QoinPro: Scam or Not?
Hello, I have just joined Steemit today, and wanted before I do anything else, to warn everyone on here about a recent pyramid scheme I came across, that can land you in deep trouble. The site is called "QoinPro" and it claims to offer free Bitcoin and alt-coin everyday, without any claiming or activity. At first glance I was already skeptical. However i decided to dig a little deeper, because there are some legitimate sites that offer passive bitcoin and alt-coin mining, usually for a price or initial investment though. After clicking around and signing up I found this:
It's their payout structure for referrals. Now, referral commissions is nothing new, most sites do it, however this site is a clear example of a pyramid scheme because of what is shown here. A Pyramid scheme is a system of "earnings" in which the people on the bottom of the pyramid (the new members) benefit the person(s) at the top. As shown above, the site offers multiple levels of referrals, for instance, if you refer a friend, and they refer another friend, you gain a percentage of the money both of them make. On QoinPro this system is 7 levels deep, with 2500 referrals total needed in order to reach that level. The only way to really make money (if you even can) on QoinPro is to refer a massive amount of people.
A pyramid scheme collapses when there either:
A. Not enough new people coming to support the top of the pyramid
B. When the number of people on top becomes too many to support by the people on the bottom.
Either way, only the people on the very top of the pyramid turn a profit. On QoinPro, as other users have stated, they will prompt you to deposit some BTC (Bitcoin) to claim the amount that is inside of your account, as soon as you do, you will never see that money, or your money inside your QoinPro account ever again.
Note 1: This is diffrent from Multi-Level Marketing, which is legitimate
Note 2: I understand this post is rather short, it is my first one, but I intend to update it if any new information surfaces.
Final Verdict:
SCAM