Simple Bit Matrix Review: 2×7 matrix bitcoin gifting scheme
Simple Bit Matrix provide no information on their website about who owns or runs the business.
The Simple Bit Matrix website domain (“simplebitmatrix.com”) was privately registered on June 22nd, 2017.
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.
Simple Bit Matrix Products
Simple Bit Matrix has no retailable products or services, with affiliates only able to market Simple Bit Matrix affiliate membership itself.
The Simple Bit Matrix Compensation Plan
Simple Bit Matrix affiliates gift bitcoin to each other via a 2×7 matrix.
A 2×7 matrix places a Simple Bit Matrix affiliate at the top of a matrix, with two positions directly under them:
These two positions make up 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 seven of the matrix are generated in the same manner, with each new level housing twice as many positions as the previous level.
A Simple Bit Matrix affiliate signs up and gifts 0.0006 BTC to an existing affiliate.
This payment in turn qualifies them to receive 0.0006 BTC from two subsequently recruited affiliates.
The other six levels of the Simple Bit Matrix operate in the same manner, each requiring a gifting payment made to qualify to receive payments from other affiliates.
- level 1 – gift 0.0006 BTC to an existing Simple Bit Matrix affiliate and receive 0.0006 BTC from two subsequently recruited affiliates
- level 2 – gift 0.001 BTC and receive 0.001 BTC from four affiliates
- level 3 – gift 0.002 BTC and receive 0.002 BTC from eight affiliates
- level 4 – gift 0.008 BTC and receive 0.008 BTC from sixteen affiliates
- level 5 – gift 0.05 BTC and receive 0.05 BTC from thirty-two affiliates
- level 6 – gift 0.6 BTC and receive 0.6 BTC from sixty-four affiliates
- level 7 – gift 2 BTC and receive 2 BTC from one hundred and twenty-eight affiliates
Joining Simple Bit Matrix
Simple Bit Matrix affiliate membership is tied to a 0.0006 BTC gifting payment.
As the name suggests, Simple Bit Matrix is a simple enough bitcoin gifting scheme.
New affiliates sign up, gift bitcoin to existing Simple Bit Matrix affiliates and then proceed to steal money from those who join after them.
On the raw numbers side of things one 0.0006 BTC gifting payment generates a potential 293 BTC ROI.
To put that into perspective, just one 0.0006 BTC gifting payment requires 488,333 0.0006 BTC payments made after it.
Those 488,333 payments all require another 488,333 to fill their 2×7 matrix positions and it continues to get even more ridiculous from there.
When affiliate recruitment inevitably dries up and Simple Bit Matrix collapses, the use of bitcoin means victim fund recovery will be non-existent.
Are There Any Refunds On Positions Purchase?
Your Positions purchases are NON-REFUNDABLE.
What that means for you as a prospective affiliate is, unless you’re the anonymous admin holding one or more pre-loaded positions, you’re going to lose money.