BlockChain Rays is yet another cash gifting scheme based heavily on the long-defunct MMM Global investment scam. This time around, members join BlockChain Rays by paying in with the Bitcoin cryptocurrency (BTC) in exchange for a 30% ROI every 5 days.
As always, there is a strong emphasis on affiliate recruitment in order to provide the funds needed by BlockChain Rays to actually pay out on these 5-day 30% ROI promises.
What Is BlockChain Rays?
No one knows who runs BlockChain Rays. The website has no information on the company's owners or site admins, and the website registration information simply reveals the site was registered in the final days of 2016; the registrant's name and contact information are behind a privacy filter.
The phone number listed on the website does lead to someone who claims to be the admin of the BlockChain Rays website. Web searches link the phone number to a Patrick Atkinson. The number uses an international prefix, placing the recipient outside the United States.
Patrick Atkinson has a YouTube page, which features a single promotional video for BlockChain Rays.
Atkinson also has an Instagram account that features slews of BlockChain Rays advertising, plus a handful of personal pictures revealing Atkinson to be a white, late-middle-aged male.
His Facebook page features the same content, and lacks any way to know where Atkinson is located..
BlockChain Rays Product
BlockChain Rays really doesn't sell anything. Yes, it offers a 30% ROI on at least $5 worth of deposited BTC every 5 days, but that's supposedly an investment opportunity.
The only other thing BlockChain Rays offers is revenue from affiliate recruitment as well.
BlockChain Rays Opportunity
BlockChain Rays offers the opportunity to earn referral commissions on funds invested by downline affiliates. The company uses a unilevel compensation structure to keep track of these recruited affiliates.
There are ten levels to this compensation, with affiliates earning 10% commissions from their directly recruited affiliates. Levels 2 through 6 feature declining rates, from 5% to 1%, and then levels 7 through 10 offer 0.5% commission rates.
BlockChain Rays Verdict
BlockChain Rays is a lovely little ball of scams, combining an investment scheme with a cash gifting program and topped off with a big helping of affiliate recruitment.
It's a combination that only works briefly, and in the favor of just one person, whoever's at the top of the pyramid. In this case, it's this Patrick Atkinson character.
Let's be honest here: where is Atkinson getting the money to pay out this 30% ROI on invested funds? The only thing that BlockChain Rays does is collect money from investors.
There's no proceeds from sales of products or services, not even a cursory mention of investing funds on cryptocurrency exchanges – money just goes in, sits for 5 days, and comes back out 30% larger.
Well, that extra 30% comes from the funds invested by new affiliates – or at least a portion of those funds.
The rest gets split between the new affiliate's sponsor and the company itself; BlockChain Rays banks the extra and just keeps collecting as much as possible before that inevitable day that recruitment dries up and one of its older members wants to pull out its recently-matured investments.
Here's what happens on that day. Patrick Atkinson, or whoever is truly in charge of the program, says, “Whoops, there's not enough money to pay out. Guess it's time to pack everything up and abscond with every last Bitcoin that BlockChain Rays investors have been feeding into the system. Good luck getting your money back from me, suckers!”
This is almost assuredly going to occur with BlockChain Rays sooner or later. Probably sooner, as that 5-day 30% ROI needs very strong affiliate enrollment to support it.
Since most cash gifting MMM Global-style affiliate scams ensure that the top affiliate spots are all filled by accomplices beforehand, the majority of the money will end up funneled into a bank account in some overseas tax shelter.
Do yourself a favor and avoid BlockChain Rays like the plague – it's nothing but a scam.