The BitClub Network (bitclub.network / bitclubnetwork.com / bitclubpool.com) is a mining pool service which allows people to invest into Bitcoin and altcoins mining by renting mining power from a physical operation allegedly located in Iceland and running off 100% renewable, green energy. There are several problems with BitClub though. First of all, it belongs to a crypto industry category which is frankly very disreputable. The vast majority of services offering similar “opportunities” to investors turn out to be Ponzi schemes and end up kicking the bucket, taking the monies of their investors with them.
On top of that, the BitClub network’s promises are just way to good to be true. A few red flags are indeed raised in regards to this operation, even at first glance. If it is the scam we believe it is though, it has to be granted that it is a professionally set up one indeed. It has quite a few aggressive pushers on various forums (like bitcointalk, where proper wars of words have been fought over the legitimacy of the service). These promoters are much better prepared than most of their ilk, and they are quite skilled at addressing the concerns of those who know what Bitcoin is and how it works, but are less versed in the ways of mining service-based Ponzi-schemes. Fortunately, the same forums host quite a few people knowledgeable enough in this regard too, some of whom did indeed take the time to dig deep and come up with what can indeed be accepted as proper proof to the fraud claims they have made.
Actually proving that BitClub is a Ponzi setup is nearly impossible in technical terms, as it would involve proving that it has no revenue-generating mechanism. While definitive proof in this regard cannot be produced, there are indeed several signs (like the steadfast refusal of delivering a public mining address) that seem to point in this direction.
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At a truly close look, such red flags begin to pile up though. Let us start with the claims: the BitClub network claims to control some 1% of the total Bitcoin mining power (or at least, that used to be the case at one point. Nowadays they say they mostly mine altcoins and use them to buy bitcoins). They promise a 1000% increase in the value of their memberships within 6 months and they are promising networked Bitcoin ATMs and debit cards.
All that is fine and dandy, if a bit too good to be true for our taste. Problems begin popping up left and right soon though. There’s the membership fee, the 1,000-day ROI, the “referral based pay plan” – which is indeed an element found at the core of every Ponzi scheme ever invented – and the presence of ClubCoin, the crypto coin which experts see as a way out for the perpetrators, once the scheme inevitably expires. This is what they might use to “pay out” their investors.
The website itself used to be (and still is) riddled with scammy elements. Their testimonials section is quite cringe-worthy in fact. For Amy Albescu, from Romania, they used a picture lifted off a jericko.net profile. The picture has been removed now. There’s an empty spot left, probably for whatever picture they will find next for this “person.” Mike Jones’ picture is a stolen and faked one as well, and for a while there, they even had the picture of a convicted Indian rapist up – which they have also removed some time ago.
Who is Behind BitClub Network?
We were not surprised that no contact information, such as an address and a telephone number, can be found on the BitClub Network website. According to whois.com, the domain bitclub.network was registered in December 2014 by BitClub Network from 13 Banul Andronache St Sector 1, Bucharest, Romania 011663. Their telephone number is +40.212319481 and email support@bitclubnetwork.com.
Support is said to be available 24/7 via email (pool@bitclubpool.com) and live chat in English or Chinese.
Popularity
The BitClub Network service apparently is not available in the United States, including the minor outlying islands, Guam, Puerto Rico and American Samoa.
At the time of posting this review, bitclub.network had a global Alexa rank of 110,967. BitClubPool.com’s was 183,142. But their most popular domain seems to be bitclubnetwork.com with an amazing rank of 10,556, a score which indicates this is a highly popular website. Most of the visitors to these sites are from Japan, Germany, US and South Africa. Almost 40% of this site’s traffic arrives via a referral from bitclub.network mostly.
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Bitclub.network is most visited by people from the United States, Russia, South Africa, Turkey and Spain. Almost 25% of the traffic here comes from referrals, apparently at least some of these come from porn sites.
Bitclubpool.com gets most of its traffic from Germany, South Africa and the US. Almost 70% of the visits are referrals made mostly by BitClubNetwork.com.
BitClub Network Review Conclusion
While it does seem to be backed up by blockchain records, the BitClub Network is little more than a classic MLM scam. As long as the new money keeps flowing through the pyramid, they will probably be around. Expect them to fold like a lawn chair though, as soon as enough people learn about their crooked ways.
Review Verdict: BitClub Network is a SCAM!
Blacklisted Sites: bitclubnetwork.com, bitclub.network & bitclubpool.com
For legitimate alternatives, feel free to visit our Cryptocurrencies Day Trading Center.
for those who said BCN is paying, would you please send me your own proof ??? before i invest here… i just got someone to join invest with them…anyone and admin please advice…thanks and apreciate
here is my contact. I am from South Africa and BitClub Network does pay. itonzamba@gmail.com. Contact me if you are really serious about your post.
Thanks
James Hutchinson – I have heard the mining profits from BCN have picked up nicely now now they have 1 petahash power & going to 2,500 petahash in October 2018. Has that added power provided you with better returns or is it still less than Genesis Mining and Hashing24?
Would love your response.
Thanks
here is my contact. I am from South Africa and BitClub Network does pay. itonzamba@gmail.com. Contact me if you are really serious about your post.
Thanks
My friend at twitter, a Japanese salary man dropped into bitclub network,too.
Several days ago,he told me about that site,I intended to join.But I didn’t have so much money so I am not in till now.
Well,luckily,I read your article here,and avoid a loss for at least 500 dollars.Thank you.
BitClub network is paying… and since 2014, they have been mining and you can check them on blockchain.info
Hello
I read ever that is bad, or we cannot recommend this.
Guys, you must reading the Newsletter and the History of this Company, then you understand it better.
And who want know who is the Owner, the must only look on youtube or he talk with a Business Partner from Bitclub. (to example)
Bitclub is real. you can reading it about Blockchain.info too.
I´m a Investor and Networker in Bitclub and all the opportunities are very good.
Ok, currently the Mining Earning are not huge, but that is at all Companies and the Bitclub will raise the Mining Power in the next Time. (Weeks and Month, Step by Step)
The issue is, that many People do not know.
What do the Bitclub?
What can i make in Bitclub?
Compare this Company with other Companies and you will see that the Bitclub is really good.
Ok that is my opinion and experience. I´m in the Bitclub since June 2016.
Compare the Bitclub with other Companies, then the most Companies tell you, you can earn Money in some Days good Money. thats right?
Question: Who people of you has very much earn Money with Mining in a other Company with low Money within some days, that he is Millionaer right now? – honest now!
Nobody i think it. In Bitclub to not works too, but your Earning within 1000 days are perfect, and if you do make Sale, then it is really really better, but that must decide everybody for yourself.
You can make Multi Account for yourself too, that is allow and that know many People not here too.
The most of the many other Companies stop your Payment or raise up the Payout limit, that many People can not payout your Money.
If you has more Money after the 1000 days of your invest is really super and more realistic than in 90, 200 or 360 Days like other companies to example.
I just wanna say, the Bitclub paid all Money, and some extra Payment for the delayed delivery of Mining equipment, that what he promises because he buy always new Mining equitpment.
Just, You must more to inform about this Company.
Sorry for my English, if it not correct. I´m from Germany! In German it would be more longer like this. 😉
You are not from Germany either, more like SE Asia, Pakistan, India etc.
Germans would not speak English like you, neither would their robotic translater
Hallo
meinen Sie wirklich ich bin nicht aus Deutschland. Ich habe ja geschrieben das mein English nicht perfekt ist und klar ab und zu nutzt man auch für das eine oder andere Wort / Satz einen Übersetzer. Außerdem was hat das mit dem Thema zu tun?
Viel Spaß beim übersetzen oder vielleicht sprechen Sie ja deutsch, aber dass wissen nur Sie.
which good website do you prove best were i can invest to mine bitcoins
BitClub Network! contact me if you are serious about it…
itonzamba@gmail.com
Thanks
Hello.
Bitclub is shit and very big scam, because you never get back your investment BTC. They pay you only from your btc.
For example:
i deposit 0,22 btc, mining 1000days ,after 170 days i have 0,0344 btc ,now daily mining is 0,0001btc , to the end i have 830 days, 830 x 0,0001 = 0,083 + 0,0344 = 0,1174btc for withdrawal, but daily mining is less and less maybe every week.
Conclusion: you don’t get even 50% of the investment, better is have btc on the wallet.
This is a real scam, many people invest 15,000 dollars and have to wait 3 years LOL, meanwhile if they want to earn money they have to put as many fools as they can in their pyramid!
The above defensive comments regarding BitClub network reminds me of the MMM days where people will nearly kill you if you mentioned that this was a scam. . . If it is not a scam, then people must stop recruiting and enjoy their pot of gold!
Aaaand….They found it!
“It has quite a few aggressive pushers on various forums (like bitcointalk, where proper wars of words have been fought over the legitimacy of the service).”
Exhibit #1 above. Expect more “JD Lovelands” to pop up here soon!
Hey JD, why did you guys remove the “testimonial” of that convicted Indian rapist from your site? and all those other fake ones, you clown?
You have some nerve to come here and insult people’s intelligence.
“There is nothing remotely ponzi about the “scheme” as you call it.” you say… bitclubnetwork.com/compensation.html – you actually have a pyramid drawn there you funnyman, you.
this is the most worthless biased piece of cow crap I’ve read. There is nothing remotely ponzi about the “scheme” as you call it. Your lack of understanding about “MLM” compensation and your half hazard attempt to write a “review” is a complete farce and filled with assumptions based on absolutely no experience. If anyone truely would like an honest and accurate review of this company, contact an active member who has actually visited the facilties in Iceland and not listen to some lacky who obviously has not done their due diligence. It will be interesting to see if you in fact even post my reply
That’s OK JD. You’re trying a bit too hard there though.
Plus that’s haphazard and not “half hazard”, truly and not “truely” and lackey and not “lacky”.
Having your scam blasted like this has made you a bit too emotional. Don’t take it so hard and mind your grammar!
After all, the reviewer did actually go easy on you.
I am an investor in BCN and also am invested in 2 other mining operations – Genesis Mining and Hashing24. Of the 3, BitClub Network is definitely the least efficient mining operation, when compared as average daily BTC mined per $$ – actually far less efficient. Unfortunately for me it was the first mining operation I encountered so I didn’t really know much about the process. At BCN, BTC mining is divided into 3 pools which ‘pay’ 50%, 60% and 70% (on $500, $1000 and $2000 invested). The mining duration is limited to 1000 days, but a portion of the withheld mining proceeds are theoretically reinvested into future mining so that at least some fraction is ‘perpetual’. They openly state a portion of all mining proceeds are paid to the ‘salespersons’ who bring in new investors in the manner of a MLM, but I don’t have details on those amounts. Accounting is marginal. Of course there are costs for power, licenses, personnel, etc but these are not accounted for separately as a maintenance fee like other operations. They display a physical server facility, but I believe this is leased space from a server farm with a portion ‘fenced off’ (and maybe with signage) for their operations. Daily payouts are listed from each pool. No time hack or other means of converting to a fiat currency is provided, which would help if reporting these currency transactions. (ie if you are supposed to report and don’t and get caught you have no foundation for limiting gain below the current market price.) I’d like to recoup my investment but, even at December BTC prices, their rate of production is so meager that it will take me a while. I do not recommend them to friends.
Hello James, and thank you for this! Do you recommend any other mining operation?
Hi Susanne! Feel free to check out our complete cryptocurrency mining guide.
James – has the profits in BCN improved since your previous post since they have increased their power or are Genesis Mining & Hashing24 still out-performing BCN?
Loo forward to your reply.
Thanks
Facilities can be scam just as muc..dont be conceived by physical presence of a product just for it to be legit…well seem sto be legit..SCAM