We continue to go back forth about the future of ClubCoin. This is sort of an internal battle we continue to have about what is best for the coin. On one hand, we could easily convert all the tokens to the ETH blockchain, or Binance blockchain or any other chain to build on top of their platforms.
By doing this we will instantly be able to use the new wallets, security and the thought is we could potentially get support from more exchanges to list it.
However, on the other hand, we have a very valuable blockchain that has 4 years of history and it’s distributed across many nodes. We have one of the ONLY remaining proof of stake coins that are actually working.
There is HUGE value in continuing to run our own blockchain and to keep it running in its original form (especially when it comes to CoinPay).
So here is where we stand…
Right now we are working on a hard fork that needs to happen either way and depending on how the fork goes we will decide whether to keep the coin on its own blockchain and continue with new distributed nodes, or whether we tokenize it and move to another chain where we lose all control but gain some easy to use features and the benefits of a bigger chain.
One of the main reasons we have yet to make a decision is because a lot of the ERC20 tokens are now dead and the market is a lot smaller than we imagined. Most of the ICO’s that were built on ETH are now either worthless or barely support so we are a little hesitant in making this move.
We also feel like ClubCoin is different! We distributed this coin in 2015 and we NEVER sold the coin so we don’t fall under any of the security tokens law. There are not a lot of projects around today that are still running and if we can continue to support own blockchain then it can be extremely valuable for all of us.
Plus, if we can eventually use it as the base settlement token of CoinPay there is MASSIVE value in this token and keeping control over it will be important! So the future of ClubCoin is currently being debated and we plan to make a decision in the next few months after the fork.
Keep your eye out for a new version of the ClubCoin website with a new core wallet that you will be able to download after the fork is completed
Thanks for your patience while we sort this out.
Speaking of CoinPay… We have a big announcement coming on July 1st about the future CoinPay. We were going to try and fit this one in here but it got a little long and we want to dedicate a full update to CoinPay so we can provide a time-frame and what you can expect from this project moving forward.
Please check back here on July 1st for this major update!
Thanks for being part of BitClub Network. We know this update had some negative news but we are pushing forward every day trying to make this opportunity the best in the crypto and MLM space.
The good news is we think Bitcoin has bottomed out and is already starting to rise up and gain attention again. We hope this next run up will set new all-time highs and get our company back on track for another nice bull run, so hang in there!
-BCN Support Team