Is this company legit or some three queue cycler Ponzi position scam program?
Lets take a closer look and see.
Bit Cycler Review
There is absolutely no information on the Bit Cycler website signifying who owns or runs the business. In fact, at the time of this publication, the site is nothing more than a login page.
The Bit Cycler website domain, bitcycler.com, was registered on October 6, 2016. Francisco Gomez of 3fera is listed as the owner.
3fera seems to be a web design and marketing company based out of Spain.
The official Bit Cycler Facebook group lists 3 administrators; Tonatiuh Cordero, Antonio Solis and Armando Castillo.
Seemingly 1, 2 or all 3 of these people are running Bit Cycler. I was not able to irrefutably confirm who.
And again, if an MLM company is not willingly truthful about who is running or owns it, think long and hard about handing over any money.
Bit Cycler Product Line
Bit Cycler has no retailable products or services whatsoever, with members only capable of marketing Bit Cycler affiliate membership itself.
Bit Cycler Compensation Plan
BitCycler members buy spots in 3 straight-line queue cyclers.
When 2 new spots are bought in each queue, the spot at the top of the queue is paid a cycler commission as follows:
- Cycler 1 (positions cost $20) – $26 cycler commission
- Cycler 2 (positions cost $50) – $67.50 cycler commission
- Cycler 3 (positions cost $100) – $140 cycler commission
When a cycle commission has been paid, the cycling spot is removed from the queue and all remaining spots move up a place.
Referral commissions are available on spot purchases by recruited members, paid out through a uni-level compensation arrangement.
A uni-level compensation arrangement puts a Bit Cycler member at the top of a uni-level team, with each personally recruited member put directly underneath them (level 1).
If a level 1 member recruits new members, they are put on level 2 of the original member’s uni-level team.
If a level 2 member recruits new members, they are positioned on level 3 and so on and so forth down a hypothetical countless number of levels.
BitCycler caps referral commissions down 5 levels of recruitment.
All BitCycler members earn referral commissions on personally recruited members. To earn on levels 2 thru 5 of their uni-level team they have to recruit at least 10 members.
Subject to the above criterion, Bit Cylcler referral commissions are paid as follows:
- level 1 (personally recruited affiliates) – 10%
- level 2 – 5%
- level 3 – 3%
- level 4 – 2%
- level 5 – 1%
As BitCycler members develop their uni-level team, the above percentage amounts are increased:
- recruit 100 affiliates – 13% on level 1, 7% on level 2, 4% on level 3, 2% on level 4 and 1% on level 5
- recruit 1000 affiliates = 15% on level 1, 8% on level 2, 5% on level 3, 3% on level 4 and 1% on level 5
- recruit 10,000 affiliates = 20% on level 1, 10% on level 2, 6% on level 3, 4% on level 4 and 2% on level 5
Joining Bit Cycler
BitCycler affiliate membership is free.
To partake in the opportunity though, members must buy at least 1 cycler queue spot ($20.00 to $100.00).
Note: All payments within Bit Cycler are made in bitcoin.
Bit Cycler Conclusion
BitCycler is a Ponzi scheme.
Members invest $20.00, $50.00 or $100.00 on the potential of a respective $26.00, $67.50 or $140.00 ROI.
As per the cycler queue arrangement, that ROI is paid out of successively invested funds and makes Bit Cycler a Ponzi scheme.
Modest scams like Bit Cycler are usually launched near Christmas time, with the intent of extorting victims just before the holidays.
An administrator swiftly puts together a site, preloads a horde of spots and then opens it to the public.
Christmas ends, the scheme collapses, and the admin disappears.
As with all Ponzi schemes, Bit Cycler’s collapse will hit when new member investment ends.
At that point, members who have spent more than they’ve stolen from other BitCycler members ultimately lose out.
With 2 new spot purchases necessary to produce one ROI in each queue, most Bit Cycler members will end up with a loss.
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