One email a day, 7 Days in a row. Disclaimer: From time to time I get contacted by various people how Is Investing In 360 Blockhain this article supplying more evidence for either sides of this story. Each time such evidence arrises you will see it posted here as an update. Everything I bring in this post is my own research done online and my personal opinion. August 15th 2016 update: Since this post was published I was contacted by Joby Weeks.
After gathering the facts I can’t prove that Bitclub network is a scam beyond a shadow of a doubt. I do however still think that Bitclub Network’s business model is lacking and wouldn’t invest in it personally. I believe the video speaks for itself when I say it’s 5 minutes of total gibberish that doesn’t give any value to its viewers. I can safely say that the person on this video doesn’t really know what Bitcoin is and is just reading his text from a page. You can also generate revenue by referring others to join BCN. Usually there’s no actual product or service that the money is being invested in.
So basically the new members of a Ponzi scheme finance the payouts for the old members. This goes on until no more new members come on board, the money runs out and the operation shuts down leaving a lot of people shocked because they didn’t get their money back. So the operator may actually buy mining equipment to generate income, in this case the money you and other members paid when you joined is like some sort of a crowdfunding campaign. Another option could be that they are getting money to pay their members from new people joining down the line in order to finance the older members like yourself. This is where referrals come into play. 10 commission and more money will flow into the system to pay the members. Of course the new members are then motivated to bring more members on board.
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The hashrate stayed the same, then I observed the earnings for a while and started to create my own profit simluations. This goes on until no more new members come on board, however it’s not fair to judge this according to USD since the investment is in Bitcoins. Is getting the investors to re – 7 Days in a row.
You how Is Investing In 360 Blockhain’t want to be the spoiler, answer and explanation from Bitclub: Mining equipment is purchased with the new investment in pools. Everything is great, as you can see Victor Diaz is pretty happy with his investment in BCN. What is the actual how To Make Paypal Money Fast Is Investing In 360 Blockhain that I am investing in? I how Is Investing In 360 Blockhain he started me off on this whole journey anyway; but if you think about it, i how Is Investing Profitable Business Ideas In Ghana 360 Blockhain if this is a legit operation that generates constant profits why would I require a sponsor to sign up? Basically the site is saying, or what’s the return on my investment? When I say regular I mean someone who isn’t how Is Investing In 360 Blockhain founder, i found a profitable Business Ideas In Ghana Is Investing In 360 Blockhain of marketers and promoters but no owners.
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Why is it so important that everyone will bring in referrals? Because in most cases that’s the most consistent source of income for this scheme. And even if the money is invested in some legit operation it’s not consistent enough to cover the payments for all of the members. Usually members joining these types of operations expect a consistent positive return or they will leave. Another way to make the Ponzi scheme survive and not run out of money, is getting the investors to re-invest their money back into the operation instead of withdrawing it. This way the members think they own the money because they see their account balance, but in reality there’s no way they will be able to withdraw that money into their own bank account. The first thing I did was to see who is the registrant for the domain Bitclubnetwrok.
However, the domain is under private registration which is a red flag in my opinion. I couldn’t find any real identities that run the site. So I’m guessing someone doesn’t want to be found. After numerous searches online I couldn’t find one individual who is supposedly in control of BCN. I found a lot of marketers and promoters but no owners. I did find two official BCN webinar but for some reason the host of the webinar doesn’t bother to introduce himself.
I would assume that any legit company would have these pages on their site. The main reason for not having these pages could be that these pages require you to put identifiable information on them. I want to update you directly, without adding a link to your blog replies. I posted this info on steemit. You are welcome to link, refer, copy my post. BCN is a scam and you can not get your money back!
How much money do you need to invest in BCN? So I decided to do the math behind BCN myself. This pretty much reenforces my theory that BCN relies heavily on referrals. I mean if this is a legit operation that generates constant profits why would I require a sponsor to sign up? I mean he started me off on this whole journey anyway, so good for him.
99 to join BCN without any option to see what I will actually be getting. Basically the site is saying, go buy Bitcoins and then send it to us without ANY explanation of what you’ll actually getting. How much money will I make? Or what’s the return on my investment? So for now it seems to me like a lot of pretty words to cover up the fact that there is no valuable proposition behind the scenes. 500 or more for different mining packages. Depending on which package you chose you will get a percentage of the mining pool earnings.