Over the last few months, I’ve found myself writing more and more negatively about Bitclub Network – something that I’m uncomfortable with, considering that since 2015, I’ve always been a loyal and hardworking member. The truth is, I am nowhere near as enthusiastic about Bitclub’s offering, or prospects, as I once was.
There are very good reasons for this.
For one thing, the mining earnings are disappointing – and have been for some time.
For another, hardly any of the promises of new products have seen the light of day.
For another, I sense a lack of direction as to a way forward.
And for another, I sense a real lack of passion and drive from the founders or co-founders.
Whereas we used to see videos of presentations or interviews on You Tube, today we see nothing.
Whereas we used to hear of visits of members to the bitcoin mining facility in Rekjavik in Iceland, today, nothing of the sort.
Whereas we used to hear of company events in Dubai and incentive trips planned, today, not a word…
As I’ve mentioned in previous blogs, my colleague and I administer a sizeable Bitclub Network team, and whilst the majority of our team members remain quiet (likely due to a lack of understanding), there are a growing number of people within our team who are expressing their displeasure at how things are turning out, or have turned out.
No-one can blame them for doing so.
There are thousands of people in South Africa who have parted with their hard-earned money buying shares in Bitclub Network mining pools, and many of them are now querying why they did so. Hardly a day goes by in which we don’t hear of members wanting their money back.
And what do we hear from Bitclub Network itself? Hardly anything. Yes there are occasional updates (not nearly enough in my opinion) and yes there are reasons given for why this and that is happening, or not happening, but there is NOTHING to excite members like there used to be when I first joined as a member in 2015.
And now, to our dismay, we see that Bitclub Network is no longer appearing on the Blockchain bitcoin mining pie chart; a chart displaying the hashrate distribution amongst the largest bitcoin mining pools. This is something that is of considerable consternation to a number of people in our team, and I’m sure, to many people who are not.
My colleague and I have been watching with concern how from occupying 7th or 8th position on the pie chart, we have of late down to occupying 2nd last or last position, hitting just 3 – or fewer – blocks a day. Not good. And now even worse, we have dropped off the hashrate distribution pie chart altogether….meaning that we are not hitting ANY blocks, and meaning that we are no longer amongst the most popular bitcoin mining pools…
See the pie chart on www.blockchain.com
No sign of Bitclub Network, as you will see!
Now I don’t profess to possess a great knowledge of Bitcoin mining, but I certainly hope that there is a reason for our dismal mining performance, and that we will soon be seeing the name “Bitclub Network” reappear on the chart and taking its rightful place amongst the top Bitcoin mining operations. If not, I anticipate growing disillusionment amongst members for sure..
Other Bitcoin mining companies seem to be hitting a decent number of blocks per day. Why not Bitclub Network?
One of our (more vocal) team members asked the question a few days back: If Bitclub is hitting only a few blocks per day, how are they managing to pay members? And whether if paying members through the sale of new mining pool shares, that does not constitute a PONZI scheme? This question really took me back because I have NEVER thought of Bitclub Network as a Ponzi scheme or pyramid scheme. (To my mind, a Ponzi or pyramid scheme is where money is made and distributed only through the recruiting of others. In other words, there is no product. With Bitclub, there are two products – Bitcoin mining and Bitcoin trading. This alone ensures that Bitclub CANNOT be classified as a ponzi scheme!
This said, if there is no mining happening, well then, questions arise…
Let’s just HOPE that Bitclub reappears on the hashrate distribution pie chart sooner rather than later…within DAYS if possible, and that the reason for us dropping off is communicated to members as a matter of great urgency.
I really look forward to writing positively about Bitclub Network again because I’m a believer in the organisation. But the leaders really need to up their game and do what needs to be done.
If the Bitcoin price rises significantly over the next few months and Bitclub’s mining earnings do not, expect to hear a growing crescendo of complaints.
People have invested a lot of money in mining pools in South Africa and deserve to be decently rewarded. As things stand, they are earning a pittance.
Those within Bitclub who are still selling mining pool shares (I am NOT one of them) should at all times make prospective buyers aware that whilst Bitclub’s compensation plan is good (generous even), its mining earnings are not at all attractive. Honesty to people about to part with their hard-earned money is all that is asked for.
I look forward to writing more positive news next time!
Gerard Kavonic was one of the first people to join Bitclub Network South Africa in 2015. He has the rank of Master Builder. He has two websites: www.bitclub.co.za and www.bitclubblog.com and co-administers a sizeable team around the world with his business partner and colleague, Derek. Anyone wanting to join BitClub Network as a paid member must register as a free member first. If you’ve already been introduced to BitClub Network, you should register under that person, assuming that he or she has a good understanding of the business. (This is hugely important!). 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