Waszupp is based on MLM principles and is basically a pyramid scheme, meaning that each person must find three others to sign up in order to qualify to receive donations from that down-line. I think people are getting weary of these types of constructs because I find it difficult to find others to sign up. Also their website is down at the moment because they are upgrading their systems; it's not yet launched publicly. Other than that, I really like the idea behind it all, to build a charity network; and it is using bitcoin. The cost to entry is only $35 in bitcoin, of which the majority goes to charitable projects (assuming that all participants use the money they receive to help others), so I feel there is nothing to loose.
I still don't know what to think of this initiative. I have my doubts, so please proceed with caution.
What are your doubts?
Waszupp is based on MLM principles and is basically a pyramid scheme, meaning that each person must find three others to sign up in order to qualify to receive donations from that down-line. I think people are getting weary of these types of constructs because I find it difficult to find others to sign up. Also their website is down at the moment because they are upgrading their systems; it's not yet launched publicly. Other than that, I really like the idea behind it all, to build a charity network; and it is using bitcoin. The cost to entry is only $35 in bitcoin, of which the majority goes to charitable projects (assuming that all participants use the money they receive to help others), so I feel there is nothing to loose.