Bitcoin Forum

I just found this circulating on social media lately, and it seems to me that their scheme is just the same as Forsage and OpenAlexa. As of this posting, they will be launching today (6 hours from now).

Official website: https://voomo.io/
Telegram group: https://t.me/voomo_group
Explanatory video: https://www.facebook.com/watch/?ref=search&v=281151179916989

Definition of Voomo per their Telegram group:

"VOOMO NETWORK is the ultimate decentralized P2P global powerline networking system, built on a “SMART CONTRACT” based on Ethereum Blockchain."

As of now, I don't see any publicity of the team behind Voomo. No product and use case as well. As what I have assessed, their concept is like Forsage and OpenAlexa where you have guaranteed earnings in Ethereum for recruiting people. Their defense would be that they are running on the Ethereum blockchain and smart contract and cannot be shut down by the government due to being decentralized. Speaking of Forsage, the Securities and Exchange Commission have published their official advisory (http://www.sec.gov.ph/forsageforsage-is-not-registered-with-the-commission-and-operates-without-the-necessary-license-and-or-authority-to-solicit-accept-or-take-investments-placements-from-the-public-nor-to-issue-investme/) against them.

I'm afraid that these new "scampanies" keep emerging, but this time by using Ethereum and smart contracts, and a lot of people are still fed up with these scams without even taking time to consult to experts.

I just hate the fact that they are destroying the image of Ethereum, smart contracts, cryptocurrency and blockchain technology with this ponzi scheme. It's hard to stop these filthy scammers like this!