My Blockchain Life: How a Crypto Mining Scheme Built on MLM and BitConnect Connections Targets New Investors
A cryptocurrency mining company called My Blockchain Life is operating with virtually no transparency about who runs it or where it's actually based—red flags that echo a previous crypto collapse that cost investors over $2 billion.
The company's website amounts to little more than an affiliate login page and some testimonials. There's no information about ownership, management, or corporate structure. My Blockchain Life claims to operate worldwide from the USA, but provides no physical address. The domain was privately registered on January 10, 2020.
The man promoting the scheme is Glen Williams, who identifies himself as co-founder and CEO. His LinkedIn profile shows he's based in Ottawa, Canada—not the United States. Before launching My Blockchain Life, Williams spent 13 years promoting ACN, a notorious multilevel marketing company. That ended in January 2020, just as My Blockchain Life's domain went live.
Williams' history with cryptocurrency is more troubling. He promoted BitConnect starting in 2017, a cryptocurrency scheme that promised unrealistic returns. When regulators cracked down, Williams defended the company online, accusing critics of having an "agenda." BitConnect collapsed a week later, leaving investors with $2 billion in losses. Williams then abandoned the Twitter account he'd used to promote it.
There's no public record of whether My Blockchain Life's other co-founders also promoted BitConnect.
The scheme itself centers on convincing people to buy overpriced equipment. Affiliates must spend $3,000 on either a Block X Miner or a 77 TH/s BTC Miner, then pay additional hosting fees of $1,250 for 500 days or $2,000 for 1,000 days. The company doesn't sell actual products or services—affiliates can only market the affiliate membership itself.
Commissions come when recruits buy mining equipment and pay hosting fees. All payments are in bitcoin, adding another layer of difficulty for investors trying to track their money. The compensation structure is based on accumulated sales volume across a binary team structure, with nine affiliate ranks ranging from Prospector up through higher tiers.
Prospectors must recruit two affiliates and accumulate 5,000 GV in their weaker binary side. Bronze members need 12,500 GV. Silver requires 25,000 GV. Gold and higher ranks demand progressively larger volumes and more personally recruited affiliates.
The mathematics here are simple: most people lose money. The scheme survives only as long as new recruits keep joining and spending thousands on equipment they'll likely never recoup. Once recruitment slows, the entire structure collapses.
For anyone considering investing in My Blockchain Life, Williams' track record should be the deciding factor. A man who promoted BitConnect days before it imploded, then moved directly into another cryptocurrency investment scheme, isn't building legitimate business—he's relocating his operation.
🤖 Quick Answer
What is My Blockchain Life and how does it operate?My Blockchain Life is a cryptocurrency mining company operating with minimal transparency regarding ownership and management structure. Founded in January 2020, it operates an affiliate-based business model with limited corporate information disclosed publicly, raising concerns about operational legitimacy and regulatory compliance.
Who are the key figures associated with My Blockchain Life?
Glen Williams identifies himself as co-founder and CEO of My Blockchain Life. His professional background and involvement in the company's operations are documented on LinkedIn, though comprehensive details about management structure remain unavailable to the public.
What regulatory concerns surround My Blockchain Life?
The company exhibits characteristics associated with multi-level marketing schemes and demonstrates connections to BitConnect, a cryptocurrency platform that collapsed causing substantial investor losses. The absence of verifiable corporate information, physical address, and operational transparency raises securities fraud concerns.
**How does My Blockchain Life's business model function?
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