Master Coin Plus Ponzi Scheme
Master Coin Plus is undoubtedly a ponzi scheme and should be avoided. The company claims their MCP token is an ERC20 token that uses a proof of stake algorithm that has daily airdrops based on the amount of tokens one is holding.
The MCP token was created solely as a way to receive a ROI (return of investments). The company is not planning on building their own blockchain network and doesn't have any products in the work. The only reason one would invest in MCP would be to 'earn' from signing up new affiliates/investors.
Users of the Master Coin Plus platform are to enroll an MCP+ account, connect their Bitcoin wallet, and deposit an amount they'd like to stake for different earning potential.
Users were offered different MCP package tiers where the initial investments ranged from .03125-8 BTC. The more BTC invested means a higher percentage return off referral's staking investments.
That's right. The money earned from holding MCP would be derived from new investors. The company also uses a binary compensation structure where an affiliate is at the top of a binary team, and all their affiliate sign ups are under them. As more affiliates are added to binary team and more investments are added to the total team fund, the more lucrative returns are for the affiliates higher up on the food chain. Benefits and profits will keep trickling down as more and more affiliates add their investments until the structure resembles your typical MLM, pyramid scheme and those late to the party are left with nothing.
Image from PHDcomics.com
To top it all off, users are not able to sign up to the platform themselves. They must sign up through a referral code, ensuring their lower-level position as an affiliate under an earlier investor.
Master Coin Plus offers no other product or service besides allowing users to invest and earn off newer investors, so they claim. You can only assume that a company that is offering a shady product will most likely scam you with out delivering said shady product. Investing your bitcoin for MCP tokens sounds like easy, free money but will most likely result in your bitcoin being stolen.
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