Project Ethereum Review: 2×8 matrix ether gifting
Project Ethereum operate in the cryptocurrency MLM niche and name John Johnson as CEO of the company.
Johnson is based out of Utah in the US and appears to have worked in the real estate and finance industry (loans) for a number of years.
As per Johnson’s Project Ethereum corporate bio;
John Johnson has been in sales and marketing for the past two decades. John has started many different companies over the years and also spent time as a consultant for small businesses.
John was previously working within a Crypto Currency Platform and realized there as a better way to assist members on building ad [sic] receiving donations.
The “cryptocurrency platform” referenced above is Bitcoin Funding Team.
Bitcoin Funding Team launched back in February and saw affiliates gift bitcoin to each other via a 2×5 matrix. Alexa traffic estimates for the Bitcoin Funding Team website suggest the company went into decline in early May.
Read on for a full review of the Project Ethereum MLM opportunity.
Project Ethereum Products
Project Ethereum has no retailable products or services, with affiliates only able to market Project Ethereum affiliate membership itself.
Project Ethereum affiliate membership provides access to “Crypto University”, a collection of cryptocurrency ebook guides.
The Project Ethereum Compensation Plan
Project Ethereum affiliates gift ether to each other via a 2×8 matrix.
A 2×8 matrix places a Project Ethereum 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).
Levels three to eight of the matrix are generated in the same manner, with each new level housing twice as many positions as the previous level.
A Project Ethereum affiliate signs up and gifts $90 worth of ether to an existing affiliate.
This payment in turn qualifies the affiliate to receive $90 worth of ether from two affiliates recruited into the first level of their matrix.
Subsequent levels of the 2×8 matrix operate in the same manner, with each level requiring a gifting payment be made before payments are received from other affiliates.
- level 1 – gift $90 worth of ether to an existing Project Ethereum affiliate and receive $90 worth of ether from two subsequently recruited affiliates
- level 2 – gift $180 worth of ether and receive $180 worth of ether from four affiliates
- level 3 – gift $360 worth of ether and receive $360 worth of ether from eight affiliates
- level 4 – gift $900 worth of ether and receive $900 worth of ether from sixteen affiliates
- level 5 – gift $1800 worth of ether and receive $1800 worth of ether from thirty-two affiliates
- level 6 – gift $3600 worth of ether and receive $3600 worth of ether from sixty-four affiliates
- level 7 – gift $7200 worth of ether and receive $7200 worth of ether from one hundred and twenty-eight affiliates
- level 8 – gift $14,400 worth of ether and receive $14,400 worth of ether from two hundred and fifty-six affiliates
Note that all gifting payments within Project Ethereum (both paid and received) are monthly recurring.
Joining Project Ethereum
Project Ethereum affiliate membership is tied to a $90 worth of ether gifting payment.
Whereas typically matrix-based gifting schemes these days use bitcoin, Project Ethereum has opted to use ether.
Otherwise it’s the same cryptocurrency gifting model people have been losing money in over the last few years.
After likely having lost money himself in Bitcoin Funding Team, John Johnson (right) has worked out only the admins running gifting scams are guaranteed profit.
This is achieved through one or more preloaded matrix positions, which through pass-ups at each matrix level receive the majority of gifted funds.
A few early adopter affiliates receive some money, but by and large when a gifting scheme inevitable collapses the majority of participants lose money.
In Project Ethereum the break-even point is thirty days, after which if an affiliate hasn’t recruited two new victims into the scheme (or received spillover from other’s recruiting efforts), they start to lose money.
By the time enough Project Ethereum affiliates have realized this of course, Johnson will have already done a runner with their money.