Bitlocity: Cryptocurrency Pyramid Scheme
Bitlocity: Bit Loss City
written by Clive Burkinshaw
“If it sounds too good to be true, it probably is.” If I’ve heard that once I’ve heard it a thousand times, and yet I still entered the maze of well intentioned words used to lead the gullible astray. I say this knowing full well it was my choice to make, and I did it, and it WAS too good to be true…
So, what is Bitlocity all about, and what is it not about?
From the Bitlocity 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.
To our knowledge, BitLocity is the world’s first all-in-one Decentralized Blockchain Educational Platform to offer a Rewards Program which combines Blockchain technology, peer-to-peer rewards, education, smart contract technology, and social network crowdfunding!
All designed to accelerate your understanding of cryptocurrency and its potential impact on your life!
Let me start with what they say it’s all about. They market the “scheme” with the heroic bravado that it’s all about making a way for the “LITTLE GUY” (in other words the poor and financially challenged). They say that it is a way to get a hand up in to the fast changing world of cryptocurrency, by being educated by none other than ‘Bitlocity’.
They add that you will be well versed in the blockchain technology that “threatens to enrich the top earners in society while leaving us little folk behind”. However, it’s also for the “MIDDLE GUY” (the little better off people), who can gather in more “little guys” and build a team under them, and thus multiply their potential rewards, “not income“, they say.
To round it off nicely, it’s also for the “GO-GETTERS” (the leaders in society, the much better off), to steer the whole thing, under the Bitlocity team of course. They too will greatly multiply their rewards from those people below them.
What’s not mentioned up front:
You have to first pay a registration fee of $25 before you can buy in to the first “little guy” level (Infinity Line Level), which is another $25.
From then on the levels increase in $25 increments. All seems straightforward, and going on the hype of the Infinity Line Level, that it earns for you even if you do nothing, it sounds too good to be true, right?
That’s what they lead you to believe it is anyway.
“You can become a force for change in your community and make things happen, instead of being left behind by the …” Who wouldn’t want to be that force?
The first catch is:
All of this has to be paid in Bitcoin and the payment has to be exact. They omit to mention the fluctuating value of Bitcoin, which can change on an hourly basis… As written into their T’s & C’s, if you pay too much or too little, the payment will not be processed and you essentially loose all of that Bitcoin and have to pay again. This happened to us, and many other people that we know personally.
The registration fee is annual, and there is no mention that if not renewed, any Bitcoin left with them, stays with them.
We all thought that this is the break we need, especially since like many others we had been negatively impacted by the COVID situation. We all followed the procedures laid out and joined the “scheme”.
From the get-go it began to backfire!
We all sent in numerous (numerous) emails to their support center, with major issues we were constantly experiencing. Apart from receiving confirmation that our email was received (along with a ticket number), we never to this day received a reply of any kind!
To add insult to injury, they put out videos to appease the peasants’ complaining. But none of what they promised in these videos ever actually happened!
Then, one day the penny dropped for me… You would think it would have already by now, but I’m a hopeless dreamer who believed there might just be people out there who really want to help, not hurt.
After about a month of the so called “Launch Phase“, they brought out a video where one of the Bitlocity team comes on and comes out with this phrase “It’s not magic, it’s maths”… He then goes on to assure us that we probably won’t understand what he’s about to explain, so we should get a pencil and paper, in case we make mistakes, and he’ll do his best to not confuse us too much (wow!).
He then explains the supposed math behind the algorithm that drives the “Infinity Line“, which is incidentally the Blockchain, hoping that we will see it’s just a matter of time before it all works. This was brought up because many (many) people were protesting that they were not seeing any results after weeks of having paid Bitlocity.
He went on further to explain how fortunate we are to even be getting a $25 reward on our buy in, because that is higher interest than a bank would give us (!?). The mind boggles at the level of contempt these guys have for the ordinary folk. I walked away from that video knowing that we had been duped!
Recently I read on their messaging platform, the ‘Business Glu App’, that they are now targeting women and Snr Pastors of Churches. Why not fleece the flock of Christ while you’re at it, right?
These guys have turned off all commenting on all of their media outlets.
>> They use letters of the alphabet to identify members (Mr. A is the main computer programmer), and they create fake names when they deem anonymity to be prudent for their cover.
These guys found a way to get free Bitcoin, and they’re doing it very successfully!
By the look and sounds of things, they’re not over fleecing us yet. To drive the knife in deeper, even if (and that’s a big IF) you get some reward, the fee they charge you to withdraw it is higher than any crypto exchange I’ve found, and higher than the reward as well. It also takes 2 days to get the measly reward.
So, I learned my lesson finally, if it sounds too good to be true, it probably is!
We now put this out there in the hopes that we can save someone from being conned out of their hard earned money.
Just type in “Bitlocity scam” or “is Bitlocity legit?” into your browser and you will see loads of negative reviews that have surfaced about Bitlocity. They were not there when we were introduced to this “business”.
If you do see the benefit in Bitcoin (ie cryptocurrency), NOT BITLOCITY, because there definitely is a benefit, just buy your own Bitcoin and store it in a digital wallet (like Coinomi). You’ll earn way more interest on that than these clowns at ‘Bitlocity’ are promising through their “get us rich scheme”.
Anything they claim to be educational that they provide to their members, is in fact available free on the internet, and in much deeper content and information.
Beware of them! Steer clear! Educate yourself rather.
These guys are essentially giving cryptocurrency, and especially Bitcoin, a very bad name, which is sad, because cryptocurrency has the potential to really improve the current financial system, or scheme, that we are living under.
Watch this video put together by Bitlocity for a full dose of the “scheme”:
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