Vista Network Review: Bitcoin & ethereum 80 day doubler Ponzi
Vista Network provide no information on their website about who owns or runs the business.
The Vista Network website domain (“vista.network”) was privately registered on May 29th, 2017.
At the time of publication Alexa estimate that the US is the largest source of traffic to the Visa Network website.
This suggests that whoever is running Vista Network is also likely based out of the US.
Update 8th January 2018 – In a company web conference held on January 6th, in response to the recent regulatory crackdown on USI-Tech and BitConnect, the CEO of Vista Network is revealed to be Armen Temurian.
According to his Facebook profile, Temuian is based out of California in the US.
Why this information isn’t provided on the Vista Network website is unclear. /end update
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.
Vista Network Products
Visa Network has no retailable products or services, with affiliates only able to market Vista Network affiliate membership itself.
The Vista Network Compensation Plan
Vista Network affiliates invest 0.05 to 8 bitcoin and/or ethereum on the promise of a 200% ROI.
Double your Bitcoin and your Ethereum within 80 days or less through an automated Dual Coin Platform, with payments and deposits being encrypted automatically with the ultimate Vista Algorithms.
Vista Network affiliate ROIs are paid out at a rate of 2.5% a day, meaning 200% is reached in 80 days.
Referral commissions on invested funds are paid out via a binary compensation plan.
A binary compensation structure places an affiliate at the top of a binary team, split into two sides (left and right):
The first level of the binary team houses two positions. The second level of the binary team is generated by splitting these first two positions into another two positions each (4 positions).
Subsequent levels of the binary team are generated as required, with each new level housing twice as many positions as the previous level.
Positions in the binary team are filled via direct and indirect recruitment of affiliates. Note there is no limit to how deep a binary team can grow.
Vista Network track new investment volume on both sides of the binary team.
At the end of each day new investment volume is tallied up, with affiliates paid a percentage of funds matched on both sides of their binary team.
How much of a percentage is paid is determined by how much a Vista Network affiliate has invested:
- invest 0.05 BTC or ETH and receive a 6% binary commission, capped at 0.1 BTC/ETH a day
- invest 0.1 BTC or ETH and receive a 7% binary commission, capped at 0.2 BTC/ETH a day
- invest 0.3 BTC or ETH and receive a 7% binary commission, capped at 0.6 BTC/ETH a day
- invest 0.5 BTC or ETH and receive a 7% binary commission, capped at 1 BTC/ETH a day
- invest 1 BTC or ETH and receive a 7% binary commission, capped at 2 BTC/ETH a day
- invest 2 BTC or ETH and receive a 7% binary commission, capped at 4 BTC/ETH a day
- invest 4 BTC or ETH and receive a 7% binary commission, capped at 8 BTC/ETH a day
- invest 8 BTC or ETH and receive a 7% binary commission, capped at 16 BTC/ETH a day
Joining Vista Network
Vista Network affiliate membership is tied to a 0.05 to 8 investment in bitcoin and/or ethereum.
Vista Network claim they source ROI revenue from
- Trading (365 Days a Year/24hrs a Day Market Never Sleeps “RobotTraders”)
- asset tracking
- Asset Acquisition ‘Buy and Hold’
- Asset Portfolio and Management
- MLM ‘P2P’
- BLOCKCHAIN Acquisition and Mergers and
- Enterprise Level Software Companies or Acquisitions
Other than “MLM P2P”, no evidence of external revenue generation is provided.
“MLM P2P” is significant, as “P2P” stands for “peer to peer”. In MLM underbelly scamspeak, “peer to peer” is code for affiliates paying affiliates.
That’s not quite the case with Vista Network, however the end-result flow of money is the same.
New Vista Network affiliates are recruited, they pump new money into the system and Vista Network use that money to pay existing affiliates a daily ROI.
The other sources of revenue generation are baloney. If Vista Network was profitable in any of the areas claimed, there’d be no reason to solicit investment from randoms over the internet.
Especially considering Vista Network claim to have been mining bitcoin since 2014.
Putting aside the fact that Vista Network didn’t exist until a few months ago, Vista Network’s mining claim raises two possibilities:
- their mining operations have been unprofitable and so the company has turned to public investment (why would anyone invest in mining operations generating a loss?) or
- Vista Network’s mining operations are profitable, which again raises the question of why they’re soliciting investment from the public
The reason Vista Network’s claims make no sense is because they’re only made to convince people to sign up and invest.
Claims made by Ponzi scammers don’t hold up to scrutiny, and obviously such is the case with Vista Network.
As with all Ponzi schemes, once affiliate recruitment slows down so too will new funds entering the system.
This will starve Vista Network of ROI revenue, eventually prompting a collapse.
As we’ve seen in GladiaCoin and pretty much every other cryptocurrency doubler to date, when they collapse the majority of investors lose money.
Update 17th February 2023 – The CFTC has filed suit against Vista Network and Armen Temurian.
According to the regulator, Vista Network was a $7 million dollar Ponzi scheme.