ClubCoin and what you get upon joining Bitclub is also changing and I have written a new blog on the Bit-Talk website dealing with that,
The other main change to Bitclub Network membership come the 1st February 2016 is to do with the share term on the mining pools. So here's some input on that.
SHARE TERMS
Right now you get a 1000 day mining pool share or shares when you join and buy a new Bitclub Network mining pool package. This means that for a whole 1000 days you get a share or shares of the income generated from Bitcoin mining.
In simple terms, if Bitclub mined at the current pace for the next 10 days and therefore produced 40 blocks of Bitcoin and thus 1000 new Bitcoins:
And if we assumed there were 10,000 shares (and I think that may be pretty close to or just under the actual figure) then each share would receive 0.1 Bitcoins over that 10 day period.
And then 100 days would equate to one new Bitcoin per share if those figures never changed (and of course they will). Not bad given their current $400 value.
At 20,000 shares (probably over the top as, I think we have around 8,000 members and most, of course, own one share) then one share would receive one half of a Bitcoin over 100 days. Still not bad at all.
The membership can only be calculated on positions held - I, for example, hold 6 positions - so membership at around 8,000 means POSITIONS at around 8,000 and I, for example, own 11 shares through my 6 positions. That is, of course, way above the average. And yes, of course, there are those that own more positions and more shares.
My 11 share breakdown is 5 mining pool 1 shares, 1 mining pool 2 share, and 1 mining pool 3 share. An MP 1 is 1 share, an MP 2 is two shares and an MP 3 is 4 shares.
Back to the 20,000 shares calculation. Half of one Bitcoin every 100 days equates to 5 Bitcoins over 1000 days. Assuming (totally inaccurately) no compounding. In very simple terms then, using those figures, 1 share can grow 5 Bitcoins.
Now remember that, in addition, our mining power is growing and it will almost certainly grow over the next six months at a much faster rate than membership positions.
In counter balance of course, the difficulty factor in mining a new block increases. But we cannot calculate "unknowns" so I am trying to keep it simple.
Let us assume that the shares stay at 20,000 in total.
With Bitcoin at $400 then a 1000 day share term will propogate (create) at least another 4 shares. Every one of those shares will also have 1000 days to run of course and will in turn be able to propogate another 4 shares**
When the change to share term comes on 1st February, they will run for 600 days. So instead of getting 4 new shares over the term of your original share, you will now get 2.5 extra shares.
Still a handosme reward for your original investment as they can also in turn each propgate anther 2.5 shares and so and so on but 2.5 isn't 4 !
Why settle for 600 days if you can get 1000 days. You should be bashing the doors down !
** It is important to remember that all AUTOMATIC partial share repurchases have the same terms as the original. So, shares purchased now and all partial shares propogated automatically from those shares carry 1000 days for as long as you are a member. It is only when you purchase manually a new share or partial share after 1st February that you get the new 600 day term on those NEW purchases.
See the new blog on Bit-Talk for ClubCoin changes. Go to the main page or hub and then click on the blog link.
