Bit Talk Edition 47

Subject: Bit Talk Edition 47

Bit-Talk Newsletter Edition 47
We're All About Bitcoin

Please encourage everyone you know who is interested in Bitcoin and cryptocurrencies to subscribe to this newsletter - I will do all I can to keep you all "informed".

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What's the story with Clubcoin?

It's interesting to observe that Clubcoin has been bouncing around the 35+ cents level on Bittrex for a little while now, certainly for well over a week, maybe two (it's 38 cents today - 28th Sept 2016). What is driving this? I have no absolute idea but it could be the news below about Coinpay?

It could also be pure anticipation of future value to come with the end now in site of Clubcoin's free giveaway. Having Clubcoin at this level is great news for all of us members. With 1,000 Clubcoin worth $380 it resonates as real profit and when Coinpay goes live (and there is great news about that below), you have to think that the value will move up further from then.

So, the big questions for me are when will Clubcoin hit and maintain a $1 dollar (or more) value? Should members sell Clubcoin now if it gets them their seed capital back? Or should we all be looking to buy more of it beyond that which we can mine? Who knows. But it is good to see a sustained value increase.

The should we sell of should we hold question comes down entirely to your view of the future. No-one can tell you for certain where it will go but often the should I, shouldn't I debate is driven by need. If you need the money and ClubCoin offers a solution then the path is clear. But I think waiting to see how Coinpay develops can't hurt.

If you have enough, of course, maybe you can sell some and keep some?

Clubcoin Updates (From BCN)

All of the following articles are straight out of
the Bitclub News Feed:

ClubCoin is going to be a big piece of CoinPay! We believe this coin is more valuable and has more resources, wallets, nodes, and potential than 99% of all coins in the marketplace today. The reason for that is not our tech, its YOU!

The power of BitClub Network is what will make (or break) this coin. We have been distributing the coin 100% free for about a year now and originally we were only giving away 50 million of the 80 million coins that were pre-mined, but we have now changed this to 60 million coins!

That's 10 million more coins we are putting your hands!

Amazingly about 90% of these coins have already been given out and they can be sold on the open market right now. However, the coin continues to rise in value and as of this posting its at about $0.38 on Bittrex.

The reason is simple... It's got a bright future!

We wish we could continue giving this coin away forever but the supply is almost gone and we will be ending the free ClubCoin giveaway on December 31st of this year. Then the only way to get ClubCoin will be to buy it from the open market or stake it! (ED's note, on the Bit-Talk site there is a blog on how to stake)

Our ClubCoin development team is working on A LOT of cool features for this coin right now too. We will be launching paper wallets so that you will have another option to store ClubCoin in the most secure format there is, and we also have a full Java version being done that will help make the code light and a lot faster on mobile devices.

If you have any questions or need help with ClubCoin please add us on Facebook!

We have a dedicated team to support and help with ClubCoin related issues or features or whatever you want! We have two pages, one for updates and then a group forum (please do not spam on this page you will just be banned).

Here are the pages... ClubCoin.co Facebook and Facebook Group

CoinPay - Limited Beta Testing NOW!

CoinPay is finally ready to begin Beta Testing...

This platform has evolved over the last year as our team focuses on two main components... Security and Full Control!

Security is by far THE MOST important aspect of a platform like CoinPay. We have been testing and hiring various security consultants for months who are helping to secure the platform and poke holes in the process that we have invented and are trying to perfect.

CoinPay is the first platform of it's kind because merchants have full control over their funds at all times. With the leading merchant platforms like BitPay or GoCoin you still have to trust them and hope they don't get hacked or have any regulatory issue that would freeze your funds. With CoinPay everything is trustless and we will never have access to your funds or your private keys.

In fact, with CoinPay you can use any existing wallet or Bitcoin addresses in our invoicing system, all you have to do is load them up and you are ready to go! Initially we will have an API with blockchain.info wallets, so if you use this service you can easily integrate and generate addresses along with some added value.

Our goal is to build many API's to make it very easy for merchants to use CoinPay without having to sign up or change how they store Bitcoin.

We also have a downloadable wallet that is very powerful, so if you are already running Bitcoin Core on your desktop you will have the ultimate integration with this platform. Or you can download Bitcoin Core now and sync it up

For ClubCoin we also have a downloadable wallet that any merchant can download and sync up to the platform. From this desktop platform you will generate ClubCoin addresses from within your own wallet and they will automatically be imported into the CoinPay system.

The end result is that you own all addresses in the invoicing system!

Conversion is also a big thing and we have a great way for merchants to auto sell their ClubCoin for Bitcoin or vice versa. We will explain more about this when the platform launches but as of right now we are doing a closed loop Beta test and will soon be allowing a few merchants to test out the platform.

This is just the beginning for this platform and one of the greatest aspects is the ability to customize the invoices with your logo and have simple copy and paste code to put on your website. (the best example to use here would be Paypal Buy Now buttons). Our process will be similar to this for the web version and will be very smooth for mobile devices and QR code generation too.

We believe our best asset with CoinPay is the fact we are only selling a set of smart tools and software that any merchant can use with their existing wallets to accept Bitcoin or ClubCoin, we have built state-of-the-art fraud detection, stats, tracking, and auto conversion between currencies that will get merchants excited about using this platform once they get it going.

We also provide full customer management so you can email invoices to specific customers and even provide automated monthly invoicing for your services. This platform is so flexible that it can handle a small sandwich shop or an entire fleet of taxis with sub accounts to generate invoices on the spot!

As for our revenue model, we have a surprise that we will be announcing right after the Beta testing phase on how you can maximize your commissions by offering this platform to merchants and how you get paid! Get ready, this is finally about to launch!

Last Chance For Mining Shares?

Mining Pools Moved to 1,000 days

As we explained in a previous update we made a move to expire some older mining shares and revert back to 1,000 days of mining. You will now see these days added to the pools and we are updating all content on all languages too. We believe this is the best way to maximize the pool given the market today.

Please understand this market could change in the future and we are going to try and keep our mining pools open to new shares for as long as it makes sense, but at some point we may have to close the pool to new members.

Refund offer... So far we've had 7 members take us up on our offer to refund them and have their accounts deleted. If your mining contract was ended early and you purchased a share before July 1st 2015 then this offer is still open for you to get a refund (minus all earnings and ClubCoin).

If you would like a refund just ask and we will get you the details.

Leadership Event Dubai 2017.

We are going to be holding a Leadership event in Dubai in January 2017. This will be a great event to attend if you are Pro Builder or higher rank, and you will not be able to attend if you are not at this rank by the time of the event.

We will have full details in the next update with specific dates and an itinerary. The idea of this event is a rewarding, relaxing time to rub shoulders with all of the top leaders in BitClub Network.

More details coming soon, but we wanted to give you an early heads up that it will be in mid January (likely around the 10th) so you can prepare for it now

Trading Pool Update, Delayed Launch.

Unfortunately the trading pool in it's current state needs to changed before we launch it. We plan to revisit this right after we launch CoinPay and have a few options we are considering that would allow us to proceed (or not).

The biggest problem is we are too big! If we had a smaller membership and only a few million to trade with then we would consider launching it and trying to figure out the regulation and semantics later. However, our estimates after promoting this product for the past 90 days were well over 100 million in the first few months.

In all honesty, we are not equipped to handle this much Bitcoin across multiple trading platforms with the product how it is now. It's not so much the trader itself, we actually believe it can handle this type of volume, its everything else! The management, compliance, risk, and ROI on a per share basis.

Note from ED > "this next bit is intriguing!"

So rather than taking some shortcuts and just going for it, we have decided to re-work the product and if we can launch something that will be more like our CoinPay platform where you will have FULL Control over your funds and trade on our signals with our algo in your account!

But this requires a major overhaul to the product and so for now... We are delayed!

We know many of you signed up with great anticipation about this product, but we see a much bigger vision for this company with everything else we are doing and the last thing we want to do is risk all of that..

Refund offer... IF you signed up for the $99 membership and you DID NOT purchase a mining pool because your intent was to purchase a trading pool, then we are willing to offer you a full refund on your $99 membership fee.

NOTE... If you already purchased a mining pool this offer does not apply to you so please don't ask!

Mobile Platform, Final Testing.

We were hoping this mobile app would launch today but there are still a few things we need to add and sync up before its ready. Its very very close and it includes a lot more features than the web version.

Basically this is a complete rebuild from the ground up to offer members on a mobile platform and we believe it will become the preferred way to access your BitClub account.

This rebuild includes a mobile web version of the site that will match the theme of the app and be a lot faster than the current version on mobile size screens. The web version will not be changed yet but eventually it will be built to match.

You will get a full overview and tutorial when it launches, we are now thinking October 1st!

|We want to thank you for continuing to support and believe in BitClub Network we will continue to support and believe in you!

Back To John...

Beware Digitil Currency Scams!

I have always cautioned people against jumping into business opportunities involving new "in-house" alt-coins or crypto-currencies where the "offer" involves investing purely in exchange for these coins.. The problem is that they always look highly attractive and come with excellent back-stories and so one is always tempted.

This article here about the police investigating ONECOIN sums up my concerns.

My view is simple. For a coin to be genuine, at the very least, it needs a viable mining system, be that proof of work (Bitcoin obviously meets that criteria) or proof of stake (and ClubCoin meets that one) and, frankly, if it is not the mining or creation of additional coin that is the PRIMARY offer then the opportunity has to have a big question mark over it.

Now ClubCoin was given away to BCN members, it was never "the product" or the offer so ClubCoin is a genuine "additional" benefit. With crypto's like ONECOIN, the coin is the product based (normally) on wild claims that it will be even better than Bitcoin and yet you cannot go out and buy it unless you have joined ONECOIN and invested in their scheme. Even the given away ClubCoin can be purchased on the open market.

Bitcoin may have its faults and it may have its problems to contend with but let us not forget that Bitcoin is already there. Ot has nothing to prove and it is worth real money right now ($600). And for anything to surpass it, then it will need to be spectacular, proven to be better than Bitcoin and will need to achieve what Bitcoin has taken 8 years to achieve.

This isn;t to say that it is impossible to conceive of a day when an ALT COIN comes along that does prove to be better than Bitcoin. After all, look where Ethereum has already gone in just under two years.

If you are offered crypto-currency opportunities, beware. Be certain that it is all it claims to be. Do not be bamboozled by big claims about its potential in the future.

The guys that spread the word about ONECOIN are zealots. They will convince you that you'd be crazy to not get involved and they will have a great back-up story but here's what you need:

The golden rule according to my way of thinking:

EVERYTHING YOU DO WITH MONEY HAS A RISK ATTACHED TO IT UNLESS THE RETURN IS POINTLESS (BANK DEPOSIT) BUT, AT LEAST BE CERTAIN THAT THERE IS TANGIBLE PROOF OF A PRODUCT OR ASSET BACKING ANY SCHEME YOU GO FOR THAT CAN GENUINELY GROW IN VALUE.

The acid test for that is "show me the proof" and is that "proof" public and supportable. In other words, can I go into the market and buy your "cryptocurrency" right now and how much will it cost me. If I can only buy it from you, then I don't want to know.

With Bitclub you can go and see their Bitcoin mining results for yourself on Blockchain and, of course, you can buy Bitcoin directly in the market. You can buy Ethereum in the market and sell it again. And, of course, you can do that with ClubCoin and (to be fair) a whole bunch of other crypto's.

I need that strength of proof at least with any other crypto.

In a future Bit-Talk newsletter, I will talk to you about the dangers of pump and dump coins (that's an entirely more difficult thing to get to grips with.

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