10 years of working in the nightlife industry in Las Vegas will produce one amazing byproduct, a giant contact database. On, July 7th, 2017, as we were launching our own site, I read a post from one of those contacts. It stated, “Anyone interested in Bit Coin Mining? I have one of top guys in country staying with me so if interested text me”. Seconds after reading this post by Bo Karlen (a long time Vegas nightlife staple), we were discussing a meeting that day. I had about 4 hours to prepare for such a meeting, and only knew a few details. I was meeting someone named Billy Womack from Tampa FL, he was connected to a business named Bitclub Network and that they were in Bitcoin mining industry.
As I do with every venture, I researched what I could. Initially two websites showed up. Bitclub.network and Bitclubnetwork.com. Both websites had matching logos, but one was set up very different, not allowing United States participation. I will explain more about this later. I prepared a list of questions and set off for Panorama Towers. We met at a nice little bistro called The Blind Pig, and 2 other interested parties joined us. I was able to get a few questions in before Billy Womack, our presenter showed us the mechanics of the site.
I asked him how long he had been in the crypto currency world and what got him started? He replied that about 7 months ago one of his trusted friends showed him how much money he was making on Bitcoin, which sparked his interest. First, he learned trading, but soon switched to mining, as he liked the tangible product aspect of it. When I asked him about the duplicate websites, he stated that Bitclub.network was a copycat site, which has no connection to them, regardless of the matching logos. When I inquired about the United States restriction on the front of their website he said that it was a internal policy of their company and that with a VPN application you could still join from outside the U.S. What they are doing is legal in the United States but the company prefers the set up this way.
So what exactly is Bitclub network? The easy answer is, they use a crowd funding platform to maximize their leverage to purchase more mining equipment for their members. The mining of Bitcoin is a very lucrative business. A portion of that value is transferred back to you. Things get a bit more complicated if you want to enjoy the full benefits of this “program”. The company will actually compensate you for helping with the crowd funding as you build your network you grow your residuals. This could potentially turn into a very profitable business I learned.
That type of set up is usually a red flag, and especially when you are dealing with crypto currency HYIPs and ICOs. While it is true that most trading platforms programs are scams, or don’t have any real tangible product, Bitclub Network does. When I asked where the company and servers were located, Billy said Iceland where he just came back from 2 weeks earlier and showed me a picture of the servers on his phone. He states that they have 44 acres of servers built up at an old military base. Billy spent the next 15 minutes of the meeting explaining to us how the back end of the site works. How you can adjust the amount you want to pull out vs. compounding it. He showed us how sponsorship works, how to build a team and the packages available. Minimum amount is 500 dollars, but having up to 3 of those is recommended.
We concluded our meeting but I was not done. I liked what I had heard, and wanted to make sure I was not getting “Sold”. I belong to a few crypto currency specific groups and forums, so I asked, “Anyone ever heard of Bitclub Network? Someone I have known for 10 years had me meet with a top rep today”. I received a few replies from credible sources in the crypto currency world, one of which has been involved with Bitclub Network since October of 2016. He and I chatted on a private message back and forth. He stated that about a month ago, they invited around 200 people out to the server location to verify and see what they were actually doing.
So now that it’s verified, what should we do? I am going to keep an eye on this one. I must place this disclaimer. Any investment is a risk, so please never put in any money that you cannot afford to lose. I know personally, I try out these at the lowest acceptable amount to make sure it works. Please feel free to email us with any questions or check out of community forum.