Social Profimatic Review: 8% daily bitcoin/litecoin Ponzi scheme
Social Profimatic provide no information on their website about who owns or runs the business.
The Social Profitmatic website domain (“socialprofitmatic.com”) was privately registered on February 18th, 2018.
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.
Social Profimatic Products
Social Profimatic has no retailable products or services, with affiliates only able to market Social Profimatic affiliate membership itself.
The Social Profimatic Compensation Plan
Social Profimatic affiliates invest $10 or more in bitcoin and/or litecoin on the promise of an 8% daily ROI.
There doesn’t appear to be an investment limit.
Social Profimatic pay referral commissions on invested funds down two levels of recruitment (unilevel):
- 10% on level 1 (personally recruited affiliates) and
- 3% on level 2
Joining Social Profimatic
Social Profimatic affiliate membership is free, however free affiliates can only earn referral commissions.
Full participation in the Social Profimatic MLM opportunity requires a minimum $10 investment in bitcoin or litecoin.
Social Profimatic claim to generate external ROI revenue through ‘an extremely profitable secondary business‘.
For the last 8 years, we’ve developed a massive inventory of Social Media assets, profiles, and other social inventory that our system holds or purchases at wholesale that can be sold to business owners on demand.
If the above is to be believed, Social Profimatic’s secondary business is capable of sustaining itself and generating annual returns in excess of 3000% with compounding.
This claim fails the Ponzi logic test.
If Social Profimatic’s anonymous owners actually already had an eight year old “extremely profitable business”, they’d have no reason to be soliciting investment from randoms over the internet.
That leaves new investment as the sole verifiable source of revenue entering Social Profimatic, and from there’s it’s the same old Ponzi story.
Gullible investors hand over cryptocurrency to Social Profimatic’s owners.
ROIs are paid out until new investment dries up or the owners think they’re sitting on enough to do a runner.
Social Profimatic then collapses, with Ponzi math guaranteeing the majority of investors lose money.
Update 19th November 2021 – US authorities have identified the owner of Social Profimatic as Ryan Ginster, a California resident.