A few quotes from the latest BitClub Network members update:


The bolded part makes no sense. How is there any difference whatsoever in the cost of servicing a US based contract and a non US based one? Lawyers?

The italicized bit, even less so. They are either running a profitable mining operation or not.



This confirms for me that their withdrawal from the US is down to some sort of regulatory intervention. Maybe along the lines of "Stop taking new punters until we decide what to do about you."


This is to reinforce the idea that they are selling hardware and hosting it, not unregistered securities.
Virtually none of the 'investors' that I have looked at show any signs of being interested in anything but BCN's great MLM selling point, "passive" income. Setting up a piece of unspecified ASIC in your basement does not qualify as passive. That would be like asking the Avon Lady to start making lipstick in her bath.


The stats of BitClubPool rougly confirm the mining figures but, according to references, about 20 of those blocks were mined by third party miners because zero fees (and, in the past, block finding bounty), so no benefit to BCN members from those. That's only ~$200,000 difference, chump change.
What is unconfirmed is
1) any blockchain connection between newly mined BCP coins and BCN payments.
2) any proof of an overhead structure <$40/kW.
Fwiw, Genesis commented a while back on the cost of running an Iceland based mining operation. Allowing for change in difficulty, the figure Streng quoted then of ~$188 cost per bitcoin mined is now in the region of $250 per coin. BCN's figures imply their total costs are ~$105 per coin mined, which is less than Genesis' overhead without electricity...


"We are not a Ponzi".
So, all mining income is disbursed between mining contracts and referral pimps. The "amazing" bit is that statement, the implication that not only can they pay very impressive roi and huge matrix commissions, they can also make a re-investable profit by selling old ASICs and buying new. This is presumably linked to Weeks' statement that Yoshi (Bitmain) sells S7's to BCN for "$100".


Look forward to them....

That's a good start. 
I shall leave you with the hardware experts now.
There are two factors to bear in mind, the possibly imminent limited release of Bitfury's much promised 16nm gear and the effect of the halving on projected income.
Good luck.

The immediate problem you will face will be the cost of electricity. How much do you pay?

How many users are there then? How many is a "few"? Numbers please.
The whole point is that most MMMGlobal users are not "in bitcoin".

I am resisting the temptation to tell you to take your Yobit spam elsewhere.

Don't start holding your breath 

It seems that in answer to the original question, MMM may have had some positive effect on the rise in BTC price late last year, as "The Republic of Bitcoin" attracted new users, a lot of them BTC virgins.
Now that they have been scammed, or at least had their deposits frozen, it seems unlikely that there can be a mass dump of Bitcoins unless the scammers decide to do so.
Converting a large sum of Bitcoin to fiat is not without its problems, especially as it is Russian based, given the Russian authorities attitude to Bitcoin and its newly passed Ponzi laws. Also, with the possibility of further price increases what better place to keep stolen money?

Maybe it can be viewed as educational.
There's a lot of young newbies with a get rich quick mentality about Bitcoin, if they see these "doublers" and "investments" in one place, coming and going with neg trust, then maybe it's not a complete waste of space if they learn a bit. The possible downside of that is they then think that on the rest of the board everything is legit..
Centralized moderation of scams is a can of worms that no one wants to open.

GTFO.

Traditional scam tactic, buy moar get loadsa muneeez. 150% roi since February? Oh rilly?
Where's blockchain proof of payment?

The only reason, apart from scamming, for selling cloud mining is to get capital inflow. Why would a  "high end computer business" based in Germany and presumably successful (and highly capitalized) need your sats? If they have this magic system, why not just mine for themselves?
From FAQs


That's about 3 x S7's, ~$2k's worth, just plug and play if you already have the infrastructure.  Surely, the more the merrier. What difference does it make to them who buys their "hash"?



I'm not going to get on your ass or call you names because 'morals', but you do understand what's being said? Absolutely no proof of anything to show that they're mining? Payment of a bit of dust is what Ponzis do?

Ask yourself why a "high end computer business" based in Germany would price in Dollars?

There's an army of Fresh from our Filipino Farm^TM Yobit spammers, this one deserves special mention

https://bitcointalk.org/index.php?action=profile;u=735600

One of the main points of the book was that by using the threat of enemies as an excuse, a government can justify the surveillance of everyone. We may not have two way TV's yet, but there are various 'anti terror' laws which legitimize collection of on line data (which obviously didn't exist when he wrote the book), phone records, travel etc.
The "Two Minute Hate" seems to be fairly widely adopted tho, but Orwell didn't dream that up, he probably knew of it from WW1 references.
When you read the book, remember that Orwell led a similar existence to Winston Smith, a cog in the propaganda wheel of the British Government/BBC during WWII.

Either my post wasn't clear or ppl aren't reading it properly.
The $400k refers to monthly costs of an operation that mines 150 x 25 BTC in that period i.e. ~$1.5m @ $420, or a net profit of >$1m per month.
Re: halving, yes I can divide by two too.

So, there's a set up in Iceland with over 40 PH/s of hash, a mix of S7's and other similarly efficient equipment.
In a month it mines 150 blocks and total costs (power, site overhead, rolling equipment renewal, everything) are said to be around $390,000.
This equates to a total cost per coin around $105.
What's it worth?

The problem

Up till now, Russia had a pretty laissez faire towards Ponzi and pyramid schemes, but a new law just introduced makes running one a criminal offence in itself for the first time.
Maybe not entirely unconnected with the disappearance of Russian Ponzi Superstar Sergey Mavrodi and the abrupt shutdown of MMMGlobal "Republic of Bitcoin", which was mainly administered out of Russia.

http://www.rapsinews.com/legislation_news/20160330/275727532.html

Maybe something to do with MMMGlobal shut down and Mavrodi's very low profile since, most admins on social media seemed to be based in Russia.

http://www.rapsinews.com/legislation_news/20160330/275727532.html

So what is the point that you two are trying to make?

1) Because you receive payment, then the scheme is legit?
2) Sending money to a 'cloud miner' which shows no proof of mining is a good idea?
3) Because a scheme continues operating, it is not a scam?
4) Suspecting something may be a scam but giving them money anyway is logical?
5) You are really clever?
6) The end justifies the means?
7) What?

Don't patronize, makes them worse.

Tell us about your public launch budget.
Where are you anyway? Singapore?
Are we talking to Mark Wilson?

Ok, I ask.
How do you make money?

Sleazebags to look out for in London, "Million Dollar earners" Jon Carter, Brian Michael, Chris Cobb all "industry leaders" 

Sleazebags to look out for in London, "Million Dollar earners" Jon Carter, Brian Michael, Chris Cobb all "industry leaders"