Good Time Life Review: UTA altcoin pump and dump points
Good Time Life launched in mid 2017 and operate in the cryptocurrency MLM niche.
The company is headed up by founders Linda Hong and Alex Lee, who both run the company as CEOs.
No additional information about either CEO is provided, nor does the Good Time Life website provide any contact information.
The Good Time Life website domain (“goodtime.life”) was privately registered on October 25th, 2016.
Marketing material suggests Hong and Lee are based out of Seoul, South Korea (major cringe warning):
It is highly likely that Korea is also where Good Time Life is being operated from.
Why this information is not provided on the Good Time Life website is unclear.
Read on for a full review of the Good Time Life MLM opportunity.
Good Time Life Products
Good Time Life has no retailable products or services, with affiliates only able to market Good Time Life affiliate membership itself.
The Good Time Life Compensation Plan
Good Time Life affiliates invest in UTA points on the representation it will be next the bitcoin.
- Standard – $250 and receive 100% worth of UTA
- Basic – invest $500 and receive 110% worth of UTA
- Bronze – invest $1000 and receive 115% worth of UTA
- Silver – invest $3000 and receive 120% worth of UTA
- Gold – invest $5000 and receive 125% worth of UTA
- Premium – invest $10,000 and receive 140% worth of UTA
- VIP – invest $20,000 and receive 170% worth of UTA
- Top – invest $30,000 and receive 200% worth of UTA
Good Time Life do not disclose the current internal rate of UTA on their website.
Outside of the Good Time Life opportunity UTA points are worthless.
Good Time Life affiliates are paid to recruit new affiliate investors.
How much of a recruitment commission is paid out is determined by how much a newly recruited affiliate invests.
Recruitment commission rates on new affiliates recruited with an affiliate’s first thirty days are as follows:
- recruit a Standard affiliate and earn $40
- recruit a Basic affiliate and earn $80
- recruit a Bronze affiliate and earn $160
- recruit a Silver affiliate and earn $480
- recruit a Gold affiliate and earn $800
- recruit a Premium affiliate and earn $1600
- recruit a VIP affiliate and earn $3600
- recruit a Top affiliate and earn $4800
After the first thirty days the above commission rates are halved.
Good Time Life pay residual 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.
Each Good Time Life affiliate investment package correspond with a set number of points:
- Standard – 200 points
- Basic – 400 points
- Bronze – 800 points
- Silver – 2400 points
- Gold – 4000 points
- Premium – 8000 points
- VIP – 16,000 points
- Top – 24,000 points
At the end of each day Good Time Life tally up new investment volume points on both sides of the binary team.
Commissions are paid out as a percentage of matched points on both sides based on how much an affiliate has invested:
- Standard and Basic affiliates earn 7%
- Bronze and Silver affiliates earn 8%
- Gold and Premium affiliates earn 9%
- VIP and Top affiliates earn 10%
Good Time Life pay a Matching 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.
Good Time Life cap payable the Matching Bonus at seven unilevel team levels, with the bonus paid out as a percentage match of residual binary commissions as follows:
- Bronze affiliates earn a 7% match on level 1 (personally recruited affiliates)
- Silver affiliates earn a 7% match on level 1 and 3% on level 2
- Gold affiliates earn a 7% match on level 1 and 3% on levels 2 and 3
- Premium affiliates earn a 7% match on level 1 and 3% on levels 2 to 4
- VIP affiliates earn a 7% match on level 1 and 3% on levels 2 to 6
- Top affiliates earn a 7% match on level 1 and 3% on levels 2 to 7
An additional 3% Matching Bonus is paid on affiliates recruited by personally recruited affiliates, using the same level restrictions above.
Good Time Life pay a Recognition Bonus when accumulated point goals are reached on the weaker side of the binary team.
- Sapphire – generate 60,000 points in weaker binary team volume and receive $1500
- Ruby – generate 240,000 in weaker binary team volume and receive $10,000
- Emerald – generate 480,000 in weaker binary team volume and receive $20,000
- Diamond – have one Emerald on both sides of your binary team and receive $30,000
- Double Diamond – have two Diamonds on both sides of your binary team and receive $40,000
- UTA Diamond – have two Double Diamond on both sides of your binary team and receive $50,000
Bonus Global Pool
Good Time Life take 2.5% of company-wide investment volume and place it in the Bonus Global Pool.
The Bonus Global Pool is paid out quarterly to Diamond and higher ranked affiliates:
- Diamond ranked affiliates receive a share in a 1% pool
- Double Diamond ranked affiliates receive a share in a 1% pool
- UTA Diamond ranked affiliates receive a share in a 0.5% pool
Joining Good Time Life
Good Time Life affiliate membership is tied to an investment of $250 to $30,000 in bitcoin.
- Standard – $250
- Basic – $500
- Bronze – $1000
- Silver – $3000
- Gold – $5000
- Premium – $10,000
- VIP – $20,000
- Top – $30,000
The more an affiliate invests the higher their income potential via the Good Time Life compensation plan.
Good Time Life presents itself as your typical “give us real money for our worthless token points” MLM cryptocurrency opportunity.
As is typical of such schemes, UTA is marketed heavily on the premise it will be the next bitcoin:
UTA CASH is here to dominate the market, The same phenomenon that experienced Bitcon [sic] 8 years ago will happen with UTA COIN!
This is apparently based on an attached e-commerce platform, “Good Time Mall”.
Other than a few scattered items listed in Korean, there is no merchant activity on this website.
Alexa traffic estimates for the Good Time Mall website suggest the site is dead.
That designates UTA as a worthless altcoin, serving no purpose other than to provide Linda Hong and Alex Lee with an out when investor recruit dries up.
The MLM pointless altcoin model sees gullible investors hand over real money in exchange for a worthless pre-generated altcoin. In Good Time Life investors exchange bitcoin for UTA.
Linda Hong and Alex Lee hoard bitcoin and pay everyone out with more worthless UTA points.
Through an internal exchange, UTA can be transferred back to bitcoin and withdrawn – however this is enabled only for as long as withdrawals don’t eat into Hong and Lee’s profits too much.
Once a threshold is reached (typically when recruitment dies and withdrawals increase), Hong and Lee will disable/shutdown the internal exchange and do a runner.
Good Time Life affiliates are left holding worthless UTA points, which is not even publicly tradeable a year out of launch.
Short of recruitment commissions made by early affiliates, the majority of investors in MLM altcoin pump and dump schemes invariably lose money.