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BITCLUB NEWS
Updates, New Mining Pool Changes and More!Date: June 16th
Included in this update...
- New Back office (Pro, Master and Monster)
- New Mining Pool Upgrades
- GPU shares begin July 1st - 2000 day contracts
- Pool & Withdrawal Delays - Fixed!
- DASH No Longer Available GPU Shares
- ETC Fork Commissions Paid Out
- Hardware Wallets Batch #2 Update
New Back Office... Available to Pro Builder, Master and Monster
We are finally ready to release our new back office. This project was a complete overhaul of our system to separate out key components so that we could continue to hire developers to work on pieces that were isolated from each other.
In short, we thought we would roll this out in January but it took until now to have a stable bug free platform. However, we still want to make sure it's bug free on a live test so we are only allowing Pro Builders, Master Builders, and Monster Builders to login and use the platform.
This platform has a completely new backend that powers it, however we kept the look the same. (exactly the same). So you wont notice much of a cosmetic change but you will see a lot of new upgrades and this new platform is tied in with our Android app that will be launching in the next week on the Google play store.
Some of the new features include...
1. Detailed wallet stats for every wallet (BTC, ETH, ETC, CC, ZEC, DASH). You can view stats based on different types of earnings/expenses, filter by date range etc. Look for this in the "Stats" tab under each individual wallet page.
2. Detailed Binary Cycle Stats can be seen from My Team >> Binary Tree page and then look to the right of "Activity for the last 3 cycles" and click on View all.
3. Now you can filter, view, and download a list of Personals in CSV, XLS, or PDF format. To find this go under My Team >> Personal Referrals
4. Communicate with your team using a personal team chat. This allows you to send messages through the platform to your team members. Right now this is pretty basic but we plan to expand this so you can use the platform to update and inform your team. To find this go under My Team >> Team Contact.
There are a lot more stats and other features including faster loading, caching and a brand new database that will soon sync up with our mobile app.
To try this platform you can login directly by going to https://members.bitclubnetwork.com
Or you will see a link on the login page to click and login to new platform.
Our goal is to have only top leaders use this platform for about a week or so and report back any last bugs we may have missed. After making some final tweaks we will make it live for everyone. We will likely run this parallel with the old back office for about a month or so just to make sure all parts are working and stable before we kill the old back office.
Try it out and report any bugs by opening a support ticket
New Mining Pool Upgrades...
As of today BitClub Network has purchased a total of 317 PH on behalf of all members. Currently you will see about 240 PH is live an hashing in our pool with the remainder being sent as soon as the manufactures can assemble it and ship it.
We believe 500 PH is very doable by the end of the year so we are making some upgrades to our pool servers and we also are making few changes to the mining pool structure itself. These new changes will go live on July 1st so make sure you are aware of them.
Change #1... With the current market conditions and the size of our orders we need to extend the 10 day waiting period to 30 days. This means when you purchase a new mining pool share your 1,000 days will not start earning for 30 days. This also includes partial shares!
Change #2... We are going to be consolidating the partial share payments earned each month into 1 payment after the month is over. Basically, our system is being overloaded with partial share repurchases and all of the commissions that need to be paid on each of them needs to be optimized.
This solution will not only help to consolidate the payments but it actually gives you up to 30 days more hashing time on each share and it makes the tracking and management much easier.
Example... This is a sample table shown under the mining stats page for May partial shares:
| Total Shares | Date Paid | Expires |
| 0.0128 | 05-01-2017 | 965 days |
| 0.0126 | 05-05-2017 | 969 days |
| 0.0127 | 05-09-2017 | 973 days |
| 0.0128 | 05-13-2017 | 977 days |
| 0.0127 | 05-17-2017 | 981 days |
| 0.0127 | 05-21-2017 | 985 days |
| 0.0131 | 05-25-2017 | 989 days |
| 0.0135 | 05-30-2017 | 994 days |
Each time you earn 2.5% of the mining pool share the system automatically makes a repurchase. You see the repurchases individually like shown above. You will continue to see your partial shares earned in the current month, but after the month is over we will consolidate this table and sum all the of the partial shares earned to create a single monthly entry.
In this example the total new shares earned for May was 0.1029 shares, so all future payments will be made on this single figure. We are also going to give you the most days remaining on the last share earned in that month. (So in this case it would be 994 days).
So here is what the new table will look like...
| Total Shares | Date Paid | Expires |
| 0.1029 | May 2017 | 994 days |
This consolidation will happen sometime in the next 2-3 weeks (we are hoping July 1st) and when this happens it will be much easier for you track and see the stats under your wallet transactions. So please don't be alarmed when you see your records shrink because the amounts will stay the same!
GPU Shares Start July 1st - New 2,000 Day Contracts
The latest batch of GPU mining equipment that was sold in June will begin paying on July 1st. Just like the previous GPU shares all mining shares will begin hashing Ethereum and you can switch to whatever coin you wish after it goes live. We may offer one more round of 2,000 shares this month that will also go live July 1st, so stay tuned for details on this if you still want in this batch.
One big change we are making to ALL GPU mining shares is we are removing the "lifetime" share terms and moving all contracts to a maximum of 2,000 days. After mining in this space for the past couple years we have a much better handle on the life cycle and maintenance of these GPU rigs and we think many members were confused by the "lifetime" phrase meaning their own human lifetime.
When we said lifetime, what we meant was the "lifetime" of the machine until it dies or is no longer profitable to maintain.
2,000 days is a long time! We are talking about 5 1/2 years of running a machine at full capacity 24/7. Right now we are constantly having to replace little things like fans, memory cards, PSU's, mother boards, and GPU cards die as well. When we include all the labor to keep these machines running 24/7 we think 2,000 days is more than fair.
Starting July 1st all shares will show the remaining days left, and this will include time that has already elapsed from ALL shares. If you are not happy about this change then you can always request your GPU rig and you can mine on your own. The buyout of your GPU will be all profits earned minus the cost of your machine and we will ship it to you ASAP!
NOTE: 2,000 days from now is the year 2022 and when these contracts reach that point we may be in a completely different situation and can do some type of buyout or who knows? But for today it was important that we set a hard limit on the time these GPU shares would pay because we estimate 80% of these machines will be dead by then.
Now Some Great GPU News...
There are some really exciting things happening in the GPU mining space today and our platform is set up perfectly to take full advantage of this ride up. For those of you who bought early shares you are no doubt happy with the results from both Ethereum and Zcash.
We believe this market has A LOT more room to run and we are going to be aggressively expanding our mining operations to take advantage of these next 5 years! In fact, we will be making a big announcement at our upcoming leadership meeting in Iceland where we have invited some of our top leaders to take a private tour of our mining facilities.
After we make the announcement in Iceland there we will be an update here with everything said.
Pools & Withdrawal Process Upgraded - Delays Fixed!
Due to the amount of daily earnings and withdrawal requests from all of the coins we now support (Bitcoin, ClubCoin, Ethereum, ETC, Dash, Monero, and Zcash) we had to make some big upgrades to our scripts to improve this process and this is now complete.
Some of you may have experienced delays in receiving your payments and withdrawals over the past 2 weeks and we apologize for this. Everything is now caught up to date (or will be by the end of today) and you can expect a much faster payout moving forward.
Thanks for your patience!
DASH No Longer Available GPU Shares
Mining DASH with GPU's is no longer profitable. We have seen some big deployments of new ASIC chips in the DASH ecosystem and this makes it hard for GPU profitability. This means we are going to be shutting down the DASH pool starting July 1st.
If you are currently mining DASH you should switch over ASAP because you are losing a lot of money by not being in ETH or ZEC right now.
If you don't switch manually then your shares will automatically switch over to Ethereum starting July 1st. We will continue to support DASH wallets and we really like the future of where DASH is headed, they have a great development team and concept with their master nodes, but right now it doesn't make sense to use our GPU power to mine DASH.
We strongly suggest you withdrawal all of your DASH coins
Ethereum Classic Fork Commissions Paid...
These were long overdue... But just recently all shares of the initial GPU Ethereum mining pool have been issued the matching ETC tokens from back when the chain forked. These coins have been credited to your ETC wallet and you can now withdrawal them easily.
NOTE: Our new Hardware Wallets also support ETC so you can withdrawal them to your device if you have one. This is actually the safest place to store ETC right now!
Hardware Wallets Batch #2...
We had a slight delay in the second batch of hardware wallets (basically we sold too many too fast). This caused some delay because the company couldn't make them fast enough for our demand but now we are stocked full of wallets and will be shipping all outstanding orders this week.
You will see your order marked as Confirmed and then marked Shipped once we have verified your address. After this you will receive the tracking info so you can make sure to find your package. We know some of you have been waiting a long time to receive this so thanks again for your patience!
Moving forward we have a better system in place, and a stacked supply chain so we can process orders as they come in rather than in batches. So feel free to order the hardware wallets and know you will receive them a lot faster.
Stay tuned for the next update, it will include a lot of new features in the new back office as well as some big updates on our CoinPay launch, GPU mining expansion, and much more!
Thanks for being part of BitClub Network!
Sincerely,
-BCN Support
copy pasted from my back office at
www.bitclubnetwork.com
