Thanks for reading our BCoinShare Review! Is this REALLY a Ten-Tier Bitcoin Cash Gifting Scam?
Keep reading to find out!
There is absolutely no information whatsoever on the BCoinShare website indicating who owns or runs the business.
The BCoinShare website domain, bcoinshare.com, was registered privately on October 18th, 2016.
The official BCoinShare Facebook group lists one administrator, Mike Anderson.
BCoinShare Review
The Mike Anderson profile seems to be bogus, having only been made on the 29th of September. The profile began publishing promotion material for BCoinShare shortly after it was formed.
If an MLM company is not willingly truthful about who is running or owns it, think long and hard about joining and/or handing over any money.
BCoinShare Product Line
The program BCoin has no retailable products or services, and affiliates are only able to market BCoin affiliate membership itself.
BCoinShare Comp Plan
The BCoin compensation plan has affiliates gift bitcoin to one another through a 2×10 matrix.
A 2×10 matrix puts an affiliate at the top of a matrix in BCoinShare, with 2 spots directly underneath them.
These 2 spots form the initial Level of the matrix in BCoinShare. The 2nd Level of the matrix is created by dividing each of the 2 spots into another 2 spots each.
Ensuing Levels of the BCoinShare matrix are created in the same manner, with every new Level holding twice as many spots as the preceding Level.
In total, a whole 2×10 matrix holds 2046 spots.
Every Level of the BCoinShare matrix acts as an independent cash gifting tier, with a subscription payment required in order to “unlock” the Level.
This payment qualifies a BCoin company affiliate to receive gifting payments from other affiliates who are put in their matrix as follows:
- Level 1 – gift 0.04 BTC to the affiliate who recruited you and receive 0.04 BTC from two subsequently recruited affiliates
- Level 2 – gift 0.08 BTC and receive 0.08 BTC from four affiliates
- Level 3 – gift 0.1 BTC and receive 0.1 BTC from eight affiliates
- Level 4 – gift 0.2 BTC and receive 0.2 BTC from sixteen affiliates
- Level 5 – gift 0.3 BTC and receive 0.3 BTC from thirty-two affiliates
- Level 6 – gift 0.4 BTC and receive 0.4 BTC from sixty-four affiliates
- Level 7 – gift 0.5 BTC and receive 0.5 BTC from one hundred and twenty-eight affiliates
- Level 8 – gift 0.5 BTC and receive 0.5 BTC from two hundred and fifty-six affiliates
- Level 9 – gift 0.5 BTC and receive 0.5 BTC from five hundred and twelve affiliates
- Level 10 – gift 0.5 BTC and receive 0.5 BTC from one thousand and twenty-four affiliates
Note: The above payments are subscription based (both received and paid), yet BCoin program does not divulge how often payments must be made.
Joining BCoinShare – Costs?
BCoin affiliate membership is completed by a periodic gifting payment of at least 0.04 BTC.
Complete participation in the BCoinShare MLM opportunity costs 3.12 BTC. This payment is a recurring subscription payment made over an unidentified period of time.
Our BCoin Conclusion
BCoin is added entry into the already swamped bitcoin cash gifting MLM niche.
There is nothing marketed to or sold to retail customers in BCoinShare, with all payments in the system made by and paid to BCoinShare affiliates.
Payments between affiliates in MLM constitutes cash gifting.
And again, as with all cash gifting schemes, once recruitment of new affiliates trickles down, so will gifting payments within BCoinShare.
And, at that point in time, the nameless administrator will shut the scheme down and disappear, leaving the mainstream of BCoinShare affiliates at a loss.
Most likely, the nameless BCoinShare administrator has set up a number of preloaded spots, which will safeguard they are paid the mainstream of funds which are deposited by BCoinShare affiliates.
The use of bitcoin, in the meantime, guarantees victim fund recovery in the event of a collapse is pretty much zilch.
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