Charles Ponzi occasionally paid out money to investors to keep the idea going that it wasn't a scam
Topic: Is MLM ideal for bitcoin? - page 8. (Read 5452 times)
MLM and Pyramid Schemes are fundamentally different from Ponzi Schemes in the following way:
Charles Ponzi occasionally paid out money to investors to keep the idea going that it wasn't a scam
Charles Ponzi occasionally paid out money to investors to keep the idea going that it wasn't a scam
^ Right.
There are definitely some fraudulent MLM businesses that do exist and only profit when new members join. Most MLM businesses DO reward you for building a sales team, but they are indeed selling an actual product or service.
To answer Matthew from eariler...
I personally know and have met some people who have made $1 Million plus with LegalShield. Also I know Mary Kay has created some millionaires. I'm sure Amway has too. In fact, the Orlando Magic play in the Amway Arena (or Amway Center).
There are definitely some fraudulent MLM businesses that do exist and only profit when new members join. Most MLM businesses DO reward you for building a sales team, but they are indeed selling an actual product or service.
To answer Matthew from eariler...
I personally know and have met some people who have made $1 Million plus with LegalShield. Also I know Mary Kay has created some millionaires. I'm sure Amway has too. In fact, the Orlando Magic play in the Amway Arena (or Amway Center).
There are people who have made millions from legit MLM business. I just hate to see the good ones get lumped together with the real scams.
Okay, fair enough. I'll just ask then:What are those legit businesses?
Wikipedia excerpt:
Quote
The Direct Selling Association, a lobbying group for the multi-level marketing industry, reported that in 1990 twenty-five percent of members used MLM, growing to 77.3 percent in 1999.[17] Companies such as Avon, Electrolux, Tupperware,[18] and Kirby all originally used single level marketing to sell their goods and later introduced multi-level compensation plans.[19] By 2009, 94.2% of members were using MLM, accounting for 99.6% of sellers, and 97.1% of sales.[20] The DSA has approximately 200 members [21] while it is estimated there are over 1,000 firms using multi-level marketing in the United States alone.[22]
https://en.wikipedia.org/wiki/Multi-level_marketing
At the extreme of the spectrum, an MLM selling nothing but trying to profit only through recruiting new members, is pretty much the same as Ponzi Scheme.
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There are people who have made millions from legit MLM business. I just hate to see the good ones get lumped together with the real scams.
Okay, fair enough. I'll just ask then:What are those legit businesses?
Wikipedia excerpt:
Quote
The Direct Selling Association, a lobbying group for the multi-level marketing industry, reported that in 1990 twenty-five percent of members used MLM, growing to 77.3 percent in 1999.[17] Companies such as Avon, Electrolux, Tupperware,[18] and Kirby all originally used single level marketing to sell their goods and later introduced multi-level compensation plans.[19] By 2009, 94.2% of members were using MLM, accounting for 99.6% of sellers, and 97.1% of sales.[20] The DSA has approximately 200 members [21] while it is estimated there are over 1,000 firms using multi-level marketing in the United States alone.[22]
https://en.wikipedia.org/wiki/Multi-level_marketing
There are people who have made millions from legit MLM business. I just hate to see the good ones get lumped together with the real scams.
Okay, fair enough. I'll just ask then:What are those legit businesses?
Wikipedia excerpt:
Quote
The Direct Selling Association, a lobbying group for the multi-level marketing industry, reported that in 1990 twenty-five percent of members used MLM, growing to 77.3 percent in 1999.[17] Companies such as Avon, Electrolux, Tupperware,[18] and Kirby all originally used single level marketing to sell their goods and later introduced multi-level compensation plans.[19] By 2009, 94.2% of members were using MLM, accounting for 99.6% of sellers, and 97.1% of sales.[20] The DSA has approximately 200 members [21] while it is estimated there are over 1,000 firms using multi-level marketing in the United States alone.[22]
https://en.wikipedia.org/wiki/Multi-level_marketing
Why do I think MLM with Bitcoin is viable?
Am I missing anything?
- MLM itself is a practical business model when it's selling good products and services. (if it sells no goods but only to recruit, then it's a scam, ponzi scam, what's so ever.)
- Virtual products and services are ideal to sell through MLM. Virtual products or services, such as ebooks, music or video files, and numerous online services, such as linode VPS, are almost with fixed cost, yet with immense potential if they are proven to be popular, therefore guaranteeing endless flow of profit for those who participate MLM.
- The market cap of Virtual products and services is going to be much bigger than that of "real estates".
- Bitcoin is guaranteeing more participants since members could come from anywhere of the world.
- Building an Online MLM team with bitcoin is much easier than doing off-line, since traditionally, building an MLM team had to begin from acquaintance, but now, a participant is not bound to his or her circumstances. Imagine you can recruit through google adsense with a simple webpage.
- Last but not least, albeit not everyone would agree: todays income with BTC is probably going to be multiplied by itself, since Bitcoin is essentially a deflating currency.
Am I missing anything?
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There are people who have made millions from legit MLM business. I just hate to see the good ones get lumped together with the real scams.
Okay, fair enough. I'll just ask then:What are those legit businesses?
MLMs are ponzi schemes. Bitcoin's most popular activity in 2011 were ponzi schemes. The question isn't "Is MLM ideal for bitcoin", as that's a "duh". It's "is there still a chance anyone in bitcoin isn't tired of ponzis?" and that answer is also "duh". Take a look at the lending subforum for proof.
I beg to differ... MLM and Ponzi Scheme are not the same thing, there're still some fundamental differences between them.
Taking MLM as Ponzi Scheme is somewhat like taking Bitcoin as Ponzi Scheme, focusing too much on minor similarities while neglecting obvious differences.
Pyramid scheme. Not ponzi scheme, sorry.
I LOL when people categorize MLM's as pyramid schemes. Do you realize MOST businesses are pyramid schemes? What's wrong with a pyramid? It is simply the word scheme that gets a bad rep.
CEO
President(s)
Vice Presidents
Regional Managers
Middle Management
Regular Old Employees
President(s)
Vice Presidents
Regional Managers
Middle Management
Regular Old Employees
Plug that into a pyramid if you'd like.
There are people who have made millions from legit MLM business. I just hate to see the good ones get lumped together with the real scams.
Is Multi-Level Marketing ideal for bitcoin?
I found a MLM website using BTC, but before I join it, I want to ask fellows in this forum, why wasn't any popular MLM service before?
any idea?
I found a MLM website using BTC, but before I join it, I want to ask fellows in this forum, why wasn't any popular MLM service before?
any idea?
MLM depends on who is running it. What is the link to their site?
https://btcmlm.org
I personally think they're promising.
Thanks... if they arent promising, it should at least be interesting.
Are they offline? (They look pretty spammy https://bitcointalksearch.org/topic/btcmlm-random-scam-spam-in-my-email-many-many-times-today-179893 )
and
https://bitcointalksearch.org/topic/btcmlmorg-scam-spam-179560
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MLMs are ponzi schemes. Bitcoin's most popular activity in 2011 were ponzi schemes. The question isn't "Is MLM ideal for bitcoin", as that's a "duh". It's "is there still a chance anyone in bitcoin isn't tired of ponzis?" and that answer is also "duh". Take a look at the lending subforum for proof.
I beg to differ... MLM and Ponzi Scheme are not the same thing, there're still some fundamental differences between them.
Taking MLM as Ponzi Scheme is somewhat like taking Bitcoin as Ponzi Scheme, focusing too much on minor similarities while neglecting obvious differences.
Pyramid scheme. Not ponzi scheme, sorry.
MLMs are ponzi schemes. Bitcoin's most popular activity in 2011 were ponzi schemes. The question isn't "Is MLM ideal for bitcoin", as that's a "duh". It's "is there still a chance anyone in bitcoin isn't tired of ponzis?" and that answer is also "duh". Take a look at the lending subforum for proof.
I beg to differ... MLM and Ponzi Scheme are not the same thing, there're still some fundamental differences between them.
Taking MLM as Ponzi Scheme is somewhat like taking Bitcoin as Ponzi Scheme, focusing too much on minor similarities while neglecting obvious differences.
hero member
Activity: 588
Merit: 500
Hero VIP ultra official trusted super staff puppet
MLMs are ponzi schemes. Bitcoin's most popular activity in 2011 were ponzi schemes. The question isn't "Is MLM ideal for bitcoin", as that's a "duh". It's "is there still a chance anyone in bitcoin isn't tired of ponzis?" and that answer is also "duh". Take a look at the lending subforum for proof.
Is Multi-Level Marketing ideal for bitcoin?
I found a MLM website using BTC, but before I join it, I want to ask fellows in this forum, why wasn't any popular MLM service before?
any idea?
I found a MLM website using BTC, but before I join it, I want to ask fellows in this forum, why wasn't any popular MLM service before?
any idea?
MLM depends on who is running it. What is the link to their site?
https://btcmlm.org
I personally think they're promising.
If I'm not wrong, I've banned some of their owners here for spamming this site everywhere.
I saw the posts before you deleted... therefore I noticed and have been thinking whether join them...
MLM parties are not big money makers. They are social events. Sell a little over spot. Sell materials for and teach how to secure your wallets. Make up for small margins with volume. Talk about what you've learned. Have fun.
It's not true MLM unless higher ups are receiving commissions on the sales of people down-line.
I'm not trying to discourage the idea of Bitcoin parties, just be careful about promoting the concept as MLM if it's not because MLM has a pretty shitty reputation in general and you don't want to attach that baggage to yourself without reason.
MLM parties are not big money makers. They are social events. Sell a little over spot. Sell materials for and teach how to secure your wallets. Make up for small margins with volume. Talk about what you've learned. Have fun.
It's not true MLM unless higher ups are receiving commissions on the sales of people down-line.
I'm not trying to discourage the idea of Bitcoin parties, just be careful about promoting the concept as MLM if it's not because MLM has a pretty shitty reputation in general and you don't want to attach that baggage to yourself without reason.
Is Multi-Level Marketing ideal for bitcoin?
I found a MLM website using BTC, but before I join it, I want to ask fellows in this forum, why wasn't any popular MLM service before?
any idea?
I found a MLM website using BTC, but before I join it, I want to ask fellows in this forum, why wasn't any popular MLM service before?
any idea?
MLM depends on who is running it. What is the link to their site?
https://btcmlm.org
I personally think they're promising.
If I'm not wrong, I've banned some of their owners here for spamming this site everywhere.
Is Multi-Level Marketing ideal for bitcoin?
I found a MLM website using BTC, but before I join it, I want to ask fellows in this forum, why wasn't any popular MLM service before?
any idea?
I found a MLM website using BTC, but before I join it, I want to ask fellows in this forum, why wasn't any popular MLM service before?
any idea?
MLM depends on who is running it. What is the link to their site?
https://btcmlm.com
I personally think they're promising.
Is Multi-Level Marketing ideal for bitcoin?
I found a MLM website using BTC, but before I join it, I want to ask fellows in this forum, why wasn't any popular MLM service before?
any idea?
I found a MLM website using BTC, but before I join it, I want to ask fellows in this forum, why wasn't any popular MLM service before?
any idea?
MLM depends on who is running it. What is the link to their site?
I've thought about starting a wiki of how to run MLM style Bitcoin parties at home. If you have all the educational materials you need, it would be easy to sell them. There are already cash for gold parties like this.
What is being sold that would be an incentive to offer a party? There's no residual income.
I've thought about starting a wiki of how to run MLM style Bitcoin parties at home. If you have all the educational materials you need, it would be easy to sell them. There are already cash for gold parties like this.
What is being sold that would be an incentive to offer a party? There's no residual income.
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