[ANN] [FUTEREUM (FUTR)] [Ethereum Blockchain Derivatives Contract]

[LAMBO CUCK]

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

Or did Craig smoke them all?

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[zurcoin_on_yobit]

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

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  

[njelbowdrop]

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?

[LAMBO CUCK]

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

[ODINN]

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

A former public schoolboy has been accused of being the mastermind of a multimillion-pound international cryptocurrency fraud, which netted him $30m and saw one investor commit suicide.

Daniel Harrison, who is the son of a senior City financier, is alleged to have lured American investors with an initial coin offering (ICO), used to fund the creation of a cryptocurrency.

Harrison, in his late 30s, according to US court papers, was the founder of Monkey Capital LLC, a Delaware company, and Monkey Capital Inc, a Singapore-based company, and used them for “fraudulent purposes”. The claims have been made in a civil class action filed in a Florida court. The filing comes amid increasing legal and regulatory concerns about the boom in crypto-currencies.

Harrison could not be reached for comment, but he has previously told the cryptocurrency website CoinDesk that the claims are “ridiculous”. He has yet to file a formal response.

The Monkey Capital class action alleges that investors ploughed more than $5m worth of bitcoins into the ICO in return for options called a coeval, which could in turn be exchanged for a crypto-currency called monkey coin.

The legal papers state that there are “at least hundreds if not thousands of putative class members”. One of the original plaintiffs, Jeffrey Heberling, recently committed suicide.

A trial date has been set for September 17.

Investors were told that these coins would “derive their value from the usefulness and popularity of the Monday Capital Market — a development and launch of which was entirely in defendants’ control”.

However, the ICO, which was scheduled for July 2017 according to the court papers, never took place and the six plaintiffs never got back their bitcoins. The coins are now valued at more than $15m (£11m).

The class action states: “800,000,000 of the Monkey Coins were issued to Daniel Harrison, who quickly converted them to other cryptocurrency and fiat currency . . . presently valued at $30m.”

Harrison, who is thought to live in Singapore, says he went to Lancing College and Oxford University.

His father, Mark Harrison, who was a senior figure at Deutsche Bank and Morgan Stanley, said: “I don’t wish to comment.” 

[Herkylikescrypto]

 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/#

[m4tsby]

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

[Herkylikescrypto]

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/#

[LAMBO CUCK]

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

[futereum]

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/#

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 ...

[Swinging Phallus]

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?

[leoinker]

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

[futereum]

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!

[futereum]

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

[leoinker]

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.

[futereum]

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?

[allwelder]

xxxEUM

[futereum]

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.

[zurcoin_on_yobit]

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!

[njelbowdrop]

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