The algo was announced incorrectly but it didn't matter because the only method of mining was CPU mining through the console where the user does not need to know the algo. It was a fair launch because it allowed people without big GPU and ASICs rigs to get a share of the coins before pools came online. If the coin was relaunched the pools would be available right away and us small miners would get nothing.

if he relaunches do we lose our coins?

I sure hope not, that would be a very poor decision IMO. The launch was fine, he just needs to fix the bug that is causing the stuck chain.

Go into your debug console and type "clearbanned".  The network continually bans nodes, this will restore them after a minute or two.

I don't see this as being scrypt.  My cpu mines this coin at 1.6MHs, which isn't scrypt...this is a sha256 cpu pace.  Both scrypt and sha256 are available in the source, I haven't dug far enough to know what's really going on, but it isn't scrypt.

Pools are rejecting because of incorrect nBits, error 500 in yiimp.

Unfortunately the dev has a few fundamental problems on this launch.  Let's see how it goes....

cool project!

Please give me link for downloading mining tool to mine Futurocoin.