Du It Bitcoin Network Review: 500% ROI “crypto e-training” scheme
Du It Bitcoin Network operate in the MLM cryptocurrency niche. The company names Dwayne Golden as founder and CEO.
A corporate address in Medellín, Colombia is provided on the Du It Bitcoin Network website.
According to Golden’s Facebook page he’s based out of Pennsylvania in the US, so it appears Du It Bitcoin Network exists in Colombia in name only.
Dwayne Golden first appeared on BehindMLM as one of the admins behind Blue Bird Bids.
In 2014 Golden re-emerged as CEO of Ingreso Cybernetico, a recruitment-based pyramid scheme.
Golden went on to launch 1×2 Marketing Suite in 2016, a recruitment feeder for Ingreso Cybernetico.
Alexa traffic estimates for the Ingreso Cybernetico website reveal a sharp decline in activity from June, 2017.
According to Ari Maccabi, Golden might also have been involved in Xtreme Coin last year.
Xtreme Coin was a short-lived Ponzi scheme that has since collapsed.
If he was involved, Xtreme Coin would mark Golden’s first foray into the MLM cryptocurrency niche.
Read on for a full review of the Du It Bitcoin Network MLM opportunity.
Du It Bitcoin Network Products
Du It Bitcoin Network has no retailable products or services, with affiliates only able to market Du It Bitcoin Network affiliate membership itself.
Du It Bitcoin Network affiliate membership provides access to “cryptocurrency e-training” courses:
- Intro to Cryptocurrency (0.003 BTC investment level)
- How Initial Coin Offerings “ICOs” Can Make You a Fortune in Months (0.03 BTC investment level)
- Intro to Crypto Security & Management, plus physical nano ledger wallet (0.3 BTC investment level)
- How to Start Your Own Bitcoin point of Sale Business From Home, plus “cryptocurrency point of sale machine” (1 BTC investment level)
- How to Start Your Own Bitcoin ATM Business (3 BTC investment level)k
Who authored Du It Bitcoin Network’s e-training courses is not disclosed.
The Du It Bitcoin Network Compensation Plan
Du It Bitcoin Network affiliates buy in across five investment tiers; 0.003 BTC, 0.03 BTC, 0.3 BTC, 1 BTC and 3 BTC.
Once investment has been made in a tier, commissions are paid out until the invested position generates a 500% ROI.
In order to receive the ROI payment, a Du It Bitcoin Network affiliate has to reinvest in a new position at that tier.
ROI revenue is generated through direct and indirect recruitment of new Du It Bitcoin Network affiliates who also invest.
This is tracked via a unilevel compensation structure.
A unilevel compensation structure places an affiliate at the top of a unilevel team, with every personally recruited affiliate placed directly under them (level 1):
If any level 1 affiliates recruit new affiliates, they are placed on level 2 of the original affiliate’s unilevel team.
If any level 2 affiliates recruit new affiliates, they are placed on level 3 and so on and so forth down a theoretical infinite number of levels.
Du It Bitcoin Network cap payable unilevel levels at five, with ROI revenue generated as a percentage of funds invested across each level:
- 40% on level 1 (personally recruited affiliates)
- 9% on level 2
- 2% on levels 3 and 4 and
- 3% on level 5
Note that each Du It Bitcoin Network investment tier operates independently from the rest, with affiliates able to invest in multiple tiers at a time.
Du It Bitcoin Network affiliates who pay 0.3 BTC for Producers Club membership receive increased ROI revenue unilevel team rates:
- 60% on level 1
- 9% on level 2
- 2% on levels 3 and 4
- 3% on level 5
- 6% on level 6 and
- 1% on levels 7 to 11
Recruitment commissions on the 0.3 BTC Producers Club fee are also paid out through the unilevel team down four levels of recruitment:
- 20% on level 1
- 15% on level 2
- 10% on level 3 and
- 5% on level 4
Joining Du It Bitcoin Network
Du It Bitcoin Network affiliate membership is tied to a minimum 0.003 BTC to 3 BTC investment.
Full participation in the Du It Bitcoin Network (investment in every tier) costs 4.333 BTC.
Producers Club qualification costs an additional 0.3 BTC.
Du It Bitcoin Network has no retail offering, meaning at its core affiliate funds are being shuffled around to pay commissions.
The e-training courses are pseudo-compliance, which is best demonstrated by way of affiliates having to reinvest at each tier before they can withdraw the 500% ROI once achieved.
It makes no sense that affiliates would pay over and over again for the same e-training course.
What is actually being purchased is participation in a Du It Bitcoin Network’s five-tier Ponzi scheme.
New investment money flows in and is paid to Du It Bitcoin Network affiliates who have already invested.
The reliance on constant recruitment of new affiliates through the bottom of the company-wide unilevel team adds an additional pyramid layer to the scheme.
The Producers Club meanwhile is “pay to play”. You pay slightly more and get increased ROI revenue commission rates in return.
With respect to the e-training courses, the lack of disclosure regarding who authored the content is your first red flag.
The second is the nature of the content itself, that being a combination of cryptocurrency investment and business advice.
Du It Bitcoin Network operates an investment platform promising a 500% ROI per investment.
This is a security and with Dwayne Golden operating out of the US, requires registration with the SEC.
A search of the SEC’s Edgar database however reveals neither Du It Bitcoin Network or Dwayne Golden are registered to offer securities in the US.
Considering that’s business 101 as far as any investment opportunity goes, I’d be extremely wary about taking advice from a company that can’t even get its own regulatory affairs in order.
As with all Ponzi schemes, Du It Bitcoin Network will collapse once new affiliate recruitment slows down.
No new recruits means no new investment, meaning 500% ROI revenue balances grind to a halt.
In addition to what he makes from being at the top of the company-wide unilevel team, when Du It Bitcoin Network collapses Golden also keeps ROI revenue that has yet to be paid out.
Basic math dictates for a few early investors to make money, the majority of Ponzi investors must lose money.