BitFundZA Review: 3×5 matrix bitcoin gifting scheme
BitFundZA provide no information on their website about who owns or runs the business.
The BitFundZA website domain (“bitfundza.co”) was privately registered on August 16th, 2017.
Further research reveals The BitFundZA website uses a favicon hosted on the Loop and Beyond website domain:
A visit to the Loop And Beyond website reveals it to be a 1:1 clone of the BitFundZA website.
The Loop and Beyond website domain was registered prior to BitFundZA on July 6th, 2017, suggesting it was a staging site before the main site went live.
The Loop and Beyond website domain is registered to Ketan Singh through an apartment address in the US state of New Mexico.
Whether Singh, as represented on the Loop and Beyond domain registration, exists is unclear. The name is that of a well-known Indian actor and the Loop and Beyond domain uses Indian name-servers.
BitFundZA is likely on the same server as Loop and Beyond, however it’s behind CloudFlare so I can’t verify for sure.
No information connecting Singh to BitFundZA outside of the domain registration is available, so it’s entirely possible he doesn’t exist. In that case whoever is actually running BitFundZA is likely based out of India itself.
The UK is another possibility, with Alexa currently estimating the country is the largest source of traffic to the BitFundZA website (23%).
As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money.
BitFundZa Products
BitFundZA has no retailable products or services, with affiliates only able to market BitFundZA affiliate membership itself.
The BitFundZA Compensation Plan
BitFundZA affiliates gift bitcoin to each other via a 2×5 matrix.
A 3×5 matrix places a BitFundZA affiliate at the top of a matrix, with two positions directly under them:
These three positions form the first level of the matrix. The second level of the matrix is generated by splitting these three positions into another three positions each (9 positions).
Levels three to five of the matrix are generated in the same manner, with each new level housing three times as many positions as the previous level.
A BitFundZA affiliate signs up and gifts 0.0035 BTC to the affiliate who recruited them.
This payment in turn qualifies them to receive 0.0035 BTC gifting payments from three subsequently recruited affiliates.
The remaining four matrix levels operate in the same manner, with each new level increasing gifting payments paid and received.
- level 1 – gift 0.0035 BTC to the affiliate who recruited you and receive 0.0035 BTC from three subsequently affiliates
- level 2 – gift 0.0075 BTC to your second upline and receive 0.0075 BTC from nine affiliates
- level 3 – gift 0.05 BTC to your third upline and receive 0.05 BTC from twenty-seven affiliates
- level 4 – gift 1 BTC to your fourth upline and receive 1 BTC from eighty-one affiliates
- level 5 – gift 4 BTC to your fifth upline and receive 4 BTC from two hundred and forty-three affiliates
An affiliate’s second upline is the affiliate who recruited the affiliate who recruited them.
The third upline is the affiliate who recruited the second upline and so on and so forth.
Joining BitFundZA
BitFundZA is tied to a minimum 0.0035 BTC monthly gifting payment.
Full participation in the BitFundZA income opportunity costs 5.061 BTC every thirty days.
Conclusion
BitFundZA refers to itself as a “Global Peer to Peer Platform”.
“Peer to peer” payments is MLM underbelly code for cash gifting.
This is laid out in BitFundZA’s “no refunds” refund policy:
All payments and/or donations you willingly and directly send to a fellow participant [sic] are final. No Refunds.
With affiliates paying affiliates, BitFundZA will operate for as long as new affiliates gift funds through the bottom of the company-wide matrix.
Sitting at the top of the matrix is Ketan Singh or whoever is running the scam. Each new matrix level funds larger amounts of bitcoin towards the top of the company-wide matrix.
Through preloaded admin position(s), the BitFundZA admin thus collects the majority of funds deposited.
A few early adopters might also manage to earn a bit. However the math behind a gifting scheme ensures that when it collapses, the majority of participants lose money.
BitFundZA is the latest “Golden Goose” that Rev. Sheila Tabarsi is steering her few faithful followers into in the hopes of generating referral commisions for Sheila.
Whatever happened to the launch of “The MarketPLace”?
crickets
SD
Bitfundza will not work. Founders are Max Garza 111 and Raymond Follmer and it does not need a Company as they sit at the top of the matrix so they probably have multiple positions at the top to pick up initial payments.
When you look into the plan in detail you will find it is not a 0.00035 payment but a monthly payment of that amount.
If you miss the payment you lose your downline and they spill upline. Unlike the usual situation where you regain your downline if you pay the monthly fee say next month with Bitfundza it is gone forever. Whats more they are talking about starting other matrices with ethereum and other coins.
For you to get the max suggested payout you need 243 on your level 5 and a total of 363, which does not sound to silly until you realise that if these people are going to pay you they will all need 363 in their matrix i.e. 243 x 363 =88,209 and for those people to get paid they need 243 x 88,209 =over 32 million and with just another one or two matrices filled everyone on the planet will need to be in bitfunza (oh yes and paying every month).
So the only people with any chance of making real money are the guys at the top, who everyone will spill up to as people drop out like flies when they realise they have to pay monthly. Great way to lose your friends too.
According to some affiliates, this has already gone down with all new deposits going straight to the company rather than other affiliates.
Why speculate when you can read the history for yourself?
Telegram link: t.me/joinchat/FOzw_kN6qiU1uXjjJt6bmg
Owners
Max Garza: facebook.com/make6figures2020
Ray Follmer: facebook.com/raymond.follmer
YouTube updates: goo.gl/QHLywy
Facebook: facebook.com/groups/735495133305302/
All is public if folks weren’t too lazy to look for information before publishing. Nothing hidden from those too lazy to do any research (Ozedit: Offtopic derail attempts removed)
Yeah, except none of those links are the BitFundZa website.
Instead of hiding information on closed Telegram and Facebook groups, why not just disclose company ownership on the BitFundZa website?
The information is definitely hidden from the public, despite your protestations.
Except none of that can be verified via third-party trusted sources or even the company website. Are we supposed to trust random yahoos off the Internet… such as you, FG?
Rumor is that this is coming to an end. Deposits are not going to affiliates right now..
Hmm. Kinda explains why if you ask any questions, Admin bans you instantly.
They were supposed to bring in thousands and thousands lol, more like 1 or 2 people guess they have a pocket pool tournament going on instead.
Never question the almighty. Just say seig heil Mein Fuhrer and salute haha.
Oh yeah and this costed $60000 to, did this site lmao. The script can be purchased for $50.
I guess you don’t have to trust random yahoos if the videos were viewed that the owners claim ownership. Or maybe ask them so they can have their 15 minutes of fame here, that’s a novel idea.
While it’s a valid point that the groups are closed and people have to ask to join and anyone is accepted, it’s not exactly in depth investigative reporting to say the owners are not know when they’ll proudly claim ownership of their thingy everywhere but the site. =)
Just thought it was funny that Bitfudza even came up on the radar but (Ozedit: Offtopic derail attempt removed)
Yep. So in other words, information about BitFundZA ownership is being intentionally hidden from the public. This is an MLM compliance red-flag.
Don’t confuse a review with investigative reporting. BehindMLM publishes both.
I intentionally approach a review as a member of the general public, because that’s the position 99.9% of our readers are in.
If BitFundZA’s owners are hiding their ownership of the company, it’s not incorrect to report that as fact.
Bitfundza is everything they said the was. The owners are very transparent and are available at a moment notice.
I was shocked to see someone slamming this company. I have learned much about bitcoin from them.
This is peer to peer so they dont get any admin fees. Donations have been flowing to me and any complications were handled with professionalism!
I’m proud to have a spot in Bitfundza.
No it isn’t, because nowhere on the BitFundZA website does the company acknowledge it’s a cash gifting scam.
No they aren’t. BitFundZA’s owners don’t even acknowledge ownership of the company on the BitFundZA website.
But through pre-loaded admin positions, they’re guaranteed to receive the majority of gifting payments company-wide. Same old matrix gifting scam.
You mean money you’re stealing from people who join after you. Donations my ass.
Evidently being the scammer you are, I bet you are.
Thanks for the clarification Melvin. You are a gifting scammer!
Why do people post such crap… Bitfundza takes mo money from anyone.. This is person to person donations..
There is Not any one person on the top making all the money.. The owners do not hide in any way.. They do live webinars and trainings many times a week, very transparent.
I have learned so much with their crypto currency trainings that is part of Bitfundzas platfom. Yes site did go dow for reapirs … yes few donations sent wrong.. But any donations sent wrong were refunded AND that person given a FREE renewal for 30 days..
SHAME SHAME SHAME on all of you for bashing Bitfundza. Why dont you hop on one their live webinars and trainings and feel and see the owners passion to truly help change everyones finacial future.
1. The owners of BitFundZA receive the majority of funds gifted between participants through pre-loaded admin positions, same as all the other matrix gifting scams.
2. Donations aren’t made with the expectation of receiving donations from those who join after you. That’s cash gifting.
Own your thievery and cut the holier than thou bullshit.
Yep I am one of the owners . This is crowdfunding Peer to Peer. No your correct no lotion Potions or Pills. Strictly Cryptocurrency eduction from my Partner Max Garza.
Do a little research and you will find out that Max is an expert in advising ICOs. Why did we pick a crowdfunding platform. Because Mad and I got tired of MLM thieves.
No we callect no admin fees . We collect know fees at all. We build the platform just like everyone else.
How rip me off program are out there? BitFundza you send your first donation of 0.0035 about 24 dollars or less depending on Bitcoins value at the time of donation.
The first person you refer or the happens to fall under you. You get your 0.0035 donation back.
Yep one person that’s it you have your Bitcoin back. The rest of the way is all from donation and no more out of pocket.
You decide yourself if you wish to continue. 24 dollars in Bitcoin gets you training and very good Cryptocurrency training.
So like normal Behind MLM up to there old tricks. Not getting the real facts first. Our program was designed from the bottom up. Our code we own and can use it for other projects.
I love the comment you can buy our program for 50 bucks 🙂 Well I guarantee it will cost you thousands and thousands of dollars.
Although I would like to say much I will leave it at this . Gofundme , Kickstarter. They strictly help the guy at the top.
Which both are great programs to help people in need or get a product out there. We do the same help each person that Joins BitFundza from around the world. We give the knowledge and training in the new digital world.
But been I have been around this MLM, affiliate , gifting for a long time. Everything is always a scam to losers that can’t make it.
So they would rather bad mouth you. It’s ok BitFundza is not going anywhere 🙂
As in any program if you join and sit on your ass… well sorry to say but that is what you will get paid for.. sitting on your ass… not much money to be made that way.
@James, “by sitting on your ass”, do you mean not recruiting?
Thanks, I don’t need more brainwashing (like you seems do). All that commercials all around are pretty enough.
What do you mean by “…change everyones finacial future”?
Is it – couple of lucky scammers are going to get rich, majority of rest will lose? Do you hope you will be in the first group? Perhaps – but you lose something else (credibility and respect).
Calling it a donation is misleading, James. What do they teach in school over there in Florida that you cannot think critically?
Oh. After seeing the profile picture on your Facebook page, a better question would be when was the last time your psychiatrist adjusted the dosage of your anti-psychotic medications?
Just be clear – you seek to join scams?
Then help people join scams under you!
What are you telling people that lose their money that you help to join you?
Don’t tell me that line that they lost because they “sat on their ass”
It’s not donations if there’s an expectation of return. You’ve been brainwashed with Ponzi Newspeak.
New Mexico had already taken action against gifting circles in the past, FWIW.
NOLINK://www.newsmax.com/Pre-2008/Women-Not-Helping-Women/2001/03/19/id/661063/
@Raymond
Crowdfunding is for legitimate purposes. Fattening the wallets of scammers is not a legitimate purpose.
Cool. Has fuck all to do with scamming people in a gifting scheme though.
So you decided to become thieves and steal money through preloaded admin positions. Finally, some honesty.
Donations don’t qualify you to receive donations from other donors. That’s cash gifting, an illegal scam the world over.
Paying some coders in a third-world country for a matrix script isn’t “designed from the bottom up”.
BitFundZA is no different to the other bitcoin gifting scams that have launched over the past 12 months. In fact if anything, you’re late to the party.
What you attach to a gifting scam is irrelevant.
And there you have it folks; Confessions of an “I don’t give a fuck so long as I can steal your money” admin.
Sign up and lose your money to Raymond Follmer today!
Right, just like all the other bitcoin gifting scams that are still around today.
…oh wait.
I need $20,000. when can I expect that check? I mean, there’s no expectation of payback right? You’re here to help people right?
I see that somebody didn’t read what the term “crowdfunding” means, either, and just allowed themselves to be mislead by a con artist.
Crowdfunding, peer to peer and/or donations used to describe any MLM opportunity = instant scam
I agree fully with you there, Oz.
I wonder what would happen to Raymond’s job at Costco if PHH were to expose him on Realscam? Probably nothing Raymond would appreciate.
Well someone has to stock the shelves at Costco and clean out the cigs butts from the urinals and change the urinal mints. lol.
@Yu Blueit – My guess is that exposing yourself at Costco is against their policy unless they now have a wholesale perv department…..
As for Raymond’s likely concern – unlikely to have any at all since that was pre-Bitfundza script buying day that was not published in the Costco weekly special.
Did a couple no-name marketers that bought a script find themselves getting attention at Realscam too?
Well, Bitfundza’s alexa numbers have completely cratered. Also of note, 85+% of their web traffic comes from India.
The Reverend Sheila V’Eleos Tabarsi had personally stacked her SVM Global group under her in Bitfundza and later in USI Tech (AFTER the Texas C&D) and now she’s herding her well shorn sheep into into “Ride the LightCoin.”
Interesting enough many of the old Bitfundza social media channels have been repurposed into promoting Ride the LightCoin as well and while they still have too little traffic for Alexa to rank them it looks like 90+% of the web traffic is coming from, you guessed it, India.
If this indicates that Ride the LightCoin is simply a Bitfundza reboot or if it’s just several downline “leaders” all jumping to the same soon to be sinking ship is unclear.
But in the second comment to this topic it was pointed out that Bitfundza was looking to run the same matrix scheme with other altcoins and Ride the LightCoin looks exactly like a LightCoin Bitfundza reboot.
A special note to Reverend Sheila, not only is it immoral and illegal to drag your followers from one scam to another, perching yourself at the top of their pyramid time and again but you also flat out suck at picking profitable scams.
LOL – oh no Alexa rank !! That’s probably very important to those building in chat rooms, social networks, and with internet graffiti – but yes less traffic since the bitfunzda is apparently less funza than doing the same with litecoin to fuel it a bit later.
If people want to join and pay others that’s their prerogative, but don;t want to hear that they are victims of their own laziness if they find others don’t want to do the same to them.
If Sheila V wants to bring her people into it and they understand how it works and that they won’t make anything without working for it for visibility the same as if they put up a GoFundme account – whats the problem? Jealous much?
(Ozedit: Offtopic derail attempts removed)
A cash gifting scheme without new victims is a collapsed one.
Nope. You don’t have the prerogative to participate in financial fraud.
Understanding how crime works doesn’t justify it.
Cash gifting has nothing to do with GoFundMe.
As GlimDropper has pointed out, “Rev” Sheila Tabarsi has pulled her plug on enthusiastically promoting this SCAM to her “250 active members”.
No mention of refunding all of the referral fees that she collected by insisting they all sign up under her link.
behindmlm.com/mlm-reviews/svm-global-initiative-review-matrix-recruitment-poverty/#comment-397952
You know what they say about the status of a “program” when the biggest pimps bail out …
SD