Included in this update…
Deposits/Earnings Display Issues
Level Up Commissions and Infinity Bonuses
Pay it Forward Invoices
Mining Power Update
Withdrawals Paying Faster
CoinPay Invoices Are LIVE
BitClub is now fully integrated with the new CoinPay platform, which means we now accept Bitcoin, Bitcoin Cash, and Ethereum as payment for any products or services. We will soon be expanding this further to support more coins including ClubCoin.
This move to CoinPay was a big one that required a lot of changes to our database and the overall structure of our platform. In fact, it took a lot more work than we expected and is still creating some minor issues. We will address some of the issues in this update and let you know what to expect moving forward.
Overall the move was a big success and everything is now caught up and working 100% as intended. Thanks for your patience as pushed this live.
Deposits and Earnings Display Issues
If you tried to make a deposit into your account using BTC or BCH over the last few weeks then you may have noticed the record of the transaction did not show up in the main ledger of your balance. The credit was happening in almost all of the cases but there was a delay in getting the record from the CoinPay side.
There was also a similar display issue with the earnings table that was not properly showing all records. Both of these issues have now been fixed and all accounts are showing accurate balances.
One of the really great things about dealing with Blockchains is we can always see and track the payments in the public ledger so making corrections is very easy once the data is showing in the proper places. In almost all cases of commissions or balance errors, they will correct themselves when we check the block explorers.
Level Up Commissions and Infinity Bonuses
One of the biggest issues during the switch to CoinPay was found in the Level Up commissions tree. This had to do with invoice detection and how our system treats paid vs unpaid invoices.
This was a nasty bug that took a long time to pinpoint and because of how deep we pay Level up commissions we paused the Level up, Infinity, and the repurchase scripts until we could fully fix it. We expected this issue to last a few days but it ended up being much longer and we just recently (within the last 48 hours) ran all of the scripts to catch everything up to date.
Now we are happy to report everything is paid up and showing properly and you should have seen a nice boost in earnings from the repurchases push and infinity bonuses. We also made some huge improvements to these scripts and we feel like our system is now 10x better and faster than it was before the integration.
The last remaining piece we have yet to integrate is our Pay-it-forward for paying invoices and paying from wallet balances. This piece was never designed to be in CoinPay so we had to build a lot of exceptions into the database to handle these payments
We are very close to making this live again. In fact, we were hoping for it today but it looks like it won’t be another 1-2 days before its running. We know many members use this feature to help enroll new members and make it easy for them to purchase products and we are working hard to bring it back online. Thanks again for your patience on this.
Mining Power Update
Over the past several months it’s been a real challenge for us to deploy new equipment. Our team is working around the clock to help fix the situation but a lot of the issues are out of our control and when dealing with this much power and infrastructure its been hard to sit and wait.
For example, we have one facility in Montana that has 480 PH just sitting on the floor since March. These machines cannot be turned on yet and without getting into all the specifics of why we are hopeful that everything will be running by the end of June now. A large chunk should hit by June 15th
Right behind this, we have another 500+ PH in the same facility that will be turned on once we get the green light, and then another 500 PH coming right after this. ALL of this equipment was paid for early this year and we should have it running between now and the end of the summer.
This is just one facility out of many that we are deploying inside of. We also have another 140 PH that should be turned on any day in Russia. Just waiting again for things we cannot control. Then we have even more being racked up in Iceland and overall we should have well over 2,000 PH running on our pool by the end of the year.
Although we can’t give exact dates we are confident based on where things are now in each of these facilities that we will see a lot of power being turned on in June.
The good news…
We have a strong contract with our partners that currently requires them to pay us daily for the delays and we expect to secure another large payment once this month comes to an end. You can expect to see a large mining credit on your June 10th BTC earnings. We really hope this is the last credit needed before the equipment goes online.
This has been a major pain point for us and we are just as anxious and excited to get this power in our pool as you are. So please be patient as we do everything we can to get there.
If you requested a refund in the last 3-4 weeks, or if you accidentally double paid an invoice and are waiting for a refund please be patient. We are currently delayed in processing these because our new invoicing system is not fully set up for the clawbacks on processing refunds.
It was most important to get everything working 100% and now we can implement the full clawbacks and process refunds again.
On our old system, we could easily issue refunds and it would remove all of the commissions paid and set everything back the way it should be. This new system requires a bit more attention and it’s not quite ready.
We expect this to be ready any day now and if you are waiting for a refund we have you on the list and will process the refund as soon as we can. Please do not open another ticket if you have been told you are in the queue for a refund because there is nothing our support team can do until this final piece is fixed.
Withdrawals Paying Much Faster
You may have noticed withdrawals are being paid much faster within 24-48 hours. This is due to some new scripts and much better support tools in order to process withdrawals. We will continue to wait 24+ hours on all withdrawals due to fraud and any mistakes that may arise.
However, you will notice a very streamlined withdrawal system on all of the coins we support.
We think June is going to be a huge month for BitClub… Most of May was spent retooling our invoicing system and integrating fully with CoinPay. We also added some nice admin tools and stats and tracking for admins to help deal with support issues faster.
June is going to be all about the member’s side. We have new promo videos coming online, a new look website that will launch, a new back office skin, and a mobile-friendly experience that we are excited to bring you. We are also expanding our GPU platform significantly and will have great updates for you on GPU related shares and opportunities. Including the ability to completely control each individual share.
You will see more pairs in our conversion tool so that you can easily convert from one token to another. We are adding ETH and hoping to add all the tokens we support in June, but some may be pushed out until July. We have an entirely new legal team, policies and procedures, and lots more that will launch at the same time as the new website to help protect all of us.
And last, we really are pushing hard to see our Bitcoin mining pool double in June. Ideally, we could add more than 1,000 PH if everything goes right, but we are not going to speculate on that until we know it will be live.
Thanks again for being part of BitClub and we look forward to an excited June!
-BCN Support Team