Bitcoin Forum

THE FUTR OF CRYPTO

How FUTR Harnesses Three Types of Blockchain Payment Utility
FUTR employs a Fibonacci algorithm in the Ether-based mining of its smart contract, and then after a fixed period it applies an alternate linear algorithm in undertaking the exchange of FUTR tokens back for the Ether that was used to mine  the contract:

CORE UTILITY: Utility that pertains to the token’s core functionality. FUTR core functionality is as a proof-of-membership stake in The Futureum Foundation project which enables white-listing for priority payment utility to future projects.

EXCHANGE UTILITY: The exchange of Crypto with other Crypto in the form of trading is the first form of utility to blurs the line between payment mechanism and payment receipt. FUTR harnesses this utility to execute two exchanges on alternate algorithms.

DERIVATIVE UTILITY – After ETH mines FUTR, a smart contract holds the ETH safely for a fixed period and then switches it back for FUTR on a different algorithm to the one that mined it, creating leveraged-simulated returns.



FAQ


What is a Futereum Utility Token (FUTR)?
Futereum (FUTR) is a revolution in payment utility economics. It is a smart contract on the Ethereuem network which allows anyone to harness returns for ETH similar to those created via a financial futures contract on any global financial market (25,000%+). At the same time, FUTR is a unique payment utility that works like a call option on the payment currency itself. In this way, merchants are able to charge their customers progressively less over time while making much more in treturn for the same goods and services.

How does FUTR achieve these things?
Primarily by employing a Fibonacci algorithm in combination with the Ethereum Blockchain’s smart contract functionality, when combined with price fluctuations in the underlying mining currency Ether, FUTR harnesses net present value at all times better than any other currency on the Blockchain.

How does FUTR achieve these things?
Primarily by employing a Fibonacci algorithm in combination with the Ethereum Blockchain’s smart contract functionality, when combined with price fluctuations in the underlying mining currency Ether, FUTR harnesses net present value at all times better than any other currency on the Blockchain.

Who can mine FUTR?
Anyone can use ETH to mine increasing difficulty levels of FUTRs over a 12-36 month time frame, in much the same way as original Proof-of-work miners use electricity costs to mine POW Crypto. After the predetermined period, FUTR holders are eligible to swap FUTR for a commensurate amount of ETH that is held by the smart contract.

How Does FUTR payment utility work?
By harnessing derivative utility, whereby mining becomes more or less expensive to do partly as a result of the ETH price and partly as a result of the mining level, FUTR offers merchants and service providers a way to charge less to their customers even as they potentially receive more in return. We expect that the merchant accepting FUTR should record a sharp rise in revenue at the start of every mining level as customers seek to take advantage of paying in less FUTR for the product(s) or service(s) concerned even as those same customers are getting a relative discount on the pricing.

During the period it is stored how safe is my ETH?
The ETH is held in a secure smart contract and is not accessible by any one other than the FUTR token holder on the date of the swap as advertised on our website. No one can access, handle, move or otherwise interfere with your ETH at any time - not even the project founders and core developers. The ether is held by the smart contract itself. The contract allows the fees to disbursed and there is absolutely no access to the ether otherwise. There is no self destruct capability, either. The ether can only be retrieved at the appointed time by sending in the FUTR tokens to the contract. You receive your FUTR immediately upon mining it with ether. We are not doing anything with these funds because we cannot access them.  We also don't have any FUTR unless we mine it because there is no premine, so no dumping.


MINING FUTR

FUTR undertakes Proof of Ether (PoE) mining. To mine FUTR, copy and paste the following address into your wallet and hit send:


Do not use an exchange wallet!  

Make sure your gas limit is at least 60,000.  The transaction requires more gas as it sends the tokens will be sent immediately to you in the same transaction.
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If all levels are completed by GMT: Saturday, January 5, 2019 9:12:07 PM then all FUTR will be eligible to swap back with the ETH held in the smart contract on GMT: Saturday, February 9, 2019 9:12:07 PM. If any levels remain unmined after the completion date then the swap date will be moved back by 24 months.





EXCHANGES
FUTR will be trading on 1 exchange from 2/2/18 and on an additional 2 exchanges by no later than 31/12/18


OFFICIAL LINKS
Official Website: http://futereum.org
Telegram Channel: https://t.me/futereum
Telegram Group: https://t.me/FutereumCommunity
Twitter: https://twitter.com/futereum
Reddit: https://www.reddit.com/user/futereum/
YouTube: https://www.youtube.com/channel/UCEIb2yzvve2nog_3MQhQtag
Press Release: https://www.pr.com/press-release/740650
News: http://thecurrencyjournal.com/ripple-xrp-futereum-futr-demonstrate-how-real-life-financial-markets-will-impact-crypto-in-2018/369/
Founder Interview: http://thecurrencyjournal.com/head-to-head-with-futereum-foundation-founder-james-hurst-on-the-launch-of-futr-ripples-xrp-decentralization-crypto/408/
Whitepaper: https://futrcoin.com/wp-content/uploads/2018/01/FUTR-WP2_0_cp.pdf
Contract Source Code: https://etherscan.io/address/0xc83355ef25a104938275b46cffd94bf9917d0691#code
FUTR Block Explorer: https://etherscan.io/token/0xc83355ef25a104938275b46cffd94bf9917d0691



SMART CONTRACT FEATURES
•   Name: Futereum Utility Token for Ether
•   Symbol: FUTR
•   Fibonacci mining algorithm  
•   Total Supply: 6,730,000 min.
•   ETH exchange: 425,056 min.
•   Mining Period: No min. period - 36 months
•   Deadline for tiers filled: GMT: Saturday, January 5, 2019 9:12:07 PM
•   Swap start: GMT: Monday, February 4, 2019 9:12:07 PM
•   Swap end: GMT: Saturday, February 9, 2019 9:12:07 PM

It's a secure, trustless application and the entire smart contract is online at the BE link. The source code is public and contains extensive annotations. The algorithm and how we devised it and what it does in terms of enhancing returns in ETH is all fully explained right from the concept to the math base in the WP. What other info are you looking for?

NB - BOUNTY hunters please see the following post: https://bitcointalk.org/index.php?topic=2698502.0

Another token, or something useful?

The smart contract:

1. Simulates leveraged trading returns for Ethereum without using debt. If ETH goes up 2000% this year, FUTR will rise approximately 25,000%

2. Allows merchants to progressively charge less for goods and services while earning more via employing a FUTR dollar (F$) concept which extracts the amount of FUTR in the current mining round and benchmarks that amount against the per unit value of ETH (e.g. Level 1 ETH is generating 114 FUTR which is a per FUTR dollar value of $9.14; the FUTR dollar is therefore $9.14 right now. When the next level kicks in ETH mines 89 FUTR and thus with ETH at $1042 the FUTR dollar would increase by 28% automatically to $11.07 - even without the ETH price moving. This enables customers to pay with less FUTR but the merchant to earn more in FIAT terms) as long as the merchant keeps prices stable and charges in FUTR

3. Recycles constantly - unlike securitized derivatives contracts once FUTR gets to the end of the 10-Level mining cycle all the FUTR swaps for all the ETH and the process begins anew. In practice of course not all FUTR miners / holders will swap for ETH at the end of the 13 months so it's likely the smart contract will build up with even more ETH the next year. Because of the Fibonacci algo in the contract the miners least likely to swap are the last ones to mine FUTR (unless ETH suffers a dramatic fall in value); this means that the unswapped FUTR will represent a slight increase in supply which will be reflected positively in the market cap but more so it will be disproportionately represented by a larger and faster growing share of ETH which will make all the FUTR swappers even richer next year than they were in this year.

Imagine if a futures contract - a contract to purchase - was a unit of payment. Imagine what it would do to supply-demand economics. That's the core wow factor on this one. In a very broad sense I guess you could call it a money machine. Whether this qualifies as useful or not is down to personal preference, but it certainly isn't "another token". It is likely in fact that the product has never been thought of let alone attempted. I hope this answers your question sufficiently.

a very promising project for long-term investment, hopefully the development of this project goes well and in accordance with that expected by developers and investors

Security is automatic by virtue of the smart contract that stores the ETH up until the date when FUTR exchanges back for the ETH. In fact, one of the core features of the product is the security of the smart contract. What is different about this project to others that use the smart contract as a method of storing / escrow crypto is that as a result of two different algorithms the escrow feature acts not just to securely store your ETH but to give you a better return on the ETH by the finalization of the 10 levels. This is explained in great detail in our White Paper.

Thank you - we are really excited about it as FUTR is essentially an option to purchase an increasingly large share of ETH as time goes on. So even if you don't take advantage of the first exchange of FUTR-ETH but hold after 13 months, you will simply be entitled to exchange in another 13 months for an even larger share of ETH.

wow 13 month , it was a long time dev, maybe I didnt have such a long time, maybe at least I can hold this for several month up ahead , but 13 month is more then a years dev, I hope you were right

Proof of Ether (PoE)  ??? no, it's not POXXXX, it's ICO = Proof per ETH, or POP = proof per Pay

You can start trading the tokens on an exchange on February 2, don't worry. They will swap at 13 months back for the Ether however. You can find more in an excellent interview with Futereum founder James Hurst today: http://thecurrencyjournal.com/head-to-head-with-futereum-foundation-founder-james-hurst-on-the-launch-of-futr-ripples-xrp-decentralization-crypto/408/

So no need to wait so long to realise the value in FUTR. In fact, it is scheduled to rise by 2x-8x by February 2 if you analyze the algo carefully enough and make some assumptions based on how these things usually pan out.

Nice project... will love to participate in the program. when will the bounty be available?

Thanks! You can contact jameyap32 for bounty proposals as he is handling our bounty pools. 

The ether is held by the smart contract itself. 

The contract allows the fees to disbursed and there is absolutely no access to the ether otherwise. There is no self destruct capability, either.

The ether can only be retrieved at the appointed time by sending in the FUTR tokens to the contract.

You receive your FUTR immediately upon mining it with ether.

We are not doing anything with these funds because we cannot access them.  We also don't have any FUTR unless we mine it because there is no premine, so no dumping.

It is not a 13 month development timeline. The product is finished and you can go to the website to mine it right now. In 13 months it is the first possible date you can switch the FUTR to ETH but you will be able to sell FUTR on an exchange long before then; in less than a month in fact, on Feb 2.

How to mining?

It's in the main post, the website, and the whitepaper, but for those who missed all that:

Copy and paste the following address into your wallet and send ETH to mine FUTR: 0xc83355eF25A104938275B46cffD94bF9917D0691

Do not use an exchange wallet!  Use only a wallet that you control (i.e.: have the private key) and that supports ERC20 tokens.  For example, myetherwallet.

The tokens will be sent immediately to you in the same transaction. Because of this it takes slightly more gas.  Around 60,000 gas.

To add as a custom token use the same address: 0xc83355eF25A104938275B46cffD94bF9917D0691

Decimals is 18.

See the above example and you can see how buying today at $9 yields what will become (if ETH stays the same; if it goes up in price then multipley more, if down, divide) $520 / FUTR this year.

Why can't we chat in the Telegram group? Would be great! Thanks for considering.

If this is what you call mining then i prefer to mine other ethereum token.  ::)
I don't know why you call this mining. this is ICO, you send ether you get token.

If you are a traditional POW miner it's completely understandable that you feel this way about our use of the term mining I guess.

The reason we refer to this as "mining" is because there is not really a better term for it; what is happening here is certainly not an ICO for a few key reasons:

1. The ECONOMIC effect the algo has on the issuance of tokens and the pricing of those tokens etc. over time as they are issued is identical to what POW mining impact is on coins. It has nothing in common with ICOs really at all where the distribution is all done at once and takes place upfront and there is usually some massive premine for the devs (there is no premine here)

2. ICOs collect all your money and use it for some purpose; we do not take your money except for a small mining fee when you send Ether to the contract. We CANNOT touch your Ether - it belongs to the holders of the FUTR.

3. On the issue of Point 2, because this is a secure, trustless application, the tokens can exist forever without our intervention to give them any utility whatsoever. This is not the case with most ICOs where the management team is running about doing things in order to generate utility for their tokens. In this case, the tokens have as much utility as their parent, Ether (ETH). Hence: utility derivative.

We hope that you to give it a try with a small amount - the economic course of what we are doing here is really worthwhile and will lead to beneficial impacts on crypto, such as fee-based issuance (no premine) for devs, and more construction of crypto around coins with real utility (versus just issuing tokens for more projects that have their own aims/goals/agendas). Meanwhile, what you get here in return for FUTR IS Ether (ETH) - in other words it is EXACTLY THE SAME THING you get when you POW mine ETH! Except ultimately, you get ETH at a massive discount to where it is today versus POW mining and/or buying it on an exchange. We find that these peculiarities justify the use of the term "mining" here, for in fact it is quite unlike anything that has been seen yet in crypto. Hence the term "Proof of Ether" (PoE) mining.

In regards to this PR: https://www.pr.com/press-release/740650

I read the following: "The launch of FUTR by the Futereum Foundation pushed the Ethereum price over the $1000-point for the first time in history."

How do you explain that this announcement is what drove ETH price from about 900 USD to 100+ USD?

Looking at the Futereum ERC20 token page, there isn't much there to support such a claim: https://etherscan.io/token/0xc83355ef25a104938275b46cffd94bf9917d0691

Thanks for this. It's a very valid question. We have to ask the PR firm that drew this up to see what their thoughts are on it. We will follow up on it. But not really sure whether a claim like this can ever be substantiated or not really (which is a major problem with PR! But that is a different discussion ... ::)) In their defense, it IS a bit of a coincidence as there was no other news that day to make this critical push in the ETH price.

Well, it is my understanding that those PR are actually published at the request of the company itself, i.e. the Futereum Foundation. I also see James Hurst as the main contact for this PR.

OK. Fair enough, and we will look into it then. Thanks for flagging it up!

Now you can: https://t.me/FutereumCommunity

Thanks for the suggestion! Good to see you want to take part in the project more! Thank you!

Hi there - we looked into this. It appears what the PR meant was that with ETH going up so much and now well in excess of $1,000 that this could not be a better time for the release of an ETH derivative. Sorry for any confusion in this respect.

To give you a better understanding of how ETH affects the FUTR price though, if you look at the WP you will notice that it was written at the time ETH was $750. With the price where it is now, the price of FUTR has doubled by Level 2 compared with the former Level 1 price. So in other words, ETH may have gone up just 30% or so, but the FUTR is already well beyond that increase and in Level 2 all things being equal it is double that.

The $1,000+ ETH price is really a big deal for FUTR either way.

It is worth noting here that this increase in the ETH price gives good example of how FUTR works.

When FUTR was first mining 2 days ago at $1000 it was mining at $8.27/FUTR. So we can say this is the market price of FUTR. Now however, since the increase of $227 in ETH to $1227, the cost of FUTR mining is at $10.76. For Level 2 miners, after the current Level, the cost is again increased at to $13.79 and to $21 for Level 3 (assuming a ETH price of $1227; more if ETH keeps going up). This shows how when ETH rises hard in this way the early FUTR miners are making many times the rise of the ETH price. Just now for example, the FUTR miners who have participated are up 30% vs. 22.7% but will very soon be up 70% and even 155% if we are counting Level 3 mining as well. In this way FUTR functions like POW with the cost setting a minimum sell price on the exchange that is always over the longer term increasing.

So FUTR is like a derivative in this way of the ETH price. If you see ETH price increasing, then simply, you are seeing many times that increase in the FUTR price, since FUTR swaps back for ETH at the end of the 10 mining levels!

Thank you to all the FUTR miners who have so far mined - and we can say, good decision!! ;D ;D ;D :D 8)

Another illustration of how the current $1250 price is working in favor of current-level miners (purchasers) right now: http://thecurrencyjournal.com/how-futereum-futr-buyers-are-getting-the-best-of-ether-eth-price-rise-to-1250/414/

Hey futereum, I think I got how this works, but what will happen if people will stop buying\"mining" let's say at level 8 and will not finish 10 levels in 12\36\whatsoever ??? ? Do you have any math of why it is still profitable to buy on higher levels? Thanks

It is impossible that would ever be the case. If the smart contract has ETH in it then the mining will always make economic sense to someone given the volume of tokens mined and the price at which they were mined. For instance, let's say L6-L10 is fully mined by some parties. Those parties could then mine L1-L10 of the next round and if they did not swap they would own about 90% of supply. Now they wait until Ether moons, and they own 90% of supply just as mining difficulty of FUTR is increasing. This would enable them to sell FUTR at a huge mark-up to the purchase price. The fact that the contract rolls on forever is what gives it a unique permanence as long as ETH is always carrying value. The contract is purely ETH.

One of our writers has now answered the question re: later stage mining levels and why one might mine FUTR in L8-L10 (with math):

http://thecurrencyjournal.com/price-analysis-the-500-million-futereum-futr-trade-with-a-new-1400-ethereum-eth-benchmark/427/

The biggest risk here is bugs to the contract. Do you have an a proof of audit for the code?

Good question. Actually, anyone can audit the code as we have listed the source code address in the main post. This code is pretty straightforward  as you can see from the reference in the link on the main post. Although complex by design in terms of how the value functions within the swap period, the technology comprises a relatively straightforward set of functions and tasks that have been detailed in full in the WP. Therefore considering the ample internal resources of the team an external audit was not considered necessary given the relative simplicity of the product as is the case here. For forthcoming product releases however an independent external audit of the code will have to be undertaken as the products are significantly more complex so they will be independently audited prior to being launched.

Latest news: http://thecurrencyjournal.com/futereum-prepares-to-list-its-first-crypto-on-exchange-as-hedge-funds-eye-futr-for-eth-gains/443/

took a stake in FUTR, huge potential in the financial markets. It could bridge the niche gap between USDT/DAI & ETH

Wow, so basically, you are saying: If people don't invest over 500000 ETH (600 Million USD) in FUTR, the swap date will be moved back by 24 months?
Oh, and i think you forgot to mention the fees that you take:
.

From the White Paper:

12 - 36 MONTHS DEADLINE PROVISIONS (References & Explanations)
4.4   Checking   the   Deadline Each time a token is transferred, the time Is checked against the end time. If 12 months passes and the tiers are not filled, the deadline is extended to 36 months (Page 16); endTime Function Returns time of the next deadline (in Epoch time). This is updated for each different state. The length of each period (from contract creation time) is: Dispensing Tokens 12 months Dispensing Extended 36 months Wait 1 month Swap Tokens for Ether 5 days extended Function Returns a Boolean value indicating whether the token dispensing period has been extended because all tiers were not filled in 12 months (Page 19)

FEES (References & Explanations)
See: 1.3 NON-PREMINED APPROACH: FEE-ENABLED MINING SOLUTION (Page 7); Therefore, instead of premining the FUTR smart contract, we developed a fee
schedule based on achievement of actual mining levels being achieved over time. Assuming 10 Levels of mining difficulty being achieved over 12 months, with an additional one-off charge for product development, the fee schedules we developed is as follows:• Monthly Charge: 0.4% for Month 1-12 (there is no fee for additional months) • Level Cost: 0.6% per Level 1-10 • Administrative Fee: 5% (page 7); These fees, which comprise a total of 15%, are removed at source upon mining of the FUTR in ETH tokens (Page 8); 3.2 How Futereum Tokens Work (Page 13); For example, if there are 6.73 million FUTR in circulation, and the holder exchanges 673,000 FUTR, then given a total of 197,908 ETH (not including the 15.3% fees as per Section 1.3) (Page 13); 4.3 Storing Ether (page 16); The Ether remains in the Smart Contract and the fees are deducted (Page 16); payFees Function Pays any outstanding fees to the foundation and other addresses. Anyone can call this function (Page 20); Insofar as the fourth point is concerned, The Futereum Foundation does not receive any portion of any profit. It receives a flat fee paid in ETH at the point at which the FUTR is mined 9page 22); For every ETH received, the Foundation holds a multi-signature for the purpose of effecting any urgently in demand any technical issues. At the point when FUTR is mined, a one-off fee of 15.3% is subtracted from the smart contract pool of ETH employed in the mining process (Page 23); NB also big diagram on Page 23 (Part 8) detailing how fees are used

We are sorry if you missed these refs in the White Paper, but we are quite certain we did not forget to point them out. Thank you for doing so here at bitcointalk however for those that didn't read the whole White Paper through this is certainly beneficial (NB the note on website under MINING FUTR which reads: Please be advised: We suggest that miners read the White Paper before mining FUTR in order to better understand it’s multi-utility characteristics.)

Here is a video to help illustrate the potential and functionality of FUTR: https://youtu.be/PbLLN7HMka0

NB - the comparatively huge returns illustrates versus ETH for the same risk (if not less risk; because you are diversified) are what make the product so potentially attractive to such a huge market share. Mining has picked up a lot as social media sites and news sites such as Crypto Ninjas have been picking up on Futereum in recent days, too!

CryptoNinjas Headline story: https://www.cryptoninjas.net/2018/01/12/futereum-foundation-launches-eth-blockchain-futures-futr/

good video, I hope the future of this project is much in demand many orang.kita know this project has a good concept and interesting

Thanks for the positive statements. In terms of demand, a few interesting side notes and observations to share about the project so far:

1. With respect to underlying core demand for FUTR, it should really have as much demand as does Ether, since it is a derivative of Ether. This is sort of like saying Bitcoin had the same demand as there was for USD and CNY in the world, since Bitcoin is really a derivative (with a quirky carbon credit type algorithm jammed in it) of USD and CNY. Naturally, as a result, Bitcoin soared.

2. Having core utility beyond being FIAT payment substitutes with depreciation built in is essentially what separates utility crypto such as Ethereum from coins such as Bitcoin or Litecoin; BTC and LTC have no real utility at all other than as general payment mechanisms, whereas ETH has core utility as a gas obviously used to send tokens and Ether to and from everywhere, and also used to do things like make new tokens.

3. How much underlying demand will there be for Ether? is what then becomes the big question. Further, how much of that demand would want to take a diversified bet on FUTR in order to yield a higher-than-average return or to gain supply control of a mini-ETH ecosystem that is about to begin progressively more difficult mining levels anew?

4. Demand is likely to be for the most part organic and we are seeing some real evidence of this is much of the FUTR mining activity, with people mining FUTR more than once and several days - even a week or so - apart at a time. Essentially, because the underlying currency is ETH, FUTR seems to be considered a pretty attractive diversification to those who are currently taking advantage of the L1 mining.

5. We are going to see FUTR advertised around much more this week, on ICO sites, Google, FB, social media sites, and there will be more press forthcoming, so this should help build on the momentum for now.

We want to take the opportunity to thank those who have helped kick start FUTR's recent circle of the crypto communities everywhere which has been so helpful! We are very lucky to have such a smart, connected and intellectually-engaged core community building here, and to those who are still on the fence, we hope you come in and give the project a looksee.  ;D 8)

FUTR now up at ICO List: https://ico-list.com/Index/detail/id/429.html

Nice start to the week!  ;D :o

This coin will definitely making a historic in the crypto world, kudos to the dev team and I hope that this coin is making significant.. Wishing you good luck!

Thank you! We really hope so. There is a number of super-new things in this, but we have tried to think it all out as much as possible and make sure the follow-through is structurally as straightforward as possible  :D :D 8)

TODAY'S UPDATE  :D :o: We have a listing now at ICO bench https://icobench.com/ico/futereum listing / FUTR now up at ICO List: https://ico-list.com/Index/detail/id/429.html (from eariler post) / ICO alert / in additional ICO alert loves our project and has agreed to provide us a feature listing for 2 weeks, do an email campaign mail shot to their 20k subs, and a Special Report on Futereum. As well, Open Ledger has agreed to list us on their exchange and we are working out terms and costs etc. We also have 3 other publications filing stories on Futereum and we are talking with one other major ICO listing site to get the word out! Thanks for your support as always ...

This is well worth reading now markets are turning down temporarily and highlights FUTR's status as a derivative (and hence increased versatility value-wise for traders): http://thecurrencyjournal.com/two-charts-that-show-how-futereum-futr-is-the-best-digital-asset-to-play-when-panic-selling-comes-to-crypto-markets/522/

Here is the jist of this: if you buy FUTR now, and ETH goes back to $1300 this year, you will make 100x your money. That's pretty incredible when you think about the scale and proximity of it all ...

Hi, I like the idea, product is out, no endless wait for world peace, etc. I am thinking about investing myself. While reading the code, I saw that you charge 20% penalty for not swapping at the deadline.

 // Any holders that miss the swap get to keep their tokens.
 // Ether stays in contract, minus 20% penalty fee.

Could you, please, explain the rationale behind that? As I gathered, this is on top of the usual fee, so the fee for carried over balances is 35% after the 15% paid initially. Is this correct? Wouldn't this affect the scenario when a hedge fund buys the last few tiers of a contract, banking on the gains from the next?

This is an excellent question - and well spotted on the function in the code!

Actually, we believe that the function concerned will encourage more professional investors and less abuse of the token. The function you are pointing to gives the foundation an additional 20% of ANY UNSWAPPED ETHER in the event that that a FUTR holder decides not to swap back for ETH. In an ideal world, there would be 0 ETH as 0 ETH * 20% = 0 ETH.

However, there will inevitably be investors who snap up the final levels in order to gain a supply-side advantage going into the next cycle. This yields a similar effect to premining FUTR. For instance, suppose ETH had a bad December and investor A loaded up on FUTR at L10 and doesn't swap. In March, things are looking rather better for ETH and so he hoovers up L1 and L2 of the following cycle. By L3, he unloads the L10 on investors in the market and is still in the money as a result of a) a climbing ETH price and b) owning a disproportionate supply from the previous cycle (held over/unswapped).

While we are not against anyone using FUTR in this way, and we are sure that many institutional investors will indeed employ it in this sort of game, we think that there should have to be a penalty for doing this. That way, it is fairer for the retail investor who is buying the FUTR. Overall, we were conscious that there will be 2 types of investor in FUTR; there will be the retail guy and the cryptofund. That is because FUTR IS ETH and therefore it is certain any fund holding ETH will diversify a bit into FUTR. Some of us are bankers and hence we know all the cheats and tricks that bankers play on unsuspecting retail guys. So we said to ourselves, okay, well let's not ban it outright, as it produces some demand / liquidity, but at the same time, let's penalize them for doing this sort of thing so that it is kept to a minimum and employed only in net value productive ways.

Hopefully we have struck the right balance - that was the aim, anyway! The main point of markets being "free" and especially, of markets being "decentralised" is that having more money should not give you that much of an advantage over having more knowledge. This is something that has almost been reversed in the case of a lot of crypto today, and that is very sad. The key with this function is to recorrect some of that so that the guy who has more knowledge of ETH / FUTR stands a better chance with this product versus the big bag holder who just buys mindlessly and unloads when he feels like it.

Hmmm.which exchanges will futerum list on 2/18.....??? ??? ??? ???

We will confirm this within the next week. We have an agreement with an exchange that is currently being signed / KYC etc. and looks good.

Also, had some nice press in CCN today: https://www.ccn.com/futr-first-ether-derivative-contract-hedges-investors-market-sells-off/

Hopefully we have achieved the right balance - that's the goal! The main point of the market is Although we are not against anyone who uses FUTR in this way, and I am sure that many institutional investors will definitely use it in this kind of game

Buying this would be useless though wouldn't it?

Do not pay attention to the manually loaded tokens to the etherdelta, wait for official announcement. On the other hand, project have really creative name  ;D ;D

>If the 10th level isn't filled by the 13th month deadline then the deadline will be pushed back to 36 months

And what happens when the 10 levels can't be filled even after 36 months?

In that event, the swap is opened up anyway at the end of month 37. No matter what, you get to exchange your FUTR back for ETH. That's the deal.

In this sense, it is possible to see FUTR from a very interesting risk standpoint: on the one hand, you get a new (diversified) token holding in Ether, while on the other hand, you get Ether minus fees, which means your MAXIMUM downside ALL BEING EVEN otherwise with no Ether price movement at all in 3 years is ... 15%. Your maximum upside? Well, for one, there is no maximum upside, but further consider even if you do switch back for the Ether without all the levels being filled, Ether will likely go up many, many times in 3 years. (This would create massive value for FUTR however and hence there would be lots of mining of FUTR so unlikely the levels do not fill up if this is the case.) Well, in the event it goes up a lot, would you really, honestly hold out with Ether for the FULL price rise? Not many of us would. We love to think that we would hold out for a 33,000% gain, but very few of us have that level of risk tolerance in reality. Therefore, one other more "human" sort of benefit of FUTR is that it can be used as a mechanism in which self-discipline is exercised with respect to saving Ether.

We did not think of this ourselves, but rather a couple of FUTR buyers have been telling us this was a big reason for them to jump on board so thought we would share  ;D :D

Perhaps one of FUTR's most interesting utilities is as a pairing currency to trade against NEO, XRP etc.: https://www.reddit.com/r/Futereum/comments/7rggyg/the_power_of_futr_as_a_trading_pair_illustrated/

Quite simply it allows you to go long/short and to leverage and protect downside as a result of the dual algo!

Token Validity can be confirmed by checking the Contract Address on EtherDelta to Etherscan: https://etherscan.io/token/0xc83355ef25a104938275b46cffd94bf9917d0691 click the link "Make sure Futereum Tok is the token you actually want to trade. Multiple tokens can share the same name." and it will launch to Etherscan.   Check the Futereum website and you will see the same Contract Address: https://futereum.org/

There are almost 100 members in the FutereumCommunity Chat and I'm in the chat room if you have questions.

If you want catch up with the latest news about Futereum this week all in one short post: https://medium.com/@futereum/futereum-in-the-news-with-launch-of-ether-eth-derivative-futr-84556ee097a2

FUTEREUM? it reminds me of Ethereum.  ;D
I see it looks like this coin has great potential in the future. then where can I get this coin? is this coin already listed on the exchange and can be traded?

You are a team of three tech and finance experts who work with listed Fortune 500 companies, in the development of digital, mobile and Blockchain applications. Since the Futereum’s smart contract source code is published however, we don’t see any reason to make ourselves public figures right away. When to wait for the removal of masks and announcements of publicity?

Honestly, if you want the truth, because of the people like you who are in Crypto. You play in a world of Decentralisation based on someone's right to privacy and equalised basis of communal respect founded on the idea of the system / thing only, and all you want to know about are personalities? That's a dangerous person. In fact it's the type of "I wanna have my cake and eat it" mentality that Edward Snowden was uncovering in the national homeland security chiefs. These are the minds of politicians - and there seems to be so many of them in Crypto nowadays that it feels just plain unsafe for people who are not political by nature. Understand this is not a personal criticism of you. It is an answer to your question directly and truthfully. Hope you take it in that spirit :) for some of us in the world money is only a tool and power is privacy not publicity :)) sorry if it sounds strange to you

Read the whole website through (https://futereum.org) and this pamphlet through (https://futereum.org/wp-content/uploads/2018/01/FUTR-Jan18.pdf) and you should be getting FUTR delivered into your wallet no problem in pretty much no time at all! :D :D

Here is a more technical video explaining how Futereum's tri-part core/exchange/derivative utility functions work: https://youtu.be/1G4YAFfCaPk

We have nearly collectively mined 10,000 FUTR just over one week in :)

Great start!

>By employing a Fibonacci algorithm in the process of undertaking a reverse-mining of Ether (ETH)

Can someone explain this to me? I know what an algorithm is, I know what the Fibo sequence it, but I fail to see what reverse-mining is. And how a Fibo algo would help create an ETH derivative.

This smells like complete humbug to me.

Sorry, yes - it is a shitty description and you are right, it does smell like bullshit. It was likely one too many late nights that failed to catch that copy edit. What we meant was this - when FUTR is exchanged back for ETH, it is done on a %-per-% basis (that is the "reverse mining" bit), whereas when it is initially purchased with ETH, it is done according to that Fib. equation that runs down the FUTR/ETH column.

Which means early adopters are rewarded just like earlier adopters of Bitcoin/ETH.  There is now an endorsement for the pre-sale running on EtherDelta.  Also, I would check out the website there have been recent updates with a simplified whitepaper: https://futereum.org/

Updated 1/22/2017
- Updated member count
- Changed pre-sale end date

Pre-Order (20% Below Lvl 1 Mining Cost, Ends when it is gone!) Sold 1/2 of the pre-order in 3 days, didn't expect that kind of interest.

I have been in the Telegram Community: https://t.me/FutereumCommunity chat for the last few days and the community has been a great help in helping us understand this product, especially Amanda, who never sleeps and AK899.  I’m excited about this project (I’m a large FUTR investor) that I want to get more people involved.  To do so I’m selling a portion of my FUTR pre-order for 20% below level 1 mining cost!  You don’t get it cheaper than that when it gets listed on Open Ledger, February 2 (when this pre-sale ends).  This discount is on the honor system but I figure it would be enough to get you to join into our chat room to learn more. 

Personal Endorsement by Futereum! (https://medium.com/@futereum/how-futereum-will-to-change-the-world-168d0853dc8d)
EtherDelta Listing: https://etherdelta.com/#0xc83355ef25a104938275b46cffd94bf9917d0691-ETH

Token Validity can be confirmed by checking the Contract Address on EtherDelta to Etherscan: https://etherscan.io/token/0xc83355ef25a104938275b46cffd94bf9917d0691 click the link "Make sure Futereum Tok is the token you actually want to trade. Multiple tokens can share the same name." and it will launch to Etherscan.   Check the Futereum website and you will see the same Contract Address: https://futereum.org/

There are 126 members in the FutereumCommunity Chat and I'm in the chat room if you have questions.

i wish this project a big success in the near future, count my support thru sharing and posting on my social media accounts. goodluck to this project and goodluck to you dev.

Futereum back in the news today credited here with heralding in the era of the Reverse-back Crypto offering: https://www.cryptoninjas.net/2018/01/23/futereum-foundation-coins-term-reverse-back-cryptos-rbc/

Encouraging to see Futereum innovations getting such widespread acknowledgement so soon in the game!

Probably another scam from Daniel Harrison, creator of Monkey Capital. He's tweet about it: https://twitter.com/dmhco/status/955897754559090689

Sorry, it seems you may be mistaking the project for another. We heard that there were a lot of this people in Telegram today too. Plewase we ask you respectfully to keep discussion calm and measured in the Futereum Telegram. We do not monitor or administer the rooms for Futereum as we want to create decentralised ecosystem first of all, but this means we must be respectful and not loud and pushy with out points. Thank you for understanding and we hope you look more closely at our project and like it :))

More nice press for FUTR: https://www.legalgamblingandthelaw.com/news/futereum-to-answer-skeptics-questioning-inherent-value-in-cryptos/

"The common complaint which we can hear from crypto currency skeptics is that crypto currencies do not carry any inherent value. The developers of Futereum (FUTR) have formulated a strategy to create a minimum instant value in their offered coin. The Futereum smart contract enables its native token, known as FUTR, a utility derivative. The smart contract is powered by the Ethereum network. By employing a Fibonacci algorithm in the process of undertaking a reverse-mining of Ether (ETH), FUTR simulate Ether Derivatives Contracts while giving miners whitelisted early access to similar future product releases ...

... FUTR is a unique payment utility that works like a call option on the payment currency itself. In this way, merchants are able to charge their customers progressively less over time while making much more in return for the same goods and services.

The developers claim that it is the world’s first value enhancement of the block chain."

Also very interesting chart here: https://twitter.com/futereum/status/956436758949974016

video about this "project" from the guy who said "Monkey Capital isn't a scam":
https://www.youtube.com/watch?v=yITnOeR6JEM&feature=youtu.be

Daniel Mark Harrison, we can smell you scam ass stink everywhere.

Stay away from this shit.

https://i.imgur.com/nDtvlOY.jpg

You need 600 milion USD to make it work. If not, your ETH will be taken away in form of "penalty fees" over and over.
If you pay any money into this contract you locking your eth for 36 months. And 15% is taken away just for locking it.
next 20% is taken away when you do not swap ($600mil needed). Afterwards contract repeats itself. Your eth is still there.
You are left with worthless token.

Some idiots already paid 100 eth into it.
You are paying into Daniel Harrison piggybank.

read back
https://bitcointalk.org/index.php?topic=2010103.540

and here
https://bitcointalk.org/index.php?topic=391806.msg26365281#msg26365281

and here
https://www.coindesk.com/cryptocurrency-hedge-fund-hit-class-action-lawsuit/

lawsuit
https://anonfile.com/Y1Cfobddbb/5_6183901398908796952.PDF

This sounds rather funny, futureum? the future of ethereum? I think it's a little pushy. But this is what is unique, all have followed the growing trend in the world of cryptocurrency.

Can we please make admin aware that this thing is SCAM.

As you can see even admin of telegram community bailed
Deleted account with "star" mark

https://i.imgur.com/OTccLdt.jpg

https://i.imgur.com/tFCE604.jpg



SCAMMER is still active on twitter and prepping invite only room, so he could scam people undisturbed

https://twitter.com/futereum?s=09



https://i.imgur.com/3V4vg4a.png

Welcome back DMH. Missed you. Already getting the popcorn, let the entertainment begin : )

Is this seriously? This guy already collect more than 100 eth from mining participant and it's less than a week. Looks like so many people are hypnotized by the price of this token, you're all should be carefull.

Now you are done, it's a smart contract. No one needs to "be careful". That is what the point of a SMART CONTRACT is for! It is an extension of Satoshi's original idea whereby a technology would provide a trustless interface for financial transactionability.

Also, no "guy" collected the 100 ETH++ (good going on that one by the way!) The SMART CONTRACT is the collector of the ETH but let us help you by breaking it down:

When you purchase FUTR by sending ETH to the smart contract, this ETH that you sent is stored INSIDE the smart contract until the date and time of the swap-back (which in addition is voluntary, not mandatory). The FEES from the ETH are held in a wallet wherein another smart contract exists as the executor of an alternate product that will become available in the near future. (About 50% of the fees are used for core development purposes and about 50% of the fees are employed in alternate product utility. This is ALL OUTLINED IN FULL IN THE TOKEN'S WHITE PAPER!)

There is no need to "be careful" if you understand the source code of the contract. If you do not understand the smart contract source code, or if you "feel" that "some guy" may be collecting this ETH that is stored in the smart contract - despite the technological capability of the Ethereum Virtual Machine and what you know about it already - then, okay, admittedly if this is the case you should probably not play Futereum or any ERC-20 token as you will probably not be able to value the token correctly. Note that by making such a claim you are not challenging the Futereum project scope, you are challenging the Ethereum project scope, so you ought to be prepared to be able to argue very concisely with Vitalik Buetrin; if this is the case then we suggest you send an e mail to the Ethereum Foundation: https://ethereum.org/ as we are quite sure they will be interested in knowing about such a potential flaw in what is the core USP of their product spec!

I'm sure this will lead to CRAAZYYYYY profits for investors Daniel Harrison.
Investors are going to be LINING UP to partner with join the class action against Daniel Harrison.
No one knows how to lay dump a market like Daniel Harrison.

He's definitely the FUTR (Fraudulent, Underhanded, Thieving Reprobate) of crypto.
Avoid this and any other project associated with this snake oil salesman.

We understand that you are "sure" but then ask that you refer to the previous response given about being "sure" or "feeling" something is  the case despite everything indicating the contrary is so: just do not play FUTR. It's fine. It was not designed with customers like yourself in mind.

You can stop now daniel.

You have FAKE non existent team.
You have paid press releases and paid shills who support this crap.
You are hiding behind curtains (and one girls skirt, DMH china)

You cannot even use your own name, because all what stands at it is word SCAM.

Regards from monkey capital community, which you scammed.

We understand that you are "sure" but then ask that you refer to the previous response given about being "sure" or "feeling" something is  the case despite everything indicating the contrary is so: just do not play FUTR. It's fine. It was not designed with customers like yourself in mind.

•   Total Supply: 6,730,000 min.
•   ETH exchange: 425,056 min.

6,730,000 is the minimum amount , right ?
and How many real total supply ?

thanks.

Here: http://thecurrencyjournal.com/futereum-website-down-please-read/574/

Some of our friends on this ANN no doubt! Charming people ...

6.73m is the maximum for this cycle. The present supply (the "real total supply" I assume which you refer to?) you can find on the Block Explorer: https://etherscan.io/token/0xc83355ef25a104938275b46cffd94bf9917d0691

FUTEREUM X (FUTX) is now online: https://bitcointalk.org/index.php?topic=2872374.0

Proof of Ether hmm interesting so this project using Platform Token Ethereum ERC20 Token ?, currious about this Proof Of Ether (Mining) like maybe POSTOKEN By using PoS system at ERC20 Token. must waiting an coinage  ?

Yes FUTR and its short-cycle counterpart FUTX (https://bitcointalk.org/index.php?topic=2872374.new#new) are both ERC20 tokens. Because of the way the smart contract is employed in the production process of FUTR, the proof of Ether mining is synonymous with Proof of Value mining more generally.

It's a type of mining called Proof of Value (POV) where the Ether unit is used as a form of value to create 3 separate utilities so that the utility token issued (in this case it's FUTR) is given immediate definable value via derivative utility. Here:

How Do We Convert Payment Utility Into Payee Utility On The Blockchain?

•   Digital currency is created as a result of the following: Value = Utility. This process is assimilated via a Blockchain which peruses a binomial random walk to create a unique Proof-of-work algorithm (POS uses a similar function). This process creates what is called a value coeval.
•   Unless V = U there can be no digital currency as double-spending, unidentifiable value etc. becomes a problem. This was Satoshi’s finding with respect to payment utility.
•   In recent years there have been attempts by innovators to create a form of payee utility out of the payment utility inherent in the value coeval. The attempts have for the most part focused around recreating securitised products on the Blockchain by employing methods such as introducing token dividends, profit-sharing token buybacks etc. The problem with these mechanisms is they do not resolve the critical question which is: how do we convert payment utility into payee utility?
•   A way in which payment utility can be converted into payee utility on Blockchain is as follows: we subdivide the coeval utility that produces the value on the Blockchain into three separate components: core utility, option utility and exchange utility. We then take these three forms of sub-divided utility and divide them by the value coeval that is inherent to Blockchain functionality. We do this via a smart contract which simulates a Blockchain creation without actually being an individual Blockchain (and thereby bypassing the requirement for adding additional coeval value):


•   This discovery is significant because it allows us to create a system whereby payment utility is converted into payee utility between every individual function of payment utility separately while still conforming to Blockchain standards such as being an independent non-securitised token offering.
•   In other words (CU*OU*EU)/VC = Blockchain Payee Payment Utility
•   What has made this possible is the act of using Blockchain payment utility as a mechanism of “profitable payment” which thereby allows the payee to make a payment while still benefitting from the greater amount of FIAT-convertible proceeds of such a payment.
•   This is because of the dynamic multiplication of the three components of Blockchain payment utility: simply, when expressed in a Blockchain (POW/POS) equations it will necessarily create an enhanced form of payment utility (Blockchain payee utility)

Yes it has not been done before. It is part of a much bigger system wherein all the tokens interact with one another. You can find more here: http://thecurrencyjournal.com/creating-profitable-payments-on-the-blockchain-a-breakthrough-innovation/600/

Hi,

Did FUTR go live?

In beta it did, we should be live for everyone else tomorrow. The developers are working Israeli weekend so they will resume with the final adjustments after the Sabbath which is Sunday.

Looks good!

Latest news on the exchange listing and domains: http://thecurrencyjournal.com/futereum-domains-returned-to-owners-as-futerex-exchange-gears-up-to-go-live-futereum-tokens-peercoin-zurcoin-to-comprise-base-trading-pairs/639/ (currently at www.futrcoin.com but are moving back!)

http://Futerex.com - Futerex Exchange is now open!  :D ;D ::) ;D :P

............ and its running on this.

https://www.cryptonext.net/?page=products#white_label_exchange


founder is scammer, paid articles, fake non existent team, "fake exchange".


Its getting funnier with every day.

Class lawsuit is coming your way sooner or later.


btw: Lies and deception

https://i.imgur.com/yJ3xjhv.gif
https://bitcointalk.org/index.php?topic=2698035.msg28828062#msg28828062

http://thecurrencyjournal.com/futereum-domains-returned-to-owners-as-futerex-exchange-gears-up-to-go-live-futereum-tokens-peercoin-zurcoin-to-comprise-base-trading-pairs/639/
http://thecurrencyjournal.com/futereum-website-down-please-read/574/

https://i.imgur.com/VUoXhCQ.gif


Are you F****** kidding me? XD

Looks shady, did the white paper say to be listed on 1 exchange feb 2nd so he built his own exchange? Ah whatever, to each there own i guess, wont recommend anyone get in till its on a decent/established exchange.

We recognize it is very hard for you to see someone not give up, keep designing new, awesome products for Blockchain, keep improving and delivering, when all you want to see is that person fail and give up. However, you won't have such satisfaction - sorry.

Just because now that your mindless ranting has turned off the entire Telegram you invaded where we were before; just because you and your friends are frustrated that you have not got anywhere AT ALL with your FUD but instead the model is shining through, and more delivery is taking shape by the day and serving people real value, well, that is no reason to keep trolling.

It is a strange thing, FUD. At first it terrify the investor and it work to some extent. But after if the project team keep delivering and power on it just look like the crazy people and everyone abandons the fear. The time to FUD is over. There is no rational to your argument now, just cries of fear which people are quite used to now.So it seem like this will be a waste of your energy.

Therefore we suggest to you that you should really refrain from this sort of behavior of throwing out mindless accusations and unnecessarily damaging other people who you claim to protect by your ignorance. It really doesn't make you look good at all.

If you know something about blockchain history, you will know then that every major blockchain innovation has been through and survived such FUD - there was a point when everyone used to say the same things about Vitalik Buterin, things such as "Vitalik is a scammer who tried to sell me a quantum computer!" etc., "Ethereum is the IMPOSSIBLE Blockchain that cannot exist because Blockchain can ONLY do what Bitcoin Blockchain can do! No blockchain can make tokens are you crazy and delusional and living in some crazy person's world?!"  8) ::)

If you do not like an idea and an innovation then simple - no one is making you buy any tokens. But you cannot say anything bad about a project that is fully-functional and in smart contract, and which has a fully-operational exchange that is custom-built, along with a fully-fledged value model with multiple interlocking (3) smart contracts that are in development and clearly nearing final delivery stage is in evidence. Have you read the recent papers explaining how the model works? Maybe you should get some facts before you shout in public. This is not the way that civilized people behave. This is not the way that we can achieve great thing; we all hate scam but how can you say project with exchange, multiple WP, multiple smart contract etc. is scam? If scam, then what is real?

It will not make you look good any more to behave as such this way merely as if you are just trolling. It's time to sit back and admit it - you lost with your wrong minded point of view. It is okay. We are all wrong sometimes. You were wrong. The project and innovations are good quality and many many people are enjoying them. Things are in delivery mode now and happy faces are all around. This project and its associated projects will be a remarkable blockchain success. Your legal case also stands no chance of being taken seriously on the hundreds of false facts you have presented. We have all read the case. We can all see the lies in it. It is FUD and we have seen this many times before.

It's OK friend, now my point is that it is time to move on with your life and stop being so angry with the world.  8) ;D (ps - no this is not Daniel. He is too busy right now to tell you himself so I am trying to warn you nicely first time round.)

Futereum is Future of Crypto, and other project is proud to join with it to produce the real products everyone can enjoy.  :D ;D

Yea, I am glad that amidst the unwavering FUD and porn spam on the telegram that I went through with learning more and investing.

I get there is some history between Daniel and others and I dont know all the details, but I do A) forgive mistakes & believe devs / thinkers want to make money themselves B) trust the code C) dont invest what I cannot lose..literally lose, to 0... whether it be a computer that falls in the ocean, lost wallet, mt gox scenario, getting screwed over to the speculative nature of all this, or the market goes tits up.

the non-stop badgering and vulgar porn spam only resulted in the case and character of those FUDers to be reduced to whining and vitriol.

guess we will see what pans out

Jed Mcaleb still alive an stellar is surviving after all the crap he was in with mt gox so i guess its no real issue to work with someone of questionable past[not implying guilt or innocence]. The paid nonsense however is far from truth, has anything even been traded on the exchange?

Quote crypto journal
"Elsewhere on Futerex Exchange FUTR was being offered at 0.01 BTC / FUTR, around $6.47 / FUTR, while FUTX smart contracts were 0.05 BTC / FUTX, or $32. FUTX contracts tend to sell for higher prices in times of rising market conditions due to the more limited supply of FUTX tokens combined with the shorter-cycle mining periods entailed in level-crosses, indicating that a bottom may be reached for digital asset sell-offs even as securities markets begin to enter into the red."

The order books look empty to me and they should be, even coinbase took time to build liquidity so not sure where this bollocks comes from. A single entry that hasnt been fullfilled yet in the order book?

Looking back through questions pertaining to listing on exchange its obvious that they have been misleading, unless they had to call their own exchange to question and get information on listing futr.

quote dmhco on reddit
1) This is still the case as far as I am aware. I spoke to the exchange in question today by phone and certainly the guys there didn't seem to have any problems with this. Not sure what you mean by crappy, but if you are looking for Binance by Feb 2, I can tell you for a fact it is a "no" ... will it have volume to trade (which is the function of an exchange)? Sure. You will be able to trade your FUTR for a better value without any issues if all goes according to plan. That's the whole point.

listing of coins like zurcoin on futerex
i guess its obvious that the dev would support their own interest so i cant really bitch about that
Small cap dead stuff should be avoided for sensible investors if they do chose to use the exchange.

White paper says 2 more exchanges by 31st March, topic here says by end of december. From laymans analysis the contract seems to do what they say it does so the only real risk is a 3 year wait and 15% loss of your eth contribution.

Again, its a smart contract so not to worried beyond getting exchange listings thus far and questionable communications/publications. This has potential to be successful however without some  major visibility into the project from outside the 144 of 500067 eth collected thus far doesnt look to promising even over the 3 year period.

dev has an up hill battle with this one, suggestion to publish hard dates and planned exchanges for listing. All the best mate, hope this works for you and every investor.

lol man, lets ask your monkey capital community, about things you delivered.
NOT.

 


Rational arguments? like 6000% returns? COE  will be 4BTC? some other shit you made up during last months?



Better look back last few months. Ask your own community how they feel about it.



Dude, your paid platform on cryptonext took few days to create. do not be ridiculus.



What delivery again? Its so wonderful that you need to hide between non existent team, you are so burn in cryptosphere that you cannot even use your real name


Lol, threating because I'm uncovering some facts youre hiding behind smokescreens? lol

You think that if you will write a wall of crap people will forget? lol.


Everyone can check for themselves - Just some facts. You can check it yourself if you want.
Look for "daniel harrison monkey capital", you will find what you need.

1 - monkey capital happened to be last summer scam - founder - daniel harrison - investors lost piles of money thanks to him dumping his tokens. Class lawsuit is in the motion. See bitcointalk topics https://bitcointalk.org/index.php?topic=2010103.540etc theres more https://bitcointalk.org/index.php?topic=391806.msg26365281#msg26365281 more https://bitcointalk.org/index.php?topic=2698035.msg28919106#msg28919106
2 - all tokens sent to his wallet for swap (to erc20 standard) are taken hostage - community were told to BUY HIS ANOTHER TOKEN as insurance to avoid their funds being raided. I'm being serious.
3 - PRE token listed on binance - he DUMPED his own token (he owns supply) on his own community telling them to buy. This totally destroyed all market.
4 - he took over 22BTC loan from his community - and he do not want to give it back - instead he's offering his worthless shitcoins.
5 - during few months he created over 14 different tokens, and destroyed their markets. ALL failed.

Team is non existent.
All publications are made by him.
Exchange is some monthly paid crap - given his history he will forget to pay for it, as he did with monkey.com domain.

Theres lots lots more.

avoid.

Where are the ERC20 COE and MNY? I thought the tokens were being swapped in October?

Or did Craig smoke them all?

Whenever someone is suing someone you want to have your wits about you. It is very much in their interest to see anything this guy does just flop. If he succeeds they essentially have nothing to sue for except their own stupidity in selling out. If they didn't sell out and end up profiting from the project they may even have committed a crime, so ... just something to remember. There is a reason behind any sort of FUD that is this powerful (ie 24/7). In this case, that is quite a lot of reasons they may be interested to see the whole thing collapse so safe to say there is some sort of agenda bias maybe  ::)

I invested because I trust your logic and looking forward to our future.....whether it's 1 year from now or 3 years from now. Excited for the future of crypto......even though all of us FUTR investors already took a small hit from this turbulent market.

My question is - what will you do to push adaption? Lolicon pointed out that you aren't exactly where you wanted to be in terms of current adaption and that's okay, that could be for a number of reasons.

Sounds like you are banking on institutional markets to invest in Futr, and that makes sense given the volume. What are you doing to convince them to get on board?

Question: When will you pay Sam the 100k that you owe to keep your fledgling Singapore  business running? Or do you plan on blaming that on the Russians or Spina or Josh or Aliens?

You’re a THIEF

https://www.thetimes.co.uk/edition/business/daniel-harrison-accused-of-30m-crypto-fraud-cn6b0hgrm

 I have been watching it for quite awhile now.  I have read everything I can on it and I have watched everything I can on it.  I personally think the project holds a lot of promise, I can't find fault with it and thus I have invested in both FUTR and FUTX.  I think this is going to be big, take a look at there website:  https://factorybanking.com/#

brand new account + first post = risky click 'o the day.

m4tsby, I am new, not for a moment does that change the truth of what I have said.  The reason I joined is because I wanted to see if there were any new posts on what I have purchased and so that I could give my opinion on what I view as a sound product.  The way I see it you are trying to fud a sound product and what I expect will be a damn good investment, once again take a look at there website:  https://factorybanking.com/#

Question: Is this the only project in crypto with a fake management team and a creator with a pending lawsuit from a previous scam?

Answer: yes

Thanks for your support. Futereum X was listed on Cryptopia today: https://www.cryptopia.co.nz/Exchange/?market=FUTX_BTC and FUTR has a CREX24 listing now as well: https://crex24.com/exchange/FUTR-BTC

There will always be FUD around projects with brand new approaches for a bit. With Ethereum, people used to say "it's not possible to build a blockchain that complex" or "Blockchains can't make tokens" etc.

Well, well ...

If I buy FUTX on an exchange, eg Cryptopia, what is really happening? Does Cryptopia send ETH to Futerex exchange and get FUTX back? What happens at rollover? Does my FUTX balance on Cryptopia just turn into ETH?

I'm not affiliated with the Factory Banking Project : Futereum, but I'm going to share what I think I know. I've read every shred of information I can find, but have some questions as well.

Buying FUTX or FUTR on an exchange is simply transferring the token ownership to you. At a point in the future, when all mining levels have completed, or the time limit has lapsed, you may send the FUTX or FUTR token to the ETH address to receive x amount of ETH per FUTX / FUTR. I'm assuming there is a certain window of time where this can be done before a new mining cycle starts.

At rollover, any FUTX or FUTR not returned for ETH, will be included in the next mining cycle. There is no automatic swap. Each FUTX or FUTR holder makes the decision to hold, or swap.

I hope futereum or someone will make some clarifications and correct me if I am wrong. I am excited about this, and hope it succeeds. It should add extra liquidity and value to ETH

You have got it exactly right!

The best way to think about these tokens is as markers for loans. When you send Ether to the Futereum X smart contract, in effect you loan the smart contract Ether. At the point of the swap, you get the opportunity to roll your loan to the smart contract over or to take a portion or the whole of the loan principle and whatever interest may be available to you (in the form of additional Ether earned via the extra swaps in the bag).

Now, when you purchase FUTX (or FUTR) on an exchange, then you essentially purchase the loan, and that means, the right to get paid back as well. Thus, as you correctly state, as the owner of a FUTR/X token, you can send the token as with any other you may have purchased directly from the smart contract, in the same exact way, back to the smart contract and you will be rewarded a disproportionate amount of Ether. The period you have to swap is a 5 day period which takes place one month after the mining period ends for the last cycle.

Your comment about the project's ability to help improve the Ethereum network is one we haven't made nearly a big enough deal about, yes. The project ultimately shores up Ether so the network is more efficient, creates new value alternatives to exploit the Ether price increases that will surely occur throughout 2018 and it actually is the first ever cryptocurrency to have a definite value. There is no guess-work involved with FUTR and FUTX; you can determine down to the eighteenth digit of an ERC20 token, just by doing the calculations in Ether and / or whatever FUTR/X is being traded against, when FUTR / X is over priced or underpriced relative to Ether. With the prices as they are for FUTX right now at Cryptopia, you are getting ETH at a 50% discount, which is simply crazy, but there you go!

ETH is for sale now on the spot at $380. You must hold it for a minimum of 3 months (best case) and a maximum of 11 months (worst case). What do you do?

Take the poll now!: https://twitter.com/futereum/status/968295612893540353

I also posted this on the FUTX Announcement thread.

I really hope my previous post didn't lend any credence to this. Although I DO see value in a futures token system for any crypto supporting the function, I find FUTX / FUTR to be very misleading to anyone thinking about investing.

Anyone exchanging ETH for FUTX or FUTR is up against odds that even underground gambling would find excessive. With the 15.3% fee, then potential 20% fee at deadline, one is very likely to lose 33% of their investment even when exchanging in the first phase.
Anyone exchanging after the first phase face even greater odds.

If you do the math, you'll find that the designer/s of this token based the whole system around taking a 1/3 cut from any deposits. Additionally, they (or he) can play their (his) own system to take more, which is very likely, given that very few ETH have been exchanged for FUTX / FUTR since shortly after it launched.

I haven't inspected the token source code to enough to rule out anything additional hidden within, or that it couldn't be altered at a later date.

Lastly, there could be bugs in the system, a risk that any crypto faces. However this risk is trivial considering all the MASSIVE FEES AND LIABILITIES mentioned above.

There really shouldn't be any need for fees, as it should not require much development and maintenance at all. If there are fees, use them as an incentive for investors, not a way to rip them off.
0.1% fee should be more than adequate to maintain a website.

The math futereum posted showing how one can essentially buy ETH at a hugely discounted rate on Cryptopia, by buying FUTX now, then exchanging later is only true if he follows through on the promise.
Given all the misleading information, unclear information, and questionable past, I would take this promise with a tugboat of salt.

Do you understand how smart contracts work?

xxxEUM ::)

Yah, we really did go through the math again, and it just kept looking better and better when it came to FUTX now it's on Cryptopia:

FUTR   ETH   USD/FUTX   ROI
10,000   88    $7.46    
19,900   199      
29,500   374      
38,600   641      
45,800   984      
52,300   1,484      
57,900   2,184      
62,400   3,084      
65,600   4,151      
67,300   5,001      
21,500   4,017    $158.80    
31,500   4,104      
41,400   4,303      
51,000   4,677      
60,100   5,318      
67,300   6,302      
73,800   7,786      
79,400   9,970      
83,900   13,054      
87,100   17,205      
88,800   22,205   212.55   
43,000   21,221      
53,000   21,309      
62,900   21,508      
72,500   21,882      
81,600   22,523      
88,800   23,507      
95,300   24,991      
100,900   27,175      
105,400   30,259      
108,600   34,409      
110,300   39,410   303.75   3974%
67,300   38,426      

In this example, L5-L10 do not swap. With that in mind, and keeping in mind too that the current market price of FUTX is approximately half its intrinsic value, and there is approximately a 7,500% intrinsic price movement within the space of 6-18 months for FUTX. That sort of price event will quickly propel people into FUTR to capture the same early uplift advantage.

Yeah - agreed, it is a compelling reason ... why aren't more ICOs doing this though? A lot of talk from Daniel and not so much action is that it? We will see!

Well......have a small investment in this......hope someone starts buying this.

What makes your project different between other similar projects?

I am reviewing the project documents for about 4 hours. It looks like a very comprehensive project, I will invest a little for ICO. Does Elon musk really support this project?

Where on earth did you hear that Elon Musk supports the project?

McAfee does! He suggested a BUY on FUTX today!

See also: https://bitcointalk.org/index.php?topic=3285334.0

Hi,

I am from Escodex exchange and we invite you to list FUTR on our platform.
It is lowest trading fee exchange at just 0.1% and we have fastest txn time of <1 sec. We have listed 20+ coins and invite you to be onboard too.

To discuss listing do revert.

You may check our official Discord Server: https://discord.gg/4HxM9kc
and contact Emma#5083

Telegram Group: https://t.me/escodex
and contact @EscoAdmin

or via mentioned email

Thanks,
Emma Jones
Business Associate
https://www.escodex.com

The cryptopia exchange that people were using to trade FUTX is de-listing it along with 25 other coins because they are classified as Financial Instruments.

Are you planning on re-listing FUTX?
Do you plan on listing FUTR?

And where is your Twitter account for updates? Twitter says it's suspended?

https://twitter.com/Futereum1

Your website was taken down.

Your twitter is inactive. I invested thousands into this project where is the website for it?

It seems there is a big problem as there no Link for contacting and what will happens to money of the investors.