Topic: Altcoin Magazine: New Trend In Crypto - Marketing & Earning On Smart Contracts (Read 353 times)

Other blockchains are joining the trend, now there's one built on the TRON platform, Cryptofriends, and it uses TRX and TRX wallets accordingly - https://medium.com/@cryptohands/cryptofriends-now-on-the-tron-blockchain-fecacad8eb1a

I have not seen bitcoin as a kind of MLM. Multi Level Marketing is strictly what it is..A situation based on first come, first serve scheme, this is just what it is. MLM is beneficial for the first comers and there won't be a time that every member will benefit and , it is doom to crash.

On the part of bitcoin, it is a business investment, not dependent on new comers to succeed. They are quite different.

Let's take Cryptohands as example (on the Medium post we talk about several more and you can go to their respective websites for more detailed information about each) https://medium.com/altcoin-magazine/new-trending-in-crypto-multilevel-marketing-on-smart-contracts-9cdaedeab6e1

https://miro.medium.com/max/604/1*smWQjlo2aSF-adjqEsCbHw.png

The Smart Contract provide a trinary referral system as shown in the pic above. Every user will join with an external ETH wallet (Trustwallet, Metamask, etc).Only the user has access to his own wallet. The contract creators have no means to enter the user's wallets and take any funds from there.

Once the user pays for the first level (0.05 ETH), which can be automatic with just 1-2 clicks from Metamask, then he has joined the system and can start to refer other people. He will get back his investment with the first referral he bring to the platform. After that, is up to each person if they want to purchase the next levels, which can be solely from profit, the only investment needed is the initial one of 0.05 ETH. For example, once you bring 3 people to the system, that's 0.05x3=0.15 ETH, and that's the cost of the second level. Below you can see the price and income for the next levels.

https://miro.medium.com/max/1158/1*AKTLjLz8je0FOQDFNprZ_g.png

And then, it depends on how much effort you put in and how efective you are refering new people to the system. You can receive free referrals from time to time from people who came without a referral link to the system, but I wouldn't rely on this only, so better to work and build a team bellow you. The more active your downline, the more your earnings. The same works for your uplines.

Some people have Youtube channels or Blogs, some approach individually, others advertise their links on paid platforms or on the Social Media. There are many ways to get referrals.

Here's another article covering Cryptohands https://medium.com/@cryptohands/a-low-risk-and-easy-way-to-invest-into-cryptocurrency-dd3486edd504 and you can find more info on their website, or search on Youtube, there are already a few videos about this platform in English. You can as well check any real earnings and the structure of each participant inputing their wallet address on the Cryptohands website. Also can check Etherscan for any wallet, transaction and all contract interactions https://etherscan.io/address/0xA315bD2e3227C2ab71f1350644B01757EAFf9cb4

As I said before, the platform itself doesn't pay anything, so can't really "stop" paying. Transfers are always from user to user, so if someone gets in with your referal link, the 0.05 ETH goes directly to you. The same works for the rest of the levels. The structure can't really collapse. The way I see it, is that people can lose interest at some point and the hype will slowly die. But even in this case, if after some time someone decide to start inviting people and building a team again, they still can make money because the Smart Contract will still be there, as long as the ETH network or the Internet exists.

From the other hand, the interest from other countries it's just growing at the moment, so I don't see how it could "die" anytime soon.

Sorry, it seems that I can't post images here, but I leave the links in case someone wants to see them.

Why dont you give us the details and every details here about the MLM program and how this thing work? I believe many of them will try to get some money here but without the proof there is no way they will get his hand on. And btw how can you assure that they will keep on paying? Because as I know as long as there is a members join then the money flow will be good and if there is no more people join them the whole structure will collapse

One very nice feature of these kind of platforms is that there are no admins. The "Admin" is the smart contract itself, is just a program that sets the behavior of the platform - and, it can't be modified, so the rules are set "forever". The website is just for the convenience of the user, the smart contract will keep functioning in the event the site is hacked or even disappear.

Also, there's no need to request payouts, as the funds are always transferred directly between the participants wallets. The Admin (Smart Contract) keeps always a ZERO balance. There's nobody to take your funds and run away. You just need to take the usual security measures to keep your wallet safe, which is a 3rd party (Metamask, MEW, Tronlink, etc) and has nothing to do with the platform.

You don't need necessarily to be at the very top to make some profit, you can start building up your downline and referrals from any possition on the whole structure.

Everything that do not have scammers will always be safe and that applies on every marketing strategy as well but in the mean while it is not that easy to get the money payout though. And we never know where does this money that he gets from because whenever one source dead then this MLM strategy will never be succeeded anymore. And the downline should working hard to get more members as well and it will always like that until some of them stuck and get no members then it turns out top management will run away with tons of this money. 10 years is too much I guess, around 5 years for something uncertain things like this already good enough

there is nothing bad about MLM , most of the top companies are working as some kind of a MLM scheme
for example, affiliate programme is one of the examples of MLM , it allows to bring in new members and share a part of the revenue
multi level marketing companies always have some product or a service to sell
unlike HYIPs and ponzi/pyramid schemes where the money come from the people who joined later with no product to speak of
blockchain MLM , smart contract MLM etc. is just a way of organizing the business , there is nothing revolutionary about it
blockchain makes it easier to have a ledger in one place and monitor all of the transactions, sales and things like that
and smart contracts on top of that allow to execute orders automatically , so I am sure we will see more and more happy startups and businesses adopt or try to implement the model

Sure, nothing is 100% perfect. But if you know how a Smart Contract works, you should know that once is written and loaded on the Blockchain, that's it, it can't be changed. More about the Smart Contracts can be found here: https://www.bitdegree.org/tutorials/what-is-a-smart-contract/

From article cited above: "Because of blockchain technology, we are able to decentralize smart contracts so that they are fair and trustless. By decentralizing, I mean that they are not controlled by one central party (like a bank, broker or government, etc.)"...

Of course, the Ethereum network can disappear or fail, but the chances of this happening are very slim. Must, if not all, of these smart contracts were audited by 3rd parties and no vulnerabilities were found, if that's the concern. And, again, ALL funds are in the wallets of the participants always. The contract keeps ZERO balance all time. For example: https://etherscan.io/address/0xA315bD2e3227C2ab71f1350644B01757EAFf9cb4

The stats as per today for this specific platform are:

Total: 60,722 transactions
5884.50 ETH
equivalent to BTC 113.9795 BTC
equivalent to $ 1,161,411.41

So, who people can reach out? Buterin? Metamask support? Is the same with Bitcoin - "what if there's a bug?" It works by itself, therefore, there's no need to reach anybody about the Bitcoin Blockchain work or maintenance. It will be there as long as it's supported by enough minners and the community. I thing the keyword here is Decentralization.

All of these projects, from the other hand, have active Telegram or other social channels where the creators or other participants help each other with any questions related to the platforms and the marketing strategies.

I guess many people haven't even looked at how these platforms work, they get scared just by reading the words Multilevel Marketing. And amazingly, the same people promote and refer roulettes, casinos, jackpots, etc, where people risk to lose much more money than on the projects this topic is about.

Whatever innovation the MLM industry does, I simply know it is a trap. The end user will always be at a loss. It does not matter if they implement Blockchain to a chain system, ultimately the chain will break. The best thing to do is to stay away from such Scams.

Perhaps, OP should explain everything or might as well they have to show some sources to prove that there is no human intervention but I doubt it hasn't a single one.

There is no perfect application everything has its own flaws so I'm 100% sure that there is someone behind all of this and just like what @audaciousbeing said, "what if there's a bug?" I'm pretty sure someone has to fix it, right?

Rather than taking your time and energy to try an explain what MLM is and what its not, which won't even make nay significant difference from the general view that a lot of people have maintained concerning the term, it would be more effective to give this strategy of yours another nomenclature for it to even be able to attract the attention of stopping by.

Really, I am impressed by what its trying to achieve from the Ops but the point of no human intervention whatsoever, is something that needs to be looked into. There could be bug, there might be compromise at some point. At that time who should the participants then reach out to, who should be held responsible and who should be the custodian. Even auto pilot feature of planes or vehicles still have the element of humans intervention.

People arent that patient enough to wait up for too long and come to think that not all are good with inviting someone or isnt that good on referring to other people
which in result they do rather prefer on putting up money on a typical gambling site that can give out instant or fast results or any other investment that doesnt involved on waiting   
Investments is indeed considered gambling though because of the risk involved .

Same, you can't assure people will keep betting or spending money in any gambling project or platform. So...?

The people at the bottom can still do some effort and refer others to the platform, don't expect to make profit just by sitting and waiting.

And BTW, under the Gambling section says "Gambling and all "investments" that are so risky they might as well be gambling (HYIPs, pyramid schemes, etc.)"

This isnt on the right section since this doesnt involve any gambling on it. MLM? We're already done to these type of marketing or system.
Even this one do use up smart contracts and no people/admin involved on the chain its still not feasible.Why? You can assure that there would someone
will join up the chain everytime and to those people who are on the bottom will need to wait like forever. LOL!

Even if without scammers, MLM is still not a good idea to promote since what OPs offering is a similar to HYIP, unless if they do have products that they want to sell and someone buys it. I believe that would be the real essence of a real MLM, selling products to everyone in the team or recruiting people through referral but not like this, it is very similar to the Pyramid scheme. I hope i get my point.

MLM is safe at a level when there is no scammers in the team. Normally MLM market will reach the top of the ladder, it just depends on when. There is none that has lasted 10 years on a stretch. Now that a lot knows about the gimmicks, they try be the first beneficiary and run, whereas experience team are smart enough to handle them

It is still an MLM though, I mean it can be called different things in the end but when everything is said and done and the p2p ways are taken away it is just another MLM that is started by just one and then grew bigger.

Doesn't have to actually have a centralized organization that keeps getting feed by the people who are coming in, in MLM there is always this one big whale that everyone is connected to, no one starts with no connection, same is here as well, instead of one person you have one address or one account that you are connected to, so basically it just takes away the accounting procedures out of the way and makes you connect with each other easily. That is why there is no way you can separate this from a non-decentralized MLM and should stay away anyway.

I just wanted to share this and if people are interested they can read the full article following the link. This is not about standard MLM projects or companies, but about the ones built on the Blockchain. The BIG difference is that they are decentralized, the contract is on the Blockchain open to the public and can't be modified. All these articles you give the links are about "regular" MLMs, which is related of course, but not what is specifically the topic about.

One of these projects can be checked btw at https://dappradar.com/app/1536/cryptohands, they have a steady daily volume for the last few months and now are at the 3rd place in the Dapp rankings for Ethereum. But, this is a quite new thing on MLM and Smart Contracts, so we definitely need more time to see where will be after a while. And as one of the users mentioned above, always do your research, and only invest (and gamble with) what you can afford to lose.

I am confused which is actually the MLM site, in gambling you mean.

However, you also post in the (Altcoin Discussion) section.

Topic: Altcoin Discussion
Topic: Altcoin Magazine: New Trending In Crypto - Marketing On Smart Contracts

Now in the gambling section, the strange thing is that the web that you give both topics is the same and you copy all the contents of your topic.

So, haven't added any information about your topic, because you don't display anything useful besides your copy.


For example:

The Top 100 Best MLM Companies (2019)

12 Tips to MLM Success

What Are the Top MLM Companies in 2018?

The Likelihood of MLM Success

Maybe, you can add something that can be updated about MLM. But I don't think it's enough to just stick to your topic here.

I do not think that any MLM scheme will work towards this gambling program, since it does not have really good image here. Many MLM site starting few years ago amd in the end they start scamming everyone money, even if you said that it is a smart contract which no people involve but still no one are going to try losing some money around. It is going to stop at some point where people will not get any payment

MLM is Awesome, and the worst of marketing all packed into one single simple idea.... where one person loses their cash the other gains it.
so you are on one side of the fence or the other. "if participating"
even bitcoin at times is considered MLM to those who dont understand it and just like MLM btc has made alot of people rich and alot very poor and even sent many to jail.
be careful with your cash and remember  it is your responsibility over your money!
dont go to the ocean and you wont get bit by a shark
dont go to the forest and you wont get eaten by a bear
be careful and vigilant
and most of all take your own responsibilities over your own actions!

Multilevel Marketing is not an evil by itself. It just been used so many times to cheat and scam people. Like an ICO, is not necessarily a bad thing, but many scammers used it to make quick money. Many "legit" businesses and financial schemes work like a pyramid: lending, bonds, banks, investments, etc. So, an MLM is just a marketing tool to promote your product or service.  From the other hand, many people have joined MLM's hoping to make money quick without really doing anything (same for ICOs, Gambling, Lottery, and so on) and when they don't make money, they just call it a scam or a pyramid. In this article, we just describe a new trend on the Multilevel Marketing Industry, where new and old technologies are combined.

In MHO, the best thing of these platforms is that you are always on control of your funds, and is up to you to refer people and earn money. The contract is on the Blockchain and can't be modified, nobody can take your money and change the rules, and nobody is trying to cheat anybody here. And everything is transparent, you can check anytime any wallet participating in the platform, including the ones from the creators and the smart contract itself (which is always 0 btw).

Personally, I think this is much better than gambling, per instance, or a lottery, where everybody losses his money and just 2 or 3 win something (if it is a legit one of course). In this kind of platforms, it depends on your effort actually. So, everything is on the table, people can see, do their research and decide by themselves if they want to participate in something like this.

Some of us are not comfortable with the word "MLM" that can explain why someone has triggered yellow warning to your profile. A lot of people has been hurt by MLM, just like HYIP and other similar schemes.

What you are promoting is called Pyramid Scheme, except I am not getting you right? Maybe you can take enough time to convince members of this community, and explains things better if you think that yours is legitimate. But I doubt if MLM can ever be seen as legitimate and "Ok" scheme. That's MHO.

The MLM Industry is discovering a new way to build Multilevel Marketing Structures based on the Blockchain.

The main PLUS of these platforms is that they are MACHINE CONTROLLED, no human factor involved, no admins, no bankers, etc. The structure is built on a Smart Contract on the Blockchain and it CAN’T be deleted or modified.

The payments are always between the users, P2P, the contracts just function like a “corridor” for the transactions.

So, the people who join these projects or platforms can be 100% sure that nobody will take their money and run away. The payments go straight to their wallets. The balance on every Smart Contract is ALWAYS ZERO. No need to “request” payments or dividends. The website is just a Panel to visualize the structure. Scam, by default, it’s not possible.

Read more: https://medium.com/altcoin-magazine/new-trending-in-crypto-multilevel-marketing-on-smart-contracts-9cdaedeab6e1