EpicSideGigs
Earn Extra Cash – Stretch What You Earn
EpicSideGigs
blog

PayDiamond Review – PayDiamond Members Shift to LifeInBlock

by |Published |7 comments

pay diamond scam

Who Owns Pay Diamond?

PayDiamond is not openly upfront about who actually owns or runs the company.  However, from the information available, here is what can be pieced together:

  1. PayDiamond provides no solid information about who actually owns or runs the business.
  2. The domain – paydiamond.com registered December 2014 and updated November 2015.
  3.  PayDiamond Marketing and Sales Ltd listed as the “owner”
  4.  The company Office is located in Hong Kong
  5. The wesite hosts in Brazil and the default language for the website is Portugese
  6. It stands to reason that those behind PayDiamond are based in South America – probably Brazil.

Red Flag #1: Always, be extremely cautious dealing with any company that is not openly upfront about who is running it or exactly who owns it.

PayDiamond at a Glance

Company: PayDiamond.com

Founded:  The domain paydiamond.com first registerted November, 2014.

Price to join: $200-$36,000 initial investment plus monthly fees.

Do I recommend? No! The focus is on recruitment.  There are no other “products”.

Is There a Better Opportunity to Make Money Online or from Home?sign up wealthy affiliate

Pay Diamond Mission Statement

PayDiamond has a published mission statement from its website – paydiamind.com:  “Through a bold and innovative strategy to rescue the concept of multilevel marketing, bringing to market a product with high added value and full liquidity.”

Joining Pay Diamond

Membership to Pay Diamond requires an initial investment in one of the following five offered plans. Pay Diamond affiliates invest funds on the promise of an advertised 50-week return on investment.

  • Joy Membership – Initial investment $200 to receive $10 weekly for 50 weeks
  • Light Membership – Initial investment $400 to receive $20 weekly for 50 weeks
  • Plus Membership – Initial investment $1200 to receive $60 weekly for 50 weeks
  • Master Membership – Initial investment $3600 to receive $180 weekly for 50 weeks
  • Premium Membership – Initial investment $36,000 to receive $1800 weekly for 50 weeks

Does Pay Diamond Have Any Products to Sell?

Pay Diamond has no products or services for affiliates to sell. Therefore, affiliates recruit others to join and invest in Pay Diamond affiliate memberships.  In general, commissions are paid for any new memberships an affiliate is able to sponsor.

Earning PayDiamond Commissions

PayDiamind Sponsoring Commissions

When you sponsor new members to invest in PayDiamond, you earn commissions. However, the amount you receive depends on how much the new members invest:

  • Joy Membership sponsors receive  $5
  • Light Membership sponsors receive $10
  • Plus Membership sponsors receive $30
  • Master Membership sponsors receive $100
  • Premium Membership sponsors receive $1000

PayDiamond Residual Binary Commissions

In addition, affiliates can also qualify for residual binary commissions.  To qualify for binary commissions, an affiliate must recruit at least two new members to invest.  Then, these two new investors become the two binary legs that qualify the original member for additional recurring commissions.

  • Pay Diamond tally up points generated by new investment volume on both sides of the binary team each day.
  • Pay Diamond pays affiliates 50% of the points generated on their weaker binary side.
  • Leftover volume from the stronger binary side carries over the following day,
  • Each day, the process repeats itself.

As a result, the higher the initial investment, the higher the income potential available through the PayDiamond Compensation plan for new memberships. For example, each PayDiamond investment plan has a specified point value:

  • Joy Membership – 50 points
  • Light Membership – 100 points
  • Plus Membership – 300 points
  • Master Membership – 1000 points
  • Premium Membership – 10,000 points

PayDiamond charges a monthly fee as well.  But, the website does not disclose how much this fee actually is.  So, one must apparently become a member and join to see exactly what is behind the membership curtain.

Pay Diamond Scam Warnings

The Manitoba Securities Commission (MSC) in conjunction with the local Police Service issued a warning to Canadians and Manitoba residents about PayDiamond in 2017.  They describe the operation as an Internet-based diamond distribution company purportedly operating from Hong Kong. The evidence indicates the company may be operating Pyramid or Ponzi scheme, with recruitment activity in Manitoba, Canada.

What is a Ponzi Pyramid Scheme?

In a Ponzi pyramid scheme, investors are promised high returns. Unfortunately, the instigators are only able to sustain the operation by paying interest to investors with money brought in by new investors. Usually, these new investors are attracted by stories of people that claim they are receiving high returns.  In some cases, individuals do receive small amounts in the early stages of the scam.  And, as a result, this fuels the appearance of liquidity and legitimacy.  Eventually, Ponzi schemes collapse.  Also, most investors lose all the money they put into the scheme.

Is PayDiamond a Ponzi Scheme?

According to MSC, PayDiamond’s business model is to raise money from investors.  Next, the money is pooled into a fund to purchase raw diamonds. So, investor returns are allegedly from the profits of the pool in which they have invested.  Interestingly, investors are called “affiliates” and buy in between $200 and $36,000, for terms up to 50 weeks. As a result, investors are supposed to receive a weekly payment until the end of the term when the diamonds are sold with profits to be split with the affiliates.
Investigators say “There is a heavy emphasis on recruiting new investors.  An ‘affiliate’ is paid based on the amount invested by people he or she recruits. This is a red flag. Additionally, the ‘affiliate memberships’ maybe be considered a trade in a security, and PayDiamond is not registered to sell securities in Manitoba.” Len Terlinski, MSC Spokesman
However, the evidence indicates the company may be operating Pyramid or Ponzi scheme, with recruitment activity reported in Manitoba, Canada.

What does LifeInBlock have to do with PayDiamond?

PayDiamond is moving its members to LifeInBlock.  Interestingly, both PayDiamond and LifeInBlock shared posts on Facebook.  So, here are ten questions with answers from the shared posts – Source: Facebook

Facebook Questions about LifeInBlock Ownership of PayDiamond

1.Will the entire Back Office Paydiamond balance be paid in full?  Answer: Yes, ALL the paydiamond balance of your back office will be paid INTEGRALLY along with the weekly Bonuses that still remain to your Login!

2. How will the Balance be paid?  Answer: It will be paid TOTALLY in Mktcoin, with the value of the site: www.mktcoin.org.

3. Will the Paydiamond balance be paid once?  Answer: NO, precisely so that there is no “dumping” of currencies in the market and consequently an even greater decrease of the value of the currency in the Exchanges. Therefore, the Backoffice Balance of all paydiamond logins will be paid weekly in 50 weeks. So, to calculate, get your balance split by 50 and this will be the amount you will receive weekly.

Questions 4-7

4. Where will I receive the balance of meuback office paydiamond?  Answer: Inside a new Back office on the site:
http://office.lifeinblock.com/login, entering with the same login and password of your Paydiamond account.

5. To receive my paydiamond balance do I need to be “activated”, or pay for a new package on lifeinblock.com?
ANSWER: No, it is NOT necessary.  So, you will receive ALL of your balance and Bonus PAYDIAMOND Bonus at http://office.lifeinblock.com/login, without having to activate any package.

6. To receive the bonuses of the new company in Bitcoin and make network should I pay for new package on lifeinblock.com?  Answer: Yes, if you want to continue registering new members and working professionally the LifeinBlock Multilevel, you will have to choose one of the packages and pay in Bitcoin, and soon you will be able to receive the bonuses coming from this new company (Direct indication, Binary etc. ) in BITCOIN.

7. How will this new company (lifeinblock) help in the valuation of the Mktcoin currency?  Answer: In this new company, all members who pay a new package and wish to qualify for the career plan that will entitle them to share part of LifeinBlock’s profits, will have to make massive purchases of Mktcoin and MANTE-LAS in a portfolio for a minimum of 6 months. That is, there being greater demand for the currency, the price would rise rapidly.

Questions 8-10

8. What are the benefits of paying for a new LifeinBlock Package?
Answer:  First, is to be able to re-develop a more secure network work, with payment in BITCOIN.
Second, qualified Lifeinblock, will receive subsidies from the company, ie receive their balance Paydiamond, in Mktcoin at a lower quote than the website: www.mktcoin.org (subsidy this banked by lifeinblock).

9. Then, what will paydiamond do from now?  ANSWER: ONLY AND ONLY to carry out currency valuation operations, among such transactions as announced by President Carlos Luiz.  Also, there is an open negotiation for adoption of Mktcoin as the official virtual currency of a country.

10. So, paying the package in Lifeinblock, am I automatically eligible to receive binary bonus?  Answer: NO, to qualify for Binary, you must have an active package in Lifeinblock and have at least two active direct signers (with paid package in lifeinblock).  One on your right team and one on your left team.

Source: Facebook

Did LifeInBlock Purchase PayDiamond?

MKTCoin International claims they purchased PayDiamond

The individual in the video says they made an offer to purchase PayDiamond and will:

  1. Take over the network systems guaranteeing payments.
  2. Offering posibilities of infinite gains with our new systems.
  3. From now on all PayDiamond Associates will lead our platform, obtaining high level positions.
  4. Receiving their PayDiamond bonuses.
  5. Guaranteeing the continuity of all work that has been developed

MktCoin International released the video.  But, in my opinion, the speaker uses a terrible wig as a disguise and a forced accent…

LifeInBlock Company Information

Unfortunately, there is very little information on the company’s web page – lifeinblock.com:

As we complete all the pending returns, we at LifeInBlock appreciate the opportunity to work closely with you and the strength and dedication to complete this cycle.

So, we wish you all the best of luck in the next few opportunities.  Bohdan

LifeInBlock About Page

“We work with a binary system that manages to distribute the greatest amount of profits to all the supporters of this great endeavor that will be LifeInBlock.

We are a company with a staff that has over 20 years experience in IT and Computer Systems.  Also, more than 7 years working and obtaining profitability in Hold, trading, Arbitragem, development in cryptocurrencies, exclusive Boot, mining and Invest in Ico.”

LifeInBlock – PayDiamond Conclusion

The Manitoba Securities Commission warns to stay away from PayDiamond.  Further, they likened it to a Ponzi pyramid scheme.  Their opinion is good enough for me…

Is There a Better Opportunity?

Check out my Ultimate Side Gig…sign up wealthy affiliate

 

 

AUTHOR

Alan James
Alan James is a blogger and author. He’s best known for non-fiction topics pertaining to personal finance, investing, making money and building wealth.

You may also like

Leave a comment

Your email address will not be published. Required fields are marked *

7 thoughts on “PayDiamond Review – PayDiamond Members Shift to LifeInBlock”