We have reported several times in the past weeks that crypto-mining is currently not profitable due to the low crypto-prices and the still rather high difficulty. Crypto-mining has produced losses for the so-called for “normal” miners and even more, for MLM schemes focused on crypt-mining. They need to pay high commissions to their respective distribution networks. We have predicted that the not yet collapsed crypto-MLMs like OMNIA TECH and NEXUS GLOBAL will get into trouble.
In fact, Robert VELGHE‘s OMNIA TECH (www.omniatek.com) just recently announced Telegram that it has temporarily suspended its crypto mining activities due to the low BTC prices. OMNIA TECH bills itself as the
“World’s Most Intelligent Cryptocurrency Mining Platform”.
Well, it doesn’t seem so intelligent right now, does it? I was only in October when the Austrian MLM veteran Robert VELGHE and his team announced the opening of a new mining farm which was labeled as the “world’s largest” located in Armenian. The Armenian Prime Minister and other top officials reportedly attended the opening ceremony. Now, just a few weeks later things have changed dramatically.
In the same email, OMNIA TECH members are made aware of the attractiveness of crypto-trading with OMNIA TECH’s super trading algorithms. Yes, it is true in principle that the volatility of markets is generally good for professional traders, but whether this will compensate for investors’ losses from crypto-mining can be doubted.
From our point of view, it is only a matter of time until the German crypto-MLM NEXUS GLOBAL announces the cessation of mining and also promotes the super cool crypto-trading (or FOREX-trading).
The advantage of crypto trading for the MLM artists is that it does not require expensive hardware or electricity. Moreover, nobody can actually check if and how well the respective trading algorithms work. Finally, with their many thousands of members, MLM schemes have to power to manipulate cryptocurrency markets as we have seen in the case of NASDACOIN. However, it does not require any special thinking to state that trading is only the last station before the collapse of these HYIP or pyramid systems.
Some of NEXUS GLOBAL’s major distributors have already jumped ship and left the system with their respective Facebook groups.
