BitBillions GBBG

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aussie_striker:

Since there is so much negative in here I thought it worth stating the milestones that GBBG Bitbillions has achieved over the last few months. It is worth taking notice as it is a far cry from the people that claimed it would never have any other sites, would never pay out, would never have revenue sources and would disappear by April, then May, then June....

This is the real progress and there are bigger things coming.

31Jul13 - Passed 10,000 positions.
Aug13 - Founder Position offer closed.The Founder referral commissions paid total 223.5 BTC (that is the last figure I had, it would be a bit more than that because the last ones were not posted).
Sep13 - Co Founder positions released for sale for the second revenue share pool.
Sep13 - Iwantacar (revenue source - free and premium members earn entries to win a car) was released and has had 450K entries generated by members so far.
Oct13 - Bitfeud (revenue source - members participate in flash sales where they buy bitcoin at half price) was released and has already had several successful flash sales giving members $550 in profits so far.
Oct13 - MyBitcoinRewards (revenue source - 3 pools of different bitcoin amounts that free and premium members earn entries in to win) was released and will be awarding the first 1BTC prize very soon. So far 384K entries have been generated by members.
Oct13 - Passed 15,000 positions
Oct13 - Membership upgrades on iwantacar aligned to match MyBitcoinRewards (made it cheaper and easier).
Oct13 - Announced new bitcoin product in works due for release 1st half of 2014.
Oct13 - Bitbillions forum opened.
Nov13 - GBBG-Ware (revenue source - developers website services for hire) was released and has already secured the first major contract reportably worth around $40K.
Nov13 - November Commissions Payments paid out over 20 BTC.
16Nov13 - Passed 20,000 positions

There is another website (revenue source) expected to be released in December.
Apart from the big project for 2014 I do not know what other sites will be released at this stage in the meantime but I expect there probably will be some.

This is not going away and as you can see there has been plenty of progress.

aussie_striker:

I thought this was worth posting. In the Bitbillions forum someone stated they thought it was a ponzi. GBBG admin replied and showed why it wasn't. Although I am sure MPOE-PR will say that it is all just lies, I am sure those here with more intelligence than a 12 year old will see the reality here. Here is a copy of the post.

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Quote from: bitbillion on November 19, 2013, 05:03:57 AM

i signed up for Bitbillions a couple days ago- well its a ponzu scheme and nothing else- dont tell me anything diferent
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It is in the best interest of all members of bitbillions that we address loose-tongue remarks such as these. The person who made this post adamantly stated that bitbillions is a ponzi scheme and 'nothing else'. It would be a disservice not to provide the reasons why this is not a true and accurate statement. We believe wholeheartedly in truth, accuracy, and 100% transparency.

1. A ponzi scheme is a scheme where the perpetrator of such scheme takes money from one person in order to payout promised gains to another person. In otherwords, the ONLY source of 'earnings' to be generated for those that earn is that is comes from those that follow. In addition, a ponzi scheme normally promises unreasonable, and pre-defined earnings or returns upon investment.

bitbillions fails this test in two ways. First, we have verifiable revenue streams that are NOT dependent upon membership or paying one person solely from the receipts of another. Second, we make absolutely no promise of a pre-defined earnings amount for any member. Rather, we state up-front that earnings will be a function of the total revenues of the organization, divided by the total points earned by all members. This is a variable algorithm based completely in verifiable revenues and activity points.

2. A ponzi scheme has two very important components that absolutley do not apply to bitbillions
In order to participate members are required to deposit funds The ONLY source of funds for the system is the deposits of participants

bitbillions fails both of these tests. First, ANY person on earth can participate in bitbillions and EARN points and bitcoins without ever paying a penny. Free members are allowed to participate, join earnings sources, earn points, and share in the revenues. Without ever paying anything to the site for any reason whatsoever. Second, membership fees are only 1 of the many sources of revenue. GBBG earns revenue by developing software for other organizations, supporting servers and IT infrastructure, selling advertising, selling game sponsorship, consulting, membership fees, and the direct consumer sales of products. Many of these revenue sources are already in place and can be verified (such as our recent 22BTC retainer from a software client). Many of these revenue sources will become reality in the future as we roll out new products. Therefore, bitbillions emphatically fails the ponzi scheme test.

Our company has already satisfied regulations with banking, credit card processing, and even PayPal Compliance Department to validate the legitimacy of our business plan and the fact we are NOT a ponzi scheme or scam. We will attach verification from the compliance division of PayPal upholding this statement. In addition, any person on earth can check the Transparency pages of our site to verify that we are actually delivering exactly on our payout promises to our members. 100% of commissions have been paid, as promised. 100% of pooled revenues have been set aside to be paid out to membership as promised. 100% of points have been assigned to members as promised. All of this is open, transparent, and verifiable.

We feel honesty, integrity, and transparency are paramount to our business model. People who read this thread should have accurate information by which to measure the loose-tongued remarks of the person that made the above post. Anyone may review the attached email to verify that the compliance department of one of the most respected financial organizations on earth has certified our business model. In addition, anyone may visit any of the transparency pages of any of our sites to verify the accuracy and integrity of our revenue, points, and compensation models.

We are so committed to integrity and honesty that we went out of our way to gather the approval of organizations such as PayPal before we even implemented them into our system. We wanted to ensure to regulators and compliance officials that we are operating truthfully and within the scope of the law. We also wanted to ensure to ourselves that our ideas, revenue, and compensation models were legitimate.
Ť Last Edit: November 19, 2013, 02:46:27 PM by GBBGadmin ť

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aussie_striker:

The My Bitcoin Rewards site (a GBBG site) has announced that it is going to award 1 Bitcoin on 30th of November. The site has three pools with various bitcoin amounts. Current;ly those are 1 BTC, 5 BTC and 10 BTC. Members earn entries by clicking on ads. Free members earn one entry per ad and premium members ($5 per month) earn 10 entries per ad. GBBG points for revenue share are also earned at the same rates as the entries.

Once the Pool reaches the amount set ie 1 BTC, a winner is randomly chosen from the entries in that pool.

Due to rapid rise there is about to be a change as indicated on the site.

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ALERT

Due to the rapid increase of BTC value and the opinion from our fund managers that BTC will continue to rise in value, we will hold a drawing for the 1st pool on Saturday, November 30, regardless of the number of BTC in the pool. We will also adjust all 3 pools to amounts more appropriate with current BTC values. This should make things MUCH MORE FUN AND EXCITING HERE!
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The likelyhood is that after the drawing for the first pool, the pools will be adjusted to amounts that will fill more quickly. Considering that Bitcoin has grown by more than 10 times since the site started this is necessary otherwise it will take a long time for the pools to award members. I expect the amount could change to something like 0.1 BTC, 0.5 BTC and 1 BTC.

aussie_striker:

Results of the 1 BTC drawing which was delayed to 02Dec13 and subsequent 0.1, 0.2 and 0.3 drawings held on 09Dec13. There is going to be drawings every monday for each pool until the funds allocated are back down to under the set amounts. Then it will have drawings as they get to those set amounts again. It means there will be drawings every monday for at least 6 weeks..

20131209-001    0.10 BTC    ID: 17m3Mn8ZM5982GrDbdWx9VzqNQ4F11zF5A
Payout: 13LtDyd6dGPngSfwnoDAX65fnvmCWrpMwd

20131209-002    0.20 BTC    ID: 14a3cYQyfH8JkujbbLmewCrSq1qECGwToF
Payout: 1ZnuCZK86EcPZHSEq1dAPR7PcZC5VrQHz

20131209-003    0.30 BTC    ID: 1Bph5RzNbvVj9g9ikNsXhRPpmXDQXzTzB8
Payout: 1G57SbzTC7QFFGitqSV5HtNpNUXusf8tPB

20131202-001    1.00000000 BTC    ID: 1MpBTqRWzJp6jNDtaRxzyjwoo1uWuvWW4g
Payout: 1Gg5hXypFBu6vkFd3zHs1YKw9JQc7jCLxo

aussie_striker:

November referral upgrade commissions have been paid.

The commissions cover referral upgrades from November. That means any upgrades made in December are still pending and will be paid in next months commission run.

Also for anyone that doubts the legitimacy of GBBG they are Silver members of the Bitcoin Foundation. You can see that they are on the Bitcoin Foundation members page https://members.bitcoinfoundation.org/current

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