MMM Nigeria has introduced Mavro-BTC as a means to provide and get help. To provide help means to contribute or donate money to other participant while to get help means to withdraw your money or receive donation from another participant.
Since MMM announced the introduction of mavro-BTC, Nigerian’s cyberspaces has been hogwashed with different theories of what the Mavro-BTC stand for or look like. Some even said that Sergey Mavrodi, MMM founder knew that the number of PH cannot meet up the expected massive GH when confirmed Mavros are unfrozen on January 14.
As a participant and someone who understand how MMM works, I have decide to offer an explanation of how the newly introduced Mavro-BTC will work, the need for it and to debunk the rumours spreading around.
To understand MMM Mavro-BTC, let me start by explaining that MMM in all the countries that it operates, make use of the currency of the country for Providing help and Getting Help. The same is seen in MMM Nigeria. MMM Nigeria uses Mavro-Naira.
So, what is Mavro-BTC?
Mavro-BTC is Mavro Bitcoin. Mavro-NGN means Mavro Nigeria, Mavro –USD means Mavro US dollars. If you check your Mavro in your personal office, you only see Mavro-NGN and Mavro-USD even when PH in Bitcoin. Please be aware that there are nothing like Marvo Naira, Mavro USD and Mavro BTC outside MMM. These terms are strictly MMM terminology only. Formally, MMM participants PH and GH in Naira although the registration bonus ($20, $50 and $100) is usually in Mavro-USD but it is converted to Mavro-NGN at the point of GHing. What this means is that your mavro-USD is paid out in Naira at the prevailing exchange rate of USD to NGN at the time of GHing.
Aside providing help and getting help in Naira, some participants also provide help in Bitcoin. WHen you provide help with Bitcoins, you will get 50% reward in 30 days while you will get 30% reward in 30days when you provide help with Naira.
The 50% reward participants get when they provide help using bitcoin is usually given in Naira value of Bitcoin and not in 50% of the bitcoin value of PH. For example; when you provide help of 1bitcoin (say 1BTC = $800 at the time you provided the help), your GH should be 1.5Bitcoin in 30days (say 1BITCOIN = $900 at the time of GH ) but what you will get is $1200 value of bitcoin which will not be up to 1.5BTCat the time of GH because bitcoin is a volatile cryptocurrency. While the reward for MMM Bitcoin is 50% before now, the reward for Mavro-BTC is 30%. The flip side of this is that, when you PH in Mavro-BTC, you will get 30% of your bitcoin value certainly and you can also earn more from the possible increase of bitcoin value in the market. Practically now, if you PH 1BTC (say IBitcoin = $800 at the time of PH), you will get certainly 1.3BTC (say 1Bitcoin = $900 at the time of GH) in 30 days and you will also earn from the extra $100 increase in the values of bitcoin.
Many participants don’t know anything about bitcoin and are worried on how to deal with this new development. It is nothing to worry about because MMM has given you the option to PH in Naira and GH in Mavro-Naira or Mavro-BTC depending on what you want. It is strictly your choice.
The mavro-BTC is a win win for all participants of MMM. MMM is always protects the interest of its members.
Check it out; how to provide and get help with Bitcoin in MMM Nigeria
MMM Nigeria resumes today 13th January, 2014; Read more!!!