Bit Cash Mine Review: Neuro emotional coach launches Ponzi scheme
Bit Cash Mine operate in the MLM cryptocurrency niche and are purportedly based out of Guadalajara, Mexico.
I say purportedly because, while an address in Guadaljara is provided on the Bit Cash Mine website, it doesn’t appear to be complete.
Cited as CEO of Bit Cash Mine on its website is Jhon Romero (full name: Jhon Jhaider Romero Montoya).
On his personal website Romero (right) bills himself as a “neuro emotional coach”.
According to his Facebook profile, Romero is based out of Pereira, Colombia. This appears to actually be where Bit Cash Mine is operated from as opposed to Mexico.
As far as I can tell, Bit Cash Mine is Romero’s first MLM venture.
Read on for a full review of the Bit Cash Mine MLM opportunity.
Bit Cash Mine Products
Bit Cash Mine has no retailable products or services, with affiliates only able to market Bit Cash Mine affiliate membership itself.
The Bit Cash Mine Compensation Plan
Bit Cash Mine affiliates invest funds on the promise of an advertised 200% ROI in 40 days.
- Plan 100 – invest $100 and receive a $200 ROI
- Plan 200 – invest $200 and receive a $400 ROI
- Plan 500 – invest $500 and receive a $1000 ROI
- Plan 1000 – invest $1000 and receive a $2000 ROI
- Plan 2000 – invest $2000 and receive a $4000 ROI
- Plan 4000 – invest $4000 and receive an $8000 ROI
- Plan 8000 – invest $8000 and receive a $16,000 ROI
- Plan 16,000 – invest $16,000 and receive a $32,000 ROI
A $20 “registration fee” is charged on top of the invested amount.
After 40 days if an affiliate wants to reinvest they are charged another 7% fee.
Bit Cash Mine pay a 10% referral commission on funds invested by personally recruited affiliates.
The Bit Cash Mine compensation plan does mention an additional “10% split” but doesn’t provide details (I *think* the split 10% has to be invested).
Bit Cash Mine pay referral commissions via a binary compensation structure.
A binary compensation structure places an affiliate at the top of a binary team, split into two sides (left and right):
The first level of the binary team houses two positions. The second level of the binary team is generated by splitting these first two positions into another two positions each (4 positions).
Subsequent levels of the binary team are generated as required, with each new level housing twice as many positions as the previous level.
Positions in the binary team are filled via direct and indirect recruitment of affiliates. Note there is no limit to how deep a binary team can grow.
At the end of each day Bit Cash Mine tallies up new investment volume on both sides of the binary team.
Bit Cash Mine pay a 10% residual commission on matched funds, with leftover funds on the stronger binary side carried over.
Daily residual commission earnings are capped based on how much a Bit Cash Mine affiliate has invested:
- Plan 100 – $200 a day
- Plan 200 – $400 a day
- Plan 500 – $1000 a day
- Plan 1000 – $2000 a day
- Plan 2000 – $4000 a day
- Plan 4000 – $8000 a day
- Plan 8000 – $16,000 a day
- Plan 16,000 – $32,000 a day
Although calculated daily, Bit Cash Mine pay earned residual binary commissions as a lump sum weekly.
Bit Cash Mine pay reinvestment commissions via a 2×20 matrix.
A 2×20 matrix places a Bit Cash Mine 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 first two positions into another two positions each.
Levels three to twenty of the matrix are generated in the same manner, with each new level housing twice as many positions as the previous level.
Positions in the matrix are filled via direct and indirect recruitment of Bit Cash Mine affiliates.
When placed affiliates reinvest, a $10 commission is paid out.
How many matrix levels a Bit Cash Mine affiliate earns reinvestment commissions on is determined by how much they’ve invested:
- Plan 100 and 200 affiliates earn reinvestment commissions down five matrix levels
- Plan 500 affiliates earn reinvestment commissions down ten matrix levels
- Plan 1000 and higher affiliates earn reinvestment commissions down all twenty matrix levels
Bit Cash Mine pay the Career Bonus via a unilevel compensation structure.
A unilevel compensation structure places an affiliate at the top of a unilevel team, with every personally recruited affiliate placed directly under them (level 1):
If any level 1 affiliates recruit new affiliates, they are placed on level 2 of the original affiliate’s unilevel team.
If any level 2 affiliates recruit new affiliates, they are placed on level 3 and so on and so forth down a theoretical infinite number of levels.
The Career Bonus is capped at five unilevel levels and pays a 1% bonus commission on funds invested across these five levels.
To qualify for the Career Bonus a Bit Cash Mine affiliate must
- personally have invested at least $4000
- personally recruit at least eight affiliates who have each invested at least $2000 and
- have generated at least $100,000 in weaker binary side investment volume
Bit Vision Bonus
Bit Cash Mine affiliates who invest at least $4000, personally recruit at least four affiliates who have each invested at least $4000 and have generated at least $200,000 in weaker binary side investment volume receive “a brand new 2018 compact car and luxury leadership trip”.
Bit Global Bonus
Bit Cash Mine affiliates who invest at least $8000, personally recruit at least four affiliates who have each invested at least $8000 and have generated at least $500,000 in weaker binary side investment volume receive “a brand new 2018 luxury car and share in 2% of company profits”.
Joining Bit Cash Mine
Bit Cash Mine affiliate membership is tied to investment in one of eight offered plans:
- Plan 100 – $100
- Plan 200 – $200
- Plan 500 – $500
- Plan 1000 – $1000
- Plan 2000 – $2000
- Plan 4000 – $4000
- Plan 8000 – $8000
- Plan 16,000 – $16,000
The more an affiliate invests the higher their income potential via the Bit Cash Mine compensation plan.
Bit Cash Mine claims to have “more than 20 years of experience in financial services & business”.
The company claims to generate ROI revenue via a “trading team”;
This plan has been designed for those who only look for the return on their invested capital since their time has already been compromised.
Do not worry we will invest the time for you. Our BCM trading team will make your money multiply every day.
Whether Jhon Romero has any trading experience is unclear. There are no other named executives on the website.
What is clear is that Bit Cash Mine hasn’t been around for 20 years. The company website domain was only registered late last year in October.
Furthermore Bit Cash Mine provide no evidence of a “trading team” existing or any type of trading tied to the company.
This leaves new affiliate investment as the company’s sole verifiable source of revenue.
Using newly invested funds to pay existing affiliates a ROI makes Bit Cash Mine a Ponzi scheme.
On top of fraudulent ROI payments the rest of the Bit Cash Mine compensation plan is tied to affiliate recruitment, adding an additional pyramid layer to the scheme.
Evidently being a neuro emotional coach, whatever that is, doesn’t pay and Romero has decided to try his hand at Ponzi scamming.
The reality of MLM Ponzi schemes is that they primarily benefit those running them and a few who get in early.
In order for a select few to make money, the majority of participants have to lose it.
Once Bit Cash Mine affiliate recruitment slows down and the company collapses, inevitable investor losses will be realized.