The most popular Ethereum Dapp “Forsage” in the world. Scam or Legit Ethereum MLM?
You may have heard about the most popular Ethereum Dapp in the world being deemed an unregistered security by the Phillipines SEC. You also may have seen other bad reviews like this one from Jesse Singh over at Jessesingh.org
“Forsage Review – (2020) Legit Etherium MLM or Huge Scam?”
He goes into some great detail about how the lack of transparency in leadership. Which is an understandable concern if it were accurate. And he at one point says “Judging by the Russian language translation on the website, it could be possible from there” In regards to whom it is that runs the website because all website have an admin.
The interesting thing about him saying these kinds of things is that the website also has a Disclaimer Page that can be found >here< That clearly states “The Forsage Community holds the right to review conditions and terms on the website by updating them. Any such updates cover users.” Which acknowledges an inherent website admin.
The founder and creator of Forsage, Lado Okhotnikov, was interviewed 9+ months ago. I am, going to share that below.
People that do their research want to protect their time and their money. I 100% can appreciate due diligence.
When you are looking for opportunities online, it is important that you protect your time and is worth your efforts. If you are spending your time and money on an opportunity, you must ensure that it is legit. Sometimes marketing shysters will label their scam as a legitimate MLM (multi-level marketing) or affiliate program just to get more people to sign up and make a quick buck. But the economy changed drastically for the better when cryptocurrencies came along. Traditional investments are boring and take forever to see results. A simple Google search reveals testimony after testimony from all around the globe of people who have chosen the cryptomarket as a place where they can achieve financial independence. It is a one-of-a-kind chance at success like no other game in town.
“Blockchain does not store any of its information in a central location. Instead, the blockchain is copied and spread across a network of computers. Whenever a new block is added to the blockchain, every computer on the network updates its blockchain to reflect the change.”
Take for instance the Philippines SEC deeming Forsage as an unregistered security. A government, who issues its own currency, has laws in place to protect the way that centralized money cycles. This project is decentralized.
The SEC= An Entity of a Government
Of course, a Securities and Exchange Commission would not be inclined to support a project just yet. But the part that I infer from the SEC’s response to the founders is that it seems to recognize some value in blockchain technologies, even if those are not Ethereum itself. By acknowledging and identifying what distributed ledger technology can do, and by actively looking for solutions, the SEC may well be preparing an eventual official blessing for the technology as it progresses. In other words, it’s a slow rollout approach to acceptance because there is no specific protocol in place yet for registering all securities once the code was dispersed, it became part of the decentralized ethereum blockchain.
So all of that to come to this point. If you follow the accusation of Forsage being deemed anything by the Philippines SEC its end, you will find this sec.gov.ph/forsage
The full link looks like this
Learn more about Ponzi Scheme
That link was found as a result of going down a rabbit hole from the Etherscan site that brought me to Decrypt.co which claims it is a Ponzi scheme. (Learn more about Ponzi Scheme) And then to the Philippines SEC website that says the page you are looking for can not be found…
Watch My video where I read the Forsage Disclaimer.
Forsage has been on the market for almost one year. The company has been active for the same amount of time and is still around. What makes it so special? First of all, this company offers a unique product with an actual utility to Etherum users. Second, it provides constant support to its clients, often inviting its users to join their lively channels and informing them about the latest developments and progress. Finally, it works towards becoming an international company that is worth being invested in.
Want to go into more depth with Forsage? Drop me a comment asking for more info, or click here
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Profit Disclaimer – “No one can guarantee you’ll make money. Anyone who promises you a guaranteed return or profit is likely a scammer. All results depend on personal skillset and personal effort”
Forsage has been around for long. But that’s doesn’t make it safer to deal in cryptos any-which-way. I guess we need to tread carefully as volatility is unbelievably high.
That said, I do believe that money can be made in the crypto space. After all, blockchain technology is here to stay. And till when will governments be able to keep putting restrictions on free currency.
The days of fiat are really close to being over. The Indian Government has announced that it will go in for a digital currency very soon, which will be government controlled.
Treading carefully when it comes to crypto is most definitely a good idea. And not every single project is going to be a good one for everyone.
I know for me personally, I think that in all markets there is risk
Sometimes the idea of “higher the risks higher the rewards” rings true.
But the most important lesson I have learned when it comes to markets is, don’t bet money you can’t loose.