The time has come to look at yet another Bitcoin Ponzi Scheme, of which there are far more than one can count these days. 10Bitz offers some interesting rewards for investors, but no one should expect any legitimacy from this company whatsoever. Earning 10% daily forever sounds quite appealing, but funds will dry up eventually.
10Bitz Is A Ticking Timebomb
Looking over the 10Bitz websites gives off an immediate vibe of “ponzi scheme” to say the least. Everything is pictured in such a way everyone should be able to become rich from this program. However, the only ones who will be getting rich are the people responsible for running this website, and not the end users.
Offering investors very high returns every single day is not unusual in the Ponzi scheme world. In fact, the 10-18% daily rate is not even that high compared to some other offerings we have seen in the past. But everyone with three peas for a brain can figure out those rates are not sustainable in the long run.
What is even more disconcerting is not knowing how the company plans to achieve these rates. There is no business plan on the website, and they are not involved in mining cryptocurrency either. Then again, the vast majority of Ponzi Schemes has no clear-cut plan to make money other than hoping to see more investors join the program every single day to distribute funds to earlier participants.
What is interesting is how this scheme keeps track of how many days it has been in operation for. Despite attractive ROI numbers, the “company” only saw US$7,877 invested. Do not take this number seriously either, as it is quite easy to modify these statistics and create fake payouts.Moreover, only slightly above 25% of all registered users have an investment active right now, which is not lending too much credibility to this platform either.
Last but not least, it is impossible to find out any information about the people behind this Bitcoin ponzi scheme. 10Bitz, just like most of its consorts, lists no contact information – other than a small form – on the site. There is nothing in the WHOIS records, which is not entirely surprising. However, the domain was registered one day before 10Bits went live, which is a clear scam indication.
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