Smart Contracts used to distribute ETH

[Sóls]

Hi, I just have a few questions and a possible proposal.
First off, I want to start by asking you, the members of this forum, what you think about the idea presented on doubleway . io (all together)
they are partnered with another system, crytohands, and they describe the system to work as follows:
"CryptoHands is the first ray of light to mark the beginning of a new industry and the first risk-free blockchain project in history. For the first time, not a single person in the world can affect the operation of the System. There is no company or board of directors that can block a participant's account or change the terms and conditions of remuneration. Business and the entire network for the first time belong to the participant, not the company. And the funds on a decentralized wallet are also controlled for the first time by the participant himself, and not by the bank, payment system or the state."


Now, the idea is pretty simple, step 1:
To Sign up and to get the 1st level in the System just send 0.08 ETH to Your upline every two months. And the first person came after You will bring this funds back to you, every two months as well. In fact the first transaction is the Sign up. All other transfers are made at the expense of already earned funds.

step 2:
SIGN IN TO THE ACCOUNT, using only the Ethereum wallet number (without password).
The password is not needed, since your account is in a smart contract, and not on the site. Therefore, your account cannot be blocked or deleted from the System even by the site administration. And your Ethereum wallet can not be hacked or changed to another.

step 3:
There are three ways to get referrals:
1) Attract referrals to your structure in DOUBLEWAY.
2) Get referrals from your uplines by "overflows" (as programmed in the smart contract).
3) Wait until the system will bring you free referrals by itself.
4) Your referrals from CRYPTOHANDS, will atomatically become Your referrals in DOUBLEWAY.

step 4:
Receive automatic transactions from smart contract directly on your Ethereum wallet.
According to the tabel below, on the 1st level you are transferred 0.16 ETH, on the 2nd level - 0.64 ETH, and on the 3rd level - 2.56 ETH. (8 levels in total, 3500 ETH income per month, 40000 ETH income per year).
No need to accept transactions or request payments. The funds directly come to your wallet.

step 5:
If you have more than 3500 ETH and 510 anonymous referrals (figures are given as an example of a result and are not a prerequisite). What to do next? It may be repeated every two months, retaining a structure. And get the same amount of income every two months, collected by all the time in the system. And the FEWER people left in your structure, the MORE your income is. Your inactive and dropped out referrals - a "door", to all their referrals of the same line, in case of their inactivity.


---- now, this seems pretty interesting, I, myself, have already started and it all seems pretty legit. What are the downsides? is this actually this good? want to know more opinions, i cant find any downside or any counterpart.

In case anyone is interested, feel free to let me know, ill happily give you my address for you to join on my matrix which is growing quite exponentially