MMM Global Can No Longer Sustain ‘Republic of Bitcoin’ Scheme
News leaked yesterday that one of the world’s largest multi-level marketing schemes is shutting down. MMM Global, often associated with Bitcoin, can no longer pay their previously promised 100% bonus per month. Multi-level marketing programs tend to take a turn for the worse when companies involve financial tools. In the case of MMM Global, there has....
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MMM Republic of Bitcoin scheme shuts down, investors uncertain about the future of their investments in the scheme. What is that one thing which always holds true for Ponzi schemes? They all have to close down, and at least some of the investors have to lose money. Now the same seems to be happening with the alleged Ponzi scheme – MMM. As it turned out, the Sergey Mavrodi‘s brainchild yesterday announced that it is going to close its doors. According to reports, the announcement is followed by something even more serious which the investors aren’t liking one bit. Their investments in the....
MMM Global has announced that it is closing its Republic of Bitcoin, a website promising up to 100% returns on donations. The company, called a “Ponzi” scheme by many, stated in a blog that the Republic of Bitcoin was an experiment that has failed. The post said the Republic of Bitcoin is closing because it could not pay 100% per month. MMM required participants to donate funds to acquire “Mavro,” which appear to be a point system. The site indicated a yield of 100% month was possible. Participants’ “RB-Mavro” have transferred to MMM-structures in participants’ countries, the post said. In....
MMM Nigeria has announced that it will introduce bitcoin as a form of payment when it reopens customers’ accounts on January 14. In December, participants in the MMM Ponzi scheme were informed that all confirmed subscriber accounts would be frozen for a month. It was reported that this was to help prevent any problems over the festive period. Earlier last year, MMM Global announced that it was closing its Republic of Bitcoin, a website that had promised up to 100 percent returns on donations; however, in a blog it stated that the Republic of Bitcoin was an experiment that had failed. In a....
MMM Global was a very risky investment from the start, and some of its users will try to convince other people to invest by showing the money they have received so far. Now that the Bitcoin experiment held by the MMM Global company is coming to an end, there is a massive outpouring of user opinions on how this platform operated. As was to be expected, some people are happy with their experience, whereas others have lost a lot of funds. Especially in South Africa, there seem to be very mixed feelings. In this day and age of social media and global communication, making one’s voice be heard....
The Central African Republic (CAR) has mentioned plans of setting up a crypto hub recently. This news comes after Central African Republic legally recognized Bitcoin last month. This move of launching a “crypto hub” is in a view to attract global enthusiasts. After a lot of compliments and supposed criticisms, the local government is all […]