Is My Blockchain Life a Scam? You Bet Your Bottom Dollar It Is!

My Blockchain Life is a cryptocurrency investment MLM company but fails to provide any info on who owns or runs the company. 

Their landing page was launched sometime in 2020, and it was nothing more than a member login page with some testimonials. Obviously, these testimonials were fake. 

They don’t have any corporate address, but they claim they are operating in the USA and worldwide. Whatever that means. 

The domain name was registered on Jan 2020, but it was done privately. Their marketing video shows someone named Glen Williams as the spokesperson for My Blockchain Life. 

These marketing videos were uploaded on their Facebook page. In these videos, Williams claims that he’s the owner and CEO of My Blockchain Life. 

If you’re thinking that the name Glen Williams is familiar, well that’s because he was involved in another Ponzi scheme called Bitconnect, which shut down after a few months. 

Williams claimed that over 2 billion dollars were lost after Bitconnect shut down. 

We don’t know if the owners of Bitconnect are in cahoots with Williams on My Blockchain Life, but it would be safe to assume that they are. 

My Blockchain Life Product Line

My Blockchain Life offers no retail products or services as a MLM company. They only have the income opportunity that you can take part in. 

Does The Product Work?

My Blockchain Life claims that they’re the fastest growing and world’s first Official Blockchain Network Marketing company. 

The way their program works is that you invest in the MLM opportunity, secure the mining hardware, and then generate passive ROI daily. 

So this means that investors dump money into the mining, and earn $1000 per day. 

If they really did have some algorithm to generate that much ROI, why are they even selling it to the public? They can easily roll over any ROI and increase profits exponentially on their own. 

So right off the bat, they fail the first Ponzi logic test. 

It also doesn’t help My Blockchain Life that they’re not registered with the SEC or any financial regulatory agency to carry out investments on behalf of their clients. This means you’re committing securities fraud on top of promoting a Ponzi scheme.

On another note, Glen Williams was last seen posting memes about Covid-19 on his Facebook page and contracted the virus not long after. He succumbed to the virus last October 2020. 

We don’t know if My Blockchain Life will continue, but the reboot has another person promoting and running the company. 

My Blockchain Life only offers one way to make money and that’s through new member recruitment. 

How To Get Started with My Blockchain Life?

Membership is free, but to take part in the program, you need to purchase the hardware worth $3,000 to start mining and then roll over:

• $1250 every 500 days; or

• $2000 every 1000 days.

My Blockchain Life Compensation Plan

Their compensation plan revoles around you spending money to purchase the mining equipment then paying for the hosting worth $2000 at most. 

The investment maturity periods depend on the hosting. It will take 500 days if you paid for $1250 hosting and 1000 days for the $2000 hosting. 

Commissions are paid out using sales volume as opposed to dollars invested or spent:

1. $1250 hosting = 500 GV

2. $2000 hosting = 1000 GV

3. $3000 mining hardware purchase = 1000 GV

All bonuses and commissions are paid in Bitcoin.

My Blockchain Life Affiliate Ranks

There are 9 membership ranks in My Blockchain Life. Here’s how to qualify for them:

1. Prospector – recruit and maintain two members (placed one on both sides of the binary team), earn 500 PV and 5000 GV in accumulated weaker binary team side volume

2. Bronze – maintain two personally recruited members and 500 PV, and earn 12,5000 GV in accumulated weaker binary team side volume

3. Silver – maintain two personally recruited members, earn 1000 PV and 25,000 GV in accumulated weaker binary team side volume

4. Gold  – recruit and maintain four members (placed two on both sides of the binary team), earn 1000 PV and 100,000 GV in accumulated weaker binary team side volume

5. Platinum – recruit and maintain six members (placed three on both sides of the binary team), maintain 1000 PV and earn 500,000 GV in accumulated weaker binary team side volume

6. Diamond – recruit and maintain eight members (placed four on both sides of the binary team), maintain 1000 PV and earn 1,000,000 GV in accumulated weaker binary team side volume

7. Vice Chairman – recruit and maintain ten members (placed five on both sides of the binary team), maintain 1000 PV and earn 5,000,000 GV in accumulated weaker binary team side volume

8. Chairman – recruit and maintain twelve members (placed six on both sides of the binary team), maintain 1000 PV and earn 10,000,000 GV in accumulated weaker binary team side volume

9. Global Chairman – maintain twelve personally recruited members and 1000 PV, and earn 25,000,000 GV in accumulated weaker binary team side volume

PV stands for “Personal Volume” and is sales volume earnd by personal purchases and that of personally recruited members.

GV stands for “Group Volume” and is PV earnd by an affiliate and their downline.

Note that in order to count towards qualification, recruited members must have either purchased at least one miner and hosting plan.

MLM Commission Qualification

You need to be ranked Prospector or higher to enjoy the commissions listed below.

Referral Commissions

Referral commissions are paid out following a unilevel compensation structure capped at 5 levels:

1. 20% on level 1 (personally recruited members)

2. 10% on level 2

3. 2.5% on levels 3 to 5

Residual Commissions

Residual commissions follow a binary compensation structure,

At the end of the month, My Blockchain Life tallies new sales volume earned on both sides of the binary team. Members are paid out 15% of volume earned by the weaker binary team side.

#1 Rebooted

My Blockchain Life shut down and rebooted not long after, even though the owner passed away in 2020. The reboot pivoted to an automated trading bot called BlockX Echange and surfaced months after. 

It’s quite likely that the reboot is handled by someone who recently promoted My Blockchain Life, or who was one of the owners of the old company.

#2 Ponzi Scheme!

My Blockchain Life is a Ponzi scheme and there’s no denying that. You’re also committing securities fraud when you promote My Blockchain Life, so you could land some jail time if you’re convicted of promoting this company.

There’s nothing to like about My Blockchain Life. 

My Blockchain Life is a Ponzi scheme. It rebooted into an automated trading bot, but was shut down not long after. The owner has passed away to Covid-19, so we don’t know if My Blockchain Life will be rebooted into other companies in the future.

However, the new reboot was handled by a new person and we’re inclined to think that he promoted My Blockchain Life or was a co-owner of My Blockchain Life. 

I'm not a fan of MLM, not because it's illegal or not profitable, but because of all the restrictions and the expensive costs involved.

Instead, Affiliate Marketing is my top recommended business model for anyone to make money online.

The reason is simple...

• You don't have to recruit anyone to make money
• You have the freedom to promote any products you want and not being restricted to only promote the products from one MLM company
• It's Free to get started

In fact, with affiliate marketing...