Bitcoin Forum

Hi everyone,
I just signed up with Cryptobitx.com and I'm wondering if it's really a genuine or scam. Can anyone please help?



Main website:
cryptobitx.com
 (https://cryptobitx.com/)

Facebook Group Page:
Cryptobitx Facebook Group
 (https://www.facebook.com/groups/361428434233323/?ref=br_rs/)

This is what they have on their How Cryptobitx Works page



How Cryptobitx Works


The Cryptobitx global peer-to-peer donation network is a way for you to help others like yourself, and in exchange they will help you. We are a community of people looking for financial backing in the projects that will fulfill us and bring more joy to the world. If you want to experience the success of turning your dreams into reality, then pay attention. We have as system that works for everyone. It's a Cryptobitx.

Become an active member of our community

Start by signing up and getting your acccount set up. You'll need a bitcoin wallet in order to participate. You can get a free wallet at https://blockchain.info. Once you have your wallet input it into the form on the "Bitcoin Wallet" page.

Next, you need to upgrade your account by providing a small donation to the person who referred you, or someone else they referred. Follow these simple steps:

Click the upgrade button
Get the wallet address and the amount for the donation.
Go to your wallet website and send the amount of bitcoin to the wallet address from step 2.
Get the transaction hash id from the site you sent the bitcoins.
Copy and paste the transaction hash id into the payment verification form on the upgrade page from step 2.
Enter the amount paid, and click submit.
That's it! You just made your first donation!

Your bitcoin donations are verified and confirmed automatically within minutes.

Now you can get referrals of your own and start receiving funds from them just like you just funded your upline. If we all work together we'll all succeed to the highest levels.

Find your link on the "My Link" page. Share the banners with your referral link wherever you advertise. Tell your friends! This is an incredible opportunity.

The donation sharing network

When you join, you will get a sponsor. It may be the person who referred you, or it will be someone in their downline - someone else they referred or someone one of their referrals referred.

So, you'll make your first donation to your sponsor. That allows you to get referrals and receive donations.

The first 2 people who you sponsor will donate the 1st Grade amount to you.

The 2 people they each sponsor (4 total) will each donate the 2nd Grade amount to you.

The next level down - level 3 - (8 total) will each donate the 3rd Grade amount to you.

Getting the hang of it? This goes on for 7 levels growing each time in total by a factor of 2.

Now, the people you sponsor on your 1st level will donate the 2nd Grade amount to your sponsor.

Then they will donate the 3rd Grade amount to your sponsor's sponsor (3 levels up).

And on up the line it goes to 7 levels.

 

Donation Rules:

You must maintain an active membership to receive donations.
You must have made the grade donation within the specified period in order to receive that grade donation from others.
If you do not have the required grade active then donations at that grade which are due to you will pass up to your sponsor or someone else in your upline who is eligible.
Spillover

You will be able to have a maximum of 2 active referrals on your 1st level. Those are called your front line, or direct referrals. You may refer many more people who sign up with your referral link. If you have no active referrals on your front line, then no members you refer will spillover because no one in your downline is eligible yet. So, you may see that you have many more than 2 referrals on your front line if none are active.

Once the members in your front line make their first donations then they can have referrals placed under them. And once you have 2 active members on your front line the next ones who make a donation will spillover before doing so. They will be assigned to someone in your downline as their sponsor. The reset of your referrals will spillover when they register for an account.


Info provided on their homepage:
http://imgur.com/Lvir1sg
https://i.imgur.com/Lvir1sg.jpg

http://imgur.com/pCxyXLm
https://i.imgur.com/pCxyXLm.jpg

http://imgur.com/RfBza4I
https://i.imgur.com/RfBza4I.jpg


Thanks in advance for any help.

What is it? Exchange? Never heard about it

I do not know:D

They said it's a member to member donation website where everyone will get bitcoins after completing the matrix. After signing up, we need to pay .001btc to be upgraded to the first stage. But I think it's not likely possible. Like they said, at Stage 7, you'll get 1024btc, but when I do the math, 1024000 donors are needed to donate .001btc each for the first member to have 1024 btc. Or is my math wrong?

Update: the admin on their Facebook group posted some minutes ago; 34000 members

if youre realy ask
don't use shorten url and affiliate link, if use shorten i think you never ask, you only promotion affiliate link

youre share link, i think only pyramide scheme, ponzi scheme, you can get pay only get referal, never get referal you never receive payment, and youre money can lost

I dont believe anyone will still fall for all this bogus scheme. Its one of those MLM programme that comes and go within a short period of time without any basis. The people that it will favor are those that set it up because they get referrals leaving you with the effort to start convincing people to part away with their hard earned resources which is not always easy couple with the fact that a lot of people would have fallen prey of one or two of these schemes at one point in time.

Thanks, I've removed all the links.
And I think I understand what you were trying to explain.