This might seem a strange question, but it’s one that I grapple with…and have grappled with for some time.
When Bitclub Network launched in South Africa in 2015 (I joined almost immediately), I would not have hesitated to bring a new person on board. Why? Because it was just a brilliant business, and joining Bitclub would have been a win for the new member, and a win for myself, seeing that I was building a team.
Back then, the mining returns were excellent. Between 3% and 5% per month. The compensation plan was brilliant too – probably the best in the network marketing or affiliate marketing industry. (It still is. Bitclub Network’s compensation plan is unrivalled in my estimation).
So why my hesitation today? Because in my opinion (an opinion shared by many South African leaders in Bitclub Network in South Africa), the business has gone backwards. Or to be kind – stagnated.
The mining returns are really poor (admitted to by the co-founder of Bitclub himself) and there is still no sight of the initiatives that were in the throes of being launched at the beginning of last year.
The result of this is mass frustration. Certainly amongst members of the team that we have built over the last four years. And certainly among many of the South African leaders who have moved on to greener pastures.
I, personally, have not left. My loyalty remains intact. Yes, I am more focussed on my other cryptocurrency business – which I am seriously excited about – but my concerns grow deeper by the day. Especially after seeing how badly Bitclub is performing on the mining side. (Anyone can see this by going to www.blockchain.com and taking a look at the piechart (shown above). The last few days have seen us occupy if not worst in terms of blocks mined, then second or third worst. One block mined per day to be exact. Not very good. Just a few months ago, we were mining between 5 and 8 blocks a day. And before then, considerably more than that.
Bottom line is we just seem to be going sideways, or even backwards, with nothing much to report.
Yes, there’s been a recent update. Yes, there appears to be a bit of light here and there…but overall, it’s not a great picture. As you’ll see from excerpts taken from the update below:
July 22nd, 2019 – Big Updates – Please Read!
Included in this update…
BTC Mining Pool Status
Bitcoin Mining Pool
Bitcoin Mining is also difficult right now because of the same power situation. Over the past few months we have seen numerous energy contracts expire and the renewals are at a much higher rate, which forces us to either shut them down and wait or move them. To date there is over (edited) PH sitting cold in various facilities around the world that we cannot turn on (or chose not to because the situation is not profitable). It has been very frustrating getting these online because it seems once we get momentum going we shut down another facility and we are fighting just to keep as much power online as we can. When we started we only had a few facilities to manage it was easy to expand, but with our hypergrowth in the last quarter of 2017 we had massive deployment obligations in 2018 that really hurt us when the market turned south. We have been fighting to get out of this hole ever since. We have solutions to get more power online and continue to expand, but we need the market to stay strong because if we get into another situation where the difficulty goes up too fast, and the price crashes then we may not be able to sustain another loss like we took in 2018. If we don’t see some resolution within the next few months we may have to stop selling new mining contracts and just focus on expanding what we have and paying out all the contracts for the remainder of their days. We will continue to work at this and do whatever we can to fulfill our obligations. We wish there was better news to report but this is the reality of where we sit right now.
The reality is that Bitcoin mining has been undergoing challenging times of late, and Bitclub Network has suffered the consequences. As have all the other Bitcoin mining operations. At least we have not shut down, as have others. At least, we have not lost our money. As have investors in certain other Bitcoin mining operations.
But back to the question posed in the headline: What to say to someone wanting to join Bitclub Network in the current circumstances? (A conversation that I had with a gentleman who called me last night made me think hard about this…)
It really depends on your intention: do you just want to MINE Bitcoin? Or do you want to MINE BITCOIN and also, introduce others and build a team? If you just want to MINE Bitcoin, think twice. If you want to mine Bitcoin AND BUILD A TEAM, go ahead and join – simply because the compensation plan is excellent, as mentioned earlier. But be aware of the risks, and think medium term and long term – NOT short term.
For me, tt’s all about being honest and giving the best advice as one can.
In the meantime, I’ll end with a similar ending as my last blog:
Maybe if the Bitcoin price continues its upward trajectory, and increases significantly, Bitclub Network will have a happier story to tell…Until then, though, I’ll be focussed on my – extremely exciting – gold-backed cryptocurrency business!
Gerard Kavonic was one of the first people to join Bitclub Network South Africa in 2015. He holds the rank of Master Builder. He has two websites: www.bitclub.co.za and www.bitclubblog.com Anyone wanting to join BitClub Network as a paid member must register as a free member first. If you’ve already been introduced to the opportunity, you should register under that person, assuming that he or she has a good understanding of the business. If you don’t have anyone to register under, you’re welcome to join under username GERARD or on the following link: https://bitclubnetwork.com/gerard/signup.html Gerard can be reached on +27 83 444 9888 and on email@example.com and firstname.lastname@example.org