I'm just goin' leave this here: https://www.facebook.com/andreas.cerny
I'll see your Andreas Cerny and raise you a https://www.facebook.com/austin.zulauf
Topic: BitClub Network: MLM promises, false testimonials and PoS coin - AVOID - page 9. (Read 62234 times)
February 13, 2016, 06:17:48 PM
I'll see your Andreas Cerny and raise you a https://www.facebook.com/austin.zulauf
February 13, 2016, 05:57:47 PM
I'm just goin' leave this here: https://www.facebook.com/andreas.cerny
February 13, 2016, 05:12:38 PM
I was going to post about the Dirty Dozen, the leading motormouths in the MLM industry who are flocking to BitClub Network like flies around shit.
But I saw this when I visited the behindMLM site, and I just can't stop laughing, it sums up the BCN perfectly
Humble people helping others become millionaires....
But I saw this when I visited the behindMLM site, and I just can't stop laughing, it sums up the BCN perfectly
Humble people helping others become millionaires....
That is just insanely messed up, good job keeping this bumped!
February 13, 2016, 04:55:29 PM
I was going to post about the Dirty Dozen, the leading motormouths in the MLM industry who are flocking to BitClub Network like flies around shit.
But I saw this when I visited the behindMLM site, and I just can't stop laughing, it sums up the BCN perfectly
Humble people helping others become millionaires....
But I saw this when I visited the behindMLM site, and I just can't stop laughing, it sums up the BCN perfectly
Humble people helping others become millionaires....
February 12, 2016, 02:55:58 PM
I'm a member of their closed group. I know it's sh*t, but I'm just kinda quietly watching. Anything I can do?
i would suggest that if you see a user about to take the plunge you anon message them and point to some of these scam threads, especially this one.
It makes me think of the user that had already gone in, then got accused of scamming THEM , (and he was about to go in deeper)
if they don't believe you or hate on you w.e, you did your part
February 12, 2016, 01:54:48 PM
I'm a member of their closed group. I know it's sh*t, but I'm just kinda quietly watching. Anything I can do?
February 11, 2016, 10:06:15 AM
with their $99 signup fee. its already a big turn down..only few risk takers can afford it
February 11, 2016, 10:03:17 AM
Thanks for keeping us up to date with whats going on! I am not at all surprised, give it a few more months and they will vanish like a lot of these other scams.
February 11, 2016, 08:22:46 AM
Thanks for update.
In most Ponzis before the planned profit realization is coming pump and promotional campaign.
I can already hear the snare drum before the explosion. It seems that the BitClub pump should soon reach its peak and collapse.
In most Ponzis before the planned profit realization is coming pump and promotional campaign.
I can already hear the snare drum before the explosion. It seems that the BitClub pump should soon reach its peak and collapse.
February 11, 2016, 08:14:26 AM
Thank you tmfp for all your investigations and bringing this to light
February 10, 2016, 05:19:44 PM
Update on our friends from BitClub Network, those altruists who have taken it on their shoulders to mainstream Bitcoin.
"Mainstream" as in sell contracts in their MLM to anyone who will listen, as the way to riches, Bentleys and early retirement.
This is pretty much second nature to these guys, a cross between the Dirty Dozen and the Sopranos, with a wealth of experience at selling Ponzis, "Great new food/drink opportunites" and other MLMs for years. (Joby [life hack] Weeks's the one with veneered teeth.)
Anyway, today's progress report features a "webinar", an interesting genre of internet communication, usually consisting of a hard sell of screenshots voiced over with a rough script.
This one's no different, presented by Russ Medlin on the subject of Clubcoin, BitClub's PoS future path to riches.
Russ is one of the Dirty Dozen, a larger than life Vegas motormouth poker player with a history of failed ponzis and MLM pumps. Sort of Telly Savalas character.
(You have to be very careful Googling Russ Medlin, as there's another one, very similar looking, with form for CP and stuff)
Here, he explains, in a mix of obsession with details "You gotta make sure your clock is right, you gotta..." and a classic extrapolation fantasy where he expects that Clubcoin will, because discounts on pizza, hit a market cap of
Here ya go, knock yourself out, you can register with a throwaway. I suggest limiting yourself to about 5 minute segments, any longer you may find disorientation setting in.
https://attendee.gotowebinar.com/recording/2200090154334116865
While Clubcoin is taking over the world, BitClub Pool has ~doubled its hash power since Jan 22 and is now hitting 22 PH/s.
Things are a bit volatile at the moment in hashrateland, as big players seem to be positioning themselves for the halving with the other eye on the imminent arrival of 16nm gear, but this equates to about 2.5% of total hash power. (Despite certain shills claiming 6% and pumpers claiming 10/15% 'soon').
That's a lot of hash power; all that is clear is that it is going thru the free of fees BCPpool, it certainly doesn't mean that all of it is being done in the interests of BCN mining contract purchasers.
As I pointed out in a previous post, the majority of blocks found recently by BCPool have been in the name of recognizable third parties: hashangel, btcbilly, holyscott, stevenbtc and so on. Block discovery by bitclub referenced mining has been steadily declining, despite appearances.
There is no direct benefit whatsoever to BitClub Network investors from this activity, it is purely padding for stats to look far more impressive than they really are, to someone who doesn't know what they're looking at (i.e. the majority of BCN's MLM recruited 'investors').
BitClub Pool hash rate is not BitClub Network hash rate.
The latest increase has coincided with blocks being attributed to "bitclubfury940" for the first time. What this means I know not, although I could hazard a guess.
Even if this additional hashing were being done on investors' behalf, a stat from Russ's webinar comes to mind: BCN are now claiming 40,000 subscribers: at a conservative average of $1500 each, that's $60 million in investment to be serviced.
When you think that most (probably 60% historically) of that $60m never got a chance to actually be put to work to earn its living, it just gets poured into the matrix and split up amongst the Dirty Dozen and friends, the huge funding gap previously referenced continues to grow, roughly proportional to the volume of the shilling.
A few things seem to be pointing towards a climax coming up:
The pumping of Clubcon
The "great things happening soon" volume increase
The reduction in BCN payout period from 100 to 60 days (and subsequent FOMO increase in punters)
The increase in "hater" abuse from BCN pumpers
The likely short term lease of extra hash power, similar goal to the Chinese pre NY increase, to max out the next few months till the halving?
And that's when they are in danger of the shit hitting the fan, the halving.
Too small to ride out a possible fall in BTC value, they may have low electric cost for whatever they may mine in Iceland, but they have the huge MLM overhead to service instead.
Fail.
Quote from: Joby Weeks on Reddit
You will see more people brought into using bitcoin through Bitclub than any other entity out there. Its a shame that so many people haven't been able to figure out how to decipher the differences between a ponzi and a legit mlm. Watch as we move to 10% of the network so that we can compete with the Great Fire Wall of China.
"Mainstream" as in sell contracts in their MLM to anyone who will listen, as the way to riches, Bentleys and early retirement.
This is pretty much second nature to these guys, a cross between the Dirty Dozen and the Sopranos, with a wealth of experience at selling Ponzis, "Great new food/drink opportunites" and other MLMs for years. (Joby [life hack] Weeks's the one with veneered teeth.)
Anyway, today's progress report features a "webinar", an interesting genre of internet communication, usually consisting of a hard sell of screenshots voiced over with a rough script.
This one's no different, presented by Russ Medlin on the subject of Clubcoin, BitClub's PoS future path to riches.
Russ is one of the Dirty Dozen, a larger than life Vegas motormouth poker player with a history of failed ponzis and MLM pumps. Sort of Telly Savalas character.
(You have to be very careful Googling Russ Medlin, as there's another one, very similar looking, with form for CP and stuff)
Here, he explains, in a mix of obsession with details "You gotta make sure your clock is right, you gotta..." and a classic extrapolation fantasy where he expects that Clubcoin will, because discounts on pizza, hit a market cap of
$25 BILLION
Here ya go, knock yourself out, you can register with a throwaway. I suggest limiting yourself to about 5 minute segments, any longer you may find disorientation setting in.
https://attendee.gotowebinar.com/recording/2200090154334116865
While Clubcoin is taking over the world, BitClub Pool has ~doubled its hash power since Jan 22 and is now hitting 22 PH/s.
Things are a bit volatile at the moment in hashrateland, as big players seem to be positioning themselves for the halving with the other eye on the imminent arrival of 16nm gear, but this equates to about 2.5% of total hash power. (Despite certain shills claiming 6% and pumpers claiming 10/15% 'soon').
That's a lot of hash power; all that is clear is that it is going thru the free of fees BCPpool, it certainly doesn't mean that all of it is being done in the interests of BCN mining contract purchasers.
As I pointed out in a previous post, the majority of blocks found recently by BCPool have been in the name of recognizable third parties: hashangel, btcbilly, holyscott, stevenbtc and so on. Block discovery by bitclub referenced mining has been steadily declining, despite appearances.
There is no direct benefit whatsoever to BitClub Network investors from this activity, it is purely padding for stats to look far more impressive than they really are, to someone who doesn't know what they're looking at (i.e. the majority of BCN's MLM recruited 'investors').
BitClub Pool hash rate is not BitClub Network hash rate.
The latest increase has coincided with blocks being attributed to "bitclubfury940" for the first time. What this means I know not, although I could hazard a guess.
Even if this additional hashing were being done on investors' behalf, a stat from Russ's webinar comes to mind: BCN are now claiming 40,000 subscribers: at a conservative average of $1500 each, that's $60 million in investment to be serviced.
When you think that most (probably 60% historically) of that $60m never got a chance to actually be put to work to earn its living, it just gets poured into the matrix and split up amongst the Dirty Dozen and friends, the huge funding gap previously referenced continues to grow, roughly proportional to the volume of the shilling.
A few things seem to be pointing towards a climax coming up:
The pumping of Clubcon
The "great things happening soon" volume increase
The reduction in BCN payout period from 100 to 60 days (and subsequent FOMO increase in punters)
The increase in "hater" abuse from BCN pumpers
The likely short term lease of extra hash power, similar goal to the Chinese pre NY increase, to max out the next few months till the halving?
And that's when they are in danger of the shit hitting the fan, the halving.
Too small to ride out a possible fall in BTC value, they may have low electric cost for whatever they may mine in Iceland, but they have the huge MLM overhead to service instead.
Fail.
I shall leave you with this from another of the Dirty Dozen's non stop FB (notice all income is from MLM matrix, none from mining)
February 05, 2016, 12:25:24 PM
January 26, 2016, 07:45:02 PM
They could NOT have picked a better.....um.......what is that, anyway?
Beware dude! Facebook is notorious for collecting facial images!
January 26, 2016, 03:19:30 PM
January 17, 2016, 10:54:02 AM
BCN is a ponzi, in as far as it meets the classic definition: an enterprise that pays more out than it earns by using new investors money to meet old obligations.
That's the "angle", pure fraud
Yes. It is clear to me.
January 17, 2016, 08:01:57 AM
What is there to see?
Quote
Apparently they are now among ten biggest pools
https://blockchain.info/pools?show_adv=no
This is the pool side of the scam site
https://bitclubnetwork.com/home.html
I'm not sure, what is the angle with this. Maybe to add credibility to scam side? Or is the angle the credit card?
https://blockchain.info/pools?show_adv=no
This is the pool side of the scam site
https://bitclubnetwork.com/home.html
I'm not sure, what is the angle with this. Maybe to add credibility to scam side? Or is the angle the credit card?
The "angle" is simple, a few P/hs either bought or leased in mining capacity, then hugely oversold by high pressure marketing to greedy/gullible/stupid people thru an aggressive MLM structure and its parasitical downline.
BCN is a ponzi, in as far as it meets the classic definition: an enterprise that pays more out than it earns by using new investors money to meet old obligations.
That's the "angle", pure fraud.
Credit cards, ATM's etc. etc. are irrelevancies, just a bit of bling to dazzle the suckers, as you say, to add credibility.
As soon as the thousands of suckers are locked in with repayment of their "mining investment" completely at the discretion of BCN (now), the promoters and their MLM foot soldiers cram their snouts in the trough and start changing the rules. The 'investors' will be pressured more and more to reinvest their dividends into more and more shares, or accept Clubcoin in place of (relatively) real repayments in BTC.
Then one day, hey presto, it will be gone and the circus will move on to the next scam.
Their size as a pool is meaningless because it's a gross figure including 3rd parties, attracted by the zero fees deal and wanted by BCN so their shills can send impressive "We are the 2%" type bulletins out to their downlines.
Quote
Right now as it stands BitClub Members are 98-99% of the pool
This is one of the more obvious bare faced lies in their last "news", as a quick look at their pool will show how it is dominated by 3rd parties, the % allocated to rewarding their "investors" declines all the time.
Compare today's ratio (above) of non BCN investor mining (16 to 1!) to that only just over four months ago
The main 3rd party miner then was known as "holyscott" with a couple of accounts. Remember BCN makes absolutely nothing in direct profit from accounts like this.
AAMOI, "holyscott" is http://holybitcoin.com/, a large US retailer of pre-owned mining hardware who obviously doesn't like to see machines sat on shelves doing nothing (and quite right too).
January 14, 2016, 01:36:03 PM
January 05, 2016, 04:16:24 AM
Off on vacation for a couple of weeks so I don't have the time to go thru that shit ^^^ and point out the many obvious contradictions, lies and distortions in it.
Basically, the meaningless "adjustment" from 1000 days of dust to 600 days of dust is a time worn tactic to increase reinvestment levels for existing Kool Aid drinkers and FOMO panic waverers to get with the program, as JR makes clear in his unsubtle way here
Basically, the meaningless "adjustment" from 1000 days of dust to 600 days of dust is a time worn tactic to increase reinvestment levels for existing Kool Aid drinkers and FOMO panic waverers to get with the program, as JR makes clear in his unsubtle way here
December 31, 2015, 09:23:39 PM
Happy New Year to you all!
(apart from the scammers, thieves and liars who infest Bitcoinland. Yeah, BitClub Network, I'm talking about you)
(apart from the scammers, thieves and liars who infest Bitcoinland. Yeah, BitClub Network, I'm talking about you)
Just staggering past the computer in search of more champagne, I saw this:
Quote
BITCLUB NEWS
WOW What An Incredible Year... Recap!
Date: December 31st
2015 was a big year for BitClub Network!
We established ourselves as one of the top mining pools in the world and have laid a solid foundation that will continue to be profitable for years to come. Our main pool which was launched in July of this year has already mined 200 Blocks so far and we earned an additional 2,800 Bitcoin by contributing power to other pools during the year.
In total that's around 7,800 Bitcoin valued at over $3,354,000 USD which was all paid out to BitClub Network Members.
We never expected to mine this much Bitcoin in 2015 but what's even more exciting is our pool is just getting started. We are currently sitting at 7 PH with another 4 PH being plugged in over the next week and we believe 2016 is going to be a huge breakout year for us.
We also continue to reduce our costs and become more efficient as we grow and since we are constantly purchasing the newest hardware and rolling over the older hardware we are projecting much larger margins this year (even with the rising difficulty and growing hash power of the network).
At the rate our membership is growing we should see around 3-4 new PH being plugged in per month and this could end up being more as we start to gain traction in markets like China, India and Korea. In fact, we will most likely be closing our pool to the public sometime in the next few months because we don't need anyone to help supplement our power anymore.
Right now as it stands BitClub Members are 98-99% of the pool anyway so it doesn't make sense to keep it open and share the mining profits with anyone else, even if it's only 1-2%.
Mining Shares Moving from 1,000 days down to 600 days
One thing we are keeping a close on eye on is the rising difficulty rate and the overall hashing power of the Bitcoin network. We don't think anyone predicted the difficulty would jump as high as it did this year starting around 40 Billion in January and shooting up over 103 Billion as of today.
This has put a lot of miners out of business this year and is quickly becoming a problem for anyone on the fence with less than 1% of the network power. Even more surprising over the last 3 months alone the difficulty rate has jumped nearly 50% and it looks to continue higher as large corporations and financial institutions are now jumping into the mix and spending millions to mine!
Because of this trend we are going to be adjusting the amount of days that each share will earn starting January 15th!
Originally we were going to do this tomorrow on the 1st of the year but we are going to wait for the new compensation plan enhancements to go live before making this adjustment. This gives you about two weeks before the shares drop from 1,000 to 600 days.
IMPORTANT!! We want to make it very clear that each share purchased prior to January 15th and ALL PARTIAL shares that are earned from these shares will ALWAYS earn for 1,000 days.
This means all members who own shares right now will not be affected at all by this. All of your partial share repurchases will be good for 1,000 days (forever) as you are grand fathered into the 1,000 days and no change will be made on your mining contract.
In other words, this has no effect on you or your earning potential it only applies to new shares that are purchased after January 15th and all partial shares that come from these shares will be good for 600 days.
Why are we doing this?
Based on our numbers and the growth of the industry we feel it's necessary to make this change now so that in a few years from now the mining shares will still be valuable and not become too diluted.
This 600 day time frame is also more in line with the turnover of our mining equipment. If you were to buy the latest mining equipment today you would have about 1 year or possibly 18 months to earn profit from it. With our model we can extend this by liquidating older machines and rolling into newer models but we think 600 days is about the max before its just too diluted for future shares.
Originally when we set the shares at 1,000 days it was based on the profitability of the equipment at the time (September 2014). Now this is a lot more accurate with today's market and we believe it will benefit everyone in the long run. Also, just to let you know this number could be adjusted again during the year or next year based on what we see happening in the market.
We will always give you plenty of time before making a change like this and again it will NOT affect any current mining shares purchased only the future shares purchased after a change is made!
Thanks for making 2015 an incredible year and we hope you are excited for 2016!
Sincerely,
-BCN Support Team
WOW What An Incredible Year... Recap!
Date: December 31st
2015 was a big year for BitClub Network!
We established ourselves as one of the top mining pools in the world and have laid a solid foundation that will continue to be profitable for years to come. Our main pool which was launched in July of this year has already mined 200 Blocks so far and we earned an additional 2,800 Bitcoin by contributing power to other pools during the year.
In total that's around 7,800 Bitcoin valued at over $3,354,000 USD which was all paid out to BitClub Network Members.
We never expected to mine this much Bitcoin in 2015 but what's even more exciting is our pool is just getting started. We are currently sitting at 7 PH with another 4 PH being plugged in over the next week and we believe 2016 is going to be a huge breakout year for us.
We also continue to reduce our costs and become more efficient as we grow and since we are constantly purchasing the newest hardware and rolling over the older hardware we are projecting much larger margins this year (even with the rising difficulty and growing hash power of the network).
At the rate our membership is growing we should see around 3-4 new PH being plugged in per month and this could end up being more as we start to gain traction in markets like China, India and Korea. In fact, we will most likely be closing our pool to the public sometime in the next few months because we don't need anyone to help supplement our power anymore.
Right now as it stands BitClub Members are 98-99% of the pool anyway so it doesn't make sense to keep it open and share the mining profits with anyone else, even if it's only 1-2%.
Mining Shares Moving from 1,000 days down to 600 days
One thing we are keeping a close on eye on is the rising difficulty rate and the overall hashing power of the Bitcoin network. We don't think anyone predicted the difficulty would jump as high as it did this year starting around 40 Billion in January and shooting up over 103 Billion as of today.
This has put a lot of miners out of business this year and is quickly becoming a problem for anyone on the fence with less than 1% of the network power. Even more surprising over the last 3 months alone the difficulty rate has jumped nearly 50% and it looks to continue higher as large corporations and financial institutions are now jumping into the mix and spending millions to mine!
Because of this trend we are going to be adjusting the amount of days that each share will earn starting January 15th!
Originally we were going to do this tomorrow on the 1st of the year but we are going to wait for the new compensation plan enhancements to go live before making this adjustment. This gives you about two weeks before the shares drop from 1,000 to 600 days.
IMPORTANT!! We want to make it very clear that each share purchased prior to January 15th and ALL PARTIAL shares that are earned from these shares will ALWAYS earn for 1,000 days.
This means all members who own shares right now will not be affected at all by this. All of your partial share repurchases will be good for 1,000 days (forever) as you are grand fathered into the 1,000 days and no change will be made on your mining contract.
In other words, this has no effect on you or your earning potential it only applies to new shares that are purchased after January 15th and all partial shares that come from these shares will be good for 600 days.
Why are we doing this?
Based on our numbers and the growth of the industry we feel it's necessary to make this change now so that in a few years from now the mining shares will still be valuable and not become too diluted.
This 600 day time frame is also more in line with the turnover of our mining equipment. If you were to buy the latest mining equipment today you would have about 1 year or possibly 18 months to earn profit from it. With our model we can extend this by liquidating older machines and rolling into newer models but we think 600 days is about the max before its just too diluted for future shares.
Originally when we set the shares at 1,000 days it was based on the profitability of the equipment at the time (September 2014). Now this is a lot more accurate with today's market and we believe it will benefit everyone in the long run. Also, just to let you know this number could be adjusted again during the year or next year based on what we see happening in the market.
We will always give you plenty of time before making a change like this and again it will NOT affect any current mining shares purchased only the future shares purchased after a change is made!
Thanks for making 2015 an incredible year and we hope you are excited for 2016!
Sincerely,
-BCN Support Team
LOLOLOLOLOLOLOL
Whoever wrote that salad of bullshit, nonsense and outright lies was obviously more drunk than I am at the moment. Or maybe working on the principle that bullshit baffles brains: if they were mining that instead of Bitcoin, BCN would indeed be a world leader.
I'll be back after some party recovery time to rip this exit strategy preparation to fucking shreds.
December 31, 2015, 08:15:51 PM
I am just waiting for the day it completely collapses and trys to hide away like it never existed.
Jump to: