Topic: The Multi-level Marketing scheme argument - page 4. (Read 5988 times)

Bitcoin's requirement of a continuing injection into the market for a currency which isn't used as one, bears similarity to the token-product, recruitment-focused nature of MLM schemes.

I'm a Bitcoin user. So how can I profit by recruiting others to use Bitcoin? By becoming a miner?

LOL.

And, it's not a currency.

What's wrong with multi level marketing?  A lot of people have made a ton of money through things like Amway, you just have to believe and be willing to work at it.  It isn't for everyone, but some people would just rather be their own boss instead of working a grueling 9-5.

That said, there isn't much in commong between those things and BitCoin.  It's just a currency.

Are you a miner?

How do I profit by recruiting people to use Bitcoin? And how do I profit when those people recruit people to Bitcoin?

Let me clarify that I don't mean to suggest there is a single quantifiable entity running the scam.

Bitcoin is kind of unique in that way, as it's sort of an emergent behavior driven MLM scheme. Quite fascinating really...

Bitcoin is not multi-level marketing. Triplemining is.

It seems you don't know very much about MLM making a blanket statement like that. Nor BitCoin. No matter how many posts you may have made.

No... It's not that .
Don't you see the difference between Amway and bitcoin? How about difference  between smart and stupid?

Bitcoin closely resembles an MLM scheme...

What are you trying to say?

Don't really need an argument on /. for this one, as it's obvious and should be apparent to anyone who's ever read:

http://en.wikipedia.org/wiki/Multi-level_marketing

From the wiki:


"Criticism has focused on their similarity to illegal pyramid schemes, price-fixing of products (BITCOIN BOTS, "EARLY ADOPTERS," EXCHANGE OPERATORS MANIPULATING MARKET PRICE), high initial start-up costs, emphasis on recruitment of lower-tiered salespeople over actual sales (RAMPANT SPECULATION VS. REAL ECONOMY), encouraging if not requiring salespeople to purchase and use the company's products (BITCOIN "ECONOMY"), potential exploitation of personal relationships which are used as new sales and recruiting targets (DITTO), complex and sometimes exaggerated compensation schemes (DITTO), and cult-like techniques which some groups use to enhance their members' enthusiasm and devotion (NEED I SAY MORE)."

AND:

"Independent, unsalaried salespeople of multi-level marketing, referred to as distributors (or associates, independent business owners, dealers, franchise owners, sales consultants, consultants, independent agents, BITCOIN MINERS, BITCOIN EVANGELISTS, etc.), represent the company (BITCOIN P2P NETWORK) that produces the products or provides the services they sell (ONLINE TRANSACTION PROCESSING, COMMODITY SPECULATION). They are awarded a commission based upon the volume of product sold through their own sales efforts as well as that of their downline organization (USD ENTERING THE MARKETS).

Independent distributors develop their organizations by either building an active customer base (BITCOIN EVANGELIZING), who buy direct from the company (BITCOIN EXCHANGE OPERATORS), or by recruiting a downline of independent distributors who also build a customer base (BITCOIN MINERS, BITCOIN MERCHANTS) thereby expanding the overall organization. Additionally, distributors can also earn a profit by retailing products they purchased from the company at wholesale price (EARLY ADOPTERS, BITCOIN MINERS)."