FutureNet announce plans for altcoin pump & dump scheme
FutureNet launched with a cycler Ponzi back in 2014. New investment began to dwindle in early 2016, prompting the launch of FutureAdPro.
Having built up Ponzi ROI liabilities for a year, FutureNet’s latest revenue ploy is the launch of its own cryptocurrency.
Dubbed “FutureNet Coin”, information from the latest FutureNet affiliate webinar reveals the altcoin is still in development.
When it goes live, purportedly FutureNet Coin will be publicly tradeable and accepted by third-party merchants.
This coin is not like some other coins on the market.
From companies that promise you “maybe someday you can handle this coin” or whatever, this coin will be handled from the first day.
That means on BitRex or on other platforms where you can handle coins. You can but (FutureNet Coin) today and if you want you can sell them tomorrow.
You can pay on the first day with different shops and maybe MLM companies.
How FutureNet is going to convince legitimate third-party merchants to accept their Ponzi-backed altcoin is unclear.
The only specifics revealed was a “special rewarding program” for FutureNet Royal members.
FutureNet Royal positions cost about $1851 and come with six cycler Ponzi positions.
Affiliates are unable to receive a refund once they have deposited money with the company.
FutureNet Royal affiliates have been promised “extra coins”, based on their own investment and recruitment of other FutureNet Royal affiliates.
The cryptocurrency altcoin scam is currently the darling of the MLM underbelly. It seems there’s no end to scammers keen to launch their own cryptocurrency.
The scam model sees a company announce an altcoin with all sorts of lofty promises. Typically these involve fear of loss marketing and comparisons to bitcoin.
On the money side of things the admins of the company solicit real money from affiliates in exchange for points.
These points are later converted into the altcoin itself, which are pre-mined by the company admins.
What inevitable happens is affiliates are left with a worthless altcoin, the value of which crashes when the coin goes public.
A new MLM altcoin might see some rise in value initially, as hyped to the eyeballs affiliates who’ve bought in invest and encourage others to invest.
Once people realize they can’t actually do anything with the coin, that doesn’t last long.
Having adopted the same model, FutureNet Coin isn’t going to be any different.
What the launch of FutureNet Coin will do however is provide FutureNet a bit of extra revenue to keep FutureAdPro going for that much longer.
The use of Royal positions as marketing tool will also generate cycler activity.
Ultimately however FutureNet Coin is a band-aid solution. Both the FutureNet cycler and FutureAdPro revshare will continue to generate Ponzi liabilities that cannot be met.
Once whatever revenue is raised via FutureNet Coin is exhausted (which will happen quicker over time), that’ll be the end of it.