Magic Money: The Bitcoin Revolution
Exploring the revolutionary Bitcoin digital currency. It doesn’t need banks or to be printed. It can be transferred in a second to anywhere in the world. With global financial instability in the headlines daily, more and more people are taking their money away from the banks. Is Bitcoin the only way forward? Magic Money paints a future where control of our money is taken away from global institutions and given back to us.
With “money at the core of our existence”, comes an examination into a product easier to use and more revolutionary than email. A product hailed by Bitcoin entrepreneur Roger Ver as the “the most revolutionary technology you’ll see in your lifetime.” From the birth of its unidentified creator, Satoshi Nakamoto, to bitcoin’s unprecedented potential today to transcend any restriction through a unique push system, a fascinating tale of bold creativity emerges.
Bitcoin is definitely the largest innovation in monetary science since Isaac Newtons Gold Standard!
If you’ve found your way to this BitClub Network Opportunity page then chances are you’re here for 1 of 2 reasons:
- You’re doing your research before you join BitClub Network and you want to make sure there isn’t a BitClub Network scam… OR-
- You’re already in BitClub Network and you’re looking for some support to maximize your chances for success.
Either way, congratulations because you’re in the right place!
BitClub Network is a private group of business people, experts, investors, entrepreneurs, technology experts, programmers and network marketers who have formed a very simple and exclusive club around a very sophisticated concept of cryptocurrency, who understand this market. We have put together a very simple business model well it’s actually pretty complex under the hood but very simple for you to profit from our expertise in this industry.
Right now, BitClub Network is open to the public and is the ONLY program that allows people to begin earning a passive income by taking advantage of the BCN Bitcoin mining and other Bitcoin related services.
Have you started accumulating the Bitcoins yet? By now just about everyone’s heard something about Bitcoin but most people don’t really understand it. The whole concept of this new digital currency and the mining process which is a string of high-powered servers that do millions of calculations per second to verify, validate and secure each transaction can be overwhelming. It almost sounds like something from a science fiction movie but the truth is Bitcoin is the future of money.
There are already hundreds of thousands of businesses that accept Bitcoin and it’s growing daily. Here just a few billion dollar per year companies that are now accepting Bitcoin : Dell computers, expedia.com, Dish Network and others … Ok so let’s get to the point how can you capitalize on this exploding trend?
Introducing BitClub Network
You’re about to discover a cutting-edge passive income in a referral based company that will teach you how to cash in on Bitcoin and other digital currencies. We use our programming supremacy massive leverage and purchasing power together to create profitable opportunities for our members. Right now there’s a window of opportunity to make big profits by helping to build up the Bitcoin economy. We are literally in a digital gold rush and huge companies are rushing in spending billions of dollars to build everything from large-scale mining operations, digital wallets and even entire ATM networks, etc. So we are truly in the right place at the right time.
How we all make money together?
Bitcoin mining is very expensive and it takes a huge budget to make money doing it. You must be able to buy the hardware equipment in bulk at a big discount, from the right source and even more important: You have to know how to keep the mining running to maximize profits.
What makes Bitclub special? 3 things
First : we have created our own proprietary software that controls mining hardware and uses it to mine for the most profitable coin in that moment. So it’s not just Bitcoin but dozen of digital currencies converted back into Bitcoin instantly. This allows us to be more profitable than most mining ports while also diversifying into other digital currencies like Litecoin, Dodgecoin, Blackcoin going to name a few…
Second : strategic purchasing power. Most mines make a less and less every month because of the equipment used to mine becomes less productive because calculations that require more computing power to work. So you could go for making a profit to losing money in only a few months if you don’t continue to expand and maximize your efficiency, since we are a giant pool of people coming together, we will continue to stay on the cutting edge for years to come buying the newest and best equipment at the lowest prices.
Third : we pay referral commissions. You can get paid for referring new Bitclub members. Not only you get paid when someone gets into mining pools but you’ll also get paid on all the coins they’ve earned. This can get really big just by sharing it with a few people. How many people do you know who would like to purchase a share one time and earn profits for years to come? + did we mention this is just one of many ways Bitclub members make money in the digital currency industry.
Our Mission: To help YOU cash-in on Bitcoin as it becomes a mainstream global currency.
Glimpse of the Past, the Present, the Future – Why Bitcoin is Hottest 2017! Experts – Investors – Traders – Reviews
Earn Passive Bitcoin…
BitClub Network is helping to educate, provide services for, and ultimately profit from the crypto currency market.
Our goal is to provide many opportunities for our members to take part in. One of the main ways to earn Bitcoin is through our mining pools.
It works like this… You purchase a share in any of our mining pools and all Bitcoin mined from each pool is paid to you daily and shared with all members who are eligible for the pool. You can purchase shares for either $500, $1,000, or $2,000 worth of Bitcoin
Any purchase is used to buy actual mining equipment that you will own. The mining equipment models are always changing and the amount of hashing power that you get can vary greatly from order to order.
You have a choice to take possession of any machines you purchase, or you can allow BitClub Network to run them for you in our pool. Most people chose to run them through our pool because it’s cheaper, more efficient and more profitable, but if you are a miner and would like to receive the hardware we are happy to ship it to you.
With your purchase you will receive Bitcoin for a total of 600 1,000 days! A percentage of all Bitcoin mined will be used to pay for mining costs and to purchase new mining equipment. This percentage depends on the pool buy into and is the key factor in our mining operation.
BitClub Network’s main objective is to help educate the masses on the massive emerging crypto currency trend and provide new opportunities for you to participate, which will give you both short-term and long-term gains. One of the easiest ways to earn is through the very lucrative BitClub Network passive income Bitcoin mining pools. You can share this with others earning even more Bitcoins. In addition, we provide a global merchant platform for any business that wishes to accept digital currencies earning you even more Bitcoins. You can even use our arbitrage trading software to earn Bitcoins.
Here’s how the bitcoin mining works… You can purchase shares in 3 different mining pools and the profits earned from each pool will be paid based on which pool you participate in. You pay a one time $500, $1,000, or $2,000 USD to receive your share of the mining pool profits.
With your purchase you will receive a share of profits from the mine! A percentage of all Bitcoin profits earned from the actual mining process will be used to purchase new equipment and managing the expansion of the mining operations.
*No Sponsoring Required to Earn Mining Pool Payouts
Many people LOVE the idea of accumulating Bitcoin. The problem is that it could cost millions of dollars to get set up with all the infrastructure, hardware, software and other assets necessary to run a successful Bitcoin mining operation. Most people just flat out can’t afford to do it.
Unlike other mining pools, BitClub Network offers a very effective way for our club members to share in the profits of multiple mining pools every day. BCN uses a referral based system which allows everyone to work and grow together while mining Bitcoins and leveraging a system to help expand and grow their mining operation.
BitClub Network has perfected a strategy where they utilize their own high-tech software that allows them to mine for hundreds of different digital currencies and then converts them into Bitcoin on a daily basis.
This exclusive proprietary software that BCN solely and completely owns and operates mines only the most valuable crypto currency based on real-time market conditions and value. This allows BitClub Network to maximize your profits while minimizing costs while also diversifying into other virtual currencies.
Simply put: Maximum potential profits and gains with absolutely no expertise or effort on your part! To date, there is currently no other software in existence of this type and no way to duplicate it.
BitClub Mining Pools
Mining Pool #1 — Each share cost $500 USD that will be used to purchase new Bitcoin mining servers. All Bitcoin earned will be split among all
members of this pool and paid out daily. Each share earns 50% profit with the other 50% being used to fund the mining operation costs and to purchase additional mining shares.
Mining Pool #2 — Each share cost $1,000 USD and just like Pool #1 the total Bitcoin earned will be split among all members in the pool and paid out. Each share earns 60% profit with the other 40% being used to fund the mining operation and to purchase additional mining shares.
Mining Pool #3 — Each share cost $2,000 USD and the total Bitcoin earned will be split among all members in the pool and paid out. Each share earns 70% profit with the other 30% being used to fund the mining operation and to purchase additional mining shares.
Example: Using Mine #1, if the total Bitcoin mined for the day = 1 BTC and there are 100 shares outstanding then each share would earn .01 BTC. From this total 50% of it would be paid directly to member as profit (.005 BTC) and the other 50% (.005 BTC) would be used to fund the mining operation costs and to purchase additional shares (which are used to buy more equipment)
So if the value of 1 Bitcoin = $500 USD and you have 1 share then you would earn $5 USD (.01 BTC) of which $2.50 is paid to you and $2.50 is used to purchase an additional share on your behalf. In this case you would purchase an additional .005 shares with your $2.50 and you would have a total of 1.005 shares going into the next day that you are now earning on.
IMPORTANT: Each full share purchased will last for
600 1,000 days. The reason we set this to 1,000 days is due to to the constant increase in calculations and computing power required as it gets harder and harder to mine Bitcoin. Therefore, we have identified this 1,000 day window as an ideal time frame based on how the market is today and this maybe subject to change on future partial shares repurchases. (this is subject to change based on market conditions)
Timing is Right Now…
Today almost everyone has access to the Internet and uses it everyday. In the first few years of the Internet everyone knew about it but most people hesitated in jumping in until it became “mainstream.” That is exactly where Bitcoin is right now
We are at the very beginning of Bitcoin, Blockchain technology and the new concept of Digital Currency, Digital Smart Contracts, and more. This technology has the power to transform how we do business, store records, transfer value, and much much more that we have not even thought of yet.
Bitcoin is here to stay!
BitClub Network offers a real opportunity to cash in on this technology, there is nothing else like this in the market. We have a worldwide network of people that we are turning on daily to use digital currency and as we grow bigger we have been introducing new revenue streams for our members to leverage.
Things like our Ethereum Mining Pool, ClubCoin, and our Smart Payment App that will help members cash in on bringing new merchants into the ecosystem. We are just getting started with BitClub Network and you don’t want to miss your chance to leverage this new technology and make some money!
BitClub Network Review: BCN At A Glance
BitClub Network is picking up a lot of traction right now in the MLM and Network Marketing industry for a few reasons. The reality is that, while those industries are great, very few people get the results they are looking for. And while we could debate for days about why people don’t succeed in MLM, we will put it bluntly: WHEN YOU DON’T MAKE MONEY, YOU EVENTUALLY QUIT!
So here’s how BCN is changing the game.
BitClub Network Game Changer #1: Make Money Every Day (without recruiting)
One of the key factors to why so many people fail or quit in MLM is because they don’t make enough money to sustain their costs of doing business. BCN has virtually eliminated this problem with their ‘mining pools’. Everyday, Bitclub Network mines Bitcoins, and everyday, you earn income.
BitClub Network Game Changer #2: No Costly Auto-ships to Maintain
Unlike 99.9% of all the MLMs out there, Bitclub Network has no monthly “auto-ship” or cost associated with it. Once you’re in, you’re in! Just join BitClub Network, buy into 1, 2, or all 3 mining pools, sit back and watch your account grow!
BitClub Network Game Changer #3: One-Time Low Cost of Entry
Lifetime membership to BitClub Network is only $99, ONE-TIME. There are no hidden costs or fees associated with BitClub Network.
BitClub Network Game Changer #4: No-Frills, No ‘Gotchas’ Compensation Plan
The BitClub Network compensation plan is as straight forward as it gets. No ‘gotchas’, No frills.
Let’s quickly recap the power behind BCN:
- 100% of the people make money every day
- No overpriced hyped products to force upon your friends and family
- One-time membership of $99 and once you’re in… you’re in for life
- No BS compensation plan
Bitclub Network Review: Should I Join BitClub Network?
One of the coolest things about BitClub Network is this: You must have Bitcoin to join BitClub Network. If you don’t have any Bitcoin you can easily access some from Blockchain.info, Coinbase.com, XAPO.com, etc.
After you’ve set up your account with either of the above 3 websites, make sure you get enough Bitcoin to cover your enrollment fee and shares in the mining pools.
For example, if you just want to participate in Mining Pool 1, make sure you get at least $599 worth of Bitcoin ($500 share & $99 one time fee package). It’s our suggestion that the best way to join is with $3,599. $99 one time club membership fee plus 1 share in each mining pool: $500 + $1000 + $2000
To learn more visit the BCN FAQ’s in the lower half of this page.
BitClub Network Compensation Plan
A lot of questions come up about the legitimacy of BitClub Network and the Bitclub Network compensation plan. Here’s the answer: It’s already legal to join mining pools. Right now you can join any open mining pool out there and start accumulating Bitcoin every day. The problem is that you won’t make as much, generally speaking, and you never get compensated for your referrals. So BitClub Network is just like any other mining pool out there except you have a greater earning potential… and if you understand leverage, and the power of building a BCN Team… then you simply can amplify your results, big time.
If you have not yet done so, we highly recommend watching the 5-minute BitClub Network overview video below so you can have a good understanding of the business before diving into the BitClub Network Compensation Plan. You will find the Bitclub Opportunity video on our home page.
As long as you have purchased at least one share in any of the 3 mining pools, you are good to go. When people earn income everyday, they tend to spread the word very fast, which is why BCN is literally going viral right now. And for your referrals… you get HUGE rewards!
To join BitClub Network all you need to do is enroll, pay the one-time $99 membership and marketing fee. This fee gives you full access to all the marketing tools, replicated websites, back office software, and all resources BitClub Network have to offer. Then you need to purchase a share in any of the three mining pools.
One of the key draws to BitClub Network is the ability for potentially EVERYBODY to make money… whether you’re a big time recruiter or not! Let’s face it, most people are not. In BCN you can literally buy into the pools and kick back and if you do nothing else, at least you’ll be earning BitCoin every day.
But here’s the cool thing… once you start making money, it becomes a lot easier to sponsor new people into your BCN biz.
The BitClub Comp Plan is simple and easy to understand. There are 3 powerful ways to get paid in BCN and it’s best to break it down like this:
- Passive Income – Earn daily profits from Bitcoin mining
- Active Income – Earn income from the team that you build
- Leveraged Income – Earn income from the efforts of other people
Although BCN is straight forward in how it’s put together, you are still going to want to choose a Sponsor with experience, proven track record and success in Bitclub Network and join a team that knows how to create momentum and provide you with the BEST possible chances for BitClub Success. You must ensure that you join a team that can help you maximize your results through ongoing support, trainings, systems, lead generation, advertising co-ops, email templates, etc.
Looking For A Bitclub Network Sponsor? Look No Further!
BCN Centurion Club
“When we joined we had no idea of the huge opportunity BitClub Network could afford us. I would recommend BitClub Network to anyone wishing to increase there income and financial future!” – Mike J., Los Angeles California
“When I joined BitClub I knew nothing about Bitcoin or Digital Currencies but now I am making money everyday and telling everyone I know about this.” – Amy A., Timisoara, Romania
“We have been looking for a passive income opportunity for years and finally BitClub Network was introduced to us. This is truly an incredible way to accumulate Bitcoin.” – Mike & Sara S., Frankfurt, Germany
“Thank you, Thank you, THANK YOU!!! BitClub has been a lifesaver for me. I am disabled and can’t work anymore so I really need passive income and BitClub has delivered for me” – Victor D., Brazil
Bitclub Network is indeed an opportunity that will keep on earning not only for you, but your children’s children -not only thru the mining activity, but also thru the additional income created from the network.
What is really appealing, is the fact that unlike other Cloud Mining opportunities available, you will not only make your money back on your initial investment, but you will also earn daily from the members that either directly, or indirectly have been placed in your spillover-matrix.
If this is something that you think might be for you, please contact us and allow us to assist you to join this amazing opportunity!
BITCLUB NETWORK FAQ’S
Q – How to Join BitClub Network?
A: In order to join BitClub Network you must get Bitcoin to pay with! We do not accept anything other than Bitcoin so depending on the country you live in you must convert your currency into Bitcoin and then use the Bitcoin to sign up for BitClub Network. We price everything in USD so that we have a standard price for our products (but we do not accept USD or any other fiat currency).
To sign up you will need pay a one time $99 USD membership fee that will give you lifetime access to our platform and allow you to participate in our mining pool shares and any other opportunity we provide in the future. You must pay this first to activate your account before purchasing any other products.
Q – How Do I Buy Bitcoin?
A: There are many ways you can do this and they all depend on where you are located. With the growing worldwide market and demand for Bitcoin it’s becoming easier everyday to find reliable sources to purchase Bitcoin. The first thing you want to do is set up a Bitcoin wallet. If you can find one that offers an ATM network in your local area that is usually the fastest way to get Bitcoin. You will purchase Bitcoin at the market price being offered and you may want to load your account all at once so that you minimize your fees. (for instance if you plan to purchase mining pool shares then it’s a good idea to get enough Bitcoin to make all purchases). Contact us for more information here.
*IMPORTANT: You want to make sure you select an exchange or a wallet that will allow you to convert easily back to your local currency.
Q – How Do I Set Up a Bitcoin Account / Wallet?
A: There are many different options available for you to set up your own wallet. This is like deciding which bank you want to use, most wallets offer the same services and they are free to use so you just need to pick one that you like and feel comfortable with. There are also options to have wallets stored on your computer or even offline in the form of paper wallets. Security is the most important thing when choosing a wallet and here are some popular 3rd party wallets
- BlockChain – Global Solution – THE BEST and our Favorite!
- Xapo – Solid security, a global solution and provides a vault
- Circle – Best for using Credit or Debit Cards to buy Bitcoin
- Coinbase – The biggest wallet and great for US bank wires
- BitStamp – Best for EU bank wires and EU customers
- Coins.ph – Very cutting edge wallet with ATM network (Philippines)
- Do a search locally for a good wallet, something that gives you liquidity to buy and sell easily.
Here is another good resource for choosing a wallet – Bitcoin.org
Q – What is BitClub Network’s Refund Policy?
A: We have a very strict refund policy due to the speed at which our compensation structure and mining pool earnings are paid out. In most cases you cannot get a refund for any reason unless there is a clear mistake or very good reason for it. Also, this refund request must happen within the first 72 hours of payment or before 3 full pay cycles are paid out. If a refund request is made after this time we will not honor it, however we do offer another option.
Buyout Option: If you would like to buy out of your mining pool you have an option to do so at anytime during the first full year of your membership. This is NOT a refund, rather this you requesting to take possession of the mining equipment that you have purchased with your share of the pool. In this case you will automatically forfeit all future mining pool earnings in all pools, including earning any commissions from the compensation structure. With this buy out option you will be shipped the sum of all your hashing power at the time you request the buyout. You will take full possession of these miners and will still be eligible for any remaining warranty on the machines. When exercising this option, its final! You will own the mining equipment and be fully responsible for it. If you are interested please open a support ticket and request a valuation of your account. You will be responsible for all shipping and handling charges.
Q – Can BitClub Network Verify Mining?
A: YES! We have a public mining pool where you can track our hashing power in real time – www.BitClubPool.com
As our membership base grows bigger, so does our mining pool and you will see more hashing power being added to our pool website, which you can track in real time. Having more hashing power allows us to hit more blocks on a daily/weekly basis. You can also verify our pool with the following third party resources.
Q – How Does BitClub’s Mining Pool Work?
A: If you are not familiar with bitcoin mining here is a very basic overview… Every 10 minutes a new block of 25 Bitcoin is found by someone in the network who is hashing. In order to find a block you must attempt to solve a simple math problem using a cryptographic hashing function. To see an example of this go to our pool website and under Pool Stats you will see a column showing Total Shares in the Round. This is showing how many times we have attempted to solve the math problem since the last Block that we solved.
You will also see the column right above showing Current Block Difficulty. This difficulty is the entire network difficulty which is basically showing how many times on average it would take to guess the correct answer and be awarded the block of 25 Bitcoin. The more hashing power you have the higher the probability is to guess the correct answer and solve the problem. When the total shares in the round are equal to the difficulty it means a block should hit (in theory).
But there is also luck involved and this can be tracked by how many times it actually takes before the block is found. So if you look in the table on this same page at the bottom you will see a list of each block that has been found by our pool (stats are from pool re-launch July 12th, 2015). You will see under the column labeled Diff how many actual hashes our machines performed before guessing the answer and hitting a block.
Sometimes we get lucky and sometimes we get unlucky and go way over 100% difficulty before a block is found. This will constantly vary because of many factors but it also averages out over the long term and the more hashing power our pool has, the smaller the variance will be between blocks. You can now track everything on our page in real time!
Q – How Are Mining Earnings Paid?
A: We pay mining earnings everyday! However, because of the variance described above we pay out earnings based on the average of the previous 10 days and then adjust it accordingly for the next 10 days. When you first purchase a share of any pool you will not start earning bitcoin for 10 days. This is how we stabilize the payout and it also allows us a nice 10 day window to purchase and install new equipment. After these initial 10 days you begin earning bitcoin daily for 600 days.
Maintenance Fees & Repurchases: Each day you will earn a percentage of bitcoin mined that will be instantly available for you to withdrawal, you also see another percentage automatically held to cover electricity, maintenance, hosting, and for purchasing new mining equipment. There is a minimum percentage for each pool and these holdover amounts are redeemed in the form of additional shares when they reach a set threshold. Each pool will automatically re-purchase a partial share when it reaches 0.5% of the total share cost of that pool. You will see your total shares increase for 600 days as you pay back a percentage every few days.
Q – Who Owns BitClub Network?
A: BitClub Network is not owned in a traditional structure, it’s run by a group of programmers, bitcoin mining experts, and investors who have come together with Network Marketing leaders to offer a simple referral based mining pool. You could say we have created a decentralized corporate structure that has no single point of failure. Everyone knows their role and we really do have an incredible team assembled here. However, we prefer to let the technology and our business model do all the talking and we like think EVERYONE who owns a share of our pools owns a piece of BitClub Network too!
Q – Where is BitClub Network located?
A: Everywhere and nowhere 🙂 BitClub operates from all over the world, and this structure is intentional so there is no single point of failure or compliance issue that will hold us back or get us shut down. We have multiple mining locations across Europe and a brand new facility in Iceland (that you can take a tour of). Our main hosting servers and mining pool servers are located in the Netherlands with redundancies in Hong Kong and Switzerland. Our programmers work remotely, our support staff works from their homes and we do not have a need for a physical location. How cool is that! We can fully operate this company virtually and thanks to BlockChain technology and other decentralized and distributed networks we also don’t need a traditional corporate structure. This limits our overhead and allows us to pass these profits to our members.
Q – Is BitClub a Ponzi Scheme?
A: NO! A ponzi scheme has no product, it’s just a money game set up to pay people with other people’s money and eventually it will crash and burn because there is no real money being earned from any outside sources. BitClub Network has a REAL opportunity for anyone to purchase mining equipment and earn profits from what is being mined. We strive to be very transparent about our mining and you are able to track everything on the blockchain and see our Mining pool running live. This is what we love most about Bitcoin… You can’t trick or fake it, everything is recorded in a public ledger for everyone to see.
Q – Does BitClub Network Guarantee a Return on Investment (ROI)?
A: NO! Very important to understand that we DO NOT guarantee a mining share will have a set return. In fact, you will never hear us make any claims about how much you will earn from having a share in our mining pool because the truth is we don’t know. Bitcoin mining is very complex and with the difficulty level constantly moving up every 10 days and new hashing power always entering the space there is no way anyone can predict accurately an ROI. Especially with our business model that requires re-purchases or more simply daily maintenance fees.
NOTE: If you find a company offering you a set return (especially if they claim to be Cloud Mining and offer 100% or more) there is a high probability they are a Ponzi scheme. Some Cloud Miners are actually backed by real hardware but their power is virtual and therefore very hard to track. In fact, the sad reality is you will never know if a could mining company is actually mining, so we recommend you steer clear unless they are very transparent. We are NOT a Cloud Mining company, everything we have can be verified!
Q – What is Bitcoin Mining Equipment?
A: Mining equipment is the term used for specialized computer hardware that has been customized to run hashing functions. These machines can be strung together and plugged into the Bitcoin Network (we have a live chart of the total power hashing power here). The mining equipment is basically an ASIC chip that is designed to handle hashing functions. The rest of the “equipment” is used to cool the chip and provide power to it.
We are constantly buying new equipment to leverage our purchasing power on behalf of all BitClub Members. Most of the miners we purchase are from Bitmain (which is the #1 seller of mining gear worldwide). We have built a relationship with them that allows us to get preferred pricing and deploy racks of new servers. In addition, we are able to liquidate some of the older mining equipment with Bitmain through their secondary market and this allows us to maximize profits.
Anytime we sell off older equipment, we give our members a chance to buyout of their mining contracts and take possession of the equipment they purchased. This is based on the total hashing power and value of the existing shares. You can chose to take possession of your miners and cancel your contract at anytime. NOTE… This is not a refund, you are simply giving up your future earnings to take possession of this equipment so you can mine for yourself or re-sell it. You must contact us individually to get a quote for this.
Q – Why is my invoice showing Pending Confirmation?
A: When you send Bitcoin from your Bitcoin Wallet to the BTC address provided on the invoice it has to be verified by the network 6 times before it will be marked as confirmed and accepted. This process typically takes anywhere from 10 min up to 1 hour. Once we receive the 6th confirmation your invoice will be mark as paid and commissions will follow. In some cases it might take longer to get 6 confirmations if you are using a wallet that allows you to set a mining fee and this fee is zero it can take 3-4 hours. If you set the mining fee high (standard is .0001 BTC) you will get confirmations quickly.
We also have a redundancy system in place that will check the blockchain for transactions 3 times. So if you send Bitcoin to the address and it does not show up immediately we will try it again within the first 12 hours and then two more times within a 72 hour period. In 99% of cases the redundancy will catch the transaction and mark it paid so we will not investigate a transaction until the 72 hour window has passed. In this case please contact us and we will manually look through the blockchain to determine what happened.
Q – If BitClub is already successful mining Bitcoin then why share profits?
A: Because of how mining actually works it is always getting harder for smaller mines to make profits. This is actually why mining pools were created in the first place. In the early days anyone could mine with their home computer and hit a block. Now, even if you have millions worth of equipment you still might be too small to solo mine and be profitable, so the entire industry has quickly turned to mining in pools and sharing profits. In order to be profitable today you need to have massive purchasing power and this is where you come in! With our business model instead of rasing millions of dollars from a VC firm or private investor we are allowing members to pool their money together and make large purchases. This means bigger discounts on hardware, less electricity costs and a much more efficient mining operation.
Plus, we have a very strategic way that members can pay for the daily electricity, maintenance, and other costs that come with running a large scale mining operation like this. This is where our real power and profits come in! By taking a percentage of all the Bitcoin mined and putting it toward a re-purchase we have basically created an automatic “autoship” that members NEVER have to pay out of their pocket. And for chipping in daily you are rewarded with a larger share of the pool. With a structure like this everyone wins! And this is why we believe we can become one of the largest pools in the world!