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Author Topic: BITCLUB NETWORK: Prison is not the place to be right now  (Read 62101 times)
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May 13, 2018, 10:12:49 AM
 #201

..and my Hashflare mining contracts...


So you avoided this scam for another Hashcoins scam.  LULZ

Hashflare had nothing to do with Hashcoin / Paycoin.


Hashcoins/Hashflare are the same entity run by the same people. Moderators recently moved the entire Hashcoins thread to the scam section because they sold miners to customers but kept them for themselves to start Hashflare, which is another ponzi cloud mining scam. Hashcoins/Hashflare were also behind the Polybius ICO scam, whose official thread was deleted by moderators.........some track record  Wink

PIA went evil: https://bitcointalk.org/index.php?topic=5203968.msg53160131#msg53160131 Unofficial & Uncensored SYSCOIN thread: https://bitcointalk.org/index.php?topic=4748031.0    Do not trust Yobit/HitBTC/BiteBTC/coinsbit/p2pb2b/Mercatox/C-cex/Poloniex/WEX/KuCoin/LiveCoin/TheRockTrading/Bitfinex/ADAB/Okex/TradeSatoshi/Gate.io/Changelly/Freewallet.org/crex24 scam exchanges or ICO's by known scammers like HashCoins/Ambisafe/Bountyhive - they WILL scam you! Use diligence & research. Buy coins, sell coins - don't invest in stupid shit. If your questions aren't answered - don't touch it.
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May 14, 2018, 12:39:43 AM
 #202

..and my Hashflare mining contracts...


So you avoided this scam for another Hashcoins scam.  LULZ

Hashflare had nothing to do with Hashcoin / Paycoin.


Hashcoins/Hashflare are the same entity run by the same people. Moderators recently moved the entire Hashcoins thread to the scam section because they sold miners to customers but kept them for themselves to start Hashflare, which is another ponzi cloud mining scam. Hashcoins/Hashflare were also behind the Polybius ICO scam, whose official thread was deleted by moderators.........some track record  Wink

Thanks for the insight!
Josh Garza is going to prison SOON ™️.
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October 22, 2018, 01:34:27 PM
 #203

Bitclub has stopped their payments

Completely coincidental, of course, that the long neglected premined Clubcoin is currently being converted to an ERC20 in a frenzy of activity.

BCN stopped paying out in Bitcoin because it was "too expensive"1, so paying out investors in the near future only in their own shitcoin would seem a logical further "cost cutting" move.

1After they had "educated" Roger Ver about their business model..

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November 03, 2018, 07:44:41 AM
 #204

Are you guys very familiar with Trade Coin Club? I can't seem to find any massive expose on them in this forum, but... Ryan Conley was one of their "early adopter" promoters... Its a Ponzi pretending to use trading bots that opened in January 2017 and is still taking in really dense peoples' BTC who didn't manage to do 1 second of DD.

I'm writing an article about them now, stumbled upon this thread during my research. It sure is amazing how these guys just keep going from one scam to the next without ever getting jailed or fined or ostracized or anything!

Here's a good starting place if you're interested:

https://behindmlm.com/mlm-reviews/trade-coin-club-review-cryptocurrency-exchange-ponzi-rois

Ryan even addresses some of his critics in the comments section.

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November 03, 2018, 11:24:33 AM
 #205

When I started this thread over three years ago, crypto had had little exposure to MLM.
The MLM industry in America was busy with its staple diet of dubious products in the healthcare, diet supplements and household sectors.
It's a very conservative industry, sticks with what it knows and is organized along franchise lines.
There's either the establishment model, corporations like Amway and Vemma, or the fringe where independent high flyers with established "downlines" and relentless marketing jump from new scheme to new scheme in search of new "investors".
The founders of BCN were the latter and struck gold, in so far as they stumbled on something (Bitcoin) which allowed them to write their own rules. The lack of regulation and the mystique surrounding crypto were an MLMer's dream and they exploited it to the hilt.

MLM is quite a closed, close-knit world and soon it was flavor of the month to churn out crypto related schemes with MLM schemes attached, massively enabled by the anonymity aspect and the untraceable nature of funds.
Scammers also fall out with one another and fork off to establish copycats, and that's the environment that enabled Tradecoinclub.
The crypto world cottoned on fairly quickly to the old style sales approach of the MLM world, which is why you don't see huge threads on here regarding obvious schemes, but it still has a massive presence on the fringes of real crypto with schemes like Onecoin and Dagcoin.

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November 04, 2018, 01:45:14 AM
 #206

When I started this thread over three years ago, crypto had had little exposure to MLM.
The MLM industry in America was busy with its staple diet of dubious products in the healthcare, diet supplements and household sectors.
It's a very conservative industry, sticks with what it knows and is organized along franchise lines.
There's either the establishment model, corporations like Amway and Vemma, or the fringe where independent high flyers with established "downlines" and relentless marketing jump from new scheme to new scheme in search of new "investors".
The founders of BCN were the latter and struck gold, in so far as they stumbled on something (Bitcoin) which allowed them to write their own rules. The lack of regulation and the mystique surrounding crypto were an MLMer's dream and they exploited it to the hilt.

MLM is quite a closed, close-knit world and soon it was flavor of the month to churn out crypto related schemes with MLM schemes attached, massively enabled by the anonymity aspect and the untraceable nature of funds.
Scammers also fall out with one another and fork off to establish copycats, and that's the environment that enabled Tradecoinclub.
The crypto world cottoned on fairly quickly to the old style sales approach of the MLM world, which is why you don't see huge threads on here regarding obvious schemes, but it still has a massive presence on the fringes of real crypto with schemes like Onecoin and Dagcoin.

Kudos to you sir. I never knew about this crap until I saw this thread. Sad world, good job saving many people's money who read this first, even if we have no idea who or anything.... Cheers!

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November 04, 2018, 04:08:04 AM
 #207

MLM is quite a closed, close-knit world and soon it was flavor of the month to churn out crypto related schemes with MLM schemes attached, massively enabled by the anonymity aspect and the untraceable nature of funds.
Scammers also fall out with one another and fork off to establish copycats, and that's the environment that enabled Tradecoinclub.
The crypto world cottoned on fairly quickly to the old style sales approach of the MLM world, which is why you don't see huge threads on here regarding obvious schemes, but it still has a massive presence on the fringes of real crypto with schemes like Onecoin and Dagcoin.

I'm just surprised more of these people don't face any sort of jail time, and are allowed to continue from scam to scam unhindered. Here's my Trade Coin Club / AI Trades article if anybody's interested. Will probably post it in the News section eventually:

https://coinclarity.com/spotting-a-scamcoin-trade-coin-club/

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January 25, 2019, 08:10:56 AM
Last edit: January 25, 2019, 08:22:08 AM by taliazurita
 #208

There are no more mining earnings, Bitclub has become 100% pyramid scheme. Illegal in the USA yet Riccardo Ferrari shows off his new BMW sports car and brags making over $500k per month recruiting Americans in the USA. Riccardo is Joe Able's (1 of 3 partners in Bitclub and lives in Oxnard California) US point man and best friend.

https://www.facebook.com/photo.php?fbid=10216901847692032&set=a.4738523674606&type=3&theater

Riccardo is known for hustling woman with dating scams and is facing one such lawsuit in Florida. He is a real piece of work. I just recently received an email (spam) from him regarding a new victim of his, you got to be proud of your protege huh Joe Able?

Quote
Riccardo Ferrari ferrarisystems@gmail.com via aweber.com
Jan 22, 2019, 11:29 PM (3 days ago)
to me

Tonight's Replay
https://vimeo.com/312872346

If you missed this webinar, here is the replay video.
The Credit Star Funding model can fund you with
$50K to $250K as well as helping you with creating a full time
income with powerful A.I. platforms and done for you systems.
We are doing millions in viable applications every week.
Look into this. 7 figures can be yours in 2019.

Also, Jeanne Grosso the admin or our Facebook groups is totally
unsuccessful and broke. She tried to extort money from me or
would shut down the groups. She wanted money for my own groups?? (aka Joke)
That sick loser will never get money from me.
She shut down and compromised communications with 1700 of my members.
Why did I trust her with my groups admin? I don't know!
I never liked this whining negative woman. Beware a real nag!
My attorney is filling a law suit for $650,000.
And she is being terminated from our main company. Good luck to her.

I will reorganize a Facebook group as soon as possible.
Thank you for your patience.

Best Regards,
Riccardo Ferrari

Read this, Joe Able about your best friend for life. Sound like your other partner Russ?

Links to the sexual dating scam lawsuit
https://consentawareness.net/tag/ferrari/

https://books.google.com/books?id=nV5UCwAAQBAJ&pg=PA91&lpg=PA91&dq=%22riccardo+ferrari%22+scam&source=bl&ots=e7y68D0Cx_&sig=ACfU3U2FOAgSVPMvB72YPytlqRHyindI1g&hl=en&sa=X&ved=2ahUKEwirn_yyvYjgAhUjjoMKHcFVAcQQ6AEwBXoECAEQAQ#v=onepage&q=%22riccardo%20ferrari%22%20scam&f=false

https://consentawareness.net/2016/04/17/consistency-why-catfish-laws-are-a-must/


https://i.ibb.co/PD0FK1L/riccardo-sociopath.png
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January 25, 2019, 08:44:07 AM
 #209

The best reviews will ultimately come from the members themselves, and you will be hard-pressed to find anyone crying foul about BCN online, except for those who don't understand the nature of bitcoin mining, and expect to see fixed guaranteed yields on a monthly basis. Yes, there are members who are ignorant like so too, but very few. Read those reviews (usually in the comment section of these bogus articles) by members themselves, who have nothing to gain by putting a good word about BCN online. Those there are your genuine tried-and-tested reviews. Not the one you just shared.
I know it's an old post, but still: this is absolutely not true. There can't be any best reviews about BCN for the following reasons: those who haven't tried them obviously can only judge by what they see, thus having an incomplete image of the whole thing.

But what's even worse: those who are with them can't be trusted. Because of the MLM structure, they have a strong interest to skew the facts and lure others in, as they make money off of them. They have no incentive to criticize them; even worse: if they're operating at a loss, they'd be even more inclined to lie about it and say something good, so new members joining under them compensate their loss. They have a conflict of interest, and that's why the members are those least to be trusted when reading a review.

Edit:
Any business/organisation that uses fake testimonials including pictures of convicted rapists is quite obviously a scam. Nothing any BCN shill says can change that.
This.

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Use cointracking.info for tax declaration & tracking of your trades!
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September 02, 2019, 10:03:45 AM
 #210

Website went offline ....
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December 10, 2019, 10:37:35 PM
Last edit: December 11, 2019, 01:37:49 AM by tmfp
Merited by cryptodevil (4), IconFirm (1), elokk (1), CoinClarity (1)
 #211

https://www.bloomberg.com/news/articles/2019-12-10/three-men-are-charged-in-722-million-cryptocurrency-fraud

Three Men Are Charged in $722 Million Cryptocurrency Fraud

Quote
Three men were charged by U.S. prosecutors with helping run a $722 million cryptocurrency fraud that amounted to a “high-tech Ponzi scheme.”

From 2014 until this month, the men operated BitClub Network, which solicited money from investors in exchange for shares in purported cryptocurrency mining pools and rewarded them for recruiting new investors, according to prosecutors.

Quote
Matthew Brent Goettsche, 37, Jobadiah Sinclair Weeks, 38, and Joseph Frank Abel, 49, were arrested Tuesday and charged with conspiracy, U.S. Attorney Craig Carpenito in New Jersey said in a statement. Two more defendants, whose names weren’t disclosed, remain at large.

Goettsche referred to potential BitClub Network investors as “dumb” and “sheep,” saying he was “building this whole model on the backs of idiots,” according to the statement. In September 2017, Goettsche sent an email to a co-conspirator in which he suggested BitClub Network would allow them to “retire RAF!!! (rich as f*ck),” prosecutors said.

Goettsche and Weeks are charged with conspiracy to commit wire fraud, while all three men are facing charges of conspiracy to sell unregistered securities.

Quote
The case is U.S. v. Goettsche, 19-cr-00877, U.S. District Court, District of New Jersey (Newark).

Happy Fucking Christmas, you bunch of thieving, lying cunts.


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December 10, 2019, 11:19:24 PM
Last edit: December 11, 2019, 01:36:31 AM by tmfp
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 #212




Nearly five years, I've been waiting for this bunch of totally odious shitbags to get their comeuppance. I rarely get emotionally involved in research, but the thought of Joby Weeks going to prison for a long long time...... Grin









https://www.justice.gov/usao-nj/press-release/file/1224926/download

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December 10, 2019, 11:59:32 PM
Last edit: December 11, 2019, 11:47:36 PM by tmfp
 #213

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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December 11, 2019, 09:34:03 AM
 #214

Happy Fucking Christmas, you bunch of thieving, lying cunts.

I can't believe how long this went on for, when this thread first started it was so obviously a scam I thought it would be a few months.

Just saw a news article about the arrests and remembered your original post, 2015 wow.

Got there in the end, well done tmfp, I know a lot of people have been scammed but hopefully your excellent research saved quite a lot more.

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December 11, 2019, 02:01:25 PM
 #215

Happy Fucking Christmas, you bunch of thieving, lying cunts.

I can't believe how long this went on for, when this thread first started it was so obviously a scam I thought it would be a few months.

Just saw a news article about the arrests and remembered your original post, 2015 wow.

Got there in the end, well done tmfp, I know a lot of people have been scammed but hopefully your excellent research saved quite a lot more.

Agreed, three years for the US Prosecutors to take action is a fine example of how slow & incompetent they are. Had they visited this thread three years ago they could have saved a lot of gullible people a lot of money.

Oh well. At least they got there in the end I suppose.

Kudos to tmfp yet again.

PIA went evil: https://bitcointalk.org/index.php?topic=5203968.msg53160131#msg53160131 Unofficial & Uncensored SYSCOIN thread: https://bitcointalk.org/index.php?topic=4748031.0    Do not trust Yobit/HitBTC/BiteBTC/coinsbit/p2pb2b/Mercatox/C-cex/Poloniex/WEX/KuCoin/LiveCoin/TheRockTrading/Bitfinex/ADAB/Okex/TradeSatoshi/Gate.io/Changelly/Freewallet.org/crex24 scam exchanges or ICO's by known scammers like HashCoins/Ambisafe/Bountyhive - they WILL scam you! Use diligence & research. Buy coins, sell coins - don't invest in stupid shit. If your questions aren't answered - don't touch it.
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December 11, 2019, 11:05:52 PM
 #216

The last line...



Step aside Godfather, we have an Oscar dialogue here....


You mentioned this Balaci guy, from that article he owns evobits
https://www.listafirme.ro/evobits-information-technology-srl-33766781/
I hope google translate isn't messing with me but it seems like they are doing 15 million in revenue and 3 million in net profit?

Might be a name coincidence but I'm getting only 5-6 hits on that name on FB, I wonder how common this name is in Romania.
But we will find out pretty soon:

Quote
NOTE: A fourth defendant, Silviu Catalin Balaci, was arrested in Germany after the issuance of this press release. The attached indictment has been amended to reflect this
Oh never mind, even the middle name is the same.

Btw it is just me or seems like this month a lot of scams are biting the dust? Grin




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December 11, 2019, 11:40:30 PM
 #217

Btw it is just me or seems like this month a lot of scams are biting the dust? Grin

If you mean by arrests then it could be the fact that it's the end of the year, and the authorities want to make arrest before holidays start. There's also a risk the people they want to arrest could travel to warm and distant countries for holidays and stay there if they caught the whiff they're in trouble.

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December 12, 2019, 12:18:06 AM
 #218


Agreed, three years for the US Prosecutors to take action is a fine example of how slow & incompetent they are. Had they visited this thread three years ago they could have saved a lot of gullible people a lot of money.

Oh well. At least they got there in the end I suppose.

Kudos to tmfp yet again.

It's not that they are slow, it's that they want the win.

A lot of the time with a lot of cases you never know the outcome you have lawyers arguing both sides. When the US attorneys show up with a big fraud case you know how it ends. They go in for the kill so it takes time. A lot of time. Kind of like with GAW, everyone knew it was coming but it took a long time to get there. Now we can debate if it was a long enough prison term, but the end was never in doubt.

-Dave

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December 12, 2019, 01:25:36 AM
 #219



Btw it is just me or seems like this month a lot of scams are biting the dust? Grin




They're filling up their year end quota lol.

Glad that arrests were made though it could've been a lot sooner. Now all other scammers should know that it's only a matter of time till they too bit the dust.


 Now we can debate if it was a long enough prison term, but the end was never in doubt.

-Dave

Dont think they will spend long though. I reckon 2- 3 years maybe less.

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December 12, 2019, 06:20:23 AM
Merited by CoinClarity (1)
 #220

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...

99Bitcoins - We translate Bitcoin into plain English.

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