In what appears to be the latest effort to keep the BitClub Network Ponzi scheme chugging along, the company recently announced it would no longer be accepting or paying commissions in bitcoin.

In a notice sent to affiliates a few days ago, BitClub Network claimed they would cease accepting and paying commissions in bitcoin as of February 1st.

The cited reason for the switch was the rising cost of bitcoin transactions.

This is one of the most important decisions we have ever made … Please read and share!

We have reached a point where the Bitcoin Blockchain (BTC) has become a major burden.

It’s slow, it’s expensive, and it costs our business and, more importantly, our members (YOU) tens of thousands of dollars a day in transaction fees.

We hoped that a scaling solution would emerge, but that’s not the case, and while Bitcoin continues to gain in popularity, it’s no longer practical for a company like ours to accept it.

Since the beginning of the year, the average cost of a new member paying $ 99 for signing up is $ 17. We’ve seen times of $ 25 + and even some as high as $ 40, just to send Bitcoin for a bill. Ouch!

From February 1, we will not only accept Bitcoin Cash (BCH) Bitcoin (BTC), which means that you need to purchase Bitcoin cash from a stock exchange or wallet providers to register mining pools or buy.

You can also convert your existing BTC to BCH, but either way it’s just BCH!

It’s somewhat ironic that BitClub Network feels like they’re being ripped off with bitcoin transaction fees, but they’re happy to continue to profit in the ripping off of bitcoin users.

Since the beginning of the year, the average cost of a new member paying $ 99 for signing up is $ 17.

We’ve seen times of $ 25 + and even some as high as $ 40, just to send Bitcoin for a bill. Ouch!

As a company we are mixed with this decision because Bitcoin is really great for miners right now.

All of these high fees will be passed on to the blocks and eventually taken down into the pocket of each one.

Currently, each block contains between 4-5 Bitcoin (currently about $ 60,000- $ 75,000) transaction fees, which are included in the 12.5 reward.

In some cases we hit blocks with 10+ BTC and the highest was 11.3 bitcoin in a block (block # 500756).

With so much profit, we will continue to pay Bitcoin mines and all mining wins in Bitcoin.

However, we no longer accept Bitcoin for payments and all commissions are also paid in Bitcoin Cash.

BitClub Network is arguably one of the oldest, if not the oldest MLM mining pool Ponzi schemes still in operation today.

BitClub Network launched in mid 2014 on the initial promise of a 1000 day ROI contract.

The company does engage in some mining, but likely nowhere near enough to cover affiliate ROI payments – leading to the recycling of newly invested funds to cover the difference.

Despite the price of bitcoin has increased steadily since BitClub Network launched, the company still ran into trouble when it approached the two-y

🤖 Quick Answer

What was BitClub Network's reason for switching from Bitcoin to Bitcoin Cash?
BitClub Network cited the rising costs and slow transaction speeds of the Bitcoin blockchain as the primary reason for the switch. The company claimed that Bitcoin transaction fees were costing the business and its members tens of thousands of dollars daily, making Bitcoin Cash a more economical alternative for processing commissions and payments.

Why did BitClub Network announce the discontinuation of Bitcoin payments?
The company stated that the Bitcoin blockchain had become a significant operational burden due to high transaction fees and slow processing times. BitClub Network argued that these costs were directly impacting both the business and its affiliate members, prompting the decision to migrate to Bitcoin Cash for improved efficiency and reduced expenses.

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