Welcome to my review of Etherchain.io.
This is not your average ponzi scheme. In fact I find projects like this pretty interesting if I am being honest. This is a ponzi on a smart contract, which is completely different to how the average bitcoin ponzi operates.
With a regular ponzi you give your funds to somebody based on a promise that they will pay you back the advertised returns. When the CEO decides that they are starting to struggle to attract new funds, they simply stop paying out the ROI and disappear with a big bag of bitcoin. You never know when it will happen. You just know that it will happen at some point.
With Etherchain the ROI is hard coded into the smart contract. This gives investors some peace of mind. As long as the contract is checked for any sneaky back doors, investors can be certain that they will be paid the ROI straight into their metamask wallet.
Nobody can stop the ROI payments, not even the developers.
Sounds Amazing right……don’t get too excited yet.
Let’s not get too far ahead of ourselves so that we don’t overlook something very important.
As with all ponzis, the ROI is not generated from any external sources like trading. The ROI payments are just the funds from initial investors being paid back as staggered ROI payments.
Etherchain are paying back 310% at a rate of 1% per day. So at all times they are insolvent. They obviously cannot pay the 310% immediately because the whole thing would not last one day. Most people will not pull their funds out but rather re-invest. The remaining people who want to withdraw can only do so at a rate of 1% per day. So this creates the illusion of profitability, however the vast majority will never recoup their investment.
So Yes It’s A Ponzi, But Better Than Most.
I would probably invest in this but I would never promote it. It actually looks much safer than 99% of crypto ponzis out there. Anything on a smart contract is usually much safer because everything is public on the blockchain. You can see how much eth is left and safely predict when it’s time to withdraw. I do not advise you to get involved in etherchain.io. Most people will get burned #ponzifacts
Etherchain.io Review Summary
Key Figures : Andreas Kartrud
Product Type : Ethereum Dapp Crypto Ponzi MLM
Summary : Everything is on a smart contract which means that the admins cannot hold your funds. Nevertheless this is still a ponzi and will collapse when it runs out of new investors. This should pay out for well over 1 year though.
Rating: Better than most ponzis however still very sketchy.
Verdict: I would argue that you can safely make money with this for at least a year. Fortunately we can see how much Eth is in the contract at all times. I might invest personally however I would not promote this.
What Is Etherchain.io
Pretty amazing that you can launch a crypto scheme makes no attempt to pretend that it is not a ponzi scam. Etherchain does not bother to explain how the ROI is generated. Yes it’s a ponzi scheme and Etherchain is proud of it!
I really wonder if the people investing ever ask themselves how 310% returns can be paid out of thin air. It doesn’t seem to matter at all!
Even though it is a ponzi it seems to be a lot better than most. The admins are not in control, the smart contract just runs automatically. Assuming there is no sneaky back doors written in the contract, it will just keep paying until all the Etherum runs out. Currently there is over $7 Million dollars in the contract, so Etherchain.io could run safely for well over 1 year.
Personally I would never promote this because people always get in over their heads. When you get paid big returns like clock work you tend to lose your rational mind and assume it will continue forever! This is never the case.
Etherchain will pay a percentage of whatever your downline earns from the ROI payments:
- level 1 (personally recruited affiliates) – 30%
- levels 2 to 5 – 10%
- levels 6 to 9 – 8%
- level 10 – 8%
- levels 11 to 15 – 5%
5% of total funds invested is shared among the top recruiters based on sales volume.
What I Like About Etherchain.io
The good thing about Etherchain.io is that it is on a smart contract. Let me tell you why this is a good thing.
- I can view the smart contract publicly. Check it out here
- I can see how much Eth is left (easy to predict the collapse)
- Cannot be altered
This will Last 1-2 years
Based on the fact that they have plenty of Eth in the kitty (over $ 7 Million) I can see this lasting as a safe platform for well over a year. Make sure you keep an eye on the contract!
What I Dislike About Etherchain.io
If The Eth Drops It Will Create Panic Withdrawals
Usually a ponzi will attempt to tell lots of lies towards the last few months. They will say “everything is going great”. They will launch updates like crypto atm cards to convince investors that the company continues to grow.
When you are truly on the blockchain like etherchain.io…you lose the ability to tell lies.
Everybody can see exactly just how much money is left. If the contract starts to empty out, it will cause a stampede as people withdraw everything before it’s too late.
So when the contract starts to reduce in balance, it could end up collapsing at a much faster rate than usually is the case with a non-blockchain ponzi.
The Real Deal
Ethereum ponzis are MUCH better than BTC ponzis because they are on a smart contract. We can see everything. As long as you are not naive you can very safely exit this with a big profit. Most people have no idea what a smart contract is and will not even check it. Unfortunately these people will get burned just like they do with every ponzi that they invest it. Be smart and you will be fine with this.
I would never promote this on youtube, but I would definitely invest in it.