Celebrating the 500 Blocks Milestone. The BitClub total amount of Bitcoin mined to date is 13,104 (including transaction fees) which = $5,464,368 at today’s price. If you look at the BitClub pool website you will see just under 500 but keep in mind BitClub had 10 blocks mined on the old BitClub platform before switching over. You can see the accurate count on the blocktrail.com website. This total is only Bitcoin mined from the BitClub branded pool and does not include all the Bitcoin BitClub have earned mining in other pools or the mining that was done before the BitClub pool was even branded on the blockchain. BitClub estimate the total mined to be closer to $7 million. Many mining operations will be forced to close their doors after July 2016 if they are not efficient and since BitClub have taken the time to build their infrastructure correctly and BitClub continue to be more profitable on a month to month basis BitClub think that their biggest opportunity may come after the halving occurs.
Of course, BitClub don’t know for sure what is going to happen at the halving, but BitClub do know that the BitClub pool will be running on the most efficient mining chips in the world, hashing in the most efficient environment on the planet, giving all members the best opportunity to earn Bitcoin for years to come. Why Bitclub Share the Profits. This is due to the fact of how mining actually works as it is always getting more difficult for smaller mines to make profits. This is actually why mining pools were created in the first place. In the early days, anyone could mine with their home computer and hit a block. Now, even if you have millions worth of equipment you still might be too small to solo mine and be profitable, so the entire industry has quickly turned to mining in pools and sharing profits. In order to be profitable today, you need to have massive purchasing power and this is where you, the BitClub members come in.
With the BitClub business model, instead of raising millions of dollars from a VC firm or private investor, BitClub are allowing members to pool their money together and make large purchases. This means bigger discounts on hardware, fewer electricity costs and a much more efficient mining operation. Plus, BitClub have a very strategic way that members can pay for the daily electricity, maintenance, and other costs that come with running a large-scale mining operation like this. This is where the real power and profits created by BitClub come in. By taking a percentage of all the Bitcoin mined and putting it toward a re-purchase BitClub have basically created an automatic “auto ship” that members never have to pay out of their pocket. For chipping in daily, BitClub members are rewarded with a larger share of the pool. With a structure like this everyone wins. This is why BitClub believe they can become one of the largest pools in the world.
Read more about Bitcoin and The BitClub Network.
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