I will pay .25 BTC to someone who writes a step by step windows (with pictures) guide on how to withdraw FCT from Poloniex to the paper wallet. It should be moron proof.
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Can you mine this?
about 75K FCT a year will be distributed to Federated Servers who help maintain the network with their resources. Per month, not per year.
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FCT needs to be taken down off of Yuanbaohui. They don't allow international customers, so arbitrage is impossible, and price on YBH is being suppressed to 35% cheaper than on Polo. Then they send massive amounts over, dump it on polo, and hoard the BTC back to China. They don't give a crap about FCT, it's just a tool for them to hoard more BTC. It needs to get off of that piece of !#$% exchange ASAP.
Lol. YBH is pretty craptastic, they display only 10 orders at a time and seem not to care whatsoever what is happening elsewhere. Based upon my team's analysis: 1. In our opinion, YBH's volume has never been legit. 2. We suspect they got stuck short on Poloniex.
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1) Is there any news which have caused the 100%+ increase over the last days? I have followed the thread but I could not identify something that could be the reason?
2) Factom uses the Bitcoin blockchain to store data. How is Factom affected through the current Bitcoin blocksize and consensus debate? Could it be fear for Factom?
1. There isn't specific news I'm aware of. I believe people are simply coming to understand the value and utility of FCT coupled with a nice squeezing of the shorts on Poloniex. 2. It doesn't matter as FCT can be anchored into pretty much any blockchain. In addition to anchoring into Bitcoin, the developers are planning to anchor into Ethereum as well. Other coins can be added as necessary or desired by the developers.
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Factoids are used to compensate Federated Servers for their work, are they not? If so, they are MUCH more than portable software licenses to prevent spam.
The point is they fall short of being money, as being an alternative to bitcoin as a store of value. The servers are rewarded with software licenses, which they can sell like any other software company sells licenses. The only difference is it is a collective system, which they are operating collaboratively, while also being competitive in the long term. They must convince the users they will do a good job in the future, and the best way is to do a good job in the present. Unlike Bitcoin, excess profits are not dissipated in heat, but will be dissipated in satisfying active users, by making the network more reliable/resilient/available/marketed/who knows. In the short term, it doesn't look like there will be excessive profits, where the marginal revenue is above the marginal cost, even after inflation starts. I feel the following hasn't gotten enough exposure. It might help shed some light on the economic system. https://www.reddit.com/r/factom/comments/47nyx0/thoughts_of_the_economic_model_of_factom_and/d0gqwdzThank you for your response. I'm going to plant a seed. Something I have told many startups over the years is, "Don't dictate what your product will be used for." My point is, I love what Factom is doing and so do many others. How you envision Factoids being used may be EXACTLY how they are utilized and that's great; I see the company and token being very successful. But whether you want it or not, some people, and maybe even many people, in time, may want to utilize Factoids as a form of money. Should that arise, don't try to stifle it. If you do, due to the nature of open source software, someone will see the opportunity and seize it. Fiat? No thanks. Gold backed currency? There are pros and cons. Computing power based currency? An interesting concept, let's see where it goes. Currency backed by the world's data it secures? The VC in me gets very excited.
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Are Factoids launching on shapeshift not excitement enough for one day?
All this talk of price and pumps is odd. You seem to forget that Factoids are not money. They are a portable software license to prevent spam.
Being on shapeshift gives a low friction way for developers to get started on the live system, without setting up exchange accounts, etc.
Factoids are used to compensate Federated Servers for their work, are they not? If so, they are MUCH more than portable software licenses to prevent spam.
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How many coins are created per day?
Thanks.
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Team Factom, when there is news released such as that in China, could you please release an english version here as well?
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Are you there whiteorg? Can you transcribe what he says?
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I was poking around and found this positive news: CargoChain is built with Meteor, using Ethereum and IPFS as the underlying technologies to handle contractual relations and the "eternification" of documents. In the future we intend to include Factom as an additional source to store document hashes at for further security/verification. https://github.com/domschiener/cargochainCargoChain was the WINNER of the Shanghai Blockchain Hackathon (the one where the Factom team came in 3rd).
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Team Factom,
One of the reasons I have been investing in Factom is you not only have an outstanding team of developers, but also have people with business sense within your ranks. This is a rarity in cryptocurrency. I was a very early adopter of Darkcoin who have outstanding developers, but despite my suggestions to recruit such people, they never brought anyone in with advanced business experience and it shows (and is the reason I've largely divested myself). However, what they DO have is an amazing community behind them. At present, unless I am missing the meeting place, what Factom doesn't have is the fanatical community backing.
I'm happy to help jump start that and put my money where my mouth is. I'm happy to provide some bounties for various small development or other projects you need help with.
Any requests?
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It's so nice being invested in a coin where the devs understand how to conduct business.
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If the world is spending $1 mil FCT on contracts then price might be around $13
Does this sound about right?
Think about the almost unquantifiable number of contracts written around the world each year. Think of the number of companies that exist solely to enable contracts in some form. Why store those contracts on a closed, centralized system that might have zero, one, or maybe two backups when you can have it stored across thousands or millions of computers. Why pay high fees to a proprietary service when you can have market forces determine fair value. One million in contracts means a Factoid is $13.00 (it is currently $0.75). I see no reason Factom won't be handling billions in contracts if Mr. Snow delivers what he is promising. And contracts is just one small facet of what is possible with Factom. Factom is the data layer for bitcoin -- the place all the cool shit happens. As I said, bitcoin is tcp/ip and Factom is www. WWW is where all the cool shit is. As factom.org says: Use the blockchain to power a remarkable range of applications, including audit systems, medical records, supply chain management, voting systems, property titles, legal applications, and financial systems. Watch this: https://www.youtube.com/watch?v=DbRVPBFiy64
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Can somebody tell me why this coin is going to the moon?
And is it still smart to step in? or is it FOMO now
Think of the bitcoin protocol as tcp/ip Well, the www just got invented and Paul Snow is the next Tim Berners Lee.
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5 days from ICO passed, why he is still hire?
Wait a minute. Maybe he is telling the truth. lol Considering he offered to sell me all the remaining ICO coins via PM, no, no he is not. He's trash and this coin is a scam, nothing more.
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Unsold coins were burned yesterday.
What's the burn address? Block explorer shows 90 million outstanding still. If you look at my post history, you will see that I am a large investor who moves coins. I understand the value of a decentralized remailer system. I'd like to invest in this coin I just need to make sure those coins are burned.
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I'm interested in buying this coin but won't be until I see that the unsold coins have been burned.
Please let us know when that happens. It should be a priority.
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Where in the world is vertoe?
That's the million CACH question.
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