This 'club' is the oldest scam in the book - Let me explain how it works.

You all give 1 Bitcoin per month to Bob. He then pools all your Bitcoin together and uses half your money to firstly buy a nice stack of coins for himself in an alt market of his choosing. The other half of your money goes towards placing a big Buy wall just above where he purchased his last coins with your money.

At this stage he has very quietly placed all the coins he just bought with your money in little bundles up the sell order book. The last of his bundles is set at price 'Y'.  He then puts the word out to everyone "Guys, pump is on X - Target Y+10% GO!" - All of you will then introduce MORE money and buy up all the coins he has just purchased with your own bitcoin.

You will then be reliant on each other to buy up your coins as Bob has already made his money - All he has to do is remove his buywall and you are all fucked. Not only have you given him 1 Bitcoin but you have now bought a bunch of coins far higher than they would be going for 'but for' Bob's buy wall made up of your own bitcoin.

Now, Bob is smart, he won't just remove his buywall - but roughly a quarter of you will buy too late, you will think "Ah damn, only just got the message - well price is Y-10% and target is Y so I guess I can still make 5-10%!"

Problem! Everyone has already started selling you their coins as when the target is Y the majority of people will always start selling somewhere between Y-20% and Y-10% - depending on their 'greed levels'. Either way you just got burned.

Now he has conveniently placed the disclaimer 'If you follow my guidelines' in his post - It enables him to say "Oh gee man I'm sorry to hear that! But I did do what I said I would didn't I? You were just a bit slow! Better luck next month!" - Those who have fallen for this scam will probably just say "Meh you're right, thanks so much Bob!" and get back to thinking they are part of a special club.


If you cannot see this scam for what it is then I feel sorry for you, because even if you make a bit of money from this, Bob is risking your funds - not his - to both buy and pump up a coin. He doesn't have to risk a single Satoshi of his own stash for this scam to work - but you give him not just 1 Bitcoin as a 'joining fee' but MORE bitcoin in the form of buying his coins above the buy wall he puts up with the rest of your money. He get's ya twice.


Bob I respected you and your substantial portfolio - but this is pretty damn disappointing.