How is bitcoin not multi level marketing?

Yanisumin

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Quote from: dothebeats on June 07, 2017, 10:44:59 AM

To know the difference between the two, you must know what multi level marketing is and know what bitcoin is. Bitcoin is more of like a stock investment because we are buying into the share of 21m mineable coins in existence and the value just keeps on appreciating due to trading. MLM is pure scam, people controlling an organization and recruiting people to buy in in hopes of greater returns. The last one who joins the pyramid ends up losing, the top of the chain would rake in all the profits. See, there is a big difference between the two.

Very well said. I think, there's a reason why he has that idea and it is maybe because there are so many pure scam online that is usings bitcoins name. When you look at the social medias there are so many pyramiding and ponzi scheme, that ask for profit and a higher return. Well, in my opinion bitcoin itself is not a multi level marketing but we can use it to have one. The bright plans that bitcoin can bring can be turned into a bad ones because of its versatility of usage.

TastyChillySauce00

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Quote from: xuan87 on June 07, 2017, 07:39:44 PM

Many of my friends consider bitcoin as MLM but I don't see it that way for me bitcoin is just another currency, all of us got more advantage when more people join bitcoin, so it doesn't matter what it is called as long as everyone got advantage, but we need clarify that bitcoin is legit some people think MLM is a scam thing

That's actually because some shitty ponzis back then entitling themselves that they're officially supported by bitcoin or even the local exchanges company. Therefore, so many people who're pretty lazy to read or I often call it denial just blindly accepting the fake fact that Bitcoin is part of MLM and denying the truth that bitcoin is mere currency but in digital form.
Pretty confused about how this kind of people could survive nowadays despite their close-minded brain which could drive human to extinction LOL.

GreenBits

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Quote from: xuan87 on June 07, 2017, 07:39:44 PM

Many of my friends consider bitcoin as MLM but I don't see it that way for me bitcoin is just another currency, all of us got more advantage when more people join bitcoin, so it doesn't matter what it is called as long as everyone got advantage, but we need clarify that bitcoin is legit some people think MLM is a scam thing

I for the life of me don't understand how bitcoin could ever be construed as a mlm. It has literally none of the features of a multi level marketing scheme; no down line, no dependence on others to purchase in order to maintain value. Most importantly, no greatest fool (I'm referring specifically to pyramid schemes) as the last guys to mine bitcoin will be just as good as the first (well, not quite so lovely, but well enough).

Chin Cheng

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Quote from: xuan87 on June 07, 2017, 07:39:44 PM

Many of my friends consider bitcoin as MLM but I don't see it that way for me bitcoin is just another currency, all of us got more advantage when more people join bitcoin, so it doesn't matter what it is called as long as everyone got advantage, but we need clarify that bitcoin is legit some people think MLM is a scam thing

There is no advantage in more people joining bitcoin and it is evident with the increase in transaction fees and the delays we are encountering because the amount of transaction increased and it began the ripple effect we are facing right now,so what do we need instead of more number of users,we need huge investors. Tongue

People without knowing the basics of economics are trying to figure out things and so is the reason we hear all these terms.@ OP is stock exchange a multi level marketing ,just want to know what you think about that.

Weatherby

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Quote from: BullCreek on June 07, 2017, 08:07:22 AM

We tell our friends about it and they buy it at 10% more than you paid for it just because you have the in.
Did they really need this in their lives?

I am not mad at you because by the level of doubt you have i can understand that your are just a kid,it is good to understand more things,hope you have heard about real estate,do you know how it works,do you consider that as a multi level marketing platform,if you have a product which has less volume and more users wanting those then the price will rise,it is not astrophysics and that is happening in bitcoin too.

xuan87

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Many of my friends consider bitcoin as MLM but I don't see it that way for me bitcoin is just another currency, all of us got more advantage when more people join bitcoin, so it doesn't matter what it is called as long as everyone got advantage, but we need clarify that bitcoin is legit some people think MLM is a scam thing

hatshepsut93

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Quote from: BullCreek on June 07, 2017, 08:07:22 AM

We tell our friends about it and they buy it at 10% more than you paid for it just because you have the in.

Did they really need this in their lives?

Because Bitcoin is a p2p currency protocol, it was create with a purpose of allowing people to transfer value without middleman. While MLM schemes are created with a sole purpose of generating profit to people on the top. Bitcoin doesn't care if you are talking about it to your friends, it increases in price because investors all over the world see its potential, not because its users are luring newcomers to buy it.

mrcash02

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There are Multi Level Marketing schemes using Bitcoin, but Bitcoin isn't one itself. It's not even necessary to invest to start earning Bitcoins, different from MLM, which you need to pay some money to join the scheme.

Better to stay away from MLMs, especially those scams using Bitcoins, if you join it you will be just wasting your precious satoshis that could price a lot in the future. If you want to receive comission over your friends earnings, join some paying BTC sites like FreeBitco.in and Crypto Casinos, send your referral link to your friends and you will receive some % over their earnings. It's not MLM anyway. Cheesy

ImHash

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Not really, we're milking them like the cows they are by marketing something like bitcoin Cheesy

people will have to see for themselves and decide, no one forcing them to buy and invest. If I tell my friend(s) to buy bitcoin is not because I'm marketing it but I want them to benefit like I do.
At least they can easily earn a few percents just by holding their coins., do you think if bitcoin was some kind of ponzi or like pyramid programs we'd told our friends and family to get in? In bitcoin I believe that risk is much lees than potential of earning profit, if you invest you could make sure that price won't crash over night because there are already a few large companies invested enough to not let that happen, but price going up is something inevitable. so why not?

Kprawn

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Ask yourself this question : Do you get rewarded for every person you introduce to Bitcoin and do they form part of your "downline" network of

referrals? The 10% increase in the price is not guaranteed, because the Bitcoin price is determined by supply & demand. It works like any other

commodity, but the only difference is... we know the 21 000 000 will be the supply cap. { In this way it is better than gold... because new gold

deposits are found frequently and this increase the possible supply. } Tongue

dothebeats

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To know the difference between the two, you must know what multi level marketing is and know what bitcoin is. Bitcoin is more of like a stock investment because we are buying into the share of 21m mineable coins in existence and the value just keeps on appreciating due to trading. MLM is pure scam, people controlling an organization and recruiting people to buy in in hopes of greater returns. The last one who joins the pyramid ends up losing, the top of the chain would rake in all the profits. See, there is a big difference between the two.

foxbat

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Quote from: BullCreek on June 07, 2017, 08:07:22 AM

We tell our friends about it and they buy it at 10% more than you paid for it just because you have the in.

Did they really need this in their lives?

Quote from: Dude.Lebowski on June 07, 2017, 08:42:44 AM

Quote from: BullCreek on June 07, 2017, 08:07:22 AM

We tell our friends about it and they buy it at 10% more than you paid for it just because you have the in.

Did they really need this in their lives?

Bitcoin is multi level marketing the same way gold is multi level marketing.

I don't give my friends or family investment advice. Best way to loose friends.

I think this is not the right way for bitcoin. Bitcoin is really a coin, it's valuable, and it's absolutely reputable, it has its own company and is run by really talented people, its use brings many benefits to the community. It's really a product, a fortune, it's so strong that it's a gold pass, it's a real coin. Multi-level marketing is a completely false way of calling.

audaciousbeing

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I would add that its a myth to think bitcoin is an MLM because people just focus in the increasing side if bitcoin without understanding the reasons for the increase and are not bothered about learning of what leads to it and the moment there is a crash, they won't even wet their appetite with knowledge they conclude that its what they hold true that eventually happened. But to me, if there is any MLM that have stayed this long and have a technology that backs it up, that have attracted the interest of government of countries or even committees are set up to make better, then that is when we can begin to compare bitcoin with MLM.

Ucy

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I am a novice in cryptocurrency field but from the little I know, Bitcoin is created by solving sophisticated maths problem. It hard to mine or better still It takes alot of hardwork to Mine. Can't be exhausted and It can last forever(I guess "last forever & can't be exhausted " are why it's choosen as currency)
These are what make Bitcoin valuable(rare stuff are valuable right?) and valuable things are attractive to people. People buy and sell valuables as well as use them as currency.

Multi level marketing scheme can't do even 30% of what Bitcoin can do(what I listed above).

krishnapramod

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Quote from: BullCreek on June 07, 2017, 08:07:22 AM

We tell our friends about it and they buy it at 10% more than you paid for it just because you have the in.

Did they really need this in their lives?

How could bitcoin in itself be a MLM scheme? Bitcoin is a currency, not an organization where you will get paid for introducing people to it, but it's just that some of the MLM companies have Incorporated bitcoin or altcoins as a payment option. And then there are pyramid schemes.

I guess for most of us speculating bitcoin price is somewhat a tricky affair. People below the age of 20 and above 60 have invested on bitcoins, some of them have studied the bitcoin market thoroughly, gone through the charts, speculating events which might boost BTC price and others are just going with the market flow. It would not be possible to predict an accurate BTC price at any given point in time so in my opinion introducing friends or family to bitcoin is awesome, but let them decide if they want to buy or invest.

Dude.Lebowski

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Quote from: cryp24x on June 07, 2017, 08:57:41 AM

Quote from: Dude.Lebowski on June 07, 2017, 08:42:44 AM

Quote from: BullCreek on June 07, 2017, 08:07:22 AM

We tell our friends about it and they buy it at 10% more than you paid for it just because you have the in.

Did they really need this in their lives?

Bitcoin is multi level marketing the same way gold is multi level marketing.

I don't give my friends or family investment advice. Best way to loose friends.

To know if Bitcoin is a multilevel marketing you should know what multi level marketing is.

Quote

Multi-level marketing is a strategy that some direct sales companies use to encourage their existing distributors to recruit new distributors by paying the existing distributors a percentage of their recruits' sales; the recruits are known as a distributor's "downline."

Bitcoin is not controlled by any company, it is under an open market and it does not give a percentage to anyone who encourage people to buy bitcoin. So Bitcoin is not a multi level marketing.

Don't make me post a definition of comprehending Wink

myternity

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Yo!

The main point of MLM is building network and get a percentage of their revenue

YuginKadoya

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Quote from: brokedummy on June 07, 2017, 08:50:55 AM

yeah, I gave good investment advice to friends and family after the 2013 bubble and nobody listened, now they probably resent me because I was right. On this bubble instead of advising them to invest their own money I tried giving away some of my interest bearing cryptocoins to friends and family and that also failed because it seems like MLM. This was pretty upsetting to me and now I don't offer any advice or free money. Fuck these losers, I told them straight up, never ask me for money ever again if you can't take my free money now. They don't trust me enough to download a wallet, well I won't give a shit if you are eating dogfood in twenty years, they are all dead to me now.

Don't Resent someone for just being so stubborn about something that they can't understand at all this is your family and friends after all you are talking about, I think you need to take it easy for a while I think they need time to really take it in all of what you are teaching them, all you need to do is be a millionaire yourself so that they would really think that they have miss a great opportunity, take it easy and just relax.

bamboylee

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Quote from: BullCreek on June 07, 2017, 08:07:22 AM

We tell our friends about it and they buy it at 10% more than you paid for it just because you have the in.

Did they really need this in their lives?

They can also buy it 10% less if they wait for a dip. And they don't need it in their lives. No one is forcing anyone to buy bitcoin. But it is a good investment though as experienced by those who got in early and enjoying x1000 profit.

BillyBobZorton

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Same argument could have been made for gold or any other investment whatsoever. You have to look at the fundamentals, bitcoin is not some nonsense scam company.

In any case, I stay away from telling friends or family to buy bitcoin, that's a bad idea. Let them find it and decide by themselves.

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