BitTrain offers no verifiable info on their web site about who owns or runs the enterprise.
The corporate does present a sequence of random names it claims are administration, nonetheless there’s nothing to assist these folks exist as represented.
For instance, BitTrain’s co-founders are supposedly Allen Coko (CEO) and John Kin.
Allen Coko doesn’t exist outdoors of BitTrain. John Kin’s social media profiles have been solely just lately arrange in December 2018.
Kin’s Twitter profile hasn’t been used for something aside from BitTrain promotion.
The BitTrain web site area (“bittrain.information”) was privately registered on February fifteenth, 2019.
Regardless of BitTrain not current up till a number of months in the past, the corporate claims it has been in enterprise since at the least Could 2018.
As at all times, if an MLM firm shouldn’t be brazenly upfront about who’s operating or owns it, suppose lengthy and laborious about becoming a member of and/or handing over any cash.
BitTrain Merchandise
BitTrain has no retailable services or products, with associates solely capable of market BitTrain affiliate membership itself.
The BitTrain Compensation Plan
BitTrain associates spend money on BitTrain Coin factors (BTRC), on the promise of an marketed 8% weekly return.
In complete there are eleven BTRC funding tiers accessible:
- Starter Pack – $100 plus $5 subscription charge
- Medium Dealer – $250 plus $10 subscription charge
- Lively Dealer – $500 plus $15 subscription charge
- Advance Dealer – $1000 plus $20 subscription charge
- Professional Dealer – $3000 plus $20 subscription charge
- Tycoon Dealer – $5000 plus $25 subscription charge
- Elite Dealer – $10,000 plus $25 subscription charge
- Premium Dealer – $25,000 plus $50 subscription charge
- Combo Dealer – $50,000 plus $100 subscription charge
- Mega Combo Dealer – $100,000 plus $100 subscription charge
- Millenium Combo Dealer – $250,000 plus $500 subscription charge
Word that the subscription charge interval shouldn’t be specified, nonetheless I consider it’s month-to-month recurring.
The inner BTRC level worth began at $1 again in January 2019.
As of Could fifth, BitTrain’s nameless admins are flogging BTRC factors for $4 every.
Word that every one BitTrain ROI and fee withdrawal requests appeal to a ten% charge.
Referral Commissions
BitTrain associates pays referral commissions by way of a unilevel compensation construction.
A unilevel compensation construction locations an affiliate on the prime of a unilevel crew, with each personally recruited affiliate positioned straight beneath them (degree 1):
If any degree 1 associates recruit new associates, they’re positioned on degree 2 of the unique affiliate’s unilevel crew.
If any degree 2 associates recruit new associates, they’re positioned on degree 3 and so forth and so forth down a theoretical infinite variety of ranges.
All BitTrain associates obtain a ten% fee on degree 1 of the unilevel crew (personally recruited associates).
Referral commissions on ranges two to 12 of the unilevel crew are unlocked as follows:
- make investments $1000 to unlock 4% on degree 2, 3% on degree 3 and a couple of% on degree 4
- make investments $5000 to unlock 1% on ranges 5 to eight
- make investments $10,000 to unlock 1% on ranges 9 to 12
Residual Commissions
BitTrain pays residual commissions by way of a binary compensation construction.
A binary compensation construction locations an affiliate on the prime of a binary crew, break up into two sides (left and proper):
The primary degree of the binary crew homes two positions. The second degree of the binary crew is generated by splitting these first two positions into one other two positions every (4 positions).
Subsequent ranges of the binary crew are generated as required, with every new degree housing twice as many positions because the earlier degree.
Positions within the binary crew are crammed by way of direct and oblique recruitment of associates. Word there isn’t any restrict to how deep a binary crew can develop.
To qualify for residual commissions, a BitTrain affiliate should recruit at the least two affiliate buyers (one positioned on each side of the binary crew).
On the finish of every day BitTrain tallies up new funding quantity on each side of the binary crew.
Associates are paid 10% of funds generated on their weaker binary crew aspect.
As soon as paid out on, funds are matched on each side of the crew and flushed.
Any leftover quantity on the stronger binary crew aspect is carried over.
Rewards
BitTrain associates obtain the next rewards as they generate accrued funding quantity on their weaker binary crew aspect:
- Government Dealer – generate $15,000 in weaker binary crew aspect quantity and obtain $150
- Government Chief – generate $30,000 in weaker binary crew aspect quantity and obtain a “pen” or $300
- Gold – generate $60,000 in weaker binary crew aspect quantity and obtain a “watch” or $600
- Sapphire – generate $100,000 in weaker binary crew aspect quantity and obtain an iPad or $1000
- Ruby – generate $250,000 in weaker binary crew aspect quantity and obtain an iPhone or $1500
- Emerald – generate $500,000 in weaker binary crew aspect quantity and have one Ruby on each side of your binary crew, and obtain an “Ibiza retreat” or $3000
- Diamond – generate $1,000,000 in weaker binary crew aspect quantity and have two Emeralds on each side of your binary crew, and obtain a C-Class Mercedes-Benz or $40,000
- Blue Diamond – generate $3,000,000 in weaker binary crew aspect quantity and have one Diamond on all sides of your binary crew, and obtain an E-Class Mercedes-Benz or $70,000
- Black Diamond – generate $10,000,000 in weaker binary crew aspect quantity and have three Blue Diamonds in your binary crew (break up two on the stronger aspect and one on the weaker aspect), and obtain a Porsche Panamera or $150,000
- Crown Diamond – generate $25,000,000 in weaker binary crew aspect quantity and have two Black Diamonds on all sides of your binary crew, and obtain a Lamborghini Aventador or $500,000
Becoming a member of BitTrain
BitTrain affiliate membership is free.
Participation within the connected MLM alternative nonetheless requires a minimal $100 funding.
Ongoing subscription charges additionally apply.
Word that every one investments into BitTrain should be made in bitcoin.
Conclusion
BitTrain is your basic Ponzi factors scheme.
Associates spend money on BTRC factors, which maintain no worth outdoors of BitTrain itself.
The one motive associates spend money on BTRC factors, is as a result of BitTrain represents they’ll go up in worth.
BTRC is an ERC20 shit token, which prices BitTrain’s admins subsequent to nothing to generate on demand.
BTRC is bought to gullible associates for bitcoin, which is pocketed by the corporate.
Associates are then paid returns in BTRC.
So long as BitTrain is prepared to make use of invested funds to honor withdrawals, BitTrain associates can money out.
As soon as recruitment dies or BitTrain’s admins determine to exit-scam, withdrawals will not be honored.
Alternatively BitTrain’s admins will get BTRC listed on some dodgy trade.
After convincing BitTrain associates BTRC will moon, the admins will money out much more BTRC throughout the preliminary itemizing pump hype.
As soon as that’s over BTRC will dump in direction of $0, leaving associates bag-holding nugatory BTRC they will’t promote.
In both state of affairs BitTrain inevitably collapses.
The mathematics behind MLM Ponzi schemes like BitTrain ensures that after they collapse, the vast majority of associates lose cash.