Bitcoin Forum

Is bitclub network a legit cloud mining company or it's just a group of thieves looking to steal BTC because their offers sound unrealistic and yet i'm quite aware that mining is unprofitable but they tell me they can make me a millioneer by just being a member, is this so or its just a ponzi scheme built on a bubble? 

Thats an old site, if you want to invest on there, then i suggest you are not doing it. They already listed on badbitcoin.org bad list, so better avoid it.
You maybe want to check this article
From [Investment Warning] Bitclub Network Review and Analysis (https://99bitcoins.com/anatomy-bitcoin-scam-bitclub-network-analyzed/)

Its looks like ponzi, but idk why they have their own pool https://www.blocktrail.com/BTC/pool/bitclubnetwork.

"If something sounds too good to be true, it probably is"

If you want to invest in cryptocurrencies, then buy the coins/tokens. If you want to mine cryptocurrencies, then buy your own hardware.

Their offer sounds unrealistic and yet you're still interested? To be a member you need to pay, as well as buy a share, but that doesn't guarantee that you will be a millionaire. You won't be even sure how long would it take to get your ROI.

Aren't you curious if the one who's referring you is already a millionaire by just being a member? Why not ask him  ;D

Bitcointalk post about BitClub Network: BitClub Network: MLM promises, false testimonials and PoS coin - AVOID (https://bitcointalk.org/index.php?topic=1152263.0)

It would not be much more profitable if you bought bitcoin or altcoins and held it for a year and you still have the advantage that you would have control of the your coins. Make calculations of the returns of sites of legitimate Cloud Mining Vs the returns of buying bitcoin and hold for 1 year that you will realize that it is not worth just wasting time with cloud mining


This is a bigger problem, the calculator that these cloud mining sites put in their sites is only to deceive the people to invest, because after the person investing realizes that the returns are very few and it is too late to go back and ask for the money back

Well he says a lot so I assume he is a millionaire............

ohhhhhh so its just like faucets??

You can see the many cloud mining investment platform available in the market and coming up every day in the market. We need to leave the project whatever it is in cloud mining platform buddy. Please check and understand that mining is no more profitable at even you mine with the ASIC as well.

Then you will see the badbitcoin.org website this will give the information which site most trustable to use and whether is trustworthy or not.

If anything ever sounds too good to be true, it most likely is, and this applies to Bitclub network. The thread linked by jhenfelipe basically summarizes the entire thing, and cloudmining as a whole is terrible idea. Consider other more legitimate options to make money, such as investing in physical hardware and mining, or even trading. There's no way anyone can make sure a cloudmining company's legit, and the operators run away with the funds all the time.

It's likely because they actually use funds deposited to their site to invest in miners, but don't return significant amounts of earnings to their customers. Just because a cloudmining company claims to own hashrate doesn't mean they're legitimate.

They currently have a 2.6% hashrate, according to https://www.blockchain.com/pools so in this case i doubt that they're merely a "cloud mining" scam. Still, i find them quite phishy too, mostly because i don't understand their business model.

They let people invest in their hardware and pay them out accordingly, + they pay users for reffering more users, right? That definitely sounds sketchy, and like every cloud mining scam ever created, but, as others have said, they have been in business for a very long time, and they actually mine blocks.

This one might not be an outright scam, but it's still doubtable if you'll ever get ROI with them.

Well i have joined but i m still doubting whether i should but membership or not because this looks like one day you might wake up with nothing in those walllets of theirs

I agree with your statement. From what I have read in the Bitclub thread linked here (https://bitcointalk.org/index.php?topic=1152263.0) in February, one user's gotten a 9.6% return rate in seven months, and that's likely subject to change with difficulty adjustments- certainly not good if you ever want to see all of your money again without having to lure more people into this scam. The entire thing's really just a crypto MLM. Just more proof that cloudmining's a terrible idea...

I suggest you do your research first. We have gathered lot of good Information and Tools to help you with this process. Right now I'm kind of drunk and not in the mood to write everything again here, just start from our reddit overview page: https://www.reddit.com/user/BitClub_Statistics/comments/8ah161/bitclub_network_statistics_review_in_numbers_and/ (https://www.reddit.com/user/BitClub_Statistics/comments/8ah161/bitclub_network_statistics_review_in_numbers_and/)

Although I'm not a prophet and can't tell you where earnings and bitcoin price is going to in the future, at this moment I defenetly suggest to stay away from it.

But as I said, If you're interested you really should check out the link, lot of useful information...

As we use to say: "BitClub Network Statistics - taking the long promised and advertised transparency to the next level... lol" ... (and yes, the lol is part of the quote, lol)

Boom!  ;D
https://www.geldthemen.de/kryptowaehrungen/mining-kryptowaehrungen/bitclub-network-klagen-anzeigen/ (https://www.geldthemen.de/kryptowaehrungen/mining-kryptowaehrungen/bitclub-network-klagen-anzeigen/)

There it is. So its true what they say 'if its too good to be true, it probably is.'

If you want something done, do it yourself. If you think mining can be profitable for you because your electricity is much cheaper than anywhere in the world or perhaps you live with your parents where they pay the bills, its good for you. Then buying your own GPU's and mine whichever coins you want.

https://www.coindesk.com/us-arrests-3-in-alleged-crypto-mining-pool-fraud-scheme

Finally the first Arrests of the Bitclub Ponzi Bosses

This website operates as a ponzi/mlm schemes and they are likely scams https://nigeriabitcoincommunity.com/comprehensive-review-bitclub-network
it should be avoided.

I just learned the news from this thread (https://bitcointalk.org/index.php?topic=5208633.msg53320946#msg53320946) in the Press Section and it's really funny to see that the website even though they have arrested the ones operating it is still up and running, they should have shut it down in the first place if they want to avoid more casualties. Aside from that they should also take care of the recovering of the 722$ stolen from their users and find a way to give it back to their rightful owners rather than just do some arrests, I know this will take time which includes of finding at least one of them guilty before they start to sending back the funds but I think it will be better for them to start identifying the users who lost their money so that it will also help build up their case.