Included in this update…
Slow Confirmations – New Upgrades
Bitcoin Cash, ClubCoin Invoices
Dubai Trip Reimbursements
Bitcoin Mining Update
BitClub continues to grow at record pace month over month and it’s been challenging at times to keep up with a number of new sales coming in. However, we continue to press forward and make good progress on all fronts. Right now we are scaling and upgrading just about every piece of this company and we appreciate your patience and understanding.
Last month we upgraded our servers and the entire database structure, which gave much-needed relief on scaling it further. We also made big upgrades to our admin management system which has allowed us to hire more customer support reps and put management teams in place.
Before we could hire new people we really had to trust them because dealing with Bitcoin is much different than dealing with any product or service. Now with our upgraded platform, it takes a lot of the “trust” out of the equation so we can focus on scaling and providing top-notch support.
This new system took nearly 1 year to build and get all the security protocols right, but now it’s live and we can go on a hiring spree!
Our main focus will be on hiring new customer service reps to support Korea and Japan. Both these markets have shown incredible growth and we want to thank all of our Korean and Japanese leaders for being so patient and supporting their teams as we grow together.
It’s truly amazing what our leaders have accomplished in these markets with such limited support and we plan to have many good updates for you in the coming weeks and months.
Don’t worry, we are also focusing on the rest of the world (everywhere except the United States market) which we plan to make further crackdowns in 2018 to protect everyone. But you will see a lot more customer service reps, marketing tools, refreshed content, and much more as we build for CoinPay launch and move into our 4th year of operations.
Slow Confirmations, New Upgrades to fix it…
Over the past few days, you may have noticed Binary credits were not going into the Binary in a timely manner. This is actually not a Binary, it was an issue with needing 6 confirmations on the invoices before the points are credited. In some cases, this was taking up to 10-15 hours to complete.
The problem lies in a few places… The overall Bitcoin network is overloaded with a lot of new transactions waiting to be confirmed. We see a lot of members setting a very low mining fee (by default from their wallets) and this is taking a long time to confirm. So even though we detect the payments instantly, it takes a long time to get 6 confirmations and get paid into our system.
We are also seeing our Block Explorer overloaded with transactions and we continue to optimize this as we process more daily transactions.
To fix these issues we just changed the confirmations to 3 instead of 6 before we will credit binary points. We are also pushing our daily CRON back about 30 min to allow for any late confirmations and transactions to count and settle within the same pay period.
However, just to be safe you should NEVER except to receive credits in the same pay period if you are within 1 hour of the pay period being over. This is just the reality of the Bitcoin network today. In some cases, this might be 2-3 hours so as a rule of thumb just expect 3 confirmations to push the invoice into the next pay period if you are getting close to the end of the period.
We increased the capacity of our own block explorer and changed some rules on checking invoices and pushing credits into the binary. This should help keep all invoices accounted for in a timely manner and cut back on these delays.
Bitcoin Cash and ClubCoin for Invoices
We are excited to announce that we will be accepting Bitcoin Cash and ClubCoin for all invoices starting in December. Using Bitcoin Cash is much faster with their block size limit at 8 MB there are hardly any full blocks and we are getting ready to support this chain in a major way (especially now that Segwit2x is no longer an option).
Using ClubCoin is also much faster and we will soon be launching the CoinPay platform to a controlled group of merchants so be ready for some big news on ClubCoin and CoinPay. We will do a big update on this toward the end of the month, lots of exciting things happening with the company team!
Dubai Trip Reimbursements…
We had an incredible leadership event in Dubai a few weeks ago. It was truly amazing to see people from all over the world come together and celebrate their success. BitClub has made many people millionaires over the past 3 years and to see how many lives we’ve changed with this opportunity was beyond anything we imagined.
If you attended the event and you verified your username with our staff in the back then you will be getting a credit in your Bitcoin credit wallet based on your rank. You will see this show up on Friday as an Admin Credit. As a reminder…
– Monster Builders and above will receive – $1,300
– Master Builders will receive – $800
– Pro Builders will receive – $600
One of the highlights of the event was when all the Mega Monsters were on stage receiving their new BitClub watches. These watches are valued at $109,000 USD each and every Mega Monster who hits the rank will receive one. We were happy to give away 14 of them to a group of leaders who truly deserved them and now we have a total of 17!
So since the event, we have already seen 3 more people hit Mega Monster and there is a dozen more who are close and could reach the rank by then end of the year. WOW!!
Thanks to everyone who attended the event we hope to plan another one soon!
We are having some issues with Ethereum, Ethereum Classic, and some of the other GPU coins from time to time. Right now we are working as fast as we can to clear out withdrawals and we have caught everything up through October.
If you have opened a support ticket about not receiving a payment please close it or double check to make sure it has been paid. We are going to be working to get everything current over the next week but there are still some challenges we continue to deal with for Ethereum and ETC especially, so please be patient.
There is no need to open a support ticket if you have a “Pending” withdrawal. The only time to open a ticket is if your withdrawal is marked “Paid” and you never received the funds. If it’s Pending it will get paid!
Also, if you see your transaction canceled it’s because you have an invalid address so double check your addresses before saving them.
Bitcoin Mining Update
The core of our business is Bitcoin Mining! We continue to expand as fast as we can and you may have heard the announcement we made in Dubai about having a total of 1,156 PH already paid for and in the pipeline. This power will be turned on from now until the end of January.
To put this in perspective it took us nearly 3 years to build up to 360 PH and we were excited about placing orders of 5 and 10 PH at a time. Now we will have almost 4 times this amount in just a few short months coming online. This will push our pool into the top 5 and everyone should see a nice boost in their daily mining earnings.
We are already planning another large purchase in December for new equipment that will be deployed around March/April. When dealing with large orders like this the logistics are much greater and we are just now getting the schedule down to expand.
Also, we have a few surprises that we will announce in December that will give everyone more opportunities to earn. Somehow this opportunity just keeps getting better and we are doing everything we can to keep up with your demand!
We already know 2018 will be a huge year for us as we move into a dominating position in both the Bitcoin and GPU mining space, so stay tuned for more good news.
Thanks for being part of BitClub Network!