How The Bitclub Network Works Questions And Answers – Part 2

https://youtu.be/YgqF0JIAc1U

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 for free at http://bitclub.network/clydethorburn. 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 at http://clyde-thorburn-seo-specialist-johannesburg.strikingly.com/#contact-clyde-thorburn.

What is BitClub Network’s Refund Policy? BitClub have a very strict NO 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 seventy two hours of payment or before three 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, the ‘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, its 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. Can BitClub Network Verify Mining? Yes. BitClub have a public mining pool where you can track BitClub’s hashing power in real time – www.BitClubPool.com. As BitClub’s membership base grows bigger, so does BitClub’s mining pool and you will see more hashing power being added to our pool website, which you can track in real time. Having more hashing power allows BitClub to hit more blocks on a daily/weekly basis. You can also verify our pool with the following third party resources. View BitClub Pool on the Block Chain at blockchain.info/pools. Block Trail keeps more detailed records at blocktrail.com/BTC/pool/bitclubnetwork. How Does BitClub’s Mining Pool Work? If you are not familiar with BitCoin mining here is a very basic overview. Every ten minutes a new block of 12.5 Bitcoin is found by someone in the network who is hashing. In order to find a block you must attempt to solve a simple mathematical problem using a cryptographic hashing function. To see an example of this go to BitClub’s pool website and under Pool Stats you will see a column showing Total Shares in the Round.

This is showing how many times BitClub have attempted to solve the mathematical problem since the last Block that we solved. You will also see the column right above showing Current Block Difficulty. This difficulty is the entire network difficulty which is basically showing how many times on average it would take to guess the correct answer and be awarded the block of 12.5 Bitcoin. The more hashing power you have the higher the probability it is to guess the correct answer and solve the problem. When the total shares in the round are equal to the difficulty it means a block should hit, in theory. But there is also luck involved and this can be tracked by how many times it actually takes before the block is found. So if you look in the table on this same page at the bottom you will see a list of each block that has been found by BitClub’s pool. You will see under the column labelled Diff how many actual hashes the BitClub machines performed before guessing the answer and hitting a block. Sometimes BitClub get lucky and sometimes BitClub gets unlucky and go way over a one hundred difficulty before a block is found. This will constantly vary because of many factors but it also averages out over the long term and the more hashing power the BitClub pool has, the smaller the variance will be between blocks.

Read more about Bitcoin and The BitClub Network at https://mypr.co.za/how-the-bitclub-network-works-questions-and-answers-part-1/.

From: Clyde Thorburn

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