A good advice for every trader? Don't. It's a common fact that in forex, 96% of new traders lose money and give up when their funds run out. There is no reason to believe that this % is any different in crypto: if you factor in the extra risks of being scammed by wallets, exchanges and sundry thieves, the % is probably even higher than that. |
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His first reaction to the arrests. Bitclub may or may not have been running a Ponzi scheme, but the Social Security office <snip>Ayn Rand stuff<snip> His reaction to points raised here and here.https://coinrivet.com/roger-ver-im-not-involved-with-bitclub-network-scam/“I’ve never been involved with BitClub’s business in any way,” he said.
“I’ve had dinner with them on three occasions that I can recall – twice in Tokyo, and the third I think was in Korea.
“Two of those dinners were part of a big group of people.” The Korean dinner (as in the picture and this video) certainly was a "big group of people." Most of those people were BitClub Network "elite" (see t shirt logos and Frank Abel in the background). Referring to images of him with BitClub’s Russ Medlin and Bitmain’s ‘Yoshie’, which are currently being circulated with veiled accusations of heavy involvement in the scheme, he says he was merely keen to promote Bitcoin Cash “to anyone who would listen”.
“Yoshie ran their mining pool and is a Bitcoin maximalist who hates Bitcoin Cash,” he explained. “Russ actually was trying to use BTC for payments for BitClub but was having understandable network congestion issues, so like everyone else I can get to listen to me, I was urging BitClub to switch everything over to BCH."
At the 26th April 2017 dinner. Ok but, of course, Bitcoin Cash didn't exist then. Asked why he was even having dinner with Russ Medlin, Ver says he was innocently offering a helping hand to a start-up – an act of goodwill before quickly becoming suspicious of the project. Start-up? By the April 26th 2017 Korean dinner, BitClub Network were anything but a startup. So Roger had dinner with Medlin and then "quickly" became suspicious of the project afterwards?? So how/why did he tweet the infamous "It will all end in tears" tweet over a year before the dinner? He said: “I think I likely reached out to them first during the scaling war urging them to support bigger blocks with their hash rate, and then later BCH after the split had already happened.” Or maybe you "reached out to them first" when you called them a scam, and then 'later' after agreeing to retract it, before the split, hoping for their hash support? Soon after that meeting, the libertarian grew wary of the way BitClub was being operated, and furiously slammed them for using his image in promotional material.
“Some other BitClub fan named Ryan set up a whole fake website with my photos and fake quotes saying ‘I’m a proud BitClub member and I earn extra residual income doing Bitcoin mining with Bitclub’, or some quote like that,” he said. "Some other BitClub fan named Ryan".... That would be J. Ryan Conley. He wasn't "some other fan", he was/is a serial MLM scammer who was vocally and aggressively promoting BitClub globally, boasting of his flash cars and lifestyle he was living because of it, and here he is pictured with you, all smiley smiley, in March 2017 “I was really angry because they were using my name and image to promote their product that I had nothing to do with.
When I looked into it more, I noticed they didn’t even tell their customers how much hash rate they were buying,” he recalled.
“That fake website was what inspired me to send the tweet letting the world know I have nothing to do with BitClub.”
in Feb 2016. “I wonder how many of the people criticising me tweeted anything negative about BitClub as early as I did? I bet none,” questioned Ver. ?? By February 2016, BitClub Network was being hung out to dry as a scam all over the place, including here on this forum, where you were also posting just a few days after your tweet. “A significant time after I had made that tweet, the BitClub guys contacted me saying they wanted to talk about big blocks or BCH – I don’t recall if it was before or after the split.
“They really wanted me to delete the tweet and argued that it was hurting their business.
In the course of our meeting, I agreed to delete the tweet for them, and it was implied that they would do more to support Big Block Bitcoin. Quid pro Quo much? "Deleting a tweet shouldn’t be seen as an endorsement in any way" Publicly withdrawing the unequivocal statement that you believed a Bitcoin mining operation to be a pyramid scheme should be seen as what then? "and I’ve never done any business with BitClub in any way.” The thousands and thousands of coins that were distributed/stolen by BitClub thru their use of your Bitcoin Cash network, no, they weren't "business" at all. |
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Well, I have a friend
First post for five years. Fuck off. |
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snip<lunacy>snip
Off topic, get back to your own part of the solar system. That's definitely flat. |
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So, let's tidy up some loose ends, out on the right of the matrix Simple Savings is taken care of, but I had a quick look at their Twitter today just to see if anything new was happening: it's not, just the usual memes. One 'like' from an account called Sara Conors @SarahCo11648557."Sara" joined up in April, just as this whole GWF matrix was pulling itself together and all the relevant Social media accounts being created. She/he/it follows eight of the sham companies in the above tree, and is followed by our very own Templar Fund. The account does nothing else. Leaving the Erikson sub family till next time, let's quickly look at one of the GWF outliers, an insurance company scam called Principatus Life, a.k.a the impressive Sterling Pacific Financial Corporation, "founded in 1907". Principatus Wealth Builder ©  Our History
The Principatus Wealth Builder Life Insurance Policy is offered by the Sterling Pacific Financial Corporation (a USA entity)2.
Founded in 1907 by Cornelius Schwartz1, Sterling Pacific Financial Corporation2 provided insurance & custody services for silver mines in Northern Nevada. Ever expanding its product portfolio, the Company offered term life insurance policies to US servicemen and their families during WWII. The company continued to grow, offering merchant banking services & retail consumer insurance products during the 1980s and 1990s.3
In 2014 the Company was acquired by the Global Wealth Fund AG (a Swiss entity)4 and was merged with the Principatus Group LTD (a UAE entity)4. This maneuver made it possible to expand the existing term life catalog into the present-day Principatus Wealth Builder product, making it available to clients around the world. It also marked the first time in financial history that a term policy featured a limited premium period, as well as cash benefits paid during the term itself.5 1 There may well have been someone called Cornelius Schwartz alive in 1907, but he didn't found this company then, or ever. 2 A Sterling Pacific Financial Corporation (a USA entity) does exist. It's "one of the largest private trust deed investment firms in California, with over $350 million in loans." Nothing whatsoever to do with this one. 3 Nope. 4 Neither exist in reality, only invention. 5 The product. A dream insurance policy, no medical, no profiling, 100% of applications approved from anywhere in the world, customizable, instant cash out, the wish list goes on. If only it were real. It isn't. The team is totally fake. Stock photos, no rl biogs, completely invented. One example, the 'CEO' Charles Dornado has a black and white reversed stock photo. The CEO of a huge 100 year old insurance company has no web presence at all, not even a fake Linkedin. Fail.  Our Operations
We operate administrative offices in New York City and Dubai.
We operate satellite and/or sales offices in Los Angeles, Seattle, Phoenix, Denver, Houston, Chicago, Pittsburgh, Atlanta, Miami, Toronto, Montreal, Buenos Aires, Caracas, Sao Paulo Belfast, London, Amsterdam, Brussels, Stockholm, Riga, Dusseldorf, Frankfurt, Florence, Paris, Barcelona, Budapest, Prague, Istanbul, Cairo, Accra, Djibouti, Johannesburg, Abu Dhabi, Mumbai, Kathmandu, Ho Chi Minh, Singapore, Sydney, Hong Kong, Shanghai and Tokyo.
We employ a network of independent consultants, brokers and/or sales agents who work from home and/or their respective firm's independent sales office. Nope. No records anywhere of any of this. Nada. Apart from the "administrative offices in New York City and Dubai".... (N.B. "Soteria Insurance" doesn't exist outside of a small uk broker) Ah, our previous friend the Chrysler Building, a prestigious address claimed to be the home of a number of the Global Wealth Fund subsidiaries. Here's a cool little graphic, not an exhaustive list of tenants for sure, but not one sign of any GWF companies on it. Of course, there's always the virtual/P.O.Box address service, if all you really want is the pretense. And then there's this: Principatus Financial Intl LTD 1 Sheikh M. B. Rashid Blvd The Burj Khalfia (sic) 154th FloorDubai, United Arab Emirates We, quite rightly, think of Dubai as a scammer's paradise. No extradition, the perception that money not only talks but shouts, Eurotrash frauds holed up in 5* open prisons, that sort of thing. However, the UAE does have regulation and registration procedures and lists, one of which is for insurance companies. Guess what? No Principatus. The 154th floor of the Burj Khalifa? Yeah, great view. I wonder where their HQ is? In the kitchen?
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Are you signed in to a google account?
Yes I am , but the same thing appears searching while logged-out If I google "Bitmain", logged in or out of a Google account, I get no paid ads showing. I also get 1,250,000 less results than you (4,960,000/3,710,000). Frightening really.  |
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I think Google has targeted advertising sort of thing , so maybe the add doesn't appear to everyone, maybe location matters too , I don't know what I don't know in regards to Google ads.
Are you signed in to a google account? Yes it's a complete scam, good find. A neat touch where the "shop now" link redirects to the real Bitmain, but poor stuff with the Txids being instantly discoverable as fake. Overall, a 4/10. Must try harder, scammers... |
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So glad this is finally over, I've been getting hate mail for years for writing that post about them on 99Bitcoins. Glad that finally the truth is coming out...
It's not "over" by a long way. The U.S. legal system has thrown a big rock into this cesspool, let's see where the ripples spread.You did a good job and run one of the few crypto sites that are worth reading. https://99bitcoins.com/anatomy-bitcoin-scam-bitclub-network-analyzed/Yes, the threats and hate mail are unfortunately part of the deal, we'll have to meet for a beer and compare notes sometime. Good luck. |
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Take this, Globalists Green Mans!  |
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When you combine the people in the Foxclub the last thing anyone gets is bored.  A group of foxes is called a skulk...The term "skulk" may be used for any animal considered vermin |
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Bitclub Network started in 2014 and this week five of their core team were arrested for wire and securities fraud. Bitclub Network was a Ponzi scheme from the start. They are scammers in the purest form; they created a "bitcoin mining project", sold shares in it and took the profit and investors' funds thru a Multi Level Marketing pyramid with them, the "founders", at the top. They falsified data to appear to be profitable and made derisory payments to the "idiots" and "sheep" (as they termed their investors) from new investors' money. Anyone who looked closely at their scheme could see this. The fact that it lasted for five years is due to a number of factors, including naive investors FOMO'd in by hi pressure salesmen, the increase in the value of Bitcoin and the lack of any oversight of crypto investment schemes. But Bitclub Network didn't exist in a bubble. Apart from the MLM salesmen who treated crypto as the "next big thing" to mis-sell, there were a number of relationships within the growing crypto space itself, without whose complicity this fraud could not have grown to the extent that it did. Bitclub made name dropping a marketing tool: they continually referenced BitFury, Bitmain, Genesis Mining and Roger Ver, amongst others, to position themselves as part of the "legit" Bitcoin establishment in the eyes of their newbie investors. Let's look at the BitClub Network's relationship with Roger Ver. TIMELINEFebruary 2016.The MLM business is full of sociopathic frauds. They lie convincingly and remorselessly. They invent, evade and dissemble. One such animal is J. Ryan Conley, a hi profile BitClub recruiter in the early days. He tweeted  A common MLM scammer ploy, credibility by association with established figures.... "My homie Roger Ver" Roger, not surprisingly, took exception to this and tweeted back  Which is perfectly reasonable. Roger isn't unintelligent, he knew how competitive mining was and understood that a project with a hugely expensive, parasitical compensation structure would be unsustainable. He makes that frostily clear on the CryptoShow @ 45 minutes. (Listen to Weeks' babble as much as you want to as well.) Fast forward a year, to March 2017.A lot has happened. The bull run has really started and the schism between Roger and the BTC establishment is obvious. (This is a big subject, big blocks etc., and not that relevant to this thread in minutaie. Here's a contentious primer if you want one.) Out of the blue, comes an extraordinarily humiliating (for Roger) You Tube video released by BitClub on March 26.  Why would Roger do that? Recant a perfectly reasonable opinion in such a bizarre way? They even make him read it out, like some naughty kid in school being punished! There's a big difference between a favorable first impression of a project then subsequent cynicism, and initial logical cynicism being publically withdrawn. The latter would surely require pretty concrete proof, but we now know that there's no chance of Bitclub being able to show anyone they were legit, because it was all lies anyway. I repeat Why would Roger do that?Fast forward a month, to April 26, 2017 and a BitClub affiliate video....  Left to right: Russ Medlin, BitClub Network's top guy (the redacted name on the injunction). Roger Ver. Yoshie from Bitmain. August 1 2017The fork. February 1 2018Announcement from BitClub Network (edited by me for typo)From February 1, we will only accept Bitcoin Cash (BCH) not Bitcoin (BTC), which means that you need to purchase Bitcoin cash from a stock exchange or wallet providers to register mining pools or buy. You can also convert your existing BTC to BCH, but either way it's just BCH!
We also pay ALL commissions in Bitcoin Cash!
For example, each binary cycle pays out $ 200 (about 0.013 BTC) bitcoins and the same $ 200 will be paid in bitcoin cash (about 0.08 BCH) as of February 1st. Nothing will change, you will still get exactly the same USD value for everything, but instead of being paid in Bitcoin, it will be credited to your Bitcoin Cash Wallet.
These include Binary, Level Up, Matching Bonuses, Infinity Bonuses and all other commissions. Apart from mining, profits will continue to be paid in Bitcoin (BTC) as we continue to mine on the BTC chain and use the high fees. June 10 2018Roger Ver and his "long term friend?" Joby "1040" Weeks having a no eye contact strained chat on You Tube. Weeks comes out with a bs story of losing $700,000 because of a slow Bitcoin transaction. Roger looks at his feet and then Roger asks Weeks why is it that the majority of BitClub’s hashrate goes towards Bitcoin Core, rather than BCH. Moreover, he also asked when does Weeks expect this to change.
Weeks didn’t really provide a specific answer, but instead went on to discuss operational hurdles in regards to the exploitation of BitClub’s equipment. According to him, back then, they had $50 million worth of equipment which hadn’t been plugged in. He also shared that they are expecting to create the world’s largest mining operation, harnessing over 300 megawatts of power. Never trust a scammer, even one you're in partnership with.
Edit: I've just read GMaxwell's Reddit post, which predates mine. No plagiarism, honest. |
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Probably not very useful anymore as it doesn't look like realtime price will ever cross with BETI 0 ever again but... just saying.
Never say never.... |
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Why would OgNasty in the first place get involved in an obvious Ponzi
Things were different back then
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Things were different back then
What does that mean? |
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Even with money rolling in, BTC going up and "idiots" being recruited by the thousands, these lowlifes still tried to stiff Catalin Balaci, the sole dev (they're his redacted replies to Goettsche, but his name is mistakenly unredacted in one charge) who was making it all possible: The other redacted name is child molester Russ Medlin.
Edited for clarity re Balaci, thanks to Stompix prompt. |
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I don't know why anyone would wish the end of Binance. It would also mean the end of the crypto currency space, I don't think we would survive this.
Binance dies, the bitcoin dies with it, back to 1k.
So be it. |
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