Bitlocity: Cryptocurrency Pyramid Scheme Disguised as Education
Author: Clive Burkinshaw
Bitlocity: More Like Bit Loss City
βIf it sounds too good to be true, it probably is.β If Iβve heard that once, Iβve heard it a thousand times β and yet, I still walked straight into the maze of convincing words used to lead the gullible astray. I say that fully owning my part in it. I made the choice, and yes β it was too good to be true.
So, what exactly is Bitlocity⦠and what is it really about?
What Bitlocity Claims to Be
From their website:
We are a group of developers and educators on a mission to share our knowledge with the world via BitLocity. BitLocity is an educational technology platform designed to educate people worldwide about blockchain technology and its potential impact on their daily lives…
BitLocity is the worldβs first all-in-one decentralized blockchain educational platform to offer a rewards program combining blockchain technology, peer-to-peer rewards, education, smart contract tech, and crowdfunding.
Sounds impressive, doesnβt it?
They market this “platform” with all the heroic language you’d expect:
It’s βfor the little guyβ whoβs financially struggling
Itβs βfor the middle guyβ who wants to build a team
Itβs βfor the go-gettersβ β the leaders β whoβll multiply rewards
And all of it is supposedly built to educate people about blockchain while helping them earn at the same time.
But hereβs what they donβt tell you upfront.
The Red Flags They Donβt Mention
You must first pay a $25 registration fee, then pay another $25 to unlock the βInfinity Lineβ level.
From there, each level increases in $25 increments.
All payments must be made in Bitcoin β exact amounts only.
If you overpay or underpay, the Bitcoin is lost, and you must send it again.
This happened to us⦠and many others we know personally.
The registration fee is annual.
If you donβt renew, any leftover Bitcoin stays with them. No warning.
They pitch the Infinity Line like itβs a magical income stream β earning for you even if you do nothing. And many of us bought into that dream. We thought, βFinally! A break β especially after COVID hit so hard.β
When the Mask Started Slipping…
From day one, we ran into issues.
Multiple support tickets submitted β no replies, ever.
They posted flashy videos trying to calm the crowds, but none of their promises came true.
Eventually, they released a video where one of the Bitlocity team smugly said, βItβs not magic, itβs maths.β
He claimed the blockchain-powered algorithm just needed time. He even had the nerve to say we should be thankful for a $25 reward, since βthatβs more than a bank would give you.β
Seriously?
Things Got Worse
Bitlocity began targeting women and senior pastors β why not fleece the flock too, right?
They turned off comments on all social media and YouTube channels.
Fake names and aliases were used for key people, and team members were referred to only as βMr. Aβ, βMr. Bβ, etc.
Even if you do get a reward (a big IF), the withdrawal fee is higher than most exchanges, and it takes 2 days to process. In many cases, the fee is more than the reward itself.
Lesson Learned
These guys found a sneaky way to get free Bitcoin from unsuspecting users.
Theyβre not done fleecing people β and theyβre giving cryptocurrency a bad name in the process.
If youβre interested in crypto, buy your own Bitcoin and store it safely in a digital wallet (like Coinomi). Youβll be much better off, and you wonβt be feeding scammers like Bitlocity.
Everything they claim to βteachβ is already available for free online β in better detail and with no buy-in needed.
Final Word
π¨ Beware of Bitlocity. Steer clear. Educate yourself.
They donβt deserve your time, your energy, or your Bitcoin.
Watch this video put together by Bitlocity for a full dose of the “scheme”:
Want to See More Scams Like This?
Unfortunately, Bitlocity isnβt the only wolf in sheepβs clothing. Over the years, weβve come across many other schemes, scams, and shady setups dressed up to look like golden opportunities. If youβd like to see more real-life examples and honest breakdowns, head over to our Warnings section. We share all the details to help families like yours avoid costly mistakes and stay one step ahead of the con artists.
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