Call it a Donation Exchange or a Mutual Aid Platform, either way, it is a Ponzi.
You ask why? Simple and NOT LEGAL DESPITE WHAT YOU ARE BEING TOLD!
As soon as you need to recruit new members to pay existing members, it is a Ponzi scheme.
The fact of the matter is the system will crash, it is just a matter of time. Although this system has a RE-PH of 70% does not mean it will last, there is still a demand for new cash of 50% more every three days.
Do the maths, start with just R100 then multiply it by 1.5 then multiply the result by 1.5. Work it out over a 100 day period and you will see the cash required is more than SARS collected in the last 10 years.
Initially, the system may seem great and everyone will get paid, however, this is a movie we have all seen. The system starts slow, as people start getting paid there is a mad frenzy of people who join. Suddenly the updates start, then payments are delayed, then there is an attempt to restart/consolidate or whatever new terminology these creative owners have come up with and lastly, it all goes to hell and everyone is surprised, shocked, angry and left feeling betrayed.
The threats start, people run to their attorneys, then join a new scheme only to watch the same movie play out again as they lose more money!
BTC Returns, funnily enough, is another “scheme” born right here in South Africa. There are many familiar names promoting it and, well one that just hits as someone who has always wanted to start her own “donation” exchange, Liz Malton. Always thought she had the answer! Believe me, there is NO SUCH THING AS A SUSTAINABLE DONATION EXCHANGE.
I can assure you that the owners, JP. Rademeyer, Gideon Stols and Shaun Grundlingh, of this system, the admins and the promoters are Ponzi addicts and are lining their pockets with many many accounts. My guess is that they have at least SIX EACH!. In addition, the Owners of BTC Global, Cheri Ward, Clynton Marks and Andrew Caw were all found to have accounts in this system as they launder the Bitcoin they helped themselves to in BTC Global. The den of thieves is all connected and very tight.
Below are screenshots that show you just how crazy the numbers are and why you are walking yourselves down the road into a trap.
In addition, from one of the latest updates “4. Max deposit amounts have been increased: R15 000 & $1 600. ” shows that cash flow is not happening fast enough!
Take the time to look very carefully at the names on that telegram group and you will see the people from BTCG, TOI and Fox. They will be telling you that you can make up your losses – THIS IS NOT TRUE, YOU CAN NEVER MAKE UP A LOSS AND YOU WILL LOSE MORE.
The following screenshots show you just how ridiculous this new “donation exchange” is. I have not even bothered to take the referral bonuses offered to get you all recruiting even quicker as your greed overtakes your ability to think. No one listened as we pointed out at FOX was a scam, Trust Options or BDI but some familiar leaders are at it again.
BE CAREFUL – THIS WARNING IS NOT TO BE TAKEN LIGHTLY. YOU WILL LOSE MONEY IT IS A GUARANTEE.
Right so maybe it’s time to enlighten the BTC Returns members who are being kept in the dark about your referral commissions. The members pay them. It’s not complicated really. The Reserve Fund account is not one that’s there for any reason other than for the owners and admin to fleece the system.
You recruit a member and you get 20% of their deposit as commission. Of course those commissions have to come from somewhere and it’s not the owners who have any intention of paying you. So they load a GH for you and then another member pays you the commission. So you all paying yourselves commissions.
It’s going to add to an already stressed system and will only contribute to a quicker downfall.
You hearing the support stories and now a hacking story. Has anyone asked what the hack was? Have your details been compromised in anyway or is this simply the beginning of a long list of stories before this platform can no longer sustain the ridiculousness of what you’re being sold?
Here’s a newsflash. The man behind the website is JP Rademeyer. Your support team are the Ponzi kings and queens of SA. You’ve all lost money to them before and you’re about to repeat your mistake all over again.
So while you recruit to earn remember it’s only the members and even your own directs paying you the commission that you used to lure them into the system with. Hell you could be paying your own commissions!!
While the admin and owners, JP Rademeyer, Shaun Grundlingh and Gideon Stols, search and form group after group on telegram in the hope of finding a solution to an absolutely impossible situation and the donation list increases in length at lightning speed, they keep throwing the same story out to the hopefuls. Let’s say that the poor groups admins have been left to take the heat. Oh wait, they were paid over and over so they have not lost anything.
The reality is, it’s ……
Unfotunately the Reserve Fund account has been frozen. Yes, the banks in South Africa do not support the use of accounts for Ponzi schemes. The owners were taking illegal deposits and selling their own “Token” Monopoly Money if you will. Worthless despite having a value of R1-00, this RT can only be sold to buyers expected to redonate them back into a queue longer than the Great Wall of China.
As can be seen from the screenshots below and information freely available to extract from the website, their are certain people who received payments regularly, mostly the admin and leaders.
Of course we have the die hard leaders collecting funds for an advertsing campaign. Seriously, members donated to build a system where they would inevitably lose money, then they donated money to the Reserve Fund so it could be used to donate money back to members. What’s next?
It is time to call this a day, in fact it is time to get those responsible for designing these systems to answer for what they are doing.