FuturoCoin markets itself as “probably the most modern cryptocurrency”.
In actuality FuturoCoin was nothing greater than a Ponzi exit-scam for FutureNet’s homeowners and prime buyers.
Having milked their present crop of gullible buyers dry, FutureNet are actually hoping to reboot their failed cryptocurrency.
FuturoCoin was introduced in early 2017 and tied to FutureNet’s FutureAdPro Ponzi scheme.
FutureNet obtained FuturoCoin publicly listed in June 2017. Upon being publicly tradeable, FuturoCoin adopted the everyday MLM altcoin pump and dump trajectory.
FuturoCoin’s preliminary pump worth was $18.86. Throughout this time FutureNet’s homeowners and prime associates cashed out what they might.
Inside a month FuturoCoin had dumped to $11 and continued to slip.
In September 2018 FutureAdPro collapsed, prompting FutureNet to announce returns can be paid in FuturoCoin.
FutureNet might generate FuturoCoin on demand at little to no price.
Following one other temporary pump to $13 after the FutureAdPro exit-scam announcement, FuturoCoin went again to dumping.
FutureAdPro collapsed once more earlier this yr. Right this moment FuturoCoin is value $1.08.
Amid widespread current stories of non-payment, on June twenty fourth FutureNet introduced plans to arduous fork FuturoCoin.
Why?
The standard motive – we would like extra money.
For these unfamiliar with the time period, a cryptocurrency arduous fork is mainly copy and paste of an present cryptocurrency to create a brand new one.
Consider it like burning an music album onto a clean CD again within the day, after which giving the newly burnt disc a brand new title.
Usually a tough fork is initiated by breakaway builders, who really feel they’ll enhance the coin being forked.
Within the case of FutureNet, it’s simply FutureNet arduous forking their failed Ponzi exit-scam altcoin.
If you use cryptocurrency in any transaction, the transaction ought to be confirmed by nodes known as masternodes.
They participate in coin mixing and have the appropriate to substantiate transactions.
In fact, masternodes don’t do it at no cost. They carry out an vital operate and work with none break which price cash, so – it’s apparent – they must earn.
How? When a cryptocurrency is mined, blocks are mined too.
There’s a prize for each block – half of a prize goes to a miner, one other half to masternodes.
Yep, right here we go… put money into our new masternodes!
The second stage of arduous fork is restraining of FTO provide.
The earlier you turn into a masternode, the larger demand for being masternode begins to seem.
FTO’s prize will develop naturally and the cryptocurrency will likely be value extra.
To be clear, FuturoCoin isn’t nugatory due to shortage. It’s nugatory as a result of it was created to as a Ponzi exit-scam.
Little question there are sufficient gullible FutureNet buyers that may purchase into masternodes to maintain the scheme afloat for some time longer.
What FuturoCoin’s fork fails to deal with although is that there’s no new funding to pay present FutureNet buyers with.
No quantity of “are you critical?” updates to FutureNet’s smoke and mirrors ruses can repair that.
Following the announcement of a prison investigation in Poland, FutureNet are at present gearing as much as maintain an occasion this weekend in Austria.
A FutureNet client safety warning was issued in Austria per week in the past. Austrian authorities nonetheless have but to take any additional motion.