What is CryptoTab? An advanced pyramid scheme!
About six months ago, a severe fever was triggered by a bitcoin-mining system using CryptoTab’s Minings in cyberspace, especially social networks. Initially, publishing a post against this stream could have the result of a picture and help it grow further.
But now that the movement of people especially Iranian users has reached its highest point, we decided to share their views on cryptotab. It should be emphasized that all of the following is only the comments of the appraisal team and we will not be held responsible for the user’s conclusions.
What the hell is CryptoTab?!
The official website of this CryptoTab browser is as follows: CryptoTab is a browser and a small volume add-on that mines bitcoin on web browsers.
The core of the system is that users can install browser software or plugin for Google Chrome browser and mine bitcoin while browsing the web.
From some users’ point of view, this is a fantastic idea because it extends the bitcoin mining and distribution, and it emanates from the monopoly of powerful devices, one of the conditions for the decentralization principle in bitcoin.
As we have repeatedly said in various papers, specifically the Bitcoin Mining Education article, Bitcoin’s cost-effective mining in the short term is only possible with ASICs, and mining with conventional CPUs or graphics cards can not be profitable.
Read more: Why bitcoin price can rise in 2018?
So why did people go to Cryptotab? Is the idea of using the CPU for mining is new?
Before Cryptotab, there are a lot of websites offering the idea of mining cryptocurrencies when surfing the web? So what caused the cryptotab to explode?
Cryptotab Pyramid Plan
What crippled the attention of users was the recruitment plan. The crux of the matter was, and fewer people are willing to use fever cryptos for a small income that does not even meet the system’s electricity costs.
In short, the system tells users, are you unhappy with your low income earnings? Invite your friends and get up to seven levels in a pyramid of rewards to bring your friends and friends of your friends to mine bitcoin and achieve high profits.
First of all, let’s give a brief explanation of the pyramid schemes
What is a pyramid scheme?
Suppose a company launches a promising promise of guaranteed and promising profits with massive advertising. The company can offer one or more products without a product.
At the first level, the owner of the company sets the minimum amount for investors to enter. For example, it specifies that customers with a $ 100 monthly payment (or the purchase of a hypothetical product) can be nominated and achieve outstanding profits by bringing new members. The basis of the plan is that the company will take advantage of its profits and provide a guaranteed benefit to its participants. In the first days of the company’s activity, the profits are regularly and accurately paid to the investors. The same thing makes customers familiar with the design to friends and acquaintances.
Bitcoin cloud mining is the most profitable of mining for a long time.
In the end, the plan comes in the form of a saturation due to the lack of a product, which no longer attracts investment. In this way, previous investors will not receive any money and the plan will collapse completely. Pyramid schemes may pay users funds over time, but are basically scams.
Now the cryptotab
Cryptotab is also a pyramid scheme. The product of the CryptoTab pyramid scheme is the mining and it’s browser. Users do not pay money for it, but they install the browser or cryptotab plugin, which makes it very useful to the system, which is the same as selling the product. People also install it and subscribe to the system. After a time when the smaller subsets of the profitability of the plan are dissatisfied, they stop the operation and thus the profits of the higher levels become less and less and they also quit the system, resulting in the collapse of the plan.
It’s also interesting to note that according to the surveys conducted on this site, you will not be able to withdraw from your account if you do not introduce the subset. This also challenges the system’s health.
What if the plan is completely healthy?
By looking at the evidence, it’s a pyramid scheme, and its fever will soon subsist. But it is impossible to assume that if the system is healthy, the roof of the site is too high and the computer processing power of the users is so low that in more than 80 percent of the time users will not be able to withdraw their extracted amounts, and only for a while Free of charge fill the pockets of others.
Read more: is free bitcoin scam or a reality?
This has generated a degree of greed on users that they are willing to lie and do tricks to collect members. One of the characteristics of pyramid schemes is the forced use of lies to recruit members. Most high-income advertising videos from this system are nothing but fake and a small change in the CryptoBot browser’s page code.
The experience of users of this system is interesting in its own way. Often, users who use the system and have many sub-collections have been crying in social medias because of lower profitability than what they claim.
The cryptotab system is likely to be a 100 percent complete pyramid system that will not last, and if the system is healthy, most users will not be able to get remarkable or valuable impressions, yes it will be very small and worthless, and only the pocket of the company and Managers fill up.