Bit Talk Edition 22

Subject: Bit Talk Edition 22

Bit-Talk Newsletter Edition 22
We're All About Bitcoin

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Security Updates

There was a news bulletin yesterday (2nd March) from Bitclub Network. I'm going to cover the main points in this newletter but I suggest you still log in to your Bitclub account and have a good read up on the advised additional security measures that you should be taking to safeguard your account.

I've had Google Authenticator set on my account from day one and haven't (touch wood) had one single problem with security so I advise you at least set that up for yourself on your account.

One word of warning though. If you know you are changing your mobile phone do make sure you have authenticator switched off within BCN until you have re-established authenticator again on your new phone.

The first link below takes you to the Google Portal that can help you with Authenticator issues should you have your phone lost or stolen etc.

GOOGLE 2-STEP VERIFICATION ISSUES

All previous newsletters can be seen at Bit-Talk.

Bitclub Stopped A Massive Hack Attack!

I will not repeat the entire story here, you can read that for yourself under the news section inside your account at Bitclub; but when I read the detail on this massive hack attempt my confidence in the programmers ability to defend and protect our accounts was greatly enhanced.

The fact is that we live in a world where there are almost as many highly skilled programmers trying to break things online as there are trying to make things. Us normal folk who have no programming skills would be totally at the mercy of any half-decent hackers if we had no-one defending our important information. I am so tempted now to go into a diatribe about how poor official Government institutions seem to be in this regard but I am resisting.

You cannot take anything for granted on-line and the key message is back-up and secure with as many layers of protection as you can cope with. There are Bitcoin vault services to be found at places like Xapo and Coinbase so if you are acquiring reasonably large quantities of Bitcoin and feel in any way insecure about how to protect them, then look into them.

Finally on the matter of security. I would also suggest that you give some serious thought to all things financial that you access on-line. Many come with additional layers of security that you can easily add.

Mining Giants In The Making?

Rather than images this time, here's a brief summary for you to give you a feel for just how far the mining side of Bitclub has come on.

Last 4 days (taken from 13:00 - 3rd March 2016):

32 new Bitcoin blocks mined. That is $344,000 at a Bitcoin rate of $430.

Overall Mining Share: (taken from 13:00 - 3rd March 2016):

6% of the total!

February BEST month

February 2016, not suprisingly, was Bitclub's best month yet for mining and the next 10-day cycle of mining pool income for the members should be the best yet. Here's an excerpt from the News item from the Club:

"We are now expanding with both BitFury and Bitmain so we can outpace just about anyone who is not a manufacturer themselves and as you can see we have been shooting up the charts.

Our plan is to purchase about 9-10 more PH in March depending on our growth".

The mining news just gets better and better and this period we are in now in the run up to the summer should be highly lucrative.

More Articles Below...

Bitclub Withdrawal Fees

Directly From The Club:

"If you have made a withdrawal lately you have seen we are now charging .002 Bitcoin for all withdrawal requests that are under 2.0 Bitcoin. This fee will stay fixed for right now but if the price of Bitcoin goes up we will decrease the fee to keep it reasonable.

Ultimately you can avoid this fee by waiting until you have over 2 Bitcoin in your wallet before making a withdrawal."

Ed's notes:

Bit of a bummer really but, to be fair, BCN have always incurred charges themselves for the movement in and out of the Club and with so many tiny withdrawal requests made it has always amazed me that there were no withdrawal charges in the past.

And besides, it is a very small charge. If you consider that a 0.5 Bitcoin withdrawal will cost you 0.001 Bitcoins. That's around 42 cents.

What Is Ethereum?

(From Their Site)

Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference.

Why do you ened to know this? Well you don't but it is a nice lead into the next few articles that focus on ETHEREUM and ETH's.

Visit The Site ›

Ahead Of The Main Article...

If you do take up the offer of a mining share through Bitclub in Ethereum...

What is this likely to be worth to you in real terms?

First off, there are no guarantees. We all know that but it is worth repeating so that we not only know it but we really KNOW IT.

But then if you haven't spotted yet that the entire world (economoically) has moved past the point where any real guarantees can be made about anything, then, well... you aren't paying attention.

So anything we can do to give ourselves better prospects for our financial future have to make sense.

The "word" from the inside is that a mining share in the new Ethereum deal that the main article (following) deals with SHOULD generate around 9 or 10 ETH per month.

Right now, on Bittrex an ETH is worth $9.9 and is climbing as I write - it was $8.50 yesterday.

So were you to acquire (let's be conservative) just 5 ETH per month, from mining then, right now, that would be the equivalent of earning $45 to $50 per month.

As there is going to be no time limit on the life of the share you buy that could prove to be significant.

At $10 per ETH then, of course, you would be earning your share purchase ($1,000) back PLUS annually.

But given that the ETH is currently second only to the almighty BITCOIN in real value, then who knows what 9 or 10 of them per month would do for you long term.

The world of Crypto Currency becomes more fascinating daily.

Don't you just love it!

Main Article - Ethereum. What's That All About?

From the Club:

NEW Ethereum Mining Pool

"We have been working on a secret project for the past few months and we are ready to let you in on it!

If you have not yet heard of Ethereum yet we strongly suggest you check it out because many experts believe it has the potential to be just as big (if not bigger) than Bitcoin itself.

What is Ethereum?

To put it simply Ethereum is the Blockchain of ALL things. Bitcoin is used mainly for financial reasons and in our opinion it will always be the king blockchain!

However, Ethereum is a much broader blockchain that is starting to become very useful and is gaining a lot of momentum. Many applications can be built on top of the Ethereum blockchain (stuff like smart contracts to store agreements, property rights, medical records, and pretty much any other records you want to store using a secure blockchain).

Ethereum runs on a token much like Bitcoin that is called Ether (ETH). This token can also be mined just like Bitcoin and servers to protect and verify the network.

Right now Ethereum has a $600 Million USD market cap and it's still very early in it's adoption. In fact, it's really just for programmers and developers right now and is not intended to be user friendly yet. You must know how to use a command line interface in order to do anything with it, but the tools and user friendliness are coming very soon.

We see a HUGE opportunity right now to mine Ether and much like Bitcoin in the early days of mining, Ether can be mined using GPU's and is still small enough where anyone can get in the game.

It's a little bit harder than Bitcoin mining but with our resources, our cheap power options, and of course the biggest asset we have... YOU! We believe we can operate a very large Ethereum mining pool and provide an opportunity for all members get Ether before it really takes off!

How will this Pool work?

First of all this pool will ONLY be open to Founder Members. You must be a Founder in order to purchase a share and we are only offering 1 share per Founder position.

You also must act quickly when this launches because we are only offering 1,000 shares. Each share will be $1,000 USD that can be paid for in Bitcoin or ClubCoin (which will be ready to use in our entire invoicing system this month).

This pool will not require re-purchases like the other pools so you keep 100% of the daily profits paid out per share. There will not be any partial shares and the pool will run for as long as mining Ether is available (no set time limit).

The commissions on purchasing the pool will be paid exactly the same way as Pool 2, where all percentages are the same and everything is paid upline through the binary and level up.

Right now we are currently mining Ether on a small scale and we plan to offer the shares for sale on March 15th with the expectation of the pool starting April 1st. This pool will be LIVE on our main pool website (www.BitClubPool.com)

When you go to the site you will be able to see stats for Bitcoin and Ethereum. You will see mining power and see each block that is mined by our Ethereum pool. At the time of this writing Ether is worth about $8.50 USD and each new block is mined in about 10-15 seconds."

Ed's notes:

Ethereum's coin, ETH is just about the most valuable in the alt-coin market next to Bitcoin itself. In fact if you sort the Bittrex market by Bitcoin traded volume (which tends to be the default when you first look at the market anyway) you will see ETH at the top.

I know for many that this is all jargon so, here it is in simple terms. Right now (and these things are always subject to change of course) ETH is the most valuable cryto currency out there after Bitcoin.

So to get into a little Ethereum mining if you qualify (and all founder position holders do) can only be another potentially profitable move.

Of course, no-one knows exactly what the future holds and the short version is that this is all about EGGS and BASKETS!

Bit-Talk