BTC Mining Factory is a branch of Dragon Mining Tech. On the other hand, Dragon Mining Tech is associated with the one Bitcoiin program that we have reviewed here before. Bitcoiin is a pump and dump scam. After claiming to have raised $75 million dollars out of their ICO which involved selling B2G tokens, the program got abandoned by its owner although the website is still active and seemingly accepting payments. Also, its owner was anonymous and is still anonymous.
On the other hand, it seems Dragon Mining Tech is what’s left. They are in charge of a number of spin-off companies such as BTC Mining Factory which are trying to scam investors of their hard earned money. It appears they won’t give up.
Dragon Mining Tech appears to be associated with the country China. But just like the scam Bitcoiin, no one knows who owns or runs the operations as these two websites have decided to make it their top secret.
So, the question is, can you make any money with BTC Mining Factory? The answer is No, you cannot. By the way, any company that claims to mine BTC yet its owner is anonymous should be treated like a fraud. You should think long and hard before joining or giving such a company your money.
The first thing we notice here is that BTC Mining Factory has no real product or service to offer. That is why we highly suspect that it is just another manifestation of a ponzi scheme in the name of Bitcoin mining. The only activity that is going on here has to be their affiliate membership plan. That is what investors are required to promote.
When investors put their money here, they are promised a monthly return of between 30-40%. There are 3 plans here which cost $500, $5000 and $15000 to join. This website is claiming that they will pay both monthly returns and referral commissions in B2G coins. The affiliate structure is based on a uni-level structure where affiliates are supposed to be rewarded based on what they contribute into the ponzi scheme.
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Those who have are in the Silver plan are supposed to be be paid down two levels in the recruitment structure. Gold members are supposed to be paid down three levels. And finally VIP affiliates are supposed to be paid down 4 levels. You have to note, however, that BTC Mining Factory has not exposed the exact percentage of commission to be paid to their affiliates.
First of all, the ROIs that are promised by BTC Mining Factory are not sustainable or even achievable. 30 or 40% per month is high especially in a situation where a ponzi scheme has not proved their source of external revenue generation. People can’t earn these figures no matter what. And if it were that easy, everyone would be ”investing” with BTC Mining Factory.
The other thing is that these people are claiming to pay out their ROIs in BTC, B2G and ETH. However, when you think about it critically, you will realize that BTC Mining Factory is just soliciting real money from internet users in exchange of worthless coins called B2G. B2G is a Cryptocurrency that cannot be used outside the Dragon Mining Tech ecosystem. And that means you are paying for something that will never help you. You are not getting any value.
Dragon Mining Tech has set up an internal exchange where people pay real money to B2G investors in exchange for the worthless coins. The internal exchange is known as Thorex.
Now, the going rate for this worthless coin is set by Dragon Mining Tech and not the forces of demand and supply like in the normal Cryptocurrency. BTC Mining Factory is just one arm of Dragon Mining Tech through which they are offloading pre-generated B2G coins.
Until then, the promised returns/ROIs will be imaginary until the investor gets duped through their Thorex internal exchange. Of course the investor will have paid real money in exchange for worthless B2G points. As you know, any currency that is not controlled by the forces of demand and supply is fake money. So that is exactly what investors will be getting for a neat sum of $500 and above.
We have also studied and considered how Thorex works. After careful analysis, we have come to the conclusion that BTC Mining Factory is just part of a larger scheme of the B2G fraud.
Because there is concrete evidence that this is a ponzi scheme, we are pleading with our readers not to invest with them because if they do, the ultimate consequence is that they will lose money. It is better to mine Bitcoins and other altcoins here rather than trust that a ponzi scheme will give you some returns. As mentioned earlier, this is similar to a pump and dump scam where early investors might generate some returns by scamming those who join later on. That is never a good thing because people still lose a lot of money in the process.
Because Dragon Mining Tech has no solid business model behind their B2G coin, it will ultimately collapse in a spectacular fashion. You can rest assured that its various branches like BTC Mining Factory will be among the first to collapse.
However, for the new investor, it will take some time to realize that they have been duped. But why? Because once they buy and hold the coins and then decide to sell them later, they will realize that the coins are valueless, and hence no one wants to buy them. That is a clever way of stealing from someone, isn’t it? It is not a straight forward scam in the sense that they will just snatch money from you.
Like we said above, never participate in any ponzi scheme unless you want to lose money. You are better off mining altcoins and generating more returns out of your money. That should be quite clear.
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