What Forsage: Forsage is a multilevel marketing (MLM) scheme that claims to have created the world's first 100% decentralized smart contract. ... That smart contract “facilitates peer-to-peer commission payments between its program participants.”
Forsage is a crypto currency multilevel marketing company that appeared online in April 2020. They claims to have disrupted the crypto world with some type of advanced smart and great contract.
Many Investors have hailed the platform as the decade of investment because of the profit derived from it. So is forsage a crypto MLM opportunity legit to begin with ?. "By paying to join the company today, you can become a part of an exciting business opportunity at least, that's what Forsage claims. This article will enlighten you if Forsage is a multilevel marketing scam.
The Forsage Smart Contract
They built a Smart contract on Ethereum blockchain,which replicates the distribution system of a multilevel marketing company.
You send your joining fee to the smart contract instead of sending it to a company which the Smart contract sends your fee to the pyramid. When you bring people into the platform those members receive a slot beneath you.
Forsage’s smart contract is viewable on the Ethereum blockchain via Etherscan.
The company claims this is the MLM scheme’s smart contract:
Forsage Profile Claim
On the 21th of April,2020, they claims to have generate an enormous profit of 6,977 ETH of profit and 22,681 ETH profit overall.
Forsage claims to be creating $1.2 million of profit in USD terms l,. which is not just there revenue. Every week they make $3.9
million Profit overall.
Who Is Behind Forsage?
Forsage domain was registered on February 9,2020 and all information attached to the domain as been anomized.
Nobody knows who is behind the scheme because they didn't disclose it with Members, but with my knowledge they are pyramid scheme with admins at the top of each "matrix" or pyramid and these admins get the Largest income from your fund's.
On June 30 the Philippines Securities and Exchange Commission (SEC) warned all investor against the Forsage decentralized on Ethereum blockchain, calling it a pyramid scheme.
With the quote “The public is advised NOT TO INVEST or STOP INVESTING in any scheme offered by FORSAGE or such other entities engaged in smart contracts, cryptocurrencies, and digital asset trading that are not registered with the Commission and the BSP,”
My Final Research & Advice
There’s limited information online about who’s running Forsage or how it works. However, the official Forsage website claims the scheme is generating over $1.2 million of profit each week.
Forsage seems like a classic and perfect pyramid scheme with all they claim to the investor, you pay (0.5 ETH) to the company smar contract then attempt recruit people into the pyramid scheme after you. Remember you receive 0.025 ETH Commission for each person you recruit while they funneled all the rest money up the pyramid.
pyramid schemes are illegal in most parts of the world – including the United States. Forsage does not sell any products or services – it’s just a membership-based pyramid scheme with anonymous benefactors who placed themselves at the top. All of this makes Forsage an illegal scam.
So be Careful while dealing with the platform because if the platform are unable to bring me user's it will crashed.
You can also follow my Whatapp TV @StephenAdeTV for More Fact & Interesting Article
million Profit overall.
Who Is Behind Forsage?
Forsage domain was registered on February 9,2020 and all information attached to the domain as been anomized.
Nobody knows who is behind the scheme because they didn't disclose it with Members, but with my knowledge they are pyramid scheme with admins at the top of each "matrix" or pyramid and these admins get the Largest income from your fund's.
On June 30 the Philippines Securities and Exchange Commission (SEC) warned all investor against the Forsage decentralized on Ethereum blockchain, calling it a pyramid scheme.
With the quote “The public is advised NOT TO INVEST or STOP INVESTING in any scheme offered by FORSAGE or such other entities engaged in smart contracts, cryptocurrencies, and digital asset trading that are not registered with the Commission and the BSP,”
My Final Research & Advice
There’s limited information online about who’s running Forsage or how it works. However, the official Forsage website claims the scheme is generating over $1.2 million of profit each week.
Forsage seems like a classic and perfect pyramid scheme with all they claim to the investor, you pay (0.5 ETH) to the company smar contract then attempt recruit people into the pyramid scheme after you. Remember you receive 0.025 ETH Commission for each person you recruit while they funneled all the rest money up the pyramid.
pyramid schemes are illegal in most parts of the world – including the United States. Forsage does not sell any products or services – it’s just a membership-based pyramid scheme with anonymous benefactors who placed themselves at the top. All of this makes Forsage an illegal scam.
So be Careful while dealing with the platform because if the platform are unable to bring me user's it will crashed.
Its simple math that it will eventually stop paying.
Most of the money will be made at the top of the pyramid, from the owners, the owners friends and the big recruiters that are experienced in promoting these lame ponzi scams to gain large amounts of Ethereum. Meanwhile, the people at the bottom and most people who join will be left holding the empty bag and receive little to no payout and lose their money.
Don’t be gullible, save your Ethereum, and do not join this Forsage scam.
You can also follow my Whatapp TV @StephenAdeTV for More Fact & Interesting Article
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