Wealth Builders Network Review: FuelCoin + matrix cycler
Wealth Builders Network claim to be based out of the US state of California, but there is no information on the company’s website indicating who owns or runs the business.
The Wealth Builders Network website domain (“wbnes.biz”) was registered on February 27th 2013, however the domain registration is set to private.
Further research reveals Sean Tillery Legaux (usually cited as just “Sean Tillery”) is credited as the Founder of the company.
In tandem with running Wealth Builders Network, Tillery is also an affiliate with Talk Fusion:
Why this information is not presented on the Wealth Builders Network website is unclear.
The first incarnation of Wealth Builders Network appears to have launched in early 2014.
A business presentation uploaded to YouTube on March 3rd, heavily pushes an economically themed “the sky is falling” mantra.
Compensation wise, Wealth Builders Network affiliates paid between $75.99 to $350.99 to sign up as an affiliate and were then paid to recruit others who did the same.
Commissions were paid out via a six-tier 3×3 matrix cycler, culminating in an eventual $22,937.50 payout.
Some sort of “coin credits” component also existed, which appears to be a side-business Wealth Builders Network ran, through which silver coins were sold to affiliates.
In addition the initial cost of Wealth Builders Network membership, affiliates were also charged up to $300 a month to participate.
Sometime over the last year this scheme collapsed, with Wealth Builders Network now attempting to relaunch themselves anew.
Read on for a full review of the Wealth Builders Network MLM business opportunity.
The Wealth Builders Network Product Line
Wealth Builders Network’s latest incarnation sees the company attach itself to the cryptocurrency movement.
WBNES provides you with education about the unknown differences between cash vs. money and e-currencies.
A Wealth Builders Network presentation hosted on Sean Tillery’s Talk Fusion account states that:
As more countries and people around the world adopt Bitcoin, it’s going to increase in value.
It’s actually at a historic low today, at about $350.
I assure you by the middle of November it will probably be double that.
Bitcoin hovered around $350 for much of the second half of 2014 (when the presentation was recorded).
In November of 2014, counter to the claim made in Tillery’s presentation, the value of Bitcoin fluctuated between $325 to $375.
Today the value of Bitcoin is $246.
Wealth Builders Network themselves don’t use Bitcoin however, having instead attached the company to FuelCoin.
At the time of publication, FuelCoin had a value of $0.00012.
Wealth Builders Network claim FuelCoin is superior to Bitcoin, with a recently issued press-release claiming that
WBNES says it helped distribute 20 million of 100 million FuelCoins in less than 90 days globally. WBNES has become one of the top six wealthiest FuelCoin holders in the world.
The strategy is to convert U.S. dollars into bitcoin, then convert bitcoin into FuelCoin. Members then expose the opportunity to their own networks.
“Premiere members” get discount pricing on FuelCoin purchases.
Putting all of this together, I’ve been unable to identify any actual retailable products or services.
As per a Wealth Builders Network marketing slide, you sign up as an affiliate, invest funds in Bitcoin which is then converted to FuelCoin, and get paid to recruit others who do the same:
At no time is anything marketed to or sold to retail customers during this process.
The Wealth Builders Network Compensation Plan
The Wealth Builders Network compensation plan is not provided on the Wealth Builders Network website.
As per the Wealth Builders Network website,
$3.5M TARRP Management Accounting System Opportunity to earn a Six figure Monthly Residual Income Opportunity to Build Unlimited Residual Income (Globally).
“TARRP” is the name of the compensation plan outlined in the introduction of this review.
In the absence of any information suggesting otherwise, I believe Wealth Builders Network have simply re-purposed their existing six-tier cycler for their new digital currency based opportunity.
This is evidenced by a big image on the Wealth Builders Network website, clearly showing a 3×3 matrix (3rd level appears incomplete due to size constraints):
Specific amounts paid out on the recruitment of affiliates into this matrix are unavailable, however the “refer 4 and pay no more!” marketing persists, indicating that, at least in the first matrix, payments are at least $15 each.
After filling the first matrix, affiliates then cycle into the second matrix, with commissions increasing throughout each cycler tier.
Along the way some money is set aside for coin purchases, which are presumably put towards investment in FuelCoin (which would be Wealth Builder’s selling FuelCoins to their affiliates).
Joining Wealth Builders Network
Affiliate membership with Wealth Builders Network is advertised as being $101.98 and then $60 a month.
A $50.99 option is also available, but this appears to exist only for FuelCoin investment (at full price). As far as I can tell, $50.99 members don’t participate in the Wealth Builders Network MLM business opportunity.
Of concern is that the Wealth Builders Network website is currently displaying affiliate signup options as follows:
- Bronze – $75.99
- Silver – $113.99
- Gold – $145.99
- Platinum – $251.99
- Diamond – $350.99
These are quoted as yearly prices, and appear to be costs associated with Wealth Builders Network affiliate membership prior to the relaunch.
Why the company website hasn’t been updated I can’t say, but it’s certainly confusing in its current state.
As it stands, Wealth Builders Network resembles a poorly thought out restructure, that has been executed in a well and truly half-assed manner.
The company website is a mess, with many of the links simply pointing back to the Wealth Builders Network website homepage. There’s no specific compensation plan material, and what is advertised fails to match up with the affiliate sign up form, which has a completely different pricing structure.
Want to watch 30 minute videos prophesizing an imminent financial collapse of apocalyptic proportions though? Wealth Builders Network has you covered.
Purely from an MLM standpoint, Wealth Builders Network is problematic in that nothing is being marketed to or sold to retail customers.
It’s a straight up chain-recruitment cycler. You pay a fee for a matrix position, others do the same and you get paid.
This business model, as it seems to have already done, collapses when recruitment of new affiliates slows down.
Mechanisms such as free first-tier matrix positions upon cycling out will create the illusion of activity, but the only funds entering the system are via affiliate fees.
The monthly fee keeps things going for a while, but sooner or later you’re looking at massive cycler liabilities as people make it to the upper tiers.
The free recycle positions only add to this liability, as they themselves push people through to cycle without actually generating any new funds to pay out with.
As for FuelCoin, speculating on its future value puts me way out of my comfort zone. What I will note however is that the currency appears to have collapsed (or whatever the applicable digital currency term is) once before.
Mid last year saw the total amount of coins reduced from 8 billion to 100 million.
We understand that this is significantly less than current holdings but it is the same percentage of total coins.
The lowered total supply will also allow for us to set higher prices and attract more outside attention on the exchanges.
Part that “outside attention” strategy would appear to be the use of Wealth Builders Network to market the coin via MLM.
Here’s where things get murky.
A marketing slide from Wealth Builders Network claims that the company (read: Sean Tillery and friends) gets FuelCoins for free:
Admittedly I had no idea what “staking” was and had to look it up:
Proof-of-stake is a method of securing a cryptocurrency network and achieving distributed consensus through requesting users to show ownership of a certain amount of currency.
Proof of Stake currencies can be several thousand times more cost effective. These mining costs have to flow out of the currency – putting a downward pressure on the price.
So I have still have no idea what staking has to do with Wealth Builders Network getting free FuelCoins, but the take-away point is they are getting free FuelCoins.
These coins are then dumped on Wealth Builders Network affiliates in exchange for real money (affiliate fees), used primarily as a marketing tool to get people into their matrix cycler.
Unless I’m missing something obvious (and I don’t think I am), that’s pretty much all that’s going on here.
Meanwhile the value of FuelCoin remains in the gutter, and doesn’t appear to be increasing anytime soon.
To be honest, all of this sort of reads like a bunch of guys who wanted to “get in on the ground floor” of a new cryptocurrency, dropped a bunch of money into it and are now hoping it’ll take off.
A familiar story for a lot of the cryptocurrency startups that have surfaced, only this one has a matrix cycler scheme promoting it. Well investment into it as opposed to actual use of FuelCoin currency itself.
Basically you join Wealth Builders, they dump FuelCoins on you and then everyone holds hands and hopes they get rich.
Getting back to the MLM side of things, no matter what a matrix cycler is attached to, if products and services aren’t being marketed to and sold to retail customers, there’s a problem.
And in Wealth Builders Network, that most definitely appears to be the case.
The “market cap” of FuelCoin hit all-time high of 7 mil back in December 2014 had had been on a nosedive up to February 2015 all the day back down to below 1 million, and is steadily back on the rise to 1.5 mil.
The way FuelCoin is supposed to work is they gave 50M (about half of supply, premined) to altcointoday to be released gradually.
There has been no post from FuelCoin dev for 3 months (since Dec 26, 2014).
But the truly trouble portion is FuelCoin itself claims to be using “matrix educational mlm initiative”
At best you have this WBNES thing signed up as an affiliate from their initial ‘investment’ (practically free) and now wants more people to join in so they can cash out, with promise of “free money” (but more if you put in your own money too).
I am Gary. The fuel coin Fuel team leader. There is MUCH more going on inside the fuel camp.
There are several factors which leads the price spike and also the dropping below 6k satoshi. One of which is a theft of a private persons wallet which got dumped on the market.
I invite you to contact me directly so I can help you understand what the fuel team is truly doing and also explain why wbnes is only a part of our distribution model.
Also. @fuelcoinNEWS is not the primary account on twitter. Please follow @fuelteam1
Hi Gary, thanks for stopping by.
Or, for the benefit of our readers, you could just explain all that here?
The information on WBNES would be welcome, any marketing spam pushing FuelCoin not so much.
@gary what is the fuel team doing truly?
“Sean” worked in my department and was fired for running this scam on company assets and company time. His creditors continue to call, two years later.