BitSolid provide no information on their website about who owns or runs the business.
The BitSolid website domain (“bitsolid.io”) was privately registered on September 5th, 2017.
As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money.
BitSolid has no retailable products or services, with affiliates only able to market BitSolid affiliate membership itself.
The BitSolid Compensation Plan
BitSolid affiliates invest 0.003 BTC or more of bitcoin on the promise of a daily ROI for 90 days.
Referral commissions on invested funds are paid out down three levels of recruitment (unilevel):
- level 1 (personally recruited affiliates) – 10%
- level 2 – 3%
- level 3 – 2%
A BitSolid affiliate can increase referral commission by qualifying as a Partner.
BitSolid Partner affiliates earn:
- 15% on level 1
- 5% on level 2 and
- 3% on level 3
Partner qualification criteria is not provided, however marketing copy on the BitSolid website suggests it’s tied to convincing others to invest.
To get the higher commission, you need to have the ability to promote and generate clients to our fund in your region through various means.
There’s also private “high-volume partner” rates, which a BitSolid affiliate can apply for if they convince others to invest $100,000 or more.
BitSolid affiliate membership is free, however free affiliates can only earn referral commissions.
Full participation in the BitSolid MLM opportunity requires a minimum 0.003 BTC investment plus 4% admin fee.
BitSolid claim to generate ROI revenue through a
quantitative trading hedge fund that actively invest through algorithmic based trading aided by artificial intelligence within the cryptocurrency market.
BitSolid Capital manages a hedge fund committed to exceptional returns for investors through an actively managed portfolio and algorithmic trading.
Not sure where they copy and pasted that from but there’s no evidence of any such AI trading or managed portfolio fund existing.
Instead BitSolid claim their fund is domiciled in the Cayman Islands (a known tax-haven) and last year generated a ROI upwards of 800%.
BitSolid also claims its fund is ‘fully developed and has been active since 2013‘.
For what should be obvious reasons, these claims absolutely fail the Ponzi logic test.
For starters BitSolid didn’t exist until September, 2017.
Second of all if BitSolid’s anonymous owners are already able to legitimately generate an annual ROI of over 800%, why are they soliciting investment from randoms over the internet?
Sounds like “the system” is already up and running. Surely there’s nothing left to do but sit back and enjoy 800% a year?
The reason BitSolid are soliciting investment from randoms over the internet is because new affiliate investment is the only source of revenue entering the company.
Using newly invested funds to pay off existing investors makes BitSolid a Ponzi scheme.
As with all Ponzi schemes, once affiliate recruitment dies down so too will new funds entering the scheme. This will starve BitSolid of ROI revenue, eventually prompting a collapse.
The math behind Ponzi schemes guarantees that when they collapse the majority of investors lose money