Even though no one in their right mind would ever use these so-called Bitcoin doublers, that is not keeping site owners from launching their own Ponzi schemes. Greed attracts a lot of potential investors, and doubling one’s money within five hours sounds very appealing, despite knowing one will never see their funds back. Powerdouble is not faring any better than other similar offerings, as they are struggling to pay out users after the first investment.
Powerdouble is one of the most recent Bitcoin doublers to launch on BitcoinTalk. The principle of all of these schemes is rather simple: invest any amount of Bitcoin, and get twice that amount back after a certain time period. Or that would be the case, assuming there are enough people willing to invest after you did, so you can be paid out from their investment amounts.
In the case of Powerdouble, investors would be able to double their investment within five hours. A minimum and maximum deposit amount are set in place to avoid a flood or smaller transactions. However, although the maximum investment is capped at one Bitcoin, that is still a lot of money that could be lost at the end of the day.
During this five-hour period, investors should – technically speaking – receive 24 Bitcoin payouts. Every payout will represent a 8.33% return of the original investment, until the funds has been doubled after five hours. For those users who are not keen on investing, the affiliate program might be worth checking out to make some money. That is, assuming you have no morals and want to alienate the people you know and care about.
So far, over 70 deposits have been made tot he Powerdouble platform, and none of them have seen their original investment back. Even the initial deposit, which was just 0.005 BTC, still has 15 payouts left. Keeping in mind how this funds was deposited over 24 hours ago, things are not looking all that great for Powerdouble.
Anyone with half a functioning brain will steer away from Powerdouble, as there is absolutely no chance anyone will get their money back, let alone double it. The comments on Bitcointalk are not instilling any confidence either, as there are a lot of newbie members bumping the topic without substantial evidence of any payments.