Smart Media Technologies was initially launched in 2010 by David Martin. Smart Media Technologies was bundled with YOBSYN, a social media network affiliates asic bitcoin mining machines for sale hundreds of dollars to access. Commissions were paid out when they recruited others who did the same. In 2014 Smart Media Technologies affiliates were arrested in Bangalore, prompting the end of the scheme.
The concept flopped and so Dragon Mining, a cryptocurrency mining pool opportunity, was added to the company’s offering. Dragon Mining never took off on its own, or at least not enough to entirely sustain itself. At some point Martin decided to pull the plug and relaunch Dragon Mining as the core of the business. That brings us to Lifestyle Galaxy, which is pretty much a rehash of Smart Media Technologies’ previously failed ventures. Read on for a full review of the Lifestyle Galaxy MLM opportunity. The Lifestyle Galaxy Product Line Lifestyle Galaxy sell mining contracts to retail customers.
No details are currently provided, other than retail mining contracts will cost more than the same contracts Lifestyle Galaxy affiliates can purchase. Retail customers can also participate in Skill Dragon’s mobile games, however this is unlikely owing to the original concept having already flopped. These contracts are purportedly attached to bitcoin and ethereum cryptocurrency mining and are locked in for three years. The more an affiliate invests the higher their comparative daily ROI payout.
150 each time they recruit a new affiliate. Residual Commissions Lifestyle Galaxy pay residual commissions via a binary compensation structure. The first level of the binary team houses two positions. Subsequent levels of the binary team are generated as required, with each new level housing twice as many positions as the previous level. Positions in the binary team are filled via direct and indirect recruitment of affiliates. Note that there is no limit to how deep a binary team can grow. Residual binary commissions are paid out according to points.
Conclusion With crypto mining currently a favorite of the MLM underbelly, it comes as no surprise that long-time scams like Smart Media Technologies are trying to cash in on the trend. Problem is the idea already failed under Dragon Mining. There’s nothing new here, that’s literally all they’ve done. The MLM cryptocurrency mining ruse sees a company set up mining and pay affiliates a ROI. In mid-2016, well before the initial contract expiry the company ran out of newly invested funds and terminated all initial contracts.
With existing ROI liability wiped, the scheme restarted again. When new investment slows down they’ll probably collapse and restart again. This is the same model Lifestyle Galaxy are using. By and large though what little mining goes on doesn’t match up with ROI payouts. Furthermore neither the company or affiliates are able to provide any correlation between what token mining does take place and ROI payouts.
Then there’s regulatory compliance, with neither Lifestyle Galaxy, Skill Dragon or Dragon Mining registered with a securities regulator in any jurisdiction. Money-wise the only verifiable source of income entering Lifestyle Galaxy is affiliate investment. The use of which to pay a ROI makes Lifestyle Galaxy a Ponzi scheme. Recruitment commission paid out also add an additional pyramid layer to the scheme.