Bitclub Network (Mining)

[Charlie]

Neuer Newsletter. Nichts bewegendes (außer man hat einen ETH Pool), alles läuft weiter ruhig vor sich hin.
Wenn auch etwas langsamer was die Erträge betrifft (steht auch im Newsletter).

Externer Inhalt (z.B. Newsletter, E-Mails, Seiteninhalte):

End of July Update.
Date: July 29th

Included in this update.
Bitcoin Mining Pool
Ethereum Hard Fork - Important Details!
Replicated Websites (a few issues)
Leadership Event Recap - Credits being issued
Mobile Website/Apps Update

BitClub Network continues to expand rapidly around the world and to keep up with this growth we've been hiring more programmers, more support team members and finding more strategic partners than ever before.

Believe it or not BitClub is almost 2 years old, which in the Bitcoin world is like 10 years old because of how fast the industry grows and changes. But even though we are approaching this 2 year milestone we feel like we are just getting started.

In fact, we have some big plans on the horizon and with so many new products and services getting ready to hit the market our plan is to continue to create incredible value for you as a member and help you cash-in so that you cash-in on digital currencies.

Ok, now for a few updates.

Bitcoin Mining Pool

Our mining pool daily payout has been very low lately, and in fact the next 10 day stretch you will see will be the lowest per share total that we have ever paid. This is due to a few factors but the key to understand is this is temporarily low and we see the mining earnings going up over the next few months as we transition into this new consolidated market.

Factor 1: We have been unlucky.

Ever since the halving occurred we have been very unlucky in hitting blocks. You can see this by going to our pool website and tracking the last 5 blocks, 10 blocks, 50 blocks, etc. It's just simply bad luck and it happens all the time.

Over the long run our mining will average out to be 100% of our power. But sometimes in the short term we can be very lucky and also very unlucky. Right now we are just in one of those unlucky stretches that we have to deal with

Factor 2: Power Transition. As we mentioned in a previous update we are turning over some older equipment and we just made a large purchase by securing the newest S9 Antminers, as well as BitFury's newest containers, which both utilize 16nm chip technology.

All of this new power takes time to set up and over the past week we have been adding 1 PH and taking 1 PH of the older gear away as we receive the shipments to our Iceland facility. Right now our pool is showing about 49 PH but we have paid for 68 PH and we expect to have all of this power in full running by Aug 13th.

We will also be making another large purchase around this time (mid August) and will continue to expand with the most efficient machines. Our goal is to be at or above 100 PH by the end of the year

Factor 3: Halving and Difficulty. Ever since the halving dropped the mining reward from 25 BTC to 12.5 BTC we have not seen any big adjustments in the difficulty or the price. Which means everyone is earning a lot less and some are okay mining at a loss!

This won't last and we think it's about to change. We will likely see the difficulty drop this next period as miners are starting to unplug older machines and we hope to see a big uptick in price from now until the end of the year in Bitcoin price. Both of these would increase profitability per share greatly!

Please be patient with your mining earnings they will constantly go up and down and right now they are down. We do not pay out "theoretical" mining earnings like some other cloud hashing companies (most of whom are out of business), we only pay whatever we are actually mining so this will include ups and downs as we grow.

Ethereum Hard fork - Important Information

*If you purchased a share in our Ethereum mining pool please read this carefully*

Ethereum has been split into two chains. ETH and ETC. ETH is the new chain that was forked, this is the chain BitClub Network is supporting and it's the chain all Ethereum developers are supporting as well.

ETC is being called Ethereum Classic. This is the blockchain of the original Ethereum (where the hacker has control of all the DAO funds) and it's being continued by some developers who did not agree with the hard fork. Unfortunately, it has gained a lot more traction than anybody thought it would and the main reason is because exchanges started supporting it by matching the balance of ETC to ETH that was held in any account.

In other words if you were holding Ethereum before the fork on an exchange and you had say 50 ETH in your wallet, you would now have 50 ETH and 50 ETC. This move basically gave everyone free money and its created a bit of a frenzy and controversy with the two sides battling over which chain is the "real chain"

We believe ETC is very bad for the future of Ethereum and having two chains is only doing harm. The longer the community allows it to continue the worse off we are going to be. It's our hope that ETC will die soon and we can move forward building the future of Ethereum on 1 chain. (which has massive potential).

VERY IMPORTANT. Here is the key part for you!

Since we are only supporting ETH moving forward and we have converted our nodes over to the new chain, this means YOU MUST also be on the new chain to receive your ETH commissions. At this time we have stopped all withdrawals because we believe many people may not understand what this means and we could end up sending your Ether on the older chain, in which case you would lose it (unless you jumped back on the old chain to collect it).

So in order to avoid confusion we are going to be doing the following.

First, we are going to hold all ETH withdrawal requests for about a week or so as we watch and see how this market plays out. Don't worry your ETH is safe and we continue to mine it daily so your balance will grow in your BTC wallet you just won't be able to withdraw it for about a week.

Second. If you do have a wallet you are running like MIST or any other wallet where you control the node then YOU MUST move to the new chain. There are full instructions available on most wallets and if you are not sure we recommend you move them to an exchange and re-install a new instance on your computer.

If you are using an existing exchange account then you don't have to do anything. (Bittrex, Bitfinex, Poloniex, etc). All of these have been updated automatically and you can receive ETH just fine.

We ask that you please be patient on this, we will be cancelling a lot of the existing withdrawal requests from the last week, which means your Ether will be put back into your BitClub virtual wallet for you to withdrawal again to an address that is on the new ETH chain.

More details will be provided next week as we figure out the best way to ensure no ETH is lost because of this hard fork.

Replicated Websites - Some issues

You may have noticed the replicated websites being offline for hours at a time or not responsive at all depending on where you live these last few weeks.

Just to clarify we are talking about the websites you use to promote - (bitclub.network, bitclub.io, bitclub.bz, and also coinpay.co)

We have been experiencing a lot of traffic to these domains (mainly bad traffic) that is causing the server to crash or be unresponsive for hours at a time. These domains are on completely different servers and they are not equipped to handle DDOS or other attacks like our main server and pool servers are.

Up to this point we did not have any issues with the set up but now with the amount of downtime we are going to be moving all of these domains to better servers that can give us 100% uptime (or close to it).

We apologize for the inconvenience this causes when you are promoting your URL's and we plan to have this fixed very soon!

Leadership Event - Recap

We had a great leadership meeting in KL Malaysia. If you attended this event you got a sneak peek behind the curtain at the next phase of BitClub Network and you saw a new product that we very excited about.

We believe this product and opportunity could be even bigger than our mining pools, and maybe even be bigger than ClubCoin and the CoinPay payment app too! You will receive full details about this very soon, right now we are in the process of putting together all the marketing materials and videos that will help explain it.

If you attended the event and we marked your name down then you will receive your credit in the next few days. Just look for the admin credit in your BitClub Wallet.

Thanks to all the leaders who attended and made this event one to remember, we plan to do more of these in the future and will let you know when and where the next one will be.

Mobile Website, Mobile Apps

We are getting closer on launching our mobile first website and our two mobile apps. We have a dedicated team working on this project and we hope to launch our first app for Android in the coming weeks.

Here is another teaser with a few more screen shots.



We hope the next update will include a live version of this app so you can download it and begin using.

Thanks for being a member of BitClub Network!

Sincerely,
-BCN Support Team