MLS Bitcoin Club Review: Nine-tier bitcoin cycler Ponzi scheme
MLS Bitcoin Club provide no information on their website about who owns or runs the business.
The MLS Bitcoin Club website domain (“mlsbitcoinclub.com”) was registered on May 4th, 2017.
Darry Perkinson of WBI Enterprises LLC is listed as the owner, with an address in the US state of Georgia also provided.
MLS Bitcoin Club appears to have first launched about six months ago as MLS International BitCoin Club.
Prior to launching MLS International Bitcoin Club Perkinson (right) was promoting Conversion Pros, a lead generation business.
MLS stands for “Massive Leverage System”, a company Perkinson launched a while back.
On its website MLS claims to be a “private community” and promises to “deliver $10,000.00 (or more) in recurring income”.
MLS’ marketing pitch sees the company claim it teaches members how to
- build cash flow and create generational wealth through education
- rent out your stocks and
- buy & sell gold / cryptocurrency
It is assumed MLS Bitcoin Club forms part of MLS’ bitcoin offering.
Read on for a full review of the MLS Bitcoin Club MLM opportunity.
MLS BitCoin Club Products
MLS Bitcoin Club has no retailable products or services, with affiliates only able to market MLS Bitcoin Club affiliate membership itself.
Once signed up, MLS Bitcoin Club affiliates purchase matrix cycler positions.
Bundled with MLS Bitcoin Club cycler position purchases is access to “education”.
MLS Bitcoin Club claim their education
is one of the best in the marketplace today that teaches everything you wanted to know about cryptocurrency to include our number one product of bitcoin.
1- You’ll learn how to buy and sell bitcoin.
2- How to protect your bitcoin from hackers, as well as company own wallets.
3- You’ll learn why you need different wallets that include hot wallets, warm wallet’s and cold wallets.
4- You’ll learn about building your own portfolio that may include bitcoin.
5- You’ll learn how to include bitcoin in Your Own IRA accounts
6- and a lot more…
The MLS Bitcoin Club Compensation Plan
MLS Bitcoin Club affiliates buy positions in an nine-tier bitcoin matrix cycler. Commissions are paid when they recruit others who do the same.
The matrix sized used in MLS Bitcoin Club’s cycler is that of a 2×2.
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 two positions into another two positions each (4 positions).
Once all six positions in the matrix are filled, a “cycle” is generated and the position at the top of the matrix “cycles” into the next cycler tier.
Positions in the MLS Bitcoin Club cycler cost 0.04 BTC.
Once all six positions in the tier 1 matrix are filled, the position cycles into tier and the process repeats itself.
Payments across all nine of MLS Bitcoin Club’s cycler tiers are as follows:
- Tier 1 (positions cost 0.04 BTC) – 0.02 BTC commission, generates a new tier 1 matrix position and cycles into a new tier 2 matrix
- Tier 2 – 0.1 BTC commission, generates a new tier 2 matrix position and cycles into a new tier 3 matrix
- Tier 3 – 0.1 BTC commission, generates a new tier 3 matrix position and cycles into a new tier 4 matrix
- Tier 4 – 0.5 BTC commission, generates a new tier 4 matrix position and cycles into a new tier 5 matrix
- Tier 5 – 1 BTC commission, generates a new tier 5 matrix position and cycles into a new tier 6 matrix
- Tier 6 – 3 BTC commission, generates a new tier 6 matrix position and cycles into a new tier 7 matrix
- Tier 7 – 3 BTC commission, generates a new tier 7 matrix position and cycles into a new tier 8 matrix
- Tier 8 – 6 BTC commission, generates a new tier 8 matrix position and cycles into a new tier 9 matrix
- Tier 9 – 36 BTC commission and generates a new tier 9 matrix position
Joining MLS Bitcoin Club
MLS Bitcoin Club affiliate membership is tied to a combined tier 1 matrix position purchase and admin fee of 0.0455 BTC.
Like MLS itself, MLS Bitcoin Club claims to be a “membership site”;
MLS International Bitcoin Club is a Membership Site (Nothing to Sell, No Monthly Fees).
Through this membership site, MLS Bitcoin Club advertise affiliates will be able to “triple your bitcoin” through “member to member” payments.
In MLM “member to member” payments is cash gifting, with the marketing pitch of “triple your bitcoin” revealing MLS Bitcoin Club for what it is – Ponzi cycler.
An MLS Bitcoin Club affiliate signs up and invests 0.04 BTC into a cycler position.
This is done on the promise of an eventual 49.72 BTC ROI.
The ROI is sourced “member to member” from other affiliates, making MLS Bitcoin Club a Ponzi scheme.
As with all Ponzi schemes, once affiliate recruitment dries up so too will “member to member” payments.
This will see MLS Bitcoin Club’s matrix cycler stall, eventually resulting in a collapse.
The math behind a cycler sees a small amount of participants paid at the expense of the majority.
A cycler that generates new positions on every tier is particularly nefarious, as Darry Perkinson’s preloaded admin positions are first to generate new positions on each tier.
These positions work to extract the majority of invested funds, through effective pass-up fees to unlock each new tier (cycle fees).
The end result is Perkinson and a few early adopters making off with the majority of invested funds, and everybody else losing out.
I don’t know what else is in Perkinson’s Massive Leverage System, but if it’s anything like MLS Bitcoin Club, probably best to stay well clear.