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Title: Factoid - The Software Token For The Factom Network Post by: FACTOM on March 17, 2015, 05:33:34 AM https://i.imgur.com/Ox4shXr.png (http://factom.org) INTRODUCING HONESTY TO RECORD KEEPING
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https://i.imgur.com/wKwuMTQ.png (http://factom.us9.list-manage.com/subscribe/post?u=30ef620b083ec2bf07eef89b9&id=11fd088719) https://i.imgur.com/PWUsHU7.gif (http://factom.org) FACTOM.ORG (http://factom.org) Title: Re: [ANN] Factoid - The Software Token For The Factom Network Post by: Shadow_Runner on March 17, 2015, 05:33:54 AM Is it alt.coin?
Title: Re: [ANN] Factoid - The Software Token For The Factom Network Post by: FACTOM on March 17, 2015, 05:38:05 AM Is it alt.coin? It's a token that grants you access to the Factom Software and Network. Title: Re: [ANN] Factoid - The Software Token For The Factom Network Post by: sologap on March 17, 2015, 05:51:16 AM Title: Re: [ANN] Factoid - The Software Token For The Factom Network Post by: FACTOM on March 17, 2015, 06:16:36 AM There is no mining on the Factom Network, we will host a Factoid Software Sale via Koinify starting from March 31st and yes if you share your computing power and resources on the network you will be able to earn Factoids. Title: Re: [ANN] Factoid - The Software Token For The Factom Network Post by: Joerii on March 17, 2015, 08:59:34 AM I'm working as a community leader and video artist for Factom and I must say it's the most professional team I've ever worked with in this space.
A very exciting month is ahead. Title: Re: [ANN] Factoid - The Software Token For The Factom Network Post by: gjhiggins on March 17, 2015, 11:42:07 AM The factom.org team page references a “Chairman of the Board”, implying that there is a registered legal entity behind the scenes. Is that the case? if so, could you indicate the country of registration and the registration id?
TIA Cheers Graham Title: Re: [ANN] Factoid - The Software Token For The Factom Network Post by: TomKoinify on March 17, 2015, 07:26:10 PM As stated in the OP, we will be hosting Factom's upcoming software sale. We are free and open to answering or discussing any questions, comments or concerns from Koinify's end.
Title: Re: [ANN] Factoid - The Software Token For The Factom Network Post by: rich93 on March 17, 2015, 07:30:30 PM I'm sure I have heard of similar systems already running. What's different about Factoid?
Title: Re: [ANN] Factoid - The Software Token For The Factom Network Post by: chocobo on March 17, 2015, 08:57:32 PM So is the software sale an ICO for the tokens?
Title: Re: [ANN] Factoid - The Software Token For The Factom Network Post by: djohnston on March 17, 2015, 10:27:24 PM "The factom.org team page references a “Chairman of the Board”, implying that there is a registered legal entity behind the scenes. Is that the case? if so, could you indicate the country of registration and the registration id?"
TIA Cheers Graham _________________________________ Graham, Thanks for the question. Factom is going to be making an announcement before the software sale about the jurisdiction it has selected for the non profit Factom Foundation's incorporation. In short, the team has evaluated jurisdictions around the world that are progressive about new financial technologies and talked with experts about the selection. Title: Re: [ANN] Factoid - The Software Token For The Factom Network Post by: FACTOM on March 19, 2015, 10:56:25 PM Is Factom going to have a staged token sale like Gems did? Gems was 17250=1 bitcoin on first day and 10000= 1 bitcoin on last day. Is Factom going to be similar? More details will be available before the beginning of the sale. Stay tuned. :) Title: Re: [ANN] Factoid - The Software Token For The Factom Network Post by: FACTOM on March 27, 2015, 02:33:58 AM I am very excited for the sale. I have cashed out all my altcoins in anticipation! We thank you for the support. :) Title: Re: [ANN] Factoid - The Software Token For The Factom Network Post by: FACTOM on March 27, 2015, 02:51:55 AM https://i.imgur.com/eLl6WMh.png We are pleased to announce a collaboration between Vaultoro (https://www.vaultoro.com) + Factom (http://factom.org). Read the details on our blog (http://blog.factom.org/post/114580611035/vaultoro-factom-announce-collaboration). We have hosted a Hangout with the founders of both teams which you can watch below. https://i.imgur.com/AodTRSw.png (https://youtu.be/ieN2FqNhrrY) Title: Re: [ANN] Factoid - The Software Token For The Factom Network Post by: Fielding on March 27, 2015, 03:11:18 AM it's a nice Project.
Title: Re: [ANN] Factoid - The Software Token For The Factom Network Post by: zrunfeng on March 27, 2015, 03:11:35 AM i would like to take part in the project
Title: Re: [ANN] Factoid - The Software Token For The Factom Network Post by: FACTOM on March 27, 2015, 03:44:33 AM Our project page on Koinify is now live for more info. koinify.com/#/project/FACTOM (https://koinify.com/#/project/FACTOM) Title: Re: [ANN] Factoid - The Software Token For The Factom Network Post by: zrunfeng on March 27, 2015, 04:29:36 AM i wonder how many btc would the project gets?
Title: Re: [ANN] Factoid - The Software Token For The Factom Network Post by: FACTOM on March 28, 2015, 12:53:32 AM We are pleased to announce a collaboration between Rivetz (https://www.rivetz.com) + Factom (http://factom.org). Read the details on our blog (http://blog.factom.org/post/114716837159/rivetz-factom-announce-collaboration). https://i.imgur.com/Eto1qPu.png Title: Re: [ANN] Factoid - The Software Token For The Factom Network Post by: Joerii on March 28, 2015, 11:09:04 AM https://i.imgur.com/eLl6WMh.png We are pleased to announce a collaboration between Vaultoro (https://www.vaultoro.com) + Factom (http://factom.org). Read the details on our blog (http://blog.factom.org/post/114580611035/vaultoro-factom-announce-collaboration). We have hosted a Hangout with the founders of both teams which you can watch below. https://i.imgur.com/AodTRSw.png (https://youtu.be/ieN2FqNhrrY) This is really cool. I use Vaultoro, it's a great way to protect your capital from taking a plunge when bitcoin drops in value. Title: Re: [ANN] Factoid - The Software Token For The Factom Network Post by: FACTOM on March 29, 2015, 07:32:26 PM less than 48 hours till the factoids sale starts! I expect this to crush Gems numbers in the first 48 hours! Thank you for the support. We are looking forward for the sale to begin. :) Title: Re: [ANN] Factoid - The Software Token For The Factom Network Post by: FACTOM on March 29, 2015, 09:01:55 PM tried signing up, but nothing happens after pressing the sign up button on the registration page>? It will be live when the sale starts or a bit earlier. Koinify is at work on the page. Title: Re: [ANN] Factoid - The Software Token For The Factom Network Post by: entertainment on March 31, 2015, 12:35:20 PM How many coins are on sale and what is the price? How much are you looking to raise? There is not limit. Investors will decide the marketcap. Each btc = 2000 factoids. http://forobits.com/uploads/default/_optimized/44b/6b7/0d22855c96_689x90.png And they are going to dump the Bitcoins they get. Title: Re: [ANN] Factoid - The Software Token For The Factom Network Post by: djohnston on March 31, 2015, 02:49:46 PM Its had been asked earlier in the thread which jurisdiction the Factom Foundation is based.
I can now share that London is that jurisdiction. You will see this confirmed in the Product Purchase and Terms Agreements for the software sale which will go live in about 10 minutes. The Factom team spent significant time evaluating which jurisdiction would be best and ultimately London proved to be the most friendly and clear in terms of their approach to the sale of software for the purposes of Factom. Its good to see such a well established center for commerce being open to our community. Title: Re: [ANN] Factoid - The Software Token For The Factom Network Post by: TomKoinify on March 31, 2015, 02:51:29 PM https://pbs.twimg.com/media/CBarBNfUkAAs_yj.png The Factom Software Sale is now currently running LIVE on Koinify. https://koinify.com/#/project/FACTOM Title: Re: [ANN] Factoid - The Software Token For The Factom Network Post by: djohnston on March 31, 2015, 03:45:40 PM On the question of the asset allocation strategy this was developed after looking at past events where value came into the software sale, but because of a swing in the price the project ended up with less buying power than they originally collected.
In order to avoid this issue with the Factoid Software Sale it was clear that the value collected should be hedged and diversified. This is part of why we engaged experts in this field and built a lot of options for when it comes to preserving the value contributed to the Factom Foundation. Title: Re: [ANN] Factoid - The Software Token For The Factom Network Post by: FACTOM on March 31, 2015, 04:55:30 PM We are pleased to announce a collaboration between ShapeShift (https://www.shapeshift.io) + Factom (http://factom.org). Read the details on our blog (http://blog.factom.org/post/115064881139/shapeshift-factom-announce-collaboration). https://i.imgur.com/fKDZlUA.png Title: Re: [ANN] Factoid - The Software Token For The Factom Network Post by: chocobo on March 31, 2015, 05:05:51 PM So the devs get 30% of the coin and obviously the whole IPO. Stupid.
Title: Re: [ANN] Factoid - The Software Token For The Factom Network Post by: chocobo on March 31, 2015, 05:09:01 PM Also how many community leaders and advisors do you need? Look at this http://factom.org/team
Title: Re: [ANN] Factoid - The Software Token For The Factom Network Post by: AlanX on March 31, 2015, 05:42:26 PM The Factom Software Sale can be found here:
https://koinify.com/#/project/FACTOM Title: Re: [SOFTWARE SALE LIVE] Factoid - The Software Token For The Factom Post by: kondiomir on March 31, 2015, 05:53:42 PM No mining phase ? No fun! :(
Title: Re: [ANN] Factoid - The Software Token For The Factom Network Post by: FACTOM on March 31, 2015, 05:55:26 PM Also how many community leaders and advisors do you need? Look at this http://factom.org/team They are helping us in different parts of the world. The world is big ;) Title: Re: [SOFTWARE SALE LIVE] Factoid - The Software Token For The Factom Post by: AhmedAshraf on March 31, 2015, 05:58:41 PM Pm'd and emailed you ;)
Title: Re: [ANN] Factoid - The Software Token For The Factom Network Post by: chocobo on March 31, 2015, 06:54:45 PM Also how many community leaders and advisors do you need? Look at this http://factom.org/team They are helping us in different parts of the world. The world is big ;) What justifies the devs getting 30% of the coin in addition to the IPO? Title: Re: [ANN] Factoid - The Software Token For The Factom Network Post by: fordlincoln on March 31, 2015, 07:08:07 PM They are helping us in different parts of the world. The world is big ;) [/quote] What justifies the devs getting 30% of the coin in addition to the IPO? [/quote] idk scam same as ripple but send btc because of hype like i sent. [/quote] Uh. NO Ripple didn't even accept BTC and they also didn't have a token sale. Factom actually has code! It's not hype so don't know where you got the idea from. Title: Re: [SOFTWARE SALE LIVE] Factoid - The Software Token For The Factom Post by: TomKoinify on March 31, 2015, 08:17:30 PM Sale is currently at 238 BTC!
Title: Re: [SOFTWARE SALE LIVE] Factoid - The Software Token For The Factom Post by: PaulSnow on March 31, 2015, 08:28:48 PM Crowd Sale is now active!
Title: Re: [SOFTWARE SALE LIVE] Factoid - The Software Token For The Factom Post by: FACTOM on March 31, 2015, 09:19:07 PM Referral Rewards Want Factoids? Factom is sending out rewards to the community, get 5% of all your Factoid referrals for the Factoid Software Sale. Note - There is a 5% factoid reward on all referrals! More info on our Blog (http://blog.factom.org/post/115139137794/the-factoid-software-sale-is-live) Title: Re: [SOFTWARE SALE LIVE] Factoid - The Software Token For The Factom Post by: djohnston on March 31, 2015, 10:08:25 PM On the topic of the different Factoid pools, its fair to reward those that add their efforts to building a project, not just money contributed but also the time and energy of the team that makes it possible.
The important differences between Factom's token pools and those that have come before is: #1. The bitcoin that is contributed during the software sale is locked by third party evaluators until milestones are reached. Meaning if the Factom Foundation doesn't deliver the code described in the milestones it doesn't get a dime. #2. The Factoids rewarded in the genesis block are not the only ones that will ever exist. Most of the Factoids over time go to the parties that are ultimately creating the most value, that is the federated servers doing the auditing. So if you look at the Future Issuance bar graphs on this page: https://koinify.com/#/project/FACTOM After only 5 years the Federated Servers have been rewarded as many Factoids as the main software sale pool. After 10 years the Federated Servers have been rewarded as many Factoids as all the other pools combined. Meaning regardless of if the balance the team decided on was right or not, when it comes to the pools and who it is rewarding, the effect will drop over time to almost nothing on a long time scale compared to the main reward of the Factoids to the Federated servers auditing. This is very similar to the Ethereum model of issuing a fixed number of Factoid rewards (as a percentage of the software sale total Factoids) every year to the Federated Servers. Title: Re: [SOFTWARE SALE LIVE] Factoid - The Software Token For The Factom Post by: BlackShibe1 on March 31, 2015, 10:43:26 PM Great day
But i prefer to buy Nem ! https://bitcointalk.org/index.php?topic=654845.0 Title: Re: [SOFTWARE SALE LIVE] Factoid - The Software Token For The Factom Post by: chesthing on March 31, 2015, 11:56:58 PM How are we going to be able to trade factoms - will they be on crypto exchanges?
Title: Re: [SOFTWARE SALE LIVE] Factoid - The Software Token For The Factom Post by: TomKoinify on April 01, 2015, 04:14:14 AM The sale passes the 12 hours mark with 320 BTC under its belt. Thanks for all the support so far for those who are participating.
Title: Re: [SOFTWARE SALE LIVE] Factoid - The Software Token For The Factom Post by: hector3115 on April 01, 2015, 10:55:34 AM S I have a few questions. How many factoids will there be at the end of the sale? What will the cost be for users of this service and who will set the cost? What are possible market caps for a service like this?
Title: Re: [SOFTWARE SALE LIVE] Factoid - The Software Token For The Factom Post by: chesthing on April 01, 2015, 03:58:45 PM S I have a few questions. How many factoids will there be at the end of the sale? What will the cost be for users of this service and who will set the cost? What are possible market caps for a service like this? There is no limit, they will sell as many as people buy. To make matters worse they will create new factoms after the ico to meet demand. I don't know what I'm missing here, but this looks like an extremely high risk buy. Title: Re: [SOFTWARE SALE LIVE] Factoid - The Software Token For The Factom Post by: djohnston on April 01, 2015, 06:13:45 PM Just to be clear it is the decentralized network that creates Factoids over time as a reward for the Federated Server that do all the auditing / publishing of the hashes that users add to the network.
The rate of new Factoids is set a 10% of all the Factoids that are created in the genesis block. So over a period of 10 years the Federated Servers will have been paid out as many Factoids as were initially created in the genesis block. Which makes sense given they are the entities sustaining the function of the network over time. It is important to understand that these new Factoids are non compounding in the sense that the 10% of the genesis block is static, meaning its not 10% of all tokens each year. Thus the percentage of new tokens declines year over year. For example if 1,000,000 Factoids are created in the genesis block than 100,000 would given out each year to the federated servers for their work to sustain the network. Thus at year ten 2,000,000 Factoid would exist. So in year 11 the rate of new Factoids is only 5% and declines from there. This is modeled after Bitcoin in that the rate is control by the Federated Servers and nodes that are running the Factoid client software. Title: Re: [SOFTWARE SALE LIVE] Factoid - The Software Token For The Factom Post by: djohnston on April 01, 2015, 06:26:22 PM To answer these questions: "How many factoids will there be at the end of the sale?"
This will be determined by the market based on the number of Factoids purchased in the software sale. See my comment for some details directly above. The Koinify website also has good graphs on this topic. Here: https://koinify.com/#/project/FACTOM What will the cost be for users of this service and who will set the cost? The end users will buy entry credits into the Factom ledger at an estimated rate of about a 1 tenth of a penny. These entry credits are converted from Factoids and assigned to a public address for the user. What are possible market caps for a service like this? Market cap has to be determined by the market. The root question you are getting at is what level of usage will drive meaningful adoption. You can see from the use case videos that a pretty wide range of companies are looking at the technology. The video are here on the Factom Koinify profile: https://koinify.com/#/project/FACTOM Title: Re: [SOFTWARE SALE LIVE] Factoid - The Software Token For The Factom Post by: djohnston on April 01, 2015, 06:29:39 PM To answer the question:
How are we going to be able to trade Factoids - will they be on crypto exchanges? Shape Shift has already announced their plan to integrate Factoids after May 15th when the software sale is complete. Title: Re: [SOFTWARE SALE LIVE] Factoid - The Software Token For The Factom Post by: lakepopo on April 01, 2015, 06:58:43 PM they at 665 BTC now. first project to some around in a long time with working code before they sell. i gave them 10 BTC and see potential in the team. ;D ;D
Title: Re: [SOFTWARE SALE LIVE] Factoid - The Software Token For The Factom Post by: chesthing on April 01, 2015, 07:19:29 PM To answer the question: How are we going to be able to trade Factoids - will they be on crypto exchanges? Shape Shift has already announced their plan to integrate Factoids after May 15th when the software sale is complete. Shape shift is just a way to convert currencies not a trading exchange. What will determine the value of a factoid? The way I understand this is you want to keep the price of a entry credit to 1/10 of a penny and will create new factoids to keep this price at this level, so how will increased adoption increase the value of a factoid? Thanks for your patience, I really want to understand this. Title: Re: [SOFTWARE SALE LIVE] Factoid - The Software Token For The Factom Post by: lakepopo on April 01, 2015, 07:39:41 PM To answer the question: How are we going to be able to trade Factoids - will they be on crypto exchanges? Shape Shift has already announced their plan to integrate Factoids after May 15th when the software sale is complete. Shape shift is just a way to convert currencies not a trading exchange. What will determine the value of a factoid? The way I understand this is you want to keep the price of a entry credit to 1/10 of a penny and will create new factoids to keep this price at this level, so how will increased adoption increase the value of a factoid? Thanks for your patience, I really want to understand this. yes, any exchange plans? Title: Re: [SOFTWARE SALE LIVE] Factoid - The Software Token For The Factom Post by: djohnston on April 01, 2015, 10:19:38 PM To answer the question:
How are we going to be able to trade Factoids - will they be on crypto exchanges? Shape Shift has already announced their plan to integrate Factoids after May 15th when the software sale is complete. ___________________________________ Shape shift is just a way to convert currencies not a trading exchange. What will determine the value of a factoid? The way I understand this is you want to keep the price of a entry credit to 1/10 of a penny and will create new factoids to keep this price at this level, so how will increased adoption increase the value of a factoid? Thanks for your patience, I really want to understand this." ___________________________________ Thanks for the note. I'm happy to talk through the details. You make a good point, Shape Shift is a good way of convert tokens but doesn't itself have an order book and thus isn't an oracle for a price. I expect a number of exchanges will make the necessary integration with Factom to support the trading of Factoids. I'll wait to name, names until they much public statements. The Federated Servers will determine the conversion rate of Factoids to Entry Credits, however yes the number that we putting out there as an example is a tenth of a penny for entries. To be clear there will not be any "new Factoids" created for the purpose of maintaining or locking this price or ratio. The new Factoids that are created in the system go to the elected Federated Servers for the purpose of rewarding them for auditing and publishing of the hashes. So think of it this way the Factoids are traded on the market at a dynamic price. The Federated Servers will react to this price change by increasing or decreasing the conversion rate of Factoids to Entry credits between the upper band of being cheap enough to attract users, but expensive enough to prevent spam. Title: Re: [SOFTWARE SALE LIVE] Factoid - The Software Token For The Factom Post by: chesthing on April 01, 2015, 10:36:13 PM How would you best describe factom compared to current cryptocurrencies - what is it most similar to? how difficult would it be for current exchanges to implement it?
Title: Re: [SOFTWARE SALE LIVE] Factoid - The Software Token For The Factom Post by: TomKoinify on April 01, 2015, 10:36:28 PM Update: 725 BTC has been raised in under 48 hours.
You can check https://twitter.com/factom_sale for a live feed of the sales! Title: Re: [SOFTWARE SALE LIVE] Factoid - The Software Token For The Factom Post by: FACTOM on April 01, 2015, 10:47:49 PM Update: 725 BTC has been raised in under 48 hours. You can check https://twitter.com/factom_sale for a live feed of the sales! That is good going, we are thrilled with the support received so far. A big thank you to everyone who has contributed so far. :) Title: Re: [SOFTWARE SALE LIVE] Factoid - The Software Token For The Factom Post by: pinkman12345 on April 01, 2015, 11:57:47 PM I've just brought 1000 factoids on koinify. Do i have to send them to a wallet or something? or just wait for an exchange to store them on. I just want to hold onto them for a few years.
Thanks Title: Re: [SOFTWARE SALE LIVE] Factoid - The Software Token For The Factom Post by: TomKoinify on April 02, 2015, 12:33:12 AM I've just brought 1000 factoids on koinify. Do i have to send them to a wallet or something? or just wait for an exchange to store them on. I just want to hold onto them for a few years. Thanks Your Factoids will be locked in your Koinify wallet until May 15th, then you will be able to withdrawal and send wherever supports them. Title: Re: [SOFTWARE SALE LIVE] Factoid - The Software Token For The Factom Post by: FACTOM on April 02, 2015, 04:17:36 PM https://i.imgur.com/OPXiiKp.png We have sold over 1,600,000 Factoids in just 48 Hours. A massive thank you to our community and supporters. Head over to Koinify to get yours before the rate change in 5 days. https://koinify.com/#/project/FACTOM (https://koinify.com/#/project/FACTOM) Title: Re: [SOFTWARE SALE LIVE] Factoid - The Software Token For The Factom Post by: djohnston on April 02, 2015, 05:52:46 PM How would you best describe factom compared to current cryptocurrencies - what is it most similar to? how difficult would it be for current exchanges to implement it? Thanks for the question. Factom isn't very similar to existing cryptocurrencies as its main function is not to act as a payment network or currency, but rather as a decentralized platform for publishing and reading generalized data from an immutable ledger. If I were to pick any project I'd say Side Chains is a good analogy (though very different in function). Where Side Chains is a means of moving value (in the form of coins) from one blockchain to another, Factom is a means of securing / time stamping data that has been hashed and anchoring it into the bitcoin blockchain. With the ability to trace back that merkle root into the Factom directory layer and audit the hashes that have been published. So perhaps one could say Factom is to data what Side Chains is to coins. That is a means of scaling the blockchain in that particular function. It not a perfect analogy, but I hope that answers your question. Title: Re: [SOFTWARE SALE LIVE] Factoid - The Software Token For The Factom Post by: chesthing on April 02, 2015, 08:13:09 PM How would you best describe factom compared to current cryptocurrencies - what is it most similar to? how difficult would it be for current exchanges to implement it? Thanks for the question. Factom isn't very similar to existing cryptocurrencies as its main function is not to act as a payment network or currency, but rather as a decentralized platform for publishing and reading generalized data from an immutable ledger. If I were to pick any project I'd say Side Chains is a good analogy (though very different in function). Where Side Chains is a means of moving value (in the form of coins) from one blockchain to another, Factom is a means of securing / time stamping data that has been hashed and anchoring it into the bitcoin blockchain. With the ability to trace back that merkle root into the Factom directory layer and audit the hashes that have been published. So perhaps one could say Factom is to data what Side Chains is to coins. That is a means of scaling the blockchain in that particular function. It not a perfect analogy, but I hope that answers your question. Why did you decide to accept bitcoin rather than fiat for this ipo? Why are you holding an ipo, isn't this already developed? you could have simply started selling factoids to end users. Title: Re: [SOFTWARE SALE LIVE] Factoid - The Software Token For The Factom Post by: djohnston on April 02, 2015, 08:50:27 PM How would you best describe factom compared to current cryptocurrencies - what is it most similar to? how difficult would it be for current exchanges to implement it? Thanks for the question. Factom isn't very similar to existing cryptocurrencies as its main function is not to act as a payment network or currency, but rather as a decentralized platform for publishing and reading generalized data from an immutable ledger. If I were to pick any project I'd say Side Chains is a good analogy (though very different in function). Where Side Chains is a means of moving value (in the form of coins) from one blockchain to another, Factom is a means of securing / time stamping data that has been hashed and anchoring it into the bitcoin blockchain. With the ability to trace back that merkle root into the Factom directory layer and audit the hashes that have been published. So perhaps one could say Factom is to data what Side Chains is to coins. That is a means of scaling the blockchain in that particular function. It not a perfect analogy, but I hope that answers your question. Why did you decide to accept bitcoin rather than fiat for this ipo? Why are you holding an ipo, isn't this already developed? you could have simply started selling factoids to end users. Thanks for the questions. Firstly the software sale is using bitcoin because it is a non reversible type of payment. If one were to accept a reversible type of payment for a non reversible application specific digital token, then one would encounter a fraud problem. A fraudulent buyers would send funds (from a credit card for example) the buyer receives the digital token and then simply calls up his credit card company to reverse the charge on this card. The seller of the applications specific digital token has no way to reverse the send, so the fraudulent buyer walks away with the digital token, but the seller has kept no value. The Factom protocol and clients have been developed to the Alpha stage and the Beta will be released after the software sale post May 15th. As part of releasing the Beta and the Factoid chain capabilities requires there to be an number of tokens created in the genesis block at the launch, because the reward in the Federated server system is a multiplied by the number of tokens in the genesis block (10% of all tokens in the Genesis block). Its worth understanding that if the Factom Foundation or some central entity had been the one selling Factoids that it effectively becomes a gate keeper in the system. Factom is designed to have no gate keepers so a centralized issuer was not an option. Title: Re: [SOFTWARE SALE LIVE] Factoid - The Software Token For The Factom Post by: FACTOM on April 04, 2015, 10:24:54 AM https://i.imgur.com/lSTifeC.png If you haven’t already head over to Koinify before the rate goes -100 Factoids: https://koinify.com/#/project/FACTOM Title: Re: [SOFTWARE SALE LIVE] Factoid - The Software Token For The Factom Post by: FACTOM on April 04, 2015, 10:30:26 PM https://i.imgur.com/5lYZbco.png We have raised $250,000 in the first 4 days of our Software Sale! A MASSIVE THANK YOU to our supporters! Get your Factoids now if you haven't already before the rate change in 2 days: https://koinify.com/#/project/FACTOM Title: Re: [SOFTWARE SALE LIVE] Factoid - The Software Token For The Factom Post by: FACTOM on April 04, 2015, 10:39:27 PM More than a month left and already over 1,967,554 sold How will we make any money if everyone buys the IPO but doesnt buy after the ipo ends? If more people buy the ipo will our Factoid be worth more or will it be worth less? Please tell me Also i have another question I have 7000 factoid. Can you tell me how much they will be worth after 1 year of holding? Will they be worth 70 btc? .01 btc per factoid? or ill they be worth $70,000? $10 per factoid? also what will the use for factoid be? people use them as a currency or do they use them as a currency in addition to something else? also will it be like bitshares and nxt and nem? or will it be like madesafecoin and storjcoinx i think if you combine all the features of all of those coins in addition to the features of factiod/factom, into factiod then i could be a rich man. thanks Factoids are going to be consumed once they get converted into entry credits. So the ones sold in the sale will eventually be used. Unless, of course, some may keep them for speculative reasons. However 10% per year will be created as rewards to Factom nodes and federated servers that help the network with their computing power. More details are on the Koinify page and on the FACTOM INFORMATIONAL REPORT BY THE DAPPS FUND (https://docs.google.com/a/factom.org/document/d/13OGeccgkeALu6tZQkh2KJOuJQaLq4JguZt6cF5tpYAA/edit). Also check out this video we have just released to help explain how Factom works and what are Factoids for. How Does Factom Blockchain Technology Work? (https://youtu.be/MlzyI1bfyD4) Title: Re: [SOFTWARE SALE LIVE] Factoid - The Software Token For The Factom Post by: FACTOM on April 05, 2015, 11:02:09 PM https://i.imgur.com/SEcMZiZ.png HAPPY EASTER EVERYONE! Get your Factoids now if you haven't already before the rate change in 1 days: https://koinify.com/#/project/FACTOM Title: Re: [SOFTWARE SALE LIVE] Factoid - The Software Token For The Factom Post by: djohnston on April 06, 2015, 11:57:25 PM More than a month left and already over 1,967,554 sold How will we make any money if everyone buys the IPO but doesnt buy after the ipo ends? If more people buy the ipo will our Factoid be worth more or will it be worth less? Please tell me Also i have another question I have 7000 factoid. Can you tell me how much they will be worth after 1 year of holding? Will they be worth 70 btc? .01 btc per factoid? or ill they be worth $70,000? $10 per factoid? also what will the use for factoid be? people use them as a currency or do they use them as a currency in addition to something else? also will it be like bitshares and nxt and nem? or will it be like madesafecoin and storjcoinx i think if you combine all the features of all of those coins in addition to the features of factiod/factom, into factiod then i could be a rich man. thanks Thanks for the questions. First, the demand for the Factoids / Entry credits will be driven by demand in the market based on those seeking to use the capabilities of the platform. Second, the Factom team can't make an predictions or set any expectations about the future price of Factoids as this is entirely determined by the open market. Third, its worth reading the whitepaper on http://factom.org/ to understand the how Factoids function. Here is a useful video on the topic: https://youtu.be/MlzyI1bfyD4 In short the primary function of a Factoid is to convert into entry credits which are used in the Factom system to make entries into the blockchain secured Factom ledger. Basically publishing the hash of a larger data file in a way that is immutable, time stamped and decentralized. This is helpful for auditing and other business processes. I recommend checking out the Use Case videos on the Factom website. Title: Re: [SOFTWARE SALE LIVE] Factoid - The Software Token For The Factom Post by: FACTOM on April 07, 2015, 01:27:24 AM Title: Re: [SOFTWARE SALE LIVE] Factoid - The Software Token For The Factom Post by: FACTOM on April 07, 2015, 02:31:24 AM We are thrilled to announce that Jocob Dienelt, a veteran at Morgan Stanley, has left to join the Factom Foundation.
He has joined the team as a Treasurer. This was pretty big news so it was covered by a few media outlets today. Bitcoin technology startup hires Morgan Stanley manager http://www.reuters.com/article/2015/04/06/morgan-stanley-factom-idUSL2N0X31H020150406 Bitcoin technology startup hires Morgan Stanley manager http://www.businessinsider.com/r-bitcoin-technology-startup-hires-morgan-stanley-manager-2015-4?IR=T Morgan Stanley Veteran Joins Bitcoin 2.0 http://finance.boston.com/boston/news/read/29607960/morgan_stanley_veteran_joins_bitcoin_2.0 Morgan Stanley Veteran Jacob Dienelt Joins Bitcoin 2.0 Startup https://bitcoinmagazine.com/19889/morgan-stanley-veteran-dienelt-joins-bitcoin-2-0-startup/ Blockchain Tech Startup Hires Morgan Stanley Advisor http://www.americanbanker.com/news/bank-technology/blockchain-tech-startup-hires-morgan-stanley-advisor-1073621-1.html Bitcoin technology startup hires Morgan Stanley manager https://au.news.yahoo.com/technology/a/26996206/bitcoin-technology-startup-hires-morgan-stanley-manager/ Bitcoin technology startup hires Morgan Stanley manager http://zeenews.india.com/business/news/technology/bitcoin-technology-startup-hires-morgan-stanley-manager_122818.html Factom Hires Morgan Stanley Veteran as Crowdsale 2nd Week Nears 2.9 Million BTC http://allcoinsnews.com/2015/04/07/factom-hires-morgan-stanley-veteran-as-crowdsale-2nd-week-hits-325000/ Wall Street Veteran, Former Nike CIO Join Bitcoin Startups http://cointelegraph.com/news/113894/wall-street-veteran-former-nike-cio-join-bitcoin-startups Bitcoin technology startup hires Morgan Stanley manager http://ca.reuters.com/article/technologyNews/idCAKBN0MX1EB20150406 Morgan Stanley Veteran Joins Bitcoin 2.0 http://www.marketwatch.com/story/morgan-stanley-veteran-joins-bitcoin-20-2015-04-06 Morgan Stanley Veteran Joins Bitcoin 2.0 https://secure.globeadvisor.com/servlet/ArticleNews/story/PRNEWS/20150406/enUK201504063711 Morgan Stanley Veteran Joins Bitcoin 2.0 http://www.bloomberg.com/article/2015-04-06/ajDV7Gwao6c4.html Articles are still coming out, so we'll update if we spot more. :) Title: Re: [SOFTWARE SALE LIVE] Factoid - The Software Token For The Factom Post by: FACTOM on April 07, 2015, 07:03:15 PM https://i.imgur.com/Wvd5qOL.png The new rate of 1BTC = 1900 Factoids is now active. Get your Factoids early if you haven't already before the rate change in 7 days: https://koinify.com/#/project/FACTOM Title: Re: [SOFTWARE SALE LIVE] Factoid - The Software Token For The Factom Post by: FACTOM on April 10, 2015, 01:41:30 PM https://i.imgur.com/xmRT1uE.png The current rate is 1 BTC = 1900 Factoids. Get yours now if you haven't already before the rate change in 4 days! https://koinify.com/#/project/FACTOM (https://koinify.com/#/project/FACTOM) Title: Re: [SOFTWARE SALE LIVE] Factoid - The Software Token For The Factom Network Post by: TomKoinify on April 10, 2015, 05:25:51 PM Sales been going great, feel free to reach out to helpdesk@koinify.com for any questions, comments, or concerns on the sale.
Title: Re: [SOFTWARE SALE LIVE] Factoid - The Software Token For The Factom Network Post by: FACTOM on April 11, 2015, 12:34:35 AM For the ones of you who want to know more about how Factoids and Entry Credits relate to each other and the Market Dynamics watch the video below with Jacob Dienelt (Factom's Treasurer) and Peter Kirby (Factom's President). Factoid Market Dynamics https://i.imgur.com/f5yrVDe.png (https://youtu.be/X3rM2TQJt7o) Title: Re: [SOFTWARE SALE LIVE] Factoid - The Software Token For The Factom Network Post by: bitcoinrocks on April 11, 2015, 07:58:12 PM Will any Factoids exist before 5/15 besides those sold in the crowdsale?
Will any Factoids be created after 5/15 besides the annual 10% emission? Will there be a cap on the total number of Factoids or will the annual emission continue into perpetuity? Will Factoids be available to trade on the open market after 5/15? Does Factom the organization hold any Factoids, or will they? How will Factom provide for off-chain transactions? How much overlap exists between the functionality provided by Factom and that provided by Counterparty? Title: Re: [SOFTWARE SALE LIVE] Factoid - The Software Token For The Factom Network Post by: djohnston on April 12, 2015, 05:23:43 AM #1 Will any Factoids exist before 5/15 besides those sold in the crowdsale? #2 Will any Factoids be created after 5/15 besides the annual 10% emission? #3 Will there be a cap on the total number of Factoids or will the annual emission continue into perpetuity? #4 Will Factoids be available to trade on the open market after 5/15? #5 Does Factom the organization hold any Factoids, or will they? #6 How will Factom provide for off-chain transactions? #7 How much overlap exists between the functionality provided by Factom and that provided by Counterparty? Thanks for the questions. See here below. #1. The genesis block of the Factoids (to be released post May 15th) will contain all Factoids from the software sale, early contributor and early sale pool participants as described in percentages on the Factom Koinify profile: https://koinify.com/#/project/FACTOM So to answer the question directly. No. The genesis block will contain all Factoids that will be valid in the protocol and they will come into existence at the same time, no Factoids (beyond for testing purposes) will be created before the Factoid Chain is released. #2. No Factoids will be created after the Genesis block of the Factoid Chain, except for the 10% annual emission you highlight. Its worth highlighting that this 10% annual emission is multiplied against the genesis block Factoids and is thus non compounding. Specifically the number of Factoids in the 10% annual emission is set by the genesis block and stays the same in absolute terms year after year. Thus the percentage of the Factoids rewarded to Federated Servers declines as a percentage of the total Factoids that have been issued over the history of the network. #3. There will not be a cap on the number of Factoids. The emission will continue in perpetuity. #4. Shape Shift has committed to integrate Factoids into their system and so yes it is anticipated that Factoids will be tradable after May 15th, though this is out of the control of the Factom Foundation and will depend on third parties conducting integrations. #5. The Factom Foundation does NOT have its own pool Factoids separate from the early sale, early contributors and software sale. Though the Factom Foundation is able to hold Factoids as part of its endowment in addition to the BTC that is collected during the software sale or later via donations from sponsors. This question of holding Factoids has come up as one the purchasers in the early sale pool failed to complete the committed amount of the purchase and the Factom Foundation ended up holding these Factoids as part of its endowment. Though not originally planned this scenario resulted in the Factom Foundation holding a minority of the Factoids in the early sale pool. #6. On the question of if "Factom" will provide "Off Chain Transactions" I could interpret this question is several ways. Provided you are asking about Factom supporting financial transactions off the bitcoin blockchain, I'd say that any record can be recorded in Factom, though generally speaking this is data records and not financial transactions. Though given Factom doesn't have any gate keepers or restrict the type of data a user adds to the system its possible users will add financial transactions to the Factom system. Will these qualify as "off chain" I suppose in a way they would, though given Factom places an anchor every 10 minutes into the Bitcoin Blockchain this data is secured to the blockchain periodically though without having to place nearly as many transactions into the Bitcoin Blockchain to accomplish this security and audit ability. #7. Factom is a general purpose data verification layer in which the user can write and read from an immutable set of records that have been secured to the blockchain. Factom does not have any application layer features. Anyone issuing tokens, securing records, creating transactions on top of the Factom data verification and auditing trails would be doing so independent of the core Factom protocol which only provides for the writing and reading of data. In short, there is virtually no overlap between Counter Party, Omni Layer, or other decentralized applications which have features such as decentralized exchange, token issuance, smart contracts and so forth. In fact the goal is as Factom proves itself a stable protocol for the publishing and reading of data done in a way that is secured to the blockchain, but allows for much greater scaling, speed and cost efficiencies, that platforms such as Counter Party and Omni will integrate Factom into the way they secure meta data for their different features. I hope those answers are helpful. Title: Re: [SOFTWARE SALE LIVE] Factoid - The Software Token For The Factom Network Post by: Jiggy0001 on April 12, 2015, 06:14:16 PM so what will be the total amount of factoids???
Title: Re: [SOFTWARE SALE LIVE] Factoid - The Software Token For The Factom Network Post by: FACTOM on April 12, 2015, 06:22:09 PM so what will be the total amount of factoids??? There isn't a set number of Factoids. The Software Sale will give you a total number of Factoids sold. Over the years more Factoids will be earned by Factom Servers and Nodes as a reward for contributing computing power and resources to the network. You can find an estimate on the Koinify website: https://koinify.com/#/project/FACTOM Title: Re: [SOFTWARE SALE LIVE] Factoid - The Software Token For The Factom Network Post by: FACTOM on April 12, 2015, 06:25:35 PM https://i.imgur.com/vWygTKV.png The current rate is 1 BTC = 1900 Factoids. Get yours now if you haven't already before the rate change in 2 days! https://koinify.com/#/project/FACTOM Title: Re: [SOFTWARE SALE LIVE] Factoid - The Software Token For The Factom Network Post by: bitcoinrocks on April 13, 2015, 03:46:52 PM #1 Will any Factoids exist before 5/15 besides those sold in the crowdsale? #1. The genesis block of the Factoids (to be released post May 15th) will contain all Factoids from the software sale, early contributor and early sale pool participants as described in percentages on the Factom Koinify profile: https://koinify.com/#/project/FACTOM So to answer the question directly. No. The genesis block will contain all Factoids that will be valid in the protocol and they will come into existence at the same time, no Factoids (beyond for testing purposes) will be created before the Factoid Chain is released. Thank you for your answers, they were very helpful. Could you help me understand the percentages referenced above? If I'm understanding it correctly, the Koinify website says 50% of the genesis block Factoids will come from the public sale, 20% from the early private sale, and 30% from endowments to insiders. Does this mean that if 10 million Factoids are sold during the public sale, that number will be doubled to 20 million for the genesis block? Title: Re: [SOFTWARE SALE LIVE] Factoid - The Software Token For The Factom Network Post by: djohnston on April 13, 2015, 04:25:04 PM #1 Will any Factoids exist before 5/15 besides those sold in the crowdsale? #1. The genesis block of the Factoids (to be released post May 15th) will contain all Factoids from the software sale, early contributor and early sale pool participants as described in percentages on the Factom Koinify profile: https://koinify.com/#/project/FACTOM So to answer the question directly. No. The genesis block will contain all Factoids that will be valid in the protocol and they will come into existence at the same time, no Factoids (beyond for testing purposes) will be created before the Factoid Chain is released. Thank you for your answers, they were very helpful. Could you help me understand the percentages referenced above? If I'm understanding it correctly, the Koinify website says 50% of the genesis block Factoids will come from the public sale, 20% from the early private sale, and 30% from endowments to insiders. Does this mean that if 10 million Factoids are sold during the public sale, that number will be doubled to 20 million for the genesis block? ___________________________________ You are indeed understanding correctly. 50% of the genesis block Factoids will come from the software sale, 20% from the early sale, and 30% from the early contributors. One note, there are no "insiders" these Factoids in the early contributor pool are rewarded to everyone who added value to the Factom project before its launch post May 15th. This includes white paper reviewers, advisors, community leaders, core developers, and everyone else who the Factom team recorded as having added value to the Factom project. This process was open to anyone and the team has repeatedly invited members of the community to join the effort and earn Factoids from the early contributor pool. This open process and transparency has been one of the main drivers of the large team and community that Factom has gathered. To answer your question, Yes, that does mean that if 10 million Factoid are sold during the software sale, the total number of Factoids will be 20 million in the genesis block. Thanks again for the great questions. Title: Re: [SOFTWARE SALE LIVE] Factoid - The Software Token For The Factom Network Post by: bitcoinrocks on April 13, 2015, 05:34:50 PM djohnston, thank you for the excellent answers.
Title: Re: [SOFTWARE SALE LIVE] Factoid - The Software Token For The Factom Network Post by: djohnston on April 13, 2015, 08:16:09 PM djohnston, thank you for the excellent answers. You are welcome. Thanks for the well articulated questions. Title: Re: [SOFTWARE SALE LIVE] Factoid - The Software Token For The Factom Network Post by: FACTOM on April 14, 2015, 02:36:29 AM https://i.imgur.com/Zmr9P0z.png The current rate is 1 BTC = 1900 Factoids. Tomorrow it will be 1 BTC = 1800 Factoids. Get yours now if you haven't already before the rate change! https://koinify.com/#/project/FACTOM Title: Re: [SOFTWARE SALE LIVE] Factoid - The Software Token For The Factom Network Post by: TomKoinify on April 14, 2015, 07:30:59 PM Reminder: If you encounter any technical or account issues with your purchase, email helpdesk@koinify.com and we will get back to you right away. We have a hotline you can call as well for instant support.
Cheers! Team Koinify Title: Re: [SOFTWARE SALE LIVE] Factoid - The Software Token For The Factom Network Post by: starsoccer9 on April 14, 2015, 10:11:39 PM Glad to see you posting the info publicly. I know I had encounter an issue when I tried originally and could not find an easy way to contact you directly.
Title: Re: [SOFTWARE SALE LIVE] Factoid - The Software Token For The Factom Network Post by: FACTOM on April 19, 2015, 10:58:09 PM https://i.imgur.com/8Yzx7KO.jpg The current rate is 1 BTC = 1800 Factoids. In 2 days it will be 1 BTC = 1700 Factoids. Get yours now if you haven't already before the rate change! https://koinify.com/#/project/FACTOM Title: Re: [SOFTWARE SALE LIVE] Factoid - The Software Token For The Factom Network Post by: FACTOM on April 21, 2015, 06:40:22 AM We are pleased to announce a collaboration between Synereo (https://www.synereo.com) + Factom (http://factom.org). Read the details on our blog (http://blog.factom.org/post/116727809969/synereo-factom-announce-partnership). https://i.imgur.com/u53oGuI.png Title: Re: [SOFTWARE SALE LIVE] Factoid - The Software Token For The Factom Network Post by: FACTOM on April 21, 2015, 06:47:27 AM https://i.imgur.com/mX1s52Y.jpg Read why Britain is such a magnet for Fintech, Bitcoin, and Blockchain related ideas and projects. Why the Factom Foundation selected London, England. (http://blog.factom.org/post/116834167784/why-the-factom-foundation-selected-london-england) Title: Re: [SOFTWARE SALE LIVE] Factoid - The Software Token For The Factom Network Post by: FACTOM on April 21, 2015, 06:54:24 AM We are pleased to announce a collaboration between Infinity Algorithms (https://infinityalgorithms.com) + Factom (http://factom.org). Read the details on our blog (http://blog.factom.org/post/116941117794/infinity-algorithms-factom-announce). https://i.imgur.com/Mx2tYnu.png Title: Re: [SOFTWARE SALE LIVE] Factoid - The Software Token For The Factom Network Post by: FACTOM on April 24, 2015, 05:05:48 AM
Title: Re: [SOFTWARE SALE LIVE] Factoid - The Software Token For The Factom Network Post by: chesthing on May 15, 2015, 06:13:59 PM Ico ended, so what now?
Title: Re: [SOFTWARE SALE LIVE] Factoid - The Software Token For The Factom Network Post by: nakaone on May 15, 2015, 08:52:18 PM Ico ended, so what now? country adoption ;D sorry could not resist https://uk.news.yahoo.com/honduras-build-land-title-registry-using-bitcoin-technology-162701917.html#y23n5Pi (https://uk.news.yahoo.com/honduras-build-land-title-registry-using-bitcoin-technology-162701917.html#y23n5Pi) Title: Re: [SOFTWARE SALE LIVE] Factoid - The Software Token For The Factom Network Post by: bitcoinrocks on May 15, 2015, 09:07:17 PM Ico ended, so what now? country adoption ;D sorry could not resist https://uk.news.yahoo.com/honduras-build-land-title-registry-using-bitcoin-technology-162701917.html#y23n5Pi (https://uk.news.yahoo.com/honduras-build-land-title-registry-using-bitcoin-technology-162701917.html#y23n5Pi) OMG Title: Re: [SOFTWARE SALE LIVE] Factoid - The Software Token For The Factom Network Post by: FACTOM on May 16, 2015, 02:31:44 AM We completed our software sale this morning with over 4.3 million Factoids sold.
Paul Snow CEO of the Factom Foundation said this morning: “It has been incredibly humbling to receive such an enthusiastic welcome from the bitcoin community. The Factom Foundation wants to thank each of you for helping to secure the future of the Factom Project and allow us to bring our dream of more honest systems to fruition. Over the next few months we will continue to improve the Factom API and educate developers on how to incorporate Factom into their software”. For details on what's next please read our Blog (http://blog.factom.org/post/119043767999/thank-you-for-supporting-the-factom-foundation-and) And the Koinify Blog (https://koinify.com/blog/thank-you-for-supporting-factom-and-the-decentralized-movement/) https://i.imgur.com/qoNADFa.png Title: Re: [SOFTWARE SALE LIVE] Factoid - The Software Token For The Factom Network Post by: zhangli on May 16, 2015, 03:36:59 AM it's a nice Project.
Title: Re: [SOFTWARE SALE LIVE] Factoid - The Software Token For The Factom Network Post by: mightname on May 16, 2015, 04:42:34 AM So when the factoid will be listed on exchanges such as bittrex,poloniex to exchange?
Title: Re: [SOFTWARE SALE LIVE] Factoid - The Software Token For The Factom Network Post by: animalroam on May 16, 2015, 02:44:29 PM The blockchain goes live during Q3 and we can only exchange during that time?
Title: Re: [SOFTWARE SALE LIVE] Factoid - The Software Token For The Factom Network Post by: jdogman on May 16, 2015, 03:14:02 PM Why is this the first we are hearing about Q3? It would have been great information to have known before investing. If you don't state otherwise, people assume that you are ready to launch soon after your sale ends. Not very cool
Title: Re: [SOFTWARE SALE LIVE] Factoid - The Software Token For The Factom Network Post by: bitcoinrocks on May 16, 2015, 03:24:21 PM Why is this the first we are hearing about Q3? It would have been great information to have known before investing. If you don't state otherwise, people assume that you are ready to launch soon after your sale ends. Not very cool I asked ahead of time and I was told exchanges would be able to integrate Factoids starting May 15th. I think we're waiting on the exchanges at this point. Title: Re: [SOFTWARE SALE LIVE] Factoid - The Software Token For The Factom Network Post by: TomKoinify on May 16, 2015, 04:40:16 PM Why is this the first we are hearing about Q3? It would have been great information to have known before investing. If you don't state otherwise, people assume that you are ready to launch soon after your sale ends. Not very cool Factom will be publishing a development update addressing the timeline; but rest assured no money is released (33%) until the beta and chain goes live. We did not avoid publishing any of this information, it is all on the milestone guidelines on the project page. https://i.imgur.com/SxQEXNv.png Also, the Factoids you see in your Koinify wallet are not real Factoids, they are a "proof-of-purchase". When the chain goes live, you will enter your master passphrase you received when purchasing Factoids into the Factom wallet, in which you will then be credited your real Factoids. There will be no sending of Factoids out of your Koinify wallet. You can read more about this process here: https://koinify.com/blog/thank-you-for-supporting-factom-and-the-decentralized-movement/ ------------------------------------------ For anybody else wondering, this is the sale exodus address: https://blockchain.info/address/35gLt5EgB367enjSjyEDahhWWcy6p1MGf6?offset=50&filter=0 There was appx ~$400,000 that was withdrawn and liquidated mid-sale, which is fully disclosed here: https://koinify.com/blog/factom-executes-planned-hedging-strategy-stage-one/ The itBit USD funds require the same multi-signature approval of withdrawal that the BTC address does for funds to be removed. ------------------------------------------ Finally, if anybody has any further questions regarding Koinify or the software sales end, you can always reach out to me or shoot us an email at hello@koinify.com Title: Re: Factoid - The Software Token For The Factom Network Post by: FACTOM on June 10, 2015, 03:15:57 PM Here is our latest Factom Core Developer Update:
http://blog.factom.org/post/121105395224/factom-core-developer-update-june-9th-2015 Title: Re: Factoid - The Software Token For The Factom Network Post by: Momimaus on July 09, 2015, 02:52:15 PM Why is there an additional crowdsale for Factom Inc? How is all the revenue sharing? Thought with buying Factoids we are good. Now there is a strange company collecting money again. Title: Re: Factoid - The Software Token For The Factom Network Post by: bitcoinrocks on July 09, 2015, 04:42:41 PM I'm interested in investing in Factom Inc and I'm curious how the investment is designed to pay off for those who buy in. Information on the investment website is difficult to digest.
Title: Re: Factoid - The Software Token For The Factom Network Post by: chesthing on July 09, 2015, 05:25:23 PM Why is there an additional crowdsale for Factom Inc? How is all the revenue sharing? Thought with buying Factoids we are good. Now there is a strange company collecting money again. Factom inc is selling shares in their company, what you bought - factoids - are the product of Factom Inc. I'm hardly an investment expert, so dev please correct my understanding: Factom Inc is a private company, and shares bought today are not sellable/tradeable unless you sell Factom Inc to another party or "go public" - sell all shares in another Ipo, which would get Factom Inc listed on the NYSE. http://www.investopedia.com/terms/g/goingpublic.asp Unless either of these happens buyers today are stuck with Factom Inc shares, with the only way to make any return on investment is if you decide to pay dividends. Please correct anything I've written. Title: Re: Factoid - The Software Token For The Factom Network Post by: FACTOM on July 10, 2015, 02:24:30 AM Why is there an additional crowdsale for Factom Inc? How is all the revenue sharing? Thought with buying Factoids we are good. Now there is a strange company collecting money again. Factom Inc is a separate entity to the Factom Foundation although at this time they share a number of the same team members. Factom Inc is incorporated so what you see on BnkToTheFuture is a funding round as a startup will do. More in D Johnston quote below. Also more info about the partnership between Factom Inc + Factom Foundation can be found on our blog: http://blog.factom.org/post/122941176349/factom-inc-factom-foundation-partnership I'm interested in investing in Factom Inc and I'm curious how the investment is designed to pay off for those who buy in. Information on the investment website is difficult to digest. The investment on BnkToTheFuture is like investing in any other startup, you get shares in the company, when they go up in value you make a profit when you sell them. Many startups eventually grow to a point that they go public and their shares are available on the stock market. Also, eventually, there could be dividends offered. Factom inc is selling shares in their company, what you bought - factoids - are the product of Factom Inc. I'm hardly an investment expert, so dev please correct my understanding: Factom Inc is a private company, and shares bought today are not sellable/tradeable unless you sell Factom Inc to another party or "go public" - sell all shares in another Ipo, which would get Factom Inc listed on the NYSE. http://www.investopedia.com/terms/g/goingpublic.asp Unless either of these happens buyers today are stuck with Factom Inc shares, with the only way to make any return on investment is if you decide to pay dividends. Please correct anything I've written. The only correction is that Factoids are a software licence that allows to use Factom to hash entries on the blockchain (once they are converted to entry credits). Factoids are issued by the Factom Foundation not Factom Inc. I'm quoting David Johnston from our other thread with similar questions. what sort of works and services will be offered for these "enterprise clients" ? what are the main sources of income? Blockchain as a Service (BaaS). We will help enterprises integrate our tech with their existing or new systems and for that will we charge a fee. More info on our Blog: http://blog.factom.org/post/122941176349/factom-inc-factom-foundation-partnership do you plan to expand into a full-fledged consulting firm for blockchain tech? i see that the same people are on both factom foundation and factom inc. Do they then work 16 hours a day? The goal for GG / Factom Inc. is more to create generalized blockchain / Factom tools for auditing, finance, land titles and so forth. Doing some consulting for large enterprise clients is a means to defining these general software tools. In short the goal for Factom Inc. is not to be primarily a consulting company, but rather to build software tools that can be used by dozens and eventually hundreds of different companies. As for the work hours, both the Foundation and Factom Inc. teams actually do often work 16 hour days, plus weekends (you can see the late night commits + weekend commits time stamped on Github). In general the Foundation is focused on supporting the core developers and the for profit is supporting the marketing / business folks. The two organizations staff will become more and more divergent over time. For example Peter Kirby serves as the CEO for the for profit while Paul Snow serves as the CEO of the Foundation given their different focuses. Title: Re: Factoid - The Software Token For The Factom Network Post by: FACTOM on July 10, 2015, 02:36:58 AM We are locking this thread as we have another one with more of the community involved.
You are welcome to ask away any question you may have, we also post regular updates. Please continue the discussion on our main Factom thread here: FACTOM - Introducing Honesty to Record-Keeping (https://bitcointalk.org/index.php?topic=850070.0) |
