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Bitclub Network Update: September 2017

It’s been almost a year since my last Bitclub Network update – and what a year! Prices across cryptocurrencies have gone through the roof which has been fantastic news for us all.

My general strategy in 2017 has been to diversify Bitcoin profits across other coins. The biggest wins have been in Ethereum (bought at $40) and NEO (bought at $0.40) but the whole asset class has performed amazingly well and it’s been almost impossible to lose money.

I’ve been able to accomplish all of this thanks to Bitclub Network. It was the first stop on my cryptocurrency adventure and has set me up perfectly to take advantage of other opportunities.

Sure, I was wary of the horror stories and accusations of shenanigans – you only have to Google ‘Bitclub Network‘ in order to see all sorts of conspiracy theories – but I’m glad I wasn’t put off. I even received a number of emails declaring that I was throwing my money away but those people have gone very quiet now…


A Look at the Numbers

Adding everything up, the return has been quite incredible!

I invested a total of $14,896 back in September 2015 and – less than two years later – I have withdrawn Bitcoin worth $102,504. Plus, I have Bitcoin worth $1,160 still sat in Bitclub Network.

In addition to that, I have sold ClubCoin (given away free) for $7,409 and hold another 5,155 which are valued at roughly $2,060. Oh and I almost forgot… I hold more than 3,000 CoinPay shares which may or may not be worth something in the future.

In total then, my profit stands at $98,237 and it is growing every day.

Click here for more details about Bitclub Network


Interview with Joby Weeks

Here is an interview with Joby Weeks, one of the founders of BitClub Network. He’s certainly very bullish about the future prospects of cryptocurrency!

The interview starts at 6:40 and he gives more details about Bitclucb Network around 36 minutes in.

There are a number of ways to get involved in the exciting world of Bitcoin. You could buy some and hope that the price continues to rise or start mining Bitcoin through a community such as Bitclub Network.

I don’t know what the future holds but one thing’s for sure… if I could could go back to 2015 I’d invest a lot more than $14,896!

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Steve first invested in Bitcoin during 2015 at a price of just $230. He has since diversified into Ethereum, NEO and many other cryptocurrencies.

16 Comments

  1. PJ Pires

    September 8, 2017 - 12:53 am
    Reply

    That’s ”bitcoin mania” could be more big. I think 2018 will bring tons of new money in the game.

  2. matt eardley

    September 8, 2017 - 11:29 am
    Reply

    hi steve,

    From what I’ve read in the faq section of bitclub network you don’t get you inital investment back, instead they give you the mining equipment you have technically paid for? does that sound about right?

    Also how long did it take to get your initial investment back in bitcoin?

    matt

    • Steve

      September 8, 2017 - 1:04 pm
      Reply

      Hi Matt

      The mining equipment is expensive, so the idea is that lots of people buy a share in it and then the earnings are split between everyone. I believe that you can ask for your equipment to be shipped to you, but I’m not sure what use it would be – the power costs alone to mine Bitcoin are huge!

      I honestly couldn’t say how long it took to get my initial investment back. For one thing, I was reinvesting 100% of the profits for quite some time so there was nothing initially. I treated it purely as a speculative investment in Bitcoin, which had some buzz but which was still a bit of a mystery. It was certainly high-risk back then, perhaps a bit less so now that the cryptocurrency market as a whole has moved on.

  3. Tom

    November 8, 2017 - 2:15 am
    Reply

    Hi Steve,

    In Bitclub Network, how do you transfer your mining earnings into the wallet so it can be withdrawable? The re-purchase percentage is set to 100% in all 3 mining pools.
    If I want to transfer all my mining earnings into the wallet should I just set them to 0%?
    If I do it after that I won`t get any new bitcoins from mining?

    I sent a support ticket to BCN but they didn`t reply yet anything.

    Thanks for you answer in advance.
    Tom

    • Steve

      November 8, 2017 - 2:50 am
      Reply

      Hi Tom

      If you set repurchase to 100% then BCN uses all of your payout to repurchase new shares. If you set it to anything less than 100%, you will get some in your wallet too and then it can be withdrawn.

      All of my shares are now set to 0% as I’ve made a massive profit and I want to milk as much profit as possible. It does mean that my mining income will end in a couple of years, but I’m comfortable with that.

      • Tom

        November 8, 2017 - 3:42 am
        Reply

        Thanks Steve, so if I set all repurchase to 0% now, all my mining profits will go immediately to the wallet and from that point I won`t get any new shares.
        Is that right?

  4. Tom

    November 8, 2017 - 3:57 am
    Reply

    Thanks Steve,
    So if I set all repurchase to 0% now, all my mining profits will go immediately to the wallet and from that point I won`t get any new shares.
    Is that right?

    • Steve

      November 8, 2017 - 11:53 am
      Reply

      Yes, correct.

      • Tom

        November 30, 2017 - 2:33 am
        Reply

        Hello,

        I set in all my mining pools the repurchase percent to 0% 2 days ago, but my mining earnings weren`t credited into the wallet, they are still showing all my BTC under mining earnings and I can`t withdraw them.

        How is it possible to transfer them so I`m able to withdraw some?

        Thank you

        • Steve

          November 30, 2017 - 3:06 am
          Reply

          Hi Tom

          It should be showing up in your wallet if set to 0% repurchase. All mine are at 0% too, happy to maximise my profit at this point. Best to raise a support ticket with Bitclub as they can see your account and help you directly.

          • Tom

            December 8, 2017 - 1:34 am

            Since 10 days all my mining pools repurchase is set to 0%.
            In the last 2 years they were all on 100% so I didn`t get anything into my wallet, it was empty.
            Now I`m getting slowly BTC into the wallet, but what I was earning in the last 2 years while they were on 100%, those BTCs are all under the mining earnings and I just can`t withdraw them.

            I was opening support tickets to get some help from Bitclub network, but they are just ignoring my request/answering something irrelevant.
            For EG:
            Please provide more details about your issue
            I want all my mining earnings into my bitcoin wallet.
            I set all mining pools repurchase to 0%, but nothing happened.
            Please transfer it manually if it`s possible.
            Thank you
            ——————————
            Replied on: 12-05-2017 06:21 PM

            Hello,
            Your pools should now all reflect zero percent repurchase.

            Sincerely,
            BCN Support Team

            OR

            Hello,

            How can I transfer my mining earnings into my bitcoin wallet so I`ll be able to withdraw from my account?

            Thanks
            ——————————
            Replied on: 11-13-2017 08:11 PM
            Hello,

            The amount displayed as your mining earnings is the TOTAL amount of earnings you have received from your shares. This amount includes the Bitcoin credited to your wallet, depending on the repurchase percent setting, AND the earnings that have already been spent on partial pool shares.

            You are only able to access the mining earnings that has been credited to your BitClub wallet.
            Sincerely,
            BCN Support

            It`s sooo frustrating, the BTCs are there on my account, but I can`t access them.
            I don`t know what to do, do you have any idea?
            When you set the repurchase to 0%, did you have to wait till the BTCs went into your wallet, or it was automatically transferred immediately?

            Thanks,

          • Steve

            December 8, 2017 - 1:51 am

            Ohhh I see… well, once earnings have been used to buy additional shares you can’t then back out again. On the plus side, you’re now earning more from mining for 1,000 days. Anything earned from now on will be withdrawable but if repurchase is at 0% then after 1,000 days it will completely stop. That’s your decision to make – I went 100% for a while and I’m now at 0%, but I have made an absolute fortune from the mining so I’m happy to.

          • Tom

            December 8, 2017 - 2:12 am

            I can see your point, I made a a fortune too, but when you set the repurchase to 0% were your BTCs been transferred to the wallet immediately??
            I just want to withdraw all what is there, but I can`t access to it…

          • Steve

            December 8, 2017 - 4:42 pm

            When I set repurchase to 0%, my daily earnings started going into my wallet. I couldn’t go back in time and take what had already been spent, of course, but I still have those extra mining shares and will benefit from them for the full 1,000 days.

  5. Shema

    November 22, 2017 - 4:06 am
    Reply

    Hi Steve, how do I claim the clubcoin. I have about 1099 but I see the value today in $5000+. Is that true?

    • Steve

      November 22, 2017 - 1:44 pm
      Reply

      Yes, it’s true! The current value is here – https://www.worldcoinindex.com/coin/clubcoin

      What you need to do to sell is transfer your ClubCoin to an exchange such as Bittrex, then you can convert it into Bitcoin (or any other coin you like). If you want the cash, move the Bitcoin to Coinbase or localbitcoins.com and sell it there.

      Congrats!

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