Topic: [ANN] [FUTEREUM (FUTR)] [Ethereum Blockchain Derivatives Contract] (Read 16414 times)

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

Your website was taken down.

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

https://twitter.com/Futereum1

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

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?

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

See also: https://bitcointalksearch.org/topic/ann-mny-ico-monkey-capital-initial-coin-offering-3285334

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

McAfee does! He suggested a BUY on FUTX today!

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?

What makes your project different between other similar projects?

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

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!

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.

xxxEUM

Do you understand how smart contracts work?

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.

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

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!

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

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?