Let’s talk Bitcoin.
First, Bitcoin itself is not a scam.
What Is Bitcoin?
Bitcoin in an encrypted digital currency invented in 2009 by a group or an individual named Satoshi Nakamoto.
There will only be 21 million Bitcoin ever produced and roughly 17 million are currently in circulation. 4 million additional Bitcoin can be mined over the next 120 years.
Yes, Bitcoin is mined. It takes roughly $1,200 worth of electricity, not including the computer hardware and geeky know-how to mine a single bitcoin.
This creates some level of scarcity. While some see a Bitcoin price of $15,000 per coin, they freak out and think “the bubble is about to burst”. Now that I understand the limited number of Bitcoin that will ever be produced, I see that price as low. (Keep in mind, I am not an economist and I am not recommending anyone buy Bitcoin, I’m just a dude, but I am a dude who has a reputation for seeing stuff clearly and earlier than most, like Google Adwords and Blogging for Network Marketers).
My First Bitcoin Experience
My first experience with Bitcoin was back in 2013 when I was paid in Bitcoin for some affiliate marketing. At the time, I received 2 Bitcoin worth about $270 total ($135/each). Later that year when my 2 Bitcoin had nearly doubled to about $500, I sold them. (At the time of this writing, my 2 Bitcoin would be worth nearly $35,000).
Bitcoin MLM & Network Marketing Opportunities
I am going to assume that you don’t want to be involved with a Ponzi scheme. So let’s start there.
Keeping this simple, a Ponzi scheme is an investment opportunity that requires continuous money/investors coming in to survive.
So if a company takes your money and invests in bitcoin/cryptocurrency, that company is likely a Ponzi scheme. It gets even worse when the company pays compensation when you bring on another investor (downline).
In my opinion, cryptocurrency investing combined with Network Marketing is a recipe for getting shut down and losing your money and if for some reason, you make a lot of money in the scheme, it could be even worse for you. You would likely get named in a lawsuit and held liable for damages.
Stay tuned to MLMBlog for future Bitcoin updates, including an interview with a top MLM Attorney.
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