Virtual Mining Farm Review: A virtual Ponzi is still a Ponzi
Virtual Mining Farm provides no information on its website about who owns or runs the company.
Virtual Mining Farm is primarily marketed across Central and South America. Alexa currently cites Venezuela, Mexico and Cuba as the top three sources of traffic to Virtual Mining Farm’s website.
Virtual Mining Farm’s website domain (“virtualmining.farm”) was first registered in 2017. The private registration was last updated on February 12th, 2019.
Virtual Mining Farm’s website Terms and Conditions states:
This Agreement shall be governed and construed in accordance with the laws of British Virgin Islands.
The British Virgin Islands is a scam-friendly jurisdiction with little to no active regulation. It is highly unlikely Virtual Mining Farm has any actual business operations there.
As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money.
Virtual Mining Farm’s Products
Virtual Mining Farm has no retailable products or services, with affiliates only able to market Virtual Mining Farm affiliate membership itself.
Virtual Mining Farm’s Compensation Plan
Virtual Mining Farm affiliates invest bitcoin on the promise of daily returns.
Exact amounts or estimates of daily returns aren’t provided on Virtual Mining Farm’s public-facing website.
Virtual Mining Farm pays referral commissions on initial investment and residual commissions on withdrawals, both via a unilevel compensation structure.
A unilevel compensation structure places an affiliate at the top of a unilevel team, with every personally recruited affiliate placed directly under them (level 1):
If any level 1 affiliates recruit new affiliates, they are placed on level 2 of the original affiliate’s unilevel team.
If any level 2 affiliates recruit new affiliates, they are placed on level 3 and so on and so forth down a theoretical infinite number of levels.
Virtual Mining Farm caps payable unilevel team levels at thirty.
Referral commissions paid on bitcoin invested across these thirty levels is as follows:
- level 1 (personally recruited affiliates) – 10%
- levels 2 to 30 – 0.7%
Residual commissions are capped to five unilevel team levels.
Residual commissions paid on withdrawal requests across these five levels are as follows:
- level 1 (personally recruited affiliates) – 20%
- levels 2 to 5 – 0.5% to 5% (exact percentages not provided)
Joining Virtual Mining Farm
Virtual Mining Farm affiliate membership appears to free.
Full participation in the attached income opportunity requires investment in bitcoin.
No minimum investment amount is provided on Virtual Mining Farm’s website.
Most MLM cryptocurrency company’s ROI ruses are virtual in nature, in that they don’t exist.
Virtual Mining Farm doesn’t try to hide the fact that nothing is going on behind the scenes. It’s all virtual, meaning nothing exists.
The problem with being honest about running a Ponzi scheme though is that it’s still a Ponzi scheme.
Furthermore Virtual Mining Farm still has to abide by securities laws. Virtual Mining Farm makes no representation on its website that it has registered with financial regulators in any jurisdiction.
As with all MLM Ponzi schemes, once affiliate recruitment dies down so too will new investment.
This will starve Virtual Mining Farm of ROI revenue, eventually prompting a collapse.
The math behind Ponzi schemes guarantees that when they collapse, the majority of participants lose money.