Topic: BitClub Network: MLM promises, false testimonials and PoS coin - AVOID - page 11. (Read 62162 times)

And here we go.....it's ClubCoin Time!!!


Check out the math at the end of this

https://youtu.be/QDHerK49lcA

and hurry, you might miss the discount!
 


In other news, the Mining Pool potters along around 3.2 P/hs in total, down from over 4 P/hs, but also less and less of that mining is being done for BitClub's own investors.
Of the 22 blocks mined in the last 17 days, 13 belonged to third parties.
That's ~1/2 a block a day to share amongst Bitcoin Network's thousands of mugs investors: over 60% less than two months ago...

"Hey, have some ClubCoins instead! It's all crypto, Right...?"

What a fucking tool that guy is. Using his little kids to promote a scam. Sick bastard.

A good example of mega MLM shill J. Ryan Conley's real motivation for pushing BitClub Network.
It's got nothing to do with the dust (1,000 day ROI) payments he gets from the mining pools (1, 2 and 3), but that $3500 he paid for the full package was a very good investment for the referral commissions that an MLM pumper like him will get from a scheme like this.

The biggest item on this snap of Mr. Parasite's FaceBook post?
Something called a "Binary Tree Cycle Commission for 1 cycle" ? Sure as hell, got jack shit to do with mining Bitcoin.

I've just noticed those fuckers.
I loved the "We opened a new Icelandic farm, it's the best place for mining !". They must have been getting inspiration from Genesis Mining.

I find you an inspiration good work If only we could tell it to non crypto people

People are too stupid, and they will fall for it unfortunately, people never do due diligence and they pay for it...

Twitter and Facebook know full well what they're being used for, and you could measure the fucks they give on the fingers of one hand.
An example of a professional Facebook MLM and Bitcoin Network pumper shill is J Ryan Conley, who has made himself "CEO" of Team Extreme Worldwide.
He lives the Ponzi scammer dream, into crap MLM like Jeunesse and ZenBodi, a true parasite.
Check him out, troll away  
https://www.facebook.com/Team-Extreme-Worldwide-270229806368428/timeline/

This is the sort of crap he churns out every day





That's MLMspeak for "the flow of mugs is slowing down, time to crank up the rake off".

Many bitcoin newbies are falling for this scam due to
their advertisements on Twitter... poor them if only
twitter knew what they're allowing to be promoted...

How on earth are they going to fool people into thinking there coin is worth the same amount as a BTC? That's worrying, I can imagine people falling for this though.

Hell, I don't think even Josh Ganza could do any worse a job here, it is pretty laughable!

Unfortunately they are, or have been, in substantial numbers, especially in developing countries.
I'm putting together another effort post as soon as I receive some inside information I've been waiting for, especially to do with this scam coin they will shortly be pushing on their members, for when the BTC runs out.

Stay tuned, as they say.

 

I just hope nobody is falling for this crap!

Also there are other clues, there is no such name as "Zara", WTF man


Then this whole phrase is full of grammar errors, probably translated with google translate, they didnt even took the time to find a proper translator.


I know this because I took 3 years of German in high school, especially grammar. This phrase is just full of grammar errors.


Then the Mike Jones name is very common, almost screaming to be fake. And the other women "Amy Albescu" I don't know but I thought the name Amy is an english name, not very common in Eastern europe.

So it smells totally fake at first look.

Heck atleast they took the rapist photo off lol 

OMFG i`m felling of my fucking chair of laughting, my belly hurts already from laughting

They put a fucking indian rapist mugshot as their front cover testimonial guy. They are fucking geniuses 

Hey wait, that's not Mike Schmidt, it's some Dr. in Qatar named Carsten Heinrich 

 

Scammers do not have shame! Posting picture of rapist is sick! .. It's too much!

Thanks for describing everything!

the mumbai raper picture is fantastic LOL 

Great write up. I have filed a complaint with the SEC regarding Bitclub.

Just while waiting for another shoe to drop, especially in the bizarre fraud accusation against EndtheFed https://bitclubnetwork.com/fraud/1/lerdbaron.html , I thought I'd crunch a few numbers in my spare time.

These worldwide MLM/Ponzi schemes can be huge, tens and hundreds of millions of dollars is quite common.
For example, the original promoters of BitClubNetwork came to the notice of the anti scammers over at http://behindmlm.com/companies/bitclub-network-review-zeek-ponzi-veterans-at-it-again/  because they were associated with the promotion of Zeek Rewards, a huge Ponzi with a MLM referral scheme attached.

The Zeek receiver has so far clawed back and redistributed $246,000,000 !!
http://www.zeekrewardsreceivership.com/

This money has been reclaimed from "Net Winners" through the US legal system, so the absolute attraction of anonymous Bitcoin for these sort of scammers is obvious, despite the fact that, according to one of their die hard shills, BitClub Network in actually based in Romania.

 

http://www.moneymakergroup.com/Bitclub-Network-Bitclub-t478335.html

This is according to SecondsOld, a serial MLM pumper who actually dabbles in altcoins on here and has the only BitClub Network signature I have seen.

https://bitcointalksearch.org/user/secondsold-251793

He is currently pumping BitClub and BitBillions GBBG, famous on here as the AussieStriker echo chamber, and for its incredibly anally complicated methods of creating money out of nothing.
https://bitcointalksearch.org/topic/bitbillions-gbbg-147613

He was actually paying new mugs investors $100 cashback to mire themselves in the BitClub web grasp the opportunity of a lifetime and sign up on his downline.

BitClub is the greatest passive opportunity that I have
ever seen in my 15 years of networking, and it pays every single day
like clockwork.
For that reason, I'd love to help you get started earning daily income.

If you join me by becoming an active member of BitClub and
purchase at least one pool share, I will send you $100 via your
choice of Paypal, SolidTrustPay, or Bitcoin to make your membership
FREE!

http://archive.aweber.com/secondsold/9W_5H/h/SecondsOld_com_OFFER_100_.htm

We know that MLM companies make hundreds of millions of dollars (mainly) throughout the world. One of the ways that has been developed to define whether a scheme is legally legit in the States is quite logical: does their income derive from business activity and is the referral scheme an adjunct to that legitimate activity, or is it the reason for the existence of the business in the first place?

Anyway, a bit of number crunching.
For BitClub (or any other investment) to be sustainable and not a Ponzi, it must earn more than it pays out, or it will have to use new incoming investments to pay earlier ones.

So, how much does BCN pay out, and how much does it have coming in?

Because everything is secret and these people tend to make stuff up to suit the situation, these will be called "fag packet" calculations, as in not claiming to be 100% accurate, but, like something jotted on the back of a cigarette packet, hopefully giving an oversight into the situation.

How many investors need paying, and how much?

According to Thomas Morrison on FaceBook, (he probably doesn't exist, but there are a number of other references to similar amounts), BitClub Network has  6000 Bitcoin Educators (sic) earning Bitcoin daily



6000.
Ok, in order to qualify as an "educator", you have to be bought in. Let's assume they count everyone who has paid in, even non referral marks like our EndtheFed in that 6,000.

That's $99 each, plus between $500 minimum and $3500 for all three mining schemes.
Let's ignore the $99 (a handy $600,000 bit of change) and concentrate on the repayments to those 6,000 investors.

All these schemes have important sounding names for levels within them and BCN is no exception, with its "Founders".
A Founder, according to a tweet last november, buys all three of the mining programs for $3500 and 500 Founders had already been found, with another 500 being lined up.
http://patrickpretty.com/2014/11/18/bitclub-network-now-wants-500-new-suckers-participants-exhorted-to-be-patient-because-purported-mining-community-venture-is-like-building-a-home-made-space-ship-to-explore-outer-space/

Let's say for the sake of our fag packet, that they found them.
Let's say, conservatively, that the 6,000 'educators' consist of 1,000 @ $3500 each and the other 5,000 at an average of $1000 each. That would be a good number of $1000's, plus quite a few more all-ins balancing out a few $500's.
With these sort of people, you would be hounded non stop to increase your basic investment (and your sponsor's affiliate earnings). Once you're in and you believe/have convinced yourself/been convinced, the only way is to max out.

That's about $9,000,000. A lot of money to you and me, but small beer in the world of MLM cons. And plenty enough to buy a farm and have big change.

But, in order for it to be legitimate, BCN have to service that debt from exterior i.e. mining profit, not from new investors or they will be a Ponzi..
How much do they need to find?

They have mandatory reinvestment % on the different account values. These % are NOT mining costs, despite BCN halfheartedly once trying to imply that, they are re-investments in extra shares created for the benefit of the investor. They can't be both, if they are sold as a share they cannot be used to pay the bills. Double counting is a MLM speciality.

Let's have a look at LERDBARON aka EndtheFed's account:

 

Ignore the cummulative totals, let's just look at "last 24 hours"... 0.00585 BTC earned on 1.2954 shares.
That's a basic unit of 0.0045 BTC per $500 share per day, but of course 50% minimum of that is mandatorily reinvested, so the actual cash out available to the lowest tier 'miner' is pretty much around their 1000 day implied ROI, or ~0.0022 BTC per day.
The re-investments are totally meaningless until they provide a tangible income, or have a resaleable value. IOU's backed by nothing.

For the sake of this, let's say that each group of 'miners' has stayed at default re-investment %'s, despite being urged to crank it up to the max and re-invest EVERYTHING.
Cash paid per day:
On 2000 x $500 accounts that's 9  BTC @ 50/50%, 4.5  BTC paid out.
On 4000 x $1000  -         -      36 BTC @ 60/40% 21.6 BTC paid out.
On 2000 x $2000  -         -      36 BTC @ 70/30% 25.2 BTC paid out.

A total of 51.2 BTC paid out daily, plus future liability of 28.8 BTC compounded re-investment, added daily. Hold that thought....



So, how much are they earning, then? As in mining income, they have no other source of revenue.

They were trumpeting about having over 2 PH/s and roaring up the mining leader board a while back. Since they have been advertizing their pool, they have recently been showing 4.2 PH/s on their mining stats here
https://bitclubpool.com/index.php?p=stats

But, of the 60 blocks mined since 07/29, 18 of them have been attributed to non BitClub mining interests happyorange and holyscott



which gives BCN about 1.5 blocks per day to themselves, or 37.5 BTC maximum.
That's a gross figure, without any deductions for capital investment, electricity, staff etc. etc. and certainly none for the estimated 30%+ cost of the huge referral system.

They claim to be mining in Iceland. There was an interesting video about Genesis Mining recently, where the CEO shed a bit of light on the cost of producing a Bitcoin in a modern farm in Iceland.

http://uk.businessinsider.com/photos-iceland-bitcoin-mine-genesis-mining-cloud-2015-8

Streng says one Bitcoin costs them $60 in electricity, $130 in fixed costs and leaves about $50 profit for dividend payments to investors @ a price of $240/BTC. Any decrease in price comes straight out of that $50 profit, the other costs are fixed.
In other words, about 20% profit before dividend and tax.

Assuming Streng isn't lying, then the same maths apply to our BCN friends.

A gross revenue of 37.5 BTC per day becomes a nett distributable profit of 7.5 BTC per day after costs. Hold that one too....



LIABILTIES

Cash payments to investors 51.2
Future liabilities                 28.8
Mining Overhead                30.0

INCOME

Gross mining revenue        37.5        



Even if you said all of the re-investment went to paying the existing overheads and infrastructure costs and thus that future shares would be worthless, the conclusion is still inescapable




Minor edit for grammar.








 

Yeah, was about to say the same. You can't use a link that shows just 3 days and claim that encapsulates their entire history (especially when their claims were MORE THAN 3 days ago).