BitQwik Review: 4×6 matrix gifting scheme
BitQwik provide no information on their website about who owns or runs the business.
The BitQwik website domain (“bitqwik.net”) was privately registered on June 23rd, 2017.
Further research reveals a BitQwik marketing video featured on the BitQwik website is hosted on a YT channel bearing the name “opitimusX”:
This is one of the YT channel name variations used by Sherm Mason, who also goes by “OptimusX”.
Sherm Mason first popped up on BehindMLM’s radar as the admin of Magnetic Builder.
Magnetic Builder was a $29.95 recruitment scheme launched in 2011.
In 2015 Mason (right), launched at least five dubious schemes:
- Paradise Payments (February 2015) – a $2 to $1000 cash gifting scheme
- Magnetic Gratitude (April 2015) – a $580 matrix-based Ponzi scheme
- Summer Fun Matrix (July 2015) – a $22 three-tier Ponzi scheme and
- 3×9 Millionaire Machine (September 2015) – a $3 in, $435 million dollars out Ponzi scheme
- Instant Pay Christmas (November 2015) – a $5 to $800 cash gifting scheme
In 2016 Mason doubled down on his efforts and launched Elite Pay Alliance (matrix-based cash gifting), 5 Dolla Money Lines (pass-up chain-recruitment), Adstraordinary (matrix-based cash gifting) and Cash Rally GPS(Ponzi cycler).
Read on for a full review of the BitQwik MLM opportunity.
BitQwik has no retailable products or services, with affiliates only able to market BitQwik affiliate membership itself.
The BitQwik Compensation Plan
BitQwik affiliates gift bitcoin to each other via a 4×6 matrix.
A 4×6 matrix places an affiliate at the top of a matrix, with four positions directly under them:
These four positions form the first level of the matrix. The second level of the matrix is generated by splitting these four positions into another four positions each (16 positions).
Levels three to six of the matrix are generated in the same manner, with each new level housing four times as many positions as the previous level.
A BitQwik affiliate signs up and gifts $10 in bitcoin to an existing BitQwik affiliate. This payment in turn qualifies the affiliate to receive $10 from four subsequently recruited affiliates.
Additional gifting payments of $3 are required to unlock the remaining five levels of the 4×6 matrix as follows:
- level 1 – gift $10 and receive $10 from four subsequently recruited affiliates
- level 2 – gift $3 and receive $3 from sixteen affiliates
- level 3 – gift another $3 and receive $3 from sixty-four affiliates
- level 4 – gift another $3 and receive $3 from two hundred and fifty-six affiliates
- level 5 – gift another $3 and receive $3 from one thousand and twenty-four affiliates
- level 6 – gift another $3 and receive $3 from four thousand and ninety-six affiliates
Note that all payments within BitQwik (both paid and received) are made in bitcoin.
BitQwik affiliate membership is tied to a $10 in bitcoin gifting payment.
Full participation in the BitQwik income opportunity costs $25.
With nothing marketed to or sold to retail customers, BitQwik is yet another entry into the overcrowded MLM bitcoin gifting niche.
New affiliates sign up, gift money to existing BitQwik affiliates. The only way to recoup their losses is to recruit and scam new BitQwik affiliates themselves.
Sherm Mason has been pumping bitcoin gifting schemes out this year like candy, none of which have lasted more than a few weeks.
A. Of course NOT.
Don’t expect BitQwik to be any different.