The BitCoin BitClub Guide - Part 8

If you want to purchase Bitcoin as an investment and you want to join the BitClub Network Company, so that BitClub can mine Bitcoin on your behalf to grow a stable and increasing investment for you, please Join BitClub Here For Free. Once you join, you will be set up with a free lead account and receive follow up emails detailing how you can create a Bitcoin investment account with The BitClub Network. For any answers to questions Contact Clyde Thorburn Here.



However, in some cases it may take longer depending on the wallet you are using. Most of the main wallets (Coinbase, blockchain, bitpay, etc.) all have a fee built in for miners and are very fast. Once BitClub receive the 6th confirmation your invoice will be mark as paid and commissions will follow. In some cases it might take longer to get 6 confirmations if you are using a wallet that allows you to set a mining fee and this fee is zero it can take 3 to 4 hours. If you set the mining fee high (standard is .0001 BTC) you will get confirmations quickly. If you are showing Pending status for longer than 24 hours you don’t need to do anything about it, BitClub have received your payment for the invoice and you are fully active in the BitClub system for whatever you purchased, BitClub will just hold the commissions to paid upline until BitClub receive the 6th confirmation. BitClub also have a redundancy system in place that will check the blockchain for transactions 3 times. So if you send Bitcoin to the address and it does not show up immediately BitClub will try it again within the first 12 hours and then two more times within a 72 hour period. In 99% of cases the redundancy will catch the transaction and mark it paid so BitClub will not investigate a transaction until the 72 hour window has passed. In this case please contact BitClub and BitClub will manually look through the blockchain to determine what happened.

Strict Refund Policy. BitClub have a very strict refund policy due to the speed at which the BitClub compensation structure and mining pool earnings are paid out. In most cases you cannot get a refund for any reason unless there is a clear mistake or very good reason for it. Also, this refund request must happen within the first 72 hours of payment or before 3 full pay cycles are paid out. If a refund request is made after this time BitClub will not honour it. However BitClub do offer another option that consists of requesting your mining equipment. Buyout Option. If you would like to buy out of your mining pool you have an option to do so at any time during the first full year of your membership. This is not a refund, rather this you requesting to take possession of the mining equipment that you have purchased with your share of the pool. In this case you will automatically forfeit all future mining pool earnings in all pools, including earning any commissions from the compensation structure. With this buy out option you will be shipped the sum of all your hashing power at the time you request the buyout. You will take full possession of these miners and will still be eligible for any remaining warranty on the machines. When exercising this option, it is final. You will own the mining equipment and be fully responsible for it. If you are interested please open a support ticket and request a valuation of your account. You will be responsible for all shipping and handling charges.

Mining Pools. Mining the Bitcoin. Mining is the process of adding transaction records to Bitcoin’s public ledger of past transactions. This ledger of past transactions is called the block chain as it is a chain of blocks. The block chain serves to confirm transactions to the rest of the network as having taken place. Bitcoin nodes use the block chain to distinguish legitimate Bitcoin transactions from attempts to re-spend coins that have already been spent elsewhere. Mining is intentionally designed to be resource intensive and difficult so that the number of blocks found each day by miners remains steady. Individual blocks must contain a proof of work to be considered valid. The primary purpose of mining is to allow Bitcoin nodes to reach a secure, tamper-resistant consensus. Mining is also the mechanism used to introduce Bitcoins into the system. Miners are paid any transaction fees as well as a “subsidy” of newly created coins. These both serve the purpose of disseminating new coins in a decentralized manner as well as motivating people to provide security for the system.

Read more about Bitcoin and The BitClub Network.