What is the so-called Ff Coin Club, where did it come from, what are its origins? There have been many stories about it on the internet, so I’ll give you my special investigation. I had a friend who used to be in this ff coin club but suddenly quit. He gave me some information about why he left.
The Following Is Some Of The Things He Told
He said, “this ff coin club was founded by some billionaires and tycoons.”
According to him, about 5 or 6 guys got together and formed a group called the ff coin club based on their hobbies and interests in collecting coins. They also created a webpage on the internet to recruit more members.
When this group was first established, they recruited new members from all over the world by paying money for each successful enrollment. They had some fat agreements with those newbies, asking them to buy a certain amount of bitcoins every month as part of their “membership fee.” Those new members would receive one free coin every time they paid their membership fee.
He said, “most of them were recruited in China.”
We can easily spot the mentioned recruitment activities when we look at the Chinese bitcoin trading markets.
My friend who used to be in this club told me that he learned about it on an internet web page called XBTF, a site everyone knows in the Chinese bitcoin community. For some reason, he decided to become a member of this club.
He told me about 50000 members registered on their website until they stopped recruiting more new members.
There was no physical interaction needed for him to be part of it since all members only communicated through the internet.
My friend said, “They were all from many different backgrounds and occupations.”
Of course, those who were always online 24/7 had a better chance to get elected as an official member of this club.
This ff coin club invented an “ff” monetary policy for its members. It was based on the idea of “individuals taking charge and realizing their efforts.”
So they designed a monetary system that would allow each member to earn more Bitcoins through the following steps:
1) When an individual buys bitcoins, he gets one free coin as part of his membership. One person only earns this free coin if he purchases .5 coins. If the same person buys one currency, he will also get one extra cash as a bonus. The limit was five coins per purchase, and it can be done unlimited times within a month.
2) Those who were able to invite new members would gain free ff coins from those new members under their referral link.
3) They also rewarded the top 3 members every month with bitcoins. The rules were simple. If you are one of the three winners, you will get one free coin if you won in a single category or five coins if you were ranked at the top in multiple categories.
4) Some members were able to make money by investing in bitcoin mining pools. All of the ff coin club members would be paid dividends from these mining pools.
5) They also held some online contests from time to time, rewarding their top members with free Bitcoins. These activities were all advertised on their webpage so newbies could easily find them and join in.
They designed this monetary system to promote bitcoins among the general public and encourage more people to buy bitcoins.
Since my friend was a newbie, he had to buy .5 bitcoins to get one free coin as part of his “membership fee.” He told me the price of this club back then ranged from USD 2k – 3k per Bitcoin. So for him, it cost around USD 1.5k to become a member of the club.
He said it was relatively easy for him to repurchase bitcoins then, considering he had some savings he could invest in bitcoins.
However, the membership fee went up over time as they tried to attract more new members and keep those already part of this club as members, so they didn’t run away, taking their coins with them. The price of this club went up to USD 5k per Bitcoin in the third year of its establishment.
My friend told me it was not worth paying USD 5k for one bitcoin because he didn’t see any tangible value back then, even though he knew bitcoin had great potential.
I didn’t know about this club until one day, my friend who was already a member told me it was too late for him to get out of the club even though he felt it wasn’t reasonable for him to pay so much money to buy bitcoins. He said, “the only way to get out is if you are kicked out from the club because you stopped buying bitcoins for a certain period or if you are at least 2000th in ranking.”
That should mean he had to buy a minimum of USD 10k worth of bitcoins per year. Even though this wasn’t too much compared with other members, it was still a lot for him, considering the amount of money.
It was an excellent decision to kick out those members who didn’t buy bitcoins for a certain period.
However, I don’t understand why they had to rank their members and let the top-ranking members earn more bitcoins than those at the bottom. That would encourage people to invest as much as possible even though they didn’t have enough money to make it worthwhile.
I asked him if some people ran away with their coins because they stopped buying bitcoins, and he said he wasn’t sure, but he thought no one would do that. He said even though the club rules stated that if you don’t buy bitcoins for over three months, you will be kicked out of the club, he still believed people would not do that because they paid a lot of money to enter this club in the first place.
I wanted to ask him more questions about this topic, but I didn’t have time, so I ended the conversation there.
However, later on, I realized what was wrong with this whole system.
First, I didn’t understand why they had to design a system that allowed members to earn more bitcoins just because they were ranked high. It seemed like its purpose was intended for this club to grow bigger and bring in more money.
I also had questions about some other issues. For example, what would happen to their coins if some members got kicked out because they didn’t buy bitcoins for over three months? Would the club take them as payment since they were no longer members? If some of those who ran away with their coins got kicked out later because they didn’t buy any more bitcoins, would they bring back all those coins they took with them when they left?
It didn’t seem like a sustainable system to me.
I know the club is now closed, and it no longer exists, but I am pretty sure some people out there still think this club was a good idea, and they would probably find ways to bring the concept back to life.
There are many other problems with this whole Bitcoin faucet club concept. For example, the rules stated that you had to buy at least USD 10 worth of bitcoins each month, or you would not get any coins. That seemed like an excellent way to promote people buying bitcoins, but it put some people off because they could forget about earning money from using Bitcoin faucets.
I gave it a shot but quickly got tired of using this club because there wasn’t much to gain.
I also didn’t like that you would get more coins if you used your referral link than those who didn’t use any referrals. That was unfair, and the people who used their referral link weren’t doing anything wrong.
However, if I had to choose between this faucet club and the Bitcoiner Club, I would go for the latter. Here is why.
To get bitcoins from using Bitcoin faucets, you need a certain amount of traffic to your website/blog to use up all those small amounts of money given by faucets. Some people promote their websites through other websites and social media, but that takes a lot of effort and time.
On The Other Hand.
The Bitcoin Club provides you with a way to earn bitcoins without having to wait for traffic or spend hours trying to promote your blog.
As I mentioned before, all you need is one referral, which is yourself, to get paid bitcoins. If you refer someone else, that person becomes your referral, and then anyone they refer becomes your referral too. That way, you get paid for three generations!
I posted that perfect example of how I got paid in this post, so please check that out, as it explains the whole system very well.
There is one thing people usually forget to mention when they talk about Bitcoiner Club, and that is spamming. Whenever I talk about this club or tell people that I earn a lot of money from using it, they ask me how I manage to get so many referrals.
Some people think that the way you get referrals is by spamming, but the truth is that you don’t have to do anything weird or crazy to get referrals. I’ve been earning from this club since August and only bought the Business Pro package in October to give it a try, so that is the reason why I have many referrals now.
That subscription allows you to buy ten referrals per month, but even though I can’t buy any more referrals until November, my account keeps generating referral commission payments! Besides, the referral commission is only USD 0.001, making it very easy to refer people and get more referrals. My monthly earnings from this club are between USD 10-15 per month, so I am happy with those numbers.