24.12.2017, 07:31
Externer Inhalt (z.B. Newsletter, E-Mails, Seiteninhalte):Back Online! Important Security Updates, New Upgrades, and More.
Date: December 23th
IMPORTANT Security Updates
Restore Your Account
Enable 2 Factor (Google Auth)
ALL Pending Withdrawals Cancelled
ALL Support Tickets Closed
CoinPay Invoices LIVE on BitClub
MAJOR Upgrades Coming in 2018
CoinPay Pre-Launch Update
Payment Audits and Corrections
Repurchases Change
Bitcoin Gold Wallet
Important Security Updates
A few days ago we found a security exploit that was uploaded into one of our testing environments through a trusted 3rd party provider. This 3rd party has verified the exploit on their end and after looking into the log records we know exactly what happened.
Luckily, our system is set up to lock itself down in case of a threat or unusual activity and this attempt was shut down very quickly (within 15 min). However, due to the access attained we are not taking any chances with member accounts so everyone will need reset their passwords and 2 factor authentications (Google Auth).
Steps to Restore Your Account.
Step 1: Change Password. You must login with your existing account information and request your pass code via email. Follow the steps in the email and beware of fake emails or phishing attempts. The only thing you will receive in this email is your code, NO URL's so if you receive something telling you to click on a link DO NOT click it.
*If you do receive any suspicious emails please forward them to us - [email protected]
Step 2: Reset your 2 factor security with Google Authenticator. Having 2 factor will save you! If a hacker gains access to your account but you have google authenticator enabled there is NOTHING they can do to steal your bitcoin so please take the time to set this up and protect yourself. If you already set up a Google Auth previously you will need to set up a new one!
All Pending Withdrawals Cancelled.
We have cancelled all pending withdrawals for all cryptos. If you had a pending withdrawal that was not paid then your coins have been placed back into your wallet. You can now request withdrawals and we recommend changing your withdrawal address or at least verify that its correct before doing a withdrawal.
While the site was offline we took the opportunity to update our system with new protocols and a new payment scripts on the admin side that will allow help us process your withdrawal requests a lot faster. This upgrade was scheduled for January but we pushed it online early with this down time.
All Support Tickets Closed and Deleted
We had to do this for two reasons.
First, many tickets may contain sensitive information about your account, personal details, or whatever else. One of the first records in our logs when this exploit happened was into our ticketing system. We don't want to take any chances on requests from accounts until that may have been compromised.
Second, we have a brand new ticketing system! This system was going to run in parallel to our old system but with this downtime it provided perfect opportunity to switch everything over and start fresh with all new tickets. You will notice a simplified process when contacting support and from the backend we will be able to provide support in English, Korean, and Japanese.
Coming soon. We are going to be adding a LIVE support chat feature that is fully interactive to help you solve issues automatically before connecting you to a live person via text/chat. This upgrade will be rolled out to the top ranks first and the plan is to make it live to everyone February 1st
With our new revamped platform you will begin to see a lot of new support features launching in 2018 and we are excited to get there!
CoinPay Invoices LIVE on BitClub
With the website being down for a few days our team was able to fully implement the new CoinPay platform into our own invoices. You will notice a brand new look and feel but most importantly is the backend of this platform and how overpayments and underpayments will be dealt with.
Overpayments will now automatically credit to your wallet with the overpaid amount after its been confirmed. So in case you accidently overpay the amount it will be available in your back office to withdrawal or use.
Underpayments will also be dealt with using our proprietary system for recalculating the invoice. The best part about these new invoices is they NEVER EXPIRE!
Instead they adjust every 10 minutes so you will have the same time to make the payment but now if you underpay the invoice and your 10 minutes expires it will just recalculate a new exchange rate for what you still owe and you will have another 10 minutes to pay it. This will continue until the full amount of the invoice is paid in full.
MAJOR Upgrades Coming.
Right now the entire world is on fire about Crytpo and although this is nothing new for long time BitClub members we are now seeing an entirely different group of people coming into this ecosystem and BitClub is long overdue for some major upgrades.
During the last 3 months our sales went crazy as Bitcoin has gone mainstream around the world. This growth has been very exciting for us but it's also been putting a lot of stress on just about every piece of our operation.
Here are a few things that we've been working on.
1. We are formalizing many aspects of BitClub Network. This includes creating multiple entities around the world to operate legally and above board in our key markets. It's important we do this to protect everyone and you will see BitClub operating more like a "company" and less like a "club" of people. We will share these details with you in January
2. New websites. Our website is old (embarrassing old) and the content is very outdated as well. The good news is we just hired a really great in house team of designers who are already working to redo the website, the videos, the members area, and create a new skin for our mobile apps. We know this stuff is long overdue and we are very excited about this new marketing team.
3. BitClub and CoinPay apps. We have built the framework for a few different apps but we are going to be tying them together and really focusing on keeping our apps up to date and top notch. We have also hired dedicated guys to these projects and you will see a lot of emphasis moving toward using apps to access our products and services.
4. Marketing, Training, News, and Events. Our plan for 2018 is to completely revamp our marketing and communication so that new members get a lot more value out of their membership. This includes new training, new ticketing system, new live support for big leaders, planned events around the world, and much more communication from the corporate side.
5. New Products and Services. We have identified some new products and services that we plan to introduce in 2018. This will help add even more value to our membership while giving members additional options to earn volume. One of the key things will be our new debit card program that will allow you to hold cryptos (including ClubCoin)
6. CoinPay Opportunity. We will begin to focus on the next phase of BitClub Network which is the launch of CoinPay and the mass adoption of ClubCoin. You can read more about this one in the CoinPay update below.
7. Legal Structure. We are working on many different strategies to protect BitClub. This includes leaving all unfriendly markets and focusing on blockchain and bitcoin friendly countries. You will likely see us pull out of more markets in 2018 and this includes the US. If you are in the United States you will see a big crackdown coming as we formalize and protect this company so just be aware of this. We have warned on it many times.
Why are we making all these big changes?
When we first started BitClub in 2014 we had no idea it would turn into this. Our vision was to bring a small group of people together and pool our resources to purchase mining equipment and share in the profits. It started working for us and then it caught on fast as more people wanted a piece of the Bitcoin we were mining.
If you were lucky enough to join BitClub in the early days then you have seen an incredible return on your initial purchase from mining alone. This is not from recruiting, or commissions, but from actual mining profits.
As of this writing BitClub Network has mined 65,896 Bitcoin, which at today's price is worth $1,054,336,007.66 (in case your eyes glaze over looking at this number it's almost 1.1 Billion USD). Out of this total we have paid 100% back to the members through our pool. BitClub keeps 0% of this!
Nobody else can claim this, all other mining pools have pool fees, expenses, and there are lot of costs associated with running a pool (if real mining is actually being done). But the reason we can pay 100% back and continue to expand is because of the MLM leveraged structure that we set up.
We have found the perfect model and thanks to the rise of Bitcoin and other Cryptos we have now seen thousands of people completely change their lives because of the BitClub opportunity. This is something we take very seriously and we can't thank you enough for your patience and hard work as we navigate this space together.
The next step for BitClub is to move from being a "Club" of people operating on nothing more than trust to a more "Corporate" like structure that allows us to protect and continue to expand what we have.
You will see the "re-birth" of BitClub as we move to scale the operation and implement new policies and procedures for the next phase of our growth. We have already started to hire a new corporate team who is helping to execute this plan in the background and we couldn't be more excited for what is coming in 2018.
MAJOR upgrades will be visible over the next 30, 60, and 90 days.
CoinPay Pre-Launch Update
We are excited to announce that our CoinPay pre-launch has already taken in nearly $950,000 USD through the platform with no issues at all. This volume has come from only a few Beta testers who fully integrated our platform into their own merchant systems and now that we have implemented it into BitClub we are confident it will be ready to roll out.
Each one of the Beta testers has integrated a seamless checkout and we have also just gone live on our own platform as well to stress test at the highest level. One of the best things about CoinPay is our fully functional API that anyone can use to integrate. This is actually where the magic is because any business can easily follow the documentation to make it happen.
Here is the API doc. https://members.coinpay.co/api.html
The next step for CoinPay is introducing it through BitClub so all members can begin using it and selling it. When the platform launches it will be in 4 languages. English, German, Korean, and Japanese.
CoinPay will begin by accepting Bitcoin, Bitcoin Cash, and ClubCoin. We are still waiting on ClubCoin to be listed on a few more exchanges before it can be implemented so you may see the platform initially launch with just BTC and BCH.
With the BTC network very congested and hard to use (for small items) we envision Bitcoin Cash being the preferred method of payment because its fast, cheap, and just as easy to use as Bitcoin. ClubCoin will come into play as well with an entire marketplace for customers to spend their ClubCoin at a discount through the platform itself.
This is going to be a major focus in 2018. We see CoinPay and ClubCoin being a much bigger opportunity than mining and we are finally putting ourselves in a position to handle the support needs this will create.
More details coming soon on this!
Payment Audits and Corrections
With the size of our daily commission payouts and the many factors that go into making these payments in Bitcoin, Bitcoin Cash, Ethereum, and all the other tokens we know there are some missing payments (especially on Ethereum).
One of the things we've done recently is rebuild our Ethereum payment script. The Ethereum network handles payments a little differently by using a gas limit and no matter how high we set this limit we see payments fail or only send a portion of the amounts.
So what we decided to do was build a full audit script on all of the payments made and in 2017 and we plan to implement this over the next few weeks to payout any wrong commissions and potentially claw-back any commissions that were paid twice or too high.
If you are waiting on a payment (especially for Ethereum or Ethereum Classic) please wait until the end of the year as we are running this process now and plan to close out 2017 with fully reconciled records. Once these are ready we will post your total earnings for the year in a downloadable file so that you know exactly how much you have earned for tax purposes.
Repurchases Change.
We recently made a change to our repurchase percentage by bumping it up to 5% of the value of the pool. This was a much needed change because of all the millions of commission records these partial share repurchases were creating.
However, we are getting ready to make another small change that will allow you to earn repurchases faster if you are proactive. Very soon you will see a button inside of your members area that to click and repurchase whatever is being held as long as it's above 1%.
So the idea is if you are in your back office and you have accumulated over 1% of the pool in reserve this button will be activated and you can manually push it to repurchase your chase. If you do not push this button then it will automatically repurchase at 5%.
We will let you know when this change goes live.
Bitcoin Gold Wallet
We have decided to support Bitcoin Gold. If you had Bitcoin sitting in your wallet at the time of this fork then you will get an equal amount of Bitcoin Gold that you can withdrawal. You can expect to see this wallet around the first week of January.
Bitcoin itself has been forked dozens of times over the years and mostly it has gone unsupported. However, this year because of the success of Bitcoin Cash and the scaling issues we are now seeing more and more teams come up with fork ideas that are getting attention.
Bitcoin Gold is probably the last fork we will support!
In the future, if you want to have access to any new forks make sure you withdrawal all of your Bitcoin out of BitClub and store them in a wallet that will support the forked coin. We will let you know in the future if we change our mind on any specific forks, but please assume we will NOT support all the planned forks.
As always THANK YOU for being part of BitClub Network. We had an incredible year and we are looking forward to doing big things in 2018
Sincerely,
-BitClub Support
