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You're Reading:Why My BTC Life is a System Designed to Make You Fail

Why My BTC Life is a System Designed to Make You Fail

by Tasos

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Feb 25, 2017


my-btc-life

 

 

 

Bitcoin investing programs are born every day. In every online corner there is a promising system to make all participants rich, well, almost. In fact, only a few make a profit, the owners first and foremost. Unfortunately the majority of members losing their deposits in a fake expectation of easy wealth.

I hope that today the statistics won’t be repeated….

 

 

Inside My BTC Life

 

 

 

The homepage welcome visitors with headlines like…

  • Bitcoin donation matrix
  • A powerful earning revolution
  • A person to person (peer-to-peer) secure, direct donation platform
  • All donations are being paid directly into their upline’s Bitcoin eWallet (100% commissions)

 

How it Works

  • Register an account and donate 0.03 BTC to start your journey
  • Refer your friends to start building your team
  • Success: receive donations directly to your e-wallet and pursue your financial freedom

 

Commissions – MLM Matrix Table

  • 1st level – 3 referrals, you pay 0.03 BTC, you receive 0.09 BTC, profit 0.065 BTC, subscription for 90 days
  • 2nd level – 9 referrals, you pay 0.025 BTC, you receive 0.225 BTC, profit 0.205 BTC, subscription for 100 days
  • 3rd level – 27 referrals, you pay 0.02 BTC, you receive 0.54 BTC, profit 0.42 BTC, subscription for 120 days
  • 4th level – 81 referrals, you pay 0.12 BTC, you receive 9.72 BTC, profit 9.72 BTC, subscription for 180 days

Total profit = 10.38 BTC

 

Notice: In order to earn more and faster donations open more accounts with new email and BTC Wallet ID

 

I will comment on that as usually, at the end…

 

About Page

They say…””The donations are paid (voluntarily) by our members to members in their upline and at no time does our system hold any funds or fees for the services we provide. All donations are exclusively peer to peer and in Bitcoin and each donation is backed by its unique hash ID from the official database of Blockchain [the official Bitcoin operator].

The donation plan works on a 3×4 forced matrix structure with 90-180 days level renewal subscription. Each member has a downline and upline. When members make donation the donation is being paid directly into their upline’s Bitcoin eWallet [100% commission].””

They continue…””you are free to upgrade to next donation level at any time, you do not have to wait until you collect all donations from your downline..””..When a person upgrades to a higher donation level, their donation is paid to the upline member who is at that level. If an upline member has not upgraded to that level, the donation will be directed to another upline member who is at that level already. This can cause a misbalance in your upline’s matrix and they might miss some payments. This is why it is important to keep track on your upgrades and your downline’s progress and make sure you are ahead of them if necessary.””

 

The Admins

Lubos Hollan – Marketing and Advertising: an entrepreneur from Slovakia working as a direct sales manager for the past 6 years. He loves making money online but at the beginning he struggled because in 2016 the industry was full of rev shares and binary option scams. Then he realised what most people won’t be able to realise ever…that the only way to earn some money online is to learn how to recruit and promote….and here we are on this new platform, My BTC Life…

Recruit and promote into what???…let’s see

 

Tousif Parvez – Technical & support: network administrator in a multinational company in Abu Dhabi since 2008. He started as a PTC clicker and later as PTC admin. Experience in handling scripts and currently running GuruCLix and ClixUnion (PTC sites) without any complaint so far.

 

Notice from Founders: The reason why MyBTCLife was created is to give people the opportunity to earn money online without the need of spending a fortune in start up fees. MyBTCLife is a program where you can build your wealth and if you maintain your focus and work hard, it could be the only program you will ever need. The potential is just huge here..

 

They encourage people to work hard, inside the platform of MyBTCLife…and what exactly means working for MyBTCLife?

 

FAQ – Important

  • MyBTCLife is a non-profit organisation and can be used as a platform to raise funds for various personal causes: family, charities, non profit organisations, schools
  • There are no Refunds, members willingly and freezy donate to each other and the program has no control over the donations and transfers between members.
  • You have to renew the membership in order to receive donations again
  • No admin fees, no hidden fees

Really, these 2 admins are working their b..t off just for us, their loyal members. Let’s see what’s next

 

Terms

When presenting or discussing the My BTC Life opportunity you must make clear to prospects that financial success requires commitment, efforts and recruiting skills.

 

Only with hard work someone succeeds

 

Contact – Support

Only through the Facebook group

 

Owners – Domain

The whois search helps me uncover the registration date for the domain mybtclife.com, mid December 2016, 2+ months ago. The name Tousif Parvez appears as registrant / owner and an address is provided, Abu Dhabi. Another name, Lubos Hollan appears as tech manager, in Topolcany.

 

There is nothing left to review, let’s move on…

 

 

 

my-btc-life

 

 

 

Conclusion

 

 

 

It is really annoying, but we deal with yet another cash gifting scheme, with bitcoins this time.

 

The admins refer to a non profit organisation but they have already covered every matrix of the system with their names on top. They are receiving every donation and they are your uplines and will collect all passed up commissions as well. Those commissions that members lose when someone upgrades on a next level and they have not. This is what happens with Pay-to-Play systems that push affiliates to upgrade.

I really don’t understand how a non profit platform forces members to pay subscription renewal fees. What is the point of donating to families and charities pre-calculated bitcoins?…A peer to peer direct donation platform let members donate whenever they want, the amount they want.

Another very important thing to consider here is that anyone is free to open multiple accounts resulting in more donations for the matrix pre-loaded admins positions. And remember, the admins don’t have to pay subscription fees and renewals.

 

As I dig deeper I uncover that these 2 admins are the owners of the BitDonix platform, another Bitcoin donation platform. BitDonix launched a few months ago, and a new platform was built to continue what BitDonix apparently will fail to deliver. I believe that recruiting has slowed down for BitDonix and this is why the admins need more funds to keep on paying at least the earlier investors of BitDonix.

 

Cash gifting schemes are financial frauds, where the owners collect the most of funds while every member is trying to recruit like a maniac other people into a system that will die out in the near future.

 

MyBTCLife has no value as a platform whatsoever, and without real products for the retail market (external customers) soon it will disappear from the scene. An illegal pyramid scheme where new recruited affiliates pay off those that got before them into the program. Companies that are solely dependent on recruitment without products do not last long. Because the only products been sold are memberships to affiliates of the company. Affiliiates become customers and they recruit others only to see the administration succeed.

 

The statement of Hollan that “Promoting and Recruiting” people into platforms like this one is the only way for someone to make money online is really a joke and it is a shame for the industry. He strongly believes that recruiting people into illegal pyramids is a job.

 

We have seen this scenario repeated a million times, one more time won’t make much difference.

 

 

How to Make Money Online the Proper and Ethical Way

 

 

If you want to follow Hollan’s advice then begin a pyramid recruiting career to see where you will get. Then come back here to let me know about your results.

However for those of you that are willing to work ethically I have good news. The most newbie friendly online business model is by far affiliate websites. This is how I started 2 years ago and this journey could not have been more adventurous. Long term potential, no risks, minimum startup costs, endless opportunities.

 

Top Places to Get affiliate Marketing Help

 

Related

 

 

That’s it, another review has finished, here on Web Market Support. I am waiting for your comments and thoughts. Till next time, your online partner.

 

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