Doubleway Review: Ethereum gifting contract scheme
Doubleway provides no information on its website about who owns or runs the business.
Doubleway’s website domain (“doubleway.io”) was privately registered on September 4th, 2019.
There’s a good chance whoever is running Doubleway is based out of South America.
At the time of publication, Alexa cites Colombia (50%), Brazil (12%) and Venezuela (8%) as top sources of traffic to Doubleway’s website.
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.
Doubleway’s Products
Doubleway has no retailable products or services, with affiliates only able to market Doubleway affiliate membership itself.
Doubleway’s Compensation Plan
Newly recruited Doubleway affiliates gift ethereum to existing affiliates via a 2×8 matrix.
A 2×8 matrix places an affiliate at the top of a matrix, with two positions directly under them:
These two positions form the first level of the matrix. The second level of the matrix is generated by splitting these first two positions into another two positions each (4 positions).
Levels three to eight of the matrix are generated in the same manner, with each new level housing twice as many positions as the previous level.
A newly recruited Doubleway affiliate signs up and gifts 0.8 ETH to the affiliate who recruited them.
Once they’ve recruited one affiliate of their own, the affiliate receives a position at the top of a 2×8 matrix.
Positions in the matrix continue to be filled via direct indirect recruitment.
Each matrix level requires an additional gifting payment to unlock.
These payments increase each matrix level as follows:
- level 1 – gift 0.8 ETH and receive 0.8 ETH from two affiliates (0.16 ETH)
- level 2 – gift 0.16 ETH and receive 0.16 ETH from four affiliates (0.64 ETH)
- level 3 – gift 0.32 ETH and receive 0.32 ETH from eight affiliates (2.56 ETH)
- level 4 – gift 0.64 ETH and receive 0.64 ETH from sixteen affiliates (10.24 ETH)
- level 5 – gift 1.28 ETH and receive 1.28 ETH from thirty-two affiliates (40.96 ETH)
- level 6 – gift 2.56 ETH and receive 2.56 ETH from sixty-four affiliates (163.84 ETH)
- level 7 – gift 5.12 ETH and receive 5.12 ETH from one hundred and twenty-eight affiliates
- level 8 – gift 10.24 ETH and receive 10.24 ETH from two hundred and fifty-six affiliates (2621.44 ETH)
Note that these figures are monthly recurring, provided affiliates placed into matrices continue to make gifting payments.
Joining Doubleway
Doubleway affiliate membership is tied to an initial 0.8 ETH gifting payment.
Full participation in Doubleway’s income opportunity costs 21.12 ETH a month.
Conclusion
Doubleway is a simple matrix-based gifting scheme. In place of a matrix script, the company uses an ethereum smart contract.
The math on the back end however is the same.
You sign up, gift ethereum to whoever recruited you. You then get paid as people are either directly or indirectly recruited under you.
Note the following disingenuous marketing provided on Doubleway’s website:
Guarantees
Nobody can close your account, to stop payments or make changes to the system, since the smart contract is loaded into the Ethereum network. It can’t be deleted or changed.
Referrals can be invited without a website and referral links but directly into a smart contract.
Therefore, the DOUBLEWAY System will exist as long as the cryptocurrency exist, and the cryptocurrency will exist as long as the Internet exist.
What they don’t tell you is, like any gifting scheme, constant recruitment is required to keep the scam going.
And even then, you’re still likely to lose money.
The math behind gifting schemes sees most of the money gifted in transferred to whoever is running it.
This occurs through one or more preloaded admin positions.
If you look at payments requires on each level, you’ll notice they increase exponentially.
Thus even though you might receive payments if you get in early enough, more than likely you’ll be in turn passing it up.
These funds are passed up company wide, to the admin position(s) created first.
A few early adopters will make a small cut of what’s left. In order for that to happen though, the majority of Doubleway affiliates have to lose out.
Being a gifting scheme this happens when recruitment inevitably slows down, prompting a collapse.
In level 8 you said you get gifted by 256 person each about 10 ether. First this require those 256 persons pay level 8th.
And secondly how the persons in the middle levels got paid. I mean you are going to get all the gifts from level 8th.
So there is no money for people in your 7th level and they are just paying.
Obviously you don’t receiving gifting payments if affiliates haven’t been placed in your matrix.
Also keep in mind level 8 isn’t just 256 participants, it’s all the participants in all their matrix lower levels too (potentially 100,000s or more of individual participants).
Each level of the matrix is a cycler, when you buy in you are placed into someone else’s matrix and pay them.
Doubleway’s admin sits at the top of the company-wide matrix, collecting the majority of gifted funds.
Can we trust to this site (doubleway) to make matrix and earn some bounce??
Trust has nothing to do with anything.
Math is math. The majority of participants in gifting schemes lose money.
Very good example of blockchain smart contract….
Very good example of them doing what? Automated theft is still theft.
“BUT MUH BLOCKCHAIN!”
“BUT MUH SMART CONTRACT”
“BUT MUH SMART CONTRACT ON MUH BLOCKCHAIN!”
Cani start doing this double way. Can I able to earn money, as per the calculations we still get some money.
Can you tell me exactly how we are going to lose money.
The money you “make” in Doubleway is stolen from other participants.
Whenever the music stops, the majority of Doubleway affiliates will not have recouped their buy-in.
This is the math behind every gifting scam.
You Said like majority of money will goto the creator of contract. How it is possible?
And how can you say that money you “make” in Doubleway is stolen? There are giving to their referrer by understanding the contract.
Because at the end of the day Doubleway uses a matrix. The positions entered first cycle first and these positions receive the most money at the upper tiers.
The admin’s preloaded positions will be the first positions to reach these tiers.
These tiers require thousands of positions bought below them, so the majority of Doubleway affiliate’s matrices will stall long before they get there.
By asking about the flow of money within a gifting scheme you just demonstrated you don’t fully understand them.
Under the guise of “smart contracts” and the usual crypto scam bullshit, this is how your money is stolen.
When will the update take place?.There is so many improvement should take place before its too late.
By the way its an great idea extending of each levels, anyway do consider about extending 1 to 4 levels for one year and up tp 4 to 8 levels is 2 years.
This will make the the members feel its easy and more comfortable. Eventhough the period is longer but the active leaders and members will never wait still the end of renewal date to renew it.
IF possible make it Auto LEVEL UP FOR ALL LEVELS. This is the key point of doubleway.io. I think cryptohands also aware about this.
Remember if you don’t do it now there is a lot of new platforms in the markets and performing better then us.One the other hand the total members left us is more then the new members.
As a market leader i love doubleway ethereum smart contract. For your informations i have been in this field for the past 39 years. Hope my idea will give extra boost for entire team as well as doubleway.
You can twist and turn a matrix any which way you want, Doubleway is still just a cycler Ponzi.
Math is math, the majority of Ponzi investors lose money.
Dear doubleway creator i have bring a few thousand members to this platform, even though the great network marketing leaders they also cant make more profits here according to their efforts. Due to that great number of them refuse to renew it.
By the way they come out with a suggestion that extending of each levels, anyway do consider about extending 1 to 4 levels for one year and up tp 4 to 8 levels is 2 years and auto level up for each levels.
Do not delay please. Day and night we have done our great job please do consider. Thank you.
The reason your victims aren’t making money is because all MLM Ponzi schemes collapse when recruitment dies off.
Trapping money in forced upgrades (that funnel up to preloaded admin accounts) just screws them over harder.
I invested in this shit thing. Money down the drain. Luckily i hadn’t referred anyone else yet.
One fine day i check my wallet and from .105 Ether it’s gone down to .004. I asked my upline and he says some scam is going on and they have taken ether from so many wallets and stopped enrolling new members.
I thank my lucky stars that i did not introduce anybody else to this scam.