www.doublermasters.com

[ycchen]

The owner Vikas was (still is) owners of several failed matrix, e.g. cashocycling.com. Now, he is starting a new doubler scam. It claim to have 1400 members and made $160,000 in just 2-3 days. haha... who would believe this kind of bs?

This scam will go down like a rocket. I don't think it will survive 30 days unless he kills the forum.

http://www.doublemasters.com/forum/viewtopic.php?t=96

Posted: Wed Oct 20, 2004 3:13 pm Post subject: Double Masters Important Update

Double Masters Update

This Update will cover the following topics:

1) Successful Launch
2) Withdrawals and Profile
3) Stormpay Payments
4) Support System

*********************************************

Firstly here are some of the vital program stats:

We have 1400+ members in the program right now. On the morning of the launch we had only 650 members. So the membership has more than doubled in just 2 days time.

Members have bought positions worth more than $160,000 in just 1 and a half day. This is incredible! If you have not yet done so, then please take part in this wonderful opportunity. Read what members are saying:
http://www.doublemasters.com/alltestimonials.php . You can also submit your own Testimonial here:
http://www.doublemasters.com/submittest.php

1.) Successful Launch

We had a successful smooth launch on Monday night. Hundreds of positions were bought by the members. Unlike other doublers, Double Masters site was running very smoothly even when members were trying to purchase positions all at one time, thanks to our dedicated server which is capable of handling more than this.

2) Withdrawals and Profile

We have processed all the withdrawal requests placed by 19th october midnight. Withdrawals received on 20th, today, will be processed by midnight today.

Members please fill in your payment processor info in the profile. Also remember to enter your current password in the profile for any changes to take place. For members, who placed withdrawal requests without filling out their Payment processor details, their withdrawals will be reversed, means that amount will be refunded back to your Double Masters account and the withdrawal request will be cancelled. You can fill in your payment processor details and place a withdrawal request again.

You can also change the auto-reinvestment percentage in the profile upto 100% . Make use of this feature folks.

3.) Stormpay Payments

Please remember that all stormpay purchases are verified manually, so you may not see them instantly after your purchase, but rest assured, they will appear in the order they(Stormpay payments) were received. We have approved almost 90% of the Stormpay transactions in less than an hour which is as good as real time purchasing. We are doing this to protect ourselves as well as the members from the instances of frauds and chargebacks which other programs are facing.

If you bought a position from an unverified account, then your payment will be rejected and refunded. Folks please get your account verified or certified to take part in this once in a lifetime opportunity.

4.) Support System

We have a support staff in place which will be in your service 24/7. For any kind of support queries please submit a support ticket at
http://www.doublemasters.com/contactus.php or email us directly at admin@doublemasters.com. We also have a Forum in place where you can talk to your fellow members. More than 75% of support questions we receive are already answered in the forum. So please read the forum before placing a support ticket. Take time to join the forum at
http://www.doublemasters.com/forum

Regards,
Vikas Agarwal
Double Masters Admin

[ycchen]

Is doubler a pyramid/ponzi scheme?

The answer is the fine print at the bottom of their homepage. http://www.doublemasters.com/index.php

Disclaimer: Your Positions in the system will continue to Double as long as members after you continue to purchase positions in the system, or members continue to reinvest their earnings paid to them from the system to purchase more positions. Double Masters needs this cash flow from the members for the system to work. Double Masters will never be closed down because of a management decision.

[ycchen]

Let's see How it works?

Suppose A buys a position for $100. Out of that $100, $10 goes to the Sponsor and $10 to the Admin.

So Now we have $80 left in the Money pool. Then again lets say B buys a position of $200. Out of that $200, $20 goes to the Sponsor and $20 to the Admin.

So now if we add it, we have $240 in the Money pool which is good enough to double the $100 position for A. But 50% of the money will be auto-reinvested into the system, out of which 10% goes to the Sponsor and 10% to the Admin.

So Now we will have $120 left in the Money pool and this process will go on and on..

I am not sure who invented doubler scheme, a different kind of pyramid/ponzi scheme, that is worst than straight-line matrix.

Did you notice that the owner actually cash in multiple times on the exisiting money she scammed? Remember, it is required that you reinvest 50% of your cycled money, and the owner charge 10% on that reinvestment again. Everytime you cycle, the owner charge extra 10% off the pool of money.

This is a very greedy ponzi/pyramid scheme. Only VERY few people will get paid at all.

Some has questioned the ranking of the member, which is kept in the black box. I think this is what Vikas has in his mind about the ranking. He will most likely put the members will smaller investments, e.g. less than $250 in the front position, and big investor $5000 at the bottom. In this way, he can easily use the $5000 to pay as many small investor as possible and collect many testimonials in a very short time. Let see if we can see a testimonial of a big investor. If so, it is most likely to be a fake one.

After 30 days when too many complaints on the forum about the delay in "doubling", he will close down and run away with all the money. What a big scam! :(

[ycchen]

I just visited a dead doubler. Their latest update is on October 27, 2004, one day after my last post. This is a typical outcome of a ponzi/pyramid scam.

Even Vikas abundans his own doubler scam. Here is what he had to say on his other failed matrix (cashocycling.com).

http://www.cashocycling.com/newforum/viewtopic.php?t=395

In case, if you are looking for an income opportunity then I would recommend WA360 Group and 8 Day Doubler. Most of you know about WA360 GROUP. Its a doubler which pays out in 7 days whereas 8 Day doubler(as the name suggests) pays out in 8 days. Use this link to join 8 day Doubler.

Nevertheless, I applaud his effort of refunding everyone on his two failed matrices! :)