What a surprise from a generic crock of shit copycat site like that.

There are 176,451 other people thinking the same, if you believe their website.
But that's where the problem starts, believing their website...why would you do that?

It certainly is still alive, coming to London with its Circus this week.
Probably the best tracker of OneCoin and the Bulgarian Mafia that run it is a site called http://behindmlm.com/ .
Current subjects under scrutiny there include

http://behindmlm.com/companies/onecoin/is-onecoins-blockchain-useless/

http://behindmlm.com/companies/onecoin/45-7-million-recovered-from-chinese-onecoin-scammers/

http://behindmlm.com/companies/onecoin/onecoin-hire-symbol-media-group-for-ponzi-promotion/

http://behindmlm.com/companies/onecoin/ignatova-has-spent-35-million-on-bulgarian-property/

http://behindmlm.com/companies/onecoin/onecoin-affiliates-banned-from-vandalizing-wikipedia/

Happy reading.

As for "reporting", most authorities only take complaints from people who have actually suffered a loss and can prove it, as opposed to third parties who look at a crock of shit like OneCoin and realise what an obvious scam it is.

Imitiation is the greatest form of flattery they say, and there's MLM/Cyptocurrencies crawling out of the woodwork these days, so it's not a surprise to see



turn up, word for word here


The "Academy" bit refers to another hot MLM scam favorite, that of selling an education package of useless, plagiarised cut and paste with some motivational memes thrown in.



Most blatant at this is OneCoin, a figment of Bulgarian Mobsters' imagination, which was the "coin" of choice of many of the BitClub Networkers before they realized it was too absurd even for them.

BCA is run by Mike Lavoie and Todd Hirsch.
Lavoie is the man behind SkyCoinlab (does it mine? doesn't it mine? No,it doesn't) in Canada and also Bitcoin Cycler. Hirsch just pumps any old crap.

So, the moral is, in the MLM world there's shitty scams and copies of shitty scams, take your pick.

---

Checking to see that the "team of" quote was word for word, I also noticed BCN's old


Well, I guess that's true, but a slight abuse of "one of" as a description of an outfit that's bumping along around 2% of network hash.

This is the pool that BCN 'miners' are paid out of, and BCN's sole source of income apart from new investors' money. Looking at Bitcoin, how are they doing with their quest to be?

So, let's accept that they are mining, probably with some Bitfury product and S7's as Weeks, their self appointed spokesman and negotiator with suppliers, maintains.
Trouble is with Weeks, you can't exactly trust what comes out of his mouth.
Not saying he's a liar, but...

Anyway, I get the feeling that BitClubNetwork were hoping to buy some of Bitfury's 16nm machines. Weeks mouthed off to the effect that they already had, but then he has pretty zero cred and it's commonplace in the MLM industry to be shouting about "Exciting times ahead".

On March 1st, Punin from Bitfury confirmed that BCN were customers, a pretty easy conclusion to come to by looking at the pool references.
Punin was confident too, to the extent of having a bet on the imminent availability of these chips, then..........

It all went dark. Possibly blamed on damage to the chip manufacturer's plant in Taiwan, TSMC predicted at least a 50 day delay in delivery, knocking back Bitfury's projected 1st April (how apt) to late May.
And now Weeks is palming off disgruntled customers with "September". Already ROI's have been slashed to nothing and the only thing good going for BCN is the $100 rise in the price, but their outgoings against contract are priced in BTC so that's of limited help to a hugely top heavy overhead structure.

An interesting screenshot this morning shows Bitfury completely absent from pool data and BCN having a little increase, which seems to indicate some symbiosis between the two.



Both Spondoolies and KNC have recently gone to the wall attempting to compete with the Chinese. Anyone who thinks that Bitfury are invulnerable because what? to the same fate is probably drinking the wrong Koolaid.
Probably Weeks piss flavored KoolAid, because the halving's only a month away and it looks like he's backed the wrong horse.

Crunchtime.

Until it doesn't.
Sucker.

CLD stopped mining?

What makes you think they were ever mining in the first place?


Looks like you've only got "trusty" hashocean left. /s

---

Funny that, I tell people that Eobot is an obvious ponzi scam.
I wonder who is right, you or me?
Me.

They don't take gold either.

I'm sticking with my sell into the strength profit taking plan, 20% of recent low 400 longs up for grabs at 525, 550, 575 etc. then replacing on an overbought pullback to the 400's. If it happens. If it doesn't, then still got the cheap stuff.

Ok, still carrying the sig an hour ago.

https://bitcointalk.org/index.php?action=profile;u=539350

2000 posts of shit.
Green trust for completing an escrowed $8 deal.

An economist


And career advisor


Career advice? Buy an account and sig spam.

BIWF.

Bitmain, BW, Bitfury or Canaan, who's next then?

KNC, Spondoolies....small to medium size fabricators/miners going broke, anyone see a pattern here?
Who would be next in that category I wonder?
No, surely not....

And it's time for an update for the Numero Uno Crowd Funded Cloud Mining MLM Network in the World ^tm

There are three aspects to this operation, they would have you believe

1) BitClubPool mining and "passive income"
2) ClubCoin, the PoS offshoot
3) Merchant platform for ClubCoin.

1) ain't looking too clever. Any cloudmining outfit will be making ROI payments to its investors, based on their profitability/shared by the number of stakeholders.
BCPool have mined 785 blocks in the near year they've been going. Take out around 130 as mined by third parties (not BitClub Network) and average out the price and you get best part of $5,000,000 gross income. Big Number.
Depending on who you believe in an environment where "no-one" is the sensible answer, the net profit on that after regular overhead and electricity, could be anywhere between $1m and $2.5m, still a chunk of change.
So yeah, BCPool makes a net operating profit, that's a reasonable assumption.
But then it's got to be shared out.
There are two main places for that money to go, to the "miners" as ROI and to the networkers as commission. The more miners recruited by networkers, the more those two demands grow. If a stage is reached where those commitments exceed the income, then the only way those payments can continue is
A) Reducing the ROI to the basic investors
B) Paying out from another source, other than mining income. There are no others, apart from new investors lump sums coming in. When you use that money to make up the difference to service existing commitments, you become a Ponzi.
C) Both.

The way to avoid that is obviously not to just keep selling and selling and selling "mining" contracts beyond a level serviceable by your operating profit.
MLM operations are sales driven. Google "BitclubNetwork" and you will find everyone and their uncle sell, sell, selling mining contracts on hundreds of different websites, social media platforms, webinars and seminars.
At the moment, Master Builder Abel, self elected BCN public spokesman Weeks and many others are hitting Asia for all its worth.
If their numbers are to be believed, ONE seminar in Seoul recently attracted 6,000! potential suckers investors.
These guys have energy and drive, give them that.
Every sign on the line is $$$ for ever (how long it lasts) direct to them personally. (See previous posts for the ratio between mining income and referral income for these salesmen. Part of the game is to buy the biggest packages in order to access bigger and bigger downline building opportunities. The $3500 max mining entry ticket is peanuts, and so is the relative income from mining.)

Anyway, you know this probably.
More investors, more ROI to pay, more referrals to pay.
That's OK, just so long as the income from mining keeps pace.
OOPS.

 

That's BitClubPool's hashrate stats for the last six months. An increase at the beginning of the year on the back of their big marketing push to keep pace (just) with the general arms race increase, but compare it now with the total network hashrate....



Combination of the two, ever increasing contract sales+declining mining earnings=dilution=very unhappy investors



MLM operations, especially bad actors, keep everything "in house", usually communicating directly thru dashboards. There is also a vested interest on the side of the investor not to rock the boat, because most realize that these things can snowball pretty damn quick and create a situation which is what they are personally trying to avoid. The equivalent to a run on the bank: they are only too aware their investment asset is only worth something while the doors stay open.

Weeks is quick to jump in (just an aside, Weeks, Abel and many others are U.S. citizens, it must be strange for them travelling the world first class selling something that can't be bought in their home country...) anyway Weeks comes up with the classic, "Be patient, great things happening soon"
line


September?
Errr, Joby, heard of a thing called the Halving? I'm sure your pretty meagre income is going to be probably slashed in half before September.
Well, not your personal income. That's based on what you sell, not what it earns...

I wonder what happened to



and what he's doing with them because, as sure as f*ck, he's not mining with them.


Nearly there....

---

So, onto
2)ClubCoin, the PoS offshoot

Not a lot happening that is immediately visible. Github is dead, as is their promising da Moon thread on here. The devs haven't even logged in for a couple of months. Maybe they and the rest of the Oompah Loompahs are too busy in the Chocolate Factory.

Doesn't look to healthy pricewise either, flatlining around 20c with no volume



and even at that price proving very hard and frustrating to dump.
Cue more unhappy punters...

---

3) Merchant platform for ClubCoin.

Even quieter on this leg of the BitClub Network Master Plan.
Despite being floating as the Next Big Thing as long ago as November 2015, nada, zilch, nothing.
Apart from Mr. Rent-A-Quote Weeks that is


OK.


Edited to include KNC bankruptcy-because-of-the-halving link.

 

Fantasie...  






Wirklichkeit....  

http://www.zsbtv.com/Web/c_000000010001/d_139727.shtm

This is off topic in this thread.
It is specifically for looking at "cloud mining opportunities" and their Ponzi characteristics by applying certain criteria, not for waffling general "advice" that looks like account farming spam.

Reluctantly allowing the sale of accounts seems to be the policy here, but it's hard to justify transferring positive trust to a new user whose motives for buying could well be dishonest. Straightforward buying of trust isn't condoned, so why should this back door way of getting it be?

In practice though, how could admin stop it even if they wanted to, or strip sold accounts of positive trust which is no longer applicable?
They only have certain information about an account, the email, password, isp and maybe a signed message. They may have other magic forensic stuff, but I'd have thought that would be pretty labor intensive.
All that sellers would do would transfer everything to the new user as part of the deal, and isp's change all the time.

Yeah, this is shit and fwiw KNC will be remembered for it (albeit amongst a group of neckbeards who don't matter a f*ck).

IANAL, but I'd have though that "hobby miners" would have normal consumer rights under the
 "an individual acting for purposes that are wholly or mainly outside that individual's trade, business, craft or profession"
proviso.
Obviously not, according to the Swedes.

Unverified anonymous input? Prone to abuse.
If you want a list of shit then http://www.badbitcoin.org/ is the site to go to.

---

Penny just dropped.

This site lists six mixers as scams.
The OP is promoting coinmixer.net.
The OP is probably an alt of Moriarty, the mixer man that helps himself to his clients money.

Maybe you should stop posting tendentious crap and read the replies you get.


That doesn't mean they are condoned.

These pretend impartial "reviews" of obvious scams are pretty commonplace.
A scam shilled by a scammer.

This is complete bullshit, the blockchain can do nothing of the sort.

Ticket prices quoted in the Kibo Partners compensation plan range from $1 to $50. Thus to raise $1.49 million dollars you’re looking at approximately 29,800 to 1.49 million tickets sold per draw.
Good luck raising that multiple times a week without the confidence of regulated gaming. Even on the vague possibility there is a draw, 67% of funds paid in go towards prize generation, which means that for each $1 million payout, the company needs to raise $1.49 million.
Not only is running an unregulated lottery illegal the world over, so too is promoting them.
The whole pile of shit is topped off with a pyramid referral scheme flogging Premium affiliate spots at $2900 a pop.
H/T Oz.

And as OP's name suggests, this worthy endeavor is based in Russia, home of worthy endeavors.

When this post gets deleted because self mod, I'll start a scam accusation.