My crptojourney 1 (MLM)

in #cryptocurrency7 years ago

Welcome to my crypto currency journey....

I leant about crypto currency (Bitcoin) approximately a year ago when a friend introduced me to an MLM (Zarfund) and the Instruction was to buy 0.03btc and get two referrals.

Now I hate the effort put in at getting referrals so I planned to beat the system by creating multiple accounts as my referrals with four other partners. I drew the matrix, already counting my millions but I got a rude shock as I found out that upgrade I had to keep paying those already on a higher level and I would've created 512 accounts before I get paid out.

I then realized that I would have spent much more than I could ever get from the system. This was really annoying as it became obvious to me that the owners of the matrix were just ripping off inspecting thousands of people with the promise of making them rich.

I counted my Bitcoin as lost and moved on.
SAY NO TO MLMs
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Multi-level marketing, abbreviated as MLM, also called pyramid selling, network marketing, and referral marketing, is a controversial marketing strategy for the sale of products and/or services where the revenue of the MLM company is derived from a non-salaried workforce (also called participants, and variously known as "salespeople", "distributors", "consultants", "promoters", "independent business owners", etc) selling the company's products/services, while the earnings of the participants is derived from a pyramid-shaped commission system.
Ref: https://en.m.wikipedia.org/wiki/Multi-level_marketing

....now I trade alt coins

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Are you saying all MLMs are bad? Or you just drew your conclusions from just Zarfund?

Zarfund is a case study
there others i refused to join
the people that benefit most are those who started it
every other person joining after is simply msking them rich and hoping that more people come after you rich.

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Most of the mmm are good

mmm or mlm