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Jan 9, 2017

MMM Nigeria Introduces the Use of Bitcoin as its Mode of Payment



The father of all ponzi schemes, MMM, has applied the popular phrase, 'new year, new life/resolutions' in its online business. As part of its mode of payment in 2017 and its comeback plans, the scheme has introduced the use  of Bitcoin by participants as the arena's first rate performing forex.

Against all odds and online publications that the scheme has crashed when it froze all confirmed Mavros of its three million participants on December 13, 2016, the scheme is really energizing its muscles by administering quality plans that will keep its domain hyperactive when it returns on January 14, 2017.

Just last week, MMM promoters issued instructions to participants whose account were frozen to perform 'Promo Task: A New Tool for MMM Community Development' both online and offline. The sole aim of this 'promo task' is to promote traffic on the site by the time the restriction on members' account is lifted.

I think this is a welcome development as participants will make more profit going by the exchange rate of Bitcoin. Bitcoin was one of the high quality performing foreign currencies in 2016, appreciating by more than a hundred percent(from $400/Bitcoin to $1000/Bitcoin). However, with China's strict policy to limit cash flow, it has depreciated to $887/Bitcoin. It is still not bad.

You should also note that the use of Bitcoin is not  new in MMM but very new in MMM Nigeria as naira has been the mode of payment.Interestingly, MMM participants can now Provide Help (PH) in Bitcoin and watch it grow in Bitcoin.

Read the statement of MMM to its participants:

“Due to the recent sharp price fluctuations of Bitcoin, MAVRO-BTC is being introduced in the system.

“So far, we have only had Mavro-Naira in the system. Even though you provided help via Bitcoin, your Bitcoins, anyway, were recalculated into the Naira at the exchange rate at the moment of providing help, and you were credited with Mavro-Naira in your PO.

“It was the naira amount that grew. In other words, you received 30 percent a month specifically in naira (not in Bitcoins, although you originally provided help using Bitcoins).

“Now, you have a chance to have 30 percent growth of the Bitcoin amount, not the naira amount. So, acquire MAVRO-BTC which will be credited in your PO and will grow at a 30 percent monthly growth rate.

“In a month not only 30 percent will be added to your initial amount, but, it can increase itself due to Bitcoin price growth.

“And, what if Bitcoin price is going to fall? In case Bitcoin price might go down, you will be able to return to naira at any time — instantly convert your MAVRO-BTC into Mavro-Naira (and vice versa, if Bitcoin price might increase again).

“This option is available in PO. You can convert both confirmed and unconfirmed Mavro.

“We hope that with implementing MAVRO-BTC, your participation in MMM will become more comfortable!”



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