Mammoth List - A Pyramid Scheme?

There's a website called Mammoth List, which in my opinion, is a legalized, internet pyramid scheme.

Read what the websites asks you to do. The title reads:

"FOR URGENT RELEASE:  A Sure-Fire Method to Build A Mammoth List In Record Time AND Have People Falling All Over Each Other, Eager To Pay
YOU To Add Them To YOUR List!"

And then it goes on to add the following:

 
 

How It works:

When you join MammothList.net you enter your name, email address, and a personal password to access your member's area. An email is then sent to you immediately with a validation link in it. You must click on that link to validate your email address. Then you can login to Mammoth List. The first time you will find a list of 5 names at the bottom of the page. At the top you will see your account balance is $0.00. Under that is a Deposit Funds button. You will need to deposit $12 ($10 plus a $2 admin fee to help cover payment processor fees and website expenses) first, which will give you a balance of $10. Then you will click on one button to pay all 5 people on your list at one time. Each of those 5 people will receive $2 to their Mammoth List account balance and an email notification telling them they just receive a $2 payment and a new list subscriber.

Once you have paid all 5 people $2, your affiliate page is activated and you are given your own replicated website just like this one to promote.

The person in the #1 position is removed from the list. The rest of the people are moved up one position. Your name is then placed in position #5.

You then go tell everyone you know about MammothList.net and give them your affiliate link and keep telling more people until you get 20 to sign up at your site and send you and the other 4 people $2. If you don't know anyone you can advertise inexpensively until you have your 20. We provide the marketing material and a long list of advertising resources that get proven results. Just don't stop until you have your 20 referrals.

Your 20 referrals will each send $2 to your Mammoth List account. That's $40 for you.

Then your 20 do the same thing until they each have 20. That gives you 400 more people on your list and $800 more in your account.

Then those 400 get 20. Then those 8,000 get 20. By the time your name gets up to position #1, as long as everyone gets their 20 people, you would have over 3.3 Million people on your list, each paying you $2 for the privilege of being on your list. Pull out a calculator. That would mean over $6 Million to you.



Is this a pyramid scheme or what??