BitClub Network out of funds? ClubCoin announced…
Putting aside the fact that BitClub Network simply take newly invested funds and use it to pay off existing investors, the ruse behind the scheme is that BitCoin mining will somehow consistently deliver >100% ROIs every 1000 days.
That’s irrespective of how much is invested and irrespective of fluctuations in the value of BitCoin, otherwise BitClub Network’s premise doesn’t work.
Quite obviously, the only way >100% ROIs can be paid out by ignoring invested amounts and the value of BitCoin, is if the ROIs paid out are pegged to something else entirely.
That of course brings us back to newly invested funds, which appear to be running out.
Is BitClub Network on the verge of collapse? The introduction of ClubCoin certainly suggests so.
If BitClub did infact run out of newly invested funds, meaning they were relying solely on whatever mining operations they had going, affiliates would be likely to see fruitful ROIs promised – even after 1000 days.
The value of BitCoin has been in decline for a year, and doesn’t appear to be going up anytime soon. And even if it did, you’re still looking at a 36.6% annual ROI required just for BitCoin Club affiliates to break even (sans any recycled affiliate funds paid out as a ROI).
So what happens if those running BitClub Network, who just happen to be ex-invesors in an $850 million Ponzi scheme, realize that’s not going to happen?
BitClub Network is excited to announce the Pre-Launch and Pre-Mining for a new Proof-of-stake coin called ClubCoin!
This coin will be issued to all BitClub members for FREE and will become an accepted currency of BitClub Network.
There are many ways to earn ClubCoin and as a member of BitClub you will have the opportunity to buy it, sell it, trade it, exchange it, or use it within BitClub Network for products and services.
With BitClub Network affiliate’s real money all but paid out, they’re now looking to pay people with a worthless virtual currency they’ve set up themselves.
And I know what you’re thinking, isn’t the whole point of BitClub Network y’know, BitCoin?
Yeah it is. But ClubCoin isn’t meant to be used outside of BitClub Network backoffices.
Oh they’ll tell you about grandiose plans for it to be the number 1 cryptocurrency and how eleventy billion merchants will be accepting as of yesterday etc., but make no mistake, it exists only so that BitClub Network can stop paying their affiliates cash ROIs each month.
After all, you can’t keep paying out cash (or even BitCoin for that matter) if there’s none left in the kitty.
Worse still, the method BitClub Network are using to distribute ClubCoin is “proof of stake”.
This fits right into BitClub Network’s existing investment model, with a promo video explaining that “the more coins you hold, the more coins you are issued”.
So in effect, those who have invested and re-invested the most in BitClub Network, stand to gain the most.
Well, the most of a cryptocurrency that holds no value other than the promise of new investor funds picking it up so that a value can then be assigned to it – all within the initial 1000 day period BitClub Network’s early adopters got on board.
What happens when that doesn’t happen?