I just had to write some tips on this as many people fall for these types of MLM Pyramid Schemes.
They might all have different packaging, but all have the same ammo at the end of the day. They all start off well, but eventually, they all come tumbling down. I make it a rule not to get involved with these schemes, but to give you guys the proper perspective, I need to share my recent experience as I broke my own rule on this.
MTI: I deposited $250 into this scheme, telling my sponsor that I know that it is a scam but to give him the benefit of the doubt, I signed up under him. 3 Weeks later, they tanked! But then to soften the blow, I decided to join Finalmente with $100 this time. 2 Weeks later, they also tanked. Ah man – not a good start if you ask me. Then I joined Torque, but decided not to add any money yet. Surely, 3 months later they tanked – missed that bullet!
Ok, so I’m starting to see a trend here, right?
There are so many of these popping up all over the internet, so be very careful about how much money you invest into these programs – ONLY put in an amount that you are willing to lose – like gambling. If you do get a payout later, that is a bonus for you, but in the long run I’m not sure if this is worth the effort as the programs rely entirely on referrals, otherwise it will collapse.
If you get involved right in the beginning it is another story, but at the end of the day the poor suckers who join by the time the life of the program is over will lose whatever they put in.
Am I currently ‘invested’ in any MLM programs?
Yes, with Qubittech, no wait, they changed their name again, now it is QubitLife, but I’m not entirely confident that they are strong enough to see it through the leaner months. They have a very strong marketing platform to ensure that they generate new leads as often as possible, hosting extravagant events all over the world to show how strong they are. They base their main source of income on trading bots that trade cryptocurrencies for a profit, but referrals are a big deal in their strategy. I have a page dedicated to auto bots I am dabbling in my own bots so make sure that I understand how this works without someone else being in control of the outcome.
How much did I invest?
I paid $100 (approx ZAR1500) on 28 December 2020. Growth of 250% expected in 4 months. Two weeks later they were down for 2 weeks (apparent upgrade) which I did not receive any interest on my account, and since then they had a DOS attack at least twice in which they had to change their domains.
Today is 22 March 2021 and I have reached $50 profit. They indicate that I should receive $25 per month on my $100 investment, but looks like their results are slow as it has been 3 months and I have received $50 so far instead of $75.
Join me on my QubitLife team if you feel that you have some money lying around to invest, and not scared to lose. Hey it’s all part of the adventure, isn’t it? Once I reach $100 I can withdraw my initial investment, knowing that I haven’t lost anything should this MLM go belly-up.
There is also another MLM, a real-life pyramid scheme with no products to sell other than pure referrals. Bitlocity launched 2 weeks ago but I already registered as a pre-member in December 2020, so I am confident that I got in very early but I’m going to give this one a miss. I cannot only do referrals and pull everyone I know into something that I know will only last about 2 years. At least with QubitLife they have a trading bot that can increase profits outside of a pyramid.