Bitcoiners Hub is a cash gifting scheme that combines peer-to-peer payments in Bitcoin cryptocurrency (BTC) with a pyramid recruitment scheme to drive affiliate sign ups.
What Is Bitcoiners Hub?
There is absolutely zero information on the Bitcioners Hub website that provides information on who is running the company. This is typical of cash or Bitcoin gifting schemes, as these programs tend to collapse under their own weight and leave many would-be investors out of pocket.
The site's registration also provides no clues as to who runs Bitcoiners Hub. Registration info only reveals its registration date – August 11, 2017 – with the rest hidden by a private domain name registration service.
Bitcoiners Hub Product
There's no real product or service that Bitcoiners Hub sells to its members. The only activity is to participate in a 5-tier 3×1 Bitcoin gifting matrix cycler.
The Bitcoiners Hub is relatively simple – buying into the program costs 0.01 BTC and places you at the head of a new matrix. Filling your matrix requires recruiting 3 affiliates of your own, each of whom pay you 0.01 BTC in turn.
Completing this matrix then “cycles” you to a new matrix to fill. The buy-in costs (and payouts) become progressively larger:
- Tier 2 – receive 0.01 BTC, cycle into Tier 3
- Tier 3 – receive 0.02 BTC, cycle into Tier 4
- Tier 4 – receive 0.04 BTC, cycle into Tier 5
- Tier 5 – receive 0.24 BTC
Cycling out of Tier 1 also places the member into a second matrix alongside the 5-tier cycle. This is a 3×10 matrix, which pays out a 0.001 BTC commission for every position filled. This second matrix is powered by affiliate recruitment, encouraging individuals to bring as many people into the Bitcoiners Hub ecosystem as possible for a cut of the profit.
Bitcoiners Hub Opportunity
The opportunity presented by Bitcoiners Hub is the same as any other cash gifting scheme – earning large amounts of money by starting off small with a payment to enter the program and recruiting others to pay you in turn. The addition of a 3×10 affiliate recruitment scheme simply adds another layer to the process.
Bitcoiners Hub Verdict
Gifting schemes, whether or not they come with an affiliate recruitment scheme next to them, are often seen as a great way to make a lot of money by just spending a little. However, we've explained in the past that they're never a good idea, as they only work in your favor if you have a never-ending supply of recruits willing to enter the system.
Once individuals realize the sheer number of recruits they'll need under them to progress to the very bottom tier of a matrix cycler, it usually becomes apparent that there's no way they'll ever reach that goal. You might be able to make a little bit of money in the early stages, but the only people guaranteed to rake it in are those at the very top – the anonymous admins of the system.
These nameless individuals pre-load themselves into sponsor positions and never have to make cash gifts themselves. They continue encouraging others to use the system until it collapses under its own weight, walking away with all the cash and leaving you with nothing to show for it.