Crypto Currency Schemes – the gold rush of online scams

 

We’ve all seen the facebook posts alerting us to various crypto currency schemes which will make our fortune if we only get in early: e-dinar coin, onecoin, s-coin, leocoin, GCCCoin… etc etc. We’ve been reminded that if we had invested $0.01 in bitcoin 7 years ago we’d be multi-millionaires now and that this scheme and this ‘coin’ can do the same for us so JOIN MY TEAM HUN! SIGN HERE!

The trouble is, they’re scams.

The crypto currency market has a few things going for it that make it the perfect subject for a scam:

  1. It’s buzzy, exciting and there are proven examples of people having made a killing previously (bitcoin)
  2. It’s pretty complicated to understand unless you are an expert with lots of crypto-trading experience. The schemes play on this (like MLM comp-plans!) by using deliberately oblique and technical terms. They’re not targeting experts who would ask tricky questions & see right through them, rather they’re aiming to befuddle the average person
  3. Crypto currency markets are not regulated – it’s like the Wild West out there
  4. There’s no physical product, so no investment required by the scheme founders in stock, warehousing, shipping etc. No, it’s just imaginary unicorn ‘coins’
IMG_5763
Yay huns! Magic Unicorn Money!

Most of the schemes have all the hallmarks of a classic ponzi pyramid: the returns & bonuses of existing scheme members are funded entirely by new members paying into the scheme – in this case ‘buying’ ‘coins’. The returns being promised are RIDICULOUSLY high – 21% growth per month for e-dinar for example. This alone should set alarm bells ringing. The crypto-trading average is about 3-5%, if you are an experienced trader who is having a great run of luck.

And then in true MLM style, you are incentivized to recruit. Gotta keep that money coming in!

To our knowledge, the e-dinar coin scam has at least one convicted fraudster behind it, and has already left a first wave of investors with coins devalued and worth around 10% of the value originally invested. E-dinar also uses paid-for advertising & fakery to make it appear that they have been positively written about in the business press (they absolutely haven’t).

So where does this all leave our enthusiastic facebook recruiters?

Well firstly, if you are recruiting into one of these schemes you are stealing. Morally it’s a simple as that. The people underneath you are paying for any money that you make.

Secondly, these e-dinar coins that you’ve been buying for $1 are worth a fraction of that on the open market. And the value has been steadily collapsing since the currency launched. Outside of the scheme, there is no way you can recoup your investment. So you need to trade within the scheme… or convince your downline to buy them off you so they take the hit. Again: if you do that, you are stealing.

Thirdly, if you do try to withdraw your unicorn coins, don’t be surprised if it’s difficult to do so. There might be a ‘problem’ with your e-wallet. A ‘security breach’ maybe. Or a ‘software update’ might take the site down if large numbers are trying to withdraw. That’s because your money isn’t there. It doesn’t exist. It’s crypto smoke & mirrors and the scheme organisers will stall and lie and stall and lie to try to postpone suspicion.

There are hints already that the e-dinar fraudsters are getting ready to cut & run: terms & conditions are being changed so that it’s almost impossible to make the promised 21% return (leave your computer running 24/7?) and team leaders desperately trying to off-load currency & cut their losses whilst ostensibly trying to maintain the appearance that EVERYTHING IS JUST FINE HUN.

And finally, because the crypto currency market isn’t FSA regulated, you won’t be getting your money back. And neither will the people you recruited.

 

 

Advertisements

The trouble with Maelle or why mlm can be worse than a j.o.b.

stay-calm
We just heard via a million huns that Maelle is to cease selling product ‘for five months’.
Why is this and who knows if it will ever come back?
The statement just issued by Younique is here:
younique
We at Timeless Vie wonder if this is a dispute about a non compete agreement.
In any business that sells a well known lucrative brand, if you are in senior management, you will be asked to sign a non compete clause, so that should you leave, you agree that you will not take any company secrets with you, don’t copy the business that you left and that you don’t use the same factories or work with the same people or set up the same kind of business – become a competitor- for an agreed period of time.
Bobbi Brown just announced she is leaving her same name company and there is speculation she will have a ‘lengthy’ non compete clause in her contract. http://www.marieclaire.com/beauty/n…
Jo Malone (fragrance guru) agreed to not start up another perfume business for five years!  http://www.ibtimes.co.uk/jo-malone-…
Tamara Mellon (Jimmy Choo) agreed to stay away from the fashion trade for only one year, but later discovered that Jimmy Choo made their factories sign contracts stating that they would never work with her. So she took them to court. http://www.telegraph.co.uk/fashion/…
Whilst in their incredibly long prelaunch period, we worked out that Maelle had trousered around half a million dollars from recruits. We called bullshit back then.
Then there was the tragic lack of product. We have been like CRINGE whilst the bots fawn over a nasty glitter make up pouch (that costs more than a River Island handbag) and a solitary blusher. The inability to create a full make up look, the ‘hero product’ that won’t come out of the faulty tube. Awful.
vibrate_higher
We are now raising a collective Instabrow at the flood of positivity memes and hashtags
But you can’t use The Secret to make a court of law to rule in your favour.
We can’t have life our own way by, ‘vibrating on a higher level’. Unicorns aren’t real, either. Sorry ’bout that.
‘’The Secret actually requires that you never doubt yourself, never consider negative repercussions, and never indulge in negative thoughts. This is the confirmation bias on steroids and it can be dangerous: taking on risky business ventures or investments, ignoring red flag behaviors from a romantic partner, denying personal problems or health issues, avoiding necessary confrontations, failing to weigh the possibility of failure in decision making, and so on. While this sort of “delusionally positive” thinking may make one feel better in some (or even many) situations, as a long-term life strategy, it is utterly disastrous. ‘’
And we don’t think that UK law on pyramid selling offers enough protection to the recruits of mlms.
The law already states that there should be no pyramid selling without product. Maelle recruited and proposed cash incentives for recruitment, for as long as eight months before the presenter kits were shipped. UK law sets a limit on initial investment (£200) and a guaranteed refund on that investment during a cooling off period. But we think there should be a time limit on ‘prelaunch’. Otherwise what is there to stop other new mlms from doing the same?
We now watch with interest to see if the recruiting continues and if this mlm survives.
Maelle Mentors, if you are reading this now we are here for  you xxx

How MLMs like Forever Living, Juice Plus, etc fleece the UK taxpayer and how we can learn from them!!!

As you know, we at Timeless Vie believe our VIEStars(TM) should do whatever they can to grow their ‘businesses’.  But even we were shocked at the balls on some of our MLM competitors.   And we’re questioning ourselves – is this where we’re going wrong? IS this why we’re not as popular as Forever Living or Juice Plus?  It never occurred to us to tell our wannabe VIESTars(TM) to use their JSA to buy our products so we make money set up their ‘business’.    So, in other words, the UK taxpayer is supporting our MLM helping our VIEStars(TM) grow and develop into amazeballs business people.  Thanks UK taxpayers!  Thanks, Cameron! Thanks for sharing!  WE LOVE SOCIALISM!

fleecinguktaxpayer
so many lovely pounds coming into Forever Living thanks to the UK government 🙂 🙂

 

fleecinguktaxpayer1
recruitingandfleecingUKtaxpayer

your JSA can pay for mascara!
your JSA can pay for mascara!

80% fake lifestyle, 20% selling …this Bot nails it

To be good at selling the MLM “opportunity” on social media a Bot has to sell the lifestyle.

smiley bot with FL bottle
remember bots, SMILE right next to your product

The amazing, amazeballs fakey-pants lifestyle an MLM provides.

They know going “BUY MY PRODUCT NOW, OOH LOOK BUY MY PRODUCT, OOH LOOK” over and over again on FB turns people off. So, instead they focus on just  how amazing their life is since they joined [Herbalife, Juice +, Forever Living, {insert name here}] in photos  with carefully placed products.

It’s so important that Bots do this that it’s even part of their training:

fake it til you make it - 80% lifestyle, 20% selling
fake it til you make it – 80% lifestyle, 20% selling

large-5150-foreverfbprofile-DETAIL

Happily it also gives us some really entertaining photos.  Like this one:

BIG GREEN ALOE SMILE mlm scam forever living
BIG GREEN ALOE SMILE

thanks Bot!!!