are contributing their comments.
I’ve made a lot of money with USI-Tech.
Can’t wait to see how you break this down and call me a terrible person. I’m really not, just rational and trying to see both sides.
There’s only one side to a Ponzi scheme: Scammers ripping off gullible idiots who believe anything despite presented facts.
Of course you have. The only people who defend Ponzi schemes are those who’ve stolen money through them or those hoping against hope they haven’t been scammed.
USI is a dead duck.
We will be waiting to see that apology really soon!!
So far there are not any side other than the ponzi side to consider.
You probably too dumb to see that at this point because you probably have invested so heavy that you hate to say you lost!
@John Thompson. Looking at it rationally eh. 4 thieves hiding out in non extradition countries with the US. Innocent as new born babes
The usi ponzi keeps going.
Yes, it looks like nobody will get their money back. Only the makers, Horst Jicha and his wife Fatima, who enjoy life at your expense.
They have now bought a nice big apartment ($8 million) in Receife, Address: Rua dos Sapotis S / N Bairoo Reserva do Paiva, Estado Pernambuco, Condominio Vila dos Corais, Torre 3, Apto 601 Sul, Receife 54.522-125.
Porsche Cayenne, fireproof around $ 100k, in 75135-525 Anápolis – Brazil, there is a Manson for around $ 2mio, in Mallorca there is still a little house with around €6 million, some nice cars and so on, Dubai, Germany, Lichtenstein.
I know both of a party in Mallorca, where Fatima has also told me a lot of what is going on where. Have always looked again what happened and found, there is no work, just sayings knocked and ripped off what’s possible.
Maybe you can do something with my information, to get your money back.