This deal is looking deader by the minute. You can't really label this one a scam, since no one seems to have bought into or lost money on OneBitCoins / 1BitCoin Network other than a few unlucky shareholders. That would make this more of a failed pump and dump scam than an MLM scam.

My thoughts on the "launch" of OneBitCoins / 1BitCoin Network and the apparent failure to gain any measurable traction:

First, it was 1BitCoin Network touting "The Greatest International Network Marketing Opportunity launching in!...."  it ran down to 00.00.00.00 on the timer multiple times, now it's just a dead splash page that errors when loaded.

Enter OneBitCoins.com - the same page, same marketing message, same execs,  that launched a "directory" which is just a 300.00 bit of WordPress software for classified ads.

40 or so ads posted, most seemingly by the same people. One being the COO ( the original ads all contained the tags for who was posting and many contained the name and cell phone number of the COO before someone caught on and modified the classifieds code ).

Many of the classifieds don't even show up as being "approved". None of the ones that are active under onebitcoins.com seem to have anything to do with BitCoins.

I personally contacted two of the businesses listed, on a hunch, and neither had any idea how they became listed in the OneBitCoins "classifieds" directory. My guess is someone picked businesses at random to seed the classifieds, hoping for some kind of traction. It failed.

Even the longest running classifieds on the page have only been viewed a dozen or so times. No new "members" seem to be posting anything.

The entire deal is piggybacked on a public shell, trading under the name "GTRL".

The GTRL stock, already trading at a dismal .0043 cents per share ( yes, 4.3 tenths of a cent per share ) on the "launch date" is down over 50% to about .0021 cents per share. Volume traded today, 200 shares. That's 42 cents. I have no idea how someone even trades 42 cents worth of stock, it would seem that broker transaction fees would be far more than the share price.This could potentially go down as the biggest joke in network marketing history.

Still, not surprising when you look at the actual track record of "CEO" ( I have to put it in the equivelent of air quotes ) James Jim Clayton and seek out one existing MLM company where he was in a verifiable  management role.

My hunch is whoever acquired the public shell just needed someone without any negative history with the SEC to put on the filings - and although Clayton's track record with company's is less than stellar, he seems to be spotless when it comes to anything regarding regulatory actions. Good for you, Jim. And better luck ( or perhaps better planning ) next time.