BITCLUB NETWORK: Prison is not the place to be right now

[tmfp]

We are sponsoring the major event ‪#‎InsideBitcoins‬ in Seoul this week.

Not quite, there are two sponsors and BCN isn't either. They are listed as one of 36 exhibitors, nothing more. http://insidebitcoins.com/seoul/2015/sponsors
Good use of word 'major'. Ver is speaking too. Must be a must be there for every slimeball  networker in the industry.

#Clubcon

I got this bit wrong. It appears they weren't even an exhibitor, although it's difficult to get info because our hero J. Ryan screwed up his flight and missed the whole thing. So he says. Hahahaha.

It's a shame if they didn't exhibit, they could have used their marketing genius to explain to the geeks like Ver how Bitcoin really works, with some handy graphix, essential aides for mining like "Generation Bonuses", "Infinity Overrides" and "Enrollment Tree Legs (not Binary Legs)".





BCN were:

CONFERENCE BAG SPONSOR ($3,500) EXCLUSIVE

Produce the official conference bag and your brand will be carried throughout the conference. This is a promotional item that will be used during the event and long after the conference concludes, providing maximum marketing impact. Sponsorship also includes one full conference pass.

http://insidebitcoins.com/seoul/2015/become-sponsor

It appears that the major event didn't exactly inspire sponsorship, out of ten possible ways to give the organizers money only four were taken up and there were only twelve exhibitors.
Did anyone go?

#ClubCon



Anyone remember BitcoinTrader.biz and their "Sponsored Road Trip around America" in a leased car with a sticker on the fender? Reminds me...

[n3cr0cyb3r]

I know it only seems like a small thing, these false pictures and non existent customers: "Hey, everyone does it, it's just marketing, doesn't mean anything!" but I don't see it like that. Once someone is established as a liar, then exactly how much of what else that they say can be trusted?

I know people who work in boiler room scams, confidence tricks and the MLM industry: in order to do the job properly they have to have the right psychological approach to the clients victims.
In order to avoid any compassion or sympathy as they hassle people night and day to part with whatever money they have in order to hit their targets, they effectively dehumanise the marks, treat them with contempt and laugh at them.
Some actually place bets on how absurd a pitch they can make and still be successful.

This is where the picture of the rapist/client comes in.
It's reasonable to assume that whoever used that picture of Ansari and gave him the ID of a fictional Brazilian client of BitClub Network, knew where the picture came from and who he was, what crime he had committed. This is the contempt I refer to, "Hey, these people are so fucking stupid, let's show them a picture of a rapist and say he's a client, I bet they don't even fucking notice!"

But someone's had their ass kicked, and the picture's been changed.
A real pro job they've made of it too....

https://i.imgur.com/17HaL9o.png

The thing is... there's no Chaco region in Brazil, and in Brazil they talk Portuguese and not Spanish like you see in the picture from Victor Diaz. I really don't know what to think about that site... they are growing everyday. I believe that everyone has been following the news about BitclubNetwork, does someone knows it is a real scam or have some different information?

[Cryptoshoe]

Many bitcoin newbies are falling for this scam due to
their advertisements on Twitter... poor them if only
twitter knew what they're allowing to be promoted...

Twitter and Facebook know full well what they're being used for, and you could measure the fucks they give on the fingers of one hand.
An example of a professional Facebook MLM and Bitcoin Network pumper shill is J Ryan Conley, who has made himself "CEO" of Team Extreme Worldwide.
He lives the Ponzi scammer dream, into crap MLM like Jeunesse and ZenBodi, a true parasite.
Check him out, troll away  
https://www.facebook.com/Team-Extreme-Worldwide-270229806368428/timeline/

This is the sort of crap he churns out every day

https://i.imgur.com/Fulprlx.png

the new repurchasing programming adjustment which is driving commissions through the roof...its getting ever better!

That's MLMspeak for "the flow of mugs is slowing down, time to crank up the rake off".

[Xandrah]

I think what people need to also point out here that rapist conviction picture they used as a person named "Victor Diaz" is directly ripped from news websites, it was a chuckle reading each review these "customers" gave.
Fake fake fake fake fake.
I think we have seen enough from them to prove this is yet another bullshit company.

[RoomBot]

That is one of the funniest things I have even seen in a scam:

The Spanish-speaking Brazilian customer who is really a rapist from India.

Reminds me of the "Smiling Guy" stock dentist photo that Allen Shinners pilfered for his BitLend scam site.

[The Sceptical Chymist]

Lol I saw this thread months ago and laughed.  See it again today and laughed again.  These fuckers come out of the woodwork in the land of bitcoin, don't they?

[RoomBot]

But...but...but...the guy in the video said that when BTC hits $30,000 each, (in the "very near future,") we'll all be multi-millionaires!!!   

[kotwica666]

Thank you tmfp for this thread!!  It is so true how scammers try to slide in to people wallets..

But this rapist picture is really too much!!! 

[tmfp]

Just a little socmed update from our MLM pumpers on the dreaded Facebook.
Great celebrations for BitClub pool mining their 200th block, but as usual, not quite the whole story.
(There's that "crowd funded" buzz phrase again  )



Although I am far from a mining pool expert, I understand there is a direct relationship between hashrate/participant's share/payout on PPLNS pools like BCN's.
Since they started in July with 0% fees, they have attracted a number of 3rd party users and, including their own contribution, their total pool hashrate has climbed to over 6 PH/s. Even with many third party miners, this is a million miles from their stated goal of becoming a

5% or even 10% pool.

at <1% currently.

Also the share of that (and payment for blocks discovered) to pay BitClub Network members has stayed pretty stationary in absolute terms and declined as a percentage of the total.

Some more "fag packet" numbers. Feel free to criticize/correct

From 07/18 to date, of those 200 blocks, 118, i.e. 59% (declining) were attributed to BCN's own mining.
The BTC average price in that period is $290.
118 x 25 x 290 = $855,500 Gross.
855,500 / 165 days = $5,184 per day total gross income.

As I previously estimated in an above post, from their own propaganda, BitClub Network has so far received in the region of $9,000,000 (and rising) upfront from wannabe miners, expecting to ROI in 1000 days.

9,000,000 / 1000 = $9,000 per day total liability to clients.

Of course, this takes no account of the actual cost of running/leasing the mining operation itself, or the parasite referral factor, the amazingly complex and expensive MLM structure which is the real reason for BitClub Network's existence.

The final word on which I will leave to the man with many, J.R. himself.
In two successive FB daily posts (note "mining income" itself, from his $3500 expenditure which was necessary to gain him access to the MLM structure, is static), just this one of many hundreds of shills/pumpers for this crap, in 48 hours made nearly $1,400 in referral commission





Try not to throw up at the Praise be to the Lord references.

[tmfp]

These fools at BitClub claim to own & store (and guard/insure) gold in vaults around the world.

I'm not so sure about that, I've researched them fairly thoroughly and don't recall gold being part of the sales pitch.
Are you thinking maybe about that appalling Bulgarian OneCoin MLM thing and its Aurum nonsense, run by Miss Piggy here?

[cryptodevil]

Try not to throw up at the Praise be to the Lord references.

Yes it is quite a common feature of these "We're all gonna get rich!!1!1!!!!1!!" scam ops, but then not particularly surprising because it filters out the critical thinkers and encourages the credulous to believe that not only does this 'Business' want them to be rich, an omnipotent, omniscient, omnipresent 'Creator of the Universe' deity clearly does, too, as long as you throw out a few hallelujahs in his direction.

Josh Garza and most of the GAW/Hashlet/Paycoin collaborators loved themselves lots of gawd, as well.

[tmfp]

Try not to throw up at the Praise be to the Lord references.

Yes it is quite a common feature of these "We're all gonna get rich!!1!1!!!!1!!" scam ops, but then not particularly surprising because it filters out the critical thinkers and encourages the credulous to believe that not only does this 'Business' want them to be rich, an omnipotent, omniscient, omnipresent 'Creator of the Universe' deity clearly does, too, as long as you throw out a few hallelujahs in his direction.

Josh Garza and most of the GAW/Hashlet/Paycoin collaborators loved themselves lots of gawd, as well.

Example #126 in the series "God told me to do it", or how to become rich by Celestial Intervention

[RoomBot]

These fools at BitClub claim to own & store (and guard/insure) gold in vaults around the world.

I'm not so sure about that, I've researched them fairly thoroughly and don't recall gold being part of the sales pitch.
Are you thinking maybe about that appalling Bulgarian OneCoin MLM thing and its Aurum nonsense, run by Miss Piggy here?

QUITE right!

Aurumcoin, ugh!!

So many scams, my head is spinning!!!!

[Xandrah]

I am just waiting for the day it completely collapses and trys to hide away like it never existed.

[tmfp]

Happy New Year to you all!
(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:

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
 

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.
 

[tmfp]

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

 

[Matias]

Please see this

https://bitcointalk.org/index.php?topic=1148668.msg13552340#msg13552340

[tmfp]

Please see this

https://bitcointalk.org/index.php?topic=1148668.msg13552340#msg13552340

What is there to see?

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?
 

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.

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).

[Matias]

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. 
 

[BTCFriendliest]

Hey Gleb, your avatar is facebook-famous today!!