No seriously the dev is from the netherlands, and this coin started to look a lot more interesting when the dev posted this email he claimed to receive from some guys in Dubai calling themselves the Dubai Crypto Group saying they would invest in the coin but only if the value increased above a 10 satoshi threshold. I googled "Dubai Crypto Group" and found this : http://www.localsearch.ae/en/profile/The-Crypto-Group-FZ-LLC/727380

To me it seemed like there was a chance for the coin and I offered to spend like a week setting up an exchange and I converted all my BTC to the coin trying to buy up as much of the excess coinage as I could. I figured if I got the deal with the exchange for 140m LFTC and the dubai guys were serious those coins could be worth more than 10 sats each quite soon and I'd have like 1.4 BTC worth of value for my efforts. Considering that when I freelance doing web development for companies I charge £150 a day = 0.74 BTC, I was only asking for like 2 days worth of payment for what I reckon would be about a week or mores worth of effort, and I was willing to accept payment in a coin which might not actually be worth anything at all.

Then the dev goes and says he has evidence the Dubai Crypto Group is bogus and the email came from an IP in amsterdam, and also that he has found someone else to do the work and I'm like FUCK IT, this coin is shit!

Without the dubai guys involved, the value is going nowhere, and even if it does the devs plan is to release the entire premine in the form of loans to people who will dump to the exchange and destroy any value the coin builds up on the promise of buying more coins later to repay their loans. It's not going to work, because when they dump their loans they will be able to buy back the LFTC for peanuts to repay and whatever value they attain is going to come directly from anyone who has bought into this coin with real money or BTC.

I sold all my coins off and I recommend anyone looking at this to steer clear of this trainwreck.

AtariCM

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