Mgccl's Ivory Towerso tired

There are sites pay you to watch ads.
Let's pick bux.to(referral link, so I know how many people actually registered it after reading this) and see how likely it's a scam.

First, every business wants to make money. If bux.to is clearly not making any money, then it must be a scam, or the creator is stupid.

Here are some stats:
1. Every ad user see earns $0.01.
2. Every ad earns bux.to $0.0191.
3. Net profit $0.0091 for bux.to.
The minimal cash out is $50. Most people, will become impatient and leave.
So clearly it is making money. How strange...

Ok, let's turn to it's referral program.
1. Every person you refer click a ad, you earn 0.01 cents, so does he.
2. Net profit -$0.0009 for bux.to

There are some other programs bux.to makes money from. Like premium membership, and buy referrals from Bux.to. Clearly. bux.to will not offer them to you unless they earn more money with theses offers. But just to make this simple, rule out these.

Formula:
N = net profit in 100th of a cent
u = amount of clicks by user who are not referred by anyone.
r = amount of clicks by referred users
p = fraction of clicks never become check because $50 is such a high number, assume p is evenly distributed, so it should be the same for r and u.

Simplifies to

As long as 4.5% of all clicks is not cashed, bux.to have a net profit.
Even if 0% of all clicks is not cashed, r is 10 times larger than u, bux.to still have a net profit.
So, this model explains bux.to can have net profit.
Then why are there many people complaining they never receive check from bux.to?

NON-MATHEMATICAL REASONING starts here.
Since bux.to does pay some(but not all) people, but many days after the request to be paid. I think it's because bux.to overestimated the amount of clicks that will not be cashed, and gone ahead used all the money they earned until someone start to request money from them.

Or, also likely, bux.to just don't want to give people money and it is intended to be a scam.

IMO, you are earning 60*2*0.01 = $1.2 per hour if there is that much ad for you to click on. I think you can do a lot of other things with that time.