the volatility has calmed a bit, and the price cannot recover over 0.00400

its clear the market is not here because of "manipulation" but because of lack of new buyers. everyone bullish is already in.
those who complain about low prices should just buy here and stop complaining. if everybody did the same the market would be higher...

unfortunately, if there is a new wave of selling, we could go down to 0.0025 or even 0.0015.

By the way, the current weakness is NOT just FCT - related. Other Alts (ETH, XMR,...) to name a couple ones are quite off their highs with a similar timing, and its also got to do with BTC strength, and fear of a BTC squeeze.

We have a different view about corporate responsability. In Japan you would see the CEO make a press conference, apologize and bow down deeply in front of TV and cameras, and offer compensation to investors

one such compensation may include the option to opt out.

I have exposed the facts. Of course the primary culprit is bnktothefuture.

But if you have company A making a share sale through bank B and bank B is acting illegally to sell the shares, or just even breaking (without maliciousness) some rules, shouldn't you expect at least apologies, BOTH from B AND A

(edit:) one more point.

do you REALLY believe NOBODY from Factom was at least interested to check during the sale how much was raised by bnktothefuture, maybe not an daily basis (though i certainly would if i was Factom's CEO !). When checking the figures, i would quickly figure out the actual figure and the one on bnktothefuture site had a material (1M USD) difference... If they knew and didn't intervene, thats an offense I believe. And its very hard to believe nobody knew on their side. see ? No accusation without proof, but for me, this is very fishy.

GrossBit trolling and giving fake information...

I'll let you judge that.

every of the 158 co-investors of the series A funding received daily emails telling them the deal was oversuscribed (i cut the top because there is personal info)



What you could see directly on bnktothefuture site, until a few days ago was that:



and now its this



(figures in JPY as i'm based in Japan, 1 USD = roughly 100 JPY, so the first figure consistent with the 5.3M USD, the second one with the final 4.2M USD)


TLDR: during an equity sale, there was misrepresentation of information to investors. They were led to believe the deal was oversuscribed (while still open !) and at least 13 people invested on the last day on the basis of that information (number of backers reported on the email was 145 1 day before, the final number of backers is 158 !!!) BUT the amount subscribed in the end was 4.2M only, 1M less than announced, and all that information was still there a few days ago, before it was swiftly removed from the bnktothefuture site at the same time (some hours later to be exact) after the press releases.


This is absolutely illegal. You don't need maliciousness to make some illegal (= go over a speed limit without being aware for example, kill somebody by "mistake" by prescribing wrong medicine etc...). If there is maliciousness , you can call it a federal crime. If this a registered SEC sale it could be subject to fines and perhaps more.

read the whole story, and follow me on reddit/ethtrader and reddit/factom

https://www.reddit.com/r/factom/comments/55x0sr/tim_draper_leads_42_million_series_a_for/?sort=new

PS. don't worry i won't file any complaint, after all i am an investor as well and don't want to shoot in my own foot. But i don't like to be treated like a fool. You can count on me to stay vigilant.

2 poloniex accounts ?

i have one bitcointalk account and one reddit account yes. same nickname

yes i am a small player. there are big players moving the markets. probably they are close to Factom if not insiders themselves (most probably).

do you want me to provide other screenshots? you're being ridiculous...

http://www.hostingpics.net/viewer.php?id=715945Capturedecran20161005a092423.png

well good grief, already in the red, 0.00371 now...

i'm not sure its the right place to post about trading, so you can follow me on reddit/ethtrader for my thoughts not only on FCT but ETH and other altcoins.

today's trade:

http://hpics.li/54cfe88

sell order at 0.00419 already in...

I NEVER BS

do you want screenshots again ?

whats your problem ? you cannot admit that some people actually PROFIT from the market volatility

 Maybe you should try as well. Its wishful thinking that FCT would go up to the moon in one straight vertical line

trying my luck buying back some FCT at 0.00386, 30mn and 1H RSI is oversold, i think 0.0042 is possible (4H MA10)

not very adventurous though, nowhere the size i used to have

in terms of business potential, i think its among the top of the list, just because they've been around for a while and built a little name for them and have some contacts already. They have a first mover advantage
 Thats why i'm invested in it. But as investors, we don't want just potential :-)

As for their technology, I'm afraid it could be obsolete very quickly, so they have to deliver quickly. I think within 1-2 year, investors will be either well in the money, or totally broke in FCT, with not many scenarios in the middle.

ok not 0, lets say market cap 1M. Are you any happier ?

Factom is a private company. They are burning cash at a fast rate, and have enough funding for maybe 18 months to 2 years. If in 2 years time, they can't get any significant contracts and if by that time a strong competitor emerges, they will put the plug on Factom, and then no more dev, and if its open source, it will be up to the CrazyIvans to take up the slack and try to make it great again....

I think you can explain the suppressed Factom price without manipulation:

- Factom is all speculation, there is no guarantee people will use their blockchain and their services.
After all, for Factom clients, this is all considered as a "cost". publishing information on a blockchain is something they didn't do or need before, why pay this extra cost ? CEOs always want to reduce their costs,
and how can they be sure that this will be handled properly. What is the impact on the client business if Factom goes under ?
As long as there is no collective industry needs to publish data on a public blockchain nobody will do it.

There is no guarantee there will not ever be any competitor. Actually i think there are a lot of similar projects already under development.

- Those who believe in Factom have already bought. and a lot of them bought at much much cheaper level than today, and have been happy to sell some to take profits. Clear now that over 0.005 there were not enough buyers to absorb all those sales, and that many recent buyers had been tactical leveraged players, they are now out of the market.

- So unless there are good news from the client side that brings new players willing to move in, or that the existing longs are willing to add to their longs, the market will be subject to gyrations. With a lot of high conviction longs being burnt recently i doubt we see those guys trying their luck again, so...

- where from here short term ? sentiment is still fragile. M2 can give some hope and hype, but then again, so thought people long at 0.005 and above. I don't think we go back to the intraday lows 0.00306 from the other day, but 0.0036 is not impossible, especially in a scenario where BTC gets strong. 0.0038-0.0039 is I believe a good buy zone for short term traders if we get there. i think we will try at least once to climb to the Daily MA10 again.

the classic bearish divergence (RSI+Volume) on the weekly chart paints a very bleak medium term picture for FCT (0.0025 or even 0.0015 as targets, 2sigma Lower Bollinger Band value when the signal appeared)

Of course, charting has limited predicting powers in such a small market as FCT. What ultimately matters is actual clients using FCT. in that case, the price will be much much higher. If nobody uses it, it will go to 0.

the real news is the list of big investors included some VC celebrities, which certainly can interpreted as a good thing.

the headlines news were of a ("new") round of funding of 4.2M usd. It turns out that this amount was related to the Series A funding which closed in July earlier.
At the time, it was announced that the amount raised was over 5M usd. it turns out that it was only 4.2M, less than initially announced.

The delay between the filing and the end of the bnktothefuture subscription can be explained by paperwork. But the timing is a little bit "strange" or "fortunate", or just lucky :-)

I will let the FCT market vote

in the meanwhile, its kind of a "positive" news for A-shares holder as it means no dilution. However less funding means less development, i don't know which is best for the LT. I trust that Factom has raised the right amount of money to be able to conduct their business. Anyway its also the own interest of the founders to avoid share dilution.

Well i am ready to retract my words if I am wrong , but i think i've given enough evidence to those who want to examine it seriously. bnktothefuture have confirmed themselves. you just need to create an account and see it on their site.

not trolling

spreading the truth, reputable poster with 2007 karma on Reddit (same nickname)

posting the same info on Reddit and upvoted and thanked by the community.

https://www.reddit.com/r/factom/comments/55x0sr/tim_draper_leads_42_million_series_a_for/

upvoted 8 times as I post now
http://hpics.li/65192f4

I am not short FCT because i don't short coins in general, but after today's spike to 476 on the news the market is back at 413. Even Polo's trollbox seems aware of the non-new now.

Be long at your own risk

to anyone who bought near today's highs because of this non-news :you should be worried. Its not GrossBit telling it to you, its Mr Market

who's the troll   Its Flashbit... making unfounded attacks and trying to obscure the now too obvious truth

Hi again guys,

this is a screenshot from bnktothefuture http://img4.hostingpics.net/pics/967087Capturedecran20161005a174204.png
i cut it because i don't wanna show you my personal info
This is the commentary from BF support "We will leave David to answer those questions that are not answered but this round is the same round you co-invested in. We have updated the numbers to reflect the final amount raised on this pitch."

i found it strange the numbers have been "revised" DOWN as you can see from the PREVIOUS screenshot that i posted earlier
http://img4.hostingpics.net/pics/362144Capturedecran20161005a095320.png

spot the difference: number of backers is the same 158 the number on the left is the same 512,946,869 yens
but the actual number of funding reported went DOWN to 430,875,409 yens (so down around 800,000 USD)
and this is the SAME round of funding, this is not NEW funding... dixit bnktothefuture itself (not me !!!)

I am waiting for more explanations, but facts seem to support more and more my interpretation, despite all the accusations of trolling and FUDding, the only person showing real information is myself, and i am transparent and have disclosed my position in FCT and my even my trading levels,
which is NOT the case of all parties involved.

Draw your own conclusions and who should trust. I have been posting on reddit for 6 months and built a solid reputation on ethtrader, i'm not here to destroy my reputation and spread false information. I cast doubt when there is and always have balanced opinions, and trade prudently.

Trade and invest accordingly

at last some intelligent comment here.

we have to learn about the exact details yet.

it just proves that small investors get always f*cked, and its much better to invest in the (il)liquid coins, you can get in/out whenever you like, and its much more transparent.

Lets see the close tonight and tomorrow , if we close above 0.0045 I'll acknowledge it may be a reversal.

I've emailed to David Johnston and i hope he will provide quickly some answers and clarification.

I don't know if you guys have FCT only or own A-shares, but as an A-share investor, i'm very pissed off that less 3 months after a closing, there is a new offering to which we are not invited, we learn from it in the press instead from Factom directly, and we don't know if those conditions are less or more favourable than the one we had 3 months ago only. Depending on the terms, that may be also diluting us without having chance to add. Thats not the way to do proper business I believe.

So if the report is true, even if its a very good thing for the LT health of the company, its not the way to do business in my opinion, and I'm pissed off by the way Factom treats its small investors.

If the report is false, well... timber...

this article is nearly a copy/paste from the previous article

anyway there is only one way of knowing and its to ask Factom itself, and I'm going to ask the question to David Johnston, i've already met him in person.
that will clarify the issue.

BTW i cross posted on reddit
https://www.reddit.com/r/factom/comments/55v8r8/factom_secures_series_a_funding_deal_with_tim/

i want to see confirmation that this is not old news.


http://img4.hostingpics.net/pics/362144Capturedecran20161005a095320.png

this is a snapshot from bnktothefuture related to 550,000,000 yens of funding so far.
(displayed in Yen cause i'm based in Japan)

That is a (almost) round 5.5 M USD given the exchange rate slightly above 100.
I would have naturally thought that amount was entirely related to this round of funding in August 2016

But a not-so-nice interpretation is that this figure would include the first round of funding.

Then it would all add up to the 1.5M seed capital and 4M here

1.5M from plug and play Dec 2015
https://www.sec.gov/Archives/edgar/data/1660928/000166092815000001/xslFormDX01/primary_doc.xml

the 4M form which is making the buzz
http://form-d.findthecompany.com/l/338212/Factom-Inc

1.5M+4M = 5.5M

not saying this is the right interpretation, but those numbers seem to add up. and there is no sign of another Form-D.
I don't remember seeing any form-D for the bnktothefuture August round of funding. Maybe those filings are at the end of every quarter
(note the previous one was at the end of December).

Thats many coincidences, and i think i'm correct.
In which case, the market rallied on old news. a short covering rally was due given the severe correction. It stopped just where it had to, at the 10D MA.
If I'm correct its very bearish for sentiment as well, because people will realize everything is not rozy, they can't even understand the figures thrown around...

did you read all my posts ?

i've been contributing abundantly on reddit with the same nickname since Dec2015.
mainly on reddit/ethtrader, but also on reddit/factom or other subs. you can check my whole history. I was bullish Factom from July when they closed their series A funding

follow my posts there, because i won't post as often here than over there.