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The new UBI project "Circles" is nothing more than a MLM pyramid scheme. Don't fall for this.

The new UBI project "Circles" is nothing more than a MLM pyramid scheme. Don't fall for this.

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by COINS NEWS 7 Views

There seems to be some buzz around this new UBI project called Circles. While UBI is a good concept, this one is not a true UBI and is just a Multi Level Marketing (MLM) pyramid scheme packaged as UBI to con people.

A MLM scheme is one which encourages existing users to recruit new users into the project, out of which those already in the scheme will benefit from. This is what Circles does - Each new user must be "verified" by 3 existing users. These are termed "trust connections" to give an air of legitimacy to a MLM scheme.

At first it looks innocent, but once you get "invited" the ones at the top will shill this further and make profit of you joining the network. Those who are "Verified" somehow get the belief that they are part of a special group, when its just an MLM that has been tried and tested thousand times before.

Those who want an "invite" will look up to those who are members and get them for approval, only realising after joining that there is nothing of economic value in the network.

submitted by /u/DetroitMotorShow
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