My Bitcoin Matrix is a cash gifting scheme using the Bitcoin cryptocurrency (BTC) combined with an affiliate recruitment scheme.There's not even a shred of information available on the My Bitcoin Matrix site regarding who runs it.The site itself was registered in late January of 2017 through a private domain name registration service, making it impossible to know who owns the website.The only clue as to where the site might be located is its Alexa rating, which shows an overwhelming percentage of its web traffic originates from Malaysia.This makes it rather likely that the site is based out of the same country.However, there's still no clue as to the identity of whoever is behind the website.There's no actual product being sold or marketed by My Bitcoin Matrix.Members do gain access to a library of “educational e-books” as part of their membership, but this is likely just an attempt to provide the look of compliance in order to make people think the site is more than what it actually is.

The only activity My Bitcoin Matrix provides is marketing memberships to new recruits in order to grow the company and generate residual income for sponsors.The opportunity presented by My Bitcoin Matrix comes from a hybrid of cash gifting and chain recruitment.Becoming a member of My Bitcoin Matrix costs 0.01 BTC – a bit over $10 at current exchange rates.New members then need to purchase a position in a new 3×15 matrix in order to begin earning money by paying an additional 0.004 BTC.Filling your first tier in your matrix with direct recruits nets you 0.004 BTC from each of your recruits, for a total of 0.012 BTC.Indirect recruitment from matrix tiers 2 through 15 also pay residual commissions at a rate of 0.0004 BTC per recruit.That's the extent of the opportunity.My Bitcoin Matrix is an opportunity to work very hard to recruit others to pay you infinitesimally small residual commissions, who then need to recruit others to receive their own comparatively small commissions in turn.

These recruits need to then continue chain-recruiting in turn if they want to see a return on their own investment.The end result is a feeding frenzy of recruitment that completely exhausts the pool of individuals interested in joining this parade.bitcoin aktieOnce it becomes impossible for recruits on the bottom of the pyramid to find anyone to recruit themselves, guess what – the entire organization begins to crumble.bitcoin to zar chartResidual commissions dry up, people drop out, and the operation ceases to function.bitcoin on xeonIn a situation like this, if you haven't earned enough bitcoin through recruitment activity to break even, you never will.ethereum price on poloniex

Even if you did manage to take in enough cash to turn a profit, it's not going to be much of anything to make a difference in your life.ethereum pool listYou know who's definitely going to be raking it in, though?ethereum stock nasdaqThe anonymous admins of My Bitcoin Matrix.bbc click bitcoinThey receive each and every 0.01 BTC membership fee, plus a cut of almost every recruitment thanks to pre-filled top matrix positions.litecoin mining pool howtoThen, when the scheme fizzles out because recruitment slows down and ceases, they take their ill-gotten gains and go somewhere else, possibly even setting up a new scam using a similar set-up.bitcoin valor historico

On top of it all, there's almost no way to track down whoever is behind this scam because of the decentralized and unregulated nature of cryptocurrency.Bitcoin isn't tied to a fiat currency like the US dollar or the Euro – it exists completely independently as a digital currency – so there's no governing body to appeal to.Additionally, there's no way to reliably trace where the money goes, as Bitcoin wallets are for the most part anonymous.It's in your best interest to avoid My Bitcoin Matrix at all costs.You're not going to be able to earn much of anything by participating in this scheme, and there's a good chance you'll end up with less money than you started.Want To See What Players Money Is About?See why after a decade of digital dollar domination, we have only ONE online opportunity you need for optimal results!Enter your best business email now.I will never give away, trade or sell your email address.We are here to help, not hurt.Coinbase - Buy / Sell Bitcoin O... bitcoin,bitcoins,buy,coinbase,online,review,reviews,sell,us,usa,wallet Coinbase Review - Buy, Sell and Accept Bitcoin Coinbase is an international digital wallet that allows you to securely buy, use and accept bitcoin currency.

I have successfully used Coinbase to both buy and sell Bitcoins more » Visit WebsiteTeam1Bitcoin Review: 2×5 matrix bitcoin cash gifting in MLM Reviews There is no information on the Team1Bitcoin website indicating who owns or runs the business.”) was privately registered on January 6th, 2016.If you visit the Team1Bitcoin website a message at the top of the page informs you you’ve been “invited by admin”.If you then click register your referring affiliate is “rescue hutton”.This is a static referral link and appears to be the Team1Bitcoin admin account.Further research reveals “rescue hutton” is actually “Hutton Rescue”, an Ultimate Cycler affiliate.Rescue (right) is based out of Port Harcourt in Rivers State, Nigeria.In addition to participating in the Ultimate Cycler Ponzi scheme, Rescue is also an affiliate with MMM West Africa and MMM Nigeria (both clones of the collapsed MMM Global Ponzi scheme).Rescue coordinates his scamming through the website Rescue Nigeria (pun probably intended).

Somewhat curiously, Team1Bitcoin is not advertised on the site.Read on for a full review of the Team1Bitcoin MLM opportunity.The Team1Bitcoin Product Line Team1Bitcoin has no retailable products or services,with affiliates only able to market Team1Bitcoin affiliate membership itself.The Team1Bitcoin Compensation Plan Team1Bitcoin affiliates gift bitcoin to each other via a 2×5 matrix.A 2×5 matrix places an affiliate at the top of a matrix, with two positions directly under them: These two positions form the first level of the matrix.The second level of the matrix is generated by splitting each of these two positions into another two positions each (4 positions).Levels three to five of the matrix are generated in the same manner, with each new matrix level housing twice as many positions as the previous level.A Team1Bitcoin affiliate begins by gifting 0.002 BTC to the affiliate who recruited them.This payment qualifies the affiliate to receive 0.002 BTC from two recruited affiliates placed into the first level of their matrix.

The other four matrix levels operate in the same manner, with each new level increasing the amounts gifted.level 1 – gift 0.002 BTC to the affiliate who recruited you and receive 0.002 BTC from two subsequently recruited affiliates level 2 – gift 0.003 BTC and receive 0.003 BTC from four affiliates level 3 – gift 0.01 BTC and receive 0.01 BTC from eight affiliates level 4 – gift 0.05 BTC and receive 0.05 BTC from sixteen affiliates level 5 – gift 0.5 BTC and receive 0.5 BTC from thirty-two affiliates Joining Team1Bitcoin Team1Bitcoin affiliate membership is tied to a 0.002 BTC gifting payment to the affiliate who recruited you.Conclusion Having likely lost money in Ultimate Cycler and the various MMM Global clones he’s participated in, Hutton Rescue has worked out owning scams is far more profitable than participating in them.That brings us to Team1Bitcoin, which isn’t any different from the plague of bitcoin gifting schemes launching at the moment.