BasicBitParameter is a nasty browser extension that can attach itself to the Chrome browser even on Mac systems. The goal of the application is to then establish control over the browser and modify its settings to promote a dubious address. This behavior classifies BasicBitParamater as a browser hijacker. It is extremely unlikely that users installed this extension on their Macs willingly. After all, browser hijackers are known for spreading via deceptive tactics that hide their installation process from the attention of the user, justifying their classification as PUPs (Potentially Unwanted Programs).
Once inside the Mac, BasicBitParameter will lock certain Chrome settings. These could include the homepage, new page, and the default search engine. The PUP will then prevent users from making any further changes to the select settings. Changing or creating new Chrome profiles will not work either as they will all be affected by the browser hijacker.
PUPs such as BasicBitParameter are mostly used as vehicles for the promotion of fake search engines. These engines lack the ability to produce results on their own and instead redirect the user's search queries to a legitimate engine such as Yahoo, Bing or Chrome. However, injected into the list of show results can be multiple sponsored advertisements that may not even meet the specific search terms.
To get rid of BasicBitParameter, try using a professional anti-malware solution. Trying to remove the extension manually could result in some of the PUPs components remaining on the system. It is possible entirely that the unwanted application will then be restored completely and the whole process will have to be repeated all over again.