The BitClub was also in Germany’s crypto scene is active and could attract a lot of investors and customers. The Bitclub has collected with his scams 722 million dollars. How did the snow ball system to such large attention? In this article, we try to bring light into the darkness and to understand the intricacies of Bitclub with the Mining Hardware manufacturer Bitmain.
What is the BitClub is?
The BitClub was offered a snow ball system, which Bitcoin Mining Service. This Investment were offered packages with different computing capacities, from 500 USD up to 10,000 USD. In addition, investors were given the opportunity, the other for the BitClub to attract and sell new Mining packages. The payment of the pacts was always about Bitcoin, and for each sold package commissions were paid. So you could even make a little money, if the new referred customer from a specially recruited customers, recruited a new customer. Sounds funny? – Well, Yes, exactly MLM systems work.
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BitClub was a well-packaged Ponzi Scam
In the crypto world, the presumption of innocence does not apply, unfortunately. It is exactly the other way around: You should actually be compared with each project, suspicious of what Coins are sold or other possibilities of an investment offering. Up to now, almost every network marketing company has in the crypto-industry as a snow ball system OneCoin made: Including, a plus token and a cloud token. Why the offered Trading Bot from the cloud, the token may not work, you can read here.
The BitClub was a very good-Packed snow-ball system. The amazing thing was that you could make the Bitclub in the Hashrate distribution of the Bitcoin network to locate. As you can see on the graph, was able to unite the BitClub Mining Pool at times, over 10% of the total Hashrate to itself. This convinced the last doubters, in the Multi-Level Marketing System to join.
Very many people have fallen to the BitClub Scam pure. How you avoid something like this in the future, you can find out in our Scam Guide. The best thing to do is to be familiar money anyone.
BitClub was a High Level Krypo
The idea to create a consortium together to operate Bitcoin Mining, is a honorable idea, and describes the thoughts of a Community, but unfortunately, many providers of Bitcoin Mining take advantage of the trust of the customers relentlessly. And so it was-and, unfortunately, it had to come. Because after the huge Bitcoin Dump at the beginning of 2018, were payments of the Mining drastically reduced. As a consequence, the share of the total Hashrate took off, only to disappear later, then completely in Nirvana.
The founder of the Bitclub sitting in the United States is already on the dock. It is always amazing to see how these thought about their investors. These were called “stupid sheep”.
Bitcoin Mining giant Bitmain as a accomplice of the Bitclub Networks?
The BitClub and its respective “Leader” had shot promotional videos in which they showed in Iceland, the large Bitcoin Mining farms. The Mining Hardware from Bitmain and banners everywhere, Plakte, and the Branding of the Bitclub hung. Even on the individual Mining equipment stickers Bitclub were.
How could the emergence of the BitClub so with a 10% global share of the Hashrate on blockchain.com and Ming farms operate? Now seems to have an answer to the question is found:
Bitmain is suspected with the Bitclub to have worked together. This is not only a Tweet from an insider suspect, but also the withdrawn IPO of Bitmain in the United States.
Breaking: Bitmain to cancel its U.S. IPO plan. Insider tells there is investigation by the American DOJ on Bitmain selling huge amount of equipment to ponzi scheme BitClub with Bitmain’s Yoshi Goto is playing a key role! Some of those sales numbers were apparently fudged to accomodate
— BTCKING555 (@btcking555) January 13, 2020
Bitmain is being investigated by the US Department of justice
The Bitcoin Mining giant Bitmain is now in the urgent suspicion of BitClub to have large amounts of Mining Hardware will be provided. Bitmain wants to perform a longer initial public offerings (IPO) in the United States and hoped to collect up to $ 500 million of capital. But if the allegations against Bitmain would be untenable, why would the company withdraw the planned and hard-to-required IPO? Under the suspicion of fraud, such a large IPO would certainly be a Disaster. Yoshi Goto, a senior employee of Bitmain, have executed major transactions with the BitClub and then covered up. We will stay tuned and report, as soon as there is news!
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Trust your money not anyone on!
Unfortunately, you can’t deny that in the Crypto-Space drives a whole lot of fraudsters around who are always trying to pull the gullible investors with the money from the bag. Often lured with unrealistic and guaranteed returns, money for the new “Super”-crypto currency collected or rogue trading places advertised.
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