MineBase is the newest brainchild from Harald Seiz.
Seiz, a German nationwide, is finest identified within the MLM business for ripping off a ton of individuals via Karatbars Worldwide.
Karatbars Worldwide started in 2011 as a gold-themed pyramid scheme.
Circa 2017-2018, Seiz partnered up Gold Customary Financial institution and proprietor Josip Heit.
This partnership noticed Karatbars transition into cryptocurrency fraud.
Karatbars Worldwide’s first documented occasion of crypto fraud was the KaratBank ICO in early 2018.
KaratBank flopped however finally Seiz and Heit acquired KaratGold Coin (KBC) off the bottom.
After months of hyping Karatbars Worldwide buyers on the promise 100 KBC could be redeemable for 1 gram of gold, KBC publicly launched on July 4th.
KBC’s launch was a catastrophe. Seiz’s 1 gram of gold promise wasn’t honored and KBC dumped 62% in a couple of days.
Josip Heit left Karatbars Worldwide by the top of the yr and went off to launch his personal GSPartners clone.
KBC collapsed and was finally changed by V999 token. Heit’s subsequent try at rebooting Karatbars Worldwide was Freebay in mid 2020.
By the top of 2020 Freebay had collapsed, prompting Seiz to have a very public meltdown.
What adopted was six months of radio silence. Seiz finally resurfaced with Lifebase in June 2021.
Lifebase collapsed after a couple of months. In December 2021 Seiz despatched out an e-mail to his victims, promising a correct Karatbars Worldwide reboot.
That by no means occurred.
As a substitute in April 2022, Karatbars Worldwide victims had been contacted by Acua Wellington.
The specifics of Acua Wallington stay murky. BehindMLM wrote it off as an apparent restoration rip-off, possible in a position to goal Karatbars victims as a result of Seiz offered the affiliate database.
Lastly in August 2022 MineBase emerged.
The unique launch was so comically unhealthy that I believed I used to be taking a look at one other restoration rip-off.
Whereas Seiz seems to be answerable for MineBase, the preliminary restoration rip-off nature of the its launch suggests he’s working with Russian scammers.
MineBase operates from two identified web site domains:
- “minebase.io” (major) – privately registered on Might 1st, 2022
- “minebase.com” – first registered in 2014, personal registration final up to date April twenty eighth, 2023
Quick ahead to mid 2023 and MineBase continues to be chugging alongside. The MLM facet of the enterprise is extra fleshed out, prompting requests for an official BehindMLM assessment.
It ought to be famous that within the lead as much as MineBase, Harald Seiz’s numerous schemes have attracted the next regulatory consideration:
Seiz, initially from Germany, fled the nation for Thailand in some unspecified time in the future. This turned identified following a German courtroom issuing a warrant for Seiz’s arrest a couple of months in the past.
There haven’t been any additional updates so presumably Seiz continues to be wished by German authorities.
BehindMLM can’t affirm Seiz’s present standing as happening the run coincided along with his abandoning of social media (FaceBook in 2021 and Instagram final yr).
Learn on for a full assessment of MineBase’s MLM alternative.
MineBase’s Merchandise
MineBase’s advertising particulars a number of product classes:
None of those have something to do with MineBase’s MLM alternative.
MineBase Compensation Plan
MineBase associates make investments tether (USDT) into MBASE tokens. That is executed on the promise of a 500% ROI paid after 18 months.
- 1 Star Package deal – make investments 100 USDT, obtain 250 MBASE tokens and obtain 500 USDT after 18 months
- 2 Star Package deal – make investments 500 USDT, obtain 1250 MBASE tokens and obtain 2500 USDT after 18 months
- 3 Star Package deal – make investments 1000 USDT, obtain 2500 MBASE tokens and gather 5000 USDT after 18 months
- 4 Star Package deal – make investments 3000 USDT, obtain 7500 MBASE tokens and gather 1500 USDT after 18 months
- 5 Star Package deal – make investments 5000 USDT, obtain 12,500 MBASE tokens and gather 25,000 USDT after 18 months
The MLM facet of MineBase pays on recruitment of affiliate buyers.
MineBase Affiliate Ranks
There are 5 affiliate ranks inside MineBase’s compensation plan.
Together with their respective qualification standards, they’re as follows:
- Diamond – “you want factors to get a fee” (???)
- Black Pearl – recruit ten associates who collectively have invested in at the least 10,000 MBASE tokens
- Era – recruit at the least twenty associates
- Royal Crown – generate a downline who collectively have invested in at the least 10 million MBASE tokens
- Royal Crown President – “you could attain the very best stage in every enterprise middle” (be aware this doesn’t make any sense)
Referral Commissions
MineBase associates earn 10% of funds invested into MBASE tokens by personally recruited associates.
Residual Commissions
MineBase pays residual commissions by way of a unilevel compensation construction.
A unilevel compensation construction locations an affiliate on the high of a unilevel staff, with each personally recruited affiliate positioned straight below them (stage 1):
If any stage 1 associates recruit new associates, they’re positioned on stage 2 of the unique affiliate’s unilevel staff.
If any stage 2 associates recruit new associates, they’re positioned on stage 3 and so forth and so forth down a theoretical infinite variety of ranges.
To qualify for residual commissions, a MineBase affiliate should recruit at the least two associates who’ve invested in MBASE tokens.
Residual commissions are paid as a share of whole downline MBASE token funding every week.
- have twenty associates in your downline and obtain a 1.8% residual fee charge
- generate gathered downline funding of at the least 10 million MBASE tokens and obtain a further 2% residual fee charge
Be aware that as much as 70% of required downline associates could be counted from anybody recruitment leg.
Diamond Commissions
MineBase pays a tiered fee primarily based on downline MBASE token funding exercise.
Base Diamond Commissions are calculated weekly, primarily based on the next standards:
- Diamond (generate downline funding of at the least 500 MBASE tokens) – 2% Diamond Fee charge
- Double Diamond (generate downline funding of at the least 12,000 MBASE tokens) – 2.2% Diamond Fee charge
- Triple Diamond (generate downline funding of at the least 150,000 MBASE tokens) – 2.4% Diamond Fee charge
Be aware that solely as much as 70% of MBASE token funding could be counted from anybody recruitment leg.
Diamond Commissions qualification standards are calculated weekly. I imagine percentages paid out are on the qualifying quantity generated every week.
Further Diamond Fee charges could be earned primarily based on the next qualification standards:
- Diamond associates obtain a further 2% if they’ve recruited ten associates who’ve every invested in at the least 8000 MBASE tokens
- Double Diamond associates obtain a further 2% if they’ve recruited 5 associates who’ve every invested in at the least 90,000 MBASE tokens
- Triple Diamond associates obtain a further 2% if they’ve recruited three associates who’ve every invested in at the least 1,500,000 MBASE tokens
- a further 3% Diamond Fee is paid as soon as a MineBase affiliate generates an gathered 5 million MBASE token downline funding
Royal Crown President Bonus
If a MineBase associates earns in all the commissions and bonuses detailed above, they qualify for a share in 1% of MineBase’s company-wide funding.
Becoming a member of MineBase
MineBase affiliate membership is tied to tether funding in MBASE tokens:
- 1 Star Package deal – 100 USDT
- 2 Star Package deal – 500 USDT
- 3 Star Package deal – 1000 USDT
- 4 Star Package deal – 3000 USDT
- 5 Star Package deal – 5000 USDT
MineBase Conclusion
MineBase as an MLM alternative is a really complicated mess. And that’s earlier than we get into the connected 500% ROI Ponzi scheme.
I’ve executed my finest to current as correct a breakdown of MineBase’s compensation plan as I can above. MineBase’s compensation plan didn’t go the headache check, and I’m nonetheless undecided it’s 100% correct.
MineBase exit of their solution to complicate commissions and bonuses. This begins by referring to particular person commissions and bonuses as “enterprise facilities”.
Historically in MLM a “enterprise middle” is an earnings place. That’s not the case in MineBase.
Then there’s the seemingly pointless tiers in every fee and bonus.
I assume the thought is that the fee and bonus percentages are paid company-wide, however then that is unnecessary as a result of commissions and bonuses are tied to a person affiliate’s downline. So what objective do the tiers have?
Usually in MLM we see tiers for bonuses. These could be ranks or no matter, the purpose is a share is stored apart and everybody who qualifies for that tier receives a share.
MineBase seem to use this to their total compensation plan. What this creates truthfully isn’t value bothering with. And good luck making an attempt to clarify this nonsense to anybody.
I wish to clarify that this isn’t somebody complaining a few lack of familiarity. I’ve no drawback with MLM corporations making an attempt new issues or placing their twist on conventional compensation buildings.
However that’s not what’s occurring right here.
I misplaced depend what number of occasions I caught myself pondering “why?”, or “that doesn’t even make sense” whereas making an attempt to dissect MineBase’s compensation documentation. It’s that unhealthy.
After which we now have MineBase’s 500% ROI Ponzi scheme. Associates make investments tether, obtain MBASE and gather a 500% ROI on MBASE after 18 months. They then hope to money out that MBASE for tether.
Though staking isn’t talked about, I imagine that’s the Ponzi mannequin MBASE is utilizing.
It’s fairly much like what Seiz’s former associate in crime is doing along with his Swiss Valorem Financial institution Ponzi scheme (previously GSPartners).
Identical 18 month maturity interval, however Heit is simply providing 300% over Seiz’s 500%.
Anyway, finer factors apart, right here’s how MBASE goes since launch:
(CMC)
MineBase associates would possibly get 500% in nugatory MBASE tokens after 18 months, however they’re certain as hell not getting 500% on the tether they invested.
MBASE is already down 70% because it launched in late 2022. 18 months? MBASE will in all probability be properly into ‘fractions of a cent” territory by then.
To summarize, MineBase is one other crypto Ponzi scheme from a serial creator of MLM Ponzi and pyramid schemes.
Whereas Seiz is needed by German courts, sadly it’s not due to his MLM pyramid and Ponzi scamming. German authorities have been fully asleep on the wheel with regards to MLM crypto associated securities fraud.
And because of that, Seiz continues to fleece new victims – with little question a wholesome dose of Karatbars victims hoping to recoup present losses tossed into the combo.
SimilarWeb tracked just below 800,000 visits to MineBase’s .IO web site in Might 2023. Nearly all of that site visitors originated from Venezuela (17%), the US (16%), Germany (10%), Switzerland (10%) and Ukraine (8%).
MineBase isn’t registered to supply securities in any of those jurisdictions. MLM corporations commit securities fraud as a result of they’re operating Ponzi schemes.
As with all MLM Ponzi schemes, as soon as affiliate recruitment dries up so too will new funding.
It will starve MineBase of ROI income, finally prompting a collapse.
The maths behind Ponzi schemes ensures that after they collapse, nearly all of contributors lose cash.
