Topic: BitClub Network: MLM promises, false testimonials and PoS coin - AVOID - page 6. (Read 62248 times)
October 12, 2017, 08:02:02 PM
Why even bother @owlcatz ................?
October 12, 2017, 06:31:12 AM
bitclub network only ponzi site no real mining
the early launch, every member join use register fee 500 dollar, without investment
if want get return must investment again
the early launch, every member join use register fee 500 dollar, without investment
if want get return must investment again
Nope, REAL mining is involved, and they are one of the largest mining pools around.
http://www.coinpurveyor.com/bitclub-network-one-worlds-largest-bitcoin-mining-pools/
Repurchase mechanism is what keeps the mining contract active in perpetuity, because no mining hardware lasts forever.
To think that you can pay once upfront for the price of an AntMiner S9 and mine for an indefinite period is a folly.
Even with desktops and laptops, you'd have to "reinvest" in new machines to continue using a computer with newer software and better efficiency.
Same with mobile phones. Some people even upgrade or "reinvest" in smartphones twice in a year, like BitClub did when they upgraded twice within a year 2 years ago.
Nowhere are upgrades more critical than in bitcoin mining. And BitClub has upgraded over the years starting with the S3, to the S4, S5, S7 and now the S9.
http://www.coinpurveyor.com/benefits-of-joining-bitclub-network/
The daily payouts from BitClub to every single member never stopped since they began in August 2014.
And the mining and daily payouts will continue to happen regardless about what people say, or think about them.
That still doesn't mean it's not a scam at some level. How much did you pay to be a "Member"? Seriously?
http://kipicommunity.org/bitclub-network-review/
October 11, 2017, 09:29:00 PM
bitclub network only ponzi site no real mining
the early launch, every member join use register fee 500 dollar, without investment
if want get return must investment again
the early launch, every member join use register fee 500 dollar, without investment
if want get return must investment again
Nope, REAL mining is involved, and they are one of the largest mining pools around.
http://www.coinpurveyor.com/bitclub-network-one-worlds-largest-bitcoin-mining-pools/
Repurchase mechanism is what keeps the mining contract active in perpetuity, because no mining hardware lasts forever.
To think that you can pay once upfront for the price of an AntMiner S9 and mine for an indefinite period is a folly.
Even with desktops and laptops, you'd have to "reinvest" in new machines to continue using a computer with newer software and better efficiency.
Same with mobile phones. Some people even upgrade or "reinvest" in smartphones twice in a year, like BitClub did when they upgraded twice within a year 2 years ago.
Nowhere are upgrades more critical than in bitcoin mining. And BitClub has upgraded over the years starting with the S3, to the S4, S5, S7 and now the S9.
http://www.coinpurveyor.com/benefits-of-joining-bitclub-network/
The daily payouts from BitClub to every single member never stopped since they began in August 2014.
And the mining and daily payouts will continue to happen regardless about what people say, or think about them.
April 13, 2017, 05:44:11 PM
"WHAAAAAT? NOBODY out-scams me in Japan!"
April 13, 2017, 03:23:59 AM
April 08, 2017, 10:44:26 PM
April 08, 2017, 12:04:18 AM
bitclub network only ponzi site no real mining
the early launch, every member join use register fee 500 dollar, without investment
if want get return must investment again
the early launch, every member join use register fee 500 dollar, without investment
if want get return must investment again
March 30, 2017, 08:43:14 AM
Have you guys seems this video of Roger deleting his BCN tweet?
https://www.youtube.com/watch?v=K8W1ygDEzHA
https://www.youtube.com/watch?v=K8W1ygDEzHA
December 05, 2016, 04:34:55 PM
Some rather amusing/strange/exit strategy? recent activity.....
Or even to the real one.
And then
Details of Attempted Hack
As stated on our homepage we experienced a security breach on November 25th and for the past 5 days, our team has been pouring over all the records trying to figure out exactly what happened and restore access.
The biggest headache with a hack like this is we have to rebuild everything! Once someone gains this type of access they have a blueprint and they could potentially leave back doors in the code to come back later. So everything needs to be wiped and rebuilt!
This was by far the most targeted and sophisticated hack we have seen. We have reason to believe it was an inside job and have launched a full investigation into the 3rd party who allowed it happen. We cannot disclose any further details at this time because it’s an ongoing investigation now but we do want you to know that our pursuit to find these bad actors will be relentless.
The good news… No member funds were stolen or compromised and everything is exactly how you left it before the breach happened.
There were thousands of fake accounts and invoices created during this window which caused fake commission records and a tangled mess but we were able to roll everything back and restore from multiple back-ups.
It could be possible that we have lumped your invoice in with these fake ones if you paid during this same time frame so if there is an invoice missing or something in question please open a support ticket and provide as much detail as you can so we can handle it quickly.
And then (it always comes in threes), it's clone time (or, if you were really cynical, pose as clone time)...
https://bitcointalksearch.org/topic/--1704438.
Or even to the real one.
And then
Quote from: http://bitclub.com/important-security-update/
Important Security Update
2016-11-29
BitClub News
BitClub Network has been offline due to a security breach that took place on November 25th in the early morning hours. This breach happened because of a suspected Social Engineering attack on a third party provider that we use. We discovered unauthorized access of our system and we estimate a total exposure time of about 7 hours before our security kicked in and locked everything down.
During this time frame many hacks were tried, including an attempt to inject Bitcoin addresses into our invoicing system, creating fake accounts, fake invoices, and more we won’t get into. However, these hacks were not successful!
Our system is very well protected and since we don’t keep any Bitcoin or other currencies on our server there is really nothing to steal. We take extreme measures protecting your Bitcoin so there is never a concern about these funds being compromised.
However, although the monetary damages were low, the headache they have caused is a big one and already it’s required more downtime than we expected. In fact, we will now be bringing the site back online in steps so we can verify all records, and we expect this to happen within the next 24-48 hours.
2016-11-29
BitClub News
BitClub Network has been offline due to a security breach that took place on November 25th in the early morning hours. This breach happened because of a suspected Social Engineering attack on a third party provider that we use. We discovered unauthorized access of our system and we estimate a total exposure time of about 7 hours before our security kicked in and locked everything down.
During this time frame many hacks were tried, including an attempt to inject Bitcoin addresses into our invoicing system, creating fake accounts, fake invoices, and more we won’t get into. However, these hacks were not successful!
Our system is very well protected and since we don’t keep any Bitcoin or other currencies on our server there is really nothing to steal. We take extreme measures protecting your Bitcoin so there is never a concern about these funds being compromised.
However, although the monetary damages were low, the headache they have caused is a big one and already it’s required more downtime than we expected. In fact, we will now be bringing the site back online in steps so we can verify all records, and we expect this to happen within the next 24-48 hours.
Details of Attempted Hack
As stated on our homepage we experienced a security breach on November 25th and for the past 5 days, our team has been pouring over all the records trying to figure out exactly what happened and restore access.
The biggest headache with a hack like this is we have to rebuild everything! Once someone gains this type of access they have a blueprint and they could potentially leave back doors in the code to come back later. So everything needs to be wiped and rebuilt!
This was by far the most targeted and sophisticated hack we have seen. We have reason to believe it was an inside job and have launched a full investigation into the 3rd party who allowed it happen. We cannot disclose any further details at this time because it’s an ongoing investigation now but we do want you to know that our pursuit to find these bad actors will be relentless.
The good news… No member funds were stolen or compromised and everything is exactly how you left it before the breach happened.
There were thousands of fake accounts and invoices created during this window which caused fake commission records and a tangled mess but we were able to roll everything back and restore from multiple back-ups.
It could be possible that we have lumped your invoice in with these fake ones if you paid during this same time frame so if there is an invoice missing or something in question please open a support ticket and provide as much detail as you can so we can handle it quickly.
And then (it always comes in threes), it's clone time (or, if you were really cynical, pose as clone time)...
https://bitcointalksearch.org/topic/--1704438.
Quote
After being the leader of Bitcoin Mining and being successful on our project in mining pool (BitClub Network), we decided to open this unique opportunity for those investors who value their time who want to make quick and high profits. With the growing popularity of our online investment throughout the world, we invite you to join the tens of thousands of BitClub Mining Network customers. The company skillfully combines processes of crypto mining, investments in new mining farms and trading on crypto exchanges. We provide unique investment terms under which your earnings will be between 6% on a daily basis up to 110% in just a week! Primarily, the company's specialists are focused on keeping your financial assets in safety, this allows to associate us with riskless investments that will only provide profit.
November 15, 2016, 04:50:43 AM
Beware of user Montero82
https://bitcointalksearch.org/user/montero82-917511
Looks like a fake account for BitClubNetwork (password reset) who's posting everywhere trying to get suckers to join the ponzi scam.
They're persistent, I'll give them that......
https://bitcointalksearch.org/user/montero82-917511
Looks like a fake account for BitClubNetwork (password reset) who's posting everywhere trying to get suckers to join the ponzi scam.
They're persistent, I'll give them that......
I saw multiple posts promoting Bitclub in both English and French in his post history, nothing else. Tagged him for being an obvious shill for the scam and all those posts were immediately deleted.
looks like he deleted all posts... LOL
November 15, 2016, 02:11:48 AM
Beware of user Montero82
https://bitcointalksearch.org/user/montero82-917511
Looks like a fake account for BitClubNetwork (password reset) who's posting everywhere trying to get suckers to join the ponzi scam.
They're persistent, I'll give them that......
https://bitcointalksearch.org/user/montero82-917511
Looks like a fake account for BitClubNetwork (password reset) who's posting everywhere trying to get suckers to join the ponzi scam.
They're persistent, I'll give them that......
I saw multiple posts promoting Bitclub in both English and French in his post history, nothing else. Tagged him for being an obvious shill for the scam and all those posts were immediately deleted.
November 14, 2016, 05:10:34 PM
Beware of user Montero82
https://bitcointalksearch.org/user/montero82-917511
Looks like a fake account for BitClubNetwork (password reset) who's posting everywhere trying to get suckers to join the ponzi scam.
They're persistent, I'll give them that......
https://bitcointalksearch.org/user/montero82-917511
Looks like a fake account for BitClubNetwork (password reset) who's posting everywhere trying to get suckers to join the ponzi scam.
They're persistent, I'll give them that......
October 18, 2016, 02:45:20 PM
yeah well, ponzi pumpers are like grass hoppers. they move on, looks one scamcoin is still going strong. forget about this shit, it's the past.
Very true, but there's still 1000's of punters locked into contracts, the only escape being if BCN decide to bin them.
Then there's the going nowhere Clubcoin PoS and, of course, the Coinpay platform that's going to take over the world. Sometime soontm .
October 18, 2016, 09:46:45 AM
October 18, 2016, 02:36:14 AM
I know for a fact that they BCN opped the gear to Bitmain gear around 2 month ago since im having my farm on Iceland as well and I was asked if I wanted to buy the used BCN gear by Bitmain. Im pretty sure you are right in your investigation, since some days ago suddenly a lot of PH appeared on KANO pool named Bitfury and LuckyAnt, and it was in the same time BCN pool had a massive drop in PH so BCN/Genesis are using KANO as backup pool.
The only thing I see you are missing is the fact that Bitmain is a part of Genesis and BCN.
The only thing I see you are missing is the fact that Bitmain is a part of Genesis and BCN.
October 17, 2016, 05:49:59 PM
As time goes by and BitClub Network becomes yesterday's news for the MLM pumpers, my suspicion that the operation was only ever a Genesis Mining reseller becomes almost a certainty.
Building on this
Quote
Genesis Mining publicly claim to have an Icelandic mining farm, amongst others. Both Genesis and BCN reference the Verne Global setup.
Genesis Mining give no details of their mining pools.
Genesis Mining, since Spondoolies bit the dust, give no details of what mining equipment they use.
Genesis Mining are getting heavy criticism for reducing cloudmining payments to dust
Genesis Mining give no details of their mining pools.
Genesis Mining, since Spondoolies bit the dust, give no details of what mining equipment they use.
Genesis Mining are getting heavy criticism for reducing cloudmining payments to dust
Genesis get lots of stick on here about declining payments and Bitclub's ROI also just stretches further and further, as evidenced by users
Quote from: Chris 99Bitcoins article
I have invested 540 Euro in BTC. That’s about 90 Euro for the one time fee and another 450 Euro for the small pool. The first few weeks I repurchased 100 % and changed this setting to 50 % in May or so.
Today I have withdraw 25 Euro for the second time. So within 200 days I made 50 Euro, a bit more than 10%. Lets do the math: 50 Euro in 200 days makes 250 Euro in 1000 days. That was simple
In total I have earned 0.28428 BTC and withdraw 0.04748 and 0.045. And of course I lost 0.004 BTC due to the “lower than 2.0 BTC” fee.
Today I have withdraw 25 Euro for the second time. So within 200 days I made 50 Euro, a bit more than 10%. Lets do the math: 50 Euro in 200 days makes 250 Euro in 1000 days. That was simple
In total I have earned 0.28428 BTC and withdraw 0.04748 and 0.045. And of course I lost 0.004 BTC due to the “lower than 2.0 BTC” fee.
Quote from: Max same article
After 200 days I increased my shares similar like Chris. I agree, it should be possible to reach 2 shares at the end of the 1000 days. According to my simulation I have to keep the reinvest on 100% until they reach 1.2. That is because of the compound interest effect. However there will be no profit after 1000 days. The break even is around 1500 days. Assuming same average earnings and similar BTC price.
2 things I learned in the 200 days and through simulation.
1st the mining earnings are constantly declining. They go only up when the market share of Bitclub on the Blockchain increases. But that has been very stable. It only went up significantly when they canceled the 1st share of September 14th 2014 through June 30th pools as mentioned in a comment above.
Since then the earnings have come down to an average level again to about 0.00089 BTC per day for a 500 Dollar pool. The reason why it declines is the market share has stayed stable at about 5 found blocks per day on the Blockchain. At the same time the number of total shares in Bitclub pools increases through constant reinvest of existing members and through selling pools to new members. So the same amount of BTC is divided through more number of shares.
2 things I learned in the 200 days and through simulation.
1st the mining earnings are constantly declining. They go only up when the market share of Bitclub on the Blockchain increases. But that has been very stable. It only went up significantly when they canceled the 1st share of September 14th 2014 through June 30th pools as mentioned in a comment above.
Since then the earnings have come down to an average level again to about 0.00089 BTC per day for a 500 Dollar pool. The reason why it declines is the market share has stayed stable at about 5 found blocks per day on the Blockchain. At the same time the number of total shares in Bitclub pools increases through constant reinvest of existing members and through selling pools to new members. So the same amount of BTC is divided through more number of shares.
To add further
Genesis has a contract cancellation clause allowing termination if maintenance charge exceeds mining income.
BitClub Network are more basic, they just cancel oversold contracts.
Then of course, there's Ethereum mining, started by Genesis at the end of 2015 and, three months later, BitClub offering ETH packages with MLM attached.
And further then, there's the Curious Case of the Super Arbitrage Bot. This of course was openly sold (not sold in the end) as an official BitClub Network/Genesis Mining joint venture, as explained above. Something happened. All of a sudden bullshit excuses from BCN about them being TOO big to operate it properly or smth. Whether or not Genesis are still using this bot on their own account, supposedly have been for three years, is something only they can answer. GLWT.
And the latest coincidence/evidence that BCN are just a Genesis reseller is ZCash mining, Genesis' latest baby. Right up behind them come Bitclub, Zcash mining
"What does it matter," you ask?
"Obviously makes your view that Bitclub are unsustainable look unlikely. If they're "backed" by Genesis, the biggest cloudminer in the world according to themselves, my money should be safe amirite?"
Well no, not really.
Firstly there's no guarantee that Genesis are bomb or market proof. In a mining arms race like we have now, only the biggest will survive and it's unlikely Genesis qualify there. Although if they are using Bitfury gear, their belated announcement that they're finally gearing up with 16nm will at least make Weeks' claims come true, albeit over six months too late.
If Genesis are paying dust to direct contract holders, what chance do investors in a reseller have of making any money, especially when the sales force of that reseller are hiving off probably a third of all new money for themselves, as "commission"?
And what a temptation it must be to keep selling and selling, irrespective if there's nothing profitable left to sell?
That what they do, welcome to MLM.
September 07, 2016, 04:40:30 AM
Yes, you are right im missing my payments. Non of the official e-mails are working any more and [email protected] does not answer.
I was use to 2-3 days delay last year from Bitclubpool, but weeks is a different matter...
I was use to 2-3 days delay last year from Bitclubpool, but weeks is a different matter...
September 07, 2016, 04:12:27 AM
Those MLM pimps desperately looking for new mugs passive income seekers willing to lock in $$$$ for at least eighteen months 
to auto trade with Genesis Mining's (sound of *crickets* from them when asked a simple question) super fantastic arbitrage money making machine are going to be pretty pissed right now.....
to auto trade with Genesis Mining's (sound of *crickets* from them when asked a simple question) super fantastic arbitrage money making machine are going to be pretty pissed right now.....STILL No payment from Bitclubpool. They still owe me 4.57240245 BTC for week 35- 2016 mining at the pool.
August 30, 2016, 11:27:37 AM
if anyone can post any btc addresses from Genesis , I would appreciate it. thanks!
this is my last tx from them. noticed 2 sender addys*, but looks like they (of course) mix the coins ;/, tx's just go back and back dust loops. course im not a pro in btc analytics ;p
https://tradeblock.com/bitcoin/tx/b67f3dc83e8d7056b3fd8155dce76c4e74aee7b5bd1055ee12ad83d1886db373
*1ERAsjBQXMd2hx1JpKPxJfaUpBQv8KTiVh
*1PeMXzkiz1qQpWwNvpccgYp8SpuJAGjPNR
edit; some one of their doge wallets DCPbGvoVJfhENVb8aUkBvZktHgZ4z5SXN6
DB5vZAu7i9nbNyxvfFPrs59GXUzH9rx4eh
again, look heavily mixed ;/
Thank you for this.
So... I traced 1ERAsjBQXMd2hx1JpKPxJfaUpBQv8KTiVh back to these addresses: https://www.walletexplorer.com/wallet/00436115152f383b , which appear to be coming from slushpool.com (?)
I found no trace of BCN in any tx's along the way, however, I did not pore over every one of them, it looks like it's from a valid mining pool at least?
As for 1PeMXzkiz1qQpWwNvpccgYp8SpuJAGjPNR, same thing: https://www.walletexplorer.com/wallet/00436115152f383b
Strangely, looking at BCN's mining address here - https://blockchain.info/address/155fzsEBHy9Ri2bMQ8uuuR3tv1YzcDywd4 - run that through walletexplorer and you will see very few coins being paid out vs. paid in. Further, the coins that do go out, seem to either be being mixed/laundered, and/or sent to other addresses in 25/50/100/1000 BTC chunks which are still unspent outputs. It's quite strange to me, but I have not compared the outputs against a known legitimate pool either.
Thanks, this was just done in a half hour during lunch, let me know if anyone else sees anything strange there.
August 30, 2016, 09:37:21 AM
Thanks for the legendary input
No problem. But after reading up on the latest events here, I'd have to drop a "Thank You!", too. Well written and explanative.
I'm really not a big fan of those guys, and I'm trying my best to warn other users who might fall prey to BCN and anything related.
So, keep up the good work. I'm confident it saves a couple of souls.
.edit:
I liked the part with the connection to Genesis Mining. When I read about BCN and all that Iceland stuff, I always had this "…Iceland… Iceland… I read this somewhere!", but couldn't really figure it out. Makes total sense to me.
Jump to: