MyHash offers no data on its web site about who owns or runs the corporate.
I did come throughout this MyHash advertising slide:
Bother is that, no less than so far as I can inform, none of these folks really exist.
MyHash operates from two domains; “myhashworld.com” and “myhashtoken.io”.
MyHash’s .COM area was registered on September fifteenth, 2020. The .IO area was registered on August twenty sixth, 2020.
Regardless of not present till just a few months in the past, MyHash falsely claims it
obtained a banking license from the Swiss Monetary Market Supervisory Authority, know as FINMA, in August 2019.
One precise particular person we are able to peg to MyHash is serial scammer Phillip Han:
Han began off his MLM profession as a Jeunesse distributor. He popped up on BehindMLM’s radar in December 2018, because the face of the FX Buying and selling Corp Ponzi scheme.
When FX Buying and selling Corp collapsed, Han was the face of the F2 Buying and selling Corp reboot.
F2 Buying and selling Corp started to break down in December 2019. After the rip-off went underneath, Han lay low till promotion of MyHash started just a few months in the past.
In FX Buying and selling Corp, F2 Buying and selling Corp and MyHash, Han’s M.O. has been to current himself as “International Grasp Distributor”.
Seeing because the homeowners of the schemes are by no means publicly recognized, there’s an excellent probability Han, both individually or with others, runs the scams he fronts.
On the time of publication Alexa estimates nearly all of guests to MyHash’s .IO area are from Vietnam.
Phillip Han operates out of Brazil. MyHash’s advertising materials is in Portuguese. MyHash’s .COM area can also be hosted on a Brazilian name-server.
As at all times, if an MLM firm will not be brazenly upfront about who’s working or owns it, suppose lengthy and onerous about becoming a member of and/or handing over any cash.
MyHash’s Merchandise
MyHash has no retailable services or products, with associates solely capable of market MyHash affiliate membership itself.
MyHash’s Compensation Plan
MyHash associates make investments $100 to $50,000 in bitcoin on the promise of an marketed 300% ROI.
There doesn’t seem like any set timeline, with MyHash solely promising returns of as much as 30% a month.
After 300% is reached, MyHash associates should reinvest with a view to proceed incomes.
MyHash fees withdrawal charges on a sliding scale, relying on how ceaselessly associates need to withdraw:
- withdraw day by day = 8% charge
- withdraw weekly = 5% charge
- withdraw fortnightly = 3% charge
- withdraw month-to-month = 1% charge
MyHash Affiliate Ranks
There are eleven affiliate ranks inside MyHash’s compensation plan.
Together with their respective qualification standards, they’re as follows:
- Gold – generate $2000 in weaker binary crew facet funding
- Pearl – generate $5000 in weaker binary crew facet funding
- Sapphire – generate $10,000 in weaker binary crew facet funding
- Ruby – generate $50,000 in weaker binary crew facet funding
- Emerald – generate $100,000 in weaker binary crew facet funding
- Government Diamond – generate $250,000 in weaker binary crew facet funding
- Government Double Diamond – generate $500,000 in weaker binary crew facet funding
- Supervisor Diamond – generate $1,000,000 in weaker binary crew facet funding and have one Government Diamond on either side of the binary crew
- Supervisor Double Diamond – generate $2,000,000 in weaker binary crew facet quantity and have one Government Double Diamond on either side of the binary crew
- Crown Diamond – generate $5,000,000 in weaker binary crew facet quantity and have 1 Supervisor Diamond on either side of the binary crew
- Royal Diamond – generate $10,000,000 in weaker binary crew facet quantity and have 1 Supervisor Diamond on either side of the binary crew
Referral Commissions
MyHash pays referral commissions by way of a unilevel compensation construction.
A unilevel compensation construction locations an affiliate on the high of a unilevel crew, with each personally recruited affiliate positioned instantly underneath them (stage 1):
If any stage 1 associates recruit new associates, they’re positioned on stage 2 of the unique affiliate’s unilevel crew.
If any stage 2 associates recruit new associates, they’re positioned on stage 3 and so forth and so forth down a theoretical infinite variety of ranges.
MyHash caps payable unilevel crew ranges at 5.
Referral commissions are paid out as a proportion of funds invested throughout these 5 ranges as follows:
- stage 1 (personally recruited associates) – 5%
- ranges 2 to five – 1%
Residual Commissions
MyHash pays residual commissions by way of a binary compensation construction.
A binary compensation construction locations an affiliate on the high of a binary crew, cut up into two sides (left and proper):
The primary stage of the binary crew homes two positions. The second stage 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 stage housing twice as many positions because the earlier stage.
Positions within the binary crew are stuffed by way of direct and oblique recruitment of associates. Observe there isn’t a restrict to how deep a binary crew can develop.+
On the finish of every day MyHash tallies up new funding quantity on either side of the binary crew.
Associates are paid 8% of funds invested on their weaker binary crew facet.
As soon as paid out on, funds are matched towards the stronger binary crew facet and flushed.
Any leftover quantity on the stronger binary crew facet carries over.
To qualify for residual commissions a MyHash affiliate should recruit two associates who every make investments $100 in bitcoin every (one positioned on both facet of the binary crew).
Rank Achievement Bonuses
Ranging from Government Diamond, MyHash rewards associates with the next Rank Achievement Bonuses:
- qualify at Government Diamond and obtain a “Rolex in bitcoin”
- qualify at Government Double Diamond and obtain a Mercedes-Benz E-Class “in bitcoin”
- qualify at Supervisor Diamond and obtain a “Porsche in bitcoin”
- qualify at Supervisor Double Diamond and obtain a “Ferrari in bitcoin”
- qualify at Crown Diamond and obtain a “yacht in bitcoin”
- qualify at Royal DIamond and obtain “yacht +1M in bitcoin”
Whether or not “in bitcoin” means the precise rewards or their worth in BTC will not be clarified.
Becoming a member of MyHash
MyHash affiliate membership is free.
Full participation within the hooked up revenue alternative nonetheless requires an preliminary $100 to $50,000 funding in bitcoin.
Ongoing funding is required to proceed incomes as soon as a 300% ROI has been reached.
Conclusion
MyHash represents it will generate exterior income by way of some malarkey about secret Swiss banks.
Conventional bankers are betting closely on the challenge that can have a world attain, with the limitation of 1,000,000 “myhashtoken”, a number of Swiss non-public banks will begin to implement the brand new tokenization perform.
Even when that have been to occur (it received’t), it doesn’t clarify how MyHash are at present producing returns of as much as 30% a month.
The one verifiable income getting into MyHash is new funding.
Utilizing new funding to pay a month-to-month return of as much as 30% makes MyHash a Ponzi scheme.
To fend off collapse, MyHash intends to exit-scam by MyHash Token.
The launch of the myhash token will happen on the planet’s largest brokers, the place all cryptocurrency merchants may have the privilege of shopping for and promoting, with an estimated worth of $1000 by mid-2021.
Specifics of MyHash Token haven’t been supplied, however we do know the corporate has already generated them out of skinny air.
Is it essential to function in mining?
No, the cash are already mined.
The shitcoin exit-scam mannequin will see MyHash pay bitcoin till recruitment dries up, or Phillip Han desires to do a runner.
At that time returns will change from BTC to nugatory MyHash tokens.
MyHash token will ultimately be listed on some dodgy exchanges, after which it’s the standard pump and dump shitcoin story.
- The vast majority of traders in Ponzi schemes lose cash.
- When MyHash collapses, stated traders will probably be left bagholding nugatory MyHash tokens.
Widespread losses have performed out twice now in Phillip Han’s earlier Ponzi schemes. Cease falling for it.