WeShare Crowdfunding Review: Gold Crowdfunding reboot
WeShare Crowdfunding (stylized as “We$hare Crowdfunding”) identify James C. Hill as the company’s Founder.
Under the pseudonym “J.C.”, Hill was named a “principal” of OneX by the SEC back in 2012.
OneX was a matrix-based pyramid scheme which fed participants into QLXchange, a shady investment feeder scheme.
Last year Hill (right) launched Gold Crowdfunding, which WeShare Crowdfunding appears to be a reboot of (the Gold Crowdfunding website domain redirects to WeShare Crowdfunding).
Gold Crowdfunding saw affiliates pay $10 to join, and then participate in a seven-tier cash gifting scheme.
Cash gifting schemes require a constant supply of new participants entering in at the bottom of the scheme, the failure of which likely caused Gold Crowdfunding to collapse.
Looking to salvage what was left of Gold Crowdfunding, Hill appears to have rebranded the opportunity WeShare Crowdfunding and relaunched.
Read on for a full review of the WeShare Crowdfunding MLM business opportunity.
The WeShare CrowdFunding Product Line
WeShare Crowdfunding has no retailable products, with affiliates only able to market affiliate membership to the company itself.
The WeShare Crowdfunding Compensation Plan
The WeShare Crowdfunding compensation plan sees affiliates sign up and then gift funds to other participants.
This activity is tracked seven levels deep, although I’m not sure if it’s a matrix or unilevel compensation layout.
In any event a WeShare Crowdfunding affiliate starts by gifting $200 to existing participants (James Hill gets a $40 cut).
After recruiting a number of new participants, an affiliate then pays another $320 to their upline.
I’ve seen five new investors quoted, but I’m not sure if that was mandatory or just a suggestion (WeShare Crowdfunding do not provide a copy of their compensation plan on their website).
In turn, new investors brought in by their recruits are also passing up gifting payments from those they’ve recruited.
This process continues up seven-tiers in total, culminating in thousands of dollars being gifted in the upper tiers of the scheme.
Joining WeShare CrowdFunding
Affiliate membership with WeShare Crowdfunding appears to be free, however affiliates must gift at least $200 into the system in order to participate.
As such the defacto minimum cost of WeShare Crowdfunding affiliate membership is $200.
A disclaimer on the footer of the WeShare Crowdfunding website reads:
I am choosing to participate in utilizing weShare Crowdfunding’s “Donation Distribution Formula”.
This means that when you make a donation to my project, that I may be choosing to use part of your donation to make donations to help other projects within our intentional community.
Under the guise of funding bogus projects within an “international community”, WeShare Crowdfunding continues where Gold Crowdfunding left off.
Despite the fancy term, “Donation Distribution Formula” is just another name for cash gifting.
You sign up and send a gifting payment to those who joined before you, which in turn qualifies you to receive the same from those recruited after you.
As with Gold Crowdfunding, WeShare Crowdfunding will collapse when recruitment of new gifting recruits slows down.
Gold Crowdfunding collapsed within a year and what with reboots rarely lasting as long as their predecessors, one can expect WeShare Crowdfunding to collapse sooner rather than later.
I first saw WeShare a few months back when I saw David Harris using his affiliate marketing pretending to be an anti scam site (scamxposer dot com) to flog this.
He and I interacted briefly about it and a few of the other programs he recommends. Mr. Harris seems to be firmly in the “well I got paid so it isn’t a scam” camp.
Here’s a video that was linked to from David’s affiliate page, it describes the WeShare Crowdfunding Donation Distribution formula:
It’s a deliberate misinterpretation of “crowdfunding” much like “Cash Gifting” is a misinterpretation of IRS rules… both to justify Ponzi schemes.
For anyone wondering what the difference between WeShare and legitimate crowdfunding just go to the 1 minute 5 second mark in the video I linked to above, at says it better than I could:
Now none of the legitimate crowdfunding platforms make “give first then get” a part of their business model and for very good reason.
People who donate to legitimate crowdfunding do not do so because they expect to make more money than they gave in return for having donated.
WeShare is just cash gifting dressed up a little different but they’re illegal and unsustainable for the exact same reasons.
Watch the video, see how many “stairs you have to climb” and how much you get “funded.”
What I’d ask you to pay attention to is how many people need to “donate” after you to get all the “funding” the video promises.
How many “two times two’s” did you hear? Here’s the problem, you always run out of two times twos and when you do who’s holding the bag?
The reason this crap is illegal is that the people who set these things up, the David (ScamXposer) Harris’ of the world can reliably make money pimping these scams but mathematically speaking almost everyone else paying money in loses money.
But it’s for “charity” so it’s OK, right?
Because the pay-in to pay-out ratio is too large. The scheme has too much liability so almost everybody loses.
1×2 money doubler matrix cyclers mathematically only need two pay-ins to satisfy one pay-out.
This scheme can last a long time and more of the people will win. This is the minimum pyramidial exponent without pulling actual profits.
In a pool of 1000 players; 334 of players will win, 666 players will lose. 1 + 2 = 3, this is where I am getting my player win/lose ratio.
Some PlanB4you staff jumped on this, they aim to revive the “PlanB4you-matrix” in this scam (meaning of course they’ll cash in).
@Frank, they are total scum!
@glimdropper What’s the point of putting in a link to a video if you have it marked as PRIVATE? We can’t see it….
Glim was linking the video, he didn’t publish it to YouTube.
Shady characters often mark videos as private when they are called out on here.
Thanks for pointing out that the link went dead Desert Warrior. And as Oz said some of these people tend to hide things once they start not appreciating the attention they’re getting.
You know, one of these days we’re going to learn that part of the job here is to become archivists of these scammers and start placing copies of their media somewhere they can’t make go poofers. And as a matter of fact that day was a good six months ago:
Hello, “weshare” arrived in my country. Suspicious, I make internet search.
Strangely I do not find much until I stumbles across on this site. I am distraught.
I guess the lack of information is wanted? Sorry for my English, I use a translator.
I’m not familiar with “WeShare”, but it looks like a Cash Gifting scheme, a pyramid scheme variant.
They usually don’t like written reviews, they are meant to be secretly shared among trusted friends. 🙂
The ones who will make money there are normally “The Inner Circle”, the friends of the organizer. Most others will waste time and money.
We’ve heard from all who’s apparently NOT done WeShare. What does the actual participants have to say?
I’ve heard that those who say something can’t or shouldn’t be done usually doesn’t interrupt those who are doing it.
Why, are WeShare lying to the public about their comp plan?
Whether you’re in the scam or not the business model is the same.
Probably the same thing all victims of illegal comp plans say before they discover they’ve been scammed.
Q: What does a junkie think of his dealer?
A: Is that before or after the dealer ripped him off?
“I can only show you the door, you have to go through it yourself.” — Morpheus, “The Matrix”.
It’s not hard to understand why so many people are defrauded each year when you realize their investment decisions are made based on out of context truisms from the latest self help book instead of real world principles, common sense or the advice of people who really DO know what they’re talking about.
A copy of pyramid scheme wesharecrowdfunding started up from The Netherlands. Probably won’t be too long until the authorities shut it down if we look at the relive short life of PlanB4you which also operated from The Netherlands.