BitPayProfits Review: Reselling royalty-free music?
BitPayProfits provide no information on their website about who owns or runs the business.
The BitPayProfits website domain (“bitpayprofits.com”) was registered on February 1st, 2017. Byron McCorriston is listed as the owner, with a residential address in the US state of Hawaii also provided.
Recently McCorriston (right) was promoting the Billion Coin Ponzi scheme (non-MLM). Late last year McCorriston was promoting the Easy 1up gifting scheme and in 2015 he was an affiliate of the TVC Matrix pyramid scheme.
Whether McCorriston still owns BitPayProfits is unclear. The domain registration hasn’t been updated since it was created in February.
Less than a week ago, serial MLM underbelly admin Johnny Ganoza was trying to sell BitPayProfits:
Ganoza has launched and been attached to a number of suspect schemes over the years, the latest of which BehindMLM reviewed was Hustle With Us.
Read on for a full review of the BitPayProfits MLM opportunity.
BitPayProfits has no retailable products or services, with affiliates only able to market BitPayProfits affiliate membership itself.
The BitPayProfits Compensation Plan
BitPayProfits affiliates purchase $45 positions in a 2×2 five-tier matrix cycler.
A 2×2 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 these first two positions into another two positions each (4 positions).
Positions in the matrix are filled via direct and indirect recruitment of new BitPayProfits affiliates.
Starting with $45, each matrix level has an unlock fee. Payment of this fee (funds are sent directly to other BitPayProfits affiliates) qualifies an affiliate to receive payments across the cycler as follows:
- Phase 1, level 1 (2 positions) – $45 per position filled ($90)
- Phase 1, level 2 (4 positions, costs $45 to unlock) – $45 per position filled ($180)
- Phase 2, level 1 (2 positions, costs $100 to unlock) – $100 per position filled ($200)
- Phase 2, level 2 (4 positions, costs $100 to unlock) – $100 per position filled ($400)
- Phase 3, level 1 (2 positions, costs $200 to unlock) – $200 per position filled ($400)
- Phase 3, level 2 (4 positions, costs $200 to unlock) – $200 per position filled ($800)
- Phase 4, level 1 (2 positions, costs $400 to unlock) – $400 per position filled ($800)
- Phase 4, level 2 (4 positions, costs $400 to unlock) – $400 per position filled ($1600)
- Phase 5, level 1 (2 positions, costs $1000 to unlock) – $1000 per position filled ($2000)
- Phase 5, level 2 (4 positions, costs $1000 to unlock) – $1000 per position filled ($4000)
BitPayProfits affiliates also earn a $10 recruitment fee per affiliate they personally recruit.
BitPayProfits affiliate membership is $65.
This is broken down into a $10 admin fee, $10 recruitment commission and $45 matrix cycler position.
Note that all BitPayProfits commission payments are made via bitcoin.
The thing about royalty-fee music is you can’t sell it. Royalty-free content is free to use, because the owner of the content isn’t charging a licensing or royalty fee for its use.
This destroys BitPayProfits’ pseudo-compliance claim that they are somehow “selling royalty-free music”.
What’s actually happening in the business model are affiliates are paying affiliates, which in MLM translates to cash gifting.
Matrix cycler gifting schemes primarily benefit the admins who set them up, as they receive the majority of deposited funds through one or more preloaded positions.
A few early-adopters might cycle out of the first few levels of the cycler, but by and large the majority of affiliates lose money when affiliate recruitment collapses.