Bitcoin. A Fad Or The Future?

Posted on 18th November 201618th November 2016 by Gerard

Suddenly, people are starting to talk about bitcoin. It’s all over the internet – with articles that are ebullient and some, that for whetever reason, are less so.

You’re either a believer or you’re not. Is it a fad? Or is it the real deal?

I’m just an advertising guy (and a biased one at that, in that I’m an ardent proponent of the currency) so what do I know?

Only the following, after spending some time this past week with a person who has a deep understanding of crypto-currencies, and who was in South Africa to meet with interested local parties – the American co-founder of BitClub Network, of which I’m an active member:

Bitcoin is currently used by a minute percentage of the global population, but is already priced at around US$740 per bitcoin (BTC).

The price of bitcoin is projected to go a LOT higher over the next few years. (With a fair bit of volatility on the way)

Bitcoin is being kept an eye on by Governments and banks around the world, who are trying to understand the implications of a quick and easy means of payment between individuals that can’t be controlled.

Bitcoin provides an incredibly inexpensive means of paying another person.

It is already accepted by more than 200 000 establishments in the US.

It can be used to purchase anything – from a coffee at Starbucks to airplane tickets on Emirates to a castle in Scotland.

Transactions are all recorded on the Blockchain, which is a public ledger open to all.

Bitcoin wallets can be opened by anyone at any time and cost nothing to open. In South Africa, a wallet can be opened on www.localbitcoins.com, www.altcointrader.co.za and www.bitx.co.za

One can easily buy or sell the crypto-currency on any of these platforms.

Some people who DO know about bitcoin include:

Virgin’s Sir Richard Branson.

Founder of Microsoft, Bill Gates.

Ex US vice-president, Al Gore.

CEO of Google, Eric Schmidt

Venture Capitalist and founder of Netscap, Marc Andreessen.

Founder of McAfee, John McAfee.

Former CEO of Paypal, David Marcus.

Co-creator of Facebook, Tyler Winklevoss.

Well-known entrepreneur, Eric Voorhees.

Former Chairman of the US Federal reserve, Ben Bernanke.

Here’s what they have to say about bitcoin.

Sir Richard Branson “Virgin Atlantic is a bold entrepreneurial technology. It’s driving a revolution and bitcoin is doing the same when it comes to inventing a new currency” “

Bill Gates “Bitcoin is a technological tour de force” “

Al Gore “I think the fact that within the bitcoin universe, an algorithm replaces the functions of Government, is actually pretty cool” “

Eric Schmidt “Bitcoin is a remarkable cryptographic achievement and the ability to create something that is not duplicable in the digital world has enormous value” “

Marc Andreessen “At our venture firm, we continue to see an escalating stream of fascinating new bitcoin uses, cases and applications from entrepreneurs”

John McAfee “ You can’t stop things like bitcoin. It will be everywhere and the world will have to readjust. World governments will have to readjust“

David Marcus “I really like bitcoin. It’s a store of value, a distributed ledger. It’s a great place to put assets” “

Tyler Winklevoss ‘We have elected to put our money and faith in a mathematical framework that is free of politics and human error“

Eric Voorhees “Economists and journalists often get caught up in this question: why does bitcoin have value? And the answer is very easy. It’s useful and scarce”.

Ben Bernanke “Bitcoin may hold long-term promise, particularly if the innovations promote a faster, more secure and more efficient payment system” “

I don’t know about you, but I’d rather take a cue from people of this calibre than a broke next door neighbour who tells me that bitcoin is a fad and that I should stay clear of it.

Another clincher for me is something the co-founder of Bitclub Network pointed my attention to on the site blockchain.info – the number of reputable global firms and institutions that are actively – and currently – funding blockchain and bitcoin start-ups. One of which is The New York Stock Exchange, which for the first time in its 200 year history, is putting money behind an entity that is NOT listed.

Now THAT is interesting….

Naspers too.

Interesting again…

Gerard Kavonic is an experienced copywriter, conceptualiser of advertising ideas and co-ordinator of marketing projects, running a small – tiny – advertising agency in Johannesburg. He is also an ardent proponent of bitcoin and is an active member of BitClub Network. He can be contacted on 083 444 9888 and emailed on [email protected]

First Bitcoin Office Opens In Africa

Posted on 7th October 20167th October 2016 by Gerard

BitClub’s new offices in Johannesburg

Last Saturday saw Bitclub Network’s bitcoin office open on Malibongwe Drive in Randburg, Johannesburg.

While Bitclub has been in South Africa for a little more than eight months, the opening of its offices in Johannesburg heralds a milestone in that it turns any perception that it’s some kind of elusive or dubious network marketing opportunity on its head. By investing in a smart new two story building, credence is given to concrete ie that BitClub Network is a real business that’s invested in Africa and is here to stay.

By all accounts, the launch was well received with more than 450 people attending. (Only 250 people were expected). Many people attending were either members of BitClub Network eager to see the new offices, people who had heard about BitClub or people wanting to know more about bitcoin, and how to profit from it.

So, what is bitcoin?

Often referred to as BTC, bitcoin is probably the best-known and most widely-used crypto-currency. It works a lot like cash in that you receive it instantly when it’s sent. So if you have a bitcoin wallet and I have a bitcoin wallet (opening a wallet is simple and quickly done), I can in seconds pay you in BTC instead of, say, via an EFT. It’s cheap, quick and is already used by many people around the world. Every transaction is recorded on a public ledger called the Blockchain, and if you want to see how many people are transacting using bitcoin as you read this, go to www.blockchain.info and take a look at the bottom left corner of your screen…

But this is just the start. As more and more people around the world become aware of blockchain technology, and bitcoin in particular, usage will increase. It’s just a matter of time, in my opinion.

Already banks and other financial institutions are eyeing blockchain technology to see how and where they can make use of it, and IBM has predicted that by the second half of next year, a good 15% of the major banks around the world will have incorporated blockchain technology into their businesses. Whilst not to say that banks will necessarily use (or promote) bitcoin, it’s likely that the growing use of the technology will have a positive spin-off for BTC, which will result in more acceptance of the crypto-currency, wider usage of the crypto-currency – and a higher bitcoin price.

As things stand, the price of one BTC is around the US$610 mark.

See http://www.coindesk.com/price/ for the current price.

Predictions vary as to the price of bitcoin in the future, but most analysts feel that prices will go up – and that in a few years, could be as high as US$2000 or US$3000. (A few predict a price of US$10 000 per BTC, in which case, a lot of people will make a LOT of money!!).

That said, no-one knows for sure and it’s really a question of supply and demand. The fact that there can only ever be 21 million BTC in circulation is the catalyst behind the prediction of these extraordinary forecasts. That said, people are excited by the possibilities, and hence, the growing interest.

And when people like Richard Branson, Bill Gates and former US vice-president Al Gore make comments like:

“I’ve invested in bitcoin because I believe in its potential and the capacity it has to transform global payments is very exciting”

“Bitcoin is better than currency in that you don’t have to be physically in the same place and of course for large transactions, currency can get pretty inconvenient”

“I think the fact that within the bitcoin universe an algorithm replaces the function of Government is actually pretty cool. I am a big fan of bitcoin”

people sit up and take notice.

Hence, no surprise at the number of people who turned up for the opening launch on Saturday.

BitClub Network is essentially a network marketing opportunity, in which people pay and earn in bitcoin. (If you don’t have bitcoin, you can buy the currency on platforms like www.localbitcoins.com or www.altcointrader.co.za). But it’s not just for networkers. Many people have joined as investors, in which they pay a once-off membership fee, buy into a bitcoin mining pool and do nothing further than watch their BTC increase over time.

It’s far better than just buying bitcoin and leaving them in a bitcoin wallet…

By all accounts, people are joining BitClub in increasing numbers – and not just in South Africa, but in neighbouring SADC countries and further afield too ie Kenya, Uganda, Nigeria and even Dubai.

The South African office will be the launching pad into Africa, and knowing the person behind the entry of BitClub into South Africa as I do, I wouldn’t be surprised if other BitClub Network offices are opened in the years ahead…

Gerard Kavonic is an experienced copywriter, conceptualiser of advertising ideas and co-ordinator of marketing of projects. Based in Johannesburg, he runs This country’s smallest ad agency, Kavonic Hone. See www.kavonichone.co.za He is also involved in the launch of Bitclub Network in South Africa. See www.bitclubnetwork.co.za He can be reached on 083 444 9888 and on the following email addresses: [email protected] and [email protected]

Is Bitclub Network Only For Network Marketers?

Posted on 6th September 20166th September 2016 by Gerard

As one of the people behind the launch of BitClub Network into South Arica and Africa, I’m often asked whether we cater for network marketers only – and the answer I give is: no, not at all. BitClub Network is for anyone who has an interest in, or believes in, bitcoin as a vehicle for wealth creation.

Whist BitClub Network has a network marketing component built-in (which appeals to the network marketers out there), one can quite easily join purely as an investor. Fact is, there are many South Africans who have joined as investors with no intention of “recruiting” others. And there is nothing wrong with this.

What they do is pay their once-off membership fee (US$99) and then buy into one of the mining pools – of which there are three (Pool 1, costing US$500), Pool 2 (costing US$1 000). Pool 3 (costing US$2 000) or the Founder’s Pool (costing US$3 500). The Founder’s Pool equates to buying a share in all three pools and many investors prefer buying straight into the Founder’s Pool, without first buying into the lesser pools.

When an investor buys into a mining pool, what they are doing is buying mining equipment to “mine” bitcoin. This said, it’s really not important for you to know the technicalities or to understand bitcoin “mining” (although you’ll find a number of videos on the website www.bitclubnetwork.com and You Tube explaining the process if you’re interested).

Bitcoin mining is done on the investor’s behalf and profits from this mining activity are shared amongst the investors in that particular pool. Investors can choose to be paid daily or can select to “store” their bitcoin for the period of their choice. The latter option is generally preferred as it compounds one’s earnings over time.

The difference between the mining pools (besides from the cost) is the percentage paid out and the percentage re-invested to purchase newer mining equipment.

(Another difference is the number of “club coin” given to you – but more about this in a bit).

Investors pay in bitcoin – and get paid in bitcoin (BTC).

With the price of bitcoin currently at around US$600 per bitcoin (BTC) – . go to http://www.coindesk.com/price/ for the latest price – we advise that you purchase as many bitcoin as you can and hold on to them. For the simple reason that there can ever be only 21 million BTC in circulation. So it’s a question of supply and demand.

There are many analysts and crypto-currency “experts” who predict that the price of bitcoin could get as high as US$10 000 in 3 years – whilst there are others who believe it could be even higher. The fact is, no-one quite knows.

My take on things is that even if BTC reaches a – relatively conservative – US$1 500 in 3 years, this is not a bad return. In which case, the advice is the same: BUY BITCOIN.

There are a number of platforms in South Africa from which you can buy the crypto-currency: www.altcointrader.co.za www.bitx.co.za and www.localbitcoins.com

My preference is for the latter, but only for the reason that this is the platform I’m familiar with.

Once you’ve opened an account and created a bitcoin wallet, you can either:

Leave your BTC in your bitcoin wallet and forget about them

Use them to buy into a mining pool, so they can work for you.

By buying into a mining pool, your bitcoin will grow over time.

You’ll also be given BitClub’s own “in-house” crypto-currency (ClubCoin) – free and gratis – as a thank you (so long as you buy in before the end of December 2016).

(Note that whilst ClubCoin can be traded on the open market as we speak, it’s best to hold on to them as they WILL increase in value).

Whilst bitcoin is a relatively new concept in South Africa, and not widely understood, we’re happy to meet with anyone interested so as to expand on the opportunity.

The minimum investment would be US$599 – US$99 to join Bitclub Network and US$500 to buy into Pool 1.

If you’re interested, I’ve just put up a local site www.bitclubnetwork.co.za

Alternatively, you could mail me on [email protected]

How Is Bitclub Network Going In South Africa?

Posted on 24th August 201624th August 2016 by Gerard

Started eight months ago by a lady in Johannesburg who had heard of bitcoin (BTC) and was intrigued by it, BitClub Network South Africa is growing in leaps and bounds.

Whereas the first few meetings were (predictably) not that well-attended, these days there’s scarcely a seat to be had in the weekly BitClub Network presentations. This is partly due to the magnetism of the lady in question (the hardest worker I have EVER encountered) and partly due to the interest in bitcoin. Not that people understand it, of course….

Bitcoin is an interesting concept, and it’s one that people either choose to embrace or stay away from entirely. (Those that do the latter in all likelihood feel that it’s not something that they will ever quite understand, and if they can’t understand it, they’ll stay away from it. Which is all well and good. Some people are more open-minded than others and this will always be the case).

So what is bitcoin (BTC)?

Bitcoin is the first decentralised digital currency that works peer-to-peer without needing a bank or central repository. It’s a global currency that uses a public ledger to record transactions being sent from one person to another. This all happens without the involvement of a bank and it’s not controlled by any government, regulating body or person. All transactions are completely transparent and thousands of copies of the ledger are kept across a distributed network of computers.

It’s a currency that nobody can control and it’s for this reason that it is generating the kind of interest that it is. Bitcoin works a lot like cash in that you receive it instantly when it’s sent and once you have it, you have it. This makes bitcoin a truly revolutionary peer-to-peer system that is designed to get even better as more and more people start using it.

Still confused? That’s fine. All you need to know is that it works, it’s legal and it’s the way of the future!

In the meantime, here are some of the questions most often asked:

Is BTC not used for illicit activity?

The answer is that whilst it has been used for sporadic illicit activity in the past (for purchases of drugs in the US, for instance), so too has the US dollar and other fiat currencies. The sad reality is that we live in a world of dishonesty, criminality and corruption and bitcoin’s ease of use is sometimes taken advantage of. On the positive side, a good 98% of bitcoin usage is ethical and honest.

Is BTC not MMM?

ABSOLUTELY NOT. (I put this in capital letters to knock this misconception on the head!!). Whilst MMM made the headlines for all the wrong reasons, the only reason why bitcoin is sometimes associated with MMM is because MMM allowed payments in bitcoin. Bitcoin is a currency. It has nothing to do with MMM.

Where could one spend bitcoin?

If you were in the US, for instance, you’d be able to spend BTC in thousands of places, and for a multitude of things – from a coffee at Starbucks to an airline ticket to London. In South Africa, we’re at the very early stages. As things stand, you could make purchases on, for example, BidorBuy using bitcoin. And you could pay people, using BTC. In time, you’ll be able to buy pretty much anything. In fact, if you apply for a Visa Xapo card from http://www.xapo.com/ you could load your bitcoin onto the card and use the card for purchases from Woolworths, Pick n Pay, Edgars or wherever you want, right now.

There’s tons of information on bitcoin on the internet, so if it’s of interest to you, check it out.

But back to BitClub Network.

A global wealth-building platform for the digital currency market, BitClub Network allows people to earn profits from its shared mining pools. There’s also a referral program through which members earn by introducing other people and building their teams– network marketing, in other words (but NOT a pyramid scheme!!!).

It started about two years in the US and was then taken to Malaysia, where it just exploded. (In terms of people joining). From a post I saw yesterday, I see that it’s now taken hold in South Korea, and other countries in SE Asia.

Having met with the co-founder when he was in South Africa two months back, and due to my working closely with the person who brought it to South Africa, I know that the plan is to grow BitClub Network across South Africa, and then, to launch it into Africa.

Things will go (grow) quickly, and already, people are joining in Kenya, Zimbabwe, Zambia, Uganda, Nigeria and even Dubai.

BitClub Network South Africa’s offices open in Johannesburg next month. So, things are happening at pace, and people who can afford to, are joining in numbers.

The cost to join is US$99 and to buy a share in the cheapest mining pool is US$500. So if you’re interested, you’d need a minimum of US$599. A good investment, in my opinion. There’s more info on http://www.bitclubnetwork.co.za if you’d like to visit.

On my side, I’d be happy to meet with anyone interested – assuming they’re in Johannesburg, of course!