FutureNet announces Ponzi reboot through FuturoCoin fork
FuturoCoin markets itself as “the most innovative cryptocurrency”.
In reality FuturoCoin was nothing more than a Ponzi exit-scam for FutureNet’s owners and top investors.
Having milked their current crop of gullible investors dry, FutureNet are now hoping to reboot their failed cryptocurrency.
FutureNet got FuturoCoin publicly listed in June 2017. Upon being publicly tradeable, FuturoCoin followed the typical MLM altcoin pump and dump trajectory.
FuturoCoin’s initial pump value was $18.86. During this time FutureNet’s owners and top affiliates cashed out what they could.
Within a month FuturoCoin had dumped to $11 and continued to slide.
In September 2018 FutureAdPro collapsed, prompting FutureNet to announce returns would be paid in FuturoCoin.
FutureNet could generate FuturoCoin on demand at little to no cost.
Following another brief pump to $13 after the FutureAdPro exit-scam announcement, FuturoCoin went back to dumping.
FutureAdPro collapsed again earlier this year. Today FuturoCoin is worth $1.08.
Amid widespread recent reports of non-payment, on June 24th FutureNet announced plans to hard fork FuturoCoin.
The usual reason – we want more money.
For those unfamiliar with the term, a cryptocurrency hard fork is basically copy and paste of an existing cryptocurrency to create a new one.
Think of it like burning an music album onto a blank CD back in the day, and then giving the newly burnt disc a new name.
Typically a hard fork is initiated by breakaway developers, who feel they can improve the coin being forked.
In the case of FutureNet, it’s just FutureNet hard forking their failed Ponzi exit-scam altcoin.
When you use cryptocurrency in any transaction, the transaction should be confirmed by nodes called masternodes.
They take part in coin mixing and have the right to confirm transactions.
Of course, masternodes don’t do it for free. They perform an important function and work without any break which cost money, so – it’s obvious – they have to earn.
How? When a cryptocurrency is mined, blocks are mined too.
There is a prize for every block – half of a prize goes to a miner, another half to masternodes.
Yep, here we go… invest in our new masternodes!
The second stage of hard fork is restraining of FTO supply.
The sooner you become a masternode, the bigger demand for being masternode starts to appear.
FTO’s prize will grow naturally and the cryptocurrency will be worth more.
To be clear, FuturoCoin isn’t worthless because of scarcity. It’s worthless because it was created to as a Ponzi exit-scam.
No doubt there are enough gullible FutureNet investors that will buy into masternodes to keep the scheme afloat for a while longer.
What FuturoCoin’s fork fails to address though is that there’s no new investment to pay existing FutureNet investors with.
No amount of “are you serious?” updates to FutureNet’s smoke and mirrors ruses can fix that.
Following the announcement of a criminal investigation in Poland, FutureNet are currently gearing up to hold an event this weekend in Austria.
A FutureNet consumer protection warning was issued in Austria a week ago. Austrian authorities however have yet to take any further action.