you mean, starting e.g. from here: https://bitclubpool.com/index.php?p=stats and here: https://www.blocktrail.com/BTC/pool/bitclubnetwork
Yes, exactly.
The blocks they are mining are being awarded to https://blockchain.info/address/155fzsEBHy9Ri2bMQ8uuuR3tv1YzcDywd4 And blockchain.info does record those blocks as being found by Bitclub. So Bitclub does seem to have significant new BTC coming in.
As long as you trust that whoever you sent money to does actually represent Bitclub, further verification does not seem necessary.
I do understand that $3500 isn't exactly backbreaking for this project, it just makes me anxious to see anyone start buying in so fully to things that seem 'too-good-to-be-true'
On Fri, Dec 29, 2017 at 10:34 AM, Luke Kenneth Casson Leighton < lkcl@lkcl.net> wrote:
crowd-funded eco-conscious hardware: https://www.crowdsupply.com/eoma68
On Fri, Dec 29, 2017 at 3:00 PM, Sam Huntress samhuntress@gmail.com wrote:
We all seem to be talking past each other and I fear we may have some confusion about what a ponzi scheme actually is.
In a ponzi scheme, money is taken from 'investors' under the false
pretense
(lie) that it will be used to fund operations with a positive return on investment when actually that money is just stashed and given back out to 'investors' as a fake 'return' on their 'investment'.
... down the tree until it collapses, yes.
apart from the US Federal Reserve Ponzi scheme that was cascade-created in 2007 by issuing UNREGULATED bonds a THOUSAND times larger than the entire U.S. Govt regulated market at the time and so consequently it is still in the process of collapsing, what's the largest ponzi scheme that's ever been recorded in human history?
in that historically-recorded ponzi scheme, what order of magnitude of money changed hands? (ignoring the multi multi trillion dollar 2007 US Fed Res ponzi scheme)
In this case, the investments they claim to be making are almost 100% traceable and provable. The Bitcoin ledger can be used to see which
wallets
all mined bitcoins have gone to and Bitclub can use standard
public/private
key signatures to verify that they own one or more of those wallets.
you mean, starting e.g. from here: https://bitclubpool.com/index.php?p=stats and here: https://www.blocktrail.com/BTC/pool/bitclubnetwork
If Bitclub cannot provide this verification then they may not be technically competent enough to make good investments.
Given that they already have your money, the best thing to do is hope
that
whatever they are running (legitimate or not) holds up long enough for
you
to get back what you put in.
sam you underestimate the scope of what i seek to achieve here. i'm looking to leverage this so that the team of engineers can be paid for to design the RISCV-64 SoC, the eco-conscious smartphone can be paid for, and in about a year to 18 months time a foundry line of chips can be paid for - outright.
i'm certainl not "looking to get back $3500" that's for sure! and *i* am not *personally* looking to get back money beyond that which is sufficient to live on: i am looking to leverage this to fund some absolutely amazing...
... AND ECO-CONSCIOUS ....
... projects.
including REPLACING bitcoin.
l.
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