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I have been interested to find out more about BitClub Network (BCN) ever since I started viewing the endless posts on Facebook. The adverts promise daily earnings from Bitcoin along with several different altcoins. I was excited when I heard about a meeting which was likely to be stored in Lusaka. I made my own way into the place of the meeting in Avondale where I arrived one hour late but fortunately, the beginning time was driven by an hour so that much more latecomers like me did not miss the function.
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The adverts promise daily earnings from Bitcoin plus a number of different altcoins. I was thrilled when I learned about a meeting which was likely to be held in Lusaka. I made my own way to the place of this assembly in Avondale where I arrived an hour late but fortunately, the starting time was pushed by an hour so that more latecomers like me didn't miss the function. I have to say, the event was well attended. Talking from personal experience of organizing similar events. I stumbled approximately 80 people in attendance. I was amazed. The guest speakera'master builder' (according to the rank arrangement of BCN), in South Africa, took us through a well-prepared presentation. I agreed pretty much using a lot of everything he had to say concerning Bitcoin. I could tell he was well researched on the topic. On the other hand, the issues came in after he started describing the business opportunity presented by BCN in the context of Bitcoin. The business model and a few pieces of information regarding the company didn't sit well with me. When I started out writing this article I intended to discuss more about why I think that BitClub Network is a scam but as I ended writing I understood that I should probably talk more about why it does not make sound business decision to purchase it. But I will touch a little on why I feel it is a scam. 1. Ownership of this corporation cannot be established. Unlike actual mining websites like Genesis Mining (please distinguish between miners and swimming miners), the BCN website doesn't say the owners or individuals behind the operations are. In Reality, the website says that"BitClub is not owned by any person or entity, We're a team of specialists, professionals, entrepreneurs, community entrepreneurs, along with programming geeks who have come to together to launch a very simple business around a very Intricate business" However, lately an individual by the name of Russ Midler was identified as the individual behind BitClub Network. This person is of questionable character and really comes with a criminal record in the united states. 2. Location of the provider is unknown. Again where other sites will state clearly what their location is. The real address of the BCN offices and/or mining farms is conspicuously missing on their website. They claim that they are located in Reykjavik, Iceland, but that is another obscure claim because we are aware there are dozens and dozens of mining farms in Reykjavik. It is similar to claiming to have a casino in vegas. In an effort to hoodwink people into believing the lies, on their site they show pictures of a mining plantation branded with a more used banner and one, ONE! 3. BCN claims that they are the sole company that allows the ordinary public to buy mining contracts. NOT Correct. Now, if I'm accused of https://what-is-cryptocurrency.com/bitclub-network-review-scam-legit/ only being outside to call the BitClub Network a scam, then let's look at the investment side of things. Say BCN wasn't a scam. Say each of the aforementioned red flags didn't exist. Would it make business sense to buy into it?
1. $100 enrollment fee. Why must one pay a registration fee of $100 to combine a mining pool when they can combine others for free and really use the $100 within initial investment? Apparently this gives you access to a back-end where an individual can see the transactions on their portfolio. Sounds like something I would get for free everywhere. The speaker in the meeting which I attended that you pay a registration fee because"There is so much money to be produced ." What!?!? 2. So as soon as you pay $100 for enrollment you have to wait for a couple of days before it is possible to start earning. Some individuals have had to wait as much as 30 days while the lucky ones just 10 days. The company question is, what happens to my earnings to that period? Can they get added back to the earnings as soon as they start coming in? Or the days added back to the 1000 times contract period? In my research the answer is, not one of THE ABOVE. The investor loses out on the earnings for that period. Meanwhile, even when you get a contract elsewhere, you begin earning within 24 hours. 3. Return On Investment (ROI) is unidentified . No one from inside the BCN seems to understand when the ROI will take place. Perhaps they do not even understand what ROI is. I need to probably use the other term, BREAKEVEN POINT. When will the investor get their original investment ? Based on my study, an expense of $500 will ROI between 850 to 860 days. That's almost two years and 7 weeks. Might I add that at this point you're staying with 140 times to your 1000 days. But wait, you already dropped about 10 to 30 days so knock that out too. And keep in mind, we are not considering the $100 registration fee. Simply speaking, if you're going to buy only one contract then you are essentially putting money into a black hole. It seems the only way to make money is by recruiting an increasing number of victims to the bottomless pit. Conclusion My answer is two-fold. Primarily, going by the hype about BCN, I had been amazed to observe the amount of individuals getting into it. This could be viewed from the variety of folks posting about it on interpersonal media, facebook especially. I was so shocked the company model introduced was so uninspiring. I wondered why people were becoming in such speed. I realized that people were far fascinated about the opportunities presented by crypto monies, so much they couldn't see beyond the present selling price of Bitcoin. Secondly, like a Blockchain Technology and Cryptocurrency enthusiast, I'm worried that the understanding being generated across Bitcoin and crypto currencies as far BCN is worried would do more harm to the adoption of crypto, than good. Let us imagine that at the end of the 1,000 times that the investor is unable to withdraw or really BCN is completely shutdown such as bitconnect was. I fear that this would perpetuate the notion that everything about cryptocurrency is staged with scam. This was the departure of legit media marketing and MLM concepts. The legitimate company that do fair MLM are all bundled up with the hundreds and tens of thousands of scams that guise behind network advertising. I genuinely hope this article will act as a warning for would be investors to have a very close look at the company version of BCN before making a choice to acquire in. Do not be wowed by the claims of earning thousands of kwacha. Do not permit the promise of making ZMW800,000 in one year should you recruit one member a month for twelve months. For more in depth info about bitclub head over to
